Document:

Indenture dated July 29,2003 for 1.50% Senior Subordinated Notes due 2023

 Exhibit 4.5 
  

HEALTH MANAGEMENT ASSOCIATES, INC. 
  
 1.50% Convertible Senior Subordinated Notes 
 due 2023 
  

  
 INDENTURE 
  
 Dated as of July 29, 2003 
  

  
 WACHOVIA BANK, NATIONAL ASSOCIATION 
  
 TRUSTEE 
  

 TABLE OF CONTENTS 
  

  

	 	  	PAGE

	 ARTICLE 1
	  	 
	 DEFINITIONS AND INCORPORATION BY
REFERENCE
	  	 
	 SECTION 1.01. Definitions
	  	1
	 SECTION 1.02. Other Definitions
	  	10
	 SECTION 1.03. Incorporation by Reference of Trust Indenture Act
	  	11
	 SECTION 1.04. Rules of Construction
	  	11
	 SECTION 1.05. Acts of Holders
	  	12
		
	 ARTICLE 2
	  	 
	 THE SECURITIES
	  	 
	 SECTION 2.01. Form and Dating
	  	13
	 SECTION 2.02. Execution and Authentication
	  	14
	 SECTION 2.03. Registrar, Paying Agent and Conversion Agent
	  	15
	 SECTION 2.04. Paying Agent to Hold Money and Securities in Trust
	  	16
	 SECTION 2.05. Securityholder Lists
	  	16
	 SECTION 2.06. Transfer and Exchange
	  	16
	 SECTION 2.07. Replacement Securities
	  	18
	 SECTION 2.08. Outstanding Securities; Determinations of Holders’ Action
	  	19
	 SECTION 2.09. Temporary Securities
	  	19
	 SECTION 2.10. Cancellation
	  	20
	 SECTION 2.11. Persons Deemed Owners
	  	20
	 SECTION 2.12. Global Securities
	  	20
	 SECTION 2.13. CUSIP Numbers
	  	23
		
	 ARTICLE 3
	  	 
	 REDEMPTION AND PURCHASES
	  	 
	 SECTION 3.01. Right to Redeem; Notices to Trustee
	  	23
	 SECTION 3.02. Selection of Securities to Be Redeemed
	  	24
	 SECTION 3.03. Notice of Redemption
	  	24
	 SECTION 3.04. Effect of Notice of Redemption
	  	25
	 SECTION 3.05. Deposit of Redemption Price
	  	25
	 SECTION 3.06. Securities Redeemed in Part
	  	25
	 SECTION 3.07. Conversion Arrangement on Call for Redemption
	  	25
	 SECTION 3.08. Purchase of Securities at Option of the Holder upon Fundamental Change
	  	26
	 SECTION 3.09. Purchase of Securities at Option of the Holder
	  	29
	 SECTION 3.10. Payment in Stock or Cash
	  	30
	 SECTION 3.11. Effect of Purchase Notice or Fundamental Change Purchase Notice
	  	37
	 SECTION 3.12. Deposit of Purchase Price or Fundamental Change Purchase Price
	  	38

	 	  	PAGE

	 SECTION 3.13. Securities Purchased in Part
	  	39
	 SECTION 3.14. Covenant to Comply with Securities Laws upon Purchase of Securities
	  	39
	 SECTION 3.15. Repayment to the Company
	  	39
		
	 ARTICLE 4
	  	 
	 COVENANTS
	  	 
	 SECTION 4.01. Payment of Securities
	  	40
	 SECTION 4.02. SEC and Other Reports
	  	40
	 SECTION 4.03. Compliance Certificate
	  	40
	 SECTION 4.04. Further Instruments and Acts
	  	41
	 SECTION 4.05. Maintenance of Office or Agency
	  	41
	 SECTION 4.06. Delivery of Certain Information
	  	41
	 SECTION 4.07. Contingent Debt Tax Treatment
	  	42
	 SECTION 4.08. Calculation of Original Issue Discount
	  	43
		
	 ARTICLE 5
	  	 
	 SUCCESSOR CORPORATION
	  	 
	 SECTION 5.01. When Company May Merge or Transfer Assets
	  	43
		
	 ARTICLE 6
	  	 
	 DEFAULTS AND REMEDIES
	  	 
	 SECTION 6.01. Events of Default
	  	44
	 SECTION 6.02. Acceleration
	  	46
	 SECTION 6.03. Other Remedies
	  	47
	 SECTION 6.04. Waiver of Past Defaults
	  	47
	 SECTION 6.05. Control by Majority
	  	48
	 SECTION 6.06. Limitation on Suits
	  	48
	 SECTION 6.07. Rights of Holders to Receive Payment
	  	48
	 SECTION 6.08. Collection Suit by Trustee
	  	49
	 SECTION 6.09. Trustee May File Proofs of Claim
	  	49
	 SECTION 6.10. Priorities
	  	50
	 SECTION 6.11. Undertaking for Costs
	  	50
	 SECTION 6.12. Waiver of Stay, Extension or Usury Laws
	  	51
		
	 ARTICLE 7
	  	 
	 TRUSTEE
	  	 
	 SECTION 7.01. Duties and Responsibilities of the Trustee; During Default; Prior to Default
	  	51
	 SECTION 7.02. Certain Rights of the Trustee
	  	52
	 SECTION 7.03. Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds
Thereof
	  	53
	 SECTION 7.04. Trustee and Agents May Hold Securities; Collections, etc
	  	54
	 SECTION 7.05. Moneys Held by Trustee
	  	54

  

 ii 

	 	  	PAGE

	 SECTION 7.06. Compensation and Indemnification of Trustee and its Prior Claim
	  	54
	 SECTION 7.07. Right of Trustee to Rely on Officers’ Certificate, etc
	  	55
	 SECTION 7.08. Conflicting Interests
	  	55
	 SECTION 7.09. Persons Eligible for Appointment as Trustee
	  	55
	 SECTION 7.10. Resignation and Removal; Appointment of Successor Trustee
	  	55
	 SECTION 7.11. Acceptance of Appointment by Successor Trustee
	  	57
	 SECTION 7.12. Merger, Conversion, Consolidation or Succession to Business of Trustee
	  	57
	 SECTION 7.13. Preferential Collection of Claims Against the Company
	  	58
	 SECTION 7.14. Reports by the Trustee
	  	58
	 SECTION 7.15. Trustee to Give Notice of Default, but May Withhold in Certain Circumstances
	  	58
		
	 ARTICLE 8
	  	 
	 DISCHARGE OF INDENTURE
	  	 
	 SECTION 8.01. Discharge of Liability on Securities
	  	59
	 SECTION 8.02. Repayment to the Company
	  	59
		
	 ARTICLE 9
	  	 
	 AMENDMENTS
	  	 
	 SECTION 9.01. Without Consent of Holders
	  	60
	 SECTION 9.02. With Consent of Holders
	  	60
	 SECTION 9.03. Compliance with Trust Indenture Act
	  	61
	 SECTION 9.04. Revocation and Effect of Consents, Waivers and Actions
	  	61
	 SECTION 9.05. Notation on or Exchange of Securities
	  	62
	 SECTION 9.06. Trustee to Sign Supplemental Indentures
	  	62
	 SECTION 9.07. Effect of Supplemental Indentures
	  	62
		
	 ARTICLE 10
	  	 
	 PAYMENT OF INTEREST
	  	 
	 SECTION 10.01. Payment of Interest; Interest Rights Preserved
	  	62
		
	 ARTICLE 11
	  	 
	 CONVERSION
	  	 
	 SECTION 11.01. Conversion Privilege
	  	64
	 SECTION 11.02. Conversion Procedure
	  	65
	 SECTION 11.03. Fractional Shares
	  	68
	 SECTION 11.04. Taxes on Conversion
	  	68
	 SECTION 11.05. Company to Provide Stock
	  	68
	 SECTION 11.06. Adjustment for Change in Capital Stock
	  	69
	 SECTION 11.07. Adjustment for Rights Issue
	  	69

  

 iii 

	 	  	PAGE

	 SECTION 11.08. Adjustment for Other Distributions
	  	70
	 SECTION 11.09. Adjustments for Cash Dividends or Distributions
	  	71
	 SECTION 11.10. Adjustments for Tender or Exchange Offers
	  	72
	 SECTION 11.11. When Adjustment May Be Deferred
	  	73
	 SECTION 11.12. When No Adjustment Required
	  	73
	 SECTION 11.13. Notice of Adjustment
	  	73
	 SECTION 11.14. Voluntary Increase
	  	73
	 SECTION 11.15. Notice of Certain Transactions
	  	73
	 SECTION 11.16. Reorganization of Company; Special Distributions
	  	74
	 SECTION 11.17. Company Determination Final
	  	74
	 SECTION 11.18. Trustee’s Adjustment Disclaimer
	  	76
	 SECTION 11.19. Simultaneous Adjustments
	  	76
	 SECTION 11.20. Successive Adjustments
	  	76
	 SECTION 11.21. Rights Issued in Respect of Class A Common Stock Issued upon Conversion
	  	76
		
	 ARTICLE 12
	  	 
	 SUBORDINATION
	  	 
	 SECTION 12.01. Agreement to Subordinate
	  	77
	 SECTION 12.02. Liquidation, Dissolution, Bankruptcy
	  	77
	 SECTION 12.03. Default on Designated Senior Debt
	  	77
	 SECTION 12.04. When Distribution Must Be Paid Over
	  	78
	 SECTION 12.05. Subrogation
	  	78
	 SECTION 12.06. Relative Rights; Subordination Not to Prevent Events of Default or Limit Right to
Accelerate
	  	78
	 SECTION 12.07. Subordination May Not Be Impaired by Company
	  	79
	 SECTION 12.08. Rights of Trustee
	  	79
	 SECTION 12.09. Distributions and Notices to, and Notices and Consents by, Representatives of Holders of Senior
Debt
	  	79
	 SECTION 12.10. Trustee Entitled to Rely
	  	79
	 SECTION 12.11. Trustee to Effectuate Subordination
	  	80
	 SECTION 12.12. Trustee Not Fiduciary for Holders of Senior Debt
	  	80
	 SECTION 12.13. Reliance by Holder of Senior Debt on Subordination Provisions; No Waiver
	  	80
		
	 ARTICLE 13
	  	 
	 MISCELLANEOUS
	  	 
	 SECTION 13.01. Trust Indenture Act Controls
	  	81
	 SECTION 13.02. Notices
	  	81
	 SECTION 13.03. Communication by Holders with Other Holders
	  	82
	 SECTION 13.04. Certificate and Opinion as to Conditions Precedent
	  	82
	 SECTION 13.05. Statements Required in Certificate or Opinion
	  	82
	 SECTION 13.06. Separability Clause
	  	82

  

 iv 

	 	  	PAGE

	 SECTION 13.07. Rules by Trustee, Paying Agent, Conversion Agent and Registrar
	  	83
	 SECTION 13.08. Legal Holidays
	  	83
	 SECTION 13.09. GOVERNING LAW
	  	83
	 SECTION 13.10. No Recourse Against Others
	  	83
	 SECTION 13.11. Successors
	  	83
	 SECTION 13.12. Multiple Originals
	  	83

  

 v 

 INDENTURE dated as of July 29, 2003 between HEALTH MANAGEMENT ASSOCIATES, INC., a Delaware corporation
(the “Company”), and WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association, having an office in Miami, Florida (in such capacity, together with its successors in trust, the “Trustee”) 
  
 Each party agrees as follows for the benefit of the other party and for the
equal and ratable benefit of the Holders of the Company’s 1.50% Convertible Senior Subordinated Notes due 2023 (the “Securities”): 
  
 ARTICLE 1 
  
 DEFINITIONS AND INCORPORATION BY REFERENCE 
  
 SECTION 1.01. Definitions. 
  
 “144A Global Security” means a permanent Global Security in the form of the Security attached hereto as
Exhibit A-1, and that is deposited with and registered in the name of the Depositary, representing Securities sold in reliance on Rule 144A under the Securities Act. 
  
 “Affiliate” of any specified person means any other person directly or indirectly controlling or controlled
by or under direct or indirect common control with such specified person. For purposes of this definition, “control” when used with respect to any specified person means the power to direct or cause the direction of 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. 

 
 “Applicable Procedures” means, with respect to any
transfer or transaction involving a Global Security or beneficial interest therein, the rules and procedures of the Depositary for such Security, in each case to the extent applicable to such transaction and as in effect from time to time.

  
 “Beneficial Owner” shall be determined in
accordance with Rule 13d-3 promulgated by the Commission under the Exchange Act. 
  
 “Board of Directors” means either the board of directors of the Company or any duly authorized committee of such board. 
  
 “Business Day” means each day of the year other than a Saturday or a Sunday on which banking institutions
are not required or authorized to close in the City of New York. 

 “Capital Lease Obligation” means, at the time any determination thereof is to be made,
the amount of the liability in respect of a capital lease that would at such time be required to be capitalized on a balance sheet in accordance with GAAP. 
  
 “Capital Stock” for any corporation means any and all shares, interests, rights to purchase, warrants, options, participations or other
equivalents of or interests in (however designated) stock issued by that corporation. 
  
 “Class A Common Stock” means shares of class A common stock, $0.01 par value, of the Company as it exists on the date of this Indenture or any other shares of Capital Stock of the Company into which
the Class A Common Stock shall be reclassified or changed. 
  
 “Closing Date” means the date of this Indenture. 
  
 “Common Equity” of any Person means capital stock of such Person that is generally entitled to (1) vote in the election of directors of such Person or (2) if such Person is not a corporation, vote or
otherwise participate in the selection of the governing body, partners, managers or others that will control the management or policies of such Person. 
  
 “Common Stock” means any stock of any class of the Company which has no preference in respect of dividends or of amounts payable in the
event of any voluntary or involuntary liquidation, dissolution or winding up of the Company. 
  
 “Company” means the party named as the “Company” in the first paragraph of this Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture and,
thereafter, shall mean such successor. The foregoing sentence shall likewise apply to any subsequent successor or successors. 
  
 “Company Request” or “Company Order” means a written request or order signed in the name of the Company by any two
Officers. 
  
 “Continuing Director” means a
director who either was a member of the Company’s Board of Directors on the date of this Indenture or who becomes a director of the Company subsequent to such date and whose election, or nomination for election by the Company’s
stockholders, is duly approved by a majority of the Continuing Directors on the Board of Directors at the time of such approval, either by a specific vote or by approval of the proxy statement issued by the Company on behalf of the entire Board of
Directors of the Company in which such individual is named as nominee for director. 
  
 “Controlled” means ownership or control of more than 50% of the voting power of such entity. 
  

 2 

 “Conversion Price” means as of any date of determination $1,000 divided by the
Conversion Rate (as defined in Section 11.01) as of such date. 
  
 “Corporate Trust Office” means the principal office of the Trustee at which at any time its corporate trust business shall be administered, which office at the date hereof is located at 200 South Biscayne Boulevard, 14th
Fl. Miami, Florida 33131, Attn: Corporate Trust Group, or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the principal corporate trust office of any successor Trustee (or such other
address as a successor Trustee may designate from time to time by notice to the Holders and the Company). 
  
 “Debt” means, with respect to any Person, without duplication, 
  
 (1) all indebtedness of such Person for borrowed money; 
  
 (2) all obligations of such Person evidenced by bonds,
debentures, notes or other similar instruments; 
  
 (3) all obligations of such Person in respect of letters of credit, bankers’ acceptances or other similar instruments, excluding obligations in respect of trade letters of credit or bankers’ acceptances issued in respect of trade
payables; 
  
 (4) all obligations of such Person
to pay the deferred and unpaid purchase price of property or services which are recorded as liabilities under GAAP, excluding trade payables arising in the ordinary course of business; 
  
 (5) all Capital Lease Obligations of such Person as lessee under such leases; 
  
 (6) all Debt of other Persons Guaranteed by such Person to
the extent so Guaranteed; 
  
 (7) all Debt of
other Persons secured by a Lien on any asset of such Person, whether or not such Debt is assumed by such Person; and 
  
 (8) all Hedging Obligations of such Person. 
  
 The amount of Debt of any Person will be deemed to be: 
  

 3 

 (A) with respect to contingent obligations, the maximum liability upon the occurrence of
the contingency giving rise to the obligation; 
  
 (B) with respect to Debt secured by a Lien on an asset of such Person but not otherwise the obligation, contingent or otherwise, of such Person, the lesser of (x) the fair market value of such asset on the date the Lien attached and (y) the
amount of such Debt; 
  
 (C) with respect to any
Debt issued with original issue discount, the face amount of such Debt less the remaining unamortized portion of the original issue discount of such Debt; 
  
 (D) with respect to any Hedging Obligation, the net amount payable if such Hedging Obligation terminated at that time due to default by
such Person; and 
  
 (E) otherwise, the
outstanding principal amount thereof. 
  
 “Default” means any event which is, or after notice or passage of time or both would be, an Event of Default. 
  
 “Designated Senior Debt” means (i) the Debt under that certain Credit Agreement dated November 30, 1999 by and among the Company, Bank of
America, N.A., as administrative agent, Wachovia Bank, National Association (formerly First Union National Bank) and The Chase Manhattan Bank, as syndication agents, and the lenders to the party thereto, as such agreement may be amended from time to
time, and (ii) any other Senior Debt which, at the date of determination, has an aggregate principal amount outstanding of at least $7,500,000 and is specifically designated as “Designated Senior Debt” in the instrument governing such
Senior Debt and in an Officers’ Certificate received by the Trustee. 
  
 “Final Maturity” or “Final Maturity Date” shall be August 1, 2023. 
  
 A “Fundamental Change” shall be deemed to have occurred at such time after the original issuance of the Securities as any of the
following occurs: (a) any “person” or “group” within the meaning of Section 13(d) of the Exchange Act, other than the Company, any Subsidiary of the Company, any employee benefit plan of the Company or any such
Subsidiary, files a Schedule TO (or any other schedule, form or report under the Exchange Act) disclosing that such person or group has become the direct or indirect ultimate Beneficial Owner, of Common Equity of the Company representing more than
50% of the voting power of the Company’s Common Equity; (b) consummation of any share exchange, consolidation or merger of the Company pursuant to which the Class A Common 

  

 4 

 
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 Company’s consolidated assets (considered together with the Company’s Subsidiaries) to any Person (other than one of the Company’s Subsidiaries); provided, however, that a transaction where the holders of
more than 50% of all classes of the Company’s Common Equity immediately prior to such transaction own, directly or indirectly, more than 50% of all classes of Common Equity of the continuing or surviving corporation or transferee immediately
after such event shall not be a Fundamental Change; or (c) Continuing Directors cease to constitute at least a majority of the Company’s Board of Directors; provided, however, that a Fundamental Change shall not be deemed to have occurred if
either (I) the Sale Price per share of the Class A Common Stock for any five Trading Days within the period of 10 consecutive Trading Days ending immediately before the later of the Fundamental Change or the announcement thereof shall equal or
exceed 105% of the Conversion Price immediately before the Fundamental Change or public announcement thereof or (II) at least 90% of the consideration (excluding Cash payments for fractional shares) in the transaction or transactions constituting
the Fundamental Change consists of shares of Class A Common Stock with full voting rights traded on a national securities exchange or quoted on the NASDAQ Stock Market (or which shall be so traded or quoted when issued or exchanged in connection
with such Fundamental Change) (such securities being referred to as “Publicly Traded Securities”) and as a result of such transaction or transactions the Securities become convertible into such Publicly Traded Securities (excluding
Cash payments for fractional shares). 
  
 “Fundamental
Change Purchase Date” has the meaning specified in Section 3.08(a). 
  
 “Fundamental Change Purchase Notice” means the form “Option to Elect Purchase Upon a Fundamental Change” contained on the reverse of the Securities. 
  
 “Fundamental Change Purchase Price” has the meaning
specified in Section 3.08(a). 
  
 “GAAP” means
United States generally accepted accounting principles as in effect from time to time. 
  
 “Global Securities” means Securities that are in the form of the Securities attached hereto as Exhibit A-1, and to the extent that such Securities are required to bear the Legend required by Section
2.06(f), such Securities will be in the form of a 144A Global Security. 
  
 “Guarantee” means a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course of business), direct or indirect, in 

  

 5 

 
any manner (including, without limitation, letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness.

  
 “Hedging Obligations” means, with respect to
any Person, the obligations of such Person under (i) interest rate swap agreements, interest rate cap agreements and interest rate collar agreements, (ii) foreign exchange contracts or currency swap agreements and (iii) other agreements or
arrangements designed to protect such Person against fluctuations in interest rates or currency values. 
  
 “Holder” or “Securityholder” means a person in whose name a Security is registered on the Registrar’s books.

  
 “Indebtedness” means, with respect to any
Person, any indebtedness of such Person, whether or not contingent, in respect of borrowed money or evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof) or banker’s
acceptances or representing Capital Lease Obligations or the balance deferred and unpaid of the purchase price of any property or representing any Hedging Obligations, except any such balance that constitutes an accrued expense or trade payable, if
and to the extent any of the foregoing indebtedness (other than letters of credit and Hedging Obligations) would appear as a liability upon a balance sheet of such Person prepared in accordance with GAAP, as well as all indebtedness of others
secured by a Lien on any asset of such Person (whether or not such indebtedness is assumed by such Person) and, to the extent not otherwise included, the Guarantee by such Person of any indebtedness of any other Person. 
  
 “Indenture” means this Indenture, as amended or supplemented
from time to time in accordance with the terms hereof, including the provisions of the TIA that are deemed to be a part hereof. 
  
 “Interest Payment Date” means February 1 and August 1 of each year, commencing February 1, 2004 
  
 “Issue Date” of any Security means the date on which the
Security was originally issued or deemed issued as set forth on the face of the Security. 
  
 “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset given to secure Indebtedness, whether or not filed,
recorded or otherwise perfected under applicable law (including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or
agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction with respect to any such lien, pledge, charge or security interest). 
  

 6 

 “Liquidated Damages” has the meaning specified for “Liquidated Damages
Amount” in Section 4 of the Registration Rights Agreement. 
  
 “Moody’s” means Moody’s Investors Service, Inc. or any successor rating agency. 
  
 “Obligations” means, with respect to any Debt, all obligations (whether in existence on the Issue Date or arising afterwards, absolute or
contingent, direct or indirect) for or in respect of principal (when due, upon acceleration, upon redemption, upon mandatory repayment or repurchase pursuant to a mandatory offer to purchase, or otherwise), premium, interest, penalties, fees,
indemnification, reimbursement and other amounts payable and liabilities with respect to such Debt, including all interest accrued or accruing after the commencement of any bankruptcy, insolvency or reorganization or similar case or proceeding at
the contract rate (including, without limitation, any contract rate applicable upon default) specified in the relevant documentation, whether or not the claim for such interest is allowed as a claim in such case or proceeding. 
  
 “Officer” means the Chairman of the Board, the Vice
Chairman, the Chief Executive Officer, the President, any Executive Vice President, any Senior Vice President, any Vice President, the Treasurer or the Secretary or any Assistant Treasurer or Assistant Secretary of the Company. 
  
 “Officers’ Certificate” means a written certificate
containing the information specified in Sections 13.04 and 13.05, signed in the name of the Company by any two Officers, and delivered to the Trustee. An Officers’ Certificate given pursuant to Section 4.03 shall be signed
by an authorized financial or accounting Officer of the Company but need not contain the information specified in Sections 13.04 and 13.05. 
  
 “Opinion of Counsel” means a written opinion containing the information specified in Sections 13.04 and 13.05 from legal
counsel who is acceptable to the Trustee. The counsel may be an employee of, or counsel to, the Company or , as applicable herein, the Trustee. 
  
 “person” or “Person” means any individual, corporation, limited liability company, partnership, joint venture,
association, joint-stock company, trust, unincorporated organization, or government or any agency or political subdivision thereof. 
  
 “Publicly Traded Securities” has the meaning specified in the definition of Fundamental Change. 
  
 “Redemption Date” or “redemption date”
means the date specified for redemption of the Securities in accordance with the terms of the Securities and this Indenture. 
  

 7 

 “Redemption Price” or “redemption price” shall have the meaning set
forth in paragraph 5 of the Securities. 
  
 “Registration
Rights Agreement” means that certain registration rights agreement dated July 29, 2003 entered into among the Company, Banc of America Securities LLC, Lehman Brothers Inc. and Wachovia Capital Markets LLC, covering the rights of Holders to
have their Securities registered under the Securities Act. 
  
 “Regular Record Date” means, with respect to the interest payable on any Interest Payment Date, the close of business on July 15 or January 15 (whether or not a Business Day), as the case may be, next preceding such
Interest Payment Date. 
  
 “Responsible Officer”
means, when used with respect to the Trustee, any officer within the corporate trust department of the Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of
the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and
familiarity with the particular subject. 
  
 “Restricted
Security” means a Security required to bear the restrictive legend set forth in the form of Security set forth in Exhibits A-1 and A-2 of this Indenture. 
  
 “Rule 144A” means Rule 144A under the Securities Act (or any successor provision), as it may be amended
from time to time. 
  
 “Standard &
Poor’s” shall mean Standard & Poor’s Ratings Service, a division of The McGraw-Hill Companies Inc., and its successors. 
  
 “SEC” means the Securities and Exchange Commission. 
  
 “Securities” means any of the Company’s Convertible Senior Subordinated Notes due 2023, as amended or
supplemented from time to time, issued under this Indenture. 
  
 “Securityholder” or “Holder” means a person in whose name a Security is registered on the Registrar’s books. 
  
 “Senior Debt” or “Senior Indebtedness” of the Company means all Obligations with respect to Debt of the Company, whether
outstanding on the Issue Date or thereafter created, except for Debt which, in the instrument creating or evidencing the same, is expressly stated to be not senior in right of payment to the Securities; provided that Senior Debt does not
include (i) any obligation to the 

  

 8 

 
Company or any Subsidiary, (ii) trade payables or (iii) any Debt incurred in violation of the Indenture. 
  
 “Significant Subsidiary” means a Subsidiary of the Company,
including its Subsidiaries, which meets any of the following conditions: 
  
 (a) the Company’s and its other Subsidiaries’ investments in and advances to the Subsidiary exceed 20 percent of the total assets of the Company and its Subsidiaries consolidated as of the end of any two of
the three most recently completed fiscal years; or 
  
 (b) the
Company’s and its other Subsidiaries’ proportionate share of the total assets of the Subsidiary exceeds 20 percent of the total assets of the Company and its Subsidiaries consolidated as of the end of any two of the three most recently
completed fiscal years; or 
  
 (c) the Company’s and its
other Subsidiaries’ equity in the income from continuing operations before income taxes, extraordinary items and cumulative effect of a change in accounting principles of the Subsidiary exceeds 20 percent of such income of the Company and its
Subsidiaries consolidated as of the end of any two of the three most recently completed fiscal years. 
  
 “Special Record Date” means for the payment of any Defaulted Interest, the date fixed by the Trustee pursuant to Section 10.01(b).

  
 “Stated Maturity”, when used with respect to
any Security or any installment of interest thereon, means the date specified in such Security as the fixed date on which an amount equal to the principal amount of such Security or such installment of interest is due and payable. 
  
 “Subsidiary” means (i) a corporation, a majority of whose
Capital Stock with voting power, under ordinary circumstances, to elect directors is, at the date of determination, directly or indirectly owned by the Company, by one or more Subsidiaries of the Company or by the Company and one or more
Subsidiaries of the Company, (ii) a partnership in which the Company or a Subsidiary of the Company holds a majority interest in the equity capital or profits of such partnership, or (iii) any other person (other than a corporation) in which the
Company, a Subsidiary of the Company or the Company and one or more Subsidiaries of the Company, directly or indirectly, at the date of determination, has (x) at least a majority ownership interest or (y) the power to elect or direct the election of
a majority of the directors or other governing body of such person. 
  
 “TIA” means the Trust Indenture Act of 1939 as in effect on the date of this Indenture, provided, however, that in the event the TIA is amended after such date, TIA means, to the extent required by any such amendment, the
TIA as so amended. 
  

 9 

 “Trading Day” means a day during which trading in securities generally occurs on the New
York Stock Exchange or, if the Class A Common Stock is not listed on the New York Stock Exchange, on the principal other national or regional securities exchange on which the Class A Common Stock is then listed or, if the Class A Common Stock is not
listed on a national or regional securities exchange, on the National Association of Securities Dealers Automated Quotation System or, if the Class A Common Stock is not quoted on the National Association of Securities Dealers Automated Quotation
System, on the principal other market on which the Class A Common Stock is then traded. 
  
 “Trustee” means the party named as the “Trustee” in the first paragraph of this Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture and,
thereafter, shall mean such successor. The foregoing sentence shall likewise apply to any subsequent such successor or successors. 
  
 SECTION 1.02. Other Definitions. 
  

	 Term

	  	Defined in
Section

	 “Act”
	  	1.05(a)
	 “Agent Members”
	  	2.12(e)
	 “Average Quoted Price”
	  	11.01
	 “Average Sale Price”
	  	11.02
	 “Bankruptcy Law”
	  	6.01
	 “Blockage Notice”
	  	12.03(b)(1)
	 “cash”
	  	3.10(a)
	 “Company Notice”
	  	3.10(d)
	 “Company Notice Date”
	  	3.10(b)
	 “Conversion Agent”
	  	2.03
	 “Conversion Election Notice”
	  	11.02
	 “Conversion Date”
	  	11.02
	 “Conversion Rate”
	  	11.01
	 “Custodian”
	  	6.01
	 “Defaulted Interest”
	  	10.01(c)
	 “Depositary
	  	2.01(a)
	 “DTC”
	  	2.01(a)
	 “Event of Default”
	  	6.01
	 “Exchange Act”
	  	3.10(c)
	 “Ex-Dividend Time”
	  	11.01
	 “Extraordinary Cash Dividend”
	  	11.08
	 “Institutional Accredited Investors”
	  	2.01(b)
	 “Legal Holiday”
	  	13.08
	 “Legend”
	  	2.06(f)
	 “Market Price”
	  	3.10(c)
	 “Notice of Default”
	  	6.01

  

 10 

	 “pay the Securities”
	  	12.03(a)
	 “Paying Agent”
	  	2.03
	 “Payment Blockage Period”
	  	12.03(b)
	 “payment in full”
	  	12.02(1)
	 “Purchase Date”
	  	3.09(a)
	 “Purchase Notice”
	  	3.09(a)(i)
	 “Purchase Price”
	  	3.09(a)
	 “QIB”
	  	2.01(a)
	 “Registrar”
	  	2.03
	 “Rights”
	  	11.19
	 “Rights Agreement”
	  	11.19
	 “Rule 144A Information”
	  	4.06
	 “Sale Price”
	  	3.10(c)
	 “Securities Act”
	  	3.10(c)
	 “Time of Determination”
	  	11.01

  
 SECTION
1.03. Incorporation by Reference of Trust Indenture Act. Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture
have the following meanings: 
  
 “Commission” means the
SEC. 
  
