Document:

EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 
  

 
  

 
  

INOVIO PHARMACEUTICALS, INC. 

and 
 U.S. BANK NATIONAL
ASSOCIATION 
 as Trustee 
  

 
 INDENTURE 

Dated as of February 19, 2019 
  

 
 6.50%
Convertible Senior Notes due 2024 
  
  

 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	Page	 
		
	 Article 1. Definitions; Rules of Construction
	  	 	1	 
			
	 Section 1.01.
	 	Definitions	  	 	1	 
	 Section 1.02.
	 	Other Definitions	  	 	12	 
	 Section 1.03.
	 	Rules of Construction	  	 	13	 
		
	 Article 2. The Notes
	  	 	14	 
			
	 Section 2.01.
	 	Form, Dating and Denominations	  	 	14	 
	 Section 2.02.
	 	Execution, Authentication and Delivery	  	 	14	 
	 Section 2.03.
	 	Initial Notes and Additional Notes	  	 	15	 
	 Section 2.04.
	 	Method of Payment	  	 	16	 
	 Section 2.05.
	 	Accrual of Interest; Defaulted Amounts; When Payment Date is Not a Business Day	  	 	16	 
	 Section 2.06.
	 	Registrar, Paying Agent and Conversion Agent	  	 	17	 
	 Section 2.07.
	 	Paying Agent and Conversion Agent to Hold Property in Trust	  	 	18	 
	 Section 2.08.
	 	Holder Lists	  	 	18	 
	 Section 2.09.
	 	Legends	  	 	18	 
	 Section 2.10.
	 	Transfers and Exchanges; Certain Transfer Restrictions	  	 	19	 
	 Section 2.11.
	 	Exchange and Cancellation of Notes to Be Converted, Redeemed or Repurchased	  	 	24	 
	 Section 2.12.
	 	Removal of Transfer Restrictions	  	 	25	 
	 Section 2.13.
	 	Replacement Notes	  	 	25	 
	 Section 2.14.
	 	Registered Holders; Certain Rights with Respect to Global Notes	  	 	26	 
	 Section 2.15.
	 	Cancellation	  	 	26	 
	 Section 2.16.
	 	Notes Held by the Company or its Affiliates	  	 	26	 
	 Section 2.17.
	 	Temporary Notes	  	 	26	 
	 Section 2.18.
	 	Outstanding Notes	  	 	27	 
	 Section 2.19.
	 	Repurchases by the Company	  	 	27	 
	 Section 2.20.
	 	CUSIP and ISIN Numbers	  	 	28	 
		
	 Article 3. Covenants
	  	 	28	 
			
	 Section 3.01.
	 	Payment on Notes	  	 	28	 
	 Section 3.02.
	 	Exchange Act Reports	  	 	28	 
	 Section 3.03.
	 	Rule 144A Information	  	 	29	 
	 Section 3.04.
	 	Additional Interest	  	 	29	 
	 Section 3.05.
	 	Compliance and Default Certificates	  	 	30	 
	 Section 3.06.
	 	Stay, Extension and Usury Laws	  	 	30	 
	 Section 3.07.
	 	Corporate Existence	  	 	30	 
	 Section 3.08.
	 	Restriction on Acquisition of Notes by the Company and its Affiliates	  	 	30	 
	 Section 3.09.
	 	Further Instruments and Acts	  	 	31	 
		
	 Article 4. Repurchase and Redemption
	  	 	31	 
			
	 Section 4.01.
	 	No Sinking Fund	  	 	31	 

  
 - i - 

							
	 Section 4.02.
	 	Right of Holders to Require the Company to Repurchase Notes upon a Fundamental Change	  	 	31	 
	 Section 4.03.
	 	Right of the Company to Redeem the Notes	  	 	35	 
		
	 Article 5. Conversion
	  	 	38	 
			
	 Section 5.01.
	 	Right to Convert	  	 	38	 
	 Section 5.02.
	 	Conversion Procedures	  	 	42	 
	 Section 5.03.
	 	Settlement upon Conversion	  	 	44	 
	 Section 5.04.
	 	Reserve and Status of Common Stock Issued upon Conversion	  	 	46	 
	 Section 5.05.
	 	Adjustments to the Conversion Rate	  	 	47	 
	 Section 5.06.
	 	Voluntary Adjustments	  	 	57	 
	 Section 5.07.
	 	Adjustments to the Conversion Rate in Connection with a Make-Whole Fundamental Change	  	 	57	 
	 Section 5.08.
	 	Exchange in Lieu of Conversion	  	 	59	 
	 Section 5.09.
	 	Effect of Common Stock Change Event	  	 	59	 
		
	 Article 6. Successors
	  	 	61	 
			
	 Section 6.01.
	 	When the Company May Merge, Etc.	  	 	61	 
	 Section 6.02.
	 	Successor Corporation Substituted	  	 	61	 
		
	 Article 7. Defaults and Remedies
	  	 	62	 
			
	 Section 7.01.
	 	Events of Default	  	 	62	 
	 Section 7.02.
	 	Acceleration	  	 	64	 
	 Section 7.03.
	 	Sole Remedy for a Failure to Report	  	 	64	 
	 Section 7.04.
	 	Other Remedies	  	 	65	 
	 Section 7.05.
	 	Waiver of Past Defaults	  	 	65	 
	 Section 7.06.
	 	Control by Majority	  	 	66	 
	 Section 7.07.
	 	Limitation on Suits	  	 	66	 
	 Section 7.08.
	 	Absolute Right of Holders to Institute Suit for the Enforcement of the Right to Receive Payment and Conversion Consideration	  	 	67	 
	 Section 7.09.
	 	Collection Suit by Trustee	  	 	67	 
	 Section 7.10.
	 	Trustee May File Proofs of Claim	  	 	67	 
	 Section 7.11.
	 	Priorities	  	 	68	 
	 Section 7.12.
	 	Undertaking for Costs	  	 	68	 
		
	 Article 8. Amendments, Supplements and Waivers
	  	 	68	 
			
	 Section 8.01.
	 	Without the Consent of Holders	  	 	68	 
	 Section 8.02.
	 	With the Consent of Holders	  	 	69	 
	 Section 8.03.
	 	Notice of Amendments, Supplements and Waivers	  	 	70	 
	 Section 8.04.
	 	Revocation, Effect and Solicitation of Consents; Special Record Dates; Etc.	  	 	71	 
	 Section 8.05.
	 	Notations and Exchanges	  	 	71	 
	 Section 8.06.
	 	Trustee to Execute Supplemental Indentures	  	 	71	 
		
	 Article 9. Satisfaction and Discharge
	  	 	72	 
			
	 Section 9.01.
	 	Termination of Company’s Obligations	  	 	72	 
	 Section 9.02.
	 	Repayment to Company	  	 	72	 

  
 - ii - 

							
	 Section 9.03.
	 	Reinstatement	  	 	73	 
		
	 Article 10. Trustee
	  	 	73	 
			
	 Section 10.01.
	 	Duties of the Trustee	  	 	73	 
	 Section 10.02.
	 	Rights of the Trustee	  	 	74	 
	 Section 10.03.
	 	Individual Rights of the Trustee	  	 	75	 
	 Section 10.04.
	 	Trustee’s Disclaimer	  	 	75	 
	 Section 10.05.
	 	Notice of Defaults	  	 	75	 
	 Section 10.06.
	 	Compensation and Indemnity	  	 	76	 
	 Section 10.07.
	 	Replacement of the Trustee	  	 	76	 
	 Section 10.08.
	 	Successor Trustee by Merger, Etc.	  	 	77	 
	 Section 10.09.
	 	Eligibility; Disqualification	  	 	78	 
		
	 Article 11. Miscellaneous
	  	 	78	 
			
	 Section 11.01.
	 	Notices	  	 	78	 
	 Section 11.02.
	 	Delivery of Officer’s Certificate and Opinion of Counsel as to Conditions Precedent	  	 	79	 
	 Section 11.03.
	 	Statements Required in Officer’s Certificate and Opinion of Counsel	  	 	79	 
	 Section 11.04.
	 	Rules by the Trustee, the Registrar and the Paying Agent	  	 	80	 
	 Section 11.05.
	 	No Personal Liability of Directors, Officers, Employees and Stockholders	  	 	80	 
	 Section 11.06.
	 	Governing Law; Waiver of Jury Trial	  	 	80	 
	 Section 11.07.
	 	Submission to Jurisdiction	  	 	80	 
	 Section 11.08.
	 	No Adverse Interpretation of Other Agreements	  	 	81	 
	 Section 11.09.
	 	Successors	  	 	81	 
	 Section 11.10.
	 	Force Majeure	  	 	81	 
	 Section 11.11.
	 	U.S.A. Patriot Act	  	 	81	 
	 Section 11.12.
	 	Calculations	  	 	81	 
	 Section 11.13.
	 	Severability	  	 	81	 
	 Section 11.14.
	 	Counterparts	  	 	82	 
	 Section 11.15.
	 	Table of Contents, Headings, Etc.	  	 	82	 
	 Section 11.16.
	 	Withholding Taxes	  	 	82	 
		
	 Exhibits
	  			
		
	 Exhibit A: Form of Note
	  	 	A-1	 
		
	 Exhibit B-1: Form of Restricted Note
Legend
	  	 	B1-1	 
		
	 Exhibit B-2: Form of Global Note
Legend
	  	 	B2-1	 

  
 - iii - 

 INDENTURE, dated as of February 19, 2019, between Inovio
Pharmaceuticals, Inc., a Delaware corporation, as issuer (the “Company”), and U.S. Bank National Association, as trustee (the “Trustee”). 

Each party to this Indenture (as defined below) agrees as follows for the benefit of the other party and for the equal and
ratable benefit of the Holders (as defined below) of the Company’s 6.50% Convertible Senior Notes due 2024 (the “Notes”). 

Article 1.    DEFINITIONS; RULES OF CONSTRUCTION 

Section 1.01.    DEFINITIONS. 

“Additional Interest” means any interest that accrues on any Note pursuant to
Section 3.04. 
 “Affiliate” has the meaning set forth in Rule 144 as in effect
on the Issue Date. 
 “Authorized Denomination” means, with respect to a Note, a principal amount thereof
equal to $1,000 or any integral multiple of $1,000 in excess thereof. 
 “Bankruptcy Law” means Title 11,
United States Code, or any similar U.S. federal or state or non-U.S. law for the relief of debtors. 

“Bid Solicitation Agent” means the Person who is required to obtain bids for the Trading Price in accordance
with Section 5.01(C)(i)(2) and the definition of “Trading Price.” The initial Bid Solicitation Agent on the Issue Date will be the Company; provided, however, that the Company may appoint any other
Person (including any of its Subsidiaries) to be the Bid Solicitation Agent at any time after the Issue Date without prior notice to any Holder. 

“Board of Directors” means the board of directors of the Company or a committee of such board duly authorized
to act on behalf of such board. 
 “Business Day” means any day other than a Saturday, a Sunday or any day
on which the Federal Reserve Bank of New York is authorized or required by law or executive order to close or be closed. 

“Capital Stock” of any Person means any and all shares of, interests in, rights to purchase, warrants or
options for, participations in, or other equivalents of, in each case however designated, the equity of such Person, but excluding any debt securities convertible into such equity. 

“Close of Business” means 5:00 p.m., New York City time. 

“Common Stock” means the common stock, $0.001 par value per share, of the Company, subject to
Section 5.09. 
 “Company” means the Person named as such in the first paragraph
of this Indenture and, 

  
 - 1 - 

 
subject to Article 6, its successors and assigns. 

“Company Order” means a written request or order signed on behalf of the Company by one (1) of its
Officers and delivered to the Trustee. 
 “Conversion Date” means, with respect to a Note, the first
Business Day on which the requirements set forth in Section 5.02(A) to convert such Note are satisfied. 

“Conversion Price” means, as of any time, an amount equal to (A) one thousand dollars ($1,000)
divided by (B) the Conversion Rate in effect at such time. 
 “Conversion Rate” initially means
185.8045 shares of Common Stock per $1,000 principal amount of Notes, which amount is subject to adjustment pursuant to Article 5. Whenever this Indenture refers to the Conversion Rate as of a particular date without setting forth a
particular time on such date, such reference will be deemed to be to the Conversion Rate immediately after the Close of Business on such date. 

“Conversion Share” means any share of Common Stock issued or issuable upon conversion of any Note. 

“Daily Cash Amount” means, with respect to any VWAP Trading Day, the lesser of (A) the applicable Daily
Maximum Cash Amount; and (B) the Daily Conversion Value for such VWAP Trading Day. 
 “Daily Conversion
Value” means, with respect to any VWAP Trading Day, one-forty-fifth (1/45th) of the product of (A) the Conversion Rate on such VWAP Trading Day; and (B) the Daily VWAP per share of Common
Stock on such VWAP Trading Day. 
 “Daily Maximum Cash Amount” means, with respect to a conversion of any
Note, the quotient obtained by dividing (A) the Specified Dollar Amount applicable to such conversion by (B) forty-five (45). 

“Daily Share Amount” means, with respect to any VWAP Trading Day, the quotient obtained by dividing
(A) the excess, if any, of the Daily Conversion Value for such VWAP Trading Day over the applicable Daily Maximum Cash Amount by (B) the Daily VWAP for such VWAP Trading Day. For the avoidance of doubt, the Daily Share Amount will be zero
for such VWAP Trading Day if such Daily Conversion Value does not exceed such Daily Maximum Cash Amount. 
 “Daily
VWAP” means, for any VWAP Trading Day, the per share volume-weighted average price of the Common Stock as displayed under the heading “Bloomberg VWAP” on Bloomberg page “INO <EQUITY> AQR” (or, if such page is not
available, its equivalent successor page) in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such VWAP Trading Day (or, if such volume-weighted average price is
unavailable, the market value of one share of Common Stock on such VWAP Trading Day, determined, using a volume-weighted average price method, by a 

  
 - 2 - 

 
nationally recognized independent investment banking firm selected by the Company, which may include any of the Initial Purchasers). The Daily VWAP will be determined without regard to
after-hours trading or any other trading outside of the regular trading session. 
 “Default” means any
event that is (or, after notice, passage of time or both, would be) an Event of Default. 
 “Default Settlement
Method” means Combination Settlement with a Specified Dollar Amount of $1,000 per $1,000 principal amount of Notes; provided, however, that the Company may, from time to time, change the Default Settlement Method by sending
notice of the new Default Settlement Method to the Holders, the Trustee and the Conversion Agent (if other than the Trustee). 

“Depositary” means The Depository Trust Company or its successor. 

“Depositary Participant” means any member of, or participant in, the Depositary. 

“Depositary Procedures” means, with respect to any conversion, transfer, exchange or transaction involving a
Global Note or any beneficial interest therein, the rules and procedures of the Depositary applicable to such conversion, transfer, exchange or transaction. 

“Ex-Dividend Date” means, with respect to an issuance, dividend or
distribution on the Common Stock, the first date on which shares of Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive such issuance, dividend or distribution (including pursuant to
due bills or similar arrangements required by the relevant stock exchange). For the avoidance of doubt, any alternative trading convention on the applicable exchange or market in respect of the Common Stock under a separate ticker symbol or CUSIP
number will not be considered “regular way” for this purpose. 
 “Exchange Act” means the U.S.
Securities Exchange Act of 1934, as amended. 
 “Exempted Fundamental Change” means any Fundamental Change
with respect to which, in accordance with Section 4.02(I), the Company does not offer to repurchase any Notes. 

“Free Trade Date” means, with respect to any Note, the date that is one (1) year after the Last Original
Issue Date of such Note. 
 “Freely Tradable” means, with respect to any Note, that such Note would be
eligible to be offered, sold or otherwise transferred pursuant to Rule 144 or otherwise if held by a Person that is not an Affiliate of the Company, and that has not been an Affiliate of the Company during the immediately preceding three
(3) months, without any requirements as to volume, manner of sale, availability of current public information or notice under the Securities Act (except that, during the six (6) month period beginning on, and including, the date that is
six (6) months after the Last Original Issue Date of such Note, any such requirement as to the availability of current public information will be disregarded if the same is satisfied at that time); provided, however, that from and after
the Free Trade Date of such Note, such Note will not be Freely Tradable 

  
 - 3 - 

 
unless such Note (A) is not identified by a “restricted” CUSIP or ISIN number; and (B) is not represented by any certificate that bears the Restricted Note Legend. For the
avoidance of doubt, whether a Note is deemed to be identified by a “restricted” CUSIP or ISIN number or to bear the Restricted Note Legend is subject to Section 2.12. 

“Fundamental Change” means any of the following events: 

(A)        a “person” or “group” (within the meaning of
Section 13(d)(3) of the Exchange Act), other than the Company, any of its Wholly Owned Subsidiaries or any employee benefit plans of the Company or any of its Wholly Owned Subsidiaries, has become and files any report with the SEC indicating
that such person or group has become the direct or indirect “beneficial owner” (as defined below) of shares of the Company’s common equity representing more than fifty percent (50%) of the voting power of all of the Company’s
then-outstanding common equity; provided, however, that, for these purposes, no “person” or “group” will be deemed to be the beneficial owner of any securities tendered pursuant to a tender or exchange offer made by or on
behalf of such “person” or “group” until such tendered securities are accepted for purchase or exchange under such offer; 

(B)        the consummation of (i) any sale, lease or other transfer, in one
transaction or a series of transactions, of all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, to any Person, other than one or more of the Company’s Wholly Owned Subsidiaries; or (ii) any
transaction or series of related transactions in connection with which (whether by means of merger, consolidation, share exchange, combination, reclassification, recapitalization, acquisition, liquidation or otherwise) all of the Common Stock is
exchanged for, converted into, acquired for, or constitutes solely the right to receive, other securities, cash or other property (other than changes resulting solely from a subdivision or combination, or a change in par value, of the Common Stock);
provided, however, that any merger, consolidation, share exchange or combination of the Company pursuant to which the Persons that directly or indirectly “beneficially owned” (as defined below) all classes of the
Company’s common equity immediately before such transaction directly or indirectly “beneficially own,” immediately after such transaction, more than fifty percent (50%) of all classes of common equity of the surviving, continuing or
acquiring company or other transferee, as applicable, or the parent thereof, in substantially the same proportions vis-à-vis each other as immediately before such
transaction will be deemed not to be a Fundamental Change pursuant to this clause (B); 

(C)        the Company’s stockholders approve any plan or proposal for the
liquidation or dissolution of the Company; or 
 (D)        the Common Stock ceases
to be listed on any of The New York Stock Exchange, The NASDAQ Global Market, The NASDAQ Global Select Market or the NASDAQ Capital Market (or any of their respective successors); 

provided, however, that a transaction or event described in clause (A) or (B) above will not constitute a
Fundamental Change if at least ninety percent (90%) of the consideration received or to be received by the holders of Common Stock (excluding cash payments for fractional shares or pursuant to dissenters rights), in connection with such transaction
or event, consists of shares of common stock listed (or depositary receipts or shares representing shares of common stock, 

  
 - 4 - 

 
which depositary receipts or shares are listed) on any of The New York Stock Exchange, The NASDAQ Global Market, The NASDAQ Global Select Market or the NASDAQ Capital Market (or any of their
respective successors), or that will be so listed when issued or exchanged in connection with such transaction or event, and such transaction or event constitutes a Common Stock Change Event whose Reference Property consists of such consideration.
For purposes of this definition, any transaction or event described in both clause (A) and in clause (B)(i) or (ii) above (without regard to the proviso in clause (B)) will be deemed to occur
solely pursuant to clause (B) above (subject to such proviso). 
 For the purposes of this definition,
whether a Person is a “beneficial owner” and whether shares are “beneficially owned” will be determined in accordance with Rule 13d-3 under the Exchange Act. 

“Fundamental Change Repurchase Date” means the date fixed for the repurchase of any Notes by the Company
pursuant to a Repurchase Upon Fundamental Change. The Fundamental Change Repurchase Date must satisfy Section 4.02(C). 

“Fundamental Change Repurchase Notice” means a notice (including a notice substantially in the form of the
“Fundamental Change Repurchase Notice” set forth in Exhibit A) containing the information, or otherwise complying with the requirements, set forth in Section 4.02(F)(i) and
Section 4.02(F)(ii). 
 “Fundamental Change Repurchase Price” means the cash
price payable by the Company to repurchase any Note upon its Repurchase Upon Fundamental Change, calculated pursuant to Section 4.02(D). 

“Global Note” means a Note that is represented by a certificate substantially in the form set forth in
Exhibit A, registered in the name of the Depositary or its nominee, duly executed by the Company and deposited with the Trustee, as custodian for the Depositary. 

“Global Note Legend” means a legend substantially in the form set forth in Exhibit B-2. 
 “Holder” means a person in whose name a Note is registered on
the Registrar’s books for the Notes. 
 “Indenture” means this Indenture, as amended or supplemented
from time to time. 
 “Initial Purchasers” means Piper Jaffray & Co. and Cantor
Fitzgerald & Co.. 
 “Interest Payment Date” means, with respect to a Note, each March 1 and
September 1 of each year, commencing on September 1, 2019 (or such other date specified in the certificate representing such Note). For the avoidance of doubt the Maturity Date is an Interest Payment Date. 

“Issue Date” means February 19, 2019. 

  
 - 5 - 

 “Last Original Issue Date” means (A) with respect to
any Notes issued pursuant to the Purchase Agreement, (including any Notes issued pursuant to the exercise of the Shoe Option by the Initial Purchasers), and any Notes issued in exchange therefor or in substitution thereof, the later of (i) the
Issue Date and (ii) the last date any Notes are originally issued pursuant to the exercise of the Shoe Option; and (B) with respect to any Notes issued pursuant to Section 2.03(B), and any Notes issued in exchange
therefor or in substitution thereof, either (i) the later of (x) the date such Notes are originally issued and (y) the last date any Notes are originally issued as part of the same offering pursuant to the exercise of an option
granted to the initial purchaser(s) of such Notes to purchase additional Notes; or (ii) such other date as is specified in an Officer’s Certificate delivered to the Trustee before the original issuance of such Notes. 

“Last Reported Sale Price” of the Common Stock for any Trading Day means the closing sale price per share
(or, if no closing sale price is reported, the average of the last bid price and the last ask price per share or, if more than one in either case, the average of the average last bid prices and the average last ask prices per share) of Common Stock
on such Trading Day as reported in composite transactions for the principal U.S. national or regional securities exchange on which the Common Stock is then listed. If the Common Stock is not listed on a U.S. national or regional securities exchange
on such Trading Day, then the Last Reported Sale Price will be the last quoted bid price per share of Common Stock on such Trading Day in the over-the-counter market as
reported by OTC Markets Group Inc. or a similar organization. If the Common Stock is not so quoted on such Trading Day, then the Last Reported Sale Price will be the average of the mid-point of the last bid
price and the last ask price per share of Common Stock on such Trading Day from each of at least three (3) nationally recognized independent investment banking firms selected by the Company, which may include any of the Initial Purchasers.
Neither the Trustee nor the Conversion Agent will have any duty to determine the Last Reported Sale Price. The Last Reported Sale Price will be determined without regard to after-hours trading or any other trading outside of the regular trading
session. 
 “Make-Whole Fundamental Change” means (A) a Fundamental Change (determined after giving
effect to the proviso immediately after clause (D) of the definition thereof, but without regard to the proviso to clause (B)(ii) of the definition thereof); or (B) the sending of any Redemption Notice pursuant to
Section 4.03; provided, however, that, subject to Section 4.03(I), the sending of any such Redemption Notice will constitute a Make-Whole Fundamental Change only with respect to the Notes
called for Redemption pursuant to such Redemption Notice and not with respect to any other Notes. 
 “Make-Whole
Fundamental Change Conversion Period” has the following meaning: 

(A)        in the case of a Make-Whole Fundamental Change pursuant to clause
(A) of the definition thereof, the period from, and including, the Make-Whole Fundamental Change Effective Date of such Make-Whole Fundamental Change to, and including, the thirty fifth (35th) Trading Day after such Make-Whole
Fundamental Change Effective Date (or, if such Make-Whole Fundamental Change also constitutes a Fundamental Change (other than an Exempted Fundamental Change), to, but excluding, the related Fundamental Change Repurchase Date); and 

  
 - 6 - 

 (B)        in the case of a
Make-Whole Fundamental Change pursuant to clause (B) of the definition thereof, the period from, and including, the date the Company sends the Redemption Notice for the related Redemption to, and including, the Business Day immediately
before the related Redemption Date; 
 provided, however, that if the Conversion Date for the conversion of a Note occurs
during the Make-Whole Fundamental Change Conversion Period for both a Make-Whole Fundamental Change occurring pursuant to clause (A) of the definition of Make-Whole Fundamental Change and a Make-Whole Fundamental Change occurring
pursuant to clause (B) of such definition, then, solely for purposes of such conversion, (i) such Conversion Date will be deemed to occur solely during the Make-Whole Fundamental Change Conversion Period for the Make-Whole
Fundamental Change with the earlier Make-Whole Fundamental Change Effective Date; and (ii) the Make-Whole Fundamental Change with the later Make-Whole Fundamental Change Effective Date will be deemed not to have occurred. 

“Make-Whole Fundamental Change Effective Date” means (A) with respect to a Make-Whole Fundamental Change
pursuant to clause (A) of the definition thereof, the date on which such Make-Whole Fundamental Change occurs or becomes effective; and (B) with respect to a Make-Whole Fundamental Change pursuant to clause (B) of the
definition thereof, the applicable Redemption Notice Date. 
 “Market Disruption Event” means, with respect
to any date, the occurrence or existence, during the one-half hour period ending at the scheduled close of trading on such date on the principal U.S. national or regional securities exchange or other market on
which the Common Stock is listed for trading or trades, of any material suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant exchange or otherwise) in the Common Stock or in any
options, contracts or futures contracts relating to the Common Stock. 
 “Maturity Date” means
March 1, 2024. 
 “Note Agent” means any Registrar, Paying Agent or Conversion Agent. 

“Notes” means the 6.50% Convertible Senior Notes due 2024 issued by the Company pursuant to this Indenture.

 “Observation Period” means, with respect to any Note to be converted, (A) subject to clause
(B) below, if the Conversion Date for such Note occurs on or before the fiftieth (50th) Scheduled Trading Day immediately before the Maturity Date, the forty-five (45) consecutive VWAP Trading Days beginning on, and including, the
third (3rd) VWAP Trading Day immediately after such Conversion Date; (B) if such Conversion Date occurs on or after the date the Company has sent a Redemption Notice calling such Note for Redemption pursuant to
Section 4.03(F) and before the related Redemption Date, the forty-five (45) consecutive VWAP Trading Days beginning on, and including, the forty-sixth (46th) Scheduled Trading Day immediately before such Redemption
Date; and (C) subject to clause (B) above, if such 

  
 - 7 - 

 
Conversion Date occurs after the fiftieth (50th) Scheduled Trading Day immediately before the Maturity Date, the forty-five (45) consecutive VWAP Trading Days beginning on, and including,
the forty-sixth (46th) Scheduled Trading Day immediately before the Maturity Date. 
 “Officer” means the
Chairman of the Board of Directors, the Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the General Counsel, the Chief Medical Officer, the Chief Scientific Officer, the Treasurer, any Assistant
Treasurer, the Controller, the Secretary or any Vice-President of the Company. 
 “Officer’s
Certificate” means a certificate that is signed on behalf of the Company by one (1) of its Officers and that meets the requirements of Section 11.03 if and to the extent required by the provisions thereof.

 “Open of Business” means 9:00 a.m., New York City time. 

“Opinion of Counsel” means an opinion, from legal counsel (including an employee of, or counsel to, the
Company or any of its Subsidiaries) reasonably acceptable to the Trustee, that meets the requirements of Section 11.03, subject to customary qualifications and exclusions. 

“Person” or “person” means any individual, corporation, partnership, limited liability
company, joint venture, association, joint-stock company, trust, unincorporated organization or government or other agency or political subdivision thereof. Any division or series of a limited liability company, limited partnership or trust will
constitute a separate “person.” 
 “Physical Note” means a Note (other than a Global Note) that
is represented by a certificate substantially in the form set forth in Exhibit A, registered in the name of the Holder of such Note and duly executed by the Company and authenticated by the Trustee. 

“Purchase Agreement” means that certain Purchase Agreement, dated February 13, 2019, between the Company
and the Initial Purchasers. 
 “Redemption” means the repurchase of any Note by the Company pursuant to
Section 4.03. 
 “Redemption Date” means the date fixed for the repurchase of any
Notes by the Company pursuant to a Redemption. 
 “Redemption Notice Date” means, with respect to a
Redemption, the date on which the Company sends the Redemption Notice for such Redemption pursuant to Section 4.03(F). 

“Redemption Price” means the cash price payable by the Company to redeem any Note upon its Redemption,
calculated pursuant to Section 4.03(E). 
 “Regular Record Date” has the
following meaning with respect to an Interest Payment Date: (A) if such Interest Payment Date occurs on March 1, the immediately preceding February 15; and (B) if such Interest Payment Date occurs on September 1, the immediately
preceding 

  
 - 8 - 

 
August 15. 
 “Repurchase Upon Fundamental Change”
means the repurchase of any Note by the Company pursuant to Section 4.02. 
 “Responsible
Officer” means any officer within the corporate trust department of the Trustee (or any successor group of the Trustee) or any other officer of the Trustee customarily performing functions similar to those performed by any of such officers
or, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his or her knowledge of, and familiarity with, the particular subject and who will have direct responsibility for the
administration of this Indenture. 
 “Restricted Note Legend” means a legend substantially in the form set
forth in Exhibit B-1. 
 “Restricted Stock Legend” means,
with respect to any Conversion Share, a legend substantially to the effect that the offer and sale of such Conversion Share have not been registered under the Securities Act and that such Conversion Share cannot be sold or otherwise transferred
except pursuant to a transaction that is registered under the Securities Act or that is exempt from, or not subject to, the registration requirements of the Securities Act. 

“Rule 144” means Rule 144 under the Securities Act (or any successor rule thereto), as the same may be
amended from time to time. 
 “Rule 144A” means Rule 144A under the Securities Act (or any successor rule
thereto), as the same may be amended from time to time. 
 “Scheduled Trading Day” means any day that is
scheduled to be a Trading Day on the principal U.S. national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal
other market on which the Common Stock is then traded. If the Common Stock is not so listed or traded, then “Scheduled Trading day” means a Business Day. 

“SEC” means the U.S. Securities and Exchange Commission. 

“Securities Act” means the U.S. Securities Act of 1933, as amended. 

“Security” means any Note or Conversion Share. 

“Settlement Method” means Cash Settlement, Physical Settlement or Combination Settlement. 

“Shoe Option” means the Initial Purchasers’ option to purchase up to twenty-million dollars
($20,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement, five million dollars ($5,000,000) of which has been exercised for settlement on the Issue Date. 

  
 - 9 - 

 “Significant Subsidiary” means, with respect to any Person,
any Subsidiary of such Person that constitutes, or any group of Subsidiaries of such Person that, in the aggregate, would constitute, a “significant subsidiary” (as defined in Rule 1-02(w) of
Regulation S-X under the Exchange Act) of such Person; provided, however, that, if a Subsidiary meets the criteria of clause (3), but not clause (1) or (2), of the definition of
“significant subsidiary” in Rule 1-02(w), then such Subsidiary will not be deemed to be a Significant Subsidiary of such Person unless such Subsidiary’s or group’s income from continuing
operations before income taxes, exclusive of amounts attributable to any non-controlling interests, for the last completed fiscal year before the date of determination exceeds ten million dollars
($10,000,000). 
 “Special Interest” means any interest that accrues on any Note pursuant to
Section 7.03. 
 “Specified Dollar Amount” means, with respect to the conversion
of a Note to which Combination Settlement applies, the maximum cash amount per $1,000 principal amount of such Note deliverable upon such conversion (excluding cash in lieu of any fractional share of Common Stock). 

