Document:

EX-4.1

 Exhibit 4.1 
  

QUIDEL CORPORATION 
 as Issuer

 AND 
 THE BANK OF NEW YORK
MELLON TRUST COMPANY, N.A. 
 as Trustee 
  

 
  

First Supplemental Indenture 

Dated as of December 8, 2014 

to Indenture 
 Dated as of
December 1, 2014 
 3.25% Convertible Senior Notes due 2020 

 
  

 TABLE OF CONTENTS 

 

					
	 	    	 	  	Page

					
	ARTICLE 1
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
			
	Section 1.01.	    	Scope of Supplemental Indenture	  	1
	Section 1.02.	    	Definitions	  	2
	Section 1.03.	    	Section References	  	10
	
	ARTICLE 2
	THE NOTES
			
	Section 2.01.	    	Designation, Amount and Issuance of Notes	  	10
	Section 2.02.	    	Form of the Notes	  	10
	Section 2.03.	    	 Date and Denomination of Notes; Payment at the Stated Maturity Date; Payment of Interest
	  	11
	Section 2.04.	    	Registrar, Paying Agent and Conversion Agent	  	11
	Section 2.05.	    	Registration of Transfer and Exchange	  	12
	Section 2.06.	    	Global Securities	  	12
	Section 2.07.	    	Purchase and Cancellation	  	13
	Section 2.08.	    	Additional Notes	  	13
	Section 2.09.	    	Mutilated, Destroyed, Lost or Stolen Notes	  	14
	
	ARTICLE 3
	PARTICULAR COVENANTS OF THE COMPANY
			
	Section 3.01.	    	Covenants in Original Indenture	  	14
	Section 3.02.	    	Compliance Certificate	  	14
	Section 3.03.	    	Further Instruments and Acts	  	14
	
	ARTICLE 4
	REPURCHASE OF NOTES
			
	Section 4.01.	    	Right To Require Repurchase Upon a Fundamental Change	  	14
	
	ARTICLE 5
	CONVERSION
			
	Section 5.01.	    	Conversion Privilege; Conversion Rate	  	18
	Section 5.02.	    	 Adjustment to Conversion Rate Upon Conversion in Connection with a Make-Whole Fundamental Change
	  	20
	Section 5.03.	    	Exercise of Conversion Privilege	  	22
	Section 5.04.	    	Settlement of Conversion Obligation	  	23
	Section 5.05.	    	Fractions of Shares	  	26
	Section 5.06.	    	Adjustment of Conversion Rate	  	26
	Section 5.07.	    	Notice of Adjustments of Conversion Rate	  	36
	Section 5.08.	    	Company To Reserve Common Stock	  	36

  
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	Section 5.09.	    	Taxes on Conversions	  	37
	Section 5.10.	    	Certain Covenants	  	37
	Section 5.11.	    	Cancellation of Converted Notes	  	37
	Section 5.12.	    	Provision in Case of Effect of Reclassification, Consolidation, Merger or Sale	  	38
	Section 5.13.	    	Responsibility of Trustee for Conversion Provisions	  	39
	Section 5.14.	    	Notice to Holders Prior to Certain Actions	  	40
	
	ARTICLE 6
	NO REDEMPTION
			
	Section 6.01	    	No Redemption	  	40
	Section 6.02	    	No Sinking Fund.	  	40
	
	ARTICLE 7
	EVENTS OF DEFAULT; REMEDIES
			
	Section 7.01.	    	Original Indenture	  	40
	Section 7.02.	    	Events of Default	  	41
	Section 7.03.	    	Acceleration of Maturity; Rescission and Annulment	  	42
	Section 7.04.	    	Limitation on Suits	  	44
	Section 7.05.	    	Unconditional Right of Holders To Receive Payment	  	44
	Section 7.06.	    	Waiver of Defaults and Events of Default	  	44
	Section 7.07.	    	Undertaking for Costs	  	45
	Section 7.08.	    	Waiver of Stay or Extension Laws	  	45
	
	ARTICLE 8
	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
			
	Section 8.01.	    	Original Indenture	  	45
	Section 8.02.	    	Consolidation, Merger and Sale of Assets	  	45
	Section 8.03.	    	Successor Substituted	  	46
	
	ARTICLE 9
	REPORTS BY COMPANY
			
	Section 9.01.	    	Reports by Company.	  	46
	
	ARTICLE 10
	SATISFACTION AND DISCHARGE
			
	Section 10.01.	    	Original Indenture	  	47
	Section 10.02.	    	Discharge of Indenture	  	47
	Section 10.03.	    	Deposited Monies and Shares To Be Held in Trust by Trustee	  	47
	Section 10.04.	    	Paying Agent or Conversion Agent To Repay Monies and Shares Held	  	47
	Section 10.05.	    	Reinstatement	  	48

  
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	ARTICLE 11
	SUPPLEMENTAL INDENTURES
			
	Section 11.01.	    	Supplemental Indentures Without Consent of Holders	  	48
	Section 11.02.	    	Supplemental Indentures with Consent of Holders	  	49
	
	ARTICLE 12
	MISCELLANEOUS
			
	Section 12.01.	    	Successors	  	50
	Section 12.02.	    	Multiple Originals	  	50
	Section 12.03.	    	Calculations	  	50
	Section 12.04.	    	Benefits of Supplemental Indenture	  	51
	Section 12.05.	    	Withholding Taxes.	  	51
	Section 12.06.	    	Waiver of Jury Trial	  	51
	Section 12.07.	    	Governing Law	  	51
		
	SCHEDULE	  	
			
	Schedule A	    	Make-Whole Table	  	
		
	EXHIBIT	  	
			
	Exhibit A	    	Form of Security	  	

  
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 FIRST SUPPLEMENTAL INDENTURE, dated as of December 8, 2014, between Quidel Corporation, a
corporation duly organized and existing under the laws of the State of Delaware, as issuer (the “Company”), having its principal office at 12544 High Bluff Drive, Suite 200, San Diego, California 92130, and The Bank of New York
Mellon Trust Company, N.A., as trustee (the “Trustee”) to the Indenture dated as of December 1, 2014, between the Company and the Trustee (the “Original Indenture”; the Original Indenture as amended and
supplemented hereby and as it may be further amended and supplemented in accordance herewith and therewith, with respect to the Notes, the “Indenture”). 

RECITALS OF THE COMPANY 

WHEREAS, the Company executed and delivered the Original Indenture to the Trustee to provide for, among other things, the issuance, from time
to time, of the Company’s Securities, in an unlimited aggregate principal amount, in one or more series to be established by the Company under, and authenticated and delivered as provided in, the Original Indenture; 

WHEREAS, Section 2.01 of the Original Indenture provides for the Company to establish Securities of any series pursuant to a supplemental
indenture, and Section 10.01(4) of the Original Indenture provides for the Company and the Trustee to enter into any such supplemental indenture to create a series of Securities and establish its terms as permitted by the Original Indenture;

 WHEREAS, the Board of Directors has duly adopted resolutions authorizing the Company to execute and deliver this Supplemental Indenture;

 WHEREAS, pursuant to the terms of the Original Indenture, the Company desires to provide for the establishment of a new series of its
Securities to be known as its “3.25% Convertible Senior Notes due 2020” (the “Notes”, and each $1,000 principal amount thereof, a “Note”), the form and substance of the Notes and the terms, provisions and
conditions thereof to be set forth as provided in the Original Indenture and this Supplemental Indenture; and 
 WHEREAS, all things
necessary to make the Notes, when executed by the Company and authenticated and delivered hereunder and duly issued by the Company, the valid and legally binding obligations of the Company, and to make this Supplemental Indenture a valid and legally
binding agreement of the Company, in accordance with the terms of the Notes and this Supplemental Indenture, have been done; 
 NOW,
THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH, for and in consideration of the premises and the purchases of the Notes by the Holders thereof, it is mutually agreed, for the benefit of the Company and the equal and proportionate benefit of all
Holders of the Notes, as follows: 
 ARTICLE 1 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 

Section 1.01. Scope of Supplemental Indenture. The changes, modifications and supplements to the Original Indenture effected by
this Supplemental Indenture shall be 

  
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applicable only with respect to, and shall only govern the terms of, the Notes, and shall not apply to any other Securities that may be issued under the Original Indenture unless a supplemental
indenture with respect to such other Securities specifically incorporates such changes, modifications and supplements. With respect to the Notes, the provisions of this Supplemental Indenture shall supplement and, to the extent they are inconsistent
therewith, supersede any corresponding provisions in the Original Indenture. 

Section 1.02.   Definitions.  For all purposes of the Indenture, except as otherwise expressly provided
or unless the context otherwise requires: 
 (i)        the terms defined in this
Article 1 have the meanings assigned to them in this Article and include the plural as well as the singular; 

(ii)       all words, terms and phrases used in this Supplemental Indenture and defined in
the Original Indenture (but not otherwise defined herein) shall have the same meanings as in the Original Indenture; 

(iii)      all other terms used herein that are defined in the Trust Indenture Act, either
directly or by reference therein, have the meanings assigned to them therein; 
 (iv)      all
accounting terms not otherwise defined herein have the meanings assigned to them in accordance with GAAP; and 

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

“Additional Interest” has the meaning specified in Section 7.03. 

“Additional Notes” has the meaning specified in Section 2.08. 

“Additional Shares” has the meaning specified in Section 5.02(a). 

“Averaging Period” has the meaning specified in Section 5.06(e). 

“Bid Solicitation Agent” means, initially, the Trustee, or any other person the Company may appoint in the future (which may
include the Company) to solicit bids in order to determine a Trading Price for the Notes as may be required pursuant to Section 5.01(b)(ii). 

“Business Day” means any day other than a Saturday, a Sunday or a day on which state or federally chartered banking
institutions in New York, New York are authorized or required to be closed. 
 “Capital Stock” means any and all shares,
interests, participations, rights or other equivalents (however designated) of corporate stock and limited liability company interests and, with respect to partnerships, partnership interests (whether general or limited) and any other interest or
participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, such partnership. 

  
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 “Cash Settlement” has the meaning specified in Section 5.04(a). 

A “Change in Control” will be deemed to have occurred if any of the following occurs after the Issue Date: 

(1)        any “person” or “group” within the meaning of
Section 13(d) under the Exchange Act (other than the Company, any of its wholly-owned Subsidiaries or any employee benefit plan of the Company) files a Schedule TO or any schedule, form or report under the Exchange Act disclosing that such
person or group has become the direct or indirect “beneficial owner,” as defined in Rule 13d-3 under the Exchange Act, of shares of the Company’s voting stock representing 50% or more of the total voting power of all outstanding
classes of the Company’s voting stock entitled to vote generally in elections of directors; 

(2)        the consummation of (A) any recapitalization, reclassification or
change of Common Stock (other than changes resulting from a subdivision or combination) as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities, other property or assets; (B) any share exchange,
consolidation, merger or similar transaction involving the Company pursuant to which the Common Stock will be converted into cash, securities or other property; or (C) any sale, lease or other transfer in one transaction or a series of
transactions of all or substantially all of the consolidated assets of the Company and its Subsidiaries, taken as a whole, to any Person other than one of the Company’s wholly-owned Subsidiaries; provided that a transaction described in
clauses (A) or (B) above (i) pursuant to which the holders of all classes of the common equity of the Company immediately prior to such transaction own, directly or indirectly, as a result of such transaction, 50% or more of the
voting power of all classes of common equity of the surviving corporation or transferee Person or the parent thereof immediately after such transaction in substantially the same proportions as such ownership immediately prior to such transaction, or
(ii) effected solely to change the Company’s jurisdiction of incorporation or to form a holding company for the Company and that results in a share exchange or reclassification or similar exchange of the outstanding Common Stock solely
into shares of common stock or other common equity interests of the surviving entity (excluding cash payments for fractional shares and cash payments made in respect of dissenters’ rights) shall not constitute a “Change in Control”;
or 
 (3)        the holders of the Company’s Capital Stock approve any plan or
proposal for the liquidation or dissolution of the Company (whether or not otherwise in compliance with the Indenture). 
 Notwithstanding
the foregoing, a Change in Control shall not be deemed to have occurred if at least 90% of the consideration paid for the Common Stock in a transaction or transactions described in clause (2) of this definition, excluding cash payments for any
fractional share and cash payments made pursuant to dissenters’ appraisal rights, consists of shares of common stock (or other common equity interests or depositary receipts, or similar certificates, representing common equity interests) traded
on The New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or any of their respective successors), or will be so traded immediately following such transaction, and, as a result therefrom, such consideration becomes
the Reference Property for the Notes pursuant to Section 5.12 or any supplemental indenture executed pursuant to such Section. 

  
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 “Clause A Distribution” has the meaning specified in Section 5.06(c). 

“Clause B Distribution” has the meaning specified in Section 5.06(c). 

“Clause C Distribution” has the meaning specified in Section 5.06(c). 

“close of business” means 5:00 p.m., New York City time. 

“Closing Sale Price” of the Common Stock on any Trading Day means the closing per share sale price (or, if no closing sale
price is reported, the average of the last bid and last ask prices or, if more than one in either case, the average of the average last bid and the average last ask prices) at 4:00 p.m. (New York City time) on such date as reported in composite
transactions for The NASDAQ Global Select Market or, if the Common Stock is not listed on The NASDAQ Global Select Market, the principal U.S. national or regional securities exchange on which the Common Stock is listed for trading or, if the Common
Stock is not listed on a U.S. national or regional securities exchange, as reported by OTC Markets Group Inc. at 4:00 p.m. (New York City time) on such date (or in either case the then-standard closing time for regular trading on the relevant
exchange or trading system); provided that if the Closing Sale Price of the Common Stock is not so reported, the “Closing Sale Price” shall be the average of the mid-point of the last bid and ask prices for the Common Stock on the
relevant date from each of at least three nationally recognized independent investment banking firms selected by the Company for this purpose. 

“Combination Settlement” has the meaning specified in Section 5.04(a). 

“Common Stock” means the shares of common stock, par value $0.001 per share, of the Company as they exist on the Issue Date
(or any shares of Capital Stock of the Company resulting from a subdivision or combination or a change to the par value of such common stock), subject to Section 5.12. 

“Company” means the Person named as the “Company” in the first paragraph of this instrument until a successor
Person shall have become such pursuant to the applicable provisions of the Indenture, and thereafter “Company” shall mean such successor Person. 

“Conversion Agent” has the meaning specified in Section 2.04. 

“Conversion Date” has the meaning specified in Section 5.03(a). 

“Conversion Notice” has the meaning specified in Section 5.03(a). 

“Conversion Period” means, with respect to any conversion of a Note: 

(i)        if the relevant Conversion Date occurs prior to the Final Settlement Method
Election Date, the 25 consecutive Trading Day period beginning on, and including, the third Trading Day immediately following the related Conversion Date; and 

(ii)       if the relevant Conversion Date occurs on or after the Final Settlement Method
Election Date, the 25 consecutive Trading Day period beginning on, and including, the 27th Scheduled Trading Day immediately preceding the Stated Maturity Date. 

  
 4 

 “Conversion Price” means, in respect of each Note, as of any date $1,000
divided by the Conversion Rate as of such date. 
 “Conversion Rate” means initially 31.1891 shares of Common Stock
per $1,000 principal amount of Notes, subject to adjustment as set forth herein. 
 “custodian” means the Trustee, as the
initial custodian with respect to the Global Securities, or any successor entity. 
 “Daily Conversion Value” means, for
each Trading Day during the Conversion Period, one-twenty fifth (1/25th) of the product of (i) the Conversion Rate on such Trading Day and (ii) the Daily VWAP of the Common Stock on such Trading Day. 

“Daily Measurement Value” has the meaning specified in Section 5.04(a)(v). 

“Daily Settlement Amount” has the meaning specified in Section 5.04(a)(v). 

“Daily VWAP” of the Common Stock (or any security that is part of the Reference Property underlying the Notes, if
applicable), in respect of any Trading Day, means the per share volume-weighted average price of the Common Stock (or other security) as displayed under the heading “Bloomberg VWAP” on Bloomberg Page “QDEL <equity> AQR” (or
its equivalent successor if such page is not available, or the Bloomberg Page for any security that is part of such Reference Property, if applicable) in respect of the period from the scheduled open of trading until the scheduled close of trading
of the primary trading session on such Trading Day or, if such volume-weighted average price is unavailable (or such Reference Property is not a security), the market value of one share of the Common Stock (or such Reference Property) on such
Trading Day as determined by a nationally recognized independent investment banking firm retained by the Company for such purpose. The Daily VWAP will be determined without regard to after-hours trading or any other trading outside the regular
trading session. 
 “Default” means any event that is or with the passage of time or the giving of notice or both would
become an Event of Default. 
 “Depository” has the meaning set forth in the Original Indenture, which shall initially be
The Depository Trust Company until a successor Depository shall have become such pursuant to the applicable provisions of the Indenture, and thereafter “Depository” shall mean such successor Depository. 

“Effective Date” has the meaning specified in Section 5.02(b). 

“Event of Default” has the meaning specified in Section 7.02. 

  
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 “Ex-Dividend Date” means the first date on which the shares of the Common Stock
trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of Common Stock on such exchange or
market (in the form of due bills or otherwise) as determined by such exchange or market. 
 “Exchange Act” means the U.S.
Securities Exchange Act of 1934, as amended. 
 “Expiration Date” has the meaning specified in Section 5.06(e). 

“Expiration Time” has the meaning specified in Section 5.06(e). 

“Filing Failure” has the meaning specified in Section 7.03. 

“Final Settlement Method Election Date” means the 30th Scheduled Trading Day prior to the Stated Maturity Date . 

“Free Convertibility Date” means September 15, 2020. 

“Fundamental Change” means the occurrence of a Change in Control or a Termination of Trading. 

“Fundamental Change Expiration Time” has the meaning specified in Section 4.01(a)(i). 

“Fundamental Change Purchase Date” has the meaning specified in Section 4.01(a). 

“Fundamental Change Purchase Notice” has the meaning specified in Section 4.01(a)(i). 

“Fundamental Change Purchase Price” has the meaning specified in Section 4.01(a). 

“Fundamental Change Purchase Right Notice” has the meaning specified in Section 4.01(b). 

“GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting
Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment
of the accounting profession, in each case, as in effect in the United States from time to time. 
 “Indenture” has the
meaning specified in the first paragraph of this Supplemental Indenture. 
 “Interest” means, when used with reference to
the Notes, any interest payable under the terms of the Notes, including Additional Interest, if any. 
 “Interest Payment
Date” means each June 15 and December 15 of each year, commencing with June 15, 2015. 

  
 6 

 “Irrevocable Election” has the meaning specified in Section 5.04(a)(iii).

 “Issue Date” means December 8, 2014. 

“Make-Whole Fundamental Change” means (i) any Change in Control (determined after giving effect to any exceptions or
exclusions from such definition but without giving effect to the exclusion set forth in clause (i) of the proviso in clause (2) of the definition thereof), or (ii) any Termination of Trading. 

“Market Disruption Event” means (i) a failure by The NASDAQ Global Select Market, or if the Common Stock is not listed
on The NASDAQ Global Select Market, the principal other U.S. national or regional securities exchange on which the Common Stock is then listed, to open for trading or (ii) the occurrence or existence for more than a one half-hour period in the
aggregate on any Scheduled Trading Day for the Common Stock of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by The NASDAQ Global Select Market or otherwise) in the Common Stock or in any
options contracts or future contracts relating to the Common Stock, and such suspension or limitation occurs or exists at any time before 1:00 p.m. (New York City time) on such day. 

“Maximum Conversion Rate” has the meaning specified in Section 5.02(b). 

“Merger Transaction” has the meaning specified in Section 8.02. 

“Note” or “Notes” has the meaning specified in the fourth paragraph of the Recitals of the Company. 

“open of business” means 9:00 a.m., New York City time. 

“Original Indenture” has the meaning specified in the first paragraph of this Supplemental Indenture. 

“Outstanding” means, with respect to the Notes, notwithstanding the provisions of Section 2.08 of the Original
Indenture, any Notes authenticated by the Trustee except (i) Notes cancelled by it, (ii) Notes delivered to it for cancellation and (iii)(A) Notes replaced pursuant to Section 2.07 of the Original Indenture, on and after the time such
Note is replaced (unless the Trustee and the Company receive proof satisfactory to them that such Note is held by a bona fide purchaser), (B) Notes converted pursuant to Article 5 hereof, on and after their Conversion Date, (C) any and all
Notes, as of the Stated Maturity Date, if the Paying Agent holds, in accordance with this Indenture, money sufficient to pay all of the Notes then payable, and (D) any and all Notes owned by the Company or any other obligor upon the Notes or
any Affiliate of the Company or of such other obligor, except that in determining whether the Trustee shall be protected in relying upon any request, demand, authorization, direction, notice consent or waiver or other action that is to be made by a
requisite principal amount of Outstanding Notes, only such Notes which a responsible officer of the trustee knows to be so owned shall be disregarded. 

“Paying Agent” means the “Paying Agent” (within the meaning of the Original Indenture) with respect to the Notes,
which shall initially be the Trustee. 

  
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 “Physical Securities” means permanent certificated Notes in registered form
issued in denominations of $1,000 principal amount and integral multiples thereof. 
 “Place of Payment” has the meaning
specified in Section 2.04. 
 “Record Date” means, with respect to the payment of Interest, the June 1 (whether
or not a Business Day) immediately preceding an Interest Payment Date on June 15 and the December 1 (whether or not a Business Day) immediately preceding an Interest Payment Date on December 15. 

“Reference Property” has the meaning specified in Section 5.12(a). 

“Registrar” has the meaning specified in the Original Indenture, which, with respect to the Notes, shall initially be the
Trustee. 
 “Relevant Distribution” has the meaning specified in Section 5.06(c). 

“Scheduled Trading Day” means (i) a day that is scheduled to be a Trading Day (as defined in this Section 1.01
depending on whether or not the purpose for the use of “Scheduled Trading Day” or “Trading Day” is to determine Settlement Amounts pursuant to Section 5.04) on the principal U.S. national or regional securities exchange or
market on which the Common Stock is listed for trading or (ii) if the Common Stock is not listed on any such securities exchange or market, a Business Day. 

“Securities Act” means the U.S. Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated
thereunder. 
 “Settlement Amount” has the meaning specified in Section 5.04(a)(iv). 

“Settlement Method” means the election of the Company as set forth in this Supplemental Indenture of settling each Settlement
Amount through Cash Settlement, Stock Settlement or Combination Settlement. 
 “Share Exchange Event” has the meaning
specified in Section 5.12(a). 
 “Significant Subsidiary” means a Subsidiary that is a “significant subsidiary”
as defined in Regulation S-X under the Exchange Act. 
 “Specified Dollar Amount” has the meaning specified in
Section 5.04(a)(v). 
 “Spin-Off” has the meaning specified in Section 5.06(c). 

“Stated Maturity Date” means December 15, 2020. 