 “indenture securities” means the Securities.

  
 “indenture security holder” means a Securityholder.

  
 “indenture to be qualified” means this Indenture.

  
 “indenture trustee” or “institutional
trustee” means the Trustee. 
  
 “obligor” on the
indenture securities means the Company. 
  
 All other TIA terms
used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule have the meanings assigned to them by such definitions. 
  
 SECTION 1.04. 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 generally accepted accounting principles as in effect from time to time; 
  

 11 

 (c) “or” is not exclusive; 
  
 (d) “including” means including, without limitation; and 
  
 (e) words in the singular include the plural, and words in the plural include
the singular. 
  
 SECTION 1.05. Acts of
Holders. (a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar
tenor signed by such Holders in person or by their agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it
is hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of Holders signing such instrument or instruments. Proof of
execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. 
  
 (b) The fact and date of the execution by any Person of any such instrument
or writing may be proved by the affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing
acknowledged to such officer the execution thereof. Where such execution is by a signer acting in a capacity other than such signer’s individual capacity, such certificate or affidavit shall also constitute sufficient proof of such
signer’s authority. The fact and date of the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 
  
 (c) The ownership of Securities shall be proved by the register for the
Securities or by a certificate of the Registrar. 
  
 (d) Any
request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every future Holder of the same Security and the holder of every Security issued upon the registration of transfer thereof or in
exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 
  
 (e) If the Company shall solicit from the Holders any request, demand,
authorization, direction, notice, consent, waiver or other Act, the Company may, at its option, by or pursuant to a resolution of the Board of Directors, fix in 

  

 12 

 
advance a record date for the determination of Holders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other Act,
but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act may be given before or after such record date, but only the Holders of record at
the close of business on such record date shall be deemed to be Holders for purposes of determining whether Holders of the requisite proportion of outstanding Securities have authorized or agreed or consented to such request, demand, authorization,
direction, notice, consent, waiver or other Act, and for that purpose the outstanding Securities shall be computed as of such record date; provided that no such authorization, agreement or consent by the Holders on such record date shall be deemed
effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after the record date. 
  
 ARTICLE 2 
  
 THE SECURITIES 
  
 SECTION 2.01. Form and Dating. The Securities and the Trustee’s certificate of authentication shall be substantially in the
form of Exhibit A-1, which is a part of this Indenture. The Securities may have notations, legends or endorsements required by law, stock exchange rule or usage (provided that any such notation, legend or endorsement required by usage is in a form
acceptable to the Company). 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. 
  
 (a) 144A Global Securities. The Securities will be offered and sold within the United States to qualified
institutional investors as defined in Rule 144A (“QIBs”) in reliance on Rule 144A and shall be issued, initially in the form of a 144A Global Security, which shall be deposited with the Trustee at its Corporate Trust Office, as
custodian for the Depositary and registered in the name of The Depository Trust Company (“DTC”) or the nominee thereof (such depositary, or any successor thereto, and any such nominee being hereinafter referred to as the
“Depositary”), duly executed by the Company and authenticated by the Trustee as hereinafter provided. The aggregate principal amount of the 144A Global Securities may from time to time be increased or decreased by adjustments made
on the records of the Trustee and the Depositary 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, redemptions and conversions. 
  

 13 

 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 and shall be made on the records of the Trustee and the Depositary. 

 
 (b) Book-Entry Provisions. 
  
 The Company shall execute and the Trustee shall, in accordance with this
Section 2.01(b), authenticate and deliver initially one or more Global Securities that (a) shall be registered in the name of the Depositary, (b) shall be delivered by the Trustee to the Depositary or pursuant to the Depositary’s
instructions and (c) shall bear legends substantially to the following effect: 
  
 “UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE ISSUER 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. 
  
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE,
BUT NOT IN PART, TO NOMINEES OF THE DEPOSITORY TRUST COMPANY OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET
FORTH IN ARTICLE TWO OF THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.” 
  
 SECTION 2.02. Execution and Authentication. The Securities shall be executed on behalf of the Company by any Officer, under its corporate seal reproduced thereon. The signature of the Officer on
the Securities may be manual or facsimile. 
  
  

 14 

 Securities bearing the manual or facsimile signatures of individuals who were at the time of the
execution of the Securities the proper Officers of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold
such offices at the date of authentication of such Securities. 
  
 No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Security a certificate of authentication substantially in the form provided for herein duly executed by
the Trustee by manual signature of an authorized officer, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder. 
  
 The Trustee shall authenticate and deliver Securities for original issue in
an aggregate principal amount of up to $500,000,000 (up to $575,000,000 if the initial purchasers’ option is exercised in full) upon a Company Order without any further action by the Company. The aggregate principal amount of Securities
outstanding at any time may not exceed the amount set forth in the foregoing sentence, except as provided in Section 2.07. 
  
 The Securities shall be issued 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 an office or agency where Securities may be presented for registration of transfer or for exchange (“Registrar”), an office or agency where Securities may be presented for
purchase or payment (“Paying Agent”) and an office or agency where Securities may be presented for conversion (“Conversion Agent”). The Registrar shall keep a register of the Securities and of their transfer and
exchange. The Company may have one or more co-registrars, one or more additional paying agents and one or more additional conversion agents. The term Paying Agent includes any additional paying agent, including any named pursuant to Section
4.05. The term Conversion Agent includes any additional conversion agent, including any named pursuant to Section 4.05. 
  
 The Company shall enter into an appropriate agency agreement with any Registrar, Paying Agent, Conversion Agent or co-registrar (other than the Trustee).
The agreement shall implement the provisions of this Indenture that relate to such agent. The Company shall notify the Trustee of the name and address of any such agent. If the Company fails to maintain a Registrar, Paying Agent or Conversion Agent,
the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to this Section 2.03 and Section 7.06. The Company or any Subsidiary or an Affiliate of either of them may act as Paying Agent, Registrar,
Conversion Agent or co-registrar. 
  
  

 15 

 The Company initially appoints the Trustee as Registrar, Conversion Agent and Paying Agent in connection
with the Securities. 
  
 SECTION 2.04. Paying
Agent to Hold Money and Securities in Trust . Except as otherwise provided herein, on or prior to each due date of payments in respect of any Security, the Company shall deposit with the Paying Agent a sum of money (in immediately available
funds if deposited on the due date) or Class A Common Stock sufficient to make such payments when so becoming due. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that the Paying Agent shall hold in trust for
the benefit of Securityholders or the Trustee all money and Class A Common Stock held by the Paying Agent for the making of payments in respect of the Securities and shall notify the Trustee of any default by the Company in making any such payment.
At any time during the continuance of any such default, the Paying Agent shall, upon the written request of the Trustee, forthwith pay to the Trustee all money and Class A Common Stock so held in trust. If the Company, a Subsidiary or an Affiliate
of either of them acts as Paying Agent, it shall segregate the money and Class A Common Stock held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money and Class A
Common-Stock held by it to the Trustee and to account for any funds and Class A Common Stock disbursed by it. Upon doing so, the Paying Agent shall have no further liability for the money or Class A Common Stock. 
  
 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. If the Trustee is not the Registrar, the Company shall cause to be furnished to the Trustee at least
semiannually on January 15 and July 15 a listing of Securityholders dated within 15 days of the date on which the list is furnished 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. 
  
 SECTION 2.06. Transfer and Exchange. Subject to Section 2.12 hereof, (a) upon surrender for registration of transfer of any Security, together with a written instrument of transfer satisfactory to the Registrar
duly executed by the Securityholder or such Securityholder’s attorney duly authorized in writing, at the office or agency of the Company designated as Registrar or co-registrar pursuant to Section 2.03, the Company shall execute, and the
Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of any authorized denomination or denominations, of a like aggregate principal amount. The Company shall not charge a service
charge for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to pay all taxes, assessments or other governmental charges that may be imposed in connection with the transfer or exchange of the
Securities from the Securityholder requesting such transfer or exchange. 
  
  

 16 

 At the option of the Holder, Securities may be exchanged for other Securities of any authorized
denomination or denominations, of a like aggregate principal amount, upon surrender of the Securities to be exchanged, together with a written instrument of transfer satisfactory to the Registrar duly executed by the Securityholder or such
Securityholder’s attorney duly authorized in writing, at such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder
making the exchange is entitled to receive. 
  
 The Company shall
not be required to make, and the Registrar need not register, transfers or exchanges of Securities selected for redemption (except, in the case of Securities to be redeemed in part, the portion thereof not to be redeemed) or any Securities in
respect of which a Purchase Notice or Fundamental Change Purchase Notice has been given and not withdrawn by the Holder thereof in accordance with the terms of this Indenture (except, in the case of Securities to be purchased in part, the portion
thereof not to be purchased) or any Securities for a period of 15 days before the mailing of a notice of redemption of Securities to be redeemed. 
  
 (b) Notwithstanding any provision to the contrary herein, so long as a Global Security remains outstanding and is held by or on behalf of the Depositary,
transfers of a Global Security, in whole or in part, shall be made only in accordance with Section 2.12 and this Section 2.06(b). Transfers of a Global Security shall be limited to transfers of such Global Security in whole, or in
part, to nominees of the Depositary or to a successor of the Depositary or such successor’s nominee. 
  
 (c) Successive registrations and registrations of transfers and exchanges as aforesaid may be made from time to time as desired, and each such
registration shall be noted on the register for the Securities. 
  
 (d) 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. 
  
 (e) No Registrar shall be required to make
registrations of transfer or exchange of Securities during any periods designated in the text of the Securities or in this Indenture as periods during which such registration of transfers and exchanges need not be made. 
  
 (f) If, prior to the expiration of the holding period pursuant to Rule 144(k)
under the Securities Act, (i) Securities are issued upon the transfer, exchange or replacement of Securities subject to restrictions on transfer and bearing the legends set forth on the form of Security attached hereto as Exhibit A-1 and setting
forth such restrictions (collectively, the “Legend”), or (ii) a request is made to remove the Legend on a Security, the Securities so issued shall bear the 

  

 17 

 
Legend, or the Legend shall not be removed, as the case may be, unless there is delivered to the Company and the Registrar such satisfactory evidence, which
shall include an opinion of counsel, as may be reasonably required by the Company and the Registrar, that neither the Legend nor the restrictions on transfer set forth therein are required to ensure that transfers thereof comply with the provisions
of Rule 144A or Rule 144 under the Securities Act or that such Securities are not “restricted” within the meaning of Rule 144 under the Securities Act. Upon (i) provision of such satisfactory evidence, or (ii) notification by the Company
to the Trustee and Registrar of the sale of such Security pursuant to a registration statement that is effective at the time of such sale, the Trustee, at the written direction of the Company, shall authenticate and deliver a Security that does not
bear the Legend. If the Legend is removed from the face of a Security and the Security is subsequently held by an Affiliate of the Company, the Legend shall be reinstated. 
  
 SECTION 2.07. Replacement Securities. If (a) any mutilated Security is surrendered to the Trustee, or
(b) the Company and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of any Security, and there is delivered to the Company and the Trustee such security or indemnity as may be required by them to save each of
them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute and upon 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 hereof, 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, the Company
may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
  
 Every new Security issued pursuant to this Section in lieu of any mutilated,
destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and 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 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or
payment of mutilated, destroyed, lost or stolen Securities. 
  
  

 18 

 SECTION 2.08. Outstanding Securities; Determinations of Holders’ Action.
Securities outstanding at any time are all the Securities authenticated by the Trustee except for those cancelled by it or delivered to it for cancellation, those replaced pursuant to Section 2.07 and those described in this Section
2.08 as not outstanding. A Security does not cease to be outstanding because the Company or an Affiliate thereof holds the Security; provided, however, that in determining whether the Holders of the requisite principal amount of Securities
have given or concurred in any request, demand, authorization, direction, notice, consent or waiver hereunder, Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or such other obligor shall be
disregarded and deemed not to be outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Securities which a Responsible
Officer of the Trustee knows to be so owned shall be so disregarded. Subject to the foregoing, only Securities outstanding at the time of such determination shall be considered in any such determination (including, without limitation, determinations
pursuant to Articles 6 and 9). 
  
 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 the Paying Agent holds, in accordance with this Indenture, on a Redemption Date, or on the Business Day following a
Purchase Date or a Fundamental Change Purchase Date, or on Stated Maturity, money or securities, if permitted hereunder, sufficient to pay Securities payable on that date, then immediately after such Redemption Date, Purchase Date, Fundamental
Change Purchase Date or Stated Maturity, as the case may be, such Securities shall cease to be outstanding and interest on such Securities shall cease to accrue; provided that, if such Securities are to be redeemed, notice of such redemption has
been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made. 
  
 If a Security is converted in accordance with Article 11, then from and after the time of conversion on the Conversion Date, such Security shall
cease to be outstanding and interest shall cease to accrue on such Security. 
  
 SECTION 2.09. Temporary Securities. Pending the preparation of definitive Securities, the Company may execute, and upon Company Order the Trustee shall authenticate and deliver, temporary
Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued and with such appropriate
insertions, omissions, substitutions and other variations as the officers executing such Securities may determine, as conclusively evidenced by their execution of such Securities. 
  
  

 19 

 If temporary Securities are issued, the Company will cause definitive Securities to be prepared without
unreasonable delay. After the preparation of definitive Securities, the temporary Securities shall be exchangeable for definitive Securities upon surrender of the temporary Securities at the office or agency of the Company designated for such
purpose pursuant to Section 2.03, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like
principal amount of definitive Securities of authorized denominations. Until so exchanged the temporary Securities shall in all respects be entitled to the same benefits under this Indenture as definitive Securities. 
  
 SECTION 2.10. Cancellation. All Securities surrendered
for payment, purchase by the Company pursuant to Article 3, conversion, redemption or registration of transfer or exchange shall, if surrendered to any person other than the Trustee, be delivered to the Trustee and shall be promptly cancelled
by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and all Securities so delivered shall be
promptly cancelled by the Trustee. The Company may not issue new Securities to replace Securities it has paid or delivered to the Trustee for cancellation or that any Holder has converted pursuant to Article 11. No Securities shall be
authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Securities held by the Trustee shall be destroyed by the Trustee and the Trustee shall
deliver a certificate of destruction to the Company. 
  
 SECTION 2.11. Persons Deemed Owners. Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such
Security is registered as the owner of such Security for the purpose of receiving payment of principal of the Security or the payment of any Redemption Price, Purchase Price or Fundamental Change Purchase Price in respect thereof, and interest
thereon, for the purpose of conversion and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary.

  
 SECTION 2.12. Global Securities. (a)
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 Section 2.06 and Section 2.12(a)(i) below. 
  
 (i) Transfer of Global Security. 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 this clause (i) shall not prohibit any
transfer of a Security that is issued in exchange for a Global Security but is 

  

 20 

 
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. Nothing in this Section 2.12(a)(i) shall prohibit or render ineffective any transfer of a beneficial interest in a Global Security effected in accordance with the other provisions of
this Section 2.12(a). 
  
 (b) Subject to the succeeding
paragraph, every Security shall be subject to the restrictions on transfer provided in the Legend including the delivery of an opinion of counsel, if so provided. Whenever any Restricted Security is presented or surrendered for registration of
transfer or for exchange for a Security registered in a name other than that of the Holder, such Security must be accompanied by a certificate in substantially the form set forth in Exhibit B-1, dated the date of such surrender and signed by the
Holder of such Security, as to compliance with such restrictions on transfer. The Registrar shall not be required to accept for such registration of transfer or exchange any Security not so accompanied by a properly completed certificate.

  
 (c) The restrictions imposed by the Legend upon the
transferability of any Security shall cease and terminate when such Security has been sold pursuant to an effective registration statement under the Securities Act or transferred in compliance with Rule 144 under the Securities Act (or any successor
provision thereto) or, if earlier, upon the expiration of the holding period applicable to sales thereof under Rule 144(k) under the Securities Act (or any successor provision). Any Security as to which such restrictions on transfer shall have
expired in accordance with their terms or shall have terminated may, upon a surrender of such Security for exchange to the Registrar in accordance with the provisions of this Section 2.12 (accompanied, in the event that such restrictions on
transfer have terminated by reason of a transfer in compliance with Rule 144 or any successor provision, by an opinion of counsel having substantial experience in practice under the Securities Act and otherwise reasonably acceptable to the Company,
addressed to the Company and in form acceptable to the Company, to the effect that the transfer of such Security has been made in compliance with Rule 144 or such successor provision), be exchanged for a new Security, of like tenor and aggregate
principal amount, which shall not bear the restrictive Legend. The Company shall inform the Trustee of the effective date of any registration statement registering the Securities under the Securities Act. The Trustee shall not be liable for any
action taken or omitted to be taken by it in good faith in accordance with the aforementioned opinion of counsel or registration statement. 
  
 (d) As used in the preceding two paragraphs of this Section 2.12, the term “transfer” encompasses any sale, pledge, transfer,
hypothecation or other disposition of any Security. 
  
 (e) The
provisions below shall apply to the Global Securities: 
  

 21 

 (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 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 or (B) an Event of Default has occurred and is continuing with respect to the Securities. Any Global Security exchanged
pursuant to clause (A) above shall be so exchanged in whole and not in part, and any Global Security exchanged pursuant to clause (B) 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 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 the applicable legends 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. 
  

(iii) Subject to the provisions of clause 2.12(e)(v) below, the registered Holder may grant proxies and otherwise authorize any
Person, including Agent Members (as defined below) 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 

  

 22 

 
a reasonable supply of certificated securities in definitive, fully registered form, without interest coupons. 
  
 (v) Neither any members of, or participants in, the
Depositary (collectively, the “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 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. 
  
 SECTION 2.13. CUSIP Numbers. The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption 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 a redemption and that reliance may be placed
only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee of any change in the CUSIP numbers.

  
 ARTICLE 3 
  
 REDEMPTION AND PURCHASES

  
 SECTION 3.01. Right to Redeem; Notices to
Trustee. The Company, at its option, may redeem the Securities in accordance with the provisions of paragraphs 5 and 8 of the Securities. If the Company elects to redeem Securities pursuant to paragraph 5 of the Securities, it shall notify the
Trustee in writing of the Redemption Date, the principal amount of Securities to be redeemed and the Redemption Price. 
  
 The Company shall give the notice to the Trustee provided for in this Section 3.01 by a Company Order, at least 60 days before the Redemption Date
(unless a shorter notice shall be satisfactory to the Trustee). 
  

 23 

 SECTION 3.02. Selection of Securities to Be Redeemed. If less than all the
Securities are to be redeemed, the Trustee shall select the Securities to be redeemed pro rata or by lot or by any other method the Trustee considers fair and appropriate (so long as such method is not prohibited by the rules of any stock exchange
on which the Securities are then listed). The Trustee shall make the selection at least 30 days but not more than 60 days before the Redemption Date from outstanding Securities not previously called for redemption. The Trustee may select for
redemption portions of the principal amount of Securities that have denominations larger than $1,000. 
  
 Securities and portions of them the Trustee selects shall be in principal amounts of $1,000 or an integral multiple of $1,000. Provisions of this
Indenture that apply to Securities called for redemption also apply to portions of Securities called for redemption. The Trustee shall notify the Company promptly of the Securities or portions of Securities to be redeemed. 
  
 If any Security selected for partial redemption is converted in part before
termination of the conversion right with respect to the portion of the Security so selected, the converted portion of such Security shall be deemed (so far as may be) to be the portion selected for redemption. Securities which have been converted
during a selection of Securities to be redeemed may be treated by the Trustee as outstanding for the purpose of such selection. 
  
 SECTION 3.03. Notice of Redemption. At least 30 days but not more than 60 days before a Redemption Date, the Company shall mail a
notice of redemption by first-class mail, postage prepaid, to each Holder of Securities to be redeemed. 
  
 The notice shall identify the Securities to be redeemed and shall state: 
  
 (a) the Redemption Date; 
  
 (b) the Redemption Price; 
  
 (c) the Conversion Rate; 
  
 (d) the name and address of the Paying Agent and Conversion Agent; 
  
 (e) that Securities called for redemption may be converted at any time before the close of business on the Business Day
prior to the Redemption Date; 
  
 (f) whether the Company will
deliver cash, Class A Common Stock or a combination thereof in the event a Holder converts Securities called for redemption; 
  
 (g) that Holders who want to convert Securities must satisfy the requirements set forth in paragraph 9 of the Securities; 
  

 24 

 (h) that Securities called for redemption must be surrendered to the Paying Agent to collect the
Redemption Price; 
  
 (i) if fewer than all the outstanding
Securities are to be redeemed, the certificate number and principal amounts of the particular Securities to be redeemed; 
  
 (j) that, unless the Company defaults in making payment of such Redemption Price, interest on Securities called for redemption will cease to accrue on and
after the Redemption Date; and 
  
 (k) the CUSIP number of the
Securities. 
  
 At the Company’s request, the Trustee shall
give the notice of redemption in the Company’s name and at the Company’s expense, provided that the Company makes such request at least three Business Days prior to such notice of redemption. 
  
 SECTION 3.04. Effect of Notice of Redemption. Once
notice of redemption is given, Securities called for redemption become due and payable on the Redemption Date and at the Redemption Price stated in the notice, except for Securities which are converted in accordance with the terms of this Indenture.
Upon surrender to the Paying Agent, such Securities shall be paid at the Redemption Price stated in the notice. 
  
 SECTION 3.05. Deposit of Redemption Price. Prior to 10:00 a.m. (New York City time) on the Redemption Date, the Company shall
deposit with the Paying Agent (or if the Company or a Subsidiary or an Affiliate of either of them is the Paying Agent, shall segregate and hold in trust) money sufficient to pay the Redemption Price of all Securities to be redeemed on that date
other than Securities or portions of Securities called for redemption which on or prior thereto have been delivered by the Company to the Trustee for cancellation or have been converted. The Paying Agent shall as promptly as practicable return to
the Company any money, with interest, if any, thereon, not required for that purpose because of conversion of Securities pursuant to Article 11. If such money is then held by the Company in trust and is not required for such purpose, it shall
be discharged from such trust. 
  
 SECTION 3.06.
Securities Redeemed in Part. Upon surrender of a Security that is redeemed in part, the Company shall execute and the Trustee shall authenticate and deliver to the Holder a new Security in an authorized denomination equal in principal amount
to the unredeemed portion of the Security surrendered. 
  
 SECTION 3.07. Conversion Arrangement on Call for Redemption. In connection with any redemption of Securities, the Company may arrange for the 

  

 25 

 
purchase and conversion of any Securities called for redemption by an agreement with one or more investment banks or other purchasers to purchase such
Securities by paying to the Trustee in trust for the Securityholders, on or prior to 10:00 a.m. New York City time on the Redemption Date, an amount that, together with any amounts deposited with the Trustee by the Company for the redemption of such
Securities, is not less than the Redemption Price of such Securities. Notwithstanding anything to the contrary contained in this Article 3, the obligation of the Company to pay the Redemption Price of such Securities shall be deemed to be
satisfied and discharged to the extent such amount is so paid by such purchasers. If such an agreement is entered into, any Securities not duly surrendered for conversion by the Holders thereof may, at the option of the Company, be deemed, to the
fullest extent permitted by law, acquired by such purchasers from such Holders and (notwithstanding anything to the contrary contained in Article 11) surrendered by such purchasers for conversion, all as of immediately prior to the close of
business on the Redemption Date, subject to payment of the above amount as aforesaid. The Trustee shall hold and pay to the Holders whose Securities are selected for redemption any such amount paid to it for purchase and conversion in the same
manner as it would moneys deposited with it by the Company for the redemption of Securities. Without the Trustee’s prior written consent, no arrangement between the Company and such purchasers for the purchase and conversion of any Securities
shall increase or otherwise affect any of the powers, duties, responsibilities or obligations of the Trustee as set forth in this Indenture, and the Company agrees to indemnify the Trustee from, and hold it harmless against, any loss, liability or
expense (other than arising from gross negligence, bad faith or willful misconduct of the Trustee) arising out of or in connection with any such arrangement for the purchase and conversion of any Securities between the Company and such purchasers,
including the costs and expenses incurred by the Trustee in the defense of any claim or liability arising out of or in connection with the exercise or performance of any of its powers, duties, responsibilities or obligations under this Indenture.

  
 SECTION 3.08. Purchase of Securities at
Option of the Holder upon Fundamental Change. (a) If prior to August 1, 2008 there shall have occurred a Fundamental Change, all or a portion of the Securities of any Holder shall be purchased by the Company, at the option of such Holder, at a
purchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, including contingent interest and Liquidated Damages, if any, to (but excluding) the date of purchase (the “Fundamental Change Purchase
Price”), as of the date specified by the Company in its notice pursuant to Section 3.08(b), but in any event not later than 35 days after the giving by the Company of notice of the occurrence of a Fundamental Change pursuant to Section
3.09(b) (the “Fundamental Change Purchase Date”), subject to satisfaction by or on behalf of the Holder of the requirements set forth in Section 3.08(c). If on or after August 1, 2008 there occurs a Fundamental Change, no
Holder shall have any right or option to require the Company to purchase the Securities of such Holder on account thereof except as permitted by Section 3.09. 
  

 26 

 (b) On or before the 20th day after the occurrence of a Fundamental Change, the Company shall mail a
written notice of Fundamental Change by first-class mail to the Trustee and to each Holder (and to beneficial owners as required by applicable law). In addition, the Company shall cause a copy of such notice of Fundamental Change to be published in
The Wall Street Journal or another daily newspaper of national circulation. The notice shall include a form of Fundamental Change Purchase Notice to be completed by the Securityholder and shall state: 
  
 (i) briefly, the events causing a Fundamental Change and the
date of such Fundamental Change; 
  
 (ii) the
date by which the Fundamental Change Purchase Notice pursuant to this Section 3.08 must be given; 
  
 (iii) the Fundamental Change Purchase Date; 
  
 (iv) that the Fundamental Change Purchase Price for any Security as to which a Fundamental Change Purchase Notice has been duly given and
not withdrawn will be paid promptly following the later of the Fundamental Change Purchase Date and the time of surrender of such Security; 
  
 (v) the information required to be included in a Company Notice as specified in Section 3.10(d). 
  
 (c) A Holder may exercise its rights specified in Section 3.08(a)
hereof upon delivery of the Securities to be purchased, duly endorsed for transfer, and a duly completed Fundamental Change Purchase Notice to the Paying Agent, on or before the 35th day after the date of the Fundamental Change Purchase Notice: 
  
 (i) if certificated Securities have been issued, the certificate number of the Security which the Holder will deliver to be purchased;

  
 (ii) the portion of the principal amount of
the Security which the Holder will deliver to be purchased, which portion must be $1,000 or an integral multiple thereof; and 
  
 (iii) that such Security shall be purchased pursuant to the terms and conditions specified in paragraph 7 of the Securities and Section
3.08 of the Indenture. 
  
 (iv) in the event the
Company elects, pursuant to Section 3.10(a), to pay the Fundamental Change Purchase Price, in whole or in part, in shares of Class A Common Stock but such portion of the Fundamental Change Purchase Price shall ultimately be payable to such
Holder entirely in cash because any of the conditions to payment of the Fundamental 

  

 27 

 
Change Purchase Price in Class A Common Stock is not satisfied prior to the close of business on the relevant Fundamental Change Purchase Date, as set forth
in Section 3.10(c), whether such Holder elects (i) to withdraw such Fundamental Change Purchase Notice as to some or all of the Securities to which such Fundamental Change Purchase Notice relates (stating the principal amount and certificate
numbers of the Securities as to which such withdrawal shall relate), or (ii) to receive cash in respect of the entire Fundamental Change Purchase Price for all Securities (or portions thereof) to which such Fundamental Change Purchase Notice
relates. 
  
 If a Holder, in such Holder’s Fundamental Change
Purchase Notice and in any written notice of withdrawal delivered by such Holder pursuant to the terms of Section 3.11, fails to indicate such Holder’s choice with respect to the election set forth in clause (iv) immediately above, such
Holder shall be deemed to have elected to receive cash in respect of the Fundamental Change Purchase Price for all Securities subject to such Fundamental Change Purchase Notice in the circumstances set forth in such clause (iv). 
  
 The delivery of such Security to the Paying Agent prior to, on or after the
Fundamental Change Purchase Date (together with all necessary endorsements) at the offices of the Paying Agent shall be a condition to the receipt by the Holder of the Fundamental Change Purchase Price therefor; provided, however, that such
Fundamental Change Purchase Price shall be so paid pursuant to this Section 3.08 only if the Security so delivered to the Paying Agent shall conform in all respects to the description thereof set forth in the related Fundamental Change
Purchase Notice. 
  
 The Company shall purchase from the Holder
thereof, pursuant to this Section 3.08, a portion of a Security if the principal amount of such portion is $1,000 or an integral multiple of $1,000. Provisions of this Indenture that apply to the purchase of all of a Security also apply to
the purchase of such portion of such Security. 
  
 Any purchase by
the Company contemplated pursuant to the provisions of this Section 3.08 shall be consummated by the delivery of the consideration to be received by the Holder promptly following the later of the Fundamental Change Purchase Date and the time
of delivery of the Security to the Paying Agent in accordance with this Section 3.08. 
  
 Notwithstanding anything herein to the contrary, any Holder delivering to the Paying Agent the Fundamental Change Purchase Notice contemplated by this Section 3.08(c) shall have the right to withdraw such
Fundamental Change Purchase Notice at any time prior to the close of business on the Business Day prior to the Fundamental Change Purchase Date by delivery of a written notice of withdrawal to the Paying Agent in accordance with Section 3.11.

  

 28 

 The Paying Agent shall promptly notify the Company of the receipt by it of any Fundamental Change
Purchase Notice or written withdrawal thereof. 
  