“Stock Price” has the following meaning for any Make-Whole Fundamental Change: (A) if the holders of
Common Stock receive only cash in consideration for their shares of Common Stock in such Make-Whole Fundamental Change and such Make-Whole Fundamental Change is pursuant to clause (B) of the definition of “Fundamental Change,”
then the Stock Price is the amount of cash paid per share of Common Stock in such Make-Whole Fundamental Change; and (B) in all other cases, the Stock Price is the average of the Last Reported Sale Prices per share of Common Stock for the five
(5) consecutive Trading Days ending on, and including, the Trading Day immediately before the Make-Whole Fundamental Change Effective Date of such Make-Whole Fundamental Change. 

“Subsidiary” means, with respect to any Person, (A) any corporation, association or other business
entity (other than a partnership or limited liability company) of which more than fifty percent (50%) of the total voting power of the Capital Stock entitled (without regard to the occurrence of any contingency, but after giving effect to any voting
agreement or stockholders’ agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees, as applicable, of such corporation, association or other business entity is owned or controlled, directly
or indirectly, by such Person or one or more of the other Subsidiaries of such Person; and (B) any partnership or limited liability company where (i) more than fifty percent (50%) of the capital accounts, distribution rights, equity and
voting interests, or of the general and limited partnership interests, as applicable, of such partnership or limited liability company are owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of such
Person, whether in the form of membership, general, special or limited partnership or limited liability company interests or otherwise; and (ii) such Person or any one or more of the other Subsidiaries of such Person is a controlling general
partner of, or otherwise controls, such partnership or limited liability company. 
 “Trading Day” means
any day on which (A) trading in the Common Stock generally occurs on the principal U.S. national or regional securities exchange on which the Common 

  
 - 10 - 

 
Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then traded; and
(B) there is no Market Disruption Event. If the Common Stock is not so listed or traded, then “Trading Day” means a Business Day. 

“Trading Price” of the Notes on any Trading Day means the average of the secondary market bid quotations,
expressed as a cash amount per $1,000 principal amount of Notes, obtained by the Bid Solicitation Agent for one million dollars ($1,000,000) in principal amount of Notes at approximately 3:30 p.m., New York City time, on such Trading Day from three
(3) nationally recognized independent securities dealers selected by the Company, which may include any of the Initial Purchasers; provided, however, that, if three (3) such bids cannot reasonably be obtained by the Bid
Solicitation Agent but two (2) such bids are obtained, then the average of the two (2) bids will be used, and if only one (1) such bid can reasonably be obtained by the Bid Solicitation Agent, then that one (1) bid will be used.
If, on any Trading Day, (A) the Bid Solicitation Agent cannot reasonably obtain at least one (1) bid for one million dollars ($1,000,000) in principal amount of Notes from a nationally recognized independent securities dealer; (B) the
Company is not acting as the Bid Solicitation Agent and the Company fails to instruct the Bid Solicitation Agent to obtain bids when required; or (C) the Bid Solicitation Agent fails to solicit bids when required, then, in each case, the
Trading Price per $1,000 principal amount of Notes on such Trading Day will be deemed to be less than ninety eight percent (98%) of the product of the Last Reported Sale Price per share of Common Stock on such Trading Day and the Conversion Rate on
such Trading Day. 
 “Transfer-Restricted Security” means any Security that constitutes a “restricted
security” (as defined in Rule 144); provided, however, that such Security will cease to be a Transfer-Restricted Security upon the earliest to occur of the following events: 

(A)        such Security is sold or otherwise transferred to a Person (other than the
Company or an Affiliate of the Company) pursuant to a registration statement that was effective under the Securities Act at the time of such sale or transfer; 

(B)        such Security is sold or otherwise transferred to a Person (other than the
Company or an Affiliate of the Company) pursuant to an available exemption (including Rule 144) from the registration and prospectus-delivery requirements of, or in a transaction not subject to, the Securities Act and, immediately after such sale or
transfer, such Security ceases to constitute a “restricted security” (as defined in Rule 144); and 

(C)        such Security is eligible for resale, by a Person that is not an Affiliate
of the Company and that has not been an Affiliate of the Company during the immediately preceding three (3) months, pursuant to Rule 144 without any limitations thereunder as to volume, manner of sale, availability of current public information
or notice. 
 The Trustee is under no obligation to determine whether any Security is a Transfer-Restricted Security and may
conclusively rely on an Officer’s Certificate with respect thereto. 
 “Trust Indenture Act” means the
U.S. Trust Indenture Act of 1939, as amended. 

  
 - 11 - 

 “Trustee” means the Person named as such in the first
paragraph of this Indenture until a successor replaces it in accordance with the provisions of this Indenture and, thereafter, means such successor. 

“VWAP Market Disruption Event” means, with respect to any date, (A) the failure by the principal U.S.
national or regional securities exchange on which the Common Stock is then listed, or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, the principal other market on which the Common Stock is then traded, to
open for trading during its regular trading session on such date; or (B) the occurrence or existence, for more than one half hour period in the aggregate, of any suspension or limitation imposed on trading (by reason of movements in price
exceeding limits permitted by the relevant exchange or otherwise) in the Common Stock or in any options contracts or futures contracts relating to the Common Stock, and such suspension or limitation occurs or exists at any time before 1:00 p.m., New
York City time, on such date. 
 “VWAP Trading Day” means a day on which (A) there is no VWAP Market
Disruption Event; and (B) trading in the Common Stock generally occurs on the principal U.S. national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or
regional securities exchange, on the principal other market on which the Common Stock is then traded. If the Common Stock is not so listed or traded, then “VWAP Trading Day” means a Business Day. 

“Wholly Owned Subsidiary” of a Person means any Subsidiary of such Person all of the outstanding Capital
Stock or other ownership interests of which (other than directors’ qualifying shares) are owned by such Person or one or more Wholly Owned Subsidiaries of such Person. 

Section 1.02.    OTHER DEFINITIONS. 

 

							
	Term	  	  	 	  	Defined in
Section
	 	  				  	 
	 “Acceleration”
	  				  	7.01(A)
	 “Additional Shares”
	  				  	5.07(A)
	 “Business Combination Event”
	  				  	6.01(A)
	 “Cash Settlement”
	  				  	5.03(A)
	 “Combination Settlement”
	  				  	5.03(A)
	 “Common Stock Change Event”
	  				  	5.09(A)
	 “Conversion Agent”
	  				  	2.06(A)
	 “Conversion Consideration”
	  				  	5.03(B)
	 “Default Interest”
	  				  	2.05(B)
	 “Defaulted Amount”
	  				  	2.05(B)
	 “Event of Default”
	  				  	7.01(A)
	 “Exchange Election”
	  				  	5.08
	 “Expiration Date”
	  				  	5.05(A)(v)
	 “Expiration Time”
	  				  	5.05(A)(v)
	 “Fundamental Change Notice”
	  				  	4.02(E)
	 “Fundamental Change Repurchase Right”
	  				  	4.02(A)

  
 - 12 - 

					
	 “Initial Notes”
	  	   
	  	2.03(A)
	 “Measurement Period”
	  		  	5.01(C)(i)(2)
	 “Paying Agent”
	  		  	2.06(A)
	 “Physical Settlement”
	  		  	5.03(A)
	 “Redemption Notice”
	  		  	4.03(F)
	 “Reference Price”
	  		  	5.05(A)(v)
	 “Reference Property”
	  		  	5.09(A)
	 “Reference Property Unit”
	  		  	5.09(A)
	 “Register”
	  		  	2.06(B)
	 “Registrar”
	  		  	2.06(A)
	 “Reporting Event of Default”
	  		  	7.03(A)
	 “Specified Courts”
	  		  	11.07
	 “Spin-Off”
	  		  	5.05(A)(iii)(2)
	 “Spin-Off Valuation Period”
	  		  	5.05(A)(iii)(2)
	 “Stated Interest”
	  		  	2.05(A)
	 “Successor Corporation”
	  		  	6.01(A)
	 “Successor Person”
	  		  	5.09(A)
	 “Tender/Exchange Offer Valuation Period”
	  		  	5.05(A)(v)
	 “Trading Price Condition”
	  		  	5.01(C)(i)(2)

 Section 1.03.    RULES OF CONSTRUCTION. 

For purposes of this Indenture: 

(A)        “or” is not exclusive; 

(B)        “including” means “including without limitation”; 

(C)        “will” expresses a command; 

(D)        words in the singular include the plural and in the plural include the
singular, unless the context requires otherwise; 
 (E)        “herein,”
“hereof” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision of this Indenture, unless the context requires otherwise; 

(F)        references to currency mean the lawful currency of the United States of
America, unless the context requires otherwise; 
 (G)        the exhibits,
schedules and other attachments to this Indenture are deemed to form part of this Indenture; and 

(H)        the term “interest,” when used with respect to a Note,
includes any Additional Interest and Special Interest, unless the context requires otherwise. 

  
 - 13 - 

 Article 2.    THE NOTES 

Section 2.01.    FORM, DATING AND DENOMINATIONS. 

The Notes and the Trustee’s certificate of authentication will be substantially in the form set forth in Exhibit
A. The Notes will bear the legends required by Section 2.09 and may bear notations, legends or endorsements required by law, stock exchange rule or usage or the Depositary. Each Note will be dated as of the date of its
authentication. 
 Except to the extent otherwise provided in a Company Order delivered to the Trustee in connection with
the issuance and authentication thereof, the Notes will be issued initially in the form of one or more Global Notes. Global Notes may be exchanged for Physical Notes, and Physical Notes may be exchanged for Global Notes, only as provided in
Section 2.10. 
 The Notes will be issuable only in registered form without interest coupons and
only in Authorized Denominations. 
 Each certificate representing a Note will bear a unique registration number that is not
affixed to any other certificate representing another outstanding Note. 
 The terms contained in the Notes constitute part
of this Indenture, and, to the extent applicable, the Company and the Trustee, by their execution and delivery of this Indenture, agree to such terms and to be bound thereby; provided, however, that, to the extent that any provision of
any Note conflicts with the provisions of this Indenture, the provisions of this Indenture will control for purposes of this Indenture and such Note. 

Section 2.02.    EXECUTION, AUTHENTICATION AND DELIVERY. 

(A)        Due Execution by the Company. At least one (1) duly authorized
Officer will sign the Notes on behalf of the Company by manual or facsimile signature. A Note’s validity will not be affected by the failure of any Officer whose signature is on any Note to hold, at the time such Note is authenticated, the same
or any other office at the Company. 
 (B)        Authentication by the Trustee
and Delivery. 
 (i)      No Note will be valid until it is authenticated
by the Trustee. A Note will be deemed to be duly authenticated only when an authorized signatory of the Trustee (or a duly appointed authenticating agent) manually signs the certificate of authentication of such Note. 

(ii)      The Trustee will cause an authorized signatory of the Trustee (or a
duly appointed authenticating agent) to manually sign the certificate of authentication of a Note only if (1) the Company delivers such Note to the Trustee; (2) such Note is executed by the Company in accordance with
Section 2.02(A); and (3) the Company delivers a Company Order to the Trustee that (a) requests the Trustee to authenticate such Note; and (b) sets forth the name of the Holder of such Note and the date as of
which such Note is to be authenticated. If such Company Order also requests the Trustee to deliver such 

  
 - 14 - 

 
Note to any Holder or to the Depositary, then the Trustee will promptly deliver such Note in accordance with such Company Order. 

(iii)    The Trustee may appoint an authenticating agent acceptable to the Company to
authenticate Notes. A duly appointed authenticating agent may authenticate Notes whenever the Trustee may do so under this Indenture, and a Note authenticated as provided in this Indenture by such an agent will be deemed, for purposes of this
Indenture, to be authenticated by the Trustee. Each duly appointed authenticating agent will have the same rights to deal with the Company as the Trustee would have if it were performing the duties that the authentication agent was validly appointed
to undertake. 
 Section 2.03.    INITIAL NOTES AND ADDITIONAL
NOTES. 
 (A)        Initial Notes. On the Issue Date,
there will be originally issued seventy million dollars ($70,000,000) aggregate principal amount of Notes, subject to the provisions of this Indenture (including Section 2.02). If the Initial Purchasers exercise the
remaining portion of the Shoe Option, then there will be originally issued up to an additional fifteen million dollars ($15,000,000) principal amount of Notes pursuant to such exercise, subject to the provisions of this Indenture (including
Section 2.02). Notes issued pursuant to this Section 2.03(A), and any Notes issued in exchange therefor or in substitution thereof, are referred to in this Indenture as the “Initial
Notes.” 
 (B)        Additional Notes. The Company may, subject to
the provisions of this Indenture (including Section 2.02), originally issue additional Notes with the same terms as the initial Notes (except, to the extent applicable, with respect to the date as of which interest begins
to accrue on such additional Notes and the first Interest Payment Date and the Last Original Issue Date of such additional Notes), which additional Notes will, subject to the foregoing, be considered to be part of the same series of, and rank
equally and ratably with all other, Notes issued under this Indenture; provided, however, that if any such additional Notes are not fungible with other Notes issued under this Indenture for federal income tax or federal securities laws
purposes, then such additional Notes will be identified by a separate CUSIP number or by no CUSIP number. In authenticating additional Notes, the Trustee will receive: 

(i)        a copy of the resolution or resolutions of the Board of
Directors in or pursuant to which the terms and form of the Notes were established, and if the terms and form of such Notes are established by an Officer’s Certificate pursuant to general authorization of the Board of Directors, such
Officer’s Certificate; 
 (ii)        an executed supplemental
indenture, if any; and 
 (iii)       an Opinion of Counsel which will
state: 
 (1)        that the form and terms of such Notes have
been established in conformity with the provisions of this Indenture; and 

(2)        that such Notes, when authenticated and delivered by the
Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations 

  
 - 15 - 

 
of the Company, enforceable in accordance with their terms, subject to bankruptcy, insolvency, reorganization and other laws of general applicability relating to or affecting the enforcement of
creditors’ rights and to general equity principles. 
 Section 2.04.    METHOD OF
PAYMENT. 
 (A)        Global Notes. The Company will pay,
or cause the Paying Agent to pay, the principal (whether due upon maturity on the Maturity Date, Redemption on a Redemption Date or repurchase on a Fundamental Change Repurchase Date or otherwise) of, interest on, and any cash Conversion
Consideration for, any Global Note to the Depositary by wire transfer of immediately available funds no later than the time the same is due as provided in this Indenture. 

(B)        Physical Notes. The Company will pay, or cause the Paying Agent to
pay, the principal (whether due upon maturity on the Maturity Date, Redemption on a Redemption Date or repurchase on a Fundamental Change Repurchase Date or otherwise) of, interest on, and any cash Conversion Consideration for, any Physical Note no
later than the time the same is due as provided in this Indenture as follows: (i) if the principal amount of such Physical Note is at least five million dollars ($5,000,000) (or such lower amount as the Company may choose in its sole and
absolute discretion) and the Holder of such Physical Note entitled to such payment has delivered to the Paying Agent or the Trustee, no later than the time set forth in the immediately following sentence, a written request that the Company make such
payment by wire transfer to an account of such Holder within the United States, by wire transfer of immediately available funds to such account; and (ii) in all other cases, by check mailed to the address of the Holder of such Physical Note
entitled to such payment as set forth in the Register. To be timely, such written request must be so delivered no later than the Close of Business on the following date: (x) with respect to the payment of any interest due on an Interest Payment
Date, the immediately preceding Regular Record Date; (y) with respect to any cash Conversion Consideration, the relevant Conversion Date; and (z) with respect to any other payment, the date that is fifteen (15) calendar days
immediately before the date such payment is due. 
 Section 2.05.    ACCRUAL OF
INTEREST; DEFAULTED AMOUNTS; WHEN PAYMENT DATE IS NOT A BUSINESS DAY. 

(A)        Accrual of Interest. Each Note will accrue interest at a rate per
annum equal to 6.50% (the “Stated Interest”), plus any Additional Interest and Special Interest that may accrue pursuant to Sections 3.04 and 7.03, respectively. Stated Interest on each Note will (i) accrue
from, and including, the most recent date to which Stated Interest has been paid or duly provided for (or, if no Stated Interest has theretofore been paid or duly provided for, the date set forth in the certificate representing such Note as the date
from, and including, which Stated Interest will begin to accrue in such circumstance) to, but excluding, the next date of payment of such Stated Interest; and (ii) be, subject to Sections 4.02(D), 4.03(E) and 5.02(D)
(but without duplication of any payment of interest), payable semi-annually in arrears on each Interest Payment Date, beginning on the first Interest Payment Date set forth in the certificate representing such Note, to the Holder of such Note as of
the Close of Business on the immediately preceding Regular Record Date. Stated Interest, and, if applicable, Additional Interest and Special Interest, on the Notes will be computed on the basis of a 360-day
year comprised of twelve 30-day months. 

  
 - 16 - 

 (B)        Defaulted Amounts.
If the Company fails to pay any amount (a “Defaulted Amount”) payable on a Note on or before the due date therefor as provided in this Indenture, then, regardless of whether such failure constitutes an Event of Default,
(i) such Defaulted Amount will forthwith cease to be payable to the Holder of such Note otherwise entitled to such payment; (ii) to the extent lawful, interest (“Default Interest”) will accrue on such Defaulted Amount at a
rate per annum equal to the rate per annum at which Stated Interest accrues, from, and including, such due date to, but excluding, the date of payment of such Defaulted Amount and Default Interest; (iii) such Defaulted Amount and Default
Interest will be paid on a payment date selected by the Company to the Holder of such Note as of the Close of Business on a special record date selected by the Company, provided that such special record date must be no more than fifteen (15),
nor less than ten (10), calendar days before such payment date; and (iv) at least fifteen (15) calendar days before such special record date, the Company will send notice to the Trustee and the Holders that states such special record date,
such payment date and the amount of such Defaulted Amount and Default Interest to be paid on such payment date. 

(C)        Delay of Payment when Payment Date is Not a Business Day. If the due
date for a payment on a Note as provided in this Indenture is not a Business Day, then, notwithstanding anything to the contrary in this Indenture or the Notes, such payment may be made on the immediately following Business Day and no interest will
accrue on such payment as a result of the related delay. Solely for purposes of the immediately preceding sentence, a day on which the applicable place of payment is authorized or required by law or executive order to close or be closed will be
deemed not to be a “Business Day.” 
 Section 2.06.    REGISTRAR, PAYING
AGENT AND CONVERSION AGENT. 

(A)        Generally. The Company will maintain (i) an office or agency in
the continental United States where Notes may be presented for registration of transfer or for exchange (the “Registrar”); (ii) an office or agency in the continental United States where Notes may be presented for payment (the
“Paying Agent”); and (iii) an office or agency in the continental United States where Notes may be presented for conversion (the “Conversion Agent”). If the Company fails to maintain a Registrar, Paying Agent
or Conversion Agent, then the Trustee will act as such. For the avoidance of doubt, the Company or any of its Subsidiaries may act as Registrar, Paying Agent or Conversion Agent. 

(B)        Duties of the Registrar. The Registrar will keep a record (the
“Register”) of the names and addresses of the Holders, the Notes held by each Holder and the transfer, exchange, repurchase, Redemption and conversion of Notes. Absent manifest error, the entries in the Register will be conclusive
and the Company and the Trustee may treat each Person whose name is recorded as a Holder in the Register as a Holder for all purposes. The Register will be in written form or in any form capable of being converted into written form reasonably
promptly. 
 (C)        Co-Agents;
Company’s Right to Appoint Successor Registrars, Paying Agents and Conversion Agents. The Company may appoint one or more co-Registrars, co-Paying Agents and co-Conversion Agents, each of whom will be deemed to be a Registrar, Paying Agent or Conversion Agent, as applicable, under this Indenture. Subject to Section 2.06(A), the Company may
change any Registrar, Paying Agent or Conversion Agent (including appointing itself or any of its Subsidiaries to act in such capacity) without prior notice to any Holder. The Company will 

  
 - 17 - 

 
notify the Trustee (and, upon request, any Holder) of the name and address of each Note Agent, if any, not a party to this Indenture and will enter into an appropriate agency agreement with each
such Note Agent, which agreement will implement the provisions of this Indenture that relate to such Note Agent. 

(D)        Initial Appointments. The Company appoints the Trustee as the
initial Paying Agent, the initial Registrar and the initial Conversion Agent. 
 Section 2.07.    PAYING
AGENT AND CONVERSION AGENT TO HOLD PROPERTY IN TRUST. 

The Company will require each Paying Agent or Conversion Agent that is not the Trustee to agree in writing that such Note
Agent will (A) hold in trust for the benefit of Holders or the Trustee all money and other property held by such Note Agent for payment or delivery due on the Notes; and (B) notify the Trustee of any default by the Company in making any
such payment or delivery. The Company, at any time, may, and the Trustee, while any Default continues, may, require a Paying Agent or Conversion Agent to pay or deliver, as applicable, all money and other property held by it to the Trustee, after
which payment or delivery, as applicable, such Note Agent (if not the Company or any of its Subsidiaries) will have no further liability for such money or property. If the Company or any of its Subsidiaries acts as Paying Agent or Conversion Agent,
then (A) it will segregate and hold in a separate account for the benefit of the Holders or the Trustee all money and other property held by it as Paying Agent or Conversion Agent; and (B) references in this Indenture or the Notes to the
Paying Agent or Conversion Agent holding cash or other property, or to the delivery of cash or other property to the Paying Agent or Conversion Agent, in each case for payment or delivery to any Holders or the Trustee or with respect to the Notes,
will be deemed to refer to cash or other property so segregated and held separately, or to the segregation and separate holding of such cash or other property, respectively. Upon the occurrence of any event in clause (ix) or
(x) of Section 7.01(A) with respect to the Company (or with respect to any Subsidiary of the Company acting as Paying Agent or Conversion Agent), the Trustee will serve as the Paying Agent or Conversion Agent, as
applicable, for the Notes. 
 Section 2.08.    HOLDER LISTS. 

If the Trustee is not the Registrar, the Company will furnish to the Trustee, no later than seven (7) Business Days
before each Interest Payment Date, and at such other times as the Trustee may request, a list, in such form and as of such date or time as the Trustee may reasonably require, of the names and addresses of the Holders. 

Section 2.09.    LEGENDS. 

(A)        Global Note Legend. Each Global Note will bear the Global Note
Legend (or any similar legend, not inconsistent with this Indenture, required by the Depositary for such Global Note). 

(B)        Restricted Note Legend. Subject to
Section 2.12, 
 (i)      each Note that is a
Transfer-Restricted Security will bear the Restricted 

  
 - 18 - 

 
Note Legend; and 

(ii)      if a Note is issued in exchange for, in substitution of, or to effect
a partial conversion of, another Note (such other Note being referred to as the “old Note” for purposes of this Section 2.09(B)(ii)), including pursuant to Section 2.10(B), 2.10(C), 2.11
or 2.13, such Note will bear the Restricted Note Legend if such old Note bore the Restricted Note Legend at the time of such exchange or substitution, or on the related Conversion Date with respect to such conversion, as applicable;
provided, however, that such Note need not bear the Restricted Note Legend if such Note does not constitute a Transfer-Restricted Security immediately after such exchange or substitution, or as of such Conversion Date, as applicable.

 (C)        Other Legends. A Note may bear any other legend or text, not
inconsistent with this Indenture, as may be required by applicable law or by any securities exchange or automated quotation system on which such Note is traded or quoted. 

(D)        Acknowledgement and Agreement by the Holders. A Holder’s
acceptance of any Note bearing any legend required by this Section 2.09 will constitute such Holder’s acknowledgement of, and agreement to comply with, the restrictions set forth in such legend. 

(E)        Restricted Stock Legend. 

(i)      Each Conversion Share will bear the Restricted Stock Legend if the Note
upon the conversion of which such Conversion Share was issued was (or would have been had it not been converted) a Transfer-Restricted Security at the time such Conversion Share was issued; provided, however, that such Conversion Share
need not bear the Restricted Stock Legend if the Company determines, in its reasonable discretion, that such Conversion Share need not bear the Restricted Stock Legend. 

(ii)      Notwithstanding anything to the contrary in this
Section 2.09(E), a Conversion Share need not bear a Restricted Stock Legend if such Conversion Share is issued in an uncertificated form that does not permit affixing legends thereto, provided the Company takes
measures (including the assignment thereto of a “restricted” CUSIP number) that it reasonably deems appropriate to enforce the transfer restrictions referred to in the Restricted Stock Legend. 

Section 2.10.    TRANSFERS AND EXCHANGES; CERTAIN
TRANSFER RESTRICTIONS. 
 (A)        Provisions
Applicable to All Transfers and Exchanges. 
 (i)      Subject to this
Section 2.10, Physical Notes and beneficial interests in Global Notes may be transferred or exchanged from time to time and the Registrar will record each such transfer or exchange in the Register. 

(ii)      Each Note issued upon transfer or exchange of any other Note (such
other Note being referred to as the “old Note” for purposes of this Section 2.10(A)(ii)) or portion thereof in accordance with this Indenture will be the valid obligation of the Company, evidencing the same
indebtedness, and entitled to the same benefits under this 

  
 - 19 - 

 
Indenture, as such old Note or portion thereof, as applicable. 

(iii)    The Company, the Trustee and the Note Agents will not impose any service charge
on any Holder for any transfer, exchange or conversion of Notes, but the Company, the Trustee, the Registrar and the Conversion Agent may require payment of a sum sufficient to cover any transfer tax or similar governmental charge that may be
imposed in connection with any transfer, exchange or conversion of Notes, other than exchanges pursuant to Sections 2.11, 2.17 or 8.05 not involving any transfer. 

(iv)    Notwithstanding anything to the contrary in this Indenture or the Notes, a Note
may not be transferred or exchanged in part unless the portion to be so transferred or exchanged is in an Authorized Denomination. 

(v)      The Trustee will have no obligation or duty to monitor, determine or
inquire as to compliance with any transfer restrictions imposed under this Indenture or applicable law with respect to any Security, other than to require the delivery of such certificates or other documentation or evidence as expressly required by
this Indenture and to examine the same to determine substantial compliance as to form with the requirements of this Indenture. 

(vi)      Each Note issued upon transfer of, or in exchange for, another Note
will bear each legend, if any, required by Section 2.09. 

(vii)    Upon satisfaction of the requirements of this Indenture to effect a transfer or
exchange of any Note, the Company will cause such transfer or exchange to be effected as soon as reasonably practicable but in no event later than the second (2nd) Business Day after the date of such satisfaction. 

(viii)    For the avoidance of doubt, and subject to the terms of this Indenture, as used
in this Section 2.10, an “exchange” of a Global Note or a Physical Note includes (x) an exchange effected for the sole purpose of removing any Restricted Note Legend affixed to such Global Note or Physical
Note; and (y) if such Global Note or a Physical Note is identified by a “restricted” CUSIP number, an exchange effected for the sole purpose of causing such Global Note or a Physical Note to be identified by an
“unrestricted” CUSIP number. 
 (ix)      Neither the Trustee nor
any Note Agent will be responsible for any actions taken or not taken by the Depositary. 

(B)    Transfers and Exchanges of Global Notes. 

(i)      Subject to the immediately following sentence, no Global Note may be
transferred or exchanged in whole except (1) by the Depositary to a nominee of the Depositary; (2) by a nominee of the Depositary to the Depositary or to another nominee of the Depositary; or (3) by the Depositary or any such nominee
to a successor Depositary or a nominee of such successor Depositary. No Global Note (or any portion thereof) may be transferred to, or exchanged for, a Physical Note; provided, however, that a Global Note will be exchanged, pursuant to
customary procedures, for one or more 

  
 - 20 - 

 
Physical Notes if: 

(1)      (x) the Depositary notifies the Company or the Trustee that the
Depositary is unwilling or unable to continue as depositary for such Global Note or (y) the Depositary ceases to be a “clearing agency” registered under Section 17A of the Exchange Act and, in each case, the Company fails to
appoint a successor Depositary within ninety (90) days of such notice or cessation; 

(2)      an Event of Default has occurred and is continuing and the Company,
the Trustee or the Registrar has received a written request from the Depositary, or from a holder of a beneficial interest in such Global Note, to exchange such Global Note or beneficial interest, as applicable, for one or more Physical Notes; or

 (3)      the Company, in its sole discretion, permits the exchange of any
beneficial interest in such Global Note for one or more Physical Notes at the request of the owner of such beneficial interest. 

(ii)      Upon satisfaction of the requirements of this Indenture to effect a
transfer or exchange of any Global Note (or any portion thereof): 

(1)      the Trustee will reflect any resulting decrease of the principal
amount of such Global Note by notation on the “Schedule of Exchanges of Interests in the Global Note” forming part of such Global Note (and, if such notation results in such Global Note having a principal amount of zero, the Company may
(but is not required to) instruct the Trustee to cancel such Global Note pursuant to Section 2.15); 

(2)      if required to effect such transfer or exchange, then the Trustee will
reflect any resulting increase of the principal amount of any other Global Note by notation on the “Schedule of Exchanges of Interests in the Global Note” forming part of such other Global Note; 

(3)      if required to effect such transfer or exchange, then the Company will
issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, a new Global Note bearing each legend, if any, required by Section 2.09; and 

(4)      if such Global Note (or such portion thereof), or any beneficial
interest therein, is to be exchanged for one or more Physical Notes, then the Company will issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, one or more Physical
Notes that are in Authorized Denominations (not to exceed, in the aggregate, the principal amount of such Global Note to be so exchanged), are registered in such name(s) as the Depositary specifies (or as otherwise determined pursuant to customary
procedures) and bear each legend, if any, required by Section 2.09. 

(iii)    Each transfer or exchange of a beneficial interest in any Global Note will

  
 - 21 - 

 
be made in accordance with the Depositary Procedures. 

(C)        Transfers and Exchanges of Physical Notes. 

(i)      Subject to this Section 2.10, a Holder of a
Physical Note may (x) transfer such Physical Note (or any portion thereof in an Authorized Denomination) to one or more other Person(s); (y) exchange such Physical Note (or any portion thereof in an Authorized Denomination) for one or more
other Physical Notes in Authorized Denominations having an aggregate principal amount equal to the aggregate principal amount of the Physical Note (or portion thereof) to be so exchanged; and (z) if then permitted by the Depositary Procedures,
transfer such Physical Note (or any portion thereof in an Authorized Denomination) in exchange for a beneficial interest in one or more Global Notes; provided, however, that, to effect any such transfer or exchange, such Holder must:

 (1)      surrender such Physical Note to be transferred or exchanged to
the office of the Registrar, together with any endorsements or transfer instruments reasonably required by the Company, the Trustee or the Registrar; and 

(2)      deliver such certificates, documentation or evidence as may be
required pursuant to Section 2.10(D). 

