Document:

Indenture

 EXHIBIT 4.2 
  
 DELTA AIR LINES, INC. 
  
 and 
  
 THE BANK OF NEW YORK TRUST COMPANY OF FLORIDA, N.A. 
 as Trustee

  
 8.00% Convertible Senior Notes due 2023 
  

  
 INDENTURE 
  

  
 Dated as of June 2, 2003 

 TABLE OF CONTENTS 
  

	 	  	Page

		
	ARTICLE 1	  	 
		
	DEFINITIONS	  	 
		
	 SECTION 1.01 Definitions
	  	1
	 SECTION 1.02 Other Definitions
	  	6
	 SECTION 1.03 Incorporation by Reference of Trust Indenture Act
	  	6
	 SECTION 1.04 Rules of Construction
	  	7
		
	ARTICLE 2	  	 
		
	THE CONVERTIBLE SENIOR NOTES	  	 
		
	 SECTION 2.01 Form
	  	7
	 SECTION 2.02 Execution and Authentication
	  	8
	 SECTION 2.03 Registrar, Paying Agent and Conversion Agent
	  	9
	 SECTION 2.04 Paying Agent to Hold Money in Trust
	  	9
	 SECTION 2.05 Holder Lists
	  	9
	 SECTION 2.06 Transfer and Exchange
	  	10
	 SECTION 2.07 Replacement Convertible Senior Notes
	  	11
	 SECTION 2.08 Outstanding Convertible Senior Notes
	  	12
	 SECTION 2.09 When Treasury Convertible Senior Notes Disregarded
	  	13
	 SECTION 2.10 Temporary Convertible Senior Notes
	  	13
	 SECTION 2.11 Cancellation
	  	13
	 SECTION 2.12 Defaulted Interest
	  	14
	 SECTION 2.13 CUSIP Number
	  	15
	 SECTION 2.14 Restrictions on Transfer
	  	15
		
	ARTICLE 3	  	 
		
	COVENANTS	  	 
		
	 SECTION 3.01 Payments on the Notes
	  	15
	 SECTION 3.02 Commission Reports
	  	15
	 SECTION 3.03 Compliance Certificate
	  	16
	 SECTION 3.04 Maintenance of Office or Agency
	  	16
	 SECTION 3.05 Continued Existence
	  	16
	 SECTION 3.06 Appointments to Fill Vacancies in Trustee’s Office
	  	16
	 SECTION 3.07 Stay, Extension and Usury Laws
	  	17
	 SECTION 3.08 Taxes
	  	17
	 SECTION 3.09 Investment Company Act
	  	17

  

 i 

	ARTICLE 4	  	 
		
	REDEMPTION AND PURCHASE	  	 
		
	 SECTION 4.01 Right to Redeem; Notices to Trustee
	  	17
	 SECTION 4.02 Selection of Notes to Be Redeemed
	  	18
	 SECTION 4.03 Notice of Redemption
	  	18
	 SECTION 4.04 Effect of Notice of Redemption
	  	19
	 SECTION 4.05 Deposit of Redemption Price
	  	19
	 SECTION 4.06 Notes Redeemed in Part
	  	19
	 SECTION 4.07 Arrangement on Call for Redemption
	  	20
	 SECTION 4.08 Purchase of Notes at the Option of the Holders
	  	20
	 SECTION 4.09 Repurchase at the Option of Holders Upon Designated Event
	  	22
	 SECTION 4.10 Effect of Purchase Notice or Designated Event Repurchase Notice
	  	25
	 SECTION 4.11 Deposit of Purchase Price or Designated Event Repurchase Price
	  	26
	 SECTION 4.12 Notes Purchased in Part
	  	26
	 SECTION 4.13 Covenant to Comply with Securities Laws upon Purchase of Convertible Senior Notes
	  	27
	 SECTION 4.14 Repayment to the Company
	  	27
		
	ARTICLE 5	  	 
		
	SUCCESSORS	  	 
		
	 SECTION 5.01 Company May Consolidate, etc., Only on Certain Terms
	  	27
	 SECTION 5.02 Successor Corporation Substituted
	  	28
	 SECTION 5.03 Repurchase at the Option of Holders upon Designated Event
	  	28
		
	ARTICLE 6	  	 
		
	DEFAULTS AND REMEDIES	  	 
		
	 SECTION 6.01 Events of Default
	  	29
	 SECTION 6.02 Acceleration
	  	30
	 SECTION 6.03 Other Remedies
	  	30
	 SECTION 6.04 Waiver of Past Defaults
	  	31
	 SECTION 6.05 Control by Majority
	  	31
	 SECTION 6.06 Limitation on Suits
	  	31
	 SECTION 6.07 Rights of Holders to Receive Payment
	  	32
	 SECTION 6.08 Collection Suit by Trustee
	  	32
	 SECTION 6.09 Trustee May File Proofs of Claim
	  	32
	 SECTION 6.10 Priorities
	  	32
	 SECTION 6.11 Undertaking for Costs
	  	33

  

 ii 

	ARTICLE 7	  	 
		
	THE TRUSTEE	  	 
		
	 SECTION 7.01 Duties of the Trustee
	  	33
	 SECTION 7.02 Rights of the Trustee
	  	34
	 SECTION 7.03 Individual Rights of the Trustee
	  	36
	 SECTION 7.04 Trustee’s Disclaimer
	  	36
	 SECTION 7.05 Notice of Defaults
	  	36
	 SECTION 7.06 Reports by the Trustee to Holders
	  	36
	 SECTION 7.07 Compensation and Indemnity
	  	37
	 SECTION 7.08 Replacement of the Trustee
	  	38
	 SECTION 7.09 Successor Trustee by Merger, etc.
	  	39
	 SECTION 7.10 Eligibility, Disqualification
	  	39
	 SECTION 7.11 Preferential Collection of Claims Against Company
	  	39
		
	ARTICLE 8	  	 
		
	SATISFACTION AND DISCHARGE OF INDENTURE	  	 
		
	 SECTION 8.01 Discharge of Indenture
	  	39
	 SECTION 8.02 Deposited Monies to Be Held in Trust by Trustee
	  	40
	 SECTION 8.03 Paying Agent to Repay Monies Held
	  	40
	 SECTION 8.04 Return of Unclaimed Monies
	  	40
	 SECTION 8.05 Reinstatement
	  	41
		
	ARTICLE 9	  	 
		
	AMENDMENTS	  	 
		
	 SECTION 9.01 Without the Consent of Holders
	  	41
	 SECTION 9.02 With the Consent of Holders
	  	42
	 SECTION 9.03 Compliance with the Trust Indenture Act
	  	43
	 SECTION 9.04 Revocation and Effect of Consents
	  	43
	 SECTION 9.05 Notation on or Exchange of Convertible Senior Notes
	  	44
	 SECTION 9.06 Trustee Protected
	  	44

  

 iii 

	 ARTICLE 10
	  	 
		
	 GENERAL PROVISIONS
	  	 
		
	 SECTION 10.01 Trust Indenture Act Controls
	  	44
	 SECTION 10.02 Notices
	  	44
	 SECTION 10.03 Communication by Holders with Other Holders
	  	45
	 SECTION 10.04 Certificate and Opinion as to Conditions Precedent
	  	45
	 SECTION 10.05 Statements Required in Certificate or Opinion
	  	45
	 SECTION 10.06 Rules by Trustee and Agents
	  	46
	 SECTION 10.07 Legal Holidays
	  	46
	 SECTION 10.08 No Recourse Against Others
	  	47
	 SECTION 10.09 Counterparts
	  	47
	 SECTION 10.10 Other Provisions
	  	47
	 SECTION 10.11 Governing Law
	  	47
	 SECTION 10.12 No Adverse Interpretation of Other Agreements
	  	48
	 SECTION 10.13 Successors
	  	48
	 SECTION 10.14 Severability
	  	48
	 SECTION 10.15 Table of Contents, Headings, etc.
	  	48
		
	ARTICLE 11	  	 
		
	CONVERSION OF CONVERTIBLE SENIOR NOTES	  	 
		
	 SECTION 11.01 Right to Convert
	  	48
	 SECTION 11.02
	 	Exercise of Conversion Privilege; Issuance of Common Stock on Conversion; No Adjustment for Interest or Dividends	  	48
	 SECTION 11.03 Cash Payments in Lieu of Fractional Shares
	  	50
	 SECTION 11.04 Conversion Price
	  	50
	 SECTION 11.05 Adjustment of Conversion Price
	  	50
	 SECTION 11.06 Effect of Reclassification, Consolidation, Merger or Sale
	  	58
	 SECTION 11.07 Taxes on Shares Issued
	  	60
	 SECTION 11.08 Reservation of Shares; Shares to Be Fully Paid; Listing of Common Stock
	  	60
	 SECTION 11.09 Responsibility of Trustee
	  	60
	 SECTION 11.10 Notice to Holders Prior to Certain Actions
	  	61
	 SECTION 11.11 Restriction on Common Stock Issuable Upon Conversion
	  	62

  

 iv 

	ARTICLE 12	  	 
		
	CONVERSION EVENTS	  	 
		
	 SECTION 12.01 Conversion Upon Satisfaction of Sale Price Condition.
	  	62
	 SECTION 12.02 Conversion Based on Trading Price of the Notes.
	  	63
	 SECTION 12.03 Conversion Upon Notice of Redemption.
	  	64
	 SECTION 12.04 Conversion Upon Specified Corporate Transactions.
	  	64
		
	 EXHIBIT A: FORM OF NOTE
	  	 
	 EXHIBIT B: FORM OF RESTRICTED COMMON STOCK LEGEND
	  	 
	 EXHIBIT C: FORM OF TRANSFER CERTIFICATE FOR TRANSFER OF RESTRICTED COMMON STOCK
	  	 

  

 v 

 CROSS-REFERENCE TABLE*  
  

	 Trust Indenture
Act Section

	  	Indenture
Section

	 310(a)(1)
	  	7.10
	       (a)(2)
	  	7.10, 10.10
	       (a)(3)
	  	n/a
	       (a)(4)
	  	n/a
	       (a)(5)
	  	n/a
	       (b)
	  	7.08, 7.10, 10.02
	       (c)
	  	n/a
		
	 311(a)
	  	7.11
	       (b)
	  	7.11
	       (c)
	  	n/a
		
	 312(a)
	  	2.05
	       (b)
	  	10.03
	       (c)
	  	10.03
		
	 313(a)
	  	7.06
	       (b)(1)
	  	n/a
	       (b)(2)
	  	7.06
	       (c)
	  	7.06, 10.02
	       (d)
	  	7.06
		
	 314(a)
	  	3.02, 10.02
	       (b)
	  	n/a
	       (c)(1)
	  	10.04
	       (c)(2)
	  	10.04
	       (c)(3)
	  	n/a
	       (d)
	  	n/a
	       (e)
	  	10.05
	       (f)
	  	n/a
		
	 315(a)
	  	7.01(b)
	       (b)
	  	7.05, 10.02
	       (c)
	  	7.01(a)
	       (d)
	  	7.01(c)
	       (e)
	  	6.11
		
	 316(a)(last sentence)
	  	2.09
	       (a)(1)(A)
	  	6.05
	       (a)(1)(B)
	  	6.04

  

 vi 

	       (a)(2)
	  	n/a
	       (b)
	  	6.07
	       (c)
	  	9.04
		
	 317(a)(1)
	  	6.08
	       (a)(2)
	  	6.09
	       (b)
	  	2.04
		
	 318(a)
	  	10.01
	       (b)
	  	n/a
	       (c)
	  	10.01

	“n/a”	 	means not applicable. 

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

  

 vii 

 THIS INDENTURE, dated as of June 2, 2003, is between Delta Air Lines, Inc., a Delaware corporation (the
“Company”), and The Bank of New York Trust Company of Florida, N.A., a national banking association duly organized and existing under the laws of the United States of America (the “Trustee”). The Company has duly authorized the
creation of its 8.00% Convertible Senior Notes due 2023 (the “Convertible Senior Notes” or the “Notes”), and to provide therefor the Company and the Trustee have duly authorized the execution and delivery of this Indenture. Each
party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders from time to time of the Notes: 
  
 ARTICLE 1 
  
 DEFINITIONS 
  
 SECTION 1.01 Definitions. 
  
 “Affiliate” means, when used with reference to any person, any other person directly or indirectly controlling, controlled by, or under direct or indirect common control of, the referent person. For the purposes of this
definition, “control” when used with respect to any specified person means the power to direct or cause the direction of management or policies of the referent person, directly or indirectly, whether through the ownership of voting
securities, by contract or otherwise. The terms “controlling” and “controlled” have meanings correlative of the foregoing. 
  
 “Agent” means any Registrar, Paying Agent, Conversion Agent or co-registrar. 
  
 “Agent Member” means any member of, or participant in, the Depositary. 
  
 “Board of Directors” means the Board of Directors of the Company or
any authorized committee of the Board of Directors. 
  
 “Capital Stock” of any person means any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated) equity of such person, but excluding any debt
securities convertible into such equity. 
  
 “Commission” means the Securities and Exchange Commission. 
  
 “Common Stock” means any stock of any class of the Company which has no preference in respect of dividends or of amounts payable in the event of any voluntary or involuntary liquidation, dissolution or
winding up of the Company and which is not subject to redemption by the Company. Subject to the provisions of Section 11.06, however, shares issuable on conversion of Notes shall include only shares of the class designated as Common Stock 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 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. 
  

 1 

 “Company” means the party named as such above until a successor replaces it in accordance with
Article 5 and thereafter means the successor. References to the Company shall not include any subsidiary. 
  
 “Conversion Prices” shall be as specified in paragraph 9 of the Note, the form of which is attached hereto as Exhibit A, as adjusted in
accordance with the provisions of Articles 11 and 12. 
  
 “Conversion Rate” shall be as specified in paragraph 9 of the Note, the form of which is attached hereto as Exhibit A, subject to adjustment in accordance with the provisions of Articles 11 and 12. 
  
 “Convertible Senior Notes” or the “Notes” means the 8.00%
Convertible Senior Notes due 2023 issued, authenticated and delivered pursuant to this Indenture. 
  
 “Corporate Trust Office” means the corporate trust office of the Trustee at which at any particular time the trust created by this Indenture
shall principally be administered; as of the date hereof, the Corporate Trust Office is located at 10161 Centurion Parkway, Jacksonville, FL 32256, Attention: Corporate Trust Department, Facsimile: (904) 645-1921. 
  
 “Default” means any event that is, or after notice or passage of
time, or both, would be, an Event of Default. 
  
 “Depositary” means, with respect to any Global Securities, a clearing agency that is registered as such under the Exchange Act and is designated by the Company to act as Depositary for such Global Securities (or any successor
securities clearing agency so registered), which shall initially be DTC. 
  
 “Designated Event” 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 all or substantially all of the Common Stock shall be exchanged for, converted into, acquired for or constitutes solely the right to receive, consideration which is not all or substantially all Common Stock that: 
  
 (i) is listed on, or immediately after such transaction or
event will be listed on, a United States national securities exchange; or 
  
 (ii) is approved, or immediately after such 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. 
  
 “DTC” means The Depository Trust Company, a
New York corporation. 
  
 “ex-dividend date” shall have
the meaning set forth in Article 12 hereof and paragraph 9 of the Note, the form of which is attached hereto as Exhibit A. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 
  

 2 

 “GAAP” means generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as may be
approved by a significant segment of the accounting profession of the United States, which are in effect from time to time. 
  
 “Global Securities Legend” means the legend labeled as such and that is set forth in Exhibit A hereto. 
  
 “Holder” means a person in whose name the Notes are registered on
the Registrar’s books. 
  
 “Indebtedness” means,
with respect to any person, all obligations, whether or not contingent, of such person (i) (a) for borrowed money (including, but not limited to, any indebtedness secured by a security interest, mortgage or other lien on the assets of the Company
that is (1) given to secure all or part of the purchase price of property subject thereto, whether given to the vendor of such property or to another, or (2) existing on property at the time of acquisition thereof), (b) evidenced by a note,
debenture, bond or other written instrument, (c) under a lease required to be capitalized on the balance sheet of the lessee under GAAP or under any lease or related document (including a purchase agreement) that provides that the Company is
contractually obligated to purchase or cause a third party to purchase and thereby guarantee a minimum residual value of the lease property to the lessor and the obligations of the Company under such lease or related document to purchase or to cause
a third party to purchase such leased property, (d) in respect of letters of credit, bank guarantees or bankers’ acceptances (including reimbursement obligations with respect to any of the foregoing), (e) with respect to Indebtedness secured by
a mortgage, pledge, lien, encumbrance, charge or adverse claim affecting title or resulting in an encumbrance to which the property or assets of such person are subject, whether or not the obligation secured thereby shall have been assumed by or
shall otherwise be such person’s legal liability, (f) in respect of the balance of deferred and unpaid purchase price of any property or assets, and (g) under interest rate or currency swap agreements, cap, floor and collar agreements, spot and
forward contracts and similar agreements and arrangements; (ii) with respect to any obligation of others of the type described in the preceding clause (i) or under clause (iii) below assumed by or guaranteed in any manner by such person through an
agreement to purchase (including, without limitation, “take or pay” and similar arrangements), contingent or otherwise (and the obligations of such person under any such assumptions, guarantees or other such arrangements); and (iii) any
and all deferrals, renewals, extensions, refinancings and refundings of, or amendments, modifications or supplements to, any of the foregoing. 
  
 “Indenture” means this Indenture as amended or supplemented from time to time. 
  
 “Initial Purchaser” means J.P. Morgan Securities Inc. 
  
 “Interest Payment Date” means June 3 and December 3 of each year,
beginning December 3, 2003. 
  

 3 

 “Liquidated Damages” shall be as set forth in paragraph 15 of the Note, the form of which is
attached as Exhibit A hereto, qualified by reference to, and is subject in its entirety to, the more complete description thereof contained in the Registration Rights Agreement. 
  
 “Maturity Date” means June 3, 2023. 
  
 “Offering Memorandum” means the final offering memorandum, dated May 28, 2003, relating to the Notes, including
any supplements and amendments thereto. 
  
 “Officer”
means the Chairman of the Board, the Chief Executive Officer, the President, the Chief Financial Officer, the Chief Accounting Officer, any Executive Vice President, Senior Vice President or Vice President (whether or not designated by a number or
numbers or word or words before or after the title “Vice President”), the Treasurer, the Secretary and any Assistant Treasurer or any Assistant Secretary of the Company. 
  
 “Officers’ Certificate” means a certificate signed by two Officers, one of whom is the Chairman of the Board,
the Chief Executive Officer, the President, the Chief Financial Officer or the Treasurer of the Company. 
  
 “Opinion of Counsel” means a written opinion from legal counsel, who may be an employee of or counsel to the Company or the Trustee, except to
the extent otherwise indicated in this Indenture. 
  
 A
“person” means any individual, corporation, partnership, joint venture, trust, estate, unincorporated organization, limited liability company or government or any agency or political subdivision thereof. 
  
 “Principal Property” means any aircraft, or any aircraft engine
installed in any aircraft, that has 75 or more passenger seats, whether now owned or hereafter acquired by the Company or any Restricted Subsidiary. 
  
 “Purchase Agreement” means the Purchase Agreement related to the Notes, dated May 28, 2003, between the Company and the Initial Purchaser.

  
 “Purchase Date” means June 3, 2008, June 3, 2013 and
June 3, 2018, as applicable, as specified in the relevant Purchase Notice. 
  
 “Redemption Date” means the business day specified for redemption of the Notes in accordance with the terms of the Notes and this Indenture, as set forth in a notice of redemption. 
  
 “Registration Rights Agreement” means the Registration Rights
Agreement relating to the Notes and the Common Stock issuable upon conversion of such Notes, dated June 2, 2003, between the Company and the Initial Purchaser, as such agreement may be amended, modified or supplemented from time to time. 

 
 “Regular Record Date” means the May 19 or November 19
immediately preceding each Interest Payment Date. 
  

 4 

 “Restricted Common Stock Legend” means the legend labeled as such and that is set forth in
Exhibit B hereto. 
  
 “Restricted Securities Legend”
means the legend labeled as such and that is set forth in Exhibit A hereto. 
  
 “Restricted Subsidiary” means any subsidiary of the Company (i) substantially all of the property of which is located, and substantially all of the operations of which are conducted, in the United States,
and (ii) which owns a Principal Property, except a subsidiary which is primarily engaged in the business of a finance company. 
  
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 
  
 “Shelf Registration Statement” shall have the meaning set forth in
the Registration Rights Agreement. 
  
 A “subsidiary”
means, with respect to any person, (i) any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the
election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by such person or one or more of the other subsidiaries of that person (or a combination thereof) and (ii) any partnership (a) the sole
general partner or managing general partner of which is such person or a subsidiary of such person or (b) the only general partners of which are such person or of one or more subsidiaries of such person (or any combination thereof). 
  
 “TIA” means the Trust Indenture Act of 1939 (15 U.S. Code
§§ 77aaa- 77bbbb) as in effect on the date of execution of this Indenture, except as provided in Sections 9.03 and 11.07. 
  
 “trading price” shall have the meaning specified in Article 12 hereof and paragraph 9 of the Note, the form of which is attached hereto as
Exhibit A. 
  
 “Trust Officer” means, when used with
respect to the Trustee, any officer within the corporate trust department of the Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who
customarily performs functions similar to those performed by the persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the
particular subject and having direct responsibility for the administration of this Indenture. 
  
 “Trustee” means the party named as such above until a successor replaces it in accordance with the applicable provisions of this Indenture and thereafter means the successor. 
  
 “Voting Stock” of a corporation means all classes of Capital Stock
of such corporation then outstanding and normally entitled to vote in the election of directors. 
  

 5 

 SECTION 1.02 Other Definitions. 
  

	 	  	Defined in
Section

	 “Bankruptcy Law”
	  	6.01(g)
	 “business day”
	  	10.07
	 “Clearstream”
	  	2.01(a)
	 “closing price”
	  	11.05(g)
	 “Conversion Agent”
	  	2.03
	 “Conversion Date”
	  	11.02(d)
	 “Current Market Price”
	  	11.05(g)
	 “Custodian”
	  	6.01
	 “Designated Event Date”
	  	4.09(a)
	 “Designated Event Notice”
	  	4.09(a)
	 “Designated Event Offer”
	  	4.09(a)
	 “Designated Event Offer Termination Date”
	  	4.09(b)
	 “Designated Event Repurchase Date”
	  	4.09(b)
	 “Designated Event Repurchase Notice”
	  	4.09(c)
	 “Designated Event Repurchase Price”
	  	4.09(a)
	 “Euroclear”
	  	2.01(a)
	 “Event of Default”
	  	6.01
	 “Expiration Time”
	  	11.05(f)
	 “fair market value”
	  	11.05(g)
	 “Global Security”
	  	2.01
	 “Investment Company Act”
	  	3.09
	 “non-electing share”
	  	11.06
	 “Paying Agent”
	  	2.03
	 “Purchase Notice”
	  	4.08(a)(i)
	 “Purchase Price”
	  	4.08(a)
	 “Purchased Shares”
	  	11.05(f)
	 “Record Date”
	  	11.05(g)
	 “Redemption Price”
	  	4.01(a)
	 “Register”
	  	2.03
	 “Registrar”
	  	2.03
	 “Regulation S”
	  	2.01(a)
	 “Rule 144A”
	  	2.01(a)
	 “Securities”
	  	11.05(d)
	 “Special Record Date”
	  	2.12(b)
	 “trading day”
	  	11.05(g)
	 “Trigger Event”
	  	11.05(d)

  
 SECTION 1.03 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. All other terms in this Indenture that are defined 
  

 6 

 by the TIA, defined by TIA reference to another statute or defined by Commission rule under the TIA have the meanings so
assigned to them. 
  
 SECTION 1.04 Rules of Construction. 
  
 Unless the context otherwise requires: 
  

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

  

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

  

	 	(c)	 	“or” is not exclusive; 

  

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

  

	 	(e)	 	the male, female and neuter genders include one another. 

  
 ARTICLE 2 
  
 THE CONVERTIBLE SENIOR NOTES 
  
 SECTION 2.01 Form. 
  
 (a) GLOBAL SECURITIES. The Notes are being offered and sold by the Company pursuant to the Purchase Agreement. The Notes are being offered and sold (i)
outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act (“Regulation S”) or (ii) to “qualified institutional buyers” (as defined in Rule 144A) in reliance on Rule 144A under the
Securities Act (“Rule 144A”), each pursuant to the Purchase Agreement, and shall be issued in the form of one or more permanent global securities in definitive, fully registered form without interest coupons with the Global Securities
Legend and Restricted Securities Legend as set forth in Exhibit A hereto (each, a “Global Security”). Any Global Security shall be deposited on behalf of the purchasers of the Notes represented thereby with the Trustee, as custodian for
the Depositary, and registered in the name of the Depositary or a nominee of the Depositary for the accounts of participants in the Depositary (and, in the case of Notes held in accordance with Regulation S, registered in the name of the Depositary
or a nominee of the Depositary for the accounts of designated agents holding on behalf of the Euroclear System (“Euroclear”) or Clearstream Banking, société anonyme (“Clearstream”)), duly executed by the Company and
authenticated by the Trustee as hereinafter provided. The aggregate principal amount of a Global Security may from time to time be increased or decreased by adjustments made on the records of the Trustee and the Depositary or its nominee as
hereinafter provided. 
  
 (b) BOOK-ENTRY PROVISIONS. This Section
2.01(b) shall apply only to a Global Security deposited with or on behalf of the Depositary. The Company shall execute and the Trustee shall, in accordance with this Section 2.01(b) and the written order of the Company, authenticate and deliver
initially one or more Global Securities that (i) shall be registered in the name of Cede & Co. or other nominee of such Depositary and (ii) shall be delivered by the 
  

 7 

 Trustee to such Depositary or pursuant to such Depositary’s instructions or held by the Trustee as custodian for 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 by the Trustee as the custodian of the Depositary 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 herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect
to any written certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and its Agent Members, the operation of customary practices of such Depositary governing the exercise of the rights of a
holder of a beneficial interest in any Global Security. 
  
 The
provisions of the “Operating Procedures of the Euroclear System” and “Terms and Conditions Governing Use of Euroclear” and the “Management Regulations and Instructions to Participants” of Clearstream shall be applicable
to interests in any Global Securities that are held by participants through Euroclear or Clearstream. The Trustee shall have no obligation to notify Holders of any such procedures or to monitor or enforce compliance with the same. 
  
 (c) DEFINITIVE SECURITIES. Except as provided in Section 2.10, owners of
beneficial interests in Global Securities will not be entitled to receive physical delivery of certificated Notes in definitive form. If applicable, certificated Notes in definitive form will bear the Restricted Securities Legend set forth on
Exhibit A unless removed in accordance with Section 2.06(f). 
  
 SECTION 2.02 Execution and Authentication. 
  
 One Officer shall sign the Notes for the Company by manual or facsimile signature. 
  
 If an Officer whose signature is on a Note no longer holds that office at the time the Note is authenticated, the Note shall nevertheless be valid.

  
 A Note shall not be valid until authenticated by the manual
signature of the Trustee. The signature shall be conclusive evidence that the Note has been authenticated under this Indenture. 
  
 Upon a written order of the Company signed by an Officer of the Company, the Trustee shall authenticate Notes for original issue up to an aggregate
principal amount of $300,000,000 (plus up to an additional $50,000,000 aggregate principal amount of Notes that may be sold by the Company to the Initial Purchaser pursuant to the option granted pursuant to the Purchase Agreement). The aggregate
principal amount of Notes outstanding at any time may not exceed $350,000,000, except as provided in Section 2.07. 
  
 The Notes shall be issuable only in registered form without coupons and only in denominations of $1,000 or any integral multiple thereof. 
  
 The Trustee may appoint an authenticating agent acceptable to the Company to
authenticate Notes. An authenticating agent may authenticate Notes whenever the Trustee may 
  

 8 

 do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An
authenticating agent has the same right as an Agent to deal with the Company or an Affiliate of the Company. 
  
 SECTION 2.03 Registrar, Paying Agent and Conversion Agent. 
  
 The Company shall maintain or cause to be maintained in such locations as it shall determine, which may be the Corporate Trust Office, an office or
agency: (i) where securities may be presented for registration of transfer or for exchange (“Registrar”); (ii) where Notes may be presented for payment (“Paying Agent”); (iii) an office or agency where Notes may be presented for
conversion (the “Conversion Agent”); and (iv) where notices and demands to or upon the Company in respect of Notes and this Indenture may be served by the Holders. The Registrar shall keep a Register (“Register”) of the Notes and
of their transfer and exchange. The Company may appoint one or more co-registrars, one or more additional paying agents and one or more additional conversion agents. The term “Registrar” includes any additional registrar, the term
“Paying Agent” includes any additional paying agent and the term “Conversion Agent” includes any additional Conversion Agent. The Company may change any Paying Agent, Registrar, Conversion Agent or co-registrar without prior
notice. The Company shall notify the Trustee of the name and address of any Agent not a party to this Indenture and shall enter into an appropriate agency agreement with any Registrar, Paying Agent, Conversion Agent or co-registrar not a party to
this Indenture. The agreement shall implement the provisions of this Indenture that relate to such Agent. The Company or any of its subsidiaries may act as Paying Agent, Registrar, Conversion Agent or co-registrar, except that for purposes of
Article 6 and Section 4.09, neither the Company nor any of its subsidiaries shall act as Paying Agent. If the Company fails to appoint or maintain another entity as Registrar, or Paying Agent or Conversion Agent, the Trustee shall act as such, and
the Trustee shall initially act as such. 
  
 SECTION 2.04 Paying Agent to Hold
Money in Trust. 
  
 The Company shall require each Paying
Agent (other than the Trustee, who hereby so agrees) to agree in writing that the Paying Agent will hold in trust for the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal of, interest or Liquidated
Damages, if any, on, or the Redemption Price, Purchase Price or Designated Event Repurchase Price for, the Notes, and will notify the Trustee of any default by the Company in respect of making any such payment. While any such default continues, the
Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the
Company or a subsidiary of the Company) shall have no further liability for the money. If the Company or a subsidiary of the Company acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders all money
held by it as Paying Agent. 
  
 SECTION 2.05
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 TIA § 312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee at

  

 9 

 least seven business days before each Interest Payment Date, and as the Trustee may request in writing within fifteen
(15) days after receipt by the Company of any such request (or such lesser time as the Trustee may reasonably request in order to enable it to timely provide any notice to be provided by it hereunder), a list in such form and as of such date as the
Trustee may reasonably require of the names and addresses of Holders. 
  
 SECTION
2.06 Transfer and Exchange. 
  
 (a) When Notes are
presented to the Registrar or a co-registrar with a request to register a transfer or to exchange them for an equal principal amount of Notes for other denominations, the Registrar shall register the transfer or make the exchange if its requirements
for such transactions are met. To permit registrations of transfers and exchanges, the Company shall issue and the Trustee shall authenticate Notes at the Registrar’s request, bearing registration numbers not contemporaneously outstanding. No
service charge shall be made to a Holder for any registration of transfer or exchange (except as otherwise expressly permitted herein), but the Company and the Registrar may require payment of a sum sufficient to cover any transfer tax or other
governmental charge payable upon exchanges from the Holder requesting such registration of transfer or exchange. 
  
 (b) The Company shall not be required to make, and the Registrar need not register, transfers or exchanges of any Notes selected for redemption (except,
in the case of Notes to be redeemed in part, the portion thereof not to be redeemed) or any Notes in respect of which a Purchase Notice or Designated Event Repurchase Notice has been given and not withdrawn by the Holder thereof in accordance with
the terms of this Indenture (except, in the case of Notes to be purchased in part, the portion thereof not to be purchased). 
  
 (c) All Notes issued upon any transfer or exchange of Notes in accordance with this Indenture shall be the valid obligations of the Company, evidencing
the same debt, and entitled to the same benefits under this Indenture as the Notes surrendered upon such registration of transfer or exchange. 
  
 (d) Notwithstanding any provision to the contrary herein, so long as a Global Security remains outstanding and is held by or on behalf of the Depositary,
transfers of a Global Security, in whole or in part, or of any beneficial interest therein, shall only be made in accordance with Sections 2.01(b) and 2.10; provided, however, that beneficial interests in a Global Security may be transferred to
persons who take delivery thereof in the form of a beneficial interest in the Global Security in accordance with the transfer restrictions set forth under the heading “Notice to Investors” in the Offering Memorandum and, if applicable, in
the Restricted Securities Legend. 
  
