Document:

2009 Stock Incentive Plan

 Exhibit 10(iii)-4 
 CNB FINANCIAL CORPORATION 
 2009 STOCK INCENTIVE PLAN* 
 Section 1. Purpose. The purpose of this Plan is to advance the interests of CNB Financial Corporation and its shareholders
by providing incentives to certain Eligible Persons who contribute significantly to the strategic and long-term performance objectives and growth of the Company. 
 Section 2. Definitions. Certain capitalized terms applicable to this Plan are set forth in Appendix A. 
 Section 3. Administration. This Plan shall be administered by the Committee. The Committee shall have all the powers vested in it by the terms of this Plan, such powers to include the
exclusive authority to select the Eligible Persons to be granted Awards under this Plan, to determine the type, size, terms and conditions of the Award to be made to each Eligible Person selected, to modify or waive (subject to the provisions of
Section 10 hereof) the terms and conditions of any Award that has been granted, to determine the time when Awards will be granted, to establish performance objectives, and to prescribe the form of the agreements evidencing Awards made under
this Plan. Awards may, in the sole discretion of the Committee, be made under this Plan in assumption of, or in substitution for, outstanding Awards previously granted by (i) the Company, (ii) any predecessor of the Company or (iii) a
company acquired by the Company or with which the Company combines. The number of Common Shares underlying such substitute Awards shall be counted against the aggregate number of Common Shares available for Awards under this Plan. 
 The Committee is authorized to interpret this Plan and the Awards granted under this Plan, to establish, amend and rescind any rules and regulations
relating to this Plan and to make any other determinations that it deems necessary or desirable for the administration of this Plan. The Committee may correct any defect or omission or reconcile any inconsistency in this Plan or in any Award in the
manner and to the extent the Committee deems necessary or desirable to carry it into effect. Any decision of the Committee in the interpretation and administration of this Plan, as described in this Plan, shall lie within its sole and absolute
discretion and shall be final, conclusive and binding on all parties concerned (including, but not limited to, Participants and their Permitted Transferees). The Committee may act only by a majority of its members in office, except that the
members thereof may authorize any one or more of their members or any officer of the Company to execute and deliver documents or to take any other ministerial action on behalf of the Committee with respect to Awards made or to be made to
Participants. 
 No member of the Committee and no officer of the Company shall be liable for anything done or omitted to be done by such
member or officer, by any other member of the Committee or by any other officer of the Company in connection with the performance of duties under this Plan, except for his or her own willful misconduct or as expressly provided by statute.

  

	*	As approved by the shareholders on April 21, 2009. 

 Section 4. Participation. Consistent with the purposes of this Plan, the
Committee shall have exclusive power to select the Eligible Persons who may participate in this Plan and be granted Awards under this Plan. Eligible Persons may be selected individually or by groups or categories, as determined by the Committee, in
its sole discretion. 
 Section 5. Awards under this Plan. 
 (a) Types of Awards. Awards under this Plan include (i) Stock Options and (ii) awards of Common Shares. 
 (b) Maximum Number of Common Shares that May be Issued. The maximum aggregate number of Common Shares available for issuance under Awards
granted under this Plan shall be 500,000. The aggregate number of Common Shares available for issuance under the Plan shall be reduced by one (1) Common Share for each Common Share issued in settlement of an Award. No Eligible Person may
receive Stock Options under this Plan for more than 10,000 Common Shares in any fiscal year of CNB. No more than 75,000 Common Shares in the aggregate may be awarded under this Plan in any fiscal year of CNB, and no Eligible Person may be awarded
more than 10,000 Common Shares under this Plan in any fiscal year of CNB. The foregoing limitations shall be subject to adjustment as provided in Section 11 hereof, but only to the extent that any such adjustment will not affect the status of:
(i) any Award intended to qualify as performance-based compensation under Section 162(m) of the Code or, (ii) any Award intended to comply with, or qualify for an exception to, Section 409A of the Code. Common Shares issued
pursuant to this Plan may be either authorized but unissued shares, treasury shares, reacquired shares or any combination thereof. If any Common Shares issued pursuant to an Award are forfeited or cancelled, then such Common Shares that are
forfeited or cancelled shall be or become available for issuance under this Plan. Common Shares (i) delivered in payment of the exercise price of a Stock Option, or (ii) delivered to or withheld by the Company to pay withholding taxes
shall not become available for issuance under the Plan. 
 (c) Rights with Respect to Common Shares and Other Securities. Except as
provided in subsection 7(c) hereof with respect to Awards of Restricted Stock and unless otherwise determined by the Committee, in its sole discretion, a Participant to whom an Award is made (and any Person succeeding to such a Participant’s
rights pursuant to this Plan) shall have no rights as a shareholder with respect to any Common Shares or as a holder with respect to other securities, if any, issuable pursuant to any such Award until the date a stock certificate evidencing such
Common Shares or other evidence of ownership is issued to such Participant or until the Participant’s ownership of such Common Shares shall have been entered into the books of the registrar in the case of uncertificated shares. 
 Section 6. Stock Options. The Committee may grant only Nonqualified Stock Options. Each Stock Option granted under this
Plan shall be evidenced by an agreement in such form as the Committee shall prescribe, from time to time, in accordance with this Plan and shall comply with the applicable terms and conditions of this section and this Plan and with such other terms
and conditions, including, but not limited to, restrictions upon the Stock Option or the Common Shares issuable upon exercise thereof, as the Committee, in its sole discretion, shall establish. 
  

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 (a) The exercise price of a Stock Option shall not be less than the Fair Market Value of the Common
Shares subject to such Stock Option on the date of grant of the Stock Option, as determined by the Committee. Unless otherwise determined by the Committee in the documentation evidencing its approval action, the exercise price of a Stock Option
shall be equal to 100% of the Fair Market Value of the Common Shares subject to such Stock Option on the date of grant of such Stock Option. 
 (b) On or before the date of grant of the Stock Option, the Committee shall determine the number of Common Shares to be subject to each Stock Option and shall identify the name of the Eligible Person to receive such Stock Option.

 (c) Any Stock Option may be exercised during its term only at such time or times and in such installments as the Committee may establish.

 (d) A Stock Option shall not be exercisable: 
 (i) after the expiration of ten (10) years from the date it is granted; and 
 (ii)
unless payment in full is made for the shares being acquired under such Stock Option at the time of exercise as provided in subsection 6(f) hereof. 
 (e) It is the intent of CNB that all Stock Options granted under this Plan be classified as Nonqualified Stock Options and that any ambiguities in construction shall be interpreted in order to effectuate such intent.

 (f) For purposes of payments made to exercise Stock Options, such payment shall be made in such form (including, but not limited to, cash,
Common Shares, the surrender of another outstanding Award under this Plan, broker-assisted cashless exercise or any combination thereof) as the Committee may determine, in its sole discretion. Stock Options granted under this Plan shall be exercised
by the Participant as to all or part of the Common Shares covered thereby by the giving of written notice of the exercise thereof to the Company at the principal business office of the Company, specifying the number of Common Shares to be purchased
and specifying a business day not more than fifteen (15) days from the date such notice is given for the payment of the purchase price against delivery of the Common Shares being purchased. 
 Section 7. Awards of Common Shares. The Committee may grant Awards of Common Shares. Each such Award under this Plan shall
be evidenced by an agreement in such form as the Committee shall prescribe, from time to time, in accordance with this Plan and shall comply with the applicable terms and conditions of this section and this Plan and with such other terms and
conditions as the Committee, in its sole discretion, shall establish. 
 (a) The Committee shall determine the number of Common Shares to be
issued to a Participant pursuant to the Award and the extent, if any, to which they shall be issued in exchange for cash, other consideration or both; provided that any consideration for the Award shall not exceed the aggregate Fair Market Value of
the Common Shares awarded. The Committee may provide in the agreement a vesting schedule, which shall specify when the Award shall become vested, and may provide for the acceleration of the vesting schedule if the Committee determines that it is in
the best interests of the Company and Participant to do so. 

  

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Notwithstanding any such vesting schedule, or any determination made by the Committee, no Award will vest if to do so would create a situation that would
result in an “excess parachute payment” within the meaning of Section 280G. 
 (b) Until the expiration of such period,
if any. as the Committee shall determine from the date on which the Award is granted and subject to such other terms and conditions as the Committee, in its sole discretion, shall establish (the “Restricted Period”), a
Participant to whom an Award of Restricted Stock is made shall be issued, but shall not be entitled to the delivery of, a stock certificate or other evidence of ownership representing the Common Shares subject to such Award. The standard vesting
schedule applicable to Awards of Restricted Stock shall provide for vesting of such Awards, in one or more increments, over a service period of not less than three (3) years; provided, however, that this limitation shall
not (i) apply to Awards for Restricted Stock under this Section 7 for up to an aggregate of 10% of the maximum number of Common Shares that may be issued under this Plan or (ii) adversely affect a Participant’s rights under
another plan or agreement with the Company. 
 (c) Unless otherwise determined by the Committee, in its sole discretion, a Participant
to whom an Award of Restricted Stock has been made (and any Person succeeding to such Participant’s rights pursuant to this Plan) shall have, after issuance of a certificate for the number of Common Shares awarded (or after the
Participant’s ownership of such Common Shares shall have been entered into the books of the registrar in the case of uncertificated shares) and prior to the expiration of the Restricted Period, ownership of such Common Shares, including the
right to vote such Common Shares and to receive dividends or other distributions made or paid with respect to such Common Shares (provided, that such Common Shares, and any new, additional or different shares, or Other CNB Securities or
property or other forms of consideration that the Participant may be entitled to receive with respect to such Common Shares as a result of a stock split, stock dividend or any other change in the capital structure of CNB shall be subject to the
restrictions set forth in this Plan as determined by the Committee, in its sole discretion) subject, however, to the restrictions and limitations imposed thereon pursuant to this Plan. 
 Section 8. Termination of Employment. Upon termination of employment of any employee with the Company, or cessation of a
director’s service on the Board, an Award previously granted to the employee or director, as the case may be, unless otherwise specified by the Committee in the agreement evidencing such Award and, to the extent not inconsistent with
Section 13 or 14 hereof, shall, to the extent not theretofore exercised with respect to any Stock Options, or to the extent that any of the designated goals (including any service period) have not been achieved within the designated period
prior to the lapse of any restrictions or vesting of any other Award, such Award shall become null and void and shall be forfeited as of the last day of the month after such termination or cessation, provided, that: 
 (a) if the employee or director shall die while in the employ of the Company or while serving on the Board and at a time when such employee or director
was entitled to exercise such Stock Option as herein provided, the legal representative of such employee or director, or such person who acquired such Award by bequest or inheritance or by reason of the death of the employee or director, may, not
later than the last day of the 12th month following the month of death, exercise such Award, to the extent not theretofore exercised, as specified by the Committee in the agreement evidencing such Award; 
  

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 (b) if the employment of an employee or the service of a director to whom a Stock Option shall have been
granted shall terminate by reason of the employee’s or director’s retirement (at such age or upon such conditions as shall be specified by the Board), or disability (as described in Section 22(e)(3) of the Code) and while such
employee or director is entitled to exercise such Stock Option as herein provided, such employee or director shall have the right to exercise such Stock Option so granted, to the extent not theretofore exercised, in respect of any or all of such
number of Common Shares as specified by the Committee in such Stock Option at any time up to and including the last day of the 36th month after the month of retirement or disability; 
 (c) if an employee voluntarily terminates his or her employment or is discharged for cause, or if a director is discharged for cause, any Award granted
hereunder shall, unless otherwise specified by the Committee in the agreement evidencing such Award, forthwith terminate and be forfeited with respect to any unexercised (with respect to options) or unvested (with respect to stock awards) portion
thereof; if a director voluntarily terminates his or her service on the Board, his or her option shall terminate on the last day of the 12th month after the month he or she ceases to be a director; 
 (d) if an optionee ceases to be a director or an employee within 24 months following a change-in-control as defined in Section 10 (other than an
employee’s termination for cause), his or her option shall terminate on the last day of the 12th month after the month the optionee ceases to be an employee or director. 
 Notwithstanding a vesting schedule or any of the foregoing, in the case of an optionee who is an employee, all options and shares of Common Stock issued
to the holder under the Plan shall be forfeited if the Company in its sole discretion determines that the optionee has, at any time during the earlier of the Expiration Date or the last day of the 12-month period following termination of employment,
violated the terms of any agreement with the Company or a subsidiary regarding (i) engaging in a business that competes with the business of the Company or any subsidiary, (ii) interfering in any material respect with any contractual or
business relationship of the Company or any subsidiary, or (iii) soliciting the employment of any person who was, during such period, a director, officer, partner, employee, agent or consultant of the Company or a subsidiary. 
 If a Stock Option granted hereunder shall be exercised by the legal representative of a deceased or disabled employee or director or former employee or
director, or by a person who acquired a Stock Option granted hereunder by bequest or inheritance or by reason of death of any employee or director or former employee or director, written notice of such exercise shall be accompanied by a certified
copy of letters testamentary or equivalent proof of the right of such legal representative or other person to exercise such Stock Option. 
 For purposes of this Plan, the term “for cause” shall mean (i) with respect to an employee or director who is party to a written agreement with, or, alternatively, participates in a compensation or benefit plan of the
Company, which agreement or plan contains a definition of 

  

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“for cause” or “cause” (or words of like import) for purposes of termination of employment or service as a director thereunder by the
Company, “for cause” or “cause” as defined in the most recent of such agreements or plans or (ii) in all other cases, (a) the willful commission by an employee or director of a criminal or other act that causes
substantial economic damage to the Company or substantial injury to the business reputation of the Company; (b) the commission by an employee or director of an act of fraud in the performance of such employee’s or director’s duties on
behalf of the Company or (c) the continuing willful failure of an employee or director to perform the duties of such employee or director to the Company (other than such failure resulting from the employee’s or director’s incapacity
due to physical or mental illness) after written notice thereof (specifying the particulars thereof in reasonable detail) and a reasonable opportunity to be heard and cure such failure are given to the employee or director by the Board or the
Committee. For purposes of this Plan, no act or failure to act on the employee’s or director’s part shall be considered “willful” unless done or omitted to be done by the employee or director not in good faith and without
reasonable belief that the employee’s or director’s action or omission was in the best interests of the Company. 
 For purposes of
this Plan, an employment relationship shall be deemed to exist between an individual and a corporation if, at the time of the determination, the individual was an “employee” of such corporation for purposes of Section 422(a) of the
Code. If an individual is on military, sick leave or other bona fide leave of absence, such individual shall be considered an “employee” for purposes of the exercise of a Stock Option and shall be entitled to exercise such a Stock Option
during such leave if the period of such leave does not exceed ninety (90) days, or, if longer, so long as the individual’s right to reemployment with the corporation granting the option (or a related corporation) is guaranteed either by
statute or by contract. If the period of leave exceeds ninety (90) days, the employment relationship shall be deemed to have terminated on the ninety-first (91st) day of such leave, unless the individual’s right to reemployment is
guaranteed by statute or contract. 
 A termination of employment shall not be deemed to occur by reason of (i) the transfer of an
employee from employment by CNB to employment by a subsidiary corporation or a parent corporation of CNB or (ii) the transfer of an employee from employment by a subsidiary corporation or a parent corporation of CNB to employment by CNB or by
another subsidiary corporation or parent corporation of CNB. Furthermore, solely for purposes of determining the rights and obligations under any outstanding Awards theretofore granted, in the event that CNB ceases to own, directly or indirectly,
stock possessing 50% or more of the total combined voting power of all classes of stock of a subsidiary company by virtue of a recapitalization, stock dividend, stock split, split-up, spin-off, combination of shares or other like change in capital
structure of CNB, the Committee may determine that employment by such former subsidiary (or any parent or subsidiary company of such subsidiary) shall continue to be deemed to be employment by the Company for purposes of this Plan. 
 In the event of the complete liquidation or dissolution of a subsidiary corporation, or in the event that CNB ceases to own, directly or indirectly,
stock possessing 50% or more of the total combined voting power of all classes of stock of such corporation (except as provided in the preceding paragraph), any unexercised Stock Option, any unvested Award and any Award for which restrictions have
not lapsed theretofore granted to any person employed by such 

  

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subsidiary corporation will be deemed canceled and forfeited unless such person is employed by CNB or by any parent corporation or subsidiary corporation of
CNB after the occurrence of such event. In the event a Stock Option is to be canceled pursuant to the provisions of the previous sentence, notice of such cancellation will be given to each employee holding such unexercised Stock Option and such
holder will have the right to exercise such Stock Option in full during the thirty (30) day period following notice of such cancellation. 
 Notwithstanding anything to the contrary contained in this Section 8 hereof, in no event shall any person be entitled to exercise any Stock Option after the expiration of the period of exercisability of such Stock Option as specified
therein. 
 Section 9. Transferability of Awards. A Participant’s rights and interest under this Plan or
any Award may not be assigned or transferred, hypothecated or encumbered, in whole or in part, either directly or by operation of law or otherwise, including, but not by way of limitation, by execution, levy, garnishment, attachment, pledge,
bankruptcy or in any other manner; provided, however, the Committee may permit such transfer to a Permitted Transferee. 
 Section 10. Amendment or Substitution of Awards under this Plan; Change in Control. The terms of any outstanding Award under this Plan may be amended or modified from time to time by the Committee, in its sole
discretion, in any manner that it deems appropriate (including, but not limited to, acceleration of the date of exercise of any Award or the payment under any Award) if the Committee could grant such amended or modified Award under the terms of this
Plan at the time of such amendment or modification; provided, that no such amendment or modification shall: (i) accelerate the vesting or exercisability of any Award, other than in connection with a Participant’s death, disability
(as described in Section 22(e)(3) of the Code), retirement (at such age or upon such conditions as shall be specified by the Board) or a change-in-control or other transaction contemplated by this Section 10 or (ii) adversely affect
in a material manner any right of a Participant under the Award without his or her written consent. Notwithstanding the foregoing or any provision of an Award to the contrary, the Committee may at any time (without the consent of any Participant)
modify, amend or terminate any or all of the provisions of an Award to the extent necessary to conform the provisions of the Award with Section 162(m), Section 409A or any other provision of the Code or other applicable law, the Treasury
Regulations issued thereunder or an exception thereto, regardless of whether such modification, amendment or termination of the Award shall adversely affect the rights of a Participant. The Committee may, in its sole discretion and, to the extent
not inconsistent with Section 13 hereof, permit holders of Awards under this Plan to surrender outstanding Awards in order to exercise or realize the rights under other Awards, or in exchange for the grant of new Awards, or require holders of
Awards to surrender outstanding Awards as a condition precedent to the grant of new Awards under this Plan. 
 Notwithstanding any provision
of this Plan to the contrary, except in the event of a “change-in-control” or a dividend (other than a regular cash dividend) or other distribution (whether in the form of cash, Common Shares, Other CNB Securities or other property),
recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or exchange of Common Shares or Other CNB Securities, issuance of warrants or other rights to purchase Common
Shares or Other CNB Securities or other similar corporate transaction or event that affects the Common Shares such that an 

  

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adjustment is necessary in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under this Plan, the
terms of outstanding Awards may not be amended to reduce the exercise price of outstanding Stock Options or cancel or surrender outstanding Stock Options in exchange for cash, other Awards or Stock Options with an exercise price that is less than
the exercise price of the original Stock Options without shareholder approval. 
 In the event of a “change-in-control” of CNB and
to the extent not inconsistent with Section 13 hereof, all then outstanding Awards shall immediately become exercisable and shall vest and all restrictions shall lapse. For purposes of this Plan, a “change-in-control” of the Company
occurs if: (i) any “Person” (as such term is used in Sections 13(d) and 14(d)(2) of the Exchange Act) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of
securities of the Company representing (a) 50% or more of the combined voting power of the Company’s then-outstanding securities or (b) 25% or more but less than 50% of the combined voting power of the Company’s then-outstanding
securities if such transaction(s) giving rise to such beneficial ownership are not approved by the Board, (ii) at any time a majority of the members of the Board consists of individuals other than individuals who were nominated by members of
the Board or (iii) the Board shall approve a sale of all or substantially all of the assets of the Company or any merger, consolidation, issuance of securities or purchase of assets, the result of which would be the occurrence of any event
described in clause (i) or (ii) above. Notwithstanding the foregoing or any provision of this Plan to the contrary, if an Award is subject to Section 409A (and not excepted therefrom) and a change-in-control is a distribution event
for purposes of an Award, the foregoing definition of change-in-control shall be interpreted, administered and construed in a manner necessary to ensure that the occurrence of any such event shall result in a change-in-control only if such event
qualifies as a change in the ownership or effective control of a corporation, or a change in the ownership of a substantial portion of the assets of a corporation, as applicable, within the meaning of Treas. Reg. §1.409A-3(i)(5). 
 The Committee, in its sole discretion and to the extent not inconsistent with Section 13 hereof, may determine that, upon the occurrence of a
transaction described in the preceding paragraph, that each Award outstanding hereunder shall terminate within a specified number of days after notice to the holder, and such holder shall receive, with respect to each such Award, cash in an amount
equal to the fair market value of such Award (if any) as determined by the Committee, in its sole discretion. 
 Section 11.
Dilution and Other Adjustments. In the event a dividend (other than a regular cash dividend) or other distribution (whether in the form of cash, Common Shares, Other CNB Securities or other property), recapitalization, stock
split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or exchange of Common Shares or Other CNB Securities, issuance of warrants or other rights to purchase Common Shares or Other CNB
Securities or other similar corporate transaction or event affects the Common Shares such that an adjustment is necessary in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under this
Plan, then the Committee shall, in an equitable manner, (i) adjust any or all of (a) the aggregate maximum number of Common Shares or Other CNB Securities (or number and kind of other securities or property) with respect to which Awards
may be granted under this Plan pursuant to 

  

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Section 5(b) hereof, (b) the individual maximum number of Common Shares that may be granted as Stock Options to a Participant pursuant to
Section 5(b) of this Plan, (c) the number of Common Shares or Other CNB Securities (or number and kind of other securities or property) subject to outstanding Awards and (d) the grant or exercise price with respect to any outstanding
Award, (ii) if deemed appropriate, provide for an equivalent Award or substitute Award in respect of securities of the surviving entity of any merger, consolidation or other transaction or event having a similar effect or (iii) if deemed
appropriate, make provision for a cash payment to the holder of an outstanding Award; provided, that, in each case, any such adjustment shall be performed in accordance with the applicable provisions of the Code and the Treasury Regulations
issued thereunder so as to not affect the status of: (A) any Award intended to qualify as performance-based compensation under Section 162(m) of the Code or (B) any Award intended to comply with, or qualify for an exception to,
Section 409A of the Code. Unless otherwise provided by the Committee, all outstanding Awards shall terminate immediately prior to the consummation of any dissolution or liquidation of the Company. Any such termination or adjustment made by the
Committee will be final, conclusive and binding for all purposes of this Plan. 
 Section 12. Time of Granting of an
Award. The date of grant of an Award shall, for all purposes, be the date on which the Committee approves such Award, or such other later date as determined by the Committee at the time of such approval. Notice of the approval
shall be given to each Participant to whom an Award is granted within a reasonable time after the date of the grant. 
 Section 13. Section 409A. Notwithstanding any provision of the Plan or an Award agreement to the contrary, if any Award or benefit provided under this Plan is subject to the provisions of Section 409A,
the provisions of the Plan and any applicable Award agreement shall be administered, interpreted and construed in a manner necessary to comply with Section 409A or an exception thereto (or disregarded to the extent such provision cannot be so
administered, interpreted or construed), and the following provisions shall apply, as applicable: 
 (a) If a Participant is a Specified
Employee and a payment subject to Section 409A (and not excepted therefrom) to the Participant is due upon Separation from Service, such payment shall be delayed for a period of six (6) months after the date of the Participant’s
Separation from Service (or, if earlier, the death of the Participant). Any payment that would otherwise have been due or owing during such six-month period will be paid immediately following the end of the six-month period in the month following
the month containing the 6-month anniversary of the date of termination unless another compliant date is specified in the applicable Award agreement. 
 (b) For purposes of Section 409A, and to the extent applicable to any Award or benefit under the Plan, it is intended that distribution events qualify as permissible distribution events for purposes of
Section 409A and shall be interpreted and construed accordingly. With respect to payments subject to Section 409A, the Company reserves the right to accelerate and/or defer any payment to the extent permitted and consistent with
Section 409A. Whether and when a Separation from Service or termination of employment of a Participant has occurred will be determined based on all of the facts and circumstances and, to the extent applicable to any Award or benefit, in
accordance with the guidance issued under Section 409A. For this purpose, 

  

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a Participant will be presumed to have experienced a Separation from Service when the level of bona fide services performed permanently decreases to a
level less than twenty percent (20%) of the average level of bona fide services performed during the immediately preceding thirty-six (36) month period or such other applicable period as provided by Section 409A. 
 (c) The Committee, in its discretion, may specify the conditions under which the payment of all or any portion of any Award may be deferred until a later
date. Deferrals shall be for such periods or until the occurrence of such events, and upon such terms and conditions, as the Committee shall determine in its discretion, in accordance with the provisions of Section 409A; provided,
however, that no deferral shall be permitted with respect to options and other stock rights subject to Section 409A. An election shall be made by filing an election with the Company (on a form provided by the Company) on or prior to
December 31st of the calendar year immediately preceding the beginning of the calendar year (or other applicable service period) to which such election relates (or at such other date as may be specified by the Committee to the extent consistent
with Section 409A) and shall be irrevocable for such applicable calendar year (or other applicable service period). 
 (d) The grant of
stock rights subject to Section 409A shall be granted under terms and conditions consistent with Treas. Reg. §1.409A-1(b)(5) such that any such Award does not constitute a deferral of compensation under Section 409A. Accordingly, any
such Award may be granted to Eligible Persons of the Company in which CNB has a controlling interest. In determining whether CNB has a controlling interest, the rules of Treas. Reg. §1.414(c)-2(b)(2)(i) shall apply; provided, that the
language “at least 50 percent” shall be used instead of “at least 80 percent” in each place it appears; provided, further, where legitimate business reasons exist (within the meaning of Treas. Reg.
§1.409A-1(b)(5)(iii)(E)(i)), the language “at least 20 percent” shall be used instead of “at least 80 percent” in each place it appears. The rules of Treas. Reg. §§1.414(c)-3 and 1.414(c)-4 shall apply for purposes
of determining ownership interests. 
 (e) In no event shall any member of the Board, the Committee or the Company (or its employees,
officers or directors) have any liability to any Participant or any other Person due to the failure of an Award to satisfy the requirements of Section 409A. 
 Section 14. Section 280G. 
 (a) The provisions of this Section 14 shall apply
notwithstanding anything in this Plan to the contrary. In the event that it shall be determined that any payment or distribution to or for the benefit of the Participant, whether paid or payable or distributed or distributable pursuant to the terms
of this Plan or otherwise (a “Payment”), would constitute an “excess parachute payment” within the meaning of Section 280G of the Code, the Company and its Affiliates will apply a limitation on the Payment amount as
specified in Section 14(b). 
 (b) The aggregate present value of the Payments under this Plan (“Plan Payments”) shall be
reduced (but not below zero) to the Reduced Amount. The “Reduced Amount” shall be an amount expressed in present value which maximizes the aggregate present value of Plan Payments without causing any Payment to be subject to the limitation
of deduction under Section 280G of the Code. For purposes of this Section 14, “present value” shall be determined in accordance with Section 280G(d)(4) of the Code. 
  