(ii)        Upon the satisfaction of the requirements of this
Indenture to effect a transfer or exchange of any Physical Note (such Physical Note being referred to as the “old Physical Note” for purposes of this Section 2.10(C)(ii)) of a Holder (or any portion of such old
Physical Note in an Authorized Denomination): 
 (1)      such old Physical
Note will be promptly cancelled pursuant to Section 2.15; 

(2)      if such old Physical Note is to be transferred or exchanged only in
part, then the Company will issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, one or more Physical Notes that (x) are in Authorized Denominations and have an
aggregate principal amount equal to the principal amount of such old Physical Note not to be transferred or exchanged; (y) are registered in the name of such Holder; and (z) bear each legend, if any, required by
Section 2.09; 
 (3)      in the case of a
transfer: 
 (a)      to the Depositary or a nominee thereof that will hold
its interest in such old Physical Note (or such portion thereof) to be so transferred in the form of one or more Global Notes, the Trustee will reflect an increase of the principal amount of one or more existing Global Notes by notation on the
“Schedule of Exchanges of Interests in the Global Note” forming part of such Global Note(s), which increase(s) are in Authorized Denominations and aggregate to the principal amount to be so transferred, and which Global Note(s) bear each
legend, if any, required 

  
 - 22 - 

 
by Section 2.09; provided, however, that if such transfer cannot be so effected by notation on one or more existing Global Notes (whether because no Global
Notes bearing each legend, if any, required by Section 2.09 then exist, because any such increase will result in any Global Note having an aggregate principal amount exceeding the maximum aggregate principal amount
permitted by the Depositary or otherwise), then the Company will issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, one or more Global Notes that (x) are in
Authorized Denominations and have an aggregate principal amount equal to the principal amount to be so transferred; and (y) bear each legend, if any, required by Section 2.09; and 

(b)      to a transferee that will hold its interest in such old Physical Note
(or such portion thereof) to be so transferred in the form of one or more Physical Notes, the Company will issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, one or
more Physical Notes that (x) are in Authorized Denominations and have an aggregate principal amount equal to the principal amount to be so transferred; (y) are registered in the name of such transferee; and (z) bear each legend, if
any, required by Section 2.09; and 
 (4)      in
the case of an exchange, the Company will issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, one or more Physical Notes that (x) are in Authorized Denominations
and have an aggregate principal amount equal to the principal amount to be so exchanged; (y) are registered in the name of the Person to whom such old Physical Note was registered; and (z) bear each legend, if any, required by
Section 2.09. 
 (D)        Requirement to Deliver
Documentation and Other Evidence. If a Holder of any Note that is identified by a “restricted” CUSIP number or that bears a Restricted Note Legend or is a Transfer-Restricted Security requests to: 

(i)      cause such Note to be identified by an “unrestricted” CUSIP
number; 
 (ii)      remove such Restricted Note Legend; or 

(iii)    register the transfer of such Note to the name of another Person, 

then the Company, the Trustee and the Registrar may refuse to effect such identification, removal or transfer, as applicable, unless there is
delivered to the Company, the Trustee and the Registrar such certificates or other documentation or evidence as the Company, the Trustee and the Registrar may reasonably require to determine that such identification, removal or transfer, as
applicable, complies with the Securities Act and other applicable securities laws; provided, however, that no such certificates, documentation or evidence need be so delivered on and after the Free Trade Date with respect to such Note
unless the Company determines, in its reasonable discretion, that such Note is not eligible to be offered, sold or otherwise transferred pursuant to 

  
 - 23 - 

 
Rule 144 or otherwise without any requirements as to volume, manner of sale, availability of current public information or notice under the Securities Act. 

(E)        Transfers of Notes Subject to Redemption, Repurchase or Conversion.
Notwithstanding anything to the contrary in this Indenture or the Notes, the Company, the Trustee and the Registrar will not be required to register the transfer of or exchange any Note that (i) has been surrendered for conversion, except to
the extent that any portion of such Note is not subject to conversion; (ii) is subject to a Fundamental Change Repurchase Notice validly delivered, and not withdrawn, pursuant to Section 4.02(F), except to the extent
that any portion of such Note is not subject to such notice or the Company fails to pay the applicable Fundamental Change Repurchase Price when due; or (iii) has been selected for Redemption pursuant to a Redemption Notice, except to the extent
that any portion of such Note is not subject to Redemption or the Company fails to pay the applicable Redemption Price when due. 

Section 2.11.    EXCHANGE AND CANCELLATION OF NOTES
TO BE CONVERTED, REDEEMED OR REPURCHASED. 

(A)        Partial Conversions, Redemptions and Repurchases of Physical
Notes. If only a portion of a Physical Note of a Holder is to be converted pursuant to Article 5 or repurchased pursuant to a Repurchase Upon Fundamental Change or redeemed pursuant to a Redemption, then, as soon as reasonably practicable
after such Physical Note is surrendered for such conversion, repurchase or Redemption, the Company will cause such Physical Note to be exchanged, pursuant and subject to Section 2.10(C), for (i) one or more Physical
Notes that are in Authorized Denominations and have an aggregate principal amount equal to the principal amount of such Physical Note that is not to be so converted, repurchased or redeemed, as applicable, and deliver such Physical Note(s) to such
Holder; and (ii) a Physical Note having a principal amount equal to the principal amount to be so converted, repurchased or redeemed, which Physical Note will be converted, repurchased or redeemed, as applicable, pursuant to the terms of this
Indenture; provided, however, that the Physical Note referred to in this clause (ii) need not be issued at any time after which such principal amount subject to such conversion, repurchase or Redemption, as applicable, is deemed
to cease to be outstanding pursuant to Section 2.18. 

(B)        Cancellation of Converted, Redeemed and Repurchased Notes. 

(i)      Physical Notes. If a Physical Note (or any portion thereof that
has not theretofore been exchanged pursuant to Section 2.11(A)) of a Holder is to be converted pursuant to Article 5, repurchased pursuant to a Repurchase Upon Fundamental Change or redeemed pursuant to a Redemption,
then, promptly after the later of the time such Physical Note (or such portion) is deemed to cease to be outstanding pursuant to Section 2.18 and the time such Physical Note is surrendered for such conversion, repurchase or
Redemption, as applicable, (1) such Physical Note will be cancelled pursuant to Section 2.15; and (2) in the case of a partial conversion, repurchase or Redemption, the Company will issue, execute and deliver to
such Holder, and the Trustee will authenticate, in each case in accordance with Section 2.02, one or more Physical Notes that (x) are in Authorized Denominations and have an aggregate principal amount equal to the
principal amount of such Physical Note that is not to be so converted, repurchased or redeemed; (y) 

  
 - 24 - 

 
are registered in the name of such Holder; and (z) bear each legend, if any, required by Section 2.09. 

(ii)      Global Notes. If a Global Note (or any portion thereof) is to
be converted pursuant to Article 5, repurchased pursuant to a Repurchase Upon Fundamental Change or redeemed pursuant to a Redemption, then, promptly after the time such Note (or such portion) is deemed to cease to be outstanding pursuant to
Section 2.18, the Trustee will reflect a decrease of the principal amount of such Global Note in an amount equal to the principal amount of such Global Note to be so converted, repurchased or redeemed, as applicable, by
notation on the “Schedule of Exchanges of Interests in the Global Note” forming part of such Global Note (and, if the principal amount of such Global Note is zero following such notation, cancel such Global Note pursuant to
Section 2.15). 
 Section 2.12.    REMOVAL OF TRANSFER
RESTRICTIONS. 
 Without limiting the generality of any other provision of this Indenture (including
Section 3.04), the Restricted Note Legend affixed to any Note will be deemed, pursuant to this Section 2.12 and the footnote to such Restricted Note Legend, to be removed therefrom upon the
Company’s delivery to the Trustee of notice signed on behalf of the Company by one (1) of its Officers, to such effect (and, for the avoidance of doubt, such notice need not be accompanied by an Officer’s Certificate or an Opinion of
Counsel in order to be effective to cause such Restricted Note Legend to be deemed to be removed from such Note). If such Note bears a “restricted” CUSIP or ISIN number at the time of such delivery, then, upon such delivery, such Note will
be deemed, pursuant to this Section 2.12 and the footnotes to the CUSIP and ISIN numbers set forth on the face of the certificate representing such Note, to thereafter bear the “unrestricted” CUSIP and ISIN
numbers identified in such footnotes; provided, however, that if such Note is a Global Note and the Depositary thereof requires a mandatory exchange or other procedure to cause such Global Note to be identified by
“unrestricted” CUSIP and ISIN numbers in the facilities of such Depositary, then (i) the Company will effect such exchange or procedure as soon as reasonably practicable; and (ii) for purposes of
Section 3.04 and the definition of Freely Tradable, such Global Note will not be deemed to be identified by “unrestricted” CUSIP and ISIN numbers until such time as such exchange or procedure is effected. 

Section 2.13.    REPLACEMENT NOTES. 

If a Holder of any Note claims that such Note has been mutilated, lost, destroyed or wrongfully taken, then the Company will
issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, a replacement Note upon surrender to the Trustee of such mutilated Note, or upon delivery to the Trustee of
evidence of such loss, destruction or wrongful taking reasonably satisfactory to the Trustee and the Company. In the case of a lost, destroyed or wrongfully taken Note, the Company and the Trustee may require the Holder thereof to provide such
security or indemnity that is reasonably satisfactory to the Company and the Trustee to protect the Company and the Trustee from any loss that any of them may suffer if such Note is replaced. 

Every replacement Note issued pursuant to this Section 2.13 will be an additional obligation of the
Company and will be entitled to all of the benefits of this Indenture equally and 

  
 - 25 - 

 
ratably with all other Notes issued under this Indenture. 

Section 2.14.    REGISTERED HOLDERS; CERTAIN RIGHTS
WITH RESPECT TO GLOBAL NOTES. 
 Only the
Holder of a Note will have rights under this Indenture as the owner of such Note. Without limiting the generality of the foregoing, Depositary Participants will have no rights as such under this Indenture with respect to any Global Note held on
their behalf by the Depositary or its nominee, or by the Trustee as its custodian, and the Company, the Trustee and the Note Agents, and their respective agents, may treat the Depositary as the absolute owner of such Global Note for all purposes
whatsoever; provided, however, that (A) the Holder of any Global Note may grant proxies and otherwise authorize any Person, including Depositary Participants and Persons that hold interests in Notes through Depositary
Participants, to take any action that such Holder is entitled to take with respect to such Global Note under this Indenture or the Notes; and (B) the Company and the Trustee, and their respective agents, may give effect to any written
certification, proxy or other authorization furnished by the Depositary. 
 Section 2.15.    CANCELLATION.

 Without limiting the generality of Section 3.08, the Company may at any time deliver Notes
to the Trustee for cancellation. The Registrar, the Paying Agent and the Conversion Agent will forward to the Trustee each Note duly surrendered to them for transfer, exchange, payment or conversion. The Trustee will promptly cancel all Notes so
surrendered to it accordance with its customary procedures. Without limiting the generality of Section 2.03(B), the Company may not originally issue new Notes to replace Notes that it has paid or that have been cancelled
upon transfer, exchange, payment or conversion. 
 Section 2.16.    NOTES HELD BY
THE COMPANY OR ITS AFFILIATES. 
 Without
limiting the generality of Section 3.08, in determining whether the Holders of the required aggregate principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Company or any of its
Affiliates will be deemed not to be outstanding; provided, however, that, for purposes of determining whether the Trustee is protected in relying on any such direction, waiver or consent, only Notes that a Responsible Officer of the
Trustee actually knows are so owned will be so disregarded. 
 Section 2.17.    TEMPORARY NOTES.

 Until definitive Notes are ready for delivery, the Company may issue, execute and deliver, and the Trustee will
authenticate, in each case in accordance with Section 2.02, temporary Notes. Temporary Notes will be substantially in the form of definitive Notes but may have variations that the Company considers appropriate for temporary
Notes. The Company will promptly prepare, issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, definitive Notes in exchange for temporary Notes. Until so exchanged,
each temporary Note will in all respects be entitled to the same benefits under this Indenture as definitive Notes. 

  
 - 26 - 

 Section 2.18.    OUTSTANDING NOTES. 

(A)        Generally. The Notes that are outstanding at any time will be deemed
to be those Notes that, at such time, have been duly executed and authenticated, excluding those Notes (or portions thereof) that have theretofore been (i) cancelled by the Trustee or delivered to the Trustee for cancellation in accordance with
Section 2.15; (ii) assigned a principal amount of zero by notation on the “Schedule of Exchanges of Interests in the Global Note” forming part of any a Global Note representing such Note; (iii) paid in full
in accordance with this Indenture; or (iv) deemed to cease to be outstanding to the extent provided in, and subject to, clause (B), (C) or (D) of this Section 2.18. 

(B)        Replaced Notes. If a Note is replaced pursuant to
Section 2.13, then such Note will cease to be outstanding at the time of its replacement, unless the Trustee and the Company receive proof reasonably satisfactory to them that such Note is held by a “bona fide
purchaser” under applicable law. 
 (C)        Maturing Notes and Notes
Called for Redemption or Subject to Repurchase. If, on a Redemption Date, a Fundamental Change Repurchase Date or the Maturity Date, the Paying Agent holds money sufficient to pay the aggregate Redemption Price, Fundamental Change Repurchase
Price or principal amount, respectively, together, in each case, with the aggregate interest, in each case due on such date, then (unless there occurs a Default in the payment of any such amount) (i) the Notes (or portions thereof) to be
redeemed or repurchased, or that mature, on such date will be deemed, as of such date, to cease to be outstanding, except to the extent provided in Sections 4.02(D), 4.03(E) or 5.02(D); and (ii) the rights of the Holders of
such Notes (or such portions thereof), as such, will terminate with respect to such Notes (or such portions thereof), other than the right to receive the Redemption Price, Fundamental Change Repurchase Price or principal amount, as applicable, of,
and accrued and unpaid interest on, such Notes (or such portions thereof), in each case as provided in this Indenture. 

(D)        Notes to Be Converted. At the Close of Business on the Conversion
Date for any Note (or any portion thereof) to be converted, such Note (or such portion) will (unless there occurs a Default in the delivery of the Conversion Consideration or interest due, pursuant to Section 5.03(B) or
Section 5.02(D), upon such conversion) be deemed to cease to be outstanding, except to the extent provided in Section 5.02(D) or Section 5.08. 

(E)        Cessation of Accrual of Interest. Except as provided in Sections
4.02(D), 4.03(E) or 5.02(D), interest will cease to accrue on each Note from, and including, the date that such Note is deemed, pursuant to this Section 2.18, to cease to be outstanding, unless there
occurs a default in the payment or delivery of any cash or other property due on such Note. 

Section 2.19.    REPURCHASES BY THE COMPANY. 

Without limiting the generality of Section 2.15, the Company or its Subsidiaries may, from time to
time, directly or indirectly, repurchase Notes in open market purchases or otherwise, whether through private or public tender or exchange offers, cash-settled swaps or other cash-settled derivatives without delivering prior notice to Holders. 

  
 - 27 - 

 Section 2.20.    CUSIP AND ISIN NUMBERS. 

Subject to Section 2.12, the Company may use one or more CUSIP or ISIN numbers to identify any of
the Notes, and, if so, the Company and the Trustee will use such CUSIP or ISIN number(s) in notices to Holders; provided, however, that (i) the Trustee makes no representation as to the correctness or accuracy of any such CUSIP or
ISIN number; and (ii) the effectiveness of any such notice will not be affected by any defect in, or omission of, any such CUSIP or ISIN number. The Company will promptly notify the Trustee of any change in the CUSIP or ISIN number(s)
identifying any Notes. 
 Article 3.    COVENANTS 

Section 3.01.    PAYMENT ON NOTES. 

(A)        Generally. The Company will pay or cause to be paid all the
principal of, the Fundamental Change Repurchase Price and Redemption Price for, interest on, and other amounts due with respect to, the Notes on the dates and in the manner set forth in this Indenture. 

(B)        Deposit of Funds. Before 1:00 p.m., New York City time, on each
Redemption Date, Fundamental Change Repurchase Date or Interest Payment Date, and on the Maturity Date or any other date on which any cash amount is due on the Notes, the Company will deposit, or will cause there to be deposited, with the Paying
Agent cash, in funds immediately available on such date, sufficient to pay the cash amount due on the applicable Notes on such date. The Paying Agent will return to the Company, as soon as practicable, any money not required for such purpose. 

Section 3.02.    EXCHANGE ACT REPORTS. 

(A)        Generally. The Company will send to the Trustee copies of all annual
or quarterly reports (on Form 10-K or Form 10-Q, or any respective successor forms) that the Company is required to file with or furnish to the SEC pursuant to
Section 13(a) or 15(d) of the Exchange Act within fifteen (15) calendar days after the date that the Company is required to file or furnish the same (after giving effect to all applicable grace periods under the Exchange Act);
provided, however, that the Company need not send to the Trustee any material for which the Company has received, or is seeking in good faith and has not been denied, confidential treatment by the SEC. Any report that the Company files
with or furnishes to the SEC through the EDGAR system (or any successor thereto) will be deemed to be sent to the Holders at the time such report is so filed or furnished via the EDGAR system (or such successor). 

(B)        Trustee’s Disclaimer. The Trustee need not determine whether
the Company has filed or furnished any material via the EDGAR system (or such successor). The sending, filing or furnishing of reports pursuant to this Section 3.02(A) will not be deemed to constitute constructive notice to
the Trustee of any information contained, or determinable from information contained, therein, including the Company’s compliance with any of its covenants under this Indenture. The Trustee will have no liability or responsibility for the
filing, timeliness or content of any such report or information. 

  
 - 28 - 

 Section 3.03.    RULE 144A INFORMATION. 

If the Company is not subject to Section 13 or 15(d) of the Exchange Act at any time when any Notes or shares of Common
Stock issuable upon conversion of the Notes are outstanding and constitute “restricted securities” (as defined in Rule 144 under the Securities Act), then the Company (or its successor) will promptly provide, to the Trustee and, upon
written request, to any Holder, beneficial owner or prospective purchaser of such Notes or shares, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act to facilitate the resale of such Notes or shares
pursuant to Rule 144A under the Securities Act. 
 Section 3.04.    ADDITIONAL INTEREST. 

(A)        Accrual of Additional Interest. 

(i)      If, at any time during the six (6) month period beginning on, and
including, the date that is six (6) months after the Last Original Issue Date of any Note, 

(1)      the Company fails to timely file any report (other than Form 8-K reports) that the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act (after giving effect to all applicable grace periods thereunder); or 

(2)      such Note is not otherwise Freely Tradable, 

then Additional Interest will accrue on such Note for each day during such period on which such failure is continuing or such
Note is not Freely Tradable. 
 (ii)    In addition, Additional Interest will accrue on
a Note on each day on which such Note is not Freely Tradable on or after the fifteenth (15th) calendar day following the Free Trade Date of such Note. 

(B)        Amount and Payment of Additional Interest. Any Additional Interest
that accrues on a Note pursuant to Section 3.04(A) will be payable on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%)
of the principal amount thereof for the first ninety (90) days on which Additional Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof; provided, however,
that in no event will Additional Interest, together with any Special Interest, accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%), regardless of the number of events or circumstances giving rise to
the accrual of Special Interest or Additional Interest. For the avoidance of doubt, any Additional Interest that accrues on a Note will be in addition to the Stated Interest that accrues on such Note and, subject to the proviso of the immediately
preceding sentence, in addition to any Special Interest that accrues on such Note. 

(C)        Notice of Accrual of Additional Interest; Trustee’s Disclaimer.
The Company will send notice to the Holder of each Note, and to the Trustee, of the commencement and termination of any period in which Additional Interest accrues on such Note. The Trustee will have no duty to determine whether any Additional
Interest is payable or the amount thereof. 

  
 - 29 - 

 Section 3.05.    COMPLIANCE AND
DEFAULT CERTIFICATES. 
 (A)        Annual
Compliance Certificate. Within one hundred twenty (120) days after December 31, 2019, and each fiscal year of the Company ending thereafter, the Company will deliver an Officer’s Certificate to the Trustee stating whether, to such
signatory’s knowledge, a Default or Event of Default has occurred or is continuing (and, if so, describing all such Defaults or Events of Default and what action the Company is taking or proposes to take with respect thereto). 

(B)        Default Certificate. If a Default or Event of Default occurs, then,
within thirty (30) days after its occurrence, the Company will deliver an Officer’s Certificate to the Trustee describing the same and what action the Company is taking or proposes to take with respect thereto, except that the Company will
not be required to deliver such an Officer’s Certificate if such Default or Event of Default has been cured. 

Section 3.06.    STAY, EXTENSION AND USURY LAWS.

 To the extent that it may lawfully do so, the Company (A) agrees that it will not at any time insist upon,
plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law (wherever or whenever enacted or in force) that may affect the covenants or the performance of this Indenture; and (B) expressly
waives all benefits or advantages of any such law and agrees that it will not, by resort to any such law, hinder, delay or impede the execution of any power granted to the Trustee by this Indenture, but will suffer and permit the execution of every
such power as though no such law has been enacted. 
 Section 3.07.    CORPORATE EXISTENCE.

 Subject to Article 6, the Company will cause to preserve and keep in full force and effect: 

(A)        its corporate existence, and the corporate, partnership or other existence
of each of its Subsidiaries, in accordance with the respective organizational documents of the Company and its Subsidiaries; and 

(B)        the material rights (charter and statutory), licenses and franchises of the
Company and the Subsidiaries; 
 provided, however, that the Company need not preserve or keep in full force and effect any
such existence, right, license or franchise if the Board of Directors determines that (x) the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries, taken as a whole; and (y) the
loss thereof is not, individually or in the aggregate, materially adverse to the Holders. 

Section 3.08.    RESTRICTION ON ACQUISITION OF NOTES
BY THE COMPANY AND ITS AFFILIATES. 

The Company will promptly deliver to the Trustee for cancellation all Notes that the Company or any of its Subsidiaries have
purchased or otherwise acquired. The Company will 

  
 - 30 - 

 
use commercially reasonable efforts to prevent any of its Affiliates from acquiring any Note (or any beneficial interest therein). 

Section 3.09.    FURTHER INSTRUMENTS AND ACTS. 

At the Trustee’s request, the Company will execute and deliver such further instruments and do such further acts as may
be reasonably necessary or proper to more effectively carry out the purposes of this Indenture. 
 Article
4.    REPURCHASE AND REDEMPTION 
 Section 4.01.    NO SINKING
FUND. 
 No sinking fund is required to be provided for the Notes. 

Section 4.02.    RIGHT OF HOLDERS TO REQUIRE
THE COMPANY TO REPURCHASE NOTES UPON A FUNDAMENTAL CHANGE. 

(A)        Right of Holders to Require the Company to Repurchase Notes Upon a
Fundamental Change. Subject to the other terms of this Section 4.02, if a Fundamental Change occurs, then each Holder will have the right (the “Fundamental Change Repurchase Right”) to require the
Company to repurchase such Holder’s Notes (or any portion thereof in an Authorized Denomination) on the Fundamental Change Repurchase Date for such Fundamental Change for a cash purchase price equal to the Fundamental Change Repurchase Price.

 (B)        Repurchase Prohibited in Certain Circumstances. If the
principal amount of the Notes has been accelerated and such acceleration has not been rescinded on or before the Fundamental Change Repurchase Date for a Repurchase Upon Fundamental Change (except in the case of an acceleration resulting solely from
an Default by the Company in the payment of the related Fundamental Change Repurchase Price, and any related interest pursuant to the proviso to Section 4.02(D), on such Fundamental Change Repurchase Date), then
(i) the Company may not repurchase any Notes pursuant to this Section 4.02; and (ii) the Company will cause any Notes theretofore surrendered for such Repurchase upon Fundamental Change to be returned to the
Holders thereof (or, if applicable with respect to Global Notes, cancel any instructions for book-entry transfer to the Company, the Trustee or the Paying Agent of the applicable beneficial interest in such Notes in accordance with the Depositary
Procedures). 
 (C)        Fundamental Change Repurchase Date. The
Fundamental Change Repurchase Date for any Fundamental Change will be a Business Day of the Company’s choosing that is no more than thirty five (35), nor less than twenty (20), Business Days after the date the Company sends the related
Fundamental Change Notice pursuant to Section 4.02(E). 

(D)        Fundamental Change Repurchase Price. The Fundamental Change
Repurchase Price for any Note to be repurchased upon a Repurchase Upon Fundamental Change following a Fundamental Change is an amount in cash equal to the principal amount of such Note plus accrued and unpaid interest on such Note to, but excluding,
the Fundamental Change Repurchase Date for such Fundamental Change; provided, however, that if such Fundamental Change 

  
 - 31 - 

 
Repurchase Date is after a Regular Record Date and on or before the next Interest Payment Date, then (i) the Holder of such Note at the Close of Business on such Regular Record Date will be
entitled, notwithstanding such Repurchase Upon Fundamental Change, to receive, on or, at the Company’s election, before such Interest Payment Date, the unpaid interest that would have accrued on such Note to, but excluding, such Interest
Payment Date (assuming, solely for these purposes, that such Note remained outstanding through such Interest Payment Date, if such Fundamental Change Repurchase Date is before such Interest Payment Date); and (ii) the Fundamental Change
Repurchase Price will not include accrued and unpaid interest on such Note to, but excluding, such Fundamental Change Repurchase Date. For the avoidance of doubt, if an Interest Payment Date is not a Business Day within the meaning of
Section 2.05(C) and such Fundamental Change Repurchase Date occurs on the Business Day immediately after such Interest Payment Date, then (x) accrued and unpaid interest on Notes to, but excluding, such Interest
Payment Date will be paid, in accordance with Section 2.05(C), on the next Business Day to Holders at of the Close of Business on the immediately preceding Regular Record Date; and (y) the Fundamental Change Repurchase
Price will include interest on Notes to be repurchased from, and including, such Interest Payment Date. 

(E)        Fundamental Change Notice. On or before the twentieth (20th)
calendar day after the occurrence of a Fundamental Change, the Company will send to each Holder, the Trustee and the Paying Agent (if other than the Trustee) a notice of such Fundamental Change (a “Fundamental Change Notice”). 

Such Fundamental Change Notice must state: 

(i)      briefly, the events causing such Fundamental Change; 

(ii)     the effective date of such Fundamental Change; 

(iii)    the procedures that a Holder must follow to require the Company to repurchase its
Notes pursuant to this Section 4.02, including the deadline for exercising the Fundamental Change Repurchase Right and the procedures for submitting and withdrawing a Fundamental Change Repurchase Notice; 

(iv)     the Fundamental Change Repurchase Date for such Fundamental Change; 

(v)      the Fundamental Change Repurchase Price per $1,000 principal amount of
Notes for such Fundamental Change (and, if such Fundamental Change Repurchase Date is after a Regular Record Date and on or before the next Interest Payment Date, the amount, manner and timing of the interest payment payable pursuant to the proviso
to Section 4.02(D)); 
 (vi)     the name and address of
the Paying Agent and the Conversion Agent; 
 (vii)    the Conversion Rate in effect on
the date of such Fundamental Change Notice and a description and quantification of any adjustments to the Conversion Rate that may result from such Fundamental Change (including pursuant to Section 5.07); 

(viii)   that Notes for which a Fundamental Change Repurchase Notice has been

  
 - 32 - 

 
duly tendered and not duly withdrawn must be delivered to the Paying Agent for the Holder thereof to be entitled to receive the Fundamental Change Repurchase Price; 

(ix)      that Notes (or any portion thereof) that are subject to a Fundamental
Change Repurchase Notice that has been duly tendered may be converted only if such Fundamental Change Repurchase Notice is withdrawn in accordance with this Indenture; and 

(x)       the CUSIP and ISIN numbers, if any, of the Notes. 

Neither the failure to deliver a Fundamental Change Notice nor any defect in a Fundamental Change Notice will limit the
Fundamental Change Repurchase Right of any Holder or otherwise affect the validity of any proceedings relating to any Repurchase Upon Fundamental Change. 

(F)        Procedures to Exercise the Fundamental Change Repurchase Right. 

(i)        Delivery of Fundamental Change Repurchase Notice and
Notes to Be Repurchased. To exercise its Fundamental Change Repurchase Right for a Note following a Fundamental Change, the Holder thereof must deliver to the Paying Agent: 

(1)        before the Close of Business on the Business Day
immediately before the related Fundamental Change Repurchase Date (or such later time as may be required by law), a duly completed, written Fundamental Change Repurchase Notice with respect to such Note; and 

(2)        such Note, duly endorsed for transfer (if such Note is a
Physical Note) or by book-entry transfer (if such Note is a Global Note). 
 The Paying Agent will promptly deliver to the
Company a copy of each Fundamental Change Repurchase Notice that it receives. 

(ii)      Contents of Fundamental Change Repurchase Notices. Each
Fundamental Change Repurchase Notice with respect to a Note must state: 

(1)        if such Note is a Physical Note, the certificate number of
such Note; 
 (2)        the principal amount of such Note to be
repurchased, which must be an Authorized Denomination; and 

(3)        that such Holder is exercising its Fundamental Change
Repurchase Right with respect to such principal amount of such Note; 
 provided, however, that if such Note
is a Global Note, then such Fundamental Change Repurchase Notice must comply with the Depositary Procedures (and any such Fundamental Change Repurchase Notice delivered in compliance with the Depositary Procedures will be deemed to satisfy the
requirements of this Section 4.02(F)). 

  
 - 33 - 

 (iii)      Withdrawal of
Fundamental Change Repurchase Notice. A Holder that has delivered a Fundamental Change Repurchase Notice with respect to Note may withdraw such Fundamental Change Repurchase Notice by delivering a written notice of withdrawal to the Paying Agent
at any time before the Close of Business on the Business Day immediately before the related Fundamental Change Repurchase Date. Such withdrawal notice must state: 

(1)        if such Note is a Physical Note, the certificate number of
such Note; 
 (2)        the principal amount of such Note to be
withdrawn, which must be an Authorized Denomination; and 

(3)        the principal amount of such Note, if any, that remains
subject to such Fundamental Change Repurchase Notice, which must be an Authorized Denomination; 
 provided,
however, that if such Note is a Global Note, then such withdrawal notice must comply with the Depositary Procedures (and any such withdrawal notice delivered in compliance with the Depositary Procedures will be deemed to satisfy the
requirements of this Section 4.02(F)). 
 Upon receipt of any such withdrawal notice with respect
to a Note (or any portion thereof), the Paying Agent will (x) promptly deliver a copy of such withdrawal notice to the Company; and (y) if such Note is surrendered to the Paying Agent, cause such Note (or such portion thereof in accordance
with Section 2.11, treating such Note as having been then surrendered for partial repurchase in the amount set forth in such withdrawal notice as remaining subject to repurchase) to be returned to the Holder thereof (or, if
applicable with respect to any Global Note, cancel any instructions for book-entry transfer to the Company, the Trustee or the Paying Agent of the applicable beneficial interest in such Note in accordance with the Depositary Procedures). 

(G)        Payment of the Fundamental Change Repurchase Price. Without limiting
the Company’s obligation to deposit the Fundamental Change Repurchase Price within the time proscribed by Section 3.01(B), the Company will cause the Fundamental Change Repurchase Price for a Note (or portion thereof)
to be repurchased pursuant to a Repurchase Upon Fundamental Change to be paid to the Holder thereof on or before the later of (i) the applicable Fundamental Change Repurchase Date; and (ii) the date (x) such Note is delivered to the
Paying Agent (in the case of a Physical Note) or (y) the Depositary Procedures relating to the repurchase, and the delivery to the Paying Agent, of such Holder’s beneficial interest in such Note to be redeemed are complied with (in the
case of a Global Note). For the avoidance of doubt, interest payable pursuant to the proviso to Section 4.02(D) on any Note to be repurchased pursuant to a Repurchase Upon Fundamental Change must be paid pursuant to such
proviso regardless of whether such Note is delivered or such Depositary Procedures are complied with pursuant to the first sentence of this Section 4.02(G). 

  
 - 34 - 

 (H)        Third Party May
Conduct Repurchase Offer In Lieu of the Company. Notwithstanding anything to the contrary in this Section 4.02, the Company will be deemed to satisfy its obligations under this Section 4.02 if
(i) one or more third parties conduct any Repurchase Upon Fundamental Change and related offer to repurchase Notes otherwise required by this Section 4.02 in a manner that would have satisfied the requirements of this
Section 4.02 if conducted directly by the Company and (ii) an owner of a beneficial interest in the Notes would not receive a lesser amount (as a result of taxes, additional expenses or for any other reason) than such
owner would have received had the Company repurchased the Notes. 
 (I)        No
Requirement to Conduct an Offer to Repurchase Notes if the Fundamental Change Results in the Notes Becoming Convertible into an Amount of Cash Exceeding the Fundamental Change Repurchase Price. Notwithstanding anything to the contrary in this
Section 4.02, the Company will not be required to send a Fundamental Change Notice pursuant to Section 4.02(E), or offer to repurchase or repurchase any Notes pursuant to this
Section 4.02, in connection with a Fundamental Change occurring pursuant to clause (B)(ii) (or pursuant to clause (A) that also constitutes a Fundamental Change occurring pursuant to clause (B)(ii)) of the definition
thereof, if (i) such Fundamental Change constitutes a Common Stock Change Event for which the Reference Property consists only of cash in U.S. dollars; (ii) immediately after such Fundamental Change, the Notes become convertible, pursuant
to Section 5.09(A) and, if applicable, Section 5.07, into consideration that includes such cash in an amount per $1,000 aggregate principal amount of Notes that equals or exceeds the Fundamental
Change Repurchase Price per $1,000 aggregate principal amount of Notes (calculated assuming that the same includes accrued interest to, but excluding, the latest possible Fundamental Change Repurchase Date for such Fundamental Change); and
(iii) the Company timely sends the notice relating to such Fundamental Change required pursuant to Section 5.01(C)(i)(3)(b). 

