Document:

Form of Executive Change in Control Agreement

 Exhibit 10.2(e)-1 
 Form of Executive Change in Control Agreement 
                          , 200   
 __________________ 
 __________________ 
 __________________ 
 Dear
                                : 
 Ryerson Inc. (“RYERSON”) considers it essential to the best interests of its stockholders to foster the continuous employment of key management
personnel of RYERSON and its subsidiaries (collectively, the “Company”). In this connection, the Board of Directors of RYERSON (the “Board”) recognizes that, as is the case with many publicly held corporations, the possibility of
a change in control may exist and that such possibility, and the uncertainty and questions which it may raise among management, may result in the departure or distraction of management personnel to the detriment of RYERSON and its stockholders.

 The Board has determined that appropriate steps should be taken to reinforce and encourage the continued attention and dedication of
members of the Company’s management, including yourself, to their assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a change in control of the Company. In order to induce you
to remain in the employ of the Company, RYERSON agrees that you shall receive the severance benefits set forth in this letter agreement (“Agreement”) in the event your employment with the Company is terminated subsequent to a “change
in control of the Company” or a “potential change in control of the Company” (as such terms are defined in Section 2 hereof) under the circumstances described below (or, in certain circumstances described below, in advance of
such a change in control or potential change in control of the Company). This Agreement shall constitute an amendment and restatement of and shall supersede any prior agreement entered into between you and RYERSON with respect to these matters. In
the event that you receive severance benefits hereunder, such benefits shall be in lieu of, and you shall not be entitled to receive, any benefits or payments under any other severance plan or policy of the Company or any agreement with the Company,
and the provisions of Sections 7 through 9 hereof shall supercede any provisions relating to comparable matters under such other severance plan or policy or such other agreement. In addition, if you are or become entitled to benefits from the
Company pursuant to another agreement providing for benefits on account of a change in control or the law of a jurisdiction other than the United States or any state or territory thereof as a result of an event for which benefits are payable to you
pursuant to this Agreement, the benefits paid to you pursuant to this Agreement shall be reduced by the amount paid to you pursuant to such other agreement or law. 
 1. Term of Agreement. This Agreement shall commence on the date hereof and shall continue in effect until the first anniversary of
the date on which RYERSON gives you a written notice of termination of the Agreement. Notwithstanding the 

 
preceding sentence, if a change in control of the Company or a potential change in control of the Company shall have occurred during the original or extended
term of this Agreement, this Agreement shall continue in effect for a period of twenty-four (24) months beyond the month in which such change in control of the Company or potential change in control of the Company occurred. 
 2. Definitions: Change in Control; Potential Change in Control. 
 (i) Change in Control. For purposes of this Agreement, a “change in control of the Company” shall be deemed to have
occurred if: 
 (A) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”)), other than (w) the Company, (x) a trustee or other fiduciary holding voting securities under an employee benefit plan of the Company, (y) an underwriter temporarily holding voting
securities pursuant to an offering of such securities, or (z) a corporation owned, directly or indirectly, by the security holders of RYERSON in substantially the same proportions as their ownership of voting securities of RYERSON, is or
becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of voting securities of RYERSON (not including in the voting securities beneficially owned by such person any voting securities
acquired directly from RYERSON or its affiliates) representing 20% or more of the combined voting power of RYERSON’s then outstanding voting securities; 
 (B) during any period of two consecutive years (not including any period prior to the execution of this Agreement), individuals who at
the beginning of such period constitute the Board and any new director whose election by the Board or nomination for election by RYERSON’s security holders was approved by a vote of at least two-thirds (2/3) of the directors then still in
office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved (collectively, “Continuing Directors”), cease for any reason to constitute a majority thereof;
provided, however, that any director who assumes office in connection with an agreement with the Company to effect a transaction described in clauses (A), (C) or (D) of this Subsection 2(i) or any new director who assumes office in
connection with or as a result of an actual or threatened proxy or other election contest of the Board shall never be (at any time) a Continuing Director for purposes of this Subsection 2(i)(B), and the nomination or election of such person shall
never constitute, or be deemed to constitute, an approval by the Continuing Directors for purposes of this Subsection 2(i)(B) (provided that for the purposes of funding any rabbi trust or similar escrow agreement, any change in control of the
Company under this Subsection 2(i)(B) shall be deemed to occur at the beginning of the day of the stockholders’ meeting at which the stockholders are asked to vote on a slate of directors that could result in Continuing Directors ceasing to
constitute a majority of the Board); 
  

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 (C) there occurs a merger or consolidation of RYERSON with any other corporation, other
than a merger or consolidation which would result in the voting securities of RYERSON outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity
or the direct or indirect parent thereof), in combination with the ownership of any trustee or other fiduciary holding voting securities under an employee benefit plan of the Company, at least 60% of the combined voting power of the voting
securities of RYERSON or such surviving entity or the direct or indirect parent thereof outstanding immediately after such merger or consolidation, or a merger or consolidation effected to implement a recapitalization of RYERSON (or similar
transaction) in which no person acquires more than 40% of the combined voting power of RYERSON’s then outstanding voting securities; 
 (D) the holders of voting securities of RYERSON approve a plan of complete liquidation of RYERSON or an agreement for the sale or disposition by RYERSON of all or substantially all of RYERSON’s assets; or

 (E) there occurs any other event that the Board deems to be a change in control of the Company. 
 (ii) Potential Change in Control. For purposes of this Agreement, a “potential change in control of the Company” shall be
deemed to have occurred if: 
 (A) RYERSON enters into an agreement, the consummation of which would result in the occurrence
of a change in control of the Company; 
 (B) any person (including RYERSON) publicly announces an intention to take or to
consider taking actions which if consummated would constitute a change in control of the Company; 
 (C) any person, other
than (w) the Company, (x) a trustee or other fiduciary holding voting securities under an employee benefit plan of the Company, (y) an underwriter temporarily holding voting securities pursuant to an offering of such securities, or
(z) a corporation owned, directly or indirectly, by the security holders of RYERSON in substantially the same proportions as their ownership of voting securities of RYERSON, who is or becomes the beneficial owner, directly or indirectly, of
voting securities of RYERSON representing 9.5% or more of the combined voting power of RYERSON’s then outstanding voting securities, increases his beneficial ownership of such securities by 5% or more over the percentage so owned by such person
on the date hereof; or 
  

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 (D) the Board adopts a resolution to the effect that, for purposes of this Agreement, a
potential change in control of the Company has occurred. 
 3. Definitions: Disability; Retirement; Cause; Good Reason;
Notice of Termination; Date of Termination. 
 (i) Disability; Retirement. If you cannot perform your full-time
duties with the Company due to physical or mental incapacity and have exhausted all of your short-term disability plan benefits, your employment may be terminated for “Disability”. Termination of your employment based on
“Retirement” shall mean voluntary retirement entitling you to a pension benefit afforded by the Company’s defined benefit pension plan applicable to its salaried employees or in accordance with any retirement arrangement established
with your consent with respect to you. 
 (ii) Cause. Termination by the Company of your employment for
“Cause” shall mean termination upon (A) the willful and continued failure by you to substantially perform your duties with the Company (other than any such failure resulting from your incapacity due to physical or mental illness or
any such actual or anticipated failure after the issuance of a Notice of Termination by you for Good Reason as defined in Subsections 3(iv) and 3(iii), respectively) after a written demand for substantial performance is delivered to you by the
Board, which demand specifically identifies the manner in which the Board believes that you have not substantially performed your duties, or (B) the willful engaging by you in conduct which is demonstrably and materially injurious to the
Company, monetarily or otherwise. For purposes of this Subsection 3(ii), no act, or failure to act, on your part shall be deemed “willful” unless done, or omitted to be done, by you not in good faith and without reasonable belief that your
action or omission was in the best interest of the Company. Notwithstanding the foregoing, you shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to you a copy of a resolution duly adopted by the
affirmative vote of not less than three-quarters (3/4) of the entire membership of the Board at a meeting of the Board called and held for such purpose (after reasonable notice to you and an opportunity for you, together with your counsel, to
be heard before the Board), finding that in the good faith opinion of the Board you were guilty of conduct set forth above in clauses (A) or (B) of the first sentence of this Subsection 3(ii) and specifying the particulars thereof in
detail; provided that, in the event of a dispute concerning the application of this provision, no claim by the Company that Cause exists shall be given effect unless the Company establishes in a legal proceeding by clear and convincing evidence that
Cause exists. 
  

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 (iii) Good Reason. You shall be entitled to terminate your employment for Good
Reason. For purposes of this Agreement, “Good Reason” shall mean: without your express written consent, the occurrence after a change in control or after a potential change in control of the Company of any of the following circumstances
unless, in the case of paragraphs (A), (E), (F), (G) or (H), such circumstances are fully corrected prior to the Date of Termination specified in the Notice of Termination, as defined in Subsections 3(v) and 3(iv), respectively, given in
respect thereof: 
 (A) the assignment to you of any duties materially inconsistent with your status as an executive officer
of the Company, or a substantial adverse alteration in the nature or status of your responsibilities from those in effect immediately prior to the change in control or potential change in control of the Company; provided, however, that a change in
the Company’s status from a public company to a private company does not in and of itself constitute a substantial adverse alteration unless such change results in a material diminution in your authority, duties or responsibilities; 

(B) a reduction by the Company in your annual base salary as in effect on the date of the change in control or potential change in
control of the Company; 
 (C) the Company’s requiring that your principal place of business be at an office located
more than 50 miles from where your principal place of business is located immediately prior to the change in control or potential change in control of the Company, except for required travel on the Company’s business to an extent substantially
consistent with your business travel obligations immediately prior to the change in control or potential change in control of the Company; 
 (D) the failure by the Company, without your consent, to pay to you any portion of your current compensation, or to pay to you any portion of an installment of deferred compensation under any deferred compensation
program of the Company, within seven (7) days of the date such compensation is due; 
 (E) the failure by the Company to
continue in effect any compensation plan in which you participate immediately prior to the change in control or potential change in control of the Company which is material to your total compensation, including but not limited to the Ryerson Annual
Incentive Plan (the “Annual Incentive Plan”), Ryerson 2002 Incentive Stock Plan and any predecessor or successor thereto (collectively, the “Incentive Stock Plans”), Ryerson Nonqualified Savings Plan (the “Nonqualified
Savings Plan”), or the Ryerson Savings Plan (the “Savings Plan”) or any substitute or alternative plans adopted prior to the change in control or potential change in control of the Company, unless an equitable arrangement (embodied in
an ongoing substitute or alternative plan) has 

  

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been made with respect to such plan, or the failure by the Company to continue your participation therein (or in such substitute or alternative plan) on a
basis not materially less favorable, including, but not limited to, in terms of the amount of benefits provided, the level of your participation relative to other participants, and benefit opportunities, as existed at the time of the change in
control or potential change in control of the Company; 
 (F) the failure by the Company to continue to provide you with
benefits substantially similar to those enjoyed by you under any of the Company’s defined contribution plans, life insurance, medical, dental, or short-term and long term disability plans or programs in which you were participating at the time
of the change in control or potential change in control of the Company, the taking of any action by the Company which would directly or indirectly materially reduce any of such benefits or deprive you of any material fringe benefit enjoyed by you at
the time of the change in control or potential change in control of the Company, or the failure by the Company to provide you with the number of paid vacation days to which you are entitled on the basis of years of service with the Company in
accordance with the Company’s normal vacation policy in effect at the time of the change in control or potential change in control of the Company; 
 (G) the failure of RYERSON to obtain a satisfactory agreement from any successor to assume and agree to perform this Agreement, as contemplated in Section 10 hereof; or 
 (H) any purported termination of your employment which is not effected pursuant to a Notice of Termination satisfying the requirements of
Subsection 3(iv) below (and, if applicable, the requirements of Subsection 3(ii) above); for purposes of this Agreement, no such purported termination shall be effective. 
 Your right to terminate your employment pursuant to this Section 3 shall not be affected by your incapacity due to physical or mental illness. Your continued employment shall not constitute consent to, or a
waiver of rights with respect to, any circumstance constituting Good Reason hereunder. For purposes of any determination regarding the existence of Good Reason, any claim by you that Good Reason exists shall be presumed to be correct unless the
Company establishes in a legal proceeding by clear and convincing evidence that Good Reason does not exist. 
 (iv) Notice
of Termination. Any purported termination of your employment by the Company or by you shall be communicated by written Notice of Termination to the other party hereto in accordance with Section 11 hereof. For purposes of this Agreement, a
“Notice of Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for
termination of your employment under the provision so indicated. 
  

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 (v) Date of Termination, Etc. “Date of Termination” shall mean
(A) if your employment is terminated for Disability, thirty (30) days after Notice of Termination is given (provided that you shall not have returned to the full-time performance of your duties during such thirty (30) day period), and
(B) if your employment is terminated pursuant to Subsection 3(ii) or 3(iii) above or for any other reason (other than Disability), the date specified in the Notice of Termination (which, in the case of a termination pursuant to Subsection 3(ii)
above shall not be less than thirty (30) days, and in the case of a termination pursuant to Subsection 3(iii) above shall not be less than fifteen (15) nor more than sixty (60) days, respectively, from the date such Notice of
Termination is given); provided that if within fifteen (15) days after any Notice of Termination is given, or, if later, prior to the Date of Termination (as determined without regard to this proviso), the party receiving such Notice of
Termination notifies the other party that a dispute exists concerning the termination, the Date of Termination shall be the date on which the dispute is finally determined, either by mutual written agreement of the parties, by a binding arbitration
award, or by a final judgment, order or decree of a court of competent jurisdiction (which is not appealable or with respect to which the time for appeal therefrom has expired and no appeal has been perfected) but shall be deemed to be within the
twenty-four (24) month period following a change in control or potential change in control of the Company; provided further that the Date of Termination shall be extended by a notice of dispute only if such notice is given in good faith and the
party giving such notice pursues the resolution of such dispute with reasonable diligence. Notwithstanding the pendency of any such dispute, the Company will continue to pay you your full compensation in effect when the notice giving rise to the
dispute was given (including, but not limited to, base salary) and continue you as a participant in all compensation, benefit and insurance plans and programs in which you were participating when the notice giving rise to the dispute was given,
until the dispute is finally resolved in accordance with this Subsection 3(v). Amounts paid under this Subsection 3(v) are in addition to all other amounts due under this Agreement and shall not be offset against or reduce any other amounts due
under this Agreement. 
 4. Compensation Upon and Following a Change in Control or Potential Change in Control.

 (i) Entitlements Upon a Change in Control. If you are employed by the Company at the time of a change in control of
the Company, you shall be entitled to the following benefits: 
 (A) Stock Option Change in Control Payment. You shall
receive an amount equal to the product of (x) the amount, if any, by which the Change in Control Price, as defined below, exceeds the closing price of a share of 

  

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common stock of RYERSON as reported on the New York Stock Exchange Composite Transactions (or, where RYERSON Shares, as defined below, are no longer listed
on the New York Stock Exchange, the closing price of a share of common stock of RYERSON on such other established securities market on which the common stock of RYERSON is traded) on the last trading date prior to the change in control of the
Company and (y) the number of shares of RYERSON common stock covered by all stock options granted to you under RYERSON’s stock option plans (“Options”) that you hold on the date of the change in control of the Company. The
Compensation Committee shall determine, in its sole discretion, whether the amount provided by this Subsection 4(i)(A) is to be paid to you in cash or in shares of common stock of Ryerson. Where the Compensation Committee determines that you are to
be paid in Ryerson common stock, you shall receive the whole number of shares of Ryerson common stock obtained by dividing the amount provided by this Subsection 4(i)(A) by the closing price of a share of common stock of RYERSON as reported on the
New York Stock Exchange Composite Transactions (or, where RYERSON Shares are no longer listed on the New York Stock Exchange, the closing price of a share of common stock of RYERSON on such other established securities market on which the common
stock of RYERSON is traded) on the last trading date prior to the change in control of the Company (plus cash in lieu of any fractional share). 
 For
purposes of this Agreement, the “Change in Control Price” means: (1) with respect to a merger or consolidation of RYERSON described in Subsection 2(i)(C) in which the consideration per share of RYERSON’s common stock to be paid
for the acquisition of shares of common stock specified in the agreement of merger or consolidation is all in cash, the highest such consideration per share; (2) with respect to a change in control of the Company by reason of an acquisition of
voting securities described in Subsection 2(i)(A), the highest price per share for any share of RYERSON’s common stock paid by any holder of any of the securities representing 20% or more of the combined voting power of RYERSON giving rise to
the change in control of the Company; and (3) with respect to a change in control of the Company by reason of a merger or consolidation of RYERSON (other than a merger or consolidation described in clause (1) above), stockholder approval of an
agreement or plan described in Subsection 2(i)(D) or a change in the composition of the Board described in Subsection 2(i)(B), the average of the closing prices per share of common stock of Ryerson reported on the New York Stock Exchange Composite
Transactions (or, if such shares are not traded on the New York Stock Exchange, such other established securities market on which such shares are traded) for the sixty (60) day period ending on the date immediately prior to the date such change
in control of the Company occurs. 
 (B) Stock Options: Vesting and Rollover or Settlement. Notwithstanding anything
in the Company’s stock option plans or any stock option agreements thereunder to the contrary, all of your Options shall vest, whether or not otherwise exercisable. At your election, the Options shall remain outstanding (unless otherwise
prohibited by the terms of the documents governing the change in control of the Company), or shall be settled in either shares of 

  

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common stock of RYERSON (such shares along with, where applicable, shares of common stock of any successor to RYERSON are referred to herein as “RYERSON
Shares”) or cash, as provided below. The Compensation Committee shall determine, in its sole discretion, whether Options are to be settled in RYERSON Shares or cash. 
 (a) If the Compensation Committee determines to settle your Options in cash, you shall receive: an amount in cash equal to the product of
(i) the excess of (x) the closing price of a RYERSON Share as reported on the New York Stock Exchange Composite Transactions (or, where RYERSON Shares are no longer listed on the New York Stock Exchange, the closing price of a RYERSON
Share reported on such other established securities market on which RYERSON Shares are traded) on the last trading date prior to the change in control of the Company, over (y) the per share exercise price of each Option then held by you
(whether or not then fully exercisable), and (ii) the number of RYERSON Shares covered by your Options; and 
 (b) If
the Compensation Committee determines to settle your Options in RYERSON Shares, you shall receive a whole number of RYERSON Shares equal to: the quotient of (x) the amount of cash determined pursuant to subparagraph (a) above, divided by
(y) the closing price of a RYERSON Share as reported on the New York Stock Exchange Composite Transactions (or, where RYERSON Shares are no longer listed on the New York Stock Exchange, the closing price of a RYERSON Share reported on such
other established securities market on which RYERSON Shares are traded) on the last trading date prior to the change in control of the Company; plus cash in lieu of any fractional share; 
 (C) Restricted Stock. To the extent not otherwise vested in accordance with the terms and conditions of the Incentive Stock Plans,
you shall be fully vested in any restricted shares issued thereunder. 
 (D) Performance Share Awards. Any performance
award that has not been settled prior to or as of the effective date of the change in control of the Company will be cashed out and you will be paid an amount equal to (i) the Change in Control Price, multiplied by (ii) the number of
Performance Share Units based on the greater of 100% of target performance measure attainment and actual performance measure attainment, and further multiplied by (iii) a fraction, the denominator of which is the number of months in the
performance cycle, and the numerator of which is 

  

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the number of whole months (rounded up, if not a multiple of 12, to the number that is the number of months that is the next highest multiple of 12) of the
performance cycle elapsed prior to the date of the change in control of the Company; provided, however, that if the Company’s market capitalization as of the date of the change in control of the Company is less than $250 million, clause
(ii) above shall provide “(ii) the number of performance share units based on 30% of target performance measure attainment, and further multiplied by”. In determining whether target or actual performance measure attainments are
greater, calculations of actual performance measure attainments for any year of the performance cycle that has not yet then concluded, if applicable, shall be determined based on the average actual performance in respect of those full months that
have elapsed during the then-current year of the performance cycle as of the effective date of the change in control of the Company; provided that if the change in control of the Company occurs in the first calendar quarter of a year, the actual
performance measure attainment for such year shall be deemed to be the actual performance measure attainment for the immediately preceding year. Notwithstanding the forgoing, any payments with respect to any performance award that you elected to
defer pursuant to the terms of the 2002 Incentive Stock Plan shall not be accelerated by this Subsection 4(i)(D). 
 (ii)
Termination Other Than For Cause; Termination by You for Good Reason. Subject to the terms and conditions of this Agreement, including without limitation, Sections 6 through 9 hereof, in the event (x) a change in control of the Company
or potential change in control of the Company, each as defined in Section 2 hereof, shall have occurred, and your employment is subsequently terminated during the term of this Agreement by the Company (other than for Cause, Disability, death or
Retirement) or by you for Good Reason or (y) your employment is terminated by the Company (other than for Cause, Disability, death or Retirement) during the term of this Agreement prior to a change in control of the Company or potential change
in control of the Company at the request of any person as part of or in connection with a proposed transaction that could constitute a potential change in control of the Company or a change in control of the Company, provided that in
the case of (y) there occurs either a change in control of the Company or potential change in control of the Company within 12 months following such termination, you shall be entitled to the following benefits: 
 (A) Base Salary. The Company shall pay you your full base salary through the Date of Termination at the rate in effect at the time
Notice of Termination is given, plus all other amounts to which you are entitled under any compensation plan or program of the Company, at the time such payments are due, except as otherwise provided below. 
  

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 (B) Severance. In lieu of any further salary payments to you for periods
subsequent to the Date of Termination, the Company shall pay as severance pay to you an amount equal to two times the sum of (x) your annual base salary in effect immediately prior to the occurrence of the circumstance giving rise to the Notice
of Termination given in respect thereof, and (y) the greater of (I) your target award under the Annual Incentive Plan or similar successor plan for the year in which the Date of Termination occurs, or (II) the average annual amount of the
Award paid to you pursuant to the Annual Incentive Plan or similar successor plan with respect to the five years immediately preceding that in which the Date of Termination occurs, such average annual amount being calculated by aggregating all such
Awards paid with respect to such five years and dividing such aggregate amount by the number of years for which such an Award was actually paid to you. 
 (C) Annual Incentive Plan. Notwithstanding any provision of the Annual Incentive Plan, and solely to the extent not already provided to you under such plan, the Company shall pay to you a lump sum amount under
that plan at least equal to the sum of (x) any incentive compensation under the Annual Incentive Plan which has been allocated or awarded to you for a completed fiscal year or other measuring period preceding the Date of Termination but has not
yet been paid, and (y) a pro rata portion to the Date of Termination for the current fiscal year or other measuring period of the amount equal to the target award percentage applicable to you under the Annual Incentive Plan or similar successor
plan on the Date of Termination times your annual base salary then in effect. 
 (D) Stock Options. 
 (1) Settlement where Date of Termination follows Change in Control. Where your Date of Termination follows a change in control of
the Company, notwithstanding anything in the Company’s stock option plans or any stock option agreements thereunder to the contrary, any Options granted to you subsequent to the change in control of the Company and Options, if any, not settled
at the time of a change in control of the Company, whether or not vested, shall be fully vested, whether or not then exercisable, and shall be settled in either RYERSON Shares or cash as provided below. The Compensation Committee shall
determine, in its sole discretion, whether options are to be settled in RYERSON Shares or cash. 
 (a) If the Compensation
Committee determines to settle your Options in cash, you shall receive an amount in cash equal to the product of (i) the excess of (x) the “Date of Termination Fair Market Value”, as defined below, of a RYERSON Share, over
(y) the per share exercise price of each Option then held by you (whether or not then fully exercisable), and (ii) the number of RYERSON Shares covered by your Options. 
  

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 (b) If the Compensation Committee determines to settle your Options in shares, you shall
receive a whole number of shares equal to the quotient of (x) the amount of cash determined pursuant to paragraph (a) above, divided by (y) the “Date of Termination Fair Market Value”, as defined below, of a RYERSON Share;
and you shall receive cash in lieu of any fractional share. 
 For purposes of this Agreement, “Date of Termination Fair Market Value” shall
mean (i) where RYERSON Shares are traded on the New York Stock Exchange, the closing price of a RYERSON Share as reported on the New York Stock Exchange Composite Transactions on the last trading date preceding the Date of Termination;
(ii) where RYERSON Shares are no longer traded on the New York Stock Exchange but are traded on another established securities market, the closing price of a RYERSON Share on the last trading date preceding the Date of Termination, and
(iii) if RYERSON Shares are no longer traded on any established securities market, a value determined by the Board based on a reasonable application of a “reasonable valuation method” as defined in Treasury Regulations under
Section 409A. 
 (2) Vesting and Settlement where Date of Termination follows Potential Change in Control. Where
your Date of Termination follows a potential change in control of the Company but precedes a change in control of the Company, notwithstanding anything in the Company’s stock option plans or any stock option agreements thereunder to the
contrary, all of your Options, to the extent unvested, shall vest on your Date of Termination and shall be settled in either RYERSON Shares or cash as provided below. The Compensation Committee shall determine, in its sole discretion, whether
options are to be settled in RYERSON Shares or cash. 
 (a) If the Compensation Committee determines to settle your Options
in cash, you shall receive an amount in cash equal to the product of (i) the excess of (x) the Date of Termination Fair Market Value over (y) the per share exercise price of each Option then held by you (whether or not then fully
exercisable), and (ii) the number of RYERSON Shares covered by your Options. 
 (b) If the Compensation Committee
determines to settle your Options in shares, you shall receive a whole number of shares equal to the quotient of (x) the amount of cash determined pursuant to paragraph (a) above, divided by (y) the Date of Termination Fair Market
Value; and you shall receive cash in lieu of any fractional share. 
  

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 (3) Vesting and Settlement in an Acquirer-Motivated Termination where Date of
Termination precedes Change in Control or Potential Change in Control and Change in Control or Potential Change in Control Occurs Within 12 Months. Where you are terminated prior to a change in control or potential change in control of the
Company at the request of any person as part of or in connection with a proposed transaction that could constitute a potential change in control of the Company or a change in control of the Company, Options you hold as of your Date of Termination
shall not expire or lapse except as provided below in this Subsection 4(ii)(D)(3). Any vested Options you hold on the Date of Termination shall remain exercisable for the periods after termination provided by the terms of the Option grants.
Any unvested Options you hold on the Date of Termination shall not be exercisable unless a change in control or potential change in control of the Company follows within 12 months of the Date of Termination. 
 (a) If the first applicable event to occur within 12 months following your Date of Termination is a change in control of the Company,
settlement (or rollover) of vested Options you held on the Date of Termination, to the extent not subsequently exercised, as well as any unvested Options you held on the Date of Termination, shall occur pursuant to Subsections 4(i)(A)
and (B) as if you were employed by the Company at the time of the change in control of the Company. 
 (b) If the first
applicable event to occur within 12 months following your Date of Termination is a potential change in control of the Company, vested Options you held on the Date of Termination, to the extent not subsequently exercised, as well as any
unvested Options you held on the Date of Termination, shall be settled in either RYERSON Shares or cash as provided below. The Compensation Committee shall determine, in its sole discretion, whether options are to be settled in RYERSON Shares
or cash. 
 i. If the Compensation Committee determines to settle your Options in cash, you shall receive an amount in cash
equal to the product of (i) the excess of (x) the closing price of a RYERSON Share as reported on the New York Stock Exchange Composite Transactions (or, where RYERSON Shares 

  

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are no longer listed on the New York Stock Exchange, the closing price of a RYERSON Share reported on such other established securities market on which
RYERSON Shares are traded) on the last trading date preceding the potential change in control over (y) the per share exercise price of each Option then held by you (whether or not then fully exercisable), and (ii) the number of RYERSON
Shares covered by your Options. 
 ii. If the Compensation Committee determines to settle your Options in shares, you shall
receive a whole number of shares equal to the quotient of (x) the amount of cash determined pursuant to paragraph i. above, divided by (y) the closing price of a RYERSON Share as reported on the New York Stock Exchange Composite
Transactions (or, where RYERSON Shares are no longer listed on the New York Stock Exchange, the closing price of a RYERSON Share reported on such other established securities market on which RYERSON Shares are traded) on the last trading date
preceding the potential change in control; and you shall receive cash in lieu of any fractional share. 
 If no change in control or potential change
in control of the Company occurs within the 12-month period following the Date of Termination, your Options shall expire according to the terms of the Option grants. 
 (E) Restricted Stock. 
 (1) Where your Date of Termination follows a change in control or potential change in control of the Company, to the extent not otherwise vested in accordance with the terms and conditions of the Incentive Stock
Plans, you shall be fully vested in any restricted shares issued thereunder. 
 (2) In an acquirer-motivated termination,
where you are terminated prior to a change in control or potential change in control of the Company at the request of any person as part of or in connection with a proposed transaction that could constitute a potential change in control of the
Company or a change in control of the Company, and a change in control or potential change in control of the Company follows within 12 months of your Date of Termination (such period between the Date of Termination and the change in control or
potential change in control of the Company hereinafter referred to as the “interim period”), to the extent you held 

  

 14 

 
unvested, restricted shares on your Date of Termination, such shares shall remain outstanding but restricted and unvested during the interim period, and at
the time of the subsequent change in control or potential change in control of the Company, shall vest; if no change in control or potential change in control of the Company follows within 12 months of your Date of Termination, restricted shares you
held on your Date of Termination shall be cancelled. 
 (F) Performance Share Awards. 
 (1) Payment where Date of Termination follows Change in Control. Where your Date of Termination follows a change in control of the
Company, with respect to any performance share award granted under the Incentive Stock Plans that was outstanding on your Date of Termination, any performance award that was not settled prior to or as of the effective date of the Change in Control
of the Company will be cashed out, and you will be paid an amount equal to (i) Date of Termination Fair Market Value, multiplied by (ii) the number of Performance Share Units based on the greater of 100% of target performance measure
attainment and actual performance measure attainment, and further multiplied by (iii) a fraction, the denominator of which is the number of months in the performance cycle, and the numerator of which is the number of whole months (rounded up,
if not a multiple of 12, to the number that is the number of months that is the next highest multiple of 12) of the performance cycle elapsed prior to the Date of Termination; provided, however, that if the Company’s market capitalization as of
the date of the change in control of the Company is less than $250 million, clause (ii) above shall provide “(ii) the number of performance share units based on 30% of target performance measure attainment, and further multiplied by”.
In determining whether target or actual performance measure attainments are greater, calculations of actual performance measure attainments for any year of the performance cycle that has not yet then concluded, if applicable, shall be determined
based on the average actual performance in respect of those full months that have elapsed during the then-current year of the performance cycle as of the Date of Termination; provided that if the Date of Termination occurs in the first calendar
quarter of a year, the actual performance measure attainment for such year shall be deemed to be the actual performance measure attainment for the immediately preceding year. Notwithstanding the forgoing, any payments with respect to any performance
award that you elected to defer pursuant to the terms of the 2002 Incentive Stock Plan shall not be accelerated by this Subsection 4(ii)(F)(1). 
  

 15 

 (2) Settlement where Date of Termination follows Potential Change in Control.
Where your Date of Termination follows a potential change in control of the Company but precedes a change in control of the Company, with respect to each performance share award granted under the Incentive Stock Plans that was outstanding on your
Date of Termination, you shall receive: 
 (a) an amount in cash equal to (i) the Date of Termination Fair Market Value,
multiplied by (ii) the number of performance share units based on the greater of 100% of target performance measure attainment and actual performance measure attainment, and further multiplied by (iii) a fraction, the denominator of which
is the number of months in the performance cycle and the numerator of which is the number of whole months (rounded up, if not a multiple of 12, to the number that is the number of months that is the next highest multiple of 12) of the performance
cycle elapsed prior to the date of the Date of Termination; provided, however, that if the Company’s market capitalization as of the date of the change in control is less than $250 million, clause (ii) above shall be “(ii) the number
of performance share units based on 30% of target performance measure attainment, and further multiplied by”; in determining whether target or actual performance measure attainments are greater, calculations of actual performance measure
attainments for any year of the performance cycle that has not yet then concluded, if applicable, shall be determined based on the average actual performance in respect of those full months that have elapsed during the then-current year of the
performance cycle as of the Date of Termination; provided that if the Date of Termination occurs in the first calendar quarter of a year, the actual performance measure attainment for such year shall be deemed to be the actual performance measure
attainment for the immediately preceding year; and 
 (b) if, during the term of this Agreement, a change in control of the
Company occurs, an additional amount (payable in cash) equal to the amount by which the amount determined under subparagraph (a) above based on the Date of Termination Fair Market Value is less than the amount determined under
subparagraph (a) based on the Change of Control Price. 
  

