Document:

Supplemental Indenture No. 2, dated July 18, 2012

 Exhibit 4.1 
 KRAFT FOODS GROUP, INC., 
 as the Company, 

KRAFT FOODS INC., 
 as the Guarantor 
 and 

DEUTSCHE BANK TRUST COMPANY AMERICAS, 
 as the Trustee 
 SUPPLEMENTAL INDENTURE NO. 2 

DATED AS OF JULY 18, 2012 
 TO INDENTURE 
 DATED AS OF JUNE 4, 2012 

Relating To 
 $1,034,657,000 of 6.125% Notes due 2018 
 $900,000,000 of 5.375% Notes due
2020 
 $877,860,000 of 6.875% Notes due 2039 
 $787,483,000 of 6.500% Notes due 2040 

 SUPPLEMENTAL INDENTURE NO. 2 

SUPPLEMENTAL INDENTURE NO. 2, dated as of July 18, 2012 (the “Supplemental Indenture”), among Kraft Foods
Group, Inc. (the “Company”), a Virginia corporation, Kraft Foods Inc. (the “Guarantor”) and Deutsche Bank Trust Company Americas, a New York banking corporation organized and existing under the laws of the State of
New York, as trustee (the “Trustee”), to the Base Indenture (as defined below). 
 RECITALS

 WHEREAS, the Company has heretofore executed and delivered to the Trustee an Indenture, dated as of
June 4, 2012 (the “Base Indenture”), providing for the issuance from time to time of its notes and other evidences of senior debt securities, to be issued in one or more series as therein provided; 

WHEREAS, pursuant to the terms of the Base Indenture, the Company desires to provide for the establishment of four series of notes
to be known respectively as its 6.125% Notes due 2018 (the “2018 Notes”), its 5.375% Notes due 2020 (the “2020 Notes”), its 6.875% Notes due 2039 (the “2039 Notes”) and its 6.500% Notes due 2040
(the “2040 Notes” and, together with the 2018 Notes, the 2020 Notes and the 2039 Notes, the “Notes”), the form and substance of such Notes and the terms, provisions and conditions thereof to be set forth as provided
in the Base Indenture and this Supplemental Indenture (together, the “Indenture”); 
 WHEREAS, the Notes
initially will be fully guaranteed as to payment of principal, premium, if any, and interest on a senior unsecured basis (the “Guarantee”) by the Guarantor; 
 WHEREAS, the Company and the Guarantor have requested that the Trustee execute and deliver this Supplemental Indenture, and all requirements necessary to make this Supplemental Indenture a legal,
valid and binding instrument in accordance with its terms, to make the Notes, when executed by the Company and authenticated and delivered by the Trustee, the legal, valid and binding obligations of the Company, and to make the Guarantee included
herein, the legal, valid and binding obligation of the Guarantor, and all acts and things necessary have been done and performed to make this Supplemental Indenture enforceable in accordance with its terms, and the execution and delivery of this
Supplemental Indenture has been duly authorized in all respects; and 
 WHEREAS, the Notes will initially be issued, in
definitive form, as a dividend to Kraft Foods Inc. and will thereafter be transferred by Kraft Foods Inc. in connection with the settlement of the exchange offers by Kraft Foods Inc. (together, the “Kraft Exchange”) as described in
the Offering Memorandum, dated June 18, 2012 (as amended) and the related letter of transmittal. 
 WITNESSETH:

 NOW, THEREFORE, for and in consideration of the premises contained herein, each party agrees for the benefit of
each other party and for the equal and ratable benefit of the Holders of the Notes, as follows: 
 ARTICLE ONE 

DEFINITIONS 
 Section 1.01. Capitalized terms used but not defined in this Supplemental Indenture shall have the meanings ascribed to them in the Base Indenture. 

Section 1.02. References in this Supplemental Indenture to article and section numbers shall be deemed to be references to
article and section numbers of this Supplemental Indenture unless otherwise specified. 
 Section 1.03. For purposes
of this Supplemental Indenture, the following terms have the meanings ascribed to them as follows: 

 “Additional Notes” means any additional Notes that may be issued from time
to time pursuant to the second paragraph of Section 2.01. 
 “Base Indenture” has the meaning provided in
the recitals. 
 “Depositary” has the meaning provided in Section 2.03. 

“Distribution” has the meaning provided in the definition of “Spin-Off.” 

“Exchange Notes” means notes issued in a registered exchange offer pursuant to the Registration Rights Agreement.

 “Global Snacks Business” means the Guarantor’s U.S. and Canadian snacks and confectionery business,
including the related foodservice operations, but excluding the Planters and Corn Nuts businesses, and all of its current businesses conducted outside of the United States and Canada, except for the North American Grocery Export
Business. 
 “Grocery Business Lines” means the Guarantor’s current (as of the date hereof) U.S. and
Canadian grocery, beverages, cheese, convenient meals, Planters and Corn Nuts businesses, including the related foodservice operations and the grocery business operations in Puerto Rico (excluding the powdered and liquid concentrate
beverages businesses in Puerto Rico). 
 “Indenture” has the meaning provided in the recitals. 

“Initial Notes” means the aggregate principal amount of each series of Notes issued on the date hereof, as specified on
the first paragraph of Section 2.01. 
 “Interest Payment Date” has the meaning provided in
Section 2.04. 
 “Internal Reorganization” means the series of transactions described in clause
(i) in the definition of “Spin-Off.” 
 “New Snacks Company” has the meaning provided in the
definition of “Spin-Off.” 
 “North American Grocery Export Business” means the Guarantor’s
export operations related to the Grocery Business Lines in the United States and Canada, except for the Philadelphia cream cheese, and certain powdered and liquid concentrate beverage businesses in a number of jurisdictions and the businesses
related to certain branded products that the Guarantor will market and sell in a limited number of countries outside of the United States and Canada. 
 “Notes” has the meaning provided in the recitals. For the avoidance of doubt, “Notes” shall include the Additional Notes, if any. 

“Registration Rights Agreement” “ means (i) the registration rights agreement, dated as of July 18, 2012
among the Company, the Guarantor, and the dealer managers party thereto and (ii) with respect to any Additional Notes, one or more substantially similar registration rights agreements among the Company and the other parties thereto, as such
agreements may be amended from time to time. 
 “Spin-Off” means the series of transactions pursuant to which
(i) (A) the Company will allocate, transfer and assign, or cause to be allocated, transferred and assigned, the assets and liabilities of the Guarantor’s Global Snacks Business to a new wholly owned Subsidiary being a Delaware limited
liability company (the “New Snacks Company”) in exchange for 100% of the outstanding shares of New Snacks Company and (B) the Company will distribute all of the outstanding shares of New Snacks Company to the Guarantor and
(ii) the Guarantor’s distribution to its shareholders of 100% of the outstanding shares of the Company (the “Distribution”). 

  
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 “Supplemental Indenture” has the meaning provided in the preamble.

 “Trustee” has the meaning provided in the preamble. 

ARTICLE TWO 
 GENERAL TERMS AND CONDITIONS OF THE NOTES 
 Section 2.01.
Designation and Principal Amount. 
 The Notes are hereby authorized and are respectively designated the 6.125% Notes due
2018, the 5.375% Notes due 2020, the 6.875% Notes due 2039 and the 6.500% Notes due 2040, each unlimited in aggregate principal amount. The 2018 Notes issued on the date hereof pursuant to the terms of the Indenture shall be in an aggregate
principal amount of $ 1,034,657,000, the 2020 Notes issued on the date hereof pursuant to the terms of the Indenture shall be in an aggregate principal amount of $900,000,000, the 2039 Notes issued on the date hereof pursuant to the terms of the
Indenture shall be in an aggregate principal amount of $ 877,860,000 and the 2040 Notes issued on the date hereof pursuant to the terms of the Indenture shall be in an aggregate principal amount of $ 787,483,000, which amounts shall be set forth in
the written order of the Company for the authentication and delivery of the Notes pursuant to Section 301 of the Base Indenture. 
 In addition, without the consent of the holders of an applicable series of Notes, the Company may issue, from time to time in accordance with the provisions of the Indenture, additional Notes having the
same ranking and the same interest rate, maturity and other terms as such series of Notes (except for the issue date, issue price, and, in some cases, the first payment of interest or interest accruing prior to the issue date of such additional
Notes); provided that if such additional Notes are not fungible with such Notes issued on the date hereof for U.S. federal income tax purposes, the additional Notes will be issued under a separate CUSIP number. Any additional Notes having
such similar terms, together with the applicable series of Notes issued on the date hereof, shall constitute a single series of Notes under the Indenture. No additional Notes may be issued if an Event of Default has occurred with respect to the
applicable series of Notes. 
 Section 2.02. Maturity. 

(a) Unless an earlier redemption has occurred, the principal amount of the 2018 Notes shall mature and be due and payable, together with
any accrued interest thereon, on August 23, 2018. 
 (b) Unless an earlier redemption has occurred, the principal amount of
the 2020 Notes shall mature and be due and payable, together with any accrued interest thereon, on February 10, 2020. 
 (c)
Unless an earlier redemption has occurred, the principal amount of the 2039 Notes shall mature and be due and payable, together with any accrued interest thereon, on January 26, 2039. 

(d) Unless an earlier redemption has occurred, the principal amount of the 2040 Notes shall mature and be due and payable, together with
any accrued interest thereon, on February 9, 2040. 
 Section 2.03. Form and Payment. 

The Notes shall be issued to Kraft Foods Inc. as certificated notes, in definitive, fully registered form without coupons in denominations
of $2,000 and integral multiples of $1,000 in excess thereof. In order to accommodate the transfer of the interests in the Notes in connection with the settlement of the Kraft Exchange, global notes will also be issued in fully registered book-entry
form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. 
 The Notes and the
Trustee’s Certificates of Authentication to be endorsed thereon are to be substantially in the form of Exhibit A-1, Exhibit A-2, Exhibit A-3 and Exhibit A-4, respectively, which forms are hereby incorporated in and
made a part of this Supplemental Indenture. 

  
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 The terms and provisions contained in the Notes shall constitute, and are hereby expressly
made, a part of this Supplemental Indenture, and the Company, the Guarantor and the Trustee, by their execution and delivery of this Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. 

Principal, premium, if any, and/or interest, if any, on the global notes representing the Notes shall be made to The Depository Trust
Company (together with any successor thereto, the “Depositary”). 
 The global notes representing the Notes
shall be deposited with, or on behalf of, the Depositary and shall be registered in the name of the Depositary or a nominee of the Depositary. No global note may be transferred except as a whole by a nominee of the Depositary to the Depositary or to
another nominee of the Depositary, or by the Depositary or such nominee to a successor of the Depositary or a nominee of such successor. 
 Additional provisions relating to the Initial Notes, Additional Notes, Exchange Notes and any other Notes issued under this Supplemental Indenture are set forth in Appendix A, which is hereby
incorporated in and made a part of this Supplemental Indenture. 
 Section 2.04. Interest. 

Interest on the 2018 Notes shall accrue at the rate of 6.125% per annum, interest on the 2020 Notes shall accrue at the rate of
5.375% per annum, interest on the 2039 Notes shall accrue at the rate of 6.875% per annum and interest on the 2040 Notes shall accrue at the rate of 6.500% per annum. Interest on the Notes shall accrue from July 18, 2012 or the
most recent interest payment date on which interest was paid. Interest on the 2018 Notes shall be payable semi-annually in arrears on February 23 and August 23 of each year, beginning on August 23, 2012; interest on the 2020 Notes
shall be payable semi-annually in arrears on February 10 and August 10 of each year, beginning on August 10, 2012; interest on the 2039 Notes shall be payable semi-annually in arrears on January 26 and July 26 of each year,
beginning on July 26, 2012; and interest on the 2040 Notes shall be payable semi-annually in arrears on February 9 and August 9 of each year, beginning on August 9, 2012 (with respect to the applicable series of Notes, each an
“Interest Payment Date”). Interest on the 2018 Notes shall be payable to the Holders in whose names the 2018 Notes are registered at the close of business on the preceding February 8 and August 8; interest on the 2020
Notes shall be payable to the Holders in whose names the 2020 Notes are registered at the close of business on the preceding January 26 and July 26; interest on the 2039 Notes shall be payable to the Holders in whose names the 2039 Notes
are registered at the close of business on the preceding January 11 and July 11; and interest on the 2040 Notes shall be payable to the Holders in whose names the 2040 Notes are registered at the close of business on the preceding
January 25 and July 25 (with respect to the applicable series of Notes, each a “Record Date”). Interest on the Notes shall be computed on the basis of a 360-day year comprising twelve 30-day months. 

ARTICLE THREE 
 GUARANTEE 
 Section 3.01. Guarantee of Kraft Foods Inc.

 Pursuant to Article Fourteen of the Base Indenture, as of the date hereof, the obligations of the Company pursuant to the
Notes, including any repurchase obligations resulting from a Change of Control (as defined in the Notes), will be fully guaranteed, on an unsecured basis, by the Guarantor. 
 Section 3.02. Release of the Guarantee. 
 The Guarantor shall be
automatically and unconditionally released and discharged from all obligations under the Indenture and the Guarantee without any action required on the part of the Trustee or any Holder upon the occurrence of the Distribution (so long as the other
transactions constituting the Spin-Off have occurred). The Guarantor’s Guarantee shall also terminate upon defeasance or discharge of the Notes, as provided in “Defeasance.” 

  
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 ARTICLE FOUR 
 MISCELLANEOUS 
 Section 4.01. Application of Supplemental
Indenture. 
 The Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed. This
Supplemental Indenture shall be deemed part of the Base Indenture in the manner and to the extent herein and therein provided. 

Section 4.02. Trust Indenture Act Controls. 
 If any provision hereof limits, qualifies or conflicts with the duties imposed by Sections 310 through 317 of the Trust Indenture Act, the imposed duties shall control. 

Section 4.03. Conflict with Base Indenture. 
 To the extent not expressly amended or modified by this Supplemental Indenture, the Base Indenture shall remain in full force and effect. If any provision of this Supplemental Indenture relating to the
Notes is inconsistent with any provision of the Base Indenture, the provision of this Supplemental Indenture shall control. 

Section 4.04. Governing Law; Waiver of Jury Trial 
 THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO
THIS SUPPLEMENTAL INDENTURE OR THE TRANSACTION CONTEMPLATED HEREBY. 
 Section 4.05. Successors. 

All agreements of the Company in the Base Indenture, this Supplemental Indenture and the Notes shall bind its successors. All agreements
of the Guarantor in this Supplemental Indenture and the Notes shall bind its successors. All agreements of the Trustee in the Base Indenture and this Supplemental Indenture shall bind its successors. 

Section 4.06. Counterparts. 
 This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same
instrument. 
 Section 4.07. Trustee Disclaimer. 

The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture and the Notes other than as to the
validity of its execution and delivery by the Trustee. The recitals and statements herein and in the Notes are deemed to be those of the Company and not the Trustee and the Trustee assumes no responsibility for the same. The Trustee or any
Authenticating Agent shall not be accountable for the use or application by the Company of Notes or the proceeds thereof. 

  
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 Section 4.08. Supplemental Indenture Without Consent of Holders.

 In addition to the circumstances set forth in Section 9.01 of the Base Indenture (Supplemental Indentures Without
Consent of Holders), without the consent of any Holders of Notes or coupons, the Company, when authorized by a Board Resolution, and the Trustee for the Securities of any or all series of Notes, at any time and from time to time, may enter into
one or more indentures supplemental hereto, in form satisfactory to such Trustee, to amend this Supplemental Indenture to conform this Supplemental Indenture or the terms of any series of Notes to the “Description of New Notes” section of
the Offering Memorandum, dated June 18, 2012, related thereto, as evidenced by an Officers’ Certificate. 

[Remainder of page intentionally left blank] 

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

			
	KRAFT FOODS GROUP, INC.
		
	By:	 	/s/ Barbara L. Brasier
	Name:	 	Barbara L. Brasier
	Title:	 	Senior Vice President and Treasurer
	
	KRAFT FOODS INC., as Guarantor
		
	By:	 	/s/ Barbara L. Brasier
	Name:	 	Barbara L. Brasier
	Title:	 	Senior Vice President and Treasurer
	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
		
	By:	 	/s/ Carol Ng
	Name:	 	Carol Ng
	Title:	 	Vice President
		
	By:	 	/s/ Lisa Karlsen
	Name:	 	Lisa Karlsen
	Title:	 	Vice President

 [Signature Page to Supplemental Indenture No. 2] 

 Appendix A 
 PROVISIONS RELATING TO INITIAL NOTES, 
 ADDITIONAL NOTES AND EXCHANGE NOTES

 Section 1.1 Definitions. 
 (a) Capitalized Terms. 
 Capitalized terms used but not defined in this
Appendix A have the meanings given to them in this Indenture. The following capitalized terms have the following meanings: 

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

“Clearstream” means Clearstream Banking, Société Anonyme, or any successor securities clearing agency.

 “Custodian” means the Trustee, as custodian with respect to the Notes in global form, or any successor
entity thereto. 
 “Definitive Note” means a certificated Initial Note, Additional Note or Exchange Note issued
pursuant to the Indenture (bearing the Restricted Notes Legend if the transfer of such Note is restricted by applicable law) that does not include the Global Notes Legend. 
 “Distribution Compliance Period,” with respect to any Note, means the period of 40 consecutive days beginning on and including the later of (a) the day on which such Note is first
offered to persons other than distributors (as defined in Regulation S) in reliance on Regulation S, notice of which day shall be promptly given by the Company to the Trustee, and (b) the date of issuance with respect to such Note or any
predecessor of such Note. 
 “Euroclear” means Euroclear Bank S.A./N.Y., as operator of Euroclear systems
Clearance System or any successor securities clearing agency. 
 “Exchange Offer” has the meaning set forth in
the Registration Rights Agreement. 
 “IAI” means an institution that is an “accredited investor” as
described in Rule 501(a)(1), (2), (3) or (7) under the Securities Act and is not a QIB. 
 “QIB”
means a “qualified institutional buyer” as defined in Rule 144A. 
 “Regulation S” means Regulation S
promulgated under the Securities Act. 
 “Rule 144” means Rule 144 promulgated under the Securities Act.

 “Rule 144A” means Rule 144A promulgated under the Securities Act. 

“Transfer Restricted Notes” means Definitive Notes and any Notes in global form that bear or are required to bear the
Restricted Notes Legend. 
 “Unrestricted Global Note” means any Note in global form that does not bear or is
not required to bear the Restricted Notes Legend. 
 “U.S. person” means a “U.S. person” as defined
in Regulation S. 

  
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 (b) Other Definitions. 

 

					
	 Term:
	  	Defined in
Section:	 
	 “Agent Members”
	  	 	2.1	(d) 
	 “Definitive Notes Legend”
	  	 	2.2	(e) 
	 “ERISA Legend”
	  	 	2.2	(b) 
	 “Global Note”
	  	 	2.1	(c) 
	 “Global Notes Legend”
	  	 	2.2	(e) 
	 “IAI Global Note”
	  	 	2.1	(c) 
	 “Original Definitive Notes”
	  	 	2.1	(a) 
	 “Regulation S Global Note”
	  	 	2.1	(c) 
	 “Regulation S Notes”
	  	 	2.1	(a) 
	 “Restricted Notes Legend”
	  	 	2.3	(e) 
	 “Rule 144A Global Note”
	  	 	2.1	(c) 
	 “Rule 144A Notes”
	  	 	2.1	(a) 

 Section 2.1 Form and Dating 
 (a) The Initial Notes issued on the date hereof shall originally be issued to Kraft Foods Inc. as part of a dividend by the Company (“Original Definitive Notes”), and will thereafter
be transferred by Kraft Foods Inc. in connection with the settlement of the exchange offers by the Guarantor to (1) QIBs in reliance on Rule 144A (“Rule 144A Notes”) and (2) Persons other than U.S. persons in reliance
on Regulation S (“Regulation S Notes”). Additional Notes may also be considered to be Rule 144A Notes or Regulation S Notes, as applicable. 
 (b) Original Definitive Notes. The Original Definitive Notes shall be issued initially in the form of one or more certificated notes in definitive, fully registered from, numbered RX-1 upward,
without interest coupons and bearing the Original Definitive Notes Legend, which shall be registered in the name of Kraft Foods Inc., duly executed by the Company and authenticated by the Trustee as provided in the Indenture. In connection with the
settlement of the Kraft Exchange, the Definitive Notes may be exchanged at the direction of Kraft Foods Inc. for interests in the Global Notes and upon the completion of such exchange the Original Definitive Notes shall be cancelled. 

(c) Global Notes. Rule 144A Notes shall be issued initially in the form of one or more permanent global Notes in definitive,
fully registered form, numbered RA-1 upward (collectively, the “Rule 144A Global Note”) and Regulation S Notes shall be issued initially in the form of one or more global Notes, numbered RS-1 upward (collectively, the
“Regulation S Global Note”), in each case without interest coupons and bearing the Global Notes Legend and Restricted Notes Legend, which shall be deposited on behalf of the purchasers of the Notes represented thereby with the
Custodian, and registered in the name of the Depositary or a nominee of the Depositary, duly executed by the Company and authenticated by the Trustee as provided in the Indenture. One or more global Notes in definitive, fully registered form without
interest coupons and bearing the Global Notes Legend and the Restricted Notes Legend, numbered RIAI-1 upward (collectively, the “IAI Global Note”) shall also be issued at the request of the Trustee, deposited with the Custodian, and
registered in the name of the Depositary or a nominee of the Depositary, duly executed by the Company and authenticated by the Trustee as provided in this Indenture to accommodate transfers of beneficial interests in the Notes to IAIs subsequent to
the initial distribution. The Rule 144A Global Note, the IAI Global Note, the Regulation S Global Note and any Unrestricted Global Note are each referred to herein as a “Global Note” and are collectively referred to herein
as “Global Notes.” Each Global Note shall represent such of the outstanding Notes as shall be specified in the “Schedule of Exchanges of Interests in the Global Note” attached thereto and each shall provide that it shall
represent the aggregate principal amount of Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from time to time be reduced or increased, as applicable, to reflect exchanges
and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of outstanding Notes represented thereby shall be made by the Trustee or the Custodian, at the direction of the
Trustee, in accordance with instructions given by the Holder thereof as required by Sections 304 and 305 of this Indenture and Section 2.2(c) of this Appendix A. 

  
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 (d) Book-Entry Provisions. This Section 2.1(d) shall apply only to a Global Note
deposited with or on behalf of the Depositary. 
 The Company shall execute and the Trustee shall, in accordance with this
Section 2.1(d) and Section 303 of this Indenture and pursuant to a Company Order signed by one authorized officer of the Company, authenticate and deliver initially one or more Global Notes that (i) shall be registered in the name of
the Depositary for such Global Note or Global Notes or the nominee of such Depositary and (ii) shall be delivered by the Trustee to such Depositary or pursuant to such Depositary’s instructions or held by the Trustee as Custodian.

 Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under the Indenture
with respect to any Global Note held on their behalf by the Depositary or by the Trustee as Custodian or under such Global Note, and the Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the
absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or
other authorization furnished by the Depositary or impair, as between the Depositary and its Agent Members, the operation of customary practices of such Depositary governing the exercise of the rights of a holder of a beneficial interest in any
Global Note. 
 (e) Definitive Notes. Except as provided in Section 2.2 or Section 2.3 of this Appendix A,
owners of beneficial interests in Global Notes shall not be entitled to receive physical delivery of Definitive Notes. 
 Section 2.2
Transfer and Exchange. 
 (a) Transfer and Exchange of Definitive Notes for Definitive Notes. When Definitive
Notes are presented to the Security Registrar with a written request: 
 (i) to register the transfer of
such Definitive Notes; or 
 (ii) to exchange such Definitive Notes for an equal principal amount of
Definitive Notes of other authorized denominations, 
 the Security Registrar shall register the transfer or make the exchange as requested if
its reasonable requirements for such transaction are met; provided, however, that the Definitive Notes surrendered for transfer or exchange: 
 (1) shall be duly endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to the Company and the Security Registrar, duly executed by the Holder thereof or his
attorney duly authorized in writing; and 
 (2) in the case of Transfer Restricted Notes (other than
Original Definitive Notes), they are being transferred or exchanged pursuant to an effective registration statement under the Securities Act or pursuant to Section 2.2(b) of this Appendix A or otherwise in accordance with the Restricted Notes
Legend, and are accompanied by a certification from the transferor in the form provided on the reverse side of the Form of Note in Exhibit A to the Supplemental Indenture for exchange or registration of transfers and, as applicable, delivery of such
legal opinions, certifications and other information as may be requested pursuant thereto. 
 (b) Restrictions on
Transfer of a Definitive Note for a Beneficial Interest in a Global Note. A Definitive Note may not be exchanged for a beneficial interest in a Global Note except upon satisfaction of the requirements set forth below. Upon receipt by the Trustee
of a Definitive Note, duly endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to the Company and the Security Registrar, together with: 

(i) in the case of a Definitive Note other than an Original Definitive Note, a certification from the transferor in
the form provided on the reverse side of the Form of Note in Exhibit A to the Supplemental Indenture for exchange or registration of transfers and, as applicable, delivery of such legal opinions, certifications and other information as may be
requested pursuant thereto; and 

  
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 (ii) written instructions directing the Trustee to make, or to direct
the Custodian to make, an adjustment on its books and records with respect to such Global Note to reflect an increase in the aggregate principal amount of the Notes represented by the Global Note, such instructions to contain information regarding
the Depositary account to be credited with such increase, 
 the Trustee shall cancel such Definitive Note and cause, or direct the Custodian to
cause, in accordance with the standing instructions and procedures existing between the Depositary and the Custodian, the aggregate principal amount of Notes represented by the Global Note to be increased by the aggregate principal amount of the
Definitive Note to be exchanged and shall credit or cause to be credited to the account of the Person specified in such instructions a beneficial interest in the Global Note equal to the principal amount of the Definitive Note so canceled. If the
applicable Global Note is not then outstanding, the Company shall issue and the Trustee shall authenticate, upon written order of the Company in the form of an Officers’ Certificate, a new applicable Global Note in the appropriate principal
amount. 
 (c) Transfer and Exchange of Global Notes. 

(i) The transfer and exchange of Global Notes or beneficial interests therein shall be effected through the
Depositary, in accordance with the Indenture (including applicable restrictions on transfer set forth in Section 2.2(d) of this Appendix A, if any) and the procedures of the Depositary therefor. A transferor of a beneficial interest in a Global
Note shall deliver to the Security Registrar a written order given in accordance with the Depositary’s procedures containing information regarding the participant account of the Depositary to be credited with a beneficial interest in such
Global Note, or another Global Note, and such account shall be credited in accordance with such order with a beneficial interest in the applicable Global Note and the account of the Person making the transfer shall be debited by an amount equal to
the beneficial interest in the Global Note being transferred. 
 (ii) If the proposed transfer is a transfer
of a beneficial interest in one Global Note to a beneficial interest in another Global Note, the Security Registrar shall reflect on its books and records the date and an increase in the principal amount of the Global Note to which such interest is
being transferred in an amount equal to the principal amount of the interest to be so transferred, and the Security Registrar shall reflect on its books and records the date and a corresponding decrease in the principal amount of the Global Note
from which such interest is being transferred. 
 (iii) Notwithstanding any other provisions of this
Appendix A (other than the provisions set forth in Section 2.3 of this Appendix A), a Global Note may not be transferred except as a whole and not in part if the transfer is by the Depositary to a nominee of the Depositary or by a nominee of
the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. 

(d) Restrictions on Transfer of Global Notes; Voluntary Exchange of Interests in Transfer Restricted Global Notes for Interests in
Unrestricted Global Notes. 
 (i) Transfers by an owner of a beneficial interest in a Rule 144A Global Note
or an IAI Global Note to a transferee who takes delivery of such interest through another Transfer Restricted Global Note shall be made in accordance with the Applicable Procedures and the Restricted Notes Legend and only upon receipt by the Trustee
of a certification from the transferor in the form provided on the reverse side of the Form of Note in Exhibit A to the Supplemental Indenture for exchange or registration of transfers and, as applicable, delivery of such legal opinions,
certifications and other information as may be requested pursuant thereto. In addition, in the case of a transfer of a beneficial interest in either a Rule 144A Global Note or an interest in an IAI Global Note, the transferee must furnish a
certification or a signed letter in the form provided on the reverse side of the Form of Note in Exhibit A to the Supplemental Indenture to the Trustee. 
 (ii) During the Distribution Compliance Period, beneficial ownership interests in the Regulation S Global Note may only be sold, pledged or transferred through Euroclear or Clearstream in accordance with
the Applicable Procedures, the Restricted Notes Legend on such Regulation S Global Note and any 

  
 A-4

 
applicable securities laws of any state of the United States of America. Prior to the expiration of the Distribution Compliance Period, transfers by an owner of a beneficial interest in the
Regulation S Global Note shall be made only in accordance with the Applicable Procedures and the Restricted Notes Legend and upon receipt by the Trustee of a written certification from the transferor of the beneficial interest in the form provided
on the reverse side of the Form of Note in Exhibit A to the Supplemental Indenture for exchange or registration of transfers and, in the case of a transfer to a transferee who takes delivery of such interest through a Rule 144A Global Note or
an IAI Global Note, the transferee must furnish a certification or a signed letter in the form provided on the reverse side of the Form of Note in Exhibit A to the Supplemental Indenture to the Trustee. Such written certifications or letter shall no
longer be required after the expiration of the Distribution Compliance Period. Upon the expiration of the Distribution Compliance Period, beneficial ownership interests in the Regulation S Global Note shall be transferable in accordance with
applicable law and the other terms of the Indenture. 
 (iii) Upon the expiration of the Distribution Compliance
Period, beneficial interests in the Regulation S Global Note may be exchanged for beneficial interests in an Unrestricted Global Note upon certification in the form provided on the reverse side of the Form of Note in Exhibit A to the
Supplemental Indenture for an exchange from a Regulation S Global Note to an Unrestricted Global Note. 
 (iv)
Beneficial interests in a Transfer Restricted Note that is a Rule 144A Global Note or an IAI Global Note may be exchanged for beneficial interests in an Unrestricted Global Note if the Holder certifies in writing to the Security Registrar that its
request for such exchange is in respect of a transfer made in reliance on Rule 144 (such certification to be in the form set forth on the reverse side of the Form of Note in Exhibit A to the Supplemental Indenture) and/or upon delivery of such legal
opinions, certifications and other information as the Company or the Trustee may reasonably request. 
 (v) If no
Unrestricted Global Note is outstanding at the time of a transfer contemplated by the preceding clauses (iii) and (iv), the Company shall issue and the Trustee shall authenticate, upon written order of the Company in the form of an
Officers’ Certificate, a new Unrestricted Global Note in the appropriate principal amount. 
 (e) Legends.

 (i) Except as permitted by Section 2.2(d), this Section 2.2(e), Section 2.2(i) and
Section 2.2(j) of this Appendix A, each Note certificate evidencing the Global Notes and the Definitive Notes (and all Notes issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following form (each
defined term in the legend being defined as such for purposes of the legend only) (“Restricted Notes Legend”): 

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED,
SOLD, PLEDGED 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 
 [(A) 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, OR 

(B) IT IS NOT A U.S. PERSON (WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT) AND][IN THE CASE OF RULE 144A
AND REGULATION S NOTES] 

  
 A-5

 [IT IS AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING
OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM
PRINCIPAL AMOUNT OF SECURITIES OF $250,000, AND][IN THE CASE IAI GLOBAL NOTES] 
 (2) AGREES FOR THE BENEFIT OF KRAFT FOODS
GROUP, INC. THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS NOTE OR ANY BENEFICIAL INTEREST HEREIN, EXCEPT IN ACCORDANCE WITH THE SECURITIES ACT AND ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND ONLY

 (A) TO KRAFT FOODS GROUP, INC., 

(B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, 

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

(D) IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, 

(E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR
(7) UNDER THE SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF SECURITIES OF
$250,000, OR 
 (F) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR
ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 PRIOR TO THE REGISTRATION OF ANY
TRANSFER IN ACCORDANCE WITH (2)(C) ABOVE OR (2)(D) ABOVE, A DULY COMPLETED AND SIGNED CERTIFICATE (THE FORM OF WHICH MAY BE OBTAINED FROM THE TRUSTEE) MUST BE DELIVERED TO THE TRUSTEE. PRIOR TO THE REGISTRATION OF ANY TRANSFER IN
ACCORDANCE WITH (F) ABOVE, KRAFT FOODS GROUP, INC. RESERVES THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE
IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY RULE 144 EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

Each Definitive Note shall bear the following additional legend (“Definitive Notes Legend”): 

IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE SECURITY REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER
INFORMATION AS SUCH SECURITY REGISTRAR AND TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 
 Each Global Note shall bear the following additional legend (“Global Notes Legend”): 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & 

  
 A-6

 
CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR
THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

Each Note shall bear the following additional legend (“ERISA Legend”): 

BY ITS ACQUISITION OF THIS SECURITY OR ANY INTEREST HEREIN, THE HOLDER THEREOF WILL BE DEEMED TO HAVE REPRESENTED AND WARRANTED THAT
EITHER (1) NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO ACQUIRE OR HOLD THIS SECURITY CONSTITUTES THE ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”), OF A PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR PROVISIONS UNDER ANY OTHER FEDERAL, STATE, LOCAL,
NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAWS”), OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY SUCH PLAN, ACCOUNT OR
ARRANGEMENT, OR (2) THE ACQUISITION AND HOLDING OF THIS SECURITY OR ANY INTEREST HEREIN WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A SIMILAR VIOLATION UNDER ANY APPLICABLE
SIMILAR LAWS. 
 (ii) Upon any sale or transfer of a Transfer Restricted Note that is a Definitive Note, the
Security Registrar shall permit the Holder thereof to exchange such Transfer Restricted Note for a Definitive Note that does not bear the Restricted Notes Legend and the Definitive Notes Legend and rescind any restriction on the transfer of such
Transfer Restricted Note if the Holder certifies in writing to the Security Registrar that its request for such exchange is in respect of a transfer made in reliance on Rule 144 (such certification to be in the form set forth on the reverse
side of the Form of Note in Exhibit A to the Supplemental Indenture) and provides such legal opinions, certifications and other information as the Company or the Trustee may reasonably request. 

(iii) After a transfer of any Initial Notes or Additional Notes during the period of the effectiveness of a Shelf
Registration Statement (as defined in the Registration Rights Agreement) with respect to such Initial Notes or Additional Notes, as the case may be, all requirements pertaining to the Restricted Notes Legend on such Initial Notes or Additional Notes
shall cease to apply and the requirements that any such Initial Notes or Additional Notes be issued in global form shall continue to apply. 
 (iv) Upon the consummation of an Exchange Offer with respect to the Initial Notes or Additional Notes pursuant to which Holders of such Initial Notes or Additional Notes are offered Exchange Notes in
exchange for their Initial Notes or Additional Notes, all requirements pertaining to Initial Notes or Additional Notes that Initial Notes or Additional Notes be issued in global form shall continue to apply, and Exchange Notes in global form without
the Restricted Notes Legend shall be available to Holders that exchange such Initial Notes or Additional Notes in such Exchange Offer. 
 (v) Any Additional Notes sold in a registered offering shall not be required to bear the Restricted Notes Legend. 

  
 A-7

 (f) Cancellation or Adjustment of Global Note. At such time as all beneficial
interests in a Global Note have either been exchanged for Definitive Notes, transferred in exchange for an interest in another Global Note, redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for
cancellation or retained and canceled by the Trustee. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Definitive Notes, transferred in exchange for an interest in another Global Note, redeemed,
repurchased or canceled, the principal amount of Notes represented by such Global Note shall be reduced and an adjustment shall be made on the books and records of the Trustee (if it is then the Custodian for such Global Note) with respect to such
Global Note, by the Trustee or the Custodian, to reflect such reduction. 
 (g) Obligations with Respect to Transfers
and Exchanges of Notes. 
 (i) To permit registrations of transfers and exchanges, the Company shall
execute and the Trustee shall authenticate, Definitive Notes and Global Notes at the Security Registrar’s request. 
 (ii) No service charge shall be made for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax, assessments, or similar governmental
charge payable in connection therewith (other than any such transfer taxes, assessments or similar governmental charge payable upon exchanges pursuant to Sections 304, 305, 306, 906 and 1107 of the Base Indenture). 

(iii) Prior to the due presentation for registration of transfer of any Note, the Company, the Trustee, the Paying Agent
or the Security Registrar may deem and treat the person in whose name a Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal, premium, if any, and interest on such Note and for all other purposes
whatsoever, whether or not such Note is overdue, and none of the Company, the Trustee, the Paying Agent or the Security Registrar shall be affected by notice to the contrary. 

(iv) All Notes issued upon any transfer or exchange pursuant to the terms of this Indenture shall evidence the same
debt and shall be entitled to the same benefits under this Indenture as the Notes surrendered upon such transfer or exchange. 
 (v) In order to effect any transfer or exchange of an interest in any Transfer Restricted Note for an interest in a Note that does not bear the Restricted Notes Legend and has not been registered
under the Securities Act, if the Security Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel, in form reasonably acceptable to the Security Registrar to the effect that no registration under the Securities Act is
required in respect of such exchange or transfer or the re-sale of such interest by the beneficial holder thereof, shall be required to be delivered to the Security Registrar and the Trustee. 

(h) No Obligation of the Trustee. 
 (i) The Trustee shall have no responsibility or obligation to any beneficial owner of a Global Note, a member of, or a participant in the Depositary or any other Person with respect to the accuracy
of the records of the Depositary or its nominee or of any participant or member thereof, with respect to any ownership interest in the Notes or with respect to the delivery to any participant, member, beneficial owner or other Person (other than the
Depositary) of any notice (including any notice of redemption or repurchase) or the payment of any amount, under or with respect to such Notes. All notices and communications to be given to the Holders and all payments to be made to Holders under
the Notes shall be given or made only to the registered Holders (which shall be the Depositary or its nominee in the case of a Global Note). The rights of beneficial owners in any Global Note shall be exercised only through the Depositary subject to
the applicable rules and procedures of the Depositary. The Trustee may conclusively rely and shall be fully protected in conclusively relying upon information furnished by the Depositary with respect to its members, participants and any beneficial
owners. 
 (ii) The Trustee shall have no obligation or duty to monitor, determine or inquire as to
compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among Depositary participants,

  
 A-8

 
members or beneficial owners in any Global Note) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when
expressly required by, the terms of this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 
 (iii) Neither the Trustee nor any Agent shall have any responsibility or liability for any actions taken or not taken by the Depositary. 

(i) Exchange Offer. Upon the occurrence of the Exchange Offer in accordance with the Registration Rights Agreement, the Company
shall issue and, upon receipt of a Company Order in accordance with Section 303 of the Base Indenture, the Trustee shall authenticate (i) one or more Global Notes without the Restricted Notes Legend in an aggregate principal amount equal
to the principal amounts of the beneficial interests in the Global Notes tendered for acceptance by Persons that provide in the applicable letters of transmittal such certifications as are required by the Registration Rights Agreement and applicable
law, and accepted for exchange in the Exchange Offer and (ii) Definitive Notes without the Restricted Notes Legend in an aggregate principal amount equal to the principal amount of the Definitive Notes tendered for acceptance by Persons that
provide in the applicable letters of transmittal such certification as are required by the Registration Rights Agreement and applicable law, and accepted for exchange in the Exchange Offer. Concurrently with the issuance of such Notes, the Trustee
shall cause the aggregate principal amount of the applicable Global Notes with the Restricted Notes Legend to be reduced accordingly, and the Company shall execute and the Trustee shall authenticate and mail to the Persons designated by the Holders
of the Definitive Notes so accepted Definitive Notes without the Restricted Notes Legend in the applicable principal amount. Any Notes that remain outstanding after the consummation of the Exchange Offer, and Exchange Notes issued in connection with
the Exchange Offer, shall be treated as a single class of securities under this Indenture. 
 Section 2.3 Definitive Notes.

 (a) A Global Note deposited with the Depositary or with the Trustee as Custodian pursuant to Section 2.1 or issued
in connection with an Exchange Offer may be transferred to the beneficial owners thereof in the form of Definitive Notes in an aggregate principal amount equal to the principal amount of such Global Note, in exchange for such Global Note, only if
such transfer complies with Section 2.2 of this Appendix A and (i) the Depositary notifies the Company that it is unwilling or unable to continue as a Depositary for such Global Note or if at any time the Depositary ceases to be a
“clearing agency” registered under the Exchange Act and, in each case, a successor depositary is not appointed by the Company within 90 days of such notice or after the Company becomes aware of such cessation, or (ii) an Event of
Default has occurred and is continuing and the Security Registrar has received a request from the Depository. In addition, any Affiliate of the Company or any Guarantor that is a beneficial owner of all or part of a Global Note may have such
Affiliate’s beneficial interest transferred to such Affiliate in the form of a Definitive Note by providing a written request to the Company and the Trustee and such Opinions of Counsel, certificates or other information as may be required by
this Indenture or the Company or Trustee. 
 (b) Any Global Note that is transferable to the beneficial owners thereof
pursuant to this Section 2.3 shall be surrendered by the Depositary to the Trustee, to be so transferred, in whole or from time to time in part, without charge, and the Trustee shall authenticate and deliver, upon such transfer of each portion
of such Global Note, an equal aggregate principal amount of Definitive Notes of authorized denominations. Any portion of a Global Note transferred pursuant to this Section 2.3 shall be executed, authenticated and delivered only in denominations
of $2,000 and integral multiples of $1,000 in excess thereof and registered in such names as the Depositary shall direct. Any Definitive Note delivered in exchange for an interest in a Global Note that is a Transfer Restricted Note shall, except as
otherwise provided by Section 2.2(e) of this Appendix A, bear the Restricted Notes Legend. 
 (c) The registered Holder
of a Global Note may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Notes.

 (d) In the event of the occurrence of any of the events specified in Section 2.3(a) of this Appendix A, the Company
shall promptly make available to the Trustee a reasonable supply of Definitive Notes in fully registered form without interest coupons. 

  
 A-9

 Exhibit A-1 

Form of Note representing the 2018 Notes 
 No. [RA-•] 
 KRAFT FOODS GROUP, INC. 

6.125% NOTE DUE 2018 
 representing 
 $[•] 
 CUSIP No. [•] 
 [RESTRICTED NOTES ONLY][THIS NOTE HAS NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED 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 

(A) 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, OR 
 (B) IT IS NOT A U.S. PERSON (WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT) AND 
 (2) AGREES FOR THE BENEFIT OF KRAFT FOODS GROUP, INC. THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS NOTE OR ANY BENEFICIAL INTEREST HEREIN, EXCEPT IN ACCORDANCE WITH THE SECURITIES ACT
AND ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND ONLY 
 (A) TO KRAFT FOODS GROUP, INC.,

 (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, 

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

(D) IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, 

(E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR
(7) UNDER THE SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF SECURITIES OF
$250,000, OR 
 (F) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR
ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

 PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH (2)(C) ABOVE OR
(2)(D) ABOVE, A DULY COMPLETED AND SIGNED CERTIFICATE (THE FORM OF WHICH MAY BE OBTAINED FROM THE TRUSTEE) MUST BE DELIVERED TO THE TRUSTEE. PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH (F) ABOVE, KRAFT FOODS GROUP, INC.
RESERVES THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE
STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY RULE 144 EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.] 
 [GLOBAL NOTES ONLY][UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, 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 SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT
NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE
REFERRED TO ON THE REVERSE HEREOF.] 
 BY ITS ACQUISITION OF THIS SECURITY OR ANY INTEREST HEREIN, THE HOLDER THEREOF WILL BE
DEEMED TO HAVE REPRESENTED AND WARRANTED THAT EITHER (1) NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO ACQUIRE OR HOLD THIS SECURITY OR ANY INTEREST HEREIN CONSTITUTES THE ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE
U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OF A PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE
“CODE”) OR PROVISIONS UNDER ANY OTHER FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAWS”), OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED
TO INCLUDE “PLAN ASSETS” OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT, OR (2) THE ACQUISITION AND HOLDING OF THIS SECURITY OR ANY INTEREST HEREIN WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR
SECTION 4975 OF THE CODE OR A SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS. 
 KRAFT FOODS GROUP, INC., a Virginia
corporation (hereinafter called the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to [Original Definitive Note: Kraft Foods
Inc.][Global Notes: Cede & Co.] or registered assigns, the principal sum of $[•] [in the case of a Global Note: (or such other amount as may be reflected on the schedule of exchanges of interest in the global note
attached hereto)] on August 23, 2018, and to pay interest thereon from July 18, 2012 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semiannually on February 23 and August 23,
in each year, commencing August 23, 2012, at the rate of 6.125% per annum until the principal hereof is paid or made available for payment. 
 The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Note (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be February 8 or August 8 (whether or not a Business Day), as the case may be, next preceding such Interest Payment
Date. Any such interest 

  
 - 2 -

 
not so punctually paid or duly provided for shall forthwith cease to be payable to the Holders on such Regular Record Date and may be paid to the Person in whose name this Note (or one or more
Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee for the Notes, notice whereof shall be given to Holders of Notes not less than 10 days
prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange,
all as more fully provided in said Indenture. 
 Payment of the principal of and interest on this Note will be made at the
office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private
debts; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear on the Securities Register or by wire transfer to an
account maintained by the payee at a bank located in the United States. All payments of principal and interest in respect of this Note will be made by the Company in immediately available funds. 

Additional provisions of this Note are contained on the reverse hereof, and such provisions shall have the same effect as though fully
set forth in this place. 
 Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee for
the Notes by manual signature, this Note shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose. 
 Signature Page Follows 

  
 - 3 -

 IN WITNESS WHEREOF, KRAFT FOODS GROUP, INC. has caused this instrument to be duly executed
under its corporate seal. 
  

			
	KRAFT FOODS GROUP, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	Attest:
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 - 4 -

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein described in the within-mentioned Indenture. 

Dated: [•]. 
  