“Stock Price” means, with respect to a Make-Whole Fundamental Change, (i) in the case of a Make-Whole Fundamental Change
described in clause (2) of the definition of Change in Control in which the Common Stock is acquired solely for cash, the price paid per share of Common Stock in the Change in Control, or (ii) in the case of any other Make-Whole

  
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Fundamental Change, the average of the Closing Sale Prices of Common Stock over the five Trading Day period ending on the Trading Day immediately preceding the Effective Date of such other
Make-Whole Fundamental Change. 
 “Stock Settlement” has the meaning specified in Section 5.04(a). 

“Supplemental Indenture” means this instrument, as it may from time to time be supplemented or amended by one or more
indentures supplemental hereto entered into pursuant to the applicable provisions hereof. 
 “Termination of Trading” means
the Common Stock (or other Reference Property into which the Notes are convertible) ceases to be listed or quoted on any of The New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or any of their respective
successors). 
 “Trading Day” means (a) except for purposes of determining Settlement Amounts pursuant to
Section 5.04, a day on which (i) The NASDAQ Global Select Market or, if the Common Stock is not listed on The NASDAQ Global Select Market, the principal other U.S. national or regional securities exchange on which the Common Stock is then
listed is open for trading, in each case, with a scheduled closing time of 4:00 p.m. (New York City time) or the then-standard closing time for regular trading on the relevant exchange or market, and (ii) a Closing Sale Price for the Common
Stock is available on such securities exchange or market, or (b) for purposes of determining Settlement Amounts pursuant to Section 5.04 only, a day on which (i) there is no Market Disruption Event and (ii) The NASDAQ Global
Select Market or, if the Common Stock is not listed on The NASDAQ Global Select Market, the principal other U.S. national or regional securities exchange on which the Common Stock is then listed is open for trading, in either case, with a scheduled
closing time of 4:00 p.m. (New York City time) or the then-standard closing time for regular trading on the relevant exchange or market. For the purposes of both (a) and (b) of this definition, if the Common Stock is not so listed,
“Trading Day” means a Business Day. 
 “Trading Price” of the Notes means, on any date of determination, the
average of the secondary market bid quotations per $1,000 principal amount of Notes obtained by the Bid Solicitation Agent for $2,000,000 principal amount of the Notes at approximately 3:30 p.m. (New York City time) on such determination date from
three independent nationally recognized securities dealers that the Company shall select; provided that if at least three such bids cannot reasonably be obtained, but two such bids can reasonably be obtained, then the average of these two
bids shall be used; provided further that, if at least two such bids cannot reasonably be obtained, but one such bid can reasonably be obtained, this one bid shall be used. If on any date of determination (i) the Bid Solicitation Agent
cannot reasonably obtain at least one bid for $2,000,000 principal amount of the Notes from an independent nationally recognized securities dealer, (ii) if the Company shall have failed to request the Bid Solicitation Agent (if other than the
Company) to obtain bids when required or (iii) if the Bid Solicitation Agent has failed to obtain bids when required, then, in any such case, the Trading Price per $1,000 principal amount of Notes will be deemed to be less than 98% of the
product of the Closing Sale Price of the Common Stock and the Conversion Rate for the Notes on such date. 

  
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 “Trading Price Condition” has the meaning specified in Section 5.01(b)(ii).

 “Trigger Event” has the meaning specified in Section 5.06(c). 

“U.S.” or “United States” means the United States of America. 

“Valuation Period” has the meaning specified in Section 5.06(c). 

Section 1.03. Section References. References to Articles, Sections, Exhibits, Annexes and Schedules are to Articles, Sections,
Exhibits, Annexes and Schedules of this Supplemental Indenture unless otherwise specified. 
 ARTICLE 2 

THE NOTES 

Section 2.01.  Designation, Amount and Issuance of Notes.  The Securities to be issued hereunder shall be
designated as the “3.25% Convertible Senior Notes due 2020.” The Notes will be initially limited to an aggregate principal amount of $172,500,000, subject to Section 2.08 of this Supplemental Indenture and except for Notes
authenticated and delivered upon registration or transfer of, or in exchange for, or in lieu of, other Notes pursuant to Sections 2.06, 2.07, 2.12, 2.15 and 10.05 of the Original Indenture and Sections 2.06, 4.01 and 5.03 of this Supplemental
Indenture. 
 Section 2.02.  Form of the Notes.  The Notes and the Trustee’s certificate of
authentication to be borne by such Notes shall be substantially in the form set forth in Exhibit A hereto. The terms and provisions contained in the form of Notes attached as Exhibit A hereto shall constitute, and are hereby expressly made, a part
of this Supplemental Indenture and, to the extent applicable, the Company and the Trustee, by their execution and delivery of this Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. 

Subject to Section 2.06 of this Supplemental Indenture, all of the Notes will be represented by one or more Global Securities. The
transfer and exchange of beneficial interests in any such Global Securities shall be effected through the Depository in accordance with the Indenture and the applicable procedures of the Depository. Except as provided in Section 2.06 of this
Supplemental Indenture, beneficial owners of a Global Security shall not be entitled to have certificates registered in their names, will not receive or be entitled to receive physical delivery of certificates in definitive form and will not be
considered Holders of such Global Security. 
 Any Global Security shall represent such of the Outstanding Notes as shall be specified
therein and shall provide that it shall represent the aggregate amount of Outstanding Notes from time to time endorsed thereon and that the aggregate amount of Outstanding Notes represented thereby may from time to time be increased or reduced to
reflect issuances, repurchases, conversions, transfers or exchanges permitted hereby. Any endorsement of a Global Security to reflect the amount of any increase or decrease in the amount of Outstanding Notes represented thereby shall be made by the
Trustee or the custodian for the Global Security, at the direction of the Trustee, in such manner and upon instructions given by the Holder of such Notes in accordance with the Indenture. 

  
 10 

 Section 2.03. Date and Denomination of Notes; Payment at the Stated Maturity Date;
Payment of Interest. The Notes shall be issuable in registered form without coupons in denominations of $1,000 principal amount and integral multiples thereof. Each Note shall be dated the date of its authentication and shall accrue
Interest from the date specified on the face of the form of Notes attached as Exhibit A hereto or from the most recent date to which Interest has been duly paid or provided for. 

On the Stated Maturity Date, each Holder shall be entitled to receive the principal amount of the Notes held. Payments in respect of the
principal and interest on Global Securities representing the Notes registered in the name of the Depository or its nominee shall be payable to the Depository or its nominee, as the case may be, in its capacity as the registered holder under the
Indenture. In the case of Physical Securities, payments will be made in U.S. dollars at the office of the Trustee or, at the Company’s option, by check mailed to the Holder’s registered address (or, if requested by a Holder of more than
$2,000,000 principal amount of Notes, by wire transfer to the account designated by such Holder). The Company shall make any required interest payments to the Person in whose name each Note is registered at the close of business on the Record Date
for the interest payment. 
 Notwithstanding anything to the contrary, if the Stated Maturity Date or any Interest Payment Date or
Fundamental Change Purchase Date or any Conversion Date falls, or if any payment, delivery, notice or other action by the Company is otherwise due, on a day that is not a Business Day, then any action to be taken on such date need not be taken on
such date, but may be taken on the immediately following Business Day with the same force and effect as if taken on such date, and no interest will accrue and no Default shall occur on account of such delay. 

Section 2.04. Registrar, Paying Agent and Conversion Agent.  The Company agrees that the office or agency
maintained by the Company pursuant to Sections 2.03 of the Original Indenture, with respect to the Notes, shall be located in the continental United States. The Company shall also maintain an office in the continental United States where the Notes
may be presented for conversion (the “Conversion Agent”). The Company initially appoints the Trustee as the Conversion Agent and initially designates the office or agency maintained by the Company in New York City pursuant to
Section 2.03 of the Original Indenture as the place of payment for the Notes (the “Place of Payment”). 
 The Company
shall enter into an appropriate agency agreement with any Conversion Agent not a party to this Supplemental Indenture. The agreement shall implement the provisions of this Supplemental 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 Conversion Agent, the Company shall act as Conversion Agent. 

In addition to Section 2.03 of the Original Indenture, the Company may remove any Conversion Agent upon 30 days’ prior written
notice to such Conversion Agent and to the Trustee; provided that no such removal shall become effective until (1) acceptance of an appointment by a successor as evidenced by an appropriate agreement entered into by the Company and such
successor Conversion Agent and delivered to the Trustee or (2) notification to the Trustee that the Company shall serve as Conversion Agent until the appointment of a successor in accordance with clause (1) above. The Conversion Agent may
resign at any time 

  
 11 

 
upon written notice; provided that the Trustee may resign as Conversion Agent only if the Trustee also resigns as Trustee in accordance with Section 7.08 of the Original Indenture. If
the Conversion Agent receives any cash or shares of Common Stock hereunder, the Conversion Agent agrees to hold such cash or shares in trust for the sole benefit of the relevant Holders. 

The Company may appoint additional Conversion Agents and may approve any change in the office through which any Conversion Agent acts. 

Section 2.05.  Registration of Transfer and Exchange.  Notwithstanding anything in Section 2.06 of the
Original Indenture to the contrary, neither the Company nor the Trustee nor any Registrar shall be required to exchange or register a transfer of (a) any Notes or portions thereof surrendered for conversion pursuant to Article 5, or
(b) any Notes or portions thereof tendered for repurchase (and not withdrawn) pursuant to Section 4.01. 
 The third sentence of
the first paragraph of Section 2.06 of the Original Indenture shall not apply to the Notes, and any reference in the Original Indenture to such provision shall be deemed to refer to this Section 2.05. 

Section 2.06. Global Securities.  The following provisions shall apply to Global Securities in addition to those
provisions in Section 2.15 of the Original Indenture that are applicable to the Notes: 

(a)        As set forth in Section 2.15 of the Original Indenture, the Company will issue, and
the Trustee upon receipt of a written order from the Company will authenticate, Physical Securities in the name of the Depository’s participants, in accordance with the Depository’s procedures, in exchange for the Global Security if
(i) the Depository notifies the Company at any time that it is unwilling or unable to continue as Depository for the Global Securities and a successor Depository is not appointed within 90 days; or (ii) the Depository ceases to be
registered as a clearing agency under the Exchange Act and a successor Depository is not appointed within 90 days. In addition, if an Event of Default with respect to the Notes has occurred and is continuing and any beneficial owner of an interest
in a Global Security requests that its beneficial interest be exchanged for a Physical Security, the Company will issue and the Trustee upon receipt of a written order from the Company will authenticate Physical Securities in the name of such
beneficial owner in exchange for the corresponding portion of such Global Security, which the Depository will distribute to such beneficial owner. 

Notwithstanding anything to the contrary in the Indenture or the Notes, following the occurrence and during the continuance of an Event of
Default, any beneficial owner of a Global Security may directly enforce against the Company, without the consent, solicitation, proxy, authorization or any other action of the Depository or any other Person, such beneficial owner’s right to
exchange its beneficial interest in such Global Security for a Physical Security in accordance with this Section 2.06. 
 Physical
Securities issued in exchange for a Global Security or any portion thereof pursuant to this Section 2.06(a) shall be issued in definitive, fully registered form, without Interest coupons, shall have an aggregate principal amount equal to that
of such Global Securities or portion thereof to be so exchanged, shall be registered in such names and be in such 

  
 12 

 
authorized denominations as the Depository shall designate and shall bear any legends required under the Indenture. The form of legend set forth in Section 2.15(f) of the Original Indenture
shall be deemed replaced for purposes of the Notes with the legend set forth on the Form of Face of Security in Exhibit A hereto. 

(b)        Upon any request by the Depository or a beneficial owner in the circumstances described in
Section 2.06(a), the Company will promptly make available to the Trustee a sufficient supply of Physical Securities in definitive, fully registered form, without Interest coupons. 

(c)        At such time as all interests in a Global Security have been repurchased, converted,
cancelled or exchanged for Physical Securities, such Global Security shall, upon receipt thereof, be canceled by the Trustee in accordance with standing procedures and instructions existing between the Depository and the custodian for the Global
Security. At any time prior to such cancellation, if any interest in a Global Security is repurchased, converted, cancelled or exchanged for Physical Securities, the principal amount of such Global Security shall, in accordance with the standing
procedures and instructions existing between the Depository and the custodian for the Global Security, be appropriately reduced, and an endorsement shall be made on such Global Security, by the Trustee or the custodian for the Global Security, at
the direction of the Trustee, to reflect such reduction. The Company shall promptly notify the Trustee in writing of any repurchase, conversion, cancellation or exchange effected through any Paying Agent, Registrar or Conversion Agent other than the
Trustee. 
 Section 2.07.  Purchase and Cancellation.  The Company may, to the extent permitted by law, and
directly or indirectly (regardless of whether such Notes are surrendered to the Company), purchase Notes in the open market or by tender offer at any price or by private agreement. Notwithstanding anything to the contrary in the Original Indenture,
the Company shall cause any Notes so purchased (other than Notes purchased pursuant to cash-settled swaps or other derivatives) to be surrendered to the Trustee for cancellation pursuant to Section 2.10 of the Original Indenture. 

Section 2.08. Additional Notes. The Company may, from time to time without the consent of the Holders of Outstanding
Notes, reopen the Indenture and issue additional Notes under the Indenture (“Additional Notes”) with the same terms (other than date of issuance, the issue price, if applicable, and the date from which Interest will initially
accrue, if applicable) as the Notes issued on the Issue Date in an unlimited amount; provided that if any such Additional Notes are not fungible for U.S. federal income tax purposes with the Notes issued on the Issue Date, such Additional
Notes shall have a separate CUSIP number. The Notes issued on the Issue Date and any Additional Notes shall be treated as a single class for all purposes under the Indenture, including waivers, amendments and offers to purchase and will vote
together as one class on all matters with respect to the Notes. 

  
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 ARTICLE 3 

PARTICULAR COVENANTS OF THE COMPANY 

Section 3.01. Covenants in Original Indenture. The following covenants of the Company are made in addition to the
covenants set forth in Article Four of the Original Indenture. 
 Section 3.02. Compliance
Certificate. Notwithstanding anything to the contrary in Section 4.03 of the Original Indenture, the Company shall deliver to the Trustee (i) within 120 days after the end of each fiscal year of the Company (beginning with the
fiscal year ending December 31, 2014) an Officers’ Certificate stating whether or not the signers thereof have knowledge of any Event of Default that occurred during the previous year and whether the Company, to the Officers’
knowledge, is in default in the performance or observance of any of the terms, provisions and conditions of the Indenture and (ii) within 30 days after the occurrence thereof, written notice of any events that would constitute an Event of
Default, their status and what action the Company is taking or proposing to take in respect thereof. Any notice required to be given under this Section 3.02 shall be delivered to a Trust Officer. 

Section 3.03. 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 the Indenture. 

ARTICLE 4 
 REPURCHASE OF NOTES

 Section 4.01. Right To Require Repurchase Upon a Fundamental Change.  

(a)        If a Fundamental Change occurs, each Holder of Notes shall have the option to require the
Company to purchase for cash all or any portion of such Holder’s Notes that is equal to $1,000, or an integral multiple of $1,000, on the day of the Company’s choosing that is not less than 20 or more than 35 Business Days after the date
the Company shall provide Holders with the Fundamental Change Purchase Right Notice, subject to extension to comply with applicable law (such day, the “Fundamental Change Purchase Date”), at a purchase price (the
“Fundamental Change Purchase Price”) equal to 100% of the principal amount of the Notes to be purchased, plus accrued and unpaid Interest to but excluding the Fundamental Change Purchase Date (unless the Fundamental Change
Purchase Date is after a Record Date and on or prior to the Interest Payment Date to which it relates, in which case Interest accrued to the Interest Payment Date shall be paid to Holders of the Notes as of such preceding Record Date, and the
Fundamental Change Purchase Price the Company is required to pay to the Holder surrendering the Note for purchase shall be equal to 100% of the principal amount of such Note subject to purchase and shall not include any accrued and unpaid Interest).

 Purchases of Notes under this Section 4.01 shall be made, at the option of the Holder thereof, upon: 

(i)        delivery to the Trustee (or other Paying Agent appointed by the Company) by
a Holder of a duly completed notice (the “Fundamental Change Purchase Notice”) in the form set forth on the reverse of the Note during the period between the delivery of the Fundamental Change Purchase Right Notice and the close of
business on the second Business Day immediately preceding the Fundamental Change Purchase Date (the “Fundamental Change Expiration Time”); and 

  
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 (ii)       delivery or book-entry transfer of
the Notes to the Trustee (or other Paying Agent appointed by the Company) at any time after delivery of the Fundamental Change Purchase Notice (together with all necessary endorsements if the Notes are Physical Securities) at the Corporate Trust
Office of the Trustee (or other Paying Agent appointed by the Company), such delivery being a condition to receipt by the Holder of the Fundamental Change Purchase Price therefor. 

The Fundamental Change Purchase Notice shall state: 

(A)      if Physical Securities, the certificate numbers of Notes to be delivered for purchase;

 (B)      the portion of the principal amount of Notes to be purchased, which must be
$1,000 or an integral multiple thereof; and 
 (C)      that the Notes are to be purchased by
the Company pursuant to the applicable provisions of the Notes and the Indenture; 
 provided, however, that if the Notes are Global
Securities, the Fundamental Change Purchase Notice must comply with applicable Depository procedures. 
 The Company shall be required to
purchase, pursuant to subsection (d), Notes that have been validly surrendered and not withdrawn on the Fundamental Change Purchase Date pursuant to subsection (c) of this Section 4.01. 

The Trustee (or other Paying Agent appointed by the Company) shall promptly notify the Company of the receipt by it of any Fundamental Change
Purchase Notice or written notice of withdrawal thereof in accordance with the provisions of subsection (c) of this Section 4.01. 

Any Note that is to be purchased only in part shall be, if a Physical Security, surrendered to the Trustee (with, if the Company or the
Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), and the Company shall execute, and the
Trustee shall authenticate and make available for delivery to the Holder of such Note without service charge, a new Note or Notes, containing identical terms and conditions, each in an authorized denomination in aggregate principal amount equal to
and in exchange for the unpurchased portion of the principal of the Note so surrendered, or, if a Global Security, the Trustee, or the custodian at the direction of the Trustee, shall make a notation on such Global Security as to the reduction in
the principal amount represented thereby for the purchased portion of the principal of the Note. 

(b)       The Company shall give the Trustee and each Holder a written notice of the Fundamental Change
within five Business Days after the occurrence of such Fundamental Change (such notice, the “Fundamental Change Purchase Right Notice”) and issue a press release announcing the occurrence of such Fundamental Change (and make the
press release 

  
 15 

 
available on its website). Such Fundamental Change Purchase Right Notice shall be delivered either by first class mail or, with respect to Global Securities, in accordance with the
Depository’s notice procedures. 
 The Fundamental Change Purchase Right Notice shall specify (if applicable): 

(i)        the events causing the Fundamental Change; 

(ii)       the effective date of the Fundamental Change and whether the Fundamental Change
is a Make-Whole Fundamental Change; 
 (iii)      the last date on which a Holder may exercise
the purchase right pursuant to this Article 4; 
 (iv)      the Fundamental Change Purchase
Price; 
 (v)       the Fundamental Change Purchase Date; 

(vi)      the Conversion Rate and any adjustments to the Conversion Rate, and the procedures
required for exercise of the Holder’s conversion right; 
 (vii)     the procedures required
for exercise of the purchase option upon the Fundamental Change, and for withdrawal of a Fundamental Change Purchase Notice; and 

(viii)     the name and address of the Paying Agent and the Conversion Agent. 

No failure of the Company to give the foregoing notices and no defect therein shall limit the Holders’ repurchase rights or affect the
validity of the proceedings for the repurchase of the Notes pursuant to this Section 4.01. 

(c)        A Fundamental Change Purchase Notice may be withdrawn, in whole or in part, by means of a
written notice of withdrawal delivered to the Paying Agent in accordance with the Fundamental Change Purchase Right Notice at any time until the Fundamental Change Expiration Time, specifying: 

(i)        the principal amount of the Notes with respect to which such notice of
withdrawal is being submitted, 
 (ii)       if Physical Securities, the certificate
numbers of the withdrawn Notes, 
 (iii)      the principal amount, if any, of such Note that
remains subject to the original Fundamental Change Purchase Notice, which portion must be in principal amounts of $1,000 or an integral multiple of $1,000; 

provided, however, that if the Notes are not Physical Securities, the withdrawal notice must comply with appropriate procedures of the
Depository. 
 (d)        On or prior to 11:00 a.m., New York City time, on the Fundamental Change
Purchase Date, the Company shall deposit with the Trustee (or other Paying Agent appointed by 

  
 16 

 
the Company or if the Company is acting as its own Paying Agent, set aside, segregate and hold in trust) an amount of money sufficient to purchase on the Fundamental Change Purchase Date all of
the Notes to be repurchased on such date at the Fundamental Change Purchase Price. Subject to receipt of funds and/or Notes by the Trustee (or other Paying Agent appointed by the Company), payment for each Note surrendered for purchase (and not
withdrawn) prior to the Fundamental Change Expiration Time shall be made on the later of (x) the Fundamental Change Purchase Date with respect to such Note (provided the Holder has satisfied the conditions to the payment of the
Fundamental Change Purchase Price in this Section 4.01), and (y) the time of book-entry transfer or the delivery of such Note to the Trustee (or other Paying Agent appointed by the Company) by the Holder thereof in the manner required by
this Section 4.01, by mailing checks for the amount payable to the Holders of such Notes entitled thereto as they shall appear in the Security Register; provided, however, that payments to the Depository shall be made by wire
transfer of immediately available funds to the account of the Depository or its nominee. The Trustee (or other Paying Agent) shall, promptly after such payment and upon written demand by the Company, return to the Company any funds in excess of the
Fundamental Change Purchase Price. 
 (e)        If the Trustee (or other Paying Agent appointed by
the Company) holds money sufficient to purchase on the Fundamental Change Purchase Date all the Notes or portions thereof that are to be purchased as of the Business Day following the Fundamental Change Purchase Date, then on and after the
Fundamental Change Purchase Date (i) such Notes shall cease to be Outstanding and Interest, if any, shall cease to accrue on such Notes, whether or not book-entry transfer of the Notes has been made and whether or not the Notes have been
delivered to the Trustee or Paying Agent, and (ii) all other rights of the Holders of such Notes shall terminate, other than (A) the right to receive the Fundamental Change Purchase Price upon delivery or transfer of the Notes, and
(B) if the Fundamental Change Purchase Date falls after a Record Date and on or prior to the related Interest Payment Date the right of the Holder on such Record Date to receive the Interest payable on such Interest Payment Date. 