 Except for transfers or
exchanges made in accordance with Section 2.10, transfers of a Global Security shall be limited to transfers of such Global Security in whole, but not in part, to nominees of the Depositary or to a successor of the Depositary or such
successor’s nominee. 
  
 (e) In the event that a Global
Security is exchanged for certificated Notes in definitive form pursuant to Section 2.10(b) prior to the effectiveness of a Shelf Registration Statement with respect to such Notes, such exchange may occur, and such Notes may be further exchanged or
transferred, only upon receipt by the Registrar of (1) such Global Security or such 
  

 10 

 Notes in definitive form, duly endorsed as provided herein, as applicable, (2) instructions from the Holder directing the
Trustee to authenticate and deliver one or more Notes in definitive form of the same aggregate principal amount as the Global Security or the Notes in definitive form (or portion thereof), as applicable, to be transferred, such instructions to
contain the name or names of the designated transferee or transferees, the authorized denomination or denominations of the Notes in definitive form to be so issued and appropriate delivery instructions, and (3) such certifications or other
information and, in the case of transfers pursuant to Rule 144 under the Securities Act, legal opinions as 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 (including the certification requirements intended to ensure that such transfers comply with Rule 144A or Regulation S under the Securities Act, as the case may be), and upon compliance with
such other procedures as may from time to time be adopted by the Company and the Registrar. 
  
 (f) Except in connection with a Shelf Registration Statement contemplated by and in accordance with the terms of the Registration Rights Agreement, if Notes are issued upon the registration of transfer, exchange or
replacement of Notes bearing a Restricted Securities Legend, or if a request is made to remove such a Restricted Securities Legend on the Notes, the Notes so issued shall bear the Restricted Securities Legend, or a Restricted Securities Legend shall
not be removed, as the case may be, unless there is delivered to the Company such satisfactory evidence, which, in the case of a transfer made pursuant to Rule 144 under the Securities Act, may include an opinion of counsel given in accordance with
the laws in the State of New York, as may be reasonably required by the Company, that neither the legend nor the restrictions on transfer set forth therein are required to ensure that transfers thereof comply with the provisions of Rule 144A, Rule
144 or Regulation S under the Securities Act or that such Notes are not “restricted” within the meaning of Rule 144 under the Securities Act. Upon provision to the Company of such satisfactory evidence, the Trustee, at the written
direction of the Company, shall authenticate and deliver Notes that do not bear the legend. The Company shall not otherwise be entitled to require the delivery of a legal opinion in connection with any transfer or exchange of Securities. 

 
 (g) Neither the Trustee nor any Agent shall have any responsibility for
any actions taken or not taken by the Depositary. 
  
 (h) The
Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Notes (including
any transfers between or among the Depositary’s participants or beneficial owners of interests in any Global Security) other than to require delivery of such certificates and other documentation as is expressly required by, and to do so if and
when expressly required by, the terms of this Indenture and to examine the same to determine substantial compliance as to form with the express requirements hereof. 
  
 SECTION 2.07 Replacement Convertible Senior Notes. 
  
 (a) If the Holder claims that its Note has been lost, destroyed or wrongfully taken, the Company shall issue and the Trustee
shall authenticate a replacement Note if the Trustee’s and 
  

 11 

 the Company’s requirements are met. If required by the Trustee or the Company as a condition of receiving a
replacement Note, the Holder must provide a certificate of loss and an indemnity and/or an indemnity bond sufficient, in the judgment of both the Company and the Trustee, to fully protect the Company, the Trustee, any Agent and any authenticating
agent from any loss, liability, cost or expense which any of them may suffer or incur if the Note is replaced. The Company and the Trustee may charge the relevant Holder for their expenses in replacing any Note. 
  
 (b) The Trustee or any authenticating agent may authenticate any such
substituted Note, and deliver the same upon the receipt of such security or indemnity as the Trustee and the Company may require. Upon the issuance of any substituted Note, the Company and the Trustee 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 connected therewith. In case any Note which has matured or is about to mature, submitted for redemption or repurchase pursuant to Article 4 or
is about to be converted into Common Stock pursuant to Articles 11 and 12, shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Note, pay or authorize the payment of or convert or authorize the
conversion of the same (without surrender thereof except in the case of a mutilated Note), as the case may be, if the applicant for such payment or conversion shall furnish to the Company, to the Trustee and, if applicable, to the paying agent or
conversion agent such security or indemnity as may be required by the Company or the Trustee to save each of them harmless for any loss, liability, cost or expense caused by or connected with such substitution, and, in case of destruction, loss or
theft, evidence satisfactory to the Company, the Trustee and, if applicable, any paying agent or conversion agent of the destruction, loss or theft of such Note and of the ownership thereof. 
  
 (c) Every replacement Note is an additional obligation of the Company and
shall be entitled to all the benefits provided under this Indenture equally and proportionately with all other Notes duly issued, authenticated and delivered hereunder. 
  
 SECTION 2.08 Outstanding Convertible Senior Notes. 
  
 The Notes outstanding at any time are all the Notes properly authenticated by the Trustee except for those cancelled by the
Trustee, those delivered to it for cancellation, and those described in this Section as not outstanding. 
  
 If a Note is replaced pursuant to Section 2.07, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Note is
held by a bona fide purchaser. 
  
 If Notes are considered paid
under Section 3.01 or converted pursuant to Articles 11 and 12, they cease to be outstanding, and interest and Liquidated Damages, if any, on them ceases to accrue. 
  
 Subject to Section 2.09 hereof, a Note does not cease to be outstanding because the Company or an Affiliate of the Company
holds the Note. 
  

 12 

 SECTION 2.09 When Treasury Convertible Senior Notes Disregarded. 
  
 In determining whether the Holders of the required principal amount of Notes
have concurred in any direction, waiver or consent, Notes owned by the Company or an Affiliate of the Company shall be considered as though they are not outstanding except that for the purposes of determining whether the Trustee shall be protected
in relying on any such direction, waiver or consent, only Notes which a Trust Officer of the Trustee actually knows are so owned shall be so disregarded. 
  
 SECTION 2.10 Temporary Convertible Senior Notes. 
  
 (a) Until definitive Notes are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Notes. Temporary Notes shall be
substantially in the form of definitive Notes but may have variations that the Company considers appropriate for temporary Notes and shall be reasonably acceptable to the Trustee. Without unreasonable delay, the Company shall prepare and the Trustee
shall authenticate definitive Notes in exchange for temporary Notes. 
  
 (b) A Global Security deposited with the Depositary or with the Trustee as custodian for the Depositary pursuant to Section 2.01 shall be transferred to the beneficial owners thereof in the form of certificated Notes in definitive form only
if such transfer complies with Section 2.06 and (i) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for such Global Security or if at any time such Depositary ceases to be a “clearing agency”
registered under the Exchange Act and a successor Depositary is not appointed by the Company within 90 days of such notice, or (ii) an Event of Default has occurred and is continuing. 
  
 (c) Any Global Security or interest thereon that is transferable to the beneficial owners thereof in the form of
certificated Notes in definitive form shall, if held by the Depository, be surrendered by the Depositary to the Trustee, without charge, and the Trustee shall authenticate and deliver, upon such transfer of each portion of such Global Security, an
equal aggregate principal amount of Notes of authorized denominations in the form of certificated Notes in definitive form. Any portion of a Global Security transferred pursuant to this Section shall be executed, authenticated and delivered only in
denominations of $1,000 and any integral multiple thereof and registered in such names as the Depositary shall direct. Any Notes in the form of certificated Notes in definitive form delivered in exchange for an interest in the Global Security shall,
except as otherwise provided by Section 2.06(f), bear the Restricted Securities Legend set forth in Exhibit A hereto. 
  
 (d) Prior to any transfer pursuant to Section 2.10(b), the registered Holder of a Global Security may grant proxies and otherwise authorize any person,
including Agent Members and persons that may hold interests through Agent Members, to take any action that a Holder is entitled to take under this Indenture or the Notes. 
  
 SECTION 2.11 Cancellation. 
  
 The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent shall forward to the Trustee any Notes
surrendered to them for 
  

 13 

 registration of transfer, exchange or payment. The Trustee and no one else may cancel Notes surrendered for registration
of transfer, exchange, payment, replacement, conversion, repurchase or cancellation. Upon written instructions of the Company, the Trustee shall dispose of cancelled Notes in accordance with its procedures for the disposition of cancelled securities
in effect as of the date of such disposition and, after such disposition, shall deliver a certificate of disposition to the Company. The Company may not issue new Notes to replace Notes that it has paid or repurchased or that have been delivered to
the Trustee for cancellation or that any Holder has (i) converted pursuant to Articles 11 and 12 hereof or (ii) submitted for repurchase pursuant to Article 4 hereof (unless such submission is withdrawn in accordance with the terms of this
Indenture). 
  
 SECTION 2.12 Defaulted Interest. 
  
 (a) If the Company fails to make a payment of interest on the Notes, it
shall pay such defaulted interest plus, to the extent lawful, any interest payable on the defaulted interest. It may pay such defaulted interest, plus any such interest payable on it, to the persons who are Holders on a subsequent special record
date. The Company shall fix any such record date. 
  
 (b) The
Company may elect to make payment of any defaulted interest to the persons in whose names the Notes are registered at the close of business on a special record date for the payment of such defaulted interest, which shall be fixed in the following
manner. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment (which shall not be less than 20 days after such notice is received by the Trustee),
and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit on or
prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons entitled to such defaulted interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the
payment of such defaulted interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment (the
“Special Record Date”). The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such defaulted interest and the Special
Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Notes at his address as it appears on the list of Securityholders maintained pursuant to Section 2.05 not less than 10 days prior to such Special Record Date. Notice
of the proposed payment of such defaulted interest and the Special Record Date therefor having been mailed as aforesaid, such defaulted interest shall be paid to the persons in whose names the Notes are registered at the close of business on such
Special Record Date and shall no longer be payable pursuant to the following paragraph (c). 
  
 (c) The Company may make payment of any defaulted interest on the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Notes may be listed, and upon such
notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 
  

 14 

 SECTION 2.13 CUSIP Number. 
  
 The Company in issuing the Notes may use a “CUSIP” number and, if so, such CUSIP number shall be included in
notices of repurchase or exchange as a convenience to Holders; provided, however, that any such notice may state that no representation is made as to the correctness or accuracy of the CUSIP number printed in the notice or on the Notes and that
reliance may be placed only on the other identification numbers printed on the Notes. The Company will promptly notify the Trustee of any change in the CUSIP number. 
  
 SECTION 2.14 Restrictions on Transfer. 
  
 The Company agrees that it will refuse to register any transfer of Notes or any shares of Common Stock issued upon conversion of Notes that is not made in
accordance with the provisions of Regulation S under the Securities Act, pursuant to a registration statement which has been declared effective under the Securities Act or pursuant to an available exemption from the registration requirements of the
Securities Act; provided that the provisions of this paragraph shall not be applicable to any Notes which do not bear a Restricted Securities Legend or to any shares of Common Stock evidenced by certificates which do not bear a Restricted Common
Stock Legend. 
  
 ARTICLE 3 
  
 COVENANTS 
  
 SECTION 3.01 Payments on the Notes. 
  
 The Company shall pay the principal of and interest and Liquidated Damages, if any, on the Notes on the dates and in the manner provided in the Notes.
Principal, interest, Liquidated Damages, if any, Redemption Price, Purchase Price and Designated Event Repurchase Price, as applicable, shall be considered paid on the date due if the Trustee or Paying Agent (other than the Company or a subsidiary
of the Company) holds as of 10:00 a.m., New York City time, on that date immediately available funds designated for and sufficient to pay all principal, interest, Liquidated Damages, if any, Redemption Price, Purchase Price or the Designated Event
Repurchase Price then due. 
  
 To the extent lawful, the Company
shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on (i) overdue principal, at the rate borne by the Notes, compounded semiannually; and (ii) overdue installments of interest and Liquidated Damages, if
any (without regard to any applicable grace period) at the same rate, compounded semiannually. 
  
 SECTION 3.02 Commission Reports. 
  
 The Company shall comply with Section 314(a) of the TIA. Whether or not required by the rules and regulations of the Commission, so long as any of the Notes are outstanding, the Company shall file with the Commission
and furnish to the Trustee all quarterly and annual financial information (without exhibits) required to be contained in a filing on Form 10-Q and Form 10-K, including a “Management’s Discussion and Analysis of Financial Condition and

  

 15 

 Results of Operations,” and, with respect to the annual consolidated financial statements only, a report thereon by
the independent auditors of the Company. 
  
 SECTION 3.03 Compliance
Certificate. 
  
 The Company shall deliver to the Trustee
within 120 days after the end of each fiscal year of the Company, an Officers’ Certificate stating that a review of the activities of the Company and its subsidiaries during the preceding fiscal year has been made under the supervision of the
signing Officers with a view to determining whether the Company has fully performed its obligations under this Indenture and further stating, as to each such Officer signing such certificate, that to the best of his or her knowledge, the Company is
not in default in the performance or observance of any of the terms and conditions hereof (or, if any Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which he or she may have knowledge) and, that
to the best of his or her knowledge, no event has occurred and remains in existence by reason of which payments on account of the principal of or interest or Liquidated Damages, if any, on the Notes are prohibited. 
  
 The Company shall, so long as any of the Notes are outstanding, deliver to
the Trustee, forthwith upon becoming aware of any Default or Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto. 
  
 SECTION 3.04 Maintenance of Office or Agency. 
  
 The Company shall maintain or cause to be maintained the office or agency
required under Section 2.03. The Company shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency not maintained by the Trustee. If at any time the Company shall fail to maintain any
such required office or agency or shall fail to furnish the Trustee with the address thereof, presentations, surrenders, notices and demands with respect to the Notes may be made or served at the Corporate Trust Office of the Trustee. 
  
 The Company may also from time to time designate one or more other offices or
agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designation. 
  
 SECTION 3.05 Continued Existence. 
  
 Subject to Article 5, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence.

  
 SECTION 3.06 Appointments to Fill Vacancies in Trustee’s Office.

  
 The Company, whenever necessary to avoid or fill a vacancy in
the office of Trustee, will appoint, in the manner provided in Section 7.08, a Trustee, so that there shall at all times be a Trustee hereunder. 
  

 16 

 SECTION 3.07 Stay, Extension and Usury Laws. 
  
 The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead or in any
manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter enforced, that may affect the Company’s obligation to pay the Notes; and the Company (to the extent
that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law insofar as such law applies to the Notes, and covenants that it shall not, by resort to any such law, hinder, delay or impede the execution of any power
herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law has been enacted. 
  
 SECTION 3.08 Taxes. 
  
 The Company shall, and shall cause each of its subsidiaries to, pay prior to delinquency all taxes, assessments and government levies; provided, however,
that the Company shall not be required to pay or cause to be paid any such tax, assessment or levy (a) if the failure to do so will not, in the aggregate, have a material adverse impact on the Company and its subsidiaries taken as a whole, or (b) if
the amount, applicability or validity is being contested in good faith by appropriate proceedings. 
  
 SECTION 3.09 Investment Company Act. 
  
 As long as any Notes are outstanding, the Company will conduct its business and operations so as not to become an “investment company” within the meaning of the Investment Company Act of 1940, as amended
(the “Investment Company Act”), and will take all steps required in order for it to continue not to be an “investment company” and not to be required to be registered under the Investment Company Act, including, if necessary,
redeployment of the assets of the Company. 
  
 ARTICLE 4

  
 REDEMPTION AND PURCHASE 
  
 SECTION 4.01 Right to Redeem; Notices to Trustee. 
  
 (a) The Company, at its option, may redeem all or a portion of the Notes on
or after June 5, 2008 at a redemption price in cash (“Redemption Price”) equal to 100% of the principal amount thereof, plus any accrued and unpaid interest to, but excluding, the Redemption Date. 
  
 (b) If the Company elects to redeem Notes pursuant to the terms of the Notes
and this Indenture, it shall notify the Trustee in writing of the Redemption Date, the principal amount of Notes to be redeemed and the Redemption Price payable on the Redemption Date. The Company shall deliver to the Trustee the notice of
redemption provided for in this Section 4.01 by means of a written request or order signed in the name of the Company by any two Officers at least 45 days before the Redemption Date (unless a shorter notice shall be satisfactory to the Trustee).

  

 17 

 SECTION 4.02 Selection of Notes to Be Redeemed. 
  
 (a) If less than all the Notes are to be redeemed, the Trustee shall select the Notes to be redeemed pro rata or by lot or
by any other method the Trustee considers fair and appropriate (so long as such method is not prohibited by the rules of any stock exchange on which the Notes are then listed). The Trustee shall make the selection at least 30 days but not more than
60 days before the Redemption Date from outstanding Notes not previously called for redemption. 
  
 (b) Notes and portions of them the Trustee selects shall be in principal amounts of $1,000 or an integral multiple of $1,000. Provisions of this Indenture
that apply to Notes called for redemption also apply to portions of Notes called for redemption. The Trustee shall notify the Company promptly of the amount of Notes or portions thereof to be redeemed. 
  
 (c) If any Note selected for partial redemption is converted in part before
termination of the conversion right with respect to the portion of the Notes so selected, the converted portion of such Notes shall be deemed to be the portion selected for redemption. Notes that have been converted during a selection of Notes to be
redeemed may be treated by the Trustee as outstanding for the purpose of such selection. 
  
 SECTION 4.03 Notice of Redemption. 
  
 (a) At least 30 days but not more than 60 days before a Redemption Date, the Company shall mail a notice of redemption by first-class mail, postage prepaid, to each Holder of Notes to be redeemed. The notice shall
identify the Notes to be redeemed and shall state: 
  
 (i) the Redemption Date; 
  
 (ii) the
Redemption Price payable on the Redemption Date; 
  
 (iii) the then current Conversion Price; 
  
 (iv) the name and address of the Paying Agent and Conversion Agent; 
  
 (v) that Notes called for redemption may be converted at any time prior to the close of business on the Redemption Date; 
  
 (vi) that Holders who want to convert Notes must satisfy the requirements set forth in paragraph 9 of the Note; 
  
 (vii) that Notes called for redemption must be surrendered
to the Paying Agent to collect the Redemption Price; 
  
 (viii) if fewer than all the outstanding Notes are to be redeemed, the certificate number(s) or CUSIP number(s) and principal amounts of the particular Notes to be redeemed; 
  
 (ix) that, unless the Company defaults in making payment of such Redemption Price, the Notes called for
redemption will cease to be outstanding and interest and 
  

 18 

 
Liquidated Damages, if any, on the Notes called for redemption will cease to accrue on and after the Redemption Date; and 
  
 (x) that all rights of the Holder will terminate on and
after the Redemption Date (other than the right to receive the Redemption Price upon delivery or transfer of the Notes called for redemption). 
  
 (b) At the Company’s request, the Trustee shall give the notice of redemption in the Company’s name and at the Company’s expense, provided
that the Company makes such request at least five business days (unless a shorter period shall be satisfactory to the Trustee) prior to the date such notice of redemption must be mailed. 
  
 SECTION 4.04 Effect of Notice of Redemption. 
  
 Once notice of redemption is given, Notes called for redemption become due and payable on the Redemption Date and at the
Redemption Price stated in the notice of redemption, except for Notes which are converted in accordance with the terms of this Indenture. Upon surrender to the Paying Agent, such Notes shall be paid at the Redemption Price stated in the notice of
redemption. 
  
 SECTION 4.05 Deposit of Redemption Price. 
  
 (a) Prior to 10:00 a.m. (New York City time) on the Redemption Date, the
Company shall deposit with the Paying Agent (or if the Company or a subsidiary or an Affiliate of either of them is the Paying Agent, shall segregate and hold in trust) money sufficient to pay the Redemption Price for all Notes to be redeemed on
that date other than Notes or portions of Notes called for redemption which on or prior thereto have been delivered by the Company to the Trustee for cancellation or have been converted. The Paying Agent shall as promptly as practicable return to
the Company any money not required for that purpose because of conversion of Notes pursuant to Articles 11 and 12. If such money is then held by the Company or its subsidiary or an Affiliate of either of them, as Paying Agent, in trust and is not
required for such purpose it shall be discharged from such trust. 
  
 (b) If as of 10:00 a.m. (New York City time) on any Redemption Date the Paying Agent holds money sufficient to pay in full the Redemption Price for all Notes to be redeemed on such Redemption Date, other than Notes or portions of Notes
called for redemption which on or prior thereto have been delivered by the Company to the Trustee for cancellation or have been converted, the Notes will cease to be outstanding immediately following the close of business on the Redemption Date and
interest and Liquidated Damages, if any, on the Notes so purchased will cease to accrue on and after such Redemption Date. In such event, all rights of the Holder will terminate, other than the right to receive the Redemption Price upon delivery or
transfer of the Notes to be so purchased. 
  
 SECTION 4.06 Notes Redeemed in
Part. 
  
 Upon surrender of a Note that is redeemed in part,
the Company shall execute and the Trustee shall authenticate and deliver to the Holder a new Note in an authorized denomination equal in principal amount to the unredeemed portion of the Notes surrendered. 
  

 19 

 SECTION 4.07 Arrangement on Call for Redemption. 
  
 (a) In connection with any redemption of Notes, the Company may arrange at or shortly before the time of the redemption for
the purchase of any Notes called for redemption by an agreement with one or more investment banks or other purchasers to purchase such Notes by paying to the Trustee in trust for the Holders, on or prior to 10:00 a.m. (New York City time) on the
Redemption Date, an amount that, together with any amounts deposited with the Trustee by the Company for the redemption of such Notes, is not less than the Redemption Price of such Notes. Notwithstanding anything to the contrary contained in this
Article 4, the obligation of the Company to pay the Redemption Prices of such Notes shall be deemed to be satisfied and discharged to the extent such amount is so paid by such purchasers. 
  
 (b) If such an agreement is entered into, any Notes not duly surrendered for conversion by the Holders thereof may, at the
option of the Company, be deemed, to the fullest extent permitted by law, acquired by such purchasers from such Holders as of the close of business on the Redemption Date, subject to payment of the above amount as aforesaid. 
  
 (c) The Trustee shall hold and pay to the Holders whose Notes are selected
for redemption any such amount paid to it for purchase in the same manner as it would moneys deposited with it by the Company for the redemption of Notes. Without the Trustee’s prior written consent, no arrangement between the Company and such
purchasers for the purchase of any Notes shall increase or otherwise affect any of the powers, duties, responsibilities or obligations of the Trustee as set forth in this Indenture, and the Company agrees to indemnify the Trustee from, and hold it
harmless against, any loss, liability or expense arising out of or in connection with any such arrangement for the purchase of any Notes between the Company and such purchasers, including the costs and expenses incurred by the Trustee in the defense
of any claim or liability arising out of or in connection with the exercise or performance of any of its powers, duties, responsibilities or obligations under this Indenture. 
  
 SECTION 4.08 Purchase of Notes at the Option of the Holders. 
  
 (a) Notes shall be purchased by the Company at the option of the Holder thereof, in whole or in part, at a purchase price in
cash (the “Purchase Price”) equal to 100% of the principal amount thereof, plus any accrued and unpaid interest to, but excluding, the relevant Purchase Date, upon: 
  
 (i) delivery to the Paying Agent by the Holder of a written notice of purchase (a “Purchase
Notice”) at any time from the opening of business on the date that is at least 20 business days prior to the relevant Purchase Date until the close of business on the fifth business day prior to such Purchase Date stating: 
  
 (A) the relevant Purchase Date; 
  
 (B) the certificate number(s) or CUSIP number(s) of the
Notes which the Holder will deliver to be purchased; 
  

 20 

 (C) the portion of the principal amount of the Notes which the Holder will deliver to be
purchased, which portion must be a principal amount of $1,000 or an integral multiple thereof; and 
  
 (D) that such Notes shall be purchased as of the Purchase Date pursuant to the terms and conditions specified in the Notes and in this
Indenture; and 
  
 (ii) delivery of such Notes to
the Paying Agent prior to the close of business on the business day prior to the Purchase Date (together with all necessary endorsements) at the offices of the Paying Agent, such delivery being a condition to receipt by the Holder of the Purchase
Price therefor. 
  
 (b) The Company shall purchase from the Holder
thereof, pursuant to this Section 4.08, a portion of a Note if the principal amount of such portion is $1,000 or an integral multiple of $1,000. Provisions of this Indenture that apply to the purchase of all of a Note also apply to the purchase of
such portion of such Note. 
  
 (c) Any purchase by the Company
contemplated pursuant to the provisions of this Section 4.08 shall be consummated by the delivery of the Purchase Price promptly following the later of the Purchase Date and the time of delivery of the Note. 
  
 (d) Notwithstanding anything herein to the contrary, any Holder delivering to
the Paying Agent the Purchase Notice contemplated by this Section 4.08 shall have the right to withdraw such Purchase Notice at any time prior to the close of business on the fifth business day prior to the Purchase Date by delivery of a written
notice of withdrawal to the Paying Agent in accordance with Section 4.10. The Paying Agent shall promptly notify the Company of the receipt by it of any Purchase Notice or written notice of withdrawal thereof. 
  
 (e) On or before the 20th business day prior to each Purchase Date, the Company shall deliver to the Trustee, the Paying Agent, each Holder and, if required by applicable law, each
beneficial holder of Notes, a written notice stating: 
  
 (i) the Purchase Price payable on such Purchase Date; 
  
 (ii) procedures that Holders must follow to have their Notes purchased on the relevant Purchase Date; 
  
 (iii) the then current Conversion Price; 
  
 (iv) the name and address of the Paying Agent and Conversion Agent; 
  
 (v) that Holders who have delivered a Purchase Notice and who want to convert their Notes must first
withdraw their Purchase Notice in accordance with the terms of this Indenture and such Holders must satisfy the requirements set forth in paragraph 9 of the Note; 
  

 21 

 (vi) that Notes must be surrendered to the Paying Agent to collect the Purchase Price;

  
 (vii) that, unless the Company defaults in
making payment of such Purchase Price, the Notes so purchased will cease to be outstanding and interest and Liquidated Damages, if any, on the Notes so purchased will cease to accrue on and after the relevant Purchase Date; 
  
 (viii) that all rights of the Holder will terminate on and
after the relevant Purchase Date (other than the right to receive the Purchase Price upon delivery or transfer of the Notes to be purchased); and 
  
 (ix) if fewer than all the outstanding Notes are to be purchased, the certificate/CUSIP number(s) and principal amounts of the particular
Notes to be purchased. 
  
 (f) Simultaneously with delivering the
written notice pursuant to Section 4.08(e) above, the Company shall publish a notice containing all information specified in such written notice in a newspaper of general circulation in The City of New York, or publish such information on the
Company’s website, or through such other public medium that reasonably could be expected to inform Holders of such information. 
  
 (g) Procedure upon Purchase. The Company shall deposit the cash at the time and in the manner as provided in Section 4.11, in an amount sufficient
to pay the aggregate Purchase Price of all Notes to be purchased pursuant to this Section 4.08. 
  
 SECTION 4.09 Repurchase at the Option of Holders Upon Designated Event. 
  
 (a) Following a Designated Event (the date of each such occurrence being the “Designated Event Date”), the Company shall notify the Holders in
writing of such occurrence (such written notice referred to herein as the “Designated Event Notice”) and shall make an offer (the “Designated Event Offer”) to repurchase all Notes then outstanding at a repurchase price in cash
(the “Designated Event Repurchase Price”) equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but excluding, the Designated Event Repurchase Date (as defined below). If the Designated Event Repurchase Date
is an Interest Payment Date, the Company shall pay interest to the person in whose name the Note is registered on the relevant Regular Record Date. 
  
 (b) The Designated Event Notice shall be mailed by or at the direction of the Company to the Holders as shown on the Register of such Holders maintained
by the Registrar not more than 30 days after the applicable Designated Event Date at the addresses as shown on the Register maintained by the Registrar, with a copy to the Trustee and the Paying Agent. The Designated Event Offer shall remain open
until a specified date (the “Designated Event Offer Termination Date”) that is 20 business days from the date the Designated Event Notice is mailed. Prior to the Designated Event Offer Termination Date, Holders may elect to tender their
Notes in whole or in part in integral multiples of $1,000 in exchange for cash. Payment shall be made by the Company in respect of Notes properly tendered pursuant to this Section (such date of payment 
  

 22 

 being referred to herein as the “Designated Event Repurchase Date”) promptly following the Designated Event
Offer Termination Date. 
  
 (c) The Designated Event Notice, which
shall govern the terms of the Designated Event Offer, shall include a form of written notice of repurchase substantially in the form attached in Exhibit A hereto (the “Designated Event Repurchase Notice”) to be completed by the Holder and
shall include such disclosures as are required by law and shall state: 
  
 (i) that a Designated Event Offer is being made pursuant to this Section 4.09 and that all Notes properly tendered will be accepted for payment; 
  
 (ii) the certificate number(s) or CUSIP number(s) of the Notes pursuant to which the Designated Event Offer
is being made; 
  
 (iii) the event, transaction
or transactions that constitute the Designated Event, the date of such Designated Event and that Holders have the right to elect to have their Notes repurchased in accordance with the Company’s Designated Event Offer; 
  
 (iv) the Designated Event Repurchase Price for each Note,
the Designated Event Offer Termination Date and the Designated Event Repurchase Date; 
  
 (v) the name and address of the Paying Agent and the Conversion Agent; 
  
 (vi) that Notes as to which a Designated Event Repurchase Notice has been given may be converted pursuant to
this Section 4.09 only if the Designated Event Repurchase Notice has been withdrawn in accordance with the terms of this Indenture; 
  
 (vii) that any Note not accepted for payment will continue to accrue interest and Liquidated Damages, if applicable, in accordance with
the terms thereof; 
  
 (viii) that, unless the
Company defaults on making the Designated Event Repurchase Price, any Note accepted for payment pursuant to the Designated Event Offer shall cease to accrue interest and Liquidated Damages, if any, on and after the Designated Event Repurchase Date
and no further interest or Liquidated Damages, if any, shall accrue on or after such date and any conversion rights associated with any Note accepted for payment pursuant to the Designated Event Offer shall terminate on the Designated Event Offer
Termination Date; 
  
 (ix) that Holders electing
to have Notes repurchased pursuant to a Designated Event Offer will be required to surrender their Notes to the Paying Agent at the address specified in the Designated Event Notice prior to 5:00 p.m., New York City time, on the Designated Event
Offer Termination Date and must complete any form letter of transmittal proposed by the Company and acceptable to the Trustee and the Paying Agent; 
  
 (x) that Holders will be entitled to withdraw their election if the Paying Agent receives, not later than 5:00 p.m., New York City time,
on the Designated Event Offer Termination Date, a facsimile transmission or letter setting forth the name of the Holder, 
  

 23 

 
the principal amount of Notes the Holder delivered for purchase, the certificate number(s) or CUSIP number(s) of the Notes and a statement that such Holder
is withdrawing his election to have such Notes purchased; 
  
 (xi) that Holders whose Notes are repurchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered; 
  
 (xii) the procedures that Holders must follow in order to
tender their Notes; and 
  
 (xiii) that in the
case of a Designated Event Repurchase Date that is also an Interest Payment Date, the interest payment and Liquidated Damages, if any, due on such date shall be paid to the person in whose name the Note is registered at the close of business on the
relevant Designated Event Offer Termination Date. 
  
 (d) A Holder
may exercise its rights specified in this Section 4.09 upon delivery of a Designated Event Repurchase Notice to the Trustee with a copy to the Paying Agent at any time on or prior to the Designated Event Offer Termination Date. 
  
 (e) The delivery of a Holder’s Notes to the Trustee and the Paying Agent
with the Designated Event Repurchase Notice (together with all necessary endorsements) at the office of the Trustee and the Paying Agent shall be a condition to the receipt by the Holder of the Designated Event Repurchase Price therefor; provided,
however, that such Designated Event Repurchase Price shall be so paid pursuant to this Section 4.09 only if the Notes so delivered to the Trustee and the Paying Agent shall conform in all respects to the description thereof set forth in the related
Designated Event Repurchase Notice. 
  
 (f) Notwithstanding
anything herein to the contrary, any Holder delivering to the Paying Agent the Designated Event Repurchase Notice contemplated by this Section 4.09 shall have the right to withdraw such Designated Event Repurchase Notice at any time on or prior to
the Designated Event Offer Termination Date by delivery of a written notice of withdrawal to the Paying Agent in accordance with Section 4.10. The Paying Agent shall promptly notify the Company of the receipt by it of any Designated Event Repurchase
Notice or written withdrawal thereof. 
  