			
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 - 5 -

 (Reverse of Note) 
 KRAFT FOODS GROUP, INC. 
 This Note is one of a duly authorized issue of
debentures, notes or other evidences of indebtedness (hereinafter called the “Securities”) of the Company of the series hereinafter specified, which series is limited in aggregate principal amount to $1,034,657,000 (except as provided in
the Indenture hereinafter mentioned), all such Securities issued and to be issued under an Indenture dated as of June 4, 2012 between the Company and Deutsche Bank Trust Company Americas, as Trustee (the “Base Indenture”), as
supplemented by Supplemental Indenture No. 2, dated as of July 18, 2012, among the Company, Kraft Foods Inc. (the “Guarantor”) and the Trustee (the “Supplemental Indenture” and together with the Base Indenture, herein
called the “Indenture”), to which Indenture and all other indentures supplemental thereto reference is hereby made for a statement of the rights and limitations of rights thereunder of the Holders of the Securities and of the rights,
obligations, duties and immunities of the Trustee for each series of Securities and of the Company, and the terms upon which the Securities are and are to be authenticated and delivered. As provided in the Indenture, the Securities may be issued in
one or more series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest, if any, at different rates, may be subject to different redemption provisions, if any, may be subject
to different sinking, purchase or analogous funds, if any, may be subject to different covenants and Events of Default and may otherwise vary as in the Indenture provided or permitted. This Note is one of a series of the Securities designated
therein as 6.125% Notes due 2018 (the “Notes”). 
 The Company may, without the consent of the Holders of the Notes,
issue additional Notes having the same ranking and the same interest rate, maturity and other terms as the Notes, except for the issue price, issue date and, in some cases, the first payment of interest or interest accruing prior to the issue date
of such additional Notes. Any additional Notes having such similar terms, together with the Notes, shall constitute a single series of notes under the Indenture. No additional Notes may be issued if an Event of Default has occurred with respect to
the Notes. 
 Guarantee 
 Pursuant to Article Fourteen of the Base Indenture, the Guarantor hereby agrees that it shall provide a Guarantee on a senior unsecured basis of the Company’s obligations under the Indenture with
respect to the Notes. The Guarantor shall be automatically and unconditionally released and discharged from all obligations under the Indenture and the Guarantee without any action required on the part of the Trustee or any Holder pursuant to
Section 3.02 of the Supplemental Indenture. 
 Change of Control 

If a Change of Control Triggering Event (as defined below) occurs, unless the Company has exercised its right to redeem the Notes, Holders
may require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of their Notes pursuant to an offer (the “Change of Control Offer”) of payment in cash equal to 101% of the
aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased, to the date of purchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event,
the Company will mail a notice to Holders describing the transaction or transactions that constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in the notice, which date will be no earlier than
30 days and no later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”), pursuant to the procedures described in such notice. The Company must comply with the requirements of Rule 14e-1 under the
Securities Exchange Act of 1934 (the “Exchange Act”) and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of
Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control provisions of the Notes, the Company will comply with the applicable securities laws and regulations and will not
be deemed to have breached its obligations under the Change of Control provisions of the Notes by virtue of such conflicts. 

  
 - 6 -

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

 

	 	•	 	 accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; 

 

	 	•	 	 deposit with the paying agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly tendered; and

  

	 	•	 	 deliver or cause to be delivered to the Trustee the Notes properly accepted together with an officers’ certificate stating the aggregate principal
amount of Notes or portions of Notes being purchased. 

 The paying agent will promptly mail to each Holder of
notes properly tendered the purchase price for the Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Note equal in principal amount to any unpurchased portion of any Notes
surrendered; provided that each new Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. 
 The Company will not be required to make an offer to repurchase the Notes upon a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in
compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not withdrawn under its offer. 
 For purposes of the foregoing discussion of a repurchase at the option of Holders, the following definitions are applicable: 

“Below Investment Grade Rating Event” means the Notes are rated below an Investment Grade Rating by each of the
Rating Agencies (as defined below) on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control (which
60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a below investment grade rating event otherwise arising by
virtue of a particular reduction in rating shall not be deemed to have occurred in respect to a particular Change of Control (and thus shall not be deemed a below investment grade rating event for purposes of the definition of Change of Control
Triggering Event hereunder) if the rating agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee in writing at its request that the reduction was the result,
in whole or in part, of any event or circumstance comprising or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the below investment grade
rating event). 
 “Change of Control” means the occurrence of any of the following: (1) the direct
or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its subsidiaries taken
as a whole to any Person or group of related persons for purposes of Section 13(d) of the Exchange Act (a “Group”) other than the Company or one of its subsidiaries, and other than the Internal Reorganization; (2) the approval by
the holders of the Company’s common stock of any plan or proposal for the liquidation or dissolution of the Company (whether or not otherwise in compliance with the provisions of the indenture); (3) the consummation of any transaction
(including, without limitation, any merger or consolidation) the result of which is that any Person or Group becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of the Company’s voting
stock; or (4) the first day on which a majority of the members of the Company’s Board of Directors are not Continuing Directors. 
 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event. 

“Continuing Directors” means, as of any date of determination, any member of the Board of Directors of the
Company who (1) was a member of such Board of Directors on the date of the issuance of the Notes; or (2) was nominated for election or elected to such Board of Directors with the approval of a

  
 - 7 -

 
majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election (either by a specific vote or by approval of the Company’s proxy
statement in which such member was named as a nominee for election as a director, without objection to such nomination). 
 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, respectively. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Person” has the meaning set forth in the indenture and includes a “person” as used in
Section 13(d)(3) of the Exchange Act. 
 “Rating Agencies” means (1) each of Moody’s and
S&P and (2) if any of Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating
organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Company (as certified by a resolution of the Company’s Board of Directors) as a replacement agency for Moody’s or S&P, or both of
them, as the case may be. 
 “S&P” means Standard & Poor’s Ratings Services, a
division of The McGraw-Hill Companies, Inc. 
 Payment of Additional Amounts 

Section 1010 of the Base Indenture shall be applicable to the Notes, except that the term “Holder,” when used in
Section 1010 of the Base Indenture, shall mean the beneficial owner of a Note or any person holding on behalf or for the account of the beneficial owner of a Note. 
 Redemption for Tax Reasons 
 The Company may redeem the Notes prior to
maturity in whole, but not in part, on not more than 60 days’ notice and not less than 30 days’ notice at a redemption price equal to the principal amount of such Notes plus any accrued interest and additional amounts to the date fixed for
redemption if: 
  

	 	•	 	 as a result of a change in or amendment to the tax laws, regulations or rulings of the United States or any political subdivision or taxing authority
of or in the United States or any change in official position regarding the application or interpretation of such laws, regulations or rulings (including a holding by a court of competent jurisdiction in the United States) that is announced or
becomes effective on or after July 18, 2012, the Company has or will become obligated to pay additional amounts with respect to such series of Notes as described in Section 1010 of the Base Indenture, or 

 

	 	•	 	 on or after July 18, 2012, any action is taken by a taxing authority of, or any decision has been rendered by a court of competent jurisdiction
in, the United States or any political subdivision of or in the United States, including any of those actions specified above, whether or not such action was taken or decision was rendered with respect to the Company, or any change, amendment,
application or interpretation is officially proposed, which, in any such case, in the written opinion of independent legal counsel of recognized standing, will result in a material probability that the Company will become obligated to pay additional
amounts with respect to such series of Notes, and the Company, in its business judgment, determines that such obligations cannot be avoided by the use of reasonable measures available to the Company. 

If the Company exercises its option to redeem the Notes, the Company will deliver to the Trustee a certificate signed by an authorized
officer stating that it is entitled to redeem the Notes and an opinion of independent tax counsel to the effect that the circumstances described in the above bullets exist. 

  
 - 8 -

 Payment of Additional Interest 

The Company shall pay all Additional Interest, if any, in the same manner and on the same dates as interest at the rate stated herein and
in the amounts set forth in the Registration Rights Agreement. 
 For purposes of the foregoing discussion of additional
interest, the following definitions are applicable: 
 “Additional Interest” means all interest payable
as a consequence of the failure to effectuate in a timely manner the Exchange Offer and/or shelf registration procedures set for in the Registration Rights Agreement. 

“Registration Rights Agreement” means (i) the registration rights agreement, dated as of July 18, 2012
among the Company, the Guarantor, and the dealer managers party thereto and (ii) with respect to any additional Notes, one or more substantially similar registration rights agreements among the Company and the other parties thereto, as such
agreements may be amended from time to time. 
 Reports 
 For so long as any Notes are outstanding, the Company will furnish to Holders and prospective purchasers of the Notes, upon their request, the information required to be delivered pursuant to Rule
144A(d)(4) under the Securities Act of 1933, as amended (the “Securities Act”). The requirements set forth in this paragraph may be satisfied by delivering such information to the Trustee and posting copies of such information on a website
(which may be nonpublic and may be maintained by the Company or a third party, provided, that the Trustee will have no responsibility to determine if such posting has occurred) to which access will be given to Holders and prospective
purchasers of the Notes (which prospective purchasers will be limited to “qualified institutional buyers” within the meaning of Rule 144A of the Securities Act or non-U.S. persons (as defined in Regulation S under the Securities Act) that
certify their status as such to the reasonable satisfaction of the Company. 
 Defeasance 

The Indenture contains provisions for defeasance at any time of the entire principal of all the Securities of any series upon compliance
by the Company with certain conditions set forth therein. 
 Certain of the Company’s obligations under the Indenture with
respect to Notes, may be terminated if the Company irrevocably deposits with the Trustee money or Government Obligations sufficient to pay and discharge the entire indebtedness on a the Indenture. 

Events of Default 
 If an
Event of Default (other than an Event of Default described in Section 501(4) or 501(5) of the Base Indenture) with respect to the Notes shall occur and be continuing, then either the Trustee or the Holders of not less than 25% in principal
amount of the Notes of this series then Outstanding may declare the entire principal amount of the Notes of this series due and payable in the manner and with effect provided in the Indenture. If an Event of Default specified in Section 501(4)
or 501(5) of the Base Indenture occurs with respect to the Company, all of the unpaid principal amount and accrued interest then outstanding shall ipso facto become and be immediately due and payable in the manner and with the effect provided
in the Indenture without any declaration or other act by the Trustee or any Holder. 
 Amendments 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Securities under the Indenture at any time by the Company with the consent of the Holders of more than 50% in aggregate principal amount of the Securities at the time Outstanding of
each series issued under the Indenture to be affected thereby. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal 

  
 - 9 -

 
amount of the Securities of that series at the time Outstanding, on behalf of the Holders of all the Securities of such series, to waive compliance by the Company with certain provisions of the
Indenture and certain past defaults under the Indenture and their consequences with respect to such series. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this
Note and of any Note issued upon the transfer hereof or in exchange or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. 
 Payment 
 No reference herein to the Indenture and no provision of this Note
or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein and in the Indenture
prescribed. 
 Transfer, Registration and Exchange 
 As provided in the Indenture and subject to certain limitations therein set forth, this Note is transferable on the Security Register of the Company, upon surrender of this Note for registration of
transfer at the office or agency of the Company to be maintained for that purpose in the Borough of Manhattan, The City of New York, or at any other office or agency of the Company maintained for that purpose, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder hereof or his attorney duly authorized in writing, and thereupon due or one or more new notes, of authorized denominations and
for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The Notes are issuable
only in registered form without coupons in denominations of $2,000 and any multiple of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate principal
amount of Notes of a like tenor and of a different authorized denomination, as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 The Company, the Trustee for the
Notes and any agent of the Company or such Trustee may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment as herein provided and for all other purposes, whether or not this Note be
overdue, and neither the Company, such Trustee nor any such agent shall be affected by notice to the contrary. 
 The Notes are
not subject to a sinking fund. 
 This Note shall for all purposes be governed by, and construed in accordance with, the laws
of the State of New York. 
 Certain terms used in this Note which are defined in the Indenture have the meanings set forth
therein. 

  
 - 10 -

 ASSIGNMENT FORM 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto: 
 PLEASE INSERT
SOCIAL SECURITY NUMBER OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 
  
  

(Name and address of Assignee, including zip code, must be printed or typewritten) 

 
  
  

 
 the within Note, and all rights thereunder,
hereby irrevocably, constituting and appointing 
  
  

to transfer the said Note on the books of Kraft Foods Group, Inc. with full power of substitution in the premises. 

 

			
	Dated:                      	  	  

		  	NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Note in every particular, without alteration or enlargement or any
change whatever.

  
 - 11 -

 CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR 

REGISTRATION OF TRANSFERS OF TRANSFER RESTRICTED NOTES1 
 This certificate relates to $            principal amount of Notes held in (check applicable space)
            book-entry or              definitive form by the undersigned. 

The undersigned (check one box below): 
 has requested the Trustee by written order to deliver in exchange for its beneficial interest in a Global Note held by the Depositary a Note or Notes in definitive, registered form of authorized
denominations and an aggregate principal amount equal to its beneficial interest in such Global Note (or the portion thereof indicated above) in accordance with the Indenture; or 

has requested the Trustee by written order to exchange or register the transfer of a Note or Notes. 

In connection with any transfer of any of the Notes evidenced by this certificate, the undersigned confirms that such Notes are being
transferred in accordance with its terms: 
 CHECK ONE BOX BELOW 

 

	 	(1)	to the Company or subsidiary thereof; or 

  

	 	(2)	to the Registrar for registration in the name of the Holder, without transfer; or 

 

	 	(3)	pursuant to an effective registration statement under the Securities Act of 1933, as amended (the “Securities Act”); or 

 

	 	(4)	to a Person that the undersigned reasonably believes is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act
(“Rule 144A”)) that purchases for its own account or for the account of a qualified institutional buyer and to whom notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in
compliance with Rule 144A; or 

  

	 	(5)	pursuant to offers and sales to non-U.S. persons that occur outside the United States of America within the meaning of Regulation S under the Securities Act (and if the
transfer is being made prior to the expiration of the Distribution Compliance Period, the Notes shall be held immediately thereafter through Euroclear or Clearstream); or 

 

	 	(6)	to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act) that has furnished to the Trustee
a signed letter in the form provided on the reverse side of such Notes; or 

  

	 	(7)	pursuant to Rule 144 under the Securities Act; or 

  

	 	(8)	pursuant to another available exemption from registration under the Securities Act. 

 

	1 	 This certificate shall not be included as part of the Original Definitive Notes. 

  
 - 12 -

 Unless one of the boxes is checked, the Trustee will refuse to register any of the Notes
evidenced by this certificate in the name of any Person other than the registered Holder thereof; provided, however, that if box (7) or (8) is checked, the Company or the Trustee may require, prior to registering any
such transfer of the Notes, such legal opinions, certifications and other information as the Company or the Trustee has reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject
to, the registration requirements of the Securities Act. 
  

							
		 		 	 
		 		 	Your Signature
			
	
Date:                       
                          
	 		 	 
		 		 	 Signature of Signature
 Guarantor

 TO BE COMPLETED BY PURCHASER IF (4) ABOVE IS CHECKED. 

The undersigned represents and warrants that it is purchasing this Note for its own account or an account with respect to which it
exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges
that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the undersigned’s
foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
  

							
	Dated:                            
                     	 		 	 
		 		 	NOTICE:	 	 To be executed by
 an executive
officer

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature
Guarantee*:                                       
                                         
   
  

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

  
 - 13 -

 TO BE COMPLETED IF THE HOLDER REQUIRES AN EXCHANGE FROM A 

REGULATION S GLOBAL NOTE TO AN UNRESTRICTED GLOBAL NOTE, 

PURSUANT TO SECTION 2.2(d)(iii) OF APPENDIX A TO THE INDENTURE2 

The undersigned represents and warrants that either: 
 the undersigned is not a dealer (as defined in the Securities Act) and is a non-U.S. person (within the meaning of Regulation S under the Securities Act); or 

the undersigned is not a dealer (as defined in the Securities Act) and is a U.S. person (within the meaning of Regulation S under the
Securities Act) who purchased interests in the Notes pursuant to an exemption from, or in a transaction not subject to, the registration requirements under the Securities Act; or 

the undersigned is a dealer (as defined in the Securities Act) and the interest of the undersigned in this Note does not constitute the
whole or a part of an unsold allotment to or subscription by such dealer for the Notes. 
  

							
	Dated:                            
                         	 		 	 
		 		 	Your Signature

  

	2 	 Include only for Regulation S Global Notes. 

  
 - 14 -

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have all or part of this Note purchased by the Company pursuant to Change of Control, state the amount you elect
to have purchased: 
  

					
			
	$                        	 		 	 (integral multiples of $1,000, 
 provided that the unpurchased
 portion must be in a minimum

principal amount of $2,000)

Date:                     
             
  

					
	Your Signature:	 	 
		 		 	(Sign exactly as your name appears on the face of this Note)
	Tax Identification No.:	 	 

 Signature
Guarantee*:                                       
                                         
                               

 

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

  
 - 15 -

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE* 

The initial outstanding principal amount of this Global Note is
$            . The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or
Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease
in Principal Amount of this
Global Note	  	Amount of
increase
in Principal
Amount of
this
Global Note	  	Principal
Amount of
this Global
Note
following
such
decrease or
increase	  	Signature of authorized
signatory of Trustee,
Depositary or
Custodian

 
  

	*	This schedule should be included only if the Note is issued in global form. 

  
 - 16 -

 FORM OF 

TRANSFEREE LETTER OF REPRESENTATION3 
 Kraft Foods
Group, Inc. 
 Three Lakes Drive 

Northfield, IL 60093 
 Fax No.:
(847) 646-3173 
 Email: Darin.Aprati@kraftfoods.com 
 Attention: Treasurer 
 Ladies and Gentlemen: 

This certificate is delivered to request a transfer of $[            ]
principal amount of the 6.125% Senior Notes due 2018 (the “Notes”) of Kraft Foods Group, Inc. (the “Company”). 
 Upon transfer, the Notes would be registered in the name of the new beneficial owner as follows: 
 Name:                                
                              

Address:                     
                                     

Taxpayer ID
Number:                                     

The undersigned represents and warrants to you that: 
 1. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933, as amended (the “Securities Act”)),
purchasing for our own account or for the account of such an institutional “accredited investor” at least $250,000 principal amount of the Notes, and we are acquiring the Notes, for investment purposes and not with a view to, or for offer
or sale in connection with, any distribution in violation of the Securities Act. We have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our investment in the Notes, and we
invest in or purchase securities similar to the Notes in the normal course of our business. We, and any accounts for which we are acting, are each able to bear the economic risk of our or its investment. 

2. We understand that the Notes have not been registered under the Securities Act and, unless so registered, may not be sold except as
permitted in the following sentence. We agree on our own behalf and on behalf of any investor account for which we are purchasing Notes to offer, sell or otherwise transfer such Notes prior to the date that is one year after the later of the date of
original issue and the last date on which the Company or any affiliate of the Company was the owner of such Notes (or any predecessor thereto) (the “Resale Restriction Termination Date”) only in accordance with the Restricted Notes
Legend (as such term is defined in the supplemental indenture under which the Notes were issued) on the Notes and any applicable securities laws of any state of the United States of America. The foregoing restrictions on resale will not apply
subsequent to the Resale Restriction Termination Date. If any resale or other transfer of the Notes is proposed to be made pursuant to clause 2.2(d)(ii) of Appendix A to the supplemental indenture under which the Notes were issued prior to the
Resale Restriction Termination Date, the transferor shall deliver a letter from the transferee substantially in the form of this letter to the Company and the Trustee, which shall provide, among other things, that the transferee is an institutional
“accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and that it is acquiring such Notes for investment purposes and not for distribution in violation of the Securities Act.
Each purchaser acknowledges that the Company and the Trustee reserve the right prior to the offer, sale or other transfer prior to the Resale Restriction Termination Date of the Notes with respect to applicable transfers described in the Restricted
Notes Legend to require the delivery of an opinion of counsel, certifications and/or other information satisfactory to the Company and the Trustee. 
  

 

	3 	 This certificate shall not be included as part of the Original Definitive Notes. 

  
 - 17 -

TRANSFEREE:                 
                                         
       , 

by:                   
                                         
                          

  
 - 18 -

 Exhibit A-2 

Form of Note representing the 2020 Notes 
 No. [RA-•] 
 KRAFT FOODS GROUP, INC. 

5.375% NOTE DUE 2020 
 representing 
 $[•] 
 CUSIP No. [•] 
 [RESTRICTED NOTES ONLY][THIS NOTE HAS NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED 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 

(A) 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, OR 
 (B) IT IS NOT A U.S. PERSON (WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT) AND 
 (2) AGREES FOR THE BENEFIT OF KRAFT FOODS GROUP, INC. THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS NOTE OR ANY BENEFICIAL INTEREST HEREIN, EXCEPT IN ACCORDANCE WITH THE SECURITIES ACT
AND ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND ONLY 
 (A) TO KRAFT FOODS GROUP, INC.,

 (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, 

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

(D) IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, 

(E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR
(7) UNDER THE SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF SECURITIES OF
$250,000, OR 
 (F) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR
ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

 PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH
(2)(C) ABOVE OR (2)(D) ABOVE, A DULY COMPLETED AND SIGNED CERTIFICATE (THE FORM OF WHICH MAY BE OBTAINED FROM THE TRUSTEE) MUST BE DELIVERED TO THE TRUSTEE. PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH (F) ABOVE, KRAFT
FOODS GROUP, INC. RESERVES THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT
AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY RULE 144 EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.] 

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

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR
TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.]

 BY ITS ACQUISITION OF THIS SECURITY OR ANY INTEREST HEREIN, THE HOLDER THEREOF WILL BE DEEMED TO HAVE
REPRESENTED AND WARRANTED THAT EITHER (1) NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO ACQUIRE OR HOLD THIS SECURITY OR ANY INTEREST HEREIN CONSTITUTES THE ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S. EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OF A PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR
PROVISIONS UNDER ANY OTHER FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAWS”), OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN
ASSETS” OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT, OR (2) THE ACQUISITION AND HOLDING OF THIS SECURITY OR ANY INTEREST HEREIN WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR
A SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS. 
 KRAFT FOODS GROUP, INC., a Virginia corporation
(hereinafter called the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to [Original Definitive Note: Kraft Foods Inc.][Global
Notes: Cede & Co.] or registered assigns, the principal sum of $[•] [in the case of a Global Note: (or such other amount as may be reflected on the schedule of exchanges of interest in the global note attached hereto)] on
February 10, 2020, and to pay interest thereon from July 18, 2012 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semiannually on February 10 and August 10, in each year,
commencing August 10, 2012, at the rate of 5.375% per annum until the principal hereof is paid or made available for payment. 
 The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Note (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be January 26 or July 26 (whether or not a Business Day), as the case may be, next preceding such Interest Payment
Date. Any such interest 

  
 - 2 -

 
not so punctually paid or duly provided for shall forthwith cease to be payable to the Holders on such Regular Record Date and may be paid to the Person in whose name this Note (or one or more
Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee for the Notes, notice whereof shall be given to Holders of Notes not less than 10 days
prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange,
all as more fully provided in said Indenture. 
 Payment of the principal of and interest on this Note will be
made at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and
private debts; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear on the Securities Register or by wire
transfer to an account maintained by the payee at a bank located in the United States. All payments of principal and interest in respect of this Note will be made by the Company in immediately available funds. 

Additional provisions of this Note are contained on the reverse hereof, and such provisions shall have the same effect as
though fully set forth in this place. 
 Unless the certificate of authentication hereon has been executed by or
on behalf of the Trustee for the Notes by manual signature, this Note shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose. 
 Signature Page Follows 

  
 - 3 -

 IN WITNESS WHEREOF, KRAFT FOODS GROUP, INC. has caused this instrument to be duly executed
under its corporate seal. 
  

			
	KRAFT FOODS GROUP, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	Attest:
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 - 4 -

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein described in the within-mentioned Indenture. 

Dated: [•]. 
  

			
	 DEUTSCHE BANK TRUST COMPANY
 AMERICAS, as Trustee

		
	By:	 	 
	Name:	 	
	Title:	 	

  
 - 5 -

 (Reverse of Note) 
 KRAFT FOODS GROUP, INC. 
 This Note is one of a duly authorized issue of
debentures, notes or other evidences of indebtedness (hereinafter called the “Securities”) of the Company of the series hereinafter specified, which series is limited in aggregate principal amount to $900,000,000 (except as provided in the
Indenture hereinafter mentioned), all such Securities issued and to be issued under an Indenture dated as of June 4, 2012 between the Company and Deutsche Bank Trust Company Americas, as Trustee (the “Base Indenture”), as supplemented
by Supplemental Indenture No. 2, dated as of July 18, 2012, among the Company, Kraft Foods Inc. (the “Guarantor”) and the Trustee (the “Supplemental Indenture” and together with the Base Indenture, herein called the
“Indenture”), to which Indenture and all other indentures supplemental thereto reference is hereby made for a statement of the rights and limitations of rights thereunder of the Holders of the Securities and of the rights, obligations,
duties and immunities of the Trustee for each series of Securities and of the Company, and the terms upon which the Securities are and are to be authenticated and delivered. As provided in the Indenture, the Securities may be issued in one or more
series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest, if any, at different rates, may be subject to different redemption provisions, if any, may be subject to different
sinking, purchase or analogous funds, if any, may be subject to different covenants and Events of Default and may otherwise vary as in the Indenture provided or permitted. This Note is one of a series of the Securities designated therein as 5.375%
Notes due 2020 (the “Notes”). 
 The Company may, without the consent of the Holders of the Notes, issue additional
Notes having the same ranking and the same interest rate, maturity and other terms as the Notes, except for the issue price, issue date and, in some cases, the first payment of interest or interest accruing prior to the issue date of such additional
Notes. Any additional Notes having such similar terms, together with the Notes, shall constitute a single series of notes under the Indenture. No additional Notes may be issued if an Event of Default has occurred with respect to the Notes.

 Guarantee 

Pursuant to Article Fourteen of the Base Indenture, the Guarantor hereby agrees that it shall provide a Guarantee on a senior unsecured
basis of the Company’s obligations under the Indenture with respect to the Notes. The Guarantor shall be automatically and unconditionally released and discharged from all obligations under the Indenture and the Guarantee without any action
required on the part of the Trustee or any Holder pursuant to Section 3.02 of the Supplemental Indenture. 
 Change of Control

 If a Change of Control Triggering Event (as defined below) occurs, unless the Company has exercised its right to redeem
the Notes, Holders may require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of their Notes pursuant to an offer (the “Change of Control Offer”) of payment in cash equal to
101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased, to the date of purchase (the “Change of Control Payment”). Within 30 days following any Change of Control
Triggering Event, the Company will mail a notice to Holders describing the transaction or transactions that constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in the notice, which date will
be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”), pursuant to the procedures described in such notice. The Company must comply with the requirements of Rule
14e-1 under the Securities Exchange Act of 1934 (the “Exchange Act”) and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a
result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control provisions of the Notes, the Company will comply with the applicable securities laws and
regulations and will not be deemed to have breached its obligations under the Change of Control provisions of the Notes by virtue of such conflicts. 

  
 - 6 -

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

 

	 	•	accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; 

 

	 	•	deposit with the paying agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly tendered; and

  

	 	•	deliver or cause to be delivered to the Trustee the Notes properly accepted together with an officers’ certificate stating the aggregate principal amount of Notes
or portions of Notes being purchased. 

 The paying agent will promptly mail to each Holder of notes properly
tendered the purchase price for the Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Note equal in principal amount to any unpurchased portion of any Notes surrendered;
provided that each new Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. 

The Company will not be required to make an offer to repurchase the Notes upon a Change of Control Triggering Event if a third party
makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not withdrawn under its offer. 

For purposes of the foregoing discussion of a repurchase at the option of Holders, the following definitions are applicable: 

“Below Investment Grade Rating Event” means the Notes are rated below an Investment Grade Rating by each of the
Rating Agencies (as defined below) on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control (which
60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a below investment grade rating event otherwise arising by
virtue of a particular reduction in rating shall not be deemed to have occurred in respect to a particular Change of Control (and thus shall not be deemed a below investment grade rating event for purposes of the definition of Change of Control
Triggering Event hereunder) if the rating agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee in writing at its request that the reduction was the result,
in whole or in part, of any event or circumstance comprising or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the below investment grade
rating event). 
 “Change of Control” means the occurrence of any of the following: (1) the direct
or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its subsidiaries taken
as a whole to any Person or group of related persons for purposes of Section 13(d) of the Exchange Act (a “Group”) other than the Company or one of its subsidiaries, and other than the Internal Reorganization; (2) the approval by
the holders of the Company’s common stock of any plan or proposal for the liquidation or dissolution of the Company (whether or not otherwise in compliance with the provisions of the indenture); (3) the consummation of any transaction
(including, without limitation, any merger or consolidation) the result of which is that any Person or Group becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of the Company’s voting
stock; or (4) the first day on which a majority of the members of the Company’s Board of Directors are not Continuing Directors. 
 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event. 

“Continuing Directors” means, as of any date of determination, any member of the Board of Directors of the
Company who (1) was a member of such Board of Directors on the date of the issuance of the Notes; or (2) was nominated for election or elected to such Board of Directors with the approval of a

  
 - 7 -

 
majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election (either by a specific vote or by approval of the Company’s proxy
statement in which such member was named as a nominee for election as a director, without objection to such nomination). 
 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, respectively. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Person” has the meaning set forth in the indenture and includes a “person” as used in
Section 13(d)(3) of the Exchange Act. 
 “Rating Agencies” means (1) each of Moody’s and
S&P and (2) if any of Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating
organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Company (as certified by a resolution of the Company’s Board of Directors) as a replacement agency for Moody’s or S&P, or both of
them, as the case may be. 
 “S&P” means Standard & Poor’s Ratings Services, a
division of The McGraw-Hill Companies, Inc. 
 Payment of Additional Amounts 

Section 1010 of the Base Indenture shall be applicable to the Notes, except that the term “Holder,” when used in
Section 1010 of the Base Indenture, shall mean the beneficial owner of a Note or any person holding on behalf or for the account of the beneficial owner of a Note. 
 Redemption for Tax Reasons 
 The Company may redeem the Notes prior to
maturity in whole, but not in part, on not more than 60 days’ notice and not less than 30 days’ notice at a redemption price equal to the principal amount of such Notes plus any accrued interest and additional amounts to the date fixed for
redemption if: 
  

	 	•	as a result of a change in or amendment to the tax laws, regulations or rulings of the United States or any political subdivision or taxing authority of or in the
United States or any change in official position regarding the application or interpretation of such laws, regulations or rulings (including a holding by a court of competent jurisdiction in the United States) that is announced or becomes effective
on or after July 18, 2012, the Company has or will become obligated to pay additional amounts with respect to such series of Notes as described in Section 1010 of the Base Indenture, or 

 

	 	•	on or after July 18, 2012, any action is taken by a taxing authority of, or any decision has been rendered by a court of competent jurisdiction in, the United
States or any political subdivision of or in the United States, including any of those actions specified above, whether or not such action was taken or decision was rendered with respect to the Company, or any change, amendment, application or
interpretation is officially proposed, which, in any such case, in the written opinion of independent legal counsel of recognized standing, will result in a material probability that the Company will become obligated to pay additional amounts with
respect to such series of Notes, and the Company, in its business judgment, determines that such obligations cannot be avoided by the use of reasonable measures available to the Company. 

If the Company exercises its option to redeem the Notes, the Company will deliver to the Trustee a certificate signed by an authorized
officer stating that it is entitled to redeem the Notes and an opinion of independent tax counsel to the effect that the circumstances described in the above bullets exist. 

  
 - 8 -

 Payment of Additional Interest 

The Company shall pay all Additional Interest, if any, in the same manner and on the same dates as interest at the rate stated herein and
in the amounts set forth in the Registration Rights Agreement. 
 For purposes of the foregoing discussion of additional
interest, the following definitions are applicable: 
 “Additional Interest” means all interest payable
as a consequence of the failure to effectuate in a timely manner the Exchange Offer and/or shelf registration procedures set for in the Registration Rights Agreement. 

“Registration Rights Agreement” means (i) the registration rights agreement, dated as of July 18, 2012
among the Company, the Guarantor, and the dealer managers party thereto and (ii) with respect to any additional Notes, one or more substantially similar registration rights agreements among the Company and the other parties thereto, as such
agreements may be amended from time to time. 
 Reports 
 For so long as any Notes are outstanding, the Company will furnish to Holders and prospective purchasers of the Notes, upon their request, the information required to be delivered pursuant to Rule
144A(d)(4) under the Securities Act of 1933, as amended (the “Securities Act”). The requirements set forth in this paragraph may be satisfied by delivering such information to the Trustee and posting copies of such information on a website
(which may be nonpublic and may be maintained by the Company or a third party, provided, that the Trustee will have no responsibility to determine if such posting has occurred) to which access will be given to Holders and prospective
purchasers of the Notes (which prospective purchasers will be limited to “qualified institutional buyers” within the meaning of Rule 144A of the Securities Act or non-U.S. persons (as defined in Regulation S under the Securities Act) that
certify their status as such to the reasonable satisfaction of the Company. 
 Defeasance 

The Indenture contains provisions for defeasance at any time of the entire principal of all the Securities of any series upon compliance
by the Company with certain conditions set forth therein. 
 Certain of the Company’s obligations under the Indenture with
respect to Notes, may be terminated if the Company irrevocably deposits with the Trustee money or Government Obligations sufficient to pay and discharge the entire indebtedness on a the Indenture. 

Events of Default 
 If an
Event of Default (other than an Event of Default described in Section 501(4) or 501(5) of the Base Indenture) with respect to the Notes shall occur and be continuing, then either the Trustee or the Holders of not less than 25% in principal
amount of the Notes of this series then Outstanding may declare the entire principal amount of the Notes of this series due and payable in the manner and with effect provided in the Indenture. If an Event of Default specified in Section 501(4)
or 501(5) of the Base Indenture occurs with respect to the Company, all of the unpaid principal amount and accrued interest then outstanding shall ipso facto become and be immediately due and payable in the manner and with the effect provided
in the Indenture without any declaration or other act by the Trustee or any Holder. 
 Amendments 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Securities under the Indenture at any time by the Company with the consent of the Holders of more than 50% in aggregate principal amount of the Securities at the time Outstanding of
each series issued under the Indenture to be affected thereby. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal 

  
 - 9 -

 
amount of the Securities of that series at the time Outstanding, on behalf of the Holders of all the Securities of such series, to waive compliance by the Company with certain provisions of the
Indenture and certain past defaults under the Indenture and their consequences with respect to such series. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this
Note and of any Note issued upon the transfer hereof or in exchange or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. 
 Payment 
 No reference herein to the Indenture and no provision of this Note
or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein and in the Indenture
prescribed. 
 Transfer, Registration and Exchange 
 As provided in the Indenture and subject to certain limitations therein set forth, this Note is transferable on the Security Register of the Company, upon surrender of this Note for registration of
transfer at the office or agency of the Company to be maintained for that purpose in the Borough of Manhattan, The City of New York, or at any other office or agency of the Company maintained for that purpose, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder hereof or his attorney duly authorized in writing, and thereupon due or one or more new notes, of authorized denominations and
for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The Notes are issuable
only in registered form without coupons in denominations of $2,000 and any multiple of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate principal
amount of Notes of a like tenor and of a different authorized denomination, as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 The Company, the Trustee for the
Notes and any agent of the Company or such Trustee may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment as herein provided and for all other purposes, whether or not this Note be
overdue, and neither the Company, such Trustee nor any such agent shall be affected by notice to the contrary. 
 The Notes are
not subject to a sinking fund. 
 This Note shall for all purposes be governed by, and construed in accordance with, the laws
of the State of New York. 
 Certain terms used in this Note which are defined in the Indenture have the meanings set forth
therein. 

  
 - 10 -

 ASSIGNMENT FORM 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto: 
 PLEASE INSERT
SOCIAL SECURITY NUMBER OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 
  
  

(Name and address of Assignee, including zip code, must be printed or typewritten) 

 
  
  

 
 the within Note, and all rights thereunder,
hereby irrevocably, constituting and appointing 
  
  

to transfer the said Note on the books of Kraft Foods Group, Inc. with full power of substitution in the premises. 

 

			
	Dated:                      	  	  

		  	NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Note in every particular, without alteration or enlargement or any
change whatever.

  
 - 11 -

 CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR 

REGISTRATION OF TRANSFERS OF TRANSFER RESTRICTED NOTES1 
 This certificate relates to $                      principal amount of Notes held in (check
applicable space)             book-entry or              definitive form by the undersigned. 

The undersigned (check one box below): 
 has requested the Trustee by written order to deliver in exchange for its beneficial interest in a Global Note held by the Depositary a Note or Notes in definitive, registered form of authorized
denominations and an aggregate principal amount equal to its beneficial interest in such Global Note (or the portion thereof indicated above) in accordance with the Indenture; or 

has requested the Trustee by written order to exchange or register the transfer of a Note or Notes. 

In connection with any transfer of any of the Notes evidenced by this certificate, the undersigned confirms that such Notes are being
transferred in accordance with its terms: 
 CHECK ONE BOX BELOW 

 

	 	(1)	to the Company or subsidiary thereof; or 

  

	 	(2)	to the Registrar for registration in the name of the Holder, without transfer; or 

 

	 	(3)	pursuant to an effective registration statement under the Securities Act of 1933, as amended (the “Securities Act”); or 

 

	 	(4)	to a Person that the undersigned reasonably believes is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act
(“Rule 144A”)) that purchases for its own account or for the account of a qualified institutional buyer and to whom notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in
compliance with Rule 144A; or 

  

	 	(5)	pursuant to offers and sales to non-U.S. persons that occur outside the United States of America within the meaning of Regulation S under the Securities Act (and if the
transfer is being made prior to the expiration of the Distribution Compliance Period, the Notes shall be held immediately thereafter through Euroclear or Clearstream); or 

 

	 	(6)	to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act) that has furnished to the Trustee
a signed letter in the form provided on the reverse side of such Notes; or 

  

	 	(7)	pursuant to Rule 144 under the Securities Act; or 

  

	 	(8)	pursuant to another available exemption from registration under the Securities Act. 

 

	1 	 This certificate shall not be included as part of the Original Definitive Notes. 

  
 - 12 -

 Unless one of the boxes is checked, the Trustee will refuse to register any of the Notes
evidenced by this certificate in the name of any Person other than the registered Holder thereof; provided, however, that if box (7) or (8) is checked, the Company or the Trustee may require, prior to registering any
such transfer of the Notes, such legal opinions, certifications and other information as the Company or the Trustee has reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject
to, the registration requirements of the Securities Act. 
  

			
	 	 	  
 Your
Signature

	
Date:                       
              
	 	
		 	  
 Signature of
Signature
 Guarantor

 TO BE COMPLETED BY PURCHASER IF (4) ABOVE IS CHECKED. 

The undersigned represents and warrants that it is purchasing this Note for its own account or an account with respect to which it
exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges
that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the undersigned’s
foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
  

			
	Dated:                            
         	  	  

		  	 NOTICE:To be executed by

                anexecutive
officer
 Name:

Title:

 Signature Guarantee*:
                                         
                                

 

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

  
 - 13 -

 TO BE COMPLETED IF THE HOLDER REQUIRES AN EXCHANGE FROM A 

REGULATION S GLOBAL NOTE TO AN UNRESTRICTED GLOBAL NOTE, 

PURSUANT TO SECTION 2.2(d)(iii) OF APPENDIX A TO THE INDENTURE2 

The undersigned represents and warrants that either: 
 the undersigned is not a dealer (as defined in the Securities Act) and is a non-U.S. person (within the meaning of Regulation S under the Securities Act); or 

the undersigned is not a dealer (as defined in the Securities Act) and is a U.S. person (within the meaning of Regulation S under the
Securities Act) who purchased interests in the Notes pursuant to an exemption from, or in a transaction not subject to, the registration requirements under the Securities Act; or 

the undersigned is a dealer (as defined in the Securities Act) and the interest of the undersigned in this Note does not constitute the
whole or a part of an unsold allotment to or subscription by such dealer for the Notes. 
  

			
	Dated:                            
                 	 	  

		 	Your Signature

  
  

	2 	 Include only for Regulation S Global Notes. 

  
 - 14 -

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have all or part of this Note purchased by the Company pursuant to Change of Control, state the amount you elect
to have purchased: 
  

					
		  	$                             
                                         
        	  	 (integral multiples of $1,000,

provided that the unpurchased
 portion
must be in a minimum
 principal amount of $2,000)

Date:                     

 

	
	Your Signature:                          
                                         
    
	 (Sign exactly as your name appears on the face of this Note)

	Tax Identification No.:                        
                                 

 Signature
Guarantee*:                                       
                               

 

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

  
 - 15 -

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE* 

The initial outstanding principal amount of this Global Note is
$            . The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or
Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease
in Principal Amount of this
Global Note	  	Amount of increase
in Principal
Amount of this
Global Note	  	Principal Amount of
this Global Note
following such
decrease or increase	  	Signature of authorized
signatory of Trustee,
Depositary or Custodian

 
  

	*	This schedule should be included only if the Note is issued in global form. 

  
 - 16 -

 FORM OF 

TRANSFEREE LETTER OF REPRESENTATION3 
 Kraft Foods
Group, Inc. 
 Three Lakes Drive 

Northfield, IL 60093 
 Fax No.:
(847) 646-3173 
 Email: Darin.Aprati@kraftfoods.com 
 Attention: Treasurer 
 Ladies and Gentlemen: 

This certificate is delivered to request a transfer of $[            ]
principal amount of the 5.375% Senior Notes due 2020 (the “Notes”) of Kraft Foods Group, Inc. (the “Company”). 
 Upon transfer, the Notes would be registered in the name of the new beneficial owner as follows: 
 Name:                                
                               

Address:                     
                                      

Taxpayer ID
Number:                                      

The undersigned represents and warrants to you that: 
 1. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933, as amended (the “Securities Act”)),
purchasing for our own account or for the account of such an institutional “accredited investor” at least $250,000 principal amount of the Notes, and we are acquiring the Notes, for investment purposes and not with a view to, or for offer
or sale in connection with, any distribution in violation of the Securities Act. We have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our investment in the Notes, and we
invest in or purchase securities similar to the Notes in the normal course of our business. We, and any accounts for which we are acting, are each able to bear the economic risk of our or its investment. 

2. We understand that the Notes have not been registered under the Securities Act and, unless so registered, may not be sold except as
permitted in the following sentence. We agree on our own behalf and on behalf of any investor account for which we are purchasing Notes to offer, sell or otherwise transfer such Notes prior to the date that is one year after the later of the date of
original issue and the last date on which the Company or any affiliate of the Company was the owner of such Notes (or any predecessor thereto) (the “Resale Restriction Termination Date”) only in accordance with the Restricted Notes
Legend (as such term is defined in the supplemental indenture under which the Notes were issued) on the Notes and any applicable securities laws of any state of the United States of America. The foregoing restrictions on resale will not apply
subsequent to the Resale Restriction Termination Date. If any resale or other transfer of the Notes is proposed to be made pursuant to clause 2.2(d)(ii) of Appendix A to the supplemental indenture under which the Notes were issued prior to the
Resale Restriction Termination Date, the transferor shall deliver a letter from the transferee substantially in the form of this letter to the Company and the Trustee, which shall provide, among other things, that the transferee is an institutional
“accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and that it is acquiring such Notes for investment purposes and not for distribution in violation of the Securities Act.
Each purchaser acknowledges that the Company and the Trustee reserve the right prior to the offer, sale or other transfer prior to the Resale Restriction Termination Date of the Notes with respect to applicable transfers described in the Restricted
Notes Legend to require the delivery of an opinion of counsel, certifications and/or other information satisfactory to the Company and the Trustee. 
  

 

	3 	 This certificate shall not be included as part of the Original Definitive Notes. 

  
 - 17 -

 
	
	TRANSFEREE:                            
                                         
 ,
	
	by:                            
                                         
                            

  
 - 18 -

 Exhibit A-3 

Form of Note representing the 2039 Notes 
 No. [RA-•] 
 KRAFT FOODS GROUP, INC. 

6.875% NOTE DUE 2039 
 representing 
 $[•] 
 CUSIP No. [•] 
 [RESTRICTED NOTES ONLY][THIS NOTE HAS NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED 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 

(A) 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, OR 
 (B) IT IS NOT A U.S. PERSON (WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT) AND 
 (2) AGREES FOR THE BENEFIT OF KRAFT FOODS GROUP, INC. THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS NOTE OR ANY BENEFICIAL INTEREST HEREIN, EXCEPT IN ACCORDANCE WITH THE SECURITIES ACT
AND ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND ONLY 
 (A) TO KRAFT FOODS GROUP, INC.,

 (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, 

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

(D) IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, 

(E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR
(7) UNDER THE SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF SECURITIES OF
$250,000, OR 

 (F) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER
THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 PRIOR TO THE
REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH (2)(C) ABOVE OR (2)(D) ABOVE, A DULY COMPLETED AND SIGNED CERTIFICATE (THE FORM OF WHICH MAY BE OBTAINED FROM THE TRUSTEE) MUST BE DELIVERED TO THE TRUSTEE. PRIOR TO THE REGISTRATION OF ANY
TRANSFER IN ACCORDANCE WITH (F) ABOVE, KRAFT FOODS GROUP, INC. RESERVES THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS
BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY RULE 144 EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.] 

[GLOBAL NOTES ONLY][UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (“DTC”), NEW YORK, NEW YORK, 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 SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL
SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN
ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.] 
 BY ITS ACQUISITION OF THIS
SECURITY OR ANY INTEREST HEREIN, THE HOLDER THEREOF WILL BE DEEMED TO HAVE REPRESENTED AND WARRANTED THAT EITHER (1) NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO ACQUIRE OR HOLD THIS SECURITY OR ANY INTEREST HEREIN CONSTITUTES THE ASSETS OF
AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OF A PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT THAT IS SUBJECT TO SECTION 4975 OF THE
U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR PROVISIONS UNDER ANY OTHER FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAWS”), OR
OF AN ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT, OR (2) THE ACQUISITION AND HOLDING OF THIS SECURITY OR ANY INTEREST HEREIN WILL NOT CONSTITUTE A NON-EXEMPT
PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS. 
 KRAFT FOODS GROUP, INC., a Virginia corporation (hereinafter called the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received,
hereby promises to pay to [Original Definitive Note: Kraft Foods Inc.][Global Notes: Cede & Co.] or registered assigns, the principal sum of $[•] [in the case of a Global Note: (or such other amount as may be
reflected on the schedule of exchanges of interest in the global note attached hereto)] on January 26, 2039, and to pay interest thereon from July 18, 2012 or from the most recent Interest Payment Date to which interest has been paid or
duly provided for, semiannually on January 26 and July 26, in each year, commencing July 26, 2012, at the rate of 6.875% per annum until the principal hereof is paid or made available for payment. 