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 (c) All determinations to be made under this Section 14 shall be made by the nationally recognized
independent public accounting firm used by the Company immediately prior to a change-in-control, which accounting firm shall provide its determinations and any supporting calculations to the Company and the Participant within ten (10) days of
the Participant’s date of termination; provided, however, that, in the event that accounting firm will not or cannot make such a determination, the Company shall select another appropriate firm to make such determination. 
 (d) All of the fees and expenses of the accounting firm in performing the determinations referred to in this Section 14 shall be borne solely by the
Company and its Affiliates. 
 Section 15. Miscellaneous Provisions. 
 (a) Any proceeds from Awards shall constitute general funds of the Company. 
 (b) No fractional shares may be delivered under an Award, but in lieu thereof, a cash or other adjustment may be made as determined by the Committee, in
its sole discretion. 
 (c) No Eligible Person or other Person shall have any claim or right to be granted an Award under this Plan.
Determinations made by the Committee under this Plan need not be uniform and may be made selectively among Eligible Persons under this Plan, whether or not such Eligible Persons are similarly situated. Neither this Plan nor any action taken under
this Plan shall be construed as giving any Eligible Person any right to continue to be employed by or perform services for the Company, and the right to terminate the employment of or performance of services by Eligible Persons at any time and for
any reason is specifically reserved by the Company. 
 (d) No Participant or other Person shall have any right with respect to this Plan, the
Common Shares reserved for issuance under this Plan or in any Award, contingent or otherwise, until written evidence of the Award shall have been delivered to the Participant and all of the terms, conditions and provisions of this Plan and the Award
applicable to such Participant (and each Person claiming under or through him or her) have been met. 
 (e) Notwithstanding anything to the
contrary contained in this Plan or in any Award agreement, each Award shall be subject to the requirement, if at any time the Committee shall determine, in its sole discretion, that such requirement shall apply, that the listing, registration or
qualification of any Award under this Plan, or of the Common Shares, Other CNB Securities or property or other forms of payment issuable pursuant to any Award under this Plan, on any stock exchange or other market quotation system or under any
federal or state law, or the consent or approval of any government regulatory body, is necessary or desirable as a condition of, or in connection with, the granting of such Award or the exercise or settlement thereof, such Award shall not be
granted, exercised or settled in whole or in part until such listing, registration, qualification, consent or approval shall have been effected, obtained and maintained free of any conditions not acceptable to the Committee. Notwithstanding anything
to the contrary contained in this Plan or in any Award agreement, no Common Shares, Other CNB Securities or property or other forms of payment shall be issued under this Plan with respect to any Award unless the 

  

 11 

 
Committee shall be satisfied that such issuance will be in compliance with applicable law and any applicable rules of any stock exchange or other market
quotation system on which such Common Shares are listed. If the Committee determines that the exercise of any Stock Option would fail to comply with any applicable law or any applicable rules of any stock exchange or other market quotation system on
which Common Shares are listed, the Participant holding such Stock Option shall have no right to exercise it until such time as the Committee shall have determined that such exercise will not violate any applicable law or any such applicable rule,
provided that the Stock Option shall not have expired prior to such time. 
 (f) To the extent applicable, it is the intent of CNB that this
Plan and Awards hereunder comply in all respects with Rule 16b-3 and Sections 162(m), 409A and 280G, and (i) the provisions of this Plan shall be administered, interpreted and construed in a manner necessary to comply with Rule 16b-3 and
Sections 162(m), 409A and 280G, the Treasury Regulations issued thereunder or an exception thereto (or disregarded to the extent this Plan cannot be so administered, interpreted or construed) and (ii) in no event shall any member of the
Committee or the Company (or its employees, officers or directors) have any liability to any Participant (or any other Person) due to the failure of an Award to satisfy the requirements of Rule 16b-3 and Sections 162(m), 409A and 280G. 

(g) The Company shall have the right to deduct from any payment made under this Plan any federal, state, local or foreign income or other taxes
required by law to be withheld with respect to such payment. It shall be a condition to the obligation of CNB to issue Common Shares, Other CNB Securities or property, other securities or property or other forms of payment, or any combination
thereof, upon exercise, settlement or payment of any Award under this Plan, that the Participant (or any Person entitled to act) pay to CNB, upon its demand, such amount as may be required by the Company for the purpose of satisfying any liability
to withhold federal, state, local or foreign income or other taxes. If the amount requested is not paid, CNB may refuse to issue Common Shares, Other CNB Securities or property, other securities or property or other forms of payment, or any
combination thereof. Notwithstanding anything in this Plan to the contrary, the Committee may, in its sole discretion, permit an Eligible Person (or any Person entitled to act) to elect to pay a portion or all of the amount requested by the Company
for such taxes with respect to such Award, at such time and in such manner as the Committee shall deem to be appropriate (including, but not limited to, by authorizing CNB to withhold, or agreeing to surrender to CNB on or about the date such tax
liability is determinable, Common Shares, Other CNB Securities or property, other securities or property or other forms of payment, or any combination thereof, owned by such Person or a portion of such forms of payment that would otherwise be
distributed, or have been distributed, as the case may be, pursuant to such Award to such Person, having a fair market value equal to the amount of such taxes); provided, however, that any broker-assisted cashless exercise shall comply with
the requirements for equity classification of Paragraph 35 of Statement of Financial Accounting Standards No. 123 (revised 2004) “Share-Based Payment” and any withholding satisfied through a net-settlement shall be limited to the
minimum statutory withholding requirements. 
 (h) The expenses of this Plan shall be borne by the Company; provided, however, the
Company may recover from a Participant or his or her Permitted Transferee, heirs or assigns any and all damages, fees, expenses and costs incurred by the Company arising out of any actions taken by a Participant or Permitted Transferee in breach of
this Plan or any agreement evidencing such Participant’s Award. 
  

 12 

 (i) This Plan shall be unfunded. The Company shall not be required to establish any special or separate
fund or to make any other segregation of assets to assure the payment of any Award under this Plan, and rights to the payment of Awards shall be no greater than the rights of the Company’s general creditors. 
 (j) By accepting any Award or other benefit under this Plan, each Participant (and each Person claiming under or through him or her) shall be
conclusively deemed to have indicated his or her acceptance and ratification of, and consent to, any action taken under this Plan by the Company, the Board or the Committee. 
 (k) The appropriate officers of the Company shall cause to be filed any reports, returns or other information regarding Awards under this Plan or any
Common Shares or Other CNB Securities issued pursuant to this Plan as may be required by applicable law and any applicable rules of any stock exchange or other market quotation system on which such Common Shares or Other CNB Securities are listed.

 (l) The validity, construction, interpretation, administration and effect of this Plan, and of its rules and regulations, and rights
relating to this Plan and to Awards granted under this Plan, shall be governed by the substantive laws, but not the choice of law rules, of the Commonwealth of Pennsylvania. 
 (m) Records of the Company shall be conclusive for all purposes under this Plan or any Award, unless determined by the Committee to be incorrect.

 (n) If any provision of this Plan or any Award is held to be illegal or invalid for any reason, the illegality or invalidity shall not
affect the remaining provisions of this Plan or any Award, but such provision shall be fully severable, and this Plan or Award, as applicable, shall be construed and enforced as if the illegal or invalid provision had never been included in this
Plan or Award, as applicable. 
 (o) The terms of this Plan shall govern all Awards under this Plan and in no event shall the Committee have
the power to grant any Award under this Plan that is contrary to any of the provisions of this Plan. 
 (p) For purposes of interpretation of
this Plan, the masculine pronoun includes the feminine and the singular includes the plural wherever appropriate. 
 Section 16.
Plan Amendment or Suspension. This Plan may be amended or suspended in whole or in part at any time, from time to time, by the Committee or by the Board; provided, that no amendment shall be made without shareholder
approval if such approval is necessary to qualify for or comply with any tax or regulatory requirement or other applicable law for which the Committee or Board deems it necessary or desirable to qualify or comply. No such amendment or suspension
shall adversely affect in a material manner any right of a Participant under an outstanding Award without his or her written consent. Notwithstanding the foregoing or any provision of an Award to the contrary, the Board or the Committee may at any
time (without 

  

 13 

 
the consent of any Participant) modify, amend or terminate any or all of the provisions of this Plan to the extent necessary to conform the provisions of
this Plan with Section 162(m), Section 280G, Section 409A or any other provision of the Code or other applicable law, the Treasury Regulations issued thereunder or an exception thereto, regardless of whether such modification,
amendment or termination of this Plan shall adversely affect the rights of a Participant. The Board may, in its sole discretion, submit any amendment to this Plan to the shareholders for approval. 
 Section 17. Plan Termination. This Plan shall terminate upon the earlier of the following dates or events to occur:

 (a) upon the adoption of a resolution of the Board terminating this Plan; or 
 (b) the tenth anniversary of the Board Approval Date. 
 No termination of this Plan shall materially alter or impair any of the rights or obligations of any Participant, without his or her written consent, under any Award previously granted under this Plan, except,
further, that subsequent to termination of this Plan, the Committee may make amendments, modifications or terminations of Awards permitted under Section 10 hereof. 
 Section 18. Effective Date. This Plan shall be effective, and Awards may be granted under this Plan, on or after the
Effective Date. 
 Section 19. Governing Law. This Plan and any Award granted under this Plan as well as any
determinations made or actions taken under this Plan shall be governed by, and construed and enforced in accordance with, the internal laws of the Commonwealth of Pennsylvania without regard to its choice or conflicts of laws principles. 

 

 14 

 APPENDIX A 
 Unless otherwise determined by the Committee in the applicable Award agreement, the following terms shall have the meaning indicated: 
 “Award” shall mean the grant of rights to an Eligible Person under this Plan. 
 “Board” shall mean the board of directors of CNB Financial Corporation. 
 “Board Approval
Date” shall mean the date of Board approval of this Plan, which was February 10, 2009. 
 “CNB”
shall mean CNB Financial Corporation. 
 “Code” shall mean the Internal Revenue Code of 1986, as it now exists or may
be amended from time to time, and the rules and regulations promulgated thereunder, as they may exist or may be amended from time to time. 
 “Committee” shall mean the Executive Compensation/Personnel Committee of the Board, or any successor thereto, or such other committee of the Board as is appointed by the Board to administer this Plan;
provided, however, that the Board may designate itself as the Committee to administer this Plan (except for purposes of Awards intended to meet the requirements of performance-based compensation under Section 162(m) of the Code).
Except as otherwise determined by the Board, the Committee (i) shall be comprised of not fewer than two (2) directors, (ii) shall meet any applicable requirements under Rule 16b-3, including any requirement that the Committee consist
of “Non-Employee Directors” (as defined in Rule 16b-3 or any successor rule), (iii) shall meet any applicable requirements under Section 162(m), including any requirement that the Committee consist of “outside
directors” (as defined in Treasury Regulation Section 1.162-27(e)(3)(i) or any successor regulation) and (iv) shall meet any applicable requirements of any stock exchange or other market quotation system on which the Common Shares are
listed. 
 “Company” shall mean CNB Financial Corporation and any parent, subsidiary or affiliate thereof.

 “Common Shares” shall mean shares of common stock, no par value, of CNB Financial Corporation and stock of any
other class into which such shares may thereafter be changed. 
 “Effective Date” shall mean the date of shareholder
approval of this Plan. 
 “Eligible Person(s)” shall mean those persons who are full or part-time employees of the
Company or who serve CNB or an affiliate as a director. 
 “Exchange Act” shall mean the Securities Exchange Act of
1934, as it now exists or may be amended from time to time, and the rules promulgated thereunder, as they may exist or may be amended from time to time. 
  

 15 

 “Fair Market Value” shall mean (i) with respect to the Common Shares, as of
any date (a) if the Common Shares are listed on any established stock exchange, system or market, the closing market price of the Common Shares as quoted in such exchange, system or market on such date or, if the Common Shares are not traded on
such date, on the closest preceding date on which the Common Shares were traded or (b) in the absence of an established market for the Common Shares, as determined in good faith by the Committee or (ii) with respect to property other than
Common Shares, the value of such property, as determined by the Committee, in its sole discretion. 
 “Nonqualified Stock
Option” shall mean a Stock Option that is not an incentive stock option as defined in Section 422 of the Code. Nonqualified Stock Options are subject, in part, to the terms, conditions and restrictions described in Section 6
hereof. 
 “Other CNB Securities” shall mean CNB Financial Corporation securities (which may include, but need not be
limited to, unbundled stock units or components thereof, debentures, preferred stock, warrants, securities convertible into Common Shares or other property) other than Common Shares. 
 “Participant” shall mean an Eligible Person to whom an Award has been granted under this Plan. 
 “Permitted Transferee” means (i) any person defined as an employee in the Instructions to Registration Statement Form S-8
promulgated by the Securities and Exchange Commission, as such Form may be amended from time to time, which persons include, as of the date of adoption of this Plan, executors, administrators or beneficiaries of the estates of deceased Participants,
guardians or members of a committee for incompetent former Participants, or similar persons duly authorized by law to administer the estate or assets of former Participants and (ii) Participants’ family members who acquire Awards from the
Participant other than for value, including through a gift or a domestic relations order. For purposes of this definition, “family member” includes any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former
spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law, including adoptive relationships, any person sharing the Participant’s household (other than a tenant or employee), a
trust in which these persons have more than fifty percent (50%) of the beneficial interest, a foundation in which these persons (or the Participant) control the management of assets and any other entity in which these persons (or the
Participant) own more than fifty percent (50%) of the voting interests. For purposes of this definition, neither (i) a transfer under a domestic relations order in settlement of marital property rights nor (ii) a transfer to an entity
in which more than fifty percent of the voting or beneficial interests are owned by family members (or the Participant) in exchange for an interest in that entity is considered a transfer for “value”. 
 “Person” means any individual, firm, corporation, partnership, limited liability company, trust, incorporated or unincorporated
association, joint venture, joint stock company, governmental body or other entity of any kind. 
 “Plan” shall mean
this CNB Financial Corporation 2009 Stock Incentive Plan. 
 “Restricted Period” has the meaning set forth in
subsection 7(b) hereof. 
  

 16 

 “Restricted Stock” shall mean an Award of Common Shares that are issued subject,
in part, to the terms, conditions and restrictions described in Section 7 hereof. 
 “Rule 16b-3” shall mean
Rule 16b-3 promulgated by the Securities and Exchange Commission under the Exchange Act and any successor rule. 
 “Section
162(m)” shall mean §162(m) of the Code, any rules or regulations promulgated thereunder, as they may exist or may be amended from time to time, or any successor to such section. 
 “Section 280G” shall mean §280G of the Code, any rules or regulations promulgated thereunder, as they may exist or may be
amended from time to time, or any successor to such section. 
 “Section 409A” shall mean §409A of the Code, any
rules or regulations promulgated thereunder, as they may exist or may be amended from time to time, or any successor to such section. 
 “Separation from Service” shall mean the Participant’s death, retirement or other termination of employment with the Company (including all persons treated as a single employer under
Section 414(b) and 414(c) of the Code) that constitutes a “separation from service” (within the meaning of Section 409A). For purposes hereof, the determination of controlled group members shall be made pursuant to the provisions
of Section 414(b) and 414(c) of the Code; provided that the language “at least 50 percent” shall be used instead of “at least 80 percent” in each place it appears in Section 1563(a)(1), (2) and (3) of the Code
and Treas. Reg. §1.414(c)-2; provided, further, where legitimate business reasons exist (within the meaning of Treas. Reg. §1.409A-1(h)(3)), the language “at least 20 percent” shall be used instead of “at least 80
percent” in each place it appears. 
 “Specified Employee” means a key employee (as defined in
Section 416(i) of the Code without regard to paragraph (5) thereof) of the Company as determined in accordance with Section 409A and the procedures established by the Company. 
 “Stock Option” shall mean an Award of a right to purchase Common Shares. The term Stock Option shall include only Nonqualified
Stock Options. 
 “Treasury Regulations” shall mean final, proposed or temporary regulations of the Department of
Treasury under the Code and any successor regulation. 
  

 17Indenture dated as of June 12, 2009

 Exhibit 4.1 
  
  
 EQUINIX, INC. 
 4.75% CONVERTIBLE SUBORDINATED NOTES 
 DUE JUNE 15, 2016 
 INDENTURE 
 DATED AS OF JUNE 12, 2009 
 U.S. BANK NATIONAL ASSOCIATION 
 AS TRUSTEE 
  
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	ARTICLE 1
	DEFINITIONS AND INCORPORATION BY REFERENCE
			
	 Section 1.01.
	  	Definitions	  	1
	 Section 1.02.
	  	Other Definitions	  	8
	 Section 1.03.
	  	Trust Indenture Act Provisions	  	9
	 Section 1.04.
	  	Rules of Construction	  	10
	
	ARTICLE 2
	THE SECURITIES
			
	 Section 2.01.
	  	Form and Dating	  	10
	 Section 2.02.
	  	Execution and Authentication	  	12
	 Section 2.03.
	  	Registrar, Paying Agent and Conversion Agent	  	13
	 Section 2.04.
	  	Paying Agent to Hold Money in Trust	  	13
	 Section 2.05.
	  	Securityholder Lists	  	13
	 Section 2.06.
	  	Transfer and Exchange	  	14
	 Section 2.07.
	  	Replacement Securities	  	15
	 Section 2.08.
	  	Outstanding Securities	  	15
	 Section 2.09.
	  	Treasury Securities	  	16
	 Section 2.10.
	  	Temporary Securities	  	16
	 Section 2.11.
	  	Cancellation	  	16
	 Section 2.12.
	  	Additional Transfer and Exchange Requirements	  	16
	 Section 2.13.
	  	CUSIP Numbers	  	18
	 Section 2.14.
	  	Repurchases	  	18
	
	ARTICLE 3
	PURCHASES
			
	 Section 3.01.
	  	[Reserved]	  	18
	 Section 3.02.
	  	[Reserved]	  	18
	 Section 3.03.
	  	[Reserved]	  	19
	 Section 3.04.
	  	[Reserved]	  	19
	 Section 3.05.
	  	[Reserved]	  	19
	 Section 3.06.
	  	[Reserved]	  	19
	 Section 3.07.
	  	[Reserved]	  	19
	 Section 3.08.
	  	Repurchase at Option of the Holder upon a Fundamental Change	  	19
	 Section 3.09.
	  	Compliance with Securities Laws upon Purchase of Securities	  	20
	 Section 3.10.
	  	Repayment to the Company	  	20
	
	ARTICLE 4
	CONVERSION
			
	 Section 4.01.
	  	Right to Convert	  	20

  

 -i- 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 Section 4.02.
	  	Conversion Rate	  	22
	 Section 4.03.
	  	Conversion Procedures	  	22
	 Section 4.04.
	  	Payment upon Conversion	  	23
	 Section 4.05.
	  	Exchange in Lieu of Conversion	  	25
	 Section 4.06.
	  	Cash Payments in Lieu of Fractional Shares	  	26
	 Section 4.07.
	  	Adjustment of Conversion Rate	  	26
	 Section 4.08.
	  	Make-Whole Adjustment	  	34
	 Section 4.09.
	  	Notice of Adjustment in Conversion Rate	  	36
	 Section 4.10.
	  	Effect of Reclassification, Consolidation, Merger or Sale	  	37
	 Section 4.11.
	  	Taxes on Shares Issued	  	38
	 Section 4.12.
	  	Reservation of Shares, Shares; Listing and Compliance	  	38
	 Section 4.13.
	  	Responsibility of Trustee	  	38
	
	ARTICLE 5
	SUBORDINATION
			
	 Section 5.01.
	  	Securities Subordinated to Senior Indebtedness	  	39
	 Section 5.02.
	  	Liquidation; Dissolution; Bankruptcy	  	39
	 Section 5.03.
	  	Default on Senior Indebtedness and Designated Senior Indebtedness	  	39
	 Section 5.04.
	  	Acceleration of Securities	  	40
	 Section 5.05.
	  	When Distribution Must Be Paid Over	  	40
	 Section 5.06.
	  	Notice by Company	  	41
	 Section 5.07.
	  	Subrogation	  	41
	 Section 5.08.
	  	Relative Rights	  	41
	 Section 5.09.
	  	Subordination May Not Be Impaired by Company	  	41
	 Section 5.10.
	  	Distribution or Notice to Representative	  	41
	 Section 5.11.
	  	Rights of Trustee and Paying Agent	  	42
	 Section 5.12.
	  	Authorization to Effect Subordination	  	42
	 Section 5.13.
	  	Amendments	  	42
	 Section 5.14.
	  	Agreement to Subordinate Unaffected	  	42
	 Section 5.15.
	  	Certain Conversions Deemed Payment	  	42
	
	ARTICLE 6
	COVENANTS
			
	 Section 6.01.
	  	Payment of Securities	  	43
	 Section 6.02.
	  	Reports	  	43
	 Section 6.03.
	  	Compliance Certificates	  	43
	 Section 6.04.
	  	Further Instruments and Acts	  	44
	 Section 6.05.
	  	Maintenance of Corporate Existence	  	44
	 Section 6.06.
	  	Stay, Extension and Usury Laws	  	44

  

 -ii- 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	
	ARTICLE 7
	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
			
	 Section 7.01.
	  	Company May Consolidate, etc., on Certain Terms	  	44
	 Section 7.02.
	  	Successor Substituted	  	45
	
	ARTICLE 8
	DEFAULT AND REMEDIES
			
	 Section 8.01.
	  	Events of Default	  	45
	 Section 8.02.
	  	Acceleration	  	47
	 Section 8.03.
	  	Other Remedies	  	47
	 Section 8.04.
	  	Waiver of Defaults and Events of Default	  	48
	 Section 8.05.
	  	Control by Majority	  	48
	 Section 8.06.
	  	Limitations on Suits	  	48
	 Section 8.07.
	  	Rights of Holders to Receive Payment and to Convert	  	49
	 Section 8.08.
	  	Collection Suit by Trustee	  	49
	 Section 8.09.
	  	Trustee May File Proofs of Claim	  	49
	 Section 8.10.
	  	Priorities	  	49
	 Section 8.11.
	  	Undertaking for Costs	  	50
	
	ARTICLE 9
	TRUSTEE
			
	 Section 9.01.
	  	Duties of Trustee	  	50
	 Section 9.02.
	  	Rights of Trustee	  	51
	 Section 9.03.
	  	Individual Rights of Trustee	  	52
	 Section 9.04.
	  	Trustee’s Disclaimer	  	52
	 Section 9.05.
	  	Notice of Default or Events of Default	  	52
	 Section 9.06.
	  	Reports by Trustee to Holders	  	53
	 Section 9.07.
	  	Compensation and Indemnity	  	53
	 Section 9.08.
	  	Replacement of Trustee	  	54
	 Section 9.09.
	  	Successor Trustee by Merger, etc.	  	55
	 Section 9.10.
	  	Eligibility; Disqualification	  	55
	 Section 9.11.
	  	Preferential Collection of Claims Against Company	  	55
	
	ARTICLE 10
	SATISFACTION AND DISCHARGE OF INDENTURE
			
	 Section 10.01.
	  	Satisfaction and Discharge of Indenture	  	55
	 Section 10.02.
	  	Application of Trust Money	  	56
	 Section 10.03.
	  	Repayment to Company	  	56
	 Section 10.04.
	  	Reinstatement	  	56

  

 -iii- 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	
	ARTICLE 11
	AMENDMENTS, SUPPLEMENTS AND WAIVERS
			
	 Section 11.01.
	  	Without Consent of Holders	  	57
	 Section 11.02.
	  	With Consent of Holders	  	58
	 Section 11.03.
	  	Compliance with Trust Indenture Act	  	59
	 Section 11.04.
	  	Revocation and Effect of Consents	  	59
	 Section 11.05.
	  	Notation on or Exchange of Securities	  	59
	 Section 11.06.
	  	Trustee to Sign Amendments, etc.	  	59
	 Section 11.07.
	  	Effect of Supplemental Indentures	  	59
	
	ARTICLE 12
	MISCELLANEOUS
			
	 Section 12.01.
	  	Trust Indenture Act Controls	  	60
	 Section 12.02.
	  	Notices	  	60
	 Section 12.03.
	  	Communications by Holders with Other Holders	  	61
	 Section 12.04.
	  	Certificate and Opinion as to Conditions Precedent	  	61
	 Section 12.05.
	  	Record Date for Vote or Consent of Securityholders	  	62
	 Section 12.06.
	  	Rules by Trustee, Paying Agent, Registrar and Conversion Agent	  	62
	 Section 12.07.
	  	Legal Holidays	  	62
	 Section 12.08.
	  	Governing Law	  	62
	 Section 12.09.
	  	No Adverse Interpretation of Other Agreements	  	62
	 Section 12.10.
	  	No Personal Liability of Directors, Officers, Employees or Stockholders	  	62
	 Section 12.11.
	  	Successors	  	62
	 Section 12.12.
	  	Multiple Counterparts	  	62
	 Section 12.13.
	  	Reparability	  	62
	 Section 12.14.
	  	Table of Contents, Headings, etc.	  	63
	 Section 12.15.
	  	Force Majeure	  	63
	 Section 12.16.
	  	Waiver of Jury Trial	  	63

  

 -iv- 

 INDENTURE, dated as of June 12, 2009, between EQUINIX, INC., a Delaware corporation (the
“Company”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as Trustee (the “Trustee”). 
 The Company and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders of the Company’s 4.75% Convertible Subordinated Notes due June 15, 2016. 
 ARTICLE 1 
 DEFINITIONS
AND INCORPORATION BY REFERENCE 
 Section 1.01. Definitions.

 “Affiliate” means, with respect to any specified person, any other person directly or indirectly controlling or controlled
by or under direct or indirect common control with such specified person. For the purposes of this definition, “control”, when used with respect to any person, means the power to direct the management and policies of such person, directly
or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 
 “Agent” means any Registrar, Paying Agent or Conversion Agent. 
 “Applicable Conversion Price” means, at the time any determination thereof is to be made, $1,000 divided by the Applicable Conversion
Rate, rounded to the nearest 1/10th of a cent. 
 “Applicable Conversion Rate” means, at the time any determination thereof
is to be made, the Conversion Rate as adjusted from time to time pursuant to Article 4, rounded to the nearest 1/1,000th of a share. 
 “Applicable Procedures” means, with respect to any transfer or exchange of beneficial ownership interests in a Global Security, the rules and procedures of the Depositary, in each case to the extent applicable to such
transfer or exchange. 
 “Board of Directors” means either the board of directors of the Company or any committee of the
Board of Directors authorized to act for it with respect to this Indenture. 
 “Business Day” means any day other than a
Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required to close. 
 “Capital
Stock” means (a) in the case of a corporation, corporate stock, (b) in the case of an association or business entity, shares, interests, participations, rights or other equivalents (however designated) of corporate stock,
(c) in the case of a partnership or limited liability company, partnership or membership interests (whether general or limited) and (d) any other interest or participation that confers on a person the right to receive a share of the
profits and losses of, or distribution of the assets of, the issuing person. 
 “Cash” or “cash” means such
coin or currency of the United States as at any time of payment is legal tender for the payment of public and private debts. 