 SECTION 3.09. Purchase of Securities at Option of the Holder. (a) General. Securities shall be purchased by the Company pursuant to paragraph 6 of the Securities as of August 1, 2006, August 1, 2008, August 1,
2013 and August 1, 2018 (each, a “Purchase Date”), at the purchase price equal to 100% of the principal amount of the Securities to be purchased plus accrued and unpaid interest, including contingent interest, if any, and Liquidated
Damages, if any, to (but excluding) the Purchase Date (the “Purchase Price”) at the option of the Holder thereof, unless prior to the date 20 Business Days prior to the Purchase Date the Company shall have delivered pursuant to
Section 3.03 a notice of redemption with respect to such Securities, upon: 
  
 (i) delivery to the Paying Agent, by the Holder of a written notice of purchase (a “Purchase Notice”), at any time from the opening of business on the Company Notice Date until the close of business
on the Business Day prior to such Purchase Date stating: 
  
 (A) if certificated Securities have been issued, the certificate number of the Security which the Holder will deliver to be purchased, 
  
 (B) the portion of the principal amount of the Security which the Holder will deliver to be purchased, which
portion must be $1,000 or an integral multiple thereof, 
  
 (C) that such Security shall be purchased as of the Purchase Date pursuant to the terms and conditions specified in this Section 3.09 and in paragraph 6 of the Securities and in this Indenture, and 
  
 (D) for purchases on or after August 1, 2008, in the event
the Company elects, pursuant to Section 3.10(a), to pay the Purchase Price to be paid as of such Purchase Date, in whole or in part, in shares of Class A Common Stock but such portion of the Purchase Price shall ultimately be payable to such
Holder entirely in cash because any of the conditions to payment of the Purchase Price in Class A Common Stock is not satisfied prior to the close of business on such Purchase Date, as set forth in Section 3.10(c), whether such Holder elects
(i) to withdraw such Purchase Notice as to some or all of the Securities to which such Purchase Notice relates (stating the principal amount and certificate numbers of the Securities as to which such withdrawal shall relate), or (ii) to receive cash
in respect of the entire Purchase Price for all Securities (or portions thereof) to which such Purchase Notice relates. 
  

 29 

 (ii) delivery of such Security to the Paying Agent prior to, on or after the Purchase
Date (together with all necessary endorsements) at the offices of the Paying Agent, such delivery being a condition to receipt by the Holder of the Purchase Price therefor; provided, however, that such Purchase Price shall be so paid pursuant to
this Section 3.09 only if the Security so delivered to the Paying Agent shall conform in all respects to the description thereof in the related Purchase Notice, as determined by the Company. 
  
 If a Holder, in such Holder’s Purchase Notice and in any written notice
of withdrawal delivered by such Holder pursuant to the terms of Section 3.11, fails to indicate such Holder’s choice with respect to the election set forth in clause (D) of Section 3.09(a)(i), such Holder shall be deemed to have
elected to receive cash in respect of the Purchase Price for all Securities subject to such Purchase Notice in the circumstances set forth in such clause (D). 
  

The Company shall purchase from the Holder thereof, pursuant to this Section 3.09, a portion of a Security if the principal amount of such
portion is $1,000 or an integral multiple of $1,000. Provisions of this Indenture that apply to the purchase of all of a Security also apply to the purchase of such portion of such Security. 
  
 Any purchase by the Company contemplated pursuant to the provisions of this
Section 3.09 shall be consummated by the delivery of the consideration to be received by the Holder promptly following the later of the Purchase Date and the time of delivery of the Security. 
  
 Notwithstanding anything herein to the contrary, any Holder delivering to the
Paying Agent the Purchase Notice contemplated by this Section 3.09(a) shall have the right to withdraw such Purchase Notice at any time prior to the close of business on the Business Day prior to the Purchase Date by delivery of a written
notice of withdrawal to the Paying Agent in accordance with Section 3.11, in which event the Company shall not be obligated to purchase the related Securities. 
  
 The Paying Agent shall promptly notify the Company of the receipt by it of any Purchase Notice or written notice of
withdrawal thereof. 
  
 SECTION 3.10. Payment in
Stock or Cash. (a) Company’s Right to Elect Manner of Payment of Purchase Price or Fundamental Change Purchase Price. The Securities to be purchased pursuant to Section 3.08(a) or Section 3.09(a) may be paid for, at the
election of the Company, in U.S. legal tender (“cash”) or Class A Common Stock, or in any combination of cash and Class A Common Stock, subject to the conditions set forth in Sections 3.10(b), (c) and (d). The Company shall
designate, in the Company Notice delivered pursuant to Section 3.10(d), whether the Company will purchase the Securities for cash or 

  

 30 

 
Class A Common Stock, or, if a combination thereof, the percentages of the Purchase Price or Fundamental Change Purchase Price of Securities in respect of
which it will pay in cash or Class A Common Stock; provided that the Company will pay cash for fractional interests in Class A Common Stock. For purposes of determining the existence of potential fractional interests, all Securities subject to
purchase by the Company held by a Holder shall be considered together (no matter how many separate certificates are to be presented). Each Holder whose Securities are purchased pursuant to Section 3.08(a) or Section 3.09(a) shall receive the same
percentage of cash or Class A Common Stock in payment of the Purchase Price or Fundamental Change Purchase Price for such Securities, except (i) as provided in Section 3.10(c) with regard to the payment of cash in lieu of fractional shares of
Class A Common Stock and (ii) in the event that the Company is unable to purchase the Securities of a Holder or Holders for Class A Common Stock because any necessary qualifications or registrations of the Class A Common Stock under applicable state
securities laws cannot be obtained, the Company may purchase the Securities of such Holder or Holders for cash. The Company may not change its election with respect to the consideration (or components or percentages of components thereof) to be paid
once the Company has given its Company Notice to Securityholders except pursuant to this Section 3.10(a) or pursuant to Section 3.10(c) in the event of a failure to satisfy, prior to the close of business on the Purchase Date or
Fundamental Change Purchase Date, any condition to the payment of the Purchase Price or Fundamental Change Purchase Price, in whole or in part, in Class A Common Stock. 
  
 At least three Business Days before the Company Notice Date, the Company shall deliver an Officers’ Certificate to the
Trustee specifying: 
  
 (i) the manner of payment
selected by the Company, 
  
 (ii) the information
required by Section 3.10(d), 
  
 (iii) if
the Company elects to pay the Purchase Price or Fundamental Change Purchase Price, or a specified percentage thereof, in Class A Common Stock, that the conditions to such manner of payment set forth in Section 3.10(c) have been or will be
complied with, and 
  
 (iv) whether the Company
desires the Trustee to give the Company Notice required by Section 3.10(d). 
  
 The above notwithstanding, the Purchase Price for any Securities to be purchased on August 1, 2006 pursuant to Section 3.09(a) may be paid for only in cash and not in Class A Common Stock. 
  
 (b) Purchase with Cash. On each Purchase Date or Fundamental Change
Purchase Date, at the option of the Company, the Purchase Price or Fundamental Change Purchase Price of Securities in respect of which a Purchase Notice or 

  

 31 

 
Fundamental Change Purchase Notice has been given, or a specified percentage thereof, may be paid by the Company with cash equal to the aggregate Purchase
Price or Fundamental Change Purchase Price of such Securities. If the Company elects to purchase Securities with cash, the Company Notice, as provided in Section 3.10(d), shall be sent to Holders (and to beneficial owners as required by
applicable law) not less than 20 Business Days prior to such Purchase Date in the case of a purchase pursuant to Section 3.09(a) or in conjunction with the mailing of written notice of Fundamental Change pursuant to Section 3.08(b) in the case of a
purchase pursuant to Section 3.08(a) (the “Company Notice Date”). 
  
 (c) Payment by Issuance of Class A Common Stock. On each Purchase Date on or after August 1, 2008 or on any Fundamental Change Purchase Date, at the option of the Company, the Purchase Price or Fundamental
Change Purchase Price of Securities in respect of which a Purchase Notice or Fundamental Change Purchase Notice has been given, or a specified percentage thereof, may be paid by the Company by the issuance of a number of shares of Class A Common
Stock equal to the quotient obtained by dividing (i) the amount of cash to which the Securityholders would have been entitled had the Company elected to pay all or such specified percentage, as the case may be, of the Purchase Price or Fundamental
Change Purchase Price of such Securities in cash by (ii) the Market Price of a share of Class A Common Stock, subject to the next succeeding paragraph. 
  
 The date on which the Market Price will be determined (for purposes of calculating the Purchase Price or Fundamental Change Purchase Price as the case may
be) will be selected by the Company and disclosed to Holders pursuant to Section 3.10(d). Since the Market Price of Class A Common Stock will be determined prior to the applicable Purchase Date or Fundamental Change Purchase Date, Holders will bear
the market risk with respect to the value of the Class A Common Stock to be received from the date such Market Price is determined to the Purchase Date or Fundamental Change Purchase Date. 
  
 The Company will not issue a fractional share of Class A Common Stock in
payment of the Purchase Price or Fundamental Change Purchase Price. Instead the Company will pay cash for the current market value of the fractional share. The current market value of a fraction of a share shall be determined by multiplying the
Market Price by such fraction and rounding the product to the nearest whole cent. It is understood that if a Holder elects to have more than one Security purchased, the number of shares of Class A Common Stock shall be based on the aggregate amount
of Securities to be purchased. 
  
 The Company Notice, as provided
in Section 3.10(d), shall be sent to the Holders (and to beneficial owners as required by applicable law) not later than the Company Notice Date; provided that no Company Notice need be sent with respect to any Securities for which the
Company has given a notice of redemption prior to the Company Notice Date. 
  

 32 

 The Company’s right to exercise its election to purchase the Securities pursuant to Section 3.08 or
3.09 through the issuance of shares of Class A Common Stock shall be conditioned upon: 
  
 (i) the Company’s not having given its Company Notice of an election to pay entirely in cash and its giving of timely Company Notice
of election to purchase all or a specified percentage of the Securities with Class A Common Stock as provided herein; 
  
 (ii) the registration of the shares of Class A Common Stock to be issued in respect of the payment of the Purchase Price under the
Securities Act of 1933, as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended (the “Exchange Act”), in each case, if required; 
  
 (iii) any necessary qualification or registration under
applicable state securities laws or the availability of an exemption from such qualification and registration; and 
  
 (iv) the receipt by the Trustee of an Officers’ Certificate and an Opinion of Counsel each stating that (A) the terms of the issuance
of the Class A Common Stock are in conformity with this Indenture and (B) the shares of Class A Common Stock to be issued by the Company in payment of the Purchase Price or Fundamental Change Purchase Price in respect of Securities have been duly
authorized and, when issued and delivered pursuant to the terms of this Indenture in payment of the Purchase Price or Fundamental Change Purchase Price in respect of the Securities, will be validly issued, fully paid and non-assessable and, to the
best of such counsel’s knowledge, free from preemptive rights, and, in the case of such Officers’ Certificate, stating that conditions (i), (ii) and (iii) above and the condition set forth in the second succeeding sentence have been
satisfied and, in the case of such Opinion of Counsel, stating that conditions (ii) and (iii) above has been satisfied. 
  
 Such Officers’ Certificate shall also set forth the number of shares of Class A Common Stock to be issued for each $1,000 principal amount of
Securities and the Sale Price of a share of Class A Common Stock on each Trading Day during the period commencing on the first Trading Day of the period during which the Market Price is calculated and ending on the applicable Purchase Date. The
Company may pay the Purchase Price or Fundamental Change Purchase Price (or any portion thereof) in Class A Common Stock only if the information necessary to calculate the Market Price is published in The Wall Street Journal or another daily
newspaper of national circulation. If the foregoing conditions are not satisfied with respect to a Holder or Holders prior to the close of business on the Purchase Date or Fundamental Change Purchase Date and the Company has elected to purchase the
Securities pursuant to this Section 3.10(c) through the issuance of 

  

 33 

 
shares of Class A Common Stock, the Company shall pay the entire Purchase Price or Fundamental Change Purchase Price of the Securities of such Holder or
Holders in cash. 
  
 The “Market Price” means the
average of the Sale Prices of the Class A Common Stock for the five Trading Day period ending on the third Business Day prior to the applicable Purchase Date (or if the third Business Day prior to the applicable Purchase Date is not a Trading Day,
then on the last Trading Day prior to the third Business Day prior to the applicable Purchase Date), appropriately adjusted to take into account the occurrence, during the period commencing on the first of such Trading Days during such five Trading
Day period and ending on such Purchase Date (or other date in question, for the purpose of adjusting the Conversion Rate), of any event that requires an adjustment to the Conversion Rate pursuant to Article 11. 
  
 The “Sale Price” of the Class A Common Stock on any date
means the closing per share sale price (or, if no closing sale price is reported, the average of the bid and ask prices or, if more than one in either case, the average of the average bid and average ask prices) on such date as reported in the
composite transactions for the principal United States securities exchange on which the Class A Common Stock is traded or, if the Class A Common Stock is not listed on a United States national or regional securities exchange, as reported by the
National Association of Securities Dealers Automated Quotation System. In the absence of such quotations, the Company shall be entitled to determine the Sale Price on the basis of such quotations as it considers appropriate. 
  
 (d) Notice of Election. The Company’s notice of election to
purchase with cash or Class A Common Stock or any combination thereof shall be sent to the Holders (and to beneficial owners as required by applicable law) in the manner provided in Section 13.02 at the time specified in Section
3.10(b) or (d), as applicable (the “Company Notice”). Such Company Notice shall state the manner of payment elected and shall contain the following information: 
  
 In the event the Company has elected to pay the Purchase Price or Fundamental Change Purchase Price (or a specified
percentage thereof) with Class A Common Stock, the Company Notice shall: 
  
 (i) state that each Holder will receive Class A Common Stock with a Market Price determined as of a specified date prior to the Purchase Date or Fundamental Change Purchase Date equal to such specified percentage of
the Purchase Price or Fundamental Change Purchase Price of the Securities held by such Holder (except any cash amount to be paid in lieu of fractional shares); 
  

(ii) set forth the method of calculating the Market Price of the Class A Common Stock; and 
  

 34 

 (iii) state that because the Market Price of Class A Common Stock will be determined
prior to the applicable Purchase Date or Fundamental Change Purchase Date, Holders will bear the market risk with respect to the value of the Class A Common Stock to be received from the date such Market Price is determined to the Purchase Date or
Fundamental Change Purchase Date. 
  
 In any case, each Company
Notice shall include a form of Purchase Notice or Fundamental Change Purchase Notice to be completed by a Securityholder and shall state: 
  
 (A) the Purchase Price or Fundamental Change Purchase Price and the Conversion Rate; 
  
 (B) the name and address of the Paying Agent and the
Conversion Agent; 
  
 (C) that Securities as to
which a Purchase Notice or Fundamental Change Purchase Notice has been given may be converted pursuant to Article 11 hereof only if the applicable Purchase Notice or Fundamental Change Purchase Notice has been withdrawn in accordance with the
terms of this Indenture; 
  
 (D) that Securities
must be surrendered to the Paying Agent to collect payment; 
  
 (E) that the Purchase Price or Fundamental Change Purchase Price for any security as to which a Purchase Notice has been given and not withdrawn will be paid promptly following the later of (1) the Purchase Date or
Fundamental Change Purchase Date and (2) the time of surrender of such Security as described in (D); 
  
 (F) the procedures the Holder must follow to exercise rights under Section 3.08 or Section 3.09 as applicable and a brief
description of those rights; 
  
 (G) briefly, the
conversion rights of the Securities; 
  
 (H) the
procedures for withdrawing a Purchase Notice or Fundamental Change Purchase Notice (including, without limitation, for a conditional withdrawal pursuant to the terms of Section 3.08(c)(iv), Section 3.08(c)(iv), 3.08(c)(iv),
3.09(a)(i)(D) or Section 3.11); 
  
 (I) that, unless the Company defaults in making payment of such Purchase Price or Fundamental Change Purchase Price, interest on 

  

 35 

 
Securities for which a Purchase Notice or Fundamental Change Purchase Notice has been delivered and not withdrawn will cease to accrue on and after the
relevant Purchase Date or Fundamental Change Purchase Date; and 
  
 (J) the CUSIP number of the Securities. 
  
 At the Company’s request, the Trustee shall give such Company Notice in the Company’s name and at the Company’s expense; provided, however, that, in all cases, the text of such Company Notice shall be prepared by the Company.

  
 Upon determination of the actual number of shares of Class A
Common Stock to be issued for each $1,000 principal amount of Securities, the Company will publish such determination in The Wall Street Journal or another daily newspaper of national circulation. 
  
 (e) Covenants of the Company. All shares of Class A Common Stock
delivered upon purchase of the Securities shall be newly issued shares or treasury shares, shall be duly authorized, validly issued, fully paid and nonassessable and shall be free from preemptive rights and free of any lien or adverse claim.

  
 The Company shall use its best efforts to list or cause to
have quoted any shares of Class A Common Stock to be issued to purchase Securities on each national securities exchange or over-the-counter or other domestic market on which the Class A Common Stock is then listed or quoted. 
  
 (f) Procedure upon Purchase. The Company shall deposit cash (in
respect of a cash purchase under Section 3.10(b) or for fractional interests, as applicable) or shares of Class A Common Stock, or a combination thereof, as applicable, at the time and in the manner as provided in Section 3.12,
sufficient to pay the aggregate Purchase Price or Fundamental Change Purchase Price of all Securities to be purchased pursuant to a Purchase Notice or Fundamental Change Purchase Notice. As soon as practicable after the Purchase Date or Fundamental
Change Purchase Date, the Company shall deliver to each Holder entitled to receive Class A Common Stock through the Paying Agent, a certificate for the number of full shares of Class A Common Stock issuable in payment of the Purchase Price or
Fundamental Change Purchase Price and cash in lieu of any fractional interests. The person in whose name the certificate for Class A Common Stock is registered shall be treated as a holder of record of shares of Class A Common Stock on the Business
Day following the Purchase Date or Fundamental Change Purchase Date. Subject to Section 3.10(c), no payment or adjustment will be made for dividends on the Class A Common Stock the record date for which occurred on or prior to the Purchase
Date or Fundamental Change Purchase Date. 
  
 (g) Taxes. If
a Holder of a Security is paid in Class A Common Stock, the Company shall pay any documentary, stamp or similar issue or transfer tax due 

  

 36 

 
on such issue of shares of Class A Common Stock. However, the Holder shall pay any such tax which is due because the Holder requests the shares of Class A
Common Stock to be issued in a name other than the Holder’s name. The Paying Agent may refuse to deliver the certificates representing the Class A Common Stock being issued in a name other than the Holder’s name until the Paying Agent
receives a sum sufficient to pay any tax which will be due because the shares of Class A Common Stock are to be issued in a name other than the Holder’s name. Nothing herein shall preclude any income tax withholding required by law or
regulations. 
  
 SECTION 3.11. Effect of
Purchase Notice or Fundamental Change Purchase Notice. Upon receipt by the Paying Agent of the Purchase Notice or Fundamental Change Purchase Notice, the Holder of the Security in respect of which such Purchase Notice or Fundamental Change
Purchase Notice, as the case may be, was given shall (unless such Purchase Notice or Fundamental Change Purchase Notice is withdrawn as specified in the following two paragraphs) thereafter be entitled to receive solely the Purchase Price or
Fundamental Change Purchase Price, as the case may be, with respect to such Security. Such Purchase Price or Fundamental Change Purchase Price shall be paid to such Holder, subject to receipts of funds and/or securities by the Paying Agent, promptly
following the later of (x) the Purchase Date or the Fundamental Change Purchase Date, as the case may be, with respect to such Security (provided the conditions in Section 3.08 or Section 3.09, as applicable, have been satisfied) and (y) the time of
delivery of such Security to the Paying Agent by the Holder thereof in the manner required by Section 3.08 or 3.09, as applicable. Securities in respect of which a Purchase Notice or Fundamental Change Purchase Notice, as the case may be, has been
given by the Holder thereof may not be converted pursuant to Article 11 hereof on or after the date of the delivery of such Purchase Notice or Fundamental Change Purchase Notice, as the case may be, unless such Purchase Notice or Fundamental
Change Purchase Notice, as the case may be, has first been validly withdrawn as specified in the following two paragraphs. 
  
 A Purchase Notice or Fundamental Change Purchase Notice, as the case may be, may be withdrawn by means of a written notice of withdrawal delivered to the
office of the Paying Agent in accordance with the Purchase Notice or Fundamental Change Purchase Notice, as the case may be, at any time prior to the close of business on the Business Day prior to the Purchase Date or the Fundamental Change Purchase
Date, as the case may be, specifying: 
  
 (a) if
certificated Securities have been issued, the certificate number of the Security in respect of which such notice of withdrawal is being submitted (if the Securities are not certificated, such Purchase Notice or Fundamental Change Purchase Notice, as
the case may be, shall comply with the appropriate procedures of the Depositary), 
  

 37 

 (b) the principal amount of the Security with respect to which such notice of withdrawal
is being submitted, and 
  
 (c) the principal
amount, if any, of such Security which remains subject to the original Purchase Notice or Fundamental Change Purchase Notice, as the case may be, and which has been or will be delivered for purchase by the Company. 
  
 A written notice of withdrawal of a Purchase Notice may be in the form set
forth in the preceding paragraph or may be in the form of (i) a conditional withdrawal contained in a Purchase Notice pursuant to the terms of Section 3.08(c)(iv) or Section 3.08(c)(iv), 3.08(c)(iv), 3.09(a)(i)(D) or (ii) a
conditional withdrawal containing the information set forth in Section 3.08(c)(iv) or Section 3.08(c)(iv), 3.08(c)(iv), 3.09(a)(i)(D) and the preceding paragraph and contained in a written notice of withdrawal delivered to the
Paying Agent as set forth in the preceding paragraph. 
  
 There
shall be no purchase of any Securities pursuant to Section 3.08 or Section 3.09 (other than through the issuance of Class A Common Stock in payment of the Purchase Price or Fundamental Change Purchase Price, including cash in lieu of
fractional shares) if there has occurred (prior to, on or after, as the case may be, the giving, by the Holders of such Securities, of the required Purchase Notice or Fundamental Change Purchase Notice, as the case may be) and is continuing an Event
of Default (other than a default in the payment of the Purchase Price or Fundamental Change Purchase Price, as the case may be, with respect to such Securities). The Paying Agent will promptly return to the respective Holders thereof any Securities
(x) with respect to which a Purchase Notice or Fundamental Change Purchase Notice, as the case may be, has been withdrawn in compliance with this Indenture, or (y) held by it during the continuance of an Event of Default (other than a default in the
payment of the Purchase Price or Fundamental Change Purchase Price, as the case may be, with respect to such Securities) in which case, upon such return, the Purchase Notice or Fundamental Change Purchase Notice with respect thereto shall be deemed
to have been withdrawn. 
  
 SECTION 3.12.
Deposit of Purchase Price or Fundamental Change Purchase Price. Prior to 10:00 a.m. (New York City time) on the Business Day following the Purchase Date or the Fundamental Change Purchase Date, as the case may be, the Company shall deposit
with the Trustee or with the Paying Agent (or, if the Company or a Subsidiary or an Affiliate of either of them is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 2.04) an amount of money (in immediately
available funds if deposited on such Business Day) or Class A Common Stock, if permitted hereunder, sufficient to pay the aggregate Purchase Price or Fundamental Change Purchase Price, as the case may be, of all the Securities or portions thereof
which are to be purchased as of the Purchase Date or Fundamental Change Purchase Date, as the case may be. 
  

 38 

 SECTION 3.13. Securities Purchased in Part. Any Security which is to be purchased
only in part shall be surrendered at the office of the Paying Agent (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the
Holder thereof or such Holder’s attorney duly authorized in writing) and the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Security, without service charge, a new Security or Securities, of any
authorized denomination as requested by such Holder in aggregate principal amount equal to, and in exchange for, the portion of the principal amount of the Security so surrendered which is not purchased. 
  
 SECTION 3.14. Covenant to Comply with Securities Laws upon
Purchase of Securities. In connection with any offer to purchase or purchase of Securities under Section 3.08 or 3.09 hereof (provided that such offer or purchase constitutes an “issuer tender offer” for purposes of Rule 13e-4 (which
term, as used herein, includes any successor provision thereto) under the Exchange Act at the time of such offer or purchase), the Company shall to the extent applicable and required by law, (i) comply with Rule 13e-4, Rule 14e-1 and any other
tender offer rules under the Exchange Act which may then be applicable, (ii) file the related Schedule TO (or any successor schedule, form or report) or any other schedule required under the Exchange Act, and (iii) otherwise comply with all Federal
and state securities laws so as to permit the rights and obligations under Sections 3.08 or 3.09 to be exercised in the time and in the manner specified in Sections 3.08 or 3.09. 
  
 SECTION 3.15. Repayment to the Company. The Trustee and the Paying Agent shall return to the Company
any cash or shares of Class A Common Stock that remain unclaimed as provided in paragraph 14 of the Securities, together with interest or dividends, if any, thereon, held by them for the payment of the Purchase Price or Fundamental Change Purchase
Price, as the case may be; provided, however, that to the extent that the aggregate amount of cash or shares of Class A Common Stock deposited by the Company pursuant to Section 3.12 exceeds the aggregate Purchase Price or Fundamental Change
Purchase Price, as the case may be, of the Securities or portions thereof which the Company is obligated to purchase as of the Purchase Date or Fundamental Change Purchase Date, as the case may be, then promptly after the Business Day following the
Purchase Date or Fundamental Change Purchase Date, as the case may be, the Trustee shall return any such excess to the Company together with interest or dividends, if any, thereon. 
  

 39 

 ARTICLE 4 
  
 COVENANTS 
  
 SECTION 4.01. 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 or pursuant to this Indenture. Any amounts to be given to the Trustee or Paying Agent shall be deposited with the Trustee or Paying Agent by 10:00 a.m. New York City time by the Company. Principal amount,
Redemption Price, Purchase Price, Fundamental Change Purchase Price, interest, contingent interest, if any, or Liquidated Damages, if any, shall be considered paid on the applicable date due if on such date (or, in the case of a Purchase Price or
Fundamental Change Purchase Price, on the Business Day following the applicable Purchase Date or Fundamental Change Purchase Date, as the case may be) the Trustee or the Paying Agent holds, in accordance with this Indenture, money or securities, if
permitted hereunder, sufficient to pay all such amounts then due. 
  
 The Company shall, to the extent permitted by law, pay interest on overdue amounts at the rate per annum set forth in paragraph 1 of the Securities, compounded semiannually, which interest shall accrue from the date such overdue amount was
originally due to the date payment of such amount, including interest thereon, has been made or duly provided for. All such interest shall be payable on demand. 
  

SECTION 4.02. SEC and Other Reports. The Company shall file with the Trustee, within 15 days after it files such annual and
quarterly reports, information, documents and other reports with the SEC, copies of its annual report and of the information, documents and other reports (or copies of such portions of any of the foregoing as the SEC may by rules and regulations
prescribe) which the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. In the event the Company is at any time no longer subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, it
shall continue to provide the Trustee with reports containing substantially the same information as would have been required to be filed with the SEC had the Company continued to have been subject to such reporting requirements. In such event, such
reports shall be provided at the times the Company would have been required to provide reports had it continued to have been subject to such reporting requirements. The Company also shall comply with the other provisions of TIA Section 314(a).

  
 SECTION 4.03. Compliance Certificate.
The Company shall deliver to the Trustee within 120 days after the end of each fiscal year of the Company (beginning with the fiscal year ending on September 30, 2004) an Officers’ Certificate, stating whether or not to the best knowledge of
the signers thereof the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture (without regard to any period of grace or requirement of notice provided hereunder) and if the Company
shall be in 

  

 40 

 
default, specifying all such defaults and the nature and status thereof of which they may have knowledge. 
  
 SECTION 4.04. 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 4.05. Maintenance of Office or Agency. The
Company will maintain in the Borough of Manhattan, the City of New York, an office or agency of the Trustee, Registrar, Paying Agent and Conversion Agent where Securities may be presented or surrendered for payment, where Securities may be
surrendered for registration of transfer, exchange, purchase, redemption or conversion and where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The office of Wachovia Bank, National
Association, [40 Broad Street, 5th Floor, Suite 550, New York, NY 10004], shall initially be such office or agency
for all of the aforesaid purposes. The Company shall give prompt written notice to the Trustee of the location, and of any change in the location, of any such office or agency (other than a change in the location of the office of the Trustee). If at
any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the address of the Trustee set
forth in Section 13.02. 
  
 The Company may also from time
to time designate one or more other offices or agencies where the Securities may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission
shall in any manner relieve the Company of its obligation to maintain an office or agency in the Borough of Manhattan, the City of New York, for such purposes. 
  

SECTION 4.06. Delivery of Certain Information. At any time when the Company is not subject to Section 13 or 15(d) of the Exchange
Act, upon the request of a holder or any beneficial holder of Securities or shares of Class A Common Stock issued upon conversion thereof, the Company will promptly furnish or cause to be furnished Rule 144A Information (as defined below) to such
Holder or any beneficial holder of Securities or holder of shares of Class A Common Stock issued upon conversion of Securities, or to a prospective purchaser of any such security designated by any such holder, as the case may be, to the extent
required to permit compliance by such Holder or holder with Rule 144A under the Securities Act in connection with the resale of any such security. “Rule 144A Information” shall be such information as is specified pursuant to Rule
144A(d)(4) under the Securities Act. 
  

 41 

 SECTION 4.07. Contingent Debt Tax Treatment. The Company agrees, and by acceptance
of a Security, each holder hereof is deemed to have agreed, as follows: 
  
 (i) to treat the Securities as indebtedness of the Company for all tax purposes; 
  
 (ii) to treat the Securities as indebtedness that are subject to the regulations governing contingent payment debt instruments that are
contained in U.S. Treasury Regulation section 1.1275-4; 
  
 (iii) to be bound (in the absence of an administrative determination or judicial ruling to the contrary) by the Company’s determination of the comparable yield and the projected payment schedule as set forth in
U.S. Treasury Regulations Section 1.1275-4(b)(4); 
  
 (iv) to treat any payment to and receipt by a holder of Common Stock upon conversion of a Security as a contingent payment under U.S. Treasury Regulation section 1.1275-4(b) that will result in an adjustment under U.S. Treasury Regulation
section 1.1275-4(b)(3)(iv) and U.S. Treasury Regulation section 1.1275-4(b)(6); 
  
 (v) for United States Federal Income tax purposes, the Company shall accrue interest with respect to outstanding Securities as original
issue discount according to the “noncontingent bond method,” as set forth in U.S. Treasury Regulation section 1.1275-4(b); 
  
 (vi) the Company has determined that the comparable yield, as defined in U.S. Treasury Regulation section 1.1275-4(b)(4)(i), for the
Securities is 6.60%, compounded semiannually; 
  
 (vii) the Company has determined that the projected payment schedule, as defined in U.S. Treasury Regulation section 1.1275-4(b)(ii), for the Securities consists of the projected payment schedule referred to in (v) below; 
  
 (viii) the comparable yield and the projected payment
schedule are not determined for any purpose other than for the purpose of applying U.S. Treasury Regulation section 1.1275-4(b) to the Securities; 
  
 (ix) the comparable yield and the projected payment schedule do not constitute a projection or representation regarding the actual amounts
payable on the Securities; and 
  
 (x) the issue
price, amount of original issue discount, issue date, yield to maturity, comparable yield and projected payment schedule, as 

  

 42 

 
defined in U.S. Treasury Regulation section 1.1275-4(b)(4)(ii) for the Securities, shall be supplied by the Company to any Holder upon written request to the
Company at: 5811 Pelican Bay Boulevard, Suite 500, Naples, Florida, 34108-2710, Attention: Robert E. Farnham, Senior Vice President and Chief Financial Officer. 
  