  
 - 2 -

 The interest so payable, and punctually paid or duly provided for, on any Interest Payment
Date will, as provided in the Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be January 11 or
July 11 (or, in the case of the initial Interest Payment Date, the close of business on July 19) (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or
duly provided for shall forthwith cease to be payable to the Holders on such Regular Record Date and may be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record
Date for the payment of such Defaulted Interest to be fixed by the Trustee for the Notes, notice whereof shall be given to Holders of Notes not less than 10 days prior to such Special Record Date, or may be paid at any time in any other lawful
manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 

Payment of the principal of and interest on this Note will be made at the office or agency of the Company maintained for that purpose in
the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option of the
Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear on the Securities Register or by wire transfer to an account maintained by the payee at a bank located in the United
States. All payments of principal and interest in respect of this Note will be made by the Company in immediately available funds. 
 Additional provisions of this Note are contained on the reverse hereof, and such provisions shall have the same effect as though fully set forth in this place. 

Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee for the Notes by manual signature, this
Note shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose. 
 Signature Page
Follows 

  
 - 3 -

 IN WITNESS WHEREOF, KRAFT FOODS GROUP, INC. has caused this instrument to be duly executed
under its corporate seal. 
  

			
	KRAFT FOODS GROUP, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	Attest:
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 - 4 -

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein described in the within-mentioned Indenture. 

Dated: [•]. 
  

			
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
		
	By:	 	 
	 Name:
 Title:
	 	

  
 - 5 -

 (Reverse of Note) 
 KRAFT FOODS GROUP, INC. 
 This Note is one of a duly authorized issue of
debentures, notes or other evidences of indebtedness (hereinafter called the “Securities”) of the Company of the series hereinafter specified, which series is limited in aggregate principal amount to $877,860,000 (except as provided in the
Indenture hereinafter mentioned), all such Securities issued and to be issued under an Indenture dated as of June 4, 2012 between the Company and Deutsche Bank Trust Company Americas, as Trustee (the “Base Indenture”), as supplemented
by Supplemental Indenture No. 2, dated as of July 18, 2012, among the Company, Kraft Foods Inc. (the “Guarantor”) and the Trustee (the “Supplemental Indenture” and together with the Base Indenture, herein called the
“Indenture”), to which Indenture and all other indentures supplemental thereto reference is hereby made for a statement of the rights and limitations of rights thereunder of the Holders of the Securities and of the rights, obligations,
duties and immunities of the Trustee for each series of Securities and of the Company, and the terms upon which the Securities are and are to be authenticated and delivered. As provided in the Indenture, the Securities may be issued in one or more
series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest, if any, at different rates, may be subject to different redemption provisions, if any, may be subject to different
sinking, purchase or analogous funds, if any, may be subject to different covenants and Events of Default and may otherwise vary as in the Indenture provided or permitted. This Note is one of a series of the Securities designated therein as 6.875%
Notes due 2039 (the “Notes”). 
 The Company may, without the consent of the Holders of the Notes, issue additional
Notes having the same ranking and the same interest rate, maturity and other terms as the Notes, except for the issue price, issue date and, in some cases, the first payment of interest or interest accruing prior to the issue date of such additional
Notes. Any additional Notes having such similar terms, together with the Notes, shall constitute a single series of notes under the Indenture. No additional Notes may be issued if an Event of Default has occurred with respect to the Notes.

 Guarantee 

Pursuant to Article Fourteen of the Base Indenture, the Guarantor hereby agrees that it shall provide a Guarantee on a senior unsecured
basis of the Company’s obligations under the Indenture with respect to the Notes. The Guarantor shall be automatically and unconditionally released and discharged from all obligations under the Indenture and the Guarantee without any action
required on the part of the Trustee or any Holder pursuant to Section 3.02 of the Supplemental Indenture. 
 Change of Control

 If a Change of Control Triggering Event (as defined below) occurs, unless the Company has exercised its right to redeem
the Notes, Holders may require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of their Notes pursuant to an offer (the “Change of Control Offer”) of payment in cash equal to
101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased, to the date of purchase (the “Change of Control Payment”). Within 30 days following any Change of Control
Triggering Event, the Company will mail a notice to Holders describing the transaction or transactions that constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in the notice, which date will
be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”), pursuant to the procedures described in such notice. The Company must comply with the requirements of Rule
14e-1 under the Securities Exchange Act of 1934 (the “Exchange Act”) and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a
result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control provisions of the Notes, the Company will comply with the applicable securities laws and
regulations and will not be deemed to have breached its obligations under the Change of Control provisions of the Notes by virtue of such conflicts. 

  
 - 6 -

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

 

	 	•	 	 accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; 

 

	 	•	 	 deposit with the paying agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly tendered; and

  

	 	•	 	 deliver or cause to be delivered to the Trustee the Notes properly accepted together with an officers’ certificate stating the aggregate principal
amount of Notes or portions of Notes being purchased. 

 The paying agent will promptly mail to each Holder of
notes properly tendered the purchase price for the Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Note equal in principal amount to any unpurchased portion of any Notes
surrendered; provided that each new Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. 
 The Company will not be required to make an offer to repurchase the Notes upon a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in
compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not withdrawn under its offer. 
 For purposes of the foregoing discussion of a repurchase at the option of Holders, the following definitions are applicable: 

“Below Investment Grade Rating Event” means the Notes are rated below an Investment Grade Rating by each of the
Rating Agencies (as defined below) on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control (which
60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a below investment grade rating event otherwise arising by
virtue of a particular reduction in rating shall not be deemed to have occurred in respect to a particular Change of Control (and thus shall not be deemed a below investment grade rating event for purposes of the definition of Change of Control
Triggering Event hereunder) if the rating agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee in writing at its request that the reduction was the result,
in whole or in part, of any event or circumstance comprising or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the below investment grade
rating event). 
 “Change of Control” means the occurrence of any of the following: (1) the direct
or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its subsidiaries taken
as a whole to any Person or group of related persons for purposes of Section 13(d) of the Exchange Act (a “Group”) other than the Company or one of its subsidiaries, and other than the Internal Reorganization; (2) the approval by
the holders of the Company’s common stock of any plan or proposal for the liquidation or dissolution of the Company (whether or not otherwise in compliance with the provisions of the indenture); (3) the consummation of any transaction
(including, without limitation, any merger or consolidation) the result of which is that any Person or Group becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of the Company’s voting
stock; or (4) the first day on which a majority of the members of the Company’s Board of Directors are not Continuing Directors. 
 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event. 

“Continuing Directors” means, as of any date of determination, any member of the Board of Directors of the
Company who (1) was a member of such Board of Directors on the date of the issuance of the Notes; or (2) was nominated for election or elected to such Board of Directors with the approval of a

  
 - 7 -

 
majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election (either by a specific vote or by approval of the Company’s proxy
statement in which such member was named as a nominee for election as a director, without objection to such nomination). 
 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, respectively. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Person” has the meaning set forth in the indenture and includes a “person” as used in
Section 13(d)(3) of the Exchange Act. 
 “Rating Agencies” means (1) each of Moody’s and
S&P and (2) if any of Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating
organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Company (as certified by a resolution of the Company’s Board of Directors) as a replacement agency for Moody’s or S&P, or both of
them, as the case may be. 
 “S&P” means Standard & Poor’s Ratings Services, a
division of The McGraw-Hill Companies, Inc. 
 Payment of Additional Amounts 

Section 1010 of the Base Indenture shall be applicable to the Notes, except that the term “Holder,” when used in
Section 1010 of the Base Indenture, shall mean the beneficial owner of a Note or any person holding on behalf or for the account of the beneficial owner of a Note. 
 Redemption for Tax Reasons 
 The Company may redeem the Notes prior to
maturity in whole, but not in part, on not more than 60 days’ notice and not less than 30 days’ notice at a redemption price equal to the principal amount of such Notes plus any accrued interest and additional amounts to the date fixed for
redemption if: 
  

	 	•	 	 as a result of a change in or amendment to the tax laws, regulations or rulings of the United States or any political subdivision or taxing authority
of or in the United States or any change in official position regarding the application or interpretation of such laws, regulations or rulings (including a holding by a court of competent jurisdiction in the United States) that is announced or
becomes effective on or after July 18, 2012, the Company has or will become obligated to pay additional amounts with respect to such series of Notes as described in Section 1010 of the Base Indenture, or 

 

	 	•	 	 on or after July 18, 2012, any action is taken by a taxing authority of, or any decision has been rendered by a court of competent jurisdiction
in, the United States or any political subdivision of or in the United States, including any of those actions specified above, whether or not such action was taken or decision was rendered with respect to the Company, or any change, amendment,
application or interpretation is officially proposed, which, in any such case, in the written opinion of independent legal counsel of recognized standing, will result in a material probability that the Company will become obligated to pay additional
amounts with respect to such series of Notes, and the Company, in its business judgment, determines that such obligations cannot be avoided by the use of reasonable measures available to the Company. 

If the Company exercises its option to redeem the Notes, the Company will deliver to the Trustee a certificate signed by an authorized
officer stating that it is entitled to redeem the Notes and an opinion of independent tax counsel to the effect that the circumstances described in the above bullets exist. 

  
 - 8 -

 Payment of Additional Interest 

The Company shall pay all Additional Interest, if any, in the same manner and on the same dates as interest at the rate stated herein and
in the amounts set forth in the Registration Rights Agreement. 
 For purposes of the foregoing discussion of additional
interest, the following definitions are applicable: 
 “Additional Interest” means all interest payable
as a consequence of the failure to effectuate in a timely manner the Exchange Offer and/or shelf registration procedures set for in the Registration Rights Agreement. 

“Registration Rights Agreement” means (i) the registration rights agreement, dated as of July 18, 2012
among the Company, the Guarantor, and dealer managers party thereto and (ii) with respect to any additional Notes, one or more substantially similar registration rights agreements among the Company and the other parties thereto, as such
agreements may be amended from time to time. 
 Reports 
 For so long as any Notes are outstanding, the Company will furnish to Holders and prospective purchasers of the Notes, upon their request, the information required to be delivered pursuant to Rule
144A(d)(4) under the Securities Act of 1933, as amended (the “Securities Act”). The requirements set forth in this paragraph may be satisfied by delivering such information to the Trustee and posting copies of such information on a website
(which may be nonpublic and may be maintained by the Company or a third party, provided, that the Trustee will have no responsibility to determine if such posting has occurred) to which access will be given to Holders and prospective
purchasers of the Notes (which prospective purchasers will be limited to “qualified institutional buyers” within the meaning of Rule 144A of the Securities Act or non-U.S. persons (as defined in Regulation S under the Securities Act) that
certify their status as such to the reasonable satisfaction of the Company. 
 Defeasance 

The Indenture contains provisions for defeasance at any time of the entire principal of all the Securities of any series upon compliance
by the Company with certain conditions set forth therein. 
 Certain of the Company’s obligations under the Indenture with
respect to Notes, may be terminated if the Company irrevocably deposits with the Trustee money or Government Obligations sufficient to pay and discharge the entire indebtedness on a the Indenture. 

Events of Default 
 If an
Event of Default (other than an Event of Default described in Section 501(4) or 501(5) of the Base Indenture) with respect to the Notes shall occur and be continuing, then either the Trustee or the Holders of not less than 25% in principal
amount of the Notes of this series then Outstanding may declare the entire principal amount of the Notes of this series due and payable in the manner and with effect provided in the Indenture. If an Event of Default specified in Section 501(4)
or 501(5) of the Base Indenture occurs with respect to the Company, all of the unpaid principal amount and accrued interest then outstanding shall ipso facto become and be immediately due and payable in the manner and with the effect provided
in the Indenture without any declaration or other act by the Trustee or any Holder. 
 Amendments 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Securities under the Indenture at any time by the Company with the consent of the Holders of more than 50% in aggregate principal amount of the Securities at the time Outstanding of
each series issued under the Indenture to be affected thereby. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal 

  
 - 9 -

 
amount of the Securities of that series at the time Outstanding, on behalf of the Holders of all the Securities of such series, to waive compliance by the Company with certain provisions of the
Indenture and certain past defaults under the Indenture and their consequences with respect to such series. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this
Note and of any Note issued upon the transfer hereof or in exchange or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. 
 Payment 
 No reference herein to the Indenture and no provision of this Note
or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein and in the Indenture
prescribed. 
 Transfer, Registration and Exchange 
 As provided in the Indenture and subject to certain limitations therein set forth, this Note is transferable on the Security Register of the Company, upon surrender of this Note for registration of
transfer at the office or agency of the Company to be maintained for that purpose in the Borough of Manhattan, The City of New York, or at any other office or agency of the Company maintained for that purpose, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder hereof or his attorney duly authorized in writing, and thereupon due or one or more new notes, of authorized denominations and
for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The Notes are issuable
only in registered form without coupons in denominations of $2,000 and any multiple of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate principal
amount of Notes of a like tenor and of a different authorized denomination, as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 The Company, the Trustee for the
Notes and any agent of the Company or such Trustee may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment as herein provided and for all other purposes, whether or not this Note be
overdue, and neither the Company, such Trustee nor any such agent shall be affected by notice to the contrary. 
 The Notes are
not subject to a sinking fund. 
 This Note shall for all purposes be governed by, and construed in accordance with, the laws
of the State of New York. 
 Certain terms used in this Note which are defined in the Indenture have the meanings set forth
therein. 

  
 - 10 -

 ASSIGNMENT FORM 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto: 
 PLEASE INSERT
SOCIAL SECURITY NUMBER OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 
  
  

(Name and address of Assignee, including zip code, must be printed or typewritten) 

 
  
  

 
 the within Note, and all rights thereunder,
hereby irrevocably, constituting and appointing 
  
  

 
  
 to transfer the said Note on the books of Kraft Foods Group, Inc. with full power of substitution in the premises. 
  

			
		
	Dated:                	 	 
		 	NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Note in every particular, without alteration or enlargement or any
change whatever.

  
 - 11 -

 CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR 

REGISTRATION OF TRANSFERS OF TRANSFER RESTRICTED NOTES1 
 This certificate relates to $                     principal amount of Notes held in (check applicable
space)              book-entry or             definitive form by the undersigned. 

The undersigned (check one box below): 
 has requested the Trustee by written order to deliver in exchange for its beneficial interest in a Global Note held by the Depositary a Note or Notes in definitive, registered form of authorized
denominations and an aggregate principal amount equal to its beneficial interest in such Global Note (or the portion thereof indicated above) in accordance with the Indenture; or 

has requested the Trustee by written order to exchange or register the transfer of a Note or Notes. 

In connection with any transfer of any of the Notes evidenced by this certificate, the undersigned confirms that such Notes are being
transferred in accordance with its terms: 
 CHECK ONE BOX BELOW 

 

	 	(1)	to the Company or subsidiary thereof; or 

  

	 	(2)	to the Registrar for registration in the name of the Holder, without transfer; or 

 

	 	(3)	pursuant to an effective registration statement under the Securities Act of 1933, as amended (the “Securities Act”); or 

 

	 	(4)	to a Person that the undersigned reasonably believes is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act
(“Rule 144A”)) that purchases for its own account or for the account of a qualified institutional buyer and to whom notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in
compliance with Rule 144A; or 

  

	 	(5)	pursuant to offers and sales to non-U.S. persons that occur outside the United States of America within the meaning of Regulation S under the Securities Act (and if the
transfer is being made prior to the expiration of the Distribution Compliance Period, the Notes shall be held immediately thereafter through Euroclear or Clearstream); or 

 

	 	(6)	to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act) that has furnished to the Trustee
a signed letter in the form provided on the reverse side of such Notes; or 

  

	 	(7)	pursuant to Rule 144 under the Securities Act; or 

  

	 	(8)	pursuant to another available exemption from registration under the Securities Act. 

 
  

	1 	 This certificate shall not be included as part of the Original Definitive Notes. 

  
 - 12 -

 Unless one of the boxes is checked, the Trustee will refuse to register any of the Notes
evidenced by this certificate in the name of any Person other than the registered Holder thereof; provided, however, that if box (7) or (8) is checked, the Company or the Trustee may require, prior to registering any
such transfer of the Notes, such legal opinions, certifications and other information as the Company or the Trustee has reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject
to, the registration requirements of the Securities Act. 
  

			
	 	 	Your Signature
	
Date:                       
                         
	 	
		 	  

		 	 Signature of Signature

Guarantor

 TO BE COMPLETED BY PURCHASER IF (4) ABOVE IS CHECKED. 

The undersigned represents and warrants that it is purchasing this Note for its own account or an account with respect to which it
exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges
that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the undersigned’s
foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
  

			
	Dated:                           
                     	 	  

		 	 NOTICE:     To be executed by

  an executive officer
 Name:
 Title:

 Signature Guarantee*:
                                         
                
  

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

  
 - 13 -

 TO BE COMPLETED IF THE HOLDER REQUIRES AN EXCHANGE FROM A 

REGULATION S GLOBAL NOTE TO AN UNRESTRICTED GLOBAL NOTE, 

PURSUANT TO SECTION 2.2(d)(iii) OF APPENDIX A TO THE INDENTURE2 

The undersigned represents and warrants that either: 
 the undersigned is not a dealer (as defined in the Securities Act) and is a non-U.S. person (within the meaning of Regulation S under the Securities Act); or 

the undersigned is not a dealer (as defined in the Securities Act) and is a U.S. person (within the meaning of Regulation S under the
Securities Act) who purchased interests in the Notes pursuant to an exemption from, or in a transaction not subject to, the registration requirements under the Securities Act; or 

the undersigned is a dealer (as defined in the Securities Act) and the interest of the undersigned in this Note does not constitute the
whole or a part of an unsold allotment to or subscription by such dealer for the Notes. 
  

			
	Dated:                           
     	 	  

		 	Your Signature

  

	2	 Include only for
Regulation S Global Notes. 

  
 - 14 -

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have all or part of this Note purchased by the Company pursuant to Change of Control, state the amount you elect
to have purchased: 
  

					
			
	$                        	 		 	 (integral multiples of $1,000,

provided that the unpurchased
 portion
must be in a minimum
 principal amount of $2,000)

Date:                     
             
  

					
	Your Signature:	 	 
		 		 	(Sign exactly as your name appears on the face of this Note)
	Tax Identification No.:	 	 

 Signature
Guarantee*:                                       
                       
  

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

  
 - 15 -

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE* 

The initial outstanding principal amount of this Global Note is
$            . The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or
Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease
in Principal Amount of this
Global Note	  	Amount of
increase
in Principal
Amount of
this
Global Note	  	Principal
Amount of
this Global
Note
following
such
decrease or
increase	  	Signature of authorized
signatory of Trustee,
Depositary or
Custodian

  

 

	*	This schedule should be included only if the Note is issued in global form. 

  
 - 16 -

 FORM OF 

TRANSFEREE LETTER OF REPRESENTATION3 
 Kraft Foods Group, Inc. 
 Three Lakes Drive 
 Northfield, IL 60093 
 Fax No.: (847) 646-3173 
 Email: Darin.Aprati@kraftfoods.com 

Attention: Treasurer 
 Ladies and Gentlemen:

 This certificate is delivered to request a transfer of
$[            ] principal amount of the 6.875% Senior Notes due 2039 (the “Notes”) of Kraft Foods Group, Inc. (the “Company”). 

Upon transfer, the Notes would be registered in the name of the new beneficial owner as follows: 

Name:                     
                             
 Address:                                
              
 Taxpayer ID
Number:                          
 The undersigned represents and warrants to you that: 
 1. We are an institutional
“accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933, as amended (the “Securities Act”)), purchasing for our own account or for the account of such an
institutional “accredited investor” at least $250,000 principal amount of the Notes, and we are acquiring the Notes, for investment purposes and not with a view to, or for offer or sale in connection with, any distribution in violation of
the Securities Act. We have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our investment in the Notes, and we invest in or purchase securities similar to the Notes in the
normal course of our business. We, and any accounts for which we are acting, are each able to bear the economic risk of our or its investment. 
 2. We understand that the Notes have not been registered under the Securities Act and, unless so registered, may not be sold except as permitted in the following sentence. We agree on our own behalf and
on behalf of any investor account for which we are purchasing Notes to offer, sell or otherwise transfer such Notes prior to the date that is one year after the later of the date of original issue and the last date on which the Company or any
affiliate of the Company was the owner of such Notes (or any predecessor thereto) (the “Resale Restriction Termination Date”) only in accordance with the Restricted Notes Legend (as such term is defined in the supplemental indenture
under which the Notes were issued) on the Notes and any applicable securities laws of any state of the United States of America. The foregoing restrictions on resale will not apply subsequent to the Resale Restriction Termination Date. If any resale
or other transfer of the Notes is proposed to be made pursuant to clause 2.2(d)(ii) of Appendix A to the supplemental indenture under which the Notes were issued prior to the Resale Restriction Termination Date, the transferor shall deliver a
letter from the transferee substantially in the form of this letter to the Company and the Trustee, which shall provide, among other things, that the transferee is an institutional “accredited investor” within the meaning of
Rule 501(a)(1), (2), (3) or (7) under the Securities Act and that it is acquiring such Notes for investment purposes and not for distribution in violation of the Securities Act. Each purchaser acknowledges that the Company and the
Trustee reserve the right prior to the offer, sale or other transfer prior to the Resale Restriction Termination Date of the Notes with respect to applicable transfers described in the Restricted Notes Legend to require the delivery of an opinion of
counsel, certifications and/or other information satisfactory to the Company and the Trustee. 
  

	3 	 This certificate shall not be included as part of the Original Definitive Notes. 

  
 - 17 -

 TRANSFEREE:
                                         
        , 

by:                   
                                         
            

  
 - 18 -

 Exhibit A-4 

Form of Note representing the 2040 Notes 
 No. [RA-•] 
 KRAFT FOODS GROUP, INC. 

6.500% NOTE DUE 2040 
 representing 
 $[•] 
 CUSIP No. [•] 
 [RESTRICTED NOTES ONLY][THIS NOTE HAS NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED 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 

(A) 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, OR 
 (B) IT IS NOT A U.S. PERSON (WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT) AND 
 (2) AGREES FOR THE BENEFIT OF KRAFT FOODS GROUP, INC. THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS NOTE OR ANY BENEFICIAL INTEREST HEREIN, EXCEPT IN ACCORDANCE WITH THE SECURITIES ACT
AND ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND ONLY 
 (A) TO KRAFT FOODS GROUP, INC.,

 (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, 

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

(D) IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, 

(E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR
(7) UNDER THE SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF SECURITIES OF
$250,000, OR 
 (F) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR
ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

 PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH (2)(C) ABOVE OR
(2)(D) ABOVE, A DULY COMPLETED AND SIGNED CERTIFICATE (THE FORM OF WHICH MAY BE OBTAINED FROM THE TRUSTEE) MUST BE DELIVERED TO THE TRUSTEE. PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH (F) ABOVE, KRAFT FOODS GROUP, INC.
RESERVES THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE
STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY RULE 144 EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.] 
 [GLOBAL NOTES ONLY][UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, 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 SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT
NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE
REFERRED TO ON THE REVERSE HEREOF.] 
 BY ITS ACQUISITION OF THIS SECURITY OR ANY INTEREST HEREIN, THE HOLDER THEREOF WILL BE
DEEMED TO HAVE REPRESENTED AND WARRANTED THAT EITHER (1) NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO ACQUIRE OR HOLD THIS SECURITY OR ANY INTEREST HEREIN CONSTITUTES THE ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE
U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OF A PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE
“CODE”) OR PROVISIONS UNDER ANY OTHER FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAWS”), OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED
TO INCLUDE “PLAN ASSETS” OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT, OR (2) THE ACQUISITION AND HOLDING OF THIS SECURITY OR ANY INTEREST HEREIN WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR
SECTION 4975 OF THE CODE OR A SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS. 
 KRAFT FOODS GROUP, INC., a Virginia
corporation (hereinafter called the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to [Original Definitive Note: Kraft Foods
Inc.][Global Notes: Cede & Co.] or registered assigns, the principal sum of $[•] [in the case of a Global Note: (or such other amount as may be reflected on the schedule of exchanges of interest in the global note
attached hereto)] on February 9, 2040, and to pay interest thereon from July 18, 2012 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semiannually on February 9 and August 9, in
each year, commencing August 9, 2012, at the rate of 6.500% per annum until the principal hereof is paid or made available for payment. 
 The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Note (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be January 25 and July 25 (whether or not a Business Day), as the case may be, next preceding such Interest Payment
Date. Any such 

  
 - 2 -

 
interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holders on such Regular Record Date and may be paid to the Person in whose name this Note (or one
or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee for the Notes, notice whereof shall be given to Holders of Notes not less than 10
days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such
exchange, all as more fully provided in said Indenture. 
 Payment of the principal of and interest on this Note will be made at
the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private
debts; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear on the Securities Register or by wire transfer to an
account maintained by the payee at a bank located in the United States. All payments of principal and interest in respect of this Note will be made by the Company in immediately available funds. 

Additional provisions of this Note are contained on the reverse hereof, and such provisions shall have the same effect as though fully
set forth in this place. 
 Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee for
the Notes by manual signature, this Note shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose. 
 Signature Page Follows 

  
 - 3 -

 IN WITNESS WHEREOF, KRAFT FOODS GROUP, INC. has caused this instrument to be duly executed
under its corporate seal. 
  

			
	KRAFT FOODS GROUP, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	
		
	Attest:	 	
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 - 4 -

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein described in the within-mentioned Indenture. 

Dated: [•]. 
  

			
	 DEUTSCHE BANK TRUST COMPANY
 AMERICAS, as Trustee

		
	By:	 	 
	Name:	 	
	Title:	 	

  
 - 5 -

 (Reverse of Note) 
 KRAFT FOODS GROUP, INC. 
 This Note is one of a duly authorized issue of
debentures, notes or other evidences of indebtedness (hereinafter called the “Securities”) of the Company of the series hereinafter specified, which series is limited in aggregate principal amount to $787,483,000 (except as provided in the
Indenture hereinafter mentioned), all such Securities issued and to be issued under an Indenture dated as of June 4, 2012 between the Company and Deutsche Bank Trust Company Americas, as Trustee (the “Base Indenture”), as supplemented
by Supplemental Indenture No. 2, dated as of July 18, 2012, among the Company, Kraft Foods Inc. (the “Guarantor”) and the Trustee (the “Supplemental Indenture” and together with the Base Indenture, herein called the
“Indenture”), to which Indenture and all other indentures supplemental thereto reference is hereby made for a statement of the rights and limitations of rights thereunder of the Holders of the Securities and of the rights, obligations,
duties and immunities of the Trustee for each series of Securities and of the Company, and the terms upon which the Securities are and are to be authenticated and delivered. As provided in the Indenture, the Securities may be issued in one or more
series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest, if any, at different rates, may be subject to different redemption provisions, if any, may be subject to different
sinking, purchase or analogous funds, if any, may be subject to different covenants and Events of Default and may otherwise vary as in the Indenture provided or permitted. This Note is one of a series of the Securities designated therein as 6.500%
Notes due 2040 (the “Notes”). 
 The Company may, without the consent of the Holders of the Notes, issue additional
Notes having the same ranking and the same interest rate, maturity and other terms as the Notes, except for the issue price, issue date and, in some cases, the first payment of interest or interest accruing prior to the issue date of such additional
Notes. Any additional Notes having such similar terms, together with the Notes, shall constitute a single series of notes under the Indenture. No additional Notes may be issued if an Event of Default has occurred with respect to the Notes.

 Guarantee 

Pursuant to Article Fourteen of the Base Indenture, the Guarantor hereby agrees that it shall provide a Guarantee on a senior unsecured
basis of the Company’s obligations under the Indenture with respect to the Notes. The Guarantor shall be automatically and unconditionally released and discharged from all obligations under the Indenture and the Guarantee without any action
required on the part of the Trustee or any Holder pursuant to Section 3.02 of the Supplemental Indenture. 
 Change of Control

 If a Change of Control Triggering Event (as defined below) occurs, unless the Company has exercised its right to redeem
the Notes, Holders may require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of their Notes pursuant to an offer (the “Change of Control Offer”) of payment in cash equal to
101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased, to the date of purchase (the “Change of Control Payment”). Within 30 days following any Change of Control
Triggering Event, the Company will mail a notice to Holders describing the transaction or transactions that constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in the notice, which date will
be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”), pursuant to the procedures described in such notice. The Company must comply with the requirements of Rule
14e-1 under the Securities Exchange Act of 1934 (the “Exchange Act”) and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a
result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control provisions of the Notes, the Company will comply with the applicable securities laws and
regulations and will not be deemed to have breached its obligations under the Change of Control provisions of the Notes by virtue of such conflicts. 

  
 - 6 -

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

 

	 	•	 	 accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; 

 

	 	•	 	 deposit with the paying agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly tendered; and

  

	 	•	 	 deliver or cause to be delivered to the Trustee the Notes properly accepted together with an officers’ certificate stating the aggregate principal
amount of Notes or portions of Notes being purchased. 

 The paying agent will promptly mail to each Holder of
notes properly tendered the purchase price for the Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Note equal in principal amount to any unpurchased portion of any Notes
surrendered; provided that each new Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. 
 The Company will not be required to make an offer to repurchase the Notes upon a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in
compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not withdrawn under its offer. 
 For purposes of the foregoing discussion of a repurchase at the option of Holders, the following definitions are applicable: 

“Below Investment Grade Rating Event” means the Notes are rated below an Investment Grade Rating by each of the
Rating Agencies (as defined below) on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control (which
60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a below investment grade rating event otherwise arising by
virtue of a particular reduction in rating shall not be deemed to have occurred in respect to a particular Change of Control (and thus shall not be deemed a below investment grade rating event for purposes of the definition of Change of Control
Triggering Event hereunder) if the rating agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee in writing at its request that the reduction was the result,
in whole or in part, of any event or circumstance comprising or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the below investment grade
rating event). 
 “Change of Control” means the occurrence of any of the following: (1) the direct
or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its subsidiaries taken
as a whole to any Person or group of related persons for purposes of Section 13(d) of the Exchange Act (a “Group”) other than the Company or one of its subsidiaries, and other than the Internal Reorganization; (2) the approval by
the holders of the Company’s common stock of any plan or proposal for the liquidation or dissolution of the Company (whether or not otherwise in compliance with the provisions of the indenture); (3) the consummation of any transaction
(including, without limitation, any merger or consolidation) the result of which is that any Person or Group becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of the Company’s voting
stock; or (4) the first day on which a majority of the members of the Company’s Board of Directors are not Continuing Directors. 
 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event. 

“Continuing Directors” means, as of any date of determination, any member of the Board of Directors of the
Company who (1) was a member of such Board of Directors on the date of the issuance of the Notes; or (2) was nominated for election or elected to such Board of Directors with the approval of a

  
 - 7 -

 
majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election (either by a specific vote or by approval of the Company’s proxy
statement in which such member was named as a nominee for election as a director, without objection to such nomination). 
 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, respectively. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Person” has the meaning set forth in the indenture and includes a “person” as used in
Section 13(d)(3) of the Exchange Act. 
 “Rating Agencies” means (1) each of Moody’s and
S&P and (2) if any of Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating
organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Company (as certified by a resolution of the Company’s Board of Directors) as a replacement agency for Moody’s or S&P, or both of
them, as the case may be. 
 “S&P” means Standard & Poor’s Ratings Services, a
division of The McGraw-Hill Companies, Inc. 
 Payment of Additional Amounts 

Section 1010 of the Base Indenture shall be applicable to the Notes, except that the term “Holder,” when used in
Section 1010 of the Base Indenture, shall mean the beneficial owner of a Note or any person holding on behalf or for the account of the beneficial owner of a Note. 
 Redemption for Tax Reasons 
 The Company may redeem the Notes prior to
maturity in whole, but not in part, on not more than 60 days’ notice and not less than 30 days’ notice at a redemption price equal to the principal amount of such Notes plus any accrued interest and additional amounts to the date fixed for
redemption if: 
  

	 	•	 	 as a result of a change in or amendment to the tax laws, regulations or rulings of the United States or any political subdivision or taxing authority
of or in the United States or any change in official position regarding the application or interpretation of such laws, regulations or rulings (including a holding by a court of competent jurisdiction in the United States) that is announced or
becomes effective on or after July 18, 2012, the Company has or will become obligated to pay additional amounts with respect to such series of Notes as described in Section 1010 of the Base Indenture, or 

 

	 	•	 	 on or after July 18, 2012, any action is taken by a taxing authority of, or any decision has been rendered by a court of competent jurisdiction
in, the United States or any political subdivision of or in the United States, including any of those actions specified above, whether or not such action was taken or decision was rendered with respect to the Company, or any change, amendment,
application or interpretation is officially proposed, which, in any such case, in the written opinion of independent legal counsel of recognized standing, will result in a material probability that the Company will become obligated to pay additional
amounts with respect to such series of Notes, and the Company, in its business judgment, determines that such obligations cannot be avoided by the use of reasonable measures available to the Company. 

If the Company exercises its option to redeem the Notes, the Company will deliver to the Trustee a certificate signed by an authorized
officer stating that it is entitled to redeem the Notes and an opinion of independent tax counsel to the effect that the circumstances described in the above bullets exist. 

  
 - 8 -

 Payment of Additional Interest 

The Company shall pay all Additional Interest, if any, in the same manner and on the same dates as interest at the rate stated herein and
in the amounts set forth in the Registration Rights Agreement. 
 For purposes of the foregoing discussion of additional
interest, the following definitions are applicable: 
 “Additional Interest” means all interest payable
as a consequence of the failure to effectuate in a timely manner the Exchange Offer and/or shelf registration procedures set for in the Registration Rights Agreement. 

“Registration Rights Agreement” means (i) the registration rights agreement, dated as of July 18, 2012
among the Company, the Guarantor, and the dealer managers party thereto and (ii) with respect to any additional Notes, one or more substantially similar registration rights agreements among the Company and the other parties thereto, as such
agreements may be amended from time to time. 
 Reports 
 For so long as any Notes are outstanding, the Company will furnish to Holders and prospective purchasers of the Notes, upon their request, the information required to be delivered pursuant to Rule
144A(d)(4) under the Securities Act of 1933, as amended (the “Securities Act”). The requirements set forth in this paragraph may be satisfied by delivering such information to the Trustee and posting copies of such information on a website
(which may be nonpublic and may be maintained by the Company or a third party, provided, that the Trustee will have no responsibility to determine if such posting has occurred) to which access will be given to Holders and prospective
purchasers of the Notes (which prospective purchasers will be limited to “qualified institutional buyers” within the meaning of Rule 144A of the Securities Act or non-U.S. persons (as defined in Regulation S under the Securities Act) that
certify their status as such to the reasonable satisfaction of the Company. 
 Defeasance 

The Indenture contains provisions for defeasance at any time of the entire principal of all the Securities of any series upon compliance
by the Company with certain conditions set forth therein. 
 Certain of the Company’s obligations under the Indenture with
respect to Notes, may be terminated if the Company irrevocably deposits with the Trustee money or Government Obligations sufficient to pay and discharge the entire indebtedness on a the Indenture. 

Events of Default 
 If an
Event of Default (other than an Event of Default described in Section 501(4) or 501(5) of the Base Indenture) with respect to the Notes shall occur and be continuing, then either the Trustee or the Holders of not less than 25% in principal
amount of the Notes of this series then Outstanding may declare the entire principal amount of the Notes of this series due and payable in the manner and with effect provided in the Indenture. If an Event of Default specified in Section 501(4)
or 501(5) of the Base Indenture occurs with respect to the Company, all of the unpaid principal amount and accrued interest then outstanding shall ipso facto become and be immediately due and payable in the manner and with the effect provided
in the Indenture without any declaration or other act by the Trustee or any Holder. 
 Amendments 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Securities under the Indenture at any time by the Company with the consent of the Holders of more than 50% in aggregate principal amount of the Securities at the time Outstanding of
each series issued under the Indenture to be affected thereby. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal 

  
 - 9 -

 
amount of the Securities of that series at the time Outstanding, on behalf of the Holders of all the Securities of such series, to waive compliance by the Company with certain provisions of the
Indenture and certain past defaults under the Indenture and their consequences with respect to such series. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this
Note and of any Note issued upon the transfer hereof or in exchange or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. 
 Payment 
 No reference herein to the Indenture and no provision of this Note
or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein and in the Indenture
prescribed. 
 Transfer, Registration and Exchange 
 As provided in the Indenture and subject to certain limitations therein set forth, this Note is transferable on the Security Register of the Company, upon surrender of this Note for registration of
transfer at the office or agency of the Company to be maintained for that purpose in the Borough of Manhattan, The City of New York, or at any other office or agency of the Company maintained for that purpose, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder hereof or his attorney duly authorized in writing, and thereupon due or one or more new notes, of authorized denominations and
for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The Notes are issuable
only in registered form without coupons in denominations of $2,000 and any multiple of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate principal
amount of Notes of a like tenor and of a different authorized denomination, as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 The Company, the Trustee for the
Notes and any agent of the Company or such Trustee may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment as herein provided and for all other purposes, whether or not this Note be
overdue, and neither the Company, such Trustee nor any such agent shall be affected by notice to the contrary. 
 The Notes are
not subject to a sinking fund. 
 This Note shall for all purposes be governed by, and construed in accordance with, the laws
of the State of New York. 
 Certain terms used in this Note which are defined in the Indenture have the meanings set forth
therein. 

  
 - 10 -

 ASSIGNMENT FORM 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto: 
 PLEASE INSERT
SOCIAL SECURITY NUMBER OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 
  
  

(Name and address of Assignee, including zip code, must be printed or typewritten) 

 
  
  

 
 the within Note, and all rights thereunder,
hereby irrevocably, constituting and appointing 
  
  

 
  
 to transfer the said Note on the books of Kraft Foods Group, Inc. with full power of substitution in the premises. 
  

			
	Dated:                            
                 	  	  

		  	NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Note in every particular, without alteration or enlargement or any
change whatever.

  
 - 11 -

 CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR 

REGISTRATION OF TRANSFERS OF TRANSFER RESTRICTED NOTES1 
 This certificate relates to $                     principal amount of Notes held in (check applicable
space)                     book-entry
or                     definitive form by the undersigned. 
 The undersigned (check one box below): 
 has requested the Trustee by written order
to deliver in exchange for its beneficial interest in a Global Note held by the Depositary a Note or Notes in definitive, registered form of authorized denominations and an aggregate principal amount equal to its beneficial interest in such Global
Note (or the portion thereof indicated above) in accordance with the Indenture; or 
 has requested the Trustee by written order
to exchange or register the transfer of a Note or Notes. 
 In connection with any transfer of any of the Notes evidenced by
this certificate, the undersigned confirms that such Notes are being transferred in accordance with its terms: 
 CHECK ONE BOX
BELOW 
  

	 	(1)	to the Company or subsidiary thereof; or 

  

	 	(2)	to the Registrar for registration in the name of the Holder, without transfer; or 

 

	 	(3)	pursuant to an effective registration statement under the Securities Act of 1933, as amended (the “Securities Act”); or 

 

	 	(4)	to a Person that the undersigned reasonably believes is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act
(“Rule 144A”)) that purchases for its own account or for the account of a qualified institutional buyer and to whom notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in
compliance with Rule 144A; or 

  

	 	(5)	pursuant to offers and sales to non-U.S. persons that occur outside the United States of America within the meaning of Regulation S under the Securities Act (and if the
transfer is being made prior to the expiration of the Distribution Compliance Period, the Notes shall be held immediately thereafter through Euroclear or Clearstream); or 

 

	 	(6)	to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act) that has furnished to the Trustee
a signed letter in the form provided on the reverse side of such Notes; or 

  

	 	(7)	pursuant to Rule 144 under the Securities Act; or 

  

	 	(8)	pursuant to another available exemption from registration under the Securities Act. 

 
  

	1 	 This certificate shall not be included as part of the Original Definitive Notes. 

  
 - 12 -

 Unless one of the boxes is checked, the Trustee will refuse to register any of the Notes
evidenced by this certificate in the name of any Person other than the registered Holder thereof; provided, however, that if box (7) or (8) is checked, the Company or the Trustee may require, prior to registering any
such transfer of the Notes, such legal opinions, certifications and other information as the Company or the Trustee has reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject
to, the registration requirements of the Securities Act. 
  

					
			
		 		 	 
		 		 	Your Signature
			
	
Date:                       
         
	 		 	 
		 		 	Signature of Signature
		 		 	Guarantor

 TO BE COMPLETED BY PURCHASER IF (4) ABOVE IS CHECKED. 

The undersigned represents and warrants that it is purchasing this Note for its own account or an account with respect to which it
exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges
that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the undersigned’s
foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
  

					
			
	
Dated:                       
         
	 		 	 
		 		 	NOTICE: To be executed by
		 		 	                  an executive officer
		 		 	Name:
		 		 	Title:

 Signature Guarantee*:
                                        

  

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

  
 - 13 -

 TO BE COMPLETED IF THE HOLDER REQUIRES AN EXCHANGE FROM A 

REGULATION S GLOBAL NOTE TO AN UNRESTRICTED GLOBAL NOTE, 

PURSUANT TO SECTION 2.2(d)(iii) OF APPENDIX A TO THE INDENTURE2 

The undersigned represents and warrants that either: 
 the undersigned is not a dealer (as defined in the Securities Act) and is a non-U.S. person (within the meaning of Regulation S under the Securities Act); or 

the undersigned is not a dealer (as defined in the Securities Act) and is a U.S. person (within the meaning of Regulation S under the
Securities Act) who purchased interests in the Notes pursuant to an exemption from, or in a transaction not subject to, the registration requirements under the Securities Act; or 

the undersigned is a dealer (as defined in the Securities Act) and the interest of the undersigned in this Note does not constitute the
whole or a part of an unsold allotment to or subscription by such dealer for the Notes. 
  

					
			
	
Dated:                       
                         
	 		 	 
		 		 	Your Signature

  

	2 	 Include only for Regulation S Global Notes. 

  
 - 14 -

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have all or part of this Note purchased by the Company pursuant to Change of Control, state the amount you elect
to have purchased: 
  

					
			
	$                        	 		 	 (integral multiples of $1,000,
 provided that the unpurchased
 portion must be in a minimum

principal amount of $2,000)

Date:                     
             
  

					
	Your Signature:	 	 
		 		 	(Sign exactly as your name appears on the face of this Note)
	Tax Identification No.:	 	 

 Signature
Guarantee*:                                       
                                         
                               

 

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

  
 - 15 -

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE* 

The initial outstanding principal amount of this Global Note is
$            . The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or
Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease
in Principal Amount of
this
Global Note	  	Amount of
increase
in Principal
Amount of
this
Global Note	  	Principal
Amount of
this Global
Note
following
such
decrease or
increase	  	Signature of authorized
signatory of
Trustee,
Depositary or
Custodian

  

 

	*	This schedule should be included only if the Note is issued in global form. 

  
 - 16 -

 FORM OF 

TRANSFEREE LETTER OF REPRESENTATION3 
 Kraft Foods
Group, Inc. 
 Three Lakes Drive 

Northfield, IL 60093 
 Fax No.:
(847) 646-3173 
 Email: Darin.Aprati@kraftfoods.com 
 Attention: Treasurer 
 Ladies and Gentlemen: 

This certificate is delivered to request a transfer of $[            ]
principal amount of the 6.500% Senior Notes due 2040 (the “Notes”) of Kraft Foods Group, Inc. (the “Company”). 
 Upon transfer, the Notes would be registered in the name of the new beneficial owner as follows: 
 Name:                                
                   

Address:                     
                          
 Taxpayer ID Number:                           

The undersigned represents and warrants to you that: 
 1. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933, as amended (the “Securities Act”)),
purchasing for our own account or for the account of such an institutional “accredited investor” at least $250,000 principal amount of the Notes, and we are acquiring the Notes, for investment purposes and not with a view to, or for offer
or sale in connection with, any distribution in violation of the Securities Act. We have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our investment in the Notes, and we
invest in or purchase securities similar to the Notes in the normal course of our business. We, and any accounts for which we are acting, are each able to bear the economic risk of our or its investment. 

2. We understand that the Notes have not been registered under the Securities Act and, unless so registered, may not be sold except as
permitted in the following sentence. We agree on our own behalf and on behalf of any investor account for which we are purchasing Notes to offer, sell or otherwise transfer such Notes prior to the date that is one year after the later of the date of
original issue and the last date on which the Company or any affiliate of the Company was the owner of such Notes (or any predecessor thereto) (the “Resale Restriction Termination Date”) only in accordance with the Restricted Notes
Legend (as such term is defined in the supplemental indenture under which the Notes were issued) on the Notes and any applicable securities laws of any state of the United States of America. The foregoing restrictions on resale will not apply
subsequent to the Resale Restriction Termination Date. If any resale or other transfer of the Notes is proposed to be made pursuant to clause 2.2(d)(ii) of Appendix A to the supplemental indenture under which the Notes were issued prior to the
Resale Restriction Termination Date, the transferor shall deliver a letter from the transferee substantially in the form of this letter to the Company and the Trustee, which shall provide, among other things, that the transferee is an institutional
“accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and that it is acquiring such Notes for investment purposes and not for distribution in violation of the Securities Act.
Each purchaser acknowledges that the Company and the Trustee reserve the right prior to the offer, sale or other transfer prior to the Resale Restriction Termination Date of the Notes with respect to applicable transfers described in the Restricted
Notes Legend to require the delivery of an opinion of counsel, certifications and/or other information satisfactory to the Company and the Trustee. 
  