 “Certificated Security” means a Security that is in substantially the form attached
hereto as Exhibit A and that does not include the information or the Schedule called for by footnotes 1 and 2 thereof. 
 “Change of
Control” means the occurrence of any of the following at a time after the Securities are originally issued: 
 (a) a “person or
“group” within the meaning of Section 13(d) of the Exchange Act other than the Company, its Subsidiaries or employee benefit plans of the Company or any of its Subsidiaries, becomes the direct or indirect ultimate “beneficial
owner”, as defined in Rule 13d-3 under the Exchange Act, of the Company’s common equity representing more than 50% of the voting power of the Company’s common equity and either (i) files a Schedule 13D or Schedule TO, or any
successor schedule, form or report under the Exchange Act, disclosing the same or (ii) the Company otherwise becomes aware of any such person or group; 
 (b) consummation of any share exchange, consolidation or merger of the Company pursuant to which the Common Stock will be converted into cash, securities or other property or any sale, lease or other transfer in one
transaction or a series of transactions of all or substantially all of the consolidated assets of the Company and its Subsidiaries, taken as a whole, to any person other than one of the Company’s wholly-owned Subsidiaries; provided, however,
that a transaction described in this clause (b) will be deemed not to be a Change of Control so long as such transaction (i) both (A) does not result in any reclassification, conversion, exchange or cancellation of outstanding shares
of the Company’s voting stock and (B) the persons that “beneficially owned” directly or indirectly, the shares of the Company’s voting stock immediately prior to such transaction beneficially own, directly or indirectly,
shares of voting stock representing a majority of the total voting power of all outstanding classes of voting stock of the surviving or transferee person or (ii) is effected solely for the purpose of changing the Company’s jurisdiction of
incorporation and resulting in a reclassification, conversion or exchange of outstanding shares of capital stock, if at all, solely into shares of the surviving entity or a direct or indirect parent of the surviving entity; or 
 (c) the stockholders of the Company approve any plan or proposal for the liquidation or dissolution of the Company. 
 A Change Of Control will not be deemed to have occurred pursuant to clause (b) above, however, if at least 95% of the consideration, excluding cash
payments for fractional shares, in the transaction or transactions that would otherwise constitute a Change of Control consists of shares of common stock that are traded on, or immediately after the transaction or event will be traded on, the NASDAQ
Global Select Market, the NASDAQ Global Market or the New York Stock Exchange (these securities are referred to herein as “publicly traded securities”), and as a result of such transaction or transactions the notes become
convertible into such publicly traded securities. 
 “Close of Business” means 5:00 p.m. New York City time. 
 “Common Stock” means the common stock of the Company, $0.001 par value per share, as it exists on the date of this Indenture, and any
shares of any class or classes of capital stock of the Company 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 

  

 2 

 
winding-up of the Company and which are not subject to redemption by the Company; provided, however, that if at any time there shall be more
than one such resulting class, the shares of each such class then so issuable on conversion of Securities shall be substantially in the proportion which the total number of shares of such class resulting from all such reclassifications bears to the
total number of shares of all such classes resulting from all such reclassifications. 
 “Company” means the party named as
such in the first paragraph of this Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Company. 
 “Corporate Trust Office” means the office of the Trustee at the address specified in Section 12.02 hereof or such other address as
to which the Trustee may give notice to the Company. 
 “Current Market Price” of the Common Stock on any day means the
average Sale Price of a share of Common Stock over the 10 consecutive Trading Days ending on and including the earlier of the day in question and the day before the Ex Date with respect to an issuance, dividend or distribution requiring such
computation. 
 “Daily Conversion Value” means, for each of the 25
consecutive Trading Days during the Cash Settlement Averaging Period, one-twenty-fifth (1/25th) of (a) the Applicable Conversion Rate on
such day and (b) the Volume Weighted Average Price per share of the Common Stock on such day. 
 “Daily Share Amount”
means for each Trading Day of the Cash Settlement Averaging Period and each $1,000 principal amount of Securities surrendered for conversion, a number of shares (but in no event less than zero) determined by the following formula: 
 (Volume Weighted Average Price per share for such Trading Day × Conversion Rate for such Trading Day) – Specified Cash Amount 
  
 Volume Weighted Average price per share for such
Trading Day × 25 
 “Default” or “default” means, when used with respect to the Securities, any event
which is or, after notice or passage of time or both, would be an Event of Default. 
 “Designated Senior Indebtedness”
means the Company’s Senior Indebtedness which, on the date of a payment event of default or the delivery of a Payment Blockage Notice, has an aggregate amount outstanding of, or under which, on such date, the holders thereof are committed to
lend up to, at least $5.0 million and is specifically designated in the instrument evidencing or governing that Senior Indebtedness as “Designated Senior Indebtedness” for purposes hereof, provided, however, that such instrument may place
limitations and conditions on the right of such Senior Indebtedness to exercise the rights of Designated Senior Indebtedness. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder, as in effect from time to time. 
 “Ex Date” means the first date on which shares of Common Stock trade on the applicable exchange or in the applicable market, regular
way, without the right to receive an issuance, dividend or distribution. 
  

 3 

 “Ex-Dividend Date” means the first date upon which a sale of shares of Common Stock does
not automatically transfer the right to receive the relevant distribution from the seller of shares of Common Stock to its buyer. 
 “Final Maturity Date” means June 15, 2016. 
 “Fundamental Change” means the occurrence of a
Change of Control or a Termination of Trading at a time after the Securities are originally issued. 
 “Fundamental Change Repurchase
Date” means the date specified as such in the Fundamental Change Repurchase Notice delivered to Holders pursuant to Section 3.08(b) hereof. 
 “GAAP” means generally accepted accounting principles in the United States of America as in effect as of the date of this Indenture, including those set forth in (1) the opinions and
pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants, (2) the statements and pronouncements of the Financial Accounting Standards Board, (3) such other statements by such other entity
as approved by a significant segment of the accounting profession and (4) the rules and regulations of the SEC governing the inclusion of financial statements (including pro forma financial statements) in registration statements filed under the
Securities Act and periodic reports required to be filed pursuant to Section 13 of the Exchange Act, including opinions and pronouncements in staff accounting bulletins and similar written statements from the accounting staff of the SEC.

 “Global Security” means a permanent Global Security that is in substantially the form attached hereto as Exhibit A and
that includes the information and the Schedule called for by footnotes 1 and 2 thereof and that is deposited with the Depositary or its custodian and registered in the name of the Depositary or its nominee. 
 “Holder” or “Securityholder” means the person in whose name a Security is registered on the Primary Registrar’s
books. 
 “Indebtedness” means, with respect to any Person, without duplication, (a) all indebtedness, obligations and
other liabilities (contingent or otherwise) of such Person for borrowed money (including obligations of such Person in respect of overdrafts, foreign exchange contracts, currency exchange agreements, interest rate protection agreements, and any
loans or advances from banks, whether or not evidenced by notes or similar instruments) or evidenced by credit or loan agreements, bonds, debentures, notes or other written obligations (whether or not the recourse of the lender is to the whole of
the assets of such Person or to only a portion thereof) (other than any accounts payable or other accrued current liability or obligation incurred in the ordinary course of business in connection with the obtaining of materials or services),
(b) all reimbursement obligations and other liabilities (contingent or otherwise) of such Person with respect to letters of credit, bank guarantees or bankers’ acceptances, (c) all obligations and liabilities (contingent or otherwise)
of such Person in respect of leases of such Person required, in conformity with GAAP, to be accounted for as capitalized lease obligations on the balance sheet of such Person, (d) all obligations of such Person evidenced by a note or similar
instrument given in connection with the acquisition of any business, properties or assets of any kinds, (e) all obligations of such Person issued or assumed as the deferred purchase price of property or services (excluding trade accounts
payable and accrued liabilities arising in the ordinary course of business), (f) all obligations and other liabilities (contingent or otherwise) of such Person under any lease or related document (including a 

  

 4 

 
purchase agreement) in connection with the lease of real property or improvements (or any personal property included as part of any such lease) that provides
that such Person is contractually obligated to purchase or cause a third party to purchase the leased property and thereby guarantee a minimum residual value of the leased property to the lessor and the obligations of such Person under such lease or
related document to purchase or to cause a third party to purchase such leased property (whether or not such lease transaction is characterized as an operating lease or a capitalized lease in accordance with GAAP), (g) all obligations
(contingent or otherwise) of such Person with respect to any interest rate, currency or other swap, cap, floor or collar agreement, hedge agreement, forward contract, or other similar instrument or agreement or foreign currency hedge, exchange,
purchase or similar instrument or agreement, (h) all direct or indirect guarantees, agreements to be jointly liable or similar agreements by such Person in respect of, and obligations or liabilities (contingent or otherwise) of such Person to
purchase or otherwise acquire or otherwise assure a creditor against loss in respect of, indebtedness, obligations or liabilities of another Person of the kind described in clauses (a) through (g), and (i) any and all deferrals, renewals,
extensions, restatements, replacements, refinancings and refundings of, or amendments, modifications, or supplements to, or any indebtedness or obligation issued in exchange for, any indebtedness, obligation or liability of the kind described in
clauses (a) through (h). 
 “Indenture” means this Indenture as amended or supplemented from time to time pursuant to
the terms of this Indenture. 
 “Issuance Date” means the date on which the Securities are first authenticated and issued.

 “Market Disruption Event” means the occurrence or existence prior to 1:00 p.m. (New York City time) on any Trading Day
for the Common Stock of an aggregate one half hour period, of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the stock exchange or otherwise) in the Common Stock or in any options,
contracts or future contracts relating to the Common Stock. 
 “Obligations” means any principal, interest, penalties, fees,
rent, indemnifications, reimbursements, fees and expenses, damages and other liabilities payable under the documentation governing any Indebtedness. 
 “Officer” means the Chief Executive Officer, the President, any Vice President, the Chief Financial Officer, the Treasurer, the Secretary or any Assistant Secretary of the Company. 
 “Officers’ Certificate” means a certificate signed on behalf of the Company by two Officers, at least one of whom shall be the
principal executive officer, principal financial officer or principal accounting officer of the Company. 
 “Opinion of
Counsel” means a written opinion that meets the requirements of Section 12.04 from legal counsel. The counsel may be an employee of or counsel to the Company or any Subsidiary of the Company. 
 “Permitted Junior Securities” means Capital Stock in the Company or debt securities that are subordinated to all Senior Indebtedness
(and any debt securities issued in exchange for Senior Indebtedness) to substantially the same extent as, or to a greater extent than, the Securities are subordinated to Senior Indebtedness pursuant to this Indenture. 
  

 5 

 “Person” or “person” means any individual, corporation, partnership,
limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 
 “Principal” or “principal” of a debt security, including the Securities, means the principal of the security plus, when
appropriate, the premium, if any, on the security. 
 “Prospectus” means that final prospectus dated June 9, 2009, relating
to the Securities. 
 “Representative” means the indenture trustee or other trustee, agent or representative for any Senior
Indebtedness. 
 “Responsible Officer” when used with respect to the Trustee, means any officer within the corporate trust
services department of the Trustee with direct responsibilities for the administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge
of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture. 
 “Sale Price” of the Common Stock on any date means the closing sale price (or if no closing sale price is reported, the average of the bid and asked prices or, if more than one such price in either case, the average of the
average bid and the average asked prices) on that date as reported by the NASDAQ Global Select Market or, if the Common Stock is not listed on the NASDAQ Global Select Market, on the other principal U.S. national or regional securities exchange on
which the Common Stock is then traded. The Sale Price will be determined without reference to after-hours or extended market trading. If the Common Stock is not reported by the NASDAQ Global Select Market or a principal U.S. national or regional
securities exchange, the “Sale Price” will be the last quoted bid price for the Common Stock in the over-the-counter market on the relevant date as reported by the National Quotation Bureau or similar organization. If the Common Stock is
not so quoted, the “Sale Price” will be the average of the mid-point of the last bid and asked prices for the Common Stock on the relevant date from each of at least three nationally recognized independent investment banking firms
selected by the Company for this purpose. 
 “Scheduled Trading Day” means any day that is scheduled to be a Trading Day.

 “SEC” means the Securities and Exchange Commission. 
 “Securities” means the 4.75% Convertible Subordinated Notes due June 15, 2016 or any of them (each, a “Security”),
as amended or supplemented from time to time, that are issued under this Indenture. 
 “Securities Act” means the Securities
Act of 1933, as amended, and the rules and regulations promulgated thereunder, as in effect from time to time. 
 “Securities
Custodian” means the Trustee, as custodian with respect to the Securities in global form, or any successor thereto. 
 “Senior Indebtedness” means (a) the principal of, premium, if any, interest (including all interest accruing subsequent to the commencement of any bankruptcy or similar proceeding, whether or not a claim for
post-petition interest is allowable as a claim in any such proceeding) and rent payable on or 

  

 6 

 
termination payment with respect to or in connection with Indebtedness of the Company (together with all fees, costs, expenses and other amounts accrued or
due on or in connection therewith) whether outstanding on the date of this Indenture or subsequently created, incurred, assumed, guaranteed or in effect guaranteed by the Company (including all deferrals, renewals, extensions or refundings of, or
amendments, modifications or supplements to, the foregoing), except for: (a) any Indebtedness that by its terms expressly provides that such Indebtedness shall not be senior in right of payment to the Securities or expressly provides that such
Indebtedness is equal with or junior in right of payment with the Securities; (b) any Indebtedness between or among the Company or any of its majority or wholly-owned Subsidiaries, or any entity a majority of the voting stock of which the
Company directly or indirectly owns, other than Indebtedness to the Company’s Subsidiaries arising by reason of guaranties by the Company of Indebtedness of such Subsidiary to a person that is not a Subsidiary of the Company; (c) the
Company’s real and personal property leases, its capital leases and its equipment and IBX financing obligations; (d) Indebtedness under the Company’s 2.50% Convertible Subordinated Debentures due 2024; (e) 2.50% Convertible
Subordinated Notes due 2012; (f) 3.00% Convertible Subordinated Notes due 2014; (g) any liability for federal, state, local or other taxes owed or owing by the Company; and (h) the Company’s trade payables and accrued expenses
(including, without limitation, accrued compensation and accrued restructuring charges) or deferred purchase price for goods, services or materials purchased or provided in the ordinary course of business. 
 “Significant Subsidiary” means, in respect of any Person, a Subsidiary of such Person that would constitute a “significant
subsidiary”, as such term is defined under Rule 1-02 of Regulation S-X under the Securities Act and the Exchange Act. 
 “Subsidiary” means, in respect of any Person, any corporation, association, partnership or other business entity of which more than 50% of the total voting power of shares of Capital Stock or other interests (including
partnership interests) entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers, general partners or trustees thereof is at the time owned or controlled, directly or indirectly, by (a) such
Person; (b) such Person and one or more Subsidiaries of such Person; or (c) one or more Subsidiaries of such Person. 
 “Termination of Trading” means the Common Stock (or other common stock into which the Securities are then convertible) is (i) no longer listed or approved for trading on the NASDAQ Global Select Market, the NASDAQ
Global Market or the New York Stock Exchange, or (ii) suspended from trading for 20 consecutive Scheduled Trading Days. 
 “TIA” means the Trust Indenture Act of 1939, as amended, and the rules and regulations thereunder as in effect on the date of this Indenture, except as provided in Section 11.03, and except to the extent any amendment
to the Trust Indenture Act expressly provides for application of the Trust Indenture Act as in effect on another date. 
 “Trading
Day” means a day during which (i) there is no Market Disruption Event, and (ii) the NASDAQ Global Select Market or, if the Common Stock is not quoted on the NASDAQ Global Select Market, on the principal U.S. national or regional
securities exchange on which the Common Stock is then listed, opens for trading during its regular trading session or, if the Common Stock is not so listed, admitted for trading or quoted, any Business Day. A “Trading Day” only
includes those days that have a scheduled closing time of 4:00 p.m. (New York City time) or the then standard closing time for regular trading on the relevant exchange or trading system. 
  

 7 

 “Trading Price” of the Securities on any date of determination means the average of the
secondary market bid quotations per $1,000 principal amount of Securities obtained by the Trustee for $2,000,000 principal amount of Securities 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 three such bids cannot reasonably be obtained by the Trustee, but two such bids are obtained, then the average of the two bids shall be used, and if only one such bid
can reasonably be obtained by the Trustee, that one bid shall be used. If the Trustee cannot reasonably obtain at least one bid for $2,000,000 principal amount of Securities from a nationally recognized securities dealer, then the Trading Price per
$1,000 principal amount of Securities will be deemed to be less than 98% of the product of the Sale Price of the Common Stock and the Applicable Conversion Rate on such date. 
 “Trustee” means the party named as such in the first paragraph of this Indenture until a successor replaces it in accordance with the
provisions of this Indenture, and thereafter means the successor. 
 “Underwriters” means Citigroup Global Markets Inc.,
J.P. Morgan Securities Inc., Goldman, Sachs & Co., Deutsche Bank Securities Inc. and Piper Jaffray & Co. 
 “Vice
President” when used with respect to the Company or the Trustee, means any vice president, whether or not designated by a number or a word or words added before or after the title “vice president”. 
 “Volume Weighted Average Price” per share of Common Stock on any Trading Day means such price as displayed on Bloomberg (or any
successor service) page EQIX. UQ<Equity> VAP in respect of the period from 9:30 a.m. to 4:00 p.m., New York City time, on such Trading Day; or, if such price is not available, the “Volume Weighted Average Price” means the
market value per share of Common Stock on such Trading Day as determined by a nationally recognized investment banking firm retained for this purpose by the Company. 
 Section 1.02. Other Definitions. 
  

			
	 Term
	  	 Section

	 Additional Interest
	  	8.03
	 Additional Shares
	  	4.08 (a)
	 Agent Members
	  	2.01 (b)
	 Bankruptcy Law
	  	8.01 (j)
	 Cash Election
	  	4.04 (a)
	 Cash Settlement Averaging Period
	  	4.04 (a)
	 Cash Settlement Notice Period
	  	4.04 (a)
	 clearing agency
	  	2.12 (b)
	 Company Order
	  	2.02
	 Conversion Agent
	  	2.03
	 Conversion Date
	  	4.03
	 Conversion Notice
	  	4.03
	 Conversion Obligation
	  	4.04 (a)
	 Conversion Rate
	  	4.02
	 Conversion Retraction Period
	  	4.04 (a)
	 Current Market Price
	  	4.07
	 CUSIP
	  	2.13

  

 8 

			
	 Term
	  	 Section

	 Custodian
	  	8.01 (j)
	 Cut-off Date
	  	4.08 (b)
	 Daily Measurement Value
	  	4.04 (a)
	 DTC
	  	2.01 (b)
	 Depositary
	  	2.01 (b)
	 Distributed Property
	  	4.07 (a)
	 Event of Default
	  	8.01
	 Expiration Date
	  	4.07 (a)
	 Final Notice Date
	  	 4.01 (a)

	 Financial Institution
	  	4.05
	 Fundamental Change Repurchase Date
	  	3.08 (a)
	 Fundamental Change Repurchase Notice
	  	3.08 (b)
	 Fundamental Change Repurchase Price
	  	3.08 (a)
	 Irrevocable Election
	  	4.04 (a)
	 Legal Holiday
	  	12.07
	 Measurement Period
	  	4.01 (a)
	 Paying Agent
	  	2.03
	 Payment Blockage Notice
	  	5.03 (b)
	 Payment Blockage Period
	  	5.03 (b)
	 Primary Registrar
	  	2.03
	 Reference Property
	  	4.10
	 Registrar
	  	2.03
	 Reporting Obligations
	  	8.03
	 Repurchase Exercise Notice
	  	3.08 (c)
	 Rights Plan
	  	4.07 (a)
	 Share Election
	  	4.04 (a)
	 Specified Cash Amount
	  	4.04 (a)
	 Spin-Off
	  	4.07 (a)
	 Spin-Off Securities
	  	4.07 (a)
	 Stock Price
	  	4.08 (a)
	 Successor Company
	  	7.01
	 Triggering Distribution
	  	4.07 (a)
	 Trigger Event
	  	4.07 (a)
	 Underwriting Agreement
	  	2.02
	 Valuation Period
	  	4.07 (a)

 Section 1.03. Trust Indenture Act Provisions. Whenever this Indenture refers to a
provision of the TIA, that provision is incorporated by reference in and made a part of this Indenture. The Indenture shall also include those provisions of the TIA required to be included herein by the provisions of the Trust Indenture Reform Act
of 1990. The following TIA terms used in this Indenture have the following meanings: 
 “indenture securities” means the
Securities; 
  

 9 

 “indenture security holder” means a Securityholder; 
 “indenture to be qualified” means this Indenture; and 
 “indenture trustee” or “institutional trustee” means the Trustee; and “obligor” on the indenture securities means the Company or any other obligor on the Securities.

 All other terms used in this Indenture that are defined in the TIA, defined by TIA reference to another statute or defined by any SEC Rule
and not otherwise defined herein have the meanings assigned to them therein. 
 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) words in the singular include the plural, and words in the plural include the singular; 
 (d) provisions apply to successive events and transactions; 
 (e) the term “merger” includes a statutory share exchange and the term “merged” has a correlative meaning; 
 (f) the masculine gender includes the feminine and the neuter; 
 (g) references to agreements and other instruments include subsequent amendments thereto; and 
 (h)
“herein”, “hereof” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 
 ARTICLE 2 
 THE SECURITIES 
 Section 2.01. Form and Dating. 
 (a) General. The Securities and the Trustee’s certificate of authentication shall be substantially in the respective forms set forth in Exhibit A, which Exhibit is incorporated in and made part of this Indenture. The Securities
may have notations, legends or endorsements required by law, stock exchange rule or usage. The Company shall provide any such notations, legends or endorsements to the Trustee in writing. Each Security shall be dated the date of its authentication.
The terms and provisions contained in the Securities shall constitute, and are hereby expressly made, a part of this Indenture, and the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and
provisions and to be bound thereby. However, to the extent any provision of any Security conflicts with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 
  

 10 

 (b) Global Securities. All of the Securities shall be issued initially in the form of one or more
Global Securities, which shall be deposited on behalf of the purchasers of the Securities represented thereby with the Trustee, at its Corporate Trust Office, as custodian for the depositary, The Depository Trust Company (“DTC”)
(such depositary, or any successor thereto, being hereinafter referred to as the “Depositary”), and registered in the name of its nominee, Cede & Co., duly executed by the Company and authenticated by the Trustee as
hereinafter provided. 
 Each Global Security shall represent such of the outstanding Securities as shall be specified therein and each shall
provide that it shall represent the aggregate amount of outstanding Securities from time to time endorsed thereon and that the aggregate amount of outstanding Securities represented thereby may from time to time be reduced or increased, as
appropriate, to reflect exchanges, purchases or conversions of such Securities. Any adjustment of the aggregate principal amount of a Global Security to reflect the amount of any increase or decrease in the amount of outstanding Securities
represented thereby shall be made by the Trustee in accordance with instructions given by the Holder thereof as required by Section 2.12 hereof and shall be made on the records of the Trustee and the Depositary. 
 Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under this Indenture with respect to any Global
Security held on their behalf by the Depositary or under the Global Security, and the Depositary (including, for this purpose, its nominee) may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner
and Holder of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall (i) prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification,
proxy or other authorization furnished by the Depositary or (ii) impair, as between the Depositary and its Agent Members, the operation of customary practices governing the exercise of the rights of a Holder of any Security. 
 (c) Book Entry Provisions. The Company shall execute and the Trustee shall, in accordance with this Section 2.01(c), authenticate and deliver
initially one or more Global Securities that (i) shall be registered in the name of the Depositary, (ii) shall be delivered by the Trustee to the Depositary or pursuant to the Depositary’s instructions and (iii) shall bear a
legend substantially to the following effect: 
 “UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, CONVERSION OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN
THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS NOTE IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES 

  

 11 

 
DESCRIBED IN THE INDENTURE AND UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED
EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH
SUCCESSOR DEPOSITARY”. 
 Section 2.02. Execution and Authentication. An Officer shall sign the Securities for the
Company by manual or facsimile signature attested by the manual or facsimile signature of the Secretary or an Assistant Secretary of the Company. Typographic and other minor errors or defects in any such facsimile signature shall not affect the
validity or enforceability of any Security which has been authenticated and delivered by the Trustee. 
 If an Officer whose signature is on
a Security no longer holds that office at the time the Trustee authenticates the Security, the Security shall be valid nevertheless. 
 A
Security shall not be valid until an authorized signatory of the Trustee manually signs the certificate of authentication on the Security. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture.

 Subject to the third sentence of this paragraph, the Trustee shall authenticate and make available for delivery Securities for original
issue in the aggregate principal amount of up to $325,000,000 (or such greater amount necessary to reflect the exercise by the Underwriters of their option to purchase additional Securities in compliance with the Underwriting Agreement, dated June
9, 2009, between the Company and the Underwriters (the “Underwriting Agreement”) but not to exceed $373,750,000 in aggregate principal amount) upon receipt of a written order or orders of the Company signed by two Officers, at least
one of whom shall be the principal executive officer, principal financial officer or principal accounting officer of the Company (a “Company Order”). The Company Order shall specify the amount of Securities to be authenticated,
shall provide that all such Securities will be represented by a Global Security and the date on which each original issue of Securities is to be authenticated. The Company at any time or from time to time may, without the consent of any Holder,
issue additional Securities in an unlimited principal amount having the same terms (including ranking, interest rate and maturity) and having the same CUSIP number as the Securities initially issued hereunder, and entitled to all of the benefits of
this Indenture, provided that no such additional Securities may be issued unless for U.S. federal income tax purposes they are fungible with the Securities initially issued hereunder. Such additional Securities will be deemed Securities for all
purposes hereunder, including without limitation in determining the necessary Holders who may take the actions or consent to the taking of actions as specified in this Indenture. Such additional Securities, together with the Securities originally
issued hereunder, constitute a single series of Securities under this Indenture. 
 The Trustee shall act as the initial authenticating
agent. Thereafter, the Trustee may appoint an authenticating agent acceptable to the Company to authenticate Securities. An authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to
authentication by the Trustee includes authentication by such agent. An authenticating agent shall have the same rights as an Agent to deal with the Company or an Affiliate of the Company. 
  