 SECTION 4.08. Calculation of Original Issue Discount. The Company shall file with the
Trustee promptly at the end of each calendar year (i) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on outstanding Securities as of the end of such year and (ii) such other
specific information relating to such original issue discount as may then be relevant under the Internal Revenue Code of 1986, as amended from time to time. 
  
 ARTICLE 5 
  
 SUCCESSOR CORPORATION 
  
 SECTION 5.01. When Company May Merge or Transfer Assets. The Company shall not consolidate with or merge with or
into any other person or convey, transfer or lease its properties and assets substantially as an entirety to any person, unless: 
  
 (a) either (1) the Company shall be the continuing corporation or (2) the person (if other than the Company) formed by such consolidation or into which
the Company is merged or the person which acquires by conveyance, transfer or lease the properties and assets of the Company substantially as an entirety (i) shall be organized and validly existing under the laws of the United States or any State
thereof or the District of Columbia and (ii) shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, all of the obligations of the Company under the Securities and this
Indenture; 
  
 (b) immediately after giving effect to such
transaction, no Default or Event of Default shall have occurred and be continuing; and 
  
 (c) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture
is required in connection with such transaction, such supplemental indenture, comply with this Article 5 and that all conditions precedent herein provided for relating to such transaction have been satisfied. 
  
 For purposes of the foregoing, the transfer (by lease,
assignment, sale or otherwise) of the properties and assets of one or more Subsidiaries (other than to the Company or another Subsidiary), which, if such assets were owned by the Company, would constitute all or substantially all of the 

  

 43 

 
properties and assets of the Company, shall be deemed to be the transfer of all or substantially all of the properties and assets of the Company. 

 
 The successor person formed by such consolidation or into
which the Company is merged or the successor person 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 had been named as the Company herein; and thereafter, except in the case of a lease and obligations the Company may have under a supplemental indenture pursuant to Section 11.16, the Company shall be discharged from all
obligations and covenants under this Indenture and the Securities. Subject to Section 9.02, the Company, the Trustee and the successor person shall enter into a supplemental indenture to evidence the succession and substitution of such
successor person and such discharge and release of the Company. 
  
 ARTICLE 6 
  
 DEFAULTS AND
REMEDIES 
  
 SECTION
6.01. Events of Default. An “Event of Default” occurs if: 
  
 (1) the Company defaults in the payment of any interest, including contingent interest, if any, and Liquidated Damages, if any, when due
and payable and such default shall continue for 30 days; 
  
 (2) the Company defaults in the payment of the principal amount, Redemption Price, Purchase Price or Fundamental Change Purchase Price on any Security when the same becomes due and payable at its Stated Maturity, upon
redemption, upon declaration, when due for purchase by the Company or otherwise; 
  
 (3) the Company fails to deliver shares of Class A Common Stock (together with cash in lieu of fractional shares), or cash in lieu
thereof, when such delivery is required upon conversion of a Security and such failure continues for 10 days; or 
  
 (4) the Company fails to comply with any of its agreements in the Securities or this Indenture (other than those referred to in clauses
(1), (2) and (3) above) and such failure continues for 60 days after receipt by the Company of a Notice of Default; 
  
 (5) there shall occur an event of default within the meaning of another mortgage, indenture or debt, instrument under which there may be

  

 44 

 
issued any Indebtedness, other than the Securities, in an amount in excess of $25,000,000 and which results in the Indebtedness becoming or being declared
due and payable prior to the date on which it would otherwise become due and payable, and the Company has not cured the default in payment or the acceleration is not rescinded or annulled in each case within 10 days after receipt by the Company of a
Notice of Default; provided, however; that if, prior to a declaration of acceleration of the maturity of the Securities or the entry of judgment in favor of the Trustee in a suit pursuant to the Indenture, the default of the other
Indebtedness has been remedied or cured by the Company or waived by the holders of such Indebtedness, then the Event of Default hereunder will be deemed likewise to have been remedied, cured or waived; or 
  
 (6) the Company or any Significant Subsidiary or any
Subsidiaries of the Company which in the aggregate would constitute a Significant Subsidiary pursuant to or under or within the meaning of any Bankruptcy Law: 
  

(A) commences a voluntary case or proceeding; 
  

(B) consents to the entry of an order for relief against it in an involuntary case or proceeding or the commencement of any case
against it; 
  
 (C) consents to the appointment
of a Custodian of it or for any substantial part of its property; 
  
 (D) makes a general assignment for the benefit of its creditors; 
  
 (E) files a petition in bankruptcy or answer or consent seeking reorganization or relief; or 
  
 (F) consents to the filing of such a petition or the
appointment of or taking possession by a Custodian; 
  
 (7) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 
  
 (A) is for relief against the Company or any Significant Subsidiary or any Subsidiaries of the Company which in the aggregate would
constitute a Significant Subsidiary in an involuntary case or proceeding, or adjudicates the Company or any Significant Subsidiary or any Subsidiaries of the Company which in the aggregate would constitute a Significant Subsidiary insolvent or
bankrupt; 
  

 45 

 (B) appoints a Custodian of the Company or any Significant Subsidiary or any Subsidiaries
of the Company which in the aggregate would constitute a Significant Subsidiary or for any substantial part of its or their properties; or 
  
 (C) orders the winding up or liquidation of the Company or any Significant Subsidiary or any Subsidiaries of the Company which in the
aggregate would constitute a Significant Subsidiary and will cause all the principal amount and all accrued and unpaid interest, including contingent interest, if any, and Liquidated Damages, if any, to become immediately due and payable; or;

  
 and the order or decree remains unstayed and
in effect for 60 days. 
  
 “Bankruptcy
Law” means Title 11, United States Code, or any similar Federal or state law for the relief of debtors. 
  
 “Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law.

  
 A Default under clause (4) or clause (5)
above is not an Event of Default until the Trustee notifies the Company, or the Holders of at least 25% in aggregate principal amount of the Securities at the time outstanding notify the Company and the Trustee, of the Default and the Company does
not cure such Default (and such Default is not waived) within the time specified in clause (4) or clause (5) above after actual receipt of such notice. Any such notice must specify the Default, demand that it be remedied and state that such notice
is a “Notice of Default.” 
  
 The Company will deliver to the Trustee, within five Business Days of becoming aware of the occurrence of an Event of Default, written notice thereof. In addition, the Company shall deliver to the Trustee, within 30 days after it becomes
aware of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time, or both, would become an Event of Default under clause (4) or clause (5) above, its status and what action the Company is taking or
proposes to take with respect thereto. 
  
 SECTION 6.02. Acceleration. If an Event of Default (other than an Event of Default specified in Section 6.01(6) or (7)) occurs and is continuing, the Trustee by Notice to the Company, or the Holders of at least
25% in aggregate principal amount of the Securities at the time outstanding by notice to the Company and the Trustee, may declare the principal amount plus any accrued interest, including contingent interest, if any, and Liquidated Damages, if any,
through the date of declaration on all the Securities to be immediately due and payable. Upon such a declaration, 

  

 46 

 
such principal amount plus any accrued interest, including contingent interest, if any, and Liquidated Damages, if any, shall be due and payable immediately.
If an Event of Default specified in Section 6.01(6) or (7) occurs and is continuing, the principal amount plus any accrued interest, including contingent interest, if any, and Liquidated Damages, if any, on all the Securities shall become and
be immediately due and payable without any declaration or other act on the part of the Trustee or any Securityholders. The Holders of a majority in aggregate principal amount of the Securities at the time outstanding, by notice to the Trustee (and
without notice to any other Securityholder) may rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default have been cured or waived except nonpayment of the
principal amount plus any accrued interest that have become due solely as a result of acceleration and if all amounts due to the Trustee under Section 7.06 have been paid. No such rescission shall affect any subsequent Default or impair any
right consequent thereto. 
  
 SECTION 6.03. Other Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of the principal amount plus any accrued 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 the Trustee does not possess any of the Securities or produce any of the Securities 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. 
  
 SECTION 6.04. Waiver of Past Defaults. The Holders of a majority in aggregate principal amount of the Securities at
the time outstanding, by notice to the Trustee (and without notice to any other Securityholder), may waive an existing Default and its consequences except (1) an Event of Default described in Section 6.01(1) or (2), (2) a Default in respect
of a provision that under Section 9.02 cannot be amended without the consent of each Securityholder affected or (3) a Default which constitutes a failure to convert any Security or make any required conversion payments, as the case may be, in
accordance with the terms of Article 11. When a Default is waived, it is deemed cured, but no such waiver shall extend to any subsequent or other Default or impair any consequent right. This Section 6.04 shall be in lieu of Section
316(a)1(B) of the TIA and such Section 316(a)1(B) is hereby expressly excluded from this Indenture, as permitted by the TIA. 
  

 47 

 SECTION 6.05. Control by Majority. The Holders of a majority in
aggregate principal amount of the Securities at the time outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. However,
the Trustee may refuse to follow any direction that conflicts with law or this Indenture or that the Trustee determines in good faith is unduly prejudicial to the rights of other Securityholders or would involve the Trustee in personal liability
unless the Trustee is offered indemnity satisfactory to it against loss, liability or expense. This Section 6.05 shall be in lieu of Section 316(a)1(A) of the TIA and such Section 316(a)1(A) is hereby expressly excluded from this Indenture,
as permitted by the TIA. 
  
 SECTION 6.06. Limitation on Suits. A Securityholder may not pursue any remedy with respect to this Indenture or the Securities unless: 
  
 (1) the Holder gives to the Trustee written notice stating that an Event of Default is continuing;

  
 (2) the Holders of at least 25% in aggregate
principal amount of the Securities at the time outstanding make a written request to the Trustee to pursue the remedy; 
  
 (3) such Holder or Holders offer to the Trustee reasonable security or indemnity satisfactory to the Trustee against any loss, liability
or expense; 
  
 (4) the Trustee does not comply
with the request within 60 days after receipt of such notice, request and offer of security or indemnity; and 
  
 (5) the Holders of a majority in aggregate principal amount of the Securities at the time outstanding do not give the Trustee a direction
inconsistent with the request during such 60-day period. 
  
 A Securityholder may not use this Indenture to prejudice the rights of any other Securityholder or to obtain a preference or priority over any other Securityholder. 
  
 SECTION 6.07. Rights of Holders to Receive
Payment. Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of the principal amount, Redemption Price, Purchase Price, Fundamental Change Purchase Price or any accrued interest, including contingent
interest, if any, and Liquidated Damages, if any, in respect of the Securities held by such Holder, on or after the 

  

 48 

 
respective due dates expressed in the Securities or any Redemption Date, and to convert the Securities in accordance with Article 11, or to bring suit
for the enforcement of any such payment on or after such respective dates or the right to convert, shall not be impaired or affected adversely without the consent of such Holder. 
  
 SECTION 6.08. Collection Suit by Trustee. If an Event of Default described in Section
6.01(1) or (2) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company for the whole amount owing with respect to the Securities and the amounts provided for in Section
7.06. 
  
 SECTION 6.09.
Trustee May File Proofs of Claim. In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Company or any other obligor
upon the Securities or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether the principal amount, Redemption Price, Purchase Price, Fundamental Change Purchase Price or any accrued interest in
respect of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of any such amount) shall be entitled and
empowered, by intervention in such proceeding or otherwise, 
  
 (a) to file and prove a claim for the whole amount of the principal amount, Redemption Price, Purchase Price, Fundamental Change Purchase Price, or any accrued interest and to file such other papers or documents as
may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel or any other amounts due the Trustee under
Section 7.06) and of the Holders allowed in such judicial proceeding, and 
  
 (b) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; 

 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator
or similar official 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 the Trustee
any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its 

  

 49 

 
agents and counsel, and any other amounts due the Trustee under Section 7.06. 
  
 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or
adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the 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 6.10.
Priorities. If the Trustee collects any money pursuant to this Article 6, it shall pay out the money in the following order: 
  
 FIRST: to the Trustee for amounts due under Section 7.06; 
  
 SECOND: to Securityholders for amounts due and unpaid on the Securities for the principal amount, Redemption Price, Purchase
Price, Fundamental Change Purchase Price or any accrued interest as the case may be, ratably, without preference or priority of any kind, according to such amounts due and payable on the Securities; and 
  
 THIRD: the balance, if any, to the Company. 
  
 The Trustee may fix a record date and payment date for any
payment to Securityholders pursuant to this Section 6.10. At least 15 days before such record date, the Trustee shall mail to each Securityholder and the Company a notice that states the record date, the payment date and the amount to be
paid. 
  
 SECTION 6.11.
Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any
party litigant (other than the Trustee) 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 6.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.07 or a suit by Holders
of more than 10% in aggregate principal amount of the Securities at the time outstanding. This Section 6.11 shall be in lieu of Section 315(e) of the TIA and such Section 315(e) is hereby expressly excluded from this Indenture, as permitted
by the TIA. 
  

 50 

 SECTION 6.12. Waiver of Stay, Extension or Usury Laws. The Company
covenants (to the extent that it may lawfully do so and to the extent legally enforceable) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any
usury or other law wherever enacted, now or at any time hereafter in force, which would prohibit or forgive the Company from paying all or any portion of the principal amount, Redemption Price, Purchase Price, Fundamental Change Purchase Price or
any accrued interest in respect of Securities, or any interest on such amounts, as contemplated herein, or which may affect the covenants or the performance of this Indenture; and the Company (to the extent that it may lawfully do so and to the
extent legally enforceable) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution
of every such power as though no such law had been enacted. 
  
 ARTICLE 7 
  
 TRUSTEE 
  
 SECTION 7.01. Duties and Responsibilities
of the Trustee; During Default; Prior to Default. The Trustee, prior to the occurrence of an Event of Default hereunder and after the curing or waiving of all such Events of Default which may have occurred, undertakes to perform such duties and
only such duties as are specifically set forth in this Indenture. In case an Event of Default hereunder has occurred (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and
use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs. 
  
 No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent
failure to act or its own willful misconduct, except that 
  
 (a)
prior to the occurrence of an Event of Default hereunder and after the curing or waiving of all such Events of Default which may have occurred: 
  
 (i) the duties and obligations of the Trustee shall be determined solely by the express provisions of this Indenture, and the Trustee
shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
  
 (ii) in the absence of bad faith on the part of the Trustee,
the Trustee may conclusively rely, as to the truth of the statements and the 

  

 51 

 
correctness of the opinions expressed therein, upon any statements, certificates or opinions furnished to the Trustee and conforming to the requirements of
this Indenture; but in the case of any such statements, certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or
not they conform to the requirements of this Indenture; 
  
 (b)
the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Responsible Officers of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; and

  
 (c) the Trustee shall not be liable with respect to any action
taken or omitted to be taken by it in good faith in accordance with the direction of the Holders pursuant to Section 6.05 relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred upon the Trustee, under this Indenture. 
  
 None of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal
financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if the Trustee believes in good faith that the repayment of such funds or adequate indemnity against such liability is not reasonably
assured to it. 
  
 The provisions of this Section
7.01 are in furtherance of and subject to Sections 315 and 316 of the TIA. 
  
 SECTION 7.02. Certain Rights of the Trustee. In furtherance of and subject to the TIA and subject to Section
7.01: 
  
 (a) the Trustee may rely and shall be protected
in acting or refraining from acting upon any resolution, Officers’ Certificate or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, debenture, note, coupon, security or other paper or document
believed by it to be genuine and to have been signed or presented by the proper party or parties; 
  
 (b) any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by an Officers’ Certificate (unless other
evidence in respect thereof be herein specifically prescribed); and any resolution of the Board of Directors may be evidenced to the Trustee by a copy thereof certified by the secretary or an assistant secretary of the Company; 
  
 (c) the Trustee may consult with counsel of its selection and any advice or
Opinion of Counsel shall be full and complete authorization and protection in 

  

 52 

 
respect of any action taken, suffered or omitted to be taken by it hereunder in good faith and in accordance with such advice or Opinion of Counsel;

  
 (d) the Trustee shall be under no obligation to exercise any
of the trusts or powers vested in it by this Indenture with the request, order or direction of any of the Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee reasonable security
or indemnity against the costs, expenses and liabilities which might be incurred therein or thereby; 
  
 (e) the Trustee shall not be liable for any action taken or omitted by it in good faith and believed by it to be authorized or within the discretion,
rights or powers conferred upon it by this Indenture; 
  
 (f)
prior to the occurrence of an Event of Default hereunder and after the curing or waiving of all such Events of Default, the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, consent, order, approval, appraisal, bond, debenture, note, coupon, security, or other paper or document unless requested in writing to do so by the Holders of not less than a majority in
aggregate principal amount of the Securities then outstanding; provided that, if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the
opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require reasonable indemnity against such expenses or liabilities as a condition to proceeding; the
reasonable expenses of every such investigation shall be paid by the Company or, if paid by the Trustee or any predecessor trustee, shall be repaid by the Company upon demand; and 
  
 (g) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or
through agents or attorneys not regularly in its employ and the Trustee shall not be responsible for any misconduct or negligence on the part of any such agent or attorney appointed with due care by it hereunder. 
  
 SECTION 7.03. Trustee Not Responsible for
Recitals, Disposition of Securities or Application of Proceeds Thereof. The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and the
Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representation as to the validity or sufficiency of this Indenture or of the Securities. The Trustee shall not be accountable for the use or application by the
Company of any of the Securities or of the proceeds thereof. 
  

 53 

 SECTION 7.04. Trustee and Agents May Hold Securities; Collections,
etc. The Trustee or any agent of the Company or the Trustee, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not the Trustee or such agent and, subject to
Sections 7.08 and 7.13, if operative, may otherwise deal with the Company and receive, collect, hold and retain collections from the Company with the same rights it would have if it were not the Trustee or such agent. 
  
 SECTION 7.05. Moneys Held by Trustee.
Subject to the provisions of Section 8.02 hereof, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds
except to the extent required by mandatory provisions of law. Neither the Trustee nor any agent of the Company or the Trustee shall be under any liability for interest on any moneys received by it hereunder. 
  
 SECTION 7.06. Compensation and
Indemnification of Trustee and its Prior Claim. The Company covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be entitled to, such compensation (which shall not be limited by any provision of law in regard to
the compensation of a trustee of an express trust) to be agreed to in writing by the Trustee and the Company, and the Company covenants and agrees to pay or reimburse the Trustee and each predecessor Trustee upon its request for all reasonable
expenses, disbursements and advances incurred or made by or on behalf of it in accordance with any of the provisions of this Indenture (including (i) the reasonable compensation and the expenses and disbursements of its counsel and of all agents and
other persons not regularly in its employ and (ii) interest at the prime rate on any disbursements and advances made by the Trustee and not paid by the Company within 5 days after receipt of an invoice for such disbursement or advance) except any
such expense, disbursement or advance as may arise from its negligence or bad faith. The Company also covenants to indemnify the Trustee and each predecessor Trustee for, and to hold it harmless against, any loss, liability or expense incurred
without negligence or bad faith on its part, arising out of or in connection with the acceptance or administration of this Indenture or the trusts hereunder and its duties hereunder, including the costs and expenses of defending itself against or
investigating any claim of liability in the premises. The obligations of the Company under this Section to compensate and indemnify the Trustee and each predecessor Trustee and to pay or reimburse the Trustee and each predecessor Trustee for
expenses, disbursements and advances shall constitute additional indebtedness hereunder and shall survive the satisfaction and discharge of this Indenture. Such additional indebtedness shall be a senior claim to that of the Securities upon all
property and funds held or collected by the Trustee as such, except funds held in trust for the 

  

 54 

 
benefit of the Holders of particular Securities, and the Securities are hereby effectively subordinated to such senior claim to such extent. The provisions
of this Section shall survive the termination of this Indenture. 
  
 SECTION 7.07. Right of Trustee to Rely on Officers’ Certificate, etc. Subject to Sections 7.01 and 7.02, whenever in the administration of the trusts of this Indenture the
Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering or omitting any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the
absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’ Certificate delivered to the Trustee, and such certificate, in the absence of negligence or bad faith on the part
of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted by it under the provisions of this Indenture upon the faith thereof. 
  
 SECTION 7.08. Conflicting Interests. If the Trustee has or shall acquire a conflicting
interest within the meaning of the TIA, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the TIA. 
  
 SECTION 7.09. Persons Eligible for
Appointment as Trustee. The Trustee shall at all times be a corporation or banking association having a combined capital and surplus of at least $50,000,000. If such corporation or banking association publishes reports of condition at least
annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then, for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus
as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect
specified in Section 7.10. 
  
 SECTION 7.10. Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities
by giving written notice of resignation to the Company and by mailing notice thereof by first class mail to the Holders of Securities at their last addresses as they shall appear on the Security register. Upon receiving such notice of resignation,
the Company shall promptly appoint a successor trustee or trustees by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the
successor trustee or trustees. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, 

  

 55 

 
the resigning trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona
fide Holder of a Security for at least six months may, subject to the provisions of Section 7.11, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may
thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 
  
 (b) In case at any time any of the following shall occur: 
  
 (i) the Trustee shall fail to comply with the provisions of Section 7.08 with respect to any Securities after written request
therefor by the Company or by any Securityholder who has been a bona fide Holder of a Security for at least six months; or 
  
 (ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 7.09 and shall fail to resign after
written request therefor by the Company or by any Securityholder; or 
  
 (iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed, or any public officer shall take
charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation; or 
  
 (iv) the Company shall determine that the Trustee has failed to perform its obligations under this Indenture in any material respect;

  
 then, in any such case, the Company may remove the Trustee
and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors of the Company, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or,
subject to the provisions of Section 7.11, any Securityholder who has been a bona fide Holder of a Security for at least six months may on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for
the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. If no successor trustee shall have
been appointed and have accepted appointment within 30 days after a notice of removal has been given, the removed trustee may petition a court of competent jurisdiction for the appointment of a successor trustee. 
  
 (c) The Holders of a majority in aggregate principal amount of the Securities
at the time outstanding may at any time remove the Trustee and appoint a successor trustee by delivering to the Trustee so removed, to the successor 

  

 56 

 
trustee so appointed and to the Company the evidence provided for in Section 1.05 of the action in that regard taken by the Securityholders.

  
 (d) Any resignation or removal of the Trustee and any
appointment of a successor trustee pursuant to any of the provisions of this Section 7.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.11. 
  
 SECTION 7.11. Acceptance of Appointment by
Successor Trustee. Any successor trustee appointed as provided in Section 7.10 shall execute and deliver to the Company and to its predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or
removal of the predecessor trustee shall become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all rights, powers, duties and obligations of its predecessor hereunder, with like effect as
if originally named as trustee hereunder; but, nevertheless, on the written request of the Company or of the successor trustee, upon payment of its charges then unpaid, the trustee ceasing to act shall pay over to the successor trustee all moneys at
the time held by it hereunder and shall execute and deliver an instrument transferring to such successor trustee all such rights, powers, duties and obligations. Upon request of any such successor trustee, the Company shall execute any and all
instruments in writing for more fully and certainly vesting in and confirming to such successor trustee all such rights and powers. Any trustee ceasing to act shall, nevertheless, retain a prior claim upon all property or funds held or collected by
such trustee to secure any amounts then due it pursuant to the provisions of Section 7.06. 
  
 No successor trustee shall accept appointment as provided in this Section 7.11 unless at the time of such acceptance such successor
trustee shall be qualified under the provisions of Section 7.08 and eligible under the provisions of Section 7.09. 
  
 Upon acceptance of appointment by any successor trustee as provided in this Section 7.11, the Company shall mail notice thereof by
first class mail to the Holders of Securities at their last addresses as they shall appear in the register. If the acceptance of appointment is substantially contemporaneous with the resignation, then the notice called for by the preceding sentence
may be combined with the notice called for by Section 7.10. If the Company fails to mail such notice within ten days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be mailed at the
expense of the Company. 
  
 SECTION 7.12. Merger, Conversion, Consolidation or Succession to Business of Trustee. Any corporation or banking association into which the Trustee may be merged or converted or with which it may be 

  

 57 

 
consolidated, or any corporation or banking association resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any
corporation or banking association, succeeding to all or substantially all of the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided that such corporation or banking association shall be qualified
under the provisions of Section 7.08 and eligible under the provisions of Section 7.09, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary
notwithstanding. In case at the time such successor to the Trustee shall succeed to the trusts created by this Indenture any of the Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the
certificate of authentication of any predecessor Trustee and deliver such Securities so authenticated; and, in case at that time any of the Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities
either in the name of any predecessor hereunder or in the name of the successor Trustee; and in all such cases such certificate shall have the full force and effect that this Indenture provides for the certificate of authentication of the Trustee;
provided, that the right to adopt the certificate of authentication of any predecessor Trustee or to authenticate Securities in the name of any predecessor Trustee shall apply only to its successor or successors by merger, conversion or
consolidation. 
  
 SECTION 7.13.
Preferential Collection of Claims Against the Company. The Trustee shall comply with the provisions of Section 311 of the TIA. 
  
 SECTION 7.14. Reports by the Trustee. (a) The Trustee shall transmit to Holders and other persons such reports
concerning the Trustee and its actions under this Indenture as may be required pursuant to the TIA on or before July 15 in each year that such report is required, such reports to be dated as of the immediately preceding May 15. 
  
 (b) A copy of each such report shall, at the time of such transmission to
Securityholders, be furnished to the Company and be filed by the Trustee with each stock exchange upon which the Securities are listed and also with the SEC. The Company agrees to notify the Trustee when and as the Securities become admitted to
trading on any national securities exchange. 
  
 SECTION 7.15. Trustee to Give Notice of Default, but May Withhold in Certain Circumstances. The Trustee shall transmit to the Securityholders, as the names and addresses of such Holders appear on the Security register,
notice by mail of all Defaults which have occurred, such notice to be transmitted within 90 days after the occurrence thereof, unless such defaults shall have been cured before the giving of such; provided that, except in the case of Default in the
payment of the principal of, 

  

 58 

 
interest on, or other similar obligation with respect to, any of the Securities, the Trustee shall be protected in withholding such notice if and so long as
the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the Securityholders.

  
 ARTICLE 8 
  
 DISCHARGE OF INDENTURE

  
 SECTION 8.01. Discharge of
Liability on Securities. When (i) the Company delivers to the Trustee all outstanding Securities (other than Securities replaced pursuant to Section 2.07) for cancellation or (ii) all outstanding Securities have become due and payable and
the Company deposits with the Trustee cash or, if expressly permitted by the terms of the Securities, Class A Common Stock sufficient to pay all amounts due and owing on all outstanding Securities (other than Securities replaced pursuant to Section
2.07), and if in either case the Company pays all other sums payable hereunder by the Company, then this Indenture shall, subject to Section 7.06, cease to be of further effect. The Trustee shall join in the execution of a document
prepared by the Company acknowledging satisfaction and discharge of this Indenture on demand of the Company accompanied by an Officers’ Certificate and Opinion of Counsel and at the cost and expense of the Company. 
  
 SECTION 8.02. Repayment to the
Company. The Trustee and the Paying Agent shall return to the Company upon written request any money or securities held by them for the payment of any amount with respect to the Securities that remains unclaimed for two years, subject to
applicable unclaimed property law. After return to the Company, Holders entitled to the money or securities must look to the Company for payment as general creditors unless an applicable abandoned property law designates another person and the
Trustee and the Paying Agent shall have no further liability to the Securityholders with respect to such money or securities for that period commencing after the return thereof. 
  

 59 

 ARTICLE 9 
  
 AMENDMENTS 
  
 SECTION 9.01. Without Consent of Holders. The Company and the Trustee may amend this Indenture or the Securities
without the consent of any Securityholder: 
  
 (1) to cure any ambiguity, omission, defect or inconsistency; provided, however, that such amendment does not materially adversely affect the rights of any Securityholder; 
  
 (2) to comply with Article 5 or Section 11.16; 
  
 (3) to provide for uncertificated Securities in addition to
the certificated securities so long as such uncertificated Securities are in registered form for purposes of the Internal Revenue Code of 1986, as amended; 
  
 (4) to make any change that does not adversely affect in any material respect the rights of any Securityholder; 
  
 (5) to make any change to comply with the TIA, or any
amendment thereto, or to comply with any requirement of the SEC in connection with the qualification of the Indenture under the TIA; or 
  
 (6) add to the Company’s covenants or obligations under this Indenture for the protection of the Holders or surrender any right,
power or option conferred by this Indenture on the Company. 
  
 SECTION 9.02. With Consent of Holders. With the written consent of the Holders of at least a majority in aggregate principal amount of the Securities at the time outstanding, the Company and the
Trustee may amend this Indenture or the Securities. However, without the consent of each Securityholder affected, an amendment to this Indenture or the Securities may not: 
  
 (1) make any change to the principal amount of Securities whose Holders must consent to an amendment;

  
 (2) alter the manner or rate of accrual or
extend the time for payment on any interest, including contingent interest, if any or Liquidated Damages, if any, on any Security; 
  

 60 

 (3) reduce the principal amount of or extend the Stated Maturity of any Security;

  
 (4) reduce the Redemption Price, Purchase
Price or Fundamental Change Purchase Price of any Security; 
  
 (5) make any Security payable at a place of payment or in money or securities other than that stated in the Security; 
  
 (6) make any change in Section 6.04, Section 6.07 or this Section 9.02, except to increase any percentage set forth
therein; 
  
 (7) make any change that adversely
affects the right to convert any Security; 
  
 (8) make any change that adversely affects the right to require the Company to purchase the Securities in accordance with the terms thereof and this Indenture or that adversely affects the redemption provisions of the Securities and this
Indenture; or 
  
 (9) impair the right to
institute suit for the enforcement of any payment with respect to, or conversion of, the Securities. 
  