 16 

 Notwithstanding the forgoing, any payments with respect to any performance award that you elected to defer pursuant to
the terms of the 2002 Incentive Stock Plan shall not be accelerated by this Subsection 4(ii)(F)(2). 
 (3) Settlement in
an Acquirer-Motivated Transaction where Date of Termination precedes Change in Control or Potential Change in Control and Change in Control or Potential Change in Control Occurs Within 12 Months. Where you are terminated prior to a change in
control or potential change in control of the Company at the request of any person as part of or in connection with a proposed transaction that could constitute a potential change in control of the Company or a change in control of the Company, and
a change in control or potential change in control of the Company follows within 12 months of your Date of Termination: 
 (a) if the first applicable event to occur within 12 months following your Date of Termination is a change in control of the Company, you shall be entitled to receive: (x) with respect to performance share units issued for any
performance period that ended prior to the Date of Termination, the payments provided pursuant to the terms of the Incentive Stock Plans; and (y) with respect to performance share units issuable for performance periods that did not end prior to
the Date of Termination, i.e., performance share units that would be prorated under the terms of the Incentive Stock Plans, a payment equal to (i) the Change in Control Price, multiplied by (ii) the number of performance share units based
on the greater of 100% of target performance measure attainment and actual performance measure attainment at the Date of Termination, and further multiplied by (iii) a fraction, the denominator of which is the number of months in the
performance cycle and the numerator of which is the number of whole months (rounded up, if not a multiple of 12, to the number that is the number of months that is the next highest multiple of 12) of the performance cycle elapsed prior to the date
of the Date of Termination; provided, however, that if the Company’s market capitalization as of the date of the change in control is less than $250 million, clause (ii) above shall be “(ii) the number of performance share units based
on 30% of target performance measure attainment, and further multiplied by”. In determining whether target or actual performance measure attainments are greater, calculations of actual performance measure attainments for any year of the
performance cycle that has not yet then concluded, if applicable, shall be determined based on the 

  

 17 

 
average actual performance in respect of those full months that have elapsed during the then-current year of the performance cycle as of the Date of
Termination; provided that if the Date of Termination occurs in the first calendar quarter of a year, the actual performance measure attainment for such year shall be deemed to be the actual performance measure attainment for the immediately
preceding year. 
 (b) if the first applicable event to occur within 12 months following your Date of Termination is a
potential change in control of the Company, you shall be entitled to receive: (x) with respect to performance share units issued for any performance period that ended prior to the Date of Termination, the payments provided pursuant to the terms
of the Incentive Stock Plans; and (y) with respect to performance share units issuable for performance periods that did not end prior to the Date of Termination, i.e., performance share units that would be prorated under the terms of the
Incentive Stock Plans, payment equal to (i) the Date of Termination Fair Market Value, multiplied by (ii) the number of performance share units based on the greater of 100% of target performance measure attainment and actual performance
measure attainment at the Date of Termination, and further multiplied by (iii) a fraction, the denominator of which is the number of months in the performance cycle and the numerator of which is the number of whole months (rounded up, if not a
multiple of 12, to the number that is the number of months that is the next highest multiple of 12) of the performance cycle elapsed prior to the Date of Termination; provided, however, that if the Company’s market capitalization as of the date
of the change in control is less than $250 million, clause (ii) above shall be “(ii) the number of performance share units based on 30% of target performance measure attainment, and further multiplied by”. In determining whether
target or actual performance measure attainments are greater, calculations of actual performance measure attainments for any year of the performance cycle that has not yet then concluded, if applicable, shall be determined based on the average
actual performance in respect of those full months that have elapsed during the then-current year of the performance cycle as of the Date of Termination; provided that if the Date of Termination occurs in the first calendar quarter of a year, the
actual performance measure attainment for such year shall be deemed to be the actual performance measure attainment for the immediately preceding year. 
  

 18 

 (c) if the first applicable event to occur within 12 months following your Date of
Termination is a potential change in control of the Company and within 12 months of your Date of Termination there is an actual change in control of the Company, then you shall be entitled to an additional amount (payable in cash) equal to the
amount by which the amount determined under subparagraph (b) above based on the Date of Termination Fair Market Value is less than the amount determined under subparagraph (a) above based on the Change of Control Price. 

Notwithstanding the forgoing, any payments with respect to any performance award that you elected to defer pursuant to the terms of the 2002 Incentive Stock Plan
shall not be accelerated by this Subsection 4(ii)(F)(3). 
 (G) Welfare Benefits, Financial Advisory Services, and
Outplacement Services. If your Date of Termination follows a change in control or potential change in control of the Company, then you shall be entitled to the benefits listed under this paragraph (H) for a period of twenty-four
(24) months commencing on your Date of Termination. If your Date of Termination precedes a change in control or potential change in control of the Company and a change in control or potential change in control of the Company follows within 12
months, then you shall be entitled to the benefits listed under this paragraph (G) for a period of twenty-four (24) months commencing on the first to occur of a change in control or potential change in control of the Company succeeding
your Date of Termination. The benefits to which you shall be entitled in either case are as follows: 
 (1) life insurance
and long-term disability, medical and dental benefits substantially similar to those which you were receiving immediately prior to the Notice of Termination; 
 (2) financial advisory services similar to those provided currently to executives of the Company, if any; and 
 (3) outplacement services, including office services, appropriate to your management level. 
 Benefits otherwise receivable by you pursuant to this Subsection 4(ii)(G) shall be reduced to the extent comparable benefits are actually received by you during the
applicable twenty-four (24) month period, and any such benefits actually received by you during such applicable twenty-four (24) month period shall be reported to the Company. Any rights that you have to continuation of life, disability,
accident or health coverage under this Agreement shall be credited toward, and shall not be in addition to, any rights to continuation of life, disability or health coverage you may have under applicable state or federal law. To retain eligibility
under Subsection 4(ii)(G)(1) you must pay premiums equivalent to the amounts required of active employee participants. Any reimbursements of costs incurred by you for the benefits provided by this Subsection 4(ii)(G) shall be made to you promptly
but in any event by the end of your taxable year following the year in which you incurred such costs. 
  

 19 

 (H) Additional Pension Plan and Supplemental Plan Amounts. In addition to the
retirement benefits to which you are entitled under the Pension Plan and Supplemental Plan or any successor plans thereto, if you are terminated following a change in control or potential change in control of the Company, or if you are terminated
prior to a change in control of the Company or potential change in control of the Company at the request of any person as part of or in connection with a proposed transaction that could constitute a potential change in control of the Company or a
change in control of the Company and a change in control or potential change in control of the Company subsequently occurs within 12 months of your Date of Termination, the Company shall pay you in cash, a lump sum equal to the excess of
(x) the actuarial equivalent of the retirement pension (taking into account any early retirement subsidy associated therewith and determined as a straight life annuity commencing at age sixty-five (65) or any earlier date, but in no event
earlier than the second anniversary of the Date of Termination whichever annuity yields a greater benefit) which you would have accrued under the terms of the Pension Plan and Supplemental Plan (without regard to any amendments to any such plans
made subsequent to a change in control or potential change in control of the Company, as the case may be, and on or prior to the Date of Termination, which amendment adversely affects in any manner the computation of retirement benefits thereunder),
determined as if you were fully vested thereunder and had accumulated (after the Date of Termination) twenty-four (24) additional months of age and service credit thereunder at the higher of the rate of average compensation during the twelve
(12) months prior to the change in control or potential change in control of the Company or the rate of average compensation used to calculate your benefits under such plans immediately preceding the Date of Termination (and in any event at the
rate of average compensation used to calculate your benefits under such plans immediately preceding the Date of Termination if such date precedes the potential change in control or date of the change in control of the Company, as the case may be),
over (y) the actuarial equivalent of the retirement pension (taking into account any early retirement subsidy associated therewith and determined as a straight life annuity commencing at age sixty-five (65) or any earlier date, but in no
event earlier than the Date of Termination whichever annuity yields a greater benefit) which you had then accrued pursuant to the provisions of the Pension Plan and the Supplemental Plan. For purposes of this Subsection 4(ii), “actuarial
equivalent” shall be determined using the same assumptions utilized under the Pension Plan for purposes of determining alternative forms of benefits immediately prior to the change in control of the Company (or, if earlier, immediately prior to
the Date of Termination). 

  

 20 

 
In addition, determination of your post-retirement health and life insurance benefits will be calculated as if you were credited with twenty-four
(24) additional months of age and service credit for purposes of determining eligibility for and the value of such benefits under the applicable post-retirement health and life insurance plans. 
 (iii) Incapacity due to Physical or Mental Illness. Following a change in control of the Company or a potential change in control
of the Company, during any period that you fail to perform your full-time duties with the Company as a result of incapacity due to physical or mental illness, you shall continue to receive your base salary at the rate in effect at the commencement
of any such period, together with all compensation payable to you under the Pension Plan, Supplemental Plan, Annual Incentive Plan, Savings Plan and Nonqualified Savings Plan during such period, until you are terminated for Disability or Retirement
as defined in Subsection 3(i). Thereafter, in the event your employment shall be terminated, your benefits shall be determined under the Company’s retirement, insurance and other compensation plans and programs then in effect in accordance with
the terms of such plans and programs, and the Company shall have no further obligations to you under this Agreement. 
 (iv)
Legal Fees. Commencing with the month in which there occurs any potential change in control of the Company (or, if earlier, a change in control of the Company), at the end of each month the Company shall pay to you an amount equal to all
legal fees and expenses incurred by you during the preceding month as a result of your termination (including all such fees and expenses, if any, incurred in contesting or disputing any such termination or in seeking to obtain or enforce any right
or benefit provided by this Agreement or in connection with any tax audit or proceeding to the extent attributable to the application of Sections 409A or 4999 of the Internal Revenue Code of 1986, as amended (the “Code”) to any payment or
benefit provided hereunder or provided under any other agreement, plan, program or arrangement with the Company). Such payments shall be made within five (5) days (or, if later, the earliest date permitted under Section 409A) after your
request for payment accompanied with such evidence of fees and expenses incurred as the Company reasonably may require. You shall be entitled to select your legal counsel, and your rights to payment pursuant to this Subsection 4(iv) shall not be
affected by the final outcome of any dispute with the Company. 
 (v) Termination for Cause, Disability, Death or
Retirement. Following a change in control of the Company or a potential change in control of the Company, if your employment shall be terminated by the Company for Cause, Disability, death or Retirement, or by you other than for Good Reason, the
Company shall pay you your full base salary through the Date of Termination at the rate in effect at the time Notice of Termination is given, plus all other amounts to which you are entitled under any compensation plan of the Company at the time
such payments are due, and the Company shall have no further obligations to you under this Agreement. 
  

 21 

 (vi) No Mitigation. You shall not be required to mitigate the amount of any
payment provided for in this Section 4 by seeking other employment or otherwise, nor, except as expressly provided in Subsection 4(ii)(H), shall the amount of any payment or benefit provided for in this Section 4 be reduced by any
compensation earned by you as the result of employment by another employer, by retirement benefits, by offset against any amount claimed to be owed by you to the Company, or otherwise. 
 (vii) No Diminution of Benefits Under Other Plans; No Duplication of Benefits. In addition to all other amounts payable to you
under this Section 4, you shall be entitled to receive all benefits payable to you under the Pension Plan, the Savings Plan, the Supplemental Plan, the Nonqualified Savings Plan, the Annual Incentive Plan, the Incentive Stock Plan and any other
plan, agreement, program or arrangement relating to retirement benefits, incentive compensation or welfare benefits (but you shall not be entitled to any severance benefits provided under the Severance Plan); provided, however, that nothing in this
Section 4 shall entitle you to any duplication of any payment, benefit or acceleration thereof otherwise available under any such plan, agreement, program or arrangement. 
 (viii) Time of Payment. All cash payments to which you become entitled under the terms of this Agreement shall be paid to you in a
lump sum within five days following the occurrence of the event, i.e., change in control of the Company, potential change in control of the Company, or termination, that triggers your rights to such payment. Any termination shall be deemed to have
occurred on the Date of Termination. If the amounts of such payments cannot be finally determined on or before the date payments are to be made, then on the payment date the Company shall pay to you an estimate, as determined in good faith by the
Company, of the minimum amount of such payments and shall pay the remainder of such payments (together with interest at a rate equal to 120 percent of the applicable Federal rate determined under Section 1274(d) of the Code, compounded
semi-annually) as soon as the amount thereof can be determined but in no event later than the thirtieth day after the Date of Termination. In the event that the amount of the estimated payments exceeds the amount subsequently determined to have been
due, you shall promptly repay to the Company the amount of such excess (together with interest at a rate equal to 120 percent of the applicable Federal rate determined under Section 1274(d) of the Code, compounded semi-annually). 
 (ix) 409A. 
 (A) Interpretation of and Modifications to Agreement to Avoid Additional Section 409A Tax. The provisions of this Agreement shall be interpreted in a manner to the maximum extent possible to comply in good faith with
Section 409A. To the extent you would be subject to the additional tax imposed on certain deferred compensation arrangements pursuant to Section 409A of the Code as a result of any provision of this Agreement, you agree to 

  

 22 

 
cooperate with the Company to execute any amendment to the provisions hereof reasonably necessary to avoid the imposition of such tax but only (i) to
the minimum extent necessary to avoid application of such tax and (ii) to the extent that you would not, as a result, suffer any reduction in the amounts otherwise payable to you under this Agreement. 
 (B) Six Month Delay in Certain Payments to Specified Employees. To the extent you otherwise would be entitled under this Agreement
to a payment or benefit during the six months beginning on the Date of Termination that would be subject to the additional tax imposed under Section 409A (because of your status as “specified employee” within the meaning of
Section 409A on your Date of Termination) such payment or benefit shall be made or provided to you as soon as administratively practicable after (but in no event more than five (5) days after) the earliest date that will not result in the
imposition of any tax under Section 409A. 
 (C) Gross-Up for Additional Taxes Imposed Under Section 409A.
In the event you are subject to additional taxes imposed by Section 409A with respect to any payments or benefits due to you under this Agreement, the Company will pay you an additional amount such that the net amount retained by you, after
deduction of any additional taxes imposed under 409A on such payments or benefits and any federal, state and local income and other payroll taxes and additional taxes imposed under Section 409A upon the payment provided for by this Subsection
4(viii)(C), shall be equal to the payments or benefits under this Agreement. Notwithstanding the foregoing, you shall not be entitled to any additional amounts pursuant to this Subsection 4(viii)(C) if and to the extent that the imposition of
additional taxes under Section 409A is the direct or indirect result of your breach of any provision of this Agreement, including any failure to cooperate with the Company to amend this Agreement pursuant to Subsection 4(viii)(A) above.

 5. Gross Up for Parachute Payment Excise Tax. This Section 5 applies in the event that (i) you become
entitled to any payments or benefits under this Agreement (the “Contract Payments”) or under any other agreement, plan, program or arrangement with the Company or any person whose actions result in a change in control or any person
affiliated with the Company or such person (together with the Contract Payments, the “Total Payments”), and (ii) the aggregate present value of such payments (calculated in accordance with Section 280G of the Code) exceeds by
fifteen percent or more the threshold amount at which you become subject to the tax (the “Excise Tax”) imposed by Section 4999 of the Code, i.e., such present value exceeds by fifteen percent or more an amount equal to three times
your “base amount” determined under Section 280G of the Code. In that case, the Company shall pay to you, no later than the fifth day following the event triggering the Excise Tax (or, if you are a specified employee within the
meaning of Section 409A on such date, the earliest date that payment can be made to you in accordance with Section 409A), an additional amount (the “Gross-Up Payment”) such that the net amount retained by 

  

 23 

 
you, after deduction of any Excise Tax on the Contract Payments and such other Total Payments and any federal and state and local income and other payroll
taxes and Excise Tax upon the payment provided for by this Section 5, shall be equal to the Contract Payments and such other Total Payments. 
 For purposes of determining whether any of the payments will be subject to the Excise Tax, the amount of such Excise Tax, whether you are entitled to a Gross-Up Payment in accordance with this Section 5, and whether your Total Payments
will be reduced pursuant to Section 6 below and the amount of such reduction, (i) any other payments or benefits received or to be received by you in connection with a change in control of the Company or your termination of employment
(whether pursuant to the terms of this Agreement or any other plan, arrangement or agreement with the Company, any person whose actions result in a change in control or any person affiliated with the Company or such person) payable pursuant to the
terms of this Agreement or any other plan, arrangement or agreement with the Company, any person whose actions result in a change in control or any person affiliated with the Company or such person (together with the Contract Payments, the
“Total Payments”), shall be treated as “parachute payments” within the meaning of Section 280G(b)(2) of the Code and all “excess parachute payments” within the meaning of Section 280G(b)(l) of the Code shall
be treated as subject to the Excise Tax unless in the opinion of tax counsel selected by RYERSON’s independent auditors and reasonably acceptable to you, it is more likely than not that such other payments or benefits (in whole or in part) do
not constitute parachute payments, including by reason of Section 280G(b)(4)(A) of the Code or such excess parachute payments (in whole or in part) represent reasonable compensation for services actually rendered within the meaning of
Section 280G(b)(4)(B) of the Code in excess of the base amount allocable to such reasonable compensation within the meaning of Section 280G(b)(3) of the Code, or are otherwise not subject to the Excise Tax, (ii) the amount of the
Total Payments which shall be treated as subject to the Excise Tax shall be equal to the lesser of (A) the amount of the Total Payments or (B) the amount of excess parachute payments within the meaning of Section 280G(b)(l) of the
Code (after applying clause (i) above), and (iii) the value of any noncash benefits or any deferred payment or benefit shall be determined by RYERSON’s independent auditors in accordance with the principles of Sections 280G(d)(3) and
(4) of the Code. For purposes of determining the amount of the Gross-Up Payment, you shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation in the calendar year in which the Gross-Up Payment is to be
made and state and local income taxes at the highest marginal rate of taxation in the state and locality of your residence on the Date of Termination, net of the maximum reduction in federal income taxes which could be obtained from deduction of
such state and local taxes. 
 In the event that the Excise Tax is subsequently determined to be less than the amount taken into account
hereunder at the time of termination of your employment, you shall repay to the Company at the time that the amount of such reduction in Excise Tax is finally determined the portion of the Gross-Up Payment attributable to such reduction (plus the
portion of the Gross-Up Payment attributable to the Excise Tax and federal and state and local income tax imposed on the Gross-Up Payment being 
  

 24 

 repaid by you if such repayment results in a reduction in Excise Tax and/or a federal and state and local
income tax deduction) plus interest on the amount of such repayment at a rate equal to 120 percent of the applicable Federal rate determined under Section 1274(d) of the Code, compounded semi-annually. In the event that the Excise Tax is
determined to exceed the amount taken into account hereunder at the time of the termination of your employment (including by reason of any payment the existence or amount of which cannot be determined at the time of the Gross-Up Payment), the
Company shall make an additional gross-up payment in respect of such excess (plus any interest payable with respect to such excess) at the time that the amount of such excess is finally determined. 
 The Gross-Up payment provided by this Section 5 shall be paid to you promptly upon determination but in any event by the end of your taxable year
following the year in which you were required to pay the Excise Tax. 
 6. Reduction in Contract Payments Where Contract
Payments Exceed the Threshold Amount by Less Than 15%. In the event that you become entitled to any payments or benefits under this Agreement, but you are not entitled to a Gross-Up Payment under Section 5, above, the amount of payments and
benefits to which you are entitled under this Agreement shall be reduced by the minimum amount necessary such that no part of your Total Payments (after such reduction) constitutes an excess parachute payment within the meaning of
Section 280G(b)(i) of the Code. You will be entitled to elect by written notice to the Company which payments or benefits are to be reduced; provided, however, that if you do not make such an election within ten days after receiving from the
Company a written summary prepared by its independent auditors of the value of the payments and benefits for purposes of Section 280G of the Code, the reduction shall be made first from the amounts payable to you as severance and, then, as the
Company may determine in its discretion, from the amounts payable to you on account of the Annual Incentive Plan, Options, and the Incentive Stock Plans. In the event that the amount of the reduction calculated under this Section 6 is
subsequently determined to be too little to avoid an excess parachute payment or is greater than required to avoid an excess parachute payment, you shall promptly repay to the Company (if too little) or receive from the Company (if too great) an
amount equal to the difference together with interest at a rate equal to 120 percent of the applicable Federal rate determined under Section 1274(d) of the Code, compounded semi-annually. 
 7. Confidentiality and Ownership. You acknowledge and agree that the Confidential Information (as defined in paragraph
(A) below) is the property of the Company. Accordingly, except as may be required by applicable law or the lawful order of a court or regulatory body, or except to the extent that you have express authorization from the Company to do otherwise,
you will: 
 (A) Confidential Information. Keep secret and confidential indefinitely all Confidential Information and
not disclose such Confidential Information, either directly or indirectly, to any other person, firm or business entity, or to use it in any way. For purposes of this Agreement, “Confidential Information” means all non-public information,

  

 25 

 
observations or data relating to the Company which you have learned during your employment with the Company, whether or not a trade secret within the meaning
of applicable law, including but not limited to: (i) new products and new product development; (ii) marketing strategies and plans, market experience with products, and market research; (iii) manufacturing processes, technologies and
production plans and methods; (iv) formulas, research in progress and unpublished manuals or know how devices, methods, techniques, processes and inventions; (v) regulatory filings and communications; (vi) identity of and relationship
with licensees, licensers or suppliers; (vi) finances, financial information, and financial management systems; (vii) technological and engineering data; (viii) identities of and information concerning customers, vendors and suppliers
and prospective customers, vendors and suppliers; (ix) development, expansion and business strategies, plans and techniques; (x) computer programs; (xi) research and development activities; (xii) litigation and pending
litigation; and (xiii) any other information or documents which you are told or reasonably ought to know the Company regards as proprietary or confidential. 
 (B) On your Date of Termination or at the Company’s earlier request, you will promptly return to the Company any and all records,
documents, data, memoranda, reports, physical property, information, computer disks, tapes or software or other materials, and all copies thereof, relating to the business of the Company obtained by you during your employment with the Company. You
further agree to deliver to the Company, at its request, any computer in your possession or control which has contained any Confidential Information for the purpose of ensuring that all Confidential Information stored on the computer has been
delivered to the Company. 
 (C) You agree that all inventions, innovations, discoveries, improvements, developments, trade
secrets, processes, procedures, methods, designs, analyses, drawings, reports, and all similar or related information which relates to the Company’s actual or anticipated business, research and development or existing or future products or
services and which are conceived, developed or made by you while employed by the Company (“Work Product”) belong to the Company. You shall promptly inform the Company of such Work Product, and shall execute such assignments as may be
necessary to transfer to the Company the benefits of the Work Product, in whole or in part, or conceived by you either alone or with others, which result from any work which you may do for or at the request of the Company, whether or not conceived
by you while on holiday, on vacation, or off the premises of the Company, including such of the foregoing items conceived during the course of employment which are developed or perfected after your Date of Termination. You shall assist the Company
or its nominee, to obtain patents, trademarks and service marks and agree to execute all documents and to take all other actions which are necessary or appropriate to 

  

 26 

 
secure to the Company the benefits thereof. Such patents, trademarks and service marks shall become the property of the Company. You shall deliver to the
Company all sketches, drawings, models, figures, plans, outlines, descriptions or other information with respect thereto. 
 (D) To the extent that any court or agency seeks to have you disclose Confidential Information, you shall promptly inform the Company, and you shall take such reasonable steps to prevent disclosure of Confidential Information until the
Company has been informed of such requested disclosure. To the extent that you obtain information on behalf of the Company that may be subject to attorney-client privilege as to the Company’s attorneys, you shall take reasonable steps to
maintain the confidentiality of such information and to preserve such privilege. 
 (E) Nothing in the foregoing provisions
of this Section 7 shall be construed so as to prevent you from using, in connection with your employment for yourself or an employer other than the Company, knowledge which was acquired by you during the course of your employment with the
Company, and which is generally known to persons of your experience in other companies in the same industry other than through your acts or omission to act. 
 8. Noncompetition/Nonsolicitation. You acknowledge that the industry in which the Company is engaged is a highly competitive
business, and that you are a key executive of the Company. You further acknowledge that as a result of your senior position within the Company, you have acquired and will acquire extensive Confidential Information and knowledge of the Company’s
business and the industry in which it operates and will develop relationships with and knowledge of customers, employees, vendors and suppliers of the Company and affiliates. Accordingly, you agree that during the time you are employed by the
Company (the “Employment Period”) and for a period of twenty-four (24) months after your Date of Termination, you agree as follows: 
 (A) You will not directly or indirectly, own, operate, manage, control, participate or have any financial interest in, consult with, advise, engage in services for (whether for yourself or for any other person and
whether as proprietor, principal, stockholder, partner, agent, director, officer, employee, consultant, independent contractor or in any other capacity), any Competitor of the Company, or in any manner engage in the start-up of a business (including
by yourself or in association with any person, firm, corporate or other business organization through any other entity) in Competition with the Company, provided that, this shall not prevent you from ownership of 1% or less of the outstanding stock
of any corporation listed on the New York or American Stock Exchange or included in the National Association of Securities Dealers Automated Quotation System or ownership of securities in any entity affiliated with the Company.
“Competitor” or “in Competition” refers to a person or entity, including metals-related internet marketplaces, engaged in the metal service center processing and/or distribution business. 
  

 27 

 (B) You will not directly or indirectly contact, call upon, solicit business from, sell
or render services to, any customer of the Company with respect to the provision of services identical to or similar to any service provided by the Company during the Employment Period or in the process of being provided as of your Date of
Termination, for which you had any responsibility or about which you had any Confidential Information during the Employment Period. 
 (C) You will not directly or indirectly either alone or in cooperation with others, encourage any employees of the Company to seek or accept an employment or business relationship with a person or entity other than the Company, or in any
way interfere with the relationship of the Company and any subsidiary or affiliate and any employee thereof, including without limitation, to hire, solicit for hire, or discuss or encourage the employment of, any of the employees of the Company who
were employed by the Company during the Employment Period; provided however, this shall not apply to an employee whose employment was terminated by the Company before your Date of Termination, if such termination was not caused by any direct or
indirect involvement of you or your subsequent employer. 
 (D) You will not directly or indirectly either alone or in
cooperation with others, encourage any supplier, distributor, franchisee, licensee, or other business relation of the Company, cease or curtail doing business with the Company, or in any way interfere with the relationship between any such customer,
supplier, distributor, franchisee, licensee or business relation and the Company. 
 9. Reasonableness of Restrictions,
Injunctive Relief and Remedies. 
 (A) You acknowledge that your rights to compete and disclose Confidential Information
and trade secrets are limited hereby only to the extent necessary to protect the Company and that, in the event that your employment with the Company terminates for any reason, you will be able to earn a livelihood without violating the foregoing
restrictions. You acknowledge that the restrictions cited herein are reasonable and necessary for the protection of the Company’s legitimate business interests. 
 (B) You acknowledge that the services to be rendered by you are of a special, unique and extraordinary character and, in connection with
such services, you will have access to confidential information vital to the Company’s businesses. By reason of this, you consent and agree that if you violate any of the provisions of Section 7 or 8 above, the Company would sustain
irreparable harm and, therefore, in addition to any other remedies which 

  

 28 

 
the Company may have under this Agreement or otherwise, you shall immediately forfeit all remaining payments and benefits to which you are entitled under
this Agreement and the Company shall be entitled to an injunction from any court of competent jurisdiction restraining you from committing or continuing any such violation of this Agreement, including, without limitation, restraining you from
disclosing, using for any purpose, selling, transferring or otherwise disposing of, in whole or in part, any trade secrets, Confidential Information, proprietary information, client or customer lists or other information pertaining to the financial
condition, business, manner of operation, affairs, plans or prospects of the Company. You acknowledge that damages at law would not be an adequate remedy for violation of Section 7 or 8, and you therefore agree that the provisions may be
specifically enforced against you in any court of competent jurisdiction. Nothing contained herein shall be construed as prohibiting the Company from pursuing any other remedies available to it for such breach or threatened breach, including the
recovery of damages. 
 10. Successors; Binding Agreement. 
 (i) RYERSON will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of RYERSON to expressly assume and agree to perform this Agreement in the same manner and to the same extent that RYERSON or the Company would be required to perform it if no such succession had taken
place. Failure of RYERSON to obtain such assumption and agreement prior to the effectiveness of any such succession shall be a breach of this Agreement and shall entitle you to compensation from the Company in the same amount and on the same terms
as you would be entitled to hereunder if you terminate your employment for Good Reason following a change in control of the Company, except that for purposes of implementing the foregoing, the date on which any such succession becomes effective
shall be deemed the Date of Termination. In the event a successor of RYERSON assumes and agrees to perform this Agreement, by operation of law or otherwise, the term “RYERSON”, as used in this Agreement, shall mean such successor and the
term “Company” shall mean, collectively, such successor and the affiliates of such successor. 
 (ii) This Agreement
shall inure to the benefit of and be enforceable by your personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If you should die while any amount would still be payable to you hereunder
if you had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to your devisee, legatee or other designee or, if there is no such designee, to your estate. 

 

 29 

 11. Notice. For the purpose of this Agreement, notices and all other
communications provided for in the Agreement shall be in writing and shall be deemed to have been duly given when delivered or mailed by United States registered mail, return receipt requested, postage prepaid, addressed to the respective addresses
set forth on the first page of this Agreement, provided that all notice to the Company shall be directed to the attention of the Board with a copy to the Secretary of RYERSON, or to such other address as either party may have furnished to the other
in writing in accordance herewith, except that notice of change of address shall be effective only upon receipt. 
 12.
Miscellaneous. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by you and such officer as may be specifically designated by the Board. No
waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions
or conditions at the same or at any prior or subsequent time. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not expressly set forth in this
Agreement. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Illinois. All references to sections of the Exchange Act or the Code shall be deemed also to refer to any successor
provisions to such sections. Any payments provided for hereunder, whether in cash or in kind, shall be paid net of any applicable withholding required under federal, state or local law. The obligations of RYERSON and the Company under this Agreement
shall survive the expiration of the term of this Agreement. 
 13. Validity. The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. 
 14. Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all
of which together will constitute one and the same instrument. 
 15. Settlement of Disputes; Arbitration. All claims
by you for benefits under this Agreement shall be directed to and determined by the Board and shall be in writing. Any denial by the Board of a claim for benefits under this Agreement shall be delivered to you in writing and shall set forth the
specific reasons for the denial and the specific provisions of this Agreement relied upon. The Board shall afford a reasonable opportunity to you for a review of the decision denying a claim and shall further allow you to appeal to the Board a
decision of the Board within sixty (60) days after notification by the Board that your claim has been denied. Except as provided in Section 9 above, any further dispute or controversy arising under or in connection with this Agreement
shall be settled exclusively by arbitration in Chicago, Illinois, in accordance with the rules of the American Arbitration Association then in effect, provided, however, that the evidentiary standards set forth in this Agreement shall apply.
Judgment may be entered on the arbitrator’s award in any court having jurisdiction; provided, however, that you shall be entitled to seek specific performance of your right to be paid until the Date of Termination during the pendency of any
dispute or controversy arising under or in connection with this Agreement. 
  

 30 

 If this letter sets forth our agreement on the subject matter hereof, kindly sign and return to RYERSON
the enclosed copy of this letter which will then constitute our agreement on this subject. 
  

			
	 Sincerely,

	
	 RYERSON INC.