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 The Securities shall be issuable only in registered form without coupons and only in denominations of
$1,000 principal amount and any integral multiple thereof. 
 Section 2.03. Registrar, Paying Agent and Conversion Agent. The
Company shall maintain one or more offices or agencies where Securities may be presented for registration of transfer or for exchange (each, a “Registrar”), one or more offices or agencies where Securities may be presented for
payment (each, a “Paying Agent”), one or more offices or agencies where Securities may be presented for conversion (each, a “Conversion Agent”) and one or more offices or agencies where notices and demands to or
upon the Company in respect of the Securities and this Indenture may be served. The Company will at all times maintain a Paying Agent, Conversion Agent, Registrar and an office or agency where notices and demands to or upon the Company in respect of
the Securities and this Indenture may be served in the Borough of Manhattan, The City of New York. One of the Registrars (the “Primary Registrar”) shall keep a register of the Securities and of their registration of transfer and
exchange. The Company shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. 
 The Company shall enter into an appropriate agency agreement with any Agent not a party to this Indenture. The agreement shall implement the provisions of this Indenture that relate to such Agent. The Company shall give prompt written
notice to the Trustee of the name and address of any Agent not a party to this Indenture. If the Company fails to maintain a Registrar, Paying Agent, Conversion Agent or agent for service of notices and demands in any place required by this
Indenture, or fails to give the foregoing notice, the Trustee shall act as such. The Company or any Affiliate of the Company may act as Paying Agent (except for the purposes of Section 6.01 and Article 10). 
 The Company hereby initially designates the Trustee as Paying Agent, Registrar, Custodian and Conversion Agent and each of the Corporate Trust Office of
the Trustee and the office or agency of the Trustee in the Borough of Manhattan, The City of New York, as an office or agency of the Company for each of the aforesaid purposes. 
 Section 2.04. Paying Agent to Hold Money in Trust. Prior to 11:00 a.m., New York City time, on each due date of the principal of, premium, if
any, any Additional Interest or interest on any Securities, the Company shall deposit with a Paying Agent a sum sufficient to pay such principal, premium, Additional Interest or interest so becoming due. A Paying Agent shall hold in trust for the
benefit of Securityholders or the Trustee all money held by the Paying Agent for the payment of principal of, premium or interest on the Securities, and shall notify the Trustee of any default by the Company (or any other obligor on the Securities)
in making any such payment. If the Company or an Affiliate of the Company acts as Paying Agent, it shall, before 11:00 a.m., New York City time, on each due date of the principal of, premium, if any, Additional Interest or interest on any
Securities, segregate the money and hold it as a separate trust fund for the benefit of the Securityholders. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee, and the Trustee may at any time during the
continuance of any default, upon written request to a Paying Agent, require such Paying Agent to pay forthwith to the Trustee all sums so held in trust by such Paying Agent. Upon doing so, the Paying Agent (other than the Company) shall have no
further liability for the money. 
 Section 2.05. Securityholder 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 Securityholders, and the Trustee shall otherwise comply with TIA Section 312(a). If the Trustee is not the Primary 

  

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Registrar, the Company shall furnish to the Trustee at least seven Business Days before each semiannual interest payment date, and at such other times as the
Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Securityholders, and the Company shall otherwise comply with TIA Section 312(a). 
 Section 2.06. Transfer and Exchange. 
 (a) Subject to compliance with any applicable additional requirements contained in Section 2.12, when a Security is presented to a Registrar with a request to register a transfer thereof or to exchange such Security for an equal
principal amount of Securities of other authorized denominations, the Registrar shall register the transfer or make the exchange as requested; provided, however, that every Security presented or surrendered for registration of transfer or exchange
shall be duly endorsed or accompanied by an assignment form and, if applicable, a transfer certificate each in the form included in Exhibit A, and in form satisfactory to the Registrar duly executed by the Holder thereof or its attorney duly
authorized in writing. To permit registration of transfers and exchanges, upon surrender of any Security for registration of transfer or exchange at an office or agency maintained pursuant to Section 2.03, the Company shall execute and the
Trustee shall authenticate Securities of a like aggregate principal amount at the Registrar’s request. Any exchange or registration of transfer shall be without charge, except that the Company or the Registrar may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in relation thereto, and provided, that this sentence shall not apply to any exchange pursuant to Sections 2.07, 2.10, 4.03 (last paragraph) or 11.06. 
 Neither the Company, any Registrar nor the Trustee shall be required to exchange or register a transfer of any Securities or portions thereof in respect
of which a Repurchase Exercise Notice pursuant to Section 3.08(c) hereof has been delivered and not withdrawn by the Holder thereof (except, in the case of the purchase of a Security in part, the portion thereof not to be purchased).

 All Securities issued upon any transfer or exchange of Securities shall be valid obligations of the Company, evidencing the same debt and
entitled to the same benefits under this Indenture, as the Securities surrendered upon such transfer or exchange. 
 (b) Any Registrar
appointed pursuant to Section 2.03 hereof shall provide to the Trustee such information as the Trustee may reasonably require in connection with the delivery by such Registrar of Securities upon transfer or exchange of Securities. 

(c) Each Holder agrees to indemnify the Company, each Registrar and the Trustee against any liability that may result from the registration of
transfer, exchange or assignment of such Holder’s Security in violation of any provision of this Indenture and/or applicable United States federal or state securities law. 
 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 Security (including any transfers between or among Agent Members or other beneficial owners of interests in any Global Security) other than to require delivery of
such certificates and other documentation or evidence as are 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. 
  

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 Section 2.07. Replacement Securities. If any mutilated Security is surrendered to the
Company, a Registrar or the Trustee, or the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Security, and there is delivered to the Company, the applicable Registrar and the Trustee such security or indemnity
as will be required by them to save each of them harmless, then, in the absence of notice to the Company, such Registrar or the Trustee that such Security has been acquired by a protected purchaser, the Company shall execute, and upon its written
request the Trustee shall authenticate and deliver, in exchange for any such mutilated Security or in lieu of any such destroyed, lost or stolen Security, a new Security of like tenor and principal amount, bearing a number not contemporaneously
outstanding. 
 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, or is about
to be purchased by the Company pursuant to Article 3, the Company in its discretion may, instead of issuing a new Security, pay or purchase such Security, as the case may be. 
 Upon the issuance of any new Securities under this Section 2.07, the Company may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the reasonable fees and expenses of the Trustee or the Registrar) in connection therewith. 
 Every new Security issued pursuant to this Section 2.07 in lieu of any mutilated, destroyed, lost or stolen Security shall constitute an original
additional contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all benefits of this Indenture equally and proportionately with
any and all other Securities duly issued hereunder. 
 The provisions of this Section 2.07 are (to the extent lawful) exclusive and
shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
 Section 2.08. Outstanding Securities. Securities outstanding at any time are all Securities authenticated by the Trustee, except for those canceled by it, those converted pursuant to Article 4, those
delivered to it for cancellation or surrendered for transfer or exchange and those described in this Section 2.08 as not outstanding. 
 If a Security is replaced pursuant to Section 2.07, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Security is held by a protected purchaser. 
 If a Paying Agent (other than the Company or an Affiliate of the Company) holds on a Fundamental Change Repurchase Date or the Final Maturity Date money
sufficient to pay the principal of, premium, if any, any Additional Interest and accrued interest on Securities (or portions thereof) payable on that date, then on and after such Fundamental Change Repurchase Date or the Final Maturity Date, as the
case may be, such Securities (or portions thereof, as the case may be) shall cease to be outstanding and interest on them shall cease to accrue. 
 Subject to the restrictions contained in Section 2.09, a Security does not cease to be outstanding because the Company or an Affiliate of the Company holds the Security. 
  

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 Section 2.09. Treasury Securities. In determining whether the Holders of the required
principal amount of Securities have concurred in any notice, direction, waiver or consent, Securities owned by the Company or any other obligor on the Securities or by any Affiliate of the Company or of such other obligor shall be disregarded,
except that, for purposes of determining whether the Trustee shall be protected in relying on any such notice, direction, waiver or consent, only Securities that a Responsible Officer of the Trustee actually knows are so owned shall be so
disregarded. Securities so owned that have been pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to the Securities and that the pledgee is
not the Company or any other obligor on the Securities or any Affiliate of the Company or of such other obligor. 
 Section 2.10.
Temporary Securities. Until definitive Securities are ready for delivery, the Company may prepare and execute, and, upon receipt of a Company Order, the Trustee shall authenticate and deliver, temporary Securities. Temporary Securities shall be
substantially in the form of definitive Securities but may have variations that the Company considers appropriate for temporary Securities and as shall be reasonably acceptable to the Trustee. Without unreasonable delay, the Company shall prepare
and the Trustee, upon receipt of a Company Order, shall authenticate and deliver definitive Securities in exchange for temporary Securities. 
 Holders of temporary Securities shall be entitled to all the benefits of this Indenture. 
 Section 2.11. Cancellation.
The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar, the Paying Agent and the Conversion Agent shall forward to the Trustee or its agent any Securities surrendered to them for registration of transfer,
exchange, payment or conversion. The Trustee (and no one else) shall promptly cancel, in accordance with its standard procedures, all Securities surrendered for registration of transfer, exchange, payment, conversion or cancellation and shall
dispose of canceled Securities (subject to the record retention requirements of the Exchange Act), in accordance with its standard procedures. All Securities that are repurchased by the Company in connection with a Fundamental Change prior to the
Final Maturity Date shall be delivered to the Trustee for cancellation. The Company may not hold or resell such Securities or issue new Securities to replace Securities that it has repurchased in connection with a Fundamental Change or that have
been delivered to the Trustee for cancellation. 
 Section 2.12. Additional Transfer and Exchange Requirements. 
 (a) A Global Security may not be transferred, in whole or in part, to any Person other than the Depositary or a nominee or any successor thereof, and no
such transfer to any such other Person may be registered; provided that the foregoing shall not prohibit any transfer of a Security that is issued in exchange for a Global Security but is not itself a Global Security. No transfer of a Security to
any Person shall be effective under this Indenture or the Securities unless and until such Security has been registered in the name of such Person. Notwithstanding any other provisions of this Indenture or the Securities, transfers of a Global
Security, in whole or in part, shall be made only in accordance with this Section 2.12. 
 (b) The provisions of clauses (i), (ii),
(iii) and (iv) below shall apply only to Global Securities: 
 (i) Notwithstanding any other provisions of this
Indenture or the Securities, a Global Security shall not be exchanged in whole or in part for a Security registered in the name of any 

  

 16 

 
Person other than the Depositary or one or more nominees thereof; provided that a Global Security may be exchanged for Securities registered in the
names of any person designated by the Depositary in the event that (A) the Depositary has notified the Company that it is unwilling or unable to continue as Depositary for such Global Security or such Depositary has ceased to be a
“clearing agency” registered under the Exchange Act, and a successor Depositary is not appointed by the Company within 90 days, (B) the Company has provided the Depositary with written notice that it has decided to discontinue
use of the system of book-entry transfer through the Depositary or any successor Depositary or (C) an Event of Default has occurred and is continuing. Any Global Security exchanged pursuant to clauses (A) or (B) above shall be so
exchanged in whole and not in part, and any Global Security exchanged pursuant to clause (C) above may be exchanged in whole or from time to time in part as directed by the Depositary. Any Security issued in exchange for a Global Security or
any portion thereof shall be a Global Security; provided that any such Security so issued that is registered in the name of a Person other than the Depositary or a nominee thereof shall not be a Global Security. 
 (ii) Securities issued in exchange for a Global Security or any portion thereof shall be issued in definitive, fully-registered book entry
form, without interest coupons, shall have an aggregate principal amount equal to that of such Global Security or portion thereof to be so exchanged, shall be registered in such names and be in such authorized denominations as the Depositary shall
designate and shall bear any applicable legend provided for herein. Any Global Security to be exchanged in whole shall be surrendered by the Depositary to the Trustee, as Registrar. With regard to any Global Security to be exchanged in part, either
such Global Security shall be so surrendered for exchange or, if the Trustee is acting as custodian for the Depositary or its nominee with respect to such Global Security, the principal amount thereof shall be reduced, by an amount equal to the
portion thereof to be so exchanged, by means of an appropriate adjustment made on the records of the Trustee. Upon any such surrender or adjustment, the Trustee shall authenticate and deliver the Security issuable on such exchange to or upon the
order of the Depositary or an authorized representative thereof; provided, however, that any Global Security surrendered for exchange shall be duly endorsed or accompanied by a written instrument of transfer in accordance with the
proviso to the first paragraph of Section 2.06(a). 
 (iii) Subject to the provisions of clause (v) below, the
registered Holder may grant proxies and otherwise authorize any Person, including Agent Members and persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities.

 (iv) In the event of the occurrence of any of the events specified in clause (i) above, the Company will promptly make
available to the Trustee a reasonable supply of Certificated Securities in definitive, fully registered form, without interest coupons. 
 (v) Neither Agent Members nor any other Persons on whose behalf Agent Members may act shall have any rights under this Indenture with respect to any Global Security registered in the name of the Depositary or any
nominee thereof, or under any such Global Security, and the Depositary or such nominee, as the case may be, may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner and holder of such Global
Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any 

  

 17 

 
written certification, proxy or other authorization furnished by the Depositary or such nominee, as the case may be, or impair, as between the Depositary,
its Agent Members and any other person on whose behalf an Agent Member may act, the operation of customary practices of such Persons governing the exercise of the rights of a holder of any Security. 
 (c) In the event that Certificated Securities are issued in exchange for beneficial interests in Global Securities and, thereafter, the events or
conditions specified in Section 2.12(b)(i) which required such exchange shall cease to exist, the Company shall deliver notice to the Trustee and to the Holders stating that Holders may exchange Certificated Securities for interests in Global
Securities by complying with the procedures set forth in this Indenture and briefly describing such procedures and the events or circumstances requiring that such notice be given. Thereafter, if Certificated Securities are presented by a Holder to a
Registrar with a request: 
 (i) to register the transfer of such Certificated Securities to a person who will take delivery
thereof in the form of a beneficial interest in a Global Security; or 
 (ii) to exchange such Certificated Securities for an
equal principal amount of beneficial interests in a Global Security, which beneficial interests will be owned by the Holder transferring such Certificated Securities, 
 the Registrar shall register the transfer or make the exchange as requested by canceling such Certificated Securities and causing, or directing the Custodian to cause, the aggregate principal amount of the applicable
Global Security to be increased accordingly and, if no such Global Security is then outstanding, the Company shall issue and the Trustee, upon receipt of a Company Order, shall authenticate and deliver a new Global Security; provided, however, that
the Certificated Securities presented or surrendered for registration of transfer or exchange shall be duly endorsed or accompanied by a written instrument of transfer in accordance with the proviso to the first paragraph of Section 2.06(a).

 Section 2.13. CUSIP Numbers. The Company in issuing the Securities may use one or more “CUSIP” numbers (if
then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of purchase as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such
numbers either as printed on the Securities or as contained in any notice of purchase and that reliance may be placed only on the other identification numbers printed on the Securities, and any such purchase shall not be affected by any defect in or
omission of such numbers. The Company will promptly notify the Trustee of any change in the “CUSIP” numbers. 
 Section 2.14. Repurchases. The Company may from time to time repurchase the Securities in tender offers, open market purchases or negotiated transactions at any price without prior notice to Securityholders. 
 ARTICLE 3 
 PURCHASES

 Section 3.01. [Reserved] 
 Section 3.02. [Reserved] 
  

 18 

 Section 3.03. [Reserved] 
 Section 3.04. [Reserved] 
 Section 3.05. [Reserved] 
 Section 3.06. [Reserved] 
 Section 3.07. [Reserved] 
 Section 3.08. Repurchase at Option of the Holder upon a Fundamental Change. 
 (a) Subject to the satisfaction of the
requirements of this Section 3.08, if a Fundamental Change occurs, each Holder will, upon receipt of the notice of the occurrence of a Fundamental Change described in Section 3.08(b), have the right to require the Company to repurchase for
cash any or all of such Holder’s Securities, or any portion of those Securities that is equal to $1,000 or an integral multiple of $1,000, on the date (the “Fundamental Change Repurchase Date”) that is 45 days after the date
the Company gives the Fundamental Change Repurchase Notice at a price equal to 100% of the principal amount of the Securities to be repurchased plus accrued and unpaid interest, if any, to (but excluding) the Fundamental Change Repurchase Date (the
“Fundamental Change Repurchase Price”). 
 (b) Within 30 days after the occurrence of a Fundamental Change, the Company
shall provide to all Holders of the Securities, the Trustee and the Paying Agent a notice of the occurrence of the Fundamental Change and of the resulting repurchase right (the “Fundamental Change Repurchase Notice”). 
 (c) To exercise the repurchase right in connection with a Fundamental Change, a Holder must, prior to 5:00 p.m., New York City time, on the 30th day
after the date of the Fundamental Change Repurchase Notice, deliver the Securities to be repurchased to the Paying Agent, duly endorsed for transfer, or effect book-entry transfer of the Securities to the Paying Agent, and must deliver a written
notice of repurchase (a “Repurchase Exercise Notice”), substantially in the form included in Exhibit A hereto, duly completed to the Paying Agent. The Repurchase Exercise Notice must state: 
 (i) if the Securities are certificated, the certificate numbers of the Securities to be delivered for repurchase; 
 (ii) the portion of the principal amount of the Securities to be repurchased, which must be equal to $1,000 or an integral multiple
thereof; and 
 (iii) that the Securities are to be repurchased by the Company as of the Fundamental Change Repurchase Date
pursuant to the applicable provisions of the Securities and this Indenture. 
 If the Securities are not in certificated form, the Repurchase
Exercise Notice must comply with the Applicable Procedures. 
  

 19 

 A Holder may withdraw any Repurchase Exercise Notice (in whole or in part) by a written notice of
withdrawal delivered to the Paying Agent prior to 5:00 p.m., New York City time, on the Fundamental Change Repurchase Date. The notice of withdrawal must state: 
 (i) the principal amount of the Securities for which the Repurchase Exercise Notice has been withdrawn; 
 (ii) if certificated Securities have been issued, the certificate numbers of the withdrawn Securities; and 
 (iii) the principal amount, if any, that remains subject to the Repurchase Notice. 
 If the Securities are not in certificated form, the withdrawal notice must comply with the Applicable Procedures. 
 (d) The Company shall promptly pay the Fundamental Change Repurchase Price for Securities surrendered for repurchase following the Fundamental Change
Repurchase Date. 
 Section 3.09. Compliance with Securities Laws upon Purchase of Securities. In connection with any offer to
purchase or purchase of Securities under Section 3.08, the Company shall comply with all tender offer rules applicable to the Company under the Exchange Act. The Company shall (a) comply with Rule 13e-4 and Rule 14e-l (or any successor to
either such Rule), if applicable, under the Exchange Act, (b) file the related Schedule TO (or any successor or similar schedule, form or report) if required under the Exchange Act, and (c) otherwise comply with all federal and state
securities laws in connection with such offer to purchase or purchase of Securities, all so as to permit the rights of the Holders and obligations of the Company under Sections 3.08 and 4.08 to be exercised in the time and in the manner specified
therein. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Section 3.09, the Company will comply with the applicable securities laws and regulations and will not be deemed to have
breached its obligations under this Section 3.09 by virtue of such conflict. 
 Section 3.10. Repayment to the Company. To
the extent that the aggregate amount of cash deposited by the Company pursuant to Section 3.08 exceeds the aggregate Fundamental Change Repurchase Price together with interest, if any, thereon of the Securities or portions thereof that the
Company is obligated to purchase, then promptly after the Fundamental Change Repurchase Date, the Trustee or a Paying Agent, as the case may be, shall return any such excess cash to the Company. 
 ARTICLE 4 
 CONVERSION

 Section 4.01. Right to Convert. (a) Subject to and upon compliance with the provisions of this Indenture, at any time
prior to the Close of Business on the second Scheduled Trading Day immediately preceding the Final Maturity Date, a Holder of any Security shall have the right, at such Holder’s option, to convert the Security, unless such Security has been
previously repurchased, at the Conversion Rate only upon the occurrence of one of the following events: 
 (i) during any
fiscal quarter (and only during such fiscal quarter) after the quarter ending September 30, 2009, if the Sale Price of the Common Stock exceeds 130% of the 

  

 20 

 
Applicable Conversion Price per share of 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 fiscal quarter; 
 (ii) during the five Business Day period immediately after any ten
consecutive Trading Day period (the “Measurement Period”) in which the Trading Price per $1,000 principal amount of Securities (as determined following a request by a Holder of Securities as set forth below) for each day of such
Measurement Period was less than 98% of the product of the Sale Price of the Common Stock on the applicable date and the Applicable Conversion Rate; 
 (iii) if (A) the Company (1) elects to distribute to all holders of the Common Stock rights or warrants entitling them to purchase, for a period expiring within 60 days after the distribution of such rights
or warrants, shares of Common Stock at a price per share that is less than the average Sale Price of a share of Common Stock over the five consecutive Trading Day period ending on the Trading Day immediately preceding the announcement of the
distribution, or (2) elects to distribute to all holders of Common Stock cash, assets, debt securities or certain rights to purchase its securities, which distribution has a per share value as determined in good faith by the Company’s
Board of Directors exceeding 10% of the average Sale Price of a share of Common Stock for the five consecutive Trading Day period ending on the Trading Day immediately preceding the announcement of the distribution, then, in either case, the Company
shall notify the Holders at least 20 Scheduled Trading Days prior to the Ex-Dividend Date for such distribution. After the Company has given such notice, the Securities may be surrendered for conversion at any time until the earlier of the Close of
Business on the Business Day immediately preceding the Ex-Dividend Date or the date the Company publicly announces that such distribution will not take place, even if the Securities are not otherwise convertible at such time; provided that no Holder
of Securities may elect this right to convert if the Holder otherwise may participate in the distribution without conversion; or 
 (B) a transaction described in clause (b) of the definition of Change of Control occurs, then the Securities may be surrendered for conversion at any time from and after the date that is 40 Scheduled Trading Days prior to the
anticipated effective date of the transaction through and including the date that is 40 Scheduled Trading Days after the actual effective date of such transaction or, if earlier, until the Fundamental Change Repurchase Date corresponding to such
Fundamental Change, and the Company shall notify the Holders and the Trustee as promptly as practicable following the date of public announcement of such transaction; or 
 (C) a transaction described in clause (a) of the definition of Change of Control occurs, then the Securities may be surrendered for
conversion at any time from and after the actual effective date of such Fundamental Change through and including the date that is 30 days after such actual effective date or, if earlier, until the Fundamental Change Repurchase Date corresponding to
such Fundamental Change. 
 (iv) [Reserved] 
 (v) at any time on or after March 15, 2016 (the “Final Notice Date”). 
  

 21 

 Upon receipt by the Conversion Agent of a Conversion Notice from a Holder of Securities pursuant to
clause (i) above, the Conversion Agent shall inform the Company of such request and the Company shall thereupon furnish to the Conversion Agent an Officers’ Certificate stating whether the Securities are then convertible pursuant to clause
(i) above and setting forth in reasonable detail the Company’s basis for such determination. Upon receipt of such Officers’ Certificate, if the Company has determined that the Securities are then convertible in accordance with clause
(i) above, the Conversion Agent shall, based solely on its review of the information contained in such Officer’s Certificate, confirm or refute the Company’s determination. If the Conversion Agent confirms that the Securities are then
convertible pursuant to clause (i) above, the Conversion Agent shall promptly deliver written notice thereof to the Company (and, if the Conversion Agent is other than the Trustee, to the Trustee). In any event, the Company shall be obligated
at all times to determine whether the Securities shall be convertible as a result of the occurrence of an event specified in clause (i) above. 
 The Trustee shall have no obligation to determine the Trading Price of the Securities under clause (ii) above unless the Company has requested such determination; and the Company shall have no obligation to make such request unless a
Holder of Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Securities would be less than 98% of the product of the Sale Price of the Common Stock and the Applicable Conversion Rate. If
such evidence is provided, the Company shall instruct the Trustee to determine the Trading Price of the Securities beginning on the next Trading Day and on each successive Trading Day until the Trading Price of the Securities is greater than or
equal to 98% of the product of the Sale Price of the Common Stock and the Applicable Conversion Rate. 
 At the effective date of the
transaction as set forth under clause (iii) above, the value of cash and/or shares of Common Stock delivered at settlement will be subject to adjustment as set forth in Sections 4.07 and/or 4.08, determined in accordance with Section 4.10 to
the extent applicable. 
 (b) A Security in respect of which a Holder is electing to exercise its option to require repurchase upon a
Fundamental Change pursuant to Section 3.08 may be converted only if such holder withdraws its election in accordance with Section 3.08(c). A Holder of Securities is not entitled to any rights of a holder of Common Stock until such Holder
has converted such Securities for Common Stock, and received shares of Common Stock in respect thereof. 
 Section 4.02. Conversion
Rate. Each $1,000 principal amount of Securities shall be convertible into 11.8599 shares of Common Stock (the “Conversion Rate”), subject to adjustment as provided in this Article 4. The Company may choose to deliver, in lieu
of shares of Common Stock, cash or a combination of cash and shares of Common Stock as set forth in Section 4.04. 
 Section 4.03. Conversion Procedures. To convert a Security, a Holder must (a) complete and manually sign the conversion notice on the back of the Security (“Conversion Notice”) or a facsimile of the
Conversion Notice and deliver such notice to a Conversion Agent, (b) surrender the Security to a Conversion Agent, (c) furnish appropriate endorsements and transfer documents if required by a Registrar or a Conversion Agent, (d) pay
any transfer or similar tax, if required and (e) pay funds equal to interest payable on the next interest payment date, if required. The date on which the Holder satisfies all of those 

  

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requirements is the “Conversion Date”. Anything herein to the contrary notwithstanding, in the case of Global Securities, Conversion Notices
may be delivered and such Securities may be surrendered for conversion in accordance with the Applicable Procedures as in effect from time to time. 
 Upon conversion of a Security, a Holder will not receive any cash payment of interest (unless such conversion occurs between a Record Date and the related Interest Payment Date), and the Company will not adjust the Applicable Conversion
Rate to account for accrued and unpaid interest on the Security being converted. Delivery to the Holder of the full number of shares of Common Stock into which the Security is convertible, or cash or a combination of shares of Common Stock and cash,
including at the Company’s election, any cash payment for fractional shares pursuant to Section 4.06, will be deemed to satisfy the Company’s obligation with respect to such Security. Any accrued but unpaid interest will be deemed to
be paid in full upon conversion rather than canceled, extinguished or forfeited. 
 Holders of Securities at the close of business on a
Record Date will receive payment of interest payable on the related Interest Payment Date notwithstanding the conversion of such Securities at any time after 5:00 p.m., New York City time, on the Record Date and prior to the related Interest Payment
Date. Securities or portions thereof surrendered for conversion during the period from 5:00 p.m., New York City time, on a Record Date to 5:00 p.m., New York City time, on the Business Day immediately preceding the related Interest Payment Date
shall be accompanied by payment to the Company or its order, in immediately available funds or other funds acceptable to the Company, of an amount equal to the interest payable on such Interest Payment Date with respect to the principal amount of
Securities or portions thereof being surrendered for conversion; provided that no such payment need be made (1) following 5:00 p.m., New York City time, on the regular Record Date immediately preceding the final Interest Payment Date,
(2) if the Company has specified a Fundamental Change Repurchase Date that occurs during the period from 5:00 p.m., New York City time, on a Record Date to 5:00 p.m., New York City time, on the related Interest Payment Date, or (3) to the
extent any overdue interest exists on the Conversion Date with respect to the Securities converted, but only to the extent of such overdue interest. 
 If a Holder converts more than one Security at the same time, the number of shares of Common Stock issuable upon the conversion shall be based on the aggregate principal amount of Securities converted. 
 Upon surrender of a Security that is converted in part, the Company shall execute, and the Trustee shall authenticate and deliver to the holder, a new
Security equal in principal amount to the principal amount of the unconverted portion of the Security surrendered. 
 Section 4.04.
Payment upon Conversion. Upon the conversion of a Security, subject to Section 4.03, the Company shall pay cash and/or deliver shares of Common Stock, as set forth below, to the Holder through the Conversion Agent. No payment or adjustment
shall be made for dividends on, or other distributions with respect to, any Common Stock except as provided in this Article 4. 
  