 It shall not be necessary for the consent of the Holders under this Section 9.02 to approve the particular form of any proposed
amendment, but it shall be sufficient if such consent approves the substance thereof. 
  
 After an amendment under this Section 9.02 becomes effective, the Company shall mail to each Holder a notice briefly describing the
amendment. 
  
 SECTION 9.03.
Compliance with Trust Indenture Act. Every supplemental indenture executed pursuant to this Article shall comply with the TIA. 
  
 SECTION 9.04. Revocation and Effect of Consents, Waivers and Actions. Until an amendment, waiver or other action by
Holders becomes effective, a consent thereto by a Holder of a Security hereunder is a continuing consent by the Holder and every subsequent Holder of that Security or portion of the Security that evidences the same obligation as the consenting
Holder’s Security, even if notation of the consent, waiver or action is not made on the Security. However, any such Holder or subsequent Holder may revoke the consent, waiver or action as to such Holder’s Security or portion of the
Security if the Trustee receives the notice of revocation before the date the amendment, waiver or action 

  

 61 

 
becomes effective. After an amendment, waiver or action becomes effective, it shall bind every Securityholder. 
  
 SECTION 9.05. Notation on or Exchange of
Securities. Securities authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided
for in such supplemental indenture. If the Company shall so determine, new Securities so modified as to conform, in the opinion of the Trustee and the Board of Directors, to any such supplemental indenture may be prepared and executed by the Company
and authenticated and delivered by the Trustee in exchange for outstanding Securities. 
  
 SECTION 9.06. Trustee to Sign Supplemental Indentures. The Trustee shall sign any supplemental indenture authorized
pursuant to this Article 9 if the amendment contained therein does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may, but need not, sign such supplemental indenture. In signing such
supplemental indenture the Trustee shall be entitled to receive, and (subject to the provisions of Section 7.01) shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel stating that such amendment is
authorized or permitted by this Indenture. 
  
 SECTION 9.07. 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. 
  
 ARTICLE 10 
  
 PAYMENT OF INTEREST 
  

SECTION 10.01. Payment of Interest; Interest Rights Preserved. 
  
 (a) The Securities shall bear periodic interest, as set
forth in paragraph 1 of the Securities, and, subject to the conditions contained in paragraph 11 of the Securities, shall bear contingent interest payable for the interest period from August 5, 2008 to January 31, 2009, and thereafter for any
six-month interest period measured from February 1 to July 31 or August 1 to January 31. 
  
 (b) Interest on any Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose 

  

 62 

 
name that Security is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for
such purpose. Each installment of interest on any Security shall be paid in same-day funds by transfer to an account maintained by the payee located inside the United States. In the case of a permanent Global Security, any interest payable on any
Interest Payment Date will be paid to the Depositary, with respect to that portion of such permanent Global Security held for its account by Cede & Co. for the purpose of permitting such party to credit the interest received by it in respect of
such permanent Global Security to the accounts of the beneficial owners thereof. 
  
 (c) Except as otherwise specified with respect to the Securities, any interest on any Security that is payable on, but is not punctually
paid or duly provided for within 30 days following, any Interest Payment Date (herein called “Defaulted Interest”, which term shall include any accrued and unpaid interest that has accrued on such defaulted amount in accordance with
paragraph 1 of the Securities), shall forthwith cease to be payable to the registered Holder thereof on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, as its election in
each case, as provided in clause (1) or (2) below: 
  
 (1) The Company may elect to make payment of any Defaulted Interest to the persons in whose names the Securities are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be
fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date of the proposed payment (which shall not be less than 20 days after such notice is
received by the Trustee), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the
Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a
Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the
proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date
therefor to be mailed, first-class postage prepaid, to each Holder of Securities at his address as it appears on the list of Securityholders maintained 

  

 63 

 
pursuant to Section 2.05 not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the
Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the persons in whose names the Securities are registered at the close of business on such Special Record Date and shall no longer be payable
pursuant to the following clause (2). 
  
 (2) The
Company may make payment of any Defaulted Interest on the Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such
exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 
  
 Subject to the foregoing provisions of this Section and Section 2.06, each Security delivered under this
Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 
  
 ARTICLE 11 
  
 CONVERSION 
  
 SECTION 11.01. Conversion Privilege. A Holder of a Security may convert such Security into Class A Common Stock at
any time during the period in which the conditions stated in paragraph 9 of the Securities are met. The number of shares of Class A Common Stock issuable upon conversion of a Security per $1,000 of principal amount thereof (the “Conversion
Rate”) shall be that set forth in paragraph 9 in the Securities, subject to adjustment as herein set forth. Pursuant to Section 11.02, the Company may elect to deliver upon conversion, in lieu of our Class A Common Stock, cash or a
combination of cash and Class A Common Stock. 
  
 A Holder may convert a portion of a Security if the portion is $1,000 or an integral multiple of $1,000. Provisions of this Indenture that apply to conversion of all of a Security also apply to conversion of a portion of a Security.

  
 “Average Quoted Price” means
the average of the Sale Prices of the Class A Common Stock for the shorter of 

  

 64 

 (i) 30 consecutive Trading Days ending on the last full Trading Day prior to the Time of
Determination with respect to the rights, warrants or options or distribution in respect of which the Average Quoted Price is being calculated, or 
  
 (ii) the period (x) commencing on the date next succeeding the first public announcement of (a) the issuance of rights, warrants or
options or (b) the distribution, in each case, in respect of which the Average Quoted Price is being calculated and (y) proceeding through the last full Trading Day prior to the Time of Determination with respect to the rights, warrants or options
or distribution in respect of which the Average Quoted Price is being calculated (excluding days within such period, if any, which are not Trading Days), or 
  
 (iii) the period, if any, (x) commencing on the date next succeeding the Ex-Dividend Time with respect to the next preceding (a) issuance
of rights, warrants or options or (b) distribution, in each case, for which an adjustment is required by the provisions of Section 11.07 or 11.08 and (y) proceeding through the last full Trading Day prior to the Time of Determination with respect to
the rights, warrants or options or distribution in respect of which the Average Quoted Price is being calculated (excluding days within such period, if any, which are not Trading Days). 
  
 In the event that the Ex-Dividend Time (or in the case of a subdivision or combination, the effective date
with respect thereto) with respect to a dividend, subdivision, combination or reclassification to which Section 11.06(1), (2) or (3) applies occurs during the period applicable for calculating “Average Quoted Price” pursuant to the
definition in the preceding sentence, “Average Quoted Price” shall be calculated for such period in a manner determined by the Board of Directors to reflect the impact of such dividend, subdivision, combination or reclassification
on the Sale Price of the Common Stock during such period. 
  
 “Time of Determination” means the time and date of the earlier of (i) the determination of stockholders entitled to receive rights, warrants or options or a distribution, in each case, to which
Section 11.07 or 11.08 applies and (ii) the time (“Ex-Dividend Time”) immediately prior to the commencement of “ex-dividend” trading for such rights, warrants or options or distribution on the New York Stock
Exchange or such other national or regional exchange or market on which the Class A Common Stock is then listed or quoted. 
  
 SECTION 11.02. Conversion Procedure. To convert a Security a Holder must satisfy the requirements in paragraph 9 of
the Securities. The 

  

 65 

 
date on which the Holder satisfies all those requirements is the conversion date (the “Conversion Date”). Upon conversion of a Security,
such person shall no longer be a Holder of such Security. 
  
 Within two Business Days following the Conversion Date, the Company shall deliver to the Holder, through the Conversion Agent, written notice (the “Conversion Election Notice”) of whether such
Securities shall be converted into Class A Common Stock based on the Conversion Rate or cash shall be delivered in lieu of all or a portion of such Class A Common Stock (unless the Company shall have already done so pursuant to a notice of
redemption Section 3.03 hereof in respect of a Conversion Date occurring before the Redemption Date set forth in such notice). If the Company elects to deliver cash in lieu of all or a portion of the Class A Common Stock otherwise deliverable upon
conversion, the amount of such cash shall be determined based on the Average Sale Price. “Average Sale Price” means the average Sale Price of the Class A Common Stock for the five consecutive Trading Days immediately following (i)
the date the Company delivers the Conversion Election Notice or (ii) if the Company has given the Conversion Election Notice as part of a notice of redemption, the Conversion Date. If the Company shall have notified the Holder that all of such
Securities shall be converted into Class A Common Stock, the Company shall deliver to the Holder, through the Conversion Agent, a certificate for the number of full shares of Class A Common Stock issuable upon the conversion and cash in lieu of any
fractional share determined pursuant to Section 11.03 as soon as practicable, but in any event no later than the fifth Business Day following the Conversion Date. If the Company shall have notified the Holder that it will deliver cash or a
combination of cash and Class A Common Stock upon conversion, the Company shall deliver to the Holder through the Conversion Agent, no later than the tenth Business Day following the Conversion Date, such cash and, if applicable, a certificate for
the number of full shares of Class A Common Stock issuable upon the conversion and cash in lieu of any fractional shares pursuant to Section 11.03. The Company may not change its election with respect to the consideration to be delivered upon
conversion of a Security once the Company has delivered the Conversion Election Notice, either separately or as part of a notice of redemption. 
  
 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 of the Depositary as in effect from time to time. The Person in whose name the Class A Common Stock certificate is registered shall be deemed to be a shareholder of
record at the close of business on (i) the Conversion Date or (ii) if the Company elects pursuant to the preceding paragraph to deliver any cash in lieu of Class A Common Stock (other than 

  

 66 

 
cash in lieu of fractional shares), the date on which the Average Sale Price is determined with respect to the applicable Conversion Date; provided however,
that if any such date is a date when the stock transfer books of the Company are closed, such Person shall be deemed a shareholder of record as of the next date on which the stock transfer books of the Company are open. 
  
 No payment or adjustment will be made for dividends on, or
other distributions with respect to, any Class A Common Stock except as provided in this Article 11. On conversion of a Security, that portion of (except as provided below) accrued interest attributable to the period from the Issue Date of
the Security or the date on which interest was last paid through the Conversion Date with respect to the converted Security shall not be cancelled, extinguished or forfeited, but rather shall be deemed to be paid in full to the Holder thereof
through delivery of the Class A Common Stock (together with the cash payment, if any, in lieu of fractional shares), or cash in lieu thereof, in exchange for the Security being converted pursuant to the provisions hereof; and the fair market value
of such shares of Class A Common Stock (together with any such cash payment in lieu of fractional shares), or cash in lieu thereof, shall be treated as issued, to the extent thereof, first in exchange for interest accrued through the Conversion
Date, and the balance, if any, of such fair market value of such Class A Common Stock (and any such cash payment), or cash in lieu thereof, shall be treated as issued in exchange for the principal amount of the Security being converted pursuant to
the provisions hereof. Notwithstanding the foregoing, accrued but unpaid interest will be payable upon conversion of Securities made concurrently with or after acceleration of Securities following an Event of Default. 
  
 If the Holder converts more than one Security at the same
time, the number of shares of Class A Common Stock issuable upon the conversion shall be based on the total principal amount of the Securities converted. 
  
 If the last day on which a Security may be converted is a Legal Holiday, the Security may be surrendered on the next succeeding day that
is not a Legal Holiday. 
  
 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 in an authorized denomination equal in principal amount to the unconverted portion of the Security
surrendered. 
  
 The Holders’ rights to
convert Securities into Class A Common Stock are subject to the Company’s right to elect instead to pay each such Holder the amount of cash determined pursuant to this Article in lieu of delivering all or any portion of such Class A Common
Stock; provided, 

  

 67 

 
however, that if an Event of Default (other than a default in a cash payment upon conversion of the Securities) shall have occurred and be continuing,
the Company shall deliver Class A Common Stock in accordance with this Article, whether or not the Company has delivered a Conversion Election Notice to the effect that the Securities would be paid in cash or a combination of cash and Class A Common
Stock. 
  
 SECTION 11.03.
Fractional Shares. The Company will not issue a fractional share of Class A Common Stock upon conversion of a Security. Instead, the Company will deliver cash for the current market value of the fractional share. The current market value of a
fractional share shall be determined, to the nearest 1/1,000th of a share, by multiplying the Sale Price, on the last Trading Day prior to the Conversion Date, of a full share by the fractional amount and rounding the product to the nearest whole
cent. 
  
 SECTION 11.04. Taxes
on Conversion. If a Holder converts a Security, the Company shall pay any documentary, stamp or similar issue or transfer tax due on the issue of shares of Class A Common Stock upon the conversion. However, the Holder shall pay any such tax
which is due because the Holder requests the shares to be issued in a name other than the Holder’s name. The Conversion Agent may refuse to deliver the certificates representing the Class A Common Stock being issued in a name other than the
Holder’s name until the Conversion Agent receives a sum sufficient to pay any tax which will be due because the shares are to be issued in a name other than the Holder’s name. Nothing herein shall preclude any tax withholding required by
law or regulations. 
  
 SECTION
11.05. Company to Provide Stock. The Company shall, prior to issuance of any Securities under this Article 11, and from time to time as may be necessary, reserve out of its authorized but unissued Class A Common Stock a sufficient
number of shares of Common Stock to permit the conversion of the Securities. 
  
 All shares of Class A Common Stock delivered upon conversion of the Securities shall be newly issued shares or treasury shares, shall be duly and validly issued and fully paid and nonassessable and shall be free from
preemptive rights and free of any lien or adverse claim. 
  
 The Company will endeavor promptly to comply with all federal and state securities laws regulating the offer and delivery of shares of Class A Common Stock upon conversion of Securities, if any, and will list or cause
to have quoted such shares of Class A Common Stock on each national securities exchange or in the over-the-counter market or such other market on which the Class A Common Stock is then listed or quoted. 
  

 68 

 SECTION 11.06. Adjustment for Change in Capital Stock. If, after
the Issue Date of the Securities, the Company: 
  
 (1) pays a dividend or makes a distribution on its Class A Common Stock in shares of its Class A Common Stock; 
  
 (2) subdivides its outstanding shares of Class A Common Stock into a greater number of shares; or 
  
 (3) combines its outstanding shares of Class A Common Stock
into a smaller number of shares; 
  
 then the conversion
privilege and the Conversion Rate in effect immediately prior to such action shall be adjusted so that the Holder of a Security thereafter converted may receive the number of shares of Capital Stock of the Company which such Holder would have owned
immediately following such action if such Holder had converted the Security immediately prior to such action. 
  
 The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after
the effective date in the case of a subdivision or combination. 
  
 SECTION 11.07. Adjustment for Rights Issue. If after the Issue Date of the Securities, the Company distributes any rights, warrants or options to all holders of its Class A Common Stock entitling
them, for a period expiring within 60 days after the record date for such distribution, to purchase shares of Class A Common Stock at a price per share less than the Sale Price as of the Time of Determination, the Conversion Rate shall be adjusted
in accordance with the formula: 
  

	R’ = R x	 	       (O + N)        

	 	 	

	 	 	 (O + (N x P)/M)

  
 where: 
  
 R’ = the adjusted Conversion Rate. 
  
 R = the current Conversion Rate. 
  
 O = the number of shares of Class A Common Stock outstanding on the record
date for the distribution to which this Section 11.07 is being applied. 
  
 N = the number of additional shares of Class A Common Stock offered for subscription or purchase 
  

 69 

 P = the offering price per share of the additional shares. 
  
 M = the Average Quoted Price 
  
 The adjustment shall become effective immediately after the record date for
the determination of shareholders entitled to receive the rights, warrants or options to which this Section 11.07 applies. If all of the shares of Class A Common Stock subject to such rights, warrants or options have not been issued when such
rights, warrants or options expire, then the Conversion Rate shall promptly be readjusted to the Conversion Rate which would then be in effect had the adjustment upon the issuance of such rights, warrants or options been made on the basis of the
actual number of shares of Class A Common Stock issued upon the exercise of such rights, warrants or options. 
  
 No adjustment shall be made under this Section 11.07 if the application of the formula stated above in this Section 11.07 would result in a
value of R’ that is equal to or less than the value of R. 
  
 SECTION 11.08. Adjustment for Other Distributions. If, after the Issue Date of the Securities, the Company distributes to all holders of its Class A Common Stock any of its assets, debt securities, shares of Capital
Stock of the Company or any rights, warrants or options to purchase securities of the Company (including securities or cash, but excluding (x) distributions of rights, warrants or options referred to in Section 11.07 and (y) distributions
consisting exclusively of cash) the Conversion Rate shall be increased so that the same shall be equal to the rate determined by multiplying the Conversion Rate in effect on the record date of such distribution by a fraction, 
  
 (i) the numerator of which shall be the Market Price on such record date;
and 
  
 (ii) the denominator of which shall be the Market Price on
such record date less the fair market value (as determined by the Board of Directors, whose determination shall be conclusive, and described in a resolution of the Board of Directors) on such record date of the portion of the securities so
distributed applicable to one share of Class A Common Stock, 
  
 such adjustment
to become effective immediately prior to the opening of business on the day following such record date; provided that if the then fair market value (as so determined) of the portion of the Securities so distributed applicable to one share of Class A
Common Stock is equal to or greater than the Market Price on the record date, in lieu of the foregoing adjustment, adequate provision shall be made so that each Securityholder shall have the right to receive upon conversion the amount of Securities
such holder would have received had such holder converted each Security 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 

  

 70 

 
Rate that would then be in effect if such dividend or distribution had not been declared. If the Board of Directors determines the fair market value of any
distribution for purposes of this Section 11.08 by reference to the actual or when issued trading market for any securities, it must in doing so consider the prices in such market over the same period used in computing the Market Price on the
applicable record date. 
  
 If the dividend or distribution
requiring an adjustment pursuant to this Section 11.08 consists of Capital Stock of any class or series, or similar equity interests, of or relating to a Subsidiary or other business unit of the Company, for purposes of making such adjustment, (i)
the Market Price shall be determined as of the date (the “Ex-Dividend Date”) on which “ex-dividend trading” commences for such distribution on the NASDAQ National Market or such other national or regional exchange or
market on which such securities are then listed or quoted, based on the average of the Sale Prices of the Class A Common Stock for the ten (10) Trading Days commencing on and including the fifth Trading Day after the Ex-Dividend Date and (ii) the
fair market value of such dividend or distribution shall equal the number of securities distributed in respect of each share of Class A Common Stock multiplied by the average of the closing sale prices of those securities distributed for the ten
(10) Trading Days commencing on and including the fifth Trading Day after the Ex-Dividend Date. 
  
 SECTION 11.09. Adjustments for Cash Dividends or Distributions. In case the Company shall, by dividend or otherwise, distribute to
all holders of its Class A Common Stock cash, excluding any dividend or distribution in connection with the liquidation, dissolution or winding up of the Company, whether voluntary or involuntary, to the extent that the aggregate amount of cash
distributions per share of Class A Common Stock over the preceding twelve month period exceeds 1.0% of the Company’s Market Capitalization (as defined below) as determined on the record date for the most recent dividend or distribution, then,
in such case, the Conversion Rate shall be increased so that the same shall equal to the rate determined by multiplying the Conversion Rate in effect immediately prior to the close of business on such record date by a fraction, 
  
 (i) the numerator of which shall be the Market Price on such record date;
and 
  
 (ii) the denominator of which shall be the Market Price on
such record date less the amount of cash so distributed (including only the amount of cash distributed in excess of the threshold set forth above) applicable to one share of Class A Common Stock, 
  
 such adjustment to become effective immediately prior to the opening of business on the
Business Day following such record date; provided that if the portion of the cash so distributed applicable to one share of Class A Common Stock is equal to or greater than the Market Price on the record date, in lieu of the foregoing 

  

 71 

 
adjustment, adequate provision shall be made so that each Holder shall have the right to receive upon conversion the amount of cash such holder would have
received had such holder converted each Security 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 dividend or
distribution had not been declared. If any adjustment is required to be made as set forth in this Section 11.09 as a result of a distribution that is a quarterly or other regular periodic dividend, such adjustment shall be based upon the amount by
which such distribution exceeds the amount of the quarterly or other regular periodic cash dividend permitted to be excluded pursuant hereto. If an adjustment is required to be made as set forth in this Section 11.09 above as a result of a
distribution that is not a quarterly or other regular periodic dividend, such adjustment shall be based upon the full amount of the distribution. 
  
 For the purposes of this Section 11.09, “Market Capitalization” shall mean, as of any date, the product of the Sale Price of the
Company’s Class A Common Stock on such date multiplied by the number of shares of our Class A Common Stock then outstanding. 
  
 SECTION 11.10. Adjustments for Tender or Exchange Offers. In case a tender or exchange offer (other than an odd-lot offer) made by,
the Company or any Subsidiary of the Company for all or any portion of the Company’s Common Stock shall expire and such tender or exchange offer shall involve the payment by the Company or such Subsidiary of consideration per share of Class A
Common Stock having a fair market value (as determined in good faith by the Board of Directors, whose determination shall be conclusive and described in a resolution of the Board of Directors) at the last time (the “Expiration
Time”) tenders or exchanges may be made pursuant to such tender or exchange offer (as it shall have been amended) that exceeds the Sale Price on the Trading Day next succeeding the Expiration Time, the Conversion Rate shall be increased so
that the same shall equal the rate determined by multiplying the Conversion Rate in effect immediately prior to the effectiveness of the Conversion Rate increase contemplated by this paragraph by a fraction of which the numerator shall be the sum of
(x) the fair market value (determined as aforesaid) of the aggregate consideration payable to stockholders based on the acceptance (up to any maximum specified in the terms of the tender or exchange offer) of all shares validly tendered or exchanged
and not withdrawn as of the Expiration Time (the shares deemed so accepted, up to any such maximum, being referred to as the “Purchased Shares”) and (y) the product of the number of shares of Class A Common Stock outstanding (less
any Purchased Shares) at the Expiration Time and the Market Price on the Trading Day next succeeding the Expiration Time, and the denominator shall be the number of shares of Class A Common Stock outstanding (including any Purchased Shares) at the
Expiration Time multiplied by the Market Price on the Trading Day next succeeding the Expiration Time, such increase to become effective immediately prior to the opening of business on the day following the Expiration Time. 
  

 72 

 SECTION 11.11. Adjustments for Fair Market Value. With regards to the adjustments
to the Conversion Rates referred to in Sections 11.07 to 11.10 above, in cases where the fair market value of assets, debt securities or certain rights, warrants or options to purchase the Company’s securities distributed to its stockholders
(a) equals or exceeds the Sale Price of the Class A Common Stock, or (b) the Sale Price of the Class A Common Stock exceeds the fair market value of such assets, debt securities or rights, warrants or options so distributed by less than $1.00,
rather than being entitled to an adjustment to the conversion rate, the Holder will be entitled to receive upon conversion, in addition to the shares of the Class A Common Stock, the kind and amount of assets, debt securities or rights, warrants or
options comprising the distribution that such Holder would have received if such Holder had converted such Holder’s Securities immediately prior to the record date for determining the stockholder’s entitled to receive such distribution.

  
 SECTION 11.12. When Adjustments May Be
Deferred. No adjustment to the Conversion Rate need be made unless the adjustment would require an increase or decrease of at least 1% in the Conversion Rate. Any adjustments that are not made by reason of the preceding sentence shall be carried
forward and taken into account in any subsequent adjustment. 
  
 All calculations under this Article 11 shall be made to the nearest cent or to the nearest  1/1,000th of a share, as the case may be. 
  
 SECTION 11.13. When No Adjustment Required. No adjustment need be made for rights to purchase Class A Common Stock pursuant to a Company plan for reinvestment of dividends or interest. 
  
 No adjustment need be made for a change in the par value or to no par value
of the Common Stock. 
  
 To the extent the Securities become
convertible pursuant to this Article 11 into cash, no adjustment need be made thereafter as to the cash. Interest will not accrue on the cash. 
  
 SECTION 11.14. Notice of Adjustment. Whenever the Conversion Rate is adjusted, the Company shall promptly mail to Securityholders a
notice of the adjustment. The Company shall file with the Trustee and the Conversion Agent such notice and a certificate from the Company’s independent public accountants briefly stating the facts requiring the adjustment and the manner of
computing it. The certificate shall be conclusive evidence that the adjustment is correct. Neither the Trustee nor any Conversion Agent shall be under any duty or responsibility with respect to any such certificate except to exhibit the same to any
Holder desiring inspection thereof. 
  
 SECTION
11.15. Voluntary Increase. The Company from time to time may increase the Conversion Rate by any amount for any period of time. Whenever the 

  

 73 

 
Conversion Rate is increased, the Company shall mail to Securityholders and file with the Trustee and the Conversion Agent a notice of the increase. The
Company shall mail the notice at least 15 days before the date the increased Conversion Rate takes effect. The notice shall state the increased Conversion Rate and the period it will be in effect. 
  
 A voluntary increase of the Conversion Rate does not change or adjust the
Conversion Rate otherwise in effect for purposes of Section 11.06, 11.07, 11.08, 11.09 or 11.10. 
  
 SECTION 11.16. Notice of Certain Transactions. If: 
  
 (1) the Company takes any action that would require an adjustment in the Conversion Rate pursuant to Section
11.06, 11.07 or 11.08 (unless no adjustment is to occur pursuant to Section 11.12); or 
  
 (2) the Company takes any action that would require a supplemental indenture pursuant to Section 11.16; or 
  
 (3) there is a liquidation or dissolution of the Company;

  
 then the Company shall mail to Securityholders and file with the Trustee and
the Conversion Agent a notice stating the proposed record date for a dividend or distribution or the proposed effective date of a subdivision, combination, reclassification, consolidation, merger, binding share exchange, transfer, liquidation or
dissolution. The Company shall file and mail the notice at least 15 days before such date. Failure to file or mail the notice or any defect in it shall not affect the validity of the transaction. 
  
 SECTION 11.17. Reorganization of Company; Special
Distributions. If any of the following events occur, namely (i) any reclassification or change of the outstanding shares of Class A Common Stock (other than a subdivision or combination to which Section 11.06(3) applies), (ii) any consolidation,
merger or combination of the Company with another Person as a result of which holders of Class A Common Stock shall be entitled to receive stock, other securities or other property or assets (including cash) with respect to or in exchange for such
Class A Common Stock, or (iii) any sale or conveyance of all or substantially all of the properties and assets of the Company to any other Person as a result of which holders of Class A Common Stock shall be entitled to receive stock, other
securities or other property or assets (including cash) with respect to or in exchange for such Class A Common Stock, then the Company or the successor or purchasing Person, as the case may be, shall execute with the Trustee a supplemental indenture
(which shall comply with the TIA as in force at the date of execution of such supplemental indenture) providing that each Security shall be convertible into the kind and amount of shares of stock, other securities or other property or assets
(including cash) receivable upon such reclassification, change, consolidation, merger, combination, sale or conveyance by a holder of a number of 

  

 74 

 
shares of Class A Common Stock issuable upon conversion of such Securities (assuming, for such purposes, a sufficient number of authorized shares of Class A
Common Stock are available to convert all such Securities) immediately prior to such reclassification, change, consolidation, merger, combination, sale or conveyance assuming such holder of Class A Common Stock did not exercise its rights of
election, if any, as to the kind or amount of stock, other securities or other property or assets (including cash) receivable upon such reclassification, change, consolidation, merger, combination, sale or conveyance (provided that, if the kind or
amount of stock, other securities or other property or assets (including cash) receivable upon such reclassification, change, consolidation, merger, combination, sale or conveyance is not the same for each share of Class A Common Stock in respect of
which such rights of election shall not have been exercised (“non-electing share”), then for the purposes of this Section 11.16 the kind and amount of stock, other securities or other property or assets (including cash) receivable upon
such reclassification, change, consolidation, merger, combination, sale or conveyance for each non-electing share shall be deemed to be the kind and amount so receivable per share by a plurality of the non-electing shares). Such supplemental
indenture shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article 11. 
  
 The Company shall cause notice of the execution of such supplemental indenture to be mailed to each Holder of Securities, at its address appearing on the
Security register, within twenty (20) days after execution thereof and shall issue a press release containing such information and publish such information on its website on the World Wide Web. Failure to deliver such notice shall not affect the
legality or validity of such supplemental indenture. 
  
 The above
provisions of this Section shall similarly apply to successive reclassifications, changes, consolidations, mergers, combinations, sales and conveyances. 
  
 If this Section applies, neither Section 11.06 nor 11.07 applies. 
  
 If the Company makes a distribution to all holders of its Class A Common Stock of any of its assets, or debt securities or
any rights, warrants or options to purchase securities of the Company that, but for the provisions of the last paragraph of Section 11.08, would otherwise result in an adjustment in the Conversion Rate pursuant to the provisions of Section
11.08, then, from and after the record date for determining the holders of Class A Common Stock entitled to receive the distribution, a Holder of a Security that converts such Security in accordance with the provisions of this Indenture shall
upon such conversion be entitled to receive, in addition to the shares of Class A Common Stock into which the Security is convertible, the kind and amount of securities, cash or other assets comprising the distribution that such Holder would have
received if such Holder had converted the Security immediately prior to the record date for determining the holders of Class A Common Stock entitled to receive the distribution. 
  

 75 

 SECTION 11.18. Company Determination Final. Any determination that the Company or
the Board of Directors must make pursuant to Section 11.03, 11.06, 11.07, 11.08, 11.09, 11.10, 11.11, 11.12, 11.16 or 11.19 is conclusive. 
  
 SECTION 11.19. Trustee’s Adjustment Disclaimer.
The Trustee has no duty to determine when an adjustment under this Article 11 should be made, how it should be made or what it should be. The Trustee has no duty to determine whether a supplemental indenture under Section 11.16 need be
entered into or whether any provisions of any supplemental indenture are correct. The Trustee shall not be accountable for and makes no representation as to the validity or value of any securities or assets issued upon conversion of Securities. The
Trustee shall not be responsible for the Company’s failure to comply with this Article 11 11. Each Conversion Agent shall have the same protection under this Section 11.18 as the Trustee. 
  
 SECTION 11.20. Simultaneous Adjustments. In the event
that this Article 11 requires adjustments to the Conversion Rate under more than one of Sections 11.07, 11.08 or 11.09, and the record dates for the distributions giving rise to such adjustments shall occur on the same date, then such
adjustments shall be made by applying, first, the provisions of Section 11.09, second, the provisions of Section 11.08 and, third, the provisions of Section 11.07. 
  