 

	3 	 This certificate shall not be included as part of the Original Definitive Notes. 

  
 - 17 -

TRANSFEREE:                 
                                         
       , 

by:                   
                                         
                          

  
 - 18 -Exhibit 4.1

 Exhibit 4.1 
 EXECUTION VERSION 
  

 
 CAL DIVE INTERNATIONAL, INC.

 as Issuer 
 THE SUBSIDIARY GUARANTORS PARTY HERETO 
 and 

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

 
 INDENTURE

 Dated as of July 18, 2012 
  

 
 5.00%
CONVERTIBLE SENIOR NOTES DUE 2017 
  
  

 
  

 TABLE OF CONTENTS 

 
  

					
	 	  	PAGE	 
	ARTICLE 1	  
	DEFINITIONS AND INCORPORATION BY REFERENCE	  
	 Section 1.01. Definitions
	  	 	1	  
	 Section 1.02. Other Definitions
	  	 	10	  
	 Section 1.03. Rules of Construction
	  	 	11	  
	 Section 1.04. Acts of Holders
	  	 	11	  
	 Section 1.05. Form of Documents Delivered to the Trustee
	  	 	12	  
	
	 ARTICLE 2
	   

	THE NOTES	  
		
	 Section 2.01. Designation and Amount
	  	 	13	  
	 Section 2.02. Form and Dating
	  	 	13	  
	 Section 2.03. Execution and Authentication
	  	 	14	  
	 Section 2.04. Registrar, Paying Agent and Conversion Agent
	  	 	15	  
	 Section 2.05. Holder Lists
	  	 	15	  
	 Section 2.06. Transfer and Exchange
	  	 	16	  
	 Section 2.07. Replacement Notes
	  	 	19	  
	 Section 2.08. Outstanding Notes
	  	 	20	  
	 Section 2.09. Temporary Notes
	  	 	21	  
	 Section 2.10. Cancellation
	  	 	21	  
	 Section 2.11. Persons Deemed Owners
	  	 	21	  
	 Section 2.12. Transfer of Notes
	  	 	21	  
	 Section 2.13. CUSIP, ISIN and Other Similar Numbers
	  	 	23	  
	 Section 2.14. Additional Notes; Repurchases
	  	 	24	  
	
	 ARTICLE 3
	   

	REPURCHASES	  
		
	 Section 3.01. Fundamental Change Permits Holders to Require Company to Purchase Notes
	  	 	24	  
	 Section 3.02. Fundamental Change Conversion Right Notice
	  	 	25	  
	 Section 3.03. Fundamental Change Purchase Notice
	  	 	26	  
	 Section 3.04. Effect of Fundamental Change Purchase Notice
	  	 	27	  
	 Section 3.05. Deposit of Fundamental Change Purchase Price
	  	 	28	  
	 Section 3.06. Notes Purchased in Part
	  	 	28	  
	 Section 3.07. Covenant to Comply with Securities Laws Upon Purchase of Notes
	  	 	28	  
	 Section 3.08. Repayment to the Company
	  	 	29	  
	 Section 3.09. Covenant Not to Purchase Notes Upon Certain Events of Default
	  	 	29	  

  
 i 

							
	 ARTICLE 4
	   

	NO REDEMPTION	  
		
	 Section 4.01. No Redemption
	  	 	29	  
	
	 ARTICLE 5
	   

	COVENANTS	  
		
	 Section 5.01. Payment of Notes
	  	 	29	  
	 Section 5.02. SEC and Other Reports
	  	 	30	  
	 Section 5.03. Compliance Certificate
	  	 	31	  
	 Section 5.04. Further Instruments and Acts
	  	 	31	  
	 Section 5.05. Provisions as to Paying Agent
	  	 	31	  
	 Section 5.06. Delivery of Certain Information
	  	 	33	  
	 Section 5.07. Appointments to Fill Vacancies in Trustee’s Office
	  	 	33	  
	 Section 5.08. Existence
	  	 	33	  
	
	 ARTICLE 6
	   

	CONSOLIDATION, MERGER AND SALE OF ASSETS	  
		
	 Section 6.01. Company May Consolidate, Merge or Sell Its Assets on Certain Terms
	  	 	33	  
	 Section 6.02. Successor Corporation to be Substituted
	  	 	34	  
	 Section 6.03. Subsidiary Guarantors May Consolidate, Merge or Sell Their Assets on Certain
Terms
	  	 	35	  
	
	 ARTICLE 7
	   

	DEFAULTS AND REMEDIES	  
		
	 Section 7.01. Events of Default
	  	 	35	  
	 Section 7.02. Acceleration
	  	 	38	  
	 Section 7.03. Other Remedies
	  	 	38	  
	 Section 7.04. Waiver of Past Defaults; Rescission of Acceleration
	  	 	38	  
	 Section 7.05. Control by Majority
	  	 	39	  
	 Section 7.06. Limitation on Suits
	  	 	39	  
	 Section 7.07. Rights of Holders to Receive Payment; Suit Therefor
	  	 	40	  
	 Section 7.08. Collection Suit by Trustee
	  	 	40	  
	 Section 7.09. Trustee May File Proofs of Claim
	  	 	40	  
	 Section 7.10. Priorities
	  	 	40	  
	 Section 7.11. Undertaking for Costs
	  	 	41	  
	 Section 7.12. Waiver of Stay or Extension Laws
	  	 	41	  
	
	 ARTICLE 8
	   

	TRUSTEE	  
		
	 Section 8.01. Duties of Trustee
	  	 	41	  
	 Section 8.02. Rights of Trustee
	  	 	43	  
	 Section 8.03. Individual Rights of Trustee
	  	 	44	  

  
 ii 

					
	 Section 8.04. Trustee’s Disclaimer
	  	 	44	  
	 Section 8.05. Notice of Defaults
	  	 	45	  
	 Section 8.06. Compensation and Indemnity
	  	 	45	  
	 Section 8.07. Replacement of Trustee
	  	 	46	  
	 Section 8.08. Acceptance by Successor Trustee
	  	 	47	  
	 Section 8.09. Successor Trustee by Merger
	  	 	47	  
	 Section 8.10. Eligibility; Disqualification
	  	 	48	  
	 Section 8.11. Trustee’s Application for Instructions From The Company
	  	 	48	  
	
	 ARTICLE 9
	   

	DISCHARGE OF INDENTURE	  
		
	 Section 9.01. Discharge of Liability on Notes
	  	 	48	  
	
	 ARTICLE 10
	   

	AMENDMENTS	  
		
	 Section 10.01. Without Consent of Holders
	  	 	49	  
	 Section 10.02. With Consent of Holders
	  	 	49	  
	 Section 10.03. Execution of Supplemental Indentures
	  	 	50	  
	 Section 10.04. Notices of Supplemental Indentures
	  	 	50	  
	 Section 10.05. Effect of Supplemental Indentures
	  	 	51	  
	 Section 10.06. Notation on or Exchange of Notes
	  	 	51	  
	 Section 10.07. Revocation and Effect of Consents, Waivers and Actions
	  	 	51	  
	
	 ARTICLE 11
	   

	CONVERSIONS	  
	 Section 11.01. Conversion Privilege and Consideration
	  	 	51	  
	 Section 11.02. Conversion Procedure
	  	 	55	  
	 Section 11.03. Settlement Upon Conversion
	  	 	57	  
	 Section 11.04. Covenants Relating to Underlying Shares
	  	 	59	  
	 Section 11.05. Adjustments to the Conversion Rate
	  	 	60	  
	 Section 11.06. Effect of Reclassification, Consolidation, Merger or Sale
	  	 	70	  
	 Section 11.07. Adjustment to Conversion Rate Upon Certain Transactions
	  	 	72	  
	 Section 11.08. Trustee’s Disclaimer
	  	 	74	  
	 ARTICLE 12
	   

	PAYMENT OF INTEREST	  
		
	 Section 12.01. Payment of Interest
	  	 	75	  
	 Section 12.02. Defaulted Interest
	  	 	75	  
	 Section 12.03. Interest Rights Preserved
	  	 	76	  

  
 iii

					
	 ARTICLE 13
	   

	MEETINGS OF HOLDERS	  
		
	 Section 13.01. Purpose of Meetings
	  	 	76	  
	 Section 13.02. Call of Meetings by Trustee
	  	 	76	  
	 Section 13.03. Call of Meetings by Company or Holders
	  	 	77	  
	 Section 13.04. Qualifications for Voting
	  	 	77	  
	 Section 13.05. Regulations
	  	 	77	  
	 Section 13.06. Voting
	  	 	78	  
	 Section 13.07. No Delay of Rights by Meeting
	  	 	78	  
	
	 ARTICLE 14
	   

	SUBSIDIARY GUARANTEES	  
		
	 Section 14.01. The Subsidiary Guarantees
	  	 	78	  
	 Section 14.02. Subsidiary Guarantee Unconditional
	  	 	79	  
	 Section 14.03. Discharge; Reinstatement
	  	 	79	  
	 Section 14.04. Waiver by the Subsidiary Guarantors
	  	 	79	  
	 Section 14.05. Subrogation and Contribution
	  	 	80	  
	 Section 14.06. Stay of Acceleration
	  	 	80	  
	 Section 14.07. Limitation on Amount of Subsidiary Guarantee
	  	 	80	  
	 Section 14.08. Execution and Delivery of Subsidiary Guarantee
	  	 	80	  
	 Section 14.09. Release of Subsidiary Guarantee
	  	 	80	  
	
	ARTICLE 15	  
	MISCELLANEOUS	  
		
	 Section 15.01. Notices
	  	 	81	  
	 Section 15.02. Certificate and Opinion as to Conditions Precedent
	  	 	82	  
	 Section 15.03. Statements Required in Certificate or Opinion
	  	 	83	  
	 Section 15.04. Severability Clause
	  	 	83	  
	 Section 15.05. Rules by Trustee
	  	 	83	  
	 Section 15.06. Governing Law
	  	 	83	  
	 Section 15.07. No Recourse Against Others
	  	 	83	  
	 Section 15.08. Calculations
	  	 	83	  
	 Section 15.09. Successors
	  	 	84	  
	 Section 15.10. Multiple Originals
	  	 	84	  
	 Section 15.11. Table of Contents; Headings
	  	 	84	  
	 Section 15.12. Force Majeure
	  	 	84	  
	 Section 15.13. Submission to Jurisdiction
	  	 	84	  
	 Section 15.14. Legal Holidays
	  	 	85	  
	 Section 15.15. No Security Interest Created
	  	 	85	  
	 Section 15.16. Benefits of Indenture
	  	 	85	  
	 Section 15.17. Waiver of Jury Trial
	  	 	85	  
		
	 Form of Note
	  	 	A-1	  
	 Form of Transfer and Assignment
	  	 	B-1	  
	 Restricted Stock Legend
	  	 	C-1	  

  
 iv 

 INDENTURE dated as of July 18, 2012 among Cal Dive International, Inc., a Delaware
corporation (“Company”), the subsidiary guarantors party hereto (the “Subsidiary Guarantors,” as more fully set forth in Section 1.01) and The Bank of New York Mellon Trust Company, N.A., a national banking
association organized under the laws of the United States, as trustee (“Trustee”). 
 Each party agrees as
follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Company’s 5.00% Convertible Senior Notes due 2017: 
 ARTICLE 1
 DEFINITIONS AND
INCORPORATION BY REFERENCE 
 Section 1.01. Definitions. 

“Additional Interest” means all amounts that may be payable pursuant to Section 5.02(b), Section 5.02(c) and
Section 7.01(c), as applicable. 
 “Affiliate” of any specified Person means any other Person, directly or
indirectly, controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct or
cause the direction of the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings
correlative to the foregoing. 
 “Applicable Procedures” means, with respect to any transfer, transaction or
other action involving a Global Note or any beneficial interest therein, the rules and procedures of the Depositary for such Note, in each case to the extent applicable to such transfer, transaction or other action as in effect from time to time.

 “Bid Solicitation Agent” means the Trustee or such other Person as may be appointed from time to time by the
Company, without prior notice to the Holders, to solicit market bid quotations for the Notes in accordance with Section 11.01(b)(ii) and the definition of “Trading Price” below and who shall be an agent of the Company. 

“Board of Directors” means the board of directors of the Company or a committee of such board duly authorized to act for
it. 
 “Board Resolution” means a copy of one or more resolutions certified by the Secretary or an Assistant
Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 

  
 1 

 “Business Day” means any day other than a Saturday, a Sunday or any other
day on which the Federal Reserve Bank of New York is authorized or obligated by law, regulation or executive order to close or be closed. 
 “Capital Stock” means, for any Person, any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated)
the equity of such Person, but excluding any debt securities convertible into such equity. 
 “Certificated
Notes” means Notes that are in registered definitive form. 
 “Close of Business” means 5:00 p.m., New
York City time. 
 “Closing Sale Price” of the Common Stock on any date 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 or, if more than one in either case, the average of the average last bid prices and the average last ask prices) on that date as reported in composite
transactions for the Relevant Stock Exchange, without regard to after-hours or extended market trading. If the Common Stock is not listed for trading on any securities exchange on the relevant date, the “Closing Sale Price” of the
Common Stock shall equal the average of the last quoted bid and ask prices for the Common Stock in the over-the-counter market on such date as reported by OTC Markets Group Inc. or a similar organization. If the Common Stock is not so quoted on such
date, the “Closing Sale Price” shall be the average of the mid-point of the last bid prices and the last ask prices for the Common Stock on such date obtained from each of at least three nationally recognized independent investment
banking firms selected by the Company for this purpose. 
 “Common Equity” means, for any Person, Capital Stock
of such Person that is generally entitled (a) to vote in the election of directors of such Person or (b) if such Person is not a corporation, to vote or otherwise participate in the selection of the governing body, partners, managers or
others that will control the management or policies of such Person. 
 “Common Stock” means the shares of the
common stock of the Company, par value $0.01 per share, existing on the Issue Date or any other shares of Capital Stock of the Company into which such shares of common stock shall be reclassified or changed. 

“Company” means the party named as such in the first paragraph of this Indenture until a successor or assign replaces it
pursuant to the applicable provisions hereof and, thereafter, means the successor or assign. 
 “Company Order”
means a written request or order signed in the name of the Company by any Officer. 
 “Continuing Director”
means a director who either was a member of the Board of Directors on July 12, 2012 or who becomes a member of the Board of Directors subsequent to such date and whose election, appointment or nomination for election by the stockholders of the
Company is duly approved by a majority of the Continuing Directors on the Board of Directors at the time of such approval, either by a specific vote or by approval of the proxy statement issued by the Company on behalf of the entire Board of
Directors in which such individual is named as nominee for director. Solely for purposes of this definition, “Board of Directors” means the board of directors of the Company and does not include any committee thereof. 

  
 2 

 “Conversion Price” means, as of any date, $1,000, divided by the
Conversion Rate as of such date (rounded to the nearest 1/100th of a cent, in accordance with Section 15.08). 

“Corporate Trust Office” means the office of the Trustee at which at any particular time its corporate trust business in
Houston, Texas shall be principally administered, which office as of the date of this instrument is located at 601 Travis Street, 16th Floor, Houston, TX, 77002, except that with respect to presentation of Notes for payment or for registration of
transfer, conversion or exchange, such term shall mean the office or agency of the Trustee at which at any particular time its corporate agency business shall be conducted, which office at the date of this instrument is located at 101 Barclay
Street, New York, New York 10286; Attention: Corporate Trust Division—Corporate Finance Unit, (or, in the case of any of such offices or agency, such other address as the Trustee may designate from time to time by notice to the Holders and the
Company). 
 “Daily Conversion Value” means, for each of the 35 consecutive VWAP Trading Days in the relevant
Observation Period, one-thirty-fifth (1/35th) of the product of (i) the Conversion Rate on such VWAP Trading Day and (ii) the Daily VWAP on such VWAP Trading Day. 

“Daily Measurement Value” means, for any conversion of Notes, the Specified Dollar Amount (if any) for such Notes,
divided by 35. 
 “Daily Settlement Amount” means, for each of the 35 consecutive VWAP Trading Days in
the relevant Observation Period: 
 (a) cash equal to the lesser of (i) the Daily Measurement Value and (ii) the Daily
Conversion Value for such VWAP Trading Day; and 
 (b) if the Daily Conversion Value for such VWAP Trading Day exceeds the Daily
Measurement Value, a number of shares of Common Stock equal to (i) the difference between the Daily Conversion Value and the Daily Measurement Value, divided by (ii) the Daily VWAP for such VWAP Trading Day. 

“Daily VWAP” means, for each of the 35 consecutive VWAP Trading Days in the relevant Observation Period, the per share
volume-weighted average price of the Common Stock as displayed under the heading “Bloomberg VWAP” on Bloomberg page “DVR <equity> AQR” (or any successor thereto if such page it not available) 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 the Common Stock on such VWAP
Trading Day, determined, if practicable, using a volume-weighted average method, by an independent, nationally recognized investment banking firm retained by the Company for this purpose). The Daily VWAP shall be determined without regard to
after-hours trading or any other trading outside of the regular trading session trading hours. 

  
 3 

 “Default” means any event which is, or after notice or passage of time or
both would be, an Event of Default. 
 “Domestic Subsidiary” means any Subsidiary formed under the laws of, or
50% or more of the assets of which are located in, the United States of America or any jurisdiction thereof. 

“DTC” means The Depository Trust Company. 
 “Ex-Dividend Date” means the first date upon which shares of the Common Stock trade on the Relevant Stock Exchange, regular way, without the right to receive the issuance, dividend or
distribution in question, from the Company or, if applicable, from the seller of the Common Stock on the Relevant Stock Exchange (in the form of due bills or otherwise) as determined by the Relevant Stock Exchange. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Fundamental Change” will be deemed to have occurred at any time after the Issue Date when any of the following occurs:

 (1) a “person” or “group” within the meaning of Section 13(d) of the Exchange Act other than the
Company, its Subsidiaries and the employee benefits plans of the Company and its Subsidiaries, has become the direct or indirect “beneficial owner,” as defined in Rule 13d-3 under the Exchange Act, of the Company’s Common Equity
representing more than 50% of the voting power of the Company’s Common Equity; 
 (2) the consummation of (A) any
recapitalization, reclassification or change of the Common Stock (other than changes resulting from a share subdivision or share combination) pursuant to which the Common Stock would be converted into, or exchanged for, stock, other securities,
other property or assets; (B) any share exchange, consolidation, merger or similar event involving the Company pursuant to which the Common Stock will be converted into, or exchanged for, cash, securities or other property; or (C) any
conveyance, transfer, sale, lease or other disposition in one transaction or a series of transactions of all or substantially all of the consolidated assets of the Company and its Subsidiaries, taken as a whole, to any Person other than one or more
of the Company’s Subsidiaries (any such consolidation, merger, transaction or series of transactions being referred to for purposes of this definition as an “event”); provided that any such event described in clause
(B) above in which the holders of all classes of the Company’s Voting Stock immediately prior to such event own, directly or indirectly, more than 50% of the Voting Stock of the continuing or surviving Person or the parent thereof
immediately after such event and such holders’ proportional voting power immediately after such event vis-à-vis each other with respect to the securities they receive in such event will be in substantially the same proportions as their
respective voting power vis-à-vis each other immediately prior to such event shall not constitute a Fundamental Change under this clause (2); 
 (3) Continuing Directors cease to constitute at least a majority of the Board of Directors of the Company; 

  
 4 

 (4) the holders of the Common Stock approve any plan or proposal for the Company’s
liquidation or dissolution; or 
 (5) the Common Stock (or any other common stock underlying the Notes) ceases to be listed or
admitted for trading on any Permitted Exchange, or the announcement by any Permitted Exchange on which the Common Stock (or such other common stock) is then listed or admitted for trading that the Common Stock (or such other common stock) will no
longer be so listed or admitted for trading, unless the Common Stock (or such other common stock) has been accepted for listing or admitted for trading on another Permitted Exchange. 

Notwithstanding the foregoing, a transaction or a series of transactions described in clause (1) or clause (2) above shall not
constitute a Fundamental Change if, at least 90% of the consideration received or to be received by holders of the Common Stock (excluding cash payments for fractional shares) in connection with such transaction or transactions consists of shares of
common stock traded on a Permitted Exchange, and, as a result of such transaction or transactions, such consideration will constitute Reference Property for the Notes pursuant to Section 11.06. 

Solely for purposes of clause (3) above, “Board of Directors” means the board of directors of the Company and does not
include any committee thereof. 
 “GAAP” means generally accepted accounting principles in the United States of
America as in effect and, to the extent optional, adopted by the Company, on the Issue Date, consistently applied. 

“Global Note” means a permanent global Note that is in the form of the Note attached hereto as Exhibit A and that is
deposited with and registered in the name of the Depositary or the nominee of the Depositary. 
 “Global Securities
Legend” means a legend set forth in Exhibit A. 
 “Holder” or “Holders” means a
Person or Persons in whose name a Note is registered in the Register. 
 “Indenture” means this Indenture, as
amended or supplemented from time to time in accordance with the terms hereof. 
 “Issue Date” means
July 18, 2012. 
 “Make-Whole Fundamental Change” means any Fundamental Change, subject to the paragraph
immediately following clause (5) of such definition but without regard to the proviso in clause (2) of such definition. 
 “Maturity Date” means July 15, 2017. 
 “Maximum
Number of Underlying Shares” means, as of any date, the product of (i) the Maximum Conversion Rate as of such date and (ii) the aggregate principal amount of outstanding Notes as of such date, expressed in thousands.

  
 5 

 “Notes” means any of the Company’s 5.00% Convertible Senior Notes due
2017 issued under this Indenture. 
 “Observation Period” means, with respect to any converted Note:

 (i) if the Conversion Date for such Note occurs prior to April 15, 2017, the 35 consecutive VWAP Trading Day period
beginning on, and including, the second Scheduled Trading Day after such Conversion Date; 
 (ii) if the Conversion Date for such
Note occurs on or after April 15, 2017, the 35 consecutive VWAP Trading Day period beginning on, and including, the 37th Scheduled Trading Day immediately preceding the Maturity Date. 

“Offering Memorandum” means the preliminary offering memorandum for the offering and sale of the Notes dated
July 12, 2012, as supplemented and/or amended by the related pricing term sheet. 
 “Officer” means, with
respect to each of the Company and any Subsidiary Guarantor, the Chairman of the Board, the Vice Chairman, the Chief Executive Officer, the President, the Chief Financial Officer, any Executive Vice President, any Senior Vice President, any Vice
President, the Treasurer or the Secretary or any Assistant Treasurer or Assistant Secretary of the Company or any Subsidiary Guarantor, as the case may be. 
 “Officer’s Certificate”, when used with respect to the Company and any Subsidiary Guarantor, means a written certificate (i) containing the information specified in Sections
15.02 and 15.03, signed in the name of the Company or such Subsidiary Guarantor, as applicable, by any Officer, and delivered to the Trustee; or (ii) if given pursuant to Section 5.03 or Section 7.01(b), signed by the principal
financial or accounting Officer of the Company or such Subsidiary Guarantor, as applicable, which certificate need not contain the information specified in Sections 15.02 and 15.03. 

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

“Opinion of Counsel” means a written opinion containing the information specified in Sections 15.02 and 15.03, from
legal counsel. The counsel may be an employee of, or counsel to, the Company who is reasonably satisfactory to the Trustee. 

“Permitted Exchange” means The New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or
any successor thereto). 
 “Person” means any individual, corporation, limited liability company, partnership,
joint venture, association, joint-stock company, trust, unincorporated organization, or government or any agency or political subdivision thereof. 
 “Relevant Stock Exchange” means The New York Stock Exchange or, if the Common Stock is not then listed on The New York Stock Exchange, the principal other United States national or
regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a United States national or regional securities exchange, the principal other market on which the Common Stock is then traded.

  
 6 

 “Restricted Securities Legend” means a legend in the form set forth in
Exhibit A, or any other substantially similar legend indicating the restricted status of the Notes under Rule 144. 

“Restricted Stock Legend” means a legend in the form set forth in Exhibit B, or any other substantially similar legend
indicating the restricted status of any shares of Common Stock issued upon conversion of the Notes under Rule 144. 

“Rule 144” means Rule 144 under the Securities Act (or any successor provision), as it may be amended from time to time.

 “Rule 144A” means Rule 144A under the Securities Act (or any successor provision), as it may be amended from
time to time. 
 “Scheduled Free Trade Date” means the one-year anniversary of the last date of original
issuance for the Notes. 
 “Scheduled Trading Day” means a day that is scheduled to be a Trading Day on the
Relevant Stock Exchange. If the Common Stock is not listed or admitted for trading on any exchange or market, “Scheduled Trading Day” means a Business Day. 
 “SEC” means the Securities and Exchange Commission. 

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

“Settlement Method” means, with respect to any conversion of Notes, Physical Settlement, Cash Settlement or Combination
Settlement, as elected (or deemed to have been elected) by the Company. 
 “Significant Subsidiary” means, with
respect to any Person, a Subsidiary that is a “significant subsidiary” of such Person as defined under Rule 1-02(w) of Regulation S-X under the Exchange Act. 
 “Specified Dollar Amount” means the maximum cash amount per $1,000 principal amount of Notes to be received upon conversion as specified in the Settlement Notice related to any converted
Notes. 
 “Stock Price” means, with respect to the Common Stock, in connection with a Make-Whole Fundamental
Change, (i) in the case of a Make-Whole Fundamental Change described in clause (2) of the definition of Fundamental Change in which the holders of the Common Stock receive only cash, the amount of cash paid per share of the Common Stock in
such Make-Whole Fundamental Change, and (ii) in all other cases, the average of the Closing Sale Prices of the Common Stock over the five Trading Day period ending on, and including, the Trading Day immediately preceding the relevant Make-Whole
Fundamental Change Effective Date. 

  
 7 

 “Subsidiary” means, with respect to any Person, any corporation,
association or other business entity of which more than 50% of the outstanding Voting Stock is owned, directly or indirectly, by, or, in the case of a partnership, the sole general partner or the managing partner or the only general partners of
which are, such Person and one or more Subsidiaries of such Person (or a combination thereof). Unless otherwise specified hereunder, “Subsidiary” means a Subsidiary of the Company. 

“Subsidiary Guarantee” means the guarantee of the Notes by the Subsidiary Guarantors pursuant to Article 14. 

“Subsidiary Guarantor” means: 
 (1) prior to the maturity, expiration or other termination of the Credit Agreement (x) each of the Company’s Wholly Owned Domestic Subsidiaries that, as of July 18, 2012, is a guarantor
under the credit agreement dated as of April 26, 2011, among the Company and the other parties thereto (as amended, restated, supplemented, modified or renewed from time to time, or any senior credit agreement that replaces or refinances such
credit agreement, the “Credit Agreement”) and (y) any Wholly Owned Domestic Subsidiary created or acquired by the Company or any of the Company’s Wholly Owned Domestic Subsidiaries after July 18, 2012 that is a
guarantor under the Credit Agreement; and 
 (2) on or after the maturity, expiration or other termination of the Credit
Agreement (x) each of the Company’s Wholly Owned Domestic Subsidiaries as of the date of such maturity, expiration or other termination and (y) any Wholly Owned Domestic Subsidiary created or acquired by the Company or any of the
Company’s Wholly Owned Domestic Subsidiaries after the date of such maturity, expiration or other termination. 

“TIA” means the Trust Indenture Act of 1939 as in effect on the Issue Date; provided, however, that if the
TIA is amended after such date, TIA means, to the extent required by any such amendment, the TIA as so amended. 

“Trading Day” means a day on which (i) trading in the Common Stock generally occurs on the Relevant Stock Exchange
and (ii) a Closing Sale Price for the Common Stock is available. If the Common Stock is not listed or admitted for trading on any exchange or market, a “Trading Day” means a Business Day. 

“Trading Price” per $1,000 principal amount of Notes on any date of determination means the average (per $1,000
principal amount of Notes) of the secondary market bid quotations obtained by the Bid Solicitation Agent for $5,000,000 principal amount of Notes at approximately 3:30 p.m., New York City time, on such determination date from three independent
nationally recognized securities dealers selected by the Company; provided that if three such bids cannot reasonably be obtained by the Bid Solicitation Agent but two such bids are obtained, then the average of the two bids shall be used, and
if only one such bid can reasonably be obtained by the Bid Solicitation Agent, that one bid shall be used. If the Bid Solicitation Agent cannot reasonably obtain at least one bid for $5,000,000 principal amount of Notes from such an independent
nationally recognized securities dealer on a determination date, then the Trading Price per $1,000 principal amount of Notes on such determination date shall be 

  
 8 

 
deemed to be less than 98% of the Intrinsic Value of the Notes on such determination date. If the Company does not so instruct the Bid Solicitation Agent to obtain bids when required under
Section 11.01(b)(ii), if the Company so instructs the Bid Solicitation Agent but the Bid Solicitation Agent fails to obtain any such bids or if the Company fails to determine the Trading Price per $1,000 principal amount of Notes, then, in each
case, the Trading Price per $1,000 principal amount of Notes shall be deemed to be less than 98% of the Intrinsic Value of the Notes on each Trading Day of such failure. 
 “Trust Officer” means any officer of the Trustee within the Corporate Trust Division – Corporate Finance Unit (or any successor division or unit) of the Trustee located at the
Corporate Trust Office of the Trustee who has direct responsibility for the administration of this Indenture and, for the purposes of Section 8.01(c)(ii) and Section 8.05 shall also mean any other officer of the Trustee to whom any
corporate trust matter is referred because of such person’s knowledge of and familiarity with the particular subject matter. 
 “Trustee” means the party named as the “Trustee” in the first paragraph of this Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture
and, thereafter, means such successor. The foregoing sentence shall likewise apply to any such subsequent successor or successors. 
 “Uniform Commercial Code” means the New York Uniform Commercial Code as in effect from time to time. 
 “Voting Stock” of a Person means Capital Stock of such Person of the class or classes pursuant to which the holders thereof have the general voting power under ordinary circumstances to
elect at least a majority of the board of directors, managers or trustees of such Person (irrespective of whether or not at the time Capital Stock of any other class or classes shall have or might have voting power by reason of the happening of any
contingency). 
 “VWAP Market Disruption Event” means (i) the Relevant Stock Exchange fails to open for
trading or (ii) the occurrence or existence prior to 1:00 p.m., New York City time, on any Scheduled Trading Day for the Common Stock for more than a one half-hour period in the aggregate during regular trading hours, of any suspension or
limitation imposed on trading (by reason of movements in price exceeding limits permitted by the Relevant Stock Exchange or otherwise) in the Common Stock or in any options contracts or futures contracts relating to the Common Stock. 

“VWAP Trading Day” means a day on which (i) there is no VWAP Market Disruption Event and (b) trading in the
Common Stock generally occurs on the Relevant Stock Exchange. If the Common Stock (or any other security for which a Daily VWAP must be determined) is not so listed or traded, “VWAP Trading Day” means a Business Day. 

“Wholly Owned” means, with respect to any Subsidiary, a Subsidiary all of the outstanding equity interests of which
(other than any director’s qualifying shares) is owned by the Company and one or more of the Company’s Wholly Owned Subsidiaries (or a combination thereof). 

  
 9 

 Section 1.02. Other Definitions. 

 

			
	 Term Section:
	  	 Defined in:

	“Act”	  	1.04
	“Additional Shares”	  	11.07(a)
	“Cash Merger”	  	11.07(e)
	“Clause A Distribution”	  	11.05(c)(ii)
	“Clause B Distribution”	  	11.05(c)(ii)
	“Clause C Distribution”	  	11.05(c)(ii)
	“Company’s Filing Obligations”	  	7.01(c)
	“Consummation Time”	  	11.05(e)
	“Conversion Agent”	  	2.04
	“Conversion Date”	  	11.02(b)
	“Conversion Obligation”	  	11.01(a)
	“Conversion Rate”	  	11.01(a)
	“Credit Agreement”	  	1.01
	“Defaulted Interest”	  	12.02
	“Depositary”	  	2.02(a)
	“Distributed Property”	  	11.05(c)(i)
	“Effective Date”	  	11.05(a)
	“Event of Default”	  	7.01(a)
	“Expiration Date”	  	11.05(e)
	“Fundamental Change Notice”	  	3.02
	“Fundamental Change Notice Date”	  	3.02
	“Fundamental Change Purchase Date”	  	3.01
	“Fundamental Change Purchase Notice”	  	3.03(a)
	“Fundamental Change Purchase Price”	  	3.01
	“Interest Payment Date”	  	12.01
	“Intrinsic Value”	  	11.01(b)(ii)
	“Make-Whole Fundamental Change Effective Date”	  	11.07(a)
	“Maximum Conversion Rate”	  	11.07(d)
	“Measurement Period”	  	11.01(b)(ii)
	“Notice of Conversion”	  	11.02(a)
	“Paying Agent”	  	2.04
	“Record Date”	  	12.01
	“record date”	  	11.05(g)
	“Reference Property”	  	11.06(a)(iv)
	“Register”	  	2.04
	“Registrar”	  	2.04
	“Resale Restriction Termination Date”	  	2.06(e)(ii)
	“Restricted Notes”	  	2.06(e)(i)
	“Sale Price Condition”	  	11.01(b)(i)
	“Settlement Amount”	  	11.03(a)(iv)
	“Share Exchange Event”	  	11.06(a)(iv)
	“Special Record Date”	  	12.02(a)
	“Specified Corporate Transaction Notice”	  	11.01(b)(iv)

  
 10 

			
	“Spin-Off”	  	11.05(c)(ii)
	“Stock Price”	  	11.07(b)
	“Successor Company”	  	6.01(a)
	“Temporary Notes”	  	2.09
	“Trading Price Condition”	  	11.01(b)(ii)
	“transfer”	  	2.06(e)(i)
	“Trigger Event”	  	11.05(c)(ii)
	“Unit of Reference Property”	  	11.06(a)(iv)
	“Valuation Period”	  	11.05(c)(ii)

 Section 1.03. Rules of Construction. 

(1) a term has the meaning assigned to it; 
 (2) an accounting term not otherwise defined has the meaning assigned to it and shall be construed in accordance with GAAP; 
 (3) “or” is not exclusive; 
 (4) “including”
means including, without limitation; 
 (5) words in the singular include the plural, and words in the plural include the
singular; 
 (6) all references to $, dollars, cash payments or money refer to the lawful currency of the United States of
America, unless the context requires otherwise; 
 (7) unless the context requires otherwise, all references to payments of
interest on the Notes shall include Additional Interest, if any, payable in accordance with the terms of Sections 5.02 or 7.01, as applicable; and 
 (8) “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. 
 Section 1.04. Acts of Holders. Any request, demand, authorization, direction, notice,
consent, waiver or other action provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in
writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and to the Company. Such instrument or instruments (and the action embodied therein and
evidenced thereby) are herein sometimes referred to as the “Act” of Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any
purpose of this Indenture and conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section 1.04. 

  
 11 

 (a) The fact and date of the execution by any Person of any such instrument or writing may
be proved by the affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to
such officer the execution thereof. Where such execution is by a signer acting in a capacity other than such signer’s individual capacity, such certificate or affidavit shall also constitute sufficient proof of such signer’s authority. The
fact and date of the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient. 

(b) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Note shall bind every future
Holder of the same Note and the Holder of every Note issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee, the Company or the
Conversion Agent in reliance thereon, whether or not notation of such action is made upon such Note. 
 (c) If the Company shall
solicit from the Holders any request, demand, authorization, direction, notice, consent, waiver or other Act, the Company may, at its option, by or pursuant to a Board Resolution, fix in advance a record date for the determination of Holders
entitled to give such request, demand, authorization, direction, notice, consent, waiver or other Act, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice,
consent, waiver or other Act may be given before or after such record date, but only the Holders of record at the Close of Business on such record date shall be deemed to be Holders for the purposes of determining whether Holders of the requisite
proportion of outstanding Notes have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the outstanding Notes shall be computed as of such record date;
provided that no such authorization, agreement or consent by the Holders on such record date shall be deemed to be effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after such
record date. 
 Section 1.05. Form of Documents Delivered to the Trustee. In any case where several matters are required
to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but
one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to the other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 

Any certificate or opinion of an Officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or
opinion of, or representations by, counsel, unless such Officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based
are erroneous. Any Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an Officer or Officers of the Company stating that the information with respect to such factual
matters is in the possession of 

  
 12 

 
the Company, unless counsel providing such Opinion of Counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such
matters are erroneous. 
 Where any Person is required to make, give or execute two or more applications, requests, consents,
certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 ARTICLE 2 
 THE NOTES 

Section 2.01. Designation and Amount. The Notes shall be designated as the “5.00% Convertible Senior Notes due 2017.”
The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is initially limited to $86,250,000, subject to Section 2.14 and except for Notes authenticated and delivered upon registration or transfer of,
or in exchange for, or in lieu of other Notes hereunder. 
 Section 2.02. Form and Dating. The Notes and the
Trustee’s certificate of authentication shall be substantially in the form of Exhibit A, which is a part of this Indenture. To the extent applicable, the Company, each of the Subsidiary Guarantors and the Trustee, by their execution and
delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. The Company shall provide any such notations,
legends or endorsements to the Trustee in writing. Each Note shall be dated the date of its authentication. Except as otherwise expressly permitted in this Indenture, all Notes shall be identical in all respects. Notwithstanding any differences
among them, all Notes issued under this Indenture shall vote and consent together on all matters as one class. 
 (a) Initial
Notes. The Notes initially shall be issued in the form of one or more Global Notes that shall be deposited with the Trustee at its Corporate Trust Office, as custodian for the Depositary and registered in the name of DTC or the nominee thereof
(DTC, or any successor thereto, and any such nominee being hereinafter referred to as the “Depositary”), duly executed by the Company and authenticated by the Trustee as hereinafter provided. 

(b) Global Notes in General. Each Global Note shall represent the outstanding Notes as shall be specified therein, and each Global
Note shall provide that it shall represent the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from time to time be reduced or
increased, as appropriate, to reflect exchanges, purchases by the Company and conversions. 
 Any adjustment of the aggregate
principal amount of a Global Note to reflect the amount of any increase or decrease in the amount of outstanding Notes represented thereby shall be made by the Trustee in accordance with instructions given by the Holder thereof as required by
Section 2.12 hereof and shall be made on the records of the Trustee and the Depositary. Payment of the principal, accrued and unpaid interest, if any, or payment of the Fundamental Change

  
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Purchase Price on the Global Note shall be made to the Holder of such Note on the date of payment, unless a record date or other means of determining Holders eligible to receive payment is
provided for herein. 
 (c) Book-Entry Provisions. This Section 2.02(c) shall apply only to Global Notes deposited
with or on behalf of the Depositary. The Company shall execute, and the Trustee shall, in accordance with Section 2.03, authenticate and deliver, Global Notes that shall be (i) registered in the name of the Depository or the nominee of the
Depositary and (ii) delivered by the Trustee to the Depositary or pursuant to the Depositary’s instructions. 
 (d)
Legends. 
 (i) Each Global Note shall bear the Global Securities Legend set forth in Exhibit A unless
otherwise directed by the Company. 
 (ii) Each Restricted Note shall bear the Restricted Securities Legend set
forth in Exhibit A. Each Note that bears or is required to bear the Restricted Securities Legend shall be subject to the restrictions on transfer set forth therein, and each Holder of such Note, by such Holder’s acceptance thereof, agrees to be
bound by all such restrictions on transfer. 
 (iii) Every stock certificate representing the shares of Common
Stock, if any, issued in the circumstances described in Section 2.06(f) hereof shall bear the Restricted Stock Legend set forth in Exhibit B unless removed in accordance with the provisions of Section 2.06(i) or otherwise at the direction
of the Company. 
 Section 2.03. Execution and Authentication. The Notes shall be executed on behalf of the Company by
any Officer. The signature of the Officer on the Notes may be manual or facsimile. 
 If an Officer whose signature is on a Note
no longer holds that office at the time the Trustee authenticates the Note, the Note shall be valid nevertheless. 
 At any time
after the Issue Date, the Company may deliver Notes executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Notes, and the Trustee, in accordance with such Company Order,
shall authenticate and deliver such Notes. 
 A Note shall not be valid until an authorized signatory of the Trustee manually
signs the certificate of authentication on the Note. The signature shall be conclusive evidence that the Note has been authenticated under this Indenture. 
 The Notes shall originally be issued only in registered form without coupons and only in denominations of $1,000 of principal amount and any integral multiple thereof. 

The Trustee may appoint authenticating agents. The Trustee may at any time after the Issue Date appoint an authenticating agent
reasonably acceptable to the Company to authenticate Notes. An authenticating agent may authenticate Notes whenever the Trustee may do so, except 

  
 14 

 
any Notes issued pursuant to Section 2.07 hereof. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent shall have
the same right to deal with the Company as the Trustee with respect to such matters for which it has been appointed. 
 Section
2.04. Registrar, Paying Agent and Conversion Agent. The Company shall maintain in the Borough of Manhattan, New York City an office or agency where Notes may be presented for registration of transfer or for exchange
(“Registrar”), an office or agency in where Notes may be presented for payment (“Paying Agent”), an office or agency where Notes may be surrendered for conversion (“Conversion Agent”) and an office
or agency where notices to or upon the Company in respect of the Notes and this Indenture may be served. The Registrar shall keep a register for the recordation of, and shall record, the names and addresses of Holders of the Notes, the Notes held by
each Holder and the transfer, exchange and conversion of Notes (the “Register”). The entries in the Register shall be conclusive, and the parties may treat each Person whose name is recorded in the Register pursuant to the terms
hereof as a Holder hereunder for all purposes of this Indenture. The Company may have one or more co-registrars, one or more additional paying agents and one or more additional conversion agents. The term Paying Agent includes any such additional
paying agents. The term Conversion Agent includes any such additional conversion agents. 
 The Company shall enter into an
appropriate agency agreement with any Registrar, Paying Agent, Conversion Agent or co-registrar not a party to this Indenture, which (i) shall implement the provisions of this Indenture relating to such agent and (ii) in the case of the
Paying Agent, shall include the provisions set forth in Section 5.05. The Company shall promptly notify the Trustee of the name and address of any such agent, and of any change therein. If the Company fails to maintain any of a Registrar,
Paying Agent or Conversion Agent, any presentations, surrenders, notices and demands required to be made by, or at the office of, any such agent may be made or served at the Corporate Trust Office or in accordance with Section 15.01;
provided that the Trustee shall be entitled to appropriate compensation therefor pursuant to Section 8.06. The Company may act as Paying Agent, Registrar, Conversion Agent or co-registrar. 

The Company initially appoints the Trustee as the Paying Agent, the Conversion Agent, and the Registrar, in connection with the Notes,
and the Corporate Trust Office to be such office or agency of the Company for the aforesaid purposes. The Company may at any time rescind the designation of the Paying Agent, Conversion Agent or the Registrar or approve a change in the location
through which any of them acts; provided that the Paying Agent, Conversion Agent and Registrar must have an office or agency located within the Borough of Manhattan, New York City. 

Section 2.05. Holder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list
available to it of the names and addresses of Holders. If the Trustee is not the Registrar, the Company shall furnish to the Trustee, promptly after each Record Date, and at such other times as the Trustee may request in writing, a list in such form
and as of such date as the Trustee may reasonably require of the names and addresses of Holders. 
  

  
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 Section 2.06. Transfer and Exchange. 

(a) Subject to Section 2.12 hereof, upon surrender for registration of transfer of any Note, together with a written instrument of
transfer satisfactory to the Registrar duly executed by the Holder or such Holder’s attorney-in-fact duly authorized in writing, at the office or agency of the Company-designated Registrar or co-Registrar pursuant to Section 2.04,
(i) the Company shall execute, and the Trustee (or any authenticating agent) shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Notes of any authorized denomination or denominations, of a
like aggregate principal amount and bearing such restrictive legends as may be required by this Indenture and (ii) the Registrar shall record the information required pursuant to Section 2.04 regarding the designated transferee or
transferees in the Register. No service charge shall be imposed by the Company, the Trustee, the Registrar, any co- Registrar or the Paying Agent for any registration of transfer or exchange of Notes, but the Company may require a Holder to pay a
sum sufficient to cover any documentary, stamp or similar issue or transfer taxes or governmental charges required in connection therewith as a result of the name of the Holder of new Notes issued upon such exchange or registration of transfer being
different from the name of the Holder of the old Notes surrendered for registration of transfer or exchange. 
 At the option of
the Holder, Notes may be exchanged for other Notes of any authorized denomination or denominations, of a like aggregate principal amount, upon surrender of the Notes to be exchanged, at such office or agency, together with a written instrument of
transfer satisfactory to the Registrar duly executed by the Holder or such Holder’s attorney-in-fact duly authorized in writing, and documents of identity and title satisfactory to Registrar. Whenever any Notes are so surrendered for exchange,
the Company shall execute, and the Trustee shall authenticate and deliver, the Notes that the Holder making the exchange is entitled to receive, bearing registration numbers not contemporaneously outstanding. 

The Company shall not be required to make, and the Registrar need not register, transfers or exchanges of any Note (x) surrendered
for conversion or (y) in respect of which a Fundamental Change Purchase Notice has been given and not validly withdrawn by the Holder thereof in accordance with the terms of this Indenture (except, in the case of a Note to be converted or
purchased in part by the Company, the portion of such Note not to be so converted or purchased). 
 (b) Notwithstanding any
provision to the contrary herein, so long as a Global Note remains outstanding and is held by or on behalf of the Depositary, transfers of a Global Note, in whole or in part, shall be made only in accordance with Section 2.12 and this
Section 2.06(b). Transfers of a Global Note shall be limited to transfers of such Global Note to the Depositary, to nominees of the Depositary or to a successor of the Depositary or such successor’s nominee. 

(c) Successive registrations and registrations of transfers and exchanges as aforesaid may be made from time to time as desired, and each
such registration shall be noted on the Register. 
 (d) Any Registrar appointed pursuant to Section 2.04 shall provide to
the Trustee such information as the Trustee may reasonably require in connection with the delivery by such Registrar of Notes upon transfer or exchange of Notes. 

  
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 (e) Transfer Restrictions. 

(i) Every Note that bears or is required under this Section 2.06(e) to bear the Restricted Securities Legend required
by Section 2.02(d) (the “Restricted Notes”) shall be subject to the restrictions on transfer set forth in this Section 2.06(e) and such legend unless such restrictions on transfer shall be eliminated or otherwise waived by
written consent of the Company, and the Holder of each such Restricted Note, by such Holder’s acceptance thereof, agrees to be bound by all such restrictions on transfer. If a request is made to remove the Restricted Securities Legend from any
Restricted Note prior to the Resale Restriction Termination Date, the legend shall not be removed unless there is delivered to the Company and the Registrar such certificates, legal opinions and other information as they may reasonable require
confirming that such Notes, upon such transfer, will not be “restricted” within the meaning of Rule 144. In such a case, upon (A) provision of such certificates, legal opinions and/or other information, or (B) notification by the
Company to the Trustee and Registrar of the sale of such Note pursuant to a registration statement that is effective at the time of such sale, the Trustee, pursuant to a Company Order, shall authenticate and deliver a Note that does not bear the
Restricted Securities Legend. 
 (ii) Except as provided elsewhere in this Indenture, until the later of
(x) the date that is one year after the last date of original issuance for the Notes or such shorter period of time as permitted by Rule 144 or any successor provision thereto and (y) such other date as may be required by applicable law
(such date the “Resale Restriction Termination Date”), any certificate evidencing such Notes (and all securities issued in exchange therefor or substitution thereof, other than Common Stock, if any, issued upon conversion thereof,
which shall bear the Restricted Stock Legend, if applicable) shall bear the Restricted Securities Legend unless (I) such Notes have been resold or otherwise transferred (A) under a registration statement that has been declared effective
under the Securities Act, or (B) in accordance with Rule 144, or (II) such requirement is waived by the Company. 
 (iii) No transfer of any Restricted Note will be registered by the Registrar unless the applicable box on the Form of Assignment and Transfer has been checked. 