 23 

 (a) If the Company receives a Conversion Notice prior to the Final Notice Date, subject to
Section 4.04(c), the following procedures shall apply: 
 If the Company elects to satisfy all or any portion of its obligation to
convert the Securities (the “Conversion Obligation”) in cash (a “Cash Election”), the Company will notify the Holder through the Trustee of the dollar amount to be satisfied in cash (which shall be expressed either
as 100% of the Conversion Obligation or as a fixed dollar amount) at any time on or before the date that is two Scheduled Trading Days following the Conversion Date (the “Cash Settlement Notice Period”). If the Company timely makes
a Cash Election, Holders of Securities may retract their Conversion Notices at any time during the two Scheduled Trading Day period following the final day of the Cash Settlement Notice Period (the “Conversion Retraction Period”).
Upon the expiration of a Conversion Retraction Period, a Conversion Notice shall be irrevocable. No such retraction can be made (and a Conversion Notice shall be irrevocable) if the Company does not elect to deliver cash in lieu of Common Stock
(other than cash in lieu of fractional shares). Settlement (in cash or in cash and shares of Common Stock) following a Cash Election will occur on the third Scheduled Trading Day following the final day of the 25 Trading Day period beginning on the
Trading Day after the final day of the Conversion Retraction Period (the “Cash Settlement Averaging Period”). 
 If the
Company does not elect to satisfy any part of the Conversion Obligation in cash (other than cash in lieu of any fractional shares) (a “Share Election”), delivery of shares of Common Stock into which the Securities are converted (and
cash in lieu of any fractional shares) will be made through the Conversion Agent or the Depositary, as the case may be, on the third Scheduled Trading Day after the Conversion Date. 
 Settlement amounts will be computed as follows: 
 (i) If the Company makes a Share Election, it will deliver to Holders surrendering Securities for conversion a number of shares of Common Stock equal to (a) the aggregate original principal amount of Securities
to be converted divided by $1,000 multiplied by (b) the Applicable Conversion Rate. 
 (ii) If the Company makes a Cash
Election and elects to satisfy its Conversion Obligation solely in cash, the Company will deliver to the converting Holder, in respect of each $1,000 principal amount of notes being converted, cash in an amount equal to the sum of the Daily
Conversion Values for each of the 25 consecutive Trading Days during the related Cash Settlement Averaging Period. 
 (iii) If
the Company makes a Cash Election and elects to satisfy in cash a fixed portion of the Conversion Obligation (including if the Company irrevocably elects to satisfy its conversion obligation for the remaining term of the Securities in cash for 100%
of the principal amount of Securities converted (an “Irrevocable Election”)), the Company will deliver to Holders, for each $1,000 principal amount of Securities surrendered for conversion, a sum equal to the following for each of
the 25 consecutive Trading Days during the related Cash Settlement Averaging Period: 
  

	 	(A)	cash in an amount equal to the lesser of (x) the dollar amount per note to be received upon conversion as specified by the Company in the notice regarding the chosen settlement
method (the “Specified Cash Amount”), if any, divided by 25 (such quotient, the “Daily Measurement Value”) and (y) the Daily Conversion Value; and 

  

 24 

	 	(B)	to the extent the Daily Conversion Value exceeds the Daily Measurement Value, a number of shares of its Common Stock equal to the Daily Share Amount for such Trading Day.

 The Company will pay cash for all fractional shares of Common Stock in an amount, (i) in the case of the foregoing
clause (i), based on the Sale Price of the Common Stock on the Trading Day immediately preceding the Conversion Date, and (ii) in the case of the foregoing clause (iii), based on the Volume Weighted Average Price per share of the Common Stock
on the last Scheduled Trading Day of the applicable Cash Settlement Averaging Period. 
 (b) If the Company receives a Conversion Notice on
or after the Final Notice Date, the following procedures shall apply: 
 If the Company
makes a Cash Election, the Company will not send individual notices of such election. Instead, if the Company makes a Cash Election, the Company will send a single notice to Holders indicating the dollar amount to be satisfied in cash (which shall
be expressed either as 100% of the Conversion Obligation or as a fixed dollar amount). Holders will not be allowed to retract their Conversion Notices. Settlement amounts will be computed in the same manner as set forth under paragraph
(a) above, except that the Cash Settlement Averaging Period shall be the 25 consecutive Trading Day period beginning on the 27th Scheduled
Trading Day immediately preceding the Final Maturity Date. Settlement (in cash and/or shares of Common Stock) will occur on the third Scheduled Trading Day following the final Trading Day of such Cash Settlement Averaging Period. 
 If the Company does not make a Cash Election, delivery of shares of its Common Stock into which the Securities are converted (and cash in lieu of any
fractional shares) will occur through the Conversion Agent or DTC, as the case may be, as described above, on the date that settlement would have occurred had the Company elected to make a Cash Election, and cash payments for any fractional shares
will be based on the Volume Weighted Average Price per share of the Common Stock on the last Trading Day of the Cash Settlement Averaging Period that would have applied had the Company elected to make a Cash Election. 
 (c) If the Company makes the Irrevocable Election, the following procedures shall apply: 
 If the Company chooses to satisfy all or any portion of the Conversion Value in excess of $1,000 in cash, the Company will provide notice of such election
in the same manner as set forth above under either clause (a) or (b), as applicable. If the Company chooses to satisfy all of the Conversion Value in excess of $1,000 in shares of Common Stock, notice of election to deliver cash for the
principal amount will be deemed to have been provided on the last date of the Cash Settlement Notice Period and a Holder will not be allowed to retract its Conversion Notice. Settlement amounts will be computed and settlement dates will be
determined in the same manner as set forth above under either clause (a) or (b), as applicable. 
 Section 4.05. Exchange in
Lieu of Conversion. (a) In lieu of its obligations pursuant to Section 4.04, the Company may, at its option, direct the Conversion Agent to surrender, on or prior to the second 

  

 25 

 
Business Day following the conversion date, Securities tendered for conversion to a financial institution (the “Financial Institution”)
designated by the Company for exchange in lieu of conversion. In order to accept any Securities surrendered for conversion, the Financial Institution must agree to deliver, in exchange for the Securities, cash, shares of Common Stock or a
combination of cash and shares of Common Stock, equal to the consideration due upon conversion in accordance with Section 4.04 above. By 5:00 p.m., New York City time, on the second Business Day immediately following the Conversion Date, the
Company will notify the Holder surrendering Securities for conversion that it has designated a Financial Institution to make an exchange in lieu of conversion and such Financial Institution will be required to notify the Conversion Agent whether it
will deliver, upon exchange, cash, shares of Common Stock or a combination of cash and shares of Common Stock. 
 If the Financial
Institution accepts any such Securities, it shall deliver cash, shares of Common Stock, or combination of cash and Common Stock, as the case may be, to the Conversion Agent and the Conversion Agent shall deliver such cash, shares of Common Stock, or
combination of cash and Common Stock, as the case may be, to the Holder who has tendered such Securities for conversion. If the Financial Institution agrees to accept any Securities for exchange but does not timely deliver the related consideration,
or if the Financial Institution does not accept the Securities for exchange, the Company shall, as promptly as practical thereafter, convert such Securities into cash, shares of Common Stock, or a combination of cash and shares of Common Stock, if
any, as provided in Section 4.04 above. 
 The Company’s designation of a financial institution to which the Securities may be
submitted for exchange does not require the institution to accept any Securities. The Company will not pay consideration to, or otherwise enter into any agreement with, the Financial Institution for or with respect to such designation. 

Section 4.06. Cash Payments in Lieu of Fractional Shares. No fractional shares of Common Stock or scrip certificates representing
fractional shares shall be issued upon conversion of Securities. If more than one Security shall be surrendered for convert at one time by the same Holder, the number of full shares of Common Stock that shall be issuable upon conversion shall be
computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof to the extent permitted hereby) so surrendered. 
 Section 4.07. Adjustment of Conversion Rate. (a) The Conversion Rate shall be adjusted, and thereafter the Applicable Conversion Rate shall be adjusted, from time to time by the Company as follows:

 (i) In case the Company shall issue shares of Common Stock as a dividend or distribution on its Common Stock or subdivide
or combine its outstanding Common Stock, the Applicable Conversion Rate shall be adjusted based on the following formula: 
  

					
	CR1 = CR0 x 	 	OS1	  	
	 	OS0	  	

 where, 
  

 26 

							
		  	CR0	  	=	  	the Applicable Conversion Rate in effect immediately prior to the Ex Date for such dividend or distribution or the effective date of such subdivision or combination, as the case may
be;
				
		  	CR1	  	=	  	the Applicable Conversion Rate in effect immediately on and after the Ex Date for such dividend or distribution or the effective date of such subdivision or combination, as the case may
be;
				
		  	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the Ex Date for such dividend or distribution or the effective date of such subdivision or combination, as the case may be;
and
				
		  	OS1 	  	=	  	the number of shares of Common Stock outstanding immediately on and after the Ex Date for such dividend or distribution or the effective date of such subdivision or combination, as the case may
be.

 Such adjustment shall become effective immediately after 9:00 a.m., New York City time, on the
Business Day following the Ex Date for such dividend, distribution, subdivision or combination. The Company will not pay any dividend or make any distribution on shares of Common Stock held in treasury by the Company. If any dividend or distribution
of the type described in this Section 4.07(a)(i) is declared but not so paid or made, or the outstanding shares of Common Stock are not subdivided or combined, as the case may be, the Conversion Rate shall again be adjusted to the Conversion
Rate which would then be in effect if such dividend, distribution, subdivision or combination had not been declared. 
 (ii)
In case the Company shall issue rights or warrants to all holders of Common Stock entitling them (for a period expiring within 60 days from the date of issuance of such rights or warrants) to subscribe for or purchase shares of Common Stock at a
price per share that is less than the average Sale Prices of a share of Common Stock over the ten consecutive Trading Day period ending on and including the Trading Day immediately preceding the date of announcement of such issuance, the Conversion
Rate will be adjusted based on the following formula: 
  

					
	CR1 = CR0 x 	 	OS0 +X	  	
	 	OS0 +Y	  	

 where, 
  

							
		 	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Ex Date for such event;
				
		 	CR1	  	=	  	the Conversion Rate in effect immediately on and after the Ex Date for such event;
				
		 	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the Ex Date for such event;
				
		 	X	  	=	  	the total number of shares of Common Stock issuable pursuant to such rights or warrants; and

  

 27 

							
				
		 	Y	  	=	  	the number of shares of Common Stock equal to the aggregate price payable to exercise such rights or warrants divided by the average sale prices of the Common Stock over the 10 consecutive
Trading Day period ending on and including the Trading Day immediately preceding the announcement of such issuance.

 Such adjustment shall be successively made whenever any such rights or warrants are issued and
shall become effective immediately after 9:00 a.m., New York City time, on the Business Day following the Ex Date of such issuance. 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 Rate shall be readjusted to the Conversion Rate which would then be in effect had the adjustments made upon the issuance of such rights or warrants been made on the basis of the delivery of
only the number of shares of Common Stock actually delivered. In the event that such rights or warrants are not so issued, the Conversion Rate shall again be adjusted to be the Conversion Rate which would then be in effect if the announcement with
respect to such rights, warrants or convertible securities had not been made. 
 In determining whether any rights or warrants entitle the
holders to subscribe for or purchase shares of Common Stock at less than the average Sale Prices per share of Common Stock over the ten consecutive Trading Day period ending on and including the Trading Day immediately preceding the date of
announcement of such issuance, and in determining the aggregate price payable to exercise such rights or warrants 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 on exercise thereof, the value of such consideration, if other than cash, to be determined in good faith by the Board of Directors. 
 (iii) In case the Company shall dividend or distribute to all holders of its Common Stock any securities (other than Common Stock), evidences of indebtedness, assets or properties (excluding (x) any dividend,
distribution or issuance covered by clause (i) or (ii) of this Section 4.07(a) and (y) any dividend or distribution paid exclusively in cash) (any of such shares of capital stock, evidence of indebtedness or assets or properties
hereinafter called the “Distributed Property”), then in each such case the Conversion Rate shall be adjusted based on the following formula: 
  

					
	 CR
1 =
CR0 x
	 	SP0	  	
	 	 	  	
	 	SP0 – FMV	  	

 where, 
  

							
		  	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Ex Date for such distribution;
				
		  	CR1	  	=	  	the Conversion Rate in effect immediately on and after the Ex Date for such distribution;
				
		  	SP0	  	=	  	the Current Market Price of the Common Stock; and
				
		  	FMV	  	=	  	the fair market value (as determined in good faith by the Board of Directors of the Company) of the securities, evidences of indebtedness, assets or property dividended or distributed with
respect to each outstanding share of Common Stock on the Ex Date for such dividend or distribution.

  

 28 

 Such adjustment shall become effective immediately prior to 9:00 a.m., New York City time, on the
Business Day following the Ex Date; provided that if the then fair market value (as so determined) of the portion of the Distributed Property so distributed applicable to one share of Common Stock is equal to or greater than SP0 as set forth
above, in lieu of the foregoing adjustment, adequate provision shall be made so that each Holder shall have the right to receive, for each $1,000 principal amount of Securities upon conversion, the amount of Distributed Property such Holder would
have received had such Holder owned a number of shares of Common Stock equal to the Conversion Rate on the record date. If such dividend or distribution is not so paid or made, the Conversion Rate shall again be adjusted to be the Conversion Rate
that would then be in effect if such record date had not been fixed. If the Board of Directors determines the fair market value of any distribution for purposes of this Section 4.07(a)(iii) by reference to the actual or when issued trading
market for any securities, it shall in doing so consider the prices in such market over the same period used in computing the Current Market Price. 
 With respect to an adjustment pursuant to this clause (iii) where there has been a payment of a dividend or other distribution on the Common Stock or shares of capital stock of, or similar equity interests of, a Subsidiary or other
business unit of the Company (a “Spin-Off”, and any such dividend or distribution of Common Stock, shares of capital stock or equity interests being “Spin-Off Securities”), in which event the Conversion Rate will be
adjusted based on the following formula: 
  

					
	 CR1 = CR0 X
	 	FMV0 +MP0	  	
	 	 	  	
	 	MP0	  	

 where, 
  

							
		 	CR0	  	=	  	the Conversion Rate in effect immediately prior to the open of business on the effective date of the Spin-Off;
				
		 	CR1	  	=	  	the Conversion Rate in effect immediately after the open of business on the effective date of the Spin-Off;
				
		 	FMV0	  	=	  	the average of the sale prices of the capital stock or similar equity interest distributed to holders of Common Stock applicable to one share of Common Stock over the 10 consecutive Trading Days
commencing on and including the effective date of the Spin-Off (the “Valuation Period”); and
				
		 	MP0	  	=	  	the average of the sale prices of the Common Stock over the 10 consecutive Trading Days commencing on and including the effective date of the Spin-Off.

 The adjustment to the Applicable Conversion Rate under the preceding paragraph of this
clause (iii) will be made immediately after the open of business on the day after the last day of the Valuation Period, but will be given effect as of the open of business on the effective date for the Spin-Off. If the effective date for the
Spin-Off is less than 10 Scheduled Trading Days prior to, and including, the end of the Cash Settlement Averaging Period in respect of any conversion, references within this clause (iii) to 10 

  

 29 

 
Trading Days shall be deemed replaced, for purposes of calculating the affected Daily Conversion Rates in respect of that conversion, with such lesser number
of Trading Days as have elapsed from, and including, the effective date for the Spin-Off to, and including, the last Trading Day of such Cash Settlement Averaging Period. For purposes of determining the Applicable Conversion Rate, in respect of any
conversion during the 10 Trading Days commencing on the effective date for any Spin-Off, references within the portion of this clause (iii) related to “Spin-Offs” to 10 Trading Days shall be deemed replaced with such lesser number of
Trading Days as have elapsed from, and including, the effective date for such Spin-Off to, but excluding, the Conversion Date for such conversion. 
 In the event that the Company has in effect a preferred shares rights plan (“Rights Plan”), upon conversion of the Securities for Common Stock, to the extent that the Rights Plan is still in effect upon such conversion, the
Holders of Securities will receive, in addition to the Common Stock, the rights described therein (whether or not the rights have separated from the Common Stock at the time of conversion), subject to the limitations set forth in the Rights Plan. If
the Rights Plan provides that upon separation of rights under such plan from the Common Stock that the Holders would not be entitled to receive any such rights in respect of the Common Stock issuable upon conversion for the Securities, the
Conversion Rate will be adjusted at the time of separation as provided in this Section 4.07(a)(iii) (with such separation deemed to be the distribution of such rights), subject to readjustment in the event of the expiration, termination or
redemption of the rights. Any distribution of rights or warrants pursuant to a Rights Plan that would allow a Holder to receive upon conversion, in addition to the Common Stock, the rights described therein (whether or not the rights have separated
from the Common Stock at the time of conversion), shall not constitute a distribution of rights or warrants pursuant to this Section 4.07. 
 Rights or warrants distributed by the Company to all holders of Common Stock entitling the holders thereof to subscribe for or purchase shares of 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 4.07 (and no adjustment to the Conversion Rate under this Section 4.07 will 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 (if any is required) to the Conversion Rate shall be made under this clause (iii) of Section 4.07. If any such right or
warrant, including any such existing rights or warrants distributed prior to the date of this Indenture, are subject to events, upon the occurrence of which such rights or warrants become exercisable to purchase different securities, evidences of
indebtedness or other assets or properties, then the date of the occurrence of any and each such event shall be deemed to be the date of distribution and record date with respect to new rights or warrants with such rights (and a termination or
expiration of the existing rights or warrants without exercise by any of the holders thereof). In addition, in the event of any distribution (or deemed distribution) of rights or warrants, or any Trigger Event or other event (of the type described
in the preceding sentence) with respect thereto that was counted for purposes of calculating a distribution amount for which an adjustment to the Conversion Rate under this Section 4.07 was made, (1) in the case of any such rights or
warrants which shall all have been repurchased without exercise by any holders thereof, the Conversion Rate shall be readjusted upon such 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 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 repurchase, and (2) in the case of such rights or warrants which shall have expired or been terminated without 

  

 30 

 
exercise by any holders thereof, the Conversion Rate shall be readjusted as if such rights and warrants had not been issued. 
 (iv) In case the Company shall, by dividend or otherwise, at any time distribute (a “Triggering Distribution”) to all
holders of its Common Stock cash, the Conversion Rate shall be adjusted based on the following formula: 
  

							
		  	CR1 = CR0 x   
	  	SP0	  	
		  	  	SP0 – C	  	

 where 
  

							
		 	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Ex Date for such distribution;
				
		 	CR1	  	=	  	the Conversion Rate in effect immediately on and after the Ex Date for such distribution;
				
		 	SP0	  	=	  	the Current Market Price of the Common Stock; and
				
		 	C	  	=	  	the amount in cash per share distributed by the Company to holders of the Common Stock.

 Such adjustment shall become effective immediately after 5:00 p.m., New York City time, on the Ex
Date for such Triggering Distribution; provided that if the portion of the cash so distributed applicable to one share of Common Stock is equal to or greater than SP0 as set forth above, in lieu of the foregoing adjustment, adequate provision
shall be made so that each Holder shall have the right to receive, for each $1,000 principal amount upon conversion, the amount of cash such Holder would have received had such Holder owned a number of shares of Common Stock equal to the Conversion
Rate on the record date. If such Triggering Distribution is not so paid or made, the Conversion Rate shall again be adjusted to be the Conversion Rate that would then be in effect if such dividend or distribution had not been declared. 

For the avoidance of doubt, for purposes of this Section 4.07(a)(iv), in the event of any reclassification of the Common Stock, as a result of
which the Securities become convertible into more than one class of Common Stock, if an adjustment to the Conversion Rate is required pursuant to this Section 4.07(a)(iv), references in this Section to one share of Common Stock or Current
Market Price of one share of Common Stock shall be deemed to refer to a unit or to the price of a unit consisting of the number of shares of each class of Common Stock into which the Securities are then convertible equal to the numbers of shares of
such class issued in respect of one share of Common Stock in such reclassification. The above provisions of this paragraph shall similarly apply to successive reclassifications. 
 It is expressly understood that a stock buyback, repurchase or similar transaction or program shall in no event be considered a distribution for purposes
of clauses (iii) and (iv) of Section 4.07. 
 (v) In case the Company or one or more of its Subsidiaries shall
purchase any shares of Common Stock by means of a tender offer or exchange offer by the Company or one of its Subsidiaries for the Common Stock (other than Exchange Offers not subject to Rule 13e-4 of the 

  

 31 

 
Exchange Act), to the extent that the cash and value of any other consideration included in the payment per share of Common Stock exceeds the average Sale
Prices of a share of Common Stock over the 10 consecutive Trading Days commencing on and including the Trading Day immediately succeeding the last date on which tenders or exchanges may be made pursuant to such tender or exchange offer (the
“Expiration Date”), the Conversion Rate shall be adjusted based on the following formula: 
  

							
		  	CR1 = CR0 x   
	  	FMV + (SP1 x OS1)	  	
		  	  	OS0 x SP1	  	

 where, 
  

							
		 	CR0	  	=	  	the Conversion Rate in effect immediately prior to the open of business on the Trading Day next succeeding the Expiration Date;
				
		 	CR1	  	=	  	the Conversion Rate in effect immediately after the open of business on the Trading Day next succeeding the Expiration Date;
				
		 	FMV	  	=	  	the fair market value (as determined in good faith by the Board of Directors of the Company) of the aggregate value of all cash and any other consideration paid or payable for shares validly
tendered or exchanged and not withdrawn as of the Expiration Date;
				
		 	OS1	  	=	  	the number of shares of the Common Stock outstanding immediately after the Expiration Date (after giving effect to the purchase or exchange of shares pursuant to such tender or exchange offer);

				
		 	OS0	  	=	  	the number of shares of Common Stock outstanding immediately after the Expiration Date (without giving effect to the purchase or exchange of shares pursuant to such tender or exchange offer);
and
				
		 	SP1	  	=	  	the average of the sale prices a share of Common Stock for the 10 consecutive Trading Days commencing on and including the Trading Day immediately succeeding the Expiration
Date.

 The adjustment to the Conversion Rate under the preceding paragraph of this clause (v) will
be given effect at the open of business on the Trading Day next succeeding the Expiration Date. If the Trading Day next succeeding the Expiration Date is less than 10 Scheduled Trading Days prior to, and including, the end of the Cash Settlement
Averaging Period in respect of any conversion, references within this clause (v) to 10 Trading Days shall be deemed replaced, for purposes of calculating the affected Daily Conversion Rates in respect of that conversion, with such lesser number
of Trading Days as have elapsed from, and including, the Trading Day next succeeding the Expiration Date to, and including, the last Trading Day of such Cash Settlement Averaging Period. For purposes of determining the Applicable Conversion Rate, in
respect of any conversion during the 10 Trading Days commencing on the Trading Day next succeeding the Expiration Date, references within this clause (v) to 10 Trading Days shall be deemed replaced with such lesser number of Trading Days as
have elapsed from, and including, the Trading Day next succeeding the Expiration Date to, but excluding, the Conversion Date for such conversion. 
  

 32 

 In the event that the Company is obligated to purchase shares pursuant to any such tender offer, but the
Company is permanently prevented by applicable law from effecting any or all such purchases or any or all such purchases are rescinded, the Conversion Rate shall again be adjusted to be the Conversion Rate which would have been in effect based upon
the number of shares actually purchased. If the application of this clause (v) of Section 4.07(a) to any tender or exchange offer would result in a decrease in the Conversion Rate, no adjustment shall be made for such tender or exchange
offer under this Section 4.07(a)(v). 
 (b) No adjustment in the Conversion Rate shall be made: 
 (i) unless such adjustment would require a change of at least 1% in the Applicable Conversion Rate, provided, however, the Company shall
carry forward any adjustments that are less than 1% of the Conversion Rate and take them into account in any subsequent adjustment of the Conversion Rate or in connection with any conversion of the Securities; 
 (ii) for any issuance of Common Stock or convertible or exchangeable securities or rights to purchase Common Stock or convertible of
exchangeable securities, except in accordance with Section 4.07(a) above; or 
 (iii) if the Holders are permitted to
participate, without converting their Securities, in the transactions described in clauses (i) through (v) of Section 4.07(a) above that would otherwise require adjustment of the Conversion Rate. 
 (c) The Company may, from time to time, and to the extent permitted by law and subject to applicable rules of the NASDAQ Global Select Market, increase
the Conversion Rate by any amount for any period of at least 20 days. Whenever the Conversion Rate is increased pursuant to the preceding sentence, the Company shall give notice of the increase to the Holders in the manner provided in
Section 4.07, with a copy to the Trustee and Conversion Agent, at least 15 days prior to the date the increased Conversion Rate takes effect, and such notice shall state the increased Conversion Rate and the period during which it will be in
effect. The Company may also, in its discretion, increase the Conversion Rate, to avoid or diminish any income tax to any holders of shares of Common Stock resulting from any dividend or distribution of stock (or rights to acquire stock) or from any
event treated as such for income tax purposes. 
 (d) If, in respect of any Trading Day within the Cash Settlement Averaging Period for
converted Securities: 
  

	 	(A)	shares of Common Stock are deliverable with respect to the Daily Share Amount for such Trading Day in accordance with this Article 4; 

  

	 	(B)	any event that requires an adjustment to the Conversion Rate under any of clauses (i), (ii), (iii), (iv) or (v) of Section 4.07(a) has not resulted in an adjustment
to the Conversion Rate as of such Trading Day; and 

  

	 	(C)	 the shares of Common Stock the Holder of such Securities shall receive in respect of such Trading Day are not entitled to participate in the distribution or
transaction giving rise to such adjustment event (because such shares were not held by such holder on the record date corresponding to such distribution or transaction or otherwise), 

  

 33 

 then the Company will adjust the number of shares of Common Stock deliverable with respect to the Daily
Share Amount for such Trading Day to reflect the relevant distribution or transaction. 
 (e) If: 
  

	 	(A)	the Company elects to satisfy the Conversion Obligation solely in shares of Common Stock; 

  

	 	(B)	any event that requires an adjustment to the Conversion Rate under any of clauses (i), (ii), (iii), (iv) or (v) of Section 4.07(a) has not resulted in an adjustment
to the Conversion Rate as of the Conversion Date; and 

  

	 	(C)	the shares of Common Stock the Holder of such Securities shall receive on settlement are not entitled to participate in the distribution or transaction giving rise to such
adjustment event (because such shares were not held by such holder on the record date corresponding to such distribution or transaction or otherwise), 

 then the Company will adjust the number of shares of Common Stock deliverable with respect to the conversion of such Securities to reflect the relevant distribution or transaction. 
 Section 4.08. Make-Whole Adjustment. (a) If a transaction described in clause (a) or (b) of the definition of Change of Control
occurs (excluding a Change of Control in clause (b) where the exception relating to a transaction involving consideration of at least 95% publicly traded securities applies), and a Holder elects to convert its Securities in connection with such
transaction, the Company will increase the applicable Conversion Rate for the Securities surrendered for conversion by a number of additional shares of Common Stock (the “Additional Shares”) in accordance with this
Section 4.08. 
 Any conversion occurring at a time when the Securities would be convertible in light of the expected or actual
occurrence of a transaction described in clauses (a) or (b) of the definition of Change of Control will be deemed to have occurred in connection with such Change of Control, notwithstanding the fact that a Security may then also be
convertible because another condition to conversion has been satisfied. 
 The number of Additional Shares shall be determined by reference
to the table below, based on the effective date of the transaction described in clauses (a) or (b) of the definition of Change of Control and the price (the “Stock Price”) paid per share of Common Stock in such
transaction. If the holders of Common Stock receive only cash in the Change of Control transaction, the Stock Price shall be the cash amount paid per share of Common Stock. Otherwise, the Stock Price shall be the average of the Sale Prices of a
share of Common Stock over the 10 consecutive Trading Day period ending on and including the Trading Day immediately preceding such effective date. 
 The Stock Prices set forth in the first row of the table below shall be adjusted as of any date on which the Conversion Rate of the Securities is adjusted in accordance with Section 4.07 hereof. The adjusted Stock Prices shall equal
the Stock Prices applicable immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the Conversion Rate immediately prior to the adjustment giving rise to the Stock Price adjustment and the denominator of which is
the Conversion Rate as so adjusted. The number of Additional Shares shall be adjusted in the same manner and for the same events as the Conversion Rate as set forth in Section 4.07 hereof. 
  