 (g) On the Designated
Event Offer Termination Date, the Company shall (i) accept for payment all Notes or portions thereof properly tendered pursuant to the Designated Event Offer, (ii) deposit with the Paying Agent money sufficient to pay the Designated Event Repurchase
Price with respect to all Notes or portions thereof so tendered and accepted and (iii) deliver or cause to be delivered to the Trustee for cancellation the Notes so accepted together with an Officers’ Certificate setting forth the aggregate
principal amount of Notes or portions thereof tendered to and accepted for payment by the Company. On the Designated Event Repurchase Date, the Paying Agent shall mail or deliver the Designated Event Repurchase Price to the Holders so accepted and
the Trustee shall promptly authenticate and mail or cause to be transferred by book-entry to such Holders a new Note equal in principal amount to any unpurchased portion of the Note surrendered, if any; provided that such new Notes will be in a
principal amount of $1,000 or an integral multiple thereof. Any Notes not so accepted shall be promptly mailed or delivered by the Company to the Holder thereof. 
  

 24 

 (h) In the case of any reclassification, change, consolidation, merger, share exchange, combination or
sale or conveyance to which Section 11.06 applies in which the Common Stock of the Company is changed or exchanged as a result into the right to receive stock, securities or other property or assets (including cash) which includes shares of Common
Stock of the Company or another person that are, or upon issuance will be, traded on a United States national securities exchange or approved for trading on an established automated over-the-counter trading market in the United States and such
shares constitute at the time such change or exchange becomes effective in excess of 50% of the aggregate fair market value of such stock, securities other property and assets (including cash) (as determined by the Company, which determination shall
be conclusive and binding), then the person formed by such consolidation or resulting from such merger or share exchange or which acquires such assets, as the case may be, shall execute and deliver to the Trustee a supplemental indenture (which
shall comply with the TIA as in force at the date of execution of such supplemental indenture) modifying the provisions of this Indenture relating to the right of Holders to cause the Company to repurchase Notes following a Designated Event,
including the applicable provisions of this Section 4.09 and the definition of Designated Event, as determined in good faith by the Company (which determination shall be conclusive and binding), to make such provision apply to such common stock and
the issuer thereof if different from the Company and Common Stock of the Company (in lieu of the Company and the Common Stock of the Company). 
  
 SECTION 4.10 Effect of Purchase Notice or Designated Event Repurchase Notice. 
  
 (a) Upon receipt by the Paying Agent of the Purchase Notice or Designated Event Repurchase Notice specified in Section 4.08
or Section 4.09, as applicable, the Holder in respect of which such Purchase Notice or Designated Event Repurchase Notice, as the case may be, was given shall (unless such Purchase Notice or Designated Event Repurchase Notice is withdrawn as
specified in the following two paragraphs) thereafter be entitled to receive solely the Purchase Price or Designated Event Repurchase Price, as the case may be, with respect to such Note. Such Purchase Price or Designated Event Repurchase Price
shall be paid to such Holder, subject to receipt of funds by the Paying Agent, promptly following the later of (x) the Purchase Date or the Designated Event Offer Termination Date, as the case may be, with respect to such Note (provided the
conditions in Section 4.08 or Section 4.09, as applicable, have been satisfied) and (y) the time of delivery of such Note to the Paying Agent by the Holder thereof in the manner required by Section 4.08 or Section 4.09, as applicable. Notes in
respect of which a Purchase Notice or Designated Event Repurchase Notice, as the case may be, has been given by the Holder thereof may not be converted pursuant to Articles 11 and 12 hereof on or after the date of the delivery of such Purchase
Notice or Designated Event Repurchase Notice, as the case may be, unless such Purchase Notice or Designated Event Repurchase Notice, as the case may be, has first been validly withdrawn as specified in the following paragraph. 
  
 (b) A Purchase Notice or Designated Event Purchase Notice, as the case may
be, may be withdrawn by means of a written notice of withdrawal delivered to the office of the Paying Agent in accordance with the Purchase Notice or Designated Event Purchase Notice, as the case may be, at any time prior to the close of business on
the Purchase Date or the Designated Event Payment Date, as the case may be, specifying: 
  

 25 

 (i) the principal amount of the Note with respect to which such notice of withdrawal is
being submitted; 
  
 (ii) the certificate
number(s) or CUSIP number(s) of the Note in respect of which such notice of withdrawal is being submitted; and 
  
 (iii) the principal amount, if any, of such Note which remains subject to the original Purchase Notice or Designated Event Repurchase
Notice, as the case may be, and which has been or will be delivered for purchase by the Company. 
  
 (c) There shall be no purchase of any Notes pursuant to Section 4.08 if there has occurred (prior to, on or after, as the case may be, the giving, by the
Holders of such Notes of the required Purchase Notice) and is continuing an Event of Default (other than a default in the payment of the Purchase Price with respect to such Notes). The Paying Agent will promptly return to the respective Holders
thereof any Notes (x) with respect to which a Purchase Notice has been delivered in compliance with this Indenture, or (y) held by it during the continuance of an Event of Default (other than a default in the payment of the Purchase Price with
respect to such Notes), in which case, upon such return, the Purchase Notice with respect thereto shall be deemed to have been withdrawn. 
  
 SECTION 4.11 Deposit of Purchase Price or Designated Event Repurchase Price. 
  
 (a) Prior to 10:00 a.m. (New York City time) on the Purchase Date or the Designated Event Repurchase Date, as the case may
be, the Company shall deposit with the Trustee or with the Paying Agent (or, if the Company or a subsidiary or an Affiliate of either of them is acting as the Paying Agent in connection with a purchase pursuant to Section 4.08, shall segregate and
hold in trust as provided in Section 2.04) an amount of money (in immediately available funds if deposited on such business day) sufficient to pay the aggregate Purchase Price or Designated Event Repurchase Price, as the case may be, of all the
Notes or portions thereof which are to be purchased as of the Purchase Date or Designated Event Repurchase Date, as the case may be. 
  
 (b) If the Paying Agent holds money sufficient to pay in full the relevant Purchase Price or Designated Event Repurchase Price, as applicable, for all
Notes to be purchased on the relevant Purchase Date or Designated Event Repurchase Date, as applicable, other than Notes or portions of Notes which on or prior thereto have been delivered by the Company to the Trustee for cancellation or have been
converted, the Notes will cease to be outstanding immediately following the close of business on the relevant Purchase Date or Designated Event Repurchase Date, as applicable, and interest and Liquidated Damages, if any, on the Notes so purchased
will cease to accrue on and after such Purchase Date or Designated Event Repurchase Date, as applicable. In such event, all rights of the Holder will terminate on and after the relevant Purchase Date or Designated Event Repurchase Date, as
applicable, other than the right to receive the relevant Purchase Price or Designated Event Repurchase Price, as applicable, upon delivery or transfer of the Notes to be so purchased. 
  
 SECTION 4.12 Notes Purchased in Part. 
  
 Any Note which is to be purchased only in part shall be surrendered at the office of the Paying Agent (with, if the Company or the Trustee so requires,
due endorsement by, or a written 
  

 26 

 instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such
Holder’s attorney duly authorized in writing) and the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Note, without service charge, a new Note or Notes, of any authorized denomination as requested by
such Holder in aggregate principal amount equal to, and in exchange for, the portion of the principal amount of the Notes so surrendered which is not purchased. 
  

SECTION 4.13 Covenant to Comply with Securities Laws upon Purchase of Convertible Senior Notes. 
  
 In connection with any offer to purchase or purchase of Notes under Section 4.08 or 4.09 hereof (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, to the extent
applicable, (i) comply with Rule 13e-4 and Rule 14e-1 under the Exchange Act, (ii) file the related Schedule TO (or any successor schedule, form or report) under the Exchange Act, and (iii) otherwise comply with all federal and state securities laws
so as to permit the rights and obligations under Sections 4.08 and 4.09 to be exercised in the time and in the manner specified in Sections 4.08 and 4.09. 
  
 SECTION 4.14 Repayment to the Company. 
  
 The Trustee and the Paying Agent shall return to the Company any cash that remains unclaimed, together with interest or dividends, if any, thereon
(subject to the provisions of Section 7.01(f)), held by them for the payment of the Purchase Price or Designated Event Repurchase Price, as the case may be; provided, however, that to the extent that the aggregate amount of cash deposited by the
Company pursuant to Section 4.11 exceeds the aggregate Purchase Price or Designated Event Repurchase Price, as the case may be, with respect to the Notes or portions thereof which the Company is obligated to purchase as of the Purchase Date or
Designated Event Repurchase Date, as the case may be, whether as a result of withdrawal or otherwise, then promptly after the business day following the Purchase Date or Designated Event Repurchase Date, as the case may be, the Trustee shall return
any such excess to the Company together with interest or dividends, if any, thereon (subject to the provisions of Section 7.01(f)). 
  
 ARTICLE 5 
  
 SUCCESSORS 
  
 SECTION
5.01 Company May Consolidate, etc., 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: 
  
 (a) either: 
  
 (i) the Company shall be the continuing corporation; or 
  

 27 

 (ii) the person formed by or surviving any such consolidation or share exchange or into
which the Company is merged (if other than the Company) or the person which acquires by sale, assignment, transfer, lease, conveyance or other disposition the properties and assets of the Company as an entirety or substantially as an entirety:

  
 (1) shall be a corporation, partnership or trust organized
under the laws of the United States or any State thereof or the District of Columbia; and 
  
 (2) shall expressly assume, by supplemental indenture in form reasonably satisfactory to the Trustee, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the
principal of and interest and Liquidated Damages, if any, on all of the Notes and the performance or observance of every covenant of the Notes and this Indenture on the part of the Company to be performed or observed, including, without limitation,
modifications to rights of Holders to cause the repurchase of Notes upon a Designated Event in accordance with Section 4.09(h) and conversion rights in accordance with Section 11.06 to the extent required by such Sections; 
  
 (b) in all cases, immediately after giving effect to such transaction no
Default and no Event of Default shall have occurred and be continuing; and 
  
 (c) 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 5.02 Successor Corporation Substituted. 
  
 Upon any consolidation of the Company with, or merger of the Company into,
any other person or any conveyance, transfer or lease of the properties and assets of the Company substantially as an entirety in accordance with this Article 5, the successor person formed by such consolidation or into which the Company is merged
or into which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor person had been named as the
Company herein, and thereafter, except in the case of a lease, the predecessor person shall be relieved of all obligations and covenants under this Indenture and the Notes. 
  
 SECTION 5.03 Repurchase at the Option of Holders upon Designated Event. 
  
 This Article 5 does not affect the obligations of the Company (including
without limitation any successor to the Company) under Section 4.09. 
  

 28 

 ARTICLE 6 
  

DEFAULTS AND REMEDIES 
  
 SECTION 6.01 Events of Default. 
  
 An “Event of Default” with respect to any Notes shall be deemed to have occurred if: 
  
 (a) the Company defaults in the payment of principal of the Notes when due
upon redemption, repurchase or otherwise; or 
  
 (b) the Company
defaults in the payment of any installment of interest or Liquidated Damages on the Notes when due (including any interest payable in connection with a repurchase pursuant to Section 4.08 or Section 4.09 and a redemption pursuant to Section 4.01)
and continuance of such default for 30 days or more; or 
  
 (c)
the Company fails to comply or observe in any material respect (other than a default set forth in clauses (a) and (b) above and clause (d) below) any other covenant or agreement of the Company in respect of the Notes set forth in this Indenture or
the Notes, and fails to remedy such default or breach within a period of 60 days after the receipt of written notice to the Company from the Trustee or to the Company and the Trustee from the Holders of at least 25% in aggregate principal amount of
the Notes then outstanding; or 
  
 (d) the Company defaults in the
payment of the Designated Event Repurchase Price in respect of the Notes when the same becomes due and payable; or 
  
 (e) a default under any credit agreement, mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced
any Indebtedness for money borrowed by the Company or any Restricted Subsidiary, other than any such Indebtedness which is non-recourse to the Company or any Restricted Subsidiary, whether such Indebtedness exists on the date of this Indenture or
shall hereafter be created, which default (i) is caused by a failure to pay when due any principal on such Indebtedness at the final stated maturity date of such Indebtedness (which failure continues beyond any applicable grace period) (a
“Payment Default”) or (ii) results in the acceleration of such Indebtedness prior to its express maturity (without such acceleration being rescinded or annulled) and, in each case, the principal amount of such Indebtedness, together with
the principal amount of any other such Indebtedness under which there is a Payment Default or the maturity of which has been so accelerated, aggregates to $75,000,000 or more and such Payment Default is not cured or such acceleration is not annulled
within 30 days after receipt of written notice to the Company from the Trustee or to the Company and the Trustee from Holders of at least 25% in aggregate principal amount of the Notes then outstanding; or 
  
 (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 Bankruptcy Law, or (ii) a decree or order adjudging the Company 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, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of

  

 29 

 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 Bankruptcy Law or any other case or proceeding to be adjudicated bankrupt
or insolvent, or the consent by it to the entry of a decree or order for relief in respect of the Company in an involuntary case or proceeding under any Bankruptcy Law or to the commencement of any bankruptcy or insolvency case or proceeding against
it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any Bankruptcy Law, or the consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver,
liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to
pay its debts generally as they become due. 
  
 The term
“Bankruptcy Law” means Title 11, U.S. Code or any similar Federal or state law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

  
 SECTION 6.02 Acceleration. 

 
 (a) If an Event of Default (other than an Event of Default specified in
clauses (f) and (g) of Section 6.01) occurs and is continuing, then and in every such case the Trustee, by written notice to the Company, or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding, by written notice
to the Company and the Trustee, may declare the unpaid principal of and accrued and unpaid interest and Liquidated Damages, if any, on all the Notes then outstanding to be due and payable. Upon such declaration such principal amount and accrued and
unpaid interest and Liquidated Damages, if any, shall become immediately due and payable, notwithstanding anything contained in this Indenture or the Notes to the contrary. If any Event of Default specified in clauses (f) or (g) of Section 6.01
occurs, all unpaid principal of and accrued and unpaid interest and Liquidated Damages, if any, on the Notes then outstanding shall become automatically due and payable, without any declaration or other act on the part of the Trustee or any Holder.

  
 (b) The Holders of a majority in aggregate principal amount of
the Notes then outstanding by written notice to the Trustee may rescind any acceleration of the Notes and its consequences if all existing Events of Default (other than nonpayment of principal of and interest and Liquidated Damages, if any, on the
Notes which has become due solely by virtue of such acceleration) have been cured or waived and if the rescission would not conflict with any judgment or decree of any court of competent jurisdiction. No such rescission shall affect any subsequent
Default or Event of Default or impair any right consequent thereto. 
  
 SECTION 6.03 Other Remedies. 
  
 If an Event of Default 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 or Liquidated Damages, if any, on the Notes or to enforce the
performance of any provision of the 
  

 30 

 Notes or this Indenture. The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not
produce any of them in the proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy occurring upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event
of Default. All remedies are cumulative to the extent permitted by law. 
  
 SECTION 6.04 Waiver of Past Defaults. 
  
 The Holders of a majority in aggregate principal amount of the Notes then outstanding may, on behalf of the Holders of all the Notes then outstanding, waive any past Default or Event of Default and its consequences,
except a Default or Event of Default in the payment of the principal or interest or Liquidated Damages, if applicable, on the Notes (other than the non-payment of principal, interest or Liquidated Damages, if any, on the Notes which has become due
solely by virtue of an acceleration which has been duly rescinded as provided above), or in respect of a covenant or provision of this Indenture which cannot be modified or amended without the consent of all Holders. When a Default or Event of
Default is waived, it is cured and stops continuing. No waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. 
  
 SECTION 6.05 Control by Majority. 
  
 The Holders of a majority in aggregate principal amount of the Notes then outstanding may direct the time, method and place
of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture that the Trustee
determines may be unduly prejudicial to the rights of other Holders or that may involve the Trustee in personal liability; provided that the Trustee shall have no duty or obligation (subject to Section 7.01) to ascertain whether or not such actions
of forebearances are unduly prejudicial to such Holders; provided, further, that the Trustee may take any other action the Trustee deems proper that is not inconsistent with such directions. 
  
 SECTION 6.06 Limitation on Suits. 
  
 A Holder may not pursue any remedy with respect to this Indenture or the
Notes unless: 
  
 (a) the Holder gives to the Trustee written
notice of a continuing Event of Default on the Notes; 
  
 (b) the
Holders of at least 25% in principal amount of the Notes then outstanding make a written request to the Trustee to pursue the remedy; 
  
 (c) such Holders offer and, if requested, provide to the Trustee indemnity reasonably satisfactory to the Trustee against any cost, expense or liability;

  
 (d) the Trustee does not act on the request on or prior to the
60th day after receipt of the request and the offer and, if requested, the provision of indemnity; and 

 

 31 

 (e) during such 60-day period the Holders of a majority in principal amount of the Notes then outstanding
do not give the Trustee a direction inconsistent with the request. 
  
 A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder. This Section 6.06 does not affect the right of the Holders to bring an action for enforcement of the
payment of the principal of or interest or Liquidated Damages, if any, the Redemption Price, Purchase Price or Designated Event Repurchase Price, as applicable, on such Holders’ Notes on or after the respective due dates expressed in the Notes
or such Holders’ right to convert its Notes in accordance with the terms of this Indenture. 
  
 SECTION 6.07 Rights of Holders to Receive Payment. 
  
 Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal and interest
and Liquidated Damages, if any, the Redemption Price, Purchase Price or Designated Event Repurchase Price, as applicable, on the Notes, on or after the respective due dates expressed in the Notes, or to bring suit for the enforcement of any such
payment on or after such respective dates, or to bring suit for the enforcement of the right to convert the Notes shall not be impaired or affected without the consent of the Holder. 
  
 SECTION 6.08 Collection Suit by Trustee. 
  
 If an Event of Default specified in Section 6.01(a), (b) or (d) occurs and
is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company for the whole amount of principal, and interest and Liquidated Damages, if any, and Redemption Price, Purchase Price and
Designated Event Repurchase Price, if applicable, remaining unpaid on the Notes and interest on overdue principal, interest and Liquidated Damages, if any, and Redemption Price, Purchase Price and Designated Event Repurchase Price, if applicable,
and such further amount as shall be sufficient to cover the costs and, to the extent lawful, expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
  
 SECTION 6.09 Trustee May File Proofs of Claim.

  
 The Trustee may file such proofs of claim and other papers or
documents as may be necessary or advisable in order to have the claims of the Trustee and the Holders allowed in any judicial proceedings relative to the Company, its creditors or its property. Nothing contained herein shall be deemed to authorize
the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in
respect of the claim of any Holder in any such proceeding. 
  
 SECTION 6.10 Priorities. 
  
 If the Trustee collects any money pursuant to this Article, it shall pay out the money in the following order: 
  

 32 

 First: to the Trustee for amounts due under Section 7.07, including payment of all compensation, expenses
and liabilities incurred, and all advances made, by the Trustee, and the costs and expenses of collection; 
  
 Second: to Holders for amounts due and unpaid on the Notes for principal, interest and Liquidated Damages, if any, and the Redemption Price, Purchase
Price and Designated Event Repurchase Price, if applicable, ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for principal, interest and Liquidated Damages, if any, and the Redemption Price,
Purchase Price and Designated Event Repurchase Price, if applicable, respectively; and 
  
 Third: to the Company. 
  
 Except
as otherwise provided in Section 2.12, the Trustee may fix a record date and payment date for any payment to Holders. 
  
 SECTION 6.11 Undertaking for Costs. 
  
 In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as a
Trustee, a court in its discretion may require the filing by any party litigant in the suit, other than the Trustee, of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable
attorneys fees, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section
6.07 or a suit by Holders of more than 10% in principal amount of the Notes then outstanding. 
  
 ARTICLE 7 
  
 THE TRUSTEE

  
 The Trustee hereby accepts the trust imposed upon it by
this Indenture and covenants and agrees to perform the same, as herein expressed. 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 Article 7. 
  
 SECTION 7.01 Duties of the Trustee. 
  
 (a) If an Event of Default known to a Trust Officer of the Trustee has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture and use the same degree of
care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 
  
 (b) Except during the continuance of an Event of Default known to the Trustee: 
  
 (i) The duties of the Trustee shall be determined solely by the express provisions of this Indenture, and
the Trustee need perform only those duties that are 
  

 33 

 specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be
read into this Indenture against the Trustee; and 
  
 (ii) 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 any statements, certificates or opinions furnished to the Trustee
and conforming to the requirements of this Indenture. However, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the form required by this Indenture. 
  
 (c) The Trustee may not be relieved from liability for its own negligent
action, its own negligent failure to act or its own willful misconduct, except that: 
  
 (i) This paragraph does not limit the effect of paragraph (b) of this Section; 
  
 (ii) The Trustee shall not be liable for any error of
judgment made in good faith by a Trust Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 
  
 (iii) The Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction
received by it pursuant to Section 6.06. 
  
 (d) Whether or not
therein expressly so provided, every provision of this Indenture that is in any way related to the Trustee is subject to paragraphs (a), (b) and (c) of this Section 7.01. 
  
 (e) No provision of this Indenture shall require the Trustee to expend or risk its own funds or incur any financial
liability in the performance of any of its duties or the exercise of any of its rights and powers hereunder, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk of liability is not
reasonably assured to it. 
  
 (f) The Trustee shall not be liable
for interest on any money received by it except as the Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
  
 SECTION 7.02 Rights of the Trustee. 
  
 (a) The Trustee may conclusively rely on and shall be protected in acting or
refraining from acting upon any resolution, Officers’ Certificate, or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, security or other document believed in good faith 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 contained therein. 
  
 (b) Any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by an Officers’ Certificate (unless other
evidence in respect thereof is herein specifically prescribed). In addition, before the Trustee acts or refrains from acting, it may require an Officers’ Certificate, an Opinion of Counsel or both. The Trustee shall not be 
  

 34 

 liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion
of Counsel. The Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in
good faith and in reliance thereon. 
  
 (c) The Trustee may
execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through its attorneys and agents and other persons not regularly in its employ and shall not be responsible for the misconduct or negligence of
any attorney or agent appointed with due care. 
  
 (d) The Trustee
shall not be liable for any action it takes or omits to take in good faith without negligence or willful misconduct which it believes to be authorized or within its discretion, rights or powers. 
  
 (e) Unless otherwise specifically provided in this Indenture, any demand,
request, direction or notice from the Company shall be sufficient if signed by Officers of the Company. 
  
 (f) The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder. 
  
 (g) The Trustee shall be under no obligation to exercise any of the rights or
powers vested in it by this Indenture at the request, order or discretion of any of the Holders pursuant to the provisions of this Indenture, unless such Holders have offered to the Trustee security or indemnity satisfactory to it against the costs,
expenses and liabilities which might be incurred therein or thereby. 
  
 (h) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, security or other document unless
requested in writing to do so by the Holders of not less than a majority in aggregate principal amount of the Notes then outstanding, provided that if the Trustee determines in its discretion to make any such investigation, then it shall be
entitled, upon reasonable prior notice and during normal business hours, to examine the books and records and the premises of the Company, personally or by agent or attorney, and the reasonable expenses of every such examination shall be paid by the
Company or, if paid by the Trustee or any predecessor Trustee, shall be reimbursed by the Company upon demand. 
  
 (i) The permissive rights of the Trustee to do things enumerated in this Indenture shall not be construed as a duty, and the Trustee shall not be
answerable for other than its negligence or willful misconduct. 
  
 (j) The Trustee shall not be responsible for the computation of any adjustment to the Conversion Price or for any determination as to whether an adjustment is required and shall not be deemed to have knowledge of any adjustment unless and
until it shall have received the notice from the Company contemplated by Section 11.05(k). 
  
 (k) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be 
  

 35 

 enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to
act hereunder. 
  
 (l) The Trustee may request that the Company
deliver an Officers’ Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any person
authorized to sign an Officers’ Certificate, including any person specified as so authorized in any such certificate previously delivered and not superseded. 
  
 SECTION 7.03 Individual Rights of the Trustee. 
  
 Subject to Sections 7.10 and 7.11, the Trustee in its individual or any
other capacity may become the owner or pledgee of Notes with the same rights it would have if it were not the Trustee and may otherwise deal with the Company or an Affiliate of the Company and receive, collect, hold and retain collections from the
Company with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. 
  
 SECTION 7.04 Trustee’s Disclaimer. 
  

The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Notes. It shall not be
accountable for the Company’s use of the proceeds from the Notes or any money paid to the Company or upon the Company’s direction under any provision of this Indenture. It shall not be responsible for the use or application of any money
received by any Paying Agent other than the Trustee, and it shall not be responsible for any statement or recital herein or any statement in the Notes or any other document in connection with the sale of the Notes or pursuant to this Indenture other
than its certificate of authentication. 
  
 SECTION 7.05 Notice of Defaults. 
  
 If a Default
or Event of Default occurs and is continuing and if it is known to a Trust Officer of the Trustee, the Trustee shall mail to each Holder a notice of the Default or Event of Default within 90 days after the occurrence of such Default or Event of
Default. A Default or an Event of Default shall not be considered known to a Trust Officer of the Trustee unless it is a Default or Event of Default in the payment of principal, interest or Liquidated Damages, if any, when due under Section 6.01(a),
(b) or (d) (including any principal or interest payable in connection with a repurchase pursuant to Section 4.08 or Section 4.09 and a redemption pursuant to Section 4.01), or a Trust Officer of the Trustee shall have received notice thereof, in
accordance with this Indenture, from the Company or from the Holders of a majority in principal amount of the outstanding Notes. Except in the case of a Default or Event of Default in payment of principal of, or interest or Liquidated Damages, if
any, or payment of any Redemption Price, Purchase Price or Designated Event Repurchase Price, if applicable, on any Note, the Trustee may withhold the notice if and so long as a committee of its Trust Officers in good faith determines that
withholding the notice is in the interest of the Holders. 
  
 SECTION 7.06 Reports by the Trustee to Holders. 
  
 (a) Within 60 days after the reporting date stated in Section 10.10, the Trustee shall mail to Holders a brief report dated as of such reporting date that complies with TIA § 313(a) (but if 
  

 36 

 no event described in TIA § 313(a) has occurred within twelve months preceding the reporting date, no report need be
transmitted). The Trustee also shall comply with TIA § 313(b)(2). The Trustee shall also transmit by mail all reports as required by TIA § 313(c). 
  
 (b) A copy of each report at the time of its mailing to Holders shall be filed, at the expense of the Company, by the Trustee with the Commission and each
stock exchange or securities market, if any, on which the Notes are listed or quoted. The Company shall timely notify the Trustee when the Notes are listed or quoted on any stock exchange or securities market. 
  
 SECTION 7.07 Compensation and Indemnity. 

 
 (a) The Company shall pay to the Trustee from time to time, and the
Trustee shall be entitled to such compensation for its acceptance of this Indenture and its services hereunder as the Company and the Trustee shall from time to time agree in writing. The Trustee’s compensation shall not be limited by any law
on compensation of a trustee of an express trust. The Company shall reimburse the Trustee promptly upon request for all reasonable disbursements, advances and expenses incurred or made by or on behalf of it in addition to the compensation for its
services. Such expenses may include the reasonable compensation, disbursements and expenses of the Trustee’s agents, counsel and other persons not regularly in its employ. 
  
 (b) The Company shall indemnify the Trustee against, and defend and hold the Trustee harmless from, any loss, liability or
expense incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture and the trusts hereunder, including the costs and expenses of defending itself against or investigating any claim of
liability in the premises, except as set forth in the next paragraph. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of its
obligations hereunder. The Company shall defend the claim with counsel designated by the Company, who may be outside counsel to the Company but shall in all events be reasonably satisfactory to the Trustee, and the Trustee shall cooperate in the
defense. In addition, the Trustee may retain one separate counsel and, if deemed advisable by such counsel, local counsel, and the Company shall pay the reasonable fees and expenses of such separate counsel and local counsel. The indemnification
herein extends to any settlement, provided that the Company will not be liable for any settlement made without its consent, provided, further, that such consent will not be unreasonably withheld. 
  
 (c) The Company need not reimburse any expense or indemnify against any loss
or liability incurred by the Trustee through its own negligence or willful misconduct. 
  
 (d) The Trustee shall have a lien prior to the Notes on all money or property held or collected by the Trustee to secure the Company’s payment obligations in this Section 7.07, except that held in trust to pay
principal, interest and Liquidated Damages, if any, on the Notes. Such liens and the Company’s obligations under this Section 7.07 shall survive the satisfaction and discharge of this Indenture. 
  

 37 

 (e) When the Trustee incurs expenses or renders services after an Event of Default specified in Section
6.01(f) or (g) occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any Bankruptcy Law. 
  
 SECTION 7.08 Replacement of the Trustee. 

 
 (a) A resignation or removal of the Trustee and appointment of a
successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.08. 
  
 (b) The Trustee may resign at any time and be discharged from the trust hereby created by so notifying the Company. The Holders of a majority in principal
amount of the Notes then outstanding may remove the Trustee by so notifying the Trustee and the Company in writing and may appoint a successor Trustee. The Company may remove the Trustee if: 
  
 (i) the Trustee fails to comply with Section 7.10;

  
 (ii) 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; 
  
 (iii) a Custodian or public officer takes charge of the Trustee or its property; or 
  
 (iv) the Trustee becomes incapable of acting. 
  
 (c) If the Trustee resigns or is removed or if a vacancy exists in the office
of Trustee for any reason, the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Notes then outstanding may appoint a successor Trustee
to replace the successor Trustee appointed by the Company. 
  
 (d)
If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, at the Company’s expense, the Company or the Holders of at least 10% in principal amount of the Notes then
outstanding may petition any court of competent jurisdiction for the appointment of a successor Trustee. 
  
 (e) If the Trustee after written request by any Holder who has been a Holder for at least six months fails to comply with Section 7.10, such Holder may
petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
  
 (f) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon, the resignation or
removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring
Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided that all sums owing to the retiring Trustee hereunder have been paid and subject to the lien provided for in Section 7.07. Notwithstanding the
replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under 
  

 38 

 Section 7.07 shall continue for the benefit of the retiring Trustee with respect to expenses and liabilities incurred by
it prior to such replacement. 
  
 (g) Upon request of any such
successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in the preceding paragraph. 
  
 SECTION 7.09 Successor Trustee by Merger, etc.

  
 If the Trustee consolidates with, merges or converts into, or
transfers all or substantially all of its corporate trust business (including the trust created by this Indenture) to, another corporation or national banking association, the resulting, surviving or transferee corporation or national banking
association without any further act shall be the successor Trustee with the same effect as if the successor Trustee had been named as the Trustee herein. 
  
 SECTION 7.10 Eligibility, Disqualification. 
  
 This Indenture shall always have a Trustee who satisfies the requirements of TIA § 310(a)(1). The Trustee shall always
have a combined capital and surplus as stated in Section 10.11. The Trustee is subject to TIA § 310(b) regarding the disqualification of a trustee upon acquiring a conflicting interest. 
  
 SECTION 7.11 Preferential Collection of Claims Against
Company. 
  
 The Trustee shall comply with TIA § 311(a),
excluding any creditor relationship set forth in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein. 
  
 ARTICLE 8 
  
 SATISFACTION AND DISCHARGE OF INDENTURE 
  
 SECTION 8.01 Discharge of Indenture. 
  
 When: 
  
 (a) the Company delivers to the Trustee for cancellation all Notes theretofore authenticated pursuant to this Indenture (other than any other Notes which
have been destroyed, lost or stolen and in lieu of or in substitution for which other Notes have been authenticated and delivered) and not theretofore cancelled; or 
  
 (b) (i) all the Notes not theretofore cancelled or delivered to the Trustee for cancellation have become due and payable,
and (ii) the Company deposits with the Trustee, the Paying Agent or the Conversion Agent, as applicable, in trust, amounts in cash or shares of Common Stock (as applicable in accordance with the terms hereof) sufficient to pay, whether at stated
maturity, or any Redemption Date, or any Purchase Date, or any Designated Event Repurchase Date, or upon conversion or otherwise, all of the Notes (other than any Notes which have been mutilated, destroyed, lost or stolen and in lieu of 

 

 39 

 or in substitution for which other Notes have been authenticated and delivered) not theretofore cancelled
or delivered to the Trustee for cancellation, including principal, interest and Liquidated Damages, if any, due and (iii) the Company also pays, or causes to be paid, all other sums payable hereunder by the Company, including the Redemption Price,
Purchase Price and Designated Event Repurchase Price, if applicable, 
  
 then this
Indenture shall cease to be of further effect, except, in the case of paragraph (b) above, as to: 
  
 (A) rights of registration of transfer, substitution, replacement and exchange and conversion of Notes; 
  
 (B) rights hereunder of Holders to receive payments of principal of and
interest and Liquidated Damages, if any, and the Redemption Price, Purchase Price and Designated Event Repurchase Price, if applicable, on, the Notes; 
  
 (C) the obligations under Sections 2.03 and 8.05 hereof; and 
  
 (D) the rights, obligations and immunities of the Trustee hereunder, 
  
 and the Trustee, on written demand of the Company accompanied by an Officers’ Certificate and an Opinion of Counsel as required by
Section 10.04, and at the Company’s cost and expense, shall execute proper instruments acknowledging satisfaction and discharging of this Indenture. The Company, however, hereby agrees to reimburse the Trustee for any costs or expenses
thereafter reasonably and properly incurred by the Trustee and to compensate the Trustee for any services thereafter reasonably and properly rendered by the Trustee in connection with this Indenture or the Notes. 
  