 SECTION 11.21. Successive Adjustments. After an adjustment to the Conversion Rate under this Article
11, any subsequent event requiring an adjustment under this Article 11 shall cause an adjustment to the Conversion Rate as so adjusted. 
  
 SECTION 11.22. Rights Issued in Respect of Class A Common Stock Issued upon Conversion. Each share of Class A Common Stock issued
upon conversion of Securities pursuant to this Article 11 shall be entitled to receive the appropriate number of Class A Common Stock or preferred stock purchase rights, as the case may be (the “Rights”), if any, and the
certificates representing the Class A Common Stock issued upon such conversion shall bear such legends, if any, in each case as may be provided by the terms of any shareholder rights agreement adopted by the Company, as the same may be amended from
time to time (in each case, a “Rights Agreement”). Provided that such Rights Agreement requires that each share of Class A Common Stock issued upon conversion of Securities at any time prior to the distribution of separate
certificates representing the Rights be entitled to receive such Rights, then, notwithstanding anything else to the contrary in this Article 11, there shall not be any adjustment to the conversion privilege or Conversion Rate as a result of
the issuance of Rights, the distribution of separate certificates representing the Rights, the exercise or redemption of such Rights in accordance with any such Rights Agreement, or the termination or invalidation of such Rights. If the Rights
separate from the Class A Common Stock, at the time of such separation the Conversion Rate shall be adjusted as provided in Section 11.07 as if the Company had at that time distributed the separated Rights. 
  

 76 

 ARTICLE 12 
  
 SUBORDINATION 
  
 SECTION 12.01. Agreement to Subordinate. The Debt evidenced by the Securities is subordinated in right of payment, to the extent and
in the manner provided in the Indenture, to the prior payment of all Senior Debt. The subordination provisions are for the benefit of and enforceable by the holders of Senior Debt. 
  
 Notwithstanding the foregoing, the Securities shall rank pari passu to (i) the Company’s Convertible
Subordinated Debentures due 2020 and to (ii) the Company’s Zero-Coupon Convertible Senior Subordinated Debentures due 2022. 
  
 SECTION 12.02. Liquidation, Dissolution, Bankruptcy. Upon any payment or distribution of the assets of the Company to creditors upon
a total or partial liquidation or a total or partial dissolution of the Company or in a bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the Company or its property: 
  
 (1) holders of Senior Debt are entitled to receive payment
in full in cash of all Obligations in respect of Senior Debt, including all interest accrued or accruing on Senior Debt after the commencement of any bankruptcy, insolvency or reorganization or similar case or proceeding at the contract rate
(including, without limitation, any contract rate applicable upon default) specified in the relevant documentation, whether or not the claim for the interest is allowed as a claim in the case or proceeding with respect to the Senior Debt (only such
payment constituting “payment in full”) before Securityholders will be entitled to receive any payment of principal of or interest on the Securities; and 
  
 (2) until the Senior Debt is paid in full and payment has been made to the Trustee for amounts due under
Section 7.06, any distribution to which Securityholders would be entitled but for these subordination provisions shall instead be made to holders of Senior Debt and the Trustee as their interests may appear. 
  
 SECTION 12.03. Default on Designated Senior Debt. (a)
The Company shall not pay the principal of or interest on the Securities or make any deposit pursuant to the provisions of Article 8 and shall not, pursuant to the provisions of Article 3 or otherwise, repurchase, redeem or otherwise retire
any Securities (collectively, “pay the Securities”) if at the time any Designated Senior Debt has not been paid when due, whether at maturity, upon redemption or mandatory repurchase, acceleration, or otherwise, and the default has
not been cured or waived. 
  
 (b) During the continuance of any
other default with respect to any Designated Senior Debt pursuant to which the maturity thereof may be accelerated 

  

 77 

 
immediately without further notice (except any notice that may be required to effect acceleration) or upon the expiration of a grace period, the Company may
not pay the Securities for a period (a “Payment Blockage Period”) 
  
 (1) commencing upon the receipt by the Company and the Trustee of written notice of default from the holders of any Designated Senior Debt
specifying an election to effect a Payment Blockage Period (a “Blockage Notice”) and 
  
 (2) ending 179 days thereafter (or earlier if the Payment Blockage Period is terminated (i) by written notice to the Trustee and the
Company from the Person that gave the Blockage Notice, (ii) by repayment in full of such Senior Debt or (iii) because the default giving rise to the Blockage Notice is no longer continuing). 
  
 Subject to the preceding paragraph, unless the holders of such Senior Debt have accelerated
the maturity of such Senior Debt, the Company may resume payments on the Securities after the Payment Blockage Period. 
  
 (c) Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to Senior Debt
during such period. No default which existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Senior Debt whose holders initiated the Payment Blockage Period may be made the basis of the
commencement of a subsequent Payment Blockage Period by the holders of such Senior Debt, whether or not within a period of 360 consecutive days, unless the default has been cured or waived for a period of not less than 90 consecutive days.

  
 SECTION 12.04. When Distribution Must Be
Paid Over. If a payment or other distribution is made to Securityholders that because of these subordination provisions should not have been made to them, the Securityholders that receive the distribution shall hold it in trust for holders of
Senior Debt and pay it over to them as their interests may appear. 
  
 SECTION 12.05. Subrogation. A distribution made under these subordination provisions to holders of Senior Debt which otherwise would have been made to Securityholders is not, as between the Company and Securityholders,
a payment by the Company on Senior Debt. After all Senior Debt is paid in full and until the Securities are paid in full, Securityholders will be subrogated to the rights of holders of Senior Debt to receive payments in respect of Senior Debt,
which, to the extent received by Securityholders, do not constitute, as between the Company and the Securityholders, payments by the Company on the Securities. 
  

SECTION 12.06. Relative Rights; Subordination Not to Prevent Events of Default or Limit Right to Accelerate. These subordination
provisions define the relative rights of Securityholders and holders of Senior Debt and do not impair, as between the Company and Securityholders, the obligation of the Company, which 

  

 78 

 
is absolute and unconditional, to pay principal of and interest on the Securities in accordance with their terms. The failure to make a payment pursuant to
the Securities by reason of these subordination provisions does not prevent the occurrence of a Default, nor do these subordination provisions have any effect on the right of the Securityholders or the Trustee to accelerate the maturity of the
Securities upon an Event of Default or prevent the Trustee or any Securityholder from exercising its available remedies upon a Default, subject to the rights of holders of Senior Debt to receive distributions otherwise payable to Securityholders.

  
 SECTION 12.07. Subordination May Not Be
Impaired by Company. No right of any holder of Senior Debt to enforce the subordination of the Securities will be impaired by any act or failure to act by the Company or by its failure to comply with the Indenture. 
  
 SECTION 12.08. Rights of Trustee. (a) The Trustee may
continue to make payments on the Securities and will not be charged with knowledge of the existence of facts that would prohibit the making of any such payments unless, not less than two Business Days prior to the date of such payment, the Trustee
receives notice satisfactory to it from the Company or a holder of Senior Debt that payments may not be made under this Article. 
  
 (b) The Trustee in its individual or any other capacity may hold Senior Debt with the same rights, including rights under this Article, it would have if
it were not Trustee. Nothing in this Article applies to claims of, or payments to, the Trustee under or pursuant to Section 7.06. 
  
 SECTION 12.09. Distributions and Notices to, and Notices and Consents by, Representatives of Holders of Senior Debt. Whenever a
distribution is to be made or a notice given to holders of Senior Debt, the distribution may be made and the notice given to their representative (if any). If there is a representative acting for the holders of any Senior Debt pursuant to the
agreements governing such Senior Debt, notices or consents under the Indenture from holders of such Senior Debt may be given only by their representative. 
  
 SECTION 12.10. Trustee Entitled to Rely. For the purpose of ascertaining the outstanding amount of Senior Debt, the holders thereof,
and all other information relevant to making any payment or distribution to holders of Senior Debt pursuant to this Article, the Trustee and the Securityholders are entitled to rely upon an order or decree of a court of competent jurisdiction in
which any proceedings of the nature referred to in Section 12.02 are pending, a certificate of the liquidating trustee or other Person making a payment or distribution to the Trustee or to the Securityholders, or information provided by the
holders of Senior Debt. The Trustee may defer any payment or distribution pending receipt of evidence or instructions satisfactory to it or a judicial determination regarding the rights of parties to receive the payment or distribution. 

 

 79 

 SECTION 12.11. Trustee to Effectuate Subordination. Each Securityholder by
accepting a Security authorizes and directs the Trustee on behalf of the Securityholder to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination between the Securityholders and the holders of Senior Debt
as provided in this Article and appoints the Trustee as attorney-in-fact for any and all such purposes, including for the purpose of filing a claim in any proceedings of the nature referred to in Section 12.02. 
  
 SECTION 12.12. Trustee Not Fiduciary for Holders of Senior
Debt. The Trustee will not be deemed to owe any fiduciary duty to the holders of Senior Debt and will not be liable to any such holders if it mistakenly pays over or distributes to Securityholders, or to the Company or any other Person, any
money or assets to which holders of Senior Debt are entitled by virtue of this Article. 
  
 SECTION 12.13. Reliance by Holder of Senior Debt on Subordination Provisions; No Waiver. (a) Each Securityholder by accepting a Security acknowledges and agrees that these subordination
provisions are, and are intended to be, an inducement and a consideration to each holder of Senior Debt, whether created or acquired before or after the issuance of the Securities, to acquire or to hold such Senior Debt, and each holder of Senior
Debt will be deemed conclusively to have relied on these subordination provisions in acquiring and holding such Senior Debt. 
  
 (b) The holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the Trustee or the Securityholders, without
incurring any liability or responsibility to the Securityholders, and without impairing the rights of holders of Senior Debt under these subordination provisions, do any of the following: 
  
 (1) change the manner, place or terms of payment or extend
the time of payment of, or renew or alter, Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding or secured; 
  
 (2) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing
Senior Debt; 
  
 (3) release any Person liable in
any manner for the payment of Senior Debt; or 
  
 (4) exercise or refrain from exercising any rights against the Company and any other Person. 
  

 80 

 ARTICLE 13 
  
 MISCELLANEOUS 
  
 SECTION 13.01. Trust Indenture Act Controls. If any provision of this Indenture limits, qualifies, or conflicts with another
provision which is required to be included in this Indenture by the TIA, the required provision shall control. 
  
 SECTION 13.02. Notices. Any request, demand, authorization, notice, waiver, consent or communication shall be in writing and
delivered in person or mailed by first-class mail, postage prepaid, addressed as follows or transmitted by facsimile transmission (confirmed by guaranteed overnight courier) to the following facsimile numbers: 
  
 if to the Company: 
  
 Health Management Associates, Inc. 
 5811 Pelican Bay Boulevard 
 Suite 500 
 Naples, Florida 34108-2710 
  
 Telephone No. (941) 598-3051 
 Facsimile No. (941) 596-1426 
 Attention: Robert E. Farnham, Chief Financial Officer 
 With a Copy to: Timothy R. Parry,
Senior Vice President and 
 General Counsel 
  
 if to the Trustee: 
  
 Wachovia Bank, National Association 
 200 South Biscayne Boulevard, 14th Fl. 
 Miami, Florida 33131 
  
 Telephone No. (305) 789-4684 
 Facsimile No. (305) 789-4678 
 Attn: Corporate Trust Group 
  
 The Company or the Trustee by notice given to the other in the manner provided above may designate additional or different addresses for subsequent notices or communications. 
  
 Any notice or communication given to a Securityholder shall be mailed to the Securityholder, by first-class mail, postage
prepaid, at the Securityholder’s address as it appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. 
  
 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 

  

 81 

 
or communication is mailed in the manner provided above, it is duly given, whether or not received by the addressee. 
  
 If the Company mails a notice or communication to the Securityholders, it
shall mail a copy to the Trustee and each Registrar, Paying Agent, Conversion Agent or co-registrar. 
  
 SECTION 13.03. Communication 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, the Paying Agent, the Conversion Agent and anyone else shall have the protection of TIA Section 312(c). 

 
 SECTION 13.04. Certificate and Opinion as to Conditions
Precedent. Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee: 
  

(1) an Officers’ Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this
Indenture relating to the proposed action have been complied with; and 
  
 (2) an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 
  

SECTION 13.05. Statements Required in Certificate or Opinion. Each Officers’ Certificate or Opinion of Counsel with respect
to compliance with a covenant or condition provided for in this Indenture shall include: 
  
 (1) a statement that each person making such Officers’ Certificate or Opinion of Counsel has read such covenant or condition;

  
 (2) a brief statement as to the nature and
scope of the examination or investigation upon which the statements or opinions contained in such Officers’ Certificate or Opinion of Counsel are based; 
  

(3) a statement that, in the opinion of each such person, he has made such examination or investigation as is necessary to enable such
person to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
  
 (4) a statement that, in the opinion of such person, such covenant or condition has been complied with. 
  
 SECTION 13.06. Separability Clause. In case any
provision 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. 
  

 82 

 SECTION 13.07. Rules by Trustee, Paying Agent, Conversion Agent and Registrar. The
Trustee may make reasonable rules for action by or a meeting of Securityholders. The Registrar, Conversion Agent and the Paying Agent may make reasonable rules for their functions. 
  
 SECTION 13.08. Legal Holidays. A “Legal Holiday” is any day other than a Business
Day. If any specified date (including a date for giving notice) is a Legal Holiday, the action shall be taken on the next succeeding day that is not a Legal Holiday, and, if the action to be taken on such date is a payment in respect of the
Securities, no interest, if any, shall accrue for the intervening period. 
  
 SECTION 13.09. GOVERNING LAW. THIS INDENTURE AND THE SECURITIES WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  
 SECTION 13.10. No Recourse Against Others. A director,
officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the Securities or this Indenture or for any claim based on, in respect of or by reason of such obligations or their
creation. By accepting a Security, each Securityholder shall waive and release all such liability. The waiver and release shall be part of the consideration for the issue of the Securities. 
  
 SECTION 13.11. 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 13.12. Multiple Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an
original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. 
  

 83 

 IN WITNESS WHEREOF, the undersigned, being duly authorized, have executed this indenture on behalf of the
respective parties hereto as of the date first above written. 
  

	 HEALTH MANAGEMENT ASSOCIATES, INC.

		
	 By:
	 	 /S/    TIMOTHY R. PARRY

	 	 	 Name:
	 	 Timothy R. Parry

	 	 	 Title:
	 	 Senior Vice President

	
	  
 WACHOVIA BANK, NATIONAL ASSOC.

		
	 By:
	 	 /S/    EDNORA G. LINARES

	 	 	 Name:
	 	 Ednora G. Linares

	 	 	 Title:
	 	 Vice President

 EXHIBIT A-1 
  
 [FORM OF FACE OF GLOBAL SECURITY] 
  
 FOR PURPOSES OF SECTIONS 1272, 1273 AND 1275 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, THIS SECURITY IS BEING ISSUED WITH ORIGINAL ISSUE DISCOUNT
AND THE ISSUE DATE OF THIS SECURITY IS JULY 29, 2003. IN ADDITION, THIS SECURITY IS SUBJECT TO UNITED STATES FEDERAL INCOME TAX REGULATIONS GOVERNING CONTINGENT PAYMENT DEBT INSTRUMENTS. FOR PURPOSES OF SECTIONS 1272, 1273 AND 1275 OF THE INTERNAL
REVENUE CODE, THE COMPARABLE YIELD OF THIS SECURITY IS 6.60%, COMPOUNDED SEMI-ANNUALLY (WHICH WILL BE TREATED AS THE YIELD TO MATURITY FOR UNITED STATES FEDERAL INCOME TAX PURPOSES). A HOLDER MAY OBTAIN THE ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE
DISCOUNT, ISSUE DATE, YIELD TO MATURITY, COMPARABLE YIELD AND PROJECTED PAYMENT SCHEDULE FOR THE SECURITY, AS DETERMINED BY THE COMPANY PURSUANT TO TREASURY REGULATION SECTION 1.1275-4 OR ANY SUCCESSOR PROVISION, BY SUBMITTING A WRITTEN REQUEST TO
THE COMPANY AT THE FOLLOWING ADDRESS: 5811 PELICAN BAY BOULEVARD, SUITE 500, NAPLES, FLORIDA, 34108-2710, ATTENTION: ROBERT E. FARNHAM, SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER. 
  
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE ISSUER 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. 
  
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF THE DEPOSITORY TRUST COMPANY, OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL
SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN ARTICLE TWO OF THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
  

 A-1-1 

 THIS SECURITY AND THE SHARES OF CLASS A COMMON STOCK ISSUABLE UPON CONVERSION OF THIS SECURITY HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. NEITHER THIS SECURITY, THE SHARES OF CLASS A COMMON STOCK ISSUABLE UPON CONVERSION OF THIS SECURITY NOR ANY INTEREST OR
PARTICIPATION HEREIN OR THEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION. 

 
 THE HOLDER AND EACH SUBSEQUENT HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE
HEREOF, AGREES TO OFFER, SELL, OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”), WHICH IS TWO YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH HEALTH
MANAGEMENT ASSOCIATES, INC. (THE “COMPANY”) OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY) ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) FOR SO LONG AS THIS SECURITY AND THE
SHARES OF CLASS A COMMON STOCK ISSUABLE UPON CONVERSION OF THIS SECURITY ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES
ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHICH NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (C) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED
EFFECTIVE UNDER THE SECURITIES ACT, (D) IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT
TO THE COMPANY’S AND THE TRUSTEE’S RIGHTS PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (D) OR (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND IN
EACH OF THE FOREGOING CASES, A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE OTHER SIDE OF THIS SECURITY IS COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE
RESTRICTION TERMINATION DATE. 
  

 A-1-2 

 THE LAST TWO PARAGRAPHS OF THE FOREGOING LEGEND MAY BE REMOVED FROM THIS SECURITY ONLY UPON SATISFACTION
OF THE CONDITIONS SPECIFIED IN THE INDENTURE. 
  

 A-1-3 

 HEALTH MANAGEMENT ASSOCIATES, INC. 
 1.50% Convertible Senior Subordinated Notes due 2023 
  

	 No. R-1
	 	 CUSIP: 421933 AE 2
 ISIN:US421933 AE 20

	 Issue Date: July 29, 2003
	 	 
	 Principal Amount: $500,000,000
	 	 

  
 HEALTH MANAGEMENT
ASSOCIATES, INC., a Delaware corporation, promises to pay to Cede & Co. or registered assigns, the principal amount of FIVE HUNDRED MILLION DOLLARS ($500,000,000) on August 1, 2023. 
  
 This Security shall bear interest as specified on the reverse of this Security. This Security is convertible as specified on
the reverse of this Security. 
  
 Additional provisions of this
Security are set forth on the reverse of this Security. 
  

	 Dated: July 29, 2003
	 	 HEALTH MANAGEMENT ASSOCIATES, INC.

			
	 	 	 By
	 	  

	 	 	 	 	 Title:

  
 TRUSTEE’S CERTIFICATE OF 
 AUTHENTICATION 
  
 WACHOVIA BANK, NATIONAL ASSOCIATION, 
 as Trustee, certifies that this 
 is one of the Securities referred 
 to in the within-mentioned Indenture (as 
 defined on the other side of this Security). 
  

	 By

	 	 	Authorized Signatory
		
	 Dated:
	 	  

  

 A-1-4 

 REVERSE OF SECURITY 
 1.50% Convertible Senior Subordinated Notes due 2023 
  
 1. Interest. 
  
 Interest, shall accrue from July 29,
2003 or the most recent date to which interest has been paid or duly provided for, at 1.50% per annum on the principal sum hereof, using a 360-day year composed of twelve 30-day months, from the Issue Date of this Security. The Company shall pay
interest in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, semi-annually in arrears on February 1 and August 1 of each year, beginning on February 1,
2004, to Holders of record as of the immediately preceding January 15 or July 15, as the case may be. Interest on any Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in
whose name that Security is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose. The Company shall pay interest (i) on any Securities in certificated
form by check mailed to the address of the Person entitled thereto as it appears in the register of the Registrar or (ii) on any Global Securities by wire transfer of immediately available funds to the account of the Depositary or its nominee.

  
 The Company shall pay interest on overdue principal, or if
shares of Class A Common Stock (or cash in lieu of fractional shares) in respect of a conversion of this Security in accordance with the terms of Article 11 of the Indenture are not delivered when due, at the rate borne by the Securities plus
1% per annum, and it shall pay interest in cash on overdue installments of interest at the same rate to the extent lawful. All such overdue interest shall be payable on demand. 
  
 Except as otherwise specified with respect to the Securities, any Defaulted Interest on any Security shall forthwith cease
to be payable to the registered Holder thereof on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company as provided for in Section 10.01(b) of the Indenture. 

 
 2. Method of Payment. 
  
 Subject to the terms and conditions of the Indenture, the Company will make payments in respect of the principal of,
premium, if any, and interest on this Security and in respect of Redemption Prices, Purchase Prices and Fundamental Change Purchase Prices to Holders who surrender Securities to a Paying Agent to collect such payments in respect of the Securities.
The Company will pay cash amounts in money of the United States that at the time of payment is legal tender for payment of public and private debts. However, the Company may make such 

  

 A-1-5 

 
cash payments by check payable in such money. Any payment required to be made on any day that is not a Business Day will be made on the next succeeding
Business Day. 
  
 3. Paying Agent, Conversion Agent and Registrar. 
  
 Initially, Wachovia Bank, National Association, a national banking
association having an office in Miami, Florida (in such capacity, together with its successors in trust, the “Trustee”), will act as Paying Agent, Conversion Agent and Registrar. The Company may appoint and change any Paying Agent,
Conversion Agent, Registrar or co-registrar without notice, other than notice to the Trustee except that the Company will maintain at least one Paying Agent in the State of New York, City of New York, Borough of Manhattan, which shall initially be
an office or agency of the Trustee. The Company or any of its Subsidiaries or any of their Affiliates may act as Paying Agent, Conversion Agent, Registrar or co-registrar. 
  
 4. Indenture. 
  
 The Company issued the Securities under an Indenture dated as of July 29, 2003 (the “Indenture”), between the Company and the Trustee. The terms
of the Securities include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as in effect from time to time (the “TIA”). Capitalized terms used herein and not defined herein
have the meanings ascribed thereto in the Indenture. The Securities are subject to all such terms, and Securityholders are referred to the Indenture and the TIA for a statement of those terms. 
  
 The Securities are general unsecured obligations of the Company limited to
$500,000,000 aggregate principal amount (up to $575,000,000 if the initial purchasers exercise their option in full) (subject to Section 2.07 of the Indenture). The Indenture does not limit other indebtedness of the Company, secured or
unsecured. 
  
 5. Redemption at the Option of the Company. 
  
 No sinking fund is provided for the Securities. The Securities are
redeemable as a whole, or from time to time in part, at any time at the option of the Company at a Redemption Price equal to 100% of principal plus accrued and unpaid interest, including contingent interest, if any, and Liquidated Damages, if any,
to the Redemption Date; provided that the Securities are not redeemable prior to August 5, 2008. 
  
 6. Purchase by the Company at the Option of the Holder. 
  
 Subject to the terms and conditions of the Indenture, the Company shall become obligated to purchase, at the option of the Holder, the Securities held by 

  

 A-1-6 

 
such Holder on August 1, 2006, August 1, 2008, August 1, 2013 and August 1, 2018 (each, a “Purchase Date”) and at a Purchase Price equal to
100% of principal amount, plus accrued and unpaid interest, including contingent interest, if any, and Liquidated Damages, if any, to the Purchase Date upon delivery of a Purchase Notice containing the information set forth in the Indenture, at any
time from the opening of business on the date that is 20 Business Days prior to such Purchase Date until the close of business on the Business Day prior to the Purchase Date and upon delivery of the Securities to the Paying Agent by the Holder as
set forth in the Indenture. 
  
 The Purchase Price may be paid, at
the option of the Company, in cash or shares of Class A Common Stock or any combination thereof, except that the Purchase Price may only be paid in cash for any purchase of Securities on the August 1, 2006 Purchase Date. 
  
 Holders have the right to withdraw any Purchase Notice by delivering to the
Paying Agent a written notice of withdrawal in accordance with the provisions of the Indenture. 
  
 Holders will not have the right to require the Company to purchase any Securities on a Purchase Date if the Company has given notice of its redemption of
such Securities prior to the date 20 Business Days prior to such Purchase Date. 
  
 If cash (and/or securities if permitted under the Indenture) sufficient to pay the Purchase Price of all Securities or portions thereof to be purchased as of the Purchase Date is deposited with the Paying Agent on the
Business Day following the Purchase Date, such Securities will cease to be outstanding and interest shall cease to accrue on such Securities (or portions thereof) and will be deemed paid immediately after such Purchase Date whether or not such
Securities have been delivered to the Paying Agent, and the Holder thereof shall have no other rights as such (other than the right to receive the Purchase Price upon surrender of such Security). 
  
 7. Purchase by the Company upon Fundamental Change.

  
 At the option of the Holder and subject to the terms and
conditions of the Indenture, the Company shall become obligated to purchase all or a portion of the Securities held by such Holder on or before the 35th day after the date of the Fundamental Change Notice of the Company for a Fundamental Change
Purchase Price equal to the principal amount plus accrued and unpaid interest, including contingent interest, if any, and Liquidated Damages, if any, to the Fundamental Change Purchase Date. 
  
 The Fundamental Change Purchase Price may be paid, at the option of the
Company, in cash or shares of Class A Common Stock or any combination thereof. 
  

 A-1-7 

 Holders have the right to withdraw any Fundamental Change Purchase Notice by delivering to the Paying
Agent a written notice of withdrawal in accordance with the provisions of the Indenture. 
  
 If cash (and/or securities if permitted under the Indenture) sufficient to pay the Fundamental Change Purchase Price of all Securities or portions thereof to be purchased as of the Fundamental Change Purchase Date is
deposited with the Paying Agent on the Business Day following the Fundamental Change Purchase Date, as the case may be, such Securities will cease to be outstanding and interest shall cease to accrue on such Securities (or portions thereof) and will
be deemed paid immediately after such Fundamental Change Purchase Date whether or not such Securities have been delivered to the Paying Agent, and the Holder thereof shall have no other rights as such (other than the right to receive the Fundamental
Change Purchase Price upon surrender of such Security). 
  
 8. Notice of Redemption. 
  
 Notice of redemption will be mailed at least 30 days but not more than 60 days before the Redemption Date to each Holder of Securities to be redeemed at the Holder’s registered address. If money sufficient to pay the Redemption Price
of all Securities (or portions thereof) to be redeemed on the Redemption Date is deposited with the Paying Agent prior to or on the Redemption Date, such Securities (or portions thereof) shall cease to be outstanding and interest thereon shall cease
to accrue. Securities in denominations larger than $1,000 of principal amount may be redeemed in part but only in integral multiples of $1,000 of principal amount. 
  
 9. Conversion. 
  
 Subject to the procedures set forth in Section 11.02 of the Indenture, a Holder of a Security may convert it into Class A Common Stock of the Company at
any time before the close of business on August 1, 2023 if at least one of the following conditions is satisfied on the Conversion Date: 
  
 (a) during any fiscal quarter (and only during such fiscal quarter) after the quarter ending September 30, 2003, if the average of the Sale Prices for at
least 20 Trading Days during the period of 30 consecutive Trading Days ending on the last Trading Day of the previous calender quarter is equal to or greater than 130% of the Conversion Price on the Conversion Date; 
  
 (b) during any period in which (a) the long-term credit rating assigned to
the Securities by both Moody’s and Standard & Poor’s is lower than Ba1 and BB+, respectively or (b) both Moody’s and Standard & Poor’s no longer rate the Securities or have withdrawn their ratings with respect to the
Securities. 
  

 A-1-8 

 (c) the Securities have been called for redemption by the Company, at any time prior to the close of
business on the Business Day prior to the Redemption Date; 
  
 (d)
the Company becomes a party to a consolidation, merger or binding share exchange pursuant to which the Class A Common Stock would be converted into cash or property (other than securities), in which case a Holder may surrender Securities for
conversion at any time from and after the date which is 15 days prior to the anticipated effective date for the transaction until 15 days after the actual effective date of such transaction (or, if the transaction constitutes a Fundamental Change,
until the applicable Fundamental Change Purchase Date); or 
  
 (e)
the Company elects to (i) distribute to all Holders of Class A Common Stock assets, debt securities or rights to purchase securities of the Company, which distribution has a per share value as determined by the Company’s Board of Directors
exceeding 15% of the Sale Price of the Class A Common Stock on the day preceding the declaration date for such distribution or (ii) distribute to all Holders of Class A Common Stock rights entitling them to purchase, for a period expiring within 60
days after the date of such distribution, Class A Common Stock at less than the Sale Price at the time of such distribution. In the case of the foregoing clauses (i) and (ii), the Company must notify the Holders of Securities at least 20 days prior
to the ex-dividend date for such distribution. Once the Company has given such notice, Holders may surrender their Securities for conversion at any time thereafter until the earlier of the close of business on the Business Day prior to the
ex-dividend date or the Company’s announcement that such distribution will not take place. 
  
 If the Security is called for redemption, the Holder may convert it at any time before the close of business on the Business Day preceding Redemption
Date. A Security in respect of which a Holder has delivered a Purchase Notice or Fundamental Change Purchase Notice exercising the option of such Holder to require the Company to purchase such Security may be converted only if such notice of
exercise is withdrawn in accordance with the terms of the Indenture. 
  
 The initial Conversion Rate is 36.5097 shares of Class A Common Stock per $1,000 principal amount, subject to adjustment in certain events described in the Indenture. The Company will deliver cash or a check in lieu of any fractional share
of Class A Common Stock. Pursuant to Section 11.02 of the Indenture, upon conversion the Company may elect to deliver cash in lieu of all or any portion of such Class A Common Stock. 
  
 Securities surrendered for conversion during the period from the close of business on any Regular Record Date next preceding
any Interest Payment Date to the opening of business of such Interest Payment Date (except Securities to be redeemed on a date within such period or on the next Interest Payment Date) must be accompanied by payment of an amount equal to the interest
thereon that the registered Holder is to receive, provided, however, that no such payment need be 

  

 A-1-9 

 
made if (a) the Company has specified a Redemption Date that is after a Regular Record Date and on or prior to the Next Interest Payment Date, (b) the
Company has specified a Fundamental Change Purchase Date that is during such period or (c) only to the extent of overdue interest, any overdue interest exists at the time of conversion with respect to such Security. Except where Securities
surrendered for conversion must be accompanied by payment as described above, no interest on converted Securities will be payable by the Company on any Interest Payment Date subsequent to the date of conversion. 
  