(J)        Compliance with Applicable Securities Laws. The Company will comply
in all material respects with all federal and state securities laws in connection with a Repurchase Upon Fundamental Change (including complying with Rules 13e-4 and
14e-1 under the Exchange Act and filing any required Schedule TO, to the extent applicable) so as to permit effecting such Repurchase Upon Fundamental Change in the manner set forth in this Indenture. However,
to the extent that the provisions of any securities laws or regulations adopted after the date on which the Notes are first issued conflict with the provisions of this Indenture relating to the Company’s obligations to effect a Repurchase Upon
Fundamental Change, the Company will comply with such applicable securities laws and regulations and will not be deemed to have breached its obligations under such provisions of this Indenture by virtue of such conflict. 

(K)        Repurchase in Part. Subject to the terms of this
Section 4.02, Notes may be repurchased pursuant to a Repurchase Upon Fundamental Change in part, but only in Authorized Denominations. Provisions of this Section 4.02 applying to the repurchase of
a Note in whole will equally apply to the repurchase of a permitted portion of a Note. 
 Section 4.03.    RIGHT
OF THE COMPANY TO REDEEM THE NOTES. 

(A)        No Right to Redeem Before March 1, 2022. The
Company may not redeem the Notes at its option at any time before March 1, 2022. 

  
 - 35 - 

 (B)        Right to Redeem the
Notes on or After March 1, 2022. Subject to the terms of this Section 4.03, the Company has the right, at its election, to redeem all, or any portion in an Authorized Denomination, of the Notes, at
any time and from time to time, on a Redemption Date on or after March 1, 2022 and on or before the forty-fifth (45th) Scheduled Trading Date immediately before the Maturity Date, for a cash purchase price equal to the Redemption Price, but
only if the Last Reported Sale Price per share of Common Stock exceeds one hundred and thirty percent (130%) of the Conversion Price on (i) each of at least twenty (20) Trading Days (whether or not consecutive) during the thirty
(30) consecutive Trading Days ending on, and including, the Trading Day immediately before the Redemption Notice Date for such Redemption; and (ii) the Trading Day immediately before the Redemption Notice Date. 

(C)        Redemption Prohibited in Certain Circumstances. If the principal
amount of the Notes has been accelerated (other than as a result of a failure to make the payment of the related Redemption Price, and any related interest pursuant to the proviso to Section 4.03(E), on such Redemption
Date) and such acceleration has not been rescinded on or before the Redemption Date, then (i) the Company may not call for Redemption or otherwise redeem any Notes pursuant to this Section 4.03; and (ii) the
Company will cause any Notes theretofore surrendered for such Redemption to be returned to the Holders thereof (or, if applicable with respect to Global Notes, cancel any instructions for book-entry transfer to the Company, the Trustee or the Paying
Agent of the applicable beneficial interests in such Notes in accordance with the Depositary Procedures). 

(D)        Redemption Date. The Redemption Date for any Redemption will be a
Business Day of the Company’s choosing that is no more than seventy (70), nor less than fifty (50), Scheduled Trading Days after the Redemption Notice Date for such Redemption. 

(E)        Redemption Price. The Redemption Price for any Note called for
Redemption is an amount in cash equal to the principal amount of such Note plus accrued and unpaid interest on such Note to, but excluding, the Redemption Date for such Redemption; provided, however, that if such Redemption Date is
after a Regular Record Date and on or before the next Interest Payment Date, then (i) the Holder of such Note at the Close of Business on such Regular Record Date will be entitled, notwithstanding such Redemption, to receive, on or, at the
Company’s election, before such Interest Payment Date, the unpaid interest that would have accrued on such Note to, but excluding, such Interest Payment Date (assuming, solely for these purposes, that such Note remained outstanding through such
Interest Payment Date, if such Redemption Date is before such Interest Payment Date); and (ii) the Redemption Price will not include accrued and unpaid interest on such Note to, but excluding, such Redemption Date. For the avoidance of doubt,
if an Interest Payment Date is not a Business Day within the meaning of Section 2.05(C) and such Redemption Date occurs on the Business Day immediately after such Interest Payment Date, then (x) accrued and unpaid
interest on Notes to, but excluding, such Interest Payment Date will be paid, in accordance with Section 2.05(C), on the next Business Day to Holders at of the Close of Business on the immediately preceding Regular Record
Date; and (y) the Redemption Price will include interest on Notes to be redeemed from, and including, such Interest Payment Date. 

(F)        Redemption Notice. To call any Notes for Redemption, the Company
must send to each applicable Holder (and to any beneficial owner of a Global Note, if required by 

  
 - 36 - 

 
applicable law), the Trustee and the Paying Agent (if other than the Trustee) a written notice of such Redemption (a “Redemption Notice”). 

Such Redemption Notice must state: 

(i)      that the Notes have been called for Redemption, briefly describing the
Company’s Redemption right under this Indenture; 
 (ii)     the Redemption
Date for such Redemption; 
 (iii)    the Redemption Price per $1,000 principal amount
of Notes for such Redemption (and, if the Redemption Date is after a Regular Record Date and on or before the next Interest Payment Date, the amount, manner and timing of the interest payment payable pursuant to the proviso to
Section 4.03(E)); 
 (iv)     the name and address of the
Paying Agent and the Conversion Agent; 
 (v)      that Notes called for
Redemption may be converted at any time before the Close of Business on the Business Day immediately before the Redemption Date (or, if the Company fails to pay the Redemption Price due on such Redemption Date in full, at any time until such time as
the Company pays such Redemption Price in full); 
 (vi)     the Conversion Rate in
effect on the Redemption Notice Date for such Redemption; 
 (vii)    the Settlement
Method that will apply to all conversions of Notes with a Conversion Date that occurs on or after such Redemption Notice Date and before such Redemption Date; 

(viii)     that Notes called for Redemption must be delivered to the Paying Agent (in
the case of Physical Notes) or the Depositary Procedures must be complied with (in the case of Global Notes) for the Holder thereof to be entitled to receive the Redemption Price; and 

(ix)      the CUSIP and ISIN numbers, if any, of the Notes. 

On or before the Redemption Notice Date, the Company will send a copy of such Redemption Notice to the Trustee and the Paying
Agent. 
 (G)        If less than all Notes then outstanding are called for
Redemption, then: 
 (i)      the Notes to be redeemed will be selected by the
Trustee as follows: (1) in the case of Global Notes, in accordance with the Depositary Procedures; and (2) in the case of Physical Notes, pro rata, by lot; and 

(ii)     if only a portion of a Note is subject to Redemption and such Note is
converted in part, then the converted portion of such Note will be deemed to be from the portion of such Note that was subject to Redemption. 

  
 - 37 - 

 (H)        Payment of the
Redemption Price. Without limiting the Company’s obligation to deposit the Redemption Price by the time proscribed by Section 3.01(B), the Company will cause the Redemption Price for a Note (or portion thereof)
subject to Redemption to be paid to the Holder thereof on or before the applicable Redemption Date (or, if later with respect to any Physical Note, the date such Note is delivered to the Paying Agent). For the avoidance of doubt, interest payable
pursuant to the proviso to Section 4.03(E) on any Note (or portion thereof) subject to Redemption must be paid pursuant to such proviso regardless of whether such Note is delivered or such Depositary Procedures are complied
with pursuant to the first sentence of this Section 4.03(H). 

(I)        Special Provisions for Partial Redemptions. If the Company elects to
redeem less than all of the outstanding Notes pursuant to this Section 4.03, and the Holder of any Note, or any owner of a beneficial interest in any Global Note, is reasonably not able to determine, before the Close of
Business on the forty-seventh (47th) (or, if the Company has specified, in the related Redemption Notice, that Physical Settlement will apply to all Notes called for Redemption and converted with a Conversion Date occurring on or before the Business
Day immediately before the related Redemption Date, the second (2nd)) Scheduled Trading Day immediately before the relevant Redemption Date, whether such Note or beneficial interest, as applicable, is to be redeemed pursuant to such Redemption, then
such Holder or owner, as applicable, will be entitled to convert such Note or beneficial interest, as applicable, at any time before the Close of Business on the Business Day immediately before such Redemption Date (or, if the Company fails to pay
the Redemption Price due on such Redemption Date in full, at any time until such time as the Company pays such Redemption Price in full), and each such conversion will be deemed to be of a Note called for Redemption for purposes of this
Section 4.03 and Sections 5.01(C)(i)(4) and 5.07. 
 For the avoidance of doubt, calling any Notes
for Redemption will constitute a Make-Whole Fundamental Change only with respect to the Notes called for Redemption, and not with respect to the Notes not called for Redemption, subject to Section 4.03(I). Accordingly, if
the Company elects to redeem less than all of the outstanding Notes, then Holders of the Notes not called for Redemption will not be entitled to an increased Conversion Rate for such Notes pursuant to Section 5.07 on
account of the Redemption, except as provided in Section 4.03(I) above. 
 Article
5.    CONVERSION 
 Section 5.01.    RIGHT TO CONVERT.

 (A)        Generally. Subject to the provisions of this Article
5, each Holder may, at its option, convert such Holder’s Notes into Conversion Consideration. 

(B)        Conversions in Part. Subject to the terms of this Indenture, Notes
may be converted in part, but only in Authorized Denominations. Provisions of this Article 5 applying to the conversion of a Note in whole will equally apply to conversions of a permitted portion of a Note. 

(C)        When Notes May Be Converted. 

  
 - 38 - 

 (i)      Generally.
Subject to Section 5.01(C)(ii), a Note may be converted only in the following circumstances: 

(1)        Conversion upon Satisfaction of Common Stock Sale Price
Condition. Prior to the Close of Business on the Business Day immediately preceding November 1, 2023, a Holder may convert its Notes during any calendar quarter commencing after the calendar quarter ending on June 30, 2019 (and only
during such calendar quarter), if the Last Reported Sale Price per share of Common Stock for each of at least twenty (20) Trading Days (whether or not consecutive) during the period of thirty (30) consecutive Trading Days ending on, and
including, the last Trading Day of the immediately preceding calendar quarter exceeds one hundred and thirty percent (130%) of the Conversion Price on the applicable Trading Day. 

(2)        Conversion upon Satisfaction of Note Trading Price
Condition. Prior to the Close of Business on the Business Day immediately preceding November 1, 2023, a Holder may convert its Notes during the five (5) consecutive Business Days immediately after any ten (10) consecutive Trading
Day period (such ten (10) consecutive Trading Day period, the “Measurement Period”) if the Trading Price per $1,000 principal amount of Notes, as determined following a request by a Holder in accordance with the procedures set
forth below, for each Trading Day of the Measurement Period was less than ninety eight percent (98%) of the product of the Last Reported Sale Price per share of Common Stock on such Trading Day and the Conversion Rate on such Trading Day. The
condition set forth in the preceding sentence is referred to in this Indenture as the “Trading Price Condition.” 

The Trading Price will be determined by the Bid Solicitation Agent pursuant to this
Section 5.01(C)(i)(2) and the definition of “Trading Price.” The Bid Solicitation Agent (if not the Company) will have no obligation to determine the Trading Price of the Notes unless the Company has requested
such determination, and the Company will have no obligation to make such request (or seek bids itself) unless a Holder of at least five million dollars ($5,000,000) aggregate principal amount of Notes (or such lesser principal amount as may be then
outstanding) provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Notes would be less than ninety eight percent (98%) of the product of the Last Reported Sale Price per share of Common Stock and the
Conversion Rate. If such a Holder provides such evidence, then the Company will (if acting as Bid Solicitation Agent), or will instruct the Bid Solicitation Agent to, determine the Trading Price of the Notes beginning on the next Trading Day and on
each successive Trading Day until the Trading Price per $1,000 principal amount of Notes is greater than or equal to ninety eight percent (98%) of the product of the Last Reported Sale Price per share of Common Stock on such Trading Day and the
Conversion Rate on such Trading Day. If the Trading Price Condition has been met as set forth above, then the Company will notify the Holders, the Trustee and the Conversion Agent of the same, and each of the Holders, the Trustee and the Conversion
Agent will be 

  
 - 39 - 

 
entitled to rely conclusively upon the accuracy of such notice and any calculations therein without independent verification. If, on any Trading Day after the Trading Price Condition has been met
as set forth above, the Trading Price per $1,000 principal amount of Notes is greater than or equal to ninety eight percent (98%) of the product of the Last Reported Sale Price per share of Common Stock on such Trading Day and the Conversion Rate on
such Trading Day, then the Company will notify the Holders, the Trustee and the Conversion Agent of the same, and, thereafter, neither the Company nor the Bid Solicitation Agent will be required to solicit bids again until another Holder request is
made as provided above. 
 (3)      Conversion upon Specified Corporate
Events. 
 (a)        Certain Distributions. If, prior
to the Close of Business on the Business Day immediately preceding November 1, 2023, the Company elects to: 

(I)      distribute, to all or substantially all holders of Common Stock, any
rights, options or warrants (other than rights issued pursuant to a stockholder rights plan, so long as such rights have not separated from the Common Stock and are not exercisable until the occurrence of a triggering event, except that such rights
will be deemed to be distributed under this clause (I) upon their separation from the Common Stock or upon the occurrence of such triggering event) entitling them, for a period of not more than sixty (60) calendar days after the record
date of such distribution, to subscribe for or purchase shares of Common Stock at a price per share that is less than the average of the Last Reported Sale Prices per share of Common Stock for the ten (10) consecutive Trading Days ending on,
and including, the Trading Day immediately before the date such distribution is announced (determined in accordance with the third paragraph of Section 5.05(A)(ii)); or 

(II)        distribute, to all or substantially all holders of Common
Stock, assets or securities of the Company or rights to purchase the Company’s securities, which distribution per share of Common Stock has a value, as reasonably determined by the Company in good faith, exceeding ten percent (10%) of the Last
Reported Sale Price per share of Common Stock on the Trading Day immediately before the date such distribution is announced, 

then, in either case, (x) the Company will send notice of such distribution, and of the related right to convert Notes,
to Holders, the Trustee and the Conversion Agent (if other than the Trustee) at least fifty (50) Scheduled Trading Days before the Ex-Dividend Date for such distribution (or, if later in the case of any
such separation of rights issued pursuant to a stockholder rights plan or the occurrence of any such triggering event 

  
 - 40 - 

 
under a stockholder rights plan, as soon as reasonably practicable after the Company becomes aware of that such separation or triggering event has occurred or will occur); and (y) once the
Company has sent such notice, Holders may convert their Notes at any time until the earlier of the Close of Business on the Business Day immediately before such Ex-Dividend Date and the Company’s
announcement that such distribution will not take place. 
 (b)        Certain
Corporate Events. If, prior to the Close of Business on the Business Day immediately preceding November 1, 2023, a Fundamental Change, Make-Whole Fundamental Change (other than a Make-Whole Fundamental Change pursuant to clause
(B) of the definition thereof) or Common Stock Change Event (other than a Common Stock Change Event that is solely for the purpose of changing the Company’s jurisdiction of incorporation and that (x) does not constitute a
Fundamental Change or a Make-Whole Fundamental Change; and (y) results in a reclassification, conversion or exchange of the outstanding shares of Common Stock solely into shares of common stock of the surviving entity, which common stock
constitutes the Reference Property of such Common Stock Change Event) occurs, then, in each case, Holders may convert their Notes at any time from, and including, the effective date of such transaction or event to, and including, the thirty fifth
(35th) Trading Day after such effective date (or, if such transaction or event also constitutes a Fundamental Change (other than an Exempted Fundamental Change), to, but excluding, the related Fundamental Change Repurchase Date). No later than the
second (2nd) Business Day after the effective date of any Fundamental Change, Make-Whole Fundamental Change or Common Stock Change Event that occurs before the Maturity Date, the Company will send notice to the Holders, the Trustee and the
Conversion Agent (if other than the Trustee) of such transaction or event, such effective date and, if applicable, the related right to convert Notes. 

(4)        Conversion upon Redemption. If the Company calls any
Note for Redemption, then the Holder of such Note may convert such Note at any time before the Close of Business on the Business Day immediately before the related Redemption Date (or, if the Company fails to pay the Redemption Price due on such
Redemption Date in full, at any time until such time as the Company pays such Redemption Price in full). 

(5)        Conversions During Free Convertibility Period. A
Holder may convert its Notes at any time from, and including, November 1, 2023 until the Close of Business on the Scheduled Trading Day immediately before the Maturity Date. 

For the avoidance of doubt, the Notes may become convertible pursuant to any one or more of the preceding
sub-paragraphs of this Section 5.01(C)(i) and the Notes ceasing to be convertible pursuant to a particular sub-paragraph of this
Section 5.01(C)(i) will not 

  
 - 41 - 

 
preclude the Notes from being convertible pursuant to any other sub-paragraph of this Section 5.01(C)(i). 

(ii)      Limitations and Closed Periods. Notwithstanding anything to the
contrary in this Indenture or the Notes: 
 (1)      Notes may be surrendered
for conversion only after the Open of Business and before the Close of Business on a day that is a Business Day; 

(2)      in no event may any Note be surrendered for conversion after the Close
of Business on the Scheduled Trading Day immediately before the Maturity Date; 

(3)      if the Company calls any Note for Redemption pursuant to
Section 4.03, then the Holder of such Note may not surrender such Note for conversion after the Close of Business on the Business Day immediately before the applicable Redemption Date, except to the extent the Company fails
to pay the Redemption Price for such Note in accordance with this Indenture; and 

(4)      if a Fundamental Change Repurchase Notice is validly delivered
pursuant to Section 4.02(F) with respect to any Note, then such Note may not be converted, except to the extent (a) such Note is not subject to such notice; or (b) such notice is withdrawn in accordance with
Section 4.02(F). 
 Section 5.02.    CONVERSION PROCEDURES. 

(A)      Generally. 

(i)      Global Notes. To convert a beneficial interest in a Global Note
that is convertible pursuant to Section 5.01(C), the owner of such beneficial interest must (1) comply with the Depositary Procedures for converting such beneficial interest (at which time such conversion will become
irrevocable); and (2) pay any amounts due pursuant to Section 5.02(D) or Section 5.02(E). 

(ii)     Physical Notes. To convert all or a portion of a Physical Note that
is convertible pursuant to Section 5.01(C), the Holder of such Note must (1) complete, manually sign and deliver to the Conversion Agent the conversion notice attached to such Physical Note or a facsimile of such
conversion notice; (2) deliver such Physical Note to the Conversion Agent (at which time such conversion will become irrevocable); (3) furnish any endorsements and transfer documents that the Company or the Conversion Agent may require; and
(4) pay any amounts due pursuant to Section 5.02(D) or Section 5.02(E). 

(B)      Effect of Converting a Note. At the Close of Business on the Conversion Date for
a Note (or any portion thereof), such Note (or such portion thereof) will be deemed to cease to be outstanding (and, for the avoidance of doubt, no Person will be deemed to be a Holder of such Note (or such portion thereof) as of the Close of
Business on such Conversion Date), except to the extent provided in Section 5.02(D). 

  
 - 42 - 

 (C)      Holder of Record of Conversion
Shares. The Person in whose name any share of Common Stock is issuable upon conversion of any Note will be deemed to become the holder of record of such share as of the Close of Business on (i) the Conversion Date for such conversion, in
the case of Physical Settlement; or (ii) the last VWAP Trading Day of the Observation Period for such conversion, in the case of Combination Settlement. 

(D)      Interest Payable upon Conversion in Certain Circumstances. If the Conversion
Date of a Note is after a Regular Record Date and before the next Interest Payment Date, then (i) the Holder of such Note at the Close of Business on such Regular Record Date will be entitled, notwithstanding such conversion (and, for the
avoidance of doubt, notwithstanding anything set forth in the proviso to this sentence), to receive, on or, at the Company’s election, before such Interest Payment Date, the unpaid interest that would have accrued on such Note to, but
excluding, such Interest Payment Date (assuming, solely for these purposes, that such Note remained outstanding through such Interest Payment Date); and (ii) the Holder surrendering such Note for conversion must deliver to the Conversion Agent,
at the time of such surrender, an amount of cash equal to the amount of such interest referred to in clause (i) above; provided, however, that the Holder surrendering such Note for conversion need not deliver such cash (w) if
the Company has specified a Redemption Date that is after such Regular Record Date and on or before the Business Day immediately after such Interest Payment Date; (x) if such Conversion Date occurs after the Regular Record Date immediately
before the Maturity Date; (y) if the Company has specified a Fundamental Change Repurchase Date that is after such Regular Record Date and on or before the Business Day immediately after such Interest Payment Date; or (z) to the extent of
any overdue interest or interest that has accrued on any overdue interest. For the avoidance of doubt, as a result of, and without limiting the generality of, the foregoing, if a Note is converted with a Conversion Date that is after the Regular
Record Date immediately before the Maturity Date, then the Company will pay, as provided above, the interest that would have accrued on such Note to, but excluding, the Maturity Date. For the avoidance of doubt, if the Conversion Date of a Note to
be converted is on an Interest Payment Date, then the Holder of such Note at the Close of Business on the Regular Record Date immediately before such Interest Payment Date will be entitled to receive, on such Interest Payment Date, the unpaid
interest that has accrued on such Note to, but excluding, such Interest Payment Date, and such Note, when surrendered for conversion, need not be accompanied by any cash amount pursuant to the first sentence of this
Section 5.02(D). 
 (E)      Taxes and Duties. If a Holder
converts a Note, the Company will pay any documentary, stamp or similar issue or transfer tax or duty due on the issue of any shares of Common Stock upon such conversion; provided, however, that if any tax or duty is due because such
Holder requested such shares to be issued in a name other than such Holder’s name, then such Holder will pay such tax or duty and, until having received a sum sufficient to pay such tax or duty, the Conversion Agent may refuse to deliver any
such shares to be registered in a name other than that of such Holder. 

(F)      Conversion Agent to Notify Company of Conversions. If any Note is submitted for
conversion to the Conversion Agent or the Conversion Agent receives any notice of conversion with respect to a Note, then the Conversion Agent will promptly notify the Company and the Trustee (if other than the Conversion Agent) of such occurrence,
together with any other information reasonably requested by the Company, and will cooperate with the Company to 

  
 - 43 - 

 
determine the Conversion Date for such Note. 

Section 5.03.    SETTLEMENT UPON CONVERSION. 

(A)     Settlement Method. Upon the conversion of any Note, the Company will settle such
conversion by paying or delivering, as applicable and as provided in this Article 5, either (x) shares of Common Stock, together, if applicable, with cash in lieu of fractional shares as provided in
Section 5.03(B)(i)(1) (a “Physical Settlement”); (y) solely cash as provided in Section 5.03(B)(i)(2) (a “Cash Settlement”); or (z) a combination of cash and
shares of Common Stock, together, if applicable, with cash in lieu of fractional shares as provided in Section 5.03(B)(i)(3) (a “Combination Settlement”). 

The Company will have the right to elect the Settlement Method applicable to any conversion of a Note; provided,
however, that: 
 (i)      subject to clause (iii) below,
all conversions of Notes with a Conversion Date that occurs on or after November 1, 2023 will be settled using the same Settlement Method, and the Company will send notice of such Settlement Method to Holders and the Conversion Agent no later
than the Close of Business on the Scheduled Trading Day immediately before November 1, 2023; 

(ii)      subject to clause (iii) below, if the Company elects a
Settlement Method with respect to the conversion of any Note whose Conversion Date occurs before November 1, 2023, then the Company will send notice of such Settlement Method to the Holder of such Note and the Conversion Agent no later than the
Close of Business on the Business Day immediately after such Conversion Date; 

(iii)     if any Notes are called for Redemption, then (1) the Company will
specify, in the related Redemption Notice sent pursuant to Section 4.03(F), the Settlement Method that will apply to all conversions of Notes with a Conversion Date that occurs on or after the related Redemption Notice Date
and on or before the Business Day immediately before the related Redemption Date; and (2) if such Redemption Date occurs on or after November 1, 2023, then such Settlement Method must be the same Settlement Method that, pursuant to
clause (i) above, applies to all conversions of Notes with a Conversion Date that occurs on or after November 1, 2023; 

(iv)      the Company will use the same Settlement Method for all conversions of
Notes with a Conversion Date that occurs on the same day (and, for the avoidance of doubt, the Company will not be obligated to use the same Settlement Method with respect to conversions of Notes whose Conversion Dates occur on different days,
except as provided in clause (i) or (iii) above); 

(v)      if the Company does not timely elect a Settlement Method with respect
to the conversion of a Note, then the Company will be deemed to have elected the Default Settlement Method (and, for the avoidance of doubt, the failure to timely make such election will not constitute a Default or Event of Default); 

(vi)     if the Company timely elects Combination Settlement with respect to the

  
 - 44 - 

 
conversion of a Note but does not timely notify the Holder of such Note of the applicable Specified Dollar Amount, then the Specified Dollar Amount for such conversion will be deemed to be $1,000
per $1,000 principal amount of Notes (and, for the avoidance of doubt, the failure to timely send such notification will not constitute a Default or Event of Default); and 

(vii)      the Settlement Method will be subject to
Section 5.09(A)(2). 
 (B)      Conversion Consideration.

 (i)        Generally. Subject to
Section 5.03(B)(ii) and Section 5.03(B)(iii), the type and amount of consideration (the “Conversion Consideration”) due in respect of each $1,000 principal amount of a Note to be
converted will be as follows: 
 (1)      if Physical Settlement applies to
such conversion, subject to Section 5.03(B)(ii), a number of shares of Common Stock equal to the Conversion Rate in effect on the Conversion Date for such conversion; 

(2)      if Cash Settlement applies to such conversion, cash in an amount equal
to the sum of the Daily Conversion Values for each VWAP Trading Day in the Observation Period for such conversion; or 

(3)      if Combination Settlement applies to such conversion, consideration
consisting, subject to Section 5.03(B)(ii), of (a) a number of shares of Common Stock equal to the sum of the Daily Share Amounts for each VWAP Trading Day in the Observation Period for such conversion; and (b) an
amount of cash equal to the sum of the Daily Cash Amounts for each VWAP Trading Day in such Observation Period. 

(ii)      Cash in Lieu of Fractional Shares. If Physical Settlement or
Combination Settlement applies to the conversion of any Note and the number of shares of Common Stock deliverable pursuant to Section 5.03(B)(i) upon such conversion is not a whole number, then such number will be rounded
down to the nearest whole number and the Company will deliver, in addition to the other consideration due upon such conversion, cash in lieu of the related fractional share in an amount equal to the product of (1) such fraction and (2) (x) the
Daily VWAP on the Conversion Date for such conversion (or, if such Conversion Date is not a VWAP Trading Day, the immediately preceding VWAP Trading Day), in the case of Physical Settlement; or (y) the Daily VWAP on the last VWAP Trading Day of
the Observation Period for such conversion, in the case of Combination Settlement. 

(iii)      Conversion of Multiple Notes by a Single Holder. If a Holder
converts more than one (1) Note on a single Conversion Date, then the Conversion Consideration due in respect of such conversion will (in the case of any Global Note, to the extent permitted by, and practicable under, the Depositary Procedures)
be computed based on the total principal amount of Notes converted on such Conversion Date by such Holder. 

(iv)      Notice of Calculation of Conversion Consideration. If Cash
Settlement or 

  
 - 45 - 

 
Combination Settlement applies to the conversion of any Note, then the Company will determine the Conversion Consideration due thereupon promptly following the last VWAP Trading Day of the
applicable Observation Period and will promptly thereafter send notice to the Trustee and the Conversion Agent (if other than the Trustee) of the same and the calculation thereof in reasonable detail. Neither the Trustee nor the Conversion Agent
will have any duty to make any such determination. 
 (C)      Delivery of the Conversion
Consideration. Except as set forth in Sections 5.05(A), 5.05(D) and 5.09 Company will pay or deliver, as applicable, the Conversion Consideration due upon the conversion of any Note to the Holder as follows:
(i) if Cash Settlement or Combination Settlement applies to such conversion, on or before the second (2nd) Business Day immediately after the last VWAP Trading Day of the Observation Period for such conversion; and (ii) if Physical
Settlement applies to such conversion, on or before the second (2nd) Business Day immediately after the Conversion Date for such conversion. 

(D)      Deemed Payment of Principal and Interest; Settlement of Accrued Interest
Notwithstanding Conversion. If a Holder converts a Note, then the Company will not adjust the Conversion Rate to account for any accrued and unpaid interest on such Note, and, except as provided in Section 5.02(D), the
Company’s delivery of the Conversion Consideration due in respect of such conversion will be deemed to fully satisfy and discharge the Company’s obligation to pay the principal of, and accrued and unpaid interest, if any, on, such Note. As
a result, except as provided in Section 5.02(D), any accrued and unpaid interest on a converted Note will be deemed to be paid in full rather than cancelled, extinguished or forfeited. In addition, subject to
Section 5.02(D), if the Conversion Consideration for a Note consists of both cash and shares of the Common Stock, then accrued and unpaid interest that is deemed to be paid therewith will be deemed to be paid first out of
such cash. 
 Section 5.04.    RESERVE AND STATUS OF
COMMON STOCK ISSUED UPON CONVERSION. 

(A)      Stock Reserve. At all times when any Notes are outstanding, the Company will
reserve, out of its authorized but unissued and unreserved shares of Common Stock, a number of shares of Common Stock sufficient to permit the conversion of all then-outstanding Notes, assuming (x) Physical Settlement will apply to such
conversion; and (y) the Conversion Rate is increased by the maximum amount pursuant to which the Conversion Rate may be increased pursuant to Section 5.07. 

(B)      Status of Conversion Shares; Listing. Each Conversion Share, if any, delivered
upon conversion of any Note will be duly and validly issued, fully paid, non-assessable, free from preemptive rights and free of any lien or adverse claim (except to the extent of any lien or adverse claim
created by the action or inaction of the Holder of such Note or the Person to whom such Conversion Share will be delivered). If the Common Stock is then listed on any securities exchange, or quoted on any inter-dealer quotation system, then the
Company will cause each Conversion Share, when delivered upon conversion of any Note, to be admitted for listing on such exchange or quotation on such system. 

  
 - 46 - 

 Section 5.05.    ADJUSTMENTS TO THE
CONVERSION RATE. 
 (A)      Events Requiring an
Adjustment to the Conversion Rate. The Conversion Rate will be adjusted from time to time as follows: 

(i)      Stock Dividends, Splits and Combinations. If the Company issues
solely shares of Common Stock as a dividend or distribution on all or substantially all shares of the Common Stock, or if the Company effects a stock split or a stock combination of the Common Stock (in each case excluding an issuance solely
pursuant to a Common Stock Change Event, as to which the provisions set forth in Section 5.09 will apply), then the Conversion Rate will be adjusted based on the following formula: 

 
 

 
 where: 
  

					
	 CR0
	  	 =
	  	 the Conversion Rate in effect immediately before the Open of Business on the
Ex-Dividend Date for such dividend or distribution, or immediately before the Open of Business on the effective date of such stock split or stock combination, as applicable;

			
	 CR1
	  	 =
	  	 the Conversion Rate in effect immediately after the Open of Business on such
Ex-Dividend Date or the Open of Business on such effective date, as applicable;

			
	 OS0
	  	 =
	  	 the number of shares of Common Stock outstanding immediately before the Open of Business on such Ex-Dividend Date or effective date, as applicable, without giving effect to such dividend, distribution, stock split or stock combination; and

			
	 OS1
	  	 =
	  	 the number of shares of Common Stock outstanding immediately after giving effect to such dividend, distribution, stock
split or stock combination.