		
	 By
	 	  

	 Vice President - Human Resources

 Agreed to this      day of
                    , 2007 
  

	
	  

	(Signature)

  

 31Indenture dated March 13, 2007

 Exhibit 4.4 
 EXECUTION COPY 
  
  
  

  
 CYPRESS SEMICONDUCTOR CORPORATION, 
 AS ISSUER 
 AND 
 U.S. BANK NATIONAL ASSOCIATION,

 AS TRUSTEE 
 1.00% CONVERTIBLE
SENIOR NOTES DUE SEPTEMBER 15, 2009 
 INDENTURE 
 DATED AS OF MARCH 13, 2007 
  
  
  

 CROSS-REFERENCE TABLE* 
  

					
	 TIA Indenture Section
	 	Section
		
	 Section 310(a)(1)
	 	12.09
		 	 (a)(2)
	 	12.09
		 	 (a)(3)
	 	N.A.**
		 	 (a)(4)
	 	N.A.
		 	 (a)(5)
	 	12.09
		 	 (b)
	 	12.09; 12.09
		 	 (c)
	 	N.A.
	 Section 311(a)
	 	12.13
		 	 (b)
	 	12.13
		 	 (c)
	 	N.A.
	 Section 312(a)
	 	2.05
		 	 (b)
	 	16.03
		 	 (c)
	 	16.03
	 Section 313(a)
	 	12.15
		 	 (b)(1)
	 	N.A.
		 	 (b)(2)
	 	12.15
		 	 (c)
	 	12.15; 16.02
		 	 (d)
	 	12.15
	 Section 314(a)
	 	9.02; 9.03
		 	 (b)
	 	N.A.
		 	 (c)(1)
	 	16.04(a)
		 	 (c)(2)
	 	16.04(a)
		 	 (c)(3)
	 	N.A.
		 	 (d)
	 	N.A.
		 	 (e)
	 	16.04(b)
		 	 (f)
	 	N.A.
	 Section 315(a)
	 	12.01(a);
		 		 	12.01(b)(i)
		 	 (b)
	 	12.14; 16.02
		 	 (c)
	 	12.01(a)
		 	 (d)
	 	12.01(b)
		 	 (e)
	 	11.11
	 Section 316(a) (last sentence)
	 	2.09
		 	 (a)(1)(A)
	 	11.05
		 	 (a)(1)(B)
	 	11.05
		 	 (a)(2)
	 	N.A.
		 	 (b)
	 	11.07
		 	 (c)
	 	16.05
	 Section 317(a)(1)
	 	16.01
		 	 (a)(2)
	 	16.01
		 	 (b)
	 	16.01
	 Section 318(a)
	 	16.01

  

	______________	

  

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

	**	N.A. means Not Applicable. 

 TABLE OF CONTENTS 
 __________________________ 
  

			
		  	PAGE
	ARTICLE 1	  	
	DEFINITIONS AND INCORPORATION BY REFERENCE	  	
		
	 Section 1.01.    Definitions
	  	1
	 Section 1.02.    Trust Indenture Act Provisions
	  	8
	 Section 1.03.    Rules of Construction
	  	8
		
	ARTICLE 2	  	
	THE SECURITIES	  	
		
	 Section 2.01.    Form and Dating
	  	9
	 Section 2.02.    Execution and Authentication
	  	10
	 Section 2.03.    Registrar, Paying Agent and Conversion Agent
	  	11
	 Section 2.04.    Paying Agent to Hold Money and Securities in Trust
	  	11
	 Section 2.05.    Securityholder Lists
	  	12
	 Section 2.06.    Transfer and Exchange
	  	12
	 Section 2.07.    Replacement Securities
	  	13
	 Section 2.08.    Outstanding Securities
	  	13
	 Section 2.09.    Treasury Securities
	  	14
	 Section 2.10.    Temporary Securities
	  	14
	 Section 2.11.    Cancellation
	  	14
	 Section 2.12.    Legend; Additional Transfer and Exchange Requirements
	  	15
	 Section 2.13.    CUSIP Numbers
	  	20
	 Section 2.14.    Ranking
	  	20
	 Section 2.15.    Persons Deemed Owners
	  	20
	 Section 2.16.    Defaulted Interest
	  	21
		
	ARTICLE 3	  	
	[RESERVED]	  	
		
	ARTICLE 4	  	
	[RESERVED]	  	
		
	ARTICLE 5	  	
	REPURCHASE OF SECURITIES AT OPTION OF HOLDERS	  	
		
	 Section 5.01.    Purchase of Securities at Option of the Holder upon a Fundamental Change
	  	21
	 Section 5.02.    Effect of Fundamental Change Purchase Notice
	  	25
	 Section 5.03.    Deposit of Fundamental Change Purchase Price
	  	26
	 Section 5.04.    Securities Purchased in Part
	  	26
	 Section 5.05.    Repayment to the Company
	  	27
	 Section 5.06.    Compliance with Securities Laws upon Purchase of Securities
	  	27

  

 i 

			
	ARTICLE 6
	[RESERVED]
	
	ARTICLE 7
	CONVERSION
		
	 Section 7.01.    Conversion Privilege
	  	27
	 Section 7.02.    Conversion Procedure
	  	30
	 Section 7.03.    Taxes on Conversion
	  	31
	 Section 7.04.    Company to Provide Stock
	  	31
	 Section 7.05.    Adjustment of Conversion Rate
	  	32
	 Section 7.06.    No Adjustment
	  	38
	 Section 7.07.    Stockholder Rights Plans
	  	39
	 Section 7.08.    Effect of Reclassification, Consolidation, Merger or Sale on Conversion
Privilege
	  	39
	 Section 7.09.    Other Adjustments
	  	40
	 Section 7.10.    Notice of Adjustment
	  	40
	 Section 7.11.    [Reserved].
	  	40
	 Section 7.12.    Trustee’s Disclaimer
	  	40
	 Section 7.13.    Settlement Upon Conversion
	  	41
	ARTICLE 8
	[RESERVED]
	
	ARTICLE 9
	COVENANTS
		
	 Section 9.01.    Payment of Securities
	  	42
	 Section 9.02.    Reports and Certain Information
	  	43
	 Section 9.03.    Compliance Certificates
	  	43
	 Section 9.04.    Maintenance of Corporate Existence
	  	43
	 Section 9.05.    Stay, Extension and Usury Laws
	  	43
	 Section 9.06.    Maintenance of Office or Agency of the Trustee, Registrar, Paying Agent and Conversion
Agent
	  	44
	 Section 9.07.    Notice of Default
	  	44
	 Section 9.08.    Additional Interest Notice
	  	44
		
	ARTICLE 10	  	
	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	  	
		
	 Section 10.01.  Company May Consolidate, etc., Only on Certain Terms
	  	44
	 Section 10.02.  Successor Substituted
	  	45
		
	ARTICLE 11	  	
	DEFAULT AND REMEDIES	  	
		
	 Section 11.01.  Events of Default
	  	45
	 Section 11.02.  Acceleration
	  	46
	 Section 11.03.  Other Remedies
	  	47
	 Section 11.04.  Waiver of Defaults and Events of Default
	  	47

  

 ii 

			
	 Section 11.05.  Control by Majority
	  	47
	 Section 11.06.  Limitations on Suits
	  	48
	 Section 11.07.  Rights of Holders to Receive Payment and to Convert
	  	48
	 Section 11.08.  Collection Suit by Trustee
	  	48
	 Section 11.09.  Trustee May File Proofs of Claim
	  	48
	 Section 11.10.  Priorities
	  	49
	 Section 11.11.  Undertaking for Costs
	  	49
	 Section 11.12.  Delay or Omission Not Waiver
	  	49
	
	ARTICLE 12
	TRUSTEE
		
	 Section 12.01.  Certain Duties and Responsibilities of Trustee
	  	50
	 Section 12.02.  Certain Rights of Trustee
	  	51
	 Section 12.03.  Trustee Not Responsible for Recitals or Issuance or Securities
	  	52
	 Section 12.04.  May Hold Securities
	  	52
	 Section 12.05.  Moneys Held in Trust
	  	53
	 Section 12.06.  Compensation and Reimbursement
	  	53
	 Section 12.07.  Reliance on Officers’ Certificate
	  	53
	 Section 12.08.  Disqualification: Conflicting Interests
	  	54
	 Section 12.09.  Corporate Trustee Required; Eligibility
	  	54
	 Section 12.10.  Resignation and Removal; Appointment of Successor
	  	54
	 Section 12.11.  Acceptance of Appointment By Successor
	  	55
	 Section 12.12.  Merger, Conversion, Consolidation or Succession to Business
	  	56
	 Section 12.13.  Preferential Collection of Claims Against the Company
	  	56
	 Section 12.14.  Notice of Defaults
	  	56
	 Section 12.15.  Reports by Trustee
	  	56
	 Section 12.16.  Preferential Collection of Claims
	  	57
		
	ARTICLE 13	  	
	AMENDMENTS, SUPPLEMENTS AND WAIVERS	  	
		
	 Section 13.01.  Without Consent of Holders
	  	57
	 Section 13.02.  With Consent of Holders
	  	58
	 Section 13.03.  Compliance with Trust Indenture Act
	  	59
	 Section 13.04.  Revocation and Effect of Consents
	  	59
	 Section 13.05.  Notation on or Exchange of Securities
	  	59
	 Section 13.06.  Trustee to Sign Amendments, Etc
	  	59
	 Section 13.07.  Effect of Supplemental Indentures
	  	59
		
	ARTICLE 14	  	
	[RESERVED]	  	
		
	ARTICLE 15	  	
	SATISFACTION AND DISCHARGE	  	
		
	 Section 15.01.  Satisfaction and Discharge of the Indenture
	  	60
	 Section 15.02.  Repayment to the Company
	  	60

  

 iii 

			
	ARTICLE 16
	MISCELLANEOUS
		
	 Section 16.01.  Trust Indenture Act Controls
	  	61
	 Section 16.02.  Notices
	  	61
	 Section 16.03.  Communications by Holders with Other Holders
	  	61
	 Section 16.04.  Certificate and Opinion as to Conditions Precedent
	  	62
	 Section 16.05.  Record Date for Vote or Consent of Securityholders
	  	62
	 Section 16.06.  Rules by Trustee, Paying Agent, Registrar and Conversion Agent
	  	62
	 Section 16.07.  Legal Holidays
	  	62
	 Section 16.08.  Governing Law; Jury Trial Waiver
	  	63
	 Section 16.09.  No Adverse Interpretation of Other Agreements
	  	63
	 Section 16.10.  No Recourse Against Others
	  	63
	 Section 16.11.  Successors
	  	63
	 Section 16.12.  Multiple Counterparts
	  	63
	 Section 16.13.  Separability
	  	63
	 Section 16.14.  Calculations in Respect of the Securities
	  	63
	 Section 16.15.  Table of Contents, Headings, Etc
	  	63

  

			
	Exhibit A 	  	Form of Note:
		  	- Assignment Form
		  	- Form of Conversion Notice
		  	- Form of Fundamental Change Purchase Notice
		  	- Form of Certificate to be Delivered upon Exchange or Registration of Transfer of Restricted Securities
	Exhibit B	  	Table showing the Increase in Conversion Rate in connection with a Make-Whole Fundamental Change

  

 iv 

 THIS INDENTURE, dated as of March 13, 2007, is between CYPRESS SEMICONDUCTOR CORPORATION, a Delaware
corporation (the “Company”) and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (in such capacity and not in its individual capacity, the “Trustee”). 
 In consideration of the premises and the purchase of the Securities by the Holders thereof, the parties hereto agree as follows for the equal and ratable
benefit of the Holders of the Securities. 
  
 ARTICLE 1

 DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01.  Definitions. 
 “Additional Interest” has the meaning set forth in Section 5(a) of
the Registration Rights Agreement. Unless the context otherwise requires, all references herein or in the Securities to “interest” accrued or payable as of any date shall include, without duplication, any Additional Interest accrued or
payable as of such date as provided in the Registration Rights Agreement. 
 “Additional Interest Notice” has the meaning
specified in Section 9.08. 
 “Additional Securities” has the meaning specified in Section 2.02(d). 
 “Additional Shares” has the meaning specified in Section 7.01(c). 
 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or
indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”),
as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or
otherwise. 
 “Agent” means any Registrar, Paying Agent or Conversion Agent. 
 “Agent Members” has the meaning specified in has the meaning specified in Section 2.01(d). 
 “Applicable Procedures” means, with respect to any transfer or exchange of beneficial ownership interests in a Global Security, the
rules and procedures of the Depositary, in each case to the extent applicable to such transfer or exchange. 
 “Bankruptcy
Law” has the meaning specified in Section 11.01. 
 “beneficial owner” has the meaning specified in
Section 5.01(a). 
 “Board of Directors” means the board of directors of the Company or, except as used in the
definition of Fundamental Change and except where the context otherwise requires, any duly authorized committee of such board of directors. 
 “Business Day” means day, except a Saturday, Sunday or legal holiday on which banking institutions in The City of New York or San Jose, California or the city in which the Corporate Trust Office is located are authorized or
obligated by law or executive order to close. 
  

 1 

 “capital stock” has the meaning specified in Section 5.01(a). 
 “Cash” means such coin or currency of the United States as at any time of payment is legal tender for the payment of public and private
debts. 
 “Cash Percentage” has the meaning specified in Section 7.13(e). 
 “Close of Business” means 5:00 p.m. New York City time. 
 “Certificated Security” means a Security that is in substantially the form attached hereto as Exhibit A and that does not include the information or the schedule called for by footnotes 1 and 5
thereof. 
 “Closing Price” means the reported last sale price per share of the Common Stock on any Trading Day (or if no
last sale price is reported, the average of the bid and ask prices per share or, if there is more than one bid or ask price, the average of the average bid and the average ask prices per share) on such Trading Day as reported by the NYSE or, if the
Common Stock is not listed or quoted on the NYSE, as reported by the principal national or regional securities exchange on which the Common Stock is listed, or, if the Common Stock is not listed on a national or regional securities exchange, as
available in any over-the-counter market or, if not available on any over-the-counter market, the Closing Price shall be such price as the Board of Directors of the Company shall determine in good faith. 
 “Common Stock” means, subject to Section 7.08, shares of common stock of the Company, par value $0.01 per share, at the date of
this Indenture or shares of any class or classes resulting from any reclassification or reclassifications thereof and that have no preference in respect of dividends or of amounts payable in the event of any voluntary or involuntary liquidation,
dissolution or winding up of the Company and that are not subject to redemption by the Company; provided that if at any time there shall be more than one such resulting class, the shares of each such class then so issuable shall be
substantially in the proportion which the total number of shares of such class resulting from all such reclassifications bears to the total number of shares of all such classes resulting from all such reclassifications. 
 “Company” means the party named as such in the first paragraph of this Indenture until a successor replaces it pursuant to the
applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Company. 
 “Company
Order” has the meaning specified in Section 2.02(d). 
 “continuing director” has the meaning specified in
Section 5.01(a). 
 “Conversion Agent” has the meaning specified in Section 2.03. 
 “Conversion Date” has the meaning specified in Section 7.02(a). 
 “Conversion Notice” has the meaning specified in Section 7.02(a). 
 “Conversion Price” means, at any time, an amount equal to $1,000 divided by the Conversion Rate in effect at such time, rounded to the
nearest cent. 
 “Conversion Rate” has the meaning specified in Section 7.01(a). 
  

 2 

 “Conversion Reference Period” means (a) for Securities that are converted on or
after June 15, 2009, the 20 consecutive Trading Days beginning on the 22nd Scheduled Trading Day prior to the Maturity Date; and (b) in all other instances, the 20 consecutive Trading Days beginning on the third Trading Day following the
Conversion Date. 
 “Conversion Value” means the Closing Price of the Common Stock on any date of determination multiplied
by the Conversion Rate of the Securities in effect on such date. 
 “Corporate Trust Office” means the office of the Trustee
at which at any time the trust created by this Indenture shall be principally administered, which office at the date of the execution of this Indenture is located at 633 West 5th Street, 24th Floor, Los Angeles, CA 90071, Attention: Corporate Trust
Services (Cypress 1.00% Convertible Senior Notes due 2009), or such other office as the Trustee may designate by written notice to the Company. 
 “Custodian” has the meaning specified in Section 11.01. 
 “Daily Conversion Value” means,
for each of the 20 consecutive trading days during the Conversion Reference Period, one-twentieth (1/20) of the product of (i) the Conversion Rate on such day and (ii) the Daily VWAP of the Common Stock on such day. 
 “Daily Settlement Amount” has the meaning specified in Section 7.13(b). 
 “Daily Share Amount” has the meaning specified in Section 7.13(b). 
 “Daily VWAP” means, for each of the 20 consecutive trading days during the Conversion Reference Period, the Volume-Weighted Average
Price, provided that after the occurrence or effectiveness of a Fundamental Change described in clause (ii) of the definition thereof in which the holders of Common Stock receive only Cash, the Daily VWAP will be deemed to be the Cash price per
share received by holders of Common Stock in such Fundamental Change. 
 “Default” means, when used with respect to the
Securities, any event which is or, after notice or passage of time or both, would be an Event of Default. 
 “Depositary”
has the meaning specified in Section 2.01(b). 
 “Distributed Property” has the meaning specified in
Section 7.05(c). 
 “Effective Date” has the meaning specified in Section 7.01(a). 
 “Event of Default” has the meaning specified in Section 11.01. 
 “Exchange Act” means the United States Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder, as in effect from time to time. 
 “Ex Date” means (i) when used with respect to any dividend or
distribution, the first date on which the Common Stock trades, regular way, on the relevant exchange or in the relevant market from which the sale price was obtained without the right to receive such dividend or distribution; and (ii) when used
with respect to any tender offer or exchange offer, the first date on which the Common Stock trades, regular way, on the relevant exchange or in the relevant market from which the sale price was obtained after the expiration time. 
  

 3 

 “Existing Shareholders” has the meaning specified in Section 5.01(a). 

“Fundamental Change” has the meaning specified in Section 5.01(a). 
 “Fundamental Change Company Notice” has the meaning specified in Section 5.01(b). 
 “Fundamental Change Purchase Date” has the meaning specified in Section 5.01(a). 
 “Fundamental Change Purchase Notice” has the meaning specified in Section 5.01(c). 
 “Fundamental Change Purchase Price” has the meaning specified in Section 5.01(a). 
 “GAAP” means generally accepted accounting principles in the United States as 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 the United States, which are in effect from time to time and consistently applied. 
 “Global Security” means a permanent Global Security that is in substantially the form attached hereto as Exhibit A and that includes the information and schedule called for by footnotes 1 and 5 thereof and which is
deposited with the Depositary or its custodian and registered in the name of the Depositary or its nominee. 
 “Holder” or
“Securityholder” means the person in whose name a Security is registered in the Register. 
 “Indenture”
means this Indenture as amended or supplemented from time to time pursuant to the terms of this Indenture, including the provisions of the TIA that are explicitly incorporated in this Indenture by reference to the TIA. 
 “Initial Purchasers” means Credit Suisse Securities (USA) LLC, Deutsche Bank Securities and Lehman Brothers Inc. 
 “Initial Securities” means the Securities issued on the date hereof in the aggregate principal amount of $600,000,000, and any
Securities issued in replacement thereof. 
 “Indebtedness” has the meaning specified in Section 11.01(g). 

“Interest Payment Date” has the meaning set forth in the Securities. 
 “Interest Payment Record Date” has the meaning set forth in the Securities. 
 “Legal Holiday” has the meaning specified in Section 16.07. 
 “Make-Whole Fundamental Change” has the meaning specified in Section 5.01(a). 
 “Market Disruption Event” means (a) a failure by the primary exchange or quotation system on which the Common Stock trades or is
quoted to open for trading during its regular trading session or (b) the occurrence or existence prior to 1:00 p.m. New York City time on any Trading Day for the Common Stock of an aggregate one half hour period, of any suspension or limitation
imposed on trading (by reason of movements in price exceeding limits permitted by the stock exchange or otherwise) in the Common Stock or in any options, contracts or future contracts relating to the Common Stock. 
  

 4 

 “Maturity Date” means September 15, 2009. 
 “Merger Event” has the meaning specified in Section 7.08. 
 “Nasdaq” means the Nasdaq Global Market. 
 “Notice of Default” has the meaning specified in Section 11.01. 
 “NYSE” means the New York Stock Exchange. 
 “Offering Circular” means the Confidential Offering
Circular dated March 7, 2007, relating to the Securities. 
 “Officer” means, with respect to any Person, the Chairman
or any Co-Chairman of the Board, any Vice Chairman of the Board, the Chief Executive Officer, the Chief Operating Officer, the Chief Legal Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary,
any Assistant Secretary or any Vice President of such Person. 
 “Officers’ Certificate” means a certificate signed by
at least two Officers of the Company; provided, however, that for purposes of Section 7.08 and Section 9.03, “Officers’ Certificate” means a certificate signed by the principal executive officer, principal
financial officer or principal accounting officer of the Company and at least one other Officer of the Company. 
 “Opinion of
Counsel” means a written opinion from legal counsel containing, as applicable, the information specified in Section 16.04. The counsel may be an employee of or counsel to the Company who is reasonably satisfactory to the Trustee.

 “Paying Agent” has the meaning specified in Section 2.03. 
 “Person” or “person” means any individual, corporation, partnership, limited liability company, joint venture,
association, joint-stock company, trust, statutory trust, unincorporated organization, government or any agency or political subdivision thereof. 
 “Principal Amount” of a Security means the Principal Amount as set forth on the face of the Security. 
 “QIB” means a qualified institutional buyer as defined in Rule 144A. 
 “Record Date” means
(i) with respect to any payment of interest on the Securities, each March 1 and September 1 (whether or not a Business Day) and (ii) with respect to the events specified in Section 7.05, the meaning specified in
Section 7.05. 
 “Reference Property” has the meaning specified in Section 7.08. 
 “Register” has the meaning specified in Section 2.03. 
 “Registrar” has the meaning specified in Section 2.03. 
 “Registration Rights Agreement” means the Registration Rights Agreement, dated as of the date hereof, among the Company and the Initial
Purchasers. 
 “Restricted Certificated Security” means a Certificated Security that is a Restricted Security. 

 

 5 

 “Restricted Global Security” means a Global Security that is a Restricted Security.

 “Restricted Legend” has the meaning specified in Section 2.12(f). 
 “Restricted Security” means a Security required to bear the Restricted Legend called for by footnotes 2 and 3 to the form of Security
set forth in Exhibit A of this Indenture. 
 “Rule 144” means Rule 144 under the Securities Act or any successor to such
rule, as it may be amended from time to time. 
 “Rule 144A” means Rule 144A under the Securities Act or any successor to
such rule, as it may be amended from time to time. 
 “Rule 144A Information” has the meaning specified in
Section 9.02(b). 
 “Scheduled Trading Day” means any day that is scheduled to be a Trading Day. 
 “SEC” means the United States Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act, or,
if at any time after the execution of this Indenture the SEC is not existing and performing the duties now assigned to it under the TIA, then the body performing such duties at such time. 
 “Security” or “Securities” means the Company’s 1.00% Convertible Senior Notes due September 15, 2009, as
amended or supplemented from time to time pursuant to the terms of this Indenture, that are issued under this Indenture. 
 “Securities Act” means the United States Securities Act of 1933 and the rules and regulations promulgated thereunder, as in effect from time to time. 
 “Securities Custodian” means the Trustee, as custodian with respect to the Global Securities, or any successor thereto. 
 “Semiconductor Business” has the meaning specified in Section 5.01(a). 
 “Settlement Amount” has the meaning specified in Section 7.13(a). 
 “Significant Subsidiary” means any Subsidiary of the Company which has: (i) consolidated assets or in which the Company and its
other Subsidiaries have investments equal to or greater than 10% of the Company’s total consolidated assets; or (ii) consolidated gross revenue equal to or greater than 10% of the Company’s consolidated gross revenue. 
 “Spin-Off” has the meaning specified in Section 7.05(c). 
 “Spin-Off Securities” has the meaning specified in Section 7.05(c). 
 “Stock Price” has the meaning specified in Section 7.01(a). 
 “Subsidiary” means, in respect of any Person, any corporation, association, partnership or other business entity of which more than 50%
of the outstanding voting stock (as defined in Section 5.01) or other interests (including partnership interests) entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers, general partners or
trustees thereof, or persons performing similar functions, is at the time owned or controlled, directly or indirectly, by (i) such Person; 

  

 6 

 
(ii) such Person and one or more Subsidiaries of such Person; or (iii) one or more Subsidiaries of such Person. 
 “SunPower” has the meaning specified in Section 5.01(a). 
 “TIA” means the United States Trust Indenture Act of 1939, as amended, and the rules and regulations thereunder as in effect on the date
of this Indenture; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, then “TIA” means, to the extent required by such amendment, the Trust Indenture Act of 1939 as so amended.

 “Trading Day” means a day during which (i) trading in the Common Stock generally occurs and (ii) there is no
Market Disruption Event. 
 “Trading Price” means, on any date of determination, the average of the secondary market bid
quotations obtained by the Trustee for $5,000,000 principal amount of the Securities at approximately 3:30 p.m., New York City time, on such determination date from three nationally recognized securities dealers that the Company selects;
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 the Trustee cannot reasonably obtain at least one bid for $5,000,000 principal amount of the Securities from a nationally recognized securities
dealer, then the Trading Price per $1,000 principal amount of the Securities shall be deemed to be less than 98% of the product of the Closing Price and the Conversion Rate and, for the sole purpose of calculating any average Trading Price, shall be
deemed to be equal to 97.999% of the Conversion Value. 
 “Trigger Event” has the meaning specified in Section 7.05(b).

 “Trust Officer” means, with respect to the Trustee, any officer within the Corporate Trust Services department (or any
successor department) of the Trustee located at the Corporate Trust Office of the Trustee, who shall have direct responsibility for the administration of this Indenture, and also means, with respect to any particular corporate trust matter, any
other officer of the Trustee to whom such corporate trust matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 
 “Trustee” means U.S. Bank National Association, not in its individual capacity, but solely in its capacity as trustee hereunder, until a successor replaces it pursuant to the applicable provisions of
this Indenture and, thereafter, shall mean such successor Trustee. 
 “Unrestricted Certificated Security” means a
Certificated Security that is not a Restricted Security. 
 “Unrestricted Global Security” means a Global Security that is
not a Restricted Security. 
 “Vice President” when used with respect to the Company or the Trustee, means any vice
president, whether or not designated by a number or a word or words added before or after the title “vice president.” 
 “Volume-Weighted Average Price,” on any Trading Day, means the per share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page CY.N <EQUITY>AQR <GO> (or its
equivalent successor if such page is not available) in respect of the period from 9:30 a.m. to 4:00 p.m., New York City time, on such Trading Day (or if such volume-weighted 

  

 7 

 
average price is unavailable, the market value of one share of the Common Stock on such Trading Day determined, using a volume-weighted average method, by a
nationally recognized independent investment banking firm retained for this purpose by the Company. The volume-weighted average price shall be rounded to the nearest whole cent. 
 “voting stock” has the meaning specified in Section 5.01(a). 
 Section 1.02.  Trust Indenture Act Provisions. Whenever this Indenture refers to a provision of the TIA, that provision is incorporated by reference in and made a part of this Indenture. The Indenture shall also include those
provisions of the TIA required to be included herein by the provisions of the TIA. The following TIA terms used in this Indenture have the following meanings: 
 “Commission” means the SEC; 
 “indenture securities” means the Securities;

 “indenture security Holder” means a Securityholder; 
 “indenture to be qualified” means this Indenture; 
 “indenture trustee” or “institutional trustee” means the Trustee; and 
 “obligor” on the indenture securities means the Company and any successor obligor on the Securities. 
 All other
terms used in this Indenture that are defined in the TIA, defined by TIA reference to another statute or defined by any SEC rule and not otherwise defined herein have the meanings assigned to them therein. 
 Section 1.03.  Rules of Construction. Unless the context otherwise requires: 
 (a)      a term has the meaning assigned to it herein; 
 (b)      an accounting term not otherwise defined has the meaning
assigned to it in accordance with GAAP; 
 (c)      words in the singular include the plural, and words in the plural include the singular; 
 (d)      provisions apply to successive events and transactions; 
 (e)      the term “merger” includes a statutory share exchange and the term “merged” has a
correlative meaning; 
 (f)      the masculine gender includes the feminine and the neuter; 
 (g)      references to agreements and other instruments include subsequent amendments thereto; 
 (h)      references to “interest” include Additional Interest; 
 (i)      “herein,” “hereof,” “hereunder,” “hereinafter” and other
words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision; 
  

 8 

 (j)      unless context otherwise requires, any reference to an “Article” or a “Section” refers to an Article or Section, as the case may be, of this Indenture; 
 (k)      “or” is not exclusive; and 
 (l)      “including” means including without limitation. 
  
 ARTICLE 2 
 THE SECURITIES 
 Section 2.01.  Form and Dating. (a) The Securities and the corresponding Trustee’s certificate of
authentication shall be substantially in the respective forms set forth in Exhibit A, which Exhibit is incorporated in and made part of this Indenture. The Securities may have notations, legends or endorsements required by law, exchange rule,
Applicable Procedures or usage. The Company shall provide any such notations, legends or endorsements to the Trustee in writing. Each Security shall be dated the date of its authentication. 
 The terms and provisions contained in the Securities shall constitute, and are hereby expressly made, a part of this Indenture and the Company and the
Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby; provided, however, to the extent permitted by applicable law, if any provision of any Security conflicts
with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 
 (b)      Restricted Global Securities. All of the Securities shall be issued initially in the form of
one or more Restricted Global Securities, which shall be deposited on behalf of the purchasers of the Securities represented thereby with the Securities Custodian, as custodian for the depositary, The Depository Trust Company (such depositary, or
any successor thereto, being hereinafter referred to as the “Depositary”), and registered in the name of its nominee, Cede & Co., or as otherwise instructed by the Depositary, duly executed by the Company and authenticated
by the Trustee as hereinafter provided. The aggregate principal amount of the Restricted Global Securities may from time to time be increased or decreased by adjustments made on the records of the Securities Custodian and the Depositary as
hereinafter provided, subject in each case to compliance with the Applicable Procedures and the provisions of this Indenture. 
 (c)      Global Securities In General. Each Global Security shall represent such of the out-standing
Securities as shall be specified therein and each shall provide that it shall represent the aggregate amount of outstanding Securities from time to time endorsed thereon and that the aggregate amount of outstanding Securities represented thereby may
from time to time be reduced or increased, as appropriate, to reflect exchanges, purchases or conversions of such Securities, in each case in accordance with this Indenture. Any adjustment of the aggregate principal amount of a Global Security to
reflect the amount of any increase or decrease in the amount of outstanding Securities represented thereby shall be made by the Trustee in accordance with instructions given by the Holder thereof as required by Section 2.12 hereof, or otherwise
in accordance with this Indenture, and shall be made on the records of the Trustee and the Depositary. 
 The Company shall issue and the
Trustee shall, upon receipt of a Company Order, authenticate and deliver in accordance with Section 2.02, initially one or more Global Securities that (i) shall be registered in the name of Cede & Co. or as otherwise instructed by
the Depositary, (ii) shall be delivered 

  

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by the Trustee to the Depositary or to the Securities Custodian pursuant to the Depositary’s instructions and (iii) shall bear legends required for
Global Securities as set forth in Exhibit A hereto. 
 (d)      Book Entry Provisions. Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under this Indenture with
respect to any Global Security held on their behalf by the Depositary or under the Global Security, and the Depositary (including, for this purpose, its nominee) may be treated by the Company, the Trustee and any agent of the Company or the Trustee
as the absolute owner and Holder of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall (A) prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any
written certification, proxy or other authorization furnished by the Depositary, or such nominee, as the case may be, or (B) impair, as between the Depositary and its Agent Members, the Applicable Procedures or the operation of customary
practices governing the exercise of the rights of a Holder of any Security. 
 None of the Company, the Trustee, the Registrar, any Paying
Agent or any agent of any of them shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests in the Securities, for maintaining, supervising or reviewing any
records relating to such beneficial owner interests, or for any acts or omissions of a Depositary or for any transactions between a Depositary and any beneficial owner or between or among beneficial owners. No owner of a beneficial interest in the
Securities shall have any rights under this Indenture, and the Depositary or its nominee, if any, shall be deemed and treated by the Company, the Trustee, the Registrar, any Paying Agent or any agent of any of them as the absolute owner and holder
of such Securities for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee, the Registrar, any Paying Agent or any agent of any of them from giving effect to any written certification, proxy
or other authorization furnished by a Depositary, or any of its members and any other Person on whose behalf such member may act. 
 (e)      Certificated Securities. Certificated Securities shall be issued only
under the circumstances provided in Section 2.12(a)(i). 
 Section 2.02.      Execution and Authentication. (a) A duly authorized Officer of the Company shall sign the Securities for
the Company by manual or facsimile signature. 
 (b)      If an Officer of the Company whose signature is on a Security no longer holds that office at the time the Trustee authenticates the Security, the Security shall be
valid nevertheless. 
 (c)      A Security shall not be valid until an authorized signatory of the Trustee manually signs the certificate of authentication on the Security. The signature shall be conclusive evidence that the
Security has been authenticated under this Indenture. 
 (d)      The Trustee shall initially authenticate and make available for delivery Securities for original issue in the aggregate principal amount of up to $600,000,000 upon
receipt of a written order or orders of the Company signed by an Officer of the Company (a “Company Order”). The Company may, without the consent of the Holders, issue additional Securities (the “Additional
Securities”) with the same terms and with the same CUSIP number as the Securities in an unlimited aggregate principal amount; provided, however that no such Additional Securities may be issued unless fungible with the notes offered
hereby for U.S. federal income tax purposes. The Trustee shall authenticate Additional Securities thereafter in unlimited aggregate principal amount (so long as permitted by the terms of this Indenture) for original issue upon a Company Order of the
Company in aggregate principal amount as specified in such order (except as provided in Section 2.07). Each such Company Order shall specify the amount of Securities to be authenticated and the date on which the Securities are to be
authenticated. 