 To convert a Security, a Holder must (1) complete and manually sign the
conversion notice below (or complete and manually sign a facsimile of such notice) and deliver such notice to the Conversion Agent, (2) surrender the Security to the Conversion Agent, (3) furnish appropriate endorsements and transfer documents if
required by the Conversion Agent, the Company or the Trustee, (4) make any payments required by the preceding paragraph and (5) pay any stamp, transfer or similar tax due because the Holder requests shares to be issued to a person other than the
Holder. With respect to Global Securities, a Holder must comply with the last three items specified above and comply with the appropriate procedures of the Depositary. 
  
 A Holder may convert a portion of a Security if the principal amount of such portion is $1,000 or an integral multiple of
$1,000. No payment or adjustment will be made for dividends on the Class A Common Stock except as provided in the Indenture. On conversion of a Security, that portion of (except as provided below) accrued interest attributable to the period from the
Issue Date or the date on which interest was last paid through the Conversion Date with respect to the converted Security shall not be cancelled, extinguished or forfeited, but rather shall be deemed to be paid in full to the Holder thereof through
the delivery of the Class A Common Stock (together with the cash payment, if any, in lieu of fractional shares) or cash in lieu thereof in exchange for the Security being converted pursuant to the terms hereof; and the fair market value of such
shares of Class A Common Stock (together with any such cash payment in lieu of fractional shares) shall be treated as issued, to the extent thereof, first in exchange for interest accrued through the Conversion Date, and the balance, if any, of such
fair market value of such Common Stock (and any such cash payment) shall be treated as issued in exchange for the principal amount of the Security being converted pursuant to the provisions hereof. Notwithstanding the foregoing, accrued but unpaid
interest will be payable upon conversion of Securities made concurrently with or after acceleration of Securities following an Event of Default. 
  
 The Conversion Rate is subject to adjustment at such times as specified in Sections 11.06 through 11.10 of the Indenture. 
  
 If the Company reclassifies the Class A Common Stock or is a party to a
consolidation, merger or binding share exchange or a transfer of all or substantially all of its assets, or upon certain distributions described in the Indenture, the right to 

  

 A-1-10 

 
convert a Security into Class A Common Stock may be changed into a right to convert it into securities, cash or other assets of the Company or another
person. 
  
 10. Conversion Arrangement on Call
for Redemption. 
  
 Any Securities called for redemption, unless
surrendered for conversion before the close of business on the Redemption Date, may be deemed to be purchased from the Holders of such Securities at an amount not less than the Redemption Price, by one or more investment bankers or other purchasers
who may agree with the Company to purchase such Securities from the Holders, to convert them into Class A Common Stock of the Company and to make payment for such Securities to the Trustee in trust for such Holders. 
  
 11. Contingent Interest 
  
 Subject to the accrual and record date provisions specified in this
paragraph 11, the Company shall pay contingent interest to the Holders during the period from August 5, 2008 to January 31, 2009, and thereafter for any six-month interest period from August 1 to January 31 and from February 1 to July 31 (each, a
“Contingent Interest Period”), if the average Security Price for the Five-Day Period with respect to such Contingent Interest Period equals 120% or more of the principal amount thereof on the third Trading Day immediately preceding the
first day of the relevant Contingent Interest Period. 
  
 The
amount of contingent interest payable per $1,000 principal amount hereof in respect of any Contingent Interest Period shall equal 0.25% of the average Security Price for the Five-Day Period with respect to such Contingent Interest Period and such
contingent interest shall be paid on the Interest Payment Date immediately following the relevant Contingent Interest Period. Contingent interest, if any, will accrue and be payable to Holders as of the Regular Record Date immediately preceding the
applicable Interest Payment Date. 
  
 “Five-Day Period”
means, with respect to any Contingent Interest Period, the five Trading Days ending on the third Trading Day immediately preceding the first day of such Contingent Interest Period. 
  
 “Security Price” means, as of any date of determination, the average of the secondary market bid quotations per
$1,000 original principal amount obtained by the Bid Solicitation Agent for $5,000,000 original principal amount of Securities at approximately 4:00 p.m. (New York City time) on such determination date from three recognized securities dealers in The
City of New York (none of which shall be an Affiliate of the Company) selected by the Company; provided, however, if (a) at least three such bids are not obtained by the Bid Solicitation Agent or (b) in the Company’s reasonable judgment, the
bid quotations are not indicative of the secondary market value of the Securities as of such determination date, then the Security Price for such determination date shall equal (i) the Conversion Rate in effect as of such determination date
multiplied by (ii) the average Sale Price of the 

  

 A-1-11 

 
Class A Common Stock for the five Trading Days ending on such determination date, appropriately adjusted to take into account the occurrence, during the
period commencing on the first of such Trading Days during such five Trading Day period and ending on such determination date, of any event described in Section 11.06 through 11.10 of the Indenture. 
  
 Upon determination that Holders will be entitled to receive contingent
interest which may become payable during a Contingent Interest Period, on or prior to the first day of such Contingent Interest Period, the Company shall issue a press release and publish such information on its web site at www.hma-corp.com (or
other successor web site address) or such other media as the Company shall determine. 
  
 12. Denominations; Transfer; Exchange. 
  
 The Securities are in fully registered form, without coupons, in denominations of $1,000 of principal amount and integral multiples of $1,000. A Holder
may transfer or exchange Securities in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by
the Indenture. The Registrar need not transfer or exchange any Securities selected for redemption (except, in the case of a Security to be redeemed in part, the portion of the Security not to be redeemed) or any Securities in respect of which a
Purchase Notice or Fundamental Change Purchase Notice has been given and not withdrawn (except, in the case of a Security to be purchased in part, the portion of the Security not to be purchased) or any Securities for a period of 15 days before the
mailing of a notice of redemption of Securities to be redeemed. 
  
 13. Persons Deemed Owners. 
  
 The registered Holder of this Security may be treated as the owner of this Security for all purposes. 
  
 14. Unclaimed Money or Securities. 
  
 The Trustee and the Paying Agent shall return to the Company upon written request any money or securities held by them for the payment of any amount with
respect to the Securities that remains unclaimed for two years, subject to applicable unclaimed property law. After return to the Company, Holders entitled to the money or securities must look to the Company for payment as general creditors unless
an applicable abandoned property law designates another person. 
  

 A-1-12 

 15. Amendment; Waiver. 
  
 Subject to certain exceptions set forth in the Indenture, (i) the Indenture or the Securities may be amended with the
written consent of the Holders of at least a majority in aggregate principal amount of the Securities at the time outstanding and (ii) certain Defaults may be waived with the written consent of the Holders of a majority in aggregate principal amount
of the Securities at the time outstanding. Subject to certain exceptions set forth in the Indenture, without the consent of any Securityholder, the Company and the Trustee may amend the Indenture or the Securities as set forth in Section 9.01 of the
Indenture. 
  
 16. Defaults and Remedies.

  
 If an Event of Default (as defined in the Indenture) occurs
and is continuing, the Trustee, or the Holders of at least 25% in aggregate principal amount of the Securities at the time outstanding, may declare all the Securities to be due and payable immediately. Certain events of bankruptcy or insolvency are
Events of Default which will result in the Securities becoming due and payable immediately upon the occurrence of such Events of Default. 
  
 Securityholders may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or
the Securities unless it receives reasonable indemnity or security. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities at the time outstanding may direct the Trustee in its exercise of any trust or
power. The Trustee may withhold from Securityholders notice of any continuing Default (except a Default in payment of amounts specified in clause (i) or (ii) above) if it determines that withholding notice is in their interests. 
  
 17. Trustee Dealings with the Company. 
  
 Subject to certain limitations imposed by the TIA, the Trustee under the
Indenture, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the Company or its
Affiliates with the same rights it would have if it were not Trustee. 
  
 18. No Recourse Against Others. 
  
 A director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of or by reason of such
obligations or their creation. By accepting a Security, each Securityholder waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities. 
  
 19. Authentication. 
  

 A-1-13 

 This Security shall not be valid until an authorized signatory of the Trustee manually signs the Trustee’s
Certificate of Authentication on the other side of this Security. 
  
 20. Abbreviations. 
  
 Customary
abbreviations may be used in the name of a Securityholder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (joint tenants with right of survivorship and not as tenants in common), CUST (=custodian),
and U/G/M/A (=Uniform Gift to Minors Act). 
  
 21. GOVERNING LAW. 
  
 THE INDENTURE AND THIS SECURITY
WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  

  
 The Company will furnish to any Securityholder upon written request and
without charge a copy of the Indenture which has in it the text of this Security in larger type. Requests may be made to: 
  
 Health Management Associates, Inc. 
 5811 Pelican Bay Boulevard 
 Suite 500 
 Naples, Florida 34108-2710 
 Attention: Chief Financial Officer 
  

 A-1-14 

	ASSIGNMENT FORM	 	CONVERSION NOTICE
		
	 To assign this Security, fill in the form below:
	 	To convert this Security into Class A Common Stock of the Company, check the box:
		
	 I or we assign and transfer this Security to
	 	 
		
	  

  

  
 (Insert assignee’s soc. sec. or tax ID no.)
	 	To convert only part of this Security, state the principal amount to be converted (which must be $1,000 or an integral multiple of $1,000):
	 	 	 $ _______________________

		
	
  

  

 (Print or type assignee’s name, address and zip code)
	 	  
 If you want the stock certificate made out in another
person’s name, fill in the form below:

	 and irrevocably appoint
	 	
  

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

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

  

  

  

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

  

	

				
	 Date:
	  	  

	  	 Your Signature:
	  	  

	
	

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

  

 A-1-15 

 FORM OF FUNDAMENTAL CHANGE PURCHASE NOTICE 
  
 To: Health Management Associates, Inc. 
  
 The undersigned registered holder of this Security hereby acknowledges receipt of a notice from Health Management
Associates, Inc. (the “Company”) as to the occurrence of a Fundamental Change with respect to the Company and requests and instructs the Company to repurchase this Security, or the portion hereof (which is $1,000 original principal
amount or a integral multiple thereof) designated below, in accordance with the terms of the Indenture referred to in this Security and directs that the check in payment for this Security or the portion thereof and any Securities representing any
unrepurchased principal amount hereof, be issued and delivered to the registered holder hereof unless a different name has been indicated below. If any portion of this Security not repurchased is to be issued in the name of a Person other than the
undersigned, the undersigned shall pay all transfer taxes payable with respect thereto. 
  

	 Dated:
	 	  

 Signature(s)

		
	 	 	Signature(s) must be guaranteed by a commercial bank or trust company or a member firm of a major stock exchange if shares of Class A Common Stock are to be issued, or Securities
to be delivered, other than to or in the name of the registered holder.
		
	 	 	
  
 Signature Guarantee

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

	
	
 (Name)

	
	
 (Street Address)

	
	
 (City, state and zip code)

  
 Please print name and address 
  
  

 A-1-16 

	 Principal Amount to be

	 purchased (if less than all):

	 $    ,000

  
 If the Company has elected to
pay the Fundamental Change Purchase Price, in whole or in part, in Class A Common Stock but such portion of the Fundamental Change Purchase Price shall ultimately be payable in Cash because any of the conditions to the payment of the Fundamental
Change Purchase Price in Class A Common Stock are not satisfied I elect [check one]: 
  
     to withdraw such Purchase Notice as to the Securities to which such Fundamental Change Purchase Notice relates in the principal amount of
$            , 000, with certificate numbers         , or 
  
      to receive Cash in respect of the entire Purchase Price for all Securities (or portions
thereof) to which such Purchase Notice relates. 
  
 Social Security
or Other Taxpayer Number 
  

 A-1-17 

 EXHIBIT B-1 
  
 Transfer Certificate 
  
 In connection with any transfer of any of the Securities within the period prior to the expiration of the holding period applicable to the sales thereof
under Rule 144(k) under the Securities Act of 1933, as amended (the “Securities Act”) (or any successor provision), the undersigned registered owner of this Security hereby certifies with respect to
$                 principal amount of the above-captioned securities presented or surrendered on the date hereof (the “Surrendered Securities”) for
registration of transfer, or for exchange or conversion where the securities issuable upon such exchange or conversion are to be registered in a name other than that of the undersigned registered owner (each such transaction being a
“transfer”), that such transfer complies with the restrictive legend set forth on the face of the Surrendered Securities for the reason checked below: 
  
 A transfer of the Surrendered Securities is made to the Company or any subsidiaries; or 
  
 The transfer of the Surrendered Securities complies with Rule 144A under the
U.S. Securities Act of 1933, as amended (the “Securities Act”); or 
  
 The transfer of the Surrendered Securities is pursuant to an effective registration statement under the Securities Act; or 
  
 The transfer of the Surrendered Securities is pursuant to an offshore transaction in accordance with Rule 904 of Regulation S under the Securities Act; or

  
 The transfer of the Surrendered Securities is pursuant to the
exemption from registration provided by Rule 144 adopted under the Securities Act (if available). 
  
 and unless the box below is checked, the undersigned confirms that, to the undersigned’s knowledge, such Securities are not being transferred to an “affiliate” of the Company as defined in Rule 144
under the Securities Act (an “Affiliate”). 
  
 The
transferee is an Affiliate of the Company. 
  

	 DATE:

	 	

	 	 	Signature(s)

  
 (If the registered
owner is a corporation, partnership or 
 fiduciary, the title of the Person signing on behalf of 
 such registered owner must be stated.) 
  

 B-1-1Registration Rights Agreement dated July 29, 2003

 Exhibit 4.7 
  

1.50% CONVERTIBLE SENIOR SUBORDINATED NOTES 
 DUE 2023 
 REGISTRATION RIGHTS AGREEMENT 
  
  
 Dated as of July 29, 2003 
  
 by and among 
  
 Health Management Associates, Inc. 
  

and 
  
 Banc of America Securities LLC 
 Lehman Brothers Inc. 
 Wachovia Capital Markets LLC 

 This Registration Rights Agreement (this “Agreement”) is made and entered into as of
July 29, 2003 by and among Health Management Associates, Inc., a Delaware corporation (the “Company”), Banc of America Securities LLC, Lehman Brothers Inc., and Wachovia Capital Markets LLC and the several Persons listed on Schedule
I hereto (each an “Initial Purchaser” and, collectively, the “Initial Purchasers”), each of whom has agreed to purchase the Company’s 1.50% Convertible Senior Subordinated Notes due 2023 (the
“Notes”) pursuant to the Purchase Agreement (as defined below). 
  
 This Agreement is made pursuant to the Purchase Agreement, dated July 24, 2003, (the “Purchase Agreement”), by and among the Company and the Initial Purchasers. In order to induce the Initial
Purchasers to purchase the Notes, the Company has agreed to provide the registration rights set forth in this Agreement. The execution and delivery of this Agreement is a condition to the obligations of the Initial Purchasers pursuant to Section 9
of the Purchase Agreement. Capitalized terms used herein and not otherwise defined shall have the meaning assigned to them in the Indenture, dated July 29, 2003, between the Company and Wachovia Bank, National Association as Trustee, relating to the
Notes (the “Indenture”). 
  
 The parties hereby
agree as follows: 
  
 SECTION 1.
Definitions. 
  
 As used in this Agreement, the following
capitalized terms shall have the following meanings: 
  
 Act: The Securities Act of 1933, as amended. 
  
 Affiliate: As defined in Rule 144 of the Act. 
  
 Amendment Effectiveness Deadline: As defined in Section 3(b) hereof. 
  
 Applicable Conversion Price as of any date of determination means the Applicable Principal Amount per $1,000 principal amount of Notes as of such date of determination divided by the Conversion Rate in effect
as of such date of determination or, if no Notes are then outstanding, the Conversion Rate that would be in effect were Notes then outstanding. 
  
 Applicable Principal Amount as of any date of determination, with respect to each $1,000 principal amount of Notes means the sum of the initial
issue price of such Notes ($1,000) plus accrued interest, if any, with respect to such Notes through such date of determination or, if no Notes are then outstanding, such sum calculated as if such Notes were then outstanding. 
  

 2 

 Business Day: Each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which
banking institutions in the City of New York are authorized or obligated by law or executive order to close. 
  
 Closing Date: The date hereof. 
  
 Common Stock: Class A Common Stock, par value $0.01 per share, of the Company. 
  
 Commission: The Securities and Exchange Commission. 
  
 Conversion Rate: has the meaning assigned to that term in the Indenture. 
  
 Damages Accrual Period: As defined in Section 4 hereof. 
  
 Damages Payment Date: Each of July 29 and January 29. 
  
 Deferral Notice: As defined in Section 5(a)(vi) hereof. 
  
 Deferral Period: As defined in Section 5(a)(vi) hereof. 

  
 Effectiveness Deadline: As defined in Section 3(a)
hereof. 
  
 Effectiveness Period means the period of two
years from the date that the Shelf Registration Statement is declared effective to the earliest occurrence of the following: (A) when all the Registrable Securities have been sold pursuant to the Shelf Registration Statement or Rule 144, or any
successor rule or regulation thereto, or (B) when, in the written opinion of counsel to the Company, all outstanding Registrable Securities held by persons which are not affiliates of the Company may be resold without registration under the
Securities Act pursuant to Rule 144(k) under the Securities Act or any successor provision thereto. 
  
 Event: As defined in Section 4 hereof. 
  
 Event Date: As defined in Section 4 hereof. 
  
 Event Termination Date: As defined in Section 4 hereof. 
  
 Exchange Act: The Securities Exchange Act of 1934, as amended. 
  
 Exempt Resales: The transactions in which the Initial Purchasers
propose to sell the Notes to certain “qualified institutional buyers,” as such term is defined in Rule 144A under the Act. 
  

 3 

 Filing Deadline: As defined in Section 3(a) hereof. 
  
 Holders: As defined in Section 2 hereof. 
  
 Liquidated Damages Amount: As defined in Section 4 hereof.

  
 Material Event: As defined in Section 5(vi) hereof.

  
 Notes: The Company’s 1.50% Convertible Senior
Subordinated Notes due 2023 being issued pursuant to the Purchase Agreement. 
  
 Notice and Questionnaire: means a written notice delivered to the Company containing substantially the information called for by the Selling Securityholder Notice and Questionnaire attached as Exhibit A to the
Offering Memorandum of the Company issued on July 24, 2003 relating to the Notes. 
  
 “Person” shall mean an individual, partnership, limited liability company, corporation, trust or unincorporated organization, or a government or agency or political subdivision thereof.

  
 Prospectus: The prospectus included in a Registration
Statement at the time such Registration Statement is declared effective, as amended or supplemented by any prospectus supplement and by all other amendments thereto, including post-effective amendments, all material incorporated by reference into
such Prospectus and any information previously omitted in reliance upon Rule 430A of the Act. 
  
 Rule 144: Rule 144 promulgated under the Act. 
  
 Shelf Registration Statement: As defined in Section 3 hereof. 
  
 TIA: The Trust Indenture Act of 1939 (15 U.S.C. Section 77aaa-77bbbb) as in effect on the date of the Indenture. 
  
 Registrable Securities: The Notes and the shares of Common Stock into
which the Notes are convertible, upon original issuance thereof, and at all times subsequent thereto, until, in the case of any such Notes or shares of Common Stock, (a) the date on which such Notes or shares of Common Stock have been disposed of in
accordance with a Shelf Registration Statement, (b) the date on which such Notes or shares of Common Stock are distributed to the public pursuant to Rule 144 or are saleable pursuant to Rule 144 (or similar provisions then in effect) under the Act
or (c) the date on which such Notes or shares of Common Stock cease to be outstanding. 
  

 4 

 SECTION 2. Holders. 
  
 A Person is deemed to be a holder of Registrable Securities (each, a “Holder”) whenever such Person owns
Registrable Securities. 
  
 SECTION 3. Shelf
Registration. 
  
 (a) Shelf Registration. As soon as
practicable after the Closing Date but in no event later than 90 days after the Closing Date (such 90th day, “Filing Deadline”), the Company shall file with the Commission a shelf registration statement pursuant to Rule 415 under
the Act (the “Shelf Registration Statement”), relating to all Registrable Securities, and shall use its reasonable efforts to cause such Shelf Registration Statement to become effective on or prior to 180 days after the Closing Date
(such 180th day, the “Effectiveness Deadline”). 
  
 The Company shall use its best efforts to keep any Shelf Registration Statement required by this Section 3(a) continuously effective, supplemented and amended as required by and subject to the provisions of Section 5(a) hereof to the extent
necessary to ensure that it is available for sales of Registrable Securities by the Holders thereof entitled to the benefit of this Section 3(a), and to ensure that it conforms with the requirements of this Agreement, the Act and the policies, rules
and regulations of the Commission as announced from time to time, for the Effectiveness Period. 
  
 (b) Provision by Holders of Certain Information in Connection with the Shelf Registration Statement. Each Holder of Registrable Securities agrees
that if such Holder wishes to sell Registrable Securities pursuant to a Shelf Registration Statement and related Prospectus, it will do so only in accordance with this Section 3(b) and Section 5(a)(vi). Each Holder of Registrable Securities wishing
to sell Registrable Securities pursuant to a Shelf Registration Statement and related Prospectus agrees to deliver a Notice and Questionnaire and, if requested, the information specified in Item 508 of Regulation S-K, to the Company at least three
(3) Business Days prior to any intended distribution of Registrable Securities under the Shelf Registration Statement. From and after the date the Shelf Registration Statement is declared effective, the Company shall, as promptly as is practicable
after the date a Notice and Questionnaire and, if requested, the information specified in Item 508 of Regulation S-K, is delivered, and in any event within five (5) Business Days after such date, (i) if required by applicable law, file with the SEC
a post-effective amendment to the Shelf Registration Statement or prepare and, if required by applicable law, file a supplement to the related Prospectus or a supplement or amendment to any document incorporated therein by reference or file any
other required document so that the Holder delivering such Notice and Questionnaire is named as a selling security holder in the Shelf Registration Statement 

  

 5 

 
and the related Prospectus in such a manner as to permit such Holder to deliver such Prospectus to purchasers of the Registrable Securities in accordance
with applicable law and, if the Company shall file a post-effective amendment to the Shelf Registration Statement, use its reasonable efforts to cause such post-effective amendment to be declared effective under the Securities Act as promptly as is
practicable, but in any event by the date (the “Amendment Effectiveness Deadline”) that is thirty (30) days after the date such post-effective amendment is required by this clause to be filed; (ii) provide such Holder copies of any
documents filed pursuant to Section 3(b)(i); and (iii) notify such Holder as promptly as practicable after the effectiveness under the Securities Act of any post-effective amendment filed pursuant to Section 3(b)(i); provided, that if such
Notice and Questionnaire or information specified in Item 508 of Regulation S-K is delivered during a Deferral Period, the Company shall so inform the Holder delivering such Notice and Questionnaire and shall take the actions set forth in clauses
(i), (ii) and (iii) above upon expiration of the Deferral Period in accordance with Section 5(a)(vi), provided, further, that if under applicable law the Company has more than one option as to the type or manner of making any such
filing, it will make the required filing or filings in the manner or of a type that is reasonably expected to result in the earliest availability of the Prospectus for effecting resales of Registrable Securities. Notwithstanding anything contained
herein to the contrary, the Company shall be under no obligation to name any Holder that has not delivered a Notice and Questionnaire to the Company as a selling security holder in any Registration Statement or related Prospectus; provided, however,
that any Holder that has delivered a Notice and Questionnaire to the Company pursuant to the provisions of Section 3(b) of this Agreement (whether or not such Holder has delivered a Notice and Questionnaire to the Company by the time the
Registration Statement was declared effective) shall be named as a selling security holder in the Registration Statement or related Prospectus in accordance with the requirements of this Section 3(b). 
  
 SECTION 4. Liquidated Damages. 
  
 The parties hereto agree that the Holders of Registrable Securities will
suffer damages, and that it would not be feasible to ascertain the extent of such damages with precision, if (i) the Shelf Registration Statement is not filed with the Commission on or prior to the Filing Deadline, (ii) such Shelf Registration
Statement has not been declared effective by the Commission on or prior to the Effectiveness Deadline, (iii) the Company has failed to perform its obligations set forth in Section 3(b) hereof within the time period required therein, or (iv) the
aggregate duration of Deferral Periods in any period exceeds the number of days permitted in respect of such period pursuant to Section 5(a)(vi) hereof (each of the events of a type described in any of the foregoing clauses (i) through (iv) are
individually referred to herein as an “Event,” and the Filing Deadline in the case of clause (i), the Effectiveness Deadline in the case of clause (ii), the date by which the Company is required to perform its obligations set

  

 6 

 
forth in Section 3(b) in the case of clause (iii) (including the filing of any post-effective amendment prior to the Amendment Effectiveness Deadline), and
the date on which the aggregate duration of Deferral Periods in any period exceeds the number of days permitted by Section 5(a)(vi) hereof in the case of clause (iv), being referred to herein as an “Event Date”). Events shall be
deemed to continue until the “Event Termination Date,” which shall be the following dates with respect to the respective types of Events: the date the Shelf Registration Statement is filed in the case of an Event of the type
described in clause (i), the date the Shelf Registration Statement is declared effective under the Securities Act in the case of an Event of the type described in clause (ii), the date the Company performs its obligations set forth in Section 3(b)
in case of an Event of the type described in clause (iii), and termination of the Deferral Period that caused the limit on the aggregate duration of Deferral Periods in a period set forth in Section 5(a)(vi) to be exceeded in the case of the
commencement of an Event of the type described in clause (iv). 
  
 Accordingly, commencing on (and including) any Event Date and ending on (but excluding) the next date on which there are no Events that have occurred and are continuing (a “Damages Accrual Period”), the Company agrees to
pay, as liquidated damages and not as a penalty, an amount (the “Liquidated Damages Amount”), payable on the Damages Payment Dates to Holders of Registrable Securities, accruing, for each portion of such Damages Accrual Period
beginning on and including a Damages Payment Date (or, in respect of the first time that the Liquidated Damages Amount is to be paid to Holders on a Damages Payment Date as a result of the occurrence of any particular Event, from the Event Date) and
ending on but excluding the first to occur of (A) the date of the end of the Damages Accrual Period or (B) the next Damages Payment Date, at a rate per annum equal to one-quarter of one percent (0.25%) for the first 90-day period from the Event
Date, and thereafter at a rate per annum equal to one-half of one percent (0.5%) of the aggregate Applicable Principal Amount of such Notes and the aggregate Applicable Conversion Price of such shares of Common Stock, as the case may be, in each
case determined as of the Business Day immediately preceding the next Damages Payment Date; provided, that any Liquidated Damages Amount accrued with respect to any Notes or portion thereof called for redemption on a redemption date or
converted into Common Stock on a conversion date prior to the Damages Payment Date, shall, in any such event, be paid instead to the Holder who submitted such Notes or portion thereof for redemption or conversion on the applicable redemption date or
conversion date, as the case may be, on such date (or promptly following the conversion date, in the case of conversion). Notwithstanding the foregoing, no Liquidated Damages Amount shall accrue as to any Registrable Security from and after the
earlier of (x) the date such security is no longer a Registrable Security and (y) expiration of the Effectiveness Period. The rate of accrual of the Liquidated Damages Amount with respect to any period shall not exceed the rate provided for in this
paragraph notwithstanding the occurrence of multiple concurrent Events. Following the cure of 

  

 7 

 
all Events requiring the payment by the Company of Liquidated Damages Amounts to the Holders of Registrable Securities pursuant to this Section, the accrual
of Liquidated Damages Amounts will cease (without in any way limiting the effect of any subsequent Event requiring the payment of a Liquidated Damages Amount by the Company). 
  
 The Trustee shall be entitled, on behalf of Holders of Registrable Securities, to seek any available remedy for the
enforcement of this Agreement, including for the payment of any Liquidated Damages Amount. Notwithstanding the foregoing, the parties agree that the sole monetary damages payable for a violation of the terms of this Agreement with respect to which
liquidated damages are expressly provided shall be such liquidated damages. Nothing shall preclude a Holder of Registrable Securities from pursuing or obtaining specific performance or other equitable relief with respect to this Agreement.

  
 All of the Company’s obligations set forth in this
Section 4 that are outstanding with respect to any Registrable Security at the time such security ceases to be a Registrable Security shall survive until such time as all such obligations with respect to such security have been satisfied in full
(notwithstanding termination of this Agreement). 
  
 The parties
hereto agree that the liquidated damages provided for in this Section 4 constitute a reasonable estimate of the damages that may be incurred by Holders of Registrable Security by reason of the failure of the Shelf Registration Statement to be filed
or declared effective or available for effecting resales of Registrable Security in accordance with the provisions hereof. 
  
 SECTION 5. Shelf Registration Procedures. 
  

(a) Procedures. In connection with the Shelf Registration Statement, the Company shall: 
  
 (i) use its reasonable best efforts to effect such
registration to permit the sale of the Registrable Securities being sold in accordance with the intended method or methods of distribution thereof (as indicated in the information furnished to the Company pursuant to Section 3(b) hereof), and
pursuant thereto the Company will prepare and file with the Commission a Shelf Registration Statement relating to the registration on any appropriate form under the Act, which form shall be available for the sale of the Registrable Securities in
accordance with the intended method or methods of distribution thereof (including, without limitation, one or more underwritten offerings) within the time periods and otherwise in accordance with the 

  

 8 

 
provisions hereof. The Company shall not be permitted to include in the Shelf Registration Statement any securities other than the Registrable Securities.

  
 (ii) use its best efforts to contact all
Holders of Registrable Securities and notify each Holder of its right to include its Registrable Securities in such Shelf Registration Statement. 
  
 (iii) use its best efforts to keep such Shelf Registration Statement continuously effective and provide all requisite financial statements
for the period specified in Section 3 of this Agreement. Upon the occurrence of any event that would cause any such Shelf Registration Statement or the Prospectus contained therein (A) to contain an untrue statement of a material fact or omit to
state any material fact necessary to make the statements therein not misleading or (B) not to be effective and usable for resale of Registrable Securities during the period required by this Agreement, the Company shall file promptly an appropriate
amendment to such Shelf Registration Statement curing such defect, and, if Commission review is required, use its best efforts to cause such amendment to be declared effective as soon as practicable. 
  