 SECTION 8.02 Deposited Monies to Be Held in Trust by
Trustee. 
  
 Subject to Section 8.04, all monies deposited
with the Trustee pursuant to Section 8.01 shall be held in trust and applied by it to the payment either directly or through the Paying Agent, to the Holders of the particular Notes for the payment of which such monies have been deposited with the
Trustee, of all sums due and to become due thereon for principal, interest, and Liquidated Damages, if any, and the Redemption Price, Purchase Price and Designated Event Repurchase Price, if applicable. 
  
 SECTION 8.03 Paying Agent to Repay Monies Held.

  
 Upon the satisfaction and discharge of this Indenture, all
monies then held by any Paying Agent (other than the Trustee and not pursuant to Section 8.01) shall, upon the Company’s demand, be repaid to it or paid to the Trustee, and thereupon such Paying Agent shall be released from all further
liability with respect to such monies. 
  
 SECTION 8.04 Return of Unclaimed Monies. 
  
 Subject to the requirements of applicable law, any monies deposited with or paid to the Trustee for payment of the principal of or interest or Liquidated Damages, if any, and the 
  

 40 

 Redemption Price, Purchase Price and Designated Event Repurchase Price, if applicable, on the Notes and not applied but
remaining unclaimed by the Holders thereof for two years after the date upon which the principal of or interest or Liquidated Damages, if any, and the Redemption Price, Purchase Price and Designated Event Repurchase Price, if applicable, on such
Notes, as the case may be, have become due and payable, shall be repaid to the Company by the Trustee on written demand; provided, however, that the Company, or the Trustee at the written request and expense of the Company, shall have first caused
notice of such payment to the Company to be mailed to each Holder entitled thereto no less than 30 days prior to such payment and all liability of the Trustee shall thereupon cease with respect to such monies; and the Holder shall thereafter look
only to the Company for any payment which such Holder may be entitled to collect unless an applicable abandoned property law designates another person. 
  
 SECTION 8.05 Reinstatement. 
  
 If the Trustee or the Paying Agent is unable to apply any money in accordance with Section 8.02 by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.01
until such time as the Trustee or the Paying Agent is permitted to apply all such money in accordance with Section 8.02; provided, however, that if the Company makes any payment of principal of, or interest or Liquidated Damages, if any, on, and the
Redemption Price, Purchase Price and Designated Event Repurchase Price, if applicable, on any Note following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders thereof to receive such payment from the
money held by the Trustee or Paying Agent. 
  
 ARTICLE 9

  
 AMENDMENTS 
  
 SECTION 9.01 Without the Consent of Holders.

  
 The Company and the Trustee may amend or supplement this
Indenture or the Notes without notice to or the consent of any Holder for the purposes of: 
  
 (a) curing any ambiguity, defect or inconsistency or making any other changes in the provisions of this Indenture which the Company and the Trustee may deem necessary or desirable, provided that such amendment does
not materially and adversely affect the rights of the Holders under this Indenture; 
  
 (b) providing for the assumption of the covenants and obligations of the Company hereunder and in the Notes in the circumstances required by Section 5.01; 
  
 (c) providing for conversion rights of Holders in the event of consolidation, merger, or sale of all or substantially all of
the assets of the Company as required to comply with Sections 5.01 and/or 11.06; 
  
 (d) reducing the Conversion Price; 
  

 41 

 (e) evidencing and providing for the acceptance of appointment under this Indenture of a successor
Trustee; 
  
 (f) making any change that would provide any
additional rights or benefits to the Holders or that does not adversely affect the legal rights under this Indenture of any such Holder; 
  
 (g) complying with the requirements of the Commission in order to effect or maintain the qualification of the Indenture under the TIA; or 
  
 (h) modifying the restrictions on, and procedures for, resale and other
transfers of the shares of Common Stock pursuant to law, regulation or practice relating to the resale or transfer of restricted securities generally. 
  
 SECTION 9.02 With the Consent of Holders. 
  
 Subject to Section 6.07, the Company and the Trustee may amend or supplement this Indenture or the Notes with the consent of
the Holders of at least a majority in aggregate principal amount of the Notes then outstanding (including consents obtained in connection with a tender offer or exchange offer for the Notes). 
  
 Subject to Sections 6.04 and 6.07, the Company and the Trustee may waive any
existing Default or compliance in any particular instance by the Company with any provision of this Indenture or the Notes with the consent of the Holders of at least a majority in principal amount of the Notes then outstanding (including consents
obtained in connection with a tender offer or exchange offer for the Notes). 
  
 However, without the consent of each Holder affected, an amendment or waiver under this Section may not (with respect to any Notes held by a non-consenting Holder): 
  
 (a) reduce the principal amount of Notes whose Holders must consent to an
amendment, supplement or waiver; 
  
 (b) reduce the principal of
or change the fixed maturity of any Note or, except as permitted pursuant to Section 9.01, alter the redemption or repurchase provisions with respect thereto; 
  

(c) reduce the rate of or amount of, or change the time for payment of, interest, including defaulted interest and Liquidated Damages, if any, and any
Redemption Price, Purchase Price or Designated Event Repurchase Price, if applicable, on any Note; 
  
 (d) waive a Default or Event of Default in the payment of principal of or interest or Liquidated Damages, if any, on the Notes (except a rescission of
acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of the Notes then outstanding and a waiver of the payment default that resulted from such acceleration); 
  
 (e) make any Note payable in money other than as provided for herein and in
the Notes; 
  

 42 

 (f) make any change in the provisions of this Indenture relating to waivers of past Defaults or the
rights of Holders to receive payments of principal of or interest or Liquidated Damages, if any, and any Redemption Price, Purchase Price or Designated Event Repurchase Price, if applicable, on the Notes; 
  
 (g) waive the payment of any Designated Event Repurchase Price with respect
to any Note; 
  
 (h) increase the Conversion Price or, except as
permitted herein (including Section 9.01), modify the provisions contained herein relating to conversion of the Notes in a manner adverse to the Holders thereof; or 
  
 (i) make any change to the abilities of Holders to enforce their rights hereunder or the provisions of clauses (a) through
(i) of this Section 9.02. 
  
 To secure a consent of the Holders
under this Section, it shall not be necessary for such Holders to approve the particular form of any proposed amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. 
  
 After an amendment or waiver under this Section becomes effective, the
Company shall mail to Holders a notice briefly describing the amendment or waiver. 
  
 SECTION 9.03 Compliance with the Trust Indenture Act. 
  
 Every amendment to this Indenture or the Notes shall be set forth in a supplemental indenture that complies with the TIA as
then in effect. 
  
 SECTION 9.04 Revocation
and Effect of Consents. 
  
 Until an amendment or waiver
becomes effective, a consent to it by a Holder is a continuing consent by the Holder and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not
made on any Note. However, any such Holder or subsequent Holder may revoke the consent as to his or her Note or portion of a Note if the Trustee receives the notice of revocation before the date on which the Trustee receives an Officers’
Certificate certifying that the Holders of the requisite principal amount of Notes have consented to the amendment or waiver. 
  
 The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to consent to any amendment or
waiver. If a record date is fixed, then notwithstanding the provisions of the immediately preceding paragraph, those persons who were Holders at such record date (or their duly designated proxies), and only those persons, shall be entitled to
consent to such amendment or waiver or to revoke any consent previously given, whether or not such persons continue to be Holders after such record date. No consent shall be valid or effective for more than 90 days after such record date unless
consents from Holders of the principal amount of Notes required hereunder for such amendment or waiver to be effective shall have also been given and not revoked within such 90-day period. 
  

 43 

 After an amendment or waiver becomes effective it shall bind every Holder, unless it is of the type
described in clauses (a) - (i) of Section 9.02. In such case, the amendment or waiver shall only bind each Holder who has consented to it and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting
Holder’s Note. 
  
 SECTION 9.05 Notation
on or Exchange of Convertible Senior Notes. 
  
 Notes
authenticated and delivered after the execution of any supplemental indenture pursuant to this Article 9 may, and shall if required by the Trustee, bear a notation in the form approved by the Trustee as to any matter provided for in such
supplemental indenture. If the Company shall so determine, new Notes so modified as to conform, in the opinion of the Company and the Trustee, to any such supplemental indenture may be prepared and executed by the Company and authenticated and
delivered by the Trustee in exchange for outstanding Notes without charge to the Holders, except as specified in Section 2.07. 
  
 SECTION 9.06 Trustee Protected. 
  
 The Trustee shall sign any amendment or supplemental indenture authorized pursuant to this Article 9 if such amendment or supplemental indenture does not
adversely affect the rights, duties, liabilities or immunities of the Trustee. If such amendment or supplemental indenture does adversely affect the rights, duties, liabilities or immunities of the Trustee, the Trustee may, but need not, sign it. In
signing such amendment or supplemental indenture, 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 or
supplemental indenture is authorized or permitted by this Indenture, that it is not inconsistent herewith, and that it will be valid and binding upon the Company in accordance with its terms. 
  
 ARTICLE 10 
  
 GENERAL PROVISIONS 
  
 SECTION 10.01 Trust Indenture Act Controls.

  
 If any provision of this Indenture limits, qualifies or
conflicts with the duties imposed by TIA § 318(c), such duties imposed by such section of the TIA shall control. If any provision of this Indenture expressly modifies or excludes any provision of the TIA that may be so modified or excluded, the
Indenture provision so modifying or excluding such provision of the TIA shall be deemed to apply. 
  
 SECTION 10.02 Notices. 
  
 Any notice or communication by the Company or the Trustee to the other is duly given if in writing and delivered in person or mailed by first-class mail,
with postage prepaid (registered or certified, return receipt requested), or sent by facsimile or overnight air couriers guaranteeing next day delivery, to the other’s address as stated in Section 10.10. The Company or the Trustee by notice to
the other may designate additional or different addresses for subsequent notices or communications. 
  

 44 

 All notices and communications (other than those sent to Holders) shall be deemed to have been duly given
at the time delivered by hand, if personally delivered; five business days after being deposited in the mail, postage prepaid, if mailed; when transmission is confirmed, if transmitted by facsimile; and the next business day after timely delivery to
the courier, if sent by overnight air courier guaranteeing next day delivery. Notwithstanding the foregoing, all notices to the Trustee shall be effective only upon receipt by a Trust Officer. 
  
 Any notice or communication to a Holder shall be mailed by first-class mail,
with postage prepaid, to his or her address shown on the Register kept by the Registrar. Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. 
  
 If a notice or communication to a Holder is sent in the manner provided above
within the time prescribed, it is duly given, whether or not the addressee receives it. 
  
 If the Company sends a notice or communication to Holders, it shall send a copy to the Trustee and each Agent at the same time. 
  

All notices or communications shall be in writing. 
  
 SECTION 10.03 Communication by Holders with Other Holders. 
  
 Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their rights under this Indenture
or the Notes. The Company, the Trustee, the Registrar and the paying agent shall have the protection of TIA § 312(c). 
  
 SECTION 10.04 Certificate and Opinion as to Conditions Precedent. 
  
 Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall
furnish to the Trustee: 
  
 (a) an Officers’ Certificate in
form and substance reasonably satisfactory to the Trustee (which shall include the statements set forth in Section 10.05) stating that, in the opinion of such person, all conditions precedent and covenants, if any, provided for in this Indenture
relating to the proposed action have been complied with; and 
  
 (b) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which shall include the statements set forth in Section 10.05) stating that, in the opinion of such counsel, all such conditions precedent and covenants
have been complied with. 
  
 SECTION 10.05
Statements Required in Certificate or Opinion. 
  
 Each
certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) shall include: 
  
 (a) a statement that the person making such certificate or opinion has read
such covenant or condition; 
  

 45 

 (b) 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; 
  
 (c) a statement that, in the opinion of such person, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or
condition has been complied with; and 
  
 (d) a statement as to
whether or not, in the opinion of such person, such condition or covenant has been complied with. 
  
 Any Officers’ Certificate may be based, insofar as it relates to legal matters, upon an Opinion of Counsel, unless such Officer knows that the
opinion with respect to the matters upon which his or her certificate may be based as aforesaid is erroneous. Any Opinion of Counsel may be based, insofar as it relates to factual matters, upon certificates, statements or opinions of, or
representations by an officer or officers of the Company, or other persons or firms deemed appropriate by such counsel, unless such counsel knows that the certificates, statements or opinions or representations with respect to the matters upon which
his or her opinion may be based as aforesaid are erroneous. 
  
 Any Officers’ Certificate, statement or Opinion of Counsel may be based, insofar as it relates to accounting matters, upon a certificate or opinion of or representation by an accountant (who may be an employee of the Company), or firm
of accountants, unless such Officer or counsel, as the case may be, knows that the certificate or opinion or representation with respect to the accounting matters upon which his or her certificate, statement or opinion may be based as aforesaid is
erroneous. 
  
 SECTION 10.06 Rules by Trustee
and Agents. 
  
 The Trustee may make reasonable rules for
action by, or a meeting of, Holders. The Registrar or Paying Agent may make reasonable rules and set reasonable requirements for its functions. 
  
 SECTION 10.07 Legal Holidays. 
  
 The term “business day” means any day other than a Saturday, a Sunday or a day on which banking institutions in The City of New York are
authorized or required by law, regulation or executive order to close. If any Interest Payment Date, the Maturity Date, Purchase Date or Designated Event Repurchase Date falls on a day that is not a business day, the required payment of principal
of, interest and Liquidated Damages, if any, on and the Purchase Price and Designated Event Repurchase Price with respect to any Note will be made on the next succeeding business day as if made on the date that such payment was due and no interest
will accrue on that payment for the period from and after the Interest Payment Date, the Maturity Date, the relevant Purchase Date or the Designated Event Repurchase Date, as applicable, to the date of payment on the next succeeding business day.

  

 46 

 SECTION 10.08 No Recourse Against Others. 
  
 No director, officer, employee, stockholder or Affiliate of the Company
shall have any liability or any obligations under the Notes or this Indenture or for any claim based on, in respect of, or by reason of such obligations or the creation of such obligations. Each Holder by accepting a Note waives and releases all
such liability with respect to each director, officer, employee, stockholder and Affiliate of the Company. This waiver and release are part of the consideration for the Notes. Each of such directors, officers, employees, stockholders and Affiliates
of the Company is a third party beneficiary of this Section 10.08. 
  
 SECTION 10.09 Counterparts. 
  
 This Indenture may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the
same agreement. 
  
 SECTION 10.10 Other
Provisions. 
  
 The Company initially appoints the Trustee as
Paying Agent, Registrar, Conversion Agent and authenticating agent. The reporting date for Section 7.06 is May 15 of each year. The first reporting date is the May 15 following the issuance of the Notes hereunder. 
  
 The Trustee shall always have, or shall be a subsidiary of a bank or bank
holding company that has, a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition. 
  
 The Company’s address is: 
  
 Delta Air Lines, Inc. 
 1030 Delta Boulevard 
 Department 981 
 Atlanta, GA 30320-6001 
 Facsimile No.: (404) 715-2233 
 Attention: Dean C. Arvidson 
  
 The Trustee’s address is: 
  
 The Bank of New York Trust Company of Florida, N.A.

 10161 Centurion Parkway 
 Jacksonville, FL 32256, 
 Attention: Corporate Trust Department 
 Facsimile: (904) 645-1921 
  
 SECTION 10.11 Governing Law. 
  
 The laws of the State of New York shall govern this Indenture and the Notes. 
  

 47 

 SECTION 10.12 No Adverse Interpretation of Other Agreements. 
  
 This Indenture may not be used to interpret another indenture, loan or debt
agreement of the Company or a subsidiary. Any such other indenture, loan or debt agreement may not be used to interpret this Indenture. 
  
 SECTION 10.13 Successors. 
  
 All agreements of the Company in this Indenture and the Notes shall bind its successor. All agreements of the Trustee in this Indenture shall bind its
successor. 
  
 SECTION 10.14 Severability.

  
 In case any provision in this Indenture or in the Notes shall
be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
  
 SECTION 10.15 Table of Contents, Headings, etc. 
  
 The Table of Contents, Cross-Reference Table and headings of the Articles
and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof and shall in no way modify or restrict any of the terms or provisions hereof. 
  
 ARTICLE 11 
  
 CONVERSION OF CONVERTIBLE SENIOR NOTES 
  
 SECTION 11.01 Right to Convert. 
  
 Each Holder shall have the right to convert its Notes into shares of Common
Stock at any time during the period stated in Article 12 hereof and paragraph 9 of the Note, the form of which is attached hereto as Exhibit A. The principal amount of any Note held by such holder, or any portion of such principal amount which is
$1,000 or an integral multiple thereof, may be converted into that number of fully paid and non-assessable shares of Common Stock obtained by dividing the principal amount of the Note or portion thereof to be converted by the Conversion Price in
effect at such time, as set forth in paragraph 9 of the Note, subject to adjustment as herein set forth. A Holder is not entitled to any rights of a holder of Common Stock until such Holder has converted his or her Notes into Common Stock, and only
to the extent such Notes are deemed to have been converted to Common Stock pursuant to this Article 11 and Article 12 hereof. 
  
 SECTION 11.02 Exercise of Conversion Privilege; Issuance of Common Stock on Conversion; No Adjustment for Interest or Dividends. 
  
 (a) To exercise, in whole or in part, the conversion privilege with respect
to any Note, the Holder shall surrender such Note, duly endorsed, at an office or agency maintained by the Company pursuant to Section 2.03, accompanied by funds, if any, required by Section 11.02(e) hereof, and shall give written notice of
conversion in the form provided on the Notes (or such 
  

 48 

 other notice which is acceptable to the Company), duly signed and completed, to the office or agency stating that the
Holder elects to convert such Note or such portion thereof specified in said notice. Such notice shall also state the name or names (with address or addresses) in which the certificate or certificates for shares of Common Stock which are issuable on
such conversion shall be issued, and shall be accompanied by transfer taxes, if required pursuant to Section 11.07. 
  
 (b) Each Note surrendered for conversion shall, unless the shares issuable on conversion are to be issued in the same name as the registration of such
Note, be duly endorsed by, or be accompanied by instruments of transfer in form satisfactory to the Company duly executed by, the Holder or his or her duly authorized attorney. The Holder will not be required to pay any tax or duty which may be
payable in respect of the issue or delivery of Common Stock on conversion, but will be required to pay any tax or duty which may be payable in respect of any transfer involved in the issue or delivery of Common Stock in a name other than the same
name as the registration of such Note. 
  
 (c) As promptly as
practicable after satisfaction of the requirements for conversion set forth above, the Company shall issue and shall deliver to such Holder at the office or agency maintained by the Company for such purpose pursuant to Section 2.03, a certificate or
certificates for the number of full shares of Common Stock issuable upon the conversion of such Note or portion thereof in accordance with the provisions of this Article 11 and a check or cash in respect of any fractional interest in respect of a
share of Common Stock arising upon such conversion, as provided in Section 11.03 (which payment, if any, shall be paid no later than five business days after satisfaction of the requirements for conversion set forth above). Certificates representing
shares of Common Stock will not be issued or delivered unless all taxes and duties, if any, payable by the Holder have been paid. In case any Note of a denomination of an integral multiple greater than $1,000 is surrendered for partial conversion,
and subject to Section 2.02, the Company shall execute, and the Trustee shall authenticate and deliver to the Holder so surrendered, without charge to him or her, a new Note or Notes in authorized denominations in an aggregate principal amount equal
to the unconverted portion of the surrendered Note. 
  
 (d) Each
conversion shall be deemed to have been effected as to any such Note (or portion thereof) on the date on which the requirements set forth above in this Section 11.02 have been satisfied as to such Note (or portion thereof) (the “Conversion
Date”), and the person in whose name any certificate or certificates for shares of Common Stock are issuable upon such conversion shall be deemed to have become on said date the holder of record of the shares represented thereby; provided,
however, that any such surrender on any date when the Company’s stock transfer books are closed shall result in the person in whose name the certificates are to be issued becoming the record holder thereof for all purposes on the next
succeeding day on which such stock transfer books are open, but such conversion shall be at the Conversion Price in effect on the date upon which such Note is surrendered. 
  
 (e) Any Note or portion thereof surrendered for conversion during the period from the close of business on any Regular
Record Date immediately preceding any Interest Payment Date to the opening of business on such Interest Payment Date shall be accompanied by payment, in funds acceptable to the Company, of an amount equal to the interest and Liquidated Damages, if
any, otherwise payable on such Interest Payment Date on the principal amount being converted; provided, however, that no such payment need be made if: 
  

 49 

 (i) there exists at the time of conversion a default in the payment of principal of or
interest or Liquidated Damages, if applicable, on the Notes (including any principal of or interest payable in connection with a repurchase pursuant to Section 4.08 or Section 4.09 and a redemption pursuant to Section 4.01); or 
  
 (ii) the Company shall have specified a Redemption Date that
is after the Regular Record Date and prior to such Interest Payment Date. 
  
 An amount equal to such payment shall be paid by the Company on such Interest Payment Date to the Holder at the close of business on the Regular Record Date; provided, however, that if the Company defaults in the
payment of interest or Liquidated Damages, if applicable, on such Interest Payment Date, such amount shall be paid to the person who made such required payment. 
  

(f) Except as provided above in this Section 11.02, no adjustment shall be made for interest and Liquidated Damages, if any, accrued on any Note
converted or for dividends on any shares issued upon the conversion of such Note as provided in this Article 11. Delivery by the Company to the Holder of the Note converted of the number of shares of Common Stock into which the Note is convertible,
at the Conversion Price in effect at such time, shall satisfy the obligations of the Company to pay the principal amount of such Note being converted and the accrued but unpaid interest on such converted Note through the Conversion Date. 

 
 SECTION 11.03 Cash Payments in Lieu of Fractional
Shares. 
  
 No fractional shares of Common Stock or scrip
representing fractional shares shall be issued upon conversion of the Notes. If more than one Note shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion shall be
computed on the basis of the aggregate principal amount of the Notes (or specified portions thereof to the extent permitted hereby) so surrendered for conversion. If any fractional share of stock otherwise would be issuable upon the conversion of
any Note or Notes, the Company shall make an adjustment therefor in cash based upon the Current Market Price (as defined in Section 11.05(g)) of the Common Stock for the 5 consecutive trading days immediately preceding the Conversion Date.

  
 SECTION 11.04 Conversion Price.

  
 The Conversion Price shall be as specified in paragraph 9 of
the Note, the form of which is attached as Exhibit A hereto, subject to adjustment as provided in this Article 11. 
  
 SECTION 11.05 Adjustment of Conversion Price. 
  
 The Conversion Price shall be adjusted from time to time by the Company as follows: 
  
 (a) If 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 of which: 
  

 50 

 (i) the numerator shall be the number of shares of Common Stock outstanding at the close
of business on the Record Date (as defined in Section 11.05(g)) fixed for such determination; and 
  
 (ii) the denominator shall be the sum of (1) the number of shares of Common Stock outstanding at the close of business on the Record Date
(as defined in Section 11.05(g)) fixed for such determination and (2) the total number of shares of Common Stock constituting such dividend or other distribution, 
  
 such reduction to become effective immediately after the opening of business on the day following the Record Date. If the dividend or
distribution of the type described in this Section 11.05(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) If 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, if
the 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) If the Company shall issue rights or warrants to all holders of its
outstanding shares of Common Stock entitling them to subscribe for or purchase, for a period expiring within 45 days after the date of issuance, shares of Common Stock at a price per share less than the Current Market Price (as defined in Section
11.05(g)) on the Record Date fixed for the determination of stockholders entitled to receive such rights or warrants, 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 of which: 
  
 (i) the numerator 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 would purchase at such Current Market Price; and 
  
 (ii) the denominator 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. 
  
 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 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 be the Conversion Price which would then be in effect had the adjustments

  

 51 

 made upon the issuance of such rights or warrants been made on the basis of delivery of only the number of shares of
Common Stock actually delivered. If such rights or warrants are not so issued, the Conversion Price shall again be adjusted to be the Conversion Price which would then be in effect if such date fixed for the determination of 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 by the Company for such rights or warrants, and any amount payable upon exercise thereof, with the value of such consideration, if other than
cash, to be determined by the Board of Directors (whose determination shall be conclusive and described in a resolution of the Board of Directors). 
  
 (d) If 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 11.05(a) applies) or evidences of its indebtedness or other assets (including securities, but excluding (i) any rights or warrants of a type referred to in Section 11.05(c) and (ii)
dividends and distributions paid exclusively in cash referred to in Section 11.05(e)) (the foregoing hereinafter in this Section 11.05(d) called the “Securities”), then, in each such case, the Conversion Price shall be reduced so that the
same shall be equal to the price determined by multiplying the Conversion Price in effect immediately prior to the close of business on such Record Date (as defined in Section 11.05(g)) with respect to such distribution by a fraction of which:

  
 (i) the numerator shall be the Current Market
Price (determined as provided in Section 11.05(g)) on such Record Date less the fair market value (as determined by the Board of Directors, whose determination shall be conclusive and described in a resolution of the Board of Directors), on such
Record Date of the portion of the Securities so distributed applicable to one share of Common Stock; and 
  
 (ii) the denominator shall be such Current Market Price on such Record Date, 
  
 such reduction to become effective immediately after the opening of business on the day following the Record Date; provided, however, that
in the event the then fair market value (as so determined) of the portion of the Securities so distributed applicable to one share of Common Stock is equal to or greater than the Current Market Price on the Record Date, in lieu of the foregoing
adjustment, adequate provision shall be made so that each Holder shall have the right to receive upon conversion of a Note (or any portion thereof) the amount of Securities such Holder would have received had such Holder converted such Note (or
portion thereof) immediately prior to such Record Date. If such dividend or distribution is not so paid or made, the Conversion Price shall again be adjusted to be the Conversion Price that 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 11.05(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 used in computing the Current Market Price pursuant to Section 11.05(g) to the extent possible. 
  

 52 

 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, shall be deemed not to have been distributed for purposes of this Section 11.05(d) (and no
adjustment to the Conversion Price under this Section 11.05(d) shall be required) until the occurrence of the earliest Trigger Event, whereupon such rights and warrants shall be deemed to have been distributed and an appropriate adjustment to the
Conversion Price under this Section 11.05(d) shall be made. If any such rights or warrants, including any such existing rights or warrants distributed prior to the date of this Indenture, are subject to Trigger Events, then the occurrence of each
such event shall be deemed to be such date of issuance and Record Date with respect to new rights or warrants (and a termination or expiration of the existing rights or warrants 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 with respect thereto, that was counted for purposes of calculating a distribution amount for which an adjustment to the Conversion Price under this Section
11.05(d) was made, (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 or holders 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 which shall have expired or been terminated without
exercise by any holders thereof, the Conversion Price shall be readjusted as if such rights and warrants had not been issued. 
  
 Notwithstanding any other provision of this Section 11.05(d) to the contrary, rights, warrants, evidences of indebtedness, other securities, cash or other
assets (including, without limitation, any rights distributed pursuant to any stockholders rights plan, and any rights or warrants distributed or deemed to be distributed upon the occurrence of a Trigger Event) shall be deemed not to have been
distributed for purposes of this Section 11.05(d) if the Company elects to reserve such rights, warrants, evidences of indebtedness, other securities, cash or other assets (including, without limitation, any rights distributed pursuant to any
stockholders rights plan, and any rights or warrants distributed or deemed to be distributed upon the occurrence of a Trigger Event) for distribution to each Holder who converts a Note (or any portion thereof) so that such Holder shall be entitled
to receive upon such conversion, in addition to the shares of Common Stock issuable upon such conversion, the amount and kind of such distributions that such Holder would have been entitled to receive if such Holder had, immediately prior to the
applicable Record Date, converted such Note into Common Stock. 
  
 For purposes of this Section 11.05(d) and Sections 11.05(a) and (c), any dividend or distribution to which this Section 11.05(d) is applicable that also includes shares of Common Stock, or rights or warrants to subscribe for or purchase
shares of Common Stock to which Section 11.05(a) or Section 11.05(c) applies, or both, 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 or rights or warrants to which Section 
  

 53 

 11.05(a) or Section 11.05(c) applies (and any Conversion Price reduction required by this Section 11.05(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 or such rights or warrants to which Section 11.05(a) or Section 11.05(c) applies (and any further Conversion
Price reduction required by Sections 11.05(a) and (c) with respect to such dividend or distribution shall then be made, except that (A) the Record Date of such dividend or distribution shall be substituted for “the date fixed for the
determination of stockholders entitled to receive such dividend or other distribution,” “Record Date fixed for such determination” and “Record Date” within the meaning of Section 11.05(a) and for “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 11.05(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
11.05(a)). 
  
 (e) If the Company shall, by dividend or otherwise,
distribute cash to all holders of its Common Stock (excluding any cash that is distributed as part of a distribution referred to in Section 11.05(d) and excluding the Company’s regular quarterly cash dividends) in an aggregate amount that,
combined together with (1) the aggregate amount of any other such all-cash distributions to all holders of its Common Stock within the 12 months preceding the date of payment of such distribution, and in respect of which no adjustment pursuant to
this Section 11.05(e) has been made, and (2) the aggregate of any cash plus the fair market value (as determined by the Board of Directors, whose determination shall be conclusive and described in a resolution of the Board of Directors) of
consideration payable in respect of any tender offer by the Company or any of its subsidiaries for all or any portion of the Common Stock concluded within the 12 months preceding the date of payment of such distribution, and in respect of which no
adjustment pursuant to Section 11.05(f) has been made, exceeds 15% of the product of the Current Market Price (determined as provided in Section 11.05(g)) on the Record Date with respect to such distribution times the number of shares of Common
Stock outstanding on such Record Date, then, and in each such case, 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 obtained by dividing (x) the excess of such combined amount over 15% of the product of the Current Market Price (determined as
provided in Section 11.05(g)) on the Record Date with respect to such distribution times the number of shares of Common Stock outstanding on such Record Date, by (y) the product of the Current Market Price (determined as provided in Section
11.05(g)) on the Record Date with respect to such distribution times 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 Record Date, 
  
 such adjustment to be effective immediately after the opening of business on the day
following the Record Date. If such dividend or distribution is not so paid or made, the Conversion Price 
  

 54 

 shall again be adjusted to be the Conversion Price that would then be in effect if such dividend or distribution had not
been declared. 
  
 (f) If a tender offer (other than the purchase
of Notes on any Purchase Date or as part of a Designated Event) made by the Company or any of its subsidiaries for all or any portion of the Common Stock expires and such tender offer (as amended upon the expiration thereof) requires 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 described in a resolution of the Board of Directors) 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 described in a resolution of the Board of Directors), 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 11.05(f) has been made and (2) the aggregate amount of any all-cash distributions to all holders
of the Common Stock within 12 months preceding the expiration of such tender offer and in respect of which no adjustment pursuant to Section 11.05(e) has been made, exceeds 15% of the product of the Current Market Price (determined as provided in
Section 11.05(g)) 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, 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 of which: 
  
 (i) the
numerator shall be the number of shares of Common Stock outstanding (including any Purchased Shares) on the Expiration Time multiplied by the Current Market Price of the Common Stock as of 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) as of the Expiration Time and the
Current Market Price of the Common Stock as of the Expiration Time, 
  
 such
adjustment to be effective immediately after the opening of business on the day following the date of the Expiration Time. If 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 11.05(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 11.05(f). 
  