(f) Legends on the Common Stock. Except as provided elsewhere in this Indenture (including, without limitation,
Section 2.06(i) below), until the Resale Restriction Termination Date, any stock certificate representing shares of Common Stock issued upon conversion of any Notes shall bear the Restricted Stock Legend unless (I) such Notes or such
Common Stock, as applicable, has been resold or otherwise transferred (i) under a registration statement that has been declared effective under the Securities Act; or (ii) in accordance with Rule 144 under the Securities Act or
(II) such requirement is waived by the Company. 
 (g) The Company shall not, and shall not permit any of its Affiliates to,
sell any Note or Common Stock issued upon the conversion of a Note, unless upon such resale such security will no longer be a “restricted security” (as defined in Rule 144). If the Restricted Securities Legend is removed from the face of a
Note and the Note is subsequently held by an Affiliate of the Company (or any Person who has been an Affiliate of the Company at any time during the immediately preceding three months), the Restricted Securities Legend shall be reinstated.

  
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 (h) Any Note (or security issued in exchange or substitution therefor) as to which such
restrictions on transfer shall have expired in accordance with their terms may, upon surrender of such Note for exchange to the Registrar in accordance with the provisions of this Section 2.06, be exchanged for a new Note or Notes, of like
tenor and aggregate principal amount, which shall not bear the Restricted Securities Legend and shall not be assigned a restricted CUSIP number. The Company shall be entitled to instruct the custodian for the Depositary (or its nominee) in writing
to so surrender any Global Note as to which such restrictions on transfer shall have expired in accordance with their terms for exchange, and, upon such instruction, such custodian shall so surrender such Global Note for exchange; and any new Global
Note so exchanged therefor shall not bear the Restricted Securities Legend and shall not be assigned a restricted CUSIP number. The Company shall promptly notify the Trustee upon the occurrence of the Scheduled Free Trade Date and promptly after a
registration statement, if any, with respect to the Notes or any Common Stock issued upon conversion of the Notes has been declared effective under the Securities Act. 
 (i) The Company shall use its commercially reasonable efforts to cause the removal, no later than the Scheduled Free Trade Date, of any Restricted Stock Legend from any shares of its Common Stock
delivered upon conversion on or prior to the Scheduled Free Trade Date. Upon the removal of such Restricted Stock Legend, the Company shall also (i) notify the holders of any such shares that such Restricted Stock Legend has been removed;
(ii) notify the transfer agent for the Common Stock to change the CUSIP number for any such shares to the applicable unrestricted CUSIP number, if such shares are in certificated form, and (iii) if such shares are in global form, comply
with Applicable Procedures regarding such de-legending and the change from a restricted to an unrestricted CUSIP number. Any shares of Common Stock (x) delivered upon the conversion of any Note to any Person that is not an Affiliate of the
Company (and has not been an Affiliate of the Company at any time during the immediately preceding three months) following the Scheduled Free Trade Date or (y) delivered upon conversion of a Note that does not, or would not be required
hereunder to, bear the Restricted Securities Legend, in each case, shall be issued without any Restricted Stock Legend. Notwithstanding anything in this Indenture or the Notes to the contrary, any Person, other than an Affiliate of the Company (or a
Person that has been an Affiliate of the Company at any time during the immediately preceding three months), who holds shares of Common Stock that were issued upon conversion shall have the right to enforce this Section 2.06(i) notwithstanding
that such Person is not a Holder of Notes. 
 (j) None of the Trustee, the Paying Agent or the Registrar shall have any
obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or
among DTC participants, members or beneficial owners in any Global Note) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms
of this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

  
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 (k) None of the Trustee, the Paying Agent or the Registrar shall have any responsibility or
obligation to any beneficial owner in a Global Note, a Depositary participant or other Person with respect to the accuracy of the records of the Depositary or its nominee or of any Depositary participant, with respect to any ownership interest in
the Notes or with respect to the delivery to any Depositary participant, beneficial owner or other Person (other than the Depositary) of any notice or the payment of any amount, under or with respect to such Notes. All notices and communications to
be given to the Holders and all payments to be made to Holders under the Notes and this Indenture shall be given or made only to or upon the order of the registered holders (which shall be the Depositary or its nominee in the case of the Global
Note). The rights of beneficial owners in the Global Note shall be exercised only through the Depositary subject to the Applicable Procedures. The Trustee, the Paying Agent and the Registrar shall be entitled to rely and shall be fully protected in
relying upon information furnished by the Depositary with respect to its members, participants and any beneficial owners. The Trustee, the Paying Agent and the Registrar shall be entitled to deal with the Depositary, and any nominee thereof, that is
the registered holder of any Global Note for all purposes of this Indenture relating to such Global Note (including the payment of principal, premium, if any, and interest and additional amounts, if any, and the giving of instructions or directions
by or to the owner or holder of a beneficial ownership interest in such Global Note) as the sole holder of such Global Note and shall have no obligations to the beneficial owners thereof. None of the Trustee, the Paying Agent or the Registrar shall
have any responsibility or liability for any acts or omissions of the Depositary with respect to such Global Note, for the records of any such depositary, including records in respect of beneficial ownership interests in respect of any such Global
Note, for any transactions between the Depositary and any Depositary participant or between or among the Depositary, any such Depositary participant and/or any holder or owner of a beneficial interest in such Global Note, or for any transfers of
beneficial interests in any such Global Note. 
 Notwithstanding the foregoing, with respect to any Global Note, nothing herein
shall prevent the Company, the Trustee, or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by any Depositary (or its nominee), as a Holder, with respect to such Global
Note or shall impair, as between such Depositary and owners of beneficial interests in such Global Note, the operation of customary practices governing the exercise of the rights of such Depositary (or its nominee) as Holder of such Global Note.

 Section 2.07. Replacement Notes. If a mutilated Note is surrendered to the Registrar or if the Holder of a Note claims
that such Note has been lost, destroyed or stolen and the Holder provides evidence of the loss, theft or destruction reasonably satisfactory to the Company and the Trustee, the Company shall issue, and the Trustee shall authenticate, a replacement
Note if the requirements of Section 8-405 of the Uniform Commercial Code are met and the Holder satisfies any other reasonable requirements of the Trustee. If required by the Trustee or the Company, such Holder shall furnish an indemnity bond
reasonably sufficient to the Company and the Trustee to protect the Company, the Trustee, the Paying Agent, the Registrar and any co-registrar from any loss that any of them may suffer if a Note is replaced. The Company and the Trustee shall not
charge the Holder for their expenses in replacing a Note; provided that upon the issuance of any new Notes under this Section 2.07, the Company may require the payment of a sum sufficient to cover any documentary, stamp or similar issue
or transfer taxes or 

  
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 governmental charges that may be imposed in relation thereto and any other expenses (including the fees and
expenses of the Trustee) connected therewith as a result of the name of the Holder of replacement Notes issued upon such issuance or being different from the name of the Holder of the mutilated Notes surrendered for replacement. 

Every new Note issued pursuant to this Section 2.07 in exchange for any mutilated Note, or in lieu of any destroyed, lost or stolen
Note, shall constitute an original additional contractual obligation of the Company, the Subsidiary Guarantors and any other obligor upon the Notes, whether or not the mutilated, destroyed, lost or stolen Note shall be at any time enforceable by
anyone, and shall be entitled to all benefits of (and shall be subject to all the limitations set forth in) this Indenture equally and proportionately with any and all other Notes duly issued hereunder. 

The provisions of this Section 2.07 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with
respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes. 
 Section 2.08. Outstanding Notes.
Notes outstanding at any time include and are limited to all Notes authenticated by the Trustee except (a) Notes cancelled by the Trustee or required to be delivered to the Trustee for cancellation in accordance with Section 2.10,
(b) Notes, or portions thereof, the principal of which has become due and payable on the Maturity Date, on a Fundamental Change Purchase Date or otherwise, and in respect of which monies in the necessary amount shall have been deposited in
trust with the Trustee or with any Paying Agent (other than the Company) or shall have been set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent), (d) Notes, or portions thereof, that have been
converted pursuant to Article 11 and that are required to be cancelled pursuant to Section 2.10 and (e) Notes repurchased by the Company, directly or indirectly, whether by the Company or its Subsidiaries, pursuant to Section 2.14
(other than Notes repurchased pursuant to cash-settled swaps or other derivatives). For the purpose of determining whether the Holders of the requisite principal amount of Notes have given or concurred in any request, demand, authorization,
direction, notice, consent, waiver or other action hereunder (including, without limitation, determinations pursuant to Articles 7 and 10), only outstanding Notes shall be considered in any such determination. In addition, for the purpose of any
such determination, Notes that are owned by the Company, by any Subsidiary thereof or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any Subsidiary thereof shall be
disregarded and deemed not to be outstanding for the purpose of any such determination; provided that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, consent, waiver or other action,
only Notes that a Trust Officer knows are so owned shall be so disregarded. Notes so owned that have been pledged in good faith may be regarded as outstanding for the purposes of this Section 2.08 if the pledgee shall establish to the
satisfaction of the Trustee the pledgee’s right to so act with respect to such Notes and that the pledgee is not the Company, a Subsidiary thereof or a Person directly or indirectly controlling or controlled by or under direct or indirect
common control with the Company or a Subsidiary thereof. In the case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee. Upon request of the Trustee, the Company shall
furnish to the Trustee promptly an Officer’s Certificate listing and identifying all Notes, if any, known by the Company to be owned or held by or for the account of any of the above described Persons; and, subject to Section 8.01, the
Trustee shall be entitled to accept such Officer’s Certificate as conclusive evidence of the facts therein set forth and of the fact that all Notes not listed therein are outstanding for the purpose of any such determination. 

  
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 Section 2.09. Temporary Notes. Until Certificated Notes are ready for delivery, the
Company may execute and the Trustee or an authenticating agent appointed by the Trustee shall, upon written request of the Company, authenticate and deliver temporary Notes (printed or lithographed) (“Temporary Notes”). Temporary
Notes shall be issuable in any authorized denomination, and substantially in the form of Certificated Notes but with such omissions, insertions and variations as may be appropriate for temporary Notes, all as may be reasonably determined by the
Company. Every such Temporary Note shall be executed by the Company and authenticated by the Trustee or such authenticating agent upon the same conditions and in substantially the same manner, and with the same effect, as the Certificated Notes. As
promptly as reasonably possible, the Company will prepare, execute and deliver to the Trustee or such authenticating agent Certificated Notes (other than any Global Note) and thereupon any or all Temporary Notes (other than any Global Note) may be
surrendered in exchange therefor, at each office or agency maintained by the Company pursuant to Section 2.04 and the Trustee or such authenticating agent shall authenticate and deliver in exchange for such Temporary Notes an equal aggregate
principal amount of Certificated Notes. Such exchange shall be made by the Company at its own expense and without any charge therefor. Until so exchanged, the Temporary Notes shall in all respects be entitled to the same benefits and subject to the
same limitations under this Indenture as Certificated Notes authenticated and delivered hereunder. 
 Section 2.10.
Cancellation. The Company shall cause all Notes surrendered for payment, repurchase (including pursuant to Section 3.01 or Section 2.14, as the case may be, other than Notes repurchased pursuant to cash-settled swaps or other
derivatives), registration of transfer or exchange or conversion, if surrendered to any Person other than the Trustee (including any of the Company’s Agents, Subsidiaries or Affiliates), to be delivered to the Trustee for cancellation. All
Notes delivered to the Trustee shall be canceled promptly by it, and no Notes shall be authenticated in exchange therefor except as expressly permitted by any of the provisions of this Indenture. The Trustee shall dispose of canceled Notes in
accordance with its customary procedures and, after such disposition, shall deliver a certificate of such disposition to the Company, at the Company’s written request in a Company Order. 

Section 2.11. Persons Deemed Owners. Prior to due presentment of a Note for registration of transfer, the Company, the Trustee and
any agent of the Company or the Trustee may treat the Person in whose name such Note is registered in the Register as the owner of such Note for the purpose of receiving payment of principal, interest, if any, or payment of the Fundamental Change
Purchase Price, for the purpose of conversion and for all other purposes whatsoever, subject to Section 2.06(i), Section 2.08 and Section 2.12(a)(ii), whether or not such Note be overdue, and neither the Company, the Trustee nor any
agent of the Company or the Trustee shall be affected by notice to the contrary. 
 Section 2.12. Transfer of Notes. 

(a) Notwithstanding any other provisions of this Indenture or the Notes, (A) transfers of a Global Note, in whole or in part, shall
be made only in accordance with Sections 2.06 and 

  
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 2.12(a)(i); and (B) transfers of a beneficial interest in a Global Note for a Certificated Note shall
comply with Sections 2.06 and 2.12(a)(ii). All such transfers shall comply with the Applicable Procedures to the extent so required. 
 (i) Transfer of Global Note. A Global Note may not be transferred, in whole or in part, to any Person other than the Depositary or a nominee or any successor thereof, and no transfer of a Global
Note to any other Person may be registered; provided that this clause (i) shall not prohibit any transfer of a Note that is issued in exchange for a Global Note but is not itself a Global Note. No transfer of a Note to any Person shall
be effective under this Indenture or the Notes unless and until such Note has been registered in the name of such Person. Nothing in this Section 2.12(a)(i) shall prohibit or render ineffective any transfer of a beneficial interest in a Global
Note effected in accordance with the other provisions of this Section 2.12(a). 
 (ii) Restrictions on
Transfer of a Beneficial Interest in a Global Note for a Certificated Note. 
 (A) A Certificated Note will
be issued and delivered: 
 (1) To each person that DTC identifies as a beneficial owner of the related Notes
only if (a) DTC notifies the Company at any time that it is unwilling or unable to continue as Depositary for the Global Notes and a successor Depositary is not appointed by the Company within 90 days of such notice; or (b) DTC ceases to
be registered as a clearing agency under the Exchange Act and a successor Depositary is not appointed by the Company within 90 days of such cessation; or 
 (2) if an Event of Default has occurred and is continuing, to each beneficial owner that DTC identifies who requests that its beneficial interests in the Notes be exchanged for Certificated Notes (in
accordance with the Applicable Procedures). 
 Notwithstanding anything to the contrary in this Indenture or in the Notes,
following the occurrence and during the continuance of an Event of Default, any beneficial owner of a Global Note may directly enforce against the Company, without the consent, solicitation, proxy, authorization or any other action of the Depositary
or any other Person, such beneficial owner’s right to exchange its beneficial interest in such Global Note for a Certificated Note in accordance with this Section 2.12(a)(ii). 

In connection with the exchange of an entire Global Note for Certificated Notes pursuant to this Section 2.12(a)(ii), such Global
Note shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute, and upon Company Order the Trustee shall authenticate and deliver, to each beneficial owner identified by DTC in exchange for its beneficial
interest in such Global Note, an equal aggregate principal amount of Certificated Notes of authorized denominations. 

  
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 (B) Upon receipt by the Registrar of instructions from the Holder of a
Global Note directing the Registrar to (x) issue one or more Certificated Notes in the amounts specified to the beneficial owner of a beneficial interest in such Global Note and (y) debit or cause to be debited an equivalent amount of
beneficial interest in such Global Note, subject to the Applicable Procedures: 
 (1) the Registrar shall notify
the Company and the Trustee of such instructions and identify the beneficial owner of and the amount of such beneficial interest in such Global Note; 
 (2) the Company shall promptly execute, and upon Company Order, the Trustee shall authenticate and deliver, to such beneficial owner Certificated Note(s) in an equivalent amount to such beneficial
interest in such Global Note; and 
 (3) the Registrar shall decrease such Global Note by such amount in
accordance with the foregoing. 
 (iii) Restrictions on Transfer of a Certificated Note for a Beneficial
Interest in a Global Note. A Certificated Note may not be exchanged for a beneficial interest in a Global Note except upon satisfaction of the requirements set forth below. 
 Upon receipt by the Trustee of a Certificated Note, duly endorsed or accompanied by appropriate instruments of transfer, in form satisfactory to the Trustee, together with written instructions directing
the Trustee to make, or to direct the Registrar to make, an adjustment on its books and records with respect to such Global Note to reflect an increase in the aggregate principal amount of the Notes represented by the Global Note, such instructions
to contain information regarding the Depositary account to be credited with such increase, then the Trustee shall cancel such Certificated Note and cause, or direct the Registrar to cause, in accordance with the standing instructions and procedures
existing between the Depositary and the Registrar, the aggregate principal amount of Notes represented by the Global Note to be increased by the aggregate principal amount of the Certificated Note to be exchanged, and shall credit or cause to be
credited to the account of the Person specified in such instructions a beneficial interest in the Global Note equal to the principal amount of the Certificated Note so cancelled. If no Global Notes are then outstanding, the Company shall issue and
the Trustee shall authenticate, upon written order of the Company in the form of an Officer’s Certificate, a new Global Note in the appropriate principal amount. 
 Section 2.13. CUSIP, ISIN and Other Similar Numbers. 
 (a) The Company, in
issuing the Notes, shall use restricted CUSIP, ISIN and other similar numbers for such Notes (if then generally in use) until such time as the Restricted Securities Legend is removed therefrom. At such time as the legend is removed from such Notes,
the Company will use an unrestricted CUSIP number for such Note, but only with respect to the Notes from which the legend has been so removed. The Trustee may use CUSIP, ISIN and other similar numbers in notices as a convenience to Holders;
provided, however, that neither the Company nor the Trustee shall have any responsibility for any defect in the CUSIP, ISIN or 

  
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other similar numbers that appears on any Note, check, advice of payment or notice, and any such notice may state that no representation is made as to the correctness of such numbers either as
printed on the Notes or as contained in any notice and that reliance may be placed only on the other identification numbers printed on the Notes, and any action taken in connection with such a notice shall not be affected by any defect in or
omission of such numbers. The Company shall promptly notify the Trustee in the event of any change in the CUSIP, ISIN or other similar numbers. 
 (b) Until such time as the Restricted Stock Legend is no longer required to be borne by any shares of Common Stock issued upon the conversion of the Notes pursuant to Section 2.06(f) or otherwise,
any shares of Common Stock issued upon conversion of the Notes shall bear a restricted CUSIP number. At such time as the Restrictive Stock Legend is no longer required to be borne by any shares of Common Stock issued upon the conversion of the Notes
pursuant to Section 2.06(f) or otherwise, any shares of Common Stock issued upon conversion of the Notes shall bear an unrestricted CUSIP number. 
 Section 2.14. Additional Notes; Repurchases. The Company may, without the consent of the Holders and notwithstanding Section 2.01, reopen this Indenture and issue additional Notes under this
Indenture with the same terms as the Notes initially issued hereunder, except for any differences in the issue price and interest accrued, if any, prior to the issue date of such additional Notes, in an unlimited aggregate principal amount;
provided that if any such additional Notes are not fungible with the Notes initially issued hereunder for U.S. federal income tax purposes, such additional Notes shall have a separate CUSIP number. The Notes initially issued hereunder and any
such additional Notes shall be treated as a single class for all purposes under this Indenture and shall vote together as one class on all matters with respect to the Notes. Prior to the issuance of any such additional Notes, the Company shall
deliver to the Trustee a Company Order, an Officer’s Certificate and an Opinion of Counsel, such Officer’s Certificate and Opinion of Counsel to cover such matters, in addition to those required by Section 15.03, as the Trustee shall
reasonably request. The Company may, to the extent permitted by law, and directly or indirectly (regardless of whether such Notes are surrendered to the Company), repurchase Notes in the open market or otherwise, whether by the Company or its
Subsidiaries or through a private or public tender or exchange offer or through counterparties to private agreements, including by cash-settled swaps or other derivatives. 
 ARTICLE 3 
 REPURCHASES 

Section 3.01. Fundamental Change Permits Holders to Require Company to Purchase Notes. If a Fundamental Change occurs at any time,
each Holder shall have the right, at its option, to require the Company to purchase for cash any or all of its Notes, or any portion of the principal amount thereof, that is equal to $1,000 or an integral multiple of $1,000 in excess thereof, on a
date (the “Fundamental Change Purchase Date”) specified by the Company in the Fundamental Change Purchase Notice for such Fundamental Change and that is not less than 20 calendar days nor more than 35 calendar days immediately
following the relevant Fundamental Change Notice Date (or, if earlier, the 20th calendar day immediately following the 

  
 24 

 
occurrence of the relevant Fundamental Change), at a price (the “Fundamental Change Purchase Price”) equal to 100% of the principal amount of the Note to be purchased,
plus accrued and unpaid interest, if any, to, but excluding, the Fundamental Change Purchase Date; provided, however, that if the Fundamental Change Purchase Date occurs after a Record Date and on or prior to the corresponding
Interest Payment Date, the Company shall instead pay the full amount of accrued and unpaid interest, if any, payable on such Interest Payment Date to the Holder of record of such Note on such Record Date and the Fundamental Change Purchase Price
shall instead be equal to 100% of the principal amount of such Note. Any Notes purchased by the Company pursuant to this Article 3 shall be paid for in cash. 
 Section 3.02. Fundamental Change Conversion Right Notice. On or before the 20th calendar day immediately following the occurrence of a Fundamental Change, the Company shall deliver written notice
of such Fundamental Change and the resulting purchase right (the “Fundamental Change Notice,” and the date of such mailing, the “Fundamental Change Notice Date”) to each Holder, the Trustee, the Conversion Agent (if
other than the Trustee) and the Paying Agent (if other than the Trustee). Such Fundamental Change Notice shall state: 
 (a) the
events causing the relevant Fundamental Change; 
 (b) the date of such Fundamental Change; 

(c) the last date on which a Holder may exercise its right to require the Company to purchase such Holder’s Notes under this Article
3; 
 (d) the Fundamental Change Purchase Price; 
 (e) the Fundamental Change Purchase Date; 
 (f) the name and address of the Paying
Agent and the Conversion Agent, if applicable; 
 (g) the Conversion Rate in effect on the Fundamental Change Notice Date and, if
the relevant Fundamental Change constitutes a Make-Whole Fundamental Change, any adjustment that will be made to the Conversion Rate for a Holder that converts its Note in connection with such Make-Whole Fundamental Change pursuant to
Section 11.07; 
 (h) that the Fundamental Change Purchase Price for any Notes as to which a Fundamental Change Purchase
Notice has been duly surrendered and not withdrawn will be paid on the later of the Fundamental Change Purchase Date and the time of book-entry transfer or delivery of such Notes; 

(i) that payment may be collected only if the Notes to be purchased are surrendered to the Paying Agent; 

(j) the procedures the Holder must follow to exercise its right to require the Company to purchase such Holder’s Notes under this
Article 3 and the procedures that a Holder must follow to convert its Note pursuant to Article 11; 

  
 25 

 (k) the conversion rights of the Notes, including an explanation that a condition to
conversion has been satisfied; 
 (l) that any Notes with respect to which a Fundamental Change Purchase Notice has been given
may be converted only if such Fundamental Change Purchase Notice is validly withdrawn in accordance with the terms of this Indenture; 
 (m) the procedures for withdrawing a Fundamental Change Purchase Notice; 
 (n) that
unless the Company defaults in making payment of such Fundamental Change Purchase Price on the Notes surrendered for purchase by the Company, interest, if any, on Notes for which a Fundamental Change Purchase Notice has been validly given and not
withdrawn will cease to accrue on and after the Fundamental Change Purchase Date; and 
 (o) the CUSIP and ISIN numbers of the
Notes. 
 Section 3.03. Fundamental Change Purchase Notice. 

(a) To exercise its purchase right upon the occurrence of a Fundamental Change under Section 3.01, a Holder or beneficial owner of a
Note, as the case may be, must (i) deliver, at any time prior to the Close of Business on the Business Day immediately preceding the Fundamental Change Purchase Date, the Notes to be purchased, duly endorsed for transfer, together with the duly
completed “Form of Fundamental Change Purchase Notice” on the reverse side of the Notes that such Holder is surrendering for purchase (such notice, a “Fundamental Change Purchase Notice”) to the Paying Agent if the Notes
that such Holder is delivering for purchase are Certificated Notes, or (ii) comply with the procedures of the Depositary for surrendering interests in global notes if the Notes (or portions thereof) being delivered for purchase are Global
Notes. The Fundamental Change Purchase Notice must state: 
 (A) if the Notes being delivered for purchase are
Certificated Notes, the certificate numbers of such Notes; 
 (B) the portion of the principal amount of the
Notes to be purchased, which portion must be $1,000 or an integral multiple in excess thereof; and 
 (C) that
such Notes shall be purchased by the Company pursuant to the terms and conditions specified in this Article 3 and the Notes; 
 provided
that the beneficial owner of an interest in a Global Note must comply with Applicable Procedures to cause the corresponding portion of such Global Note to be purchased pursuant to this Article 3. 

(b) Unless and until (i) in respect of Certificated Notes, the Paying Agent receives a validly endorsed and delivered Fundamental
Change Purchase Notice, together with any Notes to which such Fundamental Change Purchase Notice pertains, in a form that conforms with the description contained in such Fundamental Change Purchase Notice in all material aspects, or (ii) in
respect of Global Notes, the Holder complies with the procedures of the Depositary for surrendering interests in global notes, in either case, the Holder or beneficial owner of a Note, as the case may be, shall not be entitled to receive the
Fundamental Change Purchase Price for such Note. 

  
 26 

 (c) After delivering a Fundamental Change Purchase Notice to the Paying Agent, a Holder may
withdraw such Fundamental Change Purchase Notice (in whole or in part) by delivering to the Paying Agent a written notice of withdrawal at any time prior to the Close of Business on the Business Day immediately preceding the Fundamental Change
Purchase Date. Such notice of withdrawal shall state: 
 (i) the principal amount of any Notes with respect to
which the Fundamental Change Purchase Notice is to be withdrawn, which must be $1,000 or an integral multiple thereof; 
 (ii) if the Notes to be withdrawn are Certificated Notes, the certificate numbers of the Notes to be withdrawn; and 
 (iii) the principal amount, if any, which amount must be $1,000 or an integral multiple in excess thereof, that remains subject to the original Fundamental Change Purchase Notice; 

provided that, with respect to a Global Note, the beneficial owner of an interest therein must comply with Applicable Procedures to cause any
Fundamental Change Purchase Notice with respect to such Global Note (or portion thereof) to be withdrawn (in whole or in part, as the case may be) pursuant to this Article 3. 
 Section 3.04. Effect of Fundamental Change Purchase Notice. 
 (a) If a
Holder validly delivers to the Paying Agent a Fundamental Change Purchase Notice (together with all necessary endorsements) with respect to a Note, such Holder may no longer convert such Note unless and until such Holder validly withdraws such
Fundamental Change Purchase Notice in accordance with Section 3.03(c) above. 
 (b) Upon the Paying Agent’s receipt of
(i) a valid Fundamental Change Purchase Notice (together with all necessary endorsements) and (ii) the Notes to which such Fundamental Change Purchase Notice pertains, the Holder of the Notes to which such Fundamental Change Purchase
Notice pertains shall be entitled, except to the extent such Holder has validly withdrawn such Fundamental Change Purchase Notice in accordance with Section 3.03(c) above, to receive the Fundamental Change Purchase Price with respect to such
Notes promptly on the later of (i) the Fundamental Change Purchase Date and (ii) if the Notes are Certificated Notes, the date of delivery of such Notes to the Paying Agent, or, if the Notes are Global Notes, the date of book-entry
transfer. 
 (c) If, on the Fundamental Change Purchase Date, the Company, in accordance with Section 3.05 below, has
deposited with the Paying Agent money sufficient to pay the Fundamental Change Purchase Price of all of the Notes for which the Holders thereof have surrendered and not validly withdrawn a Fundamental Change Purchase Notice in accordance with
Section 3.03 above, then: 

  
 27 

 (i) such Notes shall cease to be outstanding, and interest shall cease to
accrue thereon (whether or not such Notes were delivered to the Paying Agent or book-entry transfer of such Notes has been made, as the case may be); and 
 (ii) all other rights of the Holders with respect to the surrendered Notes shall terminate (other than the right to receive payment of the Fundamental Change Purchase Price and previously accrued and
unpaid interest, if any, upon delivery or transfer of the Notes). 
 Section 3.05. Deposit of Fundamental Change Purchase
Price. Prior to 11:00 a.m., New York City time, on the Fundamental Change Purchase Date, the Company shall deposit with the Trustee or with the Paying Agent (or, if the Company or a Subsidiary or an Affiliate of either of them is acting as the
Paying Agent, shall segregate and hold in trust as provided in Section 5.05(b)) an amount of cash (in immediately available funds if deposited on such Business Day), sufficient to pay the aggregate Fundamental Change Purchase Price of all the
Notes or portions thereof which are to be purchased as of the Fundamental Change Purchase Date. Subject to receipt of funds and/or Notes by the Trustee (or other Paying Agent appointed by the Company), payment for Notes surrendered for purchase (and
not withdrawn prior to the close of business on the Business Day immediately preceding the Fundamental Change Purchase Date) will be made on the later of (i) the Fundamental Change Purchase Date (provided the Holder has satisfied the
conditions in Section 3.01) and (ii) the time of book-entry transfer or the delivery of such Note to the Trustee (or other Paying Agent appointed by the Company) by the Holder thereof in the manner required by Section 3.01 by mailing
checks for the amount payable to the Holders of such Notes entitled thereto as they shall appear in the Register; provided, however, that payments to the Depositary shall be made by wire transfer of immediately available funds to the
account of the Depositary or its nominee. 
 Section 3.06. Notes Purchased in Part. Any Certificated Note that is to be
purchased only in part shall be surrendered at the office of the Paying Agent (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed
by, the Holder thereof or such Holder’s attorney-in-fact duly authorized in writing), and the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Note, without service charge, a new Note or Notes, of any
authorized denomination as requested by such Holder in aggregate principal amount equal to, and in exchange for, the portion of the principal amount of the Note so surrendered which is not purchased, or, in the case of a Global Note, the Company
shall instruct the Registrar to decrease such Global Note by the principal amount of the purchased portion of the Note surrendered. 
 Section 3.07. Covenant to Comply with Securities Laws Upon Purchase of Notes. In connection with any offer to purchase Notes under this Article 3, the Company shall, if required, (a) comply
with the provisions of the tender offer rules under the Exchange Act that may then be applicable, (b) file a Schedule TO or any other required schedule under the Exchange Act, and (c) otherwise comply with all applicable U.S. federal and
state securities laws, in each case, so as to permit the rights and obligations under this Article 3 to be exercised in the time and in the manner specified herein. 

  
 28 

 Section 3.08. Repayment to the Company. To the extent that the aggregate amount of
cash deposited by the Company with the Paying Agent pursuant to Section 3.05 exceeds the aggregate Fundamental Change Purchase Price of the Notes or portions thereof which the Company is obligated to purchase as of the Fundamental Change
Purchase Date, then, unless otherwise agreed in writing with the Company, promptly after the Business Day following the Fundamental Change Purchase Date, the Paying Agent shall return any such excess to the Company. 

Section 3.09. Covenant Not to Purchase Notes Upon Certain Events of Default. 

(a) Notwithstanding anything to the contrary in this Article 3, no Notes may be purchased by the Company at the option of the Holders on
any Fundamental Change Purchase Date if the principal amount of the Notes has been accelerated, and such acceleration has not been rescinded, on or prior to such Fundamental Change Purchase Date (except in the case of an acceleration resulting from
a default by the Company in the payment of the Fundamental Change Purchase Price with respect to such Notes). 
 (b) If a
Fundamental Change Purchase Notice is delivered and, on the Fundamental Change Purchase Date, such Fundamental Change Purchase Notice has not been validly withdrawn in accordance with Section 3.03(c) above, and, pursuant to this
Section 3.09, the Company is not permitted to purchase Notes, the Paying Agent will deem to be withdrawn such Fundamental Change Purchase Notice. 
 (c) If a Holder surrenders a Note for purchase pursuant to this Article 3 and, on the Fundamental Change Purchase Date, pursuant to this Section 3.09, the Company is not permitted to purchase such
Note, the Paying Agent will (i) if such Note is a Certificated Note, return such Note to such Holder, and (ii) if such Note is held in book-entry form, in compliance with the Applicable Procedures, deem to be cancelled any instructions for
book-entry transfer of such Note. 
 ARTICLE 4 
 NO REDEMPTION 
 Section 4.01. No Redemption.
The Notes shall not be redeemable by the Company prior to the Maturity Date. No sinking fund is provided for the Notes. 

ARTICLE 5 

COVENANTS 
 Section 5.01. Payment of Notes. 
 (a) The Company shall promptly make all
payments on the Notes on the dates, in the manner and as otherwise required under the Notes or this Indenture. If the Company is required to pay any amounts of cash to the Trustee, the Paying Agent or the Conversion Agent, such amounts of cash shall
be deposited by the Company with the Trustee, the Paying Agent or the 

  
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Conversion Agent by 11:00 a.m., New York City time, on the required date. The Company shall pay interest on any Certificated Notes (i) to a Holder of a Certificated Note having an
aggregate principal amount of $5,000,000 or less, by check mailed to such Holder at its address as it appears in the Register and (B) to a Holder of a Certificated Note having an aggregate principal amount of more than $5,000,000, either by
check mailed to such Holder at its address as it appears in the Register or, upon written application by such Holder to the Paying Agent prior to the relevant Record Date, by wire transfer in immediately available funds to such Holder’s account
within the United States, which application shall remain in effect until the Holder notifies, in writing, the Paying Agent to the contrary. The Company shall make all payments of principal and interest on Global Notes in immediately available funds
to the Depositary or its nominee, in accordance with Applicable Procedures. 
 (b) The Company shall make any required interest
payments, if any, to the Person in whose name each Note is registered at the Close of Business on the Record Date for such interest payment. The principal, accrued and unpaid interest, if any, or payment of the Fundamental Change Purchase Price
shall be considered paid on the applicable date due if on such date the Trustee or the Paying Agent holds, in accordance with this Indenture, cash sufficient to pay all such amounts then due. 

Section 5.02. SEC and Other Reports. 
 (a) The Company shall file with the Trustee within 15 days after the same are required to be filed with the SEC, copies of any documents or reports that the Company is required to file with the SEC
pursuant to Section 13 or 15(d) of the Exchange Act (giving effect to any grace period provided by Rule 12b-25 under the Exchange Act). Any such document or report that the Company files with the SEC via the SEC’s EDGAR system shall be
deemed to be filed with the Trustee for purposes of this Section 5.02(a) at the time such documents are filed via the EDGAR system. 
 (b) If, at any time during the period beginning on, and including, the date that is six months after the last date of original issuance for the Notes, the Company fails to timely file any report that the
Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act (other than reports on Form 8-K), or the Notes are not otherwise freely tradeable by Holders other than the Company’s Affiliates (as a result of
restrictions pursuant to U.S. securities laws or the terms of this Indenture or the Notes), the Company shall pay Additional Interest on the Notes, which shall accrue at a rate of 0.50% per annum, from, and including, the later of the
date six months after the last date of original issuance for the Notes and the first date on which such failure to file occurs or the Notes are not freely tradeable until the earlier of (i) the Scheduled Free Trade Date and (ii) the date
on which the Notes become freely tradeable. 
 (c) In addition, the Company shall pay Additional Interest on the Notes, which
shall accrue at a rate of 0.50% per annum, if, on or after the Scheduled Free Trade Date, the Restricted Securities Legend on the Notes has not been removed, the Notes are assigned a restricted CUSIP or the Notes are not otherwise freely
tradeable by Holders other than the Company’s Affiliates (without restrictions pursuant to U.S. securities laws or the terms of this Indenture or the Notes). 

  
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 (d) Any Additional Interest payable in accordance with this Section 5.02 shall be in
addition to, and not in lieu of, any Additional Interest that may be payable as a result of the Company’s election pursuant to Section 7.01. 
 (e) Additional Interest will be payable in arrears on each Interest Payment Date following accrual in the same manner as regular interest on the Notes. 

(f) If the Company is required to pay Additional Interest to Holders pursuant to clause (b) or (c) above, the Company shall
provide an Officer’s Certificate to the Trustee (and if the Trustee is not the Paying Agent, to the Paying Agent) to that effect, which shall be delivered in accordance with Section 15.01 no later than five Business Days prior to the date
on which any such Additional Interest is scheduled to be paid and shall make explicit reference to this Indenture, the Notes and the Company. Such Officer’s Certificate shall set forth the amount of Additional Interest to be paid by the Company
on such payment date and direct the Trustee (or, if the Trustee is not the Paying Agent, the Paying Agent) to make payment to the extent it receives funds from the Company to do so. Unless and until the Trustee receives such an Officer’s
Certificate, subject to Article 8, the Trustee may assume without inquiry that no such Additional Interest is payable. 
 (g)
Delivery of such reports, information and documents to the Trustee is for informational purposes only, and the Trustee’s receipt of such shall not constitute actual or constructive knowledge or notice of any information contained therein or
determinable from information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on
Officer’s Certificates). 
 Section 5.03. Compliance Certificate. Within 120 days after the end of each fiscal year
(beginning with the fiscal year ending December 31, 2012) of the Company, the Company shall deliver to the Trustee at its Corporate Trust Office in accordance with Section 15.01, making specific reference to this Indenture, the Notes and
the Company, an Officer’s Certificate stating whether, to the knowledge of the signers thereof, the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture (without regard to any
period of grace or requirement of notice provided hereunder) and if the Company shall be in default, specifying all such defaults and the nature and status thereof of which they may have knowledge. 

Section 5.04. Further Instruments and Acts. Upon request of the Trustee, the Company and any Subsidiary Guarantor will execute and
deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purposes of this Indenture. 
 Section 5.05. Provisions as to Paying Agent. (a) If the Company shall appoint a Paying Agent other than the Trustee, the Company will cause such Paying Agent to execute and deliver to the
Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section 5.05: 

  
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 (i) that it will hold all sums held by it as such agent for the payment of
the principal (including the Fundamental Change Purchase Price, if applicable) of, and accrued and unpaid interest on, the Notes in trust for the benefit of the Holders of the Notes; 

(ii) that it will give the Trustee prompt notice of any failure by the Company to make any payment of the principal
(including the Fundamental Change Purchase Price, if applicable) of, and accrued and unpaid interest on, the Notes when the same shall be due and payable; and 
 (iii) that at any time during the continuance of an Event of Default, upon request of the Trustee, it will forthwith pay to the Trustee all sums so held in trust. 

The Company shall, on or before each due date of the principal (including the Fundamental Change Purchase Price, if applicable) of, or
accrued and unpaid interest on, the Notes, deposit with the Paying Agent a sum sufficient to pay such principal (including the Fundamental Change Purchase Price, if applicable) or accrued and unpaid interest, and (unless such Paying Agent is the
Trustee) the Company will promptly notify the Trustee of any failure to take such action; provided that if such deposit is made on the due date, such deposit must be received by the Paying Agent by 11:00 a.m., New York City time, on such
date. 
 (b) If the Company shall act as its own Paying Agent, it will, on or before each due date of the principal (including
the Fundamental Change Purchase Price, if applicable) of, and accrued and unpaid interest on, the Notes, set aside, segregate and hold in trust for the benefit of the Holders of the Notes a sum sufficient to pay such principal (including the
Fundamental Change Purchase Price, if applicable) and accrued and unpaid interest so becoming due and will promptly notify the Trustee in writing of any failure to take such action and of any failure by the Company to make any payment of the
principal (including the Fundamental Change Purchase Price, if applicable) of, or accrued and unpaid interest on, the Notes when the same shall become due and payable. 
 (c) Notwithstanding anything in this Section 5.05 to the contrary, the Company may, at any time, for the purpose of obtaining a satisfaction and discharge of this Indenture, or for any other reason,
pay, cause to be paid or deliver to the Trustee all sums or amounts held in trust by the Company or any Paying Agent hereunder as required by this Section 5.05, such sums or amounts to be held by the Trustee upon the trusts herein contained and
upon such payment or delivery by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent shall be released from all further liability but only with respect to such sums or amounts. 

Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal
(including the Fundamental Change Purchase Price, if applicable) of, and accrued and unpaid interest on, any Note and remaining unclaimed for two years after such principal (including the Fundamental Change Purchase Price, if applicable) or interest
has become due and payable shall be paid to the Company on request of the Company contained in an Officer’s Certificate, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Note shall thereafter, as an
unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such 

  
 32 

 
Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent,
before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in The Borough of
Manhattan, New York City, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to
the Company. 
 Section 5.06. Delivery of Certain Information. So long as any of the Notes or any shares of Common Stock
issuable upon conversion thereof will, at such time, constitute “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, the Company (and, in the case of the Notes, the Subsidiary Guarantors) shall, upon the
request of any Holder, beneficial owner or prospective purchaser of the Notes or any shares of Common Stock issuable upon conversion of the Notes, promptly furnish such Holder, beneficial owner or prospective purchaser the information required to be
delivered pursuant to Rule 144A(d)(4) under the Securities Act to facilitate the resale of the Notes or such shares of Common Stock pursuant to Rule 144A. 
 Section 5.07. Appointments to Fill Vacancies in Trustee’s Office. The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in
Section 8.07, a Trustee, so that there shall at all times be a Trustee hereunder. 
 Section 5.08. Existence.
Subject to Article 6, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence and the corporate existence of each of the Subsidiary Guarantors. 

ARTICLE 6 

CONSOLIDATION, MERGER AND SALE OF ASSETS

 Section 6.01. Company May Consolidate, Merge or Sell Its Assets on Certain Terms. The Company will not consolidate
with, merge with or into or enter into any similar transaction with, or sell, convey, transfer, lease or otherwise dispose of all or substantially all of its property and assets to, any Person, unless: 

(a) the resulting, surviving or transferee Person (the “Successor Company”) is a corporation organized and validly
existing under the laws of the United States of America, any State thereof or the District of Columbia, and such Successor Company (if other than the Company) expressly assumes, by executing and delivering to the Trustee a supplemental indenture,
all of the Company’s obligations under the Notes and under this Indenture; 
 (b) if such transaction or event constitutes a
Share Exchange Event and the relevant Reference Property includes common stock or other securities issued by a third party, such third party fully and unconditionally guarantees all obligations of the Company or such Successor Company, as the case
may be, under the Notes and this Indenture; 

  
 33 

 (c) immediately after giving effect to such transaction, no Default or Event of Default has
occurred or is continuing; and 
 (d) the Company and the Successor Company (if other than the Company) shall have delivered to
the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that: 
 (i) each of
(x) such consolidation, merger (or similar transaction), sale, conveyance, transfer, lease or other disposition and (y) such supplemental indenture complies with this Article 6; and 

(ii) all conditions precedent relating to such transaction provided herein have been complied with. 

For purposes of this Section 6.01, any sale, conveyance, transfer, lease or other disposition of properties and assets of one or more
Subsidiaries of the Company that would, if the Company had held such properties and assets directly, have constituted the sale, conveyance, transfer, lease or other disposition of substantially all of the Company’s properties and assets shall
be treated as such hereunder. 
 Section 6.02. Successor Corporation to be Substituted. Upon any such consolidation,
merger (or similar transaction), sale, conveyance, transfer or other disposition (but not upon a lease) and the assumption by the Successor Company, by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the
Trustee, of the due and punctual payment of the principal of (including the Fundamental Change Purchase Price, if applicable), accrued and unpaid interest, if any, on all of the Notes, the due and punctual delivery or payment, as the case may be, of
any consideration due upon conversion of the Notes and the due and punctual performance of all of the covenants and conditions of this Indenture to be performed by the Company, such Successor Company shall succeed to and be substituted for the
Company, with the same effect as if it had been named herein as the party of the first part. Such Successor Company thereupon may cause to be signed, and may issue in its own name, any or all of the Notes issuable hereunder which theretofore shall
not have been signed by the Company and delivered to the Trustee; and, upon the order of such Successor Company instead of the Company and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall
authenticate and shall deliver, or cause to be authenticated and delivered, any Notes that such Successor Company thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the Notes so issued shall in all respects have
the same legal rank and benefit under this Indenture as the Notes theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Notes had been issued at the date of the execution hereof. Upon any such
consolidation, merger (or similar transaction), sale, conveyance, transfer or other disposition (but not upon a lease), the Person named as the “Company” in the first paragraph of this Indenture or any successor that shall thereafter have
become such in the manner prescribed in this Article 6 may be dissolved, wound up and liquidated at any time thereafter and, except in the case of a lease, such Person shall be released from its liabilities as obligor and maker of the Notes and from
its obligations under this Indenture. 

  
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 In case of any such consolidation, merger (or similar transaction), sale, conveyance,
transfer, lease or other disposition, changes in phraseology and form (but not in substance) may be made in the Notes thereafter to be issued as may be appropriate. 
 Section 6.03. Subsidiary Guarantors May Consolidate, Merge or Sell Their Assets on Certain Terms. No Subsidiary Guarantor may (x) consolidate with, merge with or into or enter into any similar
transaction with any Person, (y) sell, convey, transfer, lease or otherwise dispose of, all or substantially all its assets as an entirety or substantially as an entirety, in one transaction or a series of related transactions, to any Person or
(z) permit any Person to merge with or into the Subsidiary Guarantor, in each case, unless the transaction is of a type described in any of the three clauses below: 
 (a) the other Person is the Company or any Wholly Owned Domestic Subsidiary that is a Subsidiary Guarantor or becomes a Subsidiary Guarantor concurrently with the transaction; 

(b) (1) either (x) the Subsidiary Guarantor is the continuing Person or (y) the resulting, surviving or transferee Person
expressly assumes by supplemental indenture all of the obligations of the Subsidiary Guarantor under its Subsidiary Guarantee; and (2) immediately after giving effect to the transaction, no Default or Event of Default has occurred and is
continuing; or 
 (c) the transaction constitutes a sale or other disposition (including by way of consolidation or merger) of
the Subsidiary Guarantor (other than to the Company or a Domestic Subsidiary of the Company) otherwise permitted hereunder. 