 Each adjustment to the Conversion Rate made pursuant to this
Section 5.05(A)(i) will become effective at the time set forth in the definition of CR1 above. If any dividend, distribution, stock split or stock
combination of the type described in this Section 5.05(A)(i) is declared or announced, but not so paid or made, then the Conversion Rate will be readjusted, effective as of the date the Board of Directors determines not to
pay such dividend or distribution or to effect such stock split or stock combination, to the Conversion Rate that would then be in effect had such dividend, distribution, stock split or stock combination not been declared or announced. 

(ii)    Rights, Options and Warrants. If the Company distributes, to all or

  
 - 47 - 

 
substantially all holders of Common Stock, rights, options or warrants (other than rights issued pursuant to a stockholder rights plan, to which the provisions set forth in Sections
5.05(A)(iii)(1) and 5.05(F) will apply) entitling such holders, for a period of not more than sixty (60) calendar days after the record date of such distribution, to subscribe for or purchase shares of Common Stock at a price per
share that is less than the average of the Last Reported Sale Prices per share of Common Stock for the ten (10) consecutive Trading Days ending on, and including, the Trading Day immediately before the date such distribution is announced, then
the Conversion Rate will be increased based on the following formula: 
  
 

 
 where: 
  

					
	 CR0
	  	 =
	  	 the Conversion Rate in effect immediately before the Open of Business on the
Ex-Dividend Date for such distribution;

			
	 CR1
	  	 =
	  	 the Conversion Rate in effect immediately after the Open of Business on such
Ex-Dividend Date;

			
	 OS
	  	 =
	  	 the number of shares of Common Stock outstanding immediately before the Open of Business on such Ex-Dividend Date;

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

			
	 Y
	  	 =
	  	 a number of shares of Common Stock obtained by dividing (x) the aggregate price payable to exercise such rights,
options or warrants by (y) the average of the Last Reported Sale Prices per share of Common Stock for the ten (10) consecutive Trading Days ending on, and including, the Trading Day immediately before the date such distribution is
announced.

 Each adjustment to the Conversion Rate made pursuant to this
Section 5.05(A)(ii) will become effective at the time set forth in the definition of CR1 above. To the extent that shares of Common Stock are not
delivered after the expiration of such rights, options or warrants (including as a result of such rights, options or warrants not being exercised), the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect had the
increase to the Conversion Rate for such distribution been made on the basis of delivery of only the number of shares of Common Stock actually delivered upon exercise of such rights, option or warrants. To the extent such rights, options or warrants
are not so distributed, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect had the Ex-Dividend Date for the distribution of such rights, options or warrants not
occurred. 
 For purposes of this Section 5.05(A)(ii) and
Section 5.01(C)(i)(3)(a), in determining 

  
 - 48 - 

 
whether any rights, options or warrants entitle holders of Common Stock to subscribe for or purchase shares of Common Stock at a price per share that is less than the average of the Last Reported
Sale Prices per share of Common Stock for the ten (10) consecutive Trading Days ending on, and including, the Trading Day immediately before the date of the distribution of such rights, options or warrants is announced, and in determining the
aggregate price payable to exercise such rights, options or warrants, there will be taken into account any consideration the Company receives for such rights, options or warrants and any amount payable on exercise thereof, with the value of such
consideration, if not cash, to be determined by the Company in good faith. 

(iii)        Spin-Offs and Other Distributed Property. 

(1)      Distributions Other than Spin-Offs. If the Company distributes
shares of its Capital Stock, evidences of its indebtedness or other assets or property of the Company, or rights, options or warrants to acquire Capital Stock of the Company or other securities, to all or substantially all holders of the Common
Stock, excluding: 
 (v)      dividends, distributions, rights, options or
warrants for which an adjustment to the Conversion Rate is required (or would be required without regard to Section 5.05(C)) pursuant to Section 5.05(A)(i) or 5.05(A)(ii); 

(w)      dividends or distributions paid exclusively in cash for which an
adjustment to the Conversion Rate is required (or would be required without regard to Section 5.05(C)) pursuant to Section 5.05(A)(iv); 

(x)      rights issued or otherwise distributed pursuant to a stockholder
rights plan, except to the extent provided in Section 5.05(F); 

(y)      Spin-Offs for which an adjustment to the Conversion Rate is required
(or would be required without regard to Section 5.05(C)) pursuant to Section 5.05(A)(iii)(2); and 

(z)      a distribution solely pursuant to a Common Stock Change Event, as to
which the provisions set forth in Section 5.09 will apply, 
 then the Conversion
Rate will be increased based on the following formula: 
  
 

 
 where: 

 

					
	 CR0
	  	 =
	  	 the Conversion Rate in effect immediately before the Open of Business on the Ex-Dividend Date for such
distribution;

  
 - 49 - 

 
					
	 CR1
	  	 =
	  	 the Conversion Rate in effect immediately after the Open of Business on such
Ex-Dividend Date;

			
	 SP
	  	 =
	  	 the average of the Last Reported Sale Prices per share of Common Stock for the ten (10) consecutive Trading Days
ending on, and including, the Trading Day immediately before such Ex-Dividend Date; and

			
	 FMV
	  	 =
	  	 the fair market value (as determined by the Company in good faith), as of such
Ex-Dividend Date, of the shares of Capital Stock, evidences of indebtedness, assets, property, rights, options or warrants distributed per share of Common Stock pursuant to such distribution.

 Each adjustment to the Conversion Rate made pursuant to this
Section 5.05(A)(iii)(1) will become effective at the time set forth in the definition of CR1 above. If FMV is equal to or greater than SP,
then, in lieu of the foregoing adjustment to the Conversion Rate, each Holder will receive, for each $1,000 principal amount of Notes held by such Holder on the record date for such distribution, at the same time and on the same terms as holders of
Common Stock, the amount and kind of shares of Capital Stock, evidences of indebtedness, assets, property, rights, options or warrants that such Holder would have received if such Holder had owned, on such record date, a number of shares of Common
Stock equal to the Conversion Rate in effect on such record date. 
 To the extent such distribution is not so paid or
made, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect had the adjustment been made on the basis of only the distribution, if any, actually made or paid. 

(2)      Spin-Offs. If the Company distributes or dividends shares of
Capital Stock of any class or series, or similar equity interest, of or relating to a Subsidiary or other business unit of the Company to all or substantially all holders of the Common Stock (other than solely pursuant to a Common Stock Change
Event, as to which the provisions set forth in Section 5.09 will apply), and such Capital Stock or equity interest is listed or quoted (or will be listed or quoted upon the consummation of the transaction) on a U.S.
national securities exchange (a “Spin-Off”), then the Conversion Rate will be increased based on the following formula: 

 
 

 
 where: 

 

					
	 CR0
	  	 =
	  	 the Conversion Rate in effect immediately before the Open of

  
 - 50 - 

 
					
		  		  	 Business on the Ex-Dividend Date for such
Spin-Off;

			
	 CR1
	  	 =
	  	 the Conversion Rate in effect immediately after the Open of Business on such
Ex-Dividend Date;

			
	 FMV
	  	 =
	  	 the product of (x) the average of the Last Reported Sale Prices per share or unit of the Capital Stock or equity
interests distributed in such Spin-Off over the ten (10) consecutive Trading Day period (the “Spin-Off Valuation Period”) beginning on, and including,
such Ex-Dividend Date (such average to be determined as if references to Common Stock in the definitions of Last Reported Sale Price and Trading Day were instead references to such Capital Stock or equity
interests); and (y) the number of shares or units of such Capital Stock or equity interests distributed per share of Common Stock in such Spin-Off; and

			
	 SP
	  	 =
	  	 the average of the Last Reported Sale Prices per share of Common Stock for each Trading Day in the Spin-Off Valuation Period.

 The adjustment to the Conversion Rate pursuant to this
Section 5.05(A)(iii)(2) will be calculated as of the Close of Business on the last Trading Day of the Spin-Off Valuation Period but will be given effect immediately after the Open of
Business on the Ex-Dividend Date for the Spin-Off, with retroactive effect. If a Note is converted and the Conversion Date (in the case of Physical Settlement) or any
VWAP Trading Day of the applicable Observation Period (in the case of Cash Settlement or Combination Settlement) occurs during the Spin-Off Valuation Period, then, notwithstanding anything to the contrary in
this Indenture or the Notes, the Company will, if necessary, delay the settlement of such conversion until the second (2nd) Business Day after the last day of the Spin-Off Valuation Period. 

To the extent any dividend or distribution of the type set forth in this Section 5.05(A)(iii)(2) is
declared but not made or paid, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect had the adjustment been made on the basis of only the dividend or distribution, if any, actually made or paid. 

(iv)      Cash Dividends or Distributions. If any cash dividend or
distribution is made to all or substantially all holders of Common Stock, then the Conversion Rate will be increased based on the following formula: 
  

 

  
 - 51 - 

 where: 

 

					
	 CR0
	  	 =
	  	 the Conversion Rate in effect immediately before the Open of Business on the
Ex-Dividend Date for such dividend or distribution;

			
	 CR1
	  	 =
	  	 the Conversion Rate in effect immediately after the Open of Business on such
Ex-Dividend Date for such dividend or distribution;

			
	 SP
	  	 =
	  	 the Last Reported Sale Price per share of Common Stock on the Trading Day immediately before such Ex-Dividend Date for such dividend or distribution;

			
	 D
	  	 =
	  	 the cash amount distributed per share of Common Stock in such dividend or distribution;

 Each adjustment to the Conversion Rate made pursuant to this
Section 5.05(A)(iv) will become effective at the time set forth in the definition of CR1 above. If D is equal to or greater than SP, then,
in lieu of the foregoing adjustment to the Conversion Rate, each Holder will receive, for each $1,000 principal amount of Notes held by such Holder on the record date for such dividend or distribution, at the same time and on the same terms as
holders of Common Stock, the amount of cash that such Holder would have received if such Holder had owned, on such record date, a number of shares of Common Stock equal to the Conversion Rate in effect on such record date. 

To the extent such dividend or distribution is declared but not made or paid, the Conversion Rate will be readjusted to the
Conversion Rate that would then be in effect had the adjustment been made on the basis of only the dividend or distribution, if any, actually made or paid. 

(v)      Tender Offers or Exchange Offers. If the Company or any of its
Subsidiaries makes a payment in respect of a tender offer or exchange offer for shares of Common Stock that is subject to the then-applicable tender offer rules under the Exchange Act (other than an odd-lot
tender offer that satisfies the requirements of Rule 13e-4(h)(5), or any successor rule), and the value (determined as of the Expiration Time by the Company) of the cash and other consideration paid per share
of Common Stock in such tender or exchange offer exceeds the average (such average, the “Reference Price”) of the Last Reported Sale Prices per share of Common Stock over the 10 consecutive Trading Day period (the
“Tender/Exchange Offer Valuation Period”) beginning on, and including, the Trading Day immediately after the last date (the “Expiration Date”) on which tenders or exchanges may be made pursuant to such tender or
exchange offer (as it may be amended), then the Conversion Rate will be increased based on the following formula: 
  
 

 

  
 - 52 - 

 where: 

 

					
	 CR0
	  	 =
	  	 the Conversion Rate in effect immediately before the time (the “Expiration Time”) such tender or exchange offer
expires;

			
	 CR1
	  	 =
	  	 the Conversion Rate in effect immediately after the Expiration Time;

			
	 AC
	  	 =
	  	 the aggregate value (determined as of the Expiration Time by the Company in good faith) of all cash and other consideration
paid or payable for shares of Common Stock purchased in such tender or exchange offer;

			
	 OS0
	  	 =
	  	 the number of shares of Common Stock outstanding immediately before the Expiration Time (before giving effect to the
purchase of all shares of Common Stock accepted for purchase or exchange in such tender or exchange offer);

			
	 OS1
	  	 =
	  	 the number of shares of Common Stock outstanding immediately after the Expiration Time (excluding all shares of Common
Stock accepted for purchase or exchange in such tender or exchange offer); and

			
	 SP
	  	 =
	  	 the Reference Price per share of Common Stock;

 provided, however, that the Conversion Rate will in no event be adjusted
down pursuant to this Section 5.05(A)(v), except to the extent provided in the immediately following paragraph. The adjustment to the Conversion Rate pursuant to this Section 5.05(A)(v) will be
calculated as of the Close of Business on the last Trading Day of the Tender/Exchange Offer Valuation Period but will be given effect immediately after the Expiration Time, with retroactive effect. If a Note is converted and the Conversion Date (in
the case of Physical Settlement) or any VWAP Trading Day of the applicable Observation Period (in the case of Cash Settlement or Combination Settlement) occurs during the Tender/Exchange Offer Valuation Period, then, notwithstanding anything to the
contrary in this Indenture or the Notes, the Company will, if necessary, delay the settlement of such conversion until the second (2nd) Business Day after the last day of the Tender/Exchange Offer Valuation Period. 

To the extent such tender or exchange offer is announced but not consummated (including as a result of the Company being
precluded from consummating such tender or exchange offer under applicable law), or any purchases or exchanges of shares of Common Stock in such tender or exchange offer are rescinded, the Conversion Rate will be readjusted to the Conversion Rate
that would then be in effect had the adjustment been made on the basis of only the purchases or exchanges of shares of Common Stock, if any, actually made, and not rescinded, in such tender or exchange offer. 

(B)      No Adjustments in Certain Cases. 

(i)    Where Holders Participate in the Transaction or Event Without Conversion.
Notwithstanding anything to the contrary in Section 5.05(A), the Company 

  
 - 53 - 

 
will not be obligated to adjust the Conversion Rate on account of a transaction or other event otherwise requiring an adjustment pursuant to Section 5.05(A) (other than
a stock split or combination of the type set forth in Section 5.05(A)(i) or a tender or exchange offer of the type set forth in Section 5.05(A)(v)) if each Holder participates, at the same time and
on the same terms as holders of Common Stock, and solely by virtue of being a Holder of Notes, in such transaction or event without having to convert such Holder’s Notes and as if such Holder held a number of shares of Common Stock equal to the
product of (i) the Conversion Rate in effect on the related record date; and (ii) the aggregate principal amount (expressed in thousands) of Notes held by such Holder on such date. 

(ii)        Certain Events. The Company will not be required
to adjust the Conversion Rate except as provided in Section 5.05 or Section 5.07. Without limiting the foregoing, the Company will not be obligated to adjust the Conversion Rate on account of: 

(1)    except as otherwise provided in Section 5.05, the sale
of shares of Common Stock for a purchase price that is less than the market price per share of Common Stock or less than the Conversion Price; 

(2)    the issuance of any shares of Common Stock pursuant to any present or future plan
providing for the reinvestment of dividends or interest payable on the Company’s securities and the investment of additional optional amounts in shares of Common Stock under any such plan; 

(3)    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 or incentive plan or program (including pursuant to any “evergreen” provision thereof) of, or assumed by, the Company or any of its Subsidiaries;

 (4)    the issuance of any shares of Common Stock pursuant to any option, warrant,
right or convertible, exercisable or exchangeable security of the Company outstanding as of the Issue Date; 

(5)    a third-party tender offer, other than a tender offer that is subject to
Section 5.05(A)(v); 
 (6)    the repurchase of any shares of
Common Stock pursuant to an open market share purchase program or other buyback transaction, including structured or derivative transactions such as accelerated share repurchase transactions or similar forward derivatives, or other buyback
transaction, in each case that is not subject to Section 5.05(A)(v); 

(7)    a change in the par value (or lack of par value) of the Common Stock; or 

(8)    accrued and unpaid interest on the Notes. 

  
 - 54 - 

 (C)      Adjustment Deferral. If an
adjustment to the Conversion Rate otherwise required by this Article 5 would result in a change of less than one percent (1%) to the Conversion Rate, then, notwithstanding anything to the contrary in this Article 5, the Company may, at
its election, defer and carry forward such adjustment, except that all such deferred adjustments must be given effect immediately upon the earliest to occur of the following: (i) when all such deferred adjustments would result in an aggregate
change of at least one percent (1%) to the Conversion Rate; (ii) the Conversion Date of any Note (in the case of Physical Settlement) or the first VWAP Trading Day of any Observation Period of any Note (in the case of Cash Settlement or
Combination Settlement); (iii) the date a Fundamental Change or Make-Whole Fundamental Change occurs; (iv) the date the Company calls any Notes for Redemption; and (v) November 1, 2023. 

(D)      Adjustments Not Yet Effective. Notwithstanding anything to the contrary in this
Indenture or the Notes, if: 
 (i)      a Note is to be converted pursuant to
Physical Settlement or Combination Settlement; 
 (ii)      the record date or
effective date for any event that requires an adjustment to the Conversion Rate pursuant to Section 5.05(A)(i) to (iv), inclusive, has occurred on or before the Conversion Date for such conversion (in the case of
Physical Settlement) or on or before any VWAP Trading Day in the Observation Period for such conversion (in the case of Combination Settlement), but an adjustment to the Conversion Rate for such event has not yet become effective as of such
Conversion Date or VWAP Trading Day, as applicable; 
 (iii)      the
Conversion Consideration due upon such conversion (in the case of Physical Settlement) or due in respect of such VWAP Trading Day (in the case of Combination Settlement) includes any whole shares of Common Stock; and 

(iv)      such shares are not entitled to participate in such event (because
they were not held on the related record date or otherwise), 
 then, solely for purposes of such conversion, the Company will, without
duplication, give effect to such adjustment on such Conversion Date (in the case of Physical Settlement) or such VWAP Trading Day (in the case of Combination Settlement), and, for the avoidance of doubt, such shares will not be entitled to
participate in such event. In such case, if the date on which the Company is otherwise required to deliver the consideration due upon such conversion is before the first date on which the amount of such adjustment can be determined, then the Company
will delay the settlement of such conversion until the second (2nd) Business Day after such first date. 

(E)      Conversion Rate Adjustments where Converting Holders Participate in the Relevant
Transaction or Event. Notwithstanding anything to the contrary in this Indenture or the Notes, if: 

(i)      a Conversion Rate adjustment for any dividend or distribution becomes
effective on any Ex-Dividend Date pursuant to Section 5.05(A); 

  
 - 55 - 

 (ii)      a Note is to be
converted pursuant to Physical Settlement or Combination Settlement; 

(iii)     the Conversion Date for such conversion (in the case of Physical
Settlement) or any VWAP Trading Day in the Observation Period for such conversion (in the case of Combination Settlement) occurs on or after such Ex-Dividend Date and on or before the related record date; 

(iv)     the Conversion Consideration due upon such conversion (in the case of
Physical Settlement) or due with respect to such VWAP Trading Day (in the case of Combination Settlement) includes any whole shares of Common Stock based on a Conversion Rate that is adjusted for such dividend or distribution; and 

(v)      such shares would be entitled to participate in such dividend or
distribution (including pursuant to Section 5.02(C)), 
 then (x) such Conversion Rate adjustment will not be
given effect for such conversion (in the case of Physical Settlement) or for such VWAP Trading Day (in the case of Combination Settlement); and (y) the shares of Common Stock, if any, issuable upon such conversion (in the case of Physical
Settlement) or issuable with respect to such VWAP Trading Day (in the case of Combination Settlement) based on such unadjusted Conversion Rate will be entitled to participate in such dividend or distribution. 

(F)      Stockholder Rights Plans. If any shares of Common Stock are to be issued upon
conversion of any Note and, at the time of such conversion, the Company has in effect any stockholder rights plan, then the Holder of such Note will be entitled to receive, in addition to, and concurrently with the delivery of, the Conversion
Consideration otherwise payable under this Indenture upon such conversion, the rights set forth in such stockholder rights plan, unless such rights have separated from the Common Stock at such time, in which case, and only in such case, the
Conversion Rate will be adjusted pursuant to Section 5.05(A)(iii)(1) on account of such separation as if, at the time of such separation, the Company had made a distribution of the type referred to in such Section to all
holders of the Common Stock, subject to readjustment in accordance with such Section if such rights expire, terminate or are redeemed. 

(G)      Limitation on Effecting Transactions Resulting in Certain Adjustments. The
Company will not engage in or be a party to any transaction or event that would require the Conversion Rate to be adjusted pursuant to Section 5.05(A) or Section 5.07 to an amount that would result
in the Conversion Price per share of Common Stock being less than the par value per share of Common Stock. 

(H)      Equitable Adjustments to Last Reported Sale Price. Whenever any provision of
this Indenture requires the Company to calculate the average of the Last Reported Sale Prices, or any function thereof, over a span of multiple days (including to calculate the Stock Price or an adjustment to the Conversion Rate), the Company will
make proportionate adjustments, if any, to such calculations to account for any adjustment to the Conversion Rate pursuant to Section 5.05(A)(i) that becomes effective, or any event requiring such an adjustment to the
Conversion Rate where the Ex-Dividend Date or effective date, as applicable, of such event occurs, at any 

  
 - 56 - 

 
time during the period over which such average is to be calculated. 

(I)        Calculation of Number of Outstanding Shares of Common Stock. For
purposes of Section 5.05(A), the number of shares of Common Stock outstanding at any time will (i) include shares issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock; and
(ii) exclude shares of Common Stock held in the Company’s treasury (unless the Company pays any dividend or makes any distribution on shares of Common Stock held in its treasury). 

(J)        Calculations. All calculations with respect to the Conversion Rate
and adjustments thereto will be made to the nearest cent (with 0.5 of a cent rounded upward) or to the nearest 1/10,000th of a share of Common Stock (with 5/100,000ths rounded upward), as applicable. 

(K)       Notice of Conversion Rate Adjustments. Upon the effectiveness of any
adjustment to the Conversion Rate pursuant to Section 5.05(A), the Company will promptly send notice to the Holders, the Trustee and the Conversion Agent (if other than the Trustee) containing (i) a brief description
of the transaction or other event on account of which such adjustment was made; (ii) the Conversion Rate in effect immediately after such adjustment; and (iii) the effective time of such adjustment. 

Section 5.06.    VOLUNTARY ADJUSTMENTS. 

(A)        Generally. To the extent permitted by law and applicable stock
exchange rules, the Company, from time to time, may (but is not required to) increase the Conversion Rate by any amount if (i) the Board of Directors determines that such increase is either (x) in the best interest of the Company; or
(y) advisable to avoid or diminish any income tax imposed on holders of Common Stock or rights to purchase Common Stock as a result of any dividend or distribution of shares (or rights to acquire shares) of Common Stock or any similar event;
(ii) such increase is in effect for a period of at least twenty (20) Business Days; and (iii) such increase is irrevocable during such period. 

(B)        Notice of Voluntary Increases. If the Board of Directors determines
to increase the Conversion Rate pursuant to this Section 5.06, then, on or before the effective date of such increase, the Company will send notice to each Holder of such increase, the amount thereof and the period during
which such increase will be in effect. 
 Section 5.07.    ADJUSTMENTS TO THE
CONVERSION RATE IN CONNECTION WITH A MAKE-WHOLE FUNDAMENTAL CHANGE. 

(A)        Generally. If a Make-Whole Fundamental Change occurs and the
Conversion Date for the conversion of a Note occurs during the related Make-Whole Fundamental Change Conversion Period, then, subject to this Section 5.07, the Conversion Rate applicable to such conversion will be increased
by a number of shares (the “Additional Shares”) set forth in the table below corresponding (after interpolation as provided in, and subject to, the provisions below) to the Make-Whole Fundamental Change Effective Date and the Stock
Price of such Make-Whole Fundamental Change: 

  
 - 57 - 

																									
	 Make-Whole

Fundamental
	  	Stock Price
	
Change Effective                

Date             
               
	  	 
	  	$4.68	  	$5.00	  	$5.25	  	$5.38	  	$6.00	  	$7.00	  	$10.00	  	$15.00	  	$20.00	  	$25.00	  	$45.00	  	$65.00
	 February 19, 2019
	  	27.8707 	  	27.8707 	  	27.8707  	  	27.8707 	  	27.8707 	  	27.8707 	  	27.8707 	  	21.8111 	  	16.3583 	  	13.0867 	  	7.2704 	  	0.0000 
	 March 1, 2020
	  	27.8707 	  	27.8707 	  	27.8707  	  	27.8707 	  	27.8707 	  	27.8707 	  	26.0000 	  	17.3333 	  	13.0000 	  	10.4000 	  	5.7778 	  	0.0000 
	 March 1, 2021
	  	27.8707 	  	27.8707 	  	27.8707  	  	27.8707 	  	27.8707 	  	27.8707 	  	19.5000 	  	13.0000 	  	9.7500 	  	7.8000 	  	4.3333 	  	0.0000 
	 March 1, 2022
	  	27.8707 	  	27.8707 	  	27.5773  	  	24.1546 	  	21.6667 	  	18.5805 	  	13.0000 	  	8.6667 	  	6.5000 	  	5.2000 	  	2.8889 	  	0.0000 
	 March 1, 2023
	  	27.8707 	  	24.3752 	  	16.1245  	  	12.0773 	  	10.8333 	  	9.2902 	  	6.5000 	  	4.3333 	  	3.2500 	  	2.6000 	  	1.4444 	  	0.0000 
	 March 1, 2024
	  	27.8707 	  	14.1955 	  	4.6717  	  	0.0000 	  	0.0000 	  	0.0000 	  	0.0000 	  	0.0000 	  	0.0000 	  	0.0000 	  	0.0000 	  	0.0000 

 If such Make-Whole Fundamental Change Effective Date or Stock Price is not set forth in the
table above, then: 
 (i)      if such Stock Price is between two Stock Prices
in the table above or the Make-Whole Fundamental Change Effective Date is between two dates in the table above, then the number of Additional Shares will be determined by a straight-line interpolation between the numbers of Additional Shares set
forth for the higher and lower Stock Prices in the table and the earlier and later dates in the table above, as applicable, based on a 365- or 366-day year, as
applicable; and 
 (ii)      if the Stock Price is greater than $65.00
(subject to adjustment in the same manner as the Stock Prices set forth in the column headings of the table above are adjusted pursuant to Section 5.07(B)), or less than $4.68 (subject to adjustment in the same manner), per
share, then no Additional Shares will be added to the Conversion Rate. 
 Notwithstanding anything to the contrary in this
Indenture or the Notes, in no event will the Conversion Rate be increased to an amount that exceeds 213.6752 shares of Common Stock per $1,000 principal amount of Notes, which amount is subject to adjustment in the same manner as, and at the same
time and for the same events for which, the Conversion Rate is required to be adjusted pursuant to Section 5.05(A). 

(B)        Adjustment of Stock Prices and Additional Shares. The Stock Prices
in the first row (i.e., the column headers) of the table set forth in Section 5.07(A) will be adjusted at the same time and for the same events for which, the Conversion Rate is adjusted as a result of the operation
of Section 5.05(A). The adjusted Stock Prices will equal the Stock Prices immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the Conversion Rate immediately prior to the adjustment
giving rise to the Stock Price adjustment and the denominator of which is the Conversion Rate as so adjusted. The numbers of Additional Shares in the table set forth in Section 5.07(A) will be adjusted in the same manner
as, and at the same time and for the same events for which, the Conversion Rate is adjusted pursuant to Section 5.07(A). 

(C)        Notice of the Occurrence of a Make-Whole Fundamental Change. The
Company will notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee) of each Make-Whole Fundamental Change no later than the second (2nd) Business Day after the effective date of such Make-Whole Fundamental Change (in
the case of a Make-Whole Fundamental Change pursuant to clause (A) of the definition thereof) or in the manner set forth in Section 4.03 (in the case of a Make-Whole Fundamental Change pursuant to clause
(B) of the definition thereof). 

  
 - 58 - 

 (D)        Settlement of Cash
Make-Whole Fundamental Changes. For the avoidance of doubt, if holders of Common Stock receive solely cash in a Make-Whole Fundamental Change, then, pursuant to Section 5.09, conversions of Notes will thereafter be
settled no later than the third (3rd) Business Day after the relevant Conversion Date. 

Section 5.08.    EXCHANGE IN LIEU OF CONVERSION.

 When a Holder surrenders any Note for conversion, the Company may, at its election (an “Exchange
Election”), direct the Conversion Agent to surrender, on or prior to the Business Day immediately following the Conversion Date, such Note to one or more financial institutions designated by the Company for exchange in lieu of conversion.
In order to accept any Notes surrendered for conversion, the designated financial institution(s) must agree to timely pay or deliver, as the case may be, in exchange for such Note, the Conversion Consideration that would otherwise be due pursuant to
this Article 5. To make an Exchange Election with respect to any Note, the Company must, by the Close of Business on the Business Day following the relevant Conversion Date, notify in writing the Trustee, the Conversion Agent (if other than
the Trustee) and the Holder of such Note and the Company must notify the designated financial institution(s) of the relevant deadline for delivery of the Conversion Consideration and the type of Conversion Consideration to be paid or delivered, as
the case may be. 
 Any Notes exchanged by the designated financial institution(s) will remain outstanding, subject to the
Depositary Procedures, if applicable. If any financial institution agrees to accept any Notes for exchange but does not timely pay or deliver, as the case may be, the related Conversion Consideration, or if such designated financial institution does
not accept the Notes for exchange, then the Company will pay or deliver, as the case may be, the relevant Conversion Consideration, as, and at the time, required pursuant to this Indenture as if the Company had not made the exchange election. 

The Company’s designation of any financial institution(s) to which the Notes may be submitted for exchange does not
require such financial institution(s) to accept any Notes. 
 Section 5.09.    EFFECT OF
COMMON STOCK CHANGE EVENT. 

(A)        Generally. If there occurs any: 

(i)      recapitalization, reclassification or change of the Common Stock (other
than (x) changes solely resulting from a subdivision or combination of the Common Stock, (y) a change only in par value or from par value to no par value or no par value to par value and (z) stock splits and stock combinations that do
not involve the issuance of any other series or class of securities); 

(ii)      consolidation, merger, combination or binding share exchange involving
the Company; or 
 (iii)      sale, lease or other transfer of all or
substantially all of the assets of the Company and its Subsidiaries, taken as a whole, to any Person, 
 and, as a result which, the Common
Stock is converted into, or is exchanged for, or represents 

  
 - 59 - 

 
solely the right to receive, other securities, cash or other property, or any combination of the foregoing (such an event, a “Common Stock Change Event,” and such other
securities, cash or property, the “Reference Property,” and the amount and kind of Reference Property that a holder of one (1) share of Common Stock would be entitled to receive on account of such Common Stock Change Event
(without giving effect to any arrangement not to issue or deliver a fractional portion of any security or other property), a “Reference Property Unit”), then, notwithstanding anything to the contrary in this Indenture or the Notes,

 (1)      from and after the effective time of such Common Stock Change
Event, (I) the Conversion Consideration due upon conversion of any Note and the conditions to any such conversion, will be determined in the same manner as if each reference to any number of shares of Common Stock in this Article 5 (or
in any related definitions) were instead a reference to the same number of Reference Property Units; (II) for purposes of Section 4.03, each reference to any number of shares of Common Stock in such Section (or in any
related definitions) will instead be deemed to be a reference to the same number of Reference Property Units; and (III) for purposes of the definition of “Fundamental Change” and “Make-Whole Fundamental Change,” (x) the
terms “Common Stock” and “common equity” will be deemed to mean the common equity (which term will be deemed to include depositary receipts or shares representing common equity), if any, forming part of such Reference Property;
and (y) references to the Company will be deemed to be references to the entity that is the issuer of such common equity; 

(2)      if such Reference Property Unit consists entirely of cash, then the
Company will be deemed to elect Cash Settlement and will pay the cash due in respect of all conversions whose Conversion Date occurs on or after the effective date of such Common Stock Change Event no later than the second (2nd) Business Day after
such Conversion Date; and 
 (3)      for these purposes, the Daily VWAP or
Last Reported Sale Price of any Reference Property Unit or portion thereof that does not consist of a class of securities will be the fair value of such Reference Property Unit or portion thereof, as applicable, determined in good faith by the
Company (or, in the case of cash denominated in U.S. dollars, the face amount thereof). 
 If the Reference Property
consists of more than a single type of consideration to be determined based in part upon any form of stockholder election, then the composition of the Reference Property Unit will be deemed to be the weighted average, per share of Common Stock, of
the types and amounts of consideration actually received by the holders of Common Stock. The Company will notify Holders of the weighted average as soon as practicable after such determination is made. 