 (iv) prepare and file with the Commission such amendments
and post-effective amendments to the Shelf Registration Statement as may be necessary to keep such Shelf Registration Statement effective for the applicable period set forth in Section 3 hereof, cause the Prospectus to be supplemented by any
required Prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 under the Act, and to comply fully with Rules 424, 430A and 462, as applicable, under the Act in a timely manner; and comply with the provisions of the Act with
respect to the disposition of all Registrable Securities covered by such Shelf Registration Statement during the applicable period in accordance with the intended method or methods of distribution by the sellers thereof set forth in such Shelf
Registration Statement or supplement to the Prospectus; 
  
 (v) advise the Holders and underwriters, if any, promptly and, if requested by such Persons, confirm such advice in writing, (A) when the Prospectus or any Prospectus supplement or post-effective amendment has been
filed, and, with respect to any Shelf Registration Statement or any post-effective amendment thereto, when the same has become effective or (B) of any request by the Commission for amendments to the Shelf Registration Statement or amendments or
supplements to the Prospectus or for additional information relating thereto. If at any time any state securities commission or other regulatory authority shall issue an order suspending the qualification or exemption from qualification of the
Registrable Securities under state 

  

 9 

 
securities or Blue Sky laws, the Company shall use its best efforts to obtain the withdrawal or lifting of such order at the earliest possible time;

  
 (vi) Upon (A) the issuance by the Commission
of a stop order suspending the effectiveness of the Shelf Registration Statement or the initiation of proceedings with respect to the Shelf Registration Statement under Section 8(d) or 8(e) of the Securities Act, (B) the occurrence of any event or
the existence of any fact (a “Material Event”) as a result of which any Shelf Registration Statement shall contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary
to make the statements therein not misleading, or any Prospectus shall contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading, or (C) the occurrence or existence of any pending corporate development that, in the discretion of the Company, makes it appropriate to suspend the availability of the Shelf Registration
Statement and the related Prospectus, (i) in the case of clause (B) above, subject to the next sentence, as promptly as practicable prepare and file a post-effective amendment to such Shelf Registration Statement or a supplement to the related
Prospectus or any document incorporated therein by reference or file any other required document that would be incorporated by reference into such Shelf Registration Statement and Prospectus so that such Shelf Registration Statement does not contain
any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and such Prospectus does not contain any untrue statement of a material fact or omit
to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, as thereafter delivered to the purchasers of the Registrable
Securities being sold thereunder, and, in the case of a post-effective amendment to a Shelf Registration Statement, subject to the next sentence, use all reasonable efforts to cause it to be declared effective as promptly as is reasonably
practicable, and (ii) give notice to the Holders that the availability of the Shelf Registration Statement is suspended (a “Deferral Notice”) and, upon receipt of any Deferral Notice, each Holder agrees not to sell any Registrable
Securities pursuant to the Registration Statement until such Holder’s receipt of copies of the supplemented or amended Prospectus provided for in clause (i) above, or until it is advised in writing by the Company that the Prospectus may be
used, and has received copies of any additional or supplemental filings that are incorporated or deemed incorporated by reference in such Prospectus. The Company will use its reasonable efforts to ensure that the use of the Prospectus may be resumed
(x) in the case of clause (A) above, as promptly 

  

 10 

 
as is practicable, (y) in the case of clause (B) above, as soon as, in the sole judgment of the Company, public disclosure of such Material Event would not
be prejudicial to or contrary to the interests of the Company or, if necessary to avoid unreasonable burden or expense, as soon as reasonably practicable thereafter and (z) in the case of clause (C) above, as soon as, in the discretion of the
Company, such suspension is no longer appropriate. The period during which the availability of the Shelf Registration Statement and any Prospectus is suspended (the “Deferral Period”) shall, without the Company incurring any
obligation to pay liquidated damages pursuant to Section 4, not exceed one hundred twenty (120) days in the aggregate in any twelve (12) month period. 
  
 (vii) furnish to each Holder named in any Shelf Registration Statement or Prospectus and underwriter, if any, in connection with such sale
before filing with the Commission, copies of any Shelf Registration Statement or any Prospectus included therein or any amendments or supplements to any such Shelf Registration Statement or Prospectus (including all documents incorporated by
reference after the initial filing of such Shelf Registration Statement), which documents will be subject to the review and comment of such Persons in connection with such sale, if any, for a period of at least five Business Days, and the Company
will not file any such Shelf Registration Statement or Prospectus or any amendment or supplement to any such Shelf Registration Statement or Prospectus (including all such documents incorporated by reference) to which such Persons shall reasonably
object within five Business Days after the receipt thereof, after which time any Person failing to object shall be deemed to have accepted the form of the documents received. Any Person making a timely objection shall be deemed to have reasonably
objected to such filing if such objection is made because such Registration Statement, amendment, Prospectus or supplement, as applicable, as proposed to be filed, contains an untrue statement of a material fact or omits to state any material fact
necessary to make the statements therein not misleading or fails to comply with the applicable requirements of the Act; 
  
 (viii) promptly prior to the filing of any document that is to be incorporated by reference into a Shelf Registration Statement or
Prospectus, provide copies of such document to the Holders, and underwriters, if any, in connection with such sale, make the Company’s representatives available for discussion of such document and other customary due diligence matters in
accordance with clause (ix) below, and include such information in such document prior to the filing thereof as such Holders may reasonably request; 
  

 11 

 (ix) make available at reasonable times for inspection by the Holders and underwriters,
if any, and any attorney or accountant retained by such Holders, or underwriters, if any, all financial and other records, pertinent corporate documents of the Company and cause the Company’s officers, directors and employees to supply all
information reasonably requested by any such Holder, underwriters, if any, attorney or accountant in connection with such Shelf Registration Statement or any post-effective amendment thereto subsequent to the filing thereof and prior to its
effectiveness; provided, however, that such Persons shall first agree in writing with the Company that any information that is reasonable and in good faith designated by the Company in writing as confidential at the time of delivery of such
information shall be kept confidential by such Persons, unless (A) disclosure of such information is required by court or administrative order or is necessary to respond to inquiries of regulatory authorities, (B) disclosure of such information is
required by law (including any disclosure requirements pursuant to federal securities laws in connection with the filing of such Registration Statement or the use of any Prospectus), (C) such information becomes generally available to the public
other than as a result of a disclosure or failure to safeguard such information by such Person or (D) such information becomes available to such Person from a source other than the Company and its subsidiaries and such source is not known, after due
inquiry, by such Person to be bound by a confidentiality agreement; provided further, that the foregoing investigation shall be coordinated on behalf of such Persons by one representative designated by and on behalf of such Persons and any
such confidential information shall be available from such representative to such Persons so long as any Person agrees to be bound by such confidentiality agreement; 
  
 (x) if requested by any Holders or underwriters, if any, in connection with such sale, promptly include in
any Shelf Registration Statement or Prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Holders or underwriters, if any, may reasonably request to have included therein, including, without
limitation, information relating to the “Plan of Distribution” of the Registrable Securities; and make all required filings of such Prospectus supplement or post-effective amendment as soon as practicable after the Company is notified of
the matters to be included in such Prospectus supplement or post-effective amendment; 
  
 (xi) furnish to each Holder and underwriter, if any, without charge, at least one copy of the Shelf Registration Statement, as first filed
with the Commission, and of each amendment thereto, including all documents 

  

 12 

 
incorporated by reference therein and all exhibits (including exhibits incorporated therein by reference); 
  
 (xii) deliver to each Holder and underwriter, if any,
without charge, as many copies of the Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such Persons reasonably may request; the Company hereby consents to the use (in accordance with law) of the
Prospectus and any amendment or supplement thereto by each Holder and each underwriter, if any, in connection with the offering and the sale of the Registrable Securities covered by the Prospectus or any amendment or supplement thereto; 

 
 (xiii) upon the request of any Holder or underwriter, if
any, enter into such customary agreements (including underwriting agreements) and make such customary representations and warranties and take all such other customary actions in connection therewith in order to expedite or facilitate the disposition
of the Registrable Securities pursuant to any Shelf Registration Statement contemplated by this Agreement as may be reasonably requested by such Person in connection with any sale or resale pursuant to any applicable Shelf Registration Statement and
in such connection, the Company shall: 
  
 (A)
upon request of any Holder or underwriter, if any, furnish (or in the case of paragraphs (2) and (3) below, use its best efforts to cause to be furnished) to each Holder or underwriter, if any, upon the effectiveness of the Shelf Registration
Statement: 
  
 (1) a certificate, dated such
date, signed on behalf of the Company by (x) the President or any Vice President and (y) a principal financial or accounting officer of the Company, confirming, as of the date thereof, the matters set forth in Sections 6(v), 9(a) and 9(b) of the
Purchase Agreement and such other similar matters as the Holders may reasonably request; 
  
 (2) opinions, dated the date of effectiveness of the Shelf Registration Statement, of counsel for the Company covering matters similar to
those set forth in paragraphs (e) and (f) of Section 9 of the Purchase Agreement and such other matters as the selling Holders may reasonably request, and in any event including a statement to the effect that such counsel has participated in
conferences with officers and other representatives of the Company, representatives of the 

  

 13 

 
independent public accountants for the Company and have considered the matters required to be stated therein and the statements contained therein, although
such counsel has not independently verified the accuracy, completeness or fairness of such statements; and that such counsel advises that, on the basis of the foregoing, no facts came to such counsel’s attention that caused such counsel to
believe that the Shelf Registration Statement, at the time such Shelf Registration Statement or any post-effective amendment thereto became effective, contained an untrue statement of a material fact or omitted to state a material fact required to
be stated therein or necessary to make the statements therein not misleading, or that the Prospectus contained in such Shelf Registration Statement as of its date, contained an untrue statement of a material fact or omitted to state a material fact
necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. Without limiting the foregoing, such counsel may state further that such counsel assumes no responsibility for, and has
not independently verified, the accuracy, completeness or fairness of the financial statements, notes and schedules and other financial data included in any Registration Statement contemplated by this Agreement or the related Prospectus; and

  
 (3) a customary comfort letter, dated as of
the date of effectiveness of the Shelf Registration Statement from the Company’s independent accountants, in the customary form and covering matters of the type customarily covered in comfort letters to underwriters in connection with
underwritten offerings, and affirming the matters set forth in the comfort letters delivered pursuant to Section 9(h) of the Purchase Agreement; and 
  
 (B) deliver such other documents and certificates as may be reasonably requested by the Holders and underwriters, if any, to evidence
compliance with the matters set forth in clause (A) above and with any customary conditions contained in any agreement entered into by the Company pursuant to this clause (xiii); 
  
 (xiv) prior to any public offering of Registrable Securities, cooperate with the Holders, underwriters, if
any, and their respective counsel in connection with the registration and qualification of the Registrable Securities 

  

 14 

 
under the securities or Blue Sky laws of such jurisdictions in the United States as such Persons may request and do any and all other acts or things
necessary or advisable to enable the disposition in such jurisdictions in the United States of the Registrable Securities covered by the applicable Registration Statement; provided, however, that the Company shall not be required to register
or qualify as a foreign corporation where it is not now so qualified or to take any action that would subject it to the service of process in suits or to taxation, other than as to matters and transactions relating to the Shelf Registration
Statement, in any jurisdiction where it is not now so subject; 
  
 (xv) in connection with any sale of Registrable Securities that will result in such securities no longer being Registrable Securities, cooperate with the Holders to facilitate the timely preparation and delivery of
certificates representing Registrable Securities to be sold and not bearing any restrictive legends; and to register such Registrable Securities in such denominations and such names as the Holders may request at least two Business Days prior to such
sale of Registrable Securities; 
  
 (xvi) (A)
list all Shares of Common Stock covered by such Shelf Registration Statement on any securities exchange on which the Common Stock is then listed or (B) authorize for quotation on the National Association of Securities Dealers Automated Quotation
System (“NASDAQ”) or the National Market System of NASDAQ all Shares of Common Stock covered by such Shelf Registration Statement if the Common Stock is then so authorized for quotation. 
  
 (xvii) use its best efforts to cause the disposition of the
Registrable Securities covered by the Shelf Registration Statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the seller or sellers thereof to consummate the disposition of such
Registrable Securities, subject to the proviso contained in clause (xiv) above; 
  
 (xviii) provide a CUSIP number for all Registrable Securities not later than the effective date of a Shelf Registration Statement covering
such Registrable Securities and provide the Trustee under the Indenture with printed certificates for the Registrable Securities which are in a form eligible for deposit with the Depository Trust Company; 
  
 (xix) otherwise use its best efforts to comply with all
applicable rules and regulations of the Commission, and make generally available to its security holders with regard to any applicable Registration Statement, as soon as practicable, a consolidated earnings statement meeting the requirements of

  

 15 

 
Rule 158 (which need not be audited) covering a twelve-month period beginning after the effective date of the Registration Statement (as such term is defined
in paragraph (c) of Rule 158 under the Act); 
  
 (xx) if underwritten, make appropriate officers of the Company reasonably available to the underwriters for meetings with prospective purchasers of the Registrable Securities and prepare and present to potential investors customary
“road show” material in a manner consistent with other new issuances of other securities similar to the Registrable Securities; and 
  
 (xxi) cause the Indenture to be qualified under the TIA not later than the effective date of the Shelf Registration Statement required by
this Agreement and, in connection therewith, cooperate with the Trustee and the Holders to effect such changes to the Indenture as may be required for such Indenture to be so qualified in accordance with the terms of the TIA; and execute and use its
best efforts to cause the Trustee to execute, all documents that may be required to effect such changes and all other forms and documents required to be filed with the Commission to enable such Indenture to be so qualified in a timely manner; and

  
 (xxii) provide promptly to each Holder upon
request each document filed with the Commission pursuant to the requirements of Section 13 or Section 15(d) of the Exchange Act. 
  
 (b) Restrictions on Holders. Each Holder receiving a Deferral Notice hereby agrees that it will either (i) destroy any Prospectuses, other than
permanent file copies, then in such Holder’s possession which have been replaced by the Company with more recently dated Prospectuses or (ii) deliver to the Company (at the Company’s expense) all copies, other than permanent file copies,
then in such Holder’s possession of the Prospectus covering such Registrable Securities that was current at the time of receipt of the Deferral Notice. The time period regarding the effectiveness of the Shelf Registration Statement set forth in
Section 3 hereof, shall be extended by a number of days equal to the number of days in the period from and including the date of delivery of the Deferral Notice to the date of termination of the Deferral Period. 
  
 SECTION 6. Registration Expenses. 
  
 (a) All expenses incident to the Company’s performance of or compliance
with this Agreement will be borne by the Company, regardless of whether a Shelf Registration Statement required by this Agreement becomes effective, including without limitation: (i) all registration and filing fees and expenses; (ii) all fees and
expenses of compliance with federal securities and state Blue Sky or securities laws; 

  

 16 

 
(iii) all expenses of printing (including printing certificates for the Common Stock to be issued upon conversion of the Notes and printing of Prospectuses),
messenger and delivery services and telephone; (iv) all fees and disbursements of counsel for the Company and the Holders of Registrable Securities; (v) all application and filing fees in connection with listing the Common Stock on a national
securities exchange or automated quotation system pursuant to the requirements hereof; and (vi) all fees and disbursements of independent certified public accountants of the Company (including the expenses of any special audit and comfort letters
required by or incident to such performance). 
  
 The Company
will, in any event, bear its internal expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expenses of any annual audit and the fees and expenses of any Person,
including special experts, retained by the Company. 
  
 (b) In
connection with any Shelf Registration Statement required by this Agreement, the Company will reimburse the Initial Purchasers and the Holders selling Registrable Securities pursuant to the “Plan of Distribution” contained in the Shelf
Registration Statement, for the reasonable fees (not to exceed $10,000) and disbursements of not more than one counsel, who shall be Davis Polk & Wardwell, unless another firm shall be chosen by the Holders of a majority in principal amount at
maturity of the Registrable Securities for whose benefit such Shelf Registration Statement is being prepared. 
  
 SECTION 7. Indemnification. 
  
 (a) The Company agrees to indemnify and hold harmless each Holder, its directors, its officers and each Person, if any, who controls such Holder (within
the meaning of Section 15 of the Act and Section 20 of the Exchange Act), from and against any and all losses, claims, damages, liabilities, judgments, (including without limitation, any legal or other expenses incurred in connection with
investigating or defending any matter, including any action that could give rise to any such losses, claims, damages, liabilities or judgments) caused by any untrue statement or alleged untrue statement of a material fact contained in any Shelf
Registration Statement, preliminary prospectus or Prospectus (or any amendment or supplement thereto) provided by the Company to any Holder or any prospective purchaser of registered Notes or registered shares of Common Stock or caused by any
omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages, liabilities or judgments are caused by an untrue
statement or omission or alleged untrue statement or omission that is based upon information relating to any of the Holders furnished in writing to the Company by any of the Holders. 
  

 17 

 (b) Each Holder of Registrable Securities agrees, severally and not jointly, to indemnify and hold
harmless the Company and its directors and officers, and each person, if any, who controls (within the meaning of Section 15 of the Act or Section 20 of the Exchange Act) the Company, to the same extent as the foregoing indemnity from the Company
set forth in Section 7(a) above, but only with reference to information relating to such Holder furnished in writing to the Company by such Holder expressly for use in any Registration Statement. In no event shall any Holder, its directors, its
officers or any Person, if any, who controls such Holder be liable or responsible for any amount in excess of the amount by which the total amount received by such Holder with respect to its sale of Registrable Securities pursuant to a Shelf
Registration Statement exceeds (i) the amount paid by such Holder for such Registrable Securities and (ii) the amount of any damages that such Holder, its directors, its officers or any Person, if any, who controls such Holder has otherwise been
required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. 
  
 (c) In case any action shall be commenced involving any person in respect of which indemnity may be sought pursuant to Section 7(a) or 7(b) (the
“indemnified party”), the indemnified party shall promptly notify the person against whom such indemnity may be sought (the “indemnifying person”) in writing and the indemnifying party shall assume the defense of
such action, including the employment of counsel reasonably satisfactory to the indemnified party and the payment of all fees and expenses of such counsel, as incurred (except that in the case of any action in respect of which indemnity may be
sought pursuant to both Sections 7(a) and 7(b), a Holder shall not be required to assume the defense of such action pursuant to this Section 7(c), but may employ separate counsel and participate in the defense thereof, but the fees and expenses of
such counsel, except as provided below, shall be at the expense of the Holder). Any indemnified party shall have the right to employ separate counsel in any such action and participate in the defense thereof, but the fees and expenses of such
counsel shall be at the expense of the indemnified party unless (i) the employment of such counsel shall have been specifically authorized in writing by the indemnifying party, (ii) the indemnifying party shall have failed to assume the defense of
such action or employ counsel reasonably satisfactory to the indemnified party or (iii) the named parties to any such action (including any impleaded parties) include both the indemnified party and the indemnifying party, and the indemnified party
shall have been advised by such counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the indemnifying party (in which case the indemnifying party shall not have the right
to assume the defense of such action on behalf of the indemnified party). In any such case, the indemnifying party shall not, in connection with any one action or separate but substantially similar or related actions in the same jurisdiction arising
out of the same general allegations or circumstances, be liable for the fees and expenses of more than one separate firm of attorneys (in addition to any local counsel) for all 

  

 18 

 
indemnified parties and all such fees and expenses shall be reimbursed as they are incurred. Such firm shall be designated in writing by a majority of the
Holders, in the case of the parties indemnified pursuant to Section 7(a), and by the Company, in the case of parties indemnified pursuant to Section 7(b). The indemnifying party shall indemnify and hold harmless the indemnified party from and
against any and all losses, claims, damages, liabilities and judgments by reason of any settlement of any action effected with its written consent. No indemnifying party shall, without the prior written consent of the indemnified party, effect any
settlement or compromise of, or consent to the entry of judgment with respect to, any pending or threatened action in respect of which the indemnified party is or could have been a party and indemnity or contribution may be or could have been sought
hereunder by the indemnified party, unless such settlement, compromise or judgment (i) includes an unconditional release of the indemnified party from all liability on claims that are or could have been the subject matter of such action and (ii)
does not include a statement as to or an admission of fault, culpability or a failure to act, by or on behalf of the indemnified party. 
  
 (d) To the extent that the indemnification provided for in this Section 7 is unavailable to an indemnified party in respect of any losses, claims,
damages, liabilities or judgments referred to therein, then each indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims,
damages, liabilities or judgments (i) in such proportion as is appropriate to reflect the relative benefits received by the Company, on the one hand, and the Holders, on the other hand, from their sale of Registrable Securities or (ii) if the
allocation provided by clause 7(d)(i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause 7(d)(i) above but also the relative fault of the Company on the one hand,
and of the Holders, on the other hand, in connection with the statements or omissions which resulted in such losses, claims, damages, liabilities or judgments, as well as any other relevant equitable considerations. The relative fault of the
Company, on the one hand, and of the Holders, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact
relates to information supplied by the Company, on the one hand, or by the Holders, on the other hand, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.

  
 The Company and each Holder agree that it would not be just
and equitable if contribution pursuant to this Section 7(d) were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable
considerations referred to in the immediately preceding paragraph. The amount paid or payable by an indemnified party as a result of the losses, claims, damages, liabilities or judgments 

  

 19 

 
referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses
incurred by such indemnified party in connection with investigating or defending any matter, including any action that could have given rise to such losses, claims, damages, liabilities or judgments. Notwithstanding the provisions of this Section 7,
no Holder shall be required to contribute, in the aggregate, any amount in excess of the amount by which the total received by such Holder with respect to the sale of its Registrable Securities pursuant to a Registration Statement exceeds (i) the
amount paid by such Holder for such Registrable Securities and (ii) the amount of any damages which such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this
Section 7(d) are several in proportion to the respective principal amount at maturity of Registrable Securities held by each of the Holders hereunder and not joint. 
  
 SECTION 8. Rule 144A and Rule 144. 
  
 The Company agrees with each Holder, for so long as any Registrable Securities remain outstanding and during any period in
which the Company (i) is not subject to Section 13 or 15(d) of the Exchange Act, to make available, upon request of any Holder of Registrable Securities, to any Holder or beneficial owner of Registrable Securities in connection with any sale thereof
and any prospective purchaser of Registrable Securities designated by such Holder or beneficial owner, the information required by Rule 144A(d)(4) under the Act in order to permit resales of such Registrable Securities pursuant to Rule 144A, and
(ii) is subject to Section 13 or 15(d) of the Exchange Act, to make all filings required thereby in a timely manner in order to permit resales of such Registrable Securities pursuant to Rule 144. 
  
 SECTION 9. Underwritten Registrations. 
  
 (a) If any of the Registrable Securities covered by any Shelf Registration
Statement are to be sold in an underwritten offering, the investment banker or investment bankers and manager or managers that will administer the offering will be selected by the Holders of a majority in the principal amount at maturity of such
Registrable Securities included in such offering, subject to the consent of the Company (which will not be unreasonably withheld or delayed). 
  
 No Holder of Registrable Securities may participate in any underwritten registration hereunder unless such Holder (i) agrees to sell its Registrable
Securities on the basis reasonably provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and (ii) completes and 

  

 20 

 
executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting
arrangements. 
  
 (b) Each Holder of Registrable Securities
agrees, if requested (pursuant to a timely written notice) by the managing underwriters in an underwritten offering made pursuant to a Shelf Registration Statement, not to effect any private sale or distribution (including a sale pursuant to Rule
144(k) and Rule 144A, but excluding non-public sales to any of its affiliates, officers, directors, employees and controlling persons) of any of the Notes, in the case of an underwritten offering of the Notes, or the Common Stock, in the case of an
underwritten offering of shares of Common Stock constituting Registrable Securities, during the period beginning 10 days prior to, and ending 90 days after, the closing date of such underwritten offering. 
  
 The foregoing provisions of Section 9(b) shall not apply to any Holder of
Registrable Securities if such Holder is prevented by applicable statute or regulation from entering into any such agreement. 
  
 (c) If any of the Registrable Securities covered by any Shelf Registration are to be sold in an underwritten offering, the underwriters, their controlling
persons and their respective officers, directors, employees, representatives and agents shall be entitled to indemnity (substantially similar to the indemnity set forth in Section 7 of the Agreement) from the Company and the Holders, which indemnity
may be set forth in an underwriting agreement. 
  
 SECTION 10. Miscellaneous. 
  
 (a)
Remedies. The Company acknowledges and agrees that any failure by the Company to comply with its obligations under Section 3 hereof may result in material irreparable injury to the Initial Purchasers or the Holders for which there is no
adequate remedy at law, that it will not be possible to measure damages for such injuries precisely and that, in the event of any such failure, the Initial Purchasers or any Holder may obtain such relief as may be required to specifically enforce
the Company’s obligations under Section 3 hereof. The Company further agrees to waive the defense in any action for specific performance that a remedy at law would be adequate. 
  
 (b) No Inconsistent Agreements. The Company will not, on or after the date of this Agreement, enter into any
agreement with respect to its securities that is inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof. The Company has not previously entered into any agreement (which has not
expired or been terminated) granting any registration rights with respect to its securities to any Person, except for (i) that certain Registration Agreement dated as of September 2, 1988 (the “Knox Agreement”), 

  

 21 

 
whereby certain of the Company’s executive officers and Robert A. Knox, a director of the Company, have certain demand registration rights and
“piggyback” registration rights, at the Company’s expense, with respect to registration under the Securities Act of all their shares of Common Stock and (ii) that certain Registration Rights Agreement dated as of January 28, 2002 by
and among the Company, Credit Suisse First Boston Corporation and Salomon Smith Barney Inc. The rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the rights granted to the holders of the
Company’s securities under any agreement in effect on the date hereof. 
  
 (c) No Piggybacks on Shelf Registration Statement. With the exception of registration rights granted in the Knox Agreement as disclosed in Section 10(b) hereof, the Company shall not grant to any of its
security holders (other than the holders of Registrable Securities in such capacity) the right to include any of its securities in any Shelf Registration Statement provided for in this Agreement other than the Registrable Securities. 
  
 (d) Amendments and Waivers. The provisions of this Agreement may not
be amended, modified or supplemented, and waivers or consents to or departures from the provisions hereof may not be given unless (i) in the case of Section 4 hereof and this Section 10(d)(i), the Company has obtained the written consent of Holders
of all outstanding Registrable Securities and (ii) in the case of all other provisions hereof, the Company has obtained the written consent of Holders of a majority of the outstanding principal amount at maturity of Registrable Securities (excluding
Registrable Securities held by the Company or its Affiliates). 
  
 (e) Third Party Beneficiary. The Holders shall be third party beneficiaries to the agreements made hereunder between the Company, on the one hand, and the Initial Purchasers, on the other hand, and shall have the right to enforce
such agreements directly to the extent they may deem such enforcement necessary or advisable to protect its rights or the rights of Holders hereunder. 
  
 (f) Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery, first-class mail
(registered or certified, return receipt requested), telex, telecopier, or air courier guaranteeing overnight delivery: 
  
 (i) if to a Holder, at the address set forth on the records of the Registrar under the Indenture, with a copy to the Registrar under the
Indenture; and 
  

 22 

	 (ii) if to the Company:
	  	Health Management Associates, Inc.
	 	  	 5811 Pelican Bay Boulevard, Suite 500

	 	  	Naples, FL 34108-2710
	 Telecopier No.:
	  	(239) 594-7368
	 Attention:
	  	Timothy R. Parry, Esq.,
	 	  	Senior Vice President and General Counsel
		
	 With a copy to:
	  	Harter, Secrest & Emery LLP
	 	  	1600 Bausch & Lomb Place
	 	  	Rochester, NY 14604-2070
	 Telecopier No.:
	  	(585) 232-2152
	 Attention:
	  	Craig S. Wittlin, Esq.

  
 All such notices and
communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if telecopied; and on the
next business day, if timely delivered to an air courier guaranteeing overnight delivery. 
  
 Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee at the address specified in the Indenture. 
  
 (g) Successors and Assigns. This Agreement shall inure to the benefit
of and be binding upon the successors and assigns of each of the parties, including without limitation and without the need for an express assignment, subsequent Holders of Registrable Securities; provided, that nothing herein shall be deemed
to permit any assignment, transfer or other disposition of Registrable Securities in violation of the terms hereof or of the Purchase Agreement or the Indenture. If any transferee of any Holder shall acquire Registrable Securities in any manner,
whether by operation of law or otherwise, such Registrable Securities shall be held subject to all of the terms of this Agreement, and by taking and holding such Registrable Securities such Person shall be conclusively deemed to have agreed to be
bound by and to perform all of the terms and provisions of this Agreement, including the restrictions on resale set forth in this Agreement and, if applicable, the Purchase Agreement, and such Person shall be entitled to receive the benefits hereof.

  
 (h) Counterparts. This Agreement may be executed in any
number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 
  
 (i) Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof. 
  

 23 

 (j) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW RULES THEREOF. 
  
 (k) Severability. In the event that any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable, the validity, legality and
enforceability of any such provision in every other respect and of the remaining provisions contained herein shall not be affected or impaired thereby. 
  
 (l) Entire Agreement. This Agreement is intended by the parties as a final expression of their agreement and intended to be a complete and
exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein with
respect to the registration rights granted with respect to the Registrable Securities. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter. 
  
 (m) EDGAR Filings. Whenever pursuant to this Agreement the Company is
required to provide the Holders copies of documents filed pursuant to the Exchange Act, such documents shall be deemed to have been provided to such Holders upon posting on the Commission’s EDGAR database. 
  

 24 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

  

	HEALTH MANAGEMENT ASSOCIATES, INC.
		
	 By:
	 	 /S/    TIMOTHY R. PARRY

	 	 	 Name:  Timothy R. Parry

	 	 	 Title:    Senior Vice President

  

	 BANC OF AMERICA SECURITIES LLC

		
	 By:
	 	 /S/    DEREK
DILLON

	 	 	 Name:  Derek Dillon

	 	 	 Title:    Managing Director

	
	 LEHMAN BROTHERS INC.

		
	 By:
	 	 /S/    MICHAEL E.
SHERMAN

	 	 	 Name:  Michael E. Sherman

	 	 	 Title:    Managing Director

	
	 WACHOVIA CAPITAL MARKETS LLC

		
	 By:
	 	 /S/    MARY LOUISE
GUTTMAN

	 	 	 Name:  Mary Louise Guttman

	 	 	 Title:    Senior Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}]]