  

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Such Additional Securities shall have identical terms to the Initial Securities except for issuance dates and prices and with respect to interest accruing
prior to their date of issuance, and will constitute the same series as the Initial Securities for all purposes hereunder, including, without limitation, waivers, amendments and offers to purchase. 
 (e) The Trustee shall act as the initial authenticating agent. Thereafter, the Trustee may appoint an authenticating agent acceptable to the Company to
authenticate Securities. An authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent shall have
the same rights as an Agent to deal with the Company or an Affiliate of the Company. 
 The Securities shall be issuable only in registered
form without coupons and only in denominations of $1,000 principal amount and any integral multiple thereof. 
 Section 2.03.  Registrar, Paying Agent and Conversion Agent. The Company shall maintain an office or agency where
Securities may be presented for registration of transfer or for exchange (“Registrar”), an office or agency in the United States where Securities may be presented for purchase or payment (“Paying Agent”), an office
or agency where Securities may be presented for conversion (“Conversion Agent”) and an office or agency where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Registrar
shall keep a register of the Securities (“Register”) and of their transfer and exchange. 
 The Company may have one or more
co-registrars, one or more additional paying agents, and one or more additional conversion agents. The term “Registrar” includes any co-registrar, including any named pursuant to Section 9.06. The term “Paying Agent”
includes any additional paying agent, including any named pursuant to Section 9.06. The term “Conversion Agent” includes any additional conversion agent, including any named pursuant to Section 9.06. 
 The Company shall enter into an appropriate agency agreement with any Agent not a party to this Indenture. The agreement shall implement the provisions
of this Indenture that relate to such Agent. The Company shall notify the Trustee of the name and address of any Agent not a party to this Indenture. If the Company fails to maintain a Registrar, Paying Agent or Conversion Agent or agent for service
of notices and demands in any place required by this Indenture, or fails to give the foregoing notice, the Trustee shall act as such. The Company or any Affiliate of the Company may act as Paying Agent. 
 The Company hereby initially appoints the Trustee as Registrar, Paying Agent and Conversion Agent in connection with the Securities. 
 Section 2.04.  Paying Agent to Hold Money and Securities in Trust. Prior to 11:00 a.m., New York City time, on each due date of payments in respect of, or delivery of Cash or shares of Common Stock, as applicable and as provided
herein, the Company shall deposit with the Paying Agent Cash (in immediately available funds if deposited on the due date) or with the Conversion Agent such number of shares of Common Stock or other consideration sufficient to make such payments or
deliveries when so becoming due. The Company shall require each Paying Agent or Conversion Agent, as applicable (other than the Trustee), to agree in writing that such Agent shall hold in trust for the benefit of Securityholders or the Trustee all
Cash, Common Stock or other consideration, as applicable, held by such Agent for the making of payments or deliveries in respect of the Securities and shall notify the Trustee in writing of any default by the Company in making any such payment or
delivery. If the Company or an Affiliate of the Company acts as Paying Agent or Conversion Agent, as applicable, it shall segregate the Cash, Common Stock and other consideration, as applicable, held by it as Paying Agent or Conversion Agent, as
applicable, and hold it as a separate trust fund. 
  

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 The Company at any time may require a Paying Agent or Conversion Agent, as applicable, to pay all Cash,
Common Stock or other consideration, as applicable, held by it to the Trustee, and the Trustee may at any time during the continuance of any Default, upon written request to the Paying Agent or the Conversion Agent, as applicable, require such
Paying Agent or Conversion Agent, as applicable, to pay forthwith to the Trustee all Cash, Common Stock or other consideration, as applicable, so held in trust by such Paying Agent or Conversion Agent. Upon doing so, the Paying Agent or the
Conversion Agent, as applicable, shall have no further liability for such Cash, Common Stock or other consideration, as applicable. 
 Section 2.05.  Securityholder Lists. The Trustee shall preserve in as current a form as
is reasonably practicable the most recent list available to it of the names and addresses of the Securityholders. If the Trustee is not the Registrar, the Company shall furnish to the Trustee on or before each Interest Payment Date, and at such
other times as the Trustee may request in writing, a list of the names and addresses of the Securityholders in such form and as of such date as the Trustee may reasonably request. 
 Section 2.06.  Transfer and Exchange. (a) Subject to compliance with any applicable additional requirements contained in Section 2.12, when a Security is presented to a Registrar with a request to register a
transfer thereof or to exchange such Security for an equal principal amount of Securities of other authorized denominations, the Registrar shall register the transfer or make the exchange as requested; provided, however, that every
Security presented or surrendered for registration of transfer or exchange shall, if such Security is a Certificated Security, be duly endorsed or accompanied by an assignment form, in the form included in Exhibit A attached hereto and, if
applicable, a transfer certificate, in the form included in Exhibit A attached hereto, and in form reasonably satisfactory to the Registrar duly executed by the Holder thereof or its attorney duly authorized in writing. To permit registration of
transfers and exchanges, upon surrender of any Security for registration of transfer or exchange at an office or agency maintained pursuant to Section 2.03, the Company shall execute and the Trustee shall, upon receipt of a Company Order,
authenticate Securities of a like aggregate principal amount at the Registrar’s request. Any exchange or transfer shall be without charge, except that the Company or the Registrar may require payment of a sum sufficient to cover any tax,
assessment or other governmental charge that may be imposed in relation thereto, other than exchanges pursuant to Section 2.10, Section 13.05, Article 5 or Article 7, in each case, not involving any transfer. 
 Neither the Company, any Registrar nor the Trustee shall be required to exchange or register a transfer of any Securities or portions thereof in respect
of which a Fundamental Change Purchase Notice has been delivered and not validly withdrawn by the Holder thereof (except, in the case of the purchase of a Security in part, the portion thereof not to be purchased). 
 All Securities issued upon any transfer or exchange of Securities shall be valid obligations of the Company, evidencing the same debt and entitled to the
same benefits under this Indenture as the Securities surrendered upon such transfer or exchange. 
 (b)      Any Registrar appointed pursuant to Section 2.03 or Section 9.06 hereof shall provide to the Trustee such
information as the Trustee may reasonably request in connection with the delivery by such Registrar of Securities upon transfer or exchange of Securities. 
 The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any
interest in any Security (including any transfers between or among Agent Members or other beneficial owners of interests in any Global Security) other than to require delivery of such opinions of counsel, certificates and other documentation or
evidence as are expressly required by, and to do so if 

  

 12 

 
and when expressly required by the terms of, this Indenture (including if so requested by the Company exercising a right to require the delivery of such
items), and to examine the same to determine substantial compliance as to form with the express requirements hereof. 
 Any Holder of a
Global Security shall, by acceptance of such Global Security, agree that transfers of beneficial interests in such Global Security may be effected only through a book-entry system maintained by the Depositary (or its agent), and that ownership of a
beneficial interest in a Global Security shall be required to be reflected in a book-entry system. 
 Section 2.07.  Replacement Securities. If (a) any mutilated security is surrendered to the Company, a Registrar or the Trustee,
or (b) the Company, the Registrar and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of any Security, and, in either case, there is delivered to the Company, the Registrar and the Trustee such security or
indemnity as shall be reasonably required by them to save each of them harmless, then, in the absence of notice to the Company, such Registrar or the Trustee that such Security has been acquired by a bona fide or protected purchaser, the Company
shall issue, and the Trustee shall, upon receipt of a Company Order (which the Company agrees to deliver promptly), authenticate and deliver, in exchange for any such mutilated Security or in lieu of any such destroyed, lost or stolen Security, a
new Security of like tenor and principal amount, bearing a number not contemporaneously outstanding. 
 In case any such mutilated,
destroyed, lost or stolen Security has become or is about to become due and payable, or purchased by the Company pursuant to Article 5, the Company in its discretion may, instead of issuing a new Security, pay or purchase such Security, as the case
may be, in accordance herewith. 
 Upon the issuance of any new Securities under this Section 2.07, the Company may require the payment
of a sum sufficient to cover any tax, assessment or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the reasonable fees and expenses of the Trustee or the Registrar) in connection
therewith. 
 Every new Security issued pursuant to this Section 2.07 in lieu of any mutilated, destroyed, lost or stolen Security shall
constitute an original additional contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all benefits of this Indenture equally and
proportionately with any and all other Securities duly issued and outstanding hereunder. 
 The provisions of this Section 2.07 are (to
the extent lawful) exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
 Section 2.08.  Outstanding Securities. Securities outstanding at any time are all Securities authenticated by the Trustee, except for those canceled by it, those paid or repurchased pursuant to Section 2.07, those delivered
to it for cancellation and those described in this Section 2.08 as not outstanding. 
 If a Security is replaced pursuant to
Section 2.07 (other than a mutilated Security surrendered for replacement), it ceases to be outstanding unless the Trustee receives, subsequent to the new Security’s authentication, proof satisfactory to the Company that the replaced
Security is held by a bona fide or protected purchaser. A mutilated Security ceases to be outstanding upon surrender and replacement thereof pursuant to Section 2.07. 
  

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 If the Paying Agent holds, in accordance with the terms of this Indenture, prior to 11:00 a.m., New York
City time, on the Maturity Date or on a Fundamental Change Purchase Date, as the case may be, Cash sufficient to pay all Initial Securities and all Additional Securities then payable, then on and after such Maturity Date or Fundamental Change
Purchase Date, as the case may be, such Securities shall cease to be outstanding and interest on such Securities shall cease to accrue. 
 If
a Security is converted in accordance with Article 7, then on the Conversion Date, such Security shall cease to be outstanding and interest on such Security shall cease to accrue, unless there shall be a default in the delivery of the consideration
payable hereunder upon such conversion. 
 Subject to the restrictions contained in Section 2.09, a Security does not cease to be
outstanding solely because the Company or an Affiliate of the Company holds the Security. 
 Section 2.09.  Treasury Securities. In determining whether the Holders of the required principal amount of Securities have given or concurred
in any notice, request, demand, authorization, direction, waiver or consent, Securities owned by the Company or any other obligor on the Securities or by any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be
outstanding for such purposes, except that, for purposes of determining whether the Trustee shall be protected in relying on any such notice, request, demand, authorization, direction, waiver or consent, only Securities which a Trust Officer
actually knows are so owned shall be so disregarded. Securities so owned which have been pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to
the Securities and that the pledgee is not, and is not acting on the behalf of, the Company or any other obligor on the Securities or any Affiliate of the Company or of such other obligor. If requested by the Trustee, the Company agrees to notify
the Trustee in writing of the existence of any such Treasury Securities or Securities owned by the Company, any other obligor on the Securities, or, to the knowledge of the Company, any Affiliate of the Company. 
 Section 2.10.  Temporary Securities. Until definitive Securities are ready for delivery, the Company may prepare and execute, and, upon receipt of a Company Order, the Trustee shall authenticate and deliver, temporary
Securities. Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Company reasonably considers appropriate for temporary Securities. After the preparation of definitive Securities, the
temporary Securities shall be exchangeable for definitive Securities upon surrender of the temporary Securities at the office or agency of the Company designated for such purpose pursuant to Section 2.03, without charge to the Holder. Upon
surrender for cancellation of any one or more temporary Securities, the Company shall execute and the Trustee shall, upon receipt of a Company Order (which the Company agrees to deliver promptly), authenticate and deliver in exchange therefor a like
principal amount of definitive Securities of authorized denominations. Until so exchanged the temporary Securities shall in all respects be entitled to the same benefits under this Indenture as definitive Securities. 
 Section 2.11.  Cancellation. The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar, the Paying Agent and the Conversion Agent shall forward to the Trustee or its agent any
Securities surrendered to them for transfer, exchange, payment or conversion. The Trustee and no one else shall cancel, in accordance with its standard procedures, all Securities surrendered for transfer, exchange, payment, conversion or
cancellation and shall deliver the canceled Securities to the Company. The Company may not issue new Securities to replace Securities that it has paid or delivered to the Trustee for cancellation or that any Holder has converted pursuant to Article
7. 
 All Securities that are purchased pursuant to Article 5 or otherwise acquired by the Company shall be delivered to the Trustee for
cancellation. If the Company shall acquire any of the Securities, such 

  

 14 

 
acquisition shall not operate as a repurchase or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to
the Trustee for cancellation. 
 Section 2.12.  Legend; Additional Transfer and Exchange Requirements. (a) Transfer and Exchange of Global Securities. (i) Certificated Securities shall be issued in
exchange for interests in the Global Securities only (x) if the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for the Global Securities or if it at any time ceases to be a “clearing agency”
registered under the Exchange Act, if so required by applicable law or regulation, and a successor Depositary is not appointed by the Company within 90 days of such notice or (y) if an Event of Default has occurred and is continuing, each of
clauses (x) and (y) in accordance with the Applicable Procedures. In any such case, the Company shall execute, and the Trustee shall, upon receipt of a Company Order (which the Company agrees to deliver promptly), authenticate and deliver
Certificated Securities in an aggregate principal amount equal to the principal amount of such Global Securities in exchange therefor. Only Restricted Certificated Securities shall be issued in exchange for beneficial interests in Restricted Global
Securities, and only Unrestricted Certificated Securities shall be issued in exchange for beneficial interests in Unrestricted Global Securities. Certificated Securities issued in exchange for beneficial interests in Global Securities shall be
registered in such names and shall be in such authorized denominations as the Depositary, pursuant to instructions from its Agent Members or otherwise in accordance with the Applicable Procedures, shall instruct the Trustee. The Trustee shall
deliver or cause to be delivered such Certificated Securities to the Persons in whose name such Securities are so registered. Such exchange shall be effected in accordance with the Applicable Procedures. In the event that the Certificated Securities
are not issued to each such beneficial owner promptly after the Registrar has received a request from the Depositary to issue such Certificated Securities, the Company expressly acknowledges, with respect to the right of any Holder to pursue a
remedy pursuant to Section 11.06 or 11.07 hereof, the right of any beneficial holder of Securities to pursue such remedy with respect to the portion of the Global Security that represents such Beneficial Owner’s Securities as if such
Certificated Securities had been issued. 
 (ii)      Notwithstanding any other provisions of this Indenture other than the provisions set forth in Section 2.12(a)(i), a Global Security may not be transferred
except as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such
successor Depositary. 
 (b)      Transfer and Exchange of Certificated Securities. In the event that Certificated Securities are issued in exchange for beneficial interests in Global Securities in accordance with
Section 2.12(a)(i), and, on or after such event, Certificated Securities are presented by a Holder to the Registrar with a request: 
 (x)      to register the transfer of the Certificated Securities
to a person who shall take delivery thereof in the form of Certificated Securities only; or 
 (y)      to exchange such Certificated Securities for an equal principal amount of Certificated Securities of
other authorized denominations, 
 such Registrar shall register the transfer or make the exchange as requested; provided, however, that the
Certificated Securities presented or surrendered for register of transfer or exchange: 
 (i)      shall be duly endorsed or accompanied by a written instrument of transfer in accordance with the proviso to the first
sentence of Section 2.06(a); and 
  

 15 

 (ii)      in the case of a Restricted Certificated Security, such request shall be accompanied by the following additional information and documents, as applicable:

 (A)      if such Restricted Certificated Security is being delivered to the Registrar by a Holder for registration in the name of such Holder, without transfer, or such Restricted Certificated Security is
being transferred to the Company or a Subsidiary of the Company, a certification to that effect from such Holder (in substantially the form set forth in Exhibit A); 
 (B)      if such Restricted Certificated Security is being transferred to a person the Holder reasonably believes is a QIB in accordance with Rule 144A, or pursuant to an effective registration statement
under the Securities Act or in compliance with Regulation S under the Securities Act, a certification to that effect from such Holder (in substantially the form set forth in Exhibit A); 
 (C)      if such Restricted Certificated Security is being transferred pursuant to an exemption from the registration requirements of the Securities Act in accordance with Rule 144 or pursuant to and in
compliance with another exemption from the registration requirements under the Securities Act, a certification to that effect from the Holder (in substantially the form set forth in Exhibit A) and, if the Company or the Registrar so requests, an
Opinion of Counsel, certificates and other information reasonably acceptable to the Company to the effect that such transfer does not require registration under the Securities Act. 
 (c)      Transfer of a Beneficial Interest in a Restricted Global Security for a Beneficial Interest in an Unrestricted Global Security. Any person having a beneficial interest in a Restricted Global
Security may upon request, subject to the Applicable Procedures, transfer such beneficial interest to a Person who is required or permitted to take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security. Upon
receipt by the Trustee of written instructions, or such other form of instructions as is customary for the Depositary, from the Depositary or its nominee on behalf of any Person having a beneficial interest in a Restricted Global Security and the
following additional information and documents in such form as is customary for the Depositary from the Depositary or its nominee on behalf of the Person having such beneficial interest in the Restricted Global Security (all of which may be
submitted by facsimile or electronically): 
 (i)      if such beneficial interest is being transferred pursuant to an effective registration statement under the Securities Act, a certification to that effect from the
Holder (in substantially the form set forth in Exhibit A); or 
 (ii)      if such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the Securities Act
in accordance with Rule 144, a certification to that effect from the Holder (in substantially the form set forth in Exhibit A) and, if the Company or the Trustee so requests, an Opinion of Counsel, certificates and other information reasonably
acceptable to the Company to the effect that such transfer does not require registration under the Securities Act; 
 the Registrar shall reduce or cause to
be reduced the aggregate principal amount of the Restricted Global Security by the appropriate principal amount and shall increase or cause to be increased the aggregate principal amount of the Unrestricted Global Security by a like principal
amount. Such transfer shall otherwise be effected in accordance with the Applicable Procedures. If no Unrestricted Global Security is then outstanding, the Company shall execute and the Trustee shall, upon receipt of a Company Order 

  

 16 

 
(which the Company agrees to deliver promptly), authenticate and deliver an Unrestricted Global Security. 
 (d)      Transfer of a Beneficial Interest in an Unrestricted Global Security for a Beneficial Interest in a Restricted Global Security. Any person having a beneficial interest in an Unrestricted
Global Security may upon request, subject to the Applicable Procedures, transfer such beneficial interest to a person who is required or permitted to take delivery thereof in the form of a beneficial interest in a Restricted Global Security. Upon
receipt by the Trustee of written instructions, or such other form of instructions as is customary for the Depositary, from the Depositary or its nominee on behalf of any person having a beneficial interest in an Unrestricted Global Security and the
following additional information and documents in such form as is customary for the Depositary, from the Depositary or its nominee on behalf of the person having such beneficial interest in the Unrestricted Global Security (all of which may be
submitted by facsimile or electronically): 
 (i)      a certification from the Holder (in substantially the form set forth in Exhibit A) to the effect that such beneficial interest is being transferred to a person that
the transferor reasonably believes is a QIB in accordance with Rule 144A; 
 (ii)      a certification from the Holder (in substantially the form set forth in Exhibit A) to the effect that such beneficial interest is
being transferred in compliance with Regulation S under the Securities Act; 
 (iii)      if such beneficial interest in such Unrestricted Global Security is being transferred in compliance with any other exemption from
registration under the Securities Act, certification to that effect from such Holder (in substantially the form set forth in Exhibit A) and if the Company or the Trustee so requests, an Opinion of Counsel, certificates and other information
reasonably acceptable to the Company to the effect that such transfer does not require registration under the Securities Act; or 
 (iv)      a certification (in substantially the form set forth in Exhibit A) to the
effect that such beneficial interest is being transferred to the Company or a Subsidiary of the Company, the Registrar shall reduce or cause to be reduced the aggregate principal amount of the Unrestricted Global Security by the appropriate
principal amount and shall increase or cause to be increased the aggregate principal amount of the Restricted Global Security by a like principal amount. Such transfer shall otherwise be effected in accordance with the Applicable Procedures. If no
Restricted Global Security is then outstanding, the Company shall execute and the Trustee shall, upon receipt of a Company Order (which the Company agrees to deliver promptly), authenticate and deliver a Restricted Global Security. 
 (e)      Transfers of Certificated Securities for Beneficial Interest in Global Securities. In the event that Certificated Securities are issued in exchange for beneficial interests in Global
Securities and, thereafter, the events or conditions specified in Section 2.12(a)(i) which required such exchange shall cease to exist, the Company shall mail notice to the Trustee and to the Holders (i) stating that Holders may exchange
Certificated Securities for interests in Global Securities by complying with the procedures set forth in this Indenture and (ii) briefly describing such procedures and the events or circumstances requiring that such notice be given. Thereafter,
if Certificated Securities are presented by a Holder to a Registrar with a request: 
 (x)      to register the transfer of such Certificated Securities to a Person who will take delivery thereof in the form of a
beneficial interest in a Global Security, which request shall 

  

 17 

 
specify whether such Global Security will be a Restricted Global Security or an Unrestricted Global Security; or 
 (y)      to exchange such Certificated Securities for an equal principal amount of beneficial interests in a Global Security, which beneficial interests will be owned by the Holder transferring such
Certificated Securities (provided that in the case of such an exchange, Restricted Certificated Securities may be exchanged only for Restricted Global Securities and Unrestricted Certificated Securities may be exchanged only for Unrestricted Global
Securities), 
 the Registrar shall register the transfer or make the exchange as requested by canceling such Certificated Security and causing the aggregate
principal amount of the applicable Global Security to be increased accordingly and, if no such Global Security is then outstanding, the Company shall issue and the Trustee shall, upon receipt of a Company Order (which the Company agrees to deliver
promptly) authenticate and deliver a new Global Security; provided, however, that the Certificated Securities presented or surrendered for registration of transfer or exchange: 
 (iii)      shall be duly endorsed or accompanied by a written instrument of transfer in accordance with the proviso to Section 2.06(a); 
 (iv)      in the case of a Restricted Certificated Security to be transferred for a beneficial interest in an Unrestricted Global Security, shall be accompanied by the following additional information and
documents, as applicable: 
 (A)      if such Restricted Certificated Security is being transferred pursuant to an effective registration statement under the Securities Act, a certification to that
effect from such Holder (in substantially the form set forth in Exhibit A); or 
 (B)      if such Restricted Certificated Security is being transferred pursuant to an exemption from the registration requirements of
the Securities Act in accordance with Rule 144, a certification to that effect from such Holder (in substantially the form set forth in Exhibit A) and an Opinion of Counsel, certificates and other information reasonably acceptable to the Company to
the effect that such transfer does not require registration under of the Securities Act; 
 (v)      in the case of a Restricted Certificated Security to be transferred to another person for a
beneficial interest in a Restricted Global Security, shall be accompanied by the following information and documents, as applicable: 
 (A)      if such Restricted Certificated Security is being
transferred to a person the Holder reasonably believes is a QIB in accordance with Rule 144A, a certification to that effect from such Holder (in substantially the form set forth in Exhibit A); or 
 (B)      if such Restricted Certificated Security is being transferred in compliance with Regulation S under the Securities Act, certification to that effect from such Holder (in substantially the form set
forth in Exhibit A); 
 (vi)      in the case of an Unrestricted Certificated Security to be transferred or exchanged for a beneficial interest in an Unrestricted Global Security, or in the case of a Restricted
Certificated Security to be exchanged (and not transferred) for a beneficial interest in a Restricted Global Security, such request need not be accompanied by any additional information or documents; and 
  

 18 

 (vii)      in the case of an Unrestricted Certificated Security to be transferred or exchanged for a beneficial interest in a Restricted Global Security, such request shall be
accompanied by the following additional information and documents, as applicable: 
 (A)      if such Unrestricted Certificated Security is being transferred to a person the Holder reasonably believes is a QIB (which,
in the case of an ex-change, shall be such Holder) in accordance with Rule 144A, a certification to that effect from such Holder (in substantially the form set forth in Exhibit A); 
 (B)      if such Unrestricted Certificated Security is being transferred in compliance with Regulation S under the Securities Act, certification to that effect from such Holder (in substantially the form
set forth in Exhibit A); 
 (C)      if such Unrestricted Certificated Security is being transferred in compliance with any other exemption from registration under the Securities Act, certification to
that effect from such Holder (in substantially the form set forth in Exhibit A) and an Opinion of Counsel, certificates and other information reasonably acceptable to the Company to the effect that such transfer does not require registration under
the Securities Act; or 
 (D)      if such Unrestricted Certificated Security is being transferred to the Company or a Subsidiary of the Company, a certification to that effect from such Holder (in substantially the form
set forth in Exhibit A). 
 (f)      Legends. (i) Except as permitted by the following paragraphs (ii), (iii) and (iv), each Global Security and Certificated Security (and all Securities issued in exchange therefor or
upon registration of transfer or replacement thereof) shall bear a legend in substantially the form called for by Exhibit A attached hereto (the “Restricted Legend”), for so long as it is required by this Indenture to bear such
legend. 
 (ii)      Upon any sale or transfer of a Restricted Security (x) after the expiration of the holding period applicable to sales of the Securities under Rule 144(k) of the Securities Act,
(y) pursuant to Rule 144 or (z) pursuant to an effective registration statement under the Securities Act: 
 (A)      in the case of any Restricted Certificated Security, each Registrar shall
permit the Holder thereof to transfer such Restricted Certificated Security to a transferee who, unless such transferee is an Affiliate of the Company, shall take such Security in the form of an Unrestricted Certificated Security or (under the
circumstances described in Section 2.12(e)) an Unrestricted Global Security, and in each case shall rescind any restriction on the transfer of such Security; provided, however, that the Holder of such Restricted Certificated
Security shall, in connection with such exchange or transfer, comply with the other applicable provisions of this Section 2.12; and 
 (B)      in the case of a Restricted Global Security, each
Registrar shall permit the Holder thereof to transfer such beneficial interest in a Restricted Global Security to a transferee who, unless such transferee is an Affiliate of the Company, shall take such Security in the form of a beneficial interest
in an Unrestricted Global Security and shall rescind any restriction on transfer of such Security; provided, however, that such Unrestricted Global Security shall continue to be subject to the provisions of Section 

  

 19 

 
2.12(a)(ii); and provided further, however, that the owner of such beneficial interest shall, in connection with such transfer, comply with the
other applicable provisions of this Section 2.12. 
 If the Applicable Procedures so require, prior to the removal of any restrictive legend at the end
of the holding period applicable to sales of the Securities under Rule 144(k) of the Securities Act, such requesting Holder shall deliver an Opinion of Counsel in form reasonably acceptable to the Company to the effect that the restrictions on
transfer contained herein and the restrictive legend are no longer required in order to maintain compliance with the Securities Act. 
 (iii)      Upon the exchange, registration of transfer or
replacement of Securities not bearing the Restricted Legend, the Company shall issue, and the Trustee shall, upon receipt of a Company Order (which the Company agrees to deliver promptly), authenticate and deliver, Securities that do not bear such
Restricted Legend. 
 (iv)      After the expiration of the holding period pursuant to Rule 144(k) of the Securities Act, the Company may with the consent of any Holder of a Restricted Global Security or a Restricted
Certificated Security that is not an Affiliate of the Company, remove any restriction of transfer on such Security, and the Company shall issue, and the Trustee shall, upon receipt of a Company Order (which the Company agrees to deliver promptly),
authenticate and deliver Securities that do not bear the Restricted Legend. 
 (v)      Until the expiration of the holding period applicable to sales of the Securities under Rule 144(k) of the Securities Act or a
transfer pursuant to Rule 144 or pursuant to an effective registration statement under the Securities Act, the shares of Common Stock issued upon conversion of the Securities shall bear a legend substantially to the same effect as the Restricted
Legend; provided that all Securities held by Affiliates of the Company shall bear the Restricted Legend at all times. 
 (g)      Transfers to the Company. Nothing contained in this Indenture or in the Securities shall
prohibit the sale or other transfer of any Securities (including beneficial interests in Global Securities) to the Company, or any of its Subsidiaries or any of its Affiliates. 
 Section 2.13.      CUSIP Numbers. The Company in issuing the Securities may use one or more “CUSIP,” “ISIN” or other similar numbers (if then generally in use), and, if so, the
Trustee shall use “CUSIP,” “ISIN” or other similar numbers in notices of purchase as a convenience to Holders; provided, however, that any such notice may state that no representation is made as to the correctness
of such numbers either as printed on the Securities or as contained in any notice of a purchase and that reliance may be placed only on the other identification numbers printed on the Securities, and any such purchase shall not be affected by any
defect in or omission of such numbers. The Company shall promptly notify the Trustee of any change in the “CUSIP,” “ISIN” or other similar numbers. 
 Section 2.14.      Ranking. The obligations of
the Company arising under or in connection with this Indenture and every outstanding Security issued under this Indenture from time to time constitutes and shall constitute a senior unsecured general obligation of the Company, ranking equally with
existing and future senior unsecured indebtedness of the Company and ranking senior in right of payment to any future indebtedness of the Company that is expressly made subordinate to the Securities by the terms of such indebtedness. 
 Section 2.15.      Persons Deemed Owners. Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the person

  

 20 

 
in whose name such Security is registered, which shall initially be the Depositary, as the owner of such Security for the purpose of receiving payment of
principal of, Fundamental Change Purchase Price and interest on the Security, for the purpose of receiving Common Stock or Cash and for all other purposes, including without limitation, for purposes of giving notices hereunder, whatsoever, whether
or not such Security is overdue, and none of the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. The registered Holder of a Global Security may grant proxies and otherwise authorize any
person, including Agent Members and persons that may hold interests through Agent Members, to take any action that a Holder is entitled to take under this Indenture or the Securities. 
 Section 2.16.  Defaulted Interest. If the Company defaults on a payment of interest on the Securities, it shall pay the defaulted interest, plus (to the extent permitted by law) any interest payable on the defaulted interest, in
accordance with the terms hereof, to the Persons who are Holders on a subsequent special record date, which date shall be at least five Business Days prior to the payment date. The Company shall fix such special record date and payment date in a
reasonable manner. At least 10 days before such special record date, the Company shall mail to each Holder a notice that states the special record date, the payment date and the amount of defaulted interest, and interest payable on defaulted
interest, if any, to be paid. The Company may make payment of any defaulted interest in any other lawful manner not inconsistent with the requirements (if applicable) of any securities exchange on which the Securities may be listed and, upon such
notice as may be required by such exchange. 
  
 ARTICLE 3

 [RESERVED] 
  
 ARTICLE 4 
 [RESERVED] 
  
 ARTICLE 5

 REPURCHASE OF SECURITIES AT OPTION
OF HOLDERS 
 Section 5.01.  Purchase of Securities at Option of the Holder upon a Fundamental Change. (a) In the event a Fundamental Change shall occur at any time when any Securities remain outstanding,
each Holder shall have the right, at such Holder’s option, to require the Company to purchase all of such Holders’ Securities or any portion of the principal amount thereof that is equal to $1,000 or an integral multiple thereof on a date
specified by the Company (the “Fundamental Change Purchase Date”) that is not less than 15 nor more than 45 Business Days after the date the Company mails the Fundamental Change Company Notice pursuant to Section 5.01(b), at a
purchase price in Cash equal to 100% of the principal amount of the Securities tendered for purchase, plus accrued and unpaid interest (including Additional Interest, if any) to, but not including, the Fundamental Change Purchase Date (the
“Fundamental Change Purchase Price”), subject to satisfaction by or on behalf of any Holder of the requirements set forth in Section 5.01(c). 
 A “Fundamental Change” shall be deemed to have occurred upon the occurrence of any of the following: 
  

 21 

 (i)      any “person” or “group” (other than the Company or its employee benefit plans) becomes the “beneficial owner,” directly or indirectly,
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 or has the power, directly or indirectly, to elect a majority of the members of the board
of directors of the Company and (a) such person or group files a Schedule 13D or Schedule TO, or any successor schedule, form or report under the Exchange Act, disclosing the same or (b) the Company otherwise becomes aware of any such
person or group; 
 (ii)      the Company consolidates with, or merges with or into, another Person or, in a single transaction or a series of transactions, the Company sells, assigns, conveys, transfers, leases or
otherwise disposes of all or substantially all of the Company’s assets, or any Person consolidates with, or merges with or into, the Company, provided, however, that a transaction described in this clause (ii) will be deemed not to be a
Fundamental Change so long as such transaction (A) both (1) does not result in any reclassification, conversion, exchange or cancellation of outstanding shares of the Company’s voting stock and (2) the Persons (the
“Existing Shareholders”) that “beneficially owned,” directly or indirectly, shares of the Company’s voting stock immediately prior to such transaction beneficially own, directly or indirectly, shares of voting stock
representing a majority of the total voting power of all outstanding classes of voting stock of the surviving or transferee person or (B) which is effected solely for the purpose of changing the Company’s jurisdiction of incorporation and
resulting in a reclassification, conversion or exchange of outstanding shares of Common Stock, if at all, solely into shares of the surviving entity or a direct or indirect parent of the surviving entity; 
 (iii)      in a single transaction or a series of transactions of any kind, the Company sells, conveys, transfers, dividends, distributes or otherwise disposes of shares the Company holds of common stock of
SunPower Corporation (“SunPower”), such that, immediately following the completion of such transaction or series of transactions, the Company (together with its direct and indirect wholly owned subsidiaries) holds less than 40% of
the outstanding shares of common stock of SunPower (considering the Class A common stock, par value $0.001 per share, and the Class B common stock, par value $0.001 per share, of SunPower as a single class); 
 (iv)      in a single transaction or a series of transactions of any kind, the Company sells, conveys, transfers, dividends, distributes or otherwise disposes of all or substantially all of the Semiconductor
Business. “Semiconductor Business” means, as of any date, all of the Company’s operations, assets and properties (including the Company’s capital stock in subsidiaries or joint ventures), other than the Company’s
interest in SunPower. 
 (v)      the Common Stock or the Common Stock into which the Securities are then convertible ceases to be listed on the NYSE, the Nasdaq or another national securities exchange and is not then
quoted on an established automated over-the-counter trading market in the United States and no American Depositary Shares or similar instruments for the Common Stock are so listed or quoted in the United States; 
 (vi)      continuing directors cease to constitute a majority of the Company’s board of directors; or 
 (vii)      the Company’s stockholders approve any plan or
proposal for the Company’s liquidation or dissolution. 
 A “Make-Whole Fundamental Change” shall be deemed to have
occurred upon the occurrence of a Fundamental Change described in clauses (i), (ii), (iii), (iv) and (vii) above. 
  