At or before the effective time of such Common Stock Change Event, the Company and the resulting, surviving or transferee
Person (if not the Company) of such Common Stock Change Event (the “Successor Person”) will execute and deliver to the Trustee a supplemental indenture pursuant to Section 8.01(F), which supplemental
indenture will give effect to the 

  
 - 60 - 

 
provisions of this Section 5.09(A) and contain such other provisions as the Company reasonably determines are appropriate to preserve the economic interests of the
Holders. If such Reference Property includes, in whole or in part, any stock or other securities, then such supplemental indenture will, to the extent applicable, provide for subsequent adjustments to the Conversion Rate in a manner consistent with
Section 5.05. In addition, if the Reference Property includes, in whole or in part, shares of stock or other securities or assets (other than cash or cash equivalents) of a Person other than the Successor Person, then such
other Person will also execute such supplemental indenture and such supplemental indenture will contain such additional provisions the Company reasonably determines are appropriate to preserve the economic interests of the Holders. 

(B)        Notice of Common Stock Change Events. No later than the second (2nd)
Business Day after the effective date of each Common Stock Change Event, the Company will notify the Holders and the Trustee of such Common Stock Change Event, including a brief description of such Common Stock Change Event, its effective date and a
brief description of the anticipated change in the conversion right of the Notes. 

(C)        Compliance Covenant. The Company will not become a party to any
Common Stock Change Event unless its terms are consistent with this Section 5.09. 
 Article
6.    SUCCESSORS 
 Section 6.01.    WHEN THE COMPANY
MAY MERGE, ETC. 

(A)        Generally. The Company will not consolidate with or merge with or
into, or sell, lease or otherwise transfer, in one transaction or a series of transactions, all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, to another Person (a “Business Combination
Event”), unless: 
 (i)      the resulting, surviving or transferee
Person either (x) is the Company or (y) if not the Company, is a corporation (the “Successor Corporation”) duly organized and existing under the laws of the United States of America, any State thereof or the District of
Columbia that expressly assumes (by executing and delivering to the Trustee, at or before the effective time of such Business Combination Event, a supplemental indenture pursuant to Section 8.01(E)) all of the
Company’s obligations under this Indenture and the Notes; and 

(ii)      immediately after giving effect to such Business Combination Event, no
Default or Event of Default will have occurred and be continuing. 
 Section 6.02.    SUCCESSOR
CORPORATION SUBSTITUTED. 
 At the effective time of any Business Combination Event that
complies with Section 6.01, the Successor Corporation (if not the Company) will succeed to, and may exercise every right and power of, the Company under this Indenture and the Notes with the same effect as if such Successor
Corporation had been named as the Company in this Indenture and the Notes, and, except in the case of a lease, the predecessor Company will be discharged from its obligations under this Indenture and the Notes. 

  
 - 61 - 

 Article 7.    DEFAULTS AND REMEDIES 

Section 7.01.    EVENTS OF DEFAULT. 

(A)        Definition of Events of Default. “Event of Default”
means the occurrence of any of the following: 
 (i)      a default in the
payment when due (whether at maturity, upon Redemption or Repurchase Upon Fundamental Change or otherwise) of the principal of, or the Redemption Price or Fundamental Change Repurchase Price for, any Note; 

(ii)      a default for thirty (30) days in the payment when due of
interest on any Note; 
 (iii)      the Company’s failure to deliver,
when required by this Indenture, a Fundamental Change Notice or a notice pursuant to Section 5.01(C)(i)(3)(b); 

(iv)      a default in the Company’s obligation to convert a Note in
accordance with Article 5 upon the exercise of the conversion right with respect thereto and such failure continues for five (5) Business Days; 

(v)      a default in the Company’s obligations under Article 6;

 (vi)      a default in any of the Company’s obligations or agreements
under this Indenture or the Notes (other than a default set forth in clause (i), (ii), (iii), (iv) or (v) of this Section 7.01(A)) where such default is not cured or waived
within sixty (60) days after notice to the Company by the Trustee, or to the Company and the Trustee by Holders of at least twenty five percent (25%) of the aggregate principal amount of Notes then outstanding, which notice must specify such
default, demand that it be remedied and state that such notice is a “Notice of Default”; 

(vii)      a default by the Company or any of its Significant Subsidiaries with
respect to any one or more mortgages, agreements or other instruments under which there is outstanding, or by which there is secured or evidenced, any indebtedness for money borrowed of at least fifteen million dollars ($15,000,000) (or its foreign
currency equivalent) in the aggregate of the Company or any of its Significant Subsidiaries, whether such indebtedness exists as of the Issue Date or is thereafter created, where such default: 

(1)      constitutes a failure to pay the principal of any of such indebtedness
when due and payable (after the expiration of all applicable grace periods) at its stated maturity, upon required repurchase, upon declaration of acceleration or otherwise; or 

(2)      results in such indebtedness becoming or being declared due and
payable before its stated maturity (an “Acceleration”), 

  
 - 62 - 

 and, in either case, such Acceleration has not been rescinded or annulled or
such failure to pay or default is not cured or waived, or such indebtedness is not paid or discharged in full, within sixty (60) days after written notice to the Company by the Trustee or to the Company and the Trustee by Holders of at least
twenty five percent (25%) of the aggregate principal amount of Notes then outstanding; 

(viii)     one or more final judgments being rendered against the Company or any of
its Significant Subsidiaries for the payment of at least fifteen million dollars ($15,000,000) (or its foreign currency equivalent) in the aggregate (excluding any amounts covered by insurance), where such judgment is not discharged or stayed within
sixty (60) days after (1) the date on which the right to appeal the same has expired, if no such appeal has commenced; or (2) the date on which all rights to appeal have been extinguished; and 

(ix)      the Company or any of its Significant Subsidiaries, pursuant to or
within the meaning of any Bankruptcy Law, either: 
 (1)      commences a
voluntary case or proceeding; 
 (2)      consents to the entry of an order
for relief against it in an involuntary case or proceeding; 

(3)      consents to the appointment of a custodian of it or for any
substantial part of its property; 
 (4)      makes a general assignment for
the benefit of its creditors; 
 (5)      takes any comparable action under
any foreign Bankruptcy Law; or 
 (6)      generally is not paying its debts
as they become due; or 
 (x)      a court of competent jurisdiction enters an
order or decree under any Bankruptcy Law that either: 
 (1)      is for
relief against Company or any of its Significant Subsidiaries in an involuntary case or proceeding; 

(2)      appoints a custodian of the Company or any of its Significant
Subsidiaries, or for any substantial part of the property of the Company or any of its Significant Subsidiaries; 

(3)      orders the winding up or liquidation of the Company or any of its
Significant Subsidiaries; or 
 (4)      grants any similar relief under any
foreign Bankruptcy Law, 
 and, in each case under this Section 7.01(A)(x), such order or decree
remains unstayed 

  
 - 63 - 

 
and in effect for at least sixty (60) days. 

(B)      Cause Irrelevant. Each of the events set forth in
Section 7.01(A) will constitute an Event of Default regardless of the cause thereof or whether voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court or any order,
rule or regulation of any administrative or governmental body. 
 Section 7.02.  ACCELERATION. 

(A)      Automatic Acceleration in Certain Circumstances. If an Event of Default set
forth in Section 7.01(A)(ix) or 7.01(A)(x) occurs with respect to the Company (and not solely with respect to a Significant Subsidiary of the Company), then the principal amount of, and all accrued and unpaid
interest on, all of the Notes then outstanding will immediately become due and payable without any further action or notice by any Person. 

(B)      Optional Acceleration. Subject to Section 7.03, if an
Event of Default (other than an Event of Default set forth in Section 7.01(A)(ix) or 7.01(A)(x) with respect to the Company and not solely with respect to a Significant Subsidiary of the Company) occurs and is
continuing, then the Trustee, by notice to the Company, or Holders of at least twenty five percent (25%) of the aggregate principal amount of Notes then outstanding, by notice to the Company and the Trustee, may declare the principal amount of, and
all accrued and unpaid interest on, all of the Notes then outstanding to become due and payable immediately. 

(C)      Rescission of Acceleration. Notwithstanding anything to the contrary in this
Indenture or the Notes, the Holders of a majority in aggregate principal amount of the Notes then outstanding, by notice to the Company and the Trustee, may, on behalf of all Holders, rescind any acceleration of the Notes and its consequences if
(i) such rescission would not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default (except the non-payment of principal of, or interest
on, the Notes that has become due solely because of such acceleration) have been cured or waived. No such rescission will affect any subsequent Default or impair any right consequent thereto. 

Section 7.03.  SOLE REMEDY FOR A FAILURE TO
REPORT. 
 (A)      Generally. Notwithstanding anything to the
contrary in this Indenture or the Notes, the Company may elect that the sole remedy for any Event of Default (a “Reporting Event of Default”) pursuant to Section 7.01(A)(vi) arising from the Company’s
failure to comply with Section 3.02 will, for each of the first three hundred and sixty (360) calendar days on which a Reporting Event of Default has occurred and is continuing, consist exclusively of the accrual of
Special Interest on the Notes. If the Company has made such an election, then (i) the Notes will be subject to acceleration pursuant to Section 7.02 on account of the relevant Reporting Event of Default from, and
including, the three hundred and sixty first (361st) calendar day on which a Reporting Event of Default has occurred and is continuing or if the Company fails to pay any accrued and unpaid Special Interest when due; and (ii) Special Interest
will cease to accrue on any Notes from, and including, the earlier of (x) the date such Reporting Event of Default is cured or waived; and (y) such three hundred and sixty first (361st) calendar day (it being understood that interest on
any defaulted Special Interest will nonetheless accrue 

  
 - 64 - 

 
pursuant to Section 2.05(B)). 

(B)      Amount and Payment of Special Interest. Any Special Interest that accrues on a
Note pursuant to Section 7.03(A) will be payable on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal
amount thereof for the first one hundred and eighty (180) days on which Special Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof from the one hundred eighty first
(181st) day to, and including, the three hundred sixtieth (360th) day on which Special Interest accrues; provided, however, that in no event will Special Interest, together with any Additional Interest, accrue on any day on a Note at a
combined rate per annum that exceeds one half of one percent (0.50%), regardless of the number of events or circumstances giving rise to the accrual of Special Interest or Additional Interest. For the avoidance of doubt, any Special Interest that
accrues on a Note will be in addition to the Stated Interest that accrues on such Note and, subject to the proviso of the immediately preceding sentence, in addition to any Additional Interest that accrues on such Note. 

(C)      Notice of Election. To make the election set forth in
Section 7.03(A), the Company must send to the Holders, the Trustee and the Paying Agent, before the date on which each Reporting Event of Default first occurs, a notice that (i) briefly describes of the report(s) that
the Company failed to file with or furnish to the SEC; (ii) states that the Company is electing that the sole remedy for such Reporting Event of Default consist of the accrual of Special Interest; and (iii) briefly describes the periods
during which and rate at which Special Interest will accrue and the circumstances under which the Notes will be subject to acceleration on account of such Reporting Event of Default. 

(D)      No Effect on Other Events of Default. No election pursuant to this
Section 7.03 with respect to a Reporting Event of Default will affect the rights of any Holder with respect to any other Event of Default, including with respect to any other Reporting Event of Default. 

Section 7.04.  OTHER REMEDIES. 

(A)      Trustee May Pursue All Remedies. If an Event of Default occurs and is
continuing, then the Trustee may pursue any available remedy to collect the payment of any amounts due with respect to the Notes or to enforce the performance of any provision of this Indenture or the Notes. 

(B)      Procedural Matters. The Trustee may maintain a proceeding even if it does not
possess any of the Notes or does not produce any of them in such proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy following an Event of Default will not impair the right or remedy or constitute a waiver
of, or acquiescence in, such Event of Default. All remedies will be cumulative to the extent permitted by law. 

Section 7.05.  WAIVER OF PAST DEFAULTS. 

An Event of Default pursuant to clause (i), (ii), (iv) or (vi) of
Section 7.01(A) (that, in the case of clause (vi) only, results from a Default under any covenant that cannot be amended without the consent of each affected Holder), and a Default that could lead to such an
Event of 

  
 - 65 - 

 
Default, can be waived only with the consent of each affected Holder. Each other Default or Event of Default may be waived, on behalf of all Holders, by the Holders of a majority in aggregate
principal amount of the Notes then outstanding. If an Event of Default is so waived, then it will cease to exist. If a Default is so waived, then it will be deemed to be cured and any Event of Default arising therefrom will be deemed not to occur.
However, no such waiver will extend to any subsequent or other Default or Event of Default or impair any right arising therefrom. 

Section 7.06.  CONTROL BY MAJORITY. 

Holders of a majority in aggregate principal amount of the Notes then outstanding may direct the time, method and place of
conducting any proceeding for exercising any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to follow any direction that conflicts with law, this Indenture or the Notes, or that,
subject to Section 10.01, the Trustee determines may be unduly prejudicial to the rights of other Holders or may involve the Trustee in liability, unless the Trustee is offered security and indemnity satisfactory to the
Trustee against any loss, liability or expense to the Trustee that may result from the Trustee’s following such direction. 

Section 7.07.  LIMITATION ON SUITS. 

No Holder may pursue any remedy with respect to this Indenture or the Notes (except to enforce (x) its rights to receive
the principal of, or the Redemption Price or Fundamental Change Repurchase Price for, or interest on, any Notes; or (y) the Company’s obligations to convert any Notes pursuant to Article 5), unless: 

(A)        such Holder has previously delivered to the Trustee notice that an Event of
Default is continuing; 
 (B)        Holders of at least twenty five percent (25%)
in aggregate principal amount of the Notes then outstanding deliver a written request to the Trustee to pursue such remedy; 

(C)        such Holder or Holders offer and, if requested, provide to the Trustee
security and indemnity satisfactory to the Trustee against any loss, liability or expense to the Trustee that may result from the Trustee’s following such request; 

(D)        the Trustee does not comply with such request within sixty
(60) calendar days after its receipt of such request and such offer of security or indemnity; and 

(E)        during such sixty (60) calendar day period, Holders of a majority in
aggregate principal amount of the Notes then outstanding do not deliver to the Trustee a direction that is inconsistent with such request. 

A Holder of a Note may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority
over another Holder. The Trustee will have no duty to determine whether any Holder’s use of this Indenture complies with the preceding sentence. 

  
 - 66 - 

 Section 7.08.  ABSOLUTE RIGHT OF
HOLDERS TO INSTITUTE SUIT FOR THE ENFORCEMENT OF THE RIGHT TO RECEIVE
PAYMENT AND CONVERSION CONSIDERATION. 
 Notwithstanding
anything to the contrary in this Indenture or the Notes, but without limiting Section 8.01, the right of each Holder of a Note to bring suit for the enforcement of any payment or delivery, as applicable, of the principal
of, or the Redemption Price or Fundamental Change Repurchase Price for, or any interest on, or the Conversion Consideration due pursuant to Article 5 upon conversion of, such Note on or after the respective due dates therefor provided in this
Indenture and the Notes, will not be impaired or affected without the consent of such Holder. 
 Section 7.09.  COLLECTION
SUIT BY TRUSTEE. 
 The Trustee will have the right, upon the occurrence
and continuance of an Event of Default pursuant to clause (i), (ii) or (iv) of Section 7.01(A), to recover judgment in its own name and as trustee of an express trust against the Company for
the total unpaid or undelivered principal of, or Redemption Price or Fundamental Change Repurchase Price for, or interest on, or Conversion Consideration due pursuant to Article 5 upon conversion of, the Notes, as applicable, and, to the
extent lawful, any Default Interest on any Defaulted Amounts, and such further amounts sufficient to cover the costs and expenses of collection, including all amounts owed to it under Section 10.06. 

Section 7.10.  TRUSTEE MAY FILE PROOFS OF CLAIM.

 The Trustee has the right to (A) file such proofs of claim and other papers or documents as may be necessary or
advisable in order to have the claims of the Trustee and the Holders allowed in any judicial proceedings relative to the Company (or any other obligor upon the Notes) or its creditors or property and (B) collect, receive and distribute any
money or other property payable or deliverable on any such claims. Each Holder authorizes any custodian in such proceeding to make such payments to the Trustee, and, if the Trustee consents to the making of such payments directly to the Holders, to
pay to the Trustee any amount due to the Trustee for the reasonable compensation, expenses, disbursements and advances of the Trustee, and its agents and counsel, and any other amounts payable to the Trustee pursuant to
Section 10.06. To the extent that the payment of any such compensation, expenses, disbursements, advances and other amounts out of the estate in such proceeding, is denied for any reason, payment of the same will be secured
by a lien on, and will be paid out of, any and all distributions, dividends, money, securities and other properties that the Holders may be entitled to receive in such proceeding (whether in liquidation or under any plan of reorganization or
arrangement or otherwise). Nothing in this Indenture will be deemed to authorize the Trustee to authorize, consent to, accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or
the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

  
 - 67 - 

 Section 7.11.  PRIORITIES. 

The Trustee will pay or deliver in the following order any money or other property that it collects pursuant to this
Article 7: 
 First:        to the Trustee and any
Note Agent and their respective agents and attorneys for amounts due hereunder, including payment of all fees, compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 

Second:        to Holders for unpaid amounts or other property
due on the Notes, including the principal of, or the Redemption Price or Fundamental Change Repurchase Price for, or any interest on, or any Conversion Consideration due upon conversion of, the Notes, ratably, and without preference or priority of
any kind, according to such amounts or other property due and payable on all of the Notes; and 

Third:        to the Company or such other Person as a court of
competent jurisdiction directs. 
 The Trustee may fix a record date and payment date for any payment or delivery to the
Holders pursuant to this Section 7.11, in which case the Trustee will instruct the Company to, and the Company will, deliver, at least fifteen (15) calendar days before such record date, to each Holder and the Trustee
a notice stating such record date, such payment date and the amount of such payment or nature of such delivery, as applicable. 

Section 7.12.  UNDERTAKING FOR COSTS. 

In any suit for the enforcement of any right or remedy under this Indenture or the Notes or in any suit against the Trustee
for any action taken or omitted by it as Trustee, a court, in its discretion, may (A) require the filing by any litigant party in such suit of an undertaking to pay the costs of such suit, and (B) assess reasonable costs (including
reasonable attorneys’ fees) against any litigant party in such suit, having due regard to the merits and good faith of the claims or defenses made by such litigant party; provided, however, that this
Section 7.12 does not apply to any suit by the Trustee, any suit by a Holder pursuant to Section 7.08 or any suit by one or more Holders of more than ten percent (10%) in aggregate principal amount
of the Notes then outstanding. 
 Article 8.    AMENDMENTS, SUPPLEMENTS AND WAIVERS 

Section 8.01.  WITHOUT THE CONSENT OF HOLDERS. 

Notwithstanding anything to the contrary in Section 8.02, the Company and the Trustee may amend or
supplement this Indenture or the Notes without the consent of any Holder to: 

(A)        cure any ambiguity or correct any omission, defect or inconsistency in this
Indenture or the Notes; 

  
 - 68 - 

 (B)      add guarantees with respect to the
Company’s obligations under this Indenture or the Notes; 
 (C)      secure the Notes;

 (D)      add to the Company’s covenants or Events of Default for the benefit of the
Holders or surrender any right or power conferred on the Company; 
 (E)      provide for the
assumption of the Company’s obligations under this Indenture and the Notes pursuant to, and in compliance with, Article 6; 

(F)      enter into supplemental indentures pursuant to, and in accordance with,
Section 5.09 in connection with a Common Stock Change Event; 

(G)     irrevocably elect or eliminate any Settlement Method or Specified Dollar Amount;
provided, however, that no such election or elimination will affect any settlement method theretofore elected (or deemed to be elected) with respect to any Note pursuant to Section 5.03(A); 

(H)     evidence or provide for the acceptance of the appointment, under this Indenture, of a
successor Trustee, Registrar, Paying Agent, Bid Solicitation Agent or Conversion Agent or facilitate the administration of the trusts under this Indenture by more than one trustee; 

(I)      conform the provisions of this Indenture and the Notes to the “Description of
Notes” section of the Company’s Preliminary Offering Memorandum, dated February 13, 2019, as supplemented by the related Pricing Term Sheet, dated February 13, 2019; 

(J)      provide for or confirm the issuance of additional Notes pursuant to
Section 2.03(B); 
 (K)     increase the Conversion Rate as provided in
this Indenture; 
 (L)     comply with any requirement of the SEC in connection with any
qualification of this Indenture or any supplemental indenture under the Trust Indenture Act, as then in effect; 

(M)     comply with the rules of Depositary for the Notes in a manner that does not adversely affect
the rights of any Holder; or 
 (N)     make any other change to this Indenture or the Notes that
does not, individually or in the aggregate with all other such changes, adversely affect the rights of the Holders, as such, in any material respect. 

Section 8.02.  WITH THE CONSENT OF HOLDERS. 

(A)     Generally. Subject to Sections 8.01, 7.05 and 7.08 and the
immediately following sentence, the Company and the Trustee may, with the consent of the Holders of a majority in aggregate principal amount of the Notes then outstanding, amend or supplement this Indenture or the Notes or waive compliance with any
provision of this Indenture or the Notes. 

  
 - 69 - 

 
Notwithstanding anything to the contrary in the foregoing sentence, without the consent of each affected Holder, no amendment or supplement to this Indenture or the Notes, or waiver of any
provision of this Indenture or the Notes, may: 
 (i)      reduce the
principal, or extend the stated maturity, of any Note; 
 (ii)     reduce the
Redemption Price or Fundamental Change Repurchase Price for any Note or change the times at which, or the circumstances under which, the Notes may or will be redeemed or repurchased by the Company; 

(iii)     reduce the rate, or extend the time for the payment, of interest on any
Note; 
 (iv)     make any change that adversely affects the conversion rights of
any Note; 
 (v)      impair the absolute rights of any Holder set forth in
Section 7.08 (as such section is in effect on the Issue Date); 

(vi)     change the ranking of the Notes; 

(vii)    make any note payable in money, or at a place of payment, other than that stated
in this Indenture or the Note; 
 (viii)   reduce the amount of Notes whose Holders must
consent to any amendment, supplement, waiver or other modification; or 

(ix)     make any direct or indirect change to any amendment, supplement, waiver or
modification provision of this Indenture or the Notes that requires the consent of each affected Holder. 
 For the
avoidance of doubt, pursuant to clauses (i), (ii), (iii) and (iv) of this Section 8.02(A), no amendment or supplement to this Indenture or the Notes, or waiver of any provision of
this Indenture or the Notes, may change the amount or type of consideration due on any Note (whether on an Interest Payment Date, Redemption Date, Fundamental Change Repurchase Date or the Maturity Date or upon conversion, or otherwise), or the
date(s) or time(s) such consideration is payable or deliverable, as applicable, without the consent of each affected Holder. 

(B)        Holders Need Not Approve the Particular Form of any Amendment. A
consent of any Holder pursuant to this Section 8.02 need approve only the substance, and not necessarily the particular form, of the proposed amendment, supplement or waiver. 

Section 8.03.  NOTICE OF AMENDMENTS, SUPPLEMENTS AND
WAIVERS. 
 Promptly after any amendment, supplement or waiver pursuant to
Section 8.01 or 8.02 becomes effective, the Company will (or, in the case of an amendment or supplement pursuant to Section 8.01(I), the Company may, at its election) send to the Holders and the
Trustee notice that (A) describes the substance of such amendment, supplement or waiver in reasonable detail 

  
 - 70 - 

 
and (B) states the effective date thereof. The failure to send, or the existence of any defect in, such notice will not impair or affect the validity of such amendment, supplement or waiver.

 Section 8.04.  REVOCATION, EFFECT AND SOLICITATION OF
CONSENTS; SPECIAL RECORD DATES; ETC. 

(A)      Revocation and Effect of Consents. The consent of a Holder of a Note to an
amendment, supplement or waiver will bind (and constitute the consent of) each subsequent Holder of any Note to the extent the same evidences any portion of the same indebtedness as the consenting Holder’s Note, subject to the right of any
Holder of a Note to revoke (if not prohibited pursuant to Section 8.04(B)) any such consent with respect to such Note by delivering notice of revocation to the Trustee before the time such amendment, supplement or waiver
becomes effective. 
 (B)      Special Record Dates. The Company may, but is not
required to, fix a record date for the purpose of determining the Holders entitled to consent or take any other action in connection with any amendment, supplement or waiver pursuant to this Article 8. If a record date is fixed, then,
notwithstanding anything to the contrary in Section 8.04(A), only Persons who are Holders as of such record date (or their duly designated proxies) will be entitled to give such consent, to revoke any consent previously
given or to take any such action, regardless of whether such Persons continue to be Holders after such record date; provided, however, that no such consent will be valid or effective for more than one hundred and twenty
(120) calendar days after such record date. 
 (C)      Solicitation of Consents.
For the avoidance of doubt, each reference in this Indenture or the Notes to the consent of a Holder will be deemed to include any such consent obtained in connection with a repurchase of, or tender or exchange offer for, any Notes. 

(D)      Effectiveness and Binding Effect. Each amendment, supplement or waiver pursuant
to this Article 8 will become effective in accordance with its terms and, when it becomes effective with respect to any Note (or any portion thereof), will thereafter bind every Holder of such Note (or such portion). 

Section 8.05.  NOTATIONS AND EXCHANGES. 

If any amendment, supplement or waiver changes the terms of a Note, then the Trustee or the Company may, in its discretion,
require the Holder of such Note to deliver such Note to the Trustee so that the Trustee may place an appropriate notation prepared by the Company on such Note and return such Note to such Holder. Alternatively, at its discretion, the Company may, in
exchange for such Note, issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, a new Note that reflects the changed terms. The failure to make any appropriate notation
or issue a new Note pursuant to this Section 8.05 will not impair or affect the validity of such amendment, supplement or waiver. 

Section 8.06.  TRUSTEE TO EXECUTE SUPPLEMENTAL INDENTURES.

 The Trustee will execute and deliver any amendment or supplemental indenture

  
 - 71 - 

 
authorized pursuant to this Article 8; provided, however, that the Trustee need not (but may, in its sole and absolute discretion) execute or deliver any such amendment or
supplemental indenture that adversely affects the Trustee’s rights, duties, liabilities or immunities. In executing any amendment or supplemental indenture, the Trustee will be entitled to receive, and (subject to Sections 10.01
and 10.02) will be fully protected in relying on, an Officer’s Certificate and an Opinion of Counsel stating that (A) the execution and delivery of such amendment or supplemental indenture is authorized or permitted by this
Indenture; and (B) in the case of the Opinion of Counsel, such amendment or supplemental indenture is valid, binding and enforceable against the Company in accordance with its terms. 

Article 9.    SATISFACTION AND DISCHARGE 

Section 9.01.    TERMINATION OF COMPANY’S
OBLIGATIONS. 
 This Indenture will be discharged, and will cease to be of further effect as to all Notes
issued under this Indenture, when: 
 (A)        all Notes then outstanding (other
than Notes replaced pursuant to Section 2.13) have (A) been delivered to the Trustee for cancellation; or (B) become due and payable (whether on a Redemption Date, a Fundamental Change Repurchase Date, the
Maturity Date, upon conversion or otherwise) for an amount of cash or Conversion Consideration, as applicable, that has been fixed; 

(B)        the Company has caused there to be irrevocably deposited with the Trustee,
or with the Paying Agent (or, with respect to Conversion Consideration, the Conversion Agent), in each case for the benefit of the Holders, or has otherwise caused there to be delivered to the Holders, cash (or, with respect to Notes to be
converted, Conversion Consideration) sufficient to satisfy all amounts or other property due on all Notes then outstanding (other than Notes replaced pursuant to Section 2.13); 

(C)        the Company has paid all other amounts payable by it under this Indenture;
and 
 provided, however, that Article 10 and Section 11.01 will survive such discharge and,
until no Notes remain outstanding, Section 2.15 and the obligations of the Trustee, the Paying Agent and the Conversion Agent with respect to money or other property deposited with them will survive such discharge. 

At the Company’s request, upon the Company’s delivery to the Trustee of an Officer’s Certificate and an Opinion
of Counsel, each stating that the conditions precedent to the discharge of this Indenture have been satisfied, the Trustee will acknowledge the satisfaction and discharge of this Indenture. 

Section 9.02.    REPAYMENT TO COMPANY. 

Subject to applicable unclaimed property law, the Trustee, the Paying Agent and the Conversion Agent will promptly notify the
Company if there exists (and, at the Company’s request, promptly deliver to the Company) any cash, Conversion Consideration or other property 

  
 - 72 - 

 
held by any of them for payment or delivery on the Notes that remain unclaimed two (2) years after the date on which such payment or delivery was due. After such delivery to the Company, the
Trustee, the Paying Agent and the Conversion Agent will have no further liability to any Holder with respect to such cash, Conversion Consideration or other property, and Holders entitled to the payment or delivery of such cash, Conversion
Consideration or other property must look to the Company for payment as a general creditor of the Company. 

Section 9.03.    REINSTATEMENT. 

If the Trustee, the Paying Agent or the Conversion Agent is unable to apply any cash or other property deposited with it
pursuant to Section 9.01 because of any legal proceeding or any order or judgment of any court or other governmental authority that enjoins, restrains or otherwise prohibits such application, then the discharge of this
Indenture pursuant to Section 9.01 will be rescinded; provided, however, that if the Company thereafter pays or delivers any cash or other property due on the Notes to the Holders thereof, then the Company
will be subrogated to the rights of such Holders to receive such cash or other property from the cash or other property, if any, held by the Trustee, the Paying Agent or the Conversion Agent, as applicable. 

Article 10.    TRUSTEE 

Section 10.01. DUTIES OF THE TRUSTEE. 

(A)        If an Event of Default has occurred and is continuing, the Trustee will
exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs.

 (B)        Except during the continuance of an Event of Default: 

(i)      the duties of the Trustee will be determined solely by the express
provisions of this Indenture, and the Trustee need perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations will be read into this Indenture against the Trustee; and 

(ii)      in the absence of bad faith or willful misconduct on its part, the
Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon Officer’s Certificates or Opinions of Counsel that are provided to the Trustee and conform to the requirements of this
Indenture. However, in the case of any such Officer’s Certificates or Opinions of Counsel that, by any provision under this Indenture, are specifically required to be furnished to the Trustee, the Trustee will examine the certificates and
opinions to determine whether or not they conform to the requirements of this Indenture. 

(C)        The Trustee may not be relieved from liabilities for its negligence or
willful misconduct, except that: 
 (i)      this paragraph will not limit the
effect of Section 10.01(B); 

  
 - 73 - 

 (ii)      the Trustee will not
be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 

(iii)      the Trustee will not be liable with respect to any action it takes or
omits to take in good faith in accordance with a direction received by it pursuant to Section 7.06. 

(D)        Each provision of this Indenture that in any way relates to the Trustee is
subject to paragraphs (A), (B) and (C) of this Section 10.01, regardless of whether such provision so expressly provides. 

(E)        No provision of this Indenture will require the Trustee to expend or risk
its own funds or incur any liability. 
 (F)        The Trustee will not be liable
for interest on any money received by it, except as the Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be segregated from other funds, except to the extent required by law. 

Section 10.02. RIGHTS OF THE TRUSTEE. 

(A)        The Trustee may conclusively rely on any document that is believes to be
genuine and signed or presented by the proper Person, and the Trustee need not investigate any fact or matter stated in such document; provided, however, that the Trustee may make such further inquiry or investigation into such fact or
matter, and, if the Trustee will determine to make such further inquiry or investigation, it will be entitled to examine the books, records and premises of the Company, as the sole cost of the Company. 