(f)        In connection with any offer to purchase the Notes pursuant to this Article 4, the Company
shall: 
 (i)        comply with the provisions of Rule 13e-4, Rule 14e-1 and any
other tender offer rules under the Exchange Act to the extent any such rules are applicable; 

(ii)       file a Schedule TO or any successor or similar schedule under the Exchange Act,
if required; and 
 (iii)      otherwise comply with all applicable federal and state
securities laws, 
 in each case, so as to permit the rights and obligations under this Article 4 to be exercised in the time and in the manner specified
herein. 
 (g)        Notwithstanding anything to the contrary herein, no Notes may be purchased by
the Company at the option of Holders upon a Fundamental Change if the principal amount of the Notes has been accelerated, and such acceleration has not been rescinded, on or prior to the relevant Fundamental Change Purchase Date (except in the case
of an acceleration resulting from the Company’s default in the payment of the Fundamental Change Purchase Price with respect to such Notes). 

  
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 ARTICLE 5 

CONVERSION 

Section 5.01. Conversion Privilege; Conversion Rate. 

(a)        Subject to the conditions and during the periods described in Section 5.01(b), and
upon compliance with the provisions of this Article 5, a Holder shall have the right to surrender for conversion all or any portion (if the portion to be converted is $1,000 principal amount or an integral multiple thereof) of its Notes at any time
until the close of business on the Business Day immediately preceding the Free Convertibility Date. On and after the Free Convertibility Date and until the close of business on the second Scheduled Trading Day immediately prior to the Stated
Maturity Date, a Holder shall have the right to surrender all or any portion (if the portion to be converted is $1,000 principal amount or an integral multiple thereof) of its Notes for conversion, regardless of whether any of the conditions
described in section 5.01(b) have been satisfied, upon compliance with the provisions of this Article 5. Upon conversion of Notes, the holder shall be entitled to receive the amounts due upon conversion specified in Section 5.04 based on the
applicable Conversion Rate then in effect. The Conversion Rate in effect at any time shall be subject to adjustment in the manner set forth herein. 

(b)        Subject to the conditions and during the periods described in this section 5.01(b), a
Holder shall have the right to surrender its Notes for conversion at any time until the close of business on the Business Day immediately preceding the Free Convertibility Date. 

(i)        Prior to the close of business on the Business Day immediately preceding
the Free Convertibility Date, a Holder may surrender all or any portion of its Notes for conversion during any calendar quarter commencing after the quarter ending March 31, 2015 (and only during such calendar quarter) if the Closing Sale Price
of the Common Stock for at least twenty (20) Trading Days (whether or not consecutive) in the period of thirty (30) consecutive Trading Days ending on the last Trading Day of the calendar quarter immediately preceding the calendar quarter
in which the conversion occurs, is more than 130% of the Conversion Price of the Notes in effect on each applicable Trading Day. 

(ii)       If, prior to the close of business on the Business Day immediately preceding the
Free Convertibility Date, the Trading Price per $1,000 principal amount of the Notes on each Trading Day during any five consecutive Trading Day period is less than 98% of (x) the Closing Sale Price of the Common Stock on such Trading Day
multiplied by (y) the Conversion Rate in effect on such Trading Day, a Holder may surrender its Notes for conversion at any time during the following five consecutive Business Days (the “Trading Price Condition”). 

  
 18 

 The Bid Solicitation Agent (if other than the Company) shall have no obligation
to determine the Trading Price of the Notes unless the Company shall have requested such determination; and the Company shall have no obligation to make such request (or, if the Company is acting as the Bid Solicitation Agent, it shall have no
obligation to determine the Trading Price) unless a Holder of a Note provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Notes would be less than 98% of the product of the Closing Sale Price of the
Common Stock and the applicable Conversion Rate. At such time, the Company shall instruct the Bid Solicitation Agent (if other than the Company) to determine, or if the Company is acting as the Bid Solicitation Agent, the Company shall determine,
the Trading Price per $1,000 principal amount of the Notes beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the
Closing Sale Price of the Common Stock and the applicable Conversion Rate. If the Trading Price Condition has been met, the Company shall so notify the Holders of the Notes and the Trustee. If, at any time after the Trading Price Condition has been
met, the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Closing Sale Price of the Common Stock and the Conversion Rate for such date, the Company shall so notify the Holders of the Notes and
the Trustee. 
 (iii)      If, prior to the close of business on the Business Day immediately
preceding the Free Convertibility Date, the Company elects to issue or distribute, as the case may be, to all or substantially all holders of the Common Stock: 

(x)        rights, options or warrants entitling them to subscribe for or purchase,
for a period expiring within 45 days from the announcement date for such distribution, the Common Stock at a price per share that is less than the average of the Closing Sale Prices of Common Stock for the 10 consecutive Trading Day period ending
on, and including, the Trading Day immediately preceding the announcement date for such issuance; or 

(y)        cash, debt securities (or other evidence of indebtedness) or other assets
or securities (including, for the avoidance of doubt, any rights, options or warrants that are not described in clause (x) above, but excluding dividends or distributions described in Section 5.06(a)), which distribution has a per share
value exceeding 10% of the Closing Sale Price of the Common Stock as of the Trading Day immediately preceding the declaration date for such distribution, 

then, in either case, the Company shall notify Holders at least 35 Scheduled Trading Days prior to the Ex-Dividend Date for such distribution.
Once the Company has given such notice, Holders may surrender their Notes for conversion at any time until the earlier of the close of business on the Business Day immediately preceding the Ex-Dividend Date and the Company’s announcement that
such issuance or distribution will not take place. A Holder may not convert any of its Notes under this clause (iii) if the Company provides that Holders of the Notes shall participate, at the same time and upon the same terms as holders of
Common Stock and as a result of holding the Notes, in the relevant distribution described above without having to convert their Notes as if they held a number of shares 

  
 19 

 
of Common Stock equal to the Conversion Rate on the record date for the distribution multiplied by the principal amount (expressed in thousands) of Notes held by such Holder. 

(iv)      If ( x) a Fundamental Change or a Make-Whole Fundamental Change occurs or (y) the
Company is a party to (1) a consolidation, merger, binding share exchange, pursuant to which the Common Stock would be converted into cash, securities or other assets or (2) a sale, conveyance, transfer or lease of all or substantially all
of the assets of the Company and its Subsidiaries, on a consolidated basis (other than, in the case of clause (1) and (2), any such transaction to which the Company is a party solely for the purpose of changing its jurisdiction of
incorporation, and which results in a reclassification, conversion or exchange of the Common Stock solely into common stock of the surviving entity, excluding cash payments for fractional shares and cash payments made in respect of dissenters’
appraisal rights), the Notes may be surrendered for conversion at any time from or after the date on which the Company shall provide the notice specified in the following sentence until the close of business (I) if such transaction or event is
a Fundamental Change, on the Business Day immediately preceding the related Fundamental Change Purchase Date, and, (II) otherwise, on the 35th Business Day immediately following the effective date for such transaction or event. The Company will
notify the Holders and the Trustee of any such transaction: 
 (A)       as promptly as
practicable following the date the Company publicly announces such transaction but in no event less than 35 Scheduled Trading Days prior to the anticipated effective date of such transaction; or 

(B)       if the Company does not have knowledge of such transaction at least 35 Scheduled
Trading Days prior to the anticipated effective date of such transaction, within two Business Days of the date upon which the Company receives notice, or otherwise becomes aware, of such transaction, but in no event later than the actual effective
date of such transaction. 
 Section 5.02.  Adjustment to Conversion Rate Upon Conversion in Connection with a Make-Whole
Fundamental Change. 
 (a)        If a Holder elects to convert its Notes in connection with a
Make-Whole Fundamental Change, the Conversion Rate shall be increased by an additional number of shares of Common Stock (the “Additional Shares”) determined pursuant to Section 5.02(b). A conversion of Notes will be deemed for
these purposes to be “in connection with” a Make-Whole Fundamental Change if the notice of conversion of such Notes is received by the Conversion Agent from, and including, the Effective Date of the Make-Whole Fundamental Change up to, and
including, the close of business on the Business Day immediately prior to the related Fundamental Change Purchase Date or, if such Make-Whole Fundamental Change is not also a Fundamental Change, the 35th Business Day immediately following the
Effective Date for such Make-Whole Fundamental Change. 
 Upon surrender of Notes for conversion in connection with a Make-Whole Fundamental
Change, the Company shall, at its option, satisfy its conversion obligation by Stock Settlement, 

  
 20 

 
Cash Settlement or Combination Settlement in the manner specified in Section 5.04. However, if the consideration paid to holders of the Common Stock in any Make-Whole Fundamental Change
described in the clause (2) of the definition of Change in Control is composed entirely of cash, then, for any conversion of Notes following the Effective Date of such Make-Whole Fundamental Change, the payment and delivery obligations upon the
conversion of a Note shall be calculated based solely on the Stock Price for such Make-Whole Fundamental Change and shall, for each $1,000 principal amount of Notes converted, be deemed to be an amount of cash equal to the product of (i) the
Conversion Rate in effect on the applicable Conversion Date (as increased by any number of Additional Shares required by this Section 5.02) multiplied by (ii) such Stock Price. In such event, the Company will pay such amount of cash
to a converting Holder on the third Business Day following the applicable Conversion Date. 

(b)       The number of Additional Shares, if any, by which the Conversion Rate shall be increased for
conversions in connection with a Make-Whole Fundamental Change as set forth in Section 5.02(a) shall be determined by reference to the table attached as Schedule A hereto, based on the date on which the Make-Whole Fundamental Change occurs or
becomes effective (the “Effective Date”) and the Stock Price. The exact Stock Price and Effective Date may not be set forth in the table attached as Schedule A hereto, in which case if the Stock Price is: 

(i)        between two Stock Prices in the table or the Effective Date is between two
Effective Dates in the table, the number of Additional Shares shall be determined by a straight-line interpolation between the number of Additional Shares set forth for the higher and lower Stock Prices and the earlier and later Effective Dates
based on a 365-day year, as applicable; 
 (ii)       in excess of $120.00 per share
(subject to adjustment in the same manner as the Stock Prices pursuant to subsection (c) below), no Additional Shares shall be added to the Conversion Rate; and 

(iii)      less than $23.75 per share (subject to adjustment in the same manner as the Stock
Prices pursuant to subsection (c) below), no Additional Shares shall be added to the Conversion Rate. 
 Notwithstanding anything herein to the
contrary, the Company shall not increase the Conversion Rate to more than 42.1052 shares of Common Stock (the “Maximum Conversion Rate”) per $1,000 principal amount of Notes pursuant to the events described in this
Section 5.02; provided the Company shall adjust the Maximum Conversion Rate upon the occurrence of any event for which, and in the same manner in which, it must adjust the Conversion Rate pursuant to Section 5.06. 

(c)           The Stock Prices set forth in the first row of the table in Schedule A
hereto (i.e., the column headers) and the number of Additional Shares in the table in Schedule A hereto shall be adjusted as of any date on which the Conversion Rate of the Notes is adjusted pursuant to Section 5.06. The adjusted Stock
Prices shall equal the Stock Prices applicable immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the applicable Conversion Rate immediately prior to the adjustment giving rise to the Stock Price
adjustment and the denominator of which is the Conversion Rate as so adjusted. The number of Additional Shares within the table attached as Schedule A hereto shall each be adjusted in the same manner and at the same time as the Conversion Rate as
set forth in Section 5.06. 
 (d)           The Company shall notify the Holders
of the Effective Date of any Make-Whole Fundamental Change and issue a press release announcing such Effective Date no later than five Business Days after such Effective Date (and make the press release available on its website). 

  
 21 

 Section 5.03.  Exercise of Conversion Privilege 

(a)        The right of conversion attaching to any Note may be exercised (i) in the case of a
Global Security, by (A) book-entry transfer of such Note to the Conversion Agent through the facilities of the Depository and compliance with the applicable conversion procedures of the Depository in effect at that time, (B) if required,
paying funds equal to Interest payable on the next Interest Payment Date to which such Holder is not entitled as set forth in Section 5.04(d) and, (C) if required, paying all taxes or duties, if any, as set forth in Section 5.09 and
(ii) in the case of a Physical Security, by (A) completing, manually signing and delivering an irrevocable written notice to the Conversion Agent in the form set forth in Exhibit A hereto (or a facsimile thereof) (a “Conversion
Notice”) at the office of the Conversion Agent and stating in writing therein the principal amount of Notes to be converted and the name or names (with addresses) in which such Holder wishes the certificate or certificates for any shares of
Common Stock, if any, to be delivered upon settlement of the conversion obligation to be registered, (B) surrendering such Note, duly endorsed to the Company or in blank (and accompanied by appropriate endorsement and transfer documents), at
the office of the Conversion Agent, (C) if required, paying all transfer or similar taxes, if any, as set forth in Section 5.09 and (D) if required, paying funds equal to Interest payable on the next Interest Payment Date to which
such Holder is not entitled as set forth in Section 5.04(d). The Company shall pay any documentary, stamp or similar issue or transfer tax on the issuance of any shares of Common Stock upon conversion of the Notes, unless the tax is due because
the Holder requests such shares to be issued in a name other than the Holder’s name, in which case the Holder shall pay the tax. A Note shall be deemed to have been converted on the date (the “Conversion Date”) that the Holder
has complied with the requirements set forth in this Section 5.03. 
 If the Holder of a Note has submitted such Note for purchase upon
a Fundamental Change, such Holder may only convert such Note if it withdraws its Fundamental Change Purchase Notice prior to the Fundamental Change Expiration Time, in accordance with Section 4.01(c). 

(b)        In case any Note shall be surrendered for partial conversion, the Company shall execute and
the Trustee shall, upon receipt of an Officers’ Certificate, authenticate and deliver to or upon the written order of the Holder of the Note so surrendered, without charge to such Holder, a new Note or Notes in authorized denominations in an
aggregate principal amount equal to the unconverted portion of the surrendered Notes. 

  
 22 

 Section 5.04. Settlement of Conversion Obligation.  The provisions of
this Section 5.04 shall be subject to the provisions of Section 5.08. 
 (a)        Upon
conversion of any Note, the Company may choose to satisfy its conversion obligation by paying or delivering, as the case may be, to converting Holders, in respect of each $1,000 principal amount of Notes being converted, (1) solely cash
(“Cash Settlement”), (2) shares of Common Stock, together with cash, if applicable, in lieu of any fractional share of Common Stock in accordance with Section 5.05 (“Stock Settlement”) or (3) a
combination of cash and shares of Common Stock, if any, with a particular Specified Dollar Amount (“Combination Settlement”), as set forth in this Section 5.04. 

(i)        All conversions on or after the Final Settlement Method Election Date shall
be settled using the same Settlement Method. If the Company has not delivered to the Trustee and all Holders a written notice of its election of a Settlement Method on or prior to the Final Settlement Method Election Date, the Company shall, with
respect to any conversions on or after the Final Settlement Method Election Date, be deemed to have elected to satisfy its conversion obligation using Combination Settlement with a Specified Dollar Amount of $1,000, unless the Company has previously
irrevocably elected another Settlement Method or Combination Settlement with a different Specified Dollar Amount as described in Section 5.04(a)(iii). 

(ii)       For all conversions prior to the Final Settlement Method Election Date, the
Company shall use the same Settlement Method for all conversions occurring on any given Conversion Date. Except for any conversions that occur on or after the Final Settlement Method Election Date, or following any Irrevocable Election as described
in Section 5.04(a)(iii), the Company shall not have any obligation to use the same Settlement Method with respect to conversions that occur on different Conversion Dates. Until the Final Settlement Method Election Date, unless the Company has
previously made the Irrevocable Election pursuant to Section 5.04(a)(iii), the Company may choose in respect of one Conversion Date to satisfy its conversion obligation using one Settlement Method and choose in respect of another Conversion
Date to satisfy its conversion obligation using another Settlement Method. If the Company elects a particular Settlement Method in connection with any conversion prior to the Final Settlement Method Election Date, unless the Company has previously
made an Irrevocable Election pursuant to Section 5.04(a)(iii), the Company shall inform Holders so converting through the Trustee of the Settlement Method the Company has selected (including the Specified Dollar Amount, if applicable), no later
than the close of business on the second Trading Day immediately following the related Conversion Date. If the Company does not timely make such an election with respect to a conversion, or if the Company elects Combination Settlement in respect of
its conversion obligation in respect of a conversion, but the Company does not timely notify converting Holders of the Specified Dollar Amount per $1,000 principal amount of Notes, the Company shall be deemed to have elected Combination Settlement
with a Specified Dollar Amount of $1,000 per $1,000 principal amount of Notes with respect to such conversion. 

(iii)      Prior to the Final Settlement Method Election Date, the Company may, by written
notice to the Trustee and the Holders, at its option irrevocably elect Stock Settlement, Cash Settlement or Combination Settlement with a particular Specified Dollar Amount, for all conversions with a Conversion Date subsequent to the Company’s
delivery of such notice (any such election, an “Irrevocable Election”). 

  
 23 

 (iv)      The amount of cash, if any, and the
number of shares of Common Stock, if any, that the Company is required to pay or deliver, as the case may be, in respect of any conversion of Notes (the “Settlement Amount”) shall be computed as follows: 

(A)      if the Company elects to satisfy its conversion obligation through Stock Settlement,
the Company shall deliver through its stock transfer agent to the converting Holder in respect of each $1,000 principal amount of Notes being converted a number of shares of Common Stock equal to the Conversion Rate in effect on the Conversion Date
(together with cash in lieu of fractional shares as set forth in Section 5.05); 

(B)      if the Company elects to satisfy its conversion obligation through Cash Settlement,
the Company shall pay to the converting Holder, in respect of each $1,000 principal amount of Notes being converted, cash in an amount equal to the sum of the Daily Conversion Values for each of the 25 consecutive Trading Days during the related
Conversion Period; and 
 (C)      if the Company elects (or is deemed to have elected) to
satisfy its conversion obligation through Combination Settlement, the Company shall deliver to Holders, in respect of each $1,000 principal amount of Notes being converted, an amount of cash and shares of Common Stock equal to the sum of the Daily
Settlement Amounts for each of the 25 consecutive Trading Days during the related Conversion Period. 

(v)       The “Daily Settlement Amount” for each $1,000 aggregate
principal amount of Notes validly surrendered for conversion, and for each of the 25 consecutive Trading Days of the applicable Conversion Period, will consist of: 

(A)      cash equal to the lesser of (1) a dollar amount per $1,000 principal amount of
Notes to be received upon conversion as specified by the Company pursuant to Section 5.04(a)(i) or (ii), as the case may be (the “Specified Dollar Amount”), if any, divided by 25 (such quotient being referred to as the
“Daily Measurement Value”) and (2) the Daily Conversion Value; and 

(B)      to the extent the Daily Conversion Value for such Trading Day exceeds the Daily
Measurement Value for such Trading Day, a number of shares of Common Stock equal to (1) the difference between the Daily Conversion Value and the Daily Measurement Value, divided by (2) the Daily VWAP of the Common Stock for such
Trading Day. 
 (vi)      Payment or delivery, as the case may be, of the consideration due
upon conversion shall be made (A) in the case of Stock Settlement, three Business Days after the Conversion Date, unless such Conversion Date occurs following the Record Date immediately preceding the Stated Maturity Date, in which case the
Company shall make such delivery (and payment, if applicable) on the Stated Maturity Date or (B) in the case of any other Settlement Method, three Business Days after the last Trading Day of the Conversion Period; provided,
however, that, in the case of clause (A) or (B), if prior to 

  
 24 

 
the Conversion Date for any converted Notes the Common Stock has been replaced by Reference Property consisting solely of cash pursuant to Section 5.12, the Company shall pay the
consideration due in respect of conversion on the third Business Day immediately following the related Conversion Date, and, notwithstanding anything to the contrary herein, no Conversion Period shall apply to those conversions. 

(b)        Each conversion shall be deemed to have been effected immediately prior to the close of
business on the relevant Conversion Date; provided, however, that the Person in whose name any shares of Common Stock shall be issuable upon such conversion shall be treated as the holder of record of such shares as of the close of
business on the Conversion Date (in the case of Stock Settlement) or the last Trading Day of the relevant Conversion Period (in any other case). 

(c)        Any cash amounts due upon conversion by a Holder of Notes surrendered for conversion shall
be paid by the Company to such Holder, or such Holder’s nominee or nominees. In addition, the Company shall issue, or shall cause to be issued, any shares of Common Stock due upon conversion to such Holder, or such Holder’s nominee or
nominees, certificates or a book-entry transfer through the Depository (together with any cash in lieu of fractional shares). 

(d)        Upon conversion, a Holder shall not receive any additional cash payment for accrued and
unpaid Interest, if any, except as set forth in this clause (d), and the Company shall not adjust the Conversion Rate to account for accrued and unpaid Interest. Except as set forth in this subsection (d), the Company’s settlement of the
conversion of a Note pursuant to this Section 5.04 shall be deemed to satisfy its obligation to pay the principal amount of such Note and accrued and unpaid Interest thereon, if any, to, but not including, the relevant Conversion Date. As a
result, accrued and unpaid Interest, if any, to, but not including, the Conversion Date will be deemed to be paid in full rather than cancelled, extinguished or forfeited. Upon conversion of a Note into a combination of cash and shares of Common
Stock, accrued and unpaid Interest shall be deemed to be paid first out of the cash paid upon such conversion, except as described in the immediately succeeding paragraph. 

Notwithstanding the foregoing, if a Note is converted after the close of business on a Record Date, the Holder of such Note at the close of
business on such Record Date shall receive the Interest payable on such Note on the corresponding Interest Payment Date notwithstanding such conversion. A Note surrendered for conversion by a Holder after the close of business on any Record Date but
prior to the open of business on the immediately following Interest Payment Date must be accompanied by payment of an amount equal to the Interest that will be payable on such Interest Payment Date on the Note so converted; provided,
however, that no such payment need be made: 
 (i)        if the Company has
specified a Fundamental Change Purchase Date that is after a Record Date and on or prior to the corresponding Interest Payment Date; 

(ii)       with respect to any Note surrendered for conversion following the Record Date
immediately preceding the Stated Maturity Date; or 
 (iii)      only to the extent of any
overdue Interest, if any overdue Interest remains unpaid at the time of conversion with respect to such Note. 

  
 25 

 As a result of the foregoing, the Company will pay Interest on the Stated Maturity Date on all Notes converted
after the Record Date preceding the Stated Maturity Date, and converting Holders will not be required to pay equivalent interest amounts. 