 22 

 Notwithstanding anything to the contrary set forth in this Indenture, a merger or consolidation described
in clause (ii) above shall be deemed not to constitute a Fundamental Change or Make-Whole Fundamental Change if at least 90% of the consideration (excluding Cash payments for fractional shares and Cash payments pursuant to dissenters’
appraisal rights) in the merger or consolidation constituting the Fundamental Change consists of common stock traded on the NYSE, Nasdaq or another national securities exchange (or which shall be so traded when issued or exchanged in connection with
such merger or consolidation) and as a result of such transaction or transactions the Securities become convertible solely into cash in an amount equal to the lesser of $1,000 and the Conversion Value and, if the Conversion Value is greater than
$1,000, payment of the excess value in cash, shares or a combination of cash and shares in substantially the same manner as described above. 
 For purposes of this Section 5.01: 
  

	 	·	 	 “person” and “group” shall have the meanings given to them for purposes of Sections 13(d) and 14(d) of the Exchange Act or any
successor provisions, and the term “group” includes any group acting for the purpose of acquiring, holding or disposing of securities within the meaning of Rule 13d-5(b)(1) under the Exchange Act, or any successor provision;

  

	 	·	 	 a “beneficial owner” shall be determined in accordance with Rule 13d-3 under the Exchange Act, as in effect on the date of this Indenture;

  

	 	·	 	 “beneficially own” and “beneficially owned” have meanings correlative to that of beneficial owner; 

 

	 	·	 	 “board of directors” means the board of directors or other governing body charged with the ultimate management of any person;

  

	 	·	 	 “capital stock” means: (i) in the case of a corporation, corporate stock; (ii) in the case of an association or business entity, any and
all shares, interests, participations, rights or other equivalents (however designated) of corporate stock; (iii) in the case of a partnership or limited liability company, partnership interests (whether general or limited) or membership
interests; or (iv) 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, the issuing person; 

  

	 	·	 	 “continuing director” means a director who either was a member of the Company’s board of directors on March 7, 2007, or who becomes a
member of the board of directors subsequent to that date and whose election, appointment or nomination for election by the Company’s stockholders is duly approved by a majority of the continuing directors on the board of directors at the time
of such approval, either by a specific vote or by approval of the proxy statement issued by the Company on behalf of the Company’s entire board of directors in which such individual is names as a nominee for director; and

  

	 	·	 	 “voting stock” means any class or classes of capital stock or other interests then outstanding and normally entitled (without regard to the
occurrence of any contingency) to vote in the election of the board of directors. 

 (b)      Notice of Fundamental Change. Within 30 Business Days after the Effective Date of each Fundamental Change, the
Company shall notify the Trustee of the Fundamental Change Purchase Date and shall mail a written notice of the Fundamental Change (the “Fundamental Change Company Notice”) to each Holder (and to beneficial owners as required by
applicable law) in accordance with 

  

 23 

 
Section 16.02. The notice shall include the form of a Fundamental Change Purchase Notice to be completed by the Holder and shall state, as applicable:

 (i)      the events causing such Fundamental Change and the date of such Fundamental Change; 
 (ii)      that the Holder has a right to require the Company to
purchase the Holder’s Securities; 
 (iii)      the date by which the Fundamental Change Purchase Notice must be delivered to the Paying Agent in order for a Holder to exercise the Fundamental Change purchase
right; 
 (iv)      the Fundamental Change Purchase Date; 
 (v)      the Fundamental Change Purchase Price; 
 (vi)      the procedures that the Holder must follow to exercise its Fundamental Change purchase right under this Section 5.01; 
 (vii)     the names and addresses of the Paying Agent and the Conversion Agent; 
 (viii)    that the Securities must be surrendered to the Paying Agent to collect payment of the
Fundamental Change Purchase Price; 
 (ix)      that the Fundamental Change Purchase Price for any Security as to which a Fundamental Change Purchase Notice has been duly given and not withdrawn shall be paid
promptly following the later of the Fundamental Change Purchase Date and the time of surrender of such Security; 
 (x)      the Conversion Rate (after giving effect to any change in the Conversion Rate
that resulted from the Fundamental Change); 
 (xi)      that the Securities with respect to which a Fundamental Change Purchase Notice has been given may be converted pursuant to Article 7 of this Indenture only if either
(i) the Fundamental Change Purchase Notice has been withdrawn in accordance with the terms of this Indenture or (ii) there shall be a default in the payment of the Fundamental Change Purchase Price; 
 (xii)      the procedures for withdrawing a Fundamental Change Purchase Notice; 
 (xiii)     that, unless the Company defaults in making payment of such Fundamental Change
Purchase Price, interest on Securities surrendered for purchase by the Company shall cease to accrue on and after the Fundamental Change Purchase Date; and 
 (xiv)     the CUSIP number(s) of the Securities. 
 If any of the Securities are in the form of a Global
Security, then the Company shall modify such notice to the extent necessary to accord with the Applicable Procedures for repurchases. 
 At
the Company’s request, the Trustee shall give the Fundamental Change Company Notice on behalf of the Company and at the Company’s expense; provided, however, that the Company makes such 

  

 24 

 
request at least three Business Days (unless a shorter period shall be consented to by the Trustee) prior to the date by which such Fundamental Change
Company Notice must be given to the Holders in accordance with this Section 5.01(b); provided further, however, that the text of such notice shall be prepared by the Company. 
 (c)      Fundamental Change Purchase Notice. A Holder may exercise its right specified in Section 5.01(a) upon delivery of a written notice (which shall be in substantially the form
included in Exhibit A hereto and which may be delivered by letter, overnight courier, hand delivery, facsimile transmission or in any other written form and, in the case of Global Securities, may be delivered electronically or by other means in
accordance with the Applicable Procedures) of the exercise of such rights (a “Fundamental Change Purchase Notice”) to and actually received by a Paying Agent at any time prior to 5:00 p.m., New York City time, on the Business Day
immediately preceding the Fundamental Change Purchase Date. The Fundamental Change Purchase Notice must state: 
 (i)      if Certificated Securities are to be delivered, the certificate numbers of the
Securities that the Holder shall deliver to be purchased; 
 (ii)      the portion of the principal amount of the Securities that the Holder shall deliver to be purchased, which portion must be in
principal amounts of $1,000 or an integral multiple thereof; and 
 (iii)      that such Securities shall be purchased by the Company on the Fundamental Change Purchase Date pursuant to the terms and conditions
specified in this Indenture. 
 The delivery of such Security to any Paying Agent (together with all necessary endorsements) at the office of
such Paying Agent shall be a condition to the receipt by the Holder of the Fundamental Change Purchase Price; provided, however, that such Fundamental Change Purchase Price shall be paid pursuant to this Section 5.01 only if the
Security so delivered to the Paying Agent shall conform in all material respects to the description thereof in the related Fundamental Change Purchase Notice. 
 The Company shall purchase from the Holder thereof, pursuant to this Section 5.01, a portion of a Security if the principal amount of such portion is $1,000 or an integral multiple of $1,000. Provisions of this
Section 5.01 that apply to the purchase of all of a Security also apply to the purchase of such a portion of such Security. 
 Notwithstanding anything herein to the contrary, any Holder delivering to the Paying Agent the Fundamental Change Purchase Notice contemplated by this Section 5.01(c) shall have the right to withdraw such Fundamental Change Purchase
Notice at any time prior to 5:00 p.m., New York City time, on the Business Day immediately preceding the Fundamental Change Purchase Date by delivery of a written notice of withdrawal to the Paying Agent in accordance with Section 5.02(b).

 A Paying Agent shall promptly notify the Company once each Business Day of the receipt by it of any Fundamental Change Purchase Notices or
written notices of withdrawal thereof. 
 (d)      Notwithstanding anything herein to the contrary, in the case of Global Securities, any Fundamental Change Purchase Notice may be delivered or withdrawn, and such Securities may be
surrendered or delivered for purchase, in accordance with the Applicable Procedures. 
 Section 5.02.  Effect of Fundamental Change Purchase Notice. (a) Upon receipt by any Paying Agent of a Fundamental Change Purchase Notice, the
Holder of the Security in respect of which such Fundamental Change Purchase Notice was given shall (unless such Fundamental Change Purchase Notice 

  

 25 

 
is withdrawn as specified below) thereafter be entitled to receive the Fundamental Change Purchase Price with respect to such Security. Such Fundamental
Change Purchase Price shall be paid to such Holder promptly following the later of (i) the Fundamental Change Purchase Date (provided such Holder has satisfied the conditions in Section 5.01(c)) with respect to such Security and
(ii) the time of delivery of such Security to a Paying Agent by the Holder thereof in the manner required by Section 5.01(c). A Security in respect of which a Fundamental Change Purchase Notice has been given by the Holder thereof may not
be converted pursuant to Article 7 hereof on or after the date of the delivery of such Fundamental Change Purchase Notice, unless either (i) such Fundamental Change Purchase Notice has first been validly withdrawn in accordance with
Section 5.02(b); or (ii) there shall be a default in the payment of the Fundamental Change Purchase Price, provided, that the conversion right with respect to such Security shall terminate at 5:00 p.m., New York City time, on the
date such default is cured and such Security is purchased in accordance herewith. 
 (b)      A Fundamental Change Purchase Notice may be withdrawn by any Holder delivering such Fundamental Change Purchase Notice upon delivery
of a written notice of withdrawal (which may be delivered by mail, overnight courier, hand delivery, facsimile transmission or in any other written form and, in the case of Global Securities, may be delivered electronically or by other means in
accordance with the Applicable Procedures) to and actually received by Paying Agent at any time prior to 5:00 p.m., New York City time, on the Business Day immediately preceding the Fundamental Change Purchase Date, specifying: 
 (i)      if Certificated Securities are to be withdrawn, the certificate numbers of the Securities in respect of which such notice of withdrawal is being submitted; 
 (ii)      the principal amount of the Securities in respect of which such notice of withdrawal is being submitted, which principal amount must be $1,000 or an integral multiple thereof; and 
 (iii)      the principal amount, if any, of the Securities that remains subject to the original Fundamental Change Purchase Notice and that has been or shall be delivered for purchase by the Company.

 Section 5.03.  Deposit of Fundamental Change Purchase Price. Prior to 10:00 a.m., New York City time, on a Fundamental Change Purchase Date, the Company shall deposit with the Paying Agent (or if the Company or an
Affiliate of the Company is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 2.04) an amount in Cash (in immediately available funds if deposited on such Fundamental Change Purchase Date) sufficient to pay
the aggregate Fundamental Change Purchase Price of all the Securities or portions thereof that are to be purchased on that Fundamental Change Purchase Date. 
 If a Paying Agent holds, in accordance with the terms hereof, at 10:00 a.m., New York City time, on a Fundamental Change Purchase Date, Cash sufficient to pay the aggregate Fundamental Change Purchase Price of all
Securities for which a Fundamental Change Purchase Notice has been delivered and not validly withdrawn in accordance with this Indenture, then, on and after such Fundamental Change Purchase Date, such Securities shall cease to be outstanding and
interest on such Securities shall cease to accrue, whether or not such Securities are delivered to the Paying Agent, and the rights of the Holders in respect thereof shall terminate (other than the right to receive the Fundamental Change Purchase
Price upon delivery of such Securities by their Holders to the Paying Agent). 
 Section 5.04.  Securities Purchased in Part. Any Certificated Security that is to be purchased only in part shall be surrendered at the office of a
Paying Agent (with, if the Company or the Trustee so 

  

 26 

 
requires, due endorsement by, or a written instrument of transfer in form reasonably satisfactory to the Company and the Trustee duly executed by, the Holder
thereof or such Holder’s attorney duly authorized in writing), and promptly after a Fundamental Change Purchase Date, the Company shall issue and the Trustee shall, upon receipt of a Company Order (which the Company agrees to deliver promptly),
authenticate and deliver to the Holder of such Security, without service charge, a new Security or Securities, of such authorized denomination or denominations as may be requested by such Holder, in aggregate principal amount equal to, and in
exchange for, the portion of the principal amount of the Security so surrendered that is not purchased. 
 Section 5.05.  Repayment to the Company. To the extent that the aggregate amount of Cash deposited by the Company
pursuant to Section 5.02 exceeds the aggregate Fundamental Change Purchase Price of the Securities or portions thereof that the Company is obligated to purchase on the Fundamental Change Purchase Date, then, within one day after the Fundamental
Change Purchase Date, the Paying Agent shall return any such excess Cash to the Company. 
 Section 5.06.  Compliance with Securities Laws upon Purchase of Securities. When complying with the provisions of Article 5 hereof (provided that such
offer or purchase constitutes an “issuer tender offer” for purposes of Rule 13e-4 (which term, as used herein, includes any successor provision thereto) under the Exchange Act at the time of such offer or purchase), and subject to any
exemptions available under applicable law, the Company shall: 
 (a)      comply with Rule 13e-4, Rule 14e-1 and any other tender offer rules under the Exchange Act that may then be applicable; and 
 (b)      otherwise comply with all federal and state securities laws so as to permit the rights and obligations in connection with any purchase pursuant to this Article 5 to be exercised in the time and in
the manner specified herein. 
  
 ARTICLE 6 
 [RESERVED] 
  
 ARTICLE 7 
 CONVERSION 
 Section 7.01.  Conversion Privilege. (a) Subject to and upon compliance with the provisions of this Article 7, at the option of the Holder thereof, any Security, in whole or in part, may be
converted into the Settlement Amount, at a rate (the “Conversion Rate”) of 41.841 shares of Common Stock per $1,000 principal amount of Securities, subject to adjustment pursuant to Section 7.05, prior to the Close of Business
on the Scheduled Trading Day immediately preceding the Maturity Date. 
 (b)      The Securities shall be convertible (i) at any time on or after June 15, 2009 and prior to the Close of Business on the
Scheduled Trading Day immediately preceding the Maturity Date and (ii) prior to June 15, 2009, only upon the occurrence of one of the following events: 
 (i)      During any calendar quarter after the calendar quarter ending June 30, 2007, if the Closing Price of the Common Stock for at least twenty (20) Trading Days in a period of 30 consecutive
Trading Days ending on the last Trading Day of the preceding calendar quarter exceeds 130% of the Conversion Price on such last Trading Day. Commencing July 1, 2007 and 

  

 27 

 
at the beginning of each fiscal quarter thereafter, the Conversion Agent shall determine, on the Company’s behalf, whether the Securities are
convertible as the result of the satisfaction of this condition in the preceding fiscal quarter and shall promptly notify the Company and the Trustee accordingly. The Trustee shall, in turn, notify the Holders in each fiscal quarter but in no event
later than seven (7) days after the beginning of such fiscal quarter. 
 (ii)      during the five Business Day period after any five consecutive Trading Day period (the “Measurement Period”) in
which the Trading Price per $1,000 principal amount of Securities for each day of such Measurement Period was less than 98% of the product of the Closing Price on such date and the Conversion Rate on such date, all as determined by the Trustee. The
Trustee shall have no obligation to determine the Trading Price of Securities unless requested by the Company to do so in writing, and the Company shall have no obligation to make such request unless a Holder provides the Company with reasonable
evidence that the Trading Price per $1,000 principal amount of Securities would be less than 98% of the product of (a) the Conversion Rate of the Securities and (b) the Closing Price at such time, at which time the Company shall instruct
the Trustee to determine the Trading Price of the Securities beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of Securities is greater than or equal to 98% of the product of
(a) the Conversion Rate of the Securities and (b) the Closing Price on such date. If the Trading Price condition set forth above has been met, the Company shall so notify the Holders. If, at any time after the Trading Price condition set
forth above has been met, the Trading Price per $1,000 principal amount of Securities is greater than or equal to 98% of the product of (a) the Conversion Rate of the Securities and (b) the Closing Price on such date, the Company shall so
notify the Holders. 
 (iii)    If the Company elects to distribute to all holders of Common Stock: 
 (A)      rights or warrants entitling them to purchase, for a period expiring within 60
days of the date of issuance, shares of Common Stock at less than the average of the Closing Price for the five consecutive Trading Day period ending on the Trading Day preceding the announcement of such distribution; or 
 (B)      cash, assets, debt securities or rights to purchase the Company’s securities, which distribution has a per share value exceeding 7.5% of the Closing Price on the Trading Day immediately
preceding the announcement of such distribution; 
 then, in either case, the Company will notify the Holders at least 25 Trading Days prior
to the Ex Date for such distribution; provided that if the Company distributes rights pursuant to a stockholder rights agreement, it will notify the holders of the Securities on the business day after the Company is required to give notice generally
to its stockholders pursuant to such stockholder rights agreement if such date is less than 25 Trading Days prior to the date of such distribution. Once the Company has given the notice, Holders may surrender their Securities for conversion at any
time until the earlier of the close of business on the Business Day prior to the ex-dividend date or the Company’s announcement that such distribution will not take place. Notwithstanding the foregoing, a Holder may not convert its Securities
under this Section 7.01(b)(iii) if the Holder participates in such distribution without conversion. 
 (iv)      If the Company is a party to any transaction or an event occurs that constitutes a Fundamental
Change, a Holder may surrender Securities for conversion at any time from and after the date which is ten (10) Trading Days prior to the anticipated effective date of such Fundamental Change until and including the Trading Day prior to the
related Fundamental Change Repurchase Date. The Company shall give notice in writing to all record Holders and the 

  

 28 

 
Trustee of a Fundamental Change no later than ten (10) Trading Days prior to the anticipated effective date of the Fundamental Change that the Company
knows or reasonably should know will occur. If the Company does not know, and should not reasonably know, that a Fundamental Change will occur until a date that is within ten (10) Trading Days before the anticipated effective date of such
Fundamental Change, the Company shall give notice in writing to all record Holders and the Trustee of the Fundamental Change promptly after the Company has knowledge of such Fundamental Change. The Board of Directors shall determine in good faith
the anticipated effective date of the Fundamental Change, and such determination shall be conclusive and binding on the Holders and shall be publicly announced by the Company not later than two Business Days prior to the end of such 10 Trading Day
period. 
 (c)      If a Holder elects to convert its Securities in connection with a Make-Whole Fundamental Change that occurs on or prior to September 15, 2009, then the Conversion Rate of the Securities being
converted by such Holder shall be increased by an additional number of shares of Common Stock (the “Additional Shares”) set forth in Exhibit B; provided that if the Stock Price in such transaction is greater than $60.00 or
less than $18.89 (subject in each case to any increase as described below), no increase in the Conversion Rate shall be made, subject to adjustment in the same manner as set forth in Section 7.05. For the avoidance of doubt, the increases
provided for in this Section 7.01(c) shall only be made with respect to the Securities being converted in connection with such Make-Whole Fundamental Change and shall not be effective as to any Securities not so converted. In addition,
notwithstanding anything herein to the contrary, if a transaction described in clause (iii) or (iv) of the definition of Fundamental Change occurs and such transaction constitutes both (A) a Make-Whole Fundamental Change and
(B) a transaction causing an adjustment to the Conversion Rate pursuant to Section 7.05(c), no adjustment shall be made to the Conversion Rate pursuant to Section 7.05(c) for any Securities converted in connection with such Make-Whole
Fundamental Change. For purposes of this Section 7.01, a conversion shall be deemed to be “in connection” with a Fundamental Change to the extent that such conversion is effected during the time period specified in
Section 7.01(b)(iv) (regardless of whether the provisions of clause (b)(i), (b)(ii) or (b)(iii) of this Section 7.01 shall apply to such conversion). 
 The increase in the Conversion Rate, expressed as a number of Additional Shares to be received per $1,000 principal amount of Securities, will be determined by the Company by reference to the table attached as Exhibit
B hereto, based on the date the Make-Whole Fundamental Change occurs or becomes effective (the “Effective Date”) and the price paid or deemed to be paid per share of Common Stock in the transaction constituting the Make-Whole
Fundamental Change (the “Stock Price”); provided that if a Holder of the Common Stock receives only Cash in connection with a Fundamental Change described in clause (ii) of the definition thereof contained in
Section 5.01(a), the Stock Price shall be the Cash amount paid per share. In all other cases, the Stock Price will be the average of the Closing Price of the Common Stock over the five consecutive Trading Day period ending on the Trading Day
preceding the Effective Date, provided that if the Stock Price is between two Stock Price amounts in the table or the Effective Date is between two Effective Dates in the table, the Company shall determine the increased Conversion Rate by a
straight-line interpolation between the number of Additional Shares set forth for the next higher and next lower Stock Price amounts and the next earliest and next latest Effective Dates, based on a 365 day year, as applicable. If (1) the Stock
Price is greater than $60.00 per share of Common Stock (subject to adjustment in the same manner as set forth in Section 7.05), no Additional Shares will be added to the Conversion Rate, and (2) the Stock Price is less than $18.89 per
share (subject to adjustment in the same manner as set forth in Section 7.05), no Additional Shares will be added to the Conversion Rate. Notwithstanding the foregoing, in no event will the number of Additional Shares exceed 11.10 per
$1,000 principal amount of Securities (subject to adjustment in the same manner as set forth in Section 7.05, including, without limitation, Section 7.05(c) thereof). 
  

 29 

 (d)      If the Company is required to increase the Conversion Rate in connection with a Make-Whole Fundamental Change pursuant to clause (c) above, Securities surrendered for conversion will
be settled as follows (subject in all respects to the provisions set forth in Section 7.13): 
 (i)      If the last day of the applicable Conversion Reference Period related to Securities surrendered for
conversion is prior to the third Scheduled Trading Day preceding the anticipated Effective Date of such Make-Whole Fundamental Change, the Company will settle such conversion as described in Section 7.13 by delivering the amount of
consideration due (as described in Section 7.13, based on the Conversion Rate without regard to the number of Additional Shares to be added to the Conversion Rate as provided in clause (c) above) on the third Trading Day immediately
following the last day of the applicable Conversion Reference Period. In addition, as soon as practicable following the Effective Date of such Make-Whole Fundamental Change, the Company will deliver the increase in such amount of Cash, shares of
Common Stock or a combination of Cash and shares of Common Stock or Reference Property, if any, as the case may be, as if the Conversion Rate had been increased by such number of Additional Shares during the related Conversion Reference Period (and
based upon the relevant Daily Conversion Value during such Conversion Reference Period). If such increased amount results in an increase to the amount of Cash to be paid to Holders, the Company will pay such increase in Cash, and if such increased
settlement amount results in an increase to the amount of Cash, shares of Common Stock or a combination of Cash and share of Common Stock, at the Company’s option, the Company will deliver such increase by delivering Cash, shares of Common
Stock or a combination of Cash and shares of Common Stock or Reference Property based on such increase; and 
 (ii)      If the last day of the applicable Conversion Reference Period related to the Securities surrendered
for conversion is on or following the third Scheduled Trading Day preceding the anticipated effective date of the Make-Whole Fundamental Change, the Company will settle such conversion as described in Section 7.13 (based on the Conversion Rate
as increased by the Additional Shares as provided in clause (c) above) on the later to occur of (A) the Effective Date of the transaction and (B) the third Trading Day immediately following the last day of the applicable Conversion
Reference Period. 
 Section 7.02.  Conversion Procedure. (a) The right of conversion attaching to any Security may be exercised at any time during which conversion is permitted in accordance with Section 7.01 (i) if such
Security is represented by a Global Security, by book-entry transfer to the Conversion Agent through the facilities of the Depositary in accordance with the Applicable Procedures, or (ii) if such Security is represented by a Certificated
Security, by delivery of such Security at the specified office of the Conversion Agent, accompanied, in either case, by: (1) a duly signed and completed conversion notice, in the form as set forth on the reverse of Security attached hereto as
Exhibit A (a “Conversion Notice”); (2) if such Certificated Security has been lost, stolen, destroyed or mutilated, a notice to the Conversion Agent in accordance with Section 2.07 regarding the loss, theft, destruction or
mutilation of the Security; (3) appropriate endorsements and transfer documents if required by the Conversion Agent; and (4) payment of any tax or duty, in accordance with Section 7.03, which may be payable in respect of any transfer
involving the issue or delivery of the Common Stock in the name of a Person other than the Holder of the Security. The date on which the Holder satisfies all of those requirements is the “Conversion Date.” The Securities will be
deemed to be converted immediately prior to the Close of Business on the Conversion Date. The Company shall deliver to the Holder through a Conversion Agent Cash and, if applicable, a certificate for the number of whole shares of Common Stock
issuable upon the conversion (and Cash in lieu of any fractional shares pursuant to Section 7.13(h)) on the applicable date specified for such delivery in Section 7.13(g) hereof. 
  

 30 

 (b)      The person in whose name the Security is registered shall, if shares of Common Stock are issuable upon conversion and if the Company so elects to issue all or any portion of such shares in
lieu of paying Cash, be deemed to be a stockholder of record on the Conversion Date; provided, however, that no surrender of a Security or satisfaction of the other conditions in Section 7.02(b) on any date when the stock transfer
books of the Company shall be closed shall be effective to constitute the person or persons entitled to receive the shares of Common Stock upon such conversion as the record holder or holders of such shares of Common Stock on such date, but such
surrender shall, provided that all such conditions have been satisfied, be effective to constitute the person or persons entitled to receive such shares of Common Stock as the record holder or holders thereof for all purposes at the close of
business on the next succeeding day on which such stock transfer books are open. Upon conversion of a Security, such person shall no longer be a Holder of such Security. No separate payment or adjustment will be made for accrued and unpaid interest
on a converted Security or for dividends or distributions on shares of Common Stock issued upon conversion of a Security. By delivering to the holder the Cash, shares or combination of Cash and shares of Common Stock issuable upon conversion,
together with a cash payment in lieu of any fractional shares, the Company will satisfy its obligation with respect to the conversion of the Securities. Accordingly, any accrued but unpaid interest will be deemed paid in full upon conversion, rather
than cancelled, forfeited or extinguished. 
 (c)      Upon surrender of a Security that is converted in part, the Company shall execute, and the Trustee shall, upon receipt of a Company Order, authenticate and deliver
to the Holder, a new Security equal in principal amount of the unconverted portion of the Security surrendered. 
 Section 7.03.  Taxes on Conversion. If a Holder converts a Security, the Company shall pay any documentary, stamp or
similar issue or transfer taxes or duties relating to the issuance or delivery of shares of Common Stock upon exercise of such conversion rights. However, the Holder shall pay any tax or duty which may be payable relating to any transfer involving
the issuance or delivery of shares of Common Stock in a name other than the Holder’s name. The Conversion Agent may refuse to deliver the certificate representing shares of Common Stock being issued in a name other than the Holder’s name
until the Conversion Agent receives a sum sufficient to pay any tax or duties which will be due because the shares are to be issued in a name other than the Holder’s name. Nothing herein shall preclude any tax withholding required by law or
regulation. 
 Section 7.04.  Company to Provide Stock. (a) The Company shall, prior to the issuance of any Securities hereunder, and from time to time as may be necessary, reserve at all times and keep available, free from preemptive
rights, out of its authorized but unissued Common Stock, a sufficient number of shares of Common Stock deliverable upon conversion of all of the Securities. 
 (b)      All shares of Common Stock that may be issued upon
conversion of the Securities shall be newly issued shares or shares held in the treasury of the Company, shall be duly authorized, validly issued, fully paid and nonassessable and shall be free of any preemptive rights and free of any lien or
adverse claim. 
 (c)      The Company shall comply with all applicable securities laws regulating the offer and delivery of any Common Stock upon conversion of Securities and, if the Common Stock is then listed or quoted on
the NYSE, the Nasdaq or any other United States national or regional securities exchange or other market, shall list or cause to have quoted and keep listed and quoted the shares of Common Stock issuable upon conversion of the Notes to the extent
permitted or required by the rules of such exchange or market; provided, however, that, if the rules of such automated quotation system or exchange permit the Company to defer the listing of such Common Stock until the first conversion
of the Securities into Common Stock in accordance with the provisions of this Indenture, the Company covenants to list such 

  

 31 

 
Common Stock issuable upon conversion of the Securities in accordance with the requirements of such automated quotation system or exchange at such time.

 (d)      Notwithstanding anything herein to the contrary, nothing herein shall give to any Holder any rights as a creditor in respect solely of its right to conversion. 
 Section 7.05.  Adjustment of Conversion Rate. The Conversion Rate shall be adjusted from time to time by the Company if any of the following events occur, except that the Company will not make any adjustment if Holders of
Securities may participate, as a result of holding the Securities, in the transactions described without having to convert their Securities: 
 (a)      If the Company, at any time or from time to time while any of the Securities
are outstanding, issues shares of its Common Stock as a dividend or distribution on shares of Common Stock, or if the Company effects a share split or share combination in respect of the Common Stock, then the Conversion Rate shall be adjusted based
on the following formula: 
  

					
	CR’= CR0 × 	  	  OS’ 
	  	
	  	  OS0
	  	

  

					
			
	where	  		  	
			
	CR0	  	=	  	 the Conversion Rate in effect immediately prior to the Ex Date of such dividend or distribution, or effective date of such subdivision or combination, as
applicable;

			
	CR’	  	=	  	 the Conversion Rate in effect on and after the Ex Date or effective date;

			
	OS0	  	=	  	 the number of shares of Common Stock outstanding immediately prior the Ex Date or effective date; and

			
	OS’	  	=	  	 the number of shares of Common Stock outstanding on and after the Ex Date or effective date.

 Such adjustment shall become effective immediately after 9:00 a.m., New York City time, on the
Business Day following the record date for such dividend or distribution, or the date fixed for determination for such share split or share combination. The Company will not pay any dividend or make any distribution on shares of Common Stock held in
treasury by the Company. If any dividend or distribution of the type described in this Section 7.05(a) is declared but not so paid or made, or the outstanding shares of Common Stock are not subdivided or combined, as the case may be, the Conversion
Rate shall again be adjusted to the Conversion Rate which would then be in effect if such dividend, distribution, subdivision or combination had not been declared. 
 (b)      If the Company, at any time or from time to time while
any of the Securities are outstanding, issues to all holders of its outstanding shares of Common Stock any rights or warrants entitling them for a period of not more than 60 calendar days to subscribe for or purchase shares of Common Stock at a
price per share less than the average of the Closing Price for the five consecutive Trading Day period ending on the Business Day immediately preceding the date of announcement of such issuance, the Conversion Rate shall be adjusted based on the
following formula: 
  

 32 

					
	CR’= CR0 × 	  	  OS0 + X 
	  	
	  	  OS0 + Y
	  	

					
	where	  		  	
			
	CR0	  	=	  	 the Conversion Rate in effect immediately prior to the Ex Date for such issuance;

			
	CR’	  	=	  	 the Conversion Rate in effect on and after the Ex Date for such issuance;

			
	OS0	  	=	  	 the number of shares of Common Stock outstanding on and after the Ex Date for such issuance;

			
	X	  	=	  	 the total number of shares of Common Stock issuable pursuant to such rights or warrants; and

			
	Y	  	=	  	 the number of shares of Common Stock equal to the aggregate price payable to exercise such rights or warrants divided by the average of the Closing Price for
the five consecutive Trading Day period ending on the Business Day immediately preceding the date of announcement of the issuance of such rights or warrants.