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 (g) For purposes of this Section 11.05, the following terms shall have the meaning indicated: 

 
 (1) “Current Market Price” means the average of the daily
closing prices per share of Common Stock for, unless otherwise specified herein, the 10 consecutive trading days immediately prior to the date in question; provided, however, that (1) if 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 Sections 11.05(a), (b), (c), (d), (e) or (f) occurs during such 10 consecutive trading days, the closing price for
each trading day prior to the “ex” date for such other event shall be adjusted by multiplying such closing price by the same fraction by which the Conversion Price is so required to be adjusted as a result of such other event, (2) if the
“ex” date for any event (other than the issuance or distribution requiring such computation) that requires an adjustment to the Conversion Price pursuant to Section 11.05(a), (b), (c), (d), (e) or (f) occurs on or after the “ex”
date for the issuance or distribution requiring such computation and prior to the day in question, the closing price for each trading day on and after the “ex” date for such other event shall be adjusted by multiplying such closing price
by the reciprocal of the fraction by which the Conversion Price is so required to be adjusted as a result of such other event, and (3) if 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 (1) or (2) of this proviso, the closing price for each trading day on or after such “ex” date shall be adjusted by adding thereto the amount of any cash and the
fair market value (as determined by the Board of Directors in a manner consistent with any determination of such value for purposes of Section 11.05(d) or (f), whose determination shall be conclusive and described in a resolution of the Board of
Directors) 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 11.05(f), the Current Market Price on any date shall be deemed to be the average of the daily closing prices per share of Common Stock for such day and the next two succeeding trading days; provided, however, that if the “ex” date
for any event (other than the tender offer or exchange offer requiring such computation) that requires an adjustment to the Conversion Price pursuant to Section 11.05(a), (b), (c), (d), (e) or (f) occurs on or after the Expiration Time for the
tender or exchange offer requiring such computation and prior to the day in question, the closing price for each trading day on and after the “ex” date for such other event shall be adjusted by multiplying such closing price by the
reciprocal of the fraction by which the Conversion Price is so required to be adjusted as a result of such other event. For purposes of this paragraph, the term “ex” date, (1) when used 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 closing price was obtained without the right to receive such issuance or distribution, (2) when used 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 (3) when used
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 11.05, such adjustments shall be made to the Current Market Price as may be 
  

 56 

 necessary or appropriate to effectuate the intent of this Section 11.05 and to avoid unjust or inequitable results as
determined in good faith by the Board of Directors. 
  
 (2)
“closing price” with respect to any securities on any day means the closing sale price per share (or, if no closing sale price is reported, the average of the bid and asked prices or, if more than one in either case, the average of the
average bid and the average asked prices) on such day as reported in composite transactions for the principal U.S. securities exchange on which such security is traded or, if such security is not listed on a U.S. national or regional securities
exchange, as reported by the Nasdaq National Market. If such security is not listed for trading on a U.S. national or regional securities exchange and not reported by the Nasdaq National Market on the relevant date, the “closing price”
shall be the last quoted bid price for such security in the over-the-counter market on the relevant date as reported by the National Quotation Bureau or similar organization. If such security is not so quoted, the “closing price” shall be
the average of the mid-point of the last bid and asked prices for such security on the relevant date from each of at least three nationally recognized independent investment banking firms selected by the Company for such purpose. 
  
 (3) “fair market value” shall mean the amount which a willing buyer
would pay a willing seller in an arm’s length transaction. 
  
 (4) “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). 
  
 (5) “trading day” shall mean (x) if the applicable security is listed or admitted for trading on the New York Stock Exchange or another U.S. national or regional securities exchange, a day on which the New
York Stock Exchange or such other U.S. national or regional securities exchange is open for business or (y) if the applicable security is quoted on the Nasdaq National Market, a day on which trades may be made thereon, or (z) if the applicable
security is not so listed, admitted for trading or quoted, any business day (as defined herein). 
  
 (h) The Company may make such reductions in the Conversion Price, in addition to those required by Sections 11.05(a), (b), (c), (d), (e) or (f), as the
Board of Directors considers to be advisable to avoid or diminish any potential income tax liability to holders of Common Stock or rights to purchase Common Stock which may result from any dividend or distribution of stock (or rights to acquire
stock) or from any event treated as such for income tax purposes. 
  
 The Company from time to time may, to the extent permitted by law, reduce the Conversion Price by any amount for any period of at least 20 days, if the Board of Directors has made a determination that such reduction would be in the
Company’s best interests, which determination shall be conclusive and described in a resolution of the Board of Directors. The reduction in Conversion Price shall be irrevocable during this period. Whenever the Conversion Price is reduced
pursuant to the preceding sentence, the Company shall mail to the Holders at his or her last address appearing on the Register maintained for that purpose a notice of the reduction 
  

 57 

 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 the Conversion Price then in effect; provided, however, that any adjustments which by reason of this
Section 11.05(j) are not required to be made shall be carried forward and taken into account in any subsequent adjustment. All calculations under this Article 11 shall be made by the Company and shall be made to the nearest cent or to the nearest
one hundredth 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) Whenever the Conversion Price is adjusted as herein provided, the Company shall promptly file with the Trustee and any Conversion Agent other than the Trustee an Officers’ Certificate setting forth the
Conversion Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment. Promptly after delivery of such certificate, the Company shall prepare a notice of such adjustment of the Conversion Price setting
forth the adjusted Conversion Price and the date on which each adjustment becomes effective and shall mail such notice of such adjustment of the Conversion Price to each Holder at his or her last address appearing on the Register maintained for that
purpose 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. 
  
 (k) In any case in which this Section 11.05 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 issuing to the Holder of any Note 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. 
  
 (l) For purposes of this Section 11.05, 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 shall not pay any dividend or make any distribution on shares of Common
Stock held in the treasury of the Company. 
  
 SECTION 11.06 Effect of Reclassification, Consolidation, Merger or Sale. 
  
 If any of the following events occur:(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 consolidation, merger, 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, other than a consolidation, merger, share exchange or combination in which the Company is the continuing corporation and which does not result in
reclassification (other than a change in 
  

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 name, or 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), conversion, exchange or cancellation of the Common Stock, or (iii) any sale or conveyance or other disposition of the properties and assets of the Company as an entirety 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, then 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 the Notes shall be convertible into the kind and amount of shares of stock and other securities or property or assets (including cash) receivable upon such reclassification, change, consolidation, merger, share exchange, combination, sale,
conveyance or other disposition by a holder of a number of shares of Common Stock issuable upon conversion of the Notes (assuming, for such purposes, a sufficient number of authorized shares of Common Stock available to convert all such Notes)
immediately prior to such reclassification, change, consolidation, merger, share exchange, combination, sale, conveyance or other disposition assuming such holder of Common Stock did not exercise his or her rights of election, if any, as to the kind
or amount of securities, cash or other property receivable upon such reclassification, change, consolidation, merger, share exchange, sale, conveyance or other disposition (provided that, if the kind or amount of securities, cash or other property
receivable upon such reclassification, change, consolidation, merger, share exchange, sale, conveyance or other disposition is not the same for each share of Common Stock in respect of which such rights of election have not been exercised
(“non-electing share”), then, for the purposes of this Section 11.06, the kind and amount of securities, cash or other property receivable upon such reclassification, change, consolidation, merger, share exchange, sale, conveyance or other
disposition 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 that shall be as nearly equivalent as may
be practicable to the adjustments provided for in this Article 11. If, in the case of any such reclassification, change, consolidation, merger, share exchange, combination, sale, conveyance or other disposition, 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,
consolidation, merger, share exchange, combination, sale, conveyance or other disposition, then such supplemental indenture shall also be executed by such other corporation and shall contain such additional provisions to protect the interests of the
Holders as the Board of Directors shall reasonably consider necessary by reason of the foregoing. 
  
 The Company shall cause notice of the execution of such supplemental indenture to be mailed to each Holder at his or her address appearing on the Register
for that purpose 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 11.06 shall similarly apply to successive reclassifications, changes, consolidations,
mergers, share exchanges, combinations, sales, conveyances and other dispositions. 
  

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 If this Section 11.06 applies to any event or occurrence, Section 11.05 shall not apply. 
  
 SECTION 11.07 Taxes on Shares Issued. 
  
 The issue of stock certificates on conversions of the Notes shall be made
without charge to the converting Holder for any tax in respect of the issue thereof. The Company shall not, however, be required to pay any tax which may be payable in respect of any transfer involved in the issue and delivery of stock in any name
other than that of the Holder of any Note converted, and the Company shall not be required to issue or deliver any such stock certificate unless and until the person or persons requesting the issue thereof shall have paid to the Company the amount
of such tax or shall have established to the satisfaction of the Company that such tax has been paid. 
  
 SECTION 11.08 Reservation of Shares; Shares to Be Fully Paid; Listing of Common Stock. 
  
 (a) The Company shall provide, free from preemptive rights, out of its
authorized but unissued shares or shares held in treasury, sufficient shares to provide for the conversion of the Notes from time to time as such Notes are presented for conversion. 
  
 (b) Before taking any action which would cause an adjustment reducing the Conversion Price below the then par value, if any,
of the shares of Common Stock issuable upon conversion of the Notes, the Company shall take all corporate action which may, in the opinion of its counsel, be necessary in order that the Company may validly and legally issue shares of such Common
Stock at such adjusted Conversion Price. 
  
 (c) The Company
covenants that all shares of Common Stock issued upon conversion of the Notes will be duly authorized and validly issued and fully paid and non-assessable by the Company and free from all taxes, liens and charges with respect to the issue thereof.

  
 (d) The Company further covenants that as long as the Common
Stock is listed on the New York Stock Exchange, the Company shall cause all Common Stock issuable upon conversion of the Notes to be eligible for such listing in accordance with, and at the times required under, the requirements of the New York
Stock Exchange, and if at any time the Common Stock becomes listed on any other U.S. national securities exchange, or quoted on the Nasdaq National Market System or any other automated quotation system, the Company shall cause all Common Stock
issuable upon conversion of the Notes to be so listed or quoted and kept so listed or quoted. 
  
 SECTION 11.09 Responsibility of Trustee. 
  

The Trustee shall not at any time be under any duty or responsibility to any Holders to determine whether any facts exist which may require any
adjustment of the Conversion Price, or with respect to the nature or extent or calculation of any such adjustment when made, or with respect to the method employed, or herein or in any supplemental indenture provided to be employed, in making the
same. The Trustee shall not be accountable with respect to the validity or value (or the kind or amount) of any shares of Common Stock, or of any securities or property, which may at any time be issued or delivered upon the conversion of any Note;
and the Trustee makes no representations with respect thereto. Subject to the provisions of Section 7.01, 
  

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 the Trustee shall not be responsible for any failure of the Company to issue, transfer or deliver any shares of Common
Stock or stock certificates or other securities or property or cash upon the surrender of any Note for the purpose of conversion or to comply with any of the duties, responsibilities or covenants of the Company contained in this Article 11. Without
limiting the generality of the foregoing, the Trustee shall not have any responsibility to determine the correctness of any provisions contained in any supplemental indenture entered into pursuant to Section 11.06 relating either to the kind or
amount of shares of stock or securities or property (including cash) receivable by Holders upon the conversion of their Notes after any event referred to in such Section 11.06 or to any adjustment to be made with respect thereto, but, subject to the
provisions of Section 7.01, may accept as conclusive evidence of the correctness of any such provisions, and shall fully be protected in relying upon, the Officers’ Certificate and Opinion of Counsel (which the Company shall be obligated to
file with the Trustee prior to the execution of any such supplemental indenture) with respect thereto. 
  
 SECTION 11.10 Notice to Holders Prior to Certain Actions. 
  
 If (a) the Company declares a dividend (or any other distribution) on its Common Stock (other than in cash out of retained
earnings); or 
  
 (b) the Company authorizes the granting to the
holders of its Common Stock of rights or warrants to subscribe for or purchase any share of any class of Common Stock or any other rights or warrants (other than rights or warrants referred to in the second paragraph of Section 11.05(d)); or

  
 (c) there is any reclassification of the Common Stock (other
than a subdivision or combination of outstanding Common Stock, or a change in par value, or from par value to no par value, or from no par value to par value), or of any consolidation, merger or share exchange to which the Company is a party and for
which approval of any stockholders of the Company is required, or of the sale or transfer or other disposition of all or substantially all of the assets of the Company; or 
  
 (d) there is any voluntary or involuntary dissolution, liquidation or winding-up of the Company; 
  
 then the Company shall cause to be filed with the Trustee and to be mailed to each Holder at
his or her address appearing on the Register maintained for that purpose as promptly as possible but in any event at least 15 days prior to the applicable date hereinafter specified, a notice stating (x) the date on which a record is to be taken for
the purpose of such dividend, distribution or 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 or rights or warrants are to be
determined, or (y) the date on which such reclassification, consolidation, merger, share exchange, sale, transfer, dissolution, liquidation or winding-up is expected to become effective or occur, and the date as of which it is expected that holders
of Common Stock of record shall be entitled to exchange their Common Stock for securities or other property deliverable upon such reclassification, consolidation, merger, share exchange, sale, transfer, dissolution, liquidation or winding-up.
Failure to give such notice, or any defect therein, shall not affect the legality or 
  

 61 

 validity of such dividend, distribution, reclassification, consolidation, merger, share exchange, sale, transfer,
dissolution, liquidation or winding-up. 
  
 SECTION 11.11 Restriction on Common Stock Issuable Upon Conversion. 
  
 (a) Shares of Common Stock to be issued upon conversion of Notes prior to the effectiveness of a Shelf Registration Statement shall be physically delivered in certificated form to the Holders converting such Notes,
and the certificate representing such shares of Common Stock shall bear the Restricted Common Stock Legend unless removed in accordance with Section 11.11(c). 
  

(b) If (i) shares of Common Stock to be issued upon conversion of a Note prior to the effectiveness of a Shelf Registration Statement are to be
registered in a name other than that of the Holder of such Note or (ii) shares of Common Stock represented by a certificate bearing the Restricted Common Stock Legend are transferred subsequently by such Holder, then, unless the Shelf Registration
Statement has become effective and such shares are being transferred pursuant to the Shelf Registration Statement, the Holder must deliver to the transfer agent for the Common Stock a certificate in substantially the form of Exhibit C as to
compliance with the restrictions on transfer applicable to such shares of Common Stock, and neither the transfer agent nor the registrar for the Common Stock shall be required to register any transfer of such Common Stock not so accompanied by a
properly completed certificate. 
  
 (c) Except in connection with
a Shelf Registration Statement, if certificates representing shares of Common Stock are issued upon the registration of transfer, exchange or replacement of any other certificate representing shares of Common Stock bearing the Restricted Common
Stock Legend, or if a request is made to remove such Restricted Common Stock Legend from certificates representing shares of Common Stock, the certificates so issued shall bear the Restricted Common Stock Legend, or the Restricted Common Stock
Legend shall not be removed, as the case may be, unless there is delivered to the Company such satisfactory evidence, which, in the case of a transfer made pursuant to Rule 144 under the Securities Act, may include an opinion of counsel as may be
reasonably required by the Company, that neither the legend nor the restrictions on transfer set forth therein are required to ensure that transfers thereof comply with the provisions of Rule 144A, Rule 144 or Regulation S under the Securities Act
or that such shares of Common Stock are securities that are not “restricted” within the meaning of Rule 144 under the Securities Act. Upon provision to the Company of such reasonably satisfactory evidence, the Company shall cause the
transfer agent for the Common Stock to countersign and deliver certificates representing shares of Common Stock that do not bear the legend. 
  
 ARTICLE 12 
  
 CONVERSION EVENTS 
  
 SECTION 12.01 Conversion Upon Satisfaction of Sale Price Condition. 
  
 (a) Subject to the provisions of this Article 12 and paragraph 9 of the Note, and subject to and upon compliance with the provisions of this Indenture,
and notwithstanding the fact that any other condition to conversion has not been satisfied, the Holder of this Note has the 
  

 62 

 right to convert this Note into shares of Common Stock in any calendar quarter after the quarter ending June 30, 2003 if
the last reported sale price of the Common Stock for at least 20 trading days during the period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the
Conversion Price on such last trading day. 
  
 (b) The “last
reported sale price” of the Common Stock on any date means the closing price for such Common Stock, as set forth in Section 11.05 above. The Company shall notify the Holders upon determination that Holders are or will be entitled to convert
their Notes, or any portion of such principal amount which is $1,000 or an integral multiple thereof, into fully paid and non-assessable shares of Common Stock in accordance with this Article 12 and paragraph 9 of the Note, by issuing a press
release and publishing such determination on the Company’s web site. 
  
 SECTION 12.02 Conversion Based on Trading Price of the Notes. 
  
 (a) Subject to the provisions of this Article 12 and paragraph 9 of the Note, and subject to and upon compliance with the provisions of this Indenture,
and notwithstanding the fact that any other condition to conversion has not been satisfied, the Holder of this Note has the right to convert this Note into shares of Common Stock during the five business day period following any 10 consecutive
trading days in which the average of the trading prices for the Notes for that 10 trading days was less than 98% of the average closing price (as defined in Section 11.05(g)) of the Common Stock during such period multiplied by the Conversion Rate.
The “Conversion Rate” shall be equal to the number of shares of Common Stock issuable upon conversion of a Note per $1,000 of principal amount thereof (i.e., $1,000 principal amount of the Note being converted divided by the
applicable Conversion Price). 
  
 (b) The “trading
price” of the Notes on any date of determination means the average of the secondary market bid quotations per Note obtained by the Trustee for $10,000,000 principal amount of the Notes at approximately 3:30 p.m., New York City time, on such
determination date from three independent nationally recognized securities dealers selected by the Company; provided that if at least three such bids cannot be obtained, but two such bids are obtained by the Trustee, then the average of the two bids
shall be used. If the Trustee cannot reasonably obtain at least two bids for $10,000,000 principal amount of the Notes from a nationally recognized securities dealer or, in the reasonable judgment of the Company, the bid quotations are not
indicative of the secondary market value of the Notes, then the trading price of the Notes will be deemed to be equal to 97.9% of (a) the Conversion Rate of the Notes as of the applicable date of determination multiplied by (b) the closing price (as
set forth in Section 11.05) of the Common Stock on such determination date. 
  
 (c) The Trustee will determine the trading price of the Notes during the applicable period at the request of the Company. The Company shall make such request upon receipt of reasonable evidence from the Holder that
the trading price of the Notes may be less than 98% of the average closing price (as set forth in Section 11.05) of the Common Stock multiplied by the Conversion Rate during the applicable period. 
  

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 SECTION 12.03 Conversion Upon Notice of Redemption. 
  
 Subject to the provisions of this Article 12 and paragraph 9 of the Note,
and subject to and upon compliance with the provisions of this Indenture, and notwithstanding the fact that any other condition to conversion has not been satisfied, the Holder of this Note has the right to convert into shares of Common Stock the
Notes or a portion thereof which has been called for redemption pursuant to Article 4 above; provided that such Note or a portion thereof is surrendered for conversion on or prior to the close of business on the Redemption Date in accordance with
the terms of this Indenture. 
  
 SECTION 12.04
Conversion Upon Specified Corporate Transactions. 
  
 (a)
Subject to the provisions of this Article 12 and paragraph 9 of the Note, and subject to and upon compliance with the provisions of this Indenture, and notwithstanding the fact that any other condition to conversion has not been satisfied, the
Holder of this Note has the right to convert this Note into shares of Common Stock in the event that the Company (i) issues rights or warrants to all holders of its outstanding shares of Common Stock entitling them to subscribe for or purchase, for
a period expiring within 45 days after the date of issuance, shares of Common Stock at a price per share less than the last reported sale price (as defined above) per share of Common Stock on the trading day (as defined in Section 11.05(g))
immediately preceding the date of the issuance; or (ii) distributes to all holders of its outstanding shares of Common Stock any assets or debt securities of the Company, or rights to purchase any securities of the Company, which distribution has a
per share value, as determined by the Board of Directors (whose determination shall be conclusive and described in a resolution of the Board of Directors), that exceeds 15% of the last reported sale price (as defined above) per share of Common Stock
on the trading day (as defined in Section 11.05(g)) immediately preceding the date of declaration of such distribution. The Company will be required to give notice to the Holders at least 20 business days prior to the ex-dividend date for such
distribution, and Notes may be surrendered for conversion at any time thereafter until the earlier of the close of business on the business day immediately prior to the ex-dividend date and the announcement by the Company that such distribution will
not take place, even if the Notes are not otherwise convertible at such time. The “ex-dividend date” shall mean the first date upon which the sale of the Common Stock does not automatically transfer the right to receive the relevant
distribution from the seller of the Common Stock to its buyer. 
  
 (b) Subject to the provisions of this Article 12 and paragraph 9 of the Note, and subject to and upon compliance with the provisions of this Indenture, and notwithstanding the fact that any other condition to conversion has not been
satisfied, the Holder of this Note has the right to convert this Note into shares of Common Stock in the event the Company is a party to any consolidation, merger, share exchange or combination pursuant to which the Common Stock would be converted
into cash, securities or other property as set forth in Section 11.06, the Notes may be surrendered for conversion at any time from and after the date which is 15 days prior to the anticipated effective date of the transaction until 15 days after
the actual effective date of such transaction and, at the effective time of such transaction, the right to convert a Note into Common Stock will be deemed to have changed into a right to convert such Note into the kind and amount of cash, securities
or other property of the Company or another person which the 
  

 64 

 Holder would have received if the Holder had converted its Notes immediately prior to the applicable record date for such
transaction. 
  

 65 

 (c) IN WITNESS WHEREOF, the parties have caused this Indenture to be duly executed, all as of the date
first above written, signifying their agreements contained in this Indenture. 
  

	 	 	 DELTA AIR LINES, INC.

				
	 	 	 	 	 By:
	 	 /s/ M. Michele Burns

	 	 	 	 	 	 	 Name:
	 	 M. Michele Burns

	 	 	 	 	 	 	 Title:
	 	 Executive Vice President and
 Chief Financial Officer

			
	 	 	 	 	 THE BANK OF NEW YORK TRUST
 COMPANY OF FLORIDA, N.A.

	 	 	 	 	 not in its individual capacity
 but solely as Trustee

				
	 	 	 	 	 By:
	 	 /s/ Derek Kettel

	 	 	 	 	 	 	 Name:
	 	 Derek Kettel

	 	 	 	 	 	 	 Title:
	 	 Vice President

  

 66 

 EXHIBIT A 
 (Face of Security) 
  
 [Global
Securities Legend] 
  
 [The following legend shall appear on the
face of each Global Security: 
  
 THIS CONVERTIBLE SENIOR NOTE
IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY, WHICH MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND
HOLDER OF THIS CONVERTIBLE SENIOR NOTE FOR ALL PURPOSES.] 
  
 [The following legend shall appear on the face of each Global Security for which The Depository Trust Company is to be the Depositary: 
  
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY THE AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO.,
HAS AN INTEREST HEREIN. 
  
 UNLESS AND UNTIL IT IS
EXCHANGED IN WHOLE OR IN PART FOR REGISTERED CONVERTIBLE SENIOR NOTES IN DEFINITIVE REGISTERED FORM IN THE LIMITED CIRCUMSTANCES REFERRED TO IN THE INDENTURE, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A
NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR NOMINEE.] 
  

 A-1 

 [Restricted Securities Legend] 
  
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
ANY STATE SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING THIS SECURITY, AGREES FOR THE BENEFIT OF DELTA AIR LINES, INC. THAT THIS SECURITY MAY NOT BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED PRIOR TO THE LATER OF (X) THE EXPIRATION OF
THE HOLDING PERIOD APPLICABLE TO THE SALES OF THE SECURITY EVIDENCED HEREBY UNDER RULE 144(k) UNDER THE SECURITIES ACT (OR ANY SUCCESSOR PROVISION) OR (Y) THREE MONTHS AFTER SUCH HOLDER CEASES TO BE AN “AFFILIATE” (WITHIN THE MEANING OF
RULE 144 UNDER THE SECURITIES ACT) OF DELTA AIR LINES, INC., OTHER THAN (1) TO DELTA AIR LINES, INC., (2) SO LONG AS THIS SECURITY IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON WHO THE
SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A, PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (3) IN AN
OFFSHORE TRANSACTION (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT) IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT, (4) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 (IF AVAILABLE) UNDER
THE SECURITIES ACT OR (5) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND OTHER JURISDICTIONS. THE HOLDER HEREOF, BY
PURCHASING THIS SECURITY, REPRESENTS AND AGREES FOR THE BENEFIT OF DELTA AIR LINES, INC. THAT IT IS (1) A QUALIFIED INSTITUTIONAL BUYER OR (2) NOT A U.S. PERSON AND IS OUTSIDE THE UNITED STATES WITHIN THE MEANING OF (OR AN ACCOUNT SATISFYING THE
REQUIREMENTS OF PARAGRAPH (k)(2) OF RULE 902 UNDER) REGULATION S UNDER THE SECURITIES ACT. IN ANY CASE THE HOLDER HEREOF WILL NOT, DIRECTLY OR INDIRECTLY, ENGAGE IN ANY HEDGING TRANSACTION WITH REGARD TO THIS SECURITY OR ANY COMMON STOCK ISSUABLE
UPON CONVERSION OF THIS SECURITY EXCEPT AS PERMITTED BY THE SECURITIES ACT. 
  

 A-2 

	 CUSIP
No.:                                       
           
	 	 	 	 
	 ISIN:                                     
                       
	 	 	 	 
	 Common Code:
                                        
  
	 	 	 	$                            

  
 DELTA AIR LINES,
INC. 
 8.00% CONVERTIBLE SENIOR NOTE DUE 2023 
  
 DELTA AIR LINES, INC. promises to pay to CEDE & CO. or registered assigns, the principal sum of
                                    ($  
                          ) on June 3, 2023, and to pay interest thereon, as provided on the reverse hereof, until
the principal and any unpaid and accrued interest is paid or duly provided for. 
  
 Interest Payment Dates: June 3 and December 3, commencing December 3, 2003 
  
 Regular Record Dates: May 19 and November 19 
  
 The provisions on the back of this certificate are incorporated as if set forth on the face hereof. 
  

 A-3 

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

	DELTA AIR LINES, INC.
		
	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

  
 Certificate of Authentication 
  
 This
is one of the Convertible Senior Notes described in the within-mentioned Indenture. 
  
 THE BANK OF NEW YORK 
 TRUST COMPANY OF FLORIDA, N.A. 
 as Trustee 
  

	 By:
	 	  

	 	 	 Authorized Signatory

		
	 Dated:
	 	  

  

 A-4 

 (Back of Security) 
  
 DELTA AIR LINES, INC.  
 8.00% CONVERTIBLE SENIOR NOTES DUE 2023 
  
 1. INTEREST. Delta Air Lines, Inc., a Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Note at the rate per annum shown above. The Company will pay interest (and Liquidated Damages, if
any) semiannually in arrears on June 3 and December 3 of each year, beginning December 3, 2003. Interest on the Notes will accrue from the most recent Interest Payment Date to which interest has been paid or, if no interest has been paid, from June
2, 2003. Interest (and any Liquidated Damages) will be computed on the basis of a 360-day year composed of twelve 30-day months. 
  
 2. METHOD OF PAYMENT. The Company will pay interest (and Liquidated Damages, if any) on the Notes (except defaulted interest) to the person in whose name each Note is
registered at the close of business on the May 19 or November 19 (each, a “Regular Record Date”) immediately preceding the relevant Interest Payment Date (other than with respect to a Note or portion thereof (i) with respect to which a
notice of redemption shall have been mailed by the Company in accordance with Section 4.03 of the Indenture, which notice of redemption shall specify a Redemption Date that is after the close of business on a Regular Record Date and prior to the
next Interest Payment Date, or (ii) repurchased in connection with a Designated Event on a Designated Event Repurchase Date that is after the close of business on a Regular Record Date and prior to the next Interest Payment Date, in which case
accrued interest (and Liquidated Damages, if any) shall be payable (unless such Note or portion thereof is converted) to the Holder of the Note or portion thereof redeemed or repurchased in accordance with the applicable provisions of the
Indenture). 
  
 The Holder must surrender Notes to a Paying Agent
to collect principal payments. The Company will pay the principal and interest (including Liquidated Damages, if any, and Redemption Price, Purchase Price and Designated Event Repurchase Price, as applicable) on the Notes at the office or agency of
the Company maintained for such purpose, in money of the United States that at the time of payment is legal tender for payment of public and private debts. Until otherwise designated by the Company, the Company’s office or agency maintained for
such purpose will be the principal Corporate Trust Office of the Trustee. If the Notes are held in global form, principal and interest (including Liquidated Damages, if any, Redemption Price, Purchase Price and Designated Event Repurchase Price, as
applicable) on the Notes shall be paid by wire transfer in immediately available funds in accordance with the written wire transfer instruction supplied by such Holder from time to time to the Trustee and Paying Agent (if different from the Trustee)
at least two days prior to the applicable Regular Record Date; provided that any payment to the Depositary or its nominee shall be paid by wire transfer in immediately available funds in accordance with the wire transfer instruction supplied by the
Depositary or its nominee from time to time to the Trustee and Paying Agent (if different from Trustee) at least two days prior to the applicable Regular Record Date. With respect to Notes held other than in global form, the Company will make
payments by wire transfer of immediately available funds to the account specified by the Holders thereof or, if no such account is specified with respect to a Holder, by mailing a check to the Holder’s registered address. 
  

 A-5 

 3. PAYING AGENT, REGISTRAR AND CONVERSION AGENT. The Bank of New York Trust Company of Florida, N.A . (together with any
successor Trustee under the Indenture referred to below, the “Trustee”) will act as Paying Agent, Registrar and Conversion Agent. The Company may change any Paying Agent, Registrar, Conversion Agent or co-registrar without prior notice.
Subject to certain limitations in the Indenture, the Company or any of its subsidiaries may act in any such capacity. 
  
 4. INDENTURE. The Company issued the Notes under an Indenture, dated as of June 2, 2003 (the “Indenture”), between the Company and the Trustee. The terms of the
Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S. Code §§77aaa-77bbbb) (the “TIA”) as in effect on the date of the Indenture. The Notes are
subject to, and qualified by, all such terms, certain of which are summarized hereon, and Holders are referred to the Indenture and the TIA for a statement of such terms. The Notes are senior unsecured obligations of the Company limited as provided
in the Indenture to $300,000,000 in aggregate principal amount, unless an election has been made as set forth in Article 2 of the Indenture to increase such aggregate principal amount to an amount not to exceed $350,000,000. 
  
 Capitalized terms not defined herein have the same meaning as is given to
them in the Indenture. 
  
 5. DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in
registered form without coupons in denominations of $1,000 and integral multiples of $1,000. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. As a condition of transfer, the Registrar and the Trustee
may require a Holder, among other things, to furnish appropriate endorsements and transfer documents, and the Company and the Registrar may require a Holder to pay any taxes and fees permitted by the Indenture. 
  
 6. PERSONS DEEMED OWNERS. The person in whose name the Notes are registered on the
Registrar’s books will be treated as its owner for all purposes. 
  
 7.
AMENDMENTS AND WAIVERS. Subject to certain exceptions, the Indenture and the Notes may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes (including consents
obtained in connection with a tender offer or exchange offer for the Notes), and any existing Default (except a Default or Event of Default in the payment of principal of or interest or Liquidated Damages, if any, on the Notes) may be waived with
the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes (including consents obtained in connection with a tender offer or exchange offer for the Notes). 
  
 Without the consent of any Holder, the Indenture or the Notes may be amended
to: (a) cure any ambiguity, defect or inconsistency or make any other changes in the provisions of the Indenture which the Company and the Trustee may deem necessary or desirable, provided that such amendment does not materially and adversely affect
the rights of the Holders under the Indenture; (b) evidence the succession of another person to the Company and provide for the assumption by such successor of the covenants and obligations of the Company under the Indenture and the Notes; (c)
provide for the conversion rights of Holders in the event of 
  

 A-6 

 
consolidation or merger or sale of all or substantially all of the assets of the Company; (d) reduce the Conversion Price; (e) evidence and provide for the
acceptance of appointment under the Indenture of a successor Trustee; (f) make any changes that would provide the Holders with any additional rights or benefits or that do not adversely affect the legal rights under the Indenture of any Holder; (g)
comply with the requirements of the Commission in order to effect or maintain the qualification of the Indenture under the TIA; or (h) modify the restrictions on, and procedures for, resale and other transfers of the shares of Common Stock pursuant
to law, regulation or practice relating to the resale or transfer of restricted securities generally. 
  