ARTICLE 7 

DEFAULTS AND REMEDIES 

Section 7.01. Events of Default. 
 (a) Each of the following events shall be an “Event of Default”: 
 (i) the Company defaults in the payment of interest on any Note when the same becomes due and payable, and such default continues for a period of 30 days; 

(ii) the Company defaults in the payment of the principal (including the Fundamental Change Purchase Price) of any Note
when the same becomes due and payable at the Maturity Date, upon declaration of acceleration, upon any Fundamental Change Purchase Date or otherwise; 
 (iii) the failure by the Company to deliver the consideration due upon the conversion of any Note; 
 (iv) the failure by the Company to give a Fundamental Change Notice in accordance with Section 3.02 or a Specified Corporate Transaction Notice in accordance with Section 11.01(b)(iv), in each
case, when due; 

  
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 (v) the failure by the Company to comply with its obligations under Article
6 hereof; 
 (vi) the default by the Company in the performance of, or the breach of any other covenant or
agreement of the Company in, the Notes or this Indenture (other than a covenant or agreement in respect of which a default or breach is specifically addressed in Sections 7.01(a)(i) through 7.01(a)(v) above) and such default or breach continues for
a period of 60 consecutive days after written notice of such default is delivered to the Company by the Trustee or to the Company and the Trustee by the Holders of 25% or more in aggregate principal amount of the Notes then outstanding; 

(vii) a default by the Company or any of its Subsidiaries under any mortgage, indenture or instrument under which there
may be issued, or by which there may be secured or evidenced, any indebtedness of the Company and/or any of its Subsidiaries for money borrowed in excess of $15 million (or its foreign currency equivalent) in the aggregate, whether such indebtedness
exists as of the Issue Date or is later created, which default (A) results in such indebtedness becoming or being declared due and payable or (B) constitutes a failure to pay the principal or interest of any such indebtedness when due and
payable at its stated maturity, upon required repurchase, upon declaration of acceleration or otherwise; 

(viii) a final judgment for the payment of $15 million (or its foreign currency equivalent) or more (excluding any amounts
covered by insurance) rendered against the Company or any of its Subsidiaries, which judgment is not discharged or stayed within 60 days after (A) the date on which the right to appeal thereof has expired if no such appeal has commenced, or
(B) the date on which all rights to appeal have been extinguished; 
 (ix) any Subsidiary Guarantee ceases
to be in full force and effect, other than in accordance with the terms of this Indenture, or a Subsidiary Guarantor denies or disaffirms its obligations under its Subsidiary Guarantee; 

(x) the Company or any then-current Significant Subsidiary thereof shall commence a voluntary case or other proceeding
seeking liquidation, reorganization or other relief with respect to the Company or any such Significant Subsidiary or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee,
receiver, liquidator, custodian or other similar official of the Company or any such Significant Subsidiary or any substantial part of its property, or shall consent to any such relief or to the appointment of or taking possession by any such
official in an involuntary case or other proceeding commenced against it, or shall make a general assignment for the benefit of creditors, or shall fail generally to pay its debts as they become due; or 

(xi) an involuntary case or other proceeding shall be commenced against the Company or any then-current Significant
Subsidiary thereof seeking liquidation, reorganization or other relief with respect to the Company or such Significant Subsidiary or its debts under any bankruptcy, insolvency or other similar law now or hereafter in

  
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effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of the Company or such Significant Subsidiary or any substantial part of its property,
and such involuntary case or other proceeding shall remain undismissed and unstayed for a period of 60 consecutive days. 
 (b)
Within the 30 days immediately following the occurrence of an Event of Default or any Default, the Company shall deliver to a Trust Officer of the Trustee at its Corporate Trustee Office, in accordance with Section 15.01, written notice thereof
in the form of an Officer’s Certificate describing each Event of Default or Default that has occurred and is continuing and its status and explaining what action the Company is taking or proposes to take in respect thereof, which notice shall
make explicit reference to this Indenture, the Notes and the Company. 
 (c) Notwithstanding anything to the contrary in the
Notes or elsewhere in this Indenture, at the election of the Company, the sole remedy of Holders for an Event of Default relating to the failure by the Company to comply with its obligation to file reports, information or documents with the Trustee
pursuant to Section 5.02(a) (the “Company’s Filing Obligations”) shall, for the first 180 days after the occurrence of such Event of Default, consist exclusively of the right to receive Additional Interest at a rate equal
to: 
 (i) 0.25% per annum on the principal amount of the Notes then outstanding for each day during
the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (A) the date on which such Event of Default is cured or validly waived and (B) the 90th day immediately following
the date on which such Event of Default first occurred; and 
 (ii) if such Event of Default has not been cured
or validly waived prior to the 91st day immediately following the date on which such Event of Default first occurred, 0.50% per annum on the principal amount of the Notes then outstanding for each day during the period beginning on, and
including, the 91st day immediately following the date on which such an Event of Default first occurs and ending on the earlier of (A) the date on which such Event of Default is cured or validly waived and (B) the 180th day immediately
following the date on which such Event of Default first occurs. 
 If the Company makes such election to pay Additional Interest, such Additional
Interest shall be payable in arrears on each Interest Payment Date following the date on which such Event of Default first occurs in the same manner as the stated interest payable on the Notes. Such Additional Interest shall be in addition to, and
not in lieu of, any Additional Interest that the Company is required to pay under Section 5.02(b) or (c). On the 181st day following the date on which such Event of Default first occurs (if such Event of Default is not cured or waived prior to
such 181st day), the Notes shall be subject to acceleration as provided in Section 7.02. The provisions contained in this Section 7.01(c) shall not affect the rights of Holders in the event of the occurrence of any other Event of Default.
If the Company does not elect to pay Additional Interest upon an Event of Default in accordance with this Section 7.01(c), the Notes shall be subject to acceleration as provided in Section 7.02. In order to elect to pay Additional Interest
as the sole remedy for the first 180 days after the occurrence of an Event of Default relating to the failure by the Company to comply with the Company’s Filing Obligations, the Company must notify, in the manner provided for in
Section 15.01, the Trustee, the Paying Agent (if other than 

  
 37 

 
the Trustee) and all Holders of Notes of such election at any time on or before the Close of Business on the Business Day immediately following the date on which such Event of Default first
occurs (which notice shall include a statement as to the date from which Additional Interest is payable and, in the case of the Trustee, shall be delivered to its Corporate Trust Office and shall make explicit reference to this Indenture, the Notes
and the Company). Unless and until a Trust Officer receives at the Corporate Trust Office such notice, the Trustee may assume without inquiry that no Additional Interest is payable. Upon failure by the Company to timely give such notice to pay such
Additional Interest, or if the Company has given such notice but has failed to pay such Additional Interest, the Notes shall be immediately subject to acceleration as provided in Section 7.02. If Additional Interest has been paid by the Company
directly to the Persons entitled to it, the Company shall deliver to the Trustee a certificate setting forth the particulars of such payment. 
 Section 7.02. Acceleration. If an Event of Default (other than an Event of Default specified in Section 7.01(a)(x) or 7.01(a)(xi) with respect to the Company) occurs and is continuing, and in
each and every such case, except with respect to any Notes the principal of which shall have already become due and payable, either the Trustee, by notice to the Company, or the Holders of not less than 25% in aggregate principal amount of the Notes
then outstanding, by notice to the Company and to the Trustee, may, and the Trustee at the request of such Holders (provided that the Trustee may require from such Holders indemnity or security reasonably satisfactory to it against any loss,
liability or expense caused by taking such action) shall, declare 100% of the principal amount of, and accrued and unpaid interest on, all of the Notes then outstanding, to be due and payable immediately, and upon any such declaration the same shall
be and become immediately due and payable. If an Event of Default specified in Section 7.01(a)(x) or 7.01(a)(xi) occurs with respect to the Company, then 100% of the principal amount of, and all accrued and unpaid interest on, all of the Notes
then outstanding shall be and become immediately due and payable, automatically and without any notice or other action by any Holder or the Trustee, to the fullest extent permitted by applicable law. The Holders of a majority in aggregate principal
amount of the Notes at the time outstanding, by written notice to the Trustee and the Company and without notice to any other Holder, may rescind any acceleration of the Notes in accordance with Section 7.04. 

Section 7.03. Other Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to
collect the payment of principal, accrued and unpaid interest, if any, or payment of the Fundamental Change Purchase Price on the Notes or to enforce the performance of any provision of the Notes or this Indenture. 

The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of the Notes in the
proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is
exclusive of any other remedy. All available remedies are cumulative. 
 Section 7.04. Waiver of Past Defaults; Rescission of
Acceleration. The Holders of a majority in aggregate principal amount of the Notes at the time outstanding, by written notice to the Trustee and the Company and without notice to any other Holder, may waive any Default (except with respect to
(a) any failure by the Company to pay the principal of or accrued interest 

  
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on the Notes (including the Fundamental Change Purchase Price, if applicable), (b) any failure by the Company to comply with its obligations to purchase Notes when required to do so under
Article 3, and any failure by the Company to deliver any consideration due upon conversion of the Notes, or (c) any default by the Company in respect of any covenant or provision of this Indenture or the Notes that under Section 10.02
cannot be modified or amended without the consent of each Holder) and may rescind any acceleration of the Notes if (i) such waiver and rescission would not conflict with any judgment or decree of a court of competent jurisdiction and
(ii) all existing Events of Default, other than the nonpayment of the principal of and interest on the Notes that has become due solely by such acceleration, have been cured or waived. Any such waiver or rescission shall not affect any
subsequent or other Default or impair any right consequent thereon. 
 Section 7.05. Control by Majority. The Holders of
a majority in aggregate principal amount of the Notes at the time outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee;
provided that (i) the Trustee may refuse to follow any direction that conflicts with law or this Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder or would involve the Trustee in personal
liability and (ii) for the avoidance of doubt, the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. Subject to Article 8, if an Event of Default has occurred and is continuing, the
Trustee shall be under no obligation to exercise any of its rights or powers hereunder at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security reasonably satisfactory to the Trustee
against any loss, liability or expense caused by taking such action. 
 Section 7.06. Limitation on Suits. Except as
provided in Section 7.07 and Section 8.07 and except with respect to the right of any Holder to convert its Notes, no Holder may institute any proceeding, judicial or otherwise, with respect to this Indenture or the Notes, or for the
appointment of a receiver or trustee, or for any other remedy hereunder, unless: 
 (a) such Holder shall have previously given
to the Trustee written notice that an Event of Default has occurred and is continuing; 
 (b) Holders of at least 25% in
aggregate principal amount of the Notes at the time outstanding shall have made a written request to the Trustee to take such action; 
 (c) such Holder or Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to the Trustee against the costs and other liabilities of compliance with such written request;

 (d) the Trustee shall not have complied with such written request during the first 60 days after receiving such notice,
request and offer of security or indemnity; and 
 (e) during such 60-day period, the Holders of a majority in aggregate
principal amount of the outstanding Notes shall not have given the Trustee a direction that is inconsistent with such written request. 

  
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 A Holder may not use this Indenture to prejudice the rights of any other Holder or to obtain
a preference or priority over any other Holder. 
 Section 7.07. Rights of Holders to Receive Payment; Suit Therefor.
Notwithstanding any other provision of this Indenture, each Holder shall have the right to receive payment or delivery, as the case may be, of (i) the principal (including the Fundamental Change Purchase Price, if applicable) of,
(ii) accrued and unpaid interest on and (iii) the consideration due upon conversion of, its Notes, on or after the respective due dates expressed or provided for in this Indenture, or to institute suit for the enforcement of any such
payment or delivery, as the case may be, and such right to receive such payment or delivery, as the case may be, on or after such respective dates shall not be impaired or affected without the consent of such Holder and shall not be subject to the
requirements of Section 7.06. Payments of the Fundamental Change Purchase Price, cash due upon conversion, principal and interest that are not made when due shall accrue interest per annum at the then-applicable interest rate plus one
percent from the applicable due date expressed in this Indenture. 
 Section 7.08. Collection Suit by Trustee. If an
Event of Default specified in Section 7.01(a)(i) or 7.01(a)(ii) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company for the whole amount then due and owing (together
with interest on any unpaid interest, if any, to the extent lawful) and the amounts provided for in Section 8.06. 

Section 7.09. Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee and the Holders allowed in any judicial proceedings relative to the Company, its creditors or its property and, unless prohibited by law or applicable regulations, may vote on behalf
of the Holders in any election of a trustee in bankruptcy or other Person performing similar functions, and any custodian in any such judicial proceeding is hereby authorized by each Holder to make payments to the Trustee and, if the Trustee shall
consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the
Trustee under Section 8.06. 
 Section 7.10. Priorities. If the Trustee collects any money pursuant to this Article
7, or after an Event of Default any moneys or properties distributable in respect of the Company’s or any Subsidiary Guarantor’s obligations under this Indenture, it shall pay out the money in the following order: 

FIRST: to the Trustee (including any predecessor trustee) for amounts due under Section 8.06; 

SECOND: to Holders for amounts due and unpaid on the Notes for principal, accrued and unpaid interest, if any, payment of the Fundamental
Change Purchase Price (if applicable) and the cash (if any) deliverable upon conversion of Notes then submitted for conversion, as the case may be, ratably, without preference or priority of any kind, according to such amounts due and payable on the
Notes; and 

  
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 THIRD: the balance, if any, to the Company. 

The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 7.10. At least 15 days before
such record date, the Company shall mail to each Holder and the Trustee a notice that states the record date, the payment date and the amount to be paid. 
 Section 7.11. Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee,
a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses,
against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 7.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant to
Section 7.07 or a suit by Holders of more than 10% in aggregate principal amount of the Notes at the time outstanding. 

Section 7.12. Waiver of Stay or Extension Laws. None of the Company and any Subsidary Guarantor (to the extent it may lawfully do
so) shall at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance
of this Indenture; and the Company and each of the Subsidiary Guarantors (to the extent that they may lawfully do so) hereby expressly waive all benefit or advantage of any such law, and shall not hinder, delay or impede the execution of any power
herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law had been enacted. 
 ARTICLE 8 
 TRUSTEE 

Section 8.01. Duties of Trustee. 
 (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their
exercise, that a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 
 (b)
Except during the continuance of an Event of Default: 
 (i) the Trustee undertakes to perform such duties and
only such duties as are specifically set forth in this Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements 

  
 41 

 
of this Indenture, but in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee will examine the
certificates and opinions to determine whether they conform to the requirements set forth in this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts, statements, opinions or conclusions stated
therein). 
 (c) The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act,
or its own willful misconduct, except that: 
 (i) this sub-section (c) does not limit the effect of the
remainder of this Section 8.01; 
 (ii) the Trustee shall not be liable for any error of judgment made in
good faith by a Trust Officer unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 
 (iii) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 7.05 hereof. 

(d) Whether herein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of, or
affording protection to, the Trustee is subject to this Section 8.01. 
 (e) All monies received by the Trustee shall, until
delivered to the applicable Holders as herein provided, be held in trust in a non-interest bearing account for the purposes for which they were received. Money held by the Trustee in trust hereunder need not be segregated from other funds except to
the extent required by law. The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company. 
 (f) No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of
any of its rights or powers. 
 (g) Every provision of this Indenture relating to the conduct or affecting the liability of or
affording protection to the Trustee shall be subject to the provisions of this Article 8, and the provisions of this Article 8 shall apply to the Trustee, Bid Solicitation Agent, Registrar, Paying Agent and Conversion Agent. 

(h) The Trustee shall not be deemed to have notice of a Default or an Event of Default, other than a failure by the Company to make any
payment hereunder when due, unless a Trust Officer of the Trustee has received written notice at its Corporate Trust Office thereof from the Company or any Holder. 

  
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 Section 8.02. Rights of Trustee. 

(a) The Trustee may conclusively rely upon any resolution, certificate, statement, instrument, opinion, report, notice, request,
direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties. The Trustee shall not be bound to
investigate any fact or matter stated in such resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document. The Trustee
may, however, in its discretion make such further inquiry or investigation into such facts or matters as it may see fit and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books,
records and premises of the Company, personally or by agent or attorney at the sole cost and expense of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 

(b) Whenever in the administration of this Indenture, the Trustee shall deem it desirable that a matter be proved or established prior to
acting or refraining from acting, it may require an Officer’s Certificate or an Opinion of Counsel and the Trustee may conclusively rely on an Officer’s Certificate or an Opinion of Counsel. The Trustee shall not be liable for any action
it takes or omits to take in good faith in reliance on the Officer’s Certificate or Opinion of Counsel. 
 (c) The Trustee
may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents, attorneys or custodians and the Trustee shall not be responsible for the misconduct or negligence of any agent, attorney or
custodian appointed with due care by it hereunder. 
 (d) The Trustee shall not be liable for any action it takes, suffers or
omits to take in good faith that it believes to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; provided, however, that the Trustee’s conduct does not constitute willful misconduct.

 (e) The Trustee may consult with counsel of its own selection, and the advice or any Opinion of Counsel with respect to legal
matters relating to this Indenture and the Notes shall be full and complete authorization and protection from liability in respect to any action taken, omitted or suffered by it hereunder in good faith and in reliance thereon. 

(f) The permissive rights of the Trustee to do things enumerated in this Indenture shall not be construed as a duty unless so specified
herein. 
 (g) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at
the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to the Trustee against the costs, expenses and liabilities which might be
incurred by it in compliance with such request or direction. 

  
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 (h) The rights, privileges, protections, immunities and benefits given to the Trustee,
including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder, including, without
limitation, the Registrar, Bid Solicitation Agent, Paying Agent and Conversion Agent. 
 (i) The Trustee may request that the
Company deliver a certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which certificate may be signed by any Person authorized to sign an
Officer’s Certificate, including any Person specified as so authorized in any such certificate previously delivered and not superseded. 
 (j) Any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Order, and any resolution of the Board of Directors may be sufficiently evidenced by a Board
Resolution. 
 (k) The Trustee shall not be deemed to have notice or be charged with knowledge of any Default or Event of Default
unless written notice of such Default or Event of Default from the Company or any Holder is received by a Trust Officer of the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Notes and this Indenture. 

(l) Anything in this Indenture notwithstanding, in no event shall the Trustee be liable for special, indirect, punitive or consequential
loss or damage of any kind whatsoever (including, but not limited to, loss of profit), even if the Trustee has been advised as to the likelihood of such loss or damage and regardless of the form of action. 

(m) The permissive right of the Trustee to take or refrain from taking action hereunder shall not be construed as a duty. 

Section 8.03. Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of
Notes and may otherwise deal with the Company or its affiliates with the same rights it would have if it were not Trustee. However, if the Trustee acquires any conflicting interest it must eliminate the conflict within 90 days or resign. Any Paying
Agent, Registrar, Conversion Agent or co-registrar may do the same with like rights. However, the Trustee must comply with Section 8.10. 
 Section 8.04. Trustee’s Disclaimer. The Trustee or any authenticating agent shall not be responsible for and makes no representation as to the validity, sufficiency, priority or adequacy of
this Indenture or the Notes, it shall not be accountable for the Company’s use or application of the proceeds from the Notes, and it shall not be responsible for any statement of the Company in this Indenture or in any document issued in
connection with the sale of the Notes or in the Notes other than the Trustee’s certificates of authentication. The recitals contained herein and in the Notes, other than the Trustee’s certificates of authentication, shall be taken as
statements of the Company. The Trustee shall not be responsible to make any calculation with respect to any matter under this Indenture. The Trustee shall have no duty to monitor or investigate the Company’s compliance with or the breach of, or
cause to be performed or observed, any representation, warranty or covenant made in this Indenture. 

  
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 Section 8.05. Notice of Defaults. If a Default or Event of Default occurs, is
continuing and is known to the Trustee, the Trustee shall mail to each Holder notice of such Default or Event of Default within 90 days after it occurs; provided that except in the case of a Default described in Section 7.01(a)(i),
7.01(a)(ii) or 7.01(a)(iii), the Trustee may withhold the notice if and so long as a committee of Trust Officers of the Trustee in good faith determines that withholding the notice is in the interests of the Holders. 

Section 8.06. Compensation and Indemnity. 
 (a) The Company and the Subsidiary Guarantors, jointly and severally, shall pay to the Trustee from time to time such compensation as shall be agreed upon from time to time in writing for its services.
The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable out-of-pocket fees, expenses, disbursements and advances
incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include the reasonable compensation, fees and expenses, disbursements and advances of the Trustee’s agents, counsel,
accountants and experts. The Company and the Subsidiary Guarantors, jointly and severally, shall fully indemnify each of the Trustee and each predecessor Trustee against any and all loss, liability, claim, damage or expense (including reasonable
attorneys’ fees and expenses) incurred by it arising out of or in connection with the acceptance or administration of this trust or trusts and the performance of its duties hereunder, including the costs and expenses of defending itself against
any claim (whether asserted by the Company, the Subsidiary Guarantors, any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, or in connection with enforcing the
provisions of this Section 8.06. The Trustee shall notify the Company and any relevant Subsidiary Guarantor promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company or such Subsidiary Guarantor of
any claim for which it may seek indemnity of which a Trust Officer has actually received written notice shall not relieve the Company or Subsidiary Guarantor, as applicable, of its obligations hereunder except to the extent such failure shall have
materially prejudiced the Company or the Subsidiary Guarantor, as applicable. The Company and/or Subsidiary Guarantor, as applicable, shall defend the claim and the Trustee shall cooperate in the defense. If the Trustee is advised by counsel in
writing that it may have available to it defenses which are in conflict with the defenses available to the Company and/or Subsidiary Guarantor, then the Trustee may have separate counsel and the Company and/or Subsidiary Guarantor, as applicable,
shall pay the reasonable fees and expenses of such counsel. The Company need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee through the Trustee’s own willful misconduct or gross negligence.
The Company need not pay for any settlement made by the Trustee without the Company’s consent, such consent not to be unreasonably withheld. All indemnifications and releases from liability granted hereunder to the Trustee shall extend to its
officers, directors, employees, agents, attorneys, custodians, successors and assigns. 
 (b) To secure the Company’s
payment obligations under this Section 8.06, the Trustee shall have a lien prior to the Notes on all money or property held or collected by the Trustee other than money or property held in trust to pay the principal, accrued and unpaid
interest, if any, or payment of the Fundamental Change Purchase Price on particular Notes. 

  
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 (c) The Company’s payment obligations pursuant to this Section 8.06 shall survive
the resignation or removal of the Trustee, the termination for any reason of this Indenture and the satisfaction and discharge of this Indenture. If the Trustee incurs expenses or renders services after the occurrence of a Default specified in
Section 7.01(a)(x) or Section 7.01(a)(xi) with respect to the Company, the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration
under applicable federal or state bankruptcy, insolvency or other similar law. 
 (d) “Trustee” for purposes of this
Section 8.06 shall include any predecessor Trustee; provided, however, that the negligence, willful misconduct or bad faith of any Trustee hereunder shall not affect the rights of any other Trustee hereunder. 

Section 8.07. Replacement of Trustee. (a) The Trustee may resign at any time by notifying the Company in writing and by
mailing notice thereof to the Holders at their addresses as they shall appear on the Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, executed by order
of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and have accepted appointment within 30 days after the
mailing of such notice of resignation to the Holders, the resigning Trustee may, upon ten Business Days’ notice to the Company and the Holders, petition any court of competent jurisdiction for the appointment of a successor Trustee, or any
Holder who has been a bona fide holder of a Note or Notes for at least six months may on behalf of himself or herself and all others similarly situated, petition any such court for the appointment of a successor Trustee. Such court may thereupon,
after such notice, if any, as it may deem proper and prescribe, appoint a successor Trustee. 
 (b) In case at any time any of
the following shall occur: 
 (i) the Trustee shall cease to be eligible in accordance with the provisions of
Section 8.10 and shall fail to resign after written request therefor by the Company or by any such Holder, or 
 (ii) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge
or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 
 then, in either case,
the Company may by a Board Resolution remove the Trustee and appoint a successor Trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and
one copy to the successor Trustee, or any Holder who has been a bona fide holder of a Note or Notes for at least six months may, on behalf of himself or herself and all others similarly situated, petition any court of competent jurisdiction for the
removal of the Trustee and the appointment of a successor Trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor Trustee. 

  
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 (c) The Holders of a majority in aggregate principal amount of the Notes at the time
outstanding may at any time remove the Trustee and nominate a successor Trustee that shall be deemed appointed as successor Trustee, unless within ten days after notice to the Company of such nomination the Company objects thereto, in which case the
Trustee so removed or any Holder, upon the terms and conditions and otherwise as specified in clause (a) above, may petition any court of competent jurisdiction for an appointment of a successor Trustee. 

(d) Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this
Section 8.07 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 8.08. 
 Section 8.08. Acceptance by Successor Trustee. Any successor Trustee appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Company and to its predecessor trustee
an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the
rights, powers, duties and obligations of its predecessor hereunder, with like effect as if originally named as Trustee herein; but, nevertheless, on the written request of the Company or of the successor Trustee, the Trustee ceasing to act shall,
upon payment of any amounts then due it pursuant to the provisions of Section 8.06, execute and deliver an instrument transferring to such successor Trustee all the rights and powers of the Trustee so ceasing to act. Upon request of any such
successor Trustee, the Company shall execute any and all instruments in writing for more fully and certainly vesting in and confirming to such successor Trustee all such rights and powers. Any Trustee ceasing to act shall, nevertheless, retain a
lien prior to the Notes on all money or property held or collected by the Trustee, other than money or property held in trust to pay the principal, accrued and unpaid interest, if any, or payment of the Fundamental Change Purchase Price on
particular Notes, to secure any amounts then due it pursuant to the provisions of Section 8.06. 
 No successor Trustee
shall accept appointment as provided in this Section 8.08 unless at the time of such acceptance such successor Trustee shall be eligible under the provisions of Section 8.10. 

Upon acceptance of appointment by a successor Trustee as provided in this Section 8.08, each of the Company and the successor
Trustee, at the written direction and at the expense of the Company shall mail or cause to be mailed notice of the succession of such Trustee hereunder to the Holders at their addresses as they shall appear on the Register. If the Company fails to
mail such notice within ten days after acceptance of appointment by the successor Trustee, the successor Trustee shall cause such notice to be mailed at the expense of the Company. 

Section 8.09. Successor Trustee by Merger. (a) If the Trustee consolidates with, merges or converts into, or transfers all or
substantially all its corporate trust business or assets (including administration of this Indenture) to, another Person, the resulting, surviving or transferee Person without any further act shall be the successor Trustee; provided that if
such successor Trustee is not eligible to act as Trustee pursuant to Section 8.10, such successor Trustee shall promptly resign pursuant to Section 8.07. 

  
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 (b) In case at the time such successor or successors by merger, conversion or consolidation
to the Trustee shall succeed to the trusts created by this Indenture, any of the Notes shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor Trustee, and
deliver such Notes so authenticated; and in case at that time any of the Notes shall not have been authenticated, any such successor to the Trustee may authenticate such Notes either in the name of any predecessor hereunder or in the name of the
successor to the Trustee. 
 Section 8.10. Eligibility; Disqualification. The Trustee must be a Person who is eligible to
act as an indenture trustee under the TIA and must have a combined capital and surplus of at least $50,000,000. If such Person publishes reports of condition at least annually, pursuant to law or to the requirements of any supervising or examining
authority, then for the purposes of this Section, the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee
shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect specified in this Article. 
 Section 8.11. Trustee’s Application for Instructions From The Company. Any application by the Trustee for written instructions from the Company may, at the option of the Trustee, set forth in
writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The Trustee shall not be liable to the Company for any action
taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less than three Business Days after the date any officer of the Company
actually receives such application, unless any such officer shall have consented in writing to any earlier date) unless prior to taking any such action (or the effective date in the case of any omission), the Trustee shall have received written
instructions in response to such application specifying the action to be taken or omitted. 
 ARTICLE 9 

DISCHARGE OF INDENTURE 

Section 9.01. Discharge of Liability on Notes. When (a) the Company delivers to the Registrar all outstanding Notes (other
than Notes replaced pursuant to Section 2.07) for cancellation or (b) all outstanding Notes have become due and payable, whether at the Maturity Date, at any Fundamental Change Purchase Date, upon conversion or otherwise, and the Company
irrevocably deposits with the Trustee or delivers to the Holders, as applicable, cash (and, if applicable, shares of Common Stock, solely to satisfy outstanding conversions) sufficient to pay, or satisfy the Company’s Conversion Obligation with
respect to, all amounts due and owing on all outstanding Notes (other than Notes replaced pursuant to Section 2.07), and, in either case, the Company pays all other sums payable hereunder by the Company with respect to the outstanding Notes,
then this Indenture shall, subject to Section 8.06, cease to be of further effect with respect to the Notes, any Holders or each Subsidiary Guarantor’s obligations under its Subsidiary Guarantee. The Trustee shall acknowledge satisfaction
and discharge of this Indenture with respect to the Notes on demand of the Company accompanied by an Officer’s Certificate and an Opinion of Counsel and at the cost and expense of the Company. 

  
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 ARTICLE 10 
 AMENDMENTS 
 Section 10.01. Without Consent of Holders. The
Company, the Subsidiary Guarantors and the Trustee may amend or supplement this Indenture or the Notes without the consent of any Holder to: 
 (a) cure any ambiguity, omission, defect or inconsistency in this Indenture or in the Notes in a manner that does not adversely affect any Holder; 

(b) conform the terms of this Indenture or the Notes to the “Description of Notes” section of the Offering Memorandum;

 (c) upon the occurrence of a Share Exchange Event, solely (i) provide that the Notes are convertible into Reference
Property, subject to Section 11.03, and (ii) effect the related changes to the terms of the Notes required by Section 11.06, in each case, in accordance with Section 11.06; 

(d) provide for the assumption by a Successor Company of the obligations of the Company or the assumption by a resulting, surviving or
transferee Person of the obligations of a Subsidiary Guarantor, in each case, under this Indenture pursuant to Article 6; 
 (e)
add guarantees with respect to the Notes; 
 (f) confirm and evidence the release, termination or discharge of any guarantee
securing the Notes (including any Subsidiary Guarantee) when such release, termination or discharge is permitted hereby; 
 (g)
secure the Notes; 
 (h) add to the Company’s covenants or Events of Default for the benefit of the Holders or surrender any
right or power conferred upon the Company; or 
 (i) make any change that does not adversely affect the rights of any Holder.

 Section 10.02. With Consent of Holders. With the written consent of the Holders of at least a majority in aggregate
principal amount of the Notes then outstanding (including, without limitation, consents obtained in connection with a purchase of, or tender or exchange offer for, Notes), by Act of such Holders delivered to the Company and the Trustee, the Company,
when authorized by a Board Resolution, the Subsidiary Guarantors and the Trustee, may amend or supplement this Indenture or the Notes or may prospectively waive compliance with any provisions of the Notes or this Indenture, except as described under
Article 7 and this Article 10; and provided, however, that, without the consent of each Holder of an outstanding Note affected thereby, no amendment or supplement to this Indenture or the Notes may: 

  
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 (a) reduce the percentage of the aggregate principal amount of Notes whose Holders must
consent to an amendment of this Indenture; 
 (b) reduce the rate of or extend the stated time for payment of interest on any
Note; 
 (c) reduce the principal amount or change the Maturity Date of any Note; 

(d) make any change that impairs or adversely affects the conversion rights of any Notes under Article 11 hereof or reduces the
consideration due upon conversion; 
 (e) reduce the Fundamental Change Purchase Price of any Note or amend or modify in any
manner adverse to the Holders the Company’s obligation to make such payments; 
 (f) make any Note payable in a currency, or
at a place, other than that stated in the Note; 
 (g) change the ranking of the Notes; 

(h) impair the right of any Holder to receive payment of principal of, and interest on, such Holder’s Notes on or after the due dates
therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Notes; or 
 (i) make
any change to this proviso in Section 10.02 or to Section 7.04; or 
 (j) make any change in any Subsidiary
Guarantee that would adversely affect any Holder of Notes. 
 It shall not be necessary for the consent of the Holders under this
Section 10.02 to approve the particular form of any proposed amendment, but it shall be sufficient if such consent approves the substance thereof. 
 Section 10.03. Execution of Supplemental Indentures. Upon the request of the Company, the Trustee shall sign any supplemental indenture authorized pursuant to this Article 10. In executing any
supplemental indenture hereto, the Trustee shall receive, and (subject to the provisions of Section 8.01) shall be fully protected in relying upon, an Officer’s Certificate and an Opinion of Counsel stating that such supplemental indenture
is authorized and permitted under this Indenture. 
 Section 10.04. Notices of Supplemental Indentures. After an
amendment or supplement to this Indenture or the Notes pursuant to Sections 10.01 or 10.02 becomes effective, the Company shall promptly mail to each Holder a notice briefly describing such amendment or supplement to this Indenture. The failure to
deliver such notice, or any defect in such notice, shall not impair or affect the validity of such amendment or supplement to this Indenture. 

  
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 Section 10.05. Effect of Supplemental Indentures. Upon the execution of any
supplemental indenture under this Article 10, (a) this Indenture shall be modified in accordance therewith, (b) such supplemental indenture shall form a part of this Indenture for all purposes, and (c) every Holder of Notes
theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 
 Section 10.06. Notation on or
Exchange of Notes. Notes authenticated and delivered after the execution of any supplemental indenture pursuant to this Article 10 may, and shall, if required by the Trustee, bear a notation in form approved by the Trustee as to any matter
provided for in such supplemental indenture. If the Company shall so determine, new Notes so modified as to conform to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in
exchange for outstanding Notes. 
 Section 10.07. Revocation and Effect of Consents, Waivers and Actions. A consent to an
amendment or a waiver by a Holder of a Note shall bind the Holder and every subsequent Holder of that Note or portion of the Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent or waiver is not
made on the Note. However, any such Holder or subsequent Holder may revoke the consent or waiver as to such Holder’s Note or portion of the Note if the Trustee receives the notice of revocation before the date the supplemental indenture setting
forth the amendment or waiver becomes effective. After an amendment or waiver becomes effective, it shall bind every Holder. An amendment or waiver becomes effective in accordance with the terms of the supplemental indenture, which shall become
effective upon the execution thereof by the Trustee. 
 The Company may, but shall not be obligated to, fix a record date for
the purpose of determining the Holders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then those Persons who were Holders at such
record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be Holders after such record
date. No such consent shall be valid or effective for more than 120 days after such record date. 
 ARTICLE 11 

CONVERSIONS 
 Section 11.01. Conversion Privilege and Consideration. 
 (a) Subject to and upon
compliance with the provisions of this Indenture, a Holder shall have the right, at such Holder’s option, to convert the principal amount of its Notes, or any portion of such principal amount that is equal to $1,000 or an integral multiple in
excess thereof, (i) subject to satisfaction of the conditions described in Section 11.01(b), at any time prior to the Close of Business on the Business Day immediately preceding April 15, 2017 under the circumstances and during the
periods set forth in Section 11.01(b), and (ii) irrespective of the conditions described in Section 11.01(b), on or after April 15, 2017 and prior to the Close of Business on the Business Day immediately preceding the Maturity
Date, in each case, at an initial conversion rate of 445.6328 shares of Common Stock (subject to adjustment as provided in this Article 11, the “Conversion Rate”) per $1,000 principal amount of Notes (subject to, and in accordance
with, the settlement provisions of Section 11.03, the “Conversion Obligation”). 

  
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 (b) 
 (i) Prior to the Close of Business on the Business Day immediately preceding April 15, 2017, a Holder may surrender all of its Notes, or any portion of the principal amount of its Notes that is equal
to $1,000 or an integral multiple in excess thereof, for conversion during any calendar quarter (and only during such calendar quarter) commencing after September 30, 2012, if, for at least 20 Trading Days (whether or not consecutive) during
the 30 consecutive Trading Day period ending on the last Trading Day of the immediately preceding calendar quarter, the Closing Sale Price of the Common Stock on such Trading Day is greater than or equal to 120% of the Conversion Price on such
Trading Day (such condition, the “Sale Price Condition”). The Company shall determine whether the Sale Price Condition has been met and the Notes are convertible. If the Sale Price Condition has been met, the Company shall notify
the Holders, the Trustee and the Conversion Agent (if other than the Trustee) of its satisfaction and of the resulting right of Holders to convert their Notes within one Business Day of the Sale Price Condition being met. 

(ii) Prior to the Close of Business on the Business Day immediately preceding April 15, 2017, a Holder may surrender
all of its Notes, or any portion of the principal amount of its Notes that is equal to $1,000 or an integral multiple in excess thereof, for conversion during the five consecutive Business Day period immediately following any five consecutive
Trading Day period (the “Measurement Period”) in which, for each Trading Day of such Measurement Period, 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 in this Section 11.01(b)(ii) and the definition of “Trading Price” in Section 1.01), was less than 98% of the product of (x) the Closing Sale Price of the Common Stock on such Trading Day and
(y) the Conversion Rate on such Trading Day (such product, the “Intrinsic Value,” and such condition, the “Trading Price Condition”). The Trading Prices shall be determined by the Company pursuant to this
Section 11.01(b)(ii) and the definition of Trading Price in Section 1.01. The Company shall provide written notice, including detailed contact information, to the Bid Solicitation Agent (if other than the Company) of the three independent
nationally recognized independent securities dealers selected by the Company, and not the Bid Solicitation Agent, pursuant to the definition of “Trading Price” in Section 1.01 who are available and willing to furnish secondary market
bid quotations, along with appropriate contact information for each. 
 (A) The Bid Solicitation Agent shall have
no obligation to obtain secondary market bid quotations unless the Company has requested, in writing, that the Bid Solicitation Agent do so. The Company shall have no obligation to make such a request or determine the Trading Price unless one or
more Holders of at least $1,000,000 aggregate principal amount of Notes (x) provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Notes on the immediately following Trading Day would be less than
98% of the Intrinsic Value of the Notes on such Trading Day and (y) requests that the Company request the Bid Solicitation Agent obtain such bids. 

  
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 (B) Upon receipt from a Holder of such evidence and such a request, the
Company shall instruct the Bid Solicitation Agent to obtain such bids and the Company will determine the Trading Price per $1,000 principal amount of Notes beginning on the next Trading Day and on each successive Trading Day until a Trading Day
occurs in which the Trading Price per $1,000 principal amount of Notes for such Trading Day is greater than or equal to 98% of the Intrinsic Value of the Notes on such Trading Day. 

(C) The Company shall determine the Trading Price based upon the secondary market bid quotations the Company receives from
the Bid Solicitation Agent, whether the Trading Price Condition has been met on any Trading Day and whether the Notes are convertible on each of the next five consecutive Business Days. If the Trading Price Condition has been met on any Trading Day,
the Company shall notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee) on such Trading Day of its satisfaction and of the resulting right of Holders to convert their Notes on each of the next five consecutive Business
Days. If, on any Trading Day after the Trading Price Condition has been met, the Company determines, based on secondary market bid quotations obtained by the Bid Solicitation Agent, that the Trading Price per $1,000 principal amount of Notes for
such Trading Day is greater than or equal to 98% of the Intrinsic Value of the Notes on such Trading Day, the Company shall promptly so notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee) that the Trading Price
Condition is no longer met. 
 (iii) If, prior to the Close of Business on April 15, 2017, the Company
elects to: 
 (A) issue to all or substantially all holders of the Common Stock rights, options or warrants
entitling them, for a period of not more than 60 calendar days after the announcement date of such issuance, to subscribe for or purchase shares of the Common Stock at a price per share of Common Stock less than the average of the Closing Sale
Prices of the Common Stock for the ten consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such issuance; or 

(B) distribute to all or substantially all holders of the Common Stock the Company’s assets, debt securities or
rights to purchase securities of the Company, which distribution has a per share value, as reasonably determined by the Board of Directors, exceeding 10% of the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the date
of announcement of such distribution, 
 then, in either case, at least 45 Scheduled Trading Days prior to the Ex-Dividend Date
for such issuance or distribution, the Company shall mail notice to the Holders and the Trustee describing such issuance or distribution, the Holders’ rights to convert their 

  
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Notes in accordance with this Section 11.01(b)(iii), the Conversion Rate in effect on the date the Company mails such notice, any adjustments to the Conversion Rate that must be made as a
result of such issuance or distribution, and the effective date for any such adjustments. Once the Company has given such notice to the Holders, a Holder may surrender all of its Notes, or any portion of the principal amount of its Notes that is
equal to $1,000 or an integral multiple in excess thereof, for conversion at any time until the earlier of (x) the Close of Business on the Business Day immediately preceding such Ex-Dividend Date and (y) the Company’s announcement
that such issuance or distribution will not take place, in each case, even if the Notes are not otherwise convertible at such time. 
 (iv) If, prior to the Close of Business on April 15, 2017, the Company or any third party publicly announces a transaction or event that would, if consummated, constitute a Fundamental Change, a
Make-Whole Fundamental Change or Share Exchange Event, regardless of whether Holders would have the right to require the Company to purchase their Notes pursuant to Section 3.01, or any such transaction or event occurs without any public
announcement, the Company shall mail notice (a “Specified Corporate Transaction Notice”) of such transaction or event to the Holders and the Trustee within one Business Day of the first public announcement of such transaction or
event or, in the case that no public announcement is made, the occurrence of such transaction or event. Upon receiving notice or otherwise becoming aware of a potential Fundamental Change, Make-Whole Fundamental Change or Share Exchange Event, the
Company shall announce or cause the announcement of such potential transaction or event in time to deliver the related Specified Corporate Transaction Notice at least 45 Scheduled Trading Days prior to the anticipated effective date for such
potential Fundamental Change, Make-Whole Fundamental Change or Share Exchange Event. For any such potential Fundamental Change, Make-Whole Fundamental Change or Share Exchange Event, the Specified Corporate Transaction Notice shall describe:

 (A) the potential transaction or event; 

(B) the anticipated effective date of such transaction or event; 

(C) the Holders’ right to convert their Notes in accordance with this Section 11.01(b)(iv); 

(D) the Conversion Rate in effect on the date the Company mails such notice; 

(E) that an adjustment to the Conversion Rate is expected to be made pursuant to Section 11.05 as a result of such
transaction or event and the formula for determining such adjustment; 
 (F) whether the relevant transaction or
event is expected to constitute a Share Exchange Event, and, if so, that the Notes will become convertible into Reference Property, subject to the settlement provisions of the Indenture; 

  
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 (G) whether the relevant transaction or event is expected to constitute a
Fundamental Change, and, if so, that Holders will have the right to require the Company to purchase their Notes pursuant to Article 3; and 
 (H) whether the relevant transaction or event is expected to constitute a Make-Whole Fundamental Change, and, if so, that the Conversion Rate will be increased under Section 11.07 for Notes converted
in connection with such Make-Whole Fundamental Change. 
 Upon the Company’s delivery of a Specified Corporate Transaction
Notice with respect to any potential Fundamental Change, Make-Whole Fundamental Change or Share Exchange Event, a Holder may surrender all of its Notes, or any portion of the principal amount of its Notes that is equal to $1,000 or an integral
multiple in excess thereof, for conversion from, and including, the Business Day immediately following the delivery of the related Specified Corporate Transaction Notice to, and including, the 35th Trading Day immediately following the effective
date of such transaction or event or, if such transaction or event constitutes a Fundamental Change, the Business Day immediately preceding the related Fundamental Change Purchase Date. 

Section 11.02. Conversion Procedure. 
 (a) To convert a Note or portion thereof, a Holder or beneficial owner, as the case may be, must (i) in the case of a Global Note, (A) comply with the procedures of the Depositary then in effect
for converting a beneficial interest in a global note, (B) if applicable, pay all funds required under Sections 11.02(g) and 11.02(h) below and (C) comply with any requirements of the Conversion Agent, and (ii) in the case of a
Certificated Note, (A) complete and manually sign the conversion notice in the form attached to such Certificated Note (a “Notice of Conversion”) or a facsimile of the Notice of Conversion, (B) deliver the Notice of
Conversion, which is irrevocable, and the Certificated Note to the Conversion Agent, (C) if required, furnish appropriate endorsements and transfer documents, (D) if applicable, pay all funds required under Section 11.02(h) below, and
(E) if applicable, pay all funds required under Section 11.02(g) below. 
 (b) A Note shall be deemed to have been
converted at the Close of Business on the first Business Day (the “Conversion Date”) on which (i) the Holder thereof satisfies all of the requirements set forth in Section 11.02(a) with respect to such Note and
(ii) the conversion of such Note is not otherwise prohibited by Section 3.04(a) hereof. Subject to Section 11.07(e)(i) and Section 11.06, the Company shall pay or deliver, as the case may be, the consideration due in respect of
the Conversion Obligation on the third Business Day immediately following the relevant Conversion Date, if the Company elects Physical Settlement, or on the third Business Day immediately following the last VWAP Trading Day of the relevant
Observation Period, in the case of any other Settlement Method. 
 (c) If the last day during any period on which a Note may be
converted is not a Business Day, the Note may be surrendered on the immediately following day that is a Business Day. Upon the conversion of a Note, the Conversion Agent, as promptly as possible, and in no event later than one Business Day
immediately following the Conversion Date for the Note, will 

  
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provide the Company with notice of the conversion of the Note, and the Company, as promptly as possible, and in no event later than two Business Days after such Conversion Date, will notify the
Trustee, if other than the Conversion Agent, of the conversion of the Note. 
 (d) If a Holder converts the entire principal
amount of a Note, such Person will no longer be a Holder of such Note, except that (i) such Holder shall have the right hereunder to receive the consideration due upon conversion and (ii) if the relevant Conversion Date occurred between a
Record Date and on or prior to the corresponding Interest Payment Date, the Holder of record of such Note shall have the right to receive the related interest payment on such Interest Payment Date. 