 Such adjustment shall be successively made whenever any such rights or warrants are issued and
shall become effective immediately after 9:00 a.m., New York City time, on the Business Day following the record date of such issuance. To the extent that shares of Common Stock are not delivered pursuant to such rights or warrants upon the
expiration or termination of such rights or warrants, the Conversion Rate shall be readjusted to the Conversion Rate which would then be in effect had the adjustments made upon the issuance of such rights or warrants been made on the basis of the
delivery of only the number of shares of Common Stock actually delivered. In the event that such rights or warrants are not so issued, the Conversion Rate shall again be adjusted to be the Conversion Rate which would then be in effect if the
announcement with respect to such rights, warrants or convertible securities had not been made. 
 In determining whether any rights or
warrants entitle the holders to subscribe for or purchase shares of Common Stock at less than the average of the Closing Price for the five consecutive Trading Day period ending on the Business Day immediately preceding the date of announcement of
such issuance, and in determining the aggregate offering price of such shares of Common Stock, there shall be taken into account any consideration received by the Company for such rights or warrants and any amount payable on exercise thereof, the
value of such consideration, if other than Cash, to be determined in good faith by the Board of Directors. 
 (c)      In case the Company shall, by dividend or otherwise, distribute to all holders of its Common Stock
shares of any class of capital stock of the Company (other than Common Stock as covered by Section 7.05(a)), evidences of its Indebtedness or other assets or property of the Company (including securities, but excluding (i) dividends and
distributions and rights or warrants covered by Section 7.05(a), Section 7.05(b) or Section 7.05(e) (for which an adjustment is made to the Conversion Rate) and (ii) cash covered by Section 7.05(d) (any of such shares of
Capital Stock, Indebtedness, or other assets or property hereinafter in this Section 7.05(c) called the “Distributed Property”), then, in each such case the Conversion Rate shall be adjusted based on the following formula:

  

					
	CR’= CR0 × 	  	SP0	  	
	  	  SP0 – FMV
	  	

  

 33 

					
	where	  		  	
			
	CR0	  	=	  	 the Conversion Rate in effect immediately prior to the Ex Date for such distribution;

			
	CR’	  	=	  	 the Conversion Rate in effect on and after the Ex Date for such distribution;

			
	SP0	  	=	  	 the average of the Closing Price over the five consecutive Trading Day period ending on the Trading Day immediately preceding the Ex Date for such distribution;
and

			
	FMV	  	=	  	 the fair market value (as determined by the Company’s Board of Directors) of the shares of capital stock of the Company, evidences of Indebtedness, assets or
property distributed with respect to each outstanding share of Common Stock on the Ex Date for such distribution.

 Such adjustment shall become effective
immediately prior to 9:00 a.m., New York City time, on the Business Day following the date fixed for the determination of stockholders entitled to receive such distribution; provided that if the then fair market value (as so determined) of
the portion of the Distributed Property so distributed applicable to one share of Common Stock is equal to or greater than SP0 as set forth above, in lieu of the foregoing adjustment, adequate provision shall be made so that each Holder shall have the right to receive, for each $1,000 principal amount of Securities upon conversion, the amount of Distributed
Property such holder would have received had such holder owned a number of shares of Common Stock equal to the Conversion Rate on the record date. If such dividend or distribution is not so paid or made, the Conversion Rate shall again be adjusted
to be the Conversion Rate that would then be in effect if such record date had not been fixed. If the Board of Directors determines the fair market value of any distribution for purposes of this Section 7.05(c) by reference to the actual or when
issued trading market for any securities, it shall in doing so consider the prices in such market over the same period used in computing the average of the Closing Price of the Common Stock. 
 With respect to an adjustment pursuant to this Section 7.05(c) where there has been a payment of a dividend or other distribution on the Common
Stock or shares of capital stock of any class or series, or similar equity interest, of or relating to a Subsidiary or other business unit (a “Spin-Off,” and any such dividend or distribution of Common Stock, shares of capital stock
or equity interests being “Spin-Off Securities”), the Conversion Rate in effect immediately before 5:00 p.m., New York City time, on the tenth Trading Day immediately following, and including, the effective date of the Spin-Off
shall be increased based on the following formula: 
  

					
	CR’= CR0 × 	  	  FMV0 + MP0
	  	
	  	  MP0 
	  	

  

					
	where	  		  	
			
	CR0	  	=	  	 the Conversion Rate in effect immediately prior to the Close of Business on the tenth Trading Day immediately following, and including, the effective date of the
Spin-Off;

			
	CR’	  	=	  	 the Conversion Rate in effect from and after the Close of Business on the tenth Trading Day immediately following, and including, the effective date of the
Spin-Off;

  

 34 

					
	FMV0	  	=	  	 the average of the Closing Price of the capital stock or similar equity interest distributed to holders of Common Stock applicable to one share of Common Stock
over the first 10 consecutive Trading Day period after, and including, the effective date of the Spin-Off; and

			
	MP0	  	=	  	 the average of the Closing Price of Common Stock over the first 10 consecutive Trading Day period after, and including, the effective date of the
Spin-Off.

 Such adjustment shall occur at the Close of Business on the 10th Trading Day from, and including,
the effective date of the Spin-Off; provided, however, that the Company may in lieu of the foregoing adjustment elect to make adequate provision so that each Holder of Securities shall have the right to receive upon conversion thereof the
amount of such Spin-Off Securities that such Holder of Securities would have received if such Securities had been converted on the record date with respect to such distribution. 
 Rights or warrants distributed by the Company to all holders of Common Stock entitling the holders thereof to subscribe for, purchase or convert into
shares of the Company’s capital stock (either initially or under certain circumstances), which rights or warrants, until the occurrence of a specified event or events (“Trigger Event”): (x) are deemed to be transferred
with such shares of Common Stock; (y) are not exercisable; and (z) are also issued in respect of future issuances of Common Stock, shall be deemed not to have been distributed for purposes of this Section 7.05(b), (and no adjustment to the
Conversion Rate under this Section 7.05(b), will be required) until the occurrence of the earliest Trigger Event, whereupon such rights or 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 Section 7.05(b). If any such right or warrant, including any such existing rights or warrants distributed prior to the date of this Indenture, are subject to events, upon the occurrence of which such rights
or warrants become exercisable to purchase different securities, evidences of Indebtedness or other assets, then the date of the occurrence of any and each such event shall be deemed to be the date of distribution and record date with respect to new
rights or warrants with such rights (and a termination or expiration of the existing rights or warrants without exercise by any of the holders thereof). In addition, in the event of any distribution (or deemed distribution) of rights or warrants or
any Trigger Event or other event (of the type described in the preceding sentence) with respect thereto that was counted for purposes of calculating a distribution amount for which an adjustment to the Conversion Rate under this Section 7.05(b)
was made, (1) in the case of any such rights 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 though it were a cash distribution, equal to the per share redemption or repurchase price received by a holder or holders of Common Stock with respect to such rights or warrants (assuming
such holder had retained such rights or warrants), made to all holders of Common Stock as of the date of such redemption or repurchase, and (2) in the case of such rights or warrants that shall have expired or been terminated without exercise
by any holders thereof, the Conversion Rate shall be readjusted as if such rights or warrants had not been issued. 
 For purposes of this
Section 7.05(c), Section 7.05(a) and Section 7.05(b), any dividend or distribution to which this Section 7.05(c) is applicable that also includes shares of Common Stock, or rights or warrants to subscribe for or purchase shares
of Common Stock to which Section 7.05(a) or 7.05(b) applies (or both), shall be deemed instead to be (1) a dividend or distribution of the evidences of Indebtedness, assets or shares of capital stock other than such shares of Common Stock
or rights or warrants to which Section 7.05(a) or 7.05(b) applies (and any Conversion Rate adjustment required by this Section 7.05(c) with respect to such dividend or distribution shall then be made) immediately followed by (2) a
dividend or distribution of such shares of Common Stock or such rights or warrants to which Section 7.05(a) or 7.05(b) applies (and any further Conversion Rate adjustment required by Section 

  

 35 

 
7.05(a) and 7.05(b) with respect to such dividend or distribution shall then be made), except (A) the Ex Date of such dividend or distribution shall be
substituted for “the Ex Date,” “the Ex Date or effective date,” “the day following the record date for such dividend or distribution, or the date fixed for determination for such share split or share combination,”
“the Ex Date for such issuance” and “the date fixed for the determination of stockholders entitled to receive such rights and warrants” within the meaning of Section 7.05(a) and Section 7.05(b) and (B) any shares
of Common Stock included in such dividend or distribution shall not be deemed “outstanding immediately prior to the Ex Date or effective date” within the meaning of Section 7.05(a). 
 (d)    If a
cash dividend or distribution is made to all holders of Common Stock (other than (i) in connection with the Company’s liquidation, dissolution or winding up or (ii) distributions described in Section 7.05(e)), the Conversion Rate
shall be adjusted based on the following formula: 
  

					
	CR’= CR0 × 	  	SP0	  	
	  	  SP0 – C
	  	

  

					
	where	  		  	
			
	CR0	  	=	  	 the Conversion Rate in effect at the Close of Business on the Business Day immediately prior to the Ex Date for such dividend or distribution;

			
	CR’	  	=	  	 the Conversion Rate in effect on and after the Ex Date for such distribution;

			
	SP0	  	=	  	 the average Closing Price of the Common Stock for the five consecutive Trading Day period ending on the Trading Day immediately preceding the Ex Date for such
dividend or distribution; and

			
	C	  	=	  	 the amount in cash per share the Company dividends or distributes to holders of Common Stock.

 Such adjustment shall become effective
immediately after 5:00 p.m., New York City time, on the record date for such dividend or distribution; provided that if the portion of the cash so distributed applicable to one share of Common Stock is equal to or greater than SP0 as set forth above, in lieu of the foregoing adjustment, adequate provision shall be made so that each Holder shall have the
right to receive, for each $1,000 principal amount upon conversion, the amount of cash such Holder would have received had such Holder owned a number of shares of Common Stock equal to the Conversion Rate on the record date. If such dividend or
distribution is not so paid or made, the Conversion Rate shall again be adjusted to be the Conversion Rate that would then be in effect if such dividend or distribution had not been declared. 
 For the avoidance of doubt, for purposes of this Section 7.05(d), in the event of any reclassification of the Common Stock, as a result of which the
Securities become convertible into more than one class of Common Stock, if an adjustment to the Conversion Rate is required pursuant to this Section 7.05(d), references in this Section to one share of Common Stock or Closing Price of one share of
Common Stock shall be deemed to refer to a unit or to the price of a unit consisting of the number of shares of each class of Common Stock into which the Securities are then convertible equal to the numbers of shares of such class issued in respect
of one share of Common Stock in such reclassification. The above provisions of this paragraph shall similarly apply to successive reclassifications. 
  

 36 

 (e)    If the Company or any of its Subsidiaries makes a payment in respect of a tender offer or exchange offer for all or any portion of the Common Stock, to the extent that the cash and value of any other
consideration included in the payment per share of Common Stock validly tendered or exchanged exceeds the Closing Price of the Common Stock on the 10th Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to
such tender or exchange offer (as it may be amended), the Conversion Rate shall be increased based on the following formula: 
  

					
	CR’= CR0 × 	  	  AC+(SP’×OS’) 
	  	
	  	  OS0 X SP’
	  	

  

					
	where	  		  	
			
	CR0	  	=	  	 the Conversion Rate in effect immediately before the Close of Business on the expiration date;

			
	CR’	  	=	  	 the Conversion Rate in effect on and after the effective date of the adjustment;

			
	AC	  	=	  	 the aggregate value of all cash and any other consideration (as determined in good faith by the Company’s 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 date such tender or exchange offer expires (including any shares validly tendered and not
withdrawn pursuant to the tender or exchange offer but excluding shares held in treasury);

			
	OS’	  	=	  	 the number of shares of Common Stock outstanding as of the last time tenders or exchanges could have been made pursuant to such tender or exchange offer expires
(not including any shares validly tendered and not withdrawn pursuant to the tender or exchange offer or shares held in treasury); and

			
	SP’	  	=	  	 the average of the Closing Price over the 10 consecutive Trading Day period commencing on the Trading Day next succeeding the date such tender or exchange offer
expires.

 The adjustment to the Conversion Rate under this Section 7.05(e) shall occur on the tenth
Trading Day from, and including, the Trading Day next succeeding the date such tender or exchange offer expires. 
 If the Company is
obligated to repurchase shares pursuant to any such tender or exchange offer, but the Company is permanently prevented by applicable law from effecting any such purchases or all or any portion of such purchases are rescinded, the Conversion Rate
shall again be adjusted to be the Conversion Rate that would then be in effect if such tender or exchange offer had not been made or had only been made in respect of the purchases that had been effected. 
 (f)    For
purposes of this Section 7.05 the term “record date” shall mean, with respect to any dividend, distribution or other transaction or event in which the holders of Common Stock have the right to receive any cash, securities or
other property or in which the Common Stock (or other applicable security) is exchanged for or converted into any combination of cash, securities or other property, the date fixed for determination of stockholders entitled to receive such cash,
securities or other property (whether such date is fixed by the Board of Directors or by statute, contract or otherwise). 
  

 37 

 (g)    If application of the formulas provided in Sections 7.05(a), 7.05(b), 7.05(c), 7.05(d) or 7.05(e) would result in a decrease in the Conversion Rate, no adjustment to the Conversion Rate shall be made
except in the case of a subdivision or split of the Common Stock. 
 (h)    In any case in which this Section 7.05 shall require that an adjustment be made following a record date or Expiration Date, as the case may
be, established for purposes of this Section 7.05, the Company may elect to defer (but only until five Business Days following the filing by the Company with the Trustee of the certificate described in Section 7.10) issuing to the Holder
of any Security converted after such record date or Expiration Date the shares of Common Stock and other capital stock of the Company, evidences of indebtedness or other non-Cash assets or rights or warrants issuable upon such conversion over and
above Cash payable, or the shares of Common Stock and other capital stock of the Company, evidences of indebtedness or other non-Cash assets or rights or warrants issuable, upon such conversion only on the basis of the Conversion Rate prior to
adjustment; and, in lieu of the shares, evidences of indebtedness or other non-Cash assets or rights or warrants the issuance of which, or Cash the payment of which, is so deferred, the Company shall issue or cause its transfer agents to issue due
bills or other appropriate evidence prepared by the Company of the right to receive such shares or Cash, as the case may be. If any distribution in respect of which an adjustment to the Conversion Rate is required to be made as of the record date or
Expiration Date therefor is not thereafter made or paid by the Company for any reason, the Conversion Rate shall be readjusted to the Conversion Rate which would then be in effect if such record date had not been fixed or such effective date or
Expiration Date had not occurred. 
 (i)    In the event of any adjustment to the Conversion Rate pursuant to clauses (b), (c), (d) and (e) above or as the result of or in connection with a Make-Whole Fundamental Change pursuant to
Section 7.01(c) that would or could reasonably be expected to result in the Securities, in the aggregate, becoming convertible into shares of Common Stock in excess of limits established by the NYSE that would require stockholder approval of
the issuances of such shares of Common Stock upon such conversion, the Company will, at its option, either obtain stockholder approval of such issuances or deliver cash in lieu of any shares otherwise deliverable upon conversions in excess of such
limitations (based on the Closing Price of the Common Stock on the Trading Day immediately prior to the date when such shares would otherwise be required to be distributed). 
 (j)    If
one or more events occur requiring an adjustment be made to the Conversion Rate for a particular period, adjustments to the Conversion Rate shall be determined by the Company’s Board of Directors to reflect the combined impact of such
Conversion Rate adjustments, as set out in this Section 7.05, during such period. 
 Section 7.06.  No Adjustment. No adjustment in the Conversion Rate shall be required unless the adjustment would result in a change in the Conversion
Rate of at least 1.00%; provided, however, that any adjustment which by reason of this Section 7.06 is not required to be made shall be carried forward and taken into account in subsequent adjustments and in connection with any
conversion of Securities. All calculations under this Article 7 shall be made to the nearest one-ten thousandth (1/10,000) of a cent or to the nearest one-ten thousandth (1/10,000) of a share, as the case may be. 
 No adjustment in the Conversion Rate need be made for (i) issuances of Common Stock pursuant to any present or future Company plan for reinvestment
of dividends or interest payable on the Company’s Securities or the investment or additional optional amounts thereunder in shares of Common Stock, (ii) upon the issuance of any shares of Common Stock or options or rights to purchase
shares of Common Stock 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 or (iii) upon the issuance of any shares of 

  

 38 

 
Common Stock pursuant to any option, warrant, right or exercisable, exchangeable or convertible security outstanding as of the date the Securities were first
issued. 
 To the extent that the Securities become convertible into the right to receive Cash, interest will not accrue on such Cash.

 No adjustment to the Conversion Rate need be made pursuant to Section 7.05 for a transaction if Holders are permitted to participate
in the transaction without conversion on a basis and with notice that the Board of Directors of the Company determines in good faith to be fair and appropriate in light of the basis and notice on which holders of Common Stock participate in the
transaction. 
 No adjustment to the Conversion Rate need be made for accrued and unpaid interest, including Additional Interest, if any.

 Whenever a provision of the Indenture requires the calculation of an average of the Closing Price or VWAP over a span of multiple days,
the Company will 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 that becomes effective, or any event requiring an adjustment to
the Conversion Rate where the Ex Date of the event occurs, at any time during the period from which the average is to be calculated. 
 Section 7.07.  Stockholder Rights Plans. Upon conversion of the Securities, the Holders
shall receive, in addition to any shares of Common Stock issuable upon such conversion, any associated rights issued under any future stockholder rights plan the Company adopts unless, prior to conversion, the rights have separated from the Common
Stock, expired, terminated or been redeemed or exchanged in accordance with such rights plan, and no adjustment shall be made to the Conversion Rate pursuant to Section 7.05. If the rights have separated from the Common Stock, the Conversion
Rate shall be adjusted at the time of separation as if the Company distributed to all holders of Common Stock, shares of Capital Stock, evidences of Indebtedness or assets as described in Section 7.05(c), subject to readjustment in the event of
the expiration, termination or redemption of such rights. 
 Section 7.08.  Effect of Reclassification, Consolidation, Merger or Sale on Conversion Privilege. If (1) there shall occur (a) any
reclassification of the Company’s Common Stock (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination); (b) a statutory share exchange,
consolidation, merger or combination involving the Company other than a merger in which the Company is the continuing corporation and which does not result in any reclassification of, or change (other than in par value, or from par value to no par
value, or from no par value to par value, or as a result of a subdivision or combination) in, outstanding shares of Common Stock; or (c) a sale or conveyance as an entirety or substantially as an entirety of the property and assets of the
Company, directly or indirectly, to another Person; and (2) pursuant to such reclassification, statutory share exchange, consolidation, merger, combination, sale or conveyance, holders of outstanding shares of Common Stock would be entitled to
receive stock (other than Common Stock), other securities, other property, assets or Cash for such shares of Common Stock (any such event a “Merger Event”), then the Company, or such successor or surviving, purchasing or transferee
Person, as the case may be, shall, as a condition precedent to such Merger Event, execute and deliver to the Trustee a supplemental indenture providing that the right to convert a Security will be changed into a right to convert it into the kind and
amount of shares of stock, other securities or other property or assets (including Cash or any combination thereof) that a holder of a number of shares of Common Stock equal to the Conversion Rate immediately prior to such Merger Event would have
owned or been entitled to receive (the “Reference Property”) upon such transaction (assuming for such purposes that such conversion were settled entirely in Common Stock and without giving effect to any adjustment to the 

  

 39 

 
Conversion Rate with respect to a Make-Whole Fundamental Change) immediately prior to such Merger Event, except that such Holders will not be entitled to an
increase in the Conversion Rate if such Holder does not convert its Securities “in connection with” the relevant Fundamental Change. Appropriate provisions will be made, as determined in good faith by the Board of Directors, to preserve
the net share settlement provisions of the Securities following such Merger Event to the extent feasible. If the Merger Event causes the Common Stock to be converted into the right to receive more than a single type of consideration (determined
based in part upon any form of stockholder election), the Reference Property into which the Securities will be convertible will be deemed to be the weighted average of the types and amounts of consideration received by the holders of Common Stock
that affirmatively make such an election. However, at and after the effective time of the Merger Event, any amount otherwise payable in Cash upon conversion of the Securities will continue to be payable in Cash, and the Daily Conversion Value will
be calculated based on the value of the Reference Property. None of the foregoing provisions shall affect the right of a holder of Securities to convert its Securities in accordance with the provisions of this Article 7 prior to the effective date
of such Merger Event. Such supplemental indenture shall provide for adjustments of the Conversion Rate which shall be as nearly equivalent as may be practicable to the adjustments of the Conversion Rate provided for in this Article 7. The provisions
of this Section 7.08 shall similarly apply to successive Merger Events. 
 Section 7.09.   Other Adjustments. Subject to applicable stock exchange rules and listing standards, the Company shall be entitled to increase the
Conversion Rate by any amount for a period of at least 20 days if the Board of Directors determines that such increase would be in the best interests in the Company, provided the Company has given to Holders at least 15 days’ prior notice, in
accordance with Section 16.02, of any such increase in the Conversion Rate. Subject to applicable stock exchange rules and listing standards, the Company shall be entitled to increase the Conversion Rate, in addition to the events requiring an
increase in the Conversion Rate pursuant to Section 7.05, as it in its discretion shall determine to be advisable in order to avoid or diminish any tax to stockholders in connection with any stock dividends, subdivisions of shares,
distributions of rights to purchase stock or securities or distributions of securities convertible into or exchangeable for stock hereafter made by the Company to its stockholders. 
 Section 7.10.  Notice of Adjustment. Whenever the Conversion Rate or conversion privilege is adjusted, the Company shall promptly mail to Securityholders a notice of the adjustment in accordance with Section 16.02, and file
with the Trustee an Officers’ Certificate briefly stating the Conversion Rate, the facts requiring the adjustment and the manner of computing it. Unless and until the Trustee shall receive an Officers’ Certificate setting forth an
adjustment of the Conversion Rate, the Trustee may assume without inquiry that the Conversion Rate has not been adjusted and that the last Conversion Rate of which it has knowledge remains in effect. 
 Section 7.11.  [Reserved]. 
 Section 7.12.  Trustee’s Disclaimer. The Trustee shall have no duty to determine when an adjustment under this Article 7 should be made, how it should be made or what such adjustment should
be, but may accept as conclusive evidence of that fact or the correctness of any such adjustment set forth in, and shall be protected in relying upon, an Officers’ Certificate, including the Officers’ Certificate with respect thereto which
the Company is obligated to file with the Trustee pursuant to Section 7.10. The Trustee makes no representation as to the validity or value of any securities or assets issued upon conversion of Securities, and the Trustee shall not be
responsible for the Company’s failure to comply with any provisions of this Article 7. 
 The Trustee shall not be under any
responsibility to determine the correctness of any provisions contained in any supplemental indenture executed pursuant to Section 7.08, but may accept as conclusive 

  

 40 

 
evidence of the correctness thereof, and shall be fully protected in relying upon, the Officers’ Certificate and Opinion of Counsel with respect thereto
which the Company is obligated to file with the Trustee pursuant to Section 7.08. 
 Section 7.13.  Settlement Upon Conversion. (a) Upon any conversion of any Security, the Company shall deliver to converting Holders, in
respect of each $1,000 Principal Amount of Securities being converted, a “Settlement Amount” equal to the sum of the Daily Settlement Amounts for each of the 20 Trading Days during the Conversion Reference Period for such Security.

 (b)      The “Daily Settlement Amount” for each of the 20 Trading Days during the Conversion Reference Period shall consist of: 
 (i)      Cash equal to the lesser of (x) $50 and (y) the Daily Conversion Value, and 
 (ii)      to the extent the Daily Conversion Value exceeds $50, a
number of shares of Common Stock (the “Daily Share Amount”) equal to (x) the difference between the Daily Conversion Value and $50, divided by (y) the Daily VWAP for such day; 
 (c)      Upon conversion, Holders shall not receive any separate cash payment for accrued and unpaid Interest, unless such conversion occurs between a Record Date and the Interest Payment Date to which it
relates. 
 (d)      If Securities are converted after 5:00 p.m., New York City time, on a Record Date for the payment of interest, Holders of such Securities at 5:00 p.m., New York City time, on such Record Date will
receive the interest payable on such Securities on the corresponding Interest Payment Date notwithstanding the conversion. Securities surrendered for conversion during the period from 5:00 p.m., New York City time, on any Record Date to 9:00 a.m.,
New York City time, on the immediately following Interest Payment Date, must be accompanied by funds equal to the amount of interest payable on the Securities so converted; provided that no such payment need be made (i) if the Company
has specified a Fundamental Change Purchase Date in respect of the Securities that is after a Record Date and on or prior to the corresponding Interest Payment Date; (ii) in respect of any conversion which occurs after the Record Date for the
interest payment due on September 15, 2009 or (iii) to the extent of any overdue interest, if any such amount exists at the time of conversion with respect to such Security. 
 (e)      On any day prior to the first Trading Day of the applicable Conversion Reference Period, the Company may specify by notice to the Trustee and the converting Holder or Holders, a percentage of the
Daily Share Amount that will be settled in cash (the “Cash Percentage”). If the Company elects to specify a Cash Percentage then, in lieu of all or a portion of the Daily Share Amount for each Trading Day in the applicable
Conversion Reference Period, the Company shall deliver cash equal to the product of (i) the Cash Percentage, (ii) the Daily Share Amount for such Trading Day and (iii) the Daily VWAP for such Trading Day. The number of shares of
Common Stock in respect of the Daily Share Amount for each Trading Day in the applicable Conversion Reference Period will equal the product of (x) the Daily Share Amount and (y) 100% minus the Cash Percentage. If the Company does not
specify a Cash Percentage by the start of the applicable Conversion Reference Period, the Company shall settle 100% of the Daily Share Amount for each Trading Day in the applicable Conversion Reference Period with shares of Common Stock;
provided, however, that (i) the Company shall pay cash in lieu of fractional shares otherwise issuable upon conversion of such Security and (ii) if conversion of the Securities is in connection with a transaction described in
Section 7.08 pursuant to which the Securities become convertible into cash and Reference Property, the Company shall settle such conversion in cash and Reference Property. 
  

 41 

 (f)      The Company shall determine the Daily Conversion Value and the number of shares of Common Stock, if any, to be issued upon conversion of the Securities at the end of the Conversion
Reference Period. 
 (g)      Upon conversion of any Securities, the Company will pay the Cash and deliver the shares of Common Stock, as applicable, as promptly as practicable after expiration of the Conversion Reference
Period, but in no event later than the third Business Day after such expiration. 
 (h)      The Company shall not issue fractional shares of Common Stock upon conversion of Securities. If multiple Securities shall be
surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion shall be computed on the basis of the aggregate Principal Amount of the Securities (or specified portions thereof to the
extent permitted hereby) so surrendered. If any fractional share of stock would be issuable upon the conversion of any Securities, the Company shall make payment therefor in cash equal to the fraction of a share of Common Stock otherwise issuable
multiplied by the Daily VWAP for the final Trading Day of the applicable Conversion Reference Period. 
 (i)      Except as otherwise provided in this Indenture, no payment or adjustments in respect of payments of interest on Securities
surrendered for conversion or any dividends or distributions on the Common Stock issued upon conversion shall be made upon the conversion of any Securities. 
 (j)      For the purposes of Section 7.13, in the event that
any of Daily Settlement Amount, Daily Conversion Value, Daily Share Amount or VWAP is not calculable for all portions of the Conversion Reference Period, the Company’s Board of Directors shall in good faith determine the values necessary to
calculate the Daily Settlement Amount, Daily Conversion Value, Daily Share Amount and VWAP, as applicable. 
  
 ARTICLE 8 
 [RESERVED] 
  
 ARTICLE 9 
 COVENANTS 
 Section 9.01.  Payment of Securities. The Company shall promptly make all payments in respect of the Securities on the dates and in the manner
provided in the Securities and this Indenture, including payments of Cash and if applicable, shares of Common Stock due upon conversion. The principal amount and Fundamental Change Purchase Price and accrued and unpaid interest shall be considered
paid on the date it is due if the Paying Agent holds by 10:00 a.m., New York City time, on such date, in accordance with this Indenture, Cash designated and sufficient for the payment of all such amounts then due. The Company shall, to the fullest
extent permitted by law, pay interest on overdue principal and overdue installments of interest at the rate borne by the Securities per annum. Unless explicitly excluded, all references in this Indenture or the Securities to interest shall be deemed
to include Additional Interest, if any, payable pursuant to the Registration Rights Agreement. 
 The Company shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue amounts from time to time on demand at the rate then in effect; 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 

  

 42 

 
the same rate to the extent lawful. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. 
 Each installment of accrued and unpaid interest and Additional Interest, if any, on the Securities due on any Interest Payment Date may be paid by
mailing checks for the amount payable to or upon the written order of the Securityholders entitled thereto as they shall appear on the registry books of the Company, provided that, with respect to any Securityholder with an aggregate
principal amount in excess of $2,000,000, at the application of such Holder in writing to the Security Registrar not later than the relevant record date accrued and unpaid interest and Additional Interest, if any, on such Holder’s Securities
shall be paid by wire transfer in immediately available funds to such Holder’s account in the United States supplied by such Holder from time to time to the Trustee and Paying Agent (if different from Trustee); provided further that
payment of accrued and unpaid interest and Additional Interest, if any, made to the Depositary shall be paid by wire transfer in immediately available funds in accordance with such wire transfer instructions and other procedures provided by the
Depositary from time to time. 
 Section 9.02.  Reports and Certain Information. (a) The Company shall file with the Trustee, within 15 days after it files them with the SEC, copies of its annual report and the information,
documents and other reports which the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. The Company shall comply with the provisions of TIA Section 314(a), whether or not the Company is required
to file reports with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. Notwithstanding anything to the contrary herein, the Trustee shall have no duty to review such documents for purposes of determining compliance with any
provisions of this Indenture or any applicable law. 
 (b)      At any time when the Securities are Restricted Securities, and the Company is not subject to, or is not in compliance with, Section 13 or 15(d) of the Exchange
Act, upon the request of a Holder or the holder of shares of Common Stock issued upon conversion of Securities, the Company shall promptly furnish or cause to be furnished Rule 144A Information (as defined below) to such Holder or such holder of
shares of Common Stock issued upon conversion of Securities, or to a prospective purchaser of any such security designated by any such Holder or holder, as the case may be, to the extent required to permit compliance by such Holder or holder with
Rule 144A under the Securities Act in connection with the resale of any such security. “Rule 144A Information” shall mean such information as is specified pursuant to Rule 144A(d)(4) under the Securities Act or any successor
provision. 
 (c)      The Company shall notify the Trustee of any changes to its fiscal year. 
 Section 9.03.  Compliance Certificates. The Company shall deliver to the Trustee, within 90 days after the end
of each fiscal year of the Company ending after the date hereof, an Officers’ Certificate signed by the principal executive officer, principal financial officer or principal accounting officer of the Company and at least one other Officer of
the Company, as to his or her knowledge of the Company’s compliance with all terms, conditions and covenants under this Indenture (without regard to any period of grace or requirement of notice provided hereunder) and, if the Company shall be
in default, specifying all such defaults and the nature and status thereof of which he or she may have knowledge. 
 Section 9.04.  Maintenance of Corporate Existence. The Company shall do or cause to be done all things
necessary to preserve and keep in full force and effect its corporate existence or, following any consolidation, merger, conveyance, transfer or lease in accordance with Section 10.01, its legal existence as a Person permitted to be the
resulting, surviving or transferee Person in accordance with Section 10.01. 
 Section 9.05.  Stay, Extension and Usury Laws. The Company covenants, to the extent it may lawfully do so, that it shall not at any time insist upon,
plead or in any manner whatsoever claim or take the benefit or advantage of any stay, extension or usury law or other law which would prohibit or forgive 

  

 43 

 
the Company from paying all or any portion of the principal amount or Fundamental Change Purchase Price in respect of Securities, or any interest (including
any Additional Interest) on the Securities as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture, and the Company, to the extent it may lawfully do so,
hereby expressly waives all benefit or advantage of any such law and covenants that it shall not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee or any Agent, but shall suffer and permit
the execution of every such power as though no such law had been enacted. 
 Section 9.06.  Maintenance of Office or Agency of the Trustee, Registrar, Paying Agent and Conversion Agent. The Company shall maintain an
office or agency of the Trustee, Registrar, Paying Agent and Conversion Agent in the United States where Securities may be presented or surrendered for payment, where Securities may be surrendered for registration of transfer, exchange, purchase or
conversion and where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Company hereby designates the Corporate Trust Office as one such office or agency for all of the aforesaid purposes.
The Company shall give prompt written notice to the Trustee of the location, and of any change in the location, of any such office or agency (other than a change in the location of the Corporate Trust Office of the Trustee). If at any time the
Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the address of the Trustee set forth in
Section 16.02. 
 Section 9.07.  Notice of Default. In the event that any Default or Event of Default shall occur, the Company shall give prompt (and in any event within thirty (30) days after the Company becomes aware of such
Default or Event of Default) written notice by an Officers’ Certificate of such Default or Event of Default, and any remedial action proposed to be taken, to the Trustee. 
 Section 9.08.  Additional Interest Notice. In the event that the Company is required to pay Additional Interest to the Securityholders pursuant to the Registration Rights Agreement, the Company will provide written notice
(“Additional Interest Notice”) to the Trustee of its obligation to pay Additional Interest no later than fifteen (15) days prior to the proposed payment date for the Additional Interest, and the Additional Interest Notice shall
set forth the amount of Additional Interest to be paid by the Company on such payment date. The Trustee shall not at any time be under any duty or responsibility to any Securityholders to determine the Additional Interest, or with respect to the
nature, extent or calculation of the amount of Additional Interest when made, or with respect to the method employed in such calculation of the Additional Interest. 
  