(B)        Before the Trustee acts or refrains from acting, it may require an
Officer’s Certificate, an Opinion of Counsel or both. The Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel. The Trustee may consult with
counsel; and the written advice of such counsel, or any Opinion of Counsel, will constitute full and complete authorization of the Trustee to take or omit to take any action in good faith in reliance thereon without liability. 

(C)        The Trustee may act through its attorneys and agents and will not be
responsible for the misconduct or negligence of any such agent appointed with due care. 

(D)        The Trustee will not be liable for any action it takes or omits to take in
good faith and that it believes to be authorized or within the rights or powers vested in it by this Indenture. 

(E)        Unless otherwise specifically provided in this Indenture, any demand,
request, direction or notice from the Company will be sufficient if signed by an Officer of the Company. 

(F)        The Trustee need not exercise any rights or powers vested in it by this
Indenture at the request or direction of any Holder unless such Holder has offered the Trustee security or indemnity satisfactory to the Trustee against any loss, liability or expense that it may incur in complying with such request or direction.

  
 - 74 - 

 (G)        In no event will the
Trustee be responsible or liable for special, indirect, punitive or consequential loss or damage of any kind whatsoever (including loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and
regardless of the form of action. 
 (H)        The rights, privileges, protections,
immunities and benefits given to the Trustee, including its right to be indemnified, are extended to, and will be enforceable by, the Trustee in each of its capacities under this Indenture. 

(I)        The Trustee will not be required to give any bond or surety in respect of
the performance of its powers and duties hereunder. 
 (J)        The permissive
rights of the Trustee hereunder (in any of its capacities hereunder) will not be construed as a duty. 

(K)        Unless otherwise expressly provided herein, any direction, notice,
certificate, certification, instruction, agreement, order, evidence, notification, request, withdrawal of a request, or other communication to or for the Trustee (in any of its capacities hereunder) will be made in writing. 

Section 10.03. INDIVIDUAL RIGHTS OF THE TRUSTEE. 

The Trustee, in its individual or any other capacity, may become the owner or pledgee of any Note and may otherwise deal with
the Company or any of its Affiliates with the same rights that it would have if it were not Trustee; provided, however, that if the Trustee acquires a “conflicting interest” (within the meaning of Section 310(b) of the
Trust Indenture Act), then it must eliminate such conflict within ninety (90) days or resign as Trustee. Each Note Agent will have that same rights and duties as the trustee under this Section 10.03. 

Section 10.04. TRUSTEE’S DISCLAIMER. 

The Trustee will not be (A) responsible for, and makes no representation as to, the validity or adequacy of this
Indenture or the Notes; (B) accountable for the Company’s use of the proceeds from the Notes or any money paid to the Company or upon the Company’s direction under any provision of this Indenture; (C) responsible for the use or
application of any money received by any Paying Agent other than the Trustee; and (D) responsible for any statement or recital in this Indenture, the Notes or any other document relating to the sale of the Notes or this Indenture, other than
the Trustee’s certificate of authentication. 
 Section 10.05. NOTICE OF DEFAULTS. 

If a Default or Event of Default occurs and is continuing and is known to a Responsible Officer of the Trustee, then the
Trustee will send Holders a notice of such Default or Event of Default within ninety (90) days after it occurs or, if it is not known to a Responsible Officer of the Trustee at such time, promptly (and in any event within ten (10) Business
Days) after it becomes known to a Responsible Officer; provided, however, that, except in the case of a Default or Event of Default in the payment of the principal of, or interest on, any Note, the Trustee may withhold such notice if
and for so long as it in good faith determines that 

  
 - 75 - 

 
withholding such notice is in the interests of the Holders. 
 Section 10.06.
COMPENSATION AND INDEMNITY. 

(A)        The Company will, from time to time, pay the Trustee such compensation for
its acceptance of this Indenture and services under this Indenture as agreed to with the Trustee from time to time. The Trustee’s compensation will not be limited by any law on compensation of a trustee of an express trust. In addition to the
compensation for the Trustee’s services, the Company will reimburse the Trustee promptly upon request for all reasonable disbursements, advances and expenses incurred or made by it under this Indenture, including the reasonable compensation,
disbursements and expenses of the Trustee’s agents and counsel. 

(B)        The Company will indemnify the Trustee against any and all losses,
liabilities or expenses incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture, including the costs and expenses of enforcing this Indenture against the Company (including this
Section 10.06) and defending itself against any claim (whether asserted by the Company, any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties under this
Indenture, except to the extent any such loss, liability or expense may be attributable to its negligence or willful misconduct. The Trustee will promptly notify the Company of any claim for which it may seek indemnity, but the Trustee’s
failure to so notify the Company will not relieve the Company of its obligations under this Section 10.06(B). The Company will defend such claim, and the Trustee will cooperate in such defense. If the Trustee is advised by
counsel that it may have defenses available to it that are in conflict with the defenses available to the Company, or that there is an actual or potential conflict of interest, then the Trustee may retain separate counsel, and the Company will pay
the reasonable fees and expenses of such counsel (including the reasonable fees and expenses of counsel to the Trustee incurred in evaluating whether such a conflict exists). The Company need not pay for any settlement of any such claim made without
its consent, which consent will not be unreasonably withheld. 
 (C)        The
obligations of the Company under this Section 10.06 will survive the resignation or removal of the Trustee and the discharge of this Indenture. 

(D)        To secure the Company’s payment obligations in this
Section 10.06, the Trustee will have a lien prior to the Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal of, or interest on, particular Notes, which lien will
survive the discharge of this Indenture, and for the avoidance of doubt, such lien will not be extended in a manner that would conflict with the Company’s obligations to its other creditors. 

(E)        If the Trustee incurs expenses or renders services after an Event of
Default pursuant to clause (ix) or (x) of Section 7.01(A) occurs, then such expenses and the compensation for such services (including the fees and expenses of its agents and counsel) are intended
to constitute expenses of administration under any Bankruptcy Law. 
 Section 10.07. REPLACEMENT OF THE
TRUSTEE. 
 (A)        Notwithstanding anything to the contrary
in this Section 10.07, a resignation or 

  
 - 76 - 

 
removal of the Trustee, and the appointment of a successor Trustee, will become effective only upon such successor Trustee’s acceptance of appointment as provided in this
Section 10.07. 
 (B)        The Trustee may resign at any
time and be discharged from the trust created by this Indenture by so notifying the Company. The Holders of a majority in aggregate principal amount of the Notes then outstanding may remove the Trustee by so notifying the Trustee and the Company in
writing. The Company may remove the Trustee if: 
 (i)      the Trustee fails
to comply with Section 10.09; 
 (ii)      the
Trustee is adjudged to be bankrupt or insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; 

(iii)    a custodian or public officer takes charge of the Trustee or its property; or

 (iv)    the Trustee becomes incapable of acting. 

(C)        If the Trustee resigns or is removed, or if a vacancy exists in the office
of Trustee for any reason, then (i) the Company will promptly appoint a successor Trustee; and (ii) at any time within one (1) year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of
the Notes then outstanding may appoint a successor Trustee to replace such successor Trustee appointed by the Company. 

(D)        If a successor Trustee does not take office within thirty (30) days
after the retiring Trustee resigns or is removed, then the retiring Trustee, the Company or the Holders of at least ten percent (10%) in aggregate principal amount of the Notes then outstanding may petition any court of competent jurisdiction for
the appointment of a successor Trustee. 
 (E)        If the Trustee, after written
request by a Holder of at least six (6) months, fails to comply with Section 10.09, then such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor
Trustee. 
 (F)        A successor Trustee will deliver a written acceptance of its
appointment to the retiring Trustee and to the Company, upon which notice the resignation or removal of the retiring Trustee will become effective and the successor Trustee will have all the rights, powers and duties of the Trustee under this
Indenture. The successor Trustee will send notice of its succession to Holders. The retiring Trustee will, upon payment of all amounts due to it under this Indenture, promptly transfer all property held by it as Trustee to the successor Trustee,
which property will, for the avoidance of doubt, be subject to the lien provided for in Section 10.06(D). 

Section 10.08. SUCCESSOR TRUSTEE BY MERGER, ETC. 

If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business
to, another corporation, then such corporation will become the successor Trustee without any further act. 

  
 - 77 - 

 Section 10.09. ELIGIBILITY; DISQUALIFICATION. 

There will at all times be a Trustee under this Indenture that is a corporation organized and doing business under the laws of
the United States of America or of any state thereof, that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a combined capital and surplus
of at least $100.0 million as set forth in its most recent published annual report of condition. 
 Article
11.    MISCELLANEOUS 
 Section 11.01. NOTICES. 

Any notice or communication by the Company or the Trustee to the other will be deemed to have been duly given if in writing
and delivered in person or by first class mail (registered or certified, return receipt requested), facsimile transmission, electronic transmission or other similar means of unsecured electronic communication or overnight air courier guaranteeing
next day delivery, or to the other’s address, which initially is as follows: 
 If to the Company: 

Inovio Pharmaceuticals, Inc. 

660 W. Germantown Pike, Suite 110 

Plymouth Meeting, Pennsylvania 19462 

Attention: Legal Department 

Facsimile: 261-440-4242 

Telephone: 267-440-4200 

If to the Trustee: 

U.S. Bank National Association 

60 Livingston Avenue 

St. Paul, MN 55107 

Facsimile: 651-466-7429 

Attention: Administrator for Inovio Pharmaceuticals, Inc. 

The Company or the Trustee, by notice to the other, may designate additional or different addresses (including facsimile
numbers and electronic addresses) for subsequent notices or communications. 
 All notices and communications (other than
those sent to Holders) will be deemed to have been duly given: (A) at the time delivered by hand, if personally delivered; (B) five (5) Business Days after being deposited in the mail, postage prepaid, if mailed; (C) when receipt
acknowledged, if transmitted by facsimile, electronic transmission or other similar means of unsecured electronic communication; and (D) the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing
next day delivery. 
 All notices or communications required to be made to a Holder pursuant to this Indenture

  
 - 78 - 

 
must be made in writing and will be deemed to be duly sent or given in writing if mailed by first class mail, certified or registered, return receipt requested, or by overnight air courier
guaranteeing next day delivery, to its address shown on the Register; provided, however, that a notice or communication to a Holder of a Global Note may, but need not, instead be sent pursuant to the Depositary Procedures (in which
case, such notice will be deemed to be duly sent or given in writing). The failure to send a notice or communication to a Holder, or any defect in such notice or communication, will not affect its sufficiency with respect to any other Holder. 

If a notice or communication is mailed or sent in the manner provided above within the time prescribed, it will be deemed to
have been duly given, whether or not the addressee receives it. 
 Notwithstanding anything to the contrary in this
Indenture or the Notes, whenever any provision of this Indenture requires a party to send notice to another party, no such notice need be sent if the sending party and the recipient are the same Person acting in different capacities. 

Section 11.02. DELIVERY OF OFFICER’S CERTIFICATE AND
OPINION OF COUNSEL AS TO CONDITIONS PRECEDENT. 

Upon any request or application by the Company to the Trustee to take any action under this Indenture (other than the initial
authentication of Notes under this Indenture), the Company will furnish to the Trustee: 

(A)        an Officer’s Certificate in form and substance reasonably satisfactory
to the Trustee that complies with Section 11.03 and states that, in the opinion of the signatory thereto, all conditions precedent and covenants, if any, provided for in this Indenture relating to such action have been
satisfied; and 
 (B)        an Opinion of Counsel in form and substance reasonably
satisfactory to the Trustee that complies with Section 11.03 and states that, in the opinion of such counsel, all such conditions precedent and covenants, if any, have been satisfied; provided, however, that
no Opinion of Counsel will be required to be delivered in connection with (x) the original issuance of Notes on the Issue Date; (y) the mandatory exchange of the restricted Notes to an unrestricted CUSIP number pursuant to the Depositary
Procedures upon becoming Freely Tradable and (z) a Redemption pursuant to Section 4.03. 
 Section 11.03.
STATEMENTS REQUIRED IN OFFICER’S CERTIFICATE AND OPINION OF COUNSEL. 

Each Officer’s Certificate (other than an Officer’s Certificate pursuant to Section 3.05)
or Opinion of Counsel with respect to compliance with a covenant or condition provided for in this Indenture will include: 

(A)        a statement that the signatory thereto has read such covenant or condition;

 (B)        a brief statement as to the nature and scope of the examination or
investigation upon which the statements or opinions contained therein are based; 

(C)        a statement that, in the opinion of such signatory, he, she or it has made
such 

  
 - 79 - 

 
examination or investigation as is necessary to enable him, her or it to express an informed opinion as to whether or not such covenant or condition has been satisfied; and 

(D)        a statement as to whether, in the opinion of such signatory, such covenant
or condition has been satisfied. 
 Section 11.04. RULES BY THE TRUSTEE,
THE REGISTRAR AND THE PAYING AGENT. 

The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make
reasonable rules and set reasonable requirements for its functions. 
 Section 11.05. NO PERSONAL
LIABILITY OF DIRECTORS, OFFICERS, EMPLOYEES AND STOCKHOLDERS. 

No past, present or future director, officer, employee, incorporator or stockholder of the Company, as such, will have any
liability for any obligations of the Company under this Indenture or the Notes or for any claim based on, in respect of, or by reason of, such obligations or their creation. By accepting any Note, each Holder waives and releases all such liability.
Such waiver and release are part of the consideration for the issuance of the Notes. 
 Section 11.06. GOVERNING LAW;
WAIVER OF JURY TRIAL. 
 THIS INDENTURE AND THE NOTES, AND
ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS INDENTURE OR THE NOTES, WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. EACH OF THE COMPANY AND THE TRUSTEE IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED BY THIS INDENTURE OR THE NOTES. 

Section 11.07. SUBMISSION TO JURISDICTION. 

Any legal suit, action or proceeding arising out of or based upon this Indenture or the transactions contemplated by this
Indenture may be instituted in the federal courts of the United States of America located in the City of New York or the courts of the State of New York, in each case located in the City of New York (collectively, the “Specified
Courts”), and each party irrevocably submits to the non-exclusive jurisdiction of such courts in any such suit, action or proceeding. Service of any process, summons, notice or document by mail (to
the extent allowed under any applicable statute or rule of court) to such party’s address set forth in Section 11.01 will be effective service of process for any such suit, action or proceeding brought in any such
court. Each of the Company, the Trustee and each Holder (by its acceptance of any Note) irrevocably and unconditionally waives any objection to the laying of venue of any suit, action or other proceeding in the Specified Courts and irrevocably and
unconditionally waives and agrees not to plead or claim any such suit, action or other proceeding has been brought in an inconvenient forum. 

  
 - 80 - 

 Section 11.08. NO ADVERSE INTERPRETATION
OF OTHER AGREEMENTS. 
 Neither this Indenture nor the Notes may be used to
interpret any other indenture, note, loan or debt agreement of the Company or its Subsidiaries or of any other Person, and no such indenture, note, loan or debt agreement may be used to interpret this Indenture or the Notes. 

Section 11.09. SUCCESSORS. 

All agreements of the Company in this Indenture and the Notes will bind its successors. All agreements of the Trustee in this
Indenture will bind its successors. 
 Section 11.10. FORCE MAJEURE. 

The Trustee and each Note Agent will not incur any liability for not performing any act or fulfilling any duty, obligation or
responsibility under this Indenture or the Notes by reason of any occurrence beyond its control (including any act or provision of any present or future law or regulation or governmental authority, act of God or war, civil unrest, local or national
disturbance or disaster, act of terrorism or unavailability of the Federal Reserve Bank wire or facsimile or other wire or communication facility). 

Section 11.11. U.S.A. PATRIOT ACT. 

The Company acknowledges that, in accordance with Section 326 of the U.S.A. Patriot Act, the Trustee, like all financial
institutions, in order to help fight the funding of terrorism and money laundering, is required to obtain, verify and record information that identifies each person or legal entity that establishes a relationship or opens an account with the
Trustee. The Company agrees to provide the Trustee with such information as it may request to enable the Trustee to comply with the U.S.A. Patriot Act. 

Section 11.12. CALCULATIONS. 

Except as otherwise provided in this Indenture, the Company will be responsible for making all calculations called for under
this Indenture or the Notes, including determinations of the Last Reported Sale Price, the Daily Cash Amount, the Daily Share Amount, accrued interest on the Notes and the Conversion Rate. 

The Company will make all calculations in good faith, and, absent manifest error, its calculations will be final and binding
on all Holders. The Company will provide a schedule of its calculations to the Trustee and the Conversion Agent, and each of the Trustee and the Conversion Agent may rely conclusively on the accuracy of the Company’s calculations without
independent verification. The Trustee will promptly forward a copy of each such schedule to a Holder upon its written request therefor. 

Section 11.13. SEVERABILITY. 

If any provision of this Indenture or the Notes is invalid, illegal or unenforceable, then

  
 - 81 - 

 
the validity, legality and enforceability of the remaining provisions of this Indenture or the Notes will not in any way be affected or impaired thereby. 

Section 11.14. COUNTERPARTS. 

The parties may sign any number of copies of this Indenture. Each signed copy will be an original, and all of them together
represent the same agreement. Delivery of an executed counterpart of this Indenture by facsimile, electronically in portable document format or in any other format will be effective as delivery of a manually executed counterpart. 

Section 11.15. TABLE OF CONTENTS, HEADINGS, ETC. 

The table of contents and the headings of the Articles and Sections of this Indenture have been inserted for convenience of
reference only, are not to be considered a part of this Indenture and will in no way modify or restrict any of the terms or provisions of this Indenture. 

Section 11.16. WITHHOLDING TAXES. 

Each Holder of a Note agrees, and each beneficial owner of an interest in a Global Note, by its acquisition of such interest,
is deemed to agree, that if the Company or other applicable withholding agent pays withholding taxes or backup withholding on behalf of such Holder or beneficial owner as a result of an adjustment to the Conversion Rate, then the Company or such
withholding agent, as applicable, may, at its option, set off such payments against payments of cash or the delivery of other Conversion Consideration on such Note, any payments on the Common Stock or sales proceeds received by, or other funds or
assets of, such Holder or the beneficial owner of such Note. 
 [The Remainder of This Page Intentionally Left Blank; Signature Page
Follows] 

  
 - 82 - 

 IN WITNESS WHEREOF, the parties to this Indenture have caused this
Indenture to be duly executed as of the date first written above. 
  

			
	INOVIO PHARMACEUTICALS, INC.

 
			
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to Indenture] 

 
			
	U.S. BANK NATIONAL ASSOCIATION

 
			
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to Indenture] 

 EXHIBIT A 

FORM OF NOTE 
 [Insert
Global Note Legend, if applicable] 
 [Insert Restricted Note Legend, if applicable] 

  
 A-1 

 INOVIO PHARMACEUTICALS, INC. 

6.50% Convertible Senior Notes due 2024 
  

			
	 CUSIP No.:    [___][Insert for a “restricted” CUISP number: *]
	  	Certificate No.    [___]

 ISIN No.:        [___][Insert for a “restricted” ISIN
number:*] 
 Inovio Pharmaceuticals, Inc., a Delaware corporation,
for value received, promises to pay to [Cede & Co.], or its registered assigns, the principal sum of [___] dollars ($[___]) [(as revised by the attached Schedule of Exchanges of Interests in the Global Note)]† on March 1, 2024 and to pay interest thereon, as provided in the Indenture referred to below, until the principal and all
accrued and unpaid interest are paid or duly provided for. 
 Interest Payment Dates:        
March 1 and September 1 of each year, commencing on [__]. 
 Regular Record Dates:
          February 15 and August 15. 
 Additional provisions of this Note are set forth on
the other side of this Note. 
 [The Remainder of This Page Intentionally Left Blank; Signature Page Follows] 

 
  
  

 
  

	* 	 This Note will be deemed to be identified by CUSIP No. [___] and ISIN No. [___] from and after such time
when the Company delivers, pursuant to Section 2.12 of the within-mentioned Indenture, written notice to the Trustee of the deemed removal of the Restricted Note Legend affixed to this Note. 

	†	 Insert bracketed language for Global Notes only. 

  
 A-2 

 IN WITNESS WHEREOF, Inovio Pharmaceuticals, Inc. has caused this
instrument to be duly executed as of the date set forth below. 
  

									
		 		 		 	INOVIO PHARMACEUTICALS, INC.
					
	Date:	 	  
	 		 	By:	 	  

		 		 		 		 	Name:
		 		 		 		 	Title:
	  
 TRUSTEE’S CERTIFICATE OF
AUTHENTICATION
  
 U.S. Bank National Association, as
Trustee, certifies that this is one of the Notes referred to in the within-mentioned Indenture.

					
	 Date:
	 	  
	 		 	By:	 	  

		 		 		 		 	Authorized Signatory

  
 A-3 

 INOVIO PHARMACEUTICALS, INC. 

6.50% Convertible Senior Notes due 2024 

This Note is one of a duly authorized issue of notes of Inovio Pharmaceuticals, Inc., a Delaware corporation (the
“Company”), designated as its 6.50% Convertible Senior Notes due 2024 (the “Notes”), all issued or to be issued pursuant to an indenture, dated as of February 19, 2019 (as the same may be amended from time to
time, the “Indenture”), between the Company and U.S. Bank National Association, as trustee. Capitalized terms used in this Note without definition have the respective meanings ascribed to them in the Indenture. 

The Indenture sets forth the rights and obligations of the Company, the Trustee and the Holders and the terms of the Notes.
Notwithstanding anything to the contrary in this Note, to the extent that any provision of this Note conflicts with the provisions of the Indenture, the provisions of the Indenture will control. 

1.        Interest. This Note will accrue interest at a rate and in the manner
set forth in Section 2.05 of the Indenture. Stated Interest on this Note will begin to accrue from, and including, [date]. 

2.        Maturity. This Note will mature on March 1, 2024, unless earlier
repurchased, redeemed or converted. 
 3.        Method of Payment. Cash
amounts due on this Note will be paid in the manner set forth in Section 2.04 of the Indenture. 

4.        Persons Deemed Owners. The Holder of this Note will be treated as the
owner of this Note for all purposes. 
 5.        Denominations; Transfers and
Exchanges. All Notes will be in registered form, without coupons, in principal amounts equal to any Authorized Denominations. Subject to the terms of the Indenture, the Holder of this Note may transfer or exchange this Note by presenting it to
the Registrar and delivering any required documentation or other materials. 

6.        Right of Holders to Require the Company to Repurchase Notes upon a
Fundamental Change. If a Fundamental Change occurs, then each Holder will have the right to require the Company to repurchase such Holder’s Notes (or any portion thereof in an Authorized Denomination) for cash in the manner, and subject to
the terms, set forth in Section 4.02 of the Indenture. 
 7.        Right of
the Company to Redeem the Notes. The Company will have the right to redeem the Notes for cash in the manner, and subject to the terms, set forth in Section 4.03 of the Indenture. 

8.        Conversion. The Holder of this Note may convert this Note into
Conversion Consideration in the manner, and subject to the terms, set forth in Article 5 of the Indenture. 

  
 A-4 

 9.        When the Company May
Merge, Etc. Article 6 of the Indenture places limited restrictions on the Company’s ability to be a party to a Business Combination Event. 

10.      Defaults and Remedies. If an Event of Default occurs, then the principal amount
of, and all accrued and unpaid interest on, all of the Notes then outstanding may (and, in certain circumstances, will automatically) become due and payable in the manner, and subject to the terms, set forth in Article 7 of the Indenture. 

11.      Amendments, Supplements and Waivers. The Company and the Trustee may amend or
supplement the Indenture or the Notes or waive compliance with any provision of the Indenture or the Notes in the manner, and subject to the terms, set forth in Article 8 of the Indenture. 

12.      No Personal Liability of Directors, Officers, Employees and Stockholders. No
past, present or future director, officer, employee, incorporator or stockholder of the Company, as such, will have any liability for any obligations of the Company under the Indenture or the Notes or for any claim based on, in respect of, or by
reason of, such obligations or their creation. By accepting any Note, each Holder waives and releases all such liability. Such waiver and release are part of the consideration for the issuance of the Notes. 

13.      Authentication. No Note will be valid until it is authenticated by the Trustee.
A Note will be deemed to be duly authenticated only when an authorized signatory of the Trustee (or a duly appointed authenticating agent) manually signs the certificate of authentication of such Note. 

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

15.      Governing Law. THIS NOTE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR
RELATED TO THIS NOTE, WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 * * * 

To request a copy of the Indenture, which the Company will provide to any Holder at no charge, please send a written request
to the following address: 
 Inovio Pharmaceuticals, Inc. 

660 W. Germantown Pike, Suite 110 

Plymouth Meeting, Pennsylvania 19462 

Attention: Legal Department 

  
 A-5 

 CONVERSION NOTICE 

INOVIO PHARMACEUTICALS, INC. 

6.50% Convertible Senior Notes due 2024 

Subject to the terms of the Indenture, by executing and delivering this Conversion Notice, the undersigned Holder of the Note identified below
directs the Company to convert (check one): 
  

	☐	 the entire principal amount of 

 

	☐	
$                     * aggregate principal amount of 

 the Note identified by CUSIP No.
                 and Certificate No.
                . 
 The
undersigned acknowledges that if the Conversion Date of a Note to be converted is after a Regular Record Date and before the next Interest Payment Date, then such Note, when surrendered for conversion, must, in certain circumstances, be accompanied
with an amount of cash equal to the interest that would have accrued on such Note to, but excluding, such Interest Payment Date. 
  

									
	 Date:
	 	  
	 		 	  

		 		 		 	(Legal Name of Holder)
					
		 		 		 	 By: 
	 	  

		 		 		 		 	 Name:

		 		 		 		 	 Title:

				
		 		 		 	 Signature Guaranteed:

				
		 		 		 	  

		 		 		 	 Participant in a Recognized Signature

Guarantee Medallion Program

					
		 		 		 	 By:
	 	  

		 		 		 		 	Authorized Signatory

  
  

	* 	 Must be an Authorized Denomination. 

  
 A-6 

 FUNDAMENTAL CHANGE REPURCHASE NOTICE 

INOVIO PHARMACEUTICALS, INC. 

6.50% Convertible Senior Notes due 2024 

Subject to the terms of the Indenture, by executing and delivering this Fundamental Change Repurchase Notice, the undersigned Holder of the
Note identified below is exercising its Fundamental Change Repurchase Right with respect to (check one): 
  

	☐	 the entire principal amount of 

 

	☐	
$                    * aggregate principal amount of 

 the Note identified by CUSIP No.
                     and Certificate No.
                    . 

The undersigned acknowledges that this Note, duly endorsed for transfer, must be delivered to the Paying Agent before the Fundamental Change
Repurchase Price will be paid. 
  

									
	 Date:
	 	  
	 		 	  

		 		 		 	(Legal Name of Holder)
					
		 		 		 	 By: 
	 	  

		 		 		 		 	 Name:

		 		 		 		 	 Title:

				
		 		 		 	 Signature Guaranteed:

				
		 		 		 	  

		 		 		 	 Participant in a Recognized Signature

Guarantee Medallion Program

					
		 		 		 	 By:
	 	  

		 		 		 		 	Authorized Signatory

  
  

	* 	 Must be an Authorized Denomination. 

  
 A-7 

 ASSIGNMENT FORM 

INOVIO PHARMACEUTICALS, INC. 

6.50% Convertible Senior Notes due 2024 

Subject to the terms of the Indenture, the undersigned Holder of the within Note assigns to: 

							
				
	 Name:
	 	         
	 	 	 	
                       
 

				
	 Address:
	 		 	 	 	
				
		 		 	 	 	
				
		 		 	 	 	
	 Social security or tax identification number:
	 		 	 	 	

 the within Note and all rights thereunder irrevocably appoints: 

_________________________________________________________ 

as agent to transfer the within Note on the books of the Company. The agent may substitute another to act for him/her. 

 

									
	 Date:
	 	  
	 		 	  

		 		 		 	(Legal Name of Holder)
					
		 		 		 	 By: 
	 	  

		 		 		 		 	 Name:

		 		 		 		 	 Title:

				
		 		 		 	 Signature Guaranteed:

				
		 		 		 	  

		 		 		 	 Participant in a Recognized Signature

Guarantee Medallion Program

					
		 		 		 	 By:
	 	  

		 		 		 		 	Authorized Signatory

  
 A-8 

 TRANSFEROR ACKNOWLEDGEMENT 

If the within Note bears a Restricted Note Legend, the undersigned further certifies that (check one): 

 

							
	 1.
	  	 ☐
	  	   
	  	 Such  Transfer is being made to the Company or a Subsidiary of the
Company.

				
	 2.
	  	 ☐
	  		  	 Such Transfer is being made pursuant to, and in accordance with, a registration statement that is effective under the
Securities Act at the time of the Transfer.

				
	 3.
	  	 ☐
	  		  	 Such Transfer is being made pursuant to, and in accordance with, Rule 144A under the Securities Act, and, accordingly, the
undersigned further certifies that the within Note is being transferred to a Person that the undersigned reasonably believes is purchasing the within Note for its own account, or for one or more accounts with respect to which such Person exercises
sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act in a transaction meeting the requirements of Rule 144A. If this item is
checked, then the transferee must complete and execute the acknowledgment contained on the next page.

				
	 4.
	  	 ☐
	  		  	 Such Transfer is being made pursuant to, and in accordance with, any other available exemption from the registration
requirements of the Securities Act (including, if available, the exemption provided by Rule 144 under the Securities Act).

			
		
	 Dated:
	 	  

	
	  

	(Legal Name of Holder)

  

			
		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 Signature Guaranteed:

	
	  

	 (Participant in a Recognized Signature

Guarantee Medallion Program)

		
	 By:
	 	  

		 	Authorized Signatory

  
 A-9 

 TRANSFEREE ACKNOWLEDGEMENT 

The undersigned represents that it is purchasing the within Note for its own account, or for one or more accounts with respect to which the
undersigned exercises sole investment discretion, and that and the undersigned and each such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act. The undersigned acknowledges that the
transferor is relying, in transferring the within Note on the exemption from the registration and prospectus-delivery requirements of the Securities Act of 1933, as amended, provided by Rule 144A and that the undersigned has received such
information regarding the Company as the undersigned has requested pursuant to Rule 144A. 

			
		
	 Dated:
	 	  

	
	  

		 	(Name of Transferee)

			
		
	 By:
	 	  

		 	 Name:

Title:

  
 A-10 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE* 
 INITIAL PRINCIPAL AMOUNT OF THIS GLOBAL NOTE: $[___] 

The following exchanges, transfers or cancellations of this Global Note have been made: 

 

							
	 Date
	 	 Amount of Increase
(Decrease) in

Principal Amount of
this Global Note
	 	 Principal Amount of

this Global Note
 After
Such Increase
(Decrease)
	  	 Signature of
Authorized

Signatory of Trustee

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

  
  

	* 	 Insert for Global Notes only. 

  
 A-11 

 EXHIBIT B-1 

FORM OF RESTRICTED NOTE LEGEND 

THE OFFER AND SALE OF THIS NOTE AND THE SHARES OF COMMON STOCK, IF ANY, ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THIS NOTE MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN,
THE ACQUIRER: 
  

	(1)	 REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL BUYER”
(WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT; AND 

  

	(2)	 AGREES FOR THE BENEFIT OF THE COMPANY THAT IT WILL NOT OFFER, SELL OR OTHERWISE TRANSFER THIS NOTE OR ANY
BENEFICIAL INTEREST HEREIN, EXCEPT ONLY: 

  

	 	(A)	 TO THE COMPANY OR ANY SUBSIDIARY THEREOF; 

 

	 	(B)	 PURSUANT TO A REGISTRATION STATEMENT THAT HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT;

  

	 	(C)	 TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT;

  

	 	(D)	 PURSUANT TO RULE 144 UNDER THE SECURITIES ACT; OR 

 

	 	(E)	 PURSUANT TO ANY OTHER EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT. 