(e) If a Holder surrenders only a portion of a Certificated Note for conversion, promptly after the Conversion Date for such portion, the
Company shall execute and the Trustee shall authenticate and deliver to such Holder, a new Certificated Note in an authorized denomination equal to the aggregate principal amount of the unconverted portion of the surrendered Note. Upon the
conversion of an interest in a Global Note, the Trustee shall promptly make a notation on the “Schedule of Exchanges of Notes” of such Global Note as to the reduction in the principal amount represented thereby. The Company shall notify
the Trustee in writing upon any conversion of a Note effected through any Conversion Agent other than the Trustee. 
 (f) If any
shares of Common Stock are issuable upon the conversion of a Note, the Person in whose name the certificate or certificates for such shares of Common Stock will be registered shall become the holder of record of such shares as of the relevant
Conversion Date (if the Company elects to satisfy the related Conversion Obligation by Physical Settlement) or the last VWAP Trading Day of the relevant Observation Period (if the Company elects to satisfy the related Conversion Obligation by
Combination Settlement), as the case may be, for such Note. 
 (g) Notwithstanding Section 11.03(d), if a Holder converts
its Note after the Close of Business on a Record Date but prior to the Open of Business on the Interest Payment Date corresponding to such Record Date, the Holder of such Note at the Close of Business on such Record Date shall receive the full
amount of interest payable on such Note on such corresponding Interest Payment Date, notwithstanding the conversion. Any Note converted during the period beginning at the Close of Business on any Record Date and ending at the Open of Business on the
Interest Payment Date corresponding to such Record Date must be accompanied by funds equal to the full amount of interest payable on such Note on such corresponding Interest Payment Date; provided, however, that no such payment need be
made: (i) for Notes surrendered for conversion after the Close of Business on the Record Date immediately preceding the Maturity Date, (ii) if the Company has specified a Fundamental Change Purchase Date that is after such Record Date and
on or prior to such corresponding Interest Payment Date or (iii) to the extent of any Defaulted Interest, if any Defaulted Interest exists at the time of conversion with respect to such Note. 

(h) If a Holder converts a Note, the Company shall pay any documentary, stamp or similar issue or transfer tax due on the issuance of any
shares of Common Stock upon such conversion; provided that if such tax is due because such converting Holder requested that such shares of Common Stock be issued in a name other than such Holder’s name, such Holder shall pay such tax.

  
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 (i) The Company shall make all determinations of whether the Notes are convertible at any
time in accordance with this Indenture. 
 Section 11.03. Settlement Upon Conversion. 

(a) Except as provided in Section 11.07(e), upon conversion of any Note, the Company shall pay or deliver, as the case may be, to a
converting Holder, in respect of each $1,000 principal amount of Notes being converted, cash (“Cash Settlement”), shares of Common Stock, together with cash, if applicable, in lieu of any fractional share of Common Stock in
accordance with Section 11.03(b) (“Physical Settlement”) or a combination of cash and shares of Common Stock, together with cash, if applicable, in lieu of any fractional share of Common Stock in accordance with
Section 11.03(b) (“Combination Settlement”), at its election, as set forth in this Section 11.03. 
 (i) All conversions occurring on or after April 15, 2017 shall be settled using the same Settlement Method. 
 (ii) Except for any conversions that occur on or after April 15, 2017, the Company shall use the same Settlement Method for all conversions occurring on the same Conversion Date, but the Company
shall not have any obligation to use the same Settlement Method with respect to conversions that occur on different Trading Days. 
 (iii) If, in respect of any Conversion Date (or any conversion occurring during the period from, and including, April 15, 2017 to, and including, the Business Day immediately preceding the Maturity
Date, as the case may be), the Company elects to deliver a notice (the “Settlement Notice”) of the relevant Settlement Method in respect of such Conversion Date (or such period, as the case may be), the Company, through the Trustee,
shall deliver such Settlement Notice to converting Holders no later than the close of business on the Trading Day immediately following the relevant Conversion Date (or, in the case of any conversions occurring on or after April 15, 2017, no
later than April 15, 2017). If the Company does not elect a Settlement Method prior to the deadline set forth in the immediately preceding sentence, the Company shall no longer have the right to elect Cash Settlement or Physical Settlement and
the Company shall be deemed to have elected Combination Settlement in respect of its Conversion Obligation, and the Specified Dollar Amount per $1,000 principal amount of Notes shall be equal to $1,000. Any Settlement Notice shall specify the
relevant Settlement Method and in the case of an election of Combination Settlement, the relevant Settlement Notice shall indicate the Specified Dollar Amount per $1,000 principal amount of Notes. If the Company delivers a Settlement Notice electing
Combination Settlement in respect of its Conversion Obligation but does not indicate a Specified Dollar Amount per $1,000 principal amount of Notes in such Settlement Notice, the Specified Dollar Amount per $1,000 principal amount of Notes shall be
deemed to be $1,000. Notwithstanding the foregoing or anything to the contrary herein, the Company shall not have the right to elect Physical Settlement in respect of Notes surrendered for conversion on any Conversion Date (or on

  
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or after April 15, 2017, as the case may be) if the sum of (x) the aggregate number of shares of the Common Stock to be delivered upon Physical Settlement in satisfaction of the
Company’s Conversion Obligation in respect of all Notes surrendered for conversion on such Conversion Date (or that would be delivered upon Physical Settlement if all Notes outstanding as of April 15, 2017 were surrendered for conversion,
as the case may be) and (y) the aggregate number of shares of the Common Stock delivered or to be delivered in respect of Notes converted prior to such Conversion Date (or prior to April 15, 2017, as the case may be) is greater than
the Maximum Number of Underlying Shares. 
 (iv) The cash, shares of Common Stock or combination of cash and
shares of Common Stock due upon any conversion of Notes (the “Settlement Amount”) shall be computed as follows: 
 (A) if the Company elects to satisfy its Conversion Obligation in respect of such conversion by Physical Settlement, the Company shall deliver to the converting Holder in respect of each $1,000 principal
amount of Notes being converted a number of shares of the Common Stock equal to the Conversion Rate in effect on the Conversion Date; 
 (B) if the Company elects to satisfy its Conversion Obligation in respect of such conversion by Cash Settlement, the Company shall pay to the converting Holder in respect of each $1,000 principal amount
of Notes being converted cash in an amount equal to the sum of the Daily Conversion Values for each of the 35 consecutive VWAP Trading Days during the relevant Observation Period; and 

(C) subject to Section 11.03(b), if the Company elects (or is deemed to have elected) to satisfy its Conversion
Obligation in respect of such conversion by Combination Settlement, the Company shall pay or deliver, as the case may be, to the converting Holder in respect of each $1,000 principal amount of Notes being converted, a Settlement Amount equal to the
sum of the Daily Settlement Amounts for each of the 35 consecutive VWAP Trading Days during the relevant Observation Period. 

(b) Notwithstanding anything herein to the contrary, in respect of any conversion of Notes, regardless of whether the Company has a class
of securities listed on The New York Stock Exchange at the time of such conversion, the aggregate number of shares of the Common Stock delivered in respect of such conversion, when aggregated with the aggregate number of shares of the Common Stock
previously delivered or required to be delivered in respect of all Notes surrendered for conversion prior to such conversion, cannot exceed 19.9% of the total number of shares of the Common Stock outstanding on the Issue Date unless, prior to such
conversion, the Company has received approval from its shareholders to permit the issuance upon conversion of the Notes of a number of shares of the Common Stock up to the Maximum Number of Underlying Shares. If the Company receives such shareholder
approval on any day, the Company shall so notify Holders, the Trustee and the Conversion Agent (if other than the Trustee) prior to the Close of Business on such day. Prior to the Company obtaining such shareholder approval, in connection with any
conversion of Notes for which the Company has 

  
 58 

 
elected Combination Settlement, if the number of shares of Common Stock deliverable in respect of such conversion, when aggregated with the aggregate number of shares of the Common Stock
delivered or required to be delivered in respect of Notes converted prior to such conversion, exceeds 19.9% of the total number of shares of the Common Stock outstanding on the Issue Date, the Company shall pay cash in lieu of delivering any shares
of Common Stock otherwise deliverable upon conversion in excess of such limitations based on the Daily VWAP on each VWAP Trading Day of the relevant Observation Period in respect of which, in lieu of delivering shares of Common Stock, the Company
pays cash pursuant to this Section 11.03(b). 
 (c) Notwithstanding the foregoing, the Company shall not issue fractional
shares of Common Stock upon conversion of the Notes and shall instead pay cash in lieu of delivering any fractional share of Common Stock issuable upon conversion based on the Daily VWAP on the relevant Conversion Date (in the case of Physical
Settlement) or based on the Daily VWAP on the last VWAP Trading Day of the relevant Observation Period (in the case of Combination Settlement). For each Note surrendered for conversion, if the Company has elected Combination Settlement, the full
number of shares that shall be issued upon conversion thereof shall be computed on the basis of the aggregate Daily Settlement Amounts for the applicable Observation Period and any fractional shares remaining after such computation shall be paid in
cash. 
 (d) If a Holder converts a Note, except as set forth in Section 11.02(g), (i) such Holder shall not receive
any separate cash payment (in addition to the Conversion Obligation) for accrued and unpaid interest on such Note and (ii) the Company’s payment and/or delivery, as the case may be, to such converting Holder of the amount of cash, the
number of shares of Common Stock or a combination thereof, as the case may be, into which such Holder’s Note is convertible shall be deemed to satisfy in full the Company’s obligation to pay to such Holder (i) the principal amount of
such converted Note and (ii) accrued and unpaid interest, if any, to, but excluding, the relevant Conversion Date. As a result, subject to Section 11.02(g), accrued and unpaid interest, if any, on a converted Note to but, excluding, the
relevant Conversion Date shall be deemed to be paid in full rather than cancelled, extinguished or forfeited. Upon a conversion of Notes into a combination of cash and shares of Common Stock, subject to Section 11.02(g), accrued and unpaid
interest, if any, shall be deemed to be paid first out of the cash paid upon such conversion. 
 (e) The Daily Settlement Amounts
(if applicable) and the Daily Conversion Values (if applicable) shall be determined by the Company promptly following the last Trading Day of the Observation Period. Promptly after such determination of the Daily Settlement Amounts or the Daily
Conversion Values, as the case may be, and the amount of cash payable in lieu of the delivery of any fractional share, the Company shall notify the Trustee and the Conversion Agent (if other than the Trustee) of the Daily Settlement Amounts or the
Daily Conversion Values, as the case may be, and the amount of cash payable in lieu of the delivery of any fractional shares of Common Stock. The Trustee and the Conversion Agent (if other than the Trustee) shall have no responsibility for any such
determination. 
 Section 11.04. Covenants Relating to Underlying Shares. 

(a) The Company covenants that any shares of Common Stock delivered upon conversion of the Notes shall be duly and validly issued and
fully paid and nonassessable, and shall be free from preemptive rights and shall be free of any lien or adverse claim or from any taxes or charges with respect to the issue thereof. 

(b) The Company covenants that, if any shares of Common Stock to be provided for the purpose of conversion of Notes hereunder require
registration with or approval of any governmental authority under any federal or state law before such shares may be validly issued upon conversion, the Company will, to the extent then permitted by the rules and interpretations of the Commission,
secure such registration or approval, as the case may be. 

  
 59 

 (c) In addition, the Company will cause any such shares of Common Stock to be listed on any
stock exchange on which the Common Stock is then listed and will comply with any stock exchange rules applicable to the Notes and/or any Common Stock issuable upon conversion of the Notes. 

Section 11.05. Adjustments to the Conversion Rate. The Conversion Rate shall be adjusted from time to time by the Company as
described in this Section 11.05, except that the Company shall not make any adjustments to the Conversion Rate if Holders participate (other than in the case of a share split or share combination), at the same time and upon the same terms as
holders of the Common Stock and solely as a result of holding the Notes, in any of the transactions described below in this Section 11.05 without having to convert their Notes as if they held a number of shares of the Common Stock equal to the
Conversion Rate, multiplied by the principal amount (expressed in thousands) of Notes held by such Holder. 
 (a)
Dividends, Distributions, Splits and Combinations. If an Ex-Dividend Date occurs for any issuance by the Company of solely shares of the Common Stock as a dividend or distribution on all or substantially all of the shares of the Common Stock,
or if the Company effects a share split or a share combination of the Common Stock, then, in each case, the Conversion Rate shall be adjusted based on the following formula: 

 

									
	  	 	CR1 = 
CR0 x	  	OS1	 	  	 
	 	  	 	OS0	  	  	

 where: 
  

			
	
CR0
	 	 =  the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date of such dividend
or distribution, or immediately prior to the Open of Business on the Effective Date of such share split or combination, as the case may be;

		
	
CR1
	 	 =  the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date or such Effective
Date, as the case may be;

		
	
OS0
	 	 =  the number of shares of the Common Stock outstanding immediately prior to the Open of Business on such
Ex-Dividend Date or such Effective Date, as the case may be; and

  
 60 

			
		
	
OS1
	 	
=  the number of shares of the Common Stock outstanding immediately after giving effect to such dividend, distribution, share split or share combination, as the case may be.

 Any adjustment made under this Section 11.05(a) shall become effective immediately after the Open of
Business on the Ex-Dividend Date for such dividend or distribution or the Effective Date for such share split or combination, as the case may be. If any dividend or distribution of the type described in this Section 11.05(a) is declared but not
so paid or made, then the Conversion Rate shall immediately be readjusted, effective as of the date the Board of Directors determines not to pay such dividend or distribution, to the Conversion Rate that would then be in effect had such dividend or
distribution not been declared. The “Effective Date,” with respect to a share split or combination, means the first date on which the shares of the Common Stock trade on the applicable exchange or on the applicable market, regular
way, reflecting the relevant share split or share combination, as applicable. 
 (b) Adjustment for Rights Issue. If an
Ex-Dividend Date occurs for any issuance by the Company to all or substantially all holders of the Common Stock of any rights, options or warrants entitling the holders of such rights, options or warrants, for a period of not more than 60 calendar
days after the announcement date of such issuance, to subscribe for or purchase shares of the Common Stock at a price per share less than the average of the Closing Sale Prices of the Common Stock for the ten consecutive Trading Day period ending
on, and including, the Trading Day immediately preceding the date of announcement of such issuance, then the Conversion Rate shall be increased based on the following formula: 

 

									
	  	 	CR1 = 
CR0 x	 	OS0 + X	 	  	 
	 	 	 	OS0 + Y	  	  	

 where: 

			
		
	
CR0
	 	
=  the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such issuance;

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

		
	
OS0
	 	
=  the number of shares of the Common Stock outstanding immediately prior to the Open of Business on such Ex-Dividend Date;

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

		
	 Y
	 	 =  the number of shares of the Common Stock equal to the aggregate price payable to exercise such rights, options or
warrants, divided by the average of the Closing Sale Prices of the Common Stock over the ten consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of the issuance of such
rights, options or warrants.

  
 61 

 Any increase made under this Section 11.05(b) shall be made successively whenever any
such rights, options or warrants are issued and shall become effective immediately after the Open of Business on the Ex-Dividend Date for such issuance. To the extent that shares of Common Stock are not delivered after the expiration of such rights,
options or warrants, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect had the increase made upon the issuance of such rights, options or warrants been made on the basis of delivery of only the number of
shares of Common Stock actually delivered. If the Ex-Dividend Date for any such issuance occurs but such rights, options or warrants are not so issued, the Conversion Rate shall immediately be decreased to equal the Conversion Rate that would then
be in effect had the relevant increase pursuant to this Section 11.05(b) not occurred. 
 For purposes of this
Section 11.05(b) and Section 11.01(b)(iii)(A), in determining whether any rights, options or warrants entitle the holders of the Common Stock to subscribe for or purchase shares of the Common Stock at a price per share less than the
average of the Closing Sale Prices of the Common Stock for each Trading Day in the ten consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such issuance, and in determining the
aggregate price payable to exercise such rights, options or warrants, there shall be taken into account any consideration that the Company receives for such rights, options or warrants and any amount payable upon exercise or conversion thereof, with
the value of such consideration, if other than cash, to be determined by the Board of Directors. 
 (c) Other Distributions. 

(i) If an Ex-Dividend Date occurs for a distribution by the Company of shares of its Capital Stock, evidences of its
indebtedness, other assets or property of the Company or rights, options or warrants to acquire its Capital Stock or other securities to all or substantially all holders of the Common Stock, excluding (A) dividends, distributions or issuances,
in each case, for which an increase is made pursuant to Sections 11.05(a) or 11.05(b); (B) dividends or distributions paid exclusively in cash for which an increase is made pursuant to Section 11.05(d); and (C) Spin-Offs for which an
increase is made pursuant to Section 11.05(c)(ii) (any of such shares of Capital Stock, evidences of indebtedness, other assets or property or rights, options or warrants to acquire Capital Stock or other securities, the “Distributed
Property”), then the Conversion Rate shall be increased based on the following formula: 
  

							
	  	 	CR1 = 
CR0 x	 	SP0
	  	 
	 	 	SP0 - FMV	  	

 where: 
  

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

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

  
 62 

			
	
SP0
	 	
=  the average of the Closing Sale Prices of the Common Stock for the ten consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for
such distribution; and

		
	 FMV
	 	 =  the fair market value, as determined by the Board of Directors, of the Distributed Property with respect to each
outstanding share of the Common Stock as of the Open of Business on the Ex-Dividend Date for such distribution.

 Notwithstanding the foregoing, if “SP0” (as defined above) minus “FMV” (as defined above)
is less than or equal to zero, then, in lieu of the foregoing increase, each Holder shall receive, for each $1,000 principal amount of Notes held, at the same time and upon the same terms as holders of the Common Stock without having to convert such
Holder’s Notes, the amount and kind of Distributed Property that such Holder would have received as if such Holder had owned a number of shares of the Common Stock equal to the Conversion Rate in effect on the Ex-Dividend Date for such
distribution. 
 Any increase made under this Section 11.05(c)(i) shall become effective immediately after the Open of
Business on the Ex-Dividend Date for such distribution. If an Ex-Dividend Date for any such distribution occurs but such distribution is not so paid or made, or if any rights, options or warrants are distributed but not exercised before their
expiration date, then the Conversion Rate shall be decreased to be the Conversion Rate that would then be in effect had the Ex-Dividend Date for such distribution not occurred, or to be the Conversion Rate that would then be in effect had solely the
rights, options or warrants that were exercised been distributed, as the case may be. 
 (ii) If an Ex-Dividend
Date occurs for a dividend or other distribution that consists of 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 that are listed or admitted for
trading (or will be listed or admitted for trading upon consummation of the Spin-Off) on a U.S. national securities exchange (a “Spin-Off”), the Conversion Rate shall be increased based on the following formula: 

 

							
	  	 	CR1 = 
CR0 x	 	FMV0 + MP0	  	 
	 	 	MP0	  	

 where: 
  

			
	
CR0
	 	
=  the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for the Spin-Off;

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

		
	
FMV0
	 	
=  the average of the Closing Sale Prices of the Capital Stock or similar equity interest distributed to holders of the Common Stock applicable to one share of the Common Stock (determined by
reference to the definition of Closing Sale Price as set forth in Section 1.01 as if references therein to Common Stock

  
 63 

			
		 	 were to such Capital Stock or similar equity interest) over the first ten consecutive Trading Day period immediately following, and including, the
Ex-Dividend Date for the Spin-Off (such period, the “Valuation Period”); and

		
	
MP0
	 	 =  the average of the Closing Sale Prices of the Common Stock over the Valuation Period.

 Notwithstanding the foregoing, (A) if Cash Settlement or Combination Settlement is applicable to any
conversion of Notes and the last VWAP Trading Day of the Observation Period for any such conversion of Notes occurs on or after the Ex-Dividend Date for the Spin-Off, but less than ten Trading Days immediately following, and including, the
Ex-Dividend Date for the Spin-Off, references within this Section 11.05(c)(ii) to ten Trading Days shall be deemed replaced, for purposes of calculating the affected Daily Conversion Values and/or the affected Daily Settlement Amounts in
respect of that conversion of Notes, with such lesser number of Trading Days as have elapsed from, and including, the Ex-Dividend Date for the Spin-Off to, and including, the last VWAP Trading Day of such Observation Period, and (B) for
purposes of determining the Conversion Rate applicable to any conversion of Notes for which the Conversion Date occurs during the ten Trading Days commencing on the Ex-Dividend Date for any Spin-Off, references within the portion of this
Section 11.05(c)(ii) related to “Spin-Offs” to ten Trading Days shall be deemed replaced with such lesser number of Trading Days as have elapsed from, and including, the Ex-Dividend Date for such Spin-Off to, but excluding, the
relevant Conversion Date. 
 Any increase made pursuant to this Section 11.05(c)(ii) shall become effective as of the Open
of Business on the Ex-Dividend Date for the Spin-Off. If an Ex-Dividend Date for a Spin-Off occurs but such Spin-Off does not become effective, the Conversion Rate shall be decreased to be the Conversion Rate that would have been in effect if the
Ex-Dividend Date for such Spin-Off had not occurred. 
 For purposes of this Section 11.05(c) (and subject in all respect to
Section 11.05(i)), rights, options or warrants distributed by the Company to all holders of its Common Stock entitling them to subscribe for or purchase shares of the Company’s Capital Stock, including Common Stock (either initially or
under certain circumstances), which rights, options or warrants, until the occurrence of a specified event or events (“Trigger Event”): (A) are deemed to be transferred with such shares of the Common Stock; (B) are not
exercisable; and (C) are also issued in respect of future issuances of the Common Stock, shall be deemed not to have been distributed for purposes of this Section 11.05(c) (and no increase to the Conversion Rate under this
Section 11.05(c) will be required) until the occurrence of the earliest Trigger Event, whereupon such rights, options or warrants shall be deemed to have been distributed and an appropriate increase (if any is required) to the Conversion Rate
shall be made under this Section 11.05(c). If any such right, option or warrant, including any such existing rights, options or warrants distributed prior to the date of this Indenture, are subject to events, upon the occurrence of which such
rights, options or warrants become exercisable to purchase different securities, evidences of indebtedness or other assets, then the date of the occurrence of any and each such event shall be deemed to be the date of distribution and Ex-Dividend
Date with respect to new rights, options or warrants with such rights (in which case the existing rights, options or warrants shall be deemed to terminate and expire on such date without exercise by any of the holders

  
 64 

 
thereof). In addition, in the event of any distribution (or deemed distribution) of rights, options or warrants, or any Trigger Event or other event (of the type described in the immediately
preceding sentence) with respect thereto that was counted for purposes of calculating a distribution amount for which an increase to the Conversion Rate under this Section 11.05(c) was made, (1) in the case of any such rights, options or
warrants that shall all have been redeemed or purchased without exercise by any holders thereof, upon such final redemption or purchase (x) the Conversion Rate shall be decreased as if such rights, options or warrants had not been issued and
(y) the Conversion Rate shall then again be increased to give effect to such distribution, deemed distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per share redemption or purchase price
received by a holder or holders of Common Stock with respect to such rights, options or warrants (assuming such holder had retained such rights, options or warrants), made to all holders of Common Stock as of the date of such redemption or purchase,
and (2) in the case of such rights, options or warrants that shall have expired or been terminated without exercise by any holders thereof, the Conversion Rate shall be decreased as if such rights, options and warrants had not been issued.

 For purposes of Section 11.05(a), Section 11.05(b) and this Section 11.05(c), if any dividend or distribution
to which this Section 11.05(c) is applicable also includes one or both of: 
 (A) a dividend or distribution of shares of
Common Stock to which Section 11.05(a) is applicable (the “Clause A Distribution”); or 
 (B) a dividend or
distribution of rights, options or warrants to which Section 11.05(b) is applicable (the “Clause B Distribution”), 
 then (1) such dividend or distribution, other than the Clause A Distribution and the Clause B Distribution, shall be deemed to be a dividend or distribution to which this Section 11.05(c) is
applicable (the “Clause C Distribution”) and any Conversion Rate adjustment required by this Section 11.05(c) with respect to such Clause C Distribution shall then be made, and (2) the Clause A Distribution and Clause B
Distribution shall be deemed to immediately follow the Clause C Distribution and any Conversion Rate adjustment required by Section 11.05(a) and Section 11.05(b) with respect thereto shall then be made, except that, if determined by the
Company (I) the “Ex-Dividend Date” of the Clause A Distribution and the Clause B Distribution shall be deemed to be the Ex-Dividend Date of the Clause C Distribution and (II) any shares of Common Stock included in the Clause A
Distribution or Clause B Distribution shall be deemed not to be “outstanding immediately prior to the Open of Business on such Ex-Dividend Date or such Effective Date” within the meaning of Section 11.05(a) or “outstanding
immediately prior to the Open of Business on such Ex-Dividend Date” within the meaning of Section 11.05(b). 
 (d)
Adjustment for Cash Distributions. If an Ex-Dividend Date occurs for any cash dividend or distribution by the Company to all or substantially all holders of the outstanding Common Stock, then the Conversion Rate shall be increased based on
the following formula: 
  

							
	  	 	CR1 = 
CR0 x	 	SP0
	  	 
	 	 	SP0 - C	  	

  
 65 

 where: 

			
		
	
CR0
	 	 =  the Conversion Rate in effect immediately prior to 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 the Ex-Dividend Date for such dividend or distribution;

		
	 SP0
	 	
=  the average of the Closing Sale Prices of the Common Stock over the ten consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for
such dividend or distribution; and

		
	 C
	 	 =  the amount in cash per share that the Company pays or distributes to all or substantially all holders of the
Common Stock.

 If “SP0” (as defined above) minus “C” (as defined above) is less than or equal to zero, then, in lieu of the
foregoing increase, each Holder shall receive, for each $1,000 principal amount of Notes held, at the same time and upon the same terms as holders of the Common Stock without having to convert such Holder’s Notes, the amount of cash such Holder
would have received if such Holder had owned a number of shares of the Common Stock equal to the Conversion Rate in effect on the Ex-Dividend Date for such dividend or distribution. 

Any increase made under this Section 11.05(d) shall become effective immediately after the Open of Business on the Ex-Dividend Date
for such dividend or distribution. If an Ex-Dividend Date for any such dividend or distribution occurs but such dividend or distribution is not so paid or made, the Conversion Rate shall be decreased to be the Conversion Rate that would then be in
effect had such Ex-Dividend Date not occurred. 
 (e) Adjustment for Tender or Exchange Offers. If the Company or any of
its Subsidiaries makes a payment to holders of the Common Stock in respect of a tender or exchange offer for the Common Stock, to the extent that the cash and value of any other consideration included in the payment per share of Common Stock exceeds
the average of the Closing Sale Prices of the Common Stock over the ten consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to such tender or
exchange offer (the “Expiration Date”), the Conversion Rate shall be increased based on the following formula: 
  

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

 where: 

			
		
	
CR0
	 	 =  the Conversion Rate in effect immediately prior to the Close of Business on the Expiration
Date;

  
 66 

			
		
	
CR1
	 	 =  the Conversion Rate in effect immediately after the Close of Business on the Expiration
Date;

		
	
AC
	 	
=  the aggregate value of all cash and any other consideration (as determined by the Board of Directors) paid or payable for the shares of Common Stock purchased in such tender or exchange
offer;

		
	 OS0
	 	
=  the number of shares of Common Stock outstanding immediately prior to the time (the “Consummation Time”) such tender or exchange offer is consummated (prior to 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 Consummation Time (after giving effect to
the purchase of all shares of Common Stock accepted for purchase or exchange in such tender or exchange offer); and

		
	
SP1
	 	 =  the average of the Closing Sale Prices of the Common Stock over the ten consecutive Trading Day period commencing
on, and including, the Trading Day next succeeding the Expiration Date.

 The increase to the Conversion Rate under this Section 11.05(e) shall be given effect at the Close of
Business on the Expiration Date. If Cash Settlement or Combination Settlement is applicable to any conversion of Notes and the Expiration Date is less than ten Trading Days prior to, and including, the last VWAP Trading Day of the Observation Period
in respect of any such conversion of Notes, references within this Section 11.05(e) to ten Trading Days shall be deemed replaced, for purposes of calculating the affected Daily Conversion Values and/or the affected Daily Settlement Amounts in
respect of that conversion of Notes, with such lesser number of Trading Days as have elapsed from, and including, the Trading Day next succeeding the Expiration Date to, and including, the last VWAP Trading Day of such Observation Period. For
purposes of determining the Conversion Rate applicable to any conversion during the ten Trading Day period commencing on the Trading Day next succeeding the Expiration Date, references within this Section 11.05(e) to ten Trading Days shall be
deemed replaced with such lesser number of Trading Days as have elapsed from, and including, the Trading Day next succeeding the Expiration Date to, but excluding, the relevant Conversion Date. 

(f) Holder Participation in Adjustment Events. Notwithstanding the provisions set forth in clauses (a) through (e) above,
if any adjustment to the Conversion Rate pursuant to such provisions becomes effective on any Ex-Dividend Date, Effective Date, or Expiration Date and a Holder that has converted its Notes would (i) receive shares of Common Stock based on an
adjusted Conversion Rate and (ii) be a record holder of such shares of Common Stock on the record date for the dividend, distribution, transaction or other event giving rise to such adjustment, then, in lieu of receiving shares of Common Stock
at such an adjusted Conversion Rate and participating on an as-converted basis in such dividend, distribution, transaction or other event, such Holder shall receive a number of shares of Common Stock based on the unadjusted Conversion Rate and shall
participate in the related dividend, distribution, transaction or other event giving rise to such adjustment. 

  
 67 

 (g) Adjustments Not Yet Effective. If any Holder converts its Note and, on any VWAP
Trading Day during the Observation Period corresponding to the Conversion Date for such Note, shares of Common Stock are deliverable in respect of such VWAP Trading Day, and 

(i) the occurrence of the Ex-Dividend Date for any dividend or distribution, the Effective Date for any share split or
combination or the Expiration Date for any tender or exchange offer by the Company that, in each case, would require an adjustment to the Conversion Rate pursuant to Section 11.05(a), (b), (c), (d) or (e) occurs prior to the
Company’s delivery of such shares of Common Stock to the converting Holder; 
 (ii) the Conversion Rate for
such VWAP Trading Day will not reflect such adjustment; and 
 (iii) the shares of Common Stock that the Company
shall deliver to such Holder with respect to such VWAP Trading Day are not entitled to participate in the relevant event (because such shares of Common Stock were not held by such Holder on the related record date, Effective Date, Expiration Date or
otherwise), 
 then the Company shall adjust the number of shares of Common Stock it delivers to such Holder in respect of such VWAP Trading Day
in a manner that appropriately reflects the relevant dividend, distribution, transaction or event. As used solely in this Section 11.05(g), “record date” means, with respect to any dividend, distribution or other transaction or
event in which the holders of the Common Stock (or other applicable security) have the right to receive any cash, securities or other property or in which the Common Stock (or such other security) is exchanged for or converted into any combination
of cash, securities or other property, the date fixed for determination of holders of the Common Stock (or such other security) entitled to receive such cash, securities or other property (whether such date is fixed by the Board of Directors,
statute, contract or otherwise). 
 (h) Other Adjustments. Whenever any provision of this Indenture requires the Company
to calculate the Closing Sale Prices or Daily VWAPs over a span of multiple days, the Company shall make appropriate adjustments to such prices to account for any adjustment to the Conversion Rate that becomes effective, or any event that would
require an adjustment to the Conversion Rate where the Ex-Dividend Date, Effective Date or Expiration Date of the event occurs, at any time during the period over which such Closing Sale Prices or Daily VWAPs are to be calculated. 

(i) Rights Plans. To the extent that the Company has a shareholder rights plan in effect upon conversion of any Note, each share of
Common Stock issued upon such conversion (x) shall be entitled to receive the number of rights, if any, associated with one share of Common Stock under such shareholder rights plan, and (y) shall, if issued in certificated form, bear such
legends, if any, as may be required under such shareholder rights plan. In addition, if prior to the Conversion Date for such Note, the rights have separated from the Common Stock in accordance with the provisions of the applicable shareholder
rights plan, at the time of such separation, the Conversion Rate shall be increased in accordance with Section 11.05(c) as if the Company made a distribution of Distributed Property to the holders of the Common Stock; provided,
further, that such adjustment shall be subject to decreased upon the expiration, termination or redemption of such separated rights in accordance with Section 11.05(c). 

  
 68 

 (j) Deferral of Adjustments. The Company shall not be required to make an adjustment
in the Conversion Rate unless such adjustment would result in a change of at least 1% in the Conversion Rate; provided that any adjustment of less than 1% that would have been made to the Conversion Rate but for this Section 11.05(j)
shall be carried forward, and (i) all such carried forward adjustments, regardless of whether the aggregate adjustment is greater than 1% of the Conversion Rate, (i) upon any conversion of Notes (and on each VWAP Trading Day in the related
Observation Period, if any) and (ii) upon any purchase of the Notes by the Company upon a Fundamental Change. 
 (k)
Voluntary Increases. In addition to those adjustments required by clauses (a), (b), (c), (d) and (e) of this Section 11.05, and to the extent permitted by applicable law and any applicable stock exchange rules, from time to
time, (i) the Company may increase the Conversion Rate of the Notes by any amount for a period of at least 20 Business Days if the Board of Directors determines that such increase is in the best interest of the Company and (ii) the Company
may (but is not required to) increase the Conversion Rate to avoid or diminish income tax to holders of the Common Stock or rights to purchase shares of the Common Stock in connection with a dividend or distribution of shares (or rights to acquire
shares) or a similar event. However, the Company shall not take any action that would result in adjustment of the Conversion Rate, pursuant to this Section 11.05(k), that would result in a reduction of the Conversion Price to less than the par
value per share of the Common Stock. 
 (l) No Other Adjustments. Except as expressly stated herein, the Conversion Rate
shall not be subject to adjustment as a result of any issuance of shares of Common Stock or any securities convertible into or exchangeable for shares of Common Stock or the right to purchase shares of Common Stock or such convertible or
exchangeable securities. 
 (m) No Decreases in the Conversion Rate. Notwithstanding anything to the contrary in clauses
(a) through (e) above, if the application of the formulas set forth therein would result in a decrease in the Conversion Rate, no adjustment to the Conversion Rate shall be made, other than (i) as a result of a reverse share split or
share combination or (ii) in the case of an increase in the Conversion Rate in connection with any Spin-Off, tender or exchange offer for the Common Stock, dividend or distribution on the Common Stock or issuance of rights, options or warrants
to holders of Common Stock, such increase may be reversed, to the extent expressly set forth herein, on account of the cancellation of such Spin-Off, such tender or exchange offer not being consummated, such dividend or distribution not being paid
or made or the expiration of such rights, options or warrants. 
 (n) [Reserved]. 

(o) Notice of Adjustments. Whenever the Conversion Rate is adjusted as herein provided, the Company shall as promptly as
practicable file with the Trustee (and the Conversion Agent, if not the Trustee) an Officer’s Certificate setting forth the Conversion Rate after such adjustment and setting forth a brief statement of the facts requiring such adjustment. Unless
and until a Trust Officer of the Trustee shall have received such Officer’s Certificate, the Trustee 

  
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shall not be deemed to have knowledge of any adjustment of the Conversion Rate and may assume without inquiry that the last Conversion Rate of which it has knowledge is still in effect. Promptly
after delivery of such certificate, the Company shall prepare a notice of such adjustment of the Conversion Rate setting forth the adjusted Conversion Rate and the date on which such adjustment becomes effective and shall mail such notice of such
adjustment of the Conversion Rate to each Holder at its last address appearing on the Register. Failure to deliver such notice shall not affect the legality or validity of any such adjustment. 

Section 11.06. Effect of Reclassification, Consolidation, Merger or Sale. 

(a) In the case of: 
 (i) any recapitalization, reclassification or change of the Common Stock (other than changes resulting from a share subdivision or share combination for which an adjustment is provided pursuant to
Section 11.05); 
 (ii) any consolidation, merger, combination or similar transaction involving the Company;

 (iii) any sale, assignment, conveyance, lease, transfer or disposition of all or substantially all of the
consolidated assets of the Company and its Subsidiaries; or 
 (iv) any statutory share exchange, 

in each case, as a result of which the Common Stock will be converted into, or exchanged for, stock, other securities, other property or assets (including
cash or any combination thereof) (any such event, a “Share Exchange Event,” any such stock, other securities or other property or assets, “Reference Property,” and the amount of Reference Property that a holder of
one share of the Common Stock immediately prior to such Share Exchange Event would have been entitled to receive upon the occurrence of such Share Exchange Event, a “Unit of Reference Property”), then the Company or the successor,
purchasing or transferee company, as the case may be, shall execute with the Subsidiary Guarantors and the Trustee a supplemental indenture providing that, at and after the effective time of such Share Exchange Event, a Holder’s right to
convert its Note into cash, shares of Common Stock or a combination thereof shall be changed into the right to convert such Note into cash, Units of Reference Property or a combination thereof. However, at and after the effective time of such Share
Exchange Event, (x) the Company shall continue to have the right to determine the form of consideration to be paid or delivered, as the case may be, upon conversion of Notes, as set forth under Section 11.03 and (y)(A) any amount payable
in cash upon conversion of the Notes as set forth under Section 11.03 shall continue to be payable in cash, (B) in lieu of any shares of Common Stock that the Company would have been required to deliver upon conversion of the Notes as set
forth under Section 11.03, the Company shall instead deliver the amount and type of Reference Property that a holder of that number of shares of the Common Stock would have received in such Share Exchange Event and (C) the Daily VWAP for
any VWAP Trading Day shall be calculated based on the value of a Unit of Reference Property that a holder of one share of the Common Stock would have received in such Share Exchange Event. 

  
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 If a Share Exchange Event causes the Common Stock to be converted into, or exchanged for,
the right to receive more than a single type of consideration (determined based in part upon any form of stockholder election), then (i) the amount and kind of Reference Property into which the Notes will be convertible shall be deemed to be
the weighted average of the types and amounts of consideration received by the holders of Common Stock that affirmatively make such an election, and (ii) the Unit of Reference Property for purposes of the immediately preceding paragraph shall
refer to the consideration referred to in clause (i) attributable to one share of Common Stock. If the holders receive only cash in such Share Exchange Event, then for all conversions that occur after the effective date of such Share Exchange
Event (x) the consideration due upon conversion of each $1,000 principal amount of Notes shall be solely cash in an amount equal to the Conversion Rate in effect on the relevant Conversion Date (as may be increased by any Additional Shares
pursuant to Section 11.07), multiplied by the price paid per share of Common Stock in such Share Exchange Event and (y) the Company shall satisfy the Conversion Obligation by paying cash to converting Holders on the third Business
Day immediately following the relevant Conversion Date. The Company shall notify Holders, the Trustee and the Conversion Agent (if other than the Trustee) of such weighted average as soon as practicable after such determination is made. 

Such supplemental indenture described in the second immediately preceding paragraph shall provide for anti-dilution and other adjustments
that are as nearly equivalent as possible to the adjustments provided for in this Article 11. If the Reference Property in respect of any Share Exchange Event includes shares of stock, securities or other property or assets of a Person other than
the Company or, in the case of a transaction described in Article 6, the Successor Company, then such supplemental indenture shall also be executed by such other Person and shall contain such additional provisions to protect the interests of the
Holders of the Notes, including the right of Holders to require the Company to purchase their Notes upon a Fundamental Change pursuant to Article 3, as the Board of Directors shall reasonably consider necessary by reason of the foregoing.

 (b) When the Company executes a supplemental indenture pursuant to this Section 11.06, as promptly as practicable, the
Company shall file with the Trustee an Officer’s Certificate briefly describing such Share Exchange Event, the composition of a Unit of Reference Property for such Share Exchange Event, any adjustment to be made with respect thereto and that
all conditions precedent to such Share Exchange Event under this Indenture have been complied with. Any failure to deliver such Officer’s Certificate shall not affect the legality or validity of such supplemental indenture. The Company shall
also issue a press release containing such information and shall make such press release available on its website. 
 (c) The
Company shall not become a party to any Share Exchange Event unless its terms are consistent with this Section 11.06. None of the foregoing provisions shall affect the right of a holder of Notes to convert its Notes into cash, shares of Common
Stock or a combination thereof, as set forth in Section 11.02 and Section 11.01 prior to the effective date of such Share Exchange Event. 
 (d) The provisions of this Section 11.06 shall apply successively to successive Share Exchange Events. 

  
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 Section 11.07. Adjustment to Conversion Rate Upon Certain Transactions. 

(a) If a Make-Whole Fundamental Change occurs and a Holder elects to convert its Note in connection with such Make-Whole Fundamental
Change, the Company shall, in the circumstances described in this Section 11.07, increase the Conversion Rate for such Note by the number of additional shares of Common Stock (the “Additional Shares”) described in this
Section 11.07. For the purposes of this Section 11.07, a conversion of Notes shall be deemed to be “in connection with” a Make-Whole Fundamental Change if the Conversion Date occurs during the period beginning on, and including,
the date on which such Make-Whole Fundamental Change occurs or becomes effective (such date, the “Make-Whole Fundamental Change Effective Date”) and ending on, and including, the Business Day immediately preceding the earliest of
(i) the 35th Scheduled Trading Day immediately following the Make-Whole Fundamental Change Effective Date, (ii) if such Make-Whole Fundamental Change is also a Fundamental Change, the relevant Fundamental Change Purchase Date, and
(iii) the Business Day immediately preceding the Maturity Date. The Company shall notify Holders and the Trustee within one Business Day after the first public announcement by the Company or a third party of an event or transaction that the
Company reasonably determines would, if consummated, constitute a Make-Whole Fundamental Change. Upon receiving notice or otherwise becoming aware of a potential Make-Whole Fundamental Change, the Company shall announce or cause the announcement of
such potential Make-Whole Fundamental Change in time to deliver such notice at least 45 Scheduled Trading Days prior to the anticipated Make-Whole Fundamental Change Effective Date. 

(b) The number of Additional Shares by which the Conversion Rate for each Trading Day in the relevant Observation Period shall be
increased for a Note converted in connection with a Make-Whole Fundamental Change shall be determined by reference to the table in clause (d) below, based on the relevant Make-Whole Fundamental Change Effective Date and the stock price paid (or
deemed to be paid) per share of the Common Stock in the Fundamental Change, as determined pursuant to clause (e) below (such stock price, the “Stock Price”). 

(c) The Stock Prices set forth in the column headings of the table in clause (d) below shall be adjusted as of any date on which the
Conversion Rate is adjusted pursuant to Section 11.05. The adjusted Stock Prices shall equal the Stock Prices in effect immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the Conversion Rate in
effect immediately prior to the adjustment giving rise to the Stock Price adjustment, and the denominator of which is the Conversion Rate as so adjusted. The number of Additional Shares set forth in the table in clause (d) below shall be
adjusted at the same time and in the same manner as the Conversion Rate is adjusted pursuant to Section 11.05. 
 (d) The
following table sets forth, for specified Stock Prices and Make-Whole Fundamental Change Effective Dates, the number of Additional Shares, if any, by which the Conversion Rate will be increased for a Holder that converts its Note in connection with
a Make-Whole Fundamental Change having any Make-Whole Fundamental Change Effective Date and Stock Price set forth therein: 

  
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	 Make-Whole Fundamental
 Change Effective Date
	 	Stock Price	 
	 	$1.87	 	 	$2.00	 	 	$2.25	 	 	$2.50	 	 	$2.75	 	 	$3.00	 	 	$3.50	 	 	$4.00	 	 	$5.00	 	 	$6.00	 	 	$8.00	 	 	$10.00	 
	 July 18, 2012
	 	 	89.1265	  	 	 	81.2792	  	 	 	69.8361	  	 	 	61.3224	  	 	 	54.5930	  	 	 	49.0719	  	 	 	40.4661	  	 	 	34.0322	  	 	 	25.0302	  	 	 	19.0300	  	 	 	11.5422	  	 	 	7.1101	  
	 July 15, 2013
	 	 	89.1265	  	 	 	71.5657	  	 	 	60.4423	  	 	 	52.7364	  	 	 	46.8701	  	 	 	42.1369	  	 	 	34.8189	  	 	 	29.3612	  	 	 	21.7278	  	 	 	16.6394	  	 	 	10.2803	  	 	 	6.4794	  
	 July 15, 2014
	 	 	89.1265	  	 	 	61.2332	  	 	 	49.6908	  	 	 	42.6808	  	 	 	37.7519	  	 	 	33.9145	  	 	 	28.0715	  	 	 	23.7305	  	 	 	17.6600	  	 	 	13.6134	  	 	 	8.5551	  	 	 	5.5215	  
	 July 15, 2015
	 	 	89.1265	  	 	 	54.3672	  	 	 	37.5552	  	 	 	30.9548	  	 	 	27.0567	  	 	 	24.2572	  	 	 	20.1103	  	 	 	17.0410	  	 	 	12.7474	  	 	 	9.8850	  	 	 	6.3073	  	 	 	4.1606	  
	 July 15, 2016
	 	 	89.1265	  	 	 	54.3672	  	 	 	23.8423	  	 	 	17.0940	  	 	 	14.5181	  	 	 	12.9995	  	 	 	10.8103	  	 	 	9.1820	  	 	 	6.9024	  	 	 	5.3827	  	 	 	3.4831	  	 	 	2.3434	  
	 July 15, 2017
	 	 	89.1265	  	 	 	54.3672	  	 	 	0.0000	  	 	 	0.0000	  	 	 	0.0000	  	 	 	0.0000	  	 	 	0.0000	  	 	 	0.0000	  	 	 	0.0000	  	 	 	0.0000	  	 	 	0.0000	  	 	 	0.0000	  

 In the event that the exact Stock Price or Make-Whole Fundamental Change Effective Date for a Make-Whole Fundamental
Change is not set forth in the table above: 
 (i) if the Stock Price is between two Stock Prices listed in the
table or the Make-Whole Fundamental Change Effective Date is between two Make-Whole Fundamental Change Effective Dates listed in the table, the applicable number of Additional Shares shall be determined by a straight-line interpolation between the
number of Additional Shares set forth for the higher and lower Stock Prices and the earlier and later Make-Whole Fundamental Change Effective Dates, as applicable, based on a 365-day year; 

(ii) if the Stock Price is greater than $10.00 (subject to adjustment in the same manner and at the same time as the Stock
Prices listed in the table), no Additional Shares shall be added to the Conversion Rate; and 
 (iii) if the
Stock Price is less than $1.87 (subject to adjustment in the same manner and at the same time as the Stock Prices listed in the table), no Additional Shares shall be added to the Conversion Rate. 

Notwithstanding anything to the contrary in this Section 11.07, in no event shall the Conversion Rate exceed 534.7593 shares of
Common Stock per $1,000 principal amount of Notes, subject to adjustment at the same time and in the same manner as the Conversion Rate pursuant to Section 11.05 (the “Maximum Conversion Rate”). 