 ARTICLE 10 
 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

 Section 10.01.  Company May Consolidate, etc., Only on Certain Terms. The Company shall not consolidate with or merge into any other Person or convey, transfer or lease all or substantially all of the Company’s properties and
assets to any successor Person, unless: 
  

	 	(a)	either: 

 (i)    the resulting, surviving or transferee Person is the Company; or

  

 44 

 (ii)      the resulting, surviving or transferee Person is a corporation organized and validly existing under the laws of the United States of America, any State thereof or
the District of Columbia and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form reasonably satisfactory to the Trustee, all of the obligations of the Company under the Securities and this
Indenture; 
 (b)      immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing; and 
 (c)      the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel (upon which the Trustee may conclusively rely), each stating that such consolidation, merger,
conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction
have been complied with. 
 Section 10.02.  Successor Substituted. Upon any consolidation of the Company with, or merger of the Company into, any other Person or any conveyance, transfer or lease of all or substantially all of
the properties and assets of the Company in accordance with Section 10.01, the successor Person formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease is made shall succeed to, and be
substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and thereafter, except in the case of a lease, the predecessor Person
shall be relieved of all obligations and covenants under this Indenture and the Securities. 
  
 ARTICLE 11 
 DEFAULT AND REMEDIES 
 Section 11.01.  Events of Default. An “Event of Default” shall occur if: 
 (a)      the Company defaults in the payment of any principal of any of the Securities when the same becomes
due and payable (whether at maturity, on a Fundamental Change Purchase Date or otherwise); 
 (b)      the Company defaults in the payment of any accrued and unpaid interest (including Additional Interest, if any) when due and payable,
and such default continues for a period of 30 days; 
 (c)      the Company fails to deliver all Cash and any shares of Common Stock when such Cash and Common Stock, if any, are required to be delivered upon conversion of any
Securities, and such default continues for 5 days; 
 (d)      the Company fails to provide the Fundamental Change Company Notice when required by this Indenture; 
 (e)      the Company fails to comply with Section 10.01 of this Agreement; 
 (f)      the Company fails to comply with any of its other agreements contained in the Securities or in this
Indenture (other than a covenant or warranty or default whose performance or breach is elsewhere in this Section 11.01 specifically provided for) and such failure continues for 60 days after receipt by the Company of a Notice of Default,
provided, however, that the Company shall have 120 days after receipt 

  

 45 

 
of a Notice of Default to remedy, or receive a waiver for, any failure to comply with the Company’s obligation to file annual, quarterly and current
reports in accordance with this Indenture or to comply with the requirements of Section 314(a)(1) of the Trust Indenture Act so long as the Company is attempting to cure such failure as promptly as reasonably practicable; 
 (g)      (i) the Company fails to make any payment by the end of any applicable grace period after maturity of principal or accrued interest with respect to any obligations (other than nonrecourse
obligations) of the Company for borrowed money or evidenced by bonds, notes or similar instruments (“Indebtedness”), where the amount of such unpaid and due principal and/or accrued interest is in an aggregate amount in excess of
$50.0 million, or (ii) the acceleration of principal or accrued interest with respect to Indebtedness, where the amount of such accelerated principal and interest is in an amount in excess of $50.0 million because of a default with respect to
such Indebtedness, in any such case of (i) or (ii), without such Indebtedness having been paid or discharged or such acceleration having been cured, waived, rescinded or annulled within a period of 30 days after receipt by the Company of a
Notice of Default. However, if any such failure or acceleration referred to in (i) or (ii) of this clause (g) shall cease or be cured, waived, rescinded or annulled, then the event of default by reason thereof shall be deemed not to
have occurred and any acceleration as a result of the related event of default shall be automatically rescinded; 
 (h)      the Company, or any Significant Subsidiary pursuant to or within the meaning of any Bankruptcy Law:
commences a voluntary case or proceeding; consents to the entry of an order for relief against it in an involuntary case or proceeding or the commencement of any case against it; consents to the appointment of a Custodian of it or for any
substantial part of its property; or makes a general assignment for the benefit of its creditors; or 
 (i)      a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: is for relief against the Company
or a Significant Subsidiary in an involuntary case or proceeding; appoints a Custodian of the Company or a Significant Subsidiary for any substantial part of the property of the Company or such Significant Subsidiary; or orders the winding up or
liquidation of the Company or a Significant Subsidiary; and in each case of this subclause (i) the order or decree remains unstayed and in effect for 60 consecutive days. 
 The term “Bankruptcy Law” means Title 11 of the United States Code (or any successor thereto) or any similar federal or state law for
the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator, sequestrator or similar official under any Bankruptcy Law. 
 A default under clause (f) or (g) above is not an Event of Default until the Trustee notifies the Company, or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding
notify the Company and the Trustee, in writing of the Default, and the Company does not cure the Default (and such Default is not waived) within the time period specified in clauses (f) or (g) above, as applicable, after actual receipt of
such notice. The notice given pursuant to this Section 11.01 must specify the Default, demand that it be remedied and state that the notice is a “Notice of Default.” When any Default under this Section 11.01 is cured in
accordance herewith, it shall cease to be a Default. 
 The Trustee shall not be charged with knowledge of any Event of Default unless
written notice thereof shall have been given to a Trust Officer at the Corporate Trust Office of the Trustee by the Company (including, without limitation, pursuant to Section 9.03), a Paying Agent, any Holder or any agent of any Holder, which
notice references the Securities and this Indenture. 
 Section 11.02.  Acceleration. If an Event of Default (other than an Event of Default with respect to the Company specified in clauses (h) or
(i) of Section 11.01) occurs and is continuing, the Trustee may, 

  

 46 

 
by notice to the Company, or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding may, by notice to the Company and
the Trustee, declare all unpaid principal of, plus interest (including Additional Interest, if any) accrued and unpaid through the date of such declaration on, all the Securities then outstanding to be due and payable upon any such declaration, and
the same shall thereupon become and be immediately due and payable. 
 If an Event of Default with respect to the Company specified in clause
(h) or (i) of Section 11.01 occurs, all unpaid principal of, plus interest (including Additional Interest, if any) accrued and unpaid through the date of such default on, all the Securities then outstanding shall ipso facto become and
be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. 
 The Holders of a majority in
aggregate principal amount of the Securities then outstanding or the Holders originally causing the acceleration by notice to the Trustee may rescind an acceleration of Securities and its consequences before a judgment or decree for the payment of
money has been obtained by the Trustee if (a) the rescission would not conflict with any existing order or decree, (b) all existing Events of Default, other than the nonpayment of the principal of, plus accrued and unpaid interest on, the
Securities that has become due solely by such declaration of acceleration, have been cured or waived and (c) all payments due to the Trustee and any predecessor Trustee under Section 12.06 have been made. No such rescission shall affect
any subsequent Default or impair any right consequent thereto. 
 Section 11.03. Other Remedies. If an Event of Default occurs and is continuing, the Trustee may, but shall not be obligated to, pursue any available remedy by
proceeding at law or in equity to collect the payment of the principal of or accrued and unpaid interest on the Securities, the payment of Cash and, if applicable, shares of Common Stock upon conversion or to enforce the performance of any provision
of the Securities or this Indenture. 
 The Trustee may maintain a proceeding even if it does not possess any of the Securities or does not
produce any of them in the proceeding. A delay or omission by the Trustee or any Securityholder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the
Event of Default. No remedy is exclusive of any other remedy. All available remedies are cumulative to the extent permitted by law. 
 Section 11.04.  Waiver of Defaults and Events of Default. Subject to Section 11.07
and 13.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may waive an existing or future Default or Event of Default and its consequence, except a Default or Event of Default in
the payment of the principal of, or any interest (including Additional Interest, if any) on any Security, or the payment of any applicable Fundamental Change Purchase Price, or a failure by the Company to deliver Cash and, if applicable, shares of
Common Stock upon conversion in accordance with Article 7 or any Default or Event of Default in respect of any provision of this Indenture or the Securities that, under Section 13.02, cannot be modified or amended without the consent of the
Holders of each outstanding Security. When a Default or Event of Default is waived, it is deemed cured, but no such waiver shall extend to any subsequent or other Default or impair any consequent right. This Section 11.04 shall be in lieu of
Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) is hereby expressly excluded from this Indenture, as permitted by the TIA. 
 Section 11.05.  Control by Majority. The Holders of a majority in aggregate principal amount of
the Securities then outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it under this Indenture. However, the Trustee may refuse to
follow any direction that conflicts with law or this Indenture, that the Trustee determines may be unduly prejudicial to the rights of another Holder or the Trustee, or that may 

  

 47 

 
involve the Trustee in personal liability unless the Trustee is offered security or indemnity reasonably satisfactory to it; provided that the Trustee
may take any other action deemed proper by the Trustee which is not inconsistent with such direction. This Section 11.05 shall be in lieu of Section 316(a)(1)(A) of the TIA and such Section 316(a)(1)(A) is hereby expressly excluded
from this Indenture, as permitted by the TIA. 
 Section 11.06.  Limitations on Suits. Subject to Section 11.07, a Holder of a Security may not pursue any remedy with respect to this Indenture or the Securities unless: 
 (a)      the Holder gives to the Trustee written notice of a continuing Event of Default; 
 (b)      the Holders of at least 25% in aggregate principal amount of the then
outstanding Securities make a written request to the Trustee to pursue the remedy; 
 (c)      such Holder or Holders offer to the Trustee security or indemnity reasonably satisfactory to the Trustee against any loss, liability
or expense; 
 (d)      the Trustee does not comply with the request within 60 days after receipt of the notice, request and the offer of security or indemnity; and 
 (e)      no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in aggregate principal amount of the Securities then
outstanding. 
 A Securityholder may not use this Indenture to prejudice the rights of another Securityholder or to obtain a preference or
priority over such other Securityholder. 
 Section 11.07.  Rights of Holders to Receive Payment and to Convert. Notwithstanding any other provision of this Indenture, the right of any Holder of a Security to receive payment in Cash of the
principal amount, Fundamental Change Purchase Price or interest (including Additional Interest, if any) on any Security, on or after the respective due dates expressed in the Security and this Indenture, receive payment in Cash and, if applicable,
shares of Common Stock upon conversion in accordance with Article 7 and to bring suit for the enforcement of any such payment on or after such respective dates or the right to convert, is absolute and unconditional and shall not be impaired or
affected without the consent of the Holder. 
 Section 11.08.  Collection Suit by Trustee. If an Event of Default in the payment of principal or interest or Additional Interest specified in clause (a) or (b) of Section 11.01
occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company or another obligor on the Securities for the whole amount owing with respect to the Securities and the amounts provided
for in Section 12.06. 
 Section 11.09.  Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee
(including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings relative to the Company (or any other obligor on the Securities),
its creditors or its property and shall be entitled and empowered to collect and receive any money or other property payable or deliverable on any such claims and to distribute the same, and any Custodian in any such judicial proceeding is hereby
authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the 

  

 48 

 
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under
Section 12.06, and to the extent that such payment of the reasonable compensation, expenses, disbursements and advances in any such proceedings shall be denied for any reason, payment of the same shall be secured by a lien on, and shall be paid
out of, any and all distributions, dividends, money, securities and other property which the Holders may be entitled to receive in such proceedings, whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing
herein contained shall be deemed to authorize the Trustee to authorize or consent to or, on behalf of any Holder, to authorize, accept or adopt any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights
of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 Section 11.10.  Priorities. Any money or property collected by the Trustee pursuant to this Article 11, and after an
Event of Default, any money or other property distributable in respect of the Company’s obligations under this Indenture shall be paid out in the following order: 
 First, to the Trustee (including any predecessor Trustee) for amounts due under Section 12.06; 
 Second, to Securityholders for amounts due and unpaid on the Securities for the principal amount, interest (including Additional Interest, if any), the Fundamental Change Purchase Price, amounts due upon conversion (including amounts
resulting from a Makewhole Fundamental Change), as the case may be, ratably, without preference or priority of any kind, according to such amounts due and payable on the Securities; and 
 Third, the balance, if any, to the Company. 
 The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 11.10. At least 15 days before such record date, the Trustee shall mail to each Holder and the Company a notice that states the
record date, the payment date and the amount to be paid. 
 Section 11.11.  Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee
for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs,
including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 11.11 does not apply to a suit
made by the Trustee, a suit by a Holder pursuant to Section 11.07, or a suit by Holders of more than 10% in aggregate principal amount of the Securities then outstanding. 
 Section 11.12.  Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any Security to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or
constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article 11 or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by
the Trustee or by the Holders, as the case may be. 
  

 49 

 ARTICLE 12 
 TRUSTEE 
 Section 12.01.  Certain Duties and Responsibilities of Trustee. (a) In case an Event of Default with respect to the Securities has occurred (that
has not been cured or waived), the Trustee shall exercise with respect to the Securities such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or
use under the circumstances in the conduct of his or her own affairs. 
 (b)      Prior to the occurrence of an Event of Default with respect to the Securities and after the curing or waiving of all such Events of
Default with respect to the Securities that may have occurred: 
 (i)      the duties and obligations of the Trustee shall with respect to the Securities be determined solely by the express provisions of this
Indenture, and the Trustee shall not be liable with respect to the Securities except for the performance of such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this
Indenture against the Trustee; and 
 (ii)      in the absence of bad faith on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions
expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions that by any provision hereof are specifically required to be
furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform on their face to the requirements of this Indenture (but need not confirm or investigate the accuracy of any mathematical
calculations or other facts stated therein). 
 (c)      No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own
willful misconduct, except that: 
 (i)      this subsection shall not be construed to limit the effect of Section 12.01(b); 
 (ii)      the Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer or Trust Officers, unless it shall be proved that the Trustee was negligent in ascertaining the
pertinent facts; 
 (iii)      the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of not less than a majority in
principal amount of the Securities at the time Outstanding (determined as provided in Section 2.08) relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power
conferred upon the Trustee under this Indenture with respect to the Securities; and 
 (iv)      none of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise
incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if there is reasonable ground for believing that the repayment of such funds or liability is not reasonably assured to it
under the terms of this Indenture or adequate indemnity against such risk is not reasonably assured to it. 
  

 50 

 (d)      Whether or not expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability or affording protection to the Trustee (in any capacity,
including Paying Agent, Registrar or Conversion Agent) shall be subject to the provisions of this Section. 
 Section 12.02.  Certain Rights of Trustee. Except as otherwise provided in Section 12.01: 
 (a)      The Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request,
consent, order, approval, bond, security or other paper or document (whether in original or facsimile form) believed by it in good faith to be genuine and to have been signed or presented by the proper party or parties. The Trustee need not
investigate any fact or matter stated in any such document; 
 (b)      Any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a resolution of the Company’s Board of Directors or
an instrument signed in the name of the Company, by one or more Officers thereof (unless other evidence in respect thereof is specifically prescribed herein); 
 (c)      Before the Trustee acts or refrains from acting, it may
require an Officers’ Certificate or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel. The Trustee may
consult with counsel of its own selection and the advice of such counsel and Opinions of Counsel with respect to legal matters relating to this Indenture and the Securities shall be full and complete authorization and protection from liability in
respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 
 (d)      The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this
Indenture at the request, order or direction of any of the Securityholders, pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee security or indemnity reasonably satisfactory to it against the
costs, expenses and liabilities that may be incurred therein or thereby; 
 (e)      The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith and believed by it to be authorized
or within the discretion or rights or powers conferred upon it by this Indenture; 
 (f)      The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, approval, bond, security, or other papers or documents, but the Trustee, in its discretion, may make even further inquiry or investigation into such facts or matters as it may see fit;
and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney at the sole cost of the Company and shall incur no
liability or additional liability of any kind by reason of such inquiry or investigation; 
 (g)      The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents
or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 
 (h)      The Trustee shall not be deemed to have knowledge or be
charged with knowledge of an Event of Default except (i) if the Trustee is acting as Paying Agent, any Default or Event of Default 

  

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occurring pursuant to Sections 9.01, 11.01(a) or 11.01(b) and (i) any Default or Event of Default of which the Trustee shall have received written
notification which references the Securities and this Indenture or of which a Trust Officer shall have obtained actual knowledge. Delivery of reports, information and documents to the Trustee under Section 9.02 is for informational purposes
only and the Trustee’s receipt of the foregoing 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, except as otherwise provided herein); 
 (j)      The rights, privileges, protections, immunities and benefits given to the
Trustee pursuant hereto, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other person employed by the Trustee to
act hereunder; 
 (k)      The permissive right of the Trustee to take or refrain from taking any actions enumerated in this Indenture shall not be construed as a duty; 
 (l)      The Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions
pursuant to this Indenture, which Officers’ Certificate may be signed by any person authorized to sign an Officers’ Certificate, including any person specified as so authorized in any such certificate previously delivered and not
superseded; 
 (m)      Anything in this Indenture notwithstanding, in no event shall the Trustee be liable for special, indirect, punitive or consequential loss or damage of any kind whatsoever (including but not limited
to loss of profit), even if the Trustee has been advised as to the likelihood of such loss or damage and regardless of the form of action; and 
 (n)      The Trustee shall not be responsible or liable for any failure or delay in the
performance of its obligations under this Indenture arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including, without limitation, acts of God; earthquakes; fire; flood; terrorism; wars and other
military disturbances; sabotage; epidemics; riots; interruptions; loss or malfunctions of utilities, computer (hardware or software) or communication services; accidents; labor disputes; acts of civil or military authority and governmental action.

 Section 12.03.  Trustee Not Responsible for Recitals or Issuance or Securities. (a) The recitals contained herein and in the Securities shall be taken as the statements of the Company, and the Trustee assumes no
responsibility for the correctness of the same. 
 (b)      The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. 
 (c)      The Trustee or any Authorized Agent shall not be accountable for the use or application by the Company of any of the Securities or of the proceeds of such Securities, or for the use or application
of any moneys paid over by the Trustee in accordance with any provision of this Indenture or established pursuant to Section 2.01, or for the use or application of any moneys received by any Paying Agent other than the Trustee. 
 Section 12.04.  May Hold Securities. The Trustee or any Paying Agent or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to 

  

 52 

 
Section 12.16, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Paying Agent or Security Registrar.

 Section 12.05.  Moneys Held in Trust. Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were
received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any moneys received by it hereunder except such as it may agree in writing with the Company to pay
thereon. 
 Section 12.06.  Compensation and Reimbursement. (a) The Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled to, such compensation (which shall not be limited by any provision of law in
regard to the compensation of a trustee of an express trust), as the Company and the Trustee may from time to time agree in writing for all services rendered by it in the execution of the trusts hereby created and in the exercise and performance of
any of the powers and duties hereunder of the Trustee, and, except as otherwise expressly provided herein, the Company shall pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by
the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of all Persons not regularly in its employ) except any such expense, disbursement or
advance as may arise from the Trustee’s gross negligence, bad faith or willful misconduct. The Company covenants and agrees to indemnify the Trustee (and its officers, agents, directors, stockholders and employees) for, and to hold it harmless
against, any loss, liability or expense (including, without limitation, reasonable attorney’s fees and expenses) incurred without gross negligence or bad faith or willful misconduct on the part of the Trustee and arising out of or in connection
with the acceptance or administration of this trust, including the reasonable costs and expenses of defending itself against any claim of liability in the premises. 
 (b)      The obligations of the Company under this Section to
compensate and indemnify the Trustee and to pay or reimburse the Trustee for reasonable expenses, disbursements and advances shall constitute additional indebtedness hereunder. Such additional indebtedness shall be secured by a lien prior to that of
the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the Holders. 
 (c)      When the Trustee incurs expenses or renders services after an Event of Default
specified in Section 11.01(h) or (i) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. 
 (d)      For the purposes of this Section 12.06, the “Trustee” shall include any predecessor Trustee; provided, however, that the gross negligence, bad faith or willful
misconduct of any Trustee or other indemnified party hereunder shall not affect the rights of any other Trustee hereunder. 
 (e)      The provisions of this Section shall survive the discharge of this Indenture and resignation or
removal of the Trustee. 
 Section 12.07.  Reliance on Officers’ Certificate. Except as otherwise provided in Section 12.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary or
desirable that a matter be proved or established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of bad faith on the
part of the Trustee, be deemed to be conclusively proved and established by an Officers’ Certificate or Opinion of Counsel delivered to the Trustee and such certificate, in the absence of bad faith on the part of the Trustee, shall be full
warrant to the Trustee 

  

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for any action taken, suffered or omitted to be taken by it under the provisions of this Indenture upon the faith thereof. 
 Section 12.08.
Disqualification: Conflicting Interests. If the Trustee has or shall acquire any “conflicting interest” within the meaning of Section 310(b) of the TIA, the Trustee and the Company shall in all respects comply with the provisions
of Section 310(b) of the TIA. 
 Section 12.09. Corporate Trustee Required; Eligibility. There shall at all times be a Trustee with respect to the Securities issued hereunder which shall at all times be a corporation organized and doing
business under the laws of the United States of America or any State or Territory thereof or of the District of Columbia, or a corporation or other Person permitted to act as trustee by the SEC, authorized under such laws to exercise corporate trust
powers, having a combined capital and surplus, or being a member of a bank holding company with a combined capital and surplus, of at least 50 million U.S. dollars ($50,000,000), and subject to supervision or examination by Federal, State,
Territorial or District of Columbia authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section,
the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Company may not, nor may any Person directly or indirectly controlling,
controlled by, or under common control with the Company, serve as Trustee. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the
effect specified in Section 12.10. 
 Section 12.10. Resignation and Removal; Appointment of Successor. (a) The Trustee or any successor hereafter appointed may at any time resign as Trustee with respect to the Securities by giving written
notice thereof to the Company and by transmitting notice of resignation by mail, first class postage prepaid, to the Securityholders, as their names and addresses appear upon the Register. Upon receiving such notice of resignation, the Company shall
promptly appoint a successor trustee with respect to the Securities by or pursuant to a resolution of the Board of Directors. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such
notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee with respect to the Securities, or any Securityholder who has been a bona fide holder of a Security or
Securities for at least six months may on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee, in either case at the sole cost and expense of the Company. Such court may thereupon
after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 
 (b)      In case at any time any one of the following shall occur: 
 (i)      the Trustee shall fail to comply with the provisions of Section 12.08 after written request therefor by the Company or by any Securityholder who has been a bona fide holder of a Security or
Securities for at least six months; 
 (ii)      the Trustee shall cease to be eligible in accordance with the provisions of Section 12.09 and shall fail to resign after written request therefor by the Company
or by any such Securityholder; or 
 (iii)      the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the
Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or control of 

  

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the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation; 
 then, in any such case, the Company may remove the Trustee with respect to all Securities and appoint a successor trustee by or pursuant to a resolution of the Board of
Directors, or, unless the Trustee’s duty to resign is stayed as provided herein, subject to Section 11.11, any Securityholder who has been a bona fide holder of a Security or Securities for at least six months may, on behalf of that Holder
and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe,
remove the Trustee and appoint a successor trustee. 
 (c)      The Holders of a majority in aggregate principal amount of the Securities at the time outstanding may at any time remove the Trustee by so notifying the Trustee and
the Company and may appoint a successor Trustee with the consent of the Company. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after such notification of removal by the Holders, the Trustee to be
removed may petition any court of competent jurisdiction for the appointment of a successor trustee with respect to the Securities, or any Securityholder who has been a bona fide holder of a Security or Securities for at least six months may on
behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee, in either case at the sole cost and expense of the Company. Such court may, as it may deem proper prescribe or appoint a
successor trustee. 
 (d)      Notwithstanding anything herein to the contrary, any resignation or removal of the Trustee and appointment of a successor trustee with respect to the Securities pursuant to any of the provisions of
this Section shall become effective upon acceptance of appointment by the successor trustee as provided in Section 12.11. 
 (e)      So long as no event which is, or after notice or lapse of time, or both, would
become, an Event of Default shall have occurred and be continuing, and except with respect to a Trustee appointed by the Holders of a majority in principal amount of the Securities at that time outstanding pursuant to Subsection (c) of this
Section, if the Company shall have delivered to the Trustee (i) a resolution of the Board of Directors appointing a successor Trustee, effective as of a date specified therein, and (ii) an instrument of acceptance of such appointment,
effective as of such date, by such successor Trustee in accordance with Section 12.11, the Trustee shall be deemed to have resigned as contemplated in subsection (a) of this Section, the successor Trustee shall be deemed to have been
appointed by the Company pursuant to subsection (a) of this Section and such appointment shall be deemed to have been accepted as contemplated in Section 12.11, all as of such date, and all other provisions of this Section and
Section 12.11 shall be applicable to such resignation, appointment and acceptance except to the extent inconsistent with this subsection (e). 
 (f)      At any time there shall be only one Trustee with respect to the Securities.

 Section 12.11.  Acceptance of Appointment By Successor. (a) In case of the appointment hereunder of a successor trustee with respect to the Securities, every such successor trustee so appointed shall execute, acknowledge and
deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor trustee, without any further act, deed or
conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor trustee, such retiring Trustee shall, upon payment of its charges and all other amounts
payable to it hereunder, execute and deliver an instrument transferring to such successor trustee all the rights, powers, and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such 

  

 55 

 
successor trustee all property and money held by such retiring Trustee hereunder, subject to the lien provided for in Section 12.06(b). 
 (b)      Upon request of any such successor trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor trustee all such rights,
powers and trusts referred to in paragraph (a) of this Section. 
 (c)      No successor trustee shall accept its appointment unless at the time of such acceptance such successor trustee shall be qualified and
eligible under this Article 12. 
 (d)      Upon acceptance of appointment by a successor trustee as provided in this Section, the Company shall transmit notice of the succession of such trustee hereunder by mail, first class
postage prepaid, to the Securityholders, as their names and addresses appear upon the Register. If the Company fails to transmit such notice within ten days after acceptance of appointment by the successor trustee, the successor trustee shall cause
such notice to be transmitted at the expense of the Company. 
 Section 12.12.  Merger, Conversion, Consolidation or Succession to Business. Any corporation or other business entity into which the Trustee may be
merged or converted or with which it may be consolidated, or any corporation or other business entity resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation or other business entity
succeeding to the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided that such corporation or other business entity shall be qualified under the provisions of Section 12.08 and eligible under the
provisions of Section 12.09, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. In case any Securities shall have been authenticated, but
not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor
Trustee had itself authenticated such Securities. 
 Section 12.13.  Preferential Collection of Claims Against the Company. The Trustee shall comply with Section 311(a) of the TIA, excluding any
creditor relationship described in Section 311(b) of the TIA. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the TIA to the extent included therein. 
 Section 12.14.  Notice of Defaults. If a Default or Event of Default occurs and is continuing hereunder and if it is actually known to a Trust Officer of the Trustee, the Trustee shall mail to each Holder notice of the Default or
Event of Default within 90 days after such Default or Event of Default. Except in the case of a default in payment of principal of or interest (including Additional Interest, if any) on any Security, the Trustee may withhold the notice if and so
long as a committee of its Trust Officers in good faith determines that withholding the notice is not opposed to the interest of the Holders of such Securities. 
 Section 12.15.  Reports by Trustee. (a) Within sixty (60) days
after September 15 of each year commencing with the year 2007, the Trustee shall transmit to Securityholders such reports dated as of September 15 of the year in which such report is made concerning the Trustee and its actions under this
Indenture as may be required pursuant to the TIA, including, without limitation, Section 313(a) thereof, at the times and in the manner provided pursuant thereto. In the event that, on any such reporting date, no events have occurred under the
applicable sections of the TIA within the 12 months preceding such reporting date, the Trustee shall be under no duty or obligation to provide such reports. The Trustee shall also comply with TIA Section 313(b)(2). The Trustee shall transmit by
mail all reports as required by TIA Section 313(c). 
  

 56 

 (b)      A copy of each such report shall, at the time of such transmission to Securityholders, be delivered to the Company and filed by the Trustee with each stock exchange upon which the
Securities are listed and with the SEC in accordance with TIA Section 313(d). The Company shall notify the Trustee when the Securities are listed on any stock exchange and of any delisting thereof. 
 Section 12.16.  Preferential Collection of Claims. If and when the Trustee shall be or become a creditor of the Company (or any other obligor upon the Securities), the Trustee shall be subject to the provisions of the TIA
regarding the collection of claims against the Company (or any such other obligor). 
  
 ARTICLE 13 
 AMENDMENTS, SUPPLEMENTS AND
WAIVERS 
 Section 13.01.  Without Consent of Holders. The Company and the Trustee may amend or supplement this Indenture or the Securities without notice to, or consent of, any Securityholder: 
 (a)      to cure any ambiguity, defect or inconsistency, to correct or supplement any provision herein which may be inconsistent with any other provision herein, or to make any other provisions with respect
to matters or questions arising under this Indenture which shall not be inconsistent with the provisions of this Indenture, provided that such action pursuant to this clause (a) shall not adversely affect the interests of the Holders in
any material respect; 
 (b)      to provide for uncertificated Securities in addition to or in place of Certificated Securities; 
 (c)      to provide for the assumption of the Company’s obligations to Holders of
Securities in the case of a share exchange, merger or consolidation or sale of all or substantially all of the Company’s assets; 
 (d)      to make any change that would provide any additional rights or benefits to the
Holders of Securities or that does not adversely affect in any material respect the legal rights under this Indenture of any Securityholder; 
 (e)      to add a guarantor; 
 (f)      to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA; 
 (g)      to secure the Securities; 
 (h)      to comply with the rules of any applicable securities depositary, including the Depositary; 
 (i)      to increase the Conversion Rate; 
 (j)      to execute a supplemental indenture in accordance with Section 7.08; 
 (k)      to conform the text of this Indenture or the Securities to any provision of the “Description of the Notes” contained in the Offering Circular to the extent that the text of the
“Description of the Notes” was intended by the Company and the Initial Purchasers to be a recitation of the text of this Indenture or the Securities as represented by the Company to the trustee in an Officers’ Certificate; 

 

 57 

 (l)      to provide for a successor Trustee in accordance with the terms of this Indenture or to otherwise comply with any requirement of this Indenture; 
 (m)      to provide for the issuance of Additional Securities, to the extent that the Company and the Trustee deem such amendment or supplement necessary or advisable in connection with such issuance;
provided that no such amendment or supplement shall impair the rights or interests of any Holder of Initial Securities; or 
 (n)      to modify the restrictions and procedures for resale and other transfers of
Securities or Common Stock pursuant to law, regulation or practice relating to the resale or transfer of restricted securities generally. 
 Section 13.02.  With Consent of Holders. The Company and the Trustee may amend or supplement the
Securities or this Indenture with the consent of the Holders of at least a majority in aggregate principal amount of the Securities then outstanding. Subject to Section 11.04 and Section 11.07, the Holders of at least a majority in
aggregate principal amount of the Securities then outstanding may waive compliance in any instance by the Company with any provision of the Securities or this Indenture without notice to any Securityholder. However, notwithstanding the foregoing but
subject to Section 13.04, without the consent of the Holders of each Security then outstanding, an amendment, supplement or waiver may not: 
 (a)      change the stated maturity of the principal of or the payment date of any
installment of interest (including Additional Interest, if any) on or with respect to the Securities; 
 (b)      reduce the principal amount of, the Fundamental Change Purchase Price of, or the Conversion Rate (except as provided in this
Indenture) or rate of interest or Additional Interest on, any Security; 
 (c)      reduce the amount of principal payable upon acceleration of the maturity of any Security; 
 (d)      change the currency in which payment of principal of, the Fundamental Change Purchase Price of, or interest with respect to, the Securities is payable; 
 (e)      impair the right to institute suit for the enforcement of any payment on, or with respect to, any Security; 
 (f)      modify the provisions with respect to the repurchase
rights of Holders as provided in Article 5 in a manner adverse to Holders; 
 (g)      adversely affect the right of Holders to convert Securities other than as provided in this Indenture; 
 (h)      reduce the percentage in principal amount of the outstanding Securities, the consent of whose Holders is required to take specific actions including, but not limited to, the waiver of past defaults
or the modification or amendment of this Indenture; or 
 (i)      alter the manner of calculation or rate of accrual of interest or Additional Interest or Fundamental Change Purchase Price or the Conversion Rate (except as
permitted under Section 13.01(i)) on any Security or extend the time for payment of any such amount. 
  