 34 

 The following table sets forth the Stock Price and number of Additional Shares to be received per $1,000
principal amount of Securities: 
  

																													
	 	 	Stock Price
	 Effective Date
	 	$71.76 	 	$75.00 	 	$80.00 	 	$85.00 	 	$90.00 	 	$95.00 	 	$100.00	 	$105.00	 	$110.00	 	$130.00	 	$150.00	 	$170.00	 	$200.00	 	$250.00
	 June 12, 2009*
	 	2.0754	 	1.9560	 	1.7939	 	1.6536	 	1.5310	 	1.4230	 	1.3269	 	1.2410	 	1.1637	 	0.9183	 	0.7423	 	0.6100	 	0.4637	 	0.3029
	 June 15, 2010
	 	2.0754	 	1.8693	 	1.7082	 	1.5702	 	1.4507	 	1.3463	 	1.2542	 	1.1722	 	1.0988	 	0.8681	 	0.7043	 	0.5816	 	0.4461	 	0.2963
	 June 15, 2011
	 	2.0754	 	1.7624	 	1.5993	 	1.4620	 	1.3447	 	1.2435	 	1.1553	 	1.0776	 	1.0086	 	0.7953	 	0.6466	 	0.5361	 	0.4145	 	0.2797
	 June 15, 2012
	 	2.0754	 	1.6425	 	1.4714	 	1.3306	 	1.2131	 	1.1138	 	1.0287	 	0.9551	 	0.8907	 	0.6974	 	0.5668	 	0.4715	 	0.3674	 	0.2522
	 June 15, 2013
	 	2.0754	 	1.5085	 	1.3186	 	1.1675	 	1.0454	 	0.9454	 	0.8625	 	0.7928	 	0.7335	 	0.5643	 	0.4568	 	0.3807	 	0.2989	 	0.2087
	 June 15, 2014
	 	2.0754	 	1.4734	 	1.1409	 	0.9649	 	0.8294	 	0.7242	 	0.6414	 	0.5754	 	0.5221	 	0.3850	 	0.3084	 	0.2573	 	0.2037	 	0.1447
	 June 15, 2015
	 	2.0754	 	1.4734	 	0.9312	 	0.6955	 	0.5277	 	0.4089	 	0.3251	 	0.2660	 	0.2240	 	0.1430	 	0.1125	 	0.0945	 	0.0757	 	0.0545
	 June 15, 2016
	 	2.0754	 	1.4734	 	0.6401	 	0.0000	 	0.0000	 	0.0000	 	0.0000	 	0.0000	 	0.0000	 	0.0000	 	0.0000	 	0.0000	 	0.0000	 	0.0000

  

	*	The original issue date of the Securities. 

 The exact
Stock Price and effective dates may not be set forth on the table, in which case: 
 (i) if the Stock Price is between two
Stock Price amounts on the table or the effective date is between two dates on the table, the number of Additional Shares will be determined by straight-line interpolation between the number of Additional Shares set forth for the higher and lower
stock prices and the earlier and later effective dates, as applicable, based on a 365-day year; 
 (ii) if the Stock Price is
greater than $250.00 per share (subject to adjustment in the same manner as the Conversion Rate as set forth in Section 4.07), no increase will be made to the Conversion Rate; and 
 (iii) if the Stock Price is less than $71.76 per share (subject to adjustment in the same manner as the Conversion Rate as set forth in
Section 4.07), no increase will be made to the Conversion Rate. 
 Notwithstanding the foregoing, in no event shall the total number of
Additional Shares of Common Stock issuable upon conversion of a Security exceed $2.0754 per $1,000 principal amount of Securities, subject to adjustments in the same manner as the Conversion Rate as set forth in Section 4.07. 
 (b) If, pursuant to Section 4.08(a), the Company is required to increase the Conversion Rate by the Additional Shares: 
 (i) if the Company does not elect to deliver cash to settle any portion of the Conversion Obligation and it does not make an Irrevocable
Election, Securities surrendered for conversion will be settled as follows: 
 (A) If the date on which the Securities are surrendered for
conversion is prior to the third Scheduled Trading Day preceding the effective date of the Change of Control (the “Cut-off Date”), the Company shall settle such conversion by delivering the number of shares of Common Stock (based on
the Conversion Rate without regard to the number of Additional Shares to be added to the Conversion Rate pursuant to Section 4.08(a)) on the third Scheduled Trading Day immediately following the Cut-off Date. In addition, as soon as practicable
following the effective date of the Change of Control (but in any event within three Scheduled Trading Days of such effective date), the Company shall deliver the number of Additional Shares to be added to 

  

 35 

 
the Conversion Rate as described above, if any, or the equivalent of such shares in Reference Property, as applicable. 
 (B) If the date on which the Securities are surrendered for conversion is on or following the Cut-off Date, the Company shall settle such conversion
(based on the Conversion Rate as increased by the Additional Shares described above) on the third Scheduled Trading Day immediately following the Conversion Date by delivering the number of shares of Common Stock (based on the Conversion Rate
without regard to the number of Additional Shares to be added to the Conversion Rate pursuant to Section 4.08(a)) plus the number of Additional Shares to be added to the Conversion Rate as set forth in Section 4.08(a), if any, or the
equivalent of such shares in Reference Property, as applicable. 
 (ii) if the Company elects to deliver cash in respect of
all or a portion or the Conversion Obligation or it makes an Irrevocable Election, Securities surrendered for conversion will be settled as follows: 
 (A) If the last day of the applicable Cash Settlement Averaging Period related to the Securities surrendered for conversion is prior to the Cut-off Date, the Company shall settle such conversion pursuant to
Section 4.04 by delivering the amount of cash and shares of the Common Stock, if any (based on the Conversion Rate without regard to the number of Additional Shares to be added to the Conversion Rate pursuant to Section 4.08(a)), on the
third Scheduled Trading Day immediately following the last day of the applicable Cash Settlement Averaging Period. In addition, as soon as practicable following the effective date of the Change of Control (but in any event within three Scheduled
Trading Days of such effective date), the Company shall deliver the increase in such amount of cash and Additional Shares (or the equivalent in Reference Property, if applicable), if any, as if the Conversion Rate had been increased by such number
of Additional Shares during the related Cash Settlement Averaging Period (and based upon the related Conversion Value). If such increased amount results in an increase to the amount of cash to be paid to the Holders, the Company shall pay such
increase in cash, and if such increased settlement amount results in an increase to the number of shares of the Common Stock to be paid to the Holders, the Company shall deliver such increase by delivering shares of the Common Stock (or, if
applicable, Reference Property based on such increased number of shares). 
 (B) If the last day of the applicable Cash Settlement Averaging
Period related to Securities surrendered for conversion is on or following the Cut-off Date, the Company shall settle such conversion pursuant to Section 4.04 (based on the Conversion Rate as increased by the Additional Shares) on the later to
occur of (i) the effective date of the transaction and (ii) the third Scheduled Trading Day immediately following the last day of the applicable Cash Settlement Averaging Period. 
 For the avoidance of doubt, if Securities are surrendered for conversion in connection with an anticipated Change of Control and such Change of Control
does not in fact occur, no Additional Shares will be added to the Conversion Rate and no additional cash or shares of Common Stock (or Reference Property) will be paid as a result of the related anticipated Change of Control. 
 Section 4.09. Notice of Adjustment in Conversion Rate. Whenever the Conversion Rate is adjusted pursuant to Sections 4.07 or 4.08: 
 (a) the Company shall compute the adjusted Conversion Rate in accordance with Sections 4.07 or 4.08 and shall prepare an Officers’ Certificate
setting forth (i) the adjusted Conversion Rate, (ii) the 

  

 36 

 
clause of Section 4.07 or 4.08 pursuant to which such adjustment has been made, showing in reasonable detail the facts upon which such adjustment is
based, (iii) the calculation of such adjustment and (iv) the date as of which such adjustment is effective, and such certificate shall promptly be filed with the Trustee and with each Conversion Agent; and 
 (b) upon each such adjustment, a notice stating that the Conversion Rate has been adjusted and setting forth the adjusted Conversion Rate shall be
required, and as soon as practicable after it is required, such notice shall be provided by the Company to all Holders of record of the Securities in accordance with Section 12.02. 
 Unless and until a Responsible Officer of the Trustee shall have received an Officers’ Certificate in accordance with this Section 4.09, the
Trustee shall not be deemed to have knowledge of any adjustment of the Conversion Rate and may assume that the last Conversion Rate of which it has knowledge is still in effect. 
 Neither the Trustee nor any Conversion Agent shall be under any duty or responsibility with respect to any such certificate or the information and
calculations contained therein, except to exhibit the same to any Holder of Securities desiring inspection thereof at its office during normal business hours. 
 Section 4.10. Effect of Reclassification, Consolidation, Merger or Sale. If any of the following events occur, namely (i) any recapitalization, reclassification or other similar change in the outstanding
shares of Common Stock (other than changes resulting from a subdivision or combination), (ii) any consolidation, merger or combination of the Company with another Person, (iii) the Company is a party to a statutory share exchange, or
(iv) any sale, lease or other conveyance of all or substantially all of the assets of the Company to any other Person, in each case, as a result of which holders of Common Stock shall be entitled to receive stock, other securities, other
property or assets (including cash or any combination thereof) with respect to or in exchange for such Common Stock, the Holders of the Securities then outstanding will be entitled thereafter to convert such Securities into the kind and amount of
shares of stock, other securities or other property or assets (including cash or any combination thereof) that they would have owned or been entitled to receive (the “Reference Property”) upon such recapitalization,
reclassification, change, consolidation, merger, combination, sale, lease, transfer or statutory share exchange had such Securities not been converted into Common Stock immediately prior to such transaction. 
 In the event the holders of Common Stock have the opportunity to elect the form of consideration to be received in such transaction, the Company shall
make adequate provision whereby the Securities shall be convertible from and after the effective date of such transaction into the form of consideration elected by a majority of the Company’s stockholders affirmatively making an election in
such transaction; provided, however, at and after the effective time of the transaction, any amount otherwise payable in cash upon conversion of the Securities will continue to be payable in cash, and the Daily Share Amount will be
calculated based on the value of the Reference Property and shall be payable in the form of consideration elected by a majority of the Company’s stockholders affirmatively making an election in such transaction. The Company hereby agrees not to
become a party to any such transaction unless its terms are consistent with the foregoing. 
 The above provisions of this Section shall
similarly apply to successive recapitalizations, reclassifications, changes, consolidations, mergers, combinations, sales and conveyances. 
  

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 Section 4.11. Taxes on Shares Issued. The issue of stock certificates on conversion of Securities
shall be made without charge to the Holder thereof for any documentary, stamp or similar issue or transfer tax in respect of the issue thereof. The Company shall not, however, be required to pay any such 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 Security 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 4.12. Reservation of Shares, Shares; Listing and Compliance. The Company shall reserve and keep available, free from preemptive rights,
out of its authorized but unissued shares or shares held in treasury, sufficient shares of Common Stock to provide for the conversion of Securities from time to time as such Securities are presented for conversion. 
 Before taking any action which would cause an adjustment increasing the Conversion Rate to an amount that would cause the Conversion Price to be reduced
below the then par value, if any, of the shares of Common Stock issuable upon conversion of the Securities, 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 Rate. 
 The Company covenants that all shares of Common Stock which
may be issued upon conversion of Securities will upon issue be fully paid and non-assessable by the Company and free from all taxes, liens and charges with respect to the issue by the Company thereof, except as set forth in Section 4.11.

 The Company covenants that, if any shares of Common Stock to be provided for the purpose of conversion of Securities hereunder require
registration with or approval of any governmental authority under any federal or state law before such shares may be validly issued upon conversion, the Company will in good faith and as expeditiously as possible, to the extent then permitted by the
rules and interpretations of the SEC (or any successor thereto), endeavor to secure such registration or approval, as the case may be. 
 The
Company further covenants that, if at any time the Common Stock shall be listed on the NASDAQ Global Select Market or any other national securities exchange or automated quotation system, the Company shall, if permitted by the rules of such exchange
or automated quotation system, list and keep listed, so long as the Common Stock shall be so listed on such exchange or automated quotation system, all Common Stock issuable upon conversion of the Securities. 
 Section 4.13. Responsibility of Trustee. The Trustee and any other Conversion Agent shall not at any time be under any duty or responsibility to
any Holder of Securities to determine the Conversion Rate or whether any facts exist which may require any adjustment of the Conversion Rate, 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 and any other Conversion Agent 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 Security; and the Trustee and any other Conversion Agent make no representations with respect thereto. Neither the
Trustee nor any Conversion Agent shall be responsible for any failure of the Company to issue, transfer or deliver any shares of 

  

 38 

 
Common Stock or stock certificates or other securities or property or cash upon the surrender of any Security for the purpose of conversion or to comply with
any of the duties, responsibilities or covenants of the Company contained in this Article 4. 
 ARTICLE 5 
 SUBORDINATION 
 Section 5.01.
Securities Subordinated to Senior Indebtedness. The Company agrees, and each Holder by accepting a Security agrees, that the Indebtedness evidenced by the Securities (including the principal of, premium, if any, interest and any Additional
Interest on all the Securities and the Fundamental Change Repurchase Price with respect to all Securities subject to repurchase pursuant to Section 3.08 hereof) is subordinated in right of payment, to the extent and in the manner provided in
this Article 5, to the prior payment in full of all Senior Indebtedness (whether outstanding on the date hereof or hereafter created, incurred, assumed or guaranteed). 
 Section 5.02. Liquidation; Dissolution; Bankruptcy. In the event of any payment or distribution of assets of the Company upon any dissolution winding up, liquidation or reorganization of the Company, whether in
bankruptcy, insolvency, reorganization or receivership proceedings or upon an assignment for the benefit of creditors or any other marshalling of the assets and liabilities of the Company: 
 (a) holders of Senior Indebtedness shall first be entitled to receive payment in full of all Obligations due in respect of such Senior Indebtedness
(including interest after the commencement of any such proceeding at the rate specified in the applicable Senior Indebtedness) or provision shall be made for such amount in cash, or other payments satisfactory to the holders of Senior Indebtedness,
before Holders of the Securities shall be entitled to receive any payment with respect to the Securities; and 
 (b) until all Obligations
with respect to Senior Indebtedness (as provided in paragraph (a) above) are paid in full, any distribution to which Holders would be entitled but for this Article 5 shall be made to holders of Senior Indebtedness (except that Holders of
Securities may receive Permitted Junior Securities), as their interests may appear. 
 Section 5.03. Default on Senior Indebtedness and
Designated Senior Indebtedness. 
 (a) The Company may not make any payment of principal or interest on the Securities to the Trustee or
any Holder in respect of Obligations with respect to the Securities if a default in the payment of any principal or other Obligations with respect to Senior Indebtedness occurs, by reason of acceleration or otherwise, and is continuing beyond any
applicable grace period in the agreement, indenture or other document governing such Senior Indebtedness until all principal and other Obligations with respect to the Senior Indebtedness have been cured or waived or ceased to exist. 
 (b) During the continuance of any event of default with respect to any Designated Senior Indebtedness (other than a default in payment of the principal
of, premium, if any, or interest on, rent or other payment obligations in respect of any Designated Senior Indebtedness), permitting the holders thereof to accelerate the maturity thereof (or, in the case of any lease, permitting the landlord either
to terminate the lease or to require the Company to make an irrevocable offer to terminate the lease following an event of default under such lease), no payment may be made by the Company, directly or indirectly, with respect to principal of or
interest on the Securities for a period (a “Payment Blockage Period”) commencing upon the receipt by the Trustee of written notice (a “Payment Blockage Notice”) 

  

 39 

 
of such default from persons entitled to give such notice under any agreement pursuant to which that Designated Senior Indebtedness may have been issued,
that such an event of default has occurred and is continuing and ending on the earlier of: (i) 179 days from the date the Trustee shall have received the Payment Blockage Notice, (ii) the date such event of default has been cured or waived
or ceases to exist, or (iii) the date such Payment Blockage Period shall have been terminated by written notice to the Company or the Trustee from the person initiating such Payment Blockage Period. 
 The Company may resume payments on the Securities after the end of the Payment Blockage Period unless the holders of such Designated Senior Indebtedness
or the representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness. 
 (c) Not more than one
Payment Blockage Notice may be given in any consecutive 365-day period, irrespective of the number of defaults with respect to one or more issues of Designated Senior Indebtedness during such period. No nonpayment default that existed or was
continuing on the date of delivery of any Payment Blockage Notice to the Trustee will be, or can be made, the basis for the commencement of a subsequent Payment Blockage Period whether or not within a period of 365 consecutive days. In no event may
the total number of days during which any Payment Blockage Period is in effect exceed 179 days in the aggregate in any consecutive 365-day period. 
 Section 5.04. Acceleration of Securities. If payment of the Securities is accelerated because of an Event of Default, unless the full amount in respect of all Senior Indebtedness is paid in cash or other payment satisfactory to the
holders of Senior Indebtedness, no payment shall be made by the Company with respect to the principal of, or interest on, on the Securities or upon conversion or repurchase of any of the Securities, and the Company shall promptly notify holders of
Senior Indebtedness of the acceleration. 
 Section 5.05. When Distribution Must Be Paid Over. In the event that the Trustee or any
Holder receives any payment of any Obligations or distribution of assets of the Company of any kind or character (other than Permitted Junior Securities pursuant to Article 5 hereof), whether in cash, property or securities (including, without
limitation, by way of setoff or otherwise) with respect to the Securities at a time when the Trustee or such Holder, as applicable, has actual knowledge that such payment is prohibited by Section 5.03 hereof, such payment shall be held by the
Trustee or such Holder, in trust for the benefit of, and shall be paid forthwith over and delivered, upon written request, to, the holders of Senior Indebtedness as their interests may appear or their Representative under the indenture or other
agreement (if any) pursuant to which Senior Indebtedness may have been issued, as their respective interests may appear, for application to the payment of all Obligations with respect to Senior Indebtedness remaining unpaid to the extent necessary
to pay such Obligations in full in accordance with their terms, after giving effect to any concurrent payment or distribution to or for the holders of Senior Indebtedness. 
 With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform only such obligations on the part of the Trustee as are
specifically set forth in this Article 5, and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to
the holders of Senior Indebtedness, and shall not be liable to any such holders if the Trustee shall pay over or distribute to or on behalf of Holders or the Company or any other Person money or assets to which any holders of Senior Indebtedness
shall be entitled by virtue of this Article 5. 
  

 40 

 Section 5.06. Notice by Company. The Company shall promptly notify the Trustee and the Paying
Agent of any facts known to the Company that would cause a payment of any Obligations with respect to the Securities to violate this Article 5, but failure to give such notice shall not affect the subordination of the Securities to the Senior
Indebtedness as provided in this Article 5. 
 Section 5.07. Subrogation. After all Senior Indebtedness is paid in full in cash or
other payment satisfactory to the holders of the Senior Indebtedness and until the Securities are paid in full, Securityholders shall be subrogated (equally and ratably with all other Indebtedness pari passu with the Securities and entitled to
similar rights of subrogation) to the rights of holders of Senior Indebtedness to receive payments or distributions applicable to Senior Indebtedness to the extent that payments or distributions otherwise payable to the Securityholders have been
applied to the payment of Senior Indebtedness. A distribution made under this Article 5 to holders of Senior Indebtedness that otherwise would have been made to Securityholders (whether by the Company, any Holder, the Trustee or otherwise) is not,
as between the Company and Holders, a payment by the Company on the Securities. 
 Section 5.08. Relative Rights. This Article 5
defines the relative rights of Holders of Securities and holders of Senior Indebtedness. Nothing in this Indenture shall: 
 (a) impair, as
between the Company and Securityholders, the obligation of the Company, which is absolute and unconditional, to pay principal of, premium, if any, and interest on the Securities in accordance with their terms; 
 (b) affect the relative rights of Securityholders and creditors of the Company other than their rights in relation to holders of Senior Indebtedness; or

 (c) prevent the Trustee or any Securityholder from exercising its available remedies upon a Default or Event of Default, subject to the
rights of holders and owners of Senior Indebtedness to receive distributions and payments otherwise payable to Holders of Securities. 
 If
the Company fails because of this Article 5 to pay principal of, premium, if any, interest or any Additional Interest on a Security on the due date, the failure is still a Default or Event of Default. 
 Section 5.09. Subordination May Not Be Impaired by Company. No right of any holder of Senior Indebtedness to enforce the subordination of the
Indebtedness evidenced by the Securities shall be impaired by any act or failure to act by the Company or any Holder or by the failure of the Company or any Holder to comply with this Indenture. 
 Section 5.10. Distribution or Notice to Representative. Whenever a distribution is to be made or a notice given to holders of Senior Indebtedness,
the distribution may be made and the notice given to their Representative. Upon any payment or distribution of assets of the Company referred to in this Article 5, the Trustee and the Holders of Securities shall be entitled to rely upon any order or
decree made by any court of competent jurisdiction or upon any certificate of such Representative or of the liquidating trustee or agent or other Person making any distribution to the Trustee or to the Holders of Securities for the purpose of
ascertaining the Persons entitled to participate in such distribution, the holders of the Senior Indebtedness, Designated Senior Indebtedness and other Indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or
distributed thereon and all other facts pertinent thereto or to this Article 5. 
  

 41 

 Section 5.11. Rights of Trustee and Paying Agent. Notwithstanding the provisions of this
Article 5 or any other provision of this Indenture, the Trustee shall not be charged with knowledge of the existence of any facts that would prohibit the making of any payment or distribution by the Trustee, and the Trustee and the Paying Agent may
continue to make payments on the Securities, unless the Trustee shall have received at its Corporate Trust Office at least two Business Days prior to the date of such payment written notice of facts that would cause the payment of any Obligations
with respect to the Securities to violate this Article 5. Only the Company, a Representative or a holder of Designated Senior Indebtedness may give the notice. Nothing in this Article 5 shall impair the claims of, or payments to, the Trustee under
or pursuant to Section 9.07 hereof. 
 The Trustee in its individual or any other capacity may hold Senior Indebtedness with the same
rights it would have if it were not Trustee. Any Agent may do the same with like rights. 
 Section 5.12. Authorization to Effect
Subordination. Each Securityholder, by the Holder’s acceptance thereof, authorizes and directs the Trustee on such Holder’s behalf to take such action as may be necessary or appropriate to effectuate the subordination as provided in
this Article 5, and appoints the Trustee to act as such Holder’s attorney-in-fact for any and all such purposes. If the Trustee does not file a proper proof of claim or proof of debt in the form required in any proceeding referred to in
Section 8.09 hereof at least 30 days before the expiration of the time to file such claim, the holders of any Designated Senior Indebtedness are hereby authorized to file an appropriate claim for and on behalf of the Securityholders.

 Section 5.13. Amendments. The provisions of this Article 5 shall not be amended or modified in any manner adverse to the
holders of Senior Indebtedness without the written consent of the holders of all Senior Indebtedness. 
 Section 5.14. Agreement to
Subordinate Unaffected. The provisions of this Article 5 shall remain in full force and effect irrespective of (a) any amendment, modification, or supplement of, or any waiver or consent to, any of the terms of the Senior Indebtedness or
the agreement or instrument governing the Senior Indebtedness, (b) the release or non-perfection of any collateral securing the Senior Indebtedness or (c) the manner of sale or other disposition of the collateral securing the Senior
Indebtedness or the application of the proceeds upon such sale. 
 Section 5.15. Certain Conversions Deemed Payment. For the
purposes of this Article 5 only, (a) the issuance and delivery of Permitted Junior Securities upon conversion of Securities in accordance with Article 4 shall not be deemed to constitute a payment or distribution on account of the principal of,
or premium, if any, or interest on the Securities or on account of the purchase or other acquisition of Securities, and (b) the payment, issuance or delivery of cash (except in satisfaction of fractional shares pursuant to Section 4.06),
property or securities (other than Permitted Junior Securities) upon conversion of a Security shall be deemed to constitute payment on account of the principal of such Security. Nothing contained in this Article 5 or elsewhere in this Indenture or
in the Securities is intended to or shall impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders, the right, which is absolute and unconditional, of the Holder of any Security to convert such Security
in accordance with Article 4. 
  