(e) With respect to any Make-Whole Fundamental Change: 

(i) that is described in clause (2) of the definition Fundamental Change and in which the holders of Common Stock
receive only cash in consideration for their shares (a “Cash Merger”), notwithstanding anything to the contrary in Section 11.03, the Company shall satisfy its Conversion Obligation with respect to any Note converted at any
time following such Cash Merger by delivering to the converting Holder, on the third Business Day immediately following the Conversion Date for such Note, an amount of cash, for each $1,000 principal amount of Notes converted, equal to the product
of (A) the Conversion Rate in effect on such Conversion Date (as increased by any Additional Shares pursuant to this Section 11.07) and (B) the “Stock Price” with respect to such Cash Merger, which shall be the cash
amount per share paid to holders of Common Stock in such Cash Merger; or 

  
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 (ii) that is not a Cash Merger, (A) the “Stock Price”
with respect to such Make-Whole Fundamental Change shall equal the average of the Closing Sale Prices of the Common Stock over the five Trading Day period ending on, and including, the Trading Day immediately preceding the related Make-Whole
Fundamental Change Effective Date, and (B) for the avoidance of doubt, the Company shall satisfy its Conversion Obligation with respect to any Note converted in connection with such Make-Whole Fundamental Change in accordance with
Section 11.03, based on the Conversion Rate as increased by any Additional Shares pursuant to this Section 11.07. 

Section 11.08. Trustee’s Disclaimer. Each of the Trustee, the Conversion Agent and the Bid Solicitation Agent has no duty to
determine when an adjustment under this Article 11 should be made, how it should be made or what it should be. Neither the Trustee, the Conversion Agent nor the Bid Solicitation Agent shall be accountable for and makes no representation as to the
validity or value of any securities or assets issued upon conversion of Notes. Each of the Trustee, the Conversion Agent and the Bid Solicitation Agent shall not be responsible for the Company’s failure to comply with the covenants or anything
else contained in this Article 11. Each Conversion Agent and Bid Solicitation Agent (if other than the Company) shall have the same protection under this Section 11.08 as the Trustee. 

Neither the Trustee, the Conversion Agent nor the Bid Solicitation Agent shall be responsible for determining whether any event
contemplated by Section 11.01 has occurred which makes the Notes eligible for conversion until the Company has delivered to the Trustee, the Conversion Agent and the Bid Solicitation Agent an Officer’s Certificate stating that such event
has occurred, on which Officer’s Certificate the Trustee, the Conversion Agent and the Bid Solicitation Agent may conclusively rely, and the Company agrees to deliver such Officer’s Certificate immediately after the occurrence of any such
event. 
 The Trustee, the Conversion Agent and the Bid Solicitation Agent shall not at any time be under any duty or
responsibility to any Holder to either calculate the Conversion Rate or determine whether any facts exist which may require any adjustment of the Conversion Rate, or with respect to the nature or extent or calculation of any such adjustment when
made, or with respect to the method employed herein, or in any supplemental indenture provided to be employed, in making the same and shall be protected in relying upon an Officer’s Certificate with respect to the same. Neither the Trustee, the
Conversion Agent nor the Bid Solicitation Agent shall be responsible for any failure of the Company to make any cash payment or to issue, transfer or deliver any shares of Common Stock or stock or share certificates or other securities or property
upon the surrender of any Note for the purpose of conversion. Without limiting the generality of the foregoing, neither the Trustee, the Conversion Agent nor the Bid Solicitation Agent shall be under any responsibility to determine the correctness
of any provisions contained in any supplemental indenture entered into pursuant to Section 11.06 relating either to the kind or amount of shares of stock or securities or other property or assets (including cash) receivable for Holders upon the
conversion of their Notes after an any event referred to in such Section 11.06 or to any adjustment to be made with respect thereto, but, may accept as conclusive evidence of the correctness of any such provisions, and shall be protected in
relying upon, the Officer’s Certificate (which the Company shall be obligated to file with the Trustee prior to the execution of any such supplemental indenture) with respect thereto. 

  
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 ARTICLE 12 
 PAYMENT OF INTEREST 
 Section
12.01. Payment of Interest. The Company shall pay interest on the Notes at a rate of 5.00% per annum, payable semi-annually in arrears on January 15 and July 15 of each year (each, an “Interest Payment Date”)
or, if any such day is not a Business Day, the immediately following Business Day, commencing January 15, 2013. Interest on the Notes shall accrue from the most recent date to which interest has been paid or duly provided for, or, if no
interest has been paid, the date of this Indenture. Interest on a Note shall be paid to the Holder of record of such Note at the Close of Business on the January 1 or July 1, whether or not a Business Day (each, a “Record
Date”), immediately preceding the January 15 or July 15 Interest Payment Date, respectively, and shall be computed on the basis of a 360-day year composed of twelve 30-day months. In the event of the conversion of a Note or
purchase of a Note by the Company at the option of the Holder pursuant to Article 3, interest shall cease to accrue on such Note; provided that if any such conversion or repurchase occurs following a Record Date and on or prior to the related
Interest Payment Date, the Holder of record of such Note as of the Close of Business on such Record Date shall receive the full amount of the related interest payment on such Interest Payment Date. 

Section 12.02. Defaulted Interest. Any installment of interest that is payable, but is not punctually paid or duly provided for on
any Interest Payment Date (“Defaulted Interest”), shall forthwith cease to be payable to the Holders in whose names the Notes were registered on the Record Date applicable to such installment of interest. Defaulted Interest
(including any interest on such Defaulted Interest) may be paid by the Company, at its election, as provided in Sections 12.02(a) or 12.02(b). 
 (a) The Company may elect to make payment of any Defaulted Interest (including any interest on such Defaulted Interest) to the Holders in whose names the Notes are registered at the Close of Business on a
special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to
be paid and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest (including any interest on such
Defaulted Interest) or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Holders entitled to such Defaulted Interest
(including any interest on such Defaulted Interest) as provided in this Section 12.02(a). Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest (including any interest on such Defaulted Interest),
which shall be not more than 15 calendar days and not less than ten calendar days prior to the date of the proposed payment and not less than ten calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall
promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest (including any interest on such Defaulted Interest) and the Special
Record Date therefor to be sent by first-class mail, postage prepaid, to each Holder at such Holder’s address as it appears in the registration books of the Registrar, not less than ten calendar days prior to such Special Record Date. Notice of
the proposed payment of such Defaulted Interest (including any interest on such Defaulted 

  
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Interest) and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest (including any interest on such Defaulted Interest) shall be paid to the Holders in whose
names the Notes are registered at the Close of Business on such Special Record Date and shall no longer be payable pursuant to Section 12.02(b). 
 (b) Alternatively, the Company may make payment of any Defaulted Interest (including any interest on such Defaulted Interest) in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange if, after notice given by the Company to the Trustee of the proposed payment pursuant to this Section 12.02(b), such manner of
payment shall be deemed practicable by the Trustee. 
 Section 12.03. Interest Rights Preserved. Subject to the foregoing
provisions of this Article 12 and, to the extent applicable, Sections 2.06 and 2.07, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued
and unpaid, and to accrue, which were carried by such other Note. 
 ARTICLE 13 

MEETINGS OF HOLDERS 
 Section 13.01. Purpose of Meetings. A meeting of Holders may be called at any time and from time to time pursuant to the provisions of this Article 13 for any of the following purposes: 

(a) to give any notice to the Company or to the Trustee or to give any directions to the Trustee permitted under this Indenture, or to
consent to the waiving of any Default or Event of Default hereunder or rescind any acceleration (in each case, as permitted under this Indenture), or to take any other action authorized to be taken by Holders pursuant to any of the provisions of
Article 7; 
 (b) to remove the Trustee and nominate a successor Trustee pursuant to the provisions of Article 8; 

(c) to consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions of Article 10; or 

(d) to take any other action authorized to be taken by or on behalf of the Holders of any specified aggregate principal amount of the
Notes under any other provision of this Indenture or under applicable law. 
 Section 13.02. Call of Meetings by Trustee.
The Trustee may at any time call a meeting of Holders to take any action specified in Section 13.01, to be held at such time and at such place as the Trustee shall determine. Notice of every meeting of the Holders, setting forth the time and
the place of such meeting and in general terms the action proposed to be taken at such meeting and the establishment of any record date pursuant to Section 1.04, shall be mailed to Holders of such Notes at their addresses as they shall appear
on the Register. Such notice shall also be mailed to the Company. Such notices shall be mailed not less than 20 nor more than 90 days prior to the date fixed for the meeting. 

  
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 Any meeting of Holders shall be valid without notice if the Holders of all Notes then
outstanding are present in person or by proxy or if notice is waived before or after the meeting by the Holders of all Notes then outstanding, and if the Company and the Trustee are either present by duly authorized representatives or have, before
or after the meeting, waived notice. 
 Section 13.03. Call of Meetings by Company or Holders. In case at any time the
Company, pursuant to a Board Resolution, or the Holders of at least 10% of the aggregate principal amount of the Notes then outstanding, shall have requested the Trustee to call a meeting of Holders, by written request setting forth in reasonable
detail the action proposed to be taken at the meeting, and the Trustee shall not have mailed the notice of such meeting within 20 days after receipt of such request, then the Company or such Holders may determine the time and the place for such
meeting and may call such meeting to take any action authorized in Section 13.01, by mailing notice thereof as provided in Section 13.02. 
 Section 13.04. Qualifications for Voting. To be entitled to vote at any meeting of Holders a Person shall (a) be a Holder of one or more Notes on the record date pertaining to such meeting or
(b) be a Person appointed by an instrument in writing as proxy by a Holder of one or more Notes on the record date pertaining to such meeting. The only Persons who shall be entitled to be present or to speak at any meeting of Holders shall be
the Persons entitled to vote at such meeting and their counsel and any representatives of the Trustee and its counsel and any representatives of the Company and its counsel. 
 Section 13.05. Regulations. Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of Holders, in regard
to proof of the holding of Notes and of the appointment of proxies, and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence of the right to vote, and such other
matters concerning the conduct of the meeting as it shall think fit. 
 The Trustee shall, by an instrument in writing, appoint
a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by Holders as provided in Section 13.03, in which case the Company or the Holders calling the meeting, as the case may be, shall in like manner
appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Holders of a majority in principal amount of the Notes represented at the meeting and entitled to vote at the meeting.

 Subject to the provisions of Section 2.08, at any meeting of Holders each Holder or proxyholder shall be entitled to one
vote for each $1,000 principal amount of Notes held or represented by him or her; provided, however, that no vote shall be cast or counted at any meeting in respect of any Note challenged as not outstanding and ruled by the chairman of
the meeting to be not outstanding. The chairman of the meeting shall have no right to vote other than by virtue of Notes held by it or instruments in writing as aforesaid duly designating it as the proxy to vote on behalf of other Holders. Any
meeting of Holders duly called pursuant to the 

  
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provisions of Section 13.02 or Section 13.03 may be adjourned from time to time by the Holders of a majority of the aggregate principal amount of Notes represented at the meeting,
whether or not constituting a quorum, and the meeting may be held as so adjourned without further notice. 
 Section 13.06.
Voting. The vote upon any resolution submitted to any meeting of Holders shall be by written ballot on which shall be subscribed the signatures of the Holders or of their representatives by proxy and the outstanding principal amount of the Notes
held or represented by them. The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their
verified written reports in duplicate of all votes cast at the meeting. A record in duplicate of the proceedings of each meeting of Holders shall be prepared by the secretary of the meeting and there shall be attached to said record the original
reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more Persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was mailed as provided in
Section 13.02. The record shall show the principal amount of the Notes voting in favor of or against any resolution. The record shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one of the
duplicates shall be delivered to the Company and the other to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. 
 Any record so signed and verified shall be conclusive evidence of the matters therein stated. 
 Section 13.07. No Delay of Rights by Meeting. Nothing contained in this Article 13 shall be deemed or construed to authorize or permit, by reason of any call of a meeting of Holders or any rights
expressly or impliedly conferred hereunder to make such call, any hindrance or delay in the exercise of any right or rights conferred upon or reserved to the Trustee or to the Holders under any of the provisions of this Indenture or of the Notes.

 ARTICLE 14 
 SUBSIDIARY GUARANTEES 
 Section 14.01. The
Subsidiary Guarantees. Subject to the provisions of this Article 14, each Subsidiary Guarantor hereby irrevocably and unconditionally guarantees, jointly and severally, on an unsecured basis, the full and punctual payment (whether at the
Maturity Date, at the Fundamental Change Purchase Date, upon acceleration or otherwise) of the principal of, and interest on, and all other amounts or consideration payable or deliverable (as the case may be) under (including the Conversion
Obligation), each Note, and the full and punctual payment of all other amounts or consideration payable or deliverable (as the case may be) by the Company under this Indenture (any such guaranty, a “Subsidiary Guarantee”). Upon
failure by the Company to pay or deliver (as the case may be) punctually any such amount or consideration, each Subsidiary Guarantor shall forthwith on demand pay or deliver (as the case may be) the amount or consideration (as the case may be) not
so paid or delivered (as the case may be) at the place and in the manner specified in this Indenture. 

  
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 Section 14.02. Subsidiary Guarantee Unconditional. The obligations of each Subsidiary
Guarantor hereunder are unconditional and absolute and, without limiting the generality of the foregoing, will not be released, discharged or otherwise affected by: 

(1) any extension, renewal, settlement, compromise, waiver or release in respect of any obligation of the Company under
this Indenture or any Note, by operation of law or otherwise; 
 (2) any modification or amendment of or
supplement to this Indenture or any Note; 
 (3) any change in the corporate existence, structure or ownership of
the Company, or any insolvency, bankruptcy, reorganization or other similar proceeding affecting the Company or its assets or any resulting release or discharge of any obligation of the Company contained in this Indenture or any Note; 

(4) the existence of any claim, set-off or other rights which the Subsidiary Guarantor may have at any time against the
Company, the Trustee or any other Person, whether in connection with this Indenture or any unrelated transactions, provided that nothing herein prevents the assertion of any such claim by separate suit or compulsory counterclaim; 

(5) any invalidity or unenforceability relating to or against the Company for any reason of this Indenture or any Note, or
any provision of applicable law or regulation purporting to prohibit the payment or delivery by the Company of the principal of or interest on any Note or any other amount or consideration payable or deliverable (as the case may be) by the Company
under this Indenture; or 
 (6) any other act or omission to act or delay of any kind by the Company, the Trustee
or any other Person or any other circumstance whatsoever which might, but for the provisions of this paragraph, constitute a legal or equitable discharge of or defense to such Subsidiary Guarantor’s obligations hereunder. 

Section 14.03. Discharge; Reinstatement. Each Subsidiary Guarantor’s obligations hereunder will remain in full force and
effect until the principal of and interest on the Notes and all other amounts or consideration payable or deliverable (as the case may be) by the Company under this Indenture have been paid or delivered (as the case may be) in full. If at any time
any payment of the principal of or interest on any Note or any other amount or consideration payable or deliverable (as the case may be) by the Company under this Indenture is rescinded or must be otherwise restored or returned upon the insolvency,
bankruptcy or reorganization of the Company or otherwise, each Subsidiary Guarantor’s obligations hereunder with respect to such payment or delivery (as the case may be) will be reinstated as though such payment or delivery had been due but not
made at such time. 
 Section 14.04. Waiver by the Subsidiary Guarantors. Each Subsidiary Guarantor irrevocably waives
acceptance hereof, presentment, demand, protest and any notice not provided for herein, as well as any requirement that at any time any action be taken by any Person against the Company or any other Person. 

  
 79 

 Section 14.05. Subrogation and Contribution. Upon making any payment or delivery with
respect to any obligation of the Company under this Article 14, the Subsidiary Guarantor making such payment or delivery (as the case may be) will be subrogated to the rights of the payee against the Company with respect to such obligation,
provided that the Subsidiary Guarantor may not enforce either any right of subrogation, or any right to receive payment in the nature of contribution, or otherwise, from any other Subsidiary Guarantor with respect to such payment or delivery
so long as any amount payable or deliverable by the Company hereunder or under the Notes remains unpaid or undelivered (as the case may be). 
 Section 14.06. Stay of Acceleration. If acceleration of the time for payment or delivery of any amount payable or deliverable (as the case may be) by the Company under this Indenture or the Notes
is stayed upon the insolvency, bankruptcy or reorganization of the Company, all such amounts and/or consideration otherwise subject to acceleration under the terms of this Indenture are nonetheless payable and/or deliverable (as the case may be) by
the Subsidiary Guarantors hereunder forthwith on demand by the Trustee or the Holders. 
 Section 14.07. Limitation on Amount
of Subsidiary Guarantee. Notwithstanding anything to the contrary in this Article 14, each Subsidiary Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that the Subsidiary
Guarantee of such Subsidiary Guarantor not constitute a fraudulent conveyance under applicable fraudulent conveyance provisions of the United States Bankruptcy Code or any comparable provision of state law. To effectuate that intention, the Trustee,
the Holders and the Subsidiary Guarantors hereby irrevocably agree that the obligations of each Subsidiary Guarantor under its Subsidiary Guarantee are limited to the maximum amount that would not render the Subsidiary Guarantor’s obligations
subject to avoidance under applicable fraudulent conveyance provisions of the United States Bankruptcy Code or any comparable provision of state law. 
 Section 14.08. Execution and Delivery of Subsidiary Guarantee. The execution by each Subsidiary Guarantee of this Indenture (or a supplemental indenture in accordance with the terms hereunder)
evidences the Subsidiary Guarantee of such Subsidiary Guarantor, whether or not the person signing as an officer of the Subsidiary Guarantor still holds that office at the time of authentication of any Note. The delivery of any Note by the Trustee
after authentication constitutes due delivery of the Subsidiary Guarantee set forth in this Indenture on behalf of each Subsidiary Guarantor. 
 Section 14.09. Release of Subsidiary Guarantee. (a) The Subsidiary Guarantee of a Subsidiary Guarantor will terminate upon: 

(i) a sale or other disposition (including by way of consolidation or merger) of the Subsidiary Guarantor such that it
ceases to be a Subsidiary of the Company; or 
 (ii) discharge of the Notes, as provided in Article 9.

  
 80 

 (b) Upon delivery by the Company to the Trustee of an Officer’s Certificate and an
Opinion of Counsel to the foregoing effect, the Trustee will execute any documents reasonably required in order to evidence the release of the Subsidiary Guarantor from its obligations under its Subsidiary Guarantee. 

ARTICLE 15 

MISCELLANEOUS 
 Section 15.01. Notices. Any request, demand, authorization, notice, waiver, consent or communication shall be in writing and delivered in Person or mailed by first-class mail, postage prepaid,
addressed as follows or transmitted by facsimile transmission or other similar means of unsecured electronic methods to the following: 
 if to the Company or any Subsidiary Guarantor: 
 Cal Dive
International, Inc. 
 2500 CityWest Boulevard 

Suite 2200 
 Houston, TX 77042 
 Facsimile: (713) 586-7338 

Attention: Lisa Buchanan 
 With a copy (which copy shall be delivered as an accommodation and shall not be required to be delivered in satisfaction of any requirement hereof) to: 

Jones Walker 
 201 St. Charles Avenue 
 Suite 5100 

New Orleans, LA 70170 
 Facsimile: (504) 589-8308 
 Attention: Curtis R. Hearn

 if to the Trustee in any of its roles hereunder: 

The Bank of New York Mellon Trust Company, N.A. 

601 Travis Street, 16th Floor 
 Houston, TX, 77002 
 Facsimile: (713) 483-6954 

Attn: Corporate Trust Division – Corporate Finance Unit 

If a notice or communication is mailed or delivered in the manner provided above within the time prescribed, it is duly given, whether or
not the addressee receives it, except in the case of notices or communications given to the Trustee, which shall be effective only upon actual receipt by the Trustee at its Corporate Trust Office. 

  
 81 

 The Company, any Subsidiary Guarantor or the Trustee, by notice given to each other party in
the manner provided above, may designate additional or different addresses for subsequent notices or communications. 
 Any
notice or communication given to a Holder shall be mailed to the Holder, by first-class mail, postage prepaid, at the Holder’s address as it appears on the registration books of the Registrar and shall be deemed given on the date of such
mailing. 
 Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with
respect to other Holders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not received by the addressee. 
 If the Company mails a notice or communication to the Holders, it shall, at the same time, mail a copy to the Trustee and each of the Registrar, Paying Agent and Conversion Agent. 

If the Company is required under this Indenture to give a notice to the Holders, in lieu of delivering such notice to the Holders, the
Company may deliver such notice to the Trustee and cause the Trustee to have delivered such notice to the Holders on or prior to the date on which the Company would otherwise have been required to deliver such notice to the Holders. In such a case,
the Company shall also cause the Trustee to mail a copy of the notice to each of the Registrar, Paying Agent and Conversion Agent at the same time it mails the notice to the Holders. 

The Trustee shall have the right, but shall not be required, to rely upon and comply with notices, instructions, directions or other
communications sent by e-mail, facsimile and other similar unsecured electronic methods by persons believed by the Trustee to be authorized to give instructions and directions on behalf of the Company. The Trustee shall have no duty or obligation to
verify or confirm that the person who sent such instructions or directions is, in fact, a person authorized to give instructions or directions on behalf of the Company; and the Trustee shall have no liability for any losses, liabilities, costs or
expenses incurred or sustained by the Company as a result of such reliance upon or compliance with such notices, instructions, directions or other communications. The Company agrees to assume all risks arising out of the use of such electronic
methods to submit notices, instructions, directions or other communications to the Trustee, including, without limitation, the risk of the Trustee acting on unauthorized instructions, and the risk of interception and misuse by third parties. The
Company shall use all reasonable endeavors to ensure that any such notices, instructions, directions or other communications transmitted to the Trustee pursuant to this Indenture are complete and correct. Any such notices, instructions, directions
or other communications shall be conclusively deemed to be valid instructions from the Company to the Trustee for the purposes of this Indenture. 
 Section 15.02. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish
to the Trustee: 
 (a) an Officer’s Certificate stating that, in the opinion of the signer, all conditions precedent, if
any, provided for in this Indenture relating to the proposed action have been complied with; and 

  
 82 

 (b) an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions
precedent relating to the proposed action have been complied with; provided that no such Opinion of Counsel shall be required to be delivered in connection with the issuance of the Notes that are issued on the Issue Date. 

Section 15.03. Statements Required in Certificate or Opinion. Each Officer’s Certificate or Opinion of Counsel with respect
to compliance with a covenant or condition (except for such Officer’s Certificate required to be delivered pursuant to Section 5.03) provided for in this Indenture shall include: 

(a) a statement that each Person making such Officer’s Certificate or Opinion of Counsel 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 in such Officer’s Certificate or Opinion of Counsel are based; 
 (c) a statement that, in the opinion of each
such Person, he has made such examination or investigation as is necessary to enable such Person to express an informed judgment as to whether or not such covenant or condition has been complied with; and 

(d) a statement that, in the opinion of such Person, such covenant or condition has been complied with. 

Section 15.04. Severability Clause. In case any provision in this Indenture or in the Notes shall be invalid, illegal or
unenforceable, then (to the extent permitted by law) the validity, legality or enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 15.05. Rules by Trustee. The Trustee may make reasonable rules for action by or a meeting of Holders. 
 Section 15.06. Governing Law. THIS INDENTURE, THE SUBSIDIARY GUARANTEES AND EACH NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO
THE CONFLICTS OF LAWS PROVISIONS THEREOF OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF NEW YORK). 
 Section
15.07. No Recourse Against Others. A director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the Notes or this Indenture or for any claim based on, in respect
of or by reason of such obligations or their creation. By accepting a Note, each Holder shall waive and release all such liability. The waiver and release shall be part of the consideration for the issue of the Notes. 

Section 15.08. Calculations. 
 Except as otherwise provided herein, the Company shall be responsible for making all calculations called for under this Indenture and under the Notes. These calculations include, but

  
 83 

 
are not limited to, determinations of the Closing Sale Prices of the Common Stock, Daily VWAPs, Daily Settlement Amounts, Daily Conversion Values, accrued interest payable on the Notes and the
Conversion Rate in effect on any Conversion Date. 
 The Company shall make these calculations in good faith and, absent
manifest error, such calculations will be final and binding on Holders. The Company shall provide to each of the Trustee and the Conversion Agent a schedule of its calculations, and each of the Trustee and Conversion Agent is entitled to rely
conclusively upon the accuracy of such calculations without independent verification. The Trustee shall forward the Company’s calculations to any Holder upon the request of such Holder. 

All calculations shall be made to the nearest 1/100th of a cent or to the nearest 1/10,000th of a share, as the case may be. 

Section 15.09. Successors. All agreements of the Company, the Subsidiary Guarantors, the Trustee, the Registrar, the Bid
Solicitation Agent, the Paying Agent and the Conversion Agent in this Indenture and the Notes shall bind their respective successors. 
 Section 15.10. Multiple Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. One
signed copy is enough to prove this Indenture. The exchange of copies of this Indenture and of signature pages by facsimile or electronic format (i.e., “pdf” or “tif”) transmission shall constitute effective execution and
delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or electronic format (i.e., “pdf” or “tif”)
shall be deemed to be their original signatures for all purposes. 
 Section 15.11. Table of Contents; Headings. The
table of contents and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions
hereof. 
 Section 15.12. Force Majeure. The Trustee, Registrar, Paying Agent, Bid Solicitation Agent and Conversion
Agent shall not incur any liability for any failure or delay in performing any act or fulfilling any duty, obligation or responsibility hereunder, directly or indirectly, by reason of any occurrence beyond the control of such person (including but
not limited to any act or provision of any present or future law or regulation or governmental authority, any act of God or war, civil unrest, local or national disturbance or disaster, any act of terrorism, other military disturbances, any act of
civil or military authority, sabotage, riots, interruptions, labor disputes or the unavailability of the Federal Reserve Bank wire or facsimile or other wire or communication facility). 

Section 15.13. Submission to Jurisdiction. Each of the Company and each Subsidiary Guarantor (a) agrees that any suit, action
or proceeding against it arising out of or relating to this Indenture, the Subsidiary Guarantees or the Notes, as the case may be, may be instituted in any U.S. federal court with applicable subject matter jurisdiction sitting in The City of New
York; (b) waives, to the fullest extent permitted by applicable law, any objection which it may now or 

  
 84 

 
hereafter have to the laying of venue of any such suit, action or proceeding, and any claim that any suit, action or proceeding in such a court has been brought in an inconvenient forum; and (c)
submits to the non-exclusive jurisdiction of such courts in any suit, action or proceeding. 
 Section 15.14. Legal Holidays.
If any Interest Payment Date, the Maturity Date or any Fundamental Change Purchase Date occurs on a day that is not a Business Day, the payment required to be made on such day shall be postponed until the immediately following Business Day, and
no interest on such payment shall accrue in respect of such delay. 
 Section 15.15. No Security Interest Created. Except
as provided in Section 8.06, nothing in this Indenture or in the Notes, expressed or implied, shall be construed to constitute a security interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and in
effect, in any jurisdiction. 
 Section 15.16. Benefits of Indenture. Nothing in this Indenture or in the Notes,
expressed or implied, shall give to any Person, other than the parties hereto, any Paying Agent, any Conversion Agent, any Bid Solicitation Agent, any authenticating agent, any Registrar and their successors hereunder or the Holders, any benefit or
any legal or equitable right, remedy or claim under this Indenture, other than (i) the right of a beneficial owner to exchange its beneficial interest in a Global Note for a Certificate Note during the continuance of an Event of Default
pursuant to Section 2.12(a)(ii) and (ii) the right of a holder of Common Stock issued upon conversion to enforce the provisions of Section 2.06(i). 
 Section 15.17. Waiver of Jury Trial. EACH OF THE COMPANY, THE SUBSIDIARY GUARANTORS AND THE TRUSTEE, AND EACH HOLDER OF A NOTE BY ITS ACCEPTANCE THEREOF, HEREBY IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

  
 85 

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

									
	CAL DIVE INTERNATIONAL, INC.	 		 	 THE BANK OF NEW YORK MELLON
 TRUST COMPANY, N.A., as Trustee

					
	By:	 	/s/ Quinn J. Hébert	 		 	By:	 	/s/ Julie Hoffman-Ramos
		 	Name: Quinn J. Hébert	 		 		 	Name: Julie Hoffman-Ramos
		 	Title: Chief Executive Officer	 		 		 	Title:Vice President

  

									
	 CDI RENEWABLES, LLC, as
     Subsidiary Guarantor
	 		 	 AFFILIATED MARINE CONTRACTORS,
 INC., as Subsidiary Guarantor

					
	By:	 	/s/ Quinn J. Hébert	 		 	By:	 	/s/ Quinn J. Hébert
		 	Name: Quinn J. Hébert	 		 		 	Name: Quinn J. Hébert
		 	Title: Chief Executive Officer	 		 		 	Title: Chief Executive Officer

  

									
	 CAL DIVE OFFSHORE CONTRACTORS, INC., as
     Subsidiary Guarantor
	 		 	 FLEET PIPELINE SERVICES, INC., as
 Subsidiary Guarantor

					
	By:	 	/s/ Quinn J. Hébert	 		 	By:	 	/s/ Quinn J. Hébert
		 	Name: Quinn J. Hébert	 		 		 	Name: Quinn J. Hébert
		 	Title: Chief Executive Officer	 		 		 	Title: Chief Executive Officer
				
	 GULF OFFSHORE CONSTRUCTION, INC.,
     as Subsidiary Guarantor
	 		 		 	
					
	By:	 	/s/ Quinn J. Hébert	 		 		 	
		 	 Name: Quinn J. Hébert

Title: Chief Executive Officer
	 		 		 	

 EXHIBIT A 
 [FORM OF FACE OF NOTE] 
 [Include the following legend for Global Notes only
(the “Global Securities Legend”):] 
 [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR
IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.] 
 [Include the following legend on all Notes that are Restricted Notes (the “Restricted Securities Legend”):] 

THE SALE OF THIS NOTE HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND,
ACCORDINGLY, PRIOR TO THE RESALE RESTRICTION TERMINATION DATE (AS DEFINED BELOW), THIS NOTE AND ANY COMMON STOCK ISSUABLE UPON CONVERSION OF THIS NOTE MAY NOT BE OFFERED, RESOLD OR OTHERWISE TRANSFERRED, EXCEPT: 

(A) TO CAL DIVE INTERNATIONAL, INC. (THE “COMPANY”) OR ANY SUBSIDIARY THEREOF; 

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

(C) TO A PERSON THAT YOU REASONABLY BELIEVE TO BE A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT
(IF AVAILABLE); OR 
 (D) UNDER 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). 
 THE “RESALE RESTRICTION TERMINATION DATE”
MEANS THE LATER OF: (1) THE DATE THAT IS ONE YEAR AFTER THE LAST DATE OF ORIGINAL ISSUANCE OF THE NOTES OR SUCH SHORTER PERIOD OF TIME PERMITTED BY RULE 144 OR ANY SUCCESSOR PROVISION THERETO; AND (2) SUCH OTHER DATE AS MAY BE REQUIRED BY
APPLICABLE LAW. 

  
 A-1

 PRIOR TO ANY TRANSFER PURSUANT TO THE FOREGOING CLAUSE (D), THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO
REQUIRE THE DELIVERY OF SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS THEY MAY REASONABLY REQUIRE AND MAY RELY UPON TO CONFIRM THAT SUCH TRANSFER IS BEING MADE PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

  
 A-2

 CAL DIVE INTERNATIONAL, INC. 

5.00% Convertible Senior Note due 2017 
  

			
	No. [            ]	  	[Initially]1 $[            ]

 CUSIP No. 12802T AA9 
 Cal Dive International, Inc., a corporation duly organized and validly existing under the laws of the State of Delaware (the “Company,” which term includes any successor corporation or
other entity under the Indenture referred to on the reverse hereof), for value received hereby promises to pay to [CEDE & CO.]2 [            ]3, or registered assigns, the principal sum [as set forth in the
“Schedule of Exchanges of Notes” attached
hereto]4 [of
$[            ]]5, which amount, taken together with the principal amounts of all other outstanding Notes, shall not, unless permitted by the Indenture, exceed $86,250,000 in aggregate at any time, [in accordance with the
rules and procedures of the Depositary,]6 on July 15,
2017, and interest thereon as set forth below. 
 This Note shall bear interest at the rate of 5.00% per year from
July 18, 2012, or from the most recent date to which interest had been paid or provided for to, but excluding, the next scheduled Interest Payment Date until July 15, 2017. Interest is payable semi-annually in arrears on each
January 15 and July 15, commencing on January 15, 2013, to Holders of record at the close of business on the preceding January 1 and July 1 (whether or not such day is a Business Day), respectively. Additional Interest will
be payable as set forth in Section 5.02(b), Section 5.02(c) and Section 7.01(c) of the within-mentioned Indenture, and any reference to interest on, or in respect of, any Note therein shall be deemed to include Additional Interest if,
in such context, Additional Interest is, was or would be payable pursuant to any of such Section 5.02(b), Section 5.02(c) or Section 7.01(c), as applicable and any express mention of the payment of Additional Interest in any provision
therein shall not be construed as excluding Additional Interest in those provisions thereof where such express mention is not made. 
 Payments of the Fundamental Change Purchase Price, cash due upon conversion, principal and interest that are not made when due shall accrue interest per annum at the then-applicable interest rate
plus one percent from the required payment date. 
 The Company shall pay the principal of and interest on this Note, so
long as such Note is evidenced by a Global Note, in immediately available funds to the Depositary or its nominee, as 
  

	1 	 Include if a global note. 

	2 	 Include if a global note. 

	3
 	 Include if a certificated note. 

	4
 	 Include if a global note. 

	5
 	 Include if a certificated note. 

	6 	 Include if a global note. 

	

  
 A-3

 
the case may be, as the registered Holder of such Note. As provided in and subject to the provisions of the Indenture, the Company shall pay the principal of any Notes (other than Notes that are
evidenced by Global Notes) at the office or agency designated by the Company for that purpose. The Company has initially designated the Trustee as its Paying Agent and Registrar in respect of the Notes and its agency in the Borough of Manhattan, The
City of New York, as a place where Notes may be presented for payment or for registration of transfer. 
 Reference is made to
the further provisions of this Note set forth on the reverse hereof, including, without limitation, provisions giving the Holder of this Note the right to convert this Note into cash, shares of Common Stock or a combination of cash and shares of
Common Stock, as applicable, on the terms and subject to the limitations set forth in the Indenture. Such further provisions shall for all purposes have the same effect as though fully set forth at this place. 

This Note shall be construed in accordance with and governed by the laws of the State of New York (without regard to the conflicts of
laws provisions thereof other than Section 5-1401 of the General Obligations Law of New York). 
 In the case of any
conflict between this Note and the Indenture, the provisions of the Indenture shall control and govern. 
 This Note shall not
be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed manually or by facsimile by the Trustee or a duly authorized authenticating agent under the Indenture. 

[Remainder of page intentionally left blank] 

  
 A-4

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

 

			
	CAL DIVE INTERNATIONAL, INC.
		
	By:    	 	 
		 	Name:
		 	Title:

  

			
	Dated:
	
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.
asTrustee, certifies that this is one of the Notes described in the within-named Indenture.

			
		
	By:    	 	 
		 	Authorized Signatory

  
 A-5

 [FORM OF REVERSE OF NOTE] 

CAL DIVE INTERNATIONAL, INC. 
 This Note is one of a duly authorized issue of Notes of the Company, designated as its 5.00% Convertible Senior Notes due 2017 (the “Notes”), limited to the aggregate principal amount of
$86,250,000 all issued or to be issued under and pursuant to an Indenture dated as of July 18, 2012 (the “Indenture”), among the Company, the subsidiary guarantors party thereto (the “Subsidiary Guarantors,” as
more fully set forth in the Indenture) and The Bank of New York Mellon Trust Company, N.A. (the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights,
limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company, the Subsidiary Guarantors and the Holders of the Notes. Additional Notes may be issued in an unlimited aggregate principal amount, subject to certain
conditions specified in the Indenture. This Note is guaranteed by the Subsidiary Guarantors as set forth in the Indenture. 
 In
case certain Events of Default (other than an Event of Default specified in Section 7.01(a)(x) or 7.01(a)(xi) of the Indenture with respect to the Company), as defined in the Indenture, shall have occurred and be continuing, the principal of,
and interest on, all Notes may be declared, by either the Trustee or Holders of at least 25% in aggregate principal amount of Notes then outstanding, and upon said declaration shall become, due and payable, in the manner, with the effect and subject
to the conditions and certain exceptions set forth in the Indenture. 
 Subject to the terms and conditions of the Indenture,
the Company will make all payments and deliveries in respect of the Fundamental Change Purchase Price and the principal amount on the Maturity Date, as the case may be, to the Holder who surrenders a Note to a Paying Agent to collect such payments
in respect of the Note. The Company will pay cash amounts in money of the United States that at the time of payment is legal tender for payment of public and private debts. 
 The Indenture contains provisions permitting the Company, the Subsidiary Guarantors and the Trustee in certain circumstances, without the consent of the Holders of the Notes, and in certain other
circumstances, with the consent of the Holders of not less than a majority in aggregate principal amount of the Notes at the time outstanding, evidenced as in the Indenture provided, to execute supplemental indentures modifying the terms of the
Indenture and the Notes as described therein. It is also provided in the Indenture that, subject to certain exceptions, the Holders of a majority in aggregate principal amount of the Notes at the time outstanding may on behalf of the Holders of all
of the Notes waive any past Default or Event of Default under the Indenture and its consequences. 
 No reference herein to the
Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay or deliver, as the case may be, the principal (including the Fundamental Change Purchase
Price, if applicable) of, accrued and unpaid interest on, and the consideration due upon conversion of, this Note at the place, at the respective times, at the rate and in the lawful money herein prescribed. 

  
 A-6

 The Notes are issuable in registered form without coupons in denominations of $1,000
principal amount and integral multiples thereof. At the office or agency of the Company referred to on the face hereof, and in the manner and subject to the limitations provided in the Indenture, Notes may be exchanged for a like aggregate principal
amount of Notes of other authorized denominations, without payment of any service charge but, if required by the Company or Trustee, with payment of a sum sufficient to cover any documentary, stamp or similar issue or transfer taxes or governmental
charges that may be imposed in connection therewith as a result of the name of the Holder of the new Notes issued upon such exchange of Notes being different from the name of the Holder of the old Notes surrendered for such exchange. 

The Notes are not subject to redemption through the operation of any sinking fund or otherwise. 

Upon the occurrence of a Fundamental Change, the Holder has the right, at such Holder’s option, to require the Company to purchase
for cash all of such Holder’s Notes or any portion thereof (in principal amounts of $1,000 or integral multiples thereof) on the Fundamental Change Purchase Date at a price equal to the Fundamental Change Purchase Price. 

Subject to the provisions of the Indenture, the Holder hereof has the right, at its option, during certain periods and upon the
occurrence of certain conditions specified in the Indenture, prior to the Close of Business on the Business Day immediately preceding the Maturity Date, to convert any Notes or portion thereof that is $1,000 or an integral multiple in excess
thereof, into cash, shares of Common Stock or a combination of cash and shares of Common Stock, as applicable, based on the Conversion Rate specified in the Indenture, as adjusted from time to time as provided in the Indenture. 

Terms used in this Note and defined in the Indenture are used herein as therein defined. 

  
 A-7

 ABBREVIATIONS 
 The following abbreviations, when used in the inscription of the face of this Note, shall be construed as though they were written out in full according to applicable laws or regulations: 

TEN COM = as tenants in common 
 UNIF GIFT MIN
ACT = Uniform Gifts to Minors Act 
 CUST = Custodian 
 TEN ENT = as tenants by the entireties 
 JT TEN = joint tenants with right of survivorship and not
as tenants in common 
 Additional abbreviations may also be used though not in the above list. 

  
 A-8

 SCHEDULE A7 
 SCHEDULE OF EXCHANGES OF NOTES 
 CAL DIVE INTERNATIONAL, INC. 

5.00% Convertible Senior Notes due 2017 
 The initial principal amount of this Global Note is EIGHTY-SIX MILLION TWO HUNDRED FIFTY THOUSAND DOLLARS ($86,250,000). The following increases or decreases in this Global Note have been made:

  

									
	 Date of exchange
	 	 Amount of
decrease in
principal amount
of this Global Note
	 	 Amount of increase
in
principal amount
of this Global Note
	 	 Principal amount
of this Global Note
following
such decrease or increase
	 	 Signature of authorized
signatory of Trustee
or
Custodian

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

	  
	 	  
	 	  
	 	  
	 	  

  

 

	7 	 Include if a global note. 

  
 A-9

 ATTACHMENT 1 
 [FORM OF NOTICE OF CONVERSION] 
 NOTICE OF CONVERSION 

To: Cal Dive International, Inc. 
 The undersigned registered owner of this Note hereby exercises the option to convert this Note, or the portion hereof (that is $1,000 principal amount or an integral multiple thereof) below designated,
into cash, shares of Common Stock or a combination of cash and shares of Common Stock, as applicable, in accordance with the terms of the Indenture referred to in this Note, and directs that any cash payable and any shares of Common Stock issuable
and deliverable upon such conversion, together with any cash for any fractional share, and any Notes representing any unconverted principal amount hereof, be issued and delivered to the registered Holder hereof unless a different name has been
indicated below. If any shares of Common Stock or any portion of this Note not converted are to be issued in the name of a Person other than the undersigned, the undersigned will pay all documentary, stamp or similar issue or transfer taxes or
governmental charges, if any, in accordance with Section 11.02(h) of the Indenture. Any amount required to be paid to the undersigned on account of interest accompanies this Note. 

 

									
	Dated:  	 	 	 		  	 	  	
					
		 		 		  	 	  	
		 		 		  	Signature(s)	  	

  

	
	  
	Signature Guarantee
	
	Signature(s) must be guaranteed by an eligible Guarantor Institution (banks, stock brokers, savings and loan associations and credit unions) with membership in an approved
signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15 if shares of Common Stock are to be issued, or Notes are to be delivered, other than to and in the name of the registered holder.
	
	Fill in for registration of shares if to be issued, and Notes if to

  

  
 A-10

	
	be delivered, other than to and in the name of the registered holder:
	
	  
	(Name)
	
	 
	(Street Address)
	
	 
	 (City, State and Zip Code)

Please print name and address

  

	
	Principal amount to be converted (if less than all): $            ,000
	
	NOTICE: The above signature(s) of the Holder(s) hereof must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or
any change whatever.
	
	 
	Social Security or Other Taxpayer Identification Number

  
 A-11

 ATTACHMENT 2 
 [FORM OF FUNDAMENTAL CHANGE PURCHASE NOTICE] 
 FUNDAMENTAL CHANGE PURCHASE
NOTICE 
 To: Cal Dive International, Inc. 
 The undersigned registered owner of this Note hereby acknowledges receipt of a notice from Cal Dive International, Inc. (the “Company”) as to the occurrence of a Fundamental Change with
respect to the Company and specifying the Fundamental Change Purchase Date and requests and instructs the Company to pay to the registered holder hereof in accordance with Article 3 of the Indenture referred to in this Note (1) the entire
principal amount of this Note, or the portion thereof (that is $1,000 principal amount or an integral multiple thereof) below designated, and (2) if such Fundamental Change Purchase Date does not fall during the period after a Record Date and
on or prior to the corresponding Interest Payment Date, accrued and unpaid interest, if any, thereon to, but excluding, such Fundamental Change Purchase Date. 
 In the case of Certificated Notes, the certificate numbers of the Notes to be repurchased are as set forth below: 
 Dated:
                                        

  

	
	 
	Signature(s)
	
	 
	 Social Security or Other Taxpayer
 Identification Number

	
	Principal amount to be repaid (if less than all): $            ,000
	
	NOTICE: The above signature(s) of the Holder(s) hereof must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or
any change whatever.

  
 A-12

 ATTACHMENT 3 
 [FORM OF ASSIGNMENT AND TRANSFER] 
 ASSIGNMENT AND TRANSFER

 5.00% Convertible Senior Notes due 2017 
 For value received              hereby sell(s), assign(s) and transfer(s) unto
             (Please insert social security or Taxpayer Identification Number of assignee) the within Note, and hereby irrevocably constitutes and appoints
             attorney to transfer the said Note on the books of the Company, with full power of substitution in the premises. 
 In connection with any transfer of the within Note occurring prior to the Resale Restriction Termination Date, as defined in the Indenture governing such Note, the undersigned confirms that such Note is
being transferred: 
  ̈         To Cal Dive
International, Inc. or a subsidiary thereof; or 

 ̈         Pursuant to a registration statement that has become or
been declared effective under the Securities Act of 1933, as amended; or 

 ̈         Pursuant to and in compliance with Rule 144A under the
Securities Act of 1933, as amended (if available); or 

 ̈         Pursuant to and in compliance with Rule 144 under the
Securities Act of 1933, as amended, or any other available exemption from the registration requirements of the Securities Act of 1933, as amended. 

  
 A-13

 Dated:
                                         
        
  

	
	
	 
	
	  
	Signature(s)
	
	 
	Signature Guarantee
	
	Signature(s) must be guaranteed by an eligible Guarantor Institution (banks, stock brokers, savings and loan associations and credit unions) with membership in an approved
signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15 if Notes are to be delivered, other than to and in the name of the registered holder.

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

  
 A-14

 EXHIBIT B 
 RESTRICTED STOCK LEGEND 
 THE SALE OF THIS SECURITY HAS NOT BEEN REGISTERED
UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND ACCORDINGLY, PRIOR TO THE RESALE RESTRICTION TERMINATION DATE (AS DEFINED BELOW), THIS SECURITY MAY NOT BE OFFERED, RESOLD, OR OTHERWISE TRANSFERRED, EXCEPT:

  

	(A)	TO CAL DIVE INTERNATIONAL, INC. (THE “COMPANY”) OR ANY SUBSIDIARY THEREOF; 

 

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

 

	(C)	TO A PERSON THAT YOU REASONABLY BELIEVE TO BE A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT (IF AVAILABLE); OR

  

	(D)	UNDER 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). 

 THE “RESALE RESTRICTION TERMINATION DATE” MEANS THE LATER OF: (1) THE DATE THAT
IS ONE YEAR AFTER THE LAST DATE OF ORIGINAL ISSUANCE OF THE COMPANY’S 5.00% CONVERTIBLE SENIOR NOTES DUE 2017 OR SUCH SHORTER PERIOD OF TIME PERMITTED BY RULE 144 OR ANY SUCCESSOR PROVISION THERETO; AND (2) SUCH OTHER DATE AS MAY BE
REQUIRED BY APPLICABLE LAW. 
 PRIOR TO ANY TRANSFER PURSUANT TO THE FOREGOING CLAUSE (D), THE COMPANY AND THE COMPANY’S
TRANSFER AGENT RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS THEY MAY REASONABLY REQUIRE AND MAY RELY UPON TO CONFIRM THAT SUCH TRANSFER IS BEING MADE PURSUANT TO AN EXEMPTION FROM, OR IN A
TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

  
 B-1

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