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 It shall not be necessary for the consent of the Holders under this Section 13.02 to approve the
particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. 
 After an amendment, supplement or waiver under Section 13.01 or this Section 13.02 becomes effective, the Company shall mail to the Holders affected thereby a notice briefly describing the amendment, supplement or waiver. Any
failure of the Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment, supplement or waiver. 
 Section 13.03.  Compliance with Trust Indenture Act. Every amendment to or supplement of this Indenture or the Securities shall comply with the TIA as in effect at the date of such amendment or supplement. 
 Section 13.04.  Revocation and Effect of Consents. Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder is a continuing consent by the Holder and every subsequent Holder of a Security or portion
of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the consent as to its Security or portion of a
Security if the Trustee receives the notice of revocation before the date the amendment, supplement or waiver becomes effective. 
 After an
amendment, supplement or waiver becomes effective, it shall bind every applicable Securityholder. 
 Section 13.05.  Notation on or Exchange of Securities. If an amendment, supplement or waiver changes the terms of a Security, the Trustee may
require the Holder of the Security to deliver it to the Trustee. The Trustee may place an appropriate notation on the Security about the changed terms and return it to the Holder. Alternatively, if the Company or the Trustee so determines, the
Company in exchange for the Security shall issue and the Trustee shall authenticate a new Security that reflects the changed terms. 
 Section 13.06.  Trustee to Sign Amendments, Etc. The Trustee shall sign any amendment or
supplemental indenture authorized pursuant to this Article 13 if the amendment or supplemental indenture does not adversely affect the rights, duties, liabilities or immunities of the Trustee in any material respect. If it does adversely affect the
rights, duties, liabilities or immunities of the Trustee in any material respect, the Trustee may, in its sole discretion, but need not sign it. In signing or refusing to sign such amendment or supplemental indenture, the Trustee shall be provided
with and, subject to Section 12.01, shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel stating that such amendment or supplemental indenture is authorized or permitted by this Indenture and that
all conditions precedent to the effectiveness of such amendment or supplement have been satisfied or duly waived. 
 Section 13.07.  Effect of Supplemental Indentures. Upon the execution of any supplemental indenture under this
Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder
shall be bound thereby. 
  

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 ARTICLE 14 
 [RESERVED] 
  
 ARTICLE 15 
 SATISFACTION AND DISCHARGE 
 Section 15.01.  Satisfaction and Discharge of the Indenture. This Indenture shall cease to be of further effect (except as to any surviving rights of registration of transfer or exchange of Securities herein expressly provided
for), and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when 
 (a)      either 
 (i)      all Securities theretofore authenticated and delivered (other than Securities that have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 2.07) have
been delivered to the Trustee for cancellation; or 
 (ii)      all such Securities not theretofore delivered to the Trustee for cancellation have become due and payable whether at the Maturity
Date, upon acceleration, with respect to any Fundamental Change Purchase Date, upon conversion or otherwise and the Company deposits with the Paying Agent or Conversion Agent, as the case may be, Cash, Common Stock or other consideration, or a
combination thereof, as applicable hereunder, sufficient to pay on such date all amounts due and owing on all outstanding Securities (other than Securities replaced pursuant to Section 2.07) on such date; 
 (b)      the Company has paid or caused to be paid all other sums payable hereunder by the Company; and 
 (c)      the Company has delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 12.06 and, if money shall have been deposited with the Trustee pursuant to
Section 15.01(a)(ii), the obligations of the Trustee under Section 15.02 shall survive such satisfaction and discharge. 
 Notwithstanding anything herein to the contrary, Article 7, Article 15, and Section 2.04, Section 2.06, Section 2.07, Section 2.08, Section 2.14, Section 9.01, Section 9.05, Section 9.06 and
Section 12.06 shall survive any discharge of this Indenture until such time as there are no Securities outstanding. 
 Section 15.02.  Repayment to the Company. The Trustee, the Paying Agent and the Conversion Agent shall return to the
Company upon written request any Cash or securities held by them for the payment of any amount with respect to the Securities that remains unclaimed for two years, subject to applicable unclaimed property law. After return to the Company, Holders
entitled to the Cash or securities must look to the Company for payment as general creditors unless an applicable abandoned property law designates another person and the Trustee, the Paying Agent and the Conversion Agent shall have no further
liability to the Securityholders with respect to such Cash or securities for that period commencing after the return thereof. 
  

 60 

 ARTICLE 16 
 MISCELLANEOUS 
 Section 16.01.  Trust Indenture Act Controls. If any provision of this Indenture limits, qualifies or conflicts with another provision which is
required to be included in this Indenture by the TIA, including, without limitation, the duties imposed by TIA Section 318(c), the required provision of the TIA shall control. 
 Section 16.02.  Notices. Any demand, authorization notice, request, consent or communication shall be given in writing and delivered in person, sent by overnight courier or mailed by first-class mail, postage prepaid, addressed
as follows or transmitted by facsimile transmission (confirmed by delivery in person or mail by first-class mail, postage prepaid, or by guaranteed overnight courier) to the parties hereto as follows: 
 If to the Company, to: 
 Cypress
Semiconductor Corporation 
 198 Champion Court 
 San Jose, CA 95134 
 Attention: Treasurer 
 Facsimile No.: (408) 943-2796 
 if to the Trustee, to:

 U.S. Bank National Association 
 633 West 5th Street, 24th Floor 
 Los Angeles, CA 90071 
 Attention: Corporate
Trust Services 
 (Cypress 1.00% Convertible Senior Notes due 2009) 
 Fax: (213) 615-6197 
 Such notices or
communications to the Trustee shall be effective when received. 
 The Company or the Trustee by notice to the other in the manner prescribed
above may designate additional or different addresses or facsimile numbers for subsequent notices or communications. 
 Any notice or
communication mailed to a Securityholder shall be mailed by first-class mail, postage prepaid, or delivered by hand or by an overnight delivery service to it at its address shown on the Register and shall be sufficiently given if so mailed or
delivered within the time prescribed. Any notice or communication shall also be mailed to any Person described in TIA Section 313(c), to the extent required by the TIA. 
 Failure to mail a notice or communication to a Securityholder or any defect in it shall not affect its sufficiency with respect to other Securityholders.
Except as set forth above as to the Trustee, if a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it. 
 Section 16.03.  Communications by Holders with Other Holders. Securityholders may communicate pursuant to TIA Section 312(b) with other Securityholders with respect to their rights under this Indenture or the Securities. The
Company, the Trustee, the Registrar, the Paying Agent, the Conversion Agent and any other Person shall have the protection of TIA Section 312(c). 
  

 61 

 Section 16.04.  Certificate and Opinion as to Conditions Precedent. (a) Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall
furnish to the Trustee at the request of the Trustee: 
 (i)      an Officers’ Certificate stating that, in the opinion of the signers, all conditions precedent (including any covenants,
compliance with which constitutes a condition precedent), if any, provided for in this Indenture relating to the proposed action have been complied with; and 
 (ii)      an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent (including any covenants, compliance with which constitutes a condition precedent) have been
complied with. 
 (b)      Each Officers’ Certificate and Opinion of Counsel with respect to compliance with a condition or covenant provided for in this Indenture (other than an Officers’ Certificate provided
pursuant to Section 9.03) shall include: 
 (i)      a statement that the person making such certificate or opinion has read such covenant or condition; 
 (ii)      a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (iii)      a statement that, in the opinion of such person, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such
covenant or condition has been complied with; and 
 (iv)      a statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with; 
 provided that with respect to matters of fact an Opinion of Counsel may rely on an Officers’ Certificate or certificates of public officials. 
 Section 16.05.  Record Date for Vote or Consent of Securityholders. The Company may set a record date for purposes of determining the identity of Holders entitled to vote or consent to any action by vote or consent authorized or
permitted under this Indenture, which record date shall not be more than 30 days prior to the date of the commencement of solicitation of such action. Notwithstanding the provisions of Section 13.04, if a record date is fixed, those persons who
were Holders of Securities at the close of business on such record date (or their duly designated proxies), and only those persons, shall be entitled to take such action by vote or consent or to revoke any vote or consent previously given, whether
or not such persons continue to be Holders after such record date. 
 Section 16.06.  Rules by Trustee, Paying Agent, Registrar and Conversion Agent. The Trustee may make reasonable rules (not inconsistent with the terms
of this Indenture) for action by or at a meeting of Holders. Any Registrar, Paying Agent or Conversion Agent may make reasonable rules for its functions. 
 Section 16.07.  Legal Holidays. A “Legal Holiday” is a
Saturday, Sunday or a day on which state or federally chartered banking institutions in New York, New York are not required to be open. If a payment date is a Legal Holiday, payment shall be made on the next succeeding day that is not a Legal

  

 62 

 
Holiday, and no interest shall accrue for the intervening period. If an Interest Payment Record Date or other record date is a Legal Holiday, the record date
shall not be affected. 
 Section 16.08.  Governing Law; Jury Trial Waiver. This Indenture and the Securities shall be governed by, and construed in accordance with, the laws of the State of New York. 
 EACH OF THE COMPANY AND THE TRUSTEE HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN
RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS INDENTURE. 
 Section 16.09.  No Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret another
indenture, loan or debt agreement of the Company or a Subsidiary of the Company. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 16.10.  No Recourse Against Others. No recourse for the payment
of the principal of, or accrued and unpaid interest (including Additional Interest, if any), on, any Security, or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the
Company in this Indenture or in any supplemental indenture or in any Security, or because of the creation of any Indebtedness represented thereby, shall be had against any past, present or future incorporator, stockholder, employee, agent, officer
or director or Subsidiary of the Company as such or of any successor corporation, either directly or through the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any
assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issue of the Securities.

 Section 16.11.  Successors. All agreements of the Company in this Indenture and the Securities shall bind its successors. All agreements of the Trustee in this Indenture shall bind its successor. 
 Section 16.12.  Multiple Counterparts. The parties may sign multiple counterparts of this Indenture. Each signed counterpart shall be deemed an original, but all of them together shall represent the same agreement. 
 Section 16.13.  Separability. In case any provisions in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby. 
 Section 16.14.  Calculations in Respect of the Securities. The Company or its agents shall make all calculations under this Indenture and the Securities in good faith. In the absence of manifest
error, such calculations shall be final and binding on all Holders. The Company or its agents shall provide a copy of such calculations to the Trustee as required hereunder, and the Trustee shall be entitled to rely on the accuracy of any such
calculation without independent verification. 
 Section 16.15.  Table of Contents, Headings, Etc. The table of contents, cross-reference sheet and headings of the Articles and Sections of this Indenture have been inserted for convenience of
reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 
 [SIGNATURE PAGE FOLLOWS] 
  

 63 

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

					
	 CYPRESS SEMICONDUCTOR
 CORPORATION

 
  
  

	By:	 	 /s/ Brad W. Buss

		 	Name:    	 	Brad W. Buss
		 	Title:	 	 Executive Vice President,
 Finance and
Administration,
 Chief Financial Officer

	  
  
  
 U.S. BANK NATIONAL ASSOCIATION, not
 in its individual capacity, but solely as
Trustee,
  
  
  

	By:	 	 /s/ Paula Oswald

		 	Name:	 	Paula Oswald
		 	Title:	 	Vice President

  

 64 

 EXHIBIT A 
 [FORM OF FACE OF SECURITY] 
 UNLESS THIS CERTIFICATE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, 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 A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES
DESCRIBED IN THE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE
DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.1 
 THIS SECURITY (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THIS SECURITY AND ANY COMMON STOCK ISSUABLE
UPON CONVERSION HEREOF MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THIS SECURITY IS HEREBY NOTIFIED THAT THE SELLER OF THIS SECURITY MAY BE RELYING ON
THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER.2 

THE HOLDER OF THIS SECURITY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS SECURITY
AND THE COMMON STOCK ISSUABLE UPON CONVERSION HEREOF MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY (I) IN THE UNITED STATES TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE
144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (II) OUTSIDE THE UNITED STATE IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT, (III) PURSUANT TO AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE) OR (IV) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (IV) IN ACCORDANCE WITH ANY APPLICABLE
SECURITIES LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS SECURITY FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE. IN ANY CASE, THE
HOLDER HEREOF WILL NOT, DIRECTLY OR INDIRECTLY, ENGAGE IN ANY HEDGING TRANSACTIONS WITH REGARD TO THIS SECURITY EXCEPT AS PERMITTED UNDER THE SECURITIES ACT.3 
  
 ______________________ 

1  This legend to be included only if the Security is a Global Security. 
 2  This legend to be included only if the Security is a Restricted Security. 
 3  This legend to be included only if the Security is a Restricted Security. 
  

 A-1 

 CYPRESS SEMICONDUCTOR CORPORATION 
 1.00% Convertible Senior Notes due September 15, 2009 
  

					
	No. [·]	  	CUSIP: 232806 AJ 8	  	U.S. $[·]
		  	ISIN: US 232806 AJ 87	  	

 Cypress Semiconductor Corporation, a Delaware corporation (the “Company,” which
term shall include any successor Person under the Indenture referred to on the attached “Terms of the Notes”), promises to pay to Cede & Co., or registered assigns, the principal amount of [·] Million Dollars ($[·]) on September 15, 2009, and to pay interest
thereon, in arrears, from and including the most recent Interest Payment Date to which interest has been paid or duly provided for (or if no interest has been paid, from, and including March 13, 2007), to, but excluding, March 15 and
September 15 of each year (each, an “Interest Payment Date”), beginning on September 15, 2007, at a rate of 1.00% per annum until the principal hereof is paid or made available for payment at September 15, 2009,
or upon acceleration, or until such date on which this security is converted or purchased as provided herein. The interest so payable and punctually paid or duly provided for on any Interest Payment Date shall, as provided in the Indenture (as
hereinafter defined), be paid to the Person in whose name this Security is registered at the close of business on the regular record date for such interest, which shall be the March 1 or September 1 (whether or not a Business Day), as the
case may be, immediately preceding the relevant Interest Payment Date (each, an “Interest Payment Record Date”); provided, however, that interest shall be paid to a Person other than the Person in whose name this
Security is registered at the close of business on the Interest Payment Record Date as provided herein. 
 Reference is hereby made to the
further provisions of this Security set forth on the attached “Terms of the Notes,” which further provisions shall for all purposes have the same effect as if set forth at this place. 
 [Signature page follows] 
  

 A-2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 
 Dated: March 13, 2007 
  

			
	 CYPRESS SEMICONDUCTOR CORPORATION,
  
  
  

	By:    	 	  

		 	Name:
		 	Title:

 Trustee’s Certificate of Authentication: This is one of the Securities referred to in the
within-mentioned Indenture. 
  

			
	 U.S. BANK NATIONAL ASSOCIATION, not
 in its
individual capacity, but solely as Trustee,
  
  
  

	By:    	 	  

		 	Name:
		 	Title:

  

 A-3 

 CYPRESS SEMICONDUCTOR CORPORATION 
 1.00% CONVERTIBLE SENIOR NOTES DUE SEPTEMBER 15, 2009 
 This Security is one of a duly
authorized issue of 1.00% Convertible Senior Notes due September 15, 2009 (the “Securities”) of the Company issued under an Indenture, dated as of March 13, 2007 (the “Indenture”), between the Company and
U.S. Bank National Association, as trustee (the “Trustee”). The terms of the Security include those stated in the Indenture, those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (the
“TIA”), and those set forth in this Security. This Security is subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of all such terms. To the extent permitted by applicable law, if any
provision of this Security conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. Capitalized terms used but not defined herein have the meanings assigned to them in the Indenture
unless otherwise indicated. 
  

	1.	Interest. 

 Cypress Semiconductor Corporation, a
Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Security at the rate per annum shown above. The Company will pay interest, payable semi-annually in arrears, on March 15 and
September 15 of each year, with the first payment to be made on September 15, 2007. Interest on the Securities will accrue on the principal amount from, and including, the most recent date to which interest has been paid or provided for
or, if no interest has been paid, from, and including, March 13, 2007, in each case to, but excluding, the next interest payment date or Maturity Date, as the case may be. Interest will be computed on the basis of a 360-day year of twelve
30-day months. 
  

	2.	Method of Payment. 

 Payment of the principal of,
and interest on, the Securities shall be made at the office of the Paying Agent 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 Holder must surrender
this Security to a Paying Agent to collect payment of principal. Payment of interest on Certificated Securities shall be made by check mailed to the address of the Person entitled thereto as such address appears in the Register; provided,
however, that Holders with Securities in an aggregate principal amount in excess of $2.0 million shall be paid, at their written election, by wire transfer of immediately available funds. Notwithstanding the foregoing, so long as the
Securities are registered in the name of a Depositary or its nominee, all payments with respect to the Securities shall be made by wire transfer of immediately available funds to the account of the Depositary or its nominee. 
  

	3.	Paying Agent, Registrar, Conversion Agent. 

 Initially, the Trustee shall act as Paying Agent, Registrar and Conversion Agent. The Company or any Affiliate of the Company may act as Paying Agent, Registrar or Conversion Agent, subject to the terms of the Indenture. 
  

	4.	Indenture. 

 The Securities are general
unsubordinated unsecured obligations of the Company initially limited to $600,000,000 aggregate principal amount. The Company may, without consent of the Securityholders, issue additional Securities under the Indenture with the same terms as the
notes offered hereby in an 

  

 A-4 

 
unlimited aggregate principal amount. The Indenture does not limit other debt of the Company, secured or unsecured. 
  

	5.	Purchase by the Company Upon a Fundamental Change. 

 Subject to the terms and conditions set forth in Article 5 of the Indenture, each Holder shall have the option to require the Company to repurchase its Securities upon the occurrence of a Fundamental Change. 
  

	6.	Conversion. 

 Subject to the terms and conditions
set forth in Article 7 of the Indenture, the Securities shall be convertible into cash, and, if applicable, cash, shares of Common Stock or a combination thereof at the Company’s election. In addition, subject to the terms and conditions set
forth in Section 7.01 of the Indenture, upon the occurrence of a Make-Whole Fundamental Change, we may increase the Conversion Rate for Securities converted in connection with a Make-Whole Fundamental Change. 
  

	7.	Denominations; Transfer; Exchange. 

 The Securities
are in registered form, without coupons, in denominations of $1,000 and integral multiples of $1,000. A Holder may register the transfer of or exchange Securities in accordance with the Indenture. The Registrar may require a Holder, among other
things, to furnish appropriate endorsements and transfer documents and to pay certain taxes, assessments or other governmental charges that may be imposed in relation thereto by law or permitted by the Indenture. 
  

	8.	Persons Deemed Owners. 

 The registered Holder of a
Security may be treated as the owner of such Security for all purposes. 
  

	9.	Unclaimed Money or Securities. 

 The Trustee and
the Paying Agent shall return to the Company upon written request any Cash or securities held by them for the payment of any amount with respect to the Securities that remains unclaimed for two years, subject to applicable unclaimed property law.
After return to the Company, Holders entitled to the Cash or securities must look to the Company for payment as general creditors unless an applicable abandoned property law designates another person. 
  

	10.	Amendment, Supplement and Waiver. 

 Subject to
certain exceptions, the Securities or the Indenture may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the Securities then outstanding, and, subject to certain exceptions, an
existing or future Default or Event of Default with respect to the Securities and its consequences or compliance with any provision of the Securities or the Indenture may be waived with the consent of the Holders of at least a majority in aggregate
principal amount of the Securities then outstanding. Subject to the terms of the Indenture, without the consent of or notice to any Holder, the Company and the Trustee may amend or supplement the Indenture or the Securities to, among other things,
cure any ambiguity, defect or inconsistency or make any change that does not adversely affect in any material respect the interests under the Indenture of any Holder. 
  

	11.	Defaults and Remedies. 

  

 A-5 

 Subject to certain exceptions set forth in the Indenture, if an Event of Default (excluding an Event of
Default specified in Sections 11.01(h) or 11.01(i) of the Indenture with respect to the Company) occurs and is continuing, the Trustee by notice to the Company or the Holders of at least twenty five percent (25%) in principal amount of the
Securities then outstanding by notice to the Company and the Trustee may declare the Securities to be due and payable. Upon such declaration, the principal of, and accrued and unpaid interest on, all Securities shall be due and payable immediately.
If an Event of Default specified in Sections 11.01(h) or 11.01(i) of the Indenture with respect to the Company occurs, the principal of, and accrued and unpaid interest on, all the Securities shall ipso facto become and be immediately due and
payable without any declaration or other act on the part of the Trustee or any Holder. 
  

	12.	Trustee Dealings with the Company. 

 Subject to
certain limitations imposed by the TIA, the Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Company or its
Affiliates and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not the Trustee. 
  

	13.	No Recourse Against Others. 

 No recourse under or
upon any obligation, covenant or agreement of the Company contained in the Indenture, or in this Security, or because of any indebtedness evidenced thereby or hereby, shall be had against any incorporator, as such, or against any past, present or
future employee, stockholder, officer or director, as such, of the Company or of any successor, either directly or through the Company or any successor, under any rule of law, statute or constitutional provision or by the enforcement of any
assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and released by the acceptance of the Securities by the Holders and as part of the consideration for the issuance of the Securities.

  

	14.	Authentication. 

 This Security shall not be valid
until the Trustee or an authenticating agent manually signs the certificate of authentication on the other side of this Security. 
  

	15.	Abbreviations. 

 Customary abbreviations may be
used in the name of the Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and UGMA (= Uniform
Gifts to Minors Act). 
  

	16.	Indenture to Control; Governing Law. 

 To the
extent permitted by applicable law, if any provision of this Security conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. This Security shall be governed by, and construed in
accordance with, the laws of the State of New York. 
  

	17	Copies of Indenture. 

  

 A-6 

 The Company shall furnish to any Holder, upon written request and without charge, a copy of the
Indenture. Requests may be made to: Cypress Semiconductor Corporation, 198 Champion Court, San Jose, CA 95134, Fax No.: (408) 943-2796, Attention: Treasurer. 
 [18.    Registration Rights. 
 The Holders of the
Securities are entitled to the benefits of a Registration Rights Agreement, dated as of March 13, 2007, between the Company and the Initial Purchasers, including, in certain circumstances, the receipt of Additional Interest upon a registration
default (as defined in such agreement).]4 
  
  
  
  
  
 ______________________

 4    Include only if the Security is a Restricted Security. 
  

 A-7 

 SCHEDULE OF EXCHANGES OF SECURITIES5 
 The following
exchanges, redemptions, purchases or conversions of a part of this Global Security have been made: 
  

									
	 DATE OF
 DECREASE OR
INCREASE
	 	AUTHORIZED
SIGNATORY OF
SECURITIES	 	 DECREASE IN
PRINCIPAL
 AMOUNT OF
 THIS GLOBAL
 SECURITY
	 	 INCREASE IN
 PRINCIPAL
 AMOUNT OF
 THIS GLOBAL
 SECURITY
	 	 PRINCIPAL
 AMOUNT OF
 THIS GLOBAL
 SECURITY
 FOLLOWING
 SUCH DECREASE
 OR INCREASE

  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 ______________________ 
 5    This schedule to be included only if the Security is a
Global Security. 
  

 A-8 

 ASSIGNMENT FORM6 
 To assign this Security, fill in the form below:

 I or we assign and transfer this Security to 
                                       
                                        
                                        
                                        
                                        
                                        
                    
 (Insert
assignee’s soc. sec. or tax ID no.) 
                                       
                                        
                                        
                                        
                                        
                                        
                    
 (Print or type
assignee’s name, address and zip code) 
 and irrevocably appoint the agent to transfer this Security on the books of the Company. The agent may
substitute another to act for him. 
 Dated:
                                        

  

			
	Your Signature:	 	  

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

  

			
	 Signature Guaranteed
 Participant in a
Recognized Signature

	
	Guarantee Medallion Program
		
	By:	 	                                      
                      
		 	Authorized Signatory

  
  
 ______________________ 
 6  This Form and the following Forms to be included only if the Security is a Certificated Security. 
  

 A-9 

 FORM OF CONVERSION NOTICE 
 To convert this Security into Cash or a combination of Cash and shares of Common Stock, as applicable and as provided in the Indenture check the box   ̈ 
 To convert only part of this Security, state the principal amount to
be converted (which must be $1,000 or a multiple of $1,000):
                                        
                     
 If you want
the stock certificate made out in another person’s name, fill in the form below: 
                                       
                                        
                                        
                                        
                                        
                                        
                    
 (Insert
assignee’s soc. sec. or tax ID no.) 
                                       
                                        
                                        
                                        
                                        
                                        
                    
 (Print or type
assignee’s name, address and zip code) 
 The undersigned (the “Applicant”) hereby makes application for the issuance of
record to the name of the Applicant of shares of Common Stock. 
 Dated:
                                        
     
  

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

  

			
	 Signature Guaranteed
 Participant in a
Recognized Signature

	
	Guarantee Medallion Program
		
	By:	 	                                      
                      
		 	Authorized Signatory

  

 A-10 

 FORM OF FUNDAMENTAL CHANGE PURCHASE NOTICE 
 U.S. Bank National Association 
 633 West 5th Street, 24th Floor 
 Los Angeles, CA 90071 
 Attention: Corporate Trust Services 
 (Cypress 1.00% Convertible Senior Notes due September 15, 2009) 
  

	 	Re:	Cypress Semiconductor Corporation (the “Company”) 

	 	    	1.00% Convertible Senior Notes due September 15, 2009 

 This is a Fundamental Change Purchase Notice as defined in Section 5.01(c) of the Indenture, dated as of March 13, 2007 (the “Indenture”), between the Company and U.S. Bank National Association, as Trustee. Terms used
but not defined herein shall have the meanings ascribed to them in the Indenture. 
 Certificate No(s). of Securities: 
 I intend to deliver the following aggregate principal amount of Securities for purchase by the Company pursuant to Section 5.01(a) of the Indenture
(in multiples of $1,000): 
 $                                     
 I hereby agree that the Securities shall be purchased on the Fundamental Change Purchase Date pursuant to the terms and conditions specified in paragraph
5 of the Securities and in the Indenture. 
 Signed:
                                        
         
  

 A-11 

 CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR 
 REGISTRATION OF TRANSFER OF RESTRICTED SECURITIES 
  

	 	Re:	1.00% Convertible Senior Notes due September 15, 2009 

	 	    	(the “Securities”) of Cypress Semiconductor Corporation 

 This certificate relates to $                      principal amount of Securities owned in (check applicable box):

  ̈  book-entry
or         ̈  definitive form by        (the
“Transferor”). 
 The Transferor has requested a Registrar or the Trustee to exchange or register the transfer of such Securities.
In connection with such request and in respect of each such Security, the Transferor does hereby certify that the Transferor is familiar with transfer restrictions relating to the Securities as provided in Section 2.12 of the Indenture, dated
as of March 13, 2007, between Cypress Semiconductor Corporation and U.S. Bank National Association, as trustee (the “Indenture”), and either the transfer of such Security is being made pursuant to an effective registration
statement under the Securities Act of 1933, as amended (the “Securities Act”) (check applicable box) or the transfer or exchange, as the case may be, of such Security does not require registration under the Securities Act because (check
applicable box): 
  

	 	 ̈	Such Security is being transferred pursuant to an effective registration statement under the Securities Act. 

  

	 	 ̈	Such Security is being acquired for the Transferor’s own account, without transfer. 

  

	 	 ̈	Such Security is being transferred to the Company or a Subsidiary (as defined in the Indenture) of the Company. 

  

	 	 ̈	Such Security is being transferred to a person the Transferor reasonably believes is a “qualified institutional buyer” (as defined in Rule 144A or any successor provision
thereto (“Rule 144A”) under the Securities Act) to whom notice has been given that the transfer is being made in reliance on such Rule 144A, in reliance on Rule 144A. 

  

	 	 ̈	Such Security is being transferred pursuant to and in compliance with an exemption from the registration requirements under the Securities Act in accordance with Rule 144 (or any
successor thereto) (“Rule 144”) under the Securities Act. 

  

	 	 ̈	Such Security is being transferred to a non-U.S. Person in an offshore transaction in compliance with Regulation S under the Securities Act (or any successor thereto).

  

	 	 ̈	Such Security is being transferred pursuant to and in compliance with an exemption from the registration requirements of the Securities Act (other than an exemption referred to
above). 

 The Transferor acknowledges and agrees that, if the transferee will hold any such Securities in the form of
beneficial interests in a Global Security that is a “restricted security” within the meaning of Rule 144 under the Securities Act, then such transfer can be made only (x) pursuant to Rule 144A under the Securities Act to a transferee
that the transferor reasonably believes is a “qualified institutional buyer,” as defined in Rule 144A, or (y) pursuant to Regulation S under the Securities Act. 
  

 A-12 

 Dated:
                                        

  

			
	Signature(s) of Transferror:	 	                                      
                          
		 	 (Sign exactly as your name
 appears on the other side of this
 Security)

  

			
	 Signature Guaranteed
 Participant in a
Recognized Signature

	
	Guarantee Medallion Program
		
	By:	 	                                      
                  
		 	Authorized Signatory

  

 A-13 

 IN WITNESS WHEREOF, 
  

			
	 [                            ]
  
  

	By:	 	  

		 	Name:
		 	Title:

  

 A-14 

 EXHIBIT B 
 The following table sets forth the increase in the Conversion Rate, expressed as a number of Additional Shares per $1,000 principal amount of Securities: 
  

													
	 	 	Effective Date
	Stock
    Price    	 	3/13/2007	 	9/15/2007	 	3/15/2008	 	9/15/2008	 	3/15/2009	 	9/15/2009
	$18.89	 	11.10	 	11.10	 	11.10	 	11.10	 	11.10	 	11.10
	$20.00	 	  9.38	 	  9.18	 	  8.91	 	  8.55	 	  8.12	 	  8.16
	$22.00	 	  6.98	 	  6.67	 	  6.26	 	  5.69	 	  4.89	 	  3.62
	$24.00	 	  5.23	 	  4.87	 	  4.39	 	  3.74	 	  2.78	 	  0.00
	$26.00	 	  3.96	 	  3.57	 	  3.09	 	  2.43	 	  1.50	 	  0.00
	$28.00	 	  3.02	 	  2.64	 	  2.18	 	  1.57	 	  0.77	 	  0.00
	$30.00	 	  2.33	 	  1.97	 	  1.55	 	  1.02	 	  0.37	 	  0.00
	$32.00	 	  1.81	 	  1.49	 	  1.11	 	  0.66	 	  0.16	 	  0.00
	$34.00	 	  1.42	 	  1.13	 	  0.80	 	  0.43	 	  0.06	 	  0.00
	$36.00	 	  1.12	 	  0.87	 	  0.59	 	  0.29	 	  0.02	 	  0.00
	$38.00	 	  0.90	 	  0.68	 	  0.44	 	  0.20	 	  0.00	 	  0.00
	$40.00	 	  0.73	 	  0.54	 	  0.34	 	  0.14	 	  0.00	 	  0.00
	$45.00	 	  0.45	 	  0.31	 	  0.19	 	  0.07	 	  0.00	 	  0.00
	$50.00	 	  0.29	 	  0.20	 	  0.12	 	  0.05	 	  0.00	 	  0.00
	$55.00	 	  0.20	 	  0.14	 	  0.08	 	  0.04	 	  0.00	 	  0.00
	$60.00	 	  0.14	 	  0.10	 	  0.06	 	  0.03	 	  0.00	 	  0.00

  

 B-1

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