 42 

 ARTICLE 6 
 COVENANTS 
 Section 6.01. Payment of Securities. The Company shall promptly make
all payments in respect of the Securities on the dates and in the manner provided in the Securities and this Indenture. Principal, premium, if any, interest, and any Additional Interest, shall be considered paid on the date it is due if the Paying
Agent (if other than the Company or an Affiliate thereof) holds as of 11:00 a.m., New York City time, on the due date money, deposited by the Company or an Affiliate thereof in immediately available funds, designated for and sufficient to pay all
principal, premium, if any, interest and any Additional Interest then due. The Company shall, to the fullest extent permitted by law, pay interest on overdue principal (including premium, if any), overdue installments of interest and overdue
Additional Interest at the rate of 1% above the then-applicable interest rate from the required payment date. 
 Payment of the principal of,
premium, if any, interest and any Additional Interest on the Securities shall be made at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York (which shall initially be the office or agency
of the Trustee in the Borough of Manhattan, The City of New York); provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address appears in the
Register; provided further that a beneficial owner of interests in any Global Security will be paid by wire transfer in immediately available funds in accordance with the Applicable Procedures and a Holder of a Certificated Security with an
aggregate principal amount in excess of $2,000,000 will be paid by wire transfer in immediately available funds at the election of such Holder if such Holder has provided wire transfer instructions to the Company and the Trustee at least 10 Business
Days prior to the payment date. 
 Section 6.02. Reports. The Company shall file all reports and other information and documents
that it is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act, and within 15 days after it files them with the SEC, the Company shall file copies of all such reports, information and other documents with the
Trustee; provided, however, that the Company shall not be required to deliver to the Trustee any material for which the Company has sought and received confidential treatment from the SEC. It is agreed that the filing of such reports via the
SEC’s EDGAR system shall constitute “filing” of such reports with the Trustee for purposes of this Section 6.02. The Company shall at all times comply with TIA Section 314(a) and also file with the Trustee and
transmit to the Holders such information, documents and other reports, and such summaries thereof, as may be required pursuant to the TIA at the time and in the manner required by the TIA. 
 Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not
constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely
exclusively on Officers’ Certificates). 
 Section 6.03. Compliance Certificates. 
 (a) The Company shall deliver to the Trustee, within 90 days after the end of each fiscal year, 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 kept, observed, performed and fulfilled its obligations
under this 
  

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 Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his or her
knowledge, in such Officer’s capacity as an officer of the Company: 
 (i) the Company has kept, observed, performed and
fulfilled each and every covenant contained in this Indenture and is not in default (without regard to grace periods or notice requirements) in the performance or observance of any of the terms, provisions and conditions of this Indenture, or, if a
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 what action the Company is taking or proposes to take with respect thereto; and 
 (ii) no event has occurred and remains in existence by reason of which payments on account of the principal of, premium, if any, or
interest on the Securities is prohibited or if such event has occurred, a description of the event and what action the Company is taking or proposes to take with respect thereto. 
 (b) The Company shall, so long as any of the Securities are outstanding, deliver to the Trustee, within five Business Days of any Officer 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 6.04. Further Instruments and Acts. Upon request of the Trustee, the Company will execute and deliver such further instruments and do
such further acts as may be reasonably necessary or proper to carry out more effectively the purposes of this Indenture. 
 Section 6.05. Maintenance of Corporate Existence. Subject to Article 7, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence. 
 Section 6.06. 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 or other law which would prohibit or forgive the Company from paying all or any portion of the principal of, premium, if any,
interest or any Additional Interest on the Securities as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture, and the Company (to the extent it may
lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit
the execution of every such power as though no such law had been enacted. 
 ARTICLE 7 
 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 
 Section 7.01. Company May Consolidate, etc., on Certain Terms. The Company shall not directly or indirectly consolidate with or merge into
any other Person or convey, transfer or lease all or substantially all its assets, in a single transaction or a series of transactions, to any Person, unless: 
 (a) the resulting surviving or transferee Person (the “Successor Company”), if not the Company, shall be a corporation organized and existing under the laws of the United States of America, any State
thereof or the District of Columbia and the Successor Company (if not the Company) shall expressly 
  

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 assume, by supplemental indenture, executed and delivered to the Trustee, in form satisfactory to the Trustee, all the
obligations of the Company under the Securities and this Indenture; 
 (b) at the time of and immediately after such transaction, no Event of
Default, and no event which, after notice or lapse of time, would become an Event of Default, shall have happened and be continuing; and 
 (c) an Officers’ Certificate and an Opinion of Counsel, each stating that the consolidation, merger or conveyance, transfer or lease complies with this Indenture, have been delivered to the Trustee. 
 Section 7.02. Successor Substituted. Upon any consolidation of the Company with, or merger of the Company into, any other Person or any
conveyance, transfer or lease of all or substantially all of the properties and assets of the Company in accordance with Section 7.01, the Successor Company formed by such consolidation or into which the Company is merged or to which such
conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such Successor Company had been named as the Company herein, and
thereafter, except in the case of a lease, the predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Securities. 
 ARTICLE 8 
 DEFAULT AND REMEDIES 
 Section 8.01. Events of Default. An “Event of Default” shall occur if: 
 (a) the Company defaults in the payment of an installment any interest on any Security for 30 days after the date when the same becomes due and payable,
whether or not such payment is prohibited pursuant to Article 5; 
 (b) the Company defaults in the payment of the principal on any Security
when the same becomes due and payable (whether at maturity, on a Fundamental Change Repurchase Date or otherwise), whether or not such payment is prohibited pursuant to Article 5; 
 (c) the Company fails to deliver, when due upon conversion, shares of Common Stock, cash or a combination of shares of Common Stock, together with cash
instead of fractional shares and such failure continues for a period of five days after receipt of the Conversion Notice as specified in Section 4.03; 
 (d) the Company fails to comply with its obligations under Article 7; 
 (e) the Company fails to provide
notice (i) of a Fundamental Change when due to the Trustee and to each Holder as required by Section 3.08 or (ii) as required under clauses (A) and (B) of Section 4.01(a)(iii); 
 (f) the Company fails to perform or observe any other term, covenant or agreement contained in the Securities or this Indenture for a period of 60 days
after written notice of such failure, requiring the 

  

 45 

 
Company to remedy the same, shall have been given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate
principal amount of the Securities then outstanding; 
 (g) a default by the Company or any of its Subsidiaries in the payment of the
principal or interest on any mortgage, agreement or other instrument under which there may be outstanding, or by which there may be secured or evidenced, any debt for money borrowed in excess of $25.0 million in the aggregate of the Company and/or
any of its Subsidiaries, whether such debt now exists or shall hereafter be created, which default results in such debt becoming or being declared due and payable, and such acceleration shall not have been rescinded or annulled within 30 days after
written notice of such acceleration has been received by the Company or any of its Subsidiaries; 
 (h) any judgment or judgments for the
payment of $25.0 million or more rendered against the Company or any of its Subsidiaries, which judgment is not waived, discharged or stayed within 60 days after (i) the date on which the right to appeal thereof has expired if no such appeal
has commenced, or (ii) the date on which all rights to appeal have been extinguished; 
 (i) the Company or any Subsidiary of the
Company, pursuant to or within the meaning of any Bankruptcy Law: 
 (i) commences a voluntary case or proceeding; 

(ii) consents to the entry of an order for relief against it in an involuntary case or proceeding; 
 (iii) consents to the appointment of a Custodian of it or for all or a material portion of its property; or 
 (iv) makes a general assignment for the benefit of its creditors. 
 (j) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 
 (i) is for relief against the Company or any Subsidiary of the Company in an involuntary case or proceeding; 
 (ii) appoints a Custodian of the Company or any Subsidiary of the Company or for all or a material portion of the property of the Company
or any Subsidiary of the Company; or 
 (iii) orders the liquidation of the Company or any Subsidiary of the Company;

 and in each case the order or decree remains unstayed and in effect for 60 consecutive days. 
 The term “Bankruptcy Law” means Title 11 of the United States Code (or any successor thereto) or any similar federal or state law for
the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator, sequestrator or similar official under any Bankruptcy Law. 
  

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 The Company shall notify the Responsible Officer of the Trustee in writing, promptly upon becoming aware
thereof, of any Event of Default by delivering to the Trustee a statement specifying such Event of Default and any action the Company has taken, is taking or proposes to take with respect thereto. 
 The Trustee shall not be charged with knowledge of any Event of Default unless written notice thereof shall have been given to a Responsible Officer at
the Corporate Trust Office of the Trustee by the Company, a Paying Agent, any Holder or any agent of any Holder. 
 Section 8.02.
Acceleration. If an Event of Default (other than an Event of Default specified in clause (i) or (j) of Section 8.01) occurs with respect to the Company and is continuing, the Trustee may, by notice to the Company, or the Holders
of at least 25% in aggregate principal amount of the Securities then outstanding may, by notice to the Company and the Trustee, declare the Securities due and payable at their principal amount together with accrued and unpaid interest and any
Additional Interest unpaid pursuant to Section 8.03, and the same shall become and be immediately due and payable. If an Event of Default specified in clause (i) or (j) of Section 8.01 occurs with respect to the Company, all the
principal of the Securities and the interest thereon and any Additional Interest unpaid pursuant to Section 8.03 shall automatically become and be immediately due and payable without any declaration or other act on the part of the Trustee or
any Holder. Subject to Section 8.07, the Holders of a majority in aggregate principal amount of the Securities then outstanding, by written notice to the Company and to the Trustee, may rescind and annul any declaration pursuant to the first
sentence of this Section 8.02 and its consequences and such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such rescission and annulment
shall extend to or shall affect any subsequent Default or Event of Default, or shall impair any right consequent thereon. 
 Section 8.03. Other Remedies. If an Event of Default occurs and is continuing, the Trustee may, but shall not be obligated to, pursue any available remedy by proceeding at law or in equity to collect the payment of the principal
of, or interest on, the Securities or to enforce the performance of any provision of the Securities or this Indenture. 
 The Trustee may
maintain a proceeding even if it does not possess any of the Securities or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Securityholder in exercising any right or remedy accruing upon an Event of Default
shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. 
 No remedy is exclusive of any
other remedy. All available remedies are cumulative to the extent permitted by law. 
 Notwithstanding anything to the contrary in this Indenture, at the election of the Company, the sole remedy for an Event of Default relating to the failure to file any documents or reports that the Company is required to file with the SEC
pursuant to Section 13 or 15(d) of the Exchange Act and for any failure to comply with the requirements of Section 314(a)(1) of the TIA or of a failure to comply with Section 6.02 above (the “Reporting Obligations”),
shall for the first 270 days after the occurrence of such an Event of Default consist exclusively of the right to receive additional interest on the Securities, at an annual rate of 0.25% of the principal amount of the Securities during the first 90
days of the occurrence of such Event of Default and 0.50% of the principal amount of the Securities from the 91st day until the 270th day following the occurrence of such Event of Default (“Additional Interest”). If the Company so elects, the Additional
Interest will be payable on all outstanding Securities on the date on 

  

 47 

 
which an Event of Default relating to a failure to comply with the Reporting Obligations first occurs, which will be the 60th day after notice to the Company
of its failure to so comply. On the 270th day after such Event of Default (if the Event of Default relating to the Reporting Obligations is not cured or waived prior to such 270th day), the Securities will be subject to acceleration in accordance
with Section 8.02 above. The foregoing shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. In the event the Company elects not to pay the Additional Interest upon an Event of Default in
accordance with this paragraph, the Securities will be subject to acceleration in accordance with Section 8.02 above. 
 Payments of the
Fundamental Change Repurchase Price, any Additional Interest, principal of, or premium, if any, and interest on, the Securities that are not made when due shall accrue interest at the annual rate of 1% above the then-applicable interest rate from
the required payment date. 
 Section 8.04. Waiver of Defaults and Events of Default. Subject to Sections 8.07 and 11.02, the
Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may waive an existing default or Event of Default and its consequence, except a default or Event of Default in the payment of the
principal of, or premium, if any, interest or any Additional Interest on, any Security, a failure by the Company to convert any Securities into Common Stock in accordance with the provisions of the Securities and this Indenture or any default or
Event of Default in respect of any covenants or provisions of this Indenture or the Securities which, under Section 11.02 cannot be modified or amended without the consent of the Holder of each Security affected. When a default or Event of
Default is waived, it is cured and ceases. 
 Section 8.05. Control by Majority. The Holders of a majority in aggregate principal
amount of the Securities then outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to follow any
direction that conflicts with law or this Indenture, that the Trustee, in its sole discretion, determines may be unduly prejudicial to the rights of another Holder or the Trustee, or that may involve the Trustee in personal liability unless the
Trustee is offered indemnity satisfactory to it; provided, however, that the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. 
 Section 8.06. Limitations on Suits. A Holder may not pursue any remedy with respect to this Indenture or the Securities (except actions for
payment of overdue principal or interest or for the conversion of the Securities pursuant to Article 4) unless: 
 (a) the Holder gives to
the Trustee written notice of a continuing Event of Default; 
 (b) the Holders of at least 25% in aggregate principal amount of the then
outstanding Securities make a written request to the Trustee to pursue the remedy; 
 (c) such Holder or Holders offer to the Trustee
reasonable indemnity satisfactory to the Trustee against any loss, liability or expense; 
 (d) the Trustee does not comply with the request
within 60 days after receipt of the request and the offer of indemnity; and 
  

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 (e) no direction inconsistent with such written request has been given to the Trustee during such 60-day
period by the Holders of a majority in aggregate principal amount of the Securities then outstanding. 
 A Securityholder may not use this
Indenture to prejudice the rights of another Securityholder or to obtain a preference or priority over such other Securityholder. 
 Section 8.07. Rights of Holders to Receive Payment and to Convert. Notwithstanding any other provision of this Indenture, the right of any Holder of a Security to receive payment of the principal of and interest on the Security,
on or after the respective due dates expressed in the Security and this Indenture, to convert such Security in accordance with Article 4 and to bring suit for the enforcement of any such payment on or after such respective dates or the right to
convert, is absolute and unconditional and shall not be impaired or affected without the consent of the Holder. 
 Section 8.08.
Collection Suit by Trustee. If an Event of Default in the payment of principal or interest specified in clause (a) or (b) of Section 8.01 occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of
an express trust against the Company or another obligor on the Securities for the whole amount of principal and accrued interest remaining unpaid, together with, to the extent that payment of such interest is lawful, interest on overdue principal
and on overdue installments of interest, in each case at the rate per annum borne by the Securities and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel. 
 Section 8.09. 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 (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel) and the Holders allowed in any judicial proceedings relative to the Company (or any other obligor on the Securities), its creditors or its property and shall be entitled and empowered to collect and receive any money or other
property payable or deliverable on any such claims and to distribute the same, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall
consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 9.07, and to the extent that such payment of the reasonable compensation, expenses, disbursements and advances in any such proceedings shall be denied for any reason, payment of the same shall be secured by a lien on, and
shall be paid out of, any and all distributions, dividends, money, securities and other property which the Holders may be entitled to receive in such proceedings, whether in liquidation or under any plan of reorganization or arrangement or
otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to, or, on behalf of any Holder, to authorize, accept or adopt any plan of reorganization, arrangement, adjustment or composition affecting the
Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 Section 8.10. Priorities. If the Trustee collects any money pursuant to this Article 8, it shall pay out the money in the following order, subject to the provisions of Article 5: 
 First, to the Trustee for amounts due under Section 9.07; 
  

 49 

 Second, to Holders for amounts due and unpaid on the Securities for principal, premium, if any,
interest, and any Additional Interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Securities for principal, premium, if any, interest, and any Additional Interest, respectively; and

 Third, to the Company or such party as a court of competent jurisdiction shall direct. 
 The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 8.10. 
 Section 8.11. 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 Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs,
including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 8.11 does not apply to a suit made
by the Trustee, a suit by a Holder pursuant to Section 8.07, or a suit by Holders of more than 10% in aggregate principal amount of the Securities then outstanding. 
 ARTICLE 9 
 TRUSTEE 
 Section 9.01. Duties of Trustee. 
 (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture and use the same degree of care and skill in its exercise as a prudent person would exercise
or use under the circumstances in the conduct of his or her own affairs. 
 (b) Except during the continuance of an Event of Default:

 (i) the 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 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 certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. The Trustee, however, shall examine any certificates and opinions which by any provision hereof are
specifically required to be delivered to the Trustee to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein).

 (c) The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that: 
 (i) this paragraph does not limit the effect of subsection (b) of this Section 9.01;

  

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 (ii) the Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 
 (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 8.05. 
 (d) No provision of this Indenture shall require the Trustee to expend or risk its own funds or incur any liability unless the Company or Holders shall
have offered to the Trustee security and indemnity satisfactory to it against such cost or liability. The Trustee shall be under no obligation to exercise any of its rights and powers under this Indenture at the request of any Holders, unless such
Holder shall have offered to the Trustee security and indemnity satisfactory to it against any loss, liability or expense. 
 (e) Every
provision of this Indenture that in any way relates to the Trustee is subject to subsections (a), (b), (c) and (d) of this Section 9.01. 
 (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 9.02. Rights of Trustee. Subject to Section 9.01: 
 (a) The Trustee may rely conclusively on any document believed by it to be genuine and to have been signed or presented by the proper person. The Trustee
need not investigate any fact or matter stated in the document. 
 (b) Before the Trustee acts or refrains from acting, it may require an
Officers’ Certificate or an Opinion of Counsel, which shall conform to Section 12.04(b). The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion of
Counsel. 
 (c) The Trustee may act through its agents and shall not be responsible for the misconduct or negligence of any agent appointed
with due care. 
 (d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be
authorized or within its rights or powers conferred upon it by this Indenture. 
 (e) The Trustee may consult with counsel of its selection,
and the advice or opinion of such counsel as to matters of law shall be full and complete authorization and protection from liability in respect of any such action taken, omitted or suffered by it hereunder in good faith and in accordance with the
advice or opinion of such counsel. 
 (f) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by
this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities that
might be incurred by it in compliance with such request or direction. 
  

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 (g) The Trustee shall not be bound to make any investigation into the facts or matters stated in any
resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further
inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or
by agent or attorney at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 
 (h) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of
its capacities hereunder, and to each agent, custodian and other Person employed to act hereunder. 
 (i) 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. 
 (j) In no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the
Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 
 Section 9.03. Individual
Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Company or an Affiliate of the Company with the same rights it would have if it were not
Trustee. However, in the event that the Trustee acquires any conflicting interest it must eliminate such conflict within 90 days, apply to the SEC for permission to continue as trustee or resign. Any Agent may do the same with like rights and
duties. The Trustee is also subject to Sections 9.10 and 9.11. 
 Section 9.04. Trustee’s Disclaimer. The Trustee shall not
be responsible for and makes no representation as to the validity, priority or adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities 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 Securities or any other document in connection with the sale of the Securities or pursuant to this Indenture other than its certificate of authentication. 
 Section 9.05. Notice of Default or Events of Default. If a Default or an Event of Default occurs and is continuing and if it is known to the
Trustee, the Trustee shall mail to each Securityholder notice of the Default or Event of Default within 90 days after it occurs. However, the Trustee may withhold the 

  

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notice if and so long as a committee of its Responsible Officers in good faith determines that withholding notice is in the best interest of Securityholders,
except in the case of a Default or an Event of Default in payment of the principal of, premium, if any, or interest on any Security or in the payment of any conversion or repurchase obligation. 
 Section 9.06. Reports by Trustee to Holders. If such report is required by TIA Section 313, within 60 days after each May 15,
beginning with the May 15 following the date of this Indenture, and for so long as Securities remain outstanding, the Trustee shall mail to each Securityholder a brief report dated as of such May 15 that complies with TIA
Section 313(a) (but if no event described in TIA Section 313(a) has occurred within the twelve months preceding the reporting date, no report need be transmitted). The Trustee also shall comply with TIA Section 313(b)(2) and (c).

 A copy of each report at the time of its mailing to Securityholders shall be mailed to the Company and filed with the SEC and each stock
exchange, if any, on which the Securities are listed. The Company shall promptly notify the Trustee whenever the Securities become listed on any stock exchange or listed or admitted to trading on any quotation system and any changes in the stock
exchanges or quotation systems on which the Securities are listed or admitted to trading and of any delisting thereof. 
 Section 9.07. Compensation and Indemnity. The Company shall pay to the Trustee from time to time compensation (as agreed to from time to time by the Company and the Trustee in writing) for its services (which compensation shall
not be limited by any provision of law in regard to the compensation of a trustee of an express trust). The Company shall reimburse the Trustee promptly upon request for all reasonable disbursements, expenses and advances incurred or made by it in
addition to the compensation for its services. Such expenses may include the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel. 
 The Company shall indemnify each of the Trustee and any predecessor Trustee against any and all losses, liabilities, damages, claims or expenses incurred by it arising out of or in connection with the acceptance or
administration of its duties under this Indenture, including the costs and expenses (including taxes, other than taxes based upon, measured by or determined by the income of the Trustee) of enforcing this Indenture against the Company (including
this Section 9.07) and defending itself against any claim (whether asserted by the Company or any Holder or any other person) or liability in connection with the exercise or performance of any of its powers or duties hereunder. The Trustee,
upon receiving written notice thereof, 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 and the Trustee shall cooperate in the defense. The Trustee may have separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its written
consent, which consent shall not be unreasonably withheld. 
 The Company need not reimburse the Trustee for any expense or indemnify it
against any loss or liability incurred by it resulting from its negligence or bad faith. 
 To secure the Company’s payment obligations
in this Section 9.07, the Trustee shall have a senior claim to which the Securities are hereby made subordinate on all money or property held or collected by the Trustee, except such money or property held in trust to pay the principal of and
interest on the Securities. 
  

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 When the Trustee incurs expenses or renders services after an Event of Default specified in clause
(i) or (j) of Section 8.01 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. The
obligations of the Company under this Section 9.07 shall survive the termination or satisfaction and discharge of this Indenture or the resignation or removal of the Trustee for any reason. 
 Section 9.08. Replacement of Trustee. The Trustee may resign by so notifying the Company in writing. The Holders of a majority in aggregate
principal amount of the Securities then outstanding may remove the Trustee by so notifying the Trustee and the Company in writing and may, with the Company’s written consent, appoint a successor Trustee. The Company may remove the Trustee if:

 (a) the Trustee fails to comply with Section 9.10; 
 (b) the Trustee is adjudged a bankrupt or an insolvent or relief is entered with respect to the Trustee under any Bankruptcy Law; 
 (c) a receiver or other public officer takes charge of the Trustee or its property; or 
 (d) the Trustee
becomes incapable of acting. 
 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. The resignation or removal of a Trustee shall not be effective until a successor Trustee shall have delivered the written acceptance of its appointment as described below. 
 If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the
Holders of 10% in principal amount of the Securities then outstanding may petition any court of competent jurisdiction for the appointment of a successor Trustee at the expense of the Company. 
 If the Trustee fails to comply with Section 9.10, any Holder who has been a Holder for at least six months may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 A successor Trustee shall deliver a written
acceptance of its appointment to the retiring Trustee and to the Company. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee (provided that all sums owing to the Trustee hereunder
have been paid) and be released from its obligations (exclusive of any liabilities that the retiring Trustee may have incurred while acting as Trustee) hereunder, 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. A successor Trustee shall mail notice of its succession to each Holder. 
 A retiring Trustee shall not be liable for the acts or omissions of any successor Trustee after its succession. 
 Notwithstanding replacement of the Trustee pursuant to this Section 9.08, the Company’s obligations under Section 9.07 shall continue for
the benefit of the retiring Trustee. 
  

 54 

 Section 9.09. Successor Trustee by Merger, etc. If the Trustee consolidates with, merges or
converts into, or transfers all or substantially all of its corporate trust assets (including the administration of this Indenture) to, another corporation, by sale or otherwise, the resulting, surviving or transferee corporation, without any
further act, shall be the successor Trustee, provided such transferee corporation shall qualify and be eligible under Section 9.10. Such successor Trustee shall promptly mail notice of its succession to the Company and each Holder. 

Section 9.10. Eligibility; Disqualification. The Trustee shall always satisfy the requirements of paragraphs (1), (2) and (5) of
TIA Section 310(a). The Trustee (or its parent holding company) shall have a combined capital and surplus of at least $50,000,000. If at any time the Trustee shall cease to satisfy any such requirements, it shall resign immediately in the
manner and with the effect specified in this Article 9. The Trustee shall be subject to the provisions of TIA Section 310(b). Nothing herein shall prevent the Trustee from filing with the SEC the application referred to in the penultimate
paragraph of TIA Section 310(b). 
 Section 9.11. Preferential Collection of Claims Against Company. The Trustee shall
comply with TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated therein. 
 ARTICLE 10 
 SATISFACTION
AND DISCHARGE OF INDENTURE 
 Section 10.01. Satisfaction and Discharge
of Indenture. This Indenture shall be discharged and shall cease to be of further effect (except as to any surviving rights of conversion, registration of transfer or exchange of Securities herein expressly provided for and except as further
provided below), and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when: 
 (a) either 
 (i) all
Securities theretofore authenticated and delivered (other than Securities that have been destroyed, lost or stolen and that have been replaced or paid as provided in Section 2.07) have been delivered to the Trustee for cancellation; or

 (ii) all such Securities not theretofore delivered to the Trustee for cancellation: 
 (A) have become due and payable (whether on the Final Maturity Date, or on any earlier Fundamental Change Repurchase Date, conversion or
otherwise); or 
 (B) will become due and payable at the Final Maturity Date within one year; 
 and the Company, in the case of clause (A) or (B) above, has irrevocably deposited or caused to be irrevocably deposited with the Trustee or a
Paying Agent (other than the Company or any of its Affiliates) as trust funds in trust solely for the purpose cash in an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for
cancellation, for principal, premium, if any, and interest to the date of such deposit (in the case of Securities which have become due and payable) or to the Final Maturity Date; 
  

 55 

 (b) the Company has paid or caused to be paid all other sums payable hereunder by the Company, including
any unpaid Additional Interest; and 
 (c) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel,
each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture (1) the right of Holders to receive payments of principal of, and premium (if any), accrued and unpaid interest and Additional Interest (if any)
and any unpaid Conversion Obligation (if any) on, the Securities and the other rights, duties and obligations of Securityholders, as beneficiaries hereof with respect to the amounts, if any, so deposited with the Trustee shall survive and
(2) the obligations of the Company to the Trustee under Section 9.07 shall survive and, if money shall have been deposited with the Trustee pursuant to paragraph (b) of this Section 10.01, the provisions of Sections 10.02 and
10.04 shall survive until the Securities have been paid in full. 
 Section 10.02. Application of Trust Money. Subject to the
provisions of Section 10.03, the Trustee or a Paying Agent shall hold in trust, for the benefit of the Holders, all money deposited with it pursuant to Section 10.01 and shall apply the deposited money in accordance with this Indenture and
the Securities to the payment of the principal of, premium, if any, and interest on the Securities and any unpaid Additional Interest; provided that such money need not be segregated from other funds except to the extent required by law.

 Section 10.03. Repayment to Company. The Trustee and each Paying Agent shall promptly pay to the Company upon request any
excess money (a) deposited with them pursuant to Section 10.01 and (b) held by them at any time. 
 The Trustee and each
Paying Agent shall pay to the Company upon request any money held by them for the payment of principal, premium, if any, interest and any Additional Interest that remains unclaimed for two years after a right to such money has matured;
provided, however, that the Trustee or such Paying Agent, before being required to make any such payment, may at the expense of the Company cause to be mailed to each Holder entitled to such money notice that such money remains
unclaimed and that after a date specified therein, which shall be at least 30 days from the date of such mailing, any unclaimed balance of such money then remaining will be repaid to the Company. After payment to the Company, Holders entitled to
money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another person. In the absence of a written request from the Company to return unclaimed funds to the Company, the Trustee shall
from time to time deliver all unclaimed funds to or as directed by applicable escheat authorities, as determined by the Trustee in its sole discretion, in accordance with the customary practices and procedures of the Trustee. Any unclaimed funds
held by the Trustee pursuant to this Section 10.03 shall be held uninvested and without any liability for interest. 
 Section 10.04. Reinstatement. If the Trustee or any Paying Agent is unable to apply any money in accordance with Section 10.02 by reason of any legal proceeding or by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s obligations under this Indenture and the Securities shall be revived and reinstated as though no deposit had occurred pursuant to
Section 10.01 until such time as the Trustee or 

  

 56 

 
such Paying Agent is permitted to apply all such money in accordance with Section 10.02; provided, however, that if the Company has made any payment of
the principal of or interest on any Securities because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive any such payment from the money held by the Trustee or such
Paying Agent. 
 ARTICLE 11 
 AMENDMENTS, SUPPLEMENTS AND WAIVERS 
 Section 11.01. Without
Consent of Holders. The Company and the Trustee may amend or supplement this Indenture or the Securities without notice to or consent of any Securityholder: 
 (a) to cure any ambiguity, defect or inconsistency; 
 (b) to make any other change that does not adversely
affect the rights of any Securityholder: 
 (c) to provide for uncertificated Securities in addition to or in place of Certificated
Securities; 
 (d) to provide for the assumption of the Company’s obligations to the Holders of the Securities by a successor to the
Company pursuant to Article 7 hereof; 
 (e) to comply with the provisions of the TIA; 
 (f) to add to the covenants of the Company for the equal and ratable benefit of the Securityholders or to surrender any right, power or option conferred
upon the Company; 
 (g) to secure the Company’s obligations with respect to the Securities or to add one or more guarantees with
respect to the Securities; 
 (h) to appoint a successor Trustee; 
 (i) to provide for the issuance of additional Securities having the same terms as the Securities initially issued hereunder; or 
 (j) to conform the text of this Indenture or the Securities to any provision of the “Description of Notes” contained in the Prospectus to the
extent that the text of the “Description of Notes” was intended by the Company to be a recitation of the text of this Indenture or the Securities as represented by the Company to the Trustee in an Officers’ Certificate. 
 Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental
indenture, and upon receipt by the Trustee of the documents described in Section 9.02 hereof, the Trustee shall join with the Company in the execution of any amended or supplemental indenture authorized or permitted by the terms of this
Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into such amended or supplemental indenture that affects its own rights, duties or immunities
under this Indenture or otherwise. 
  