Section 5.05. Fractions of Shares. The Company shall not issue any fractional share of Common Stock upon conversion of the Notes
and shall instead pay cash in lieu of any fractional share of Common Stock otherwise issuable upon conversion based on the Daily VWAP of the Common Stock on the relevant Conversion Date (in the case of Stock Settlement) or based on the Daily VWAP on
the last Trading Day of the relevant Conversion Period (in the case of any other Settlement Method). For each Note surrendered for conversion, if the Company has elected to satisfy its conversion obligation through Combination Settlement, the full
number of shares that shall be issued upon conversion thereof shall be computed on the basis of the aggregate Daily Settlement Amounts for the applicable Conversion Period and any fractional share remaining after such computation shall be paid in
cash. In addition, if more than one Note shall be surrendered for conversion at one time by the same Holder, the number of full shares that shall be issued upon conversion thereof shall be computed on the basis of the aggregate principal amount of
the Notes (or specified portions thereof) so surrendered. 
 Section 5.06. Adjustment of Conversion Rate. The Conversion Rate
shall be adjusted from time to time by the Company as follows: 
  

	(a)	If the Company issues solely shares of Common Stock as a dividend or distribution on all or substantially all shares of Common Stock, or if the Company subdivides or combines the Common Stock, the Conversion Rate shall
be adjusted based on the following formula: 

  

					
	CR = CR0 x  	 	     OS    
	 	
	 	OS0	 	

 where, 
  

			
	CR0 =	    	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such dividend or distribution, or immediately prior to the open of business on the effective date of such subdivision or combination
of Common Stock, as the case may be;
		
	CR =	    	the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for such dividend or distribution, or immediately after the open of business on the effective date of such subdivision or combination of
Common Stock, as the case may be;
		
	OS0 =	    	the number of shares of Common Stock outstanding immediately prior to the open of business on the Ex-Dividend Date for such dividend or distribution, or immediately prior to the open of business on the effective date of such
subdivision or combination of Common Stock, as the case may be; and
		
	OS =	    	the number of shares of Common Stock that would be outstanding immediately after giving effect to such dividend, distribution, subdivision or combination of Common Stock, as the case may be.

  
 26 

 Any adjustment made under this subsection (a) shall become effective immediately after the
open of business on the Ex-Dividend Date for such dividend or distribution, or immediately after the open of business on the effective date of such subdivision or combination of Common Stock, as the case may be. If such dividend, distribution,
subdivision or combination described in this subsection (a) is declared but not so paid or made, the Conversion Rate shall be immediately readjusted, effective as of the date the Board of Directors determines not to pay such dividend or
distribution or to effect such subdivision or combination, to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared or such subdivision or combination had not been announced. 

 

	(b)	If the Company distributes to all or substantially all holders of the Common Stock any rights, options or warrants entitling them for a period of not more than 45 calendar days from the announcement date for such
distribution to subscribe for or purchase shares of Common Stock, at a price per share less than the average of the Closing Sale Prices of the Common Stock for the 10 consecutive Trading Day period ending on, and including, the Trading Day
immediately preceding the announcement date for such distribution, the Conversion Rate shall be increased based on the following formula: 

  

					
	CR = CR0 x  	 	
   OS0 + X   

	  	
	 	OS0 + Y	  	

 where, 
  

			
	CR0 =	    	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such distribution;
		
	CR =	    	the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for such distribution;
		
	OS0 =	    	the number of shares of Common Stock outstanding immediately prior to the open of business on the Ex-Dividend Date for such distribution;
		
	X =	    	the total number of shares of Common Stock issuable pursuant to such rights, options or warrants; and
		
	Y =	    	the number of shares of Common Stock equal to the aggregate price payable to exercise such rights, options or warrants divided by the average of the Closing Sale Prices of Common Stock over the 10 consecutive Trading Day
period ending on, and including, the Trading Day immediately preceding the announcement date for such distribution.

 Any increase made under this subsection (b) shall be made successively whenever any such rights,
options or warrants are issued and shall become effective immediately after 

  
 27 

 
the open of business on the Ex-Dividend Date for such distribution. To the extent that shares of Common Stock are not delivered after the expiration of such rights, options or warrants, the
Conversion Rate shall be decreased, as of the date of such expiration, to the Conversion Rate that would then be in effect had the increase with respect to the issuance of such rights, options or warrants been made on the basis of delivery of only
the number of shares of Common Stock actually delivered. If such rights, options or warrants are not so issued, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect if such issuance had not occurred. 

For purposes of this subsection (b) and for purposes of Section 5.01(b)(iii), in determining whether any rights, options or warrants
entitle the Holders to subscribe for or purchase shares of Common Stock at a price that is less than the average of the Closing Sale Prices of the Common Stock for each Trading Day in the applicable 10 consecutive Trading Day period, there shall be
taken into account any consideration the Company receives for such rights, options or warrants and any amount payable on exercise thereof, with the value of such consideration if other than cash to be determined in good faith by the Board of
Directors. 
  

	(c)	If the Company distributes (the “Relevant Distribution”) shares of Capital Stock, evidences of indebtedness of the Company or other assets or property of the Company or rights, options or warrants to
acquire Capital Stock or other securities of the Company, to all or substantially all holders of the Common Stock, excluding: 

(i)        share splits, share combinations, dividends or distributions; 

(ii)       rights, options or warrants of the type described in Section 5.06(b); 

(iii)      dividends or distributions paid exclusively in cash; and 

(iv)      Spin-Offs, 

then, in each such case, the Conversion Rate shall be adjusted based on the following formula: 

 

					
	CR = CR0 x  	 	 SP0
	  	
	 	  SP0 - FMV  	  	

 where, 
  

			
	CR0 =	    	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such distribution;
		
	CR =	    	the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for such distribution;
		
	SP0 =	    	the average of the Closing Sale Prices of Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and
		
	FMV =	    	the fair market value (as determined in good faith by the Board of Directors) of the shares of Capital Stock, evidences of indebtedness, assets or property or rights, options or warrants distributed with respect to each outstanding
share of Common Stock as of the open of business on the Ex-Dividend Date for such distribution.

  
 28 

 Any increase made under the above portion of this subsection (c) shall become effective
immediately after the open of business on the Ex-Dividend Date for such distribution. No adjustment pursuant to the above formula shall result in a decrease of the Conversion Rate; provided that if such distribution is not so paid or made,
the Conversion Rate shall be decreased, as of the date the Board of Directors determines not to pay or make such distribution, to be the Conversion Rate that would then be in effect if such distribution had not been declared. Notwithstanding the
foregoing, if “FMV” (as defined above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase, each Holder of a Note shall receive, in
respect of each $1,000 principal amount of Notes it holds, at the same time and upon the same terms as holders of Common Stock, without having to convert its Notes, the amount and kind of the Relevant Distribution that such Holder would have
received if such Holder owned a number of shares of Common Stock equal to the Conversion Rate on the record date for the distribution. 

With respect to an adjustment pursuant to this subsection (c) where there has been a payment of a dividend or other distribution on the
Common Stock of shares of Capital Stock of any class or series, or similar equity interest, of or relating to a Subsidiary or other business unit, that are, or, when issued, will be, listed or admitted for trading on a U.S. national securities
exchange (a “Spin-Off”), the Conversion Rate shall be increased based on the following formula: 
  

					
	CR = CR0 x  	 	
  FMV + MP0  
	  	
	 	MP0	  	

 where, 
  

			
	CR0 =	    	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for the Spin-Off;
		
	CR =	    	the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for the Spin-Off;
		
	FMV =	    	the average of the Closing Sale Prices of the Capital Stock or similar equity interest distributed to holders of Common Stock applicable to one share of Common Stock (determined by reference to the definition of Closing Sale Price
as if references therein to Common Stock were to such Capital Stock or similar equity interest) over the first 10 consecutive Trading Day period commencing on, and including, the Ex-Dividend Date for the Spin-Off (such period, the “Valuation
Period”); and
		
	MP0 =	    	the average of the Closing Sale Prices of the Common Stock over the Valuation Period.

  
 29 

 The adjustment to the Conversion Rate under the preceding paragraph of this subsection
(c) shall be determined on the last Trading Day of the Valuation Period but shall be given effect immediately after the open of business on the Ex-Dividend Date for the Spin-Off. If the Ex-Dividend Date for the Spin-Off is less than 10 Trading
Days prior to, and including, the last Trading Day of the Conversion Period in respect of any conversion, references in the definition of “FMV” relating to Spin-Offs to 10 Trading Days shall be deemed to be replaced, solely in respect of
such conversion, with such lesser number of Trading Days as have elapsed from, and including, the Ex-Dividend Date for the Spin-Off to, and including, the last Trading Day of such Conversion Period. In respect of any conversion during the Valuation
Period for any Spin-Off, references in the definition of “FMV” relating to Spin-Offs to 10 Trading Days shall be deemed to be replaced with such lesser number of Trading Days as have elapsed from, and including, the Ex-Dividend Date for
such Spin-Off to, and including, the relevant Conversion Date. 
 If any dividend or distribution that constitutes a Spin-Off is declared,
but not so paid or made, the Conversion Rate shall be decreased, as of the date the Board of Directors determines not to pay or make such dividend or distribution, to be the Conversion Rate that would then be in effect in such dividend or
distribution had not been declared. 
 Rights, options or warrants distributed by the Company to all or substantially all holders of Common
Stock, entitling the holders thereof to subscribe for or purchase shares of the Company’s Capital Stock, including Common Stock (either initially or under certain circumstances), which rights, options or warrants, until the occurrence of a
specified event or events (“Trigger Event”): (i) are deemed to be transferred with such shares of Common Stock; (ii) are not exercisable; and (iii) are also issued in respect of future issuances of Common Stock, shall
be deemed not to have been distributed for purposes of this subsection (c) (and no adjustment to the Conversion Rate under this subsection (c) shall be required) until the occurrence of the earliest Trigger Event, whereupon such rights,
options and warrants shall be deemed to have been distributed and an appropriate adjustment (if any is required) to the Conversion Rate shall be made under this subsection (c). Subject to Section 5.06(i) if any such rights, options or warrants
are subject to events, upon the occurrence of which such rights, options or warrants become exercisable to purchase different securities, evidences of indebtedness or other assets, then the date of the occurrence of any and each such event shall be
deemed to be the date of distribution and Ex-Dividend Date with respect to new rights, options or warrants (and a termination or expiration of the existing rights, options or warrants without exercise by any of the holders thereof). Subject to
Section 5.06(i), in the event of any distribution (or deemed distribution) of rights, options or warrants, or any Trigger Event or other event (of the type described in the preceding sentence) with respect thereto that was counted for purposes
of calculating a distribution amount for which an adjustment to the Conversion Rate under this subsection (c) was made, (1) in the case of any such rights, options or warrants that shall all have been redeemed or repurchased without
exercise by any holders thereof, the Conversion Rate shall be readjusted upon such final redemption or repurchase to give effect to such distribution or Trigger Event, as the case may be, as 

  
 30 

 
though it were a cash distribution, equal to the per share redemption or repurchase price received by a holder or holders of Common Stock with respect to such rights, options or warrants
(assuming such holder had retained such rights or warrants), made to all holders of Common Stock as of the date of such redemption or repurchase, and (2) in the case of such rights, options or warrants that shall have expired or been terminated
without exercise by any holders thereof, the Conversion Rate shall be readjusted as if such rights, options and warrants had not been issued. 

For purposes of this subsection (c) and subsections (a) and (b) of this Section 5.06, any dividend or distribution to
which this subsection (c) is applicable that also includes shares of Common Stock to which subsection (a) of this Section 5.06 applies (the “Clause A Distribution”) or rights, options or warrants to subscribe for or
purchase shares of Common Stock to which subsection (b) of this Section 5.06 applies (the “Clause B Distribution”), shall be deemed instead to be (1) a dividend or distribution of the shares of Capital Stock,
evidences of indebtedness or other assets or property, other than the Clause A Distribution and the Clause B Distribution to which this subsection (c) applies (the “Clause C Distribution”) (and any Conversion Rate adjustment
required by this subsection (c) with respect to such dividend or distribution shall then be made) immediately followed by (2) the Clause B Distribution (and any further Conversion Rate adjustment required by subsection (b) of this
Section 5.06 shall then be made), except, if determined by the Company, (A) the Ex-Dividend Date of the Clause B Distribution shall be deemed to be the Ex-Dividend Date of the Clause C Distribution and (B) any shares of Common Stock
included in the Clause A Distribution or the Clause B Distribution shall not be deemed “outstanding immediately prior to the open of business on the Ex-Dividend Date for such distribution” within the meaning of subsection (b) of this
Section 5.06 immediately followed by (3) the Clause A Distribution (and any further Conversion Rate adjustment required by subsection (a) of this Section 5.06 with respect to such dividend or distribution shall then be made) ,
except, if determined by the Company, (A) the Ex-Dividend Date of the Clause A Distribution shall be deemed to be the Ex-Dividend Date of the Clause C Distribution and (B) any shares of Common Stock included in the Clause A Distribution or
the Clause B Distribution shall not be deemed “outstanding immediately prior to the open of business on the Ex-Dividend Date for such dividend or distribution, or immediately prior to the open of business on the effective date of such
subdivision or combination of Common Stock, as the case may be” within the meaning of subsection (a) of this Section 5.06. 
  

	(d)	If the Company makes any cash dividend or distribution to all, or substantially all, holders of outstanding Common Stock (other than any dividend or distribution in connection with the Company’s liquidation,
dissolution or winding up), the Conversion Rate will be increased based on the following formula: 

  

					
	CR = CR0 x  	 	 SP0
	 	
	 	   SP0 - C   	 	

 where, 

  
 31 

 
			
	CR0 =	  	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such dividend or distribution;
		
	CR =	  	the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for such dividend or distribution;
		
	SP0 =	  	the average of the Closing Sale Prices of Common Stock over the 10 consecutive Trading Day period ending on and including the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution; and
		
	C =	  	the amount in cash per share the Company pays or distributes to all or substantially all holders of Common Stock.

 Any increase made under this subsection (d) shall become effective immediately after the open of
business on the Ex-Dividend Date for such dividend or distribution. No adjustment pursuant to the above formula shall result in a decrease of the Conversion Rate; provided that if any dividend or distribution described in this subsection
(d) is declared but not so paid or made, the new Conversion Rate shall be readjusted, as of the date the Board of Directors determines not to pay or make such dividend or distribution, to the Conversion Rate that would then be in effect if such
dividend or distribution had not been declared. 
 Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater
than “SP0” (as defined above), in lieu of the foregoing increase, each Holder of a Note shall receive, for each $1,000 principal amount of Notes held by such Holder, at the same time
and upon the same terms as holders of shares of Common Stock, without having to convert its Notes, the amount of cash that such Holder would have received if such Holder owned a number of shares of Common Stock equal to the Conversion Rate on the
record date for such cash dividend or distribution. 
  

	(e)	If the Company or any of its Subsidiaries makes a payment in respect of a tender or exchange offer for Common Stock and, if the cash and value of any other consideration included in the payment per share of Common Stock
exceeds the average of the Closing Sale Prices of the Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to such
tender or exchange offer (the “Expiration Date”), the Conversion Rate shall be increased based on the following formula: 

  

					
	CR = CR0 x  	 	   AC + (OS x SP)  
	 	
	 	OS0  x SP	 	

 where, 
  

			
	CR0 =	  	the Conversion Rate in effect immediately prior to the open of business on the Trading Day next succeeding the Expiration Date;

  
 32 

			
	CR =	  	the Conversion Rate in effect immediately after the open of business on the Trading Day next succeeding the Expiration Date;
		
	AC =	  	the aggregate value of all cash and any other consideration (as determined in good faith by the Board of Directors) paid or payable for shares purchased in such tender or exchange offer;
		
	OS0 =	  	the number of shares of Common Stock outstanding immediately prior to the time (the “Expiration Time”) such tender or exchange offer expires (prior to giving effect to such tender offer or exchange offer);
		
	OS =	  	the number of shares of Common Stock outstanding immediately after the Expiration Time (after giving effect to such tender offer or exchange offer); and
		
	SP =	  	the average of the Closing Sale Prices of Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the Expiration Date (the “Averaging Period”).

 The adjustment to the Conversion Rate under this subsection (e) shall be determined at the close of
business on the last Trading Day of the Averaging Period, but shall be given effect at the open of business on the Trading Day next succeeding the Expiration Date. If the Trading Day next succeeding the Expiration Date is less than 10 Trading Days
prior to, and including, the end of the Conversion Period in respect of any conversion, references in the definition of “SP” above to 10 consecutive Trading Days shall be deemed to be replaced, solely in respect of that conversion, with
such lesser number of Trading Days as have elapsed from, and including, the Trading Day next succeeding the Expiration Date, to and including, the last Trading Day of such Conversion Period. In respect of any conversion during the 10 consecutive
Trading Days commencing on the Trading Day next succeeding the Expiration Date, references in the definition of “SP” above to 10 consecutive Trading Days shall be deemed to be replaced with such lesser number of Trading Days as have
elapsed from, and including, the Trading Day next succeeding the Expiration Date to, but excluding, the relevant Conversion Date. No adjustment pursuant to the above formula shall result in a decrease of the Conversion Rate. 

If the Company or any of its Subsidiaries is obligated to purchase shares of Common Stock pursuant to any such tender offer or exchange offer,
but the Company or any of its Subsidiaries is ultimately prevented by applicable law from effecting all or any portion of such purchases or all or any portion of such purchases are rescinded, the Conversion Rate shall immediately be readjusted to be
the Conversion Rate that would then be in effect if such tender offer or exchange offer had not been made or had been made only in respect of the purchase of shares of Common Stock that had been effected. 

(f)        If: 

(i)        the Company elects to satisfy its conversion obligation through Combination
Settlement and shares of Common Stock are deliverable for a given Trading Day within the Conversion Period applicable to Notes that a Holder has converted, 

  
 33 

 (ii)       the record date, effective date or
expiration date for any distribution or transaction that requires an adjustment to the Conversion Rate as described in subsections (a), (b), (c), (d) and (e) of this Section 5.06 occurs on or after the first Trading Day of the
relevant Conversion Period and on or prior to the last Trading Day of such Conversion Period, 

(iii)      the number of such shares of Common Stock is calculated (x) for a Trading Day in
such Conversion Period that occurs on or prior to such record date, effective date or expiration date and (y) based on a Conversion Rate that is not adjusted as described in subsections (a), (b), (c), (d) and (e) of this
Section 5.06 in respect of such distribution or transaction, and 
 (iv)      the shares
a Holder will receive in respect of such Trading Day are not entitled to participate in the relevant distribution or transaction (because such shares were not held on a related record date or otherwise), 

then the Company shall adjust the number of shares that the Company will deliver to you in respect of the relevant Trading Day as the Company determines
appropriate in good faith to reflect the relevant distribution or transaction. 
 (g)        If a
Conversion Rate adjustment becomes effective on any Ex-Dividend Date as described above, and a Holder that has converted its Note on or after such Ex-Dividend Date and on or prior to the related record date would be treated as the record holder of
shares of Common Stock as of the related Conversion Date pursuant to Section 5.04(b) based on an adjusted Conversion Rate for such Ex-Dividend Date, then, notwithstanding the foregoing Conversion Rate adjustment provisions and settlement
provisions, the Conversion Rate adjustment relating to such Ex-Dividend Date shall not be made for such converting Holder. Instead, such Holder shall be treated as if such Holder were the record owner of the shares of Common Stock such Holder is
entitled to receive upon conversion on an unadjusted basis and participate in the related dividend, distribution or other event giving rise to such adjustment. 

In addition, if a Holder converts a Note, Combination Settlement is applicable to such Note and the Daily Settlement Amount for any Trading
Day during the Conversion Period applicable to such Note: 
 (i)        is
calculated based on a Conversion Rate adjusted on account of any distribution or transaction described in subsections (a), (b), (c), (d) and (e) of this Section 5.06; and 

(ii)        includes any shares of Common Stock that entitle their holder to
participate in such event; 
 then, notwithstanding the foregoing Conversion Rate adjustment provisions and settlement provisions, (x) such Conversion
Rate adjustment shall only be made for such converting Holder for such Trading Day to the extent of the cash or other consideration (other than shares of Common Stock entitled to participate in such event) included in the Daily Settlement Amount for
such Trading Day and (y) with respect to such shares of Common Stock, such Holder shall be treated as if such Holder were the record owner of the shares of Common Stock on an unadjusted basis and participate in the related dividend,
distribution or other event giving rise to such adjustment. 

  
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 (h)          Notwithstanding the foregoing, the
Conversion Rate will not be adjusted: 
 (i)        upon the issuance of any shares
of Common Stock pursuant to any present or future plan providing for the reinvestment of dividends or interest payable on the Company’s securities and the investment of additional optional amounts in shares of Common Stock under any plan; 

(ii)       upon the issuance of any shares of Common Stock or options or rights to purchase
those shares pursuant to any present or future employee, director or consultant benefit plan or program of or assumed by the Company or any of its Subsidiaries; 

(iii)      upon the issuance of any shares of Common Stock pursuant to any option, warrant,
right or exercisable, exchangeable or convertible security not described in subclause (ii) and outstanding as of the date the Notes were first issued; 

(iv)      upon the repurchase of any shares of Common Stock pursuant to an open-market share
repurchase program, structured share repurchase transaction or other buy-back transaction (including through the use of derivatives) that is not a tender offer or exchange offer of the nature described under subsection (e) of this
Section 5.06; 
 (v)       solely for a change in the par value of the Common Stock;
or 
 (vi)      for accrued and unpaid interest, if any. 

(i)        To the extent that the Company has a rights plan in effect upon conversion of the Notes
(i.e., a poison pill), converting Holders of the Notes shall receive, in addition to any Common Stock received in connection with such conversion, the rights under such rights plan, unless prior to such conversion, the rights have separated
from the Common Stock, in which case the Conversion Rate shall be adjusted at the time of separation as if the Company distributed to all holders of Common Stock shares of the Company’s Capital Stock, evidences of indebtedness or other assets
or property, pursuant to Section 5.06(c), subject to readjustment in the event of the expiration, termination or redemption of such rights. 

(j)        In addition to those adjustments required by subsections (a), (b), (c), (d), (e) and
(f) of this Section 5.06, and to the extent permitted by applicable law and applicable listing rules of The NASDAQ Global Select Market and any other securities exchange on which the Company’s securities are then listed, (i) the
Company in its sole discretion from time to time may increase the Conversion Rate by any amount for a period of at least 20 Business Days so long as such increase is irrevocable during such period and the Board of Directors determines that such
increase would be in the Company’s best interest and (ii) the Company may also (but is not required to) increase the Conversion Rate to avoid or diminish any income tax to holders of Common Stock or rights to purchase shares of Common
Stock in connection with a dividend or distribution of shares (or rights to acquire shares) of Common Stock or similar events. 

  
 35 

 (k)        Adjustments to the Conversion Rate shall be
calculated to the nearest one-ten thousandth (1/10,000) of a share. The Company shall not be required to make an adjustment in the Conversion Rate unless the adjustment would require a change of at least 1% in the Conversion Rate;
provided that the Company shall carry forward any adjustment that is less than 1% of the Conversion Rate, take such carried-forward adjustments into account in any subsequent adjustment, and make such carried forward adjustments, regardless
of whether the aggregate adjustment is less than 1%, (i) on the Conversion Date for any Notes, (ii) on each Trading Day of the Conversion Period in respect of any Notes, and (iii) on any Fundamental Change effective date, unless such
adjustment has already been made. 
 (l)        For purposes of this Section 5.06, the number
of shares of Common Stock at any time outstanding shall not include shares held in the treasury of the Company but shall include shares issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock. 