 Without the consent of each Holder affected, an amendment or waiver may not (with respect to any Notes held by a non-consenting Holder): (a) reduce the
principal amount of Notes whose Holders must consent to an amendment, supplement or waiver; (b) reduce the principal of or change the fixed maturity of any Note or, except as permitted pursuant to Section 9.01 of the Indenture, alter the redemption
or repurchase provisions with respect to the Notes; (c) reduce the rate of, or change the time for payment of, interest, including defaulted interest and Liquidated Damages, if any, and any Redemption Price, Purchase Price or Designated Event
Repurchase Price, if applicable, on any Note; (d) waive a Default or Event of Default in the payment of principal or interest or Liquidated Damages, if any, on the Notes (except a rescission of acceleration of the Notes by the Holders of at least a
majority in aggregate principal amount of the Notes then outstanding and a waiver of the payment default that resulted from such acceleration); (e) make the principal or interest or Liquidated Damages, if any, on any Note payable in money other than
as provided for in the Indenture and in the Notes; (f) make any change in the provisions of the Indenture relating to waivers of past Defaults or the rights of Holders to receive payments of principal of or interest or Liquidated Damages, if any,
and any Redemption Price, Purchase Price or Designated Event Repurchase Price, if applicable, on the Notes; (g) waive a Designated Event Repurchase Price with respect to any Note; (h) increase the Conversion Price or, except as permitted by the
Indenture (including Section 9.01), modify the provisions of the Indenture relating to conversion of the Notes in a manner adverse to the Holders thereof; or (i) make any changes to the abilities of Holders to enforce their rights under the
Indenture or the provisions of clauses (a) through (i) of Section 9.02 of the Indenture. 
  
 8. REDEMPTION AND PURCHASE. The Company, at its option, may redeem all or a portion of the Notes on or after June 5, 2008 at a redemption price in cash (“Redemption Price”) equal to 100% of the principal
amount thereof, plus any accrued and unpaid interest to, but excluding, the Redemption Date. At least 30 days but not more than 60 days before a Redemption Date, the Company shall mail a notice of redemption by first-class mail, postage prepaid, to
each Holder of Notes to be redeemed. 
  
 Following a Designated
Event, the Company shall make a Designated Event Offer to repurchase all Notes then outstanding at a Designated Event Repurchase Price equal to 100% of the principal amount of the Notes, plus any accrued and unpaid interest to, but excluding, the
Designated Event Repurchase Date, in accordance with the terms and conditions set forth in the Indenture. To accept the Designated Event Offer, the Holder hereof must comply with the terms thereof, including surrendering this Note with the
“Designated Event Repurchase Notice” portion thereof completed to the Trustee, with a copy to the Paying Agent, at any time on or prior to the Designated Event Offer Termination Date, as provided in the Indenture. 
  

 A-7 

 Subject to the terms and conditions of the Indenture, Notes shall be purchased by the Company at the
option of the Holder thereof, in whole or in part, at a purchase price in cash (the “Purchase Price”) equal to 100% of the principal amount thereof, plus any accrued and unpaid interest to, but excluding, the relevant Purchase Date of June
3, 2008, June 3, 2013 and June 3, 2018, as applicable, upon delivery of a Purchase Notice containing the information set forth in the Indenture, at any time from the opening of business on the date that is at least 20 business days prior to the
relevant Purchase Date until the close of business on the fifth business day prior to such Purchase Date. 
  
 9. CONVERSION. Subject to the provisions of this paragraph 9, and subject to and upon compliance with the provisions of the Indenture, the principal amount of the Note, or any portion of such principal amount which is
$1,000 or an integral multiple thereof, may be converted, subject to the conditions and during the periods described below, into that number of fully paid and non-assessable shares of Common Stock obtained by dividing the principal amount of the
Note or portion thereof to be converted by the conversion price of $28.00 per share, as adjusted from time to time as provided in the Indenture (the “Conversion Price”), upon surrender of the Note to the Company at the office or agency
maintained for such purpose (or at such other offices or agencies designated for such purpose by the Company), accompanied by written notice of conversion duly executed (and if the shares of Common Stock to be issued on conversion are to be issued
in any name other than that of the registered Holder of this Note, by instruments of transfer, in form satisfactory to the Company, duly executed by the registered Holder or its duly authorized attorney). 
  
 In case such surrender shall be made during the period from the close of
business on any Regular Record Date immediately preceding any Interest Payment Date to the opening of business on such Interest Payment Date, the Note also shall be accompanied by payment, in funds acceptable to the Company, of an amount equal to
the accrued and unpaid interest, if any, otherwise payable on such Interest Payment Date on the principal amount of the Note then being converted; provided, however, that no such payment need be made if (i) there exists at the time of conversion a
default in the payment of principal of or interest or Liquidated Damages, if applicable, on the Notes (including any principal of or interest payable in connection with a repurchase pursuant to Section 4.08 or Section 4.09 and a redemption pursuant
to Section 4.01); or (ii) the Company shall have specified a Redemption Date that is after the Regular Record Date and prior to such Interest Payment Date. Subject to the aforesaid requirement for a payment in the event of conversion during the
period from the close of business on any Regular Record Date immediately preceding any Interest Payment Date to the opening of business on such Interest Payment Date, no adjustment shall be made on conversion for interest, if any, accrued and unpaid
hereon or for dividends on Common Stock delivered on conversion. 
  
 The Conversion Price will be adjusted for dividends or distributions on Common Stock payable in Common Stock; subdivisions or combinations of Common Stock; distributions to all holders of Common Stock of certain rights or warrants to
purchase Common Stock, for a period expiring within 45 days after the date of such distribution, at a price less than the Current Market Price; distributions to all holders of Common Stock of shares of Capital Stock (other than Common Stock) or
evidences of the Company’s Indebtedness or assets; certain dividends or other distributions consisting exclusively of cash (other than regular quarterly cash dividends) to holders of Common Stock; and certain purchases of the Common Stock
pursuant to tender offers 
  

 A-8 

 
by the Company or any subsidiary of the Company, in each case, in accordance with the terms and conditions set forth in the Indenture. Additionally, the
Indenture permits the Company to, from time to time, to the extent permitted by law, reduce the Conversion Price by any amount for any period of at least 20 days, if the Board of Directors has made a determination that such reduction would be in the
Company’s best interests, which determination shall be conclusive and described in a resolution of the Board of Directors. 
  
 The Company shall not issue fractional shares or scrips representing fractions of shares of Common Stock upon any such conversion, but shall make an
adjustment therefor in cash based upon the Current Market Price of the Common Stock for the five consecutive trading days immediately preceding the Conversion Date. If more than one Note shall be surrendered for conversion at one time by the same
Holder, the number of full shares which shall be issuable upon conversion shall be computed on the basis of the aggregate principal amount of the Notes (or specified portions thereof to the extent permitted hereby) so surrendered for conversion.

  
 A Note in respect of which a Holder has delivered a Purchase
Notice or Designated Event Repurchase Notice exercising the option of such Holder to require the Company to purchase such Note may be converted only if such notice of exercise is withdrawn in accordance with the terms of the Indenture. 

 
 Conversion Upon Satisfaction of Sale Price Condition. Subject to
the provisions of this paragraph 9, and subject to and upon compliance with the provisions of the Indenture, and notwithstanding the fact that any other condition to conversion has not been satisfied, the Holder of this Note has the right to convert
this Note into shares of Common Stock in any calendar quarter after the quarter ending June 30, 2003 if the last reported sale price of the Common Stock for at least 20 trading days during the period of 30 consecutive trading days ending on the last
trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the Conversion Price on such last trading day. 
  
 The “last reported sale price” of the Common Stock on any date means the closing price for such Common Stock, as set forth in Section 11.05 of
the Indenture. The Company shall notify the Holders upon determination that Holders are or will be entitled to convert their Notes, or any portion of such principal amount which is $1,000 or an integral multiple thereof, into fully paid and
non-assessable shares of Common Stock in accordance with this paragraph 9, by issuing a press release and publishing such determination on the Company’s web site. 
  
 Conversion Based on Trading Price of the Notes. Subject to the provisions of this paragraph 9, and subject to and
upon compliance with the provisions of the Indenture, and notwithstanding the fact that any other condition to conversion has not been satisfied, the Holder of this Note has the right to convert this Note into shares of Common Stock during the five
business day period following any 10 consecutive trading days in which the average of the trading prices for the Notes for that 10 trading days was less than 98% of the average closing price (as defined in Section 11.05(g) of the Indenture) of the
Common Stock during such period multiplied by the Conversion Rate. The “Conversion Rate” shall be equal to the number of shares of Common Stock issuable upon conversion of a Note per $1,000 of principal amount thereof (i.e., $1,000
principal amount of the Note being converted divided by the applicable Conversion Price). 
  

 A-9 

 The “trading price” of the Notes on any date of determination means the average of the
secondary market bid quotations per Note obtained by the Trustee for $10,000,000 principal amount of the Notes at approximately 3:30 p.m., New York City time, on such determination date from three independent nationally recognized securities dealers
selected by the Company; provided that if at least three such bids cannot be obtained, but two such bids are obtained by the Trustee, then the average of the two bids shall be used. If the Trustee cannot reasonably obtain at least two bids for
$10,000,000 principal amount of the Notes from a nationally recognized securities dealer or, in the reasonable judgment of the Company, the bid quotations are not indicative of the secondary market value of the Notes, then the trading price of the
Notes will be deemed to be equal to 97.9% of (a) the Conversion Rate of the Notes as of the applicable date of determination multiplied by (b) the closing price (as set forth in Section 11.05 of the Indenture) of the Common Stock on such
determination date. 
  
 The Trustee will determine the trading
price of the Notes during the applicable period at the request of the Company. The Company shall make such request upon receipt of reasonable evidence from the Holder that the trading price of the Notes may be less than 98% of the average closing
price (as set forth in Section 11.05 of the Indenture) of the Common Stock multiplied by the Conversion Rate during the applicable period. 
  
 Conversion Upon Notice of Redemption. Subject to the provisions of this paragraph 9, and subject to and upon compliance with the provisions of the
Indenture, and notwithstanding the fact that any other condition to conversion has not been satisfied, the Holder of this Note has the right to convert into shares of Common Stock the Notes or a portion thereof which has been called for redemption
pursuant to Article 4 of the Indenture; provided that such Note or a portion thereof is surrendered for conversion on or prior to the close of business on the Redemption Date in accordance with the terms of the Indenture. 
  
 Conversion Upon Specified Corporate Transactions. Subject to the
provisions of this paragraph 9, and subject to and upon compliance with the provisions of the Indenture, and notwithstanding the fact that any other condition to conversion has not been satisfied, the Holder of this Note has the right to convert
this Note into shares of Common Stock in the event that the Company (i) issues rights or warrants to all holders of its outstanding shares of Common Stock entitling them to subscribe for or purchase, for a period expiring within 45 days after the
date of issuance, shares of Common Stock at a price per share less than the last reported sale price (as defined above) per share of Common Stock on the trading day (as defined in Section 11.05(g)) immediately preceding the date of the issuance; or
(ii) distributes to all holders of its outstanding shares of Common Stock any assets or debt securities of the Company, or rights to purchase any securities of the Company, which distribution has a per share value, as determined by the Board of
Directors (whose determination shall be conclusive and described in a resolution of the Board of Directors), that exceeds 15% of the last reported sale price (as defined above) per share of Common Stock on the trading day (as defined in Section
11.05(g)) immediately preceding the date of declaration of such distribution. The Company will be required to give notice to the Holders at least 20 business days prior to the ex-dividend date for such distribution, and Notes may be surrendered for
conversion at any time thereafter until the earlier of the close of business on the business day immediately prior to the ex-dividend date and the announcement by the Company that such distribution will not take place, even if the Notes are not
otherwise convertible at such time. The “ex-dividend date” shall mean the first date upon which the sale of 
  

 A-10 

 
the Common Stock does not automatically transfer the right to receive the relevant distribution from the seller of the Common Stock to its buyer. 

 
 Subject to the provisions of this paragraph 9, and subject to and upon
compliance with the provisions of the Indenture, and notwithstanding the fact that any other condition to conversion has not been satisfied, the Holder of this Note has the right to convert this Note into shares of Common Stock in the event the
Company is a party to any consolidation, merger, share exchange or combination pursuant to which the Common Stock would be converted into cash, securities or other property as set forth in Section 11.06 of the Indenture, the Notes may be surrendered
for conversion at any time from and after the date which is 15 days prior to the anticipated effective date of the transaction until 15 days after the actual effective date of such transaction and, at the effective time of such transaction, the
right to convert a Note into Common Stock will be deemed to have changed into a right to convert such Note into the kind and amount of cash, securities or other property of the Company or another person which the Holder would have received if the
Holder had converted its Notes immediately prior to the applicable record date for such transaction. 
  
 10. DEFAULTS AND REMEDIES. An Event of Default is: (a) a default in payment of the principal on the Notes when due upon redemption, repurchase or otherwise; (b) a default for 30 days in the payment of any installment
of interest or Liquidated Damages on the Notes when due (including any interest payable in connection with a repurchase or redemption of the Notes pursuant to the terms of the Indenture); (c) a failure to comply with or observe in any material
respect any covenant or agreement of the Company in respect of the Notes as set forth in the Indenture for 60 days after written notice to the Company from the Trustee or to the Company and the Trustee from Holders of at least 25% in aggregate
principal amount of the then outstanding Notes; (d) a default in the payment of the Designated Event Repurchase Price in respect of the Notes when the same becomes due; (e) a default in any credit agreement, mortgage, indenture or instrument under
which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any Restricted Subsidiary (other than any such Indebtedness which is non-recourse to the Company or such Restricted
Subsidiary), which default is caused by a failure to pay when due any principal on such Indebtedness at the final stated maturity date of such Indebtedness, which failure continues beyond any applicable grace period, or results in the acceleration
of such indebtedness prior to its express maturity, without such acceleration being rescinded or annulled, and, in each case, the principal amount of such Indebtedness, together with the principal amount of any other such Indebtedness under which
there is a payment default at the final stated maturity thereof or the maturity of which has been so accelerated, aggregates to $75 million or more and such payment default is not cured or such acceleration is not annulled within 30 days after
written notice to the Company by the Trustee or to the Company and the Trustee by Holders of not less than 25% in aggregate principal amount of the Notes then outstanding; and (f) certain events involving bankruptcy, insolvency or reorganization of
the Company. 
  
 If an Event of Default occurs and is continuing,
the Trustee, by written notice to the Company, or the Holders of at least 25% in principal amount of the then outstanding Notes, by written notice to the Company and the Trustee, may declare the unpaid principal of, and accrued and unpaid interest
and Liquidated Damages, if any, on all Notes then outstanding to be due and payable immediately, except that in the case of an Event of Default arising from certain events of 
  

 A-11 

 
bankruptcy, insolvency, or reorganization with respect to the Company, all outstanding Notes become due and payable without further action or notice. Holders
may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may require an indemnity satisfactory to it before it enforces the Indenture or the Notes. Subject to certain limitations, Holders of at least a majority in
principal amount of the then outstanding Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders notice of any continuing default (except a default in payment of principal of, or interest or
Liquidated Damages, if any, and the Redemption Price, Purchase Price or Designated Event Repurchase Price, if applicable) if it determines that withholding notice is in their interests. The Company must furnish annual compliance certificates to the
Trustee in accordance with the terms of the Indenture. 
  
 11. TRUSTEE DEALINGS
WITH THE COMPANY. Subject to Section 7.10 of the Indenture, the Trustee or any of its Affiliates, in their individual or any other capacities, may make or continue loans to or guaranteed by, accept deposits from and perform services for the Company
or its Affiliates and may otherwise deal with the Company or its Affiliates as if it were not Trustee. 
  
 12. NO RECOURSE AGAINST OTHERS. No director, officer, employee, stockholder or Affiliate, as such, of the Company shall have any liability for any obligations of the Company under the Notes or the Indenture or for any
claim based on, in respect of or by reason of such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability with respect to each director, officer, employee, stockholder and Affiliate of the Company. The
waiver and release are part of the consideration for the Notes. 
  
 13.
AUTHENTICATION. This Note shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. 
  
 14. ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN CO = 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. 
  
 15. REGISTRATION RIGHTS AGREEMENT. The Holder of this Note is entitled to the benefits of a Registration Rights Agreement, dated June 2, 2003, between the Company and the
Initial Purchaser (the “Registration Rights Agreement”). 
  
 In accordance with the terms of the Registration Rights Agreement, during any period in which a Registration Default (as defined in the Registration Rights Agreement) has occurred and is continuing, the Company will pay Liquidated Damages
in an amount equal .25% (or 25 basis points) per annum per $1,000 principal amount of notes or $2.50 per annum per 35.7143 shares of Common Stock (subject to adjustment from time to time in the event of a stock split, stock recombination, stock
dividend and similar events) constituting Transfer Restricted Securities (as defined in the Registration Rights Agreement), in accordance with the terms of the Registration Rights Agreement. 
  

 A-12 

 Liquidated Damages in respect of the Notes, if any, will be payable in cash semiannually, in arrears, on
each Interest Payment Date to the person in whose name each Note is registered at the close of business on the Regular Record Date immediately preceding the relevant Interest Payment Date, and will cease to accrue on the date the Registration
Default is cured. The above description of certain provisions of the Registration Rights Agreement is qualified by reference to, and is subject in its entirety to, the more complete description thereof contained in the Registration Rights Agreement.

  
 The Company will furnish to any Holder upon written request
and without charge a copy of the Indenture and the Registration Rights Agreement. Requests may be made to: Delta Air Lines, Inc., P.O. Box 20706, Atlanta, Georgia 30320, Attention: Investor Relations, Department No. 829, Telephone No.: (404)
715-2600. 
  
 16. SINKING FUND. The Notes do not have the benefit of any sinking
fund obligations. 
  

 A-13 

 FORM OF CONVERSION NOTICE 
  
 To: DELTA AIR LINES, INC. 
  
 The undersigned beneficial owner of this Note hereby irrevocably exercises the option to convert this Note, or portion
hereof (which is $1,000 or an integral multiple thereof) below designated, into shares of Common Stock of Delta Air Lines, Inc. in accordance with the terms of the Indenture referred to in this Note, and directs that the shares issuable and
deliverable upon the conversion, together with any check in payment for fractional shares and Notes representing any unconverted principal amount hereof, be issued and delivered to the beneficial owner hereof unless a different name has been
indicated below. If shares or any portion of this Note not converted are to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto. Any amount required to be paid by the
undersigned on account of interest and taxes accompanies this Note. 
  

	 Dated:
	 	  

	 Fill in for registration of shares if to be
 delivered, and Notes if to be issued, other
than to and in the name of the beneficial
owner (Please Print):
	 	  

	 	  

	 	Signature(s)
		
	  

	 	Principal amount to be converted

	(Name)	 	(if less than all):
		
	 	 	$                    ,000
	  

	 	 
	(Street Address)	 	 
	 	 	  

	  

	 	 Social Security or other Taxpayer Identification
Number
  

	(City, State and Zip Code)	 	 
		
	Signature Guarantee:*	 	 

	*	 	Signatures must be guaranteed by an eligible Guarantor Institution (banks, brokers, dealers, savings and loan associations and credit unions) with membership in an approved
signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15 if shares are to be issued, or Notes are to be delivered, other than to and in the name of the registered Holder(s). 

  

 A-14 

 ASSIGNMENT FORM 
  
 To assign this Note, fill in the form below: 
  
 (I) or (we) assign and transfer this Note to 
 ______________________________________________________________________________________________________________________________ 
 (Insert assignee’s social security or tax I.D. no.) 
  
 ______________________________________________________________________________________________________________________________ 
 ______________________________________________________________________________________________________________________________ 
 ______________________________________________________________________________________________________________________________ 
 (Print or type
assignee’s name, address and zip code) 
 and irrevocably appoint
                                        
             as agent to transfer this Note on the books of the Company. The agent may substitute another to act for him. 
  
 Your
Signature:                                      
                                        
                                        
                                        
                              
 (Sign exactly as your name appears on the other side of this Note) 
 Date:
                     
 Medallion Signature
Guarantee:
                                        
                                        
                         
 [FOR
INCLUSION ONLY IF THIS NOTE BEARS A RESTRICTED SECURITIES LEGEND] In connection with any transfer of any of the Notes evidenced by this certificate that are “restricted securities” (as defined in Rule 144 (or any successor thereto) under
the Securities Act), the undersigned confirms that such Notes are being transferred: 
  
 CHECK ONE BOX BELOW 
  
 (1)     ̈    to the Company; or 
  
 (2)     ̈    pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or 
  
 (3)     ̈    pursuant to and in compliance with Regulation S under the Securities Act of 1933; or 
  
 (4)     ̈    pursuant to an exemption from registration under the Securities Act of 1933 provided by Rule 144 thereunder. 
  
 Unless one of the boxes is checked, the Registrar will refuse to register any of the Notes evidenced by this certificate in the name of any person other than the
registered Holder thereof; provided, however, that if box (3) or (4) is checked, the Trustee may require, prior to registering any such transfer of the Notes, such certifications and other information, and if box (4) is checked such legal opinions,
as the Company has reasonably requested in writing, by delivery to the Trustee of a standing letter of instruction, 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 of 1933; provided that this paragraph shall not be applicable to any Notes which are not “restricted securities” (as defined in Rule 144 (or any successor thereto) under the Securities Act). 

 

 A-15 

 Your Signature:
                                        
                                        
                                        
                                        
                 
 (Sign exactly as your name appears on
the other side of this Note) 
  
 Date:
                     
  
 Medallion Signature Guarantee:
                                        
                                        
                                        
                          
  

 A-16 

 DESIGNATED EVENT REPURCHASE NOTICE 
  
 If you wish to have this Note repurchased by the Company pursuant to Section 4.09 of the Indenture, check the Box:  ̈ 
  
 If you wish to have a portion of this Note repurchased by the Company pursuant to Section 4.09 of the Indenture, state the amount (in multiples of $1,000):
$                    , 000. 
  
 Date:                     Your Signature:
                                        
                                        
                                        
                               
 (Sign exactly as your name appears on the other side of this Note) 
  
 Medallion Signature Guarantee:
                                        
                                        
                                        
                                    
  

 A-17 

 EXHIBIT B 
  

[FORM OF RESTRICTED COMMON STOCK LEGEND] 
  
 “THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. THE HOLDER
HEREOF, BY PURCHASING THIS SECURITY, AGREES FOR THE BENEFIT OF DELTA AIR LINES, INC. THAT THIS SECURITY MAY NOT BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED PRIOR TO THE LATER OF (X) THE EXPIRATION OF THE HOLDING PERIOD APPLICABLE TO THE
SALES OF THE SECURITY EVIDENCED HEREBY UNDER RULE 144(k) UNDER THE SECURITIES ACT (OR ANY SUCCESSOR PROVISION) OR (Y) THREE MONTHS AFTER SUCH HOLDER CEASES TO BE AN “AFFILIATE” (WITHIN THE MEANING OF RULE 144 UNDER THE SECURITIES ACT) OF
DELTA AIR LINES, INC., OTHER THAN (1) TO DELTA AIR LINES, INC., (2) SO LONG AS THIS SECURITY IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED
INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A, PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (3) IN AN OFFSHORE TRANSACTION (AS DEFINED IN
REGULATION S UNDER THE SECURITIES ACT) IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT, (4) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 (IF AVAILABLE) UNDER THE SECURITIES ACT OR (5) PURSUANT TO
AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND OTHER JURISDICTIONS. THE HOLDER HEREOF, BY PURCHASING THIS SECURITY, REPRESENTS AND
AGREES FOR THE BENEFIT OF DELTA AIR LINES, INC. THAT IT IS (1) A QUALIFIED INSTITUTIONAL BUYER OR (2) NOT A U.S. PERSON AND IS OUTSIDE THE UNITED STATES WITHIN THE MEANING OF (OR AN ACCOUNT SATISFYING THE REQUIREMENTS OF PARAGRAPH (k)(2) OF RULE 902
UNDER) REGULATION S UNDER THE SECURITIES ACT. IN ANY CASE THE HOLDER HEREOF WILL NOT, DIRECTLY OR INDIRECTLY, ENGAGE IN ANY HEDGING TRANSACTION WITH REGARD TO THIS SECURITY OR ANY COMMON STOCK ISSUABLE UPON CONVERSION OF THIS SECURITY EXCEPT AS
PERMITTED BY THE SECURITIES ACT.” 
  

 B-1 

 EXHIBIT C 
  

FORM OF TRANSFER CERTIFICATE FOR TRANSFER 
 OF RESTRICTED COMMON STOCK 
  
 (Transfers pursuant to
Section 11.11(b) of the Indenture) 
  
 [NAME AND
ADDRESS OF  
 COMMON STOCK TRANSFER AGENT] 
  

	 	Re:	 	Delta Air Lines, Inc. 8.00% Convertible Senior Notes
 due 2023 (the “Convertible Senior Notes”) 

  
 Reference is hereby made to the Indenture dated as of June 2, 2003 (the
“Indenture”) between Delta Air Lines, Inc. and The Bank of New York Trust Company of Florida, N.A., as Trustee. Capitalized terms used but not defined herein shall have the meanings given them in the Indenture. 
  
 This letter relates to
             shares of Common Stock [represented by the accompanying certificate(s) that were] [to be] issued upon conversion of Convertible Senior Notes and which are held in the
name of [name of transferor] (the “Transferor”) to effect the transfer of such Common Stock. 
  
 In connection with the transfer of such shares of Common Stock, the undersigned confirms that such shares of Common Stock are being transferred:

  
 CHECK ONE BOX BELOW 
  
 (1)     ̈    to the Company; or 
  
 (2)     ̈    pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or 
  
 (3)     ̈    pursuant to and in compliance with Regulation S under the Securities Act of 1933; or 
  
 (4)     ̈    pursuant to an exemption from registration under the Securities Act of 1933 provided by Rule 144 thereunder. 
  

 C-1 

 Unless one of the boxes is checked, the transfer agent will refuse to register any of the Common Stock
[evidenced by this certificate] [to be issued to] in the name of any person other than the registered Holder thereof; provided, however, that if box (2) or (3) is checked, the transfer agent may require, prior to registering any such transfer of the
Common Stock such certifications and other information, and if box (4) is checked such legal opinions, as the Company has reasonably requested in writing, by delivery to the transfer agent of a standing letter of instruction, 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 of 1933. 
  

	 [Name of Transferor],

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  
 Dated: 
  

 C-2Purchase Agreement

 Exhibit 4.2 
  

SMITHFIELD FOODS, INC. 
  
 $350,000,000 
  
 7 3⁄4% Senior Notes due 2013 
  
 PURCHASE AGREEMENT 
  
 May 14, 2003 
  
 J.P. Morgan Securities Inc.

 As representative of the several 
 Initial Purchasers listed in Schedule I hereto 
 c/o J.P. Morgan Securities Inc. 
 270 Park Avenue 
 4th floor 
 New
York, New York 10017 
  
 Ladies and Gentlemen: 
  
 Smithfield Foods, Inc., a Virginia corporation (the
“Company”), proposes to issue and sell $350,000,0000 aggregate principal amount of its 7 3⁄4% Senior Notes due 2013 (the “Securities”). The Securities will be issued pursuant to an Indenture dated as of May 21,
2003 (the “Indenture”) between the Company and SunTrust Bank, as trustee (the “Trustee”). The Company hereby confirms its agreement with the Initial Purchasers listed in Schedule I hereto (the “Initial
Purchasers”) concerning the purchase of the Securities from the Company by the Initial Purchasers. 
  
 The Securities will be offered and sold to the Initial Purchasers without being registered under the Securities Act of 1933, as amended (the
“Securities Act”), in reliance upon an exemption therefrom. The Company has prepared a preliminary offering memorandum dated May 12, 2003 (including the documents incorporated by reference therein, the “Preliminary Offering
Memorandum”) and will prepare an offering memorandum dated the date hereof (including the documents incorporated by reference therein, the “Offering Memorandum”) setting forth information concerning the Company and the
Securities. Copies of the Preliminary Offering Memorandum have been, and copies of the Offering Memorandum will be, delivered by the Company to the Initial Purchasers pursuant to the terms of this Agreement. Any references herein to the Preliminary
Offering Memorandum and the Offering Memorandum shall be deemed to include all amendments and supplements thereto, unless otherwise noted. The Company hereby confirms that it has authorized the use of the Preliminary Offering Memorandum and the
Offering Memorandum in connection with the offering and resale of the Securities by the Initial Purchasers in accordance with Section 2. 

 Holders of the Securities (including each Initial Purchaser and its direct and indirect transferees) will
be entitled to the benefits of a Registration Rights Agreement, substantially in the form attached hereto as Annex A (the “Registration Rights Agreement”), pursuant to which the Company will agree to file with the Securities and
Exchange Commission (the “Commission”) a registration statement under the Securities Act (the “Exchange Offer Registration Statement”) registering an issue of senior notes of the Company (the “Exchange
Securities”) and, under certain circumstances, a shelf registration statement pursuant to Rule 415 under the Securities Act (the “Shelf Registration Statement”). 
  
 Capitalized terms used but not defined herein shall have the meanings given to such terms in the Offering Memorandum.

  
 1. Representations, Warranties and Agreements of the
Company . The Company represents and warrants to, and agrees with, the several Initial Purchasers on and as of the date hereof and the Closing Date (as defined in Section 3) as set forth below in this Section 1. Any reference to persons acting
on behalf of the Company, or on behalf of any of the Company’s affiliates, does not include the Initial Purchasers, with respect to whom the Company makes no representation. 
  
 (a) Each of the Preliminary Offering Memorandum and the Offering Memorandum, as of their respective dates,
did not, and on the Closing Date the Offering Memorandum will not, contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading; provided that the Company makes no representation or warranty as to information contained in or omitted from the Preliminary Offering Memorandum or the Offering Memorandum in
reliance upon and in conformity with written information relating to any Initial Purchaser furnished to the Company by or on behalf of the Initial Purchasers specifically for use therein, (the “Initial Purchasers’
Information”), as specified in Section 16 hereof. 
  
 (b) Each of the Preliminary Offering Memorandum and the Offering Memorandum, as of its respective date, contains all of the information that, if requested by a prospective purchaser of the Securities, would be
required to be provided to such prospective purchaser pursuant to Rule 144A(d)(4) under the Securities Act. 
  
 (c) Assuming the accuracy of the representations and warranties of the Initial Purchasers contained in Section 2 and their compliance with
the agreements set forth therein, it is not necessary, in connection with the issuance and sale of the Securities to the Initial Purchasers and the offer, resale and delivery of the Securities by the Initial Purchasers in the manner contemplated by
this Agreement and the Offering Memorandum, to register the Securities under the Securities Act or to qualify the Indenture under the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”). 
  
 (d) The documents incorporated by reference in the Offering
Memorandum (the “Incorporated Documents”), when they were filed with the Commission, conformed in all 

  

 2 

 
material respects to the requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations
of the Commission thereunder, and none of such documents contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading; and any further
documents so filed and incorporated by reference in the Offering Memorandum or any further amendment or supplement thereto, when such documents are filed with the Commission, will conform in all material respects to the requirements of the Exchange
Act and the rules and regulations of the Commission thereunder, and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading.
The representation and warranty set forth in this paragraph (d) is given on the basis that any statement contained in an Incorporated Document shall be deemed not to be contained in the Offering Memorandum if the statement has been modified or
superseded by any statement in a subsequently filed Incorporated Document or in the Offering Memorandum. 
  
 (e) The Company has been duly incorporated and is validly existing as a corporation in good standing under the laws of the Commonwealth of
Virginia, with power and authority (corporate and other) to own its properties and conduct its business as described in the Offering Memorandum, and has been duly qualified as a foreign corporation for the transaction of business and is in good
standing under the laws of each other jurisdiction in which it owns or leases properties, or conducts any business, so as to require such qualification, or is subject to no material liability or disability by reason of the failure to be so qualified
in any such jurisdiction; and each of its subsidiaries listed on Schedule II hereto (the “Subsidiaries”) has been duly formed and is validly existing as a legal entity in good standing under the laws of its jurisdiction of formation
and has been duly qualified as a foreign legal entity for the transaction of business and is in good standing under the laws of each other jurisdiction in which it owns or leases properties, or conducts any business, so as to require such
qualification, or is subject to no material liability or disability by reason of the failure to be so qualified in any such jurisdiction, except to the extent the failure to so qualify as a foreign legal entity could not reasonably be expected to
have a Material Adverse Effect (as defined below). The Company does not own or control, directly or indirectly, any corporation, association or other entity other than the Subsidiaries. 
  