 57 

 Section 11.02. With Consent of Holders. The Company and the Trustee may amend or supplement
this Indenture or the Securities with the written consent of the Holders of at least a majority in aggregate principal amount of the Securities then outstanding. The Holders of at least a majority in aggregate principal amount of the Securities then
outstanding may waive compliance in a particular instance by the Company with any provision of this Indenture or the Securities without notice to any Securityholder. However, notwithstanding the foregoing but subject to Section 11.04, without
the written consent of each Securityholder affected, an amendment, supplement or waiver, including a waiver pursuant to Section 8.04, may not: 
 (a) change the stated maturity of the principal of, or interest on, any Security; 
 (b) reduce the principal amount of, or any
premium or interest on, any Security; 
 (c) reduce the amount of principal payable upon acceleration of the maturity of any Security;

 (d) change the currency of payment of principal of, or any premium or interest on, any Security; 
 (e) impair the right to institute suit for the enforcement of any payment on, or with respect to, any Security; 
 (f) modify the provisions with respect to the Company’s obligation to repurchase Securities pursuant to Section 3.08 in a manner adverse to
Holders; 
 (g) modify the provisions of Article 5 in a manner adverse to Holders; 
 (h) adversely affect the right of Holders to convert Securities other than as provided in or under Article 4 of this Indenture: 
 (i) reduce the percentage of the aggregate principal amount of the outstanding Securities whose Holders must consent to a modification or amendment; and

 (j) reduce the percentage of the aggregate principal amount of the outstanding Securities, the consent of whose holders is necessary to
take actions under Sections 8.02, 8.04, 8.05, 8.06 and 9.08 under this Indenture. 
 It shall not be necessary for the consent of the Holders
under this Section 11.02 to approve the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. 
 Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental
indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders as aforesaid, and upon receipt by the Trustee of the documents described in Section 12.04 hereof, the Trustee shall join with
the Company in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee
may in its discretion, but shall not be obligated to, enter into such amended or supplemental indenture. 
  

 58 

 After an amendment, supplement or waiver under this Section 11.02 becomes effective, the Company
shall mail to the Holders affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any
such amendment, supplement or waiver. 
 To the extent that the Company or any of the Subsidiaries hold any Securities, such Securities shall
be disregarded for purposes of voting in connection with any notice, waiver, consent or direction requiring the vote or concurrence of Securityholders. 
 Section 11.03. Compliance with Trust Indenture Act. Every amendment to or supplement of this Indenture or the Securities shall comply with the TIA as in effect at the date of such amendment or supplement.

 Section 11.04. Revocation and Effect of Consents. Until an amendment, supplement or waiver becomes effective, a consent to it
by a Holder is a continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security.
However, any such Holder or subsequent Holder may revoke the consent as to its Security or portion of a Security if the Trustee receives the notice of revocation before the date the amendment, supplement or waiver becomes effective. 
 After an amendment, supplement or waiver becomes effective, it shall bind every applicable Securityholder. 
 Section 11.05. Notation on or Exchange of Securities. The Trustee may place an appropriate notation about an amendment, supplement or waiver
on any Security thereafter authenticated. The Company in exchange for all Securities may issue and the Trustee shall, upon receipt of a Company Order, authenticate new Securities that reflect the amendment, supplement or waiver. 
 Failure to make the appropriate notation or issue a new Security shall not affect the validity and effect of such amendment, supplement or waiver.

 Section 11.06. Trustee to Sign Amendments, etc. The Trustee shall sign any amendment or supplemental indenture authorized
pursuant to this Article 11 if the amendment or supplemental indenture does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may, in its sole discretion, but need not sign it. In signing or
refusing to sign such amendment or supplemental indenture, the Trustee shall be provided with and, subject to Section 9.01, shall be fully protected in relying upon in addition to the documents required by Section 12.04, an Officers’
Certificate and an Opinion of Counsel stating that such amendment or supplemental indenture is authorized or permitted by this Indenture. The Company may not sign an amendment or supplemental indenture until the Board of Directors approves it.

 Section 11.07. Effect of Supplemental Indentures. Upon the execution of any supplemental indenture under this Article, this
Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound
thereby. 
  

 59 

 ARTICLE 12 
 MISCELLANEOUS 
 Section 12.01. Trust Indenture Act Controls. If any provision of
this Indenture limits, qualifies or conflicts with the duties imposed by TIA Section 318(c), such imposed duties shall control. 
 Section 12.02. Notices. Any notice or communication to the Company or the Trustee under this Indenture shall be given in writing and delivered in person or by first-class mail (registered or certified, return receipt requested),
facsimile transmission (confirmed by delivery in person or by first-class mail (registered or certified, return receipt requested)) or guaranteed overnight courier, as follows: 
 If to the Company, to: 
 Equinix, Inc.

 301 Velocity Way, Fifth Floor 
 Foster City, California 94404 
 Facsimile No.: (650) 513-7900 
 Attention: General Counsel and Assistant Secretary 
 With a copy to: 
 Davis Polk & Wardwell 
 1600 El Camino Real 
 Menlo Park, CA 94025 
 Facsimile No.: (650) 752-2111 
 Attention: Alan Denenberg, Esq. 
 If to the Trustee, to: 
 U.S. Bank National Association 
 633 West 5th
Street, 24th Floor 
 Los Angeles, CA 90071 
 Attention: Corporate Trust Services 
 (Equinix 4.75% Convertible Subordinated Notes due 2016) 
 Fax: (213) 615-6197 
 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, if mailed by first-class mail (registered or
certified, return receipt requested); upon acknowledgment of receipt, if transmitted by facsimile; and the next Business Day after timely delivery to the courier, if sent by guaranteed overnight courier. 
 The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. 

Any notice or communication mailed to a Securityholder shall be mailed by first-class mail or delivered by guaranteed overnight courier or by other
electronic means to it at its address shown on the register kept by the Primary Registrar. Any notice or communication shall also be so mailed to any Person described in TIA Section 313(c), to the extent required by the TIA. 
  

 60 

 Failure to mail a notice or communication to a Securityholder or any defect in it shall not affect its
sufficiency with respect to other Securityholders. If a notice or communication to a Securityholder is mailed in the manner provided above, it is duly given, whether or not the addressee receives it. 
 If the Company mails a notice or communication to Holders, it shall mail a copy to the Trustee and each Agent at the same time. 
 Section 12.03. Communications by Holders with Other Holders. Securityholders may communicate pursuant to TIA Section 312(b) with other
Securityholders with respect to their rights under this Indenture or the Securities. The Company, the Trustee, the Registrar and any other person shall have the protection of TIA Section 312(c). 
 Section 12.04. Certificate and Opinion as to Conditions Precedent. 
 (a) Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee at
the request of the Trustee: 
 (i) an Officers’ Certificate in form and substance reasonably satisfactory to the Trustee
stating that, in the opinion of the signers, all conditions precedent (including any covenants, compliance with which constitutes a condition precedent), if any, provided for in this Indenture relating to the proposed action have been complied with;
and 
 (ii) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee stating that, in the opinion of
such counsel, all such conditions precedent (including any covenants, compliance with which constitutes a condition precedent) have been complied with. 
 (b) Each Officers’ Certificate and Opinion of Counsel with respect to compliance with a condition or covenant provided for in this Indenture shall include: 
 (i) a statement that the person making such certificate or opinion has read such covenant or condition; 
 (ii) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in
such certificate or opinion are based; 
 (iii) a statement that, in the opinion of such Person, he or she has made such
examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (iv) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with; 
 provided however, that with respect to matters of fact an Opinion of Counsel may rely on an Officers’ Certificate or certificates of public officials.

  

 61 

 Section 12.05. Record Date for Vote or Consent of Securityholders. The Company (or, in the
event deposits have been made pursuant to Section 10.01, the Trustee) may set a record date for purposes of determining the identity of Holders entitled to vote or consent to any action by vote or consent authorized or permitted under this
Indenture, which record date shall not be more than thirty (30) days prior to the date of the commencement of solicitation of such action. Notwithstanding the provisions of Section 11.04, if a record date is fixed, those persons who were
Holders of Securities at the close of business on such record date (or their duly designated proxies), and only those persons, shall be entitled to take such action by vote or consent or to revoke any vote or consent previously given, whether or not
such persons continue to be Holders after such record date. 
 Section 12.06. Rules by Trustee, Paying Agent, Registrar and
Conversion Agent. The Trustee may make reasonable rules (not inconsistent with the terms of this Indenture) for action by or at a meeting of Holders. Any Registrar, Paying Agent or Conversion Agent may make reasonable rules for its functions.

 Section 12.07. Legal Holidays. A “Legal Holiday” is a Saturday, Sunday or other day on which commercial banks
in New York, New York are authorized or required to close. If a payment date is a Legal Holiday, payment shall be made on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period. If a regular
record date is a Legal Holiday, the record date shall not be affected. 
 Section 12.08. Governing Law. THIS INDENTURE AND THE
SECURITIES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAW OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION
WOULD BE REQUIRED THEREBY. 
 Section 12.09. No Adverse Interpretation of Other Agreements. This Indenture may not be used to
interpret another indenture, loan or debt agreement of the Company or a Subsidiary of the Company. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 12.10. No Personal Liability of Directors, Officers, Employees or Stockholders. No past, present or future director, officer,
employee, incorporator or stockholder of the Company, as such, shall have any liability for any obligations of the Company under the Securities, this Indenture or for any claim based on, in respect of, or by reason of, such obligations or their
creation. Each Holder by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. 
 Section 12.11. Successors. All agreements of the Company in this Indenture and the Securities shall bind its successor. All agreements of the Trustee in this Indenture shall bind its successor. 

Section 12.12. Multiple Counterparts. The parties may sign multiple counterparts of this Indenture. Each signed counterpart shall be
deemed an original, but all of them together represent the same agreement. 
 Section 12.13. Reparability. In case any provisions
in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
  

 62 

 Section 12.14. Table of Contents, Headings, etc. The table of contents, cross-reference sheet
and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 
 Section 12.15. Force Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its
obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; provided that the Trustee shall use reasonable efforts consistent with accepted practices in the banking
industry to resume performance as soon as practicable under the circumstances. 
 Section 12.16. Waiver of Jury Trial. EACH OF
THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTIONS
CONTEMPLATED HEREBY. 
 [SIGNATURE PAGE FOLLOWS] 
  

 63 

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

			
	EQUINIX, INC.
		
	By:	 	 /s/    Keith D. Taylor

	Name:	 	Keith D. Taylor
	Title:	 	Chief Financial Officer
	
	U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE
		
	By:	 	 /s/    Paula Oswald

	Name:	 	Paula Oswald
	Title:	 	Vice President

  

 64 

 EXHIBIT A 
 [FORM OF FACE OF SECURITY] 
 [UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS NOTE IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES
DESCRIBED IN THE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY
TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.]1 
  
  

	 1
	 These paragraphs should be included only if the Security is a Global Security. 

  

 A-1 

 EQUINIX, INC. 
 CUSIP No.: 29444U AH9 
 4.75% CONVERTIBLE SUBORDINATED NOTES DUE JUNE 15, 2016 
 Equinix, Inc., a Delaware corporation (the “Company”, which term shall include any successor corporation under the Indenture referred to on the reverse hereof), promises to pay to Cede & Co.,
or registered assigns, the principal sum of Dollars ($        ) on June 15, 2016, or such greater or lesser amount as is indicated on the Schedule of Exchanges of Notes on the other side of this Note.

 Interest Payment Dates: June 15 and December 15, commencing December 15, 2009 
 Record Dates: June 1 and December 1 
 This Note is convertible as
specified on the other side of this Note. Additional provisions of this Note are set forth on the other side of this Note. 
 [SIGNATURE PAGE
FOLLOWS] 
  

 A-2 

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

			
	EQUINIX, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities referred to in the within-mentioned Indenture. 
 U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE

  

	
	  

	Authorized Signatory

  

 A-3 

 [FORM OF REVERSE SIDE OF SECURITY] 
 EQUINIX, INC. 
 4.75% CONVERTIBLE SUBORDINATED NOTES DUE JUNE 15, 2016 

 1. INTEREST 
 Equinix, Inc., a Delaware
corporation (the “Company”, which term shall include any successor corporation under the Indenture hereinafter referred to), promises to pay interest on the principal amount of this Note at the rate of 4.75% per annum. The Company
shall pay interest semiannually on June 15 and December 15 of each year, commencing on December 15, 2009. Interest on the Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid,
from June 12, 2009; provided, however, that if there is not an existing default in the payment of interest and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding interest payment date, interest
shall accrue from such interest payment date. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 
 2. METHOD OF PAYMENT

 The Company shall pay interest on this Note (except defaulted interest) to the person who is the Holder of this Note at the close of
business on June 1 or December 1, as the case may be, next preceding the related interest payment date. The Holder must surrender this Note to a Paying Agent to collect payment of principal. The Company will pay principal and interest in
money of the United States that at the time of payment is legal tender for payment of public and private debts. The Company may, however, pay principal and interest in respect of any Certificated Security by check or wire payable in such money;
provided, however, that a beneficial owner of interests in any Global Security will be paid by wire transfer in immediately available funds in accordance with the rules and procedures of the Depository Trust Company (“DTC”) and a Holder of
a Certificated Security with an aggregate principal amount in excess of $2,000,000 will be paid by wire transfer in immediately available funds at the election of such Holder if such Holder has provided wire transfer instructions to the Company and
the Trustee at least 10 Business Days prior to the payment date. 
 3. PAYING AGENT, REGISTRAR AND CONVERSION AGENT 
 Initially, U.S. Bank National Association, a national banking association (the “Trustee”, which term shall include any successor trustee
under the Indenture hereinafter referred to), will act as Paying Agent, Registrar and Conversion Agent. The Company may change any Paying Agent, Registrar or Conversion Agent without notice to the Holder. The Company or any of its Subsidiaries may,
subject to certain limitations set forth in the Indenture, act as Paying Agent or Registrar. 
 4. INDENTURE, LIMITATIONS 
 This Note is one of a duly authorized issue of Notes of the Company designated as its 4.75% Convertible Subordinated Notes due June 15, 2016 (the
“Notes”), issued under an Indenture, dated as of June 12, 2009 (together with any amendments or supplemental indentures 

  

 A-4 

 
thereto, the “Indenture”), between the Company and the Trustee. The terms of this Note include those stated in the Indenture and those
required by or made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended, as in effect on the date of the Indenture. This Note is subject to all such terms, and the Holder of this Note is referred to the Indenture and
said Act for a statement of them. The Notes are unsecured obligations of the Company limited to $325,000,000 aggregate principal amount (or $373,750,000 if the Underwriters exercise their option in full to purchase additional Notes in compliance
with the Underwriting Agreement), except that the Company at any time or from time to time may, without the consent of any Holder, issue additional Notes having the same terms as the Notes initially issued under the Indenture, and entitled to all of
the benefits of the Indenture. The Indenture does not limit other debt of the Company, secured or unsecured. 
 5. [Reserved] 
 6. [Reserved] 
 7. REPURCHASE OF NOTES AT OPTION OF HOLDER UPON A
FUNDAMENTAL CHANGE 
 Subject to the terms and conditions of the Indenture, if a Fundamental Change occurs, each Holder will, upon receipt of
the notice of the occurrence of a Fundamental Change, have the right to require the Company to repurchase for cash any or all of such Holder’s Notes, or any portion of those Securities that is equal to $1,000 or an integral multiple of $1,000,
on the date that is 45 days after the Fundamental Change Repurchase Notice at a price equal to 100% of the principal amount of the Notes to be repurchased plus accrued and unpaid interest, if any, to (but excluding) the Fundamental Change Repurchase
Date. 
 Holders have the right to withdraw any Fundamental Change repurchase notice, in whole or in part, by delivering to the Paying Agent
a written notice of withdrawal in accordance with the provisions of the Indenture. 
 If cash sufficient to pay the Fundamental Change
Repurchase Price of all Notes or portions thereof to be purchased as of the Fundamental Change Repurchase Date, has been deposited with the Paying Agent on or prior to the Business Day following the Fundamental Change Repurchase Date, all interest
shall cease to accrue on such Notes (or portions thereof) immediately after such Fundamental Change Repurchase Date and the Holder thereof shall have no other rights as such other than the right to receive the Fundamental Change Repurchase Price,
upon surrender of such Notes. 
 8. CONVERSION 
 Upon satisfaction of one or more of the conditions in Section 4.01 of the Indenture, a Holder of a Note may convert the principal amount of such Note (or any portion thereof equal to $1,000 or any integral multiple of $1,000 in excess
thereof) into cash and /or shares of Common Stock at any time prior to the Close of Business on the second Scheduled Trading Day immediately preceding the Final Maturity Date, at the Applicable Conversion Rate in effect on the Conversion Date;
provided, however, that, if such Note is submitted or presented for repurchase pursuant to Article 3 of the Indenture, such conversion right shall terminate at the Close of Business on the second 

  

 A-5 

 
Scheduled Trading Day immediately preceding the Fundamental Change Repurchase Date, for such Note (unless the Company shall default in making the Fundamental
Change Repurchase Price payment when due, in which case the conversion right shall terminate at the close of business on the date such default is cured and such Note is purchased, as the case may be). 
 The Conversion Rate means 11.8599 shares of Common Stock per $1,000 principal amount of Notes, subject to adjustment under certain circumstances as
provided in the Indenture. 
 Upon surrender of Notes for conversion, the Company will have the right to deliver, in lieu of shares of Common
Stock, cash or a combination of cash and shares of Common Stock in the amounts provided in Section 4.04 of the Indenture. 
 No
fractional shares will be issued upon conversion; in lieu thereof, an amount will be paid in cash as provided in Section 4.04 of the Indenture. 
 To convert a Note, a Holder must follow the procedures set forth in the Indenture. 
 A Note in respect of which a Holder had
delivered a Fundamental Change Repurchase Notice exercising the option of such Holder to require the Company to purchase such Note may be converted only if the Fundamental Change Repurchase Notice is withdrawn in accordance with the terms of the
Indenture. 
 9. DENOMINATIONS, TRANSFER, EXCHANGE 
 The Notes are in registered form, without coupons, in denominations of $1,000 and integral multiples of $1,000. A Holder may register the transfer of or exchange Notes in accordance with the Indenture. The Registrar may require a Holder,
among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes or other governmental charges that may be imposed in relation thereto by law or permitted by the Indenture. 
 10. PERSONS DEEMED OWNERS 
 The Holder of a Note may be
treated as the owner of it for all purposes. 
 11. UNCLAIMED MONEY 
 The Trustee and each Paying Agent shall pay to the Company upon request any money held by them for the payment of principal or interest that remains unclaimed for two years after a right to such money has matured.
After payment to the Company, Holders entitled to money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another person. 
  

 A-6 

 12. AMENDMENT, SUPPLEMENT AND WAIVER 
 Subject to certain exceptions, the Indenture or the Notes may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the Notes then outstanding, and an
existing default or Event of Default and its consequence or compliance with any provision of the Indenture or the Notes may be waived in a particular instance with the consent of the Holders of a majority in aggregate principal amount of the Notes
then outstanding. Without the consent of or notice to any Holder, the Company and the Trustee may amend or supplement the Indenture or the Notes to, among other things, cure any ambiguity, defect or inconsistency or make any other change that does
not adversely affect the rights of any Holder. 
 13. SUCCESSOR ENTITY 
 When a successor corporation assumes all the obligations of its predecessor under the Notes and the Indenture in accordance with the terms and conditions of the Indenture, the predecessor corporation (except in
certain circumstances specified in the Indenture) shall be released from those obligations. 
 14. DEFAULTS AND REMEDIES 
 The definition of Event of Default is in the Indenture. If an Event of Default (other than as a result of certain events of bankruptcy, insolvency or
reorganization of the Company) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding may declare the Notes due and immediately payable at their principal amount together with
accrued and unpaid interest, all as and to the extent provided in the Indenture. If an Event of Default occurs as a result of certain events of bankruptcy, insolvency or reorganization of the Company, all the principal of the Notes and the interest
thereon shall become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder, all as and to the extent provided in the Indenture. Holders may not enforce the Indenture or the Notes except as provided
in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Notes. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Notes then outstanding may direct the
Trustee in its exercise of any trust or power. The Trustee may withhold from Holders notice of any continuing default (except a default in payment of principal or interest) if it determines that withholding notice is in their interests. The Company
is required to file periodic reports with the Trustee as to the absence of default. 
 15. TRUSTEE DEALINGS WITH THE COMPANY 
 U.S. Bank National Association, a national banking association, the Trustee under the Indenture, in its individual or any other capacity, may make loans
to, accept deposits from and perform services for the Company or an Affiliate of the Company, and may otherwise deal with the Company or an Affiliate of the Company, as if it were not the Trustee. 
 16. NO RECOURSE AGAINST OTHERS 
 No past, present or future
director, officer, employee, incorporator or stockholder of the Company, as such, shall have any liability for any obligations of the Company under the Notes, the Indenture or for any claim based on, in respect of, or by reason of, such obligations
or their creation. The Holder of this Note by accepting this Note waives and releases all such liability. The waiver and release are part of the consideration for the issuance of this Note. 
  

 A-7 

 17. AUTHENTICATION 
 This Note shall not be valid until the Trustee or an authenticating agent manually signs the certificate of authentication on the other side of this Note. 
 18. ABBREVIATIONS AND DEFINITIONS 
 Customary abbreviations may be used in the name of the Holder or an assignee, such as: TEN COM
(= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and UGMA (= Uniform Gifts to Minors Act). 
 All terms used in this Note but not specifically defined herein are defined in the Indenture and are used herein as so defined. 
 19. RANK 
 The Indebtedness evidenced by the Notes is, to the
extent and in the manner provided in the Indenture, subordinated and subject in right of payment to the prior payment in full of all amounts then due on all Senior Indebtedness of the Company. Each Holder of this Note, by accepting the same,
(a) agrees to and shall be bound by such provisions, (b) authorizes and directs the Trustee on such Holder’s behalf to take such action as may be necessary or appropriate to effectuate the subordination so provided and
(c) appoints the Trustee such Holder’s attorney-in-fact for any and all such purposes. 
 20. INDENTURE TO CONTROL; GOVERNING LAW 
 In the case of any conflict between the provisions of this Note and the Indenture, the provisions of the Indenture shall control. 
 THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAW OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO APPLICABLE
PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 
 The
Company will furnish to any Holder, upon written request and without charge, a copy of the Indenture. Requests may be made to: Equinix, Inc., 301 Velocity Way, Fifth Floor, Foster City, California 94404, Facsimile No.: (650) 513-7900,
Attention: General Counsel and Assistant Secretary. 
  

 A-8 

 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. number)
	  

	  

	  

	  

	  

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

	
	  

	agent to transfer this Note on the books of the Company. The agent may substitute another to act for him or her.

  

					
	Date:	 		 	Your Signature:
			
	  
	 		 	  

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

  
  

	*	Signature guaranteed by: 

 By: 
  
  

	*	The signature must be guaranteed by an institution which is a member of one of the following recognized signature guaranty programs: (i) the Securities Transfer Agent Medallion
Program (STAMP); (ii) the New York Stock Exchange Medallion Program (MSP); (iii) the Stock Exchange Medallion Program (SEMP); or (iv) such other guaranty program acceptable to the Trustee. 

  

 A-9 

 CONVERSION NOTICE 
 To convert this Note into Common Stock of the Company, check the box: 
 To convert only part of this Note, state the
principal amount to be converted (must be $1,000 or a integral multiple of $1,000): $ 
 If you want the stock certificate made out in another person’s
name, fill in the form below: 
  

	
	  

	(Insert assignee’s social security or tax I.D. number)
	  

	  

	  

	  

	  

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

  

					
	Date:	 		 	Your Signature:
			
	  
	 		 	  

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

  
  

	*	Signature guaranteed by: 

 By: 
  
  

	*	The signature must be guaranteed by an institution which is a member of one of the following recognized signature guaranty programs: (i) the Securities Transfer Agent Medallion
Program (STAMP); (ii) the New York Stock Exchange Medallion Program (MSP); (iii) the Stock Exchange Medallion Program (SEMP); or (iv) such other guaranty program acceptable to the Trustee. 

  

 A-10 

 REPURCHASE EXERCISE NOTICE 
 UPON A FUNDAMENTAL CHANGE 
 To: Equinix, Inc. 
 The undersigned registered owner of this Note hereby irrevocably acknowledges receipt of a notice from Equinix, Inc. (the “Company”) as to the occurrence of a
Fundamental Change with respect to the Company and requests and instructs the Company to redeem the entire principal amount of this Note, or the portion thereof (which is $1,000 or an integral multiple thereof) below designated, in accordance with
the terms of the Indenture referred to in this Note at the Fundamental Change Repurchase Price, together with accrued interest to, but excluding, the Repurchase Date, to the registered Holder hereof. 
  

			
	Dated:	  	
		
	  
	  	  

		  	  

		  	  

		  	Signature(s)
		
		  	Signature(s) must be guaranteed by a qualified guarantor institution with membership in an approved signature guarantee program pursuant to Rule 17Ad-15 under the Securities Exchange Act of
1934.
		
		  	  

		  	Signature Guaranty

 Principal amount to be redeemed 
 (in an integral multiple of $1,000, if less than all): 
  
  
 NOTICE: The signature to the foregoing Election must
correspond to the name as written upon the face of the Note in every particular, without alteration or any change whatsoever. 
  

 A-11 

 SCHEDULE OF EXCHANGES OF NOTES2 
 The following exchanges, repurchases or conversions
of a part of this Global Note have been made: 
  

									
	 Date of Exchange,
 Repurchase or
 Conversion
	 	 Amount of Decrease
 in Principal Amount
 of this Global
Note
	 	 Amount of Increase
 in Principal Amount
 of this Global
Note
	 	 Principal Amount of
 this Global Note
 Following Such

 Decrease or Increase
	 	 Signature of
 Authorized Signatory
 of Securities
 Custodian

					
	 
	 		 		 		 	

  

	2	This schedule should be included only if the Security is a Global Security. 

  

 A-12

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