(m)      Whenever any provision of the Indenture requires the Company to calculate Closing Sale Prices, Daily
VWAPs, Daily Conversion Values, Daily Settlement Amounts or the Stock Price for purposes of a Make-Whole Fundamental Change over a span of multiple days, the Board of Directors shall make appropriate adjustments to account for any adjustment to the
Conversion Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate where the Ex-Dividend Date, Expiration Date or effective date of the event occurs, at any time during the period for which such Closing Sale Prices,
Daily VWAPs, Daily Conversion Values, Daily Settlement Amounts or the Stock Price is to be calculated. For the avoidance of doubt, the adjustments made pursuant to this subsection (m) shall be made without duplication of any adjustment made
pursuant to subsection (f) of this Section 5.06. Neither the Trustee nor the Conversion Agent shall have any responsibility for any of the foregoing calculations or determinations. 

(n)        No adjustment to the Conversion Rate need be made for a given transaction if each Holder of
a Note will be entitled to participate in such transaction, without conversion of such Note, on the same terms and at the same time as the holder of a number of shares of Common Stock equal to (i) the principal amount of such Holder’s Note
divided by $1,000 and multiplied by (ii) the Conversion Rate would be entitled to participate. 

Section 5.07.  Notice of Adjustments of Conversion Rate.  Whenever the Conversion Rate is adjusted as herein
provided, the Company shall compute the adjusted Conversion Rate in accordance herewith and shall prepare a certificate signed by the Chief Financial Officer or Controller of the Company setting forth the adjusted Conversion Rate and describing in
reasonable detail the facts upon which such adjustment is based. Such certificate shall promptly be filed with the Trustee and with the Conversion Agent (if other than the Trustee), and the Company shall issue a press release containing the relevant
information (and make the press release available on its website). Failure to deliver any such certificate or notice shall not affect the validity of such adjustment. 

Section 5.08.  Company To Reserve Common Stock.  As of the date of this Supplemental Indenture, the Company
has reserved 6,735,163 shares of Common Stock for the purpose of satisfying conversions of the Notes. The Company expects to propose at its regularly scheduled 

  
 36 

 
shareholder meeting next following the date of this Supplemental Indenture a resolution increasing the number of authorized shares and to reserve additional shares for the purpose of satisfying
conversions of the Notes such that the number of shares reserved for such purpose is sufficient to satisfy conversions of all the Notes through Stock Settlement, including delivery of Additional Shares in connection with a Make-Whole Fundamental
Change. The Company shall at all times and from time to time reserve and keep available, free from preemptive rights, out of its authorized but unissued Common Stock that is not committed for any other purpose, for the purpose of issuance upon
conversion of Notes, (x) the number of shares of Common Stock equal to the number so reserved as of the date of this Supplemental Indenture and (y) following the approval by the Company’s shareholders of the resolution to increase the
number of authorized shares of Common Stock in accordance with the preceding sentence, a number of shares of Common Stock equal to the product of (a) the Maximum Conversion Rate and (b) the aggregate principal amount of Outstanding Notes
divided by $1,000. 
 Notwithstanding anything to the contrary in this Supplemental Indenture, if the Company is required to deliver shares
Common Stock to a converting Holder under any Settlement Method and such delivery obligation exceeds the aggregate number of authorized but unissued shares and treasury shares available to the Company on the Conversion Date (in the case of Stock
Settlement) or the last trading day of the relevant Conversion Period (in the case of any other Settlement Method) for the purpose of satisfying conversions of the Notes, in lieu of delivery of such excess shares, the Company shall pay to such
Holder the value of any such excess shares of Common Stock in cash based on the Daily VWAP of the Common Stock on the relevant Conversion Date (in the case of Stock Settlement) or based on the Daily VWAP of the Common Stock on the last trading day
of the relevant Conversion Period (in the case of any other Settlement Method). 
 Section 5.09. Taxes on
Conversions.  The Company shall pay any and all documentary, stamp or similar issue or transfer taxes that may be payable in respect of the issuance of shares of Common Stock upon any conversion of Notes hereunder; provided that
the Company shall not be required to pay any tax that is due because the converting Holder requests such shares to be issued in a name other than such Holder’s name, and no such issuance shall be made unless and until the Holder has paid to the
Company the amount of any such tax or duty, or has established to the satisfaction of the Company that such tax or duty has been paid. 

Section 5.10.  Certain Covenants.  Before taking any action which would cause an adjustment reducing the
Conversion Rate below the then par value, if any, of the shares of Common Stock issuable upon conversion of the Notes, the Company shall take all corporate action that it reasonably determines is necessary to ensure that the Company may validly and
legally issue a number of shares of Common Stock equal to the Maximum Conversion Rate (giving effect to such prospective adjustment), and that such shares would be considered fully paid under applicable law. 

Section 5.11.  Cancellation of Converted Notes.  All Notes delivered to the Conversion Agent for conversion
shall be delivered to the Trustee or its agent and canceled by the Trustee as provided in Section 2.12 of the Original Indenture. 

  
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 Section 5.12.  Provision in Case of Effect of Reclassification, Consolidation,
Merger or Sale. 
 (a)        In the event of: 

(i)        any recapitalization, reclassification or change of the Common Stock (other
than changes resulting from a subdivision or combination or a change to the par value of the Common Stock); 

(ii)       a consolidation, merger, combination, binding share exchange or similar
transaction involving the Company; 
 (iii)      a sale, assignment, conveyance, transfer,
lease or other disposition to another Person of the Company’s property and assets as an entirety or substantially as an entirety; or 

(iv)      a liquidation or dissolution of the Company, 

in each case, in which holders of outstanding Common Stock are entitled to receive cash, securities or other property for their shares of Common Stock
(“Reference Property” and any such transaction, a “Share Exchange Event”), then the Company or the successor or purchasing Person, as the case may be, shall execute with the Trustee a supplemental indenture
providing that, at and after the effective time of such Share Exchange Event, Holders of each $1,000 principal amount of Notes will be entitled to convert their Notes into the kind and amount of Reference Property that a holder of a number of shares
of Common Stock equal to the Conversion Rate immediately prior to such Share Exchange Event would have owned or been entitled to receive upon such Share Exchange Event; provided that at and after the effective time of any such Share Exchange
Event, (i) the Company will continue to have the right to determine the Settlement Method applicable to any conversion of Notes, unless the Company has previously made an Irrevocable Election pursuant to Section 5.04(a)(iii), (ii) any
amount otherwise payable in cash upon conversion of the Notes pursuant to Section 5.04(a)(iv) shall continue to be payable in cash, (iii) any shares of Common Stock that the Company would have been required to deliver upon conversion of
the Notes pursuant to Section 5.04(a)(iv) shall instead be deliverable in the amount and type of Reference Property that a holder of that number of shares of Common Stock would have received in such Share Exchange Event and (iv) the Daily
VWAP shall be calculated based on the value of a unit of Reference Property that a holder of one share of Common Stock would have received in such Share Exchange Event. Such supplemental indenture shall also provide for anti-dilution and other
adjustments that are as nearly equivalent as possible to the adjustments set forth in Section 5.06. If the Reference Property in respect of any such Share Exchange Event includes shares of stock, securities or other property or assets of a
company other than the successor or purchasing Person, as the case may be, in such Share Exchange Event, such other company shall also execute such supplemental indenture, and such supplemental indenture shall contain such additional provisions to
protect the interests of the Holders, including the right of Holders to require the Company to purchase their Notes upon a Fundamental Change pursuant to Section 4.01, as the Board of Directors reasonably considers necessary by reason of the
foregoing. If the Notes become convertible into Reference Property pursuant to this Section 5.12 or such a supplemental 

  
 38 

 
indenture, the Company shall notify the Trustee in writing and issue a press release containing the relevant information and make such press release available on the Company’s website.
Throughout Article 5, if the Common Stock has been replaced by Reference Property as a result of any Share Exchange Event, references to Common Stock are intended to refer to such Reference Property, subject to the provisions of this Supplemental
Indenture. 
 For purposes of this Section 5.12, the type and amount of consideration that holders of Common Stock are entitled to in
the case of Share Exchange Events that cause Common Stock to be converted into the right to receive more than a single type of consideration because the holders of Common Stock have the right to elect the type of consideration they receive shall be
deemed to be (x) the weighted average of the types and amounts of consideration received by the holders of Common Stock that affirmatively make such an election or (y) if no holders of Common Stock affirmatively make such an election, the
types and amounts of consideration actually received by the holders of Common Stock. The Company shall notify Holders of such weighted average as soon as practicable after such determination is made. If the Holders receive only cash in any Share
Exchange Event, then for all conversions that occur after the effective date of such Share Exchange Event (i) the consideration due upon conversion of each $1,000 principal amount of Notes shall be solely cash in an amount equal to the
Conversion Rate in effect on the relevant Conversion Date (as may be increased by any Additional Shares), multiplied by the price paid per share of Common Stock in such Share Exchange Event and (ii) the Company shall satisfy its
conversion obligation by paying cash to converting Holders on the third Business Day immediately following the relevant Conversion Date. The Company shall not become a party to any Share Exchange Event unless its terms are consistent with this
Section 5.12. 
 (b)        The above provisions of this Section 5.12 shall similarly
apply to successive Share Exchange Events. 
 Section 5.13.  Responsibility of Trustee for Conversion
Provisions.  The Trustee and any Conversion Agent or Bid Solicitation Agent, subject to the provisions of Article Seven of the Original Indenture, shall not at any time be under any duty or responsibility to any Holder of Notes or to
the Company to determine whether any facts exist which may require any adjustment of the Conversion Rate, or with respect to the nature or extent of any such adjustment when made, or with respect to the method employed, herein or in any supplemental
indenture provided to be employed, in making the same, or whether a supplemental indenture need be entered into. Neither the Trustee nor any Conversion Agent or Bid Solicitation Agent, subject to the provisions of Article Seven of the Original
Indenture, shall be responsible for any failure of the Company to make or calculate any cash payment or to issue, transfer or deliver any shares of Common Stock or share certificates or other securities or property or cash upon the surrender of any
Note for the purpose of conversion; and the Trustee and any Conversion Agent or any Bid Solicitation Agent, subject to the provisions of Article Seven of the Original Indenture, shall not be responsible for any failure of the Company to comply with
any of the covenants of the Company contained in this Article 5. The Company shall provide written notice to the Trustee and the Conversion Agent at any time any Notes become convertible. 

  
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 Section 5.14.  Notice to Holders Prior to Certain Actions.  In
case of: 
 (a)        any action by the Company or any Subsidiary thereof that
would require an adjustment to the Conversion Rate under Section 5.06; 

(b)        any Share Exchange Event; 

(c)        any voluntary or involuntary dissolution, liquidation or winding up of the
Company or any of its Subsidiaries; or 
 (d)        any Merger Transaction; 

then, in each case (unless notice of such event is otherwise required pursuant to another provision of the Indenture excluding, for the avoidance of doubt,
Section 5.07), the Company shall cause to be furnished to the Trustee and the Conversion Agent and to be sent to each Holder at such Holder’s address appearing on the list of Holders provided for in Section 2.05 of the Original
Indenture, as promptly as practicable but in any event at least five calendar days prior to the applicable date specified in clause (x) or (y) below (or, if later, no more than two Business Days following the date on which the Company
knows of the applicable date specified in clause (x) or (y) below), a notice stating (x) the date on which a record is to be taken for the purpose of such action by the Company or its Subsidiary or, if a record is not to be taken, the
date as of which the holders of Common Stock of record are to be determined for the purposes of such action by the Company or its Subsidiary, or (y) the date on which such Share Exchange Event, Merger Transaction, dissolution, liquidation or
winding up is expected to become effective or occur, and, if applicable, the date as of which it is expected that holders of Common Stock of record shall be entitled to exchange their Common Stock for securities or other property deliverable upon
such Share Exchange Event, Merger Transaction, dissolution, liquidation or winding up. Failure to give such notice, or any defect therein, shall not affect the operation of any provision herein consequent on such event. 

ARTICLE 6 
 NO REDEMPTION 

Section 6.01.  No Redemption.  Article Three of the Original Indenture shall not apply with respect to the
Notes. The Notes shall not be redeemable at the option of the Company prior to the Stated Maturity Date. 

Section 6.02.  No Sinking Fund.  No sinking fund shall be provided with respect to the Notes. 

ARTICLE 7 
 EVENTS OF DEFAULT;
REMEDIES 
 Section 7.01.  Original Indenture.  With respect to the Notes, (i) Section 7.02 hereof
shall supersede Section 6.01 of the Original Indenture; (ii) Section 7.03 hereof shall supersede Section 6.02 of the Original Indenture; (iii) Section 7.04 hereof shall supersede Section 6.06 of the Original
Indenture; (iv) Section 7.05 hereof shall supersede Section 6.07 of the Original Indenture; (v) Section 7.06 hereof shall supersede Section 6.04 of the Original Indenture;
(vi)

  
 40 

 
Section 7.07 hereof shall supersede Section 6.11 of the Original Indenture, and any reference in the Original Indenture to any such provision of the Original Indenture shall be deemed
to refer to the corresponding provision herein (if any). 
 Section 7.02.  Events of Default. 

Notwithstanding the “Events of Default” set forth in Section 6.01 of the Original Indenture, which shall not apply with respect
to the Notes, each of the following events shall constitute an “Event of Default” under the Indenture: 

(a)        failure by the Company to pay the principal of any Note when due; 

(b)        failure by the Company to pay or deliver, as the case may be, the Settlement Amount owing
upon conversion of any Note (including any Additional Shares or cash in lieu thereof) within five days; 

(c)        failure by the Company to pay any Interest on any Note when due, and such failure continues
for 30 days; 
 (d)        failure by the Company to pay the Fundamental Change Purchase Price of
any Note when due; 
 (e)        failure by the Company to provide timely written notice pursuant to
Section 5.01(b)(iii) or (b)(iv) or to timely provided a Fundamental Change Purchase Right Notice in accordance with the terms provided in Section 4.01(b); 

(f)         failure by the Company to perform any other covenant required of it as provided in
the Indenture (other than a covenant or agreement a default in whose performance or whose breach is specifically dealt with in subsections (a) through (e) above) and such failure continues for 60 days after written notice thereof has been
received by the Company from the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then Outstanding; 

(g)        any indebtedness for money borrowed by, or any other payment obligation of, the Company or
any of its Subsidiaries that is a Significant Subsidiary (or any group of Subsidiaries that, taken together, would constitute a Significant Subsidiary), in an outstanding principal amount, individually or in the aggregate, in excess of $20 million
is not paid at final maturity (or when otherwise due) or is accelerated, unless such indebtedness is discharged or such acceleration is cured, waived, rescinded, stayed or annulled within a period of 30 days after becoming due and payable; 

(h)        failure by the Company or any of its Subsidiaries that is a Significant Subsidiary (or any
group of Subsidiaries that, taken together, would constitute a Significant Subsidiary) to pay one or more final and non-appealable judgments entered by a court or courts of competent jurisdiction, the aggregate uninsured or unbonded portion of which
is in excess of $20 million, if the judgments are not paid, discharged or stayed within 30 days; 

(i)         the Company or any Significant Subsidiary (or any group of Subsidiaries that, taken
together, would constitute a Significant Subsidiary) thereof shall commence a voluntary 

  
 41 

 
case or other proceeding seeking liquidation, reorganization or other relief with respect to the Company or any such Significant Subsidiary or its debts under any bankruptcy, insolvency or other
similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of the Company or any such Significant Subsidiary or any substantial part of its property, or shall consent to
any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against it, or shall make a general assignment for the benefit of creditors, or shall fail generally to pay its
debts as they become due; and 
 (j)        an involuntary case or other proceeding shall be
commenced against the Company or any Significant Subsidiary (or any group of Subsidiaries that, taken together, would constitute a Significant Subsidiary) thereof seeking liquidation, reorganization or other relief with respect to the Company or
such Significant Subsidiary or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of the Company or such
Significant Subsidiary or any substantial part of its property, and such involuntary case or other proceeding shall remain undismissed and unstayed for a period of 90 consecutive days. 

Section 7.03.  Acceleration of Maturity; Rescission and Annulment.  If an Event of Default, other than an
Event of Default specified in Section 7.02(i) or Section 7.02(j) with respect to the Company, occurs and is continuing, then in every such case either the Trustee or the Holders of at least 25% in aggregate principal amount of the
Outstanding Notes may declare the principal amount of, and all accrued unpaid Interest on, the Notes to be due and payable immediately, by a notice in writing to the Company (with a copy to the Trustee), and upon any such declaration such principal
and Interest shall become immediately due and payable. If an Event of Default specified in Section 7.02(i) or Section 7.02(j) occurs with respect to the Company, the principal amount of, and accrued and unpaid Interest, if any, on, all of
the Notes shall become immediately due and payable without any declaration or other act of the Holders or any act on the part of the Trustee. 

At any time after such an acceleration but before a judgment or decree based on such acceleration, the Holders of a majority in aggregate
principal amount of the Outstanding Notes, by written notice to the Company and the Trustee, may rescind and annul such acceleration (other than with respect to an Event of Default under Sections 7.02(a) (including the Fundamental Change Purchase
Price)) if: 
 (i)        such rescission and annulment will not conflict with any
judgment or decree of a court of competent jurisdiction; 
 (ii)       all Events of
Default, other than the non-payment of the principal amount on Notes that have become due solely by such acceleration, have been cured or waived as provided in Section 7.06; and 

(iii)      all amounts owing to the Trustee have been paid. 

No such rescission shall affect any subsequent Event of Default or impair any right consequent thereon. 

  
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 Notwithstanding the foregoing and notwithstanding the remedies afforded to Holders upon the
occurrence and during the continuation of an Event of Default as set forth in Article Six of the Original Indenture, at the election of the Company, the sole remedy for an Event of Default relating to (i) the failure by the Company to file with
the Trustee pursuant to Section 314(a)(1) of the TIA any documents or reports that the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act or (ii) the failure by the Company to comply with its
reporting obligations to the Trustee and the SEC, under Section 9.01 hereof (in either case, a “Filing Failure”), shall, for the 180 days after the occurrence of such an Event of Default, consist exclusively of the right of
Holders to receive additional interest on the Notes (“Additional Interest”) at an annual rate equal to (x) for the first 90 days after the occurrence of such an Event of Default, 0.25% of the aggregate principal amount of the
Notes to, but not including, the 91st day thereafter, and (y) for the 90 days from, and including, the 91st day after the occurrence of such an Event of Default, 0.50% of the aggregate principal amount of the Notes to, but not including, the
181st day after the occurrence of such an Event of Default (or, in each case of clauses (x) and (y), if applicable, the earlier date on which the Event of Default relating to the reporting obligations is cured or waived). Any such Additional
Interest shall be payable in the same manner and on the same dates as the stated Interest payable on the Notes. Any such Additional Interest will accrue on the Notes that are then Outstanding from the first day of the Event of Default to, but
excluding, the earlier of (i) the date on which the Company has made the filings initially giving rise to the Filing Failure and (ii) the date that is 180 days after the occurrence of the Event of Default. If such Event of Default is
continuing on the 181st day after such Event of Default first occurred, the Notes shall be subject to acceleration in accordance with the provisions of this Section 7.03 as provided above. This paragraph and the two immediately succeeding
paragraphs shall not affect the rights of Holders of Notes in the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Additional Interest upon an Event of Default in accordance with this
paragraph, the Notes shall be subject to acceleration in accordance with the first paragraph of this Section 7.03. 
 In order to elect
to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of an Event of Default relating to the failure to comply with the reporting obligations set forth in Section 9.01 in accordance with the immediately
preceding paragraph, the Company must notify in writing all Holders of record of the Notes and the Trustee and Paying Agent of such election on or before the date on which such Event of Default would otherwise occur. Upon the Company’s failure
to timely give such notice or pay Additional Interest, the Notes shall be immediately subject to acceleration in accordance with the first paragraph of this Section 7.03. In no event shall Additional Interest accrue at a rate per year in excess
of 0.25% (during the period described in clause (x) of the immediately preceding paragraph) or 0.50% (during the period described in clause (y) of the immediately preceding paragraph), as applicable, pursuant to the Indenture, regardless
of the number of events or circumstances giving rise to requirements to pay such Additional Interest pursuant to the immediately preceding paragraph. With regard to any violation specified in the immediately preceding paragraph, no Additional
Interest shall accrue, and no right to declare the principal or other amounts due and payable in respect of the Notes shall exist, after such violation has been cured. 

If Additional Interest is payable under this Section 7.03, the Company shall deliver to a responsible officer of the Trustee at the
Corporate Trust Office of the Trustee a certificate to that effect stating that Additional Interest is payable and the date upon which such Additional Interest 

  
 43 

 
shall begin to accrue. Unless and until a responsible officer of the Trustee receives at the corporate trust office of the Trustee such a certificate, the Trustee may assume without inquiry that
Additional Interest is not payable. If Additional Interest has been paid by the Company directly to the persons entitled to it, the Company shall deliver to the Trustee a certificate setting forth the particulars of such payment. 

Payments of the Fundamental Change Purchase Price, principal and Interest that are not made when due shall accrue Interest per annum at the
then-applicable interest rate from the required payment date. 
 Section 7.04. Limitation on Suits. Notwithstanding
Section 6.06 of the Original Indenture, which shall not apply to the Notes, no Holder of any Note shall have any right to institute any proceeding, judicial or otherwise, with respect to the Indenture or the Notes, or for the appointment of a
receiver or trustee, or for any other remedy under the Indenture or the Notes, unless: 

(i)        such Holder has previously given written notice to the Trustee of a
continuing Event of Default; 
 (ii)       the Holders of at least 25% in aggregate
principal amount of the Notes then outstanding have made a written request and have offered indemnity or security to the Trustee satisfactory to it to institute such proceeding as Trustee; and 

(iii)      the Trustee has failed to institute such proceeding within 60 days after such notice,
request and offer and has not received from the Holders of a majority in aggregate principal amount of the Notes then outstanding a direction inconsistent with such request within 60 days after such notice, request and offer. 

However, the limitation on the right of Holders to institute a proceeding under this Section 7.04 shall not apply to a suit instituted by a Holder for
the enforcement of payment of the principal of or Interest on any Note on or after the applicable due date, the right to convert the Note or to receive the consideration due upon conversion or the right of a beneficial owner to exchange its
beneficial interest in a Global Security representing Notes for a Physical Security if an Event of Default has occurred and is continuing, in each case, in accordance with applicable provisions of the Indenture. 

Section 7.05. Unconditional Right of Holders To Receive Payment.  Notwithstanding any other provision of the
Indenture or the Notes, any Holder has the right to receive payment or delivery, as the case may be, of the principal amount, Fundamental Change Purchase Price or accrued and unpaid Interest, if any, in respect of the Notes held by such Holder, on
or after the respective due dates expressed in the Notes or any Fundamental Change Purchase Date, as applicable, and the consideration due upon conversion of the Notes in accordance with Article 5, or to institute suit for the enforcement of any
such payment on or after such respective dates or the right to convert, and such right to receive such payment or delivery, as the case may be, shall not be impaired or affected adversely without the consent of such Holder. 