 BEFORE THE REGISTRATION OF ANY SALE OR TRANSFER IN ACCORDANCE WITH (2)(C), (D) OR (E) ABOVE,
THE COMPANY, THE TRUSTEE AND THE REGISTRAR RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH CERTIFICATES OR OTHER DOCUMENTATION OR EVIDENCE AS THEY MAY REASONABLY REQUIRE IN ORDER TO DETERMINE THAT THE PROPOSED SALE OR TRANSFER IS BEING MADE IN
COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS.* 
  

 

	* 	 This paragraph and the immediately preceding paragraph will be deemed to be removed from the face of this
Note at such time when the Company delivers written notice to the Trustee of such deemed removal pursuant to Section 2.12 of the within-mentioned Indenture. 

  
 B1-1 

 EXHIBIT B-2 

FORM OF GLOBAL NOTE LEGEND 

THIS IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE
OF THE DEPOSITARY, WHICH MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS THE OWNER AND HOLDER OF THIS NOTE FOR ALL PURPOSES. 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“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 HEREON IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL NOTE WILL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC, OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE WILL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN ARTICLE 2 OF THE INDENTURE HEREINAFTER
REFERRED TO. 

  
 B2-1xper-ex1030_146.htm

 

EXHIBIT 10.30+

SEVERANCE AGREEMENT

 

This Severance Agreement (“Agreement”) is made by and between Xperi Corporation, a Delaware corporation (the “Company”), and Murali Dharan (“Executive”), effective as of October 16, 2017 (such date, the “Effective Date”).  For purposes of this Agreement, the “Company” shall mean the Company and its subsidiaries.

 

The parties agree as follows:

	
1.
	
Definitions.  For purposes of this Agreement, the following terms shall have the following meanings:

	

	
(a)“Board” shall mean the Board of Directors of the Company.

	

	
(b)“Cause” shall mean any of the following: (i) Executive’s gross negligence or willful misconduct in the performance of his or her duties to the Company and its affiliates; (ii) Executive’s willful and habitual neglect of or failure to perform Executive’s duties of consulting or employment (which neglect or failure is not caused by Executive’s illness or mental or physical disability), which neglect or failure is not cured within thirty (30) days after written notice thereof is received by Executive (it being agreed that a failure of the Company and its affiliates to meet performance objectives shall not, alone, constitute a failure by Executive to perform his duties); (iii) Executive’s commission of any material act of fraud, dishonesty or financial or accounting impropriety with respect to the Company and its affiliates which results in a personal benefit to Executive; (iv) Executive’s failure to cooperate with the Company and its affiliates in any investigation or formal proceeding initiated by a governmental authority or otherwise approved by the Board or the Audit Committee of the Board (which failure is not caused by Executive’s illness or mental or physical disability), which failure is not cured within thirty (30) days after written notice thereof is received by Executive; (v) Executive’s conviction of or plea of guilty or nolo contendere to felony criminal conduct (other than moving vehicle violations); (vi) Executive’s material violation of the Company’s Confidentiality and Proprietary Rights Agreement (as defined below) or similar agreement that Executive has entered into with the Company and its affiliates; or (vii) Executive’s material breach of any obligation or duty under this Agreement or material violation of any written employment or other Company policies that have previously been furnished to Executive, which breach or violation is not cured within thirty (30) days after written notice thereof is received by Executive, if such breach or violation is capable of being cured.

(c)“Code” means the Internal Revenue Code of 1986, as amended, and the Treasury Regulations and other interpretive guidance thereunder.

 

(d)“Good Reason” shall mean the occurrence of any of the following events or conditions without Executive’s written consent:  

 

	

	
(i)a material diminution in Executive’s authority, duties or responsibilities;

(ii)a material diminution in Executive’s base compensation or target annual bonus opportunity, unless such reduction is imposed across-the-board to senior management of the Company (and Executive and the Company agree that without limiting any argument that a lesser diminution is material, any diminution of ten percent (10%) or more measured against Executive’s base compensation and target bonus opportunity as in effect on the Effective Date shall be deemed material for purposes of this clause (ii)); 

 

 

 

(iii)a material change in the geographic location at which Executive must perform his or her duties (and the Company and Executive acknowledge and agree that a change in the geographic location at which Executive must perform his or her duties by more than forty-five (45) miles shall constitute a material change for purposes of this Agreement); or

(iv)any other action or inaction that constitutes a material breach by the Company or any successor or affiliate of its obligations to Executive under this Agreement.

 

Executive must provide written notice to the Company of the occurrence of any of the foregoing events or conditions without Executive’s written consent within ninety (90) days of Executive learning of the occurrence of such event.  The Company or any successor or affiliate shall have a period of thirty (30) days to cure such event or condition after receipt of written notice of such event from Executive.  Any voluntary Separation from Service for “Good Reason” following such thirty (30) day cure period must occur no later than the date that is six (6) months following the occurrence of one of the foregoing events or conditions without Executive’s written consent.  

 

(e)“Permanent Disability” means Executive’s inability to perform the essential functions of his or her position, with or without reasonable accommodation, for a period of at least one hundred twenty (120) consecutive days because of a physical or mental impairment.

 

               (f) “Separation from Service” means a “separation from service” within the meaning of Section 409A of the Code. 

 

2.Term.  The term of this Agreement (“the “Term”) shall continue until the earlier of (i) the second anniversary of the Effective Date, or (ii) the date on which all payments or benefits required to be made or provided hereunder have been made or provided in their entirety Notwithstanding the foregoing, the obligation of the Company to make payments or provide benefits pursuant to this Agreement to which Executive has acquired a right in accordance with the applicable provisions of this Agreement prior to the expiration of the Term shall survive the termination of this Agreement until such payments and benefits have been provided in full.     

 

3.Severance.  

 

(a)If Executive has a Separation from Service as a result of Executive’s discharge by the Company without Cause or by reason of Executive’s resignation for Good Reason, Executive shall be entitled to receive, in lieu of any severance benefits to which Executive may otherwise be entitled under any severance plan or program of the Company, the benefits provided below, which, with respect to clause (ii), will be payable in a lump sum on the day that is sixty (60) days following the date of Executive’s Separation from Service:

 

(i)The Company shall pay to Executive his or her fully earned but unpaid base salary, when due, through the date of Executive’s Separation from Service at the rate then in effect, reimbursement of business expenses incurred prior to the date of Executive’s Separation from Service and properly submitted in accordance with Company policy, plus all other benefits, if any, under any Company group retirement plan, nonqualified deferred compensation plan, equity award plan or agreement, health benefits plan or other Company group benefit plan to which Executive may be entitled pursuant to the terms of such plans or agreements at the time of Executive’s Separation from Service (the “Accrued Obligations”);

 

(ii)Subject to Section 3(c) and Executive’s continued compliance with Section 4, Executive shall be entitled to receive severance pay in an amount equal to one-hundred percent (100%) multiplied by the sum of (x) Executive’s annual base salary as in effect immediately prior to the date of Executive’s Separation from Service, plus (y) Executive’s target annual bonus for the calendar year 

2

 

 

 

in which Executive’s Separation from Service occurs (which bonus shall be prorated for the portion of the calendar year that has elapsed prior to the date of Executive’s Separation from Service); and

 

(iii) Subject to Section 3(c) and Executive’s continued compliance with Section 4, for the period beginning on the date of Executive’s Separation from Service and ending on the date which is twelve (12) full months following the date of Executive’s Separation from Service (or, if earlier, the date on which the applicable continuation period under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) expires) (the “COBRA Coverage Period”), the Company shall continue to provide Executive and his or her eligible dependents who were covered under the Company’s health insurance plans as of the date of Executive’s Separation from Service with health (including medical and dental) insurance benefits substantially similar to those provided to Executive and his or her dependents immediately prior to the date of such Separation from Service.  If any of the Company’s health benefits are self-funded as of the date of Executive’s Separation from Service, or if the Company cannot provide the foregoing benefits in a manner that is exempt from or otherwise compliant with applicable law or the provision of such benefits may result in the Company incurring penalties under applicable law (including, without limitation, Section 409A of the Code and Section 2716 of the Public Health Service Act), instead of providing continued health insurance benefits as set forth above, the Company shall instead pay to Executive an amount equal to the monthly premium payment for Executive and his or her eligible dependents who were covered under the Company’s health plans as of the date of Executive’s Separation from Service (calculated by reference to the premium as of the date of Separation from Service) as currently taxable compensation, in substantially equal monthly installments over the COBRA Coverage Period (or the remaining portion thereof). 

(b)Other Terminations.  If Executive’s employment is terminated by the Company for Cause, by Executive without Good Reason, or as a result of Executive’s death or Permanent Disability, the Company shall not have any other or further obligations to Executive under this Agreement (including any financial obligations) except that Executive shall be entitled to receive the Accrued Obligations.  The foregoing shall be in addition to, and not in lieu of, any and all other rights and remedies which may be available to the Company under the circumstances, whether at law or in equity.

 

(c)Release.  As a condition to Executive’s receipt of any post-termination benefits pursuant to Section 3(a) above (other than the Accrued Obligations), Executive shall execute and not revoke a general release of all claims in favor of the Company (the “Release”) in the form substantially similar to that attached hereto as Exhibit A (and any applicable revocation period applicable to such Release shall have expired) within the sixty (60) day period following the date of Executive’s Separation from Service.  

 

(d)Exclusive Remedy.  Except as otherwise expressly required by law (e.g., COBRA) or as specifically provided herein, all of Executive’s rights to salary, severance, benefits, bonuses and other amounts hereunder (if any) accruing after the termination of Executive’s employment shall cease upon such termination.  In the event of a termination of Executive’s employment with the Company, and except in the event of violation of applicable law by the Company relating to Executive’s employment or the termination thereof, Executive’s sole remedy shall be to receive the payments and benefits described in this Section 3.  

(e)No Mitigation.  Executive shall not be required to mitigate the amount of any payment provided for in this Section 3 by seeking other employment or otherwise, nor shall the amount of any payment or benefit provided for in this Section 3 be reduced by any compensation earned by Executive as the result of employment by another employer or self-employment or by retirement benefits; provided, however, that loans, advances or other amounts owed by Executive to the Company and its affiliates may be offset by the Company against amounts payable to Executive under this Section 3.    

	

	
(f)Return of the Company’s Property.  If Executive’s employment is terminated for any reason, the Company shall have the right, at its option, to require Executive to vacate his or her offices prior to or on the effective date of termination and to cease all activities on the Company’s behalf.  Upon 

3

 

 

 

		
the termination of his or her employment in any manner, as a condition to Executive’s receipt of any post-termination benefits described in this Agreement, Executive shall immediately surrender to the Company all lists, books and records of, or in connection with, the Company’s business, and all other property belonging to the Company and its affiliates, it being distinctly understood that all such lists, books and records, and other documents, are the property of the Company and its affiliates.  Executive shall deliver to the Company a signed statement certifying compliance with this Section 3(f) prior to the receipt of any post-termination benefits described in this Agreement.

(g)Best Pay Provision.

 

       (i)     If any payment or benefit Executive would receive under this Agreement, when combined with any other payment or benefit Executive receives pursuant to the termination of Executive’s employment with the Company and its affiliates (“Payment”), would (A) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (B) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall be either (1) the full amount of such Payment or (2) such lesser amount (with cash payments being reduced before stock option compensation) as would result in no portion of the Payment being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local employment taxes, income taxes, and the Excise Tax, results in Executive’s receipt, on an after-tax basis, of the greater amount of the Payment notwithstanding that all or some portion of the Payment may be subject to the Excise Tax.

 

(ii)     All determinations required to be made under this Section 3(g), including whether and to what extent the Payments shall be reduced and the assumptions to be utilized in arriving at such determination, shall be made by the nationally recognized certified public accounting firm used by the Company immediately prior to the effective date of the change in control giving rise to the application of this Section 3(g) or, if such firm declines to serve, such other nationally recognized certified public accounting firm as may be designated by the Company (the “Accounting Firm”).   The Accounting Firm shall provide detailed supporting calculations both to Executive and the Company at such time as is requested by the Company.  All fees and expenses of the Accounting Firm shall be borne solely by the Company.  Any determination by the Accounting Firm shall be binding upon Executive and the Company.  For purposes of making the calculations required by this Section 3(g), the Accounting Firm may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good-faith interpretations concerning the application of Sections 280G and 4999 of the Code.

 

4.Confidentiality and Proprietary Rights.  Executive and the Company have executed the Company’s Confidentiality and Proprietary Rights Agreement, a copy of which is attached to this Agreement as Exhibit B and incorporated herein by reference (the “Confidentiality and Proprietary Rights Agreement”).  The Company shall be entitled to cease all severance payments and benefits to Executive in the event of his or his material breach of this Section 4.  Nothing in this Agreement or in the Confidentiality and Proprietary Rights Agreement shall be deemed to restrict Executive’s right to communicate directly with, cooperate with, provide information to, or report possible violations of federal law or regulation to, any governmental agency or entity in accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange Act of 1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or any other whistleblower protection provisions of state or federal law or regulation, including, but not limited to, the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, or the U.S. Department of Justice. 

5.Agreement to Arbitrate.  Any dispute, claim or controversy based on, arising out of or relating to Executive’s employment or this Agreement shall be settled by final and binding arbitration in San Jose, California, before a single neutral arbitrator in accordance with the Employment Arbitration Rules and Procedures (the “Rules”) of Judicial Arbitration and Mediation Services (“JAMS”), and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction.  The Rules may be 

4

 

 

 

found online at www.jamsadr.com.  Arbitration may be compelled pursuant to the California Arbitration Act (Code of Civil Procedure §§ 1280 et seq.).  If the parties are unable to agree upon an arbitrator, one shall be appointed by JAMS in accordance with its Rules.  Each party shall pay the fees of its own attorneys, the expenses of its witnesses and all other expenses connected with presenting its case; provided, however, Executive and the Company agree that, to the extent permitted by law, the arbitrator may, in his or her discretion, award reasonable attorneys’ fees to the prevailing party; provided, further, that the prevailing party shall be reimbursed for such fees, costs and expenses within forty-five (45) days following any such award, but in no event later than the last day of the Executive’s taxable year following the taxable year in which the fees, costs and expenses were incurred; provided, further, that the parties’ obligations pursuant to this sentence shall terminate on the tenth (10th) anniversary of the date of Executive’s termination of employment; provided, however, that Executive shall retain the right to file administrative charges with or seek relief through any government agency of competent jurisdiction, and to participate in any government investigation, including but not limited to (a) claims for workers’ compensation, state disability insurance or unemployment insurance; (b) claims for unpaid wages or waiting time penalties brought before the California Division of Labor Standards Enforcement; provided, however, that any appeal from an award or from denial of an award of wages and/or waiting time penalties shall be arbitrated pursuant to the terms of this Agreement; and (c) claims for administrative relief from the United States Equal Employment Opportunity Commission and/or the California Department of Fair Employment and Housing (or any similar agency in any applicable jurisdiction other than California); provided, further, that Executive shall not be entitled to obtain any monetary relief through such agencies other than workers’ compensation benefits or unemployment insurance benefits.  Other costs of the arbitration, including the cost of any record or transcripts of the arbitration, JAMS’ administrative fees, the fee of the arbitrator, and all other fees and costs, shall be borne by the Company.  This Section 5 is intended to be the exclusive method for resolving any and all claims by the parties against each other for payment of damages under this Agreement or relating to Executive’s employment; provided, however, that neither this Agreement nor the submission to arbitration shall limit the parties’ right to seek provisional relief, including without limitation injunctive relief, in any court of competent jurisdiction pursuant to California Code of Civil Procedure § 1281.8 or any similar statute of an applicable jurisdiction.  Seeking any such relief shall not be deemed to be a waiver of such party’s right to compel arbitration.  Both Executive and the Company expressly waive their right to a jury trial.

 

6.At-Will Employment Relationship.  Executive’s employment with the Company is at-will and not for any specified period and may be terminated at any time, with or without Cause or advance notice, by either Executive or the Company.  Any change to the at-will employment relationship must be by specific, written agreement signed by Executive and an authorized representative of the Company.  Nothing in this Agreement is intended to or should be construed to contradict, modify or alter this at-will relationship. 

7.General Provisions.

7.1Successors and Assigns.  The rights of the Company under this Agreement may, without the consent of Executive, be assigned by the Company, in its sole and unfettered discretion, to any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly, acquires all or substantially all of the assets or business of the Company.  The Company will require any successor (whether direct or indirect, by purchase, merger or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and to agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place; provided, however, that no such assumption shall relieve the Company of its obligations hereunder; provided, further, that the failure of any such successor to so assume this Agreement shall constitute a material breach of this Agreement.  As used in this Agreement, the “Company” shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law or otherwise. Executive shall not be entitled to assign any of Executive’s rights or obligations under this Agreement.  

5

 

 

 

This Agreement shall inure to the benefit of and be enforceable by Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.  

7.2Severability.  In the event any provision of this Agreement is found to be unenforceable by an arbitrator or court of competent jurisdiction, such provision shall be deemed modified to the extent necessary to allow enforceability of the provision as so limited, it being intended that the parties shall receive the benefit contemplated herein to the fullest extent permitted by law.  If a deemed modification is not satisfactory in the judgment of such arbitrator or court, the unenforceable provision shall be deemed deleted, and the validity and enforceability of the remaining provisions shall not be affected thereby. 

7.3Interpretation; Construction.  The headings set forth in this Agreement are for convenience only and shall not be used in interpreting this Agreement.  This Agreement has been drafted by legal counsel representing the Company, but Executive has participated in the negotiation of its terms.  Furthermore, Executive acknowledges that Executive has had an opportunity to review and revise the Agreement and have it reviewed by legal counsel, if desired, and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement.  Either party’s failure to enforce any provision of this Agreement shall not in any way be construed as a waiver of any such provision, or prevent that party thereafter from enforcing each and every other provision of this Agreement.

7.4Governing Law and Venue.  This Agreement will be governed by and construed in accordance with the laws of the United States and the State of California applicable to contracts made and to be performed wholly within such State, and without regard to the conflicts of laws principles thereof.  Any suit brought hereon shall be brought in the state or federal courts sitting in Santa Clara County, California, the Parties hereby waiving any claim or defense that such forum is not convenient or proper.  Each party hereby agrees that any such court shall have in personam jurisdiction over it and consents to service of process in any manner authorized by California law.

7.5Notices.  Any notice required or permitted by this Agreement shall be in writing and shall be delivered as follows with notice deemed given as indicated:  (a) by personal delivery when delivered personally; (b) by overnight courier upon written verification of receipt; (c) by telecopy or facsimile transmission upon acknowledgment of receipt of electronic transmission; or (d) by certified or registered mail, return receipt requested, upon verification of receipt.  Notice shall be sent to Executive at the address set forth below and to the Company at its principal place of business, or such other address as either party may specify in writing.

7.6Survival.  Sections 1 (“Definitions”), 3 (“Severance”), 4 (“Confidentiality and Proprietary Rights”), 5 (“Agreement to Arbitrate”) and 7 (“General Provisions”) of this Agreement shall survive termination of Executive’s employment by the Company.

7.7Entire Agreement.  This Agreement and the Confidentiality and Proprietary Rights Agreement incorporated herein by reference together constitute the entire agreement between the parties in respect of the subject matter contained herein and therein and supersede all prior or simultaneous representations, discussions, negotiations, and agreements, whether written or oral, including, without limitation, the Existing Agreement.  This Agreement may be amended or modified only with the written consent of Executive and an authorized representative of the Company.  No oral waiver, amendment or modification will be effective under any circumstances whatsoever. Notwithstanding the foregoing or anything herein to the contrary, although severance provided under this Agreement may offset severance provided under the Executive’s Change in Control Severance Agreement made by and between the Company and the Executive effective as of October 16, 2017 (the “CIC Severance Agreement”) (as specified in Section 3(a)(v) thereof), the CIC Severance Agreement is outside the scope of the foregoing integration provision and shall continue in full force and effect.

6

 

 

 

7.8Code Section 409A.  

(a)To the extent applicable, this Agreement shall be interpreted in accordance with Code Section 409A and Department of Treasury regulations and other interpretive guidance issued thereunder.  Each series of installment payments made under this Agreement is hereby designated as a series of “separate payments” within the meaning of Section 409A of the Code.

(b)If the Executive is a “specified employee” (as defined in Section 409A of the Code), as determined by the Company in accordance with Section 409A of the Code, on the date of the Executive’s Separation from Service, to the extent that the payments or benefits under this Agreement are subject to Section 409A of the Code and the delayed payment or distribution of all or any portion of such amounts to which Executive is entitled under this Agreement is required in order to avoid a  prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, then such portion deferred pursuant to this Section 7.8(b) shall be paid or distributed to Executive in a lump sum on the earlier of (i) the date that is six (6)-months following Executive’s Separation from Service, (ii) the date of Executive’s death or (iii) the earliest date as is permitted under Section 409A of the Code.  Any remaining payments due under the Agreement shall be paid as otherwise provided herein.

(c)Notwithstanding anything to the contrary in this Agreement, in-kind benefits and reimbursements provided under this Agreement during any tax year of Executive shall not affect in-kind benefits or reimbursements to be provided in any other tax year of Executive and are not subject to liquidation or exchange for another benefit.  Notwithstanding anything to the contrary in this Agreement, reimbursement requests must be timely submitted by Executive and, if timely submitted, reimbursement payments shall be made to Executive as soon as administratively practicable following such submission, but in no event later than the last day of Executive’s taxable year following the taxable year in which the expense was incurred.  In no event shall Executive be entitled to any reimbursement payments after the last day of Executive’s taxable year following the taxable year in which the expense was incurred.  This section shall only apply to in-kind benefits and reimbursements that would result in taxable compensation income to Executive.

          7.9Consultation with Legal and Financial Advisors.  By executing this Agreement, Executive acknowledges that this Agreement confers significant legal rights, and may also involve the waiver of rights under other agreements; that the Company has encouraged Executive to consult with Executive’s personal legal and financial advisors; and that Executive has had adequate time to consult with Executive’s advisors before executing this Agreement. 

 

7.10Counterparts.  This Agreement may be executed in multiple counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. 

(Signature Page Follows)

 

	

	

7

 

 

 

		
THE PARTIES TO THIS AGREEMENT HAVE READ THE FOREGOING AGREEMENT AND FULLY UNDERSTAND EACH AND EVERY PROVISION CONTAINED HEREIN. WHEREFORE, THE PARTIES HAVE EXECUTED THIS AGREEMENT ON THE DATES SHOWN BELOW.

Xperi Corporation

 

 

	
Dated: 
	
By:

	
 
	

	
Name: Kris Graves 

	
 
	

	
Title:  Chief Human Resources Officer

 

 

 

Executive

 

 

	
Dated: 
	

	
 
	
Print Name: 
	

 

	
 
	
Address: 
	

 

  

 

 

8

 

 

 

Exhibit A

 

GENERAL RELEASE OF CLAIMS

 

[The language in this Release may change based on legal developments and evolving best practices; provided, however, that no new post-termination covenants shall be imposed on Executive; this form is provided as an example of what will be included in the final Release document.]

This General Release of Claims (“Release”) is entered into as of this _____ day of ________, ____, between __________ (“Executive”), and Xperi Corporation, a Delaware corporation (the “Company”) (collectively referred to herein as the “Parties”).

WHEREAS, Executive and the Company are parties to that certain Severance Agreement dated as of _______, ____ (the “Agreement”);

WHEREAS, the Parties agree that Executive is entitled to certain severance benefits under the Agreement, subject to Executive’s execution of this Release; and

WHEREAS, the Company and Executive now wish to fully and finally to resolve all matters between them.

NOW, THEREFORE, in consideration of, and subject to, the severance benefits payable to Executive pursuant to the Agreement, the adequacy of which is hereby acknowledged by Executive, and which Executive acknowledges that he or she would not otherwise be entitled to receive, Executive and the Company hereby agree as follows:

	
1.
	
General Release of Claims by Executive.  

	

	
(a)Executive, on behalf of himself or herself and his or her executors, heirs, administrators, representatives and assigns, hereby agrees to release and forever discharge the Company and all predecessors, successors and their respective parent corporations, affiliates, related, and/or subsidiary entities, and all of their past and present investors, directors, shareholders, officers, general or limited partners, employees, attorneys, agents and representatives, and the employee benefit plans in which Executive is or has been a participant by virtue of his or her employment with or service to the Company (collectively, the “Company Releasees”), from any and all claims, debts, demands, accounts, judgments, rights, causes of action, equitable relief, damages, costs, charges, complaints, obligations, promises, agreements, controversies, suits, expenses, compensation, responsibility and liability of every kind and character whatsoever (including attorneys’ fees and costs), whether in law or equity, known or unknown, asserted or unasserted, suspected or unsuspected (collectively, “Claims”), which Executive has or may have had against such entities based on any events or circumstances arising or occurring on or prior to the date hereof or on or prior to the date hereof, arising directly or indirectly out of, relating to, or in any other way involving in any manner whatsoever Executive’s employment by or service to the Company or the termination thereof, including any and all claims arising under federal, state, or local laws relating to employment, including without limitation claims of wrongful discharge, breach of express or implied contract, fraud, misrepresentation, defamation, or liability in tort, and claims of any kind that may be brought in any court or administrative agency including, without limitation, claims under Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. Section 2000, et seq.; the Americans with Disabilities Act, as amended, 42 U.S.C. § 12101 et seq.; the Rehabilitation Act of 1973, as amended, 29 U.S.C. § 701 et seq.; the Civil Rights Act of 1866, and the Civil Rights Act of 1991; 42 U.S.C. Section 1981, et seq.; the Age Discrimination in Employment Act, as amended, 29 U.S.C. Section 621, et seq. (the “ADEA”); the 

 

 

 

		
Equal Pay Act, as amended, 29 U.S.C. Section 206(d); regulations of the Office of Federal Contract Compliance, 41 C.F.R. Section 60, et seq.; the Family and Medical Leave Act, as amended, 29 U.S.C. § 2601 et seq.; the Fair Labor Standards Act of 1938, as amended, 29 U.S.C. § 201 et seq.; the Employee Retirement Income Security Act, as amended, 29 U.S.C. § 1001 et seq.; and the California Fair Employment and Housing Act, California Government Code Section 12940, et seq.

Notwithstanding the generality of the foregoing, Executive does not release the following claims:

	
(i)
	
Claims for unemployment compensation or any state disability insurance benefits pursuant to the terms of applicable state law; 

	
(ii)
	
Claims for workers’ compensation insurance benefits under the terms of any worker’s compensation insurance policy or fund of the Company; 

	
(iii)
	
Claims pursuant to the terms and conditions of the federal law known as COBRA; 

	
(iv)
	
Claims for indemnity under the bylaws of the Company, as provided for by California law or under any applicable insurance policy or indemnification agreement with respect to Executive’s liability as an employee, director or officer of the Company;

(v)Claims based on any right Executive may have to enforce the Company’s executory obligations under the Agreement (including, for the avoidance of doubt, Claims to enforce the Company’s obligations to pay or provide payments and benefits that are contingent on the effectiveness of this Release); and

(vi)Claims Executive may have to vested or earned compensation and benefits.

	

	
(b)EXECUTIVE ACKNOWLEDGES THAT he or she HAS BEEN ADVISED OF AND IS FAMILIAR WITH THE PROVISIONS OF CALIFORNIA CIVIL CODE SECTION 1542, WHICH PROVIDES AS FOLLOWS:

	

	
“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH, IF KNOWN BY HIM OR HER, MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”

BEING AWARE OF SAID CODE SECTION, EXECUTIVE HEREBY EXPRESSLY WAIVES ANY RIGHTS he or she MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR COMMON LAW PRINCIPLES OF SIMILAR EFFECT.

	

	
(c)  Executive acknowledges that this Release was presented to him or her on the date indicated above and that Executive is entitled to have twenty-one (21) days’ time in which to consider it.  Executive further acknowledges that the Company has advised him or her that he or she is waiving his or her rights under the ADEA, and that Executive should consult with an attorney of his or her choice before signing this Release, and Executive has had sufficient time to consider the terms of this Release.  Executive represents and acknowledges that if Executive executes this Release before twenty-one (21) days have elapsed, Executive does so knowingly, voluntarily, and upon the advice and with the approval of Executive’s legal counsel (if any), and that Executive voluntarily waives any remaining consideration period.

2

 

 

 

	

	
(d)  Executive understands that after executing this Release, Executive has the right to revoke it within seven (7) days after his or her execution of it.  Executive understands that this Release will not become effective and enforceable unless the seven (7) day revocation period passes and Executive does not revoke the Release in writing.  Executive understands that this Release may not be revoked after the seven (7) day revocation period has passed.  Executive also understands that any revocation of this Release must be made in writing and delivered to the Company at its principal place of business within the seven (7) day period.

	

	
(e)  Executive understands that this Release shall become effective, irrevocable, and binding upon Executive on the eighth (8th) day after his or her execution of it, so long as Executive has not revoked it within the time period and in the manner specified in clause (d) above.  Executive further understands that Executive will not be given any severance benefits under the Agreement unless this Release is effective on or before the date that is sixty (60) days following the date of Executive’s Separation from Service (as defined in the Agreement).

	

	
(f)Nothing in this Release shall be deemed to restrict Executive’s right to communicate directly with, cooperate with, provide information to, or report possible violations of federal law or regulation to, any governmental agency or entity in accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange Act of 1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or any other whistleblower protection provisions of state or federal law or regulation, including, but not limited to, the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, or the U.S. Department of Justice.

	
2.
	
No Assignment.  Executive represents and warrants to the Company Releasees that there has been no assignment or other transfer of any interest in any Claim that Executive may have against the Company Releasees.  Executive agrees to indemnify and hold harmless the Company Releasees from any liability, claims, demands, damages, costs, expenses and attorneys’ fees incurred as a result of any such assignment or transfer from Executive.

3.Severability.  In the event any provision of this Release is found to be unenforceable by an arbitrator or court of competent jurisdiction, such provision shall be deemed modified to the extent necessary to allow enforceability of the provision as so limited, it being intended that the parties shall receive the benefit contemplated herein to the fullest extent permitted by law.  If a deemed modification is not satisfactory in the judgment of such arbitrator or court, the unenforceable provision shall be deemed deleted, and the validity and enforceability of the remaining provisions shall not be affected thereby. 

4.Interpretation; Construction.  The headings set forth in this Release are for convenience only and shall not be used in interpreting this Agreement.  This Release has been drafted by legal counsel representing the Company, but Executive has participated in the negotiation of its terms.  Furthermore, Executive acknowledges that Executive has had an opportunity to review and revise the Release and have it reviewed by legal counsel, if desired, and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Release.  Either party’s failure to enforce any provision of this Release shall not in any way be construed as a waiver of any such provision, or prevent that party thereafter from enforcing each and every other provision of this Release.

	
5.
	
Governing Law and Venue.  This Release will be governed by and construed in accordance with the laws of the United States of America and the State of California applicable to contracts made and to be performed wholly within such State, and without regard to the conflicts of laws principles thereof.  Any suit brought hereon shall be brought in the state or federal courts sitting in Santa Clara County, California, the Parties hereby waiving any claim or defense that such forum is not convenient or proper.  

3

 

 

 

		
Each party hereby agrees that any such court shall have in personam jurisdiction over it and consents to service of process in any manner authorized by California law.

	
6.
	
Entire Agreement.  This Release and the Agreement constitute the entire agreement of the Parties in respect of the subject matter contained herein and therein and supersede all prior or simultaneous representations, discussions, negotiations and agreements, whether written or oral.  This Release may be amended or modified only with the written consent of Executive and an authorized representative of the Company.  No oral waiver, amendment or modification will be effective under any circumstances whatsoever.  

	
7.
	
Counterparts.  This Release may be executed in multiple counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.

(Signature Page Follows) 

 

 

 

4

 

 

 

IN WITNESS WHEREOF, and intending to be legally bound, the Parties have executed the foregoing Release as of the date first written above.

 

	
Executive
	
Xperi Corporation

	

	
 

	

	
By:  

	
Print Name: 
	
Print Name:  

	

	
Title: 

 

 

 

 

 

 

 

 

 

 

5

 

 

 

Exhibit B

CONFIDENTIALITY AND Proprietary RIGHTS Agreement

 

[Attached]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}]]