 (f) The Company has an authorized capitalization as set forth in the Offering Memorandum under the heading
“Capitalization,” and all the issued shares of capital stock of the Company have been duly and validly authorized and issued, are fully paid and non-assessable; and all of the issued shares of capital stock of each of the Subsidiaries have
been duly and validly authorized and issued, are fully paid and non-assessable and other than as set forth or contemplated in the Offering Memorandum are owned directly or indirectly by the Company, free and clear of all liens, encumbrances,
equities or claims. 
  
 (g) The Company has full
corporate power and authority to execute and deliver this Agreement, the Indenture, the Registration Rights Agreement, the Securities and the 

  

 3 

 
Exchange Securities (collectively, the “Transaction Documents”) and to perform its obligations hereunder and thereunder; and all corporate,
limited liability company or limited partnership action required to be taken for the due and proper authorization, execution and delivery of each of the Transaction Documents and the consummation of the transactions contemplated thereby have been
duly and validly taken. 
  
 (h) This Agreement
has been duly authorized, executed and delivered by the Company and constitutes a valid and legally binding agreement of the Company enforceable against the Company in accordance with its terms, subject to bankruptcy, insolvency, fraudulent
conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally and to general equitable principles (whether considered in a proceeding in equity or at law) and considerations of public policy
as they relate to the enforcement of the indemnification provisions hereof. 
  
 (i) The Registration Rights Agreement has been duly authorized by the Company and, when duly executed and delivered in accordance with its terms by each of the parties thereto, will constitute a valid and legally
binding agreement of the Company enforceable against the Company in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’
rights generally and to general equitable principles (whether considered in a proceeding in equity or at law) and considerations of public policy as they relate to the enforcement of the indemnification provisions hereof. 
  
 (j) The Indenture has been duly authorized by the Company
and, when duly executed and delivered in accordance with its terms by each of the parties thereto, will constitute a valid and legally binding agreement of the Company enforceable against the Company in accordance with its terms, subject to
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally and to general equitable principles (whether considered in a proceeding in equity or at law).
On the Closing Date, the Indenture will conform in all material respects to the requirements of the Trust Indenture Act and the rules and regulations of the Commission applicable to an indenture which is qualified thereunder. 
  
 (k) The Securities have been duly authorized by the Company
and, when duly executed, authenticated, issued and delivered as provided in the Indenture (assuming the Indenture is the valid and legally binding obligation of the Trustee and due authentication of the Securities by the Trustee) and paid for as
provided herein, will be duly and validly issued and outstanding and will constitute valid and legally binding obligations of the Company, as issuer, entitled to the benefits of the Indenture and enforceable against the Company, as issuer, in
accordance with their terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally and to general equitable principles (whether
considered in a proceeding in equity or at law). 
  
 (l) The Exchange Securities have been duly authorized by the Company and, when duly executed, authenticated, issued and delivered as provided in the Indenture and 

  

 4 

 
the Registration Rights Agreement (assuming the Indenture is the valid and legally binding obligation of the Trustee and due authentication of the Exchange
Securities by the Trustee), will be duly and validly issued and outstanding and will constitute valid and legally binding obligations of the Company, as issuer, entitled to the benefits of the Indenture and enforceable against the Company, as
issuer, in accordance with their terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally and to general equitable principles
(whether considered in a proceeding in equity or at law). 
  
 (m) Each Transaction Document conforms in all material respects to the description thereof contained in the Offering Memorandum. 
  
 (n) The execution, delivery and performance by the Company of its obligations under each of the Transaction
Documents to which it is a party and the issue and sale of the Securities and the Exchange Securities by the Company and the compliance by the Company with all of the provisions of this Agreement and the other Transaction Documents and the
consummation of the transactions contemplated herein and therein will not conflict with or result in a breach or violation of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement or other
agreement or instrument to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound or to which any of the property or assets of the Company or any of its Subsidiaries is subject, except for
any such conflicts, breaches, violations or defaults that would not have a Material Adverse Effect (as defined below), nor will such action result in any violations of the provisions of the charter or by-laws (or other comparable organizational
documents) of the Company or any of its Subsidiaries or any statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company or any of its Subsidiaries or any of their properties, except any
such violation that would not have a Material Adverse Effect; and no consent, approval, authorization, order, registration or qualification of or with any such court or governmental agency or body is required for the execution, delivery and
performance by the Company of its obligations under each of the Transaction Documents to which it is a party and the issue, sale, authentication and delivery of the Securities, the issue, authentication and delivery of the Exchange Securities or the
consummation by the Company of the transactions contemplated by this Agreement and the other Transaction Documents, except for such consents, approvals, authorizations, registrations or qualifications (i) which shall have been obtained or made prior
to the Closing Date and as may be required to be obtained or made under the Securities Act and applicable state securities laws, as provided in the Registration Rights Agreement or (ii) the failure of which to be obtained or made would not have a
Material Adverse Effect. 
  
 (o) Ernst &
Young LLP (“Ernst & Young”) is and Arthur Andersen LLP was, when serving as the Company’s independent auditor, independent certified public accountants with respect to the Company and its Subsidiaries (i) as required by the
Securities Act and the rules and regulations of the Commission thereunder and (ii) within the meaning of Rule 101 of the Code of Professional Conduct of the American Institute of Certified Public Accountants (“AICPA”) and its
interpretations and rulings thereunder. 

  

 5 

 
The historical financial statements (including the related notes) contained in, and incorporated by reference into, the Offering Memorandum comply as to form
in all material respects with the applicable accounting requirements of the Securities Act and the related published rules and regulations; such financial statements have been prepared in accordance with generally accepted accounting principles
consistently applied throughout the periods covered thereby and fairly present the financial position of the entities purported to be covered thereby at the respective dates indicated and the results of their operations and their cash flows for the
respective periods indicated; and the financial information contained in the Offering Memorandum under the headings “Summary—Summary consolidated condensed financial information,” “Capitalization,” “Selected historical
consolidated financial data” and “Management’s discussion and analysis of financial condition and results of operations,” and the financial information contained in the Company’s Proxy Statement for Annual Meeting of
Shareholders dated July 31, 2002, incorporated by reference in the Offering Memorandum, under the heading “Executive Compensation” are derived from the accounting records of the Company and its Subsidiaries and fairly present the
information purported to be shown thereby. The other historical financial and statistical information and data included in, and incorporated by reference into, the Offering Memorandum are, in all material respects, fairly presented. 
  
 (p) Other than as set forth or contemplated in the Offering
Memorandum, there are no legal or governmental proceedings pending to which the Company or any of its Subsidiaries is a party or of which any property of the Company or any of its Subsidiaries is the subject which, if determined adversely to the
Company or any of its Subsidiaries, individually or in the aggregate would have a material adverse effect on the condition (financial or otherwise), results of operations, business or prospects of the Company and its Subsidiaries taken as a whole
(“Material Adverse Effect”); and, to the best of the Company’s knowledge, no such proceedings are threatened or contemplated by governmental authorities or threatened by others. 
  
 (q) No injunction, restraining order or order of any nature
by any federal or state court of competent jurisdiction has been issued with respect to the Company or any of its Subsidiaries which would prevent or suspend the issuance or sale of the Securities or the use of the Preliminary Offering Memorandum or
the Offering Memorandum in any jurisdiction; no action, suit or proceeding is pending against or, to the best knowledge of the Company, threatened against or affecting the Company or any of its Subsidiaries before any court or arbitrator or any
governmental agency, body or official, domestic or foreign, which could reasonably be expected to interfere with or adversely affect the issuance of the Securities or in any manner draw into question the validity or enforceability of any of the
Transaction Documents or any action taken or to be taken pursuant thereto; and the Company has complied with any and all known requests, or any and all requests that should have been reasonably known, by any securities authority in any jurisdiction
for additional information to be included in the Preliminary Offering Memorandum and the Offering Memorandum. 
  

 6 

 (r) Except with respect to the matters referred to in Section 5(q), neither the Company
nor any of its Subsidiaries is (i) in violation of its charter or by-laws (or other comparable organizational documents), (ii) in default, and no event has occurred which, with notice or lapse of time or both, would constitute such a default, in the
due performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which it is a party or by which it is bound or to which any of its property or
assets is subject or (iii) in violation in any respect of any law, ordinance, governmental rule, regulation or court decree to which it or its property or assets may be subject, which default under clause (ii) or violation under clause (iii) could
reasonably be expected to have a Material Adverse Effect. 
  
 (s) The Company and each of its Subsidiaries possess all material licenses, certificates, authorizations and permits issued by, and have made all declarations and filings with, the appropriate federal, state, local or
foreign regulatory agencies or bodies which are necessary or desirable for the ownership of their respective properties or the conduct of their respective businesses as described in the Offering Memorandum, except where the failure to possess or
make the same would not have, singularly or in the aggregate, a Material Adverse Effect, and neither the Company nor any of its Subsidiaries has received notification of any revocation or modification of any such license, certificate, authorization
or permit or has any reason to believe that any such license, certificate, authorization or permit will not be renewed in the ordinary course. 
  
 (t) The Company and each of its Subsidiaries have good and marketable title in fee simple to all real property and good and marketable
title to all personal property owned by them, in each case free and clear of all liens, encumbrances and defects except such as are described in the Offering Memorandum or such as do not materially affect the value of such property and do not
interfere with the use made and proposed to be made of such property by the Company and its Subsidiaries; and any real property and buildings held under lease by the Company and its Subsidiaries are held by them under valid, subsisting and
enforceable leases with such exceptions as are not material and do not materially interfere with the use made and proposed to be made of such property and buildings by the Company and its Subsidiaries. 
  
 (u) The Company and each of its Subsidiaries own or possess
adequate rights to use all material patents, patent applications, trademarks, service marks, trade names, trademark registrations, service mark registrations, copyrights, licenses and know-how (including trade secrets and other unpatented and/or
unpatentable proprietary or confidential information, systems or procedures) necessary for the conduct of their respective businesses; and the conduct of their respective businesses will not conflict in any material respect with any such rights of
others, and the Company and each of its Subsidiaries have not received any notice of any claim of infringement of or conflict with any such rights of others, which notice could reasonably be expected to result in a Material Adverse Effect.

  

 7 

 (v) No material labor disturbance by or dispute with the employees of the Company or any
of its Subsidiaries exists or, to the best knowledge of the Company, is contemplated or threatened. 
  
 (w) The Company and each of its Subsidiaries have paid all federal, state, local and foreign taxes and filed all tax returns required to
be paid or filed through the date hereof (except for such taxes that are not yet delinquent or that are being contested in good faith and by proper proceedings, and against which adequate reserves are being maintained in accordance with generally
accepted accounting principles); and except as otherwise disclosed in the Preliminary Offering Memorandum and the Offering Memorandum, there is no material tax deficiency that has been, or could reasonably be expected to be, asserted against the
Company or any of its Subsidiaries or any of their respective properties or assets. 
  
 (x) Other than as set forth in the Offering Memorandum, there has been no storage, generation, transportation, handling, treatment,
presence, disposal, discharge, emission or other release of any kind of toxic or other wastes or other hazardous substances by, due to or caused by the Company or any of its Subsidiaries or any of their predecessors (or, to the best knowledge of the
Company, any other entity for whose acts or omissions the Company or any of its Subsidiaries is or could reasonably be expected to be liable) at any of the property now or previously owned or leased by the Company or any of its Subsidiaries, or at
any other property (i) in violation of any statute or any ordinance, rule (including rule of common law), regulation, order, judgment, decree or permit or (ii) which would, under any statute or any ordinance, rule (including rule of common law),
regulation, order, judgment, decree or permit, give rise to any liability, except in the case of both clauses (i) and (ii), for any violation or liability which could not reasonably be expected to have, singularly or in the aggregate with all such
violations and liabilities, a Material Adverse Effect; and there has been no presence, disposal, discharge, emission or other release of any kind at any of the property now or previously owned or leased by the Company or any of its Subsidiaries, or
into the environment surrounding such property of any toxic or other wastes or other hazardous substances with respect to which the Company or any of its Subsidiaries has any knowledge, except for any such presence, disposal, discharge, emission or
other release of any kind which could not reasonably be expected to have, singularly or in the aggregate with all such discharges and other releases, a Material Adverse Effect. 
  
 (y) Each employee benefit plan, within the meaning of Section 3(3) of the Employee Retirement Income
Security Act of 1974, as amended (“ERISA”), that is maintained, administered or contributed to by the Company, any of its Subsidiaries or any member of their respective “controlled groups” (defined as entities which are
treated as a single employer under Section 414 of the Internal Revenue Code of 1986, as amended) for employees or former employees of the Company, any of its Subsidiaries or any member of their respective controlled groups have been maintained in
all material respects in compliance with its terms and the requirements of any applicable statutes, orders, rules and regulations, including but not limited to ERISA and the Internal Revenue Code of 1986, as amended (the “Code”); no
prohibited transaction, within the 

  

 8 

 
meaning of Section 406 of ERISA or Section 4975 of the Code, has occurred with respect to any such plan excluding transactions effected pursuant to a
statutory or administrative exemption; and for each such plan that is subject to the funding rules of Section 412 of the Code or Section 302 of ERISA, no “accumulated funding deficiency” as defined in Section 412 of the Code has been
incurred, whether or not waived, and, except as otherwise disclosed in the Preliminary Offering Memorandum and the Offering Memorandum, the fair market value of the assets of each such plan (excluding for these purposes accrued but unpaid
contributions) exceeds the present value of all benefits accrued under such plan determined using reasonable actuarial assumptions. 
  
 (z) The Company and its Subsidiaries maintain systems of internal accounting controls sufficient to provide reasonable assurance that (i)
transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles
and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with the existing assets at reasonable
intervals and appropriate action is taken with respect to any differences. 
  
 (aa) Neither the Company nor any of its Subsidiaries nor, to the best knowledge of the Company, any director, officer, agent, employee or other person associated with or acting on behalf of the Company or any of its
Subsidiaries has (i) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic government
official or employee from corporate funds; (iii) violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977; or (iv) made any bribe, payoff, influence payment, kickback or other unlawful payment. 
  
 (bb) Other than as set forth in the Offering Memorandum, no
Subsidiary of the Company is currently prohibited, directly or indirectly, under any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument evidencing indebtedness to which it is a party or by which it is bound or to
which any of its properties or assets is subject, from paying any dividends to the Company or any other Subsidiary, from making any other distribution on such Subsidiary’s capital stock, from repaying to the Company or any Subsidiary any loans
or advances to such Subsidiary from the Company or such Subsidiary or from transferring any of such Subsidiary’s properties or assets to the Company or any other Subsidiary. 
  
 (cc) None of the proceeds of the sale of the Securities will be used, directly or indirectly, for the
purpose of purchasing or carrying any margin security, for the purpose of reducing or retiring any indebtedness which was originally incurred to purchase or carry any margin security or for any other purpose which might cause any of the Securities
to be considered a “purpose credit” within the meanings of Regulation T, U or X of the Board of Governors of the Federal Reserve System. 
  

 9 

 (dd) Other than this Agreement, neither the Company nor any of its Subsidiaries is a
party to any contract, agreement or understanding with any person that would give rise to a valid claim against the Company or the Initial Purchasers for a brokerage commission, finder’s fee or like payment in connection with the offering and
sale of the Securities. 
  
 (ee) None of the
Company, any of its affiliates or any person acting on its or their behalf has engaged or will engage in any directed selling efforts (as such term is defined in Rule 902(c) of Regulation S under the Securities Act (“Regulation S”))
with respect to the Securities, and all such persons have complied and will comply with the offering restrictions requirement of Regulation S to the extent applicable. 
  
 (ff) Neither the Company nor any of its affiliates has, directly or through any agent, sold, offered for
sale, solicited offers to buy or otherwise negotiated in respect of, any security (as such term is defined in the Securities Act), which is or will be integrated with the sale of the Securities in a manner that would require registration of the
Securities under the Securities Act. 
  
 (gg)
None of the Company or any of its affiliates or any other person acting on its or their behalf has engaged, in connection with the offering of the Securities, in any form of general solicitation or general advertising within the meaning of Rule
502(c) under the Securities Act. 
  
 (hh) When
the Securities are delivered pursuant to this Agreement, none of the Securities will be of the same class (within the meaning of Rule 144A under the Securities Act (“Rule 144A”)) as securities of the Company that are listed on a
national securities exchange registered under Section 6 of the Exchange Act, or quoted in a U.S. automated inter-dealer quotation system. 
  
 (ii) The Company has not taken and will not take, directly or indirectly, any action prohibited by Regulation M under the Exchange Act in
connection with the offering of the Securities (other than actions taken by the Initial Purchasers, as to which the Company makes no representation). 
  
 (jj) No forward-looking statement (within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act) contained
in the Preliminary Offering Memorandum or the Offering Memorandum has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith. 
  
 (kk) Since the date as of which information is given in the Offering Memorandum (excluding any amendment or
supplement thereto or any document incorporated by reference therein), except as otherwise stated or contemplated therein, (i) there has not been any change in the capital stock or long-term debt of the Company or any of its Subsidiaries, or any
dividend or distribution of any kind declared, set aside for payment, paid or made by the Company on any class of capital stock, or any material adverse change, or any development involving a prospective material adverse change, in 

  

 10 

 
or affecting the business, properties, management, financial position, results of operations or prospects of the Company and its Subsidiaries taken as a
whole; (ii) neither the Company nor any of its Subsidiaries has entered into any transaction, incurred any liability or obligation, direct or contingent, where such transaction, liability or obligation is material, either individually or in the
aggregate, to the Company and its Subsidiaries taken as a whole; and (iii) neither the Company nor any of its Subsidiaries has sustained any loss or interference with its business from any labor disturbance or dispute or any action, order or decree
of any court or arbitrator or governmental or regulatory authority, where such occurrence or event is material, either individually or in the aggregate, to the Company and its Subsidiaries taken as a whole, except in each case as otherwise disclosed
in the Preliminary Offering Memorandum and the Offering Memorandum. 
  
 (ll) No holder of securities of the Company or any of its Subsidiaries will be entitled to have such securities registered under the registration statements required to be filed by the Company pursuant to the
Registration Rights Agreement, other than as expressly permitted thereby. 
  
 (mm) Nothing has come to the attention of the Company that has caused the Company to believe that the market-related data included in, or incorporated by reference into, the Preliminary Offering Memorandum and the
Offering Memorandum is not based on or derived from sources that are reliable and accurate in all material respects. 
  
 (nn) The Company has complied with the applicable provisions of the Sarbanes-Oxley Act of 2002, and, to the best of the Company’s
knowledge, the Company’s directors and officers, in their capacities as such, have complied with the applicable provisions of the Sarbanes-Oxley Act of 2002. 
  
 2. Purchase and Resale of the Securities. (a) On the basis of the representations, warranties and agreements
contained herein, and subject to the terms and conditions set forth herein, the Company agrees to issue and sell to the Initial Purchasers, and each Initial Purchaser, severally and not jointly, agrees to purchase from the Company, the principal
amount of Securities set forth opposite the name of such Initial Purchaser on Schedule I hereto at a purchase price equal to 98.5% of the principal amount thereof. The Company shall not be obligated to deliver any of the Securities except upon
payment for all of the Securities to be purchased as provided herein. 
  
 (b) Each Initial Purchaser has advised the Company that it proposes to offer the Securities for resale upon the terms and subject to the conditions set forth herein and in the Offering Memorandum. Each Initial Purchaser, severally and not
jointly, represents and warrants to, and agrees with, the Company that (i) it is purchasing the Securities pursuant to a private sale exempt from registration under the Securities Act, (ii) it has not solicited offers for, or offered or sold, and
will not solicit offers for, or offer to sell, the Securities by means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D under the Securities Act (“Regulation D”) or in any
manner involving a public offering within the meaning of Section 4(2) of the Securities Act and (iii) it has solicited and will solicit offers for the Securities only from, and has offered or sold and will offer, sell or deliver 

  

 11 

 
the Securities, at any time prior to the completion of its distribution of the Securities, only (A) within the United States to persons whom it reasonably
believes to be qualified institutional buyers (“Qualified Institutional Buyers”) as defined in Rule 144A, or if any such person is buying for one or more institutional accounts for which such person is acting as fiduciary or agent,
only when such person has represented to it that each such account is a Qualified Institutional Buyer to whom notice has been given that such sale or delivery is being made in reliance on Rule 144A and in each case, in transactions in accordance
with Rule 144A and (B) outside the United States to persons other than U.S. persons in reliance on Regulation S. 
  
 Terms used in this Section 2(b), and otherwise not defined herein, have the meanings given to them by Regulation S. 
  
 (c) In connection with the offer and sale of Securities in reliance on
Regulation S, each Initial Purchaser, severally and not jointly, represents, warrants and agrees that: 
  
 (i) such Initial Purchaser is a Qualified Institutional Buyer, with such knowledge and experience in financial and business matters as are
necessary in order to evaluate the merits and risks of an investment in the Securities; 
  
 (ii) the Securities have not been registered under the Securities Act and may not be offered or sold within the United States or to, or
for the account or benefit of, U.S. persons except pursuant to an exemption from, or in transactions not subject to, the registration requirements of the Securities Act; 
  
 (iii) such Initial Purchaser has offered and sold the Securities, and will offer and sell the Securities,
(A) as part of its distribution at any time and (B) otherwise until 40 days after the later of the commencement of the offering of the Securities and the Closing Date, only in accordance with Regulation S or Rule 144A or any other available
exemption from registration under the Securities Act; 
  
 (iv) none of such Initial Purchaser or any of its affiliates or any other person acting on its or their behalf has engaged or will engage in any directed selling efforts (as such term is defined in Regulation S) with respect to the
Securities, and all such persons have complied and will comply with the offering restrictions requirement of Regulation S; 
  
 (v) at or prior to the confirmation of sale of any Securities sold in reliance on Regulation S, it will have sent to each distributor,
dealer or other person receiving a selling concession, fee or other remuneration that purchases Securities from it during the restricted period a confirmation or notice to substantially the following effect: 
  
 “The Securities covered hereby have not been registered under the U.S.
Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (i) as part of their distribution at any time or (ii) otherwise until
40 days after the later 
  

 12 

 
of the commencement of the offering of the Securities and the date of original issuance of the Securities, except in accordance with Regulation S or Rule
144A or any other available exemption from registration under the Securities Act. Terms used above have the meanings given to them by Regulation S.”; and 
  

(vi) it has not and will not enter into any contractual arrangement with any distributor with respect to the distribution of the
Securities, except with its affiliates or with the prior written consent of the Company. 
  
 Terms used in this Section 2(c), and otherwise not defined herein, have the meanings given to them by Regulation S. 
  
 (d) Each Initial Purchaser, severally and not jointly, represents, warrants and agrees that (i) it has not offered or sold and prior to the date six
months after the Closing Date will not offer or sell any Securities to persons in the United Kingdom except to persons whose ordinary activities involve them in acquiring, holding, managing or disposing of investments (as principal or agent) for the
purposes of their businesses or otherwise in circumstances which have not resulted and will not result in an offer to the public in the United Kingdom within the meaning of the Public Offers of Securities Regulations 1995 (as amended); (ii) it has
only communicated or caused to be communicated and will only communicate or cause to be communicated any invitation or inducement to engage in investment activity (within the meaning of Section 21 of the United Kingdom Financial Services and Markets
Act 2000 (the “FSMA”)) received by it in connection with the issue or sale of any Securities in circumstances in which Section 21(1) of the FSMA does not apply to the Company; and (iii) it has complied and will comply
with all applicable provisions of the FSMA with respect to anything done by it in relation to the Securities in, from or otherwise involving the United Kingdom. 
  

(e) Each Initial Purchaser, severally and not jointly, agrees that, prior to or simultaneously with the confirmation of sale by such Initial Purchaser
to any purchaser of any of the Securities purchased by such Initial Purchaser from the Company pursuant hereto, each Initial Purchaser shall furnish to that purchaser a copy of the Offering Memorandum (and any amendment or supplement thereto that
the Company shall have furnished to such Initial Purchaser prior to the date of such confirmation of sale). In addition to the foregoing, each Initial Purchaser acknowledges and agrees that the Company and, for purposes of the opinions to be
delivered to the Initial Purchasers pursuant to Sections 5(c) and (d), counsel for the Company and for the Initial Purchasers, respectively, may rely upon the accuracy of the representations and warranties of each Initial Purchaser and their
compliance with their agreements contained in this Section 2, and each Initial Purchaser hereby consents to such reliance. 
  
 (f) The Company acknowledges and agrees that the Initial Purchasers may sell Securities to any of its affiliates and that any such affiliate may sell
Securities purchased by it to an Initial Purchaser. 
  
 3.
Delivery of and Payment for the Securities. (a) Delivery of and payment for the Securities shall be made at the offices of Simpson Thacher & Bartlett, New York, New York, 
  

 13 

 
or at such other place as shall be agreed upon by the Initial Purchasers and the Company, at 9:00 A.M., New York City time, on May 21, 2003 or at such other
time or date, not later than seven full business days thereafter, as shall be agreed upon by the Initial Purchasers and the Company (such date and time of payment and delivery being referred to herein as the “Closing Date”). 
  
 (b) On the Closing Date, payment of the purchase price for the Securities
shall be made to the Company by wire or book-entry transfer of same-day funds to such account or accounts as the Company shall specify prior to the Closing Date or by such other means as the parties hereto shall agree prior to the Closing Date
against delivery to the Initial Purchasers of the certificate(s) evidencing the Securities. Time shall be of the essence, and delivery by the Company at the time and place specified pursuant to this Agreement is a further condition of the
obligations of each Initial Purchaser hereunder. Upon delivery, the Securities shall be in global form, registered in such names and in such denominations as J.P. Morgan Securities Inc. (“JPMSI”) on behalf of the Initial Purchasers
shall have requested in writing not less than two full business days prior to the Closing Date. The Company agrees to make one or more global certificates evidencing the Securities available for inspection by JPMSI on behalf of the Initial
Purchasers in New York City at least 24 hours prior to the Closing Date. 
  
 4. Further Agreements of the Company. The Company agrees with the Initial Purchasers: 
  
 (a) at any time prior to the completion of the distribution by the Initial Purchasers of the Securities, to advise the Initial Purchasers
promptly and, if requested, confirm such advice in writing, of the happening of any event which makes any statement of a material fact made in the Offering Memorandum untrue or which requires the making of any additions to or changes (whether
through incorporation by reference or otherwise) in the Offering Memorandum (as amended or supplemented from time to time) in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; to
advise the Initial Purchasers promptly of any order preventing or suspending the use of the Preliminary Offering Memorandum or the Offering Memorandum, of any suspension of the qualification of the Securities for offering or sale in any jurisdiction
and of the initiation or threatening of any proceeding for any such purpose; and to use its best efforts to prevent the issuance of any such order preventing or suspending the use of the Preliminary Offering Memorandum or the Offering Memorandum or
suspending any such qualification and, if any such suspension is issued, to obtain the lifting thereof at the earliest possible time; 
  
 (b) at any time prior to the completion of the distribution by the Initial Purchasers of the Securities, to furnish promptly to each of
the Initial Purchasers and counsel for the Initial Purchasers, without charge, as many copies of the Preliminary Offering Memorandum and the Offering Memorandum (and any amendments or supplements thereto) as may be reasonably requested; 

 
 (c) prior to making any amendment or supplement to the
Offering Memorandum, to furnish a copy thereof to each of the Initial Purchasers and counsel for the Initial Purchasers and not to effect any such amendment or supplement to which the Initial 

  

 14 

 
Purchasers shall reasonably object by notice to the Company after a reasonable period to review; 
  
 (d) if, at any time prior to completion of the resale of the
Securities by the Initial Purchasers, any event shall occur or condition exist as a result of which it is necessary, in the opinion of counsel for the Initial Purchasers or counsel for the Company, to amend or supplement (whether through
incorporation by reference or otherwise) the Offering Memorandum in order that the Offering Memorandum will not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the
light of the circumstances existing at the time it is delivered to a purchaser, not misleading, or if it is necessary to amend or supplement (whether through incorporation by reference or otherwise) the Offering Memorandum to comply with applicable
law, to promptly prepare such amendment or supplement as may be necessary to correct such untrue statement or omission or so that the Offering Memorandum, as so amended or supplemented, will comply with applicable law; 
  
 (e) for so long as the Securities are outstanding and are
“restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, to furnish to holders of the Securities and prospective purchasers of the Securities designated by such holders, upon request of such holders or such
prospective purchasers, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act, unless the Company is then subject to and in compliance with Section 13 or 15(d) of the Exchange Act (the foregoing agreement
being for the benefit of the holders from time to time of the Securities and prospective purchasers of the Securities designated by such holders); 
  
 (f) unless such reports are available through the Commission’s EDGAR system, for so long as the Securities are outstanding, to
furnish to the Initial Purchasers copies of any annual reports, quarterly reports and current reports filed by the Company with the Commission on Forms 10-K, 10-Q and 8-K, or such other similar forms as may be designated by the Commission, and such
other documents, reports and information as shall be furnished by the Company to the Trustee or to the holders of the Securities pursuant to the Indenture or the Exchange Act or any rule or regulation of the Commission thereunder; 
  
 (g) to promptly take from time to time such actions as the
Initial Purchasers may reasonably request to qualify the Securities for offering and sale by the Initial Purchasers under the securities or Blue Sky laws of such jurisdictions as the Initial Purchasers may designate and to continue such
qualifications in effect for so long as required for the resale of the Securities; and to arrange for the determination of the eligibility for investment of the Securities under the laws of such jurisdictions as the Initial Purchasers may reasonably
request; provided that neither the Company nor any of its Subsidiaries shall be obligated to qualify as a foreign corporation in any jurisdiction in which it is not so qualified or to file a general consent to service of process in any
jurisdiction or subject itself to taxation in excess of a nominal dollar amount in any such jurisdiction where it is not then so subject; 
  

 15 

 (h) to assist the Initial Purchasers in arranging for the Securities to be designated
Private Offerings, Resales and Trading through Automated Linkages (“PORTAL”) Market securities in accordance with the rules and regulations adopted by the National Association of Securities Dealers, Inc. (“NASD”)
relating to trading in the PORTAL Market and for the Securities to be eligible for clearance and settlement through The Depository Trust Company (“DTC”); 
  
 (i) not to, and to cause its affiliates not to, sell, offer for sale or solicit offers to buy or otherwise
negotiate in respect of any security (as such term is defined in the Securities Act) which could be integrated with the sale of the Securities in a manner which would require registration of the Securities under the Securities Act; 
  
 (j) except following the effectiveness of the Exchange Offer
Registration Statement or the Shelf Registration Statement, as the case may be, not to, and to cause its affiliates not to, and not to authorize or knowingly permit any person acting on their behalf to, solicit any offer to buy or offer to sell the
Securities by means of any form of general solicitation or general advertising within the meaning of Regulation D or in any manner involving a public offering within the meaning of Section 4(2) of the Securities Act; and not to offer, sell, contract
to sell or otherwise dispose of, directly or indirectly, any securities under circumstances where such offer, sale, contract or disposition would cause the exemption afforded by Section 4(2) of the Securities Act to cease to be applicable to the
offering and sale of the Securities as contemplated by this Agreement and the Offering Memorandum; 
  
 (k) for a period of 45 days from the date of the Offering Memorandum, not to offer for sale, sell, contract to sell or otherwise dispose
of, directly or indirectly, or file a registration statement for, or announce any offer, sale, contract for sale of or other disposition of any debt securities with a maturity greater than one year issued or guaranteed by the Company or any of its
Subsidiaries (other than the Securities, the Exchange Securities or under the Revolving Credit Facilities (as defined in the Offering Memorandum)) without the prior written consent of JPMSI; 
  
 (l) during the period from the Closing Date until two years
after the Closing Date, without the prior written consent of the Initial Purchasers, not to, and not permit any of its affiliates (as defined in Rule 144 under the Securities Act) to, resell any of the Securities that have been reacquired by them,
except for Securities purchased by the Company or any of its affiliates and resold in a transaction registered under the Securities Act; 
  
 (m) not to, for so long as the Securities are outstanding, be or become, or be or become owned by, an open-end investment company, unit
investment trust or face-amount certificate company that is or is required to be registered under Section 8 of the Investment Company Act, and not to be or become, or be or become owned by, a closed-end investment company required to be registered,
but not registered thereunder; 
  

 16 

 (n) in connection with the offering of the Securities, until JPMSI on behalf of the
Initial Purchasers shall have notified the Company of the completion of the resale of the Securities, not to, and to cause its affiliated purchasers (as defined in Regulation M under the Exchange Act) not to, either alone or with one or more other
persons, bid for or purchase, for any account in which it or any of its affiliated purchasers has a beneficial interest, any Securities, or attempt to induce any person to purchase any Securities; and not to, and to cause its affiliated purchasers
not to, make bids or purchase for the purpose of creating actual, or apparent active trading in or of raising the price of the Securities; 
  
 (o) in connection with the offering of the Securities, to make its officers, employees, independent accountants and legal counsel
reasonably available upon request by the Initial Purchasers; 
  
 (p) to do and perform all things required to be done and performed by it under this Agreement that are within its control prior to or after the Closing Date, and to use its reasonable best efforts to satisfy all
conditions precedent on its part to the delivery of the Securities; 
  
 (q) to not take any action prior to the execution and delivery of the Indenture which, if taken after such execution and delivery, would have violated any of the covenants contained in the Indenture; 
  
 (r) to not take any action prior to the Closing Date which
would in the Company’s reasonable judgment require the Offering Memorandum to be amended or supplemented pursuant to Section 4(d); 
  
 (s) prior to the Closing Date, not to issue any press release or other public communication directly or indirectly (including, without
limitation, through a communication on the Company’s website) or hold any press conference with respect to the Company, its condition, financial or otherwise, or earnings, business affairs or business prospects (except for routine oral
marketing communications in the ordinary course of business and consistent with the past practices of the Company and of which the Initial Purchasers are notified), without the prior written consent of the Initial Purchasers, which consent may not
be unreasonably withheld, unless in the judgment of the Company and its counsel, and after notification to the Initial Purchaser, such press release or communication is required by law; and 
  
 (t) to apply the net proceeds from the sale of the
Securities as set forth in the Offering Memorandum under the heading “Use of proceeds.” 
  