Section 7.06. Waiver of Defaults and Events of Default. Notwithstanding Section 6.04 of the Original Indenture,
subject to Section 11.02 of this Supplemental Indenture, the Holders of 

  
 44 

 
not less than a majority of the aggregate principal amount of the Outstanding Notes may on behalf of the Holders of all of the Notes waive any Default or Event of Default hereunder, unless: 

(i)        the Company fails to pay the principal of or any Interest on any Note when
due; 
 (ii)       the Company fails to pay or deliver the consideration due upon
conversion of any Note within the time period required by the Indenture; or 
 (iii)      the
Company fails to comply with any of the provisions of the Indenture the modification of which would require the consent of the Holder of each Outstanding Note affected. 

Upon any such waiver, such Default or Event of Default shall cease to exist, and any Event of Default arising from such Default shall be deemed to have been
cured, for every purpose of the Indenture; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. 

Section 7.07.  Undertaking for Costs. The provisions of Section 6.11 of the Original Indenture, in addition to
the limitations set forth therein, shall not apply to any suit instituted by a Holder to enforce its right to receive the consideration due upon conversion of its Notes within the time period prescribed herein. 

Section 7.08.  Waiver of Stay or Extension Laws. The Company covenants (to the extent that it may lawfully do so)
that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law which would prohibit or forgive the Company from paying all or any portion of
the principal of or Interest on the Notes as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of the Indenture; and the Company (to the extent that it may lawfully do
so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as
though no such law had been enacted. 
 ARTICLE 8 

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 

Section 8.01.  Original Indenture.  This Article 8 supersedes in its entirety Article Five of the Original
Indenture, with the provisions of Section 8.02 of this Supplemental Indenture superseding the provisions of Section 5.01 of the Original Indenture. In addition, each reference in the Original Indenture to Section 5.01 of the Original
Indenture will, respect to the Notes, be deemed to be a reference to Section 8.02 of this Supplemental Indenture. 

Section 8.02.  Consolidation, Merger and Sale of Assets.  The Company shall not consolidate with, enter into a
binding share exchange with, or merge with or into, another Person or sell, assign, convey, transfer, lease or otherwise dispose of its properties and assets substantially as an entirety to any successor Person (any such transaction or series of
transactions, a “Merger Transaction”), unless: 
 (a)        the Company is the
surviving Person or the successor Person is a corporation organized and existing under the laws of the United States, any state of the United States or the District of Columbia and, if other than the Company, expressly assumes by supplemental
indenture all of the Company’s obligations under the Notes and the Indenture; 

  
 45 

 (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 deliver, or cause to be delivered, to the Trustee an Officers’
Certificate and an Opinion of Counsel, each to the effect that such Merger Transaction and such supplemental indenture comply with this Article 8. 

Section 8.03.  Successor Substituted.  Upon any such Merger Transaction, the resulting, surviving or
transferee Person shall succeed to, and be substituted for, and may exercise every right and power of, the Company under the Indenture with the same effect as if such successor had been named as the Company herein; and thereafter the Company shall
be discharged from its obligations under the Notes and the Indenture, except in the case of any lease of all or substantially all of the Company’s assets. For purposes of the foregoing, any sale, assignment, conveyance, transfer, lease or other
disposition of properties and assets of one or more of the Company’s Subsidiaries that would, if the Company had held such properties and assets directly, have constituted the sale, assignment, conveyance, transfer, lease or disposition of our
properties and assets substantially as an entirety shall be treated as such under the Indenture. 
 ARTICLE 9 

REPORTS BY COMPANY 

Section 9.01.  Reports by Company. 

The Company will furnish to the Trustee, within 15 days after it is required to file the same with the SEC, copies of the quarterly and annual
reports and of the information, documents and other reports, if any, that it is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act (giving effect to any grace period provided by Rule 12b-25 under the Exchange
Act), and to otherwise comply with Section 314(a) of the TIA. Any such report, information or document that the Company files with the SEC through the EDGAR system (or any successor thereto) will be deemed to be delivered to the Trustee for the
purposes of this Section 9.01 at the time of such filing through the EDGAR system (or such successor thereto). 
 Delivery of any such
reports, information and documents to the Trustee shall be for informational purposes only, and the Trustee’s receipt of such reports, information and documents shall not constitute constructive notice of any information contained therein or
determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 

  
 46 

 ARTICLE 10 

SATISFACTION AND DISCHARGE 

Section 10.01.  Original Indenture. This Article 10 supersedes in its entirety the provisions set forth in Article Eight
of the Original Indenture and any reference in the Original Indenture to such Article Eight or any provision therein shall be deemed to refer this Article 10 or the corresponding provision herein (if any), as the case may be. 

Section 10.02.  Discharge of Indenture. When (a) the Company shall deliver to the Trustee for cancellation all
Outstanding Notes theretofore authenticated (other than any Notes that have been destroyed, lost or stolen and in lieu of or in substitution for which other Notes shall have been authenticated and delivered) and not theretofore canceled, or
(b) all the Outstanding Notes not theretofore canceled or delivered to the Trustee for cancellation shall have become due and payable (whether at the Stated Maturity Date, on any Fundamental Change Purchase Date, upon conversion (and
determination of related Settlement Amounts) or otherwise) and the Company shall deposit with the Trustee, in trust, cash or (in the case of conversion) cash and shares of Common Stock, if any, sufficient to pay all amounts due on all of such
Outstanding Notes including principal and Interest due or satisfy the Company’s conversion obligation, as the case may be, and to pay all other sums payable under the Indenture by the Company, then the Indenture shall cease to be of further
effect (except as to (i) remaining rights of registration of transfer, substitution and exchange and conversion of Notes, (ii) rights hereunder of Holders to receive payments of principal of and Interest on, or the consideration due upon
conversion of, the Notes and the other rights, duties and obligations of Holders, as beneficiaries hereof with respect to the amounts, if any, so deposited with the Trustee and (iii) the rights, obligations and immunities of the Trustee
hereunder), and the Trustee, on written demand of the Company accompanied by an Officers’ Certificate and an Opinion of Counsel as may be required pursuant to the Original Indenture and at the cost and expense of the Company, shall execute
proper instruments acknowledging satisfaction and discharge of the Indenture. The Company, however, hereby agrees to reimburse the Trustee for any costs or expenses thereafter reasonably and properly incurred by the Trustee and to compensate the
Trustee for any services thereafter reasonably and properly rendered by the Trustee in connection with the Indenture or the Notes. 

Section 10.03.  Deposited Monies and Shares To Be Held in Trust by Trustee. Subject to Section 10.04, all monies
and shares of Common Stock, if any, deposited with the Trustee pursuant to Section 10.02 shall be held in trust for the sole benefit of the Holders, and such monies and shares of Common Stock, if any, shall be applied by the Trustee to the
payment, either directly or through the Paying Agent or Conversion Agent (including the Company if acting as the Paying Agent or Conversion Agent), to the Holders of the particular Notes for the payment or settlement of which such monies or shares
of Common Stock have been deposited with the Trustee, of all sums due and to become due thereon for principal and Interest or the satisfaction of the Company’s conversion obligation, as the case may be, and payment of all other sums due under
the Indenture. 
 Section 10.04.  Paying Agent or Conversion Agent To Repay Monies and Shares Held. Upon the
satisfaction and discharge of the Indenture, all monies and shares of Common Stock, if any, then held by the Paying Agent or Conversion Agent (if other than the Trustee) shall, upon 

  
 47 

 
written request of the Company, be repaid or delivered to the Company or paid or delivered to the Trustee, and thereupon such Paying Agent or Conversion Agent shall be released from all further
liability with respect to such monies and shares of Common Stock, if any. 
 Subject to the requirements of applicable law, any monies and
shares of Common Stock deposited with or paid to the Trustee for payment of the principal of or Interest on or other obligations under, or to satisfy the Company’s conversion obligation with respect to, the Notes and not applied but remaining
unclaimed by the Holders of the Notes for two years after the date upon which the principal of or Interest on, or other obligations under, such Notes or the Company’s conversion obligation, as the case may be, shall have become due and payable,
shall be repaid or delivered to the Company by the Trustee on demand and all liability of the Trustee shall thereupon cease with respect to such monies and shares of Common Stock; and the Holder of any of the Notes shall thereafter look only to the
Company for any payment or delivery that such Holder may be entitled to collect unless an applicable abandoned property law designates another Person. 

Section 10.05.  Reinstatement.  If the Trustee or the Paying Agent or Conversion Agent is unable to apply any
money or shares of Common Stock in accordance with Section 10.03 by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s obligations under
the Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 10.02 until such time as the Trustee or the Paying Agent or Conversion Agent is permitted to apply all such money or shares of
Common Stock in accordance with Section 10.03; provided, however, that if the Company makes any payment of Interest on or principal of any Note or delivery of shares of Common Stock in respect of its conversion obligation
following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or shares of Common Stock held by the Trustee or Paying Agent or Conversion Agent. 

ARTICLE 11 
 SUPPLEMENTAL
INDENTURES 
 Section 11.01.  Supplemental Indentures Without Consent of Holders.  The Company and the
Trustee at any time and from time to time may without notice to, or the consent of, any Holder enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes in addition to the purposes
set forth in Section 10.01 of the Original Indenture (as amended hereby with respect to the Notes): 

(i)        to cure any ambiguity, omission, defect or inconsistency; 

(ii)       to provide for the assumption by a successor corporation of the obligations of
the Company pursuant to Article 8 of this Supplemental Indenture; 
 (iii)      to add
guarantees with respect to the Notes; 
 (iv)      to secure the Notes; 

  
 48 

 (v)       to add to the Company’s
covenants for the benefit of the Holders or surrender any rights or power conferred upon the Company; 

(vi)      to make any change that does not adversely affect the rights of any Holder; 

(vii)     upon the occurrence of a Share Exchange Event, solely to (a) provide that the Notes
are convertible into Reference Property, subject to Article 5 above, and (b) effect the related changes to the terms of the Notes as described in Section 5.12, in each case, in accordance with the applicable provisions of the Indenture or
reasonably determined necessary by the Company to provide that the Notes are convertible into Reference Property; 

(viii)    to eliminate, in the aggregate, any one or two Settlement Methods or, in the case of Combination
Settlement, irrevocably elect a Specified Dollar Amount; 
 (ix)      to appoint a successor
Trustee with respect to the Notes; 
 (x)       to comply with any requirement of the SEC
in connection with the qualification of the Indenture under the TIA; or 
 (xi)      to
conform the provisions of the Indenture to the section entitled “Description of the Notes” in the preliminary prospectus supplement dated December 2, 2014, as supplemented by the related pricing term sheet dated December 2, 2014,
relating to the offering and sale of the Notes, as set forth in an Officers’ Certificate. 
     For purposes of
the Notes, clauses (2) and (14) of Section 10.01 of the Original Indenture shall be deemed to be deleted in their entirety. 

Section 11.02.  Supplemental Indentures with Consent of Holders.  The Company and the Trustee may amend or
supplement the Indenture with respect to the Notes with the consent of the Holders of a majority in aggregate principal amount of the Outstanding Notes (including without limitation, consents obtained in connection with a repurchase of, or tender or
exchange offer for, Notes). In addition, the Holders of a majority in aggregate principal amount of the Outstanding Notes (including without limitation, consents obtained in connection with a repurchase of, or tender or exchange offer for, Notes)
may waive the Company’s compliance in any instance with any provision of the Indenture without notice to the other Holders of Notes. 

The third sentence of Section 10.02 of the Original Indenture shall not apply with respect to the Notes, and the following sentence shall
replace the third sentence of Section 10.02 of the Original Indenture in its entirety. No amendment, supplement or waiver may be made without the consent of each Holder of outstanding Notes affected thereby if such amendment, supplement or
waiver would: 
 (i)        change the stated maturity of the principal of or any
interest on the Notes; 
 (ii)       reduce the principal amount of or interest on the
Notes; 

  
 49 

 (iii)      reduce the amount of principal payable
upon acceleration of the maturity of the Notes; 
 (iv)      change the currency of payment of
principal of or Interest on the Notes or change any Note’s Place of Payment; 

(v)       impair the right of any Holder to receive payment of principal of and Interest on
such Holder’s Notes on or after the due dates therefor or to institute suit for the enforcement of any payment on, or with respect to, the Notes; 

(vi)      modify the provisions with respect to the purchase rights of the Holders as provided
in Article 4, in each case, in a manner adverse to Holders of Notes; 
 (vii)     change the
ranking of the Notes; 
 (viii)    adversely affect the right of Holders to convert their Notes
hereunder, or reduce the Conversion Rate (it being understood that the Trustee shall have no responsibility for making a determination as to whether such amendment adversely affects the rights of the Holders); or 

(ix)      modify provisions with respect to modification, amendment or waiver (including waiver
of Events of Default), except to increase the percentage required for modification, amendment or waiver or to provide for consent of each affected Holder of Notes. 

ARTICLE 12 
 MISCELLANEOUS 

Section 12.01.  Successors. All agreements of the Company and the Trustee in the Indenture and the Notes shall bind
their respective successors. 
 Section 12.02.  Multiple Originals. The parties may sign any number of copies of this
Supplemental 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 Supplemental Indenture. The exchange of copies of the Indenture and of signature pages by
facsimile or PDF transmission shall constitute effective execution and delivery of the Indenture as to the parties hereto and may be used in lieu of the Original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile
or PDF shall be deemed to be their original signatures for all purposes. 
 Section 12.03.  Calculations. Subject to
the immediately following paragraph, and except as otherwise provided herein, the Company and any agents the Company shall engage shall be responsible for making all calculations called for under the Indenture and the Notes, including, but not
limited to, determinations of the Closing Sale Prices of Common Stock, the Trading Price of the Notes, any adjustments to the Conversion Rate, the consideration deliverable in respect of any conversion and accrued Interest payable on the Notes and
whether the Notes are convertible. The Company shall make all these calculations in good faith and, absent manifest error, its calculations shall be final and binding on Holders. The Company shall provide a schedule of its

  
 50 

 
calculations to each of the Trustee and the Conversion Agent, and each of the Trustee and Conversion Agent is entitled to rely conclusively upon the accuracy of the Company’s calculations
without independent verification. The Trustee shall forward a copy of such schedule to any Holder upon the request of such Holder. 
 The
Trustee (including in its capacities as Bid Solicitation Agent, Conversion Agent, Paying Agent and Registrar) shall have no responsibility to determine the Trading Price of the Notes or whether the Notes are convertible or otherwise to make any of
the foregoing calculations or determinations. 
 Section 12.04.  Benefits of Supplemental Indenture. Nothing in this
Supplemental Indenture or in the Notes, express or implied, shall give to any Person, other than the parties hereto and their respective successors hereunder and the Holders of Notes, any benefit or any legal or equitable right, remedy or claim
under this Supplemental Indenture. 
 Section 12.05.  Withholding Taxes. Each Holder agrees, and each beneficial owner
of an interest in a Note by its acquisition of such interest is deemed to agree, that if the Company or other applicable withholding agent pays withholding taxes or backup withholding on behalf of the Holder or beneficial owner as a result of an
adjustment to the Conversion Rate, the Company or other applicable withholding agent may, at its option, withhold such amounts from payments of cash and shares of Common Stock on the Note (or, in certain circumstances, against any payments on the
Common Stock). 
 Section 12.06.  Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES,
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS SUPPLEMENTAL INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 

Section 12.07.  Governing Law. THIS SUPPLEMENTAL INDENTURE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR
RELATED TO THE INDENTURE OR THE NOTES, SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK. 

[Remainder of the page intentionally left blank] 

  
 51 

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

			
	QUIDEL CORPORATION
		
	By:	 	/s/ Randall J. Steward
		 	Name:  Randall J. Steward
		 	Title:   Chief Financial Officer
	
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:	 	/s/ Michael Countryman
		 	Name: Michael Countryman
		 	Title: Vice President

  
 52 

 SCHEDULE A 

Make-Whole Table 
 The following table
sets forth the number of Additional Shares to be added to the Conversion Rate for each $1,000 principal amount of Notes pursuant to, and under the circumstances described in, Section 5.02 of this Supplemental Indenture, based on the Stock
Prices and Effective Dates set forth below: 
  
  

																					
	 	 	Stock Price
	Effective Date	 	$23.75	 	$26.00	 	$29.00	 	$32.06	 	$40.00	 	$50.00	 	$60.00	 	$80.00	 	$100.00	 	$120.00
	 December 8, 2014
	 	10.9161	 	9.1533	 	7.4255	 	6.1570	 	4.1830	 	2.9475	 	2.2659	 	1.5414	 	1.1326	 	0.8661
	 December 15, 2015
	 	10.9161	 	8.8997	 	7.0629	 	5.7399	 	3.7521	 	2.5816	 	1.9716	 	1.3411	 	0.9889	 	0.7588
	 December 15, 2016
	 	10.9161	 	8.6274	 	6.6486	 	5.2532	 	3.2501	 	2.1657	 	1.6424	 	1.1184	 	0.8281	 	0.6375
	 December 15, 2017
	 	10.9161	 	8.3283	 	6.1595	 	4.6679	 	2.6542	 	1.6913	 	1.2753	 	0.8722	 	0.6489	 	0.5015
	 December 15, 2018
	 	10.9161	 	7.9569	 	5.5260	 	3.9089	 	1.9217	 	1.1485	 	0.8708	 	0.6033	 	0.4510	 	0.3497
	 December 15, 2019
	 	10.9161	 	7.4344	 	4.5920	 	2.7979	 	0.9902	 	0.5648	 	0.4437	 	0.3125	 	0.2343	 	0.1821
	 December 15, 2020
	 	10.9161	 	7.2724	 	3.2936	 	0.0000	 	0.0000	 	0.0000	 	0.0000	 	0.0000	 	0.0000	 	0.0000

  
 SCH A - 1 

 EXHIBIT A 

[FORM OF FACE OF SECURITY] 

[INCLUDE IF A GLOBAL SECURITY] 
 [UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO, AND IS REGISTERED IN THE NAME OF THE DEPOSITORY OR A NOMINEE
OF THE DEPOSITORY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY
THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY, BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY.] 

QUIDEL CORPORATION 
  

			
	No. R-[    ]	  	Initially $[        ]

 3.25% Convertible Senior Note due 2020 

CUSIP No.: 74838J AA9 
 ISIN Number:
US74838JAA97 
 QUIDEL CORPORATION, a Delaware corporation, promises to pay to [CEDE & CO., or its registered assigns]1, the principal sum of         DOLLARS, [as revised by the Schedule of Increases or Decreases in Global Security attached hereto,]2 on December 15, 2020. 
  

 
 1 Insert for Global Security 
 2
Insert for Global Security 

  
 Ex A - 1 

 Interest Payment Dates: June 15 and December 15 commencing on June 15, 2015. 

Interest Record Dates: June 1 and December 1. 

Reference is made to the further provisions of this Note set forth on the reverse hereof, including, without limitation, provisions giving the
Holder of this Note the right to convert this Note into cash, shares of Common Stock or a combination thereof, at the Company’s election, on the terms and subject to the limitations referred to on the reverse hereof and as more fully specified
in the Indenture. Such further provisions shall for all purposes have the same effect as though fully set forth at this place. 
 In the
case of any conflict between this Note and the Indenture, the provisions of the Indenture shall control. 
 This Note shall not be valid or
become obligatory for any purpose until the certificate of authentication hereon shall have been manually signed by the Trustee or a duly authorized authenticating agent under the Indenture. 

  
 Ex A - 2 

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

 

					
	QUIDEL CORPORATION
		
	By:	 	 
		 	Name:	 	 Randall J. Steward
		 	Title:  Chief Financial Officer

  
 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated herein issued under the within-mentioned Indenture. 

THE BANK OF NEW YORK MELLON TRUST 

COMPANY, N.A., as Trustee 

			
		
	By:	 	 
		 	Authorized Signatory
		 	Dated:

  
 Ex A - 3 

 [FORM OF REVERSE OF NOTE] 

QUIDEL CORPORATION 
 3.25%
Convertible Senior Note due 2020 
  

	1.	 Interest 

QUIDEL CORPORATION, a Delaware corporation (such corporation, and its successors and assigns under the Indenture, the
“Company”), promises to pay Interest on the principal amount of this Note at the rate of 3.25% per annum. The Company will pay Interest semiannually on June 15 and December 15 of each year, commencing on June 15,
2015. Interest on this Note will accrue from the most recent date to which Interest has been paid or, if no Interest has been paid, from December 8, 2014. Interest will be computed on the basis of a 360-day year of twelve 30-day months. The
Company shall pay Interest (including post-petition Interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the rate of Interest then in effect; and it shall pay Interest
(including post-petition Interest in any proceeding under any Bankruptcy Law) on overdue installments of Interest (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. 

 

	2.	 Paying Agent, Registrar and Conversion Agent 

Initially, The Bank of New York Mellon Trust Company, N.A. (the “Trustee”), will act as Paying Agent, Registrar and
Conversion Agent. The Company may appoint and change any Paying Agent, Registrar or Conversion Agent in accordance with the terms of the Indenture. The Company may act as Paying Agent, Registrar or Conversion Agent. 

 

	3.	 Indenture 

The Company issued the Notes under an Indenture dated as of December 1, 2014 (the “Original Indenture”), as supplemented
by the First Supplemental Indenture dated as of December 8, 2014 (the “Supplemental Indenture” and the Original Indenture, as supplemented by the Supplemental Indenture, the “Indenture”), between the Company
and the Trustee. Terms defined in the Indenture and not defined herein have the meanings ascribed thereto in the Indenture. The Notes are subject to all such terms, and Holders are referred to the Indenture for a statement of those terms. 

This Note is one of the Securities of the Company, designated as its 3.25% Convertible Senior Notes due 2020, issued pursuant to the Indenture
in an initial aggregate principal amount of $172,500,000. Additional Notes may be issued in accordance with the terms of the Indenture. The Indenture also imposes limitations on the ability of the Company to consolidate or merge with or into any
other Person or convey, transfer or lease all or substantially all of the property of the Company. 
  

	4.	 Conversion 

Subject to certain conditions and during certain periods specified in the Indenture, at any time until the close of business on the second
Business Day immediately preceding the Stated 

  
 Ex A - 4 

 
Maturity Date of this Note, the Holder hereof has the right, at its option, to convert each $1,000 principal amount of this Note into cash, shares of Common Stock or a combination of cash and
shares of Common Stock, at the Company’s election, determined as set forth in the Indenture, based on the applicable Conversion Rate, as the same may be adjusted from time to time pursuant to the terms of the Indenture. 

 

	5.	 Denominations, Transfer, Exchange 

The Notes are in registered form without coupons in denominations of $1,000 and whole multiples of $1,000. A Holder may transfer or exchange
Notes in accordance with the terms of the Indenture, subject to certain exceptions set forth therein. Upon any transfer or exchange, the Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements or
transfer documents and to pay any taxes required by law or permitted by the Indenture. 
  

	6.	 Persons Deemed Owners 

The registered Holder of this Note may be treated as the owner of it for all purposes, subject to certain exceptions specified in the
Indenture. 
  

	7.	 Defaults and Remedies 

If an Event of Default (other than an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Company)
occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the Outstanding Notes may declare the principal of and accrued and unpaid Interest on all the Notes to be due and payable. If an Event of Default relating to
certain events of bankruptcy, insolvency or reorganization of the Company occurs, the principal of and Interest on all the Notes will become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder.
Notwithstanding the foregoing, at the election of the Company, the sole remedy for an Event of Default relating to a failure to file certain reports with the SEC and the Trustee shall for the first 180 calendar days after such Event of Default
consist exclusively of the right to receive Additional Interest. 
  

	8.	 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 Notes or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Note, each Holder waives and releases all such liability. The waiver and release are part of the consideration for
the issue of the Notes. 
  

	9.	 Authentication 

This Note shall not be valid until an authorized signatory of the Trustee (or an authenticating agent) manually signs the certificate of
authentication on the other side of this Note. 

  
 Ex A - 5 

	10.	 Abbreviations 

Customary abbreviations may be used in the name of a Holder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the
entireties), JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 
  

	11.	 GOVERNING LAW 

THIS NOTE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THE INDENTURE OR THE NOTES, SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK. 
  

	12.	 CUSIP and ISIN Numbers 

The Company has caused CUSIP and ISIN numbers to be printed on the Notes and the Trustee shall use the CUSIP and ISIN numbers in notices as a
convenience to Holders, provided, that any such notice may state that no representation is made as to the correctness or accuracy of the CUSIP and ISIN numbers printed in the notice or on the Notes, and that reliance may be placed only on the
other identification numbers printed on the Notes, and that the validity of any such notice shall not be affected by any defect in or omission of any such numbers. 

The Company will furnish to any Holder of Notes upon written request and without charge to the Holder a copy of the Indenture which has in
it the text of this Note. 

  
 Ex A - 6 

 SCHEDULE OF INCREASES AND DECREASES IN GLOBAL
SECURITY3 
 The following increases or decreases in this Global Security have been made: 

 

																	
	 Date of

      Exchange      
	 	 	 	Amount of
decrease in
principal amount
of this
Global Security	 	 	 	 Amount of
increase in

principal amount
of this

Global Security
	 	 	 	  Principal amount 
of this

Global Security
 following
such
decrease
 or increase
	 	 	 	     Signature of    

authorized
 signatory of

Trustee or
 Custodian

	  
	 		 	  
	 		 	  
	 		 	  
	 		 	  

		 		 		 		 		 		 		 		 	
									
	  
	 		 	  
	 		 	  
	 		 	  
	 		 	  

		 		 		 		 		 		 		 		 	
									
	  
	 		 	  
	 		 	  
	 		 	  
	 		 	  

		 		 		 		 		 		 		 		 	
									
	  
	 		 	  
	 		 	  
	 		 	  
	 		 	  

		 		 		 		 		 		 		 		 	
									
	  
	 		 	  
	 		 	  
	 		 	  
	 		 	  

		 		 		 		 		 		 		 		 	
									
	  
	 		 	  
	 		 	  
	 		 	  
	 		 	  

		 		 		 		 		 		 		 		 	
									
	  
	 		 	  
	 		 	  
	 		 	  
	 		 	  

		 		 		 		 		 		 		 		 	
									
	  
	 		 	  
	 		 	  
	 		 	  
	 		 	  

		 		 		 		 		 		 		 		 	
									
	  
	 		 	  
	 		 	  
	 		 	  
	 		 	  

		 		 		 		 		 		 		 		 	
									
	  
	 		 	  
	 		 	  
	 		 	  
	 		 	  

		 		 		 		 		 		 		 		 	
									
	  
	 		 	  
	 		 	  
	 		 	  
	 		 	  

		 		 		 		 		 		 		 		 	
									
	  
	 		 	  
	 		 	  
	 		 	  
	 		 	  

		 		 		 		 		 		 		 		 	
									
	  
	 		 	  
	 		 	  
	 		 	  
	 		 	  

		 		 		 		 		 		 		 		 	
									
	  
	 		 	  
	 		 	  
	 		 	  
	 		 	  

  
  

3      For Global Securities only. 

 
  

 
 3 Insert for Global Security 

  
 Ex A - 7 

 [FORM OF CONVERSION NOTICE] 

To: Quidel Corporation 
 The undersigned
registered owner of this Note hereby irrevocably exercises the option to convert this Note, or the portion thereof (which is $1,000 or a multiple thereof) below designated, into cash, shares of Common Stock or a combination of cash and shares of
Common Stock, at the Company’s election, in accordance with the terms of the Indenture referred to in this Note, and directs that the check in payment for cash, if any, and the shares, if any, issuable and deliverable upon such conversion,
together with any check in payment for fractional shares and any Notes representing any unconverted principal amount hereof, be issued and delivered to the registered Holder hereof unless a different name has been indicated below. 

If shares or any portion of this Note not converted are to be issued in the name of a Person other than the undersigned, the undersigned will
provide the appropriate information below and pay all transfer taxes payable with respect thereto. In addition, subject to certain exceptions in the Indenture, if this notice is being delivered on a date after the close of business on a Record Date
and prior to the open of business on the related Interest Payment Date, this notice is accompanied by payment of an amount equal to the Interest payable on such Interest Payment Date of the principal of this Note to be converted. 

Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the Indenture. 

Dated: 
  

	
	  

	
	  

	Signature(s)
	
	Signature(s) must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program
(“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.
	
	  

	Signature Guarantee

  
 Ex A - 8 

 Fill in the registration of shares of Common Stock, if any, if to be issued, and Notes, if any,
to be delivered, and the person to whom cash, if any, and payment for fractional shares, if any, is to be made, if other than to and in the name of the registered Holder: 
  

	
	Please print name and address
	
	  

	(Name)
	
	  

	(Street Address)
	
	  

	(City, State and Zip Code)
	
	Principal amount to be converted

   (if less than all, must be $1,000 or
whole multiples thereof): 

	
	
	 $
  

Social Security or Other Taxpayer
   Identification
Number:

	
	  

 NOTICE: The signature on this Conversion Notice must correspond with the name as written upon the face of the Notes in every
particular without alteration or enlargement or any change whatever. 

  
 Ex A - 9 

 [FORM OF FUNDAMENTAL CHANGE PURCHASE NOTICE] 

To: Quidel Corporation 
 The undersigned registered owner of
this Note hereby acknowledges receipt of a notice from Quidel Corporation (the “Company”) as to the occurrence of a Fundamental Change with respect to the Company and specifying the Fundamental Change Purchase Date and requests and
instructs the Company to purchase from the registered holder hereof in accordance with the applicable provisions of the Indenture referred to in this Note (1) the entire principal amount of this Note, or the portion thereof (that is $1,000
principal amount or an integral multiple thereof) below designated, and (2) if such Fundamental Change Purchase Date does not fall during the period after a Record Date and on or prior to the corresponding Interest Payment Date, accrued and
unpaid Interest thereon to, but excluding, such Fundamental Change Purchase Date. 
 In the case of Physical Securities, the certificate numbers of the
Notes to be purchased are as set forth below: 
 Dated: 

	
	  

	
	  

	Signature(s)
	
	  

	 Social Security or Other Taxpayer

Identification Number
  

principal amount to be repaid (if less than all): $          ,000

	
	NOTICE: The signature on the Fundamental Change Purchase Notice must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever.

  
 Ex A - 10 

 [FORM OF ASSIGNMENT AND TRANSFER] 

For value received                   hereby sell(s), assign(s) and
transfer(s) unto                       (Please insert social security or Taxpayer Identification Number of assignee) the within Note, and
hereby irrevocably constitutes and appoints                       attorney to transfer the said Note on the books of the Company, with full
power of substitution in the premises. 
 Dated: 
  

	
	  

	
	  

	Signature(s)
	
	Signature(s) must be guaranteed by an institution which is a member of one of the following recognized signature Guarantee Programs:
	
	(i) The Securities Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP) or (iv) another guarantee program acceptable to
the Trustee.
	
	  

	
	  

	Signature Guarantee

  
 Ex A - 11Exhibit 4.1 Certificate and Order (2017)

Exhibit 4.1
 
UNITEDHEALTH GROUP INCORPORATED

$750,000,000 1.400% Notes due December 15, 2017

Officers’ Certificate and Company Order

Pursuant to the Indenture, dated as of February 4, 2008 (the “Indenture”), between UnitedHealth Group Incorporated, a Minnesota corporation (the “Company”), and U.S. Bank National Association, as trustee (the “Trustee”), and resolutions adopted by the Company’s Board of Directors on October 30, 2007, this Officers’ Certificate and Company Order is being delivered to the Trustee to establish the terms of a series of Securities in accordance with Section 301 of the Indenture, to establish the form of the Securities of such series in accordance with Section 201 of the Indenture, to request the authentication and delivery of the Securities of such series pursuant to Section 303 of the Indenture and to comply with the provisions of Section 102 of the Indenture.  This Officers’ Certificate and Company Order shall be treated for all purposes under the Indenture as a supplemental indenture thereto.  

All conditions precedent provided for in the Indenture relating to (i) the establishment of a series of Securities, (ii) the establishment of the form of Securities of such series and (iii) the procedures for authentication and delivery of such series of Securities have been complied with. 

Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in the Indenture. 

		
	A.
	Establishment of a Series of Securities pursuant to Section 301 of the Indenture. 

There is hereby established pursuant to Section 301 of the Indenture a series of Securities which shall have the following terms: 

		
	(1)
	The Securities shall bear the title “1.400% Notes due December 15, 2017” (referred to herein as the “Notes”).

		
	(2)
	The aggregate principal amount of the Notes to be issued pursuant to this Officers’ Certificate and Company Order shall be limited to $750,000,000 except for (a) Notes authenticated and delivered upon registration of, transfer of, or in exchange for, or in lieu of, other Notes pursuant to Section 304, 305, 306, or 1007 of the Indenture, (b) Notes which, pursuant to Section 303 of the Indenture, are deemed never to have been authenticated and delivered thereunder and (c) any Securities of this series which are issued in the manner contemplated by paragraph 18(a) hereof.

		
	(3)
	Interest will be payable to the Person in whose name a Note (or any Predecessor Security) is registered at the close of business on the Regular Record Date (as defined below) immediately preceding each Interest Payment Date (as defined below).  In the event that a payment of principal or interest is due on a date that is not a Business Day (as defined below), the related payment of principal or interest shall be made on the next succeeding Business Day with the same force and effect as if made on the date such payment was due, and no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date or date of maturity, as the case may be.  “Business Day” shall mean any day other than a Saturday, a Sunday or a day on which banking institutions in New York, New York or Minneapolis, Minnesota are authorized or required by law, regulation or executive order to close.

		
	(4)
	The Stated Maturity of the Notes shall be December 15, 2017. 

		
	(5)
	The Notes shall bear interest at the rate of 1.400% per annum (based upon a 360-day year of twelve 30-day months), from December 8, 2014 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, as the case may be, payable semi-annually in arrears on June 15 and December 15 in each year, commencing June 15, 2015, until the principal thereof is paid or made available for payment.  Each such June 15 and December 15 shall be an “Interest Payment Date” for the Notes, and each June 1 and December 1 (whether or not a Business Day), as the case may be, immediately preceding an Interest Payment Date for the Notes shall be the “Regular Record Date” for the interest payable on such Interest Payment Date.   

The provision related to interest on overdue principal in Section 501 of the Indenture shall not be applicable to the Notes.

		
	(6)
	Principal of (and premium, if any) and interest on the Notes will be payable, and, except as provided in Section 305 of the Indenture with respect to a Global Security (as defined below), the transfer of the Notes will be registrable and Notes will be exchangeable for notes bearing identical terms and provisions at the corporate trust office of U.S. Bank National Association, in St. Paul, Minnesota.  The method of such payment shall be by wire transfer for Notes held in book-entry form or at the option of the Company by check mailed to the Person entitled thereto as shown on the Security Register. 

		
	(7)
	The Notes will be subject to redemption, in whole or in part, at any time before December 15, 2017 (their Stated Maturity), at the option of the Company at a Redemption Price equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed (excluding the portion of any such interest accrued to the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Yield (as defined below), plus 10 basis points, plus, in each case, accrued and unpaid interest thereon to, but not including, the Redemption Date.   

For this purpose, the following terms have the following meanings: 

		
	•
	“Treasury Yield” means, with respect to any Redemption Date, the rate per year equal to the semi-annual equivalent yield to maturity or interpolated (on a day-count basis) yield to maturity of the applicable Comparable Treasury Issue, assuming a price for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury Price for such Redemption Date. 

		
	•
	“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker appointed by the Trustee after consultation with the Company as having an actual or interpolated maturity comparable to the remaining term of the Notes being redeemed, or such other maturity that would be utilized at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes being redeemed.  

		
	•
	“Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations for such Redemption Date, or (ii) if the Trustee obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations.  

		
	•
	“Independent Investment Banker” means any of Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated or Morgan Stanley & Co. LLC or their respective successors or, if such firms are unwilling or unable to select the Comparable Treasury Issue, one of the remaining Reference Treasury Dealers appointed by the Trustee after consultation with the Company.  

		
	•
	“Reference Treasury Dealer” means (i) any of Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated or Morgan Stanley & Co. LLC or their affiliates and any other primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”) designated by, and not affiliated with, any of Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated or Morgan Stanley & Co. LLC; provided, however, that if Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated or Morgan Stanley & Co. LLC or any of their respective affiliates shall cease to be a Primary Treasury Dealer, the Company will appoint another Primary Treasury Dealer as a substitute for such entity and (ii) any other Primary Treasury Dealer selected by the Trustee.  

		
	•
	“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Trustee, of the bid and asked prices for the applicable Comparable Treasury Issue (expressed, in each case, as a percentage of its principal 

2

amount) quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m. on the third Business Day preceding such Redemption Date.  

A notice of redemption may provide that it is subject to certain conditions that will be specified in the notice.  If those conditions are not met, the redemption notice will be of no effect and the Company will not be obligated to redeem the Notes. 

A partial redemption of the Notes may be effected on a pro rata basis (and in such manner as complies with applicable legal and stock exchange requirements, if any) or in such method as the Trustee, in the exercise of its reasonable discretion, deems fair and appropriate.  The Trustee may provide for the selection for redemption of portions in amounts of $1,000 or whole multiples of $1,000; except that if all of the Notes of a Holder are to be redeemed, the entire outstanding amount of Notes held by such Holder, even if not a multiple of $1,000, shall be redeemed. 

Notice of any redemption will be mailed at least 30 days but not more than 60 days before the Redemption Date to each Holder of the Notes to be redeemed. 

Unless any Note called for redemption shall not be paid upon surrender thereof for redemption, on and after the Redemption Date interest will cease to accrue on the Notes or portions thereof called for redemption. 

		
	(8)
	The Company shall not be obligated to redeem or purchase any Notes pursuant to any sinking fund or analogous provisions.

If a Change of Control Triggering Event (as defined below) occurs, unless the Company has exercised its option to redeem all the Notes of this series, the Company shall be required to make an offer (a “Change of Control Offer”) to each Holder of the Notes of this series to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Notes on the terms set forth herein. In a Change of Control Offer, the Company shall be required to offer payment in cash equal to 101% of the aggregate principal amount of Notes of this series repurchased, plus accrued and unpaid interest, if any, on the Notes of this series repurchased to, but not including, the date of repurchase (a “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event or, at the Company’s option, prior to any Change of Control, but after public announcement of the transaction that constitutes or may constitute the Change of Control, a notice shall be transmitted to Holders of the Notes of this series describing the transaction that constitutes or may constitute the Change of Control Triggering Event and offering to repurchase such Notes on the date specified in the notice, which date shall be no earlier than 30 days and no later than 60 days from the date such notice is transmitted (a “Change of Control Payment Date”). The notice shall, if transmitted prior to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control Triggering Event occurring on or prior to the Change of Control Payment Date.

In order to accept the Change of Control Offer, the Holder must deliver to the Paying Agent, at least five Business Days prior to the Change of Control Payment Date, the Holder’s Note together with the form entitled “Election Form” (which form is annexed to the Note) duly completed, or a telegram, telex, facsimile transmission or a letter from a member of a national securities exchange, or the Financial Industry Regulatory Authority or a commercial bank or trust company in the United States setting forth:

		
	(i)
	the name of the Holder of the Note;

		
	(ii)
	the principal amount of the Note;

		
	(iii)
	the principal amount of the Note to be repurchased;

		
	(iv)
	the certificate number or a description of the tenor and terms of the Note;

		
	(v)
	a statement that the Holder is accepting the Change of Control Offer; and

		
	(vi)
	a guarantee that the Note, together with the form entitled “Election Form” duly completed, will be received by the Paying Agent at least five Business Days prior to the Change of Control Payment Date.

3

Any exercise by a Holder of its election to accept the Change of Control Offer shall be irrevocable. The Change of Control Offer may be accepted for less than the entire principal amount of the Note, but in that event the principal amount of the Note remaining outstanding after repurchase must be equal to $2,000 or an integral multiple of $1,000 in excess thereof.

On the Change of Control Payment Date, the Company shall, to the extent lawful:

		
	(i)
	accept for payment all Notes of this series or portions of such Notes properly tendered pursuant to the Change of Control Offer;

		
	(ii)
	deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes of this series or portions of such Notes properly tendered; and

		
	(iii)
	deliver or cause to be delivered to the Trustee the Notes of this series properly accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes of this series or portions of such Notes being repurchased.

The Company shall not be required to make a Change of Control Offer upon the occurrence of a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and the third party purchases all Notes of this series properly tendered and not withdrawn under its offer. In addition, the Company shall not repurchase any Notes of this series if there has occurred and is continuing on the Change of Control Payment Date an Event of Default under the Indenture, other than a default in the payment of the Change of Control Payment upon a Change of Control Triggering Event.

The Company shall comply with the requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes of this series as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations conflict with the Change of Control Offer provisions of the Notes of this series, the Company shall comply with those securities laws and regulations and shall not be deemed to have breached its obligations under the Change of Control Offer provisions of the Notes of this series by virtue of any such conflict.

For purposes of the Change of Control Offer provisions of the Notes of this series, the following terms have the following meanings:

		
	•
	“Change of Control” means the occurrence of any of the following: (1) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or more series of related transactions, of all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, to any person, other than the Company or a Subsidiary; (2) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any person becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Company’s outstanding Voting Stock or other Voting Stock into which the Company’s Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; (3) the Company consolidates with, or merges with or into, any person, or any person consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the Company’s outstanding Voting Stock or the Voting Stock of such other person is converted into or exchanged for cash, securities or other property, other than any such transaction where the shares of the Company’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving person or any direct or indirect parent company of the surviving person immediately after giving effect to such transaction; (4) the first day on which a majority of the members of the Company’s Board of Directors are not Continuing Directors; or (5) the adoption of a plan relating to the Company’s liquidation or dissolution. Notwithstanding the foregoing, a transaction shall not be deemed to involve a Change of Control under clause (2) above if (i) the Company becomes a direct or indirect wholly-owned subsidiary of a holding company and (ii)(A) the direct or indirect holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the Company’s Voting Stock immediately prior to that 

4

transaction or (B) immediately following that transaction no person (other than a holding company satisfying the requirements of this sentence) is the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of such holding company. The term “person,” as used in this definition, has the meaning given thereto in Section 13(d)(3) of the Exchange Act.
    
		
	•
	“Change of Control Triggering Event” means the occurrence of both a Change of Control and a Rating Event.

		
	•
	“Continuing Directors” means, as of any date of determination, any member of the Company’s Board of Directors who (1) was a member of such Board of Directors on the date the Notes of this series were issued or (2) was nominated for election, elected or appointed to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination, election or appointment (either by a specific vote or by approval of the Company’s proxy statement in which such member was named as a nominee for election as a director).

		
	•
	“Fitch” means Fitch, Inc., and its successors.

		
	•
	“Investment Grade Rating” means a rating equal to or higher than BBB- (or the equivalent) by Fitch, Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, and the equivalent investment grade credit rating from any replacement Rating Agency or Rating Agencies selected by the Company.

    
		
	•
	“Moody’s” means Moody’s Investors Service, Inc., and its successors.

		
	•
	“Rating Agencies” means (1) each of Fitch, Moody’s and S&P; and (2) if any of Fitch, Moody’s or S&P ceases to rate the Notes of this series or fails to make a rating of such Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the Exchange Act selected by the Company (as certified by a resolution of the Company’s Board of Directors) as a replacement agency for Fitch, Moody’s or S&P, or all of them, as the case may be.

		
	•
	“Rating Event” means the rating on the Notes of this series is lowered by each of the three Rating Agencies and the Notes of this series are rated below an Investment Grade Rating by each of the three Rating Agencies on any day during the period (which period shall be extended so long as the rating of the Notes of this series is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) commencing on the date of the first public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control and ending 60 days following consummation of such Change of Control.

		
	•
	“S&P” means Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, Inc., and its successors.

		
	•
	“Voting Stock” means, with respect to any specified “person” (as that term is used in Section 13(d)(3) of the Exchange Act) as of any date, the capital stock of such person that is at the time entitled to vote generally in the election of the board of directors of such person.

		
	(9)
	The Notes shall not be convertible into shares of Common Stock of the Company or exchangeable for any other securities. 

		
	(10)
	The Trustee shall be the Security Registrar and the Paying Agent. 

		
	(11)
	The amount of payments of principal of and any premium or interest on the Notes will not be determined with reference to an index. 

		
	(12)
	The Notes shall be subject to the covenants and definitions set forth in the Indenture. 

		
	(13)
	The Notes will be issued only in fully registered form and the minimum initial purchase amounts of the Notes shall be $2,000 and any whole multiples of $1,000 in excess thereof. 

5

		
	(14)
	The Notes shall be subject to the Events of Default specified in Section 701, paragraphs (i) through (vii), of the Indenture.  

		
	(15)
	The portion of the principal amount of the Notes which shall be payable upon declaration of acceleration of maturity thereof shall not be less than the principal amount thereof. 

		
	(16)
	The Notes shall be “Global Securities” as defined in the Indenture, and shall be deposited with, or on behalf of, The Depository Trust Company, New York, New York, as Depositary, registered in the name of a nominee of the Depositary.  So long as the Depositary or its nominee is the registered holder of any Global Security, the Depositary or its nominee, as the case may be, shall be considered the sole Holder of the Notes represented by such Global Security for all purposes under the Indenture.  The forms and terms of the Notes and the Trustee’s certificate of authentication shall be substantially as set forth on Exhibit B hereto. The terms and provisions contained in the form of Notes set forth in Exhibit B shall constitute, and are hereby expressly made, a part of the Indenture as supplemented by this Officers’ Certificate and Company Order.  