 (u) not to take, directly or indirectly, any action designed to or that could reasonably be expected to cause or result in any
stabilization or manipulation of the price of the Securities. 
  
 5. Conditions of Initial Purchasers’ Obligations. The respective obligations of the several Initial Purchasers hereunder are subject to the accuracy, on and as of the date hereof 

  

 17 

 
and the Closing Date, of the representations and warranties of the Company contained herein, to the accuracy of the statements of the Company and its
officers made in any certificates delivered pursuant hereto, to the performance by the Company of its obligations hereunder, and to each of the following additional terms and conditions: 
  
 (a) The Offering Memorandum (and any amendments or supplements thereto) shall have been printed and copies
distributed to the Initial Purchasers as promptly as practicable on or following the date of this Agreement or at such other date and time as to which the Initial Purchasers may agree; and no stop order suspending the sale of the Securities in any
jurisdiction shall have been issued and no proceedings for that purpose shall have been commenced or shall be pending or threatened. 
  
 (b) All requisite corporate, limited liability company and limited partnership proceedings and other legal matters incident to the
authorization, form and validity of each of the Transaction Documents and the Offering Memorandum, and all other legal matters relating to the Transaction Documents and the transactions contemplated thereby, shall be satisfactory in all material
respects to the Initial Purchasers and the Company shall have furnished to the Initial Purchasers all documents and information that they or their counsel may reasonably request to enable them to pass upon such matters. 
  
 (c) McGuireWoods LLP shall have furnished to the Initial
Purchasers their written opinion, as counsel to the Company, addressed to the Initial Purchasers and dated the Closing Date, in form and substance reasonably satisfactory to the Initial Purchasers, substantially to the effect set forth in Annex B
hereto. 
  
 (d) The Initial Purchasers shall have
received from Simpson Thacher & Bartlett, counsel for the Initial Purchasers, such opinion or opinions, dated the Closing Date, with respect to such matters as the Initial Purchasers may reasonably require, and the Company shall have furnished
to such counsel such documents and information as they reasonably request for the purpose of enabling them to pass upon such matters. 
  
 (e) The Company shall have furnished to the Initial Purchasers a letter (the “Initial Letter”) of Ernst & Young,
addressed to the Initial Purchasers and dated the date hereof, in form and substance reasonably satisfactory in all material respects to the Initial Purchasers and counsel for the Initial Purchasers. 
  
 (f) The Company shall have furnished to the Initial
Purchasers a letter (the “Bring-Down Letter”) of Ernst & Young, addressed to the Initial Purchasers and dated the Closing Date (A) confirming that they are independent public accountants with respect to the Company and its
Subsidiaries within the meaning of Rule 101 of the Code of Professional Conduct of the AICPA and its interpretations and rulings thereunder, (B) stating, as of the date of the Bring-Down Letter (or, with respect to matters involving changes or
developments since the respective dates as of which specified financial information is given in the Offering Memorandum, as of a date not more than three business days prior to the date of the Bring-Down Letter), that the conclusions and findings of
such accountants with respect to the financial information and other matters 
  

 18 

 
covered by the Initial Letter are accurate and (C) confirming in all material respects the conclusions and findings set forth in the Initial Letter.

  
 (g) The Company shall have furnished to the
Initial Purchasers a certificate, dated the Closing Date, of its Vice President and Chief Financial Officer and its Controller stating that (A) such officers have carefully examined the Offering Memorandum, (B) in their opinion, the Offering
Memorandum, as of its date, did not include any untrue statement of a material fact and did not omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading, and since the date of the Offering Memorandum, no event has occurred which should have been set forth in a supplement or amendment to the Offering Memorandum (whether through incorporation by reference or
otherwise) so that the Offering Memorandum (as so amended or supplemented) would not include any untrue statement of a material fact and would not omit to state a material fact required to be stated therein or necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading, (C) as of the Closing Date, the representations and warranties of the Company in this Agreement are true and correct in all material respects, (D) the
Company has complied with all agreements and satisfied all conditions on its part to be performed or satisfied hereunder on or prior to the Closing Date, (E) subsequent to the date of the most recent financial statements contained in the Offering
Memorandum, (i) there has been no change in the capital stock or long-term debt of the Company or any of its Subsidiaries, or any dividend or distribution of any kind declared, set aside for payment, paid or made by the Company on any class of
capital stock, or any material adverse change, or any development involving a prospective material adverse change, in or affecting the business, properties, management, financial position, results of operations or prospects of the Company and its
Subsidiaries taken as a whole; (ii) neither the Company nor any of its Subsidiaries has entered into any transaction, incurred any liability or obligation, direct or contingent, where such transaction, liability or obligation is material, either
individually or in the aggregate, to the Company and its Subsidiaries taken as a whole; and (iii) neither the Company nor any of its Subsidiaries has sustained any loss or interference with its business from any labor disturbance or dispute or any
action, order or decree of any court or arbitrator or governmental or regulatory authority, where such occurrence or event is material, either individually or in the aggregate, to the Company and its Subsidiaries taken as a whole, except in each
case as otherwise disclosed in the Preliminary Offering Memorandum and the Offering Memorandum, and (F) subsequent to the execution and delivery of the Purchase Agreement (i) no downgrading has occurred in the rating accorded the Securities or any
of the Company’s other debt securities or preferred stock by any “nationally recognized statistical rating organization”, as such term is defined by the Commission for purposes of Rule 436(g)(2) of the rules and regulations of the
Commission under the Securities Act and (ii) no such organization has publicly announced or notified the Company that it has under surveillance or review, or has changed its outlook with respect to, its rating of the Securities or any of the
Company’s other debt securities or preferred stock (other than an announcement with positive implications of a possible upgrading). 
  

 19 

 (h) The Company shall have furnished to the Initial Purchasers a certificate, dated the
date hereof, of its Vice President and Chief Financial Officer and its Controller, with respect to financial information relating to fiscal years audited by Arthur Andersen, providing “Management Comfort” with respect to such information
to the extent Ernst & Young is unable to provide such comfort, in form and substance reasonably satisfactory to the Initial Purchasers, to the effect set forth in Annex C hereto. 
  
 (i) The Company shall have furnished to the Initial Purchasers a certificate, dated the Closing Date, of its
Chairman and Chief Executive Officer and its Vice President and Chief Financial Officer, in form and substance reasonably satisfactory to the Initial Purchasers, to the effect set forth in Annex D hereto. 
  
 (j) The Initial Purchasers shall have received a counterpart
of the Registration Rights Agreement which shall have been executed and delivered by a duly authorized officer of the Company. 
  
 (k) The Indenture shall have been duly executed and delivered by the Company and the Trustee, and the Securities shall have been duly
executed and delivered by the Company and duly authenticated by the Trustee. 
  
 (l) The Securities shall have been approved by the NASD for trading in the PORTAL Market and shall be eligible for clearance and settlement through DTC. 
  
 (m) If any event shall have occurred that requires the Company under Section 4(d) to prepare an amendment or
supplement to the Offering Memorandum, such amendment or supplement shall have been prepared, the Initial Purchasers shall have been given a reasonable opportunity to comment thereon, and copies thereof shall have been delivered to the Initial
Purchasers reasonably in advance of the Closing Date. 
  
 (n) There shall not have occurred any invalidation of Rule 144A or Regulation S under the Securities Act by any court or any withdrawal or proposed withdrawal of any rule or regulation under the Securities Act or the Exchange Act by the
Commission or any amendment or proposed amendment thereof by the Commission which in the reasonable judgment of the Initial Purchasers would materially impair the ability of the Initial Purchasers to purchase, hold or effect resales of the
Securities contemplated hereby. 
  
 (o)
Subsequent to the execution and delivery of this Agreement or, if earlier, the dates as of which information is given in the Offering Memorandum (exclusive of any amendment or supplement thereto or document incorporated by reference therein), (i)
there shall not have been any change in the capital stock or long-term debt of the Company or any of its Subsidiaries, or any dividend or distribution of any kind declared, set aside for payment, paid or made by the Company on any class of capital
stock, or any material adverse change, or any development involving a prospective material adverse change, in or affecting the business, properties, management, financial position, results of operations or prospects of the Company and its
Subsidiaries taken as a whole; (ii) neither 

  

 20 

 
the Company nor any of its Subsidiaries has entered into any transaction, incurred any liability or obligation, direct or contingent, where such transaction,
liability or obligation is material, either individually or in the aggregate, to the Company and its Subsidiaries taken as a whole; and (iii) neither the Company nor any of its Subsidiaries has sustained any loss or interference with its business
from any labor disturbance or dispute or any action, order or decree of any court or arbitrator or governmental or regulatory authority, where such occurrence or event is material, either individually or in the aggregate, to the Company and its
Subsidiaries taken as a whole, except in each case as otherwise disclosed in the Preliminary Offering Memorandum and the Offering Memorandum, the effect of which, in any such case described above, in the judgment of JPMSI makes it impracticable or
inadvisable to proceed with the offering, sale or delivery of the Securities on the terms and in the manner contemplated by this Agreement and the Offering Memorandum (exclusive of any amendment or supplement thereto or document incorporated by
reference therein). 
  
 (p) No action shall have
been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any governmental agency or body which would, as of the Closing Date, prevent the issuance or sale of the Securities; and no injunction, restraining
order or order of any other nature by any federal or state court of competent jurisdiction shall have been issued as of the Closing Date which would prevent the issuance or sale of the Securities. 
  
 (q) Subsequent to the execution and delivery of this
Agreement (i) no downgrading shall have occurred in the rating accorded the Securities or any of the Company’s other debt securities or preferred stock by any “nationally recognized statistical rating organization”, as such term is
defined by the Commission for purposes of Rule 436(g)(2) of the rules and regulations of the Commission under the Securities Act and (ii) no such organization shall have publicly announced or have notified the Company that it has under surveillance
or review, or has changed its outlook with respect to, its rating of the Securities or any of the Company’s other debt securities or preferred stock (other than an announcement with positive implications of a possible upgrading). 
  
 (r) Subsequent to the execution and delivery of this
Agreement there shall not have occurred any of the following: (i) trading generally shall have been suspended or materially limited on the New York Stock Exchange or the over-the-counter market; (ii) trading of any securities issued by the Company
shall have been suspended on any exchange or in any over-the-counter market; (iii) a general moratorium on commercial banking activities or material disruption of securities clearance or settlement systems shall have been declared by federal or New
York State authorities; or (iv) there shall have occurred any outbreak or escalation of hostilities or any change in financial markets or any calamity or crisis, either within or outside the United States, that, in the judgment of JPMSI, is material
and adverse and makes it impracticable or inadvisable to proceed with the offering, sale or delivery of the Securities on the terms and in the manner contemplated by this Agreement and the Offering Memorandum. 
  

 21 

 (s) The Initial Purchasers shall have received on and as of the Closing Date satisfactory
evidence of the good standing of the Company and its significant subsidiaries, as defined pursuant to Rule 1-02(w) of Regulation S-X, in their respective jurisdictions of organization and their good standing in the other jurisdictions as JPMSI may
reasonably request, in each case in writing or any standard form of telecommunication, from the appropriate governmental authorities of such jurisdictions. 
  
 (t) The Company shall have furnished to the Initial Purchasers a certificate, dated the Closing Date, of its Treasurer, with respect to
the Company’s and its Subsidiaries’ compliance with any term, covenant or condition restricting the extent to which the Company or its Subsidiaries may enter into loan agreements which prohibit the payment of dividends or the making of
loans or transferring of property to the Company or to other Subsidiaries contained in any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument evidencing indebtedness to which the Company or any of its Subsidiaries is
a party or by which the Company or any of its Subsidiaries is bound or to which any of their property or assets is subject, in form and substance reasonably satisfactory to the Initial Purchasers, to the effect set forth in Annex E hereto.

  
 All opinions, letters, evidence and certificates mentioned
above or elsewhere in this Agreement shall be deemed to be in compliance with the provisions hereof only if they are in form and substance reasonably satisfactory to Simpson Thacher & Bartlett. 
  
 6. Termination. The obligations of the Initial Purchasers hereunder
may be terminated by the Initial Purchasers, in their sole absolute discretion, by notice given to and received by the Company prior to delivery of and payment for the Securities if, prior to that time, any of the events described in Section 5(n),
(o), (p), (q) or (r) shall have occurred and be continuing. 
  
 7.
Defaulting Initial Purchaser. (a) If, on the Closing Date, any Initial Purchaser defaults on its obligation to purchase the Securities that it has agreed to purchase hereunder, the non-defaulting Initial Purchasers may in their discretion
arrange for the purchase of such Securities by other persons satisfactory to the Company on the terms contained in this Agreement. If, within 36 hours after any such default by any Initial Purchaser, the non-defaulting Initial Purchasers do not
arrange for the purchase of such Securities, then the Company shall be entitled to a further period of 36 hours within which to procure other persons satisfactory to the non-defaulting Initial Purchasers to purchase such Securities on such terms. If
other persons become obligated or agree to purchase the Securities of a defaulting Initial Purchaser, either the non-defaulting Initial Purchasers or the Company may postpone the Closing Date for up to five full Business Days in order to effect any
changes that in the opinion of counsel for the Company or counsel for the Initial Purchasers may be necessary in the Offering Memorandum or in any other document or arrangement, and the Company agrees to promptly prepare any amendment or supplement
to the Offering Memorandum that effects any such changes. As used in this Agreement, the term “Initial Purchaser” includes, for all purposes of this Agreement unless the context otherwise requires, any person not listed in Schedule
I hereto that, pursuant to this Section 7, purchases Securities that a defaulting Initial Purchaser agreed but failed to purchase. 
  
  

 22 

 (b) If, after giving effect to any arrangements for the purchase of the Securities of a defaulting
Initial Purchaser or Initial Purchasers by the non-defaulting Initial Purchasers and the Company as provided in paragraph (a) above, the aggregate principal amount of such Securities that remains unpurchased does not exceed one-eleventh of the
aggregate principal amount of all the Securities, then the Company shall have the right to require each non-defaulting Initial Purchaser to purchase the principal amount of Securities that such Initial Purchaser agreed to purchase hereunder plus
such Initial Purchaser’s pro rata share (based on the principal amount of Securities that such Initial Purchaser agreed to purchase hereunder) of the Securities of such defaulting Initial Purchaser or Initial Purchasers for which such
arrangements have not been made. 
  
 (c) If, after giving effect
to any arrangements for the purchase of the Securities of a defaulting Initial Purchaser or Initial Purchasers by the non-defaulting Initial Purchasers and the Company as provided in paragraph (a) above, the aggregate principal amount of such
Securities that remains unpurchased exceeds one-eleventh of the aggregate principal amount of all the Securities, or if the Company shall not exercise the right described in paragraph (b) above, then this Agreement shall terminate without liability
on the part of the non-defaulting Initial Purchasers or the Company, except that the Company will continue to be liable for the payment of expenses as set forth in Section 8 and Section 12 hereof and except that the provisions of Section 9 and
Section 10 hereof shall not terminate and shall remain in effect. 
  
 (d) Nothing contained herein shall relieve a defaulting Initial Purchaser of any liability it may have to the Company or any non-defaulting Initial Purchaser for damages caused by its default. 
  
 8. Reimbursement of Initial Purchasers’ Expenses. If (a) this
Agreement shall have been terminated pursuant to Section 6 or Section 7, (b) the Company shall fail to tender the Securities for delivery to the Initial Purchasers for any reason other than by reason of a default by the Initial Purchasers or (c) the
Initial Purchasers shall decline to purchase the Securities for any reason permitted under this Agreement, the Company shall reimburse the Initial Purchasers for such out-of-pocket expenses (including reasonable fees and disbursements of counsel) as
shall have been reasonably incurred by the Initial Purchasers in connection with this Agreement and the proposed purchase and resale of the Securities. 
  
 9. Indemnification. (a) The Company shall indemnify and hold harmless each Initial Purchaser, its affiliates, their respective officers, directors,
employees, representatives and agents, and each person, if any, who controls any Initial Purchaser within the meaning of the Securities Act or the Exchange Act (collectively referred to for purposes of this Section 9(a) and Section 10 as an Initial
Purchaser), from and against any loss, claim, damage or liability, joint or several, or any action in respect thereof (including, without limitation, any loss, claim, damage, liability or action relating to purchases and sales of the Securities), to
which that Initial Purchaser may become subject, whether commenced or threatened, under the Securities Act, the Exchange Act, any other federal or state statutory law or regulation, at common law or otherwise, insofar as such loss, claim, damage,
liability or action arises out of, or is based upon, (i) any untrue statement or alleged untrue statement of a material fact contained in the Preliminary Offering Memorandum or the Offering Memorandum or in any amendment or supplement thereto or in

  

 23 

 
any information provided by the Company pursuant to Section 4(e) or (ii) the omission or alleged omission to state therein a material fact required to be
stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, and shall reimburse each Initial Purchaser promptly upon demand for any legal or other expenses
reasonably incurred by that Initial Purchaser in connection with investigating or defending or preparing to defend against or appearing as a third party witness in connection with any such loss, claim, damage, liability or action as such expenses
are incurred; provided, however, that the Company shall not be liable in any such case to the extent that any such loss, claim, damage, liability or action arises out of, or is based upon, an untrue statement or alleged untrue statement in or
omission or alleged omission from any of such documents in reliance upon and in conformity with any Initial Purchasers’ Information; and provided, further, that with respect to any such untrue statement in or omission from the Preliminary
Offering Memorandum, the indemnity agreement contained in this Section 9(a) shall not inure to the benefit of any such Initial Purchaser to the extent that the sale to the person asserting any such loss, claim, damage, liability or action was an
initial resale by such Initial Purchaser and any such loss, claim, damage, liability or action of or with respect to such Initial Purchaser results from the fact that both (A) to the extent required by applicable law a copy of the Offering
Memorandum was not sent or given to such person at or prior to the written confirmation of the sale of such Securities to such person and (B) the untrue statement in or omission from the Preliminary Offering Memorandum was corrected in the Offering
Memorandum unless, in either case, such failure to deliver the Offering Memorandum was a result of non-compliance by the Company with Section 4(b). 
  
 (b) Each Initial Purchaser shall, severally and not jointly, indemnify and hold harmless the Company and its affiliates, their respective officers,
directors, employees, representatives and agents, and each person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act (collectively referred to for purposes of this Section 9(b) and Section 10 as the
Company), from and against any loss, claim, damage or liability, joint or several, or any action in respect thereof, to which the Company may become subject, whether commenced or threatened, under the Securities Act, the Exchange Act, any other
federal or state statutory law or regulation, at common law or otherwise, insofar as such loss, claim, damage, liability or action arises out of, or is based upon, (i) any untrue statement or alleged untrue statement of a material fact contained in
the Preliminary Offering Memorandum or the Offering Memorandum or in any amendment or supplement thereto or (ii) the omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading, but in each case only to the extent that the untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and
in conformity with any Initial Purchasers’ Information, and shall reimburse the Company promptly upon demand for any legal or other expenses reasonably incurred by the Company in connection with investigating or defending or preparing to defend
against or appearing as a third party witness in connection with any such loss, claim, damage, liability or action as such expenses are incurred. 
  
 (c) Promptly after receipt by an indemnified party under this Section 9 of notice of any claim or the commencement of any action, the indemnified party
shall, if a claim in 
  

 24 

 
respect thereof is to be made against the indemnifying party pursuant to Section 9(a) or 9(b), notify the indemnifying party in writing of the claim or the
commencement of that action; provided, however, that the failure to notify the indemnifying party shall not relieve it from any liability which it may have under this Section 9 except to the extent that it has been materially
prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and, provided, further, that the failure to notify the indemnifying party shall not relieve it from any liability which it may have to an
indemnified party otherwise than under this Section 9. If any such claim or action shall be brought against an indemnified party, and it shall notify the indemnifying party thereof, the indemnifying party shall be entitled to participate therein
and, to the extent that it wishes, jointly with any other similarly notified indemnifying party, to assume the defense thereof with counsel reasonably satisfactory to the indemnified party. After notice from the indemnifying party to the indemnified
party of its election to assume the defense of such claim or action, the indemnifying party shall not be liable to the indemnified party under this Section 9 for any legal or other expenses subsequently incurred by the indemnified party in
connection with the defense thereof other than reasonable costs of investigation; provided, however, that an indemnified party shall have the right to employ its own counsel in any such action, but the fees, expenses and other charges
of such counsel for the indemnified party will be at the expense of such indemnified party unless (1) the employment of counsel by the indemnified party has been authorized in writing by the indemnifying party, (2) the indemnified party has
reasonably concluded (based upon advice of counsel to the indemnified party) that there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, (3) a
conflict or potential conflict exists (based upon advice of counsel to the indemnified party) between the indemnified party and the indemnifying party (in which case the indemnifying party will not have the right to direct the defense of such action
on behalf of the indemnified party) or (4) the indemnifying party has not in fact employed counsel reasonably satisfactory to the indemnified party to assume the defense of such action within a reasonable time after receiving notice of the
commencement of the action, in each of which cases the reasonable fees, disbursements and other charges of counsel will be at the expense of the indemnifying party or parties. It is understood that the indemnifying party or parties shall not, in
connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements and other charges of more than one separate firm of attorneys (in addition to no more than one local counsel in any
jurisdiction) at any one time for all such indemnified party or parties. Each indemnified party, as a condition of the indemnity agreements contained in Sections 9(a) and 9(b), shall use all reasonable efforts to cooperate with the indemnifying
party in the defense of any such action or claim. No indemnifying party shall be liable for any settlement of any such action effected without its written consent (which consent shall not be unreasonably withheld), but if settled with its written
consent or if there be a final judgment for the plaintiff in any such action, the indemnifying party agrees to indemnify and hold harmless any indemnified party from and against any loss or liability by reason of such settlement or judgment. No
indemnifying party shall, without the prior written consent of the indemnified party (which consent shall not be unreasonably withheld), effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or
could have been a party and indemnity could have been sought hereunder by such indemnified party unless such settlement includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such
proceedings. 
  

 25 

 The obligations of the Company and the Initial Purchasers in this Section 9 and in Section 10 are in
addition to any other liability that the Company or the Initial Purchasers, as the case may be, may otherwise have, including in respect of any breaches of representations, warranties and agreements made herein by any such party. 
  
 10. Contribution. If the indemnification provided for in Section 9 is
unavailable or insufficient to hold harmless an indemnified party under Section 9(a) or 9(b), then each indemnifying party shall, in lieu of indemnifying such indemnified party, contribute to the amount paid or payable by such indemnified party as a
result of such loss, claim, damage or liability, or action in respect thereof, (i) in such proportion as shall be appropriate to reflect the relative benefits received by the Company on the one hand and the Initial Purchasers on the other from the
offering of the Securities or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the
relative fault of the Company on the one hand and the Initial Purchasers on the other with respect to the statements or omissions that resulted in such loss, claim, damage or liability, or action in respect thereof, as well as any other relevant
equitable considerations. The relative benefits received by the Company on the one hand and the Initial Purchasers on the other with respect to such offering shall be deemed to be in the same proportion as the total net proceeds from the offering of
the Securities purchased under this Agreement (before deducting expenses) received by or on behalf of the Company, on the one hand, and the total discounts and commissions received by the Initial Purchasers with respect to the Securities purchased
under this Agreement, on the other, bear to the total gross proceeds from the sale of the Securities under this Agreement. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of
a material fact or the omission or alleged omission to state a material fact relates to the Company or information supplied by the Company on the one hand or to any Initial Purchasers’ Information on the other, the intent of the parties and
their relative knowledge, access to information and opportunity to correct or prevent such untrue statement or omissions. The Company and the Initial Purchasers agree that it would not be just and equitable if contributions pursuant to this Section
10 were to be determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to herein. The amount paid or payable by an indemnified party as a result of the loss,
claim, damage or liability, or action in respect thereof, referred to above in this Section 10 shall be deemed to include, for purposes of this Section 10, any legal or other expenses reasonably incurred by such indemnified party in connection with
investigating or defending or preparing to defend any such action or claim. Notwithstanding the provisions of this Section 10, the Initial Purchasers shall not be required to contribute any amount in excess of the amount by which the total discounts
and commissions received by such Initial Purchaser with respect to the Securities purchased by it under this Agreement exceeds the amount of any damages which such Initial Purchaser has otherwise paid or become liable to pay by reason of any untrue
or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. 
  
  

 26 

 11. Persons Entitled to Benefit of Agreement. This Agreement shall inure to the benefit of and be
binding upon the Initial Purchasers, the Company and their respective successors. This Agreement and the terms and provisions hereof are for the sole benefit of only those persons, except as provided in Sections 9 and 10 with respect to affiliates,
officers, directors, employees, representatives, agents and controlling persons of the Company and the Initial Purchasers and in Section 4(e) with respect to holders and prospective purchasers of the Securities. Nothing in this Agreement is intended
or shall be construed to give any person, other than the persons referred to in this Section 11, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision contained herein. 
  
 12. Expenses. Whether or not the transactions contemplated by this
Agreement are consummated or this Agreement is terminated, the Company agrees with the Initial Purchasers to pay (a) the costs incident to the authorization, issuance, sale, preparation and delivery of the Securities and any taxes payable in that
connection; (b) the costs incident to the preparation, printing and distribution of the Preliminary Offering Memorandum, the Offering Memorandum and any amendments or supplements thereto; (c) the costs of reproducing and distributing each of the
Transaction Documents; (d) the costs incident to the preparation, printing and delivery of the certificates evidencing the Securities, including stamp duties and transfer taxes, if any, payable upon issuance of the Securities; (e) the fees and
expenses of the Company’s counsel and independent accountants; (f) the reasonable fees and expenses of qualifying the Securities under the securities laws of the several jurisdictions as provided in Section 4(g) and of preparing, printing and
distributing Blue Sky Memoranda (including related fees and expenses of counsel for the Initial Purchasers); (g) any fees charged by rating agencies for rating the Securities; (h) the fees and expenses of the Trustee and any paying agent (including
related fees and expenses of any counsel to such parties); (i) all expenses and application fees incurred in connection with the application for the inclusion of the Securities on the PORTAL Market and the approval of the Securities for book-entry
transfer by DTC; and (j) all other costs and expenses incident to the performance of the obligations of the Company under this Agreement which are not otherwise specifically provided for in this Section 12; provided, however, that
except as provided in this Section 12 and Section 8, the Initial Purchasers shall pay their own costs and expenses, including the fees, disbursements and expenses of its counsel, its road-show costs and any transfer taxes on the Securities that it
may sell. 
  
 13. Survival. The respective indemnities,
rights of contribution, representations, warranties and agreements of the Company and the Initial Purchasers contained in this Agreement or made by or on behalf of the Company or the Initial Purchasers pursuant to this Agreement or any certificate
delivered pursuant hereto shall survive the delivery of and payment for the Securities and shall remain in full force and effect, regardless of any termination or cancellation of this Agreement or any investigation made by or on behalf of any of
them or any of their respective affiliates, officers, directors, employees, representatives, agents or controlling persons. 
  
 14. Notices, etc. All statements, requests, notices and agreements hereunder shall be in writing, and: 
  

 27 

 (a) if to the Initial Purchasers, shall be delivered or sent by mail or telecopy
transmission to J. P. Morgan Securities Inc., 270 Park Avenue, New York, New York 10017, Attention: Mr. Gerry Murray (telecopier no.: (212) 270-0994); or 
  
 (b) if to the Company, shall be delivered or sent by mail or telecopy transmission to the address of the Company set forth in the Offering
Memorandum, Attention: Mr. Daniel G. Stevens, Vice President and Chief Financial Officer (telecopier no.: (757) 365-3025), with a copy to Jane Whitt Sellers., Esq., McGuireWoods LLP (telecopier no.: (804) 698-2170); 
  
 provided that any notice to an Initial Purchaser pursuant to Section 9(c) shall also
be delivered or sent by mail to such Initial Purchaser at its address set forth on the signature page hereof. Any such statements, requests, notices or agreements shall take effect at the time of receipt thereof. The Company shall be entitled to act
and rely upon any request, consent, notice or agreement given or made on behalf of the Initial Purchasers by JPMSI. 
  
 15. Definition of Terms. For purposes of this Agreement, (a) the term “business day” means any day on which the New York Stock Exchange,
Inc. and commercial banks in New York, New York and Richmond, Virginia are open for trading or business, (b) the term “subsidiary” has the meaning set forth in Rule 405 under the Securities Act and (c) except where otherwise expressly
provided, the term “affiliate” has the meaning set forth in Rule 405 under the Securities Act. 
  
 16. Initial Purchasers’ Information. The parties hereto acknowledge and agree that, for all purposes of this Agreement, the Initial
Purchasers’ Information consists solely of the following information in the Preliminary Offering Memorandum and the Offering Memorandum: the statements concerning the Initial Purchasers contained in the third and eleventh paragraphs, and the
fifth and sixth sentences of the ninth paragraph under the heading “Plan of distribution,” the fifth and sixth sentences of the first paragraph under the heading “Summary—The offering—Transfer restrictions,” the second
and third sentences of the second paragraph under the heading “Risk factors—The lack of a public market for the notes and restrictions on resale of the notes may limit the liquidity of the notes,” and, with respect to each Initial
Purchaser, such Initial Purchaser’s name at it appears on the cover. 
  
 17. Governing Law. This Agreement shall be governed by and construed in accordance with, the laws of the State of New York. 
  
 18. Counterparts. This Agreement may be executed in one or more counterparts (which may include counterparts
delivered by telecopier) and, if executed in more than one counterpart, the executed agreement, counterparts shall each be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. 
  
 19. Amendments. No amendment or waiver of any provision of this
Agreement, nor any consent or approval to any departure therefrom, shall in any event be effective unless the same shall be in writing and signed by the parties hereto (it being understood that the successful delivery of and payment for the
Securities shall constitute an effective waiver of any outstanding 

  

 28 

 
pre-closing condition contained in Section 5 hereof, known to the Initial Purchasers on the Closing Date). 
  
 20. Headings. The headings herein are inserted for convenience of
reference only and are not intended to be part of, or to affect the meaning or interpretation of, this Agreement. 
  
  

 29 

 If the foregoing is in accordance with your understanding of our agreement, kindly sign and return to us
a counterpart hereof, whereupon this instrument will become a binding agreement between the Company and the several Initial Purchasers in accordance with its terms. 
  
  
  

	Very truly yours,
	SMITHFIELD FOODS, INC.
		
	 By
	 	  

	 	 	 Name:

	 	 	 Title:

  
 Accepted: 
  
 J.P. MORGAN SECURITIES INC. 
 GOLDMAN, SACHS & CO. 
 RABO SECURITIES USA, INC. 
 SUNTRUST CAPITAL MARKETS INC. 
 BMO NESBIT BURNS CORP. 
 ING FINANCIAL MARKETS LLC 
 BNP PARIBAS SECURITIES CORP. 
  
 By: J.P. MORGAN SECURITIES INC. 
  

	 By
	 	  

	 	 	 Authorized Signatory

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