		
	(17)
	The defeasance provisions set forth in Article IX of the Indenture shall apply to the Notes. 

		
	(18)
	The following additional terms shall apply to the Notes:

		
	(a)
	Further Issuances.  The Company may, so long as no Event of Default has occurred, without the consent of the Holders of the Notes, issue additional notes with the same terms as the Notes in accordance with the corporate authority existing at the time of such additional issuance, and such additional notes shall be considered part of the same series under the Indenture as the Notes and will vote together with the Notes as one class on all matters with respect to the Notes.

		
	(b)
	Transfer and Exchange.

		
	(i)
	The transfer and exchange of Global Securities or beneficial interests therein shall be effected through the Depositary, in accordance with this Officers’ Certificate and Company Order (including applicable restrictions on transfer set forth herein, if any) and the procedures of the Depositary therefor. A transferor of a beneficial interest in a Global Security shall deliver to the Security Registrar a written order given in accordance with the Depositary’s procedures containing information regarding the participant account of the Depositary to be credited with a beneficial interest in the Global Security. The Security Registrar shall, in accordance with such instructions, instruct the Depositary to credit to the account of the Person specified in such instructions a beneficial interest in the Global Security and to debit the account of the Person making the transfer the beneficial interest in the Global Security being transferred.  Each Holder of a Security agrees to indemnify the Company and the Trustee against any liability that may result from the transfer, exchange or assignment of such Holder’s Security in violation of any provision of the Indenture and/or applicable United States federal or state securities law.

		
	(ii)
	Each Global Security shall bear the global security legend set forth on Exhibit A hereto.

(19) The CUSIP number for the global Note is 91324P CF7 and the ISIN number for the global Note is US91324PCF71.  

		
	B.
	Establishment of Forms of Securities Pursuant to Section 201 of Indenture. 

It is hereby established, pursuant to Section 201 of the Indenture, that the Global Security representing the Notes shall be substantially in the form attached as Exhibit B hereto.

		
	C.
	Order for the Authentication and Delivery of Securities Pursuant to Section 303 of the Indenture. 

It is hereby ordered pursuant to Section 303 of the Indenture that the Trustee authenticate, in the manner provided by the Indenture, the Notes in the aggregate principal amount of $750,000,000 registered in the name of Cede & Co., which Notes have been heretofore duly executed by the proper officers of the Company and delivered to you as provided in the Indenture, and to deliver said authenticated Notes to or on behalf of The Depository Trust Company on or before 10:30 a.m., Central Standard Time, on December 8, 2014. 

6

		
	D.
	Other Matters. 

The Company has provided to the Trustee true and correct copies of resolutions adopted by the Board of Directors of the Company on October 30, 2007, January 18, 2008 and February 12, 2014; such resolutions have not been further amended, modified or rescinded and remain in full force and effect; and such resolutions (together with this Officers’ Certificate and Company Order) are the only resolutions or other action adopted by the Company’s Board of Directors or any committee thereof or by any officers of the Company relating to the offering and sale of the Notes. 

The undersigned Senior Vice President and Treasurer being an Authorized Representative as defined in the resolutions of the Board of Directors of the Company adopted on October 30, 2007 certifies that (i) he has approved the terms of the Notes as set forth in this Officers’ Certificate and Company Order, (ii) he has approved and ratified the terms and form of the Underwriting Agreement (the “Underwriting Agreement”) and Pricing Agreement (the “Pricing Agreement”), each dated December 3, 2014, by and among the Company and Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC, as representatives of the underwriters named in Schedule I to the Pricing Agreement, and (iii) he has approved and ratified the Indenture, all in accordance with the authority of such officer pursuant to such resolutions. 

The undersigned have read the pertinent sections of the Indenture including the related definitions contained therein.  The undersigned have examined the resolutions adopted by the Board of Directors of the Company.  In the opinion of the undersigned, the undersigned have made such examination or investigation as is necessary to enable the undersigned to express an informed opinion as to whether or not the conditions precedent to (i) the establishment of the Notes, (ii) the establishment of the forms of the Notes and (iii) the authentication of the Notes, contained in the Indenture have been complied with.  In the opinion of the undersigned, such conditions have been complied with. 
 
Simpson Thacher & Bartlett LLP, Richard Mattera, Senior Deputy General Counsel for the Company, and Hogan Lovells US LLP are entitled to rely on this Officers’ Certificate and Company Order in connection with the opinions they are rendering pursuant to Sections 10(b), 10(c), and 10(d), respectively, of the Underwriting Agreement.

[Signature Page to Follow]

7

IN WITNESS WHEREOF, the undersigned have executed this Officers’ Certificate and Company Order this 8th day of December, 2014. 
	
				
	 
	 
	 
	UNITEDHEALTH GROUP INCORPORATED

	 
	 
	 
	/s/ Robert W. Oberrender

	 
	 
	 
	Robert W. Oberrender

	 
	 
	 
	Senior Vice President and Treasurer

	 
	 
	 
	 

	 
	 
	 
	/s/ Richard Mattera

	 
	 
	 
	Richard Mattera

	 
	 
	 
	Senior Deputy General Counsel and Assistant Secretary

 

 

8

EXHIBIT A
FORM OF LEGENDS
Global Security Legend
THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO BELOW AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY. THIS NOTE IS EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY) MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) 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 SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., 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.

EXHIBIT B
FORM OF GLOBAL SECURITY
[See attached.]

1

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO BELOW AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY. THIS NOTE IS EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY) MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) 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 SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., 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.
	
			
	REGISTERED
	UNITEDHEALTH GROUP
INCORPORATED
	$[     ] 

	No. [     ]
	1.400% Notes due 
December 15, 2017
	CUSIP No. 91324P CF7
ISIN No:  US91324PCF71

UNITEDHEALTH GROUP INCORPORATED, a Minnesota corporation (hereinafter called the “Company,” which term includes any successor corporation under the Indenture referred to on the reverse side hereof), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of [     ] Dollars ($[     ]) on December 15, 2017 (the “Stated Maturity”), and to pay interest thereon from December 8, 2014 or from the most recent date to which interest has been paid or duly provided for, semi-annually in arrears on June 15 and December 15 in each year (each, an “Interest Payment Date”), commencing June 15, 2015, and at maturity, at the rate of 1.400% per annum, until the principal hereof is paid or duly made available for payment.  Interest on this Note shall be calculated on the basis of a 360-day year consisting of twelve 30-day months. The interest so payable and punctually paid or duly provided for on any Interest Payment Date shall, as provided in the Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the “Regular Record Date” for such interest, which shall be the June 1 or December 1 (whether or not a Business Day, as hereinafter defined) immediately preceding each such Interest Payment Date.  Any such interest which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date shall forthwith cease to be payable to the registered Holder hereof on the relevant Regular Record Date by virtue of having been such Holder, and may be paid (i) to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to the Holder of this Note not less than 10 days prior to such Special Record Date or (ii) in any other lawful manner not inconsistent with the requirements of any securities exchange on which this Note 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 (ii), such manner of payment shall be deemed practicable by the Trustee. In the event that a payment of principal or interest is due on a date that is not a Business Day (as defined below), the related payment of principal or interest shall be made on the next succeeding Business Day with the same force and effect as if made on the date such payment was due, and no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date or date of maturity, as the case may be. “Business Day” shall mean any day other than a Saturday, a Sunday or a day on which banking institutions in New York, New York or Minneapolis, Minnesota are authorized or required by law, regulation or executive order to close.
Payment of the principal of and the interest on this Note will be made at the corporate trust office of U.S. Bank National Association, in St. Paul, Minnesota, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. The method of such payment shall be by wire transfer for a Note held in book-entry form or at the option of the Company by check mailed to the Person entitled thereto as shown on the Security Register. Payment of the principal of and interest on this Note due at maturity will be made in immediately available funds upon presentation of this Note.
Reference is hereby made to the further provisions of this Note set forth on the reverse side hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

2

Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee under the Indenture by the manual signature of one of its authorized signatories, this Note shall not be entitled to any benefits under the Indenture or be valid or obligatory for any purpose.

[SIGNATURE PAGE TO FOLLOW]

3

IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed.
Dated:  December ____, 2014
	
					
	 
	 
	 
	UNITEDHEALTH GROUP INCORPORATED

	 
	 
	 
	By:
	 

	 
	 
	 
	 
	Name: Robert W. Oberrender

	 
	 
	 
	 
	Title: Senior Vice President and Treasurer

	 
	 
	 
	 
	 

	 
	 
	 
	Attest:
	 

	 
	 
	 
	 
	Name: Richard Mattera

	 
	 
	 
	 
	Title: Senior Deputy General Counsel and Assistant Secretary

 
 
TRUSTEE’S CERTIFICATE OF
AUTHENTICATION
This is one of the Securities of the
series designated herein and issued
pursuant to the within-mentioned
Indenture.
Dated:  December ____, 2014
U.S. BANK NATIONAL ASSOCIATION,
as Trustee

By: ____________________________
      Authorized Signatory
          

UnitedHealth Group Incorporated

4

[REVERSE SIDE OF NOTE]
This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”) issued and to be issued in one or more series under an indenture, dated as of February 4, 2008, between the Company and U.S. Bank National Association, as trustee (the “Trustee,” which term includes any successor trustee), as further supplemented by an Officers’ Certificate and Company Order dated December 8, 2014 pursuant to Section 301 of the indenture (together, the “Indenture”) between the Company and the Trustee, to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, limited in initial aggregate principal amount to $750,000,000; provided, however, that the Company may, so long as no Event of Default has occurred and is continuing, without the consent of the Holders of the Notes of this series, issue additional notes with the same terms as the Notes of this series, and such additional notes shall be considered part of the same series under the Indenture as the Notes of this series.
Optional Redemption
This Note is redeemable, in whole or in part, at any time before December 15, 2017 (its Stated Maturity), at the option of the Company at a Redemption Price equal to the greater of (i) 100% of the principal amount of this Note to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on this Note to be redeemed (excluding the portion of any such interest accrued to the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Yield (as defined below), plus 10 basis points, plus, in each case, accrued and unpaid interest thereon to, but not including, the Redemption Date. 
For this purpose, the following terms have the following meanings:
		
	•
	“Treasury Yield” means, with respect to any Redemption Date, the rate per year equal to the semi-annual equivalent yield to maturity or interpolated (on a day count basis) yield to maturity of the applicable Comparable Treasury Issue, assuming a price for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury Price for such Redemption Date.

		
	•
	“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker appointed by the Trustee after consultation with the Company as having an actual or interpolated maturity comparable to the remaining term of this Note being redeemed, or such other maturity that would be utilized at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of this Note being redeemed.

		
	•
	“Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations for such Redemption Date, or (ii) if the Trustee obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations.

		
	•
	“Independent Investment Banker” means any of Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated or Morgan Stanley & Co. LLC or their respective successors or, if such firms are unwilling or unable to select the Comparable Treasury Issue, one of the remaining Reference Treasury Dealers appointed by the Trustee after consultation with the Company.

		
	•
	“Reference Treasury Dealer” means (i) any of Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated or Morgan Stanley & Co. LLC or their affiliates and any other primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”) designated by, and not affiliated with, any Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated or Morgan Stanley & Co. LLC; provided, however, that if Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated or Morgan Stanley & Co. LLC or any of their respective affiliates shall cease to be a Primary Treasury Dealer, the Company will appoint another Primary Treasury Dealer as a substitute for such entity and (ii) any other Primary Treasury Dealer selected by the Trustee.

 

5

		
	•
	“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Trustee, of the bid and asked prices for the applicable Comparable Treasury Issue (expressed, in each case, as a percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m. on the third Business Day preceding such Redemption Date.

A notice of redemption may provide that it is subject to certain conditions that will be specified in the notice. If those conditions are not met, the redemption notice will be of no effect and the Company will not be obligated to redeem this Note.
A partial redemption of the Notes may be effected on a pro rata basis (and in such manner as complies with applicable legal and stock exchange requirements, if any) or in such method as the Trustee, in the exercise of its reasonable discretion, deems fair and appropriate. The Trustee may provide for the selection for redemption of portions in amounts of $1,000 or whole multiples of $1,000; except that if all of the Notes of a Holder are to be redeemed, the entire outstanding amount of Notes held by such Holder, even if not a multiple of $1,000, shall be redeemed.
Notice of any redemption will be mailed at least 30 days but not more than 60 days before the Redemption Date to each Holder of the Notes to be redeemed.
Unless any Note called for redemption shall not be paid upon surrender thereof for redemption, on and after the Redemption Date interest will cease to accrue on the Notes or portions thereof called for redemption.
This Note will not be entitled to any sinking fund.
Change of Control Offer
If a Change of Control Triggering Event (as defined herein) occurs, unless the Company has exercised its option to redeem all the Notes of this series, the Company shall be required to make an offer (a “Change of Control Offer”) to each Holder of the Notes of this series to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Notes on the terms set forth herein. In a Change of Control Offer, the Company shall be required to offer payment in cash equal to 101% of the aggregate principal amount of Notes of this series repurchased, plus accrued and unpaid interest, if any, on the Notes of this series repurchased to, but not including, the date of repurchase (a “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event or, at the Company’s option, prior to any Change of Control, but after public announcement of the transaction that constitutes or may constitute the Change of Control, a notice shall be transmitted to Holders of the Notes of this series describing the transaction that constitutes or may constitute the Change of Control Triggering Event and offering to repurchase such Notes on the date specified in the notice, which date shall be no earlier than 30 days and no later than 60 days from the date such notice is transmitted (a “Change of Control Payment Date”). The notice shall, if transmitted prior to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control Triggering Event occurring on or prior to the Change of Control Payment Date.
In order to accept the Change of Control Offer, the Holder must deliver to the Paying Agent, at least five Business Days prior to the Change of Control Payment Date, this Note together with the form entitled “Election Form” (which form is annexed hereto) duly completed, or a telegram, telex, facsimile transmission or a letter from a member of a national securities exchange, or the Financial Industry Regulatory Authority or a commercial bank or trust company in the United States setting forth:
(i)    the name of the Holder of this Note;
(ii)    the principal amount of this Note;
(iii)    the principal amount of this Note to be repurchased;
(iv)    the certificate number or a description of the tenor and terms of this Note;
(v)    a statement that the Holder is accepting the Change of Control Offer; and
(vi)    a guarantee that this Note, together with the form entitled “Election Form” duly completed, will be received by the Paying Agent at least five Business Days prior to the Change of Control Payment Date.

6

Any exercise by a Holder of its election to accept the Change of Control Offer shall be irrevocable. The Change of Control Offer may be accepted for less than the entire principal amount of this Note, but in that event the principal amount of this Note remaining outstanding after repurchase must be equal to $2,000 or an integral multiple of $1,000 in excess thereof.
On the Change of Control Payment Date, the Company shall, to the extent lawful:
(i)    accept for payment all Notes of this series or portions of such Notes properly tendered pursuant to the Change of Control Offer;
(ii)    deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes of this series or portions of such Notes properly tendered; and
(iii)    deliver or cause to be delivered to the Trustee the Notes of this series properly accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes of this series or portions of such Notes being repurchased.
The Company shall not be required to make a Change of Control Offer upon the occurrence of a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and the third party purchases all Notes of this series properly tendered and not withdrawn under its offer. In addition, the Company shall not repurchase any Notes of this series if there has occurred and is continuing on the Change of Control Payment Date an Event of Default under the Indenture, other than a default in the payment of the Change of Control Payment upon a Change of Control Triggering Event.
The Company shall comply with the requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes of this series as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations conflict with the Change of Control Offer provisions of the Notes of this series, the Company shall comply with those securities laws and regulations and shall not be deemed to have breached its obligations under the Change of Control Offer provisions of the Notes of this series by virtue of any such conflict.
For purposes of the Change of Control Offer provisions of the Notes of this series, the following terms are applicable:
		
	•
	“Change of Control” means the occurrence of any of the following: (1) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or more series of related transactions, of all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, to any person, other than the Company or a Subsidiary; (2) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any person becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Company’s outstanding Voting Stock or other Voting Stock into which the Company’s Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; (3) the Company consolidates with, or merges with or into, any person, or any person consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the Company’s outstanding Voting Stock or the Voting Stock of such other person is converted into or exchanged for cash, securities or other property, other than any such transaction where the shares of the Company’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving person or any direct or indirect parent company of the surviving person immediately after giving effect to such transaction; (4) the first day on which a majority of the members of the Company’s Board of Directors are not Continuing Directors; or (5) the adoption of a plan relating to the Company’s liquidation or dissolution. Notwithstanding the foregoing, a transaction shall not be deemed to involve a Change of Control under clause (2) above if (i) the Company becomes a direct or indirect wholly-owned subsidiary of a holding company and (ii)(A) the direct or indirect holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the Company’s Voting Stock immediately prior to that transaction or (B) immediately following that transaction no person (other than a holding company satisfying the requirements of this sentence) is the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of such holding company. The term “person,” as used in this definition, has the meaning given thereto in Section 13(d)(3) of the Exchange Act.

		
	•
	“Change of Control Triggering Event” means the occurrence of both a Change of Control and a Rating Event.

7

		
	•
	“Continuing Directors” means, as of any date of determination, any member of the Company’s Board of Directors who (1) was a member of such Board of Directors on the date the Notes of this series were issued or (2) was nominated for election, elected or appointed to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination, election or appointment (either by a specific vote or by approval of the Company’s proxy statement in which such member was named as a nominee for election as a director).

		
	•
	“Fitch” means Fitch, Inc., and its successors.

		
	•
	“Investment Grade Rating” means a rating equal to or higher than BBB- (or the equivalent) by Fitch, Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, and the equivalent investment grade credit rating from any replacement Rating Agency or Rating Agencies selected by the Company.

		
	•
	“Moody’s” means Moody’s Investors Service, Inc., and its successors.

		
	•
	“Rating Agencies” means (1) each of Fitch, Moody’s and S&P; and (2) if any of Fitch, Moody’s or S&P ceases to rate the Notes of this series or fails to make a rating of such Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the Exchange Act selected by the Company (as certified by a resolution of the Company’s Board of Directors) as a replacement agency for Fitch, Moody’s or S&P, or all of them, as the case may be.

		
	•
	“Rating Event” means the rating on the Notes of this series is lowered by each of the three Rating Agencies and the Notes of this series are rated below an Investment Grade Rating by each of the three Rating Agencies on any day during the period (which period shall be extended so long as the rating of the Notes of this series is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) commencing on the date of the first public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control and ending 60 days following consummation of such Change of Control.

		
	•
	“S&P” means Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, Inc., and its successors.

		
	•
	“Voting Stock” means, with respect to any specified “person” (as that term is used in Section 13(d)(3) of the Exchange Act) as of any date, the capital stock of such person that is at the time entitled to vote generally in the election of the board of directors of such person.

Miscellaneous Provisions
If an Event of Default with respect to the Notes shall occur and be continuing, the principal of the Notes may be declared due and payable in the manner and with the effect provided in the Indenture.
The Indenture contains provisions for defeasance at any time of the Company’s obligations in respect of (i) the entire indebtedness of this Note or (ii) certain restrictive covenants with respect to this Note, in each case upon compliance with certain conditions set forth therein.
The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series issued under the Indenture at any time by the Company and the Trustee with the consent of the Holders of not less than a majority in aggregate principal amount of the Securities of all series at the time Outstanding affected thereby. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of the Securities of any series at the time Outstanding to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Notes issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note.
No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest on this Note, at the time, place and rate, and in the coin or currency, herein and in the Indenture prescribed.
As provided in the Indenture and subject to certain limitations set forth therein and in this Note, the transfer of this Note is registrable in the registry books of the Company, upon surrender of this Note for registration of transfer at the office or agency of the Company where the principal of (and premium, if any) and interest on this Note are payable, duly endorsed, or accompanied 

8

by a written instrument of transfer in form satisfactory to the Company and the Trustee, duly executed by the Holder hereof or by his attorney duly authorized in writing, and thereupon one or more new Notes, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.
The Notes of this series are issuable only in fully registered form without coupons in minimal initial purchase amounts of $2,000 and whole multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes of this series are exchangeable for a like aggregate principal amount of Notes of this series which are of like tenor for any authorized denomination, as requested by the Holder surrendering the same.
No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith, other than in certain cases provided in the Indenture.
Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.
This Note shall be governed by and construed in accordance with the laws of the State of New York, without regard to its conflicts of laws provisions.
All capitalized terms used in this Note which are not defined herein shall have the meanings assigned to them in the Indenture.

9

ASSIGNMENT FORM
	
		
	I or we assign and transfer this Note

	 

	 

	(Print or type name, address and zip code of assignee or transferee)

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

	Dated:                         
	Signed:                        

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

	Signature Guarantee:                 
	 

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

10

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY

Initial Principal Amount at maturity of Global Security: [     ] Dollars ($[     ]).
The following exchanges of a part of this Global Security for an interest in another Global Security or for a certificated note, or exchanges of a part of another Global Security or certificated note for an interest in this Global Security, have been made:
	
					
	Date of Exchange
	Amount of decrease
in
Principal Amount of
this Global Security
	Amount of increase
in
Principal Amount of
this Global Security
	Principal Amount of
this Global Security
following such
decrease
(or increase)
	Signature of
authorized officer
of
Trustee or Note
Custodian

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

ELECTION FORM
 
TO BE COMPLETED ONLY IF THE HOLDER
ELECTS TO ACCEPT THE CHANGE OF CONTROL OFFER

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The undersigned hereby irrevocably requests and instructs the Company to repurchase the within Note (or the portion thereof specified below), pursuant to its terms, on the Change of Control Payment Date specified in the Change of Control Offer, for the Change of Control Payment specified in the within Note, to the undersigned,____________________________________, at  _________________________________________ (please print or typewrite name and address of the undersigned).

For this election to accept the Change of Control Offer to be effective, the Company must receive, at the address of the Paying Agent set forth below or at such other place or places of which the Company shall from time to time notify the Holder of the within Note, either (i) this Note with this “Election Form” form duly completed, or (ii) a telegram, telex, facsimile transmission or a letter from a member of a national securities exchange or the Financial Industry Regulatory Authority or a commercial bank or a trust company in the United States setting forth (a) the name of the Holder of the Note, (b) the principal amount of the Note, (c) the principal amount of the Note to be repurchased, (d) the certificate number or description of the tenor and terms of the Note, (e) a statement that the option to elect repurchase is being exercised, and (f) a guarantee stating that the Note to be repurchased, together with this “Election Form” duly completed will be received by the Paying Agent five Business Days prior to the Change of Control Payment Date. The address of the Paying Agent is U.S. BANK NATIONAL ASSOCIATION, 60 Livingston Avenue, EP-MN-WS3C, St. Paul, MN 55107-2292.

If less than the entire principal amount of the within Note is to be repurchased, specify the portion thereof (which principal amount must be $2,000 or an integral multiple of $1,000 in excess thereof) which the Holder elects to have repurchased: $__________________________. 

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