Document:

EX-4.2

 EXHIBIT 4.2 

REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT dated September 19, 2019 (the “Agreement”) is entered into by and among Expedia
Group, Inc., a Delaware corporation (the “Company”), the subsidiary guarantors listed in Schedule 1 hereto (the “Guarantors”), and BofA Securities, Inc., J.P. Morgan Securities LLC and Goldman Sachs & Co.
LLC, as representatives (the “Representatives”) of the initial purchasers (the “Initial Purchasers”) listed in Schedule 1 to the Purchase Agreement dated September 11, 2019 (the “Purchase
Agreement”). 
 The Company, the Guarantors and the Representatives are parties to the Purchase Agreement which provides for the
sale by the Company to the Initial Purchasers of $1,250,000,000 aggregate principal amount of the Company’s 3.25% Senior Notes due 2030 (the “Securities”) which will be guaranteed on an unsecured senior basis by each of the
Guarantors. As an inducement to the Initial Purchasers to enter into the Purchase Agreement, the Company and the Guarantors have agreed to provide to the Initial Purchasers and their direct and indirect transferees the registration rights set forth
in this Agreement. The execution and delivery of this Agreement is a condition to the closing under the Purchase Agreement. 
 In
consideration of the foregoing, the parties hereto agree as follows: 
 SECTION 1.    Definitions. As used in
this Agreement, the following terms shall have the following meanings: 
 “Additional Guarantor” shall mean any subsidiary
of the Company that becomes a Guarantor under the Indenture after the date of this Agreement. 
 “Business Day” shall mean
any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to remain closed. 

“Company” shall have the meaning set forth in the preamble and shall also include the Company’s successors. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time. 

“Exchange Dates” shall have the meaning set forth in Section 2(a)(ii) hereof. 

“Exchange Offer” shall mean the exchange offer by the Company and the Guarantors of Exchange Securities for Registrable
Securities pursuant to Section 2(a) hereof. 
 “Exchange Offer Registration” shall mean a
registration under the Securities Act effected pursuant to Section 2(a) hereof. 
 “Exchange Offer
Registration Statement” shall mean an exchange offer registration statement on Form S-4 (or, if applicable, on another appropriate form) and all amendments and supplements to such registration
statement, in each case including the Prospectus contained therein or deemed a part thereof, all exhibits thereto and any document incorporated by reference therein. 

 “Exchange Securities” shall mean senior notes issued by the Company and
guaranteed by the Guarantors under the Indenture containing terms identical to the Securities (except that the Exchange Securities will not be subject to restrictions on transfer or to any increase in annual interest rate for failure to comply with
this Agreement) and to be offered to Holders of Securities in exchange for Securities pursuant to the Exchange Offer. 
 “Free
Writing Prospectus” means each free writing prospectus (as defined in Rule 405 under the Securities Act) prepared by or on behalf of the Company or used or referred to by the Company in connection with the sale of the Securities or the
Exchange Securities. 
 “Guarantors” shall have the meaning set forth in the preamble and shall also include any Additional
Guarantors. 
 “Holders” shall mean the Initial Purchasers, for so long as they own any Registrable Securities, and each of
their successors, assigns and direct and indirect transferees who become owners of Registrable Securities under the Indenture; provided that for purposes of Sections 4 and 5 of this Agreement, the term
“Holders” shall include Participating Broker-Dealers. 
 “Indemnified Person” shall have the meaning set forth in
Section 5(c) hereof. 
 “Indemnifying Person” shall have the meaning set forth in
Section 5(c) hereof. 
 “Indenture” shall mean the Indenture relating to the Securities dated as
of September 19, 2019 among the Company, the Guarantors and U.S. Bank National Association, as trustee, and as the same may be amended from time to time in accordance with the terms thereof. 

“Initial Purchasers” shall have the meaning set forth in the preamble. 

“Inspector” shall have the meaning set forth in Section 3(a)(xiii) hereof. 

“Issuer Information” shall have the meaning set forth in Section 5(a) hereof. 

“Majority Holders” shall mean the Holders of a majority of the aggregate principal amount of the outstanding Registrable
Securities; provided that whenever the consent or approval of Holders of a specified percentage of Registrable Securities is required hereunder, any Registrable Securities owned directly or indirectly by the Company or any of its affiliates
shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage or amount; and provided further that if the Company shall issue any additional Securities under the Indenture prior to
consummation of the Exchange Offer or, if applicable, the effectiveness of any Shelf Registration Statement, such additional Securities and the Registrable Securities to which this Agreement relates shall be treated together as one class for
purposes of determining whether the consent or approval of Holders of a specified percentage of Registrable Securities has been obtained. 

“Participating Broker-Dealers” shall have the meaning set forth in Section 4(a) hereof. 

  
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 “Person” shall mean an individual, partnership, limited liability company,
corporation, trust or unincorporated organization, or a government or agency or political subdivision thereof. 

“Prospectus” shall mean the prospectus included in, or, pursuant to the rules and regulations of the Securities Act, deemed a
part of, a Registration Statement, including any preliminary prospectus, and any such prospectus as amended or supplemented by any prospectus supplement, including a prospectus supplement with respect to the terms of the offering of any portion of
the Registrable Securities covered by a Shelf Registration Statement, and by all other amendments and supplements to such prospectus, and in each case including any document incorporated by reference therein. 

“Purchase Agreement” shall have the meaning set forth in the preamble. 

“Representatives” shall have the meaning set forth in the preamble. 

“Registrable Securities” shall mean the Securities; provided that the Securities shall cease to be Registrable
Securities (i) when a Registration Statement with respect to such Securities has become effective under the Securities Act and such Securities have been exchanged or disposed of pursuant to such Registration Statement, (ii) on the earliest
date that is no less than two years after the date of this Agreement and on which all Securities (except Securities held by an affiliate of the Company) are no longer subject to any restrictions on transfer under the Securities Act, including those
pursuant to Rule 144 under the Securities Act or (iii) when such securities cease to be outstanding. 
 “Registration
Default” shall have the meaning set forth in Section 2(d) hereof. 
 “Registration
Expenses” shall mean any and all expenses incident to performance of or compliance by the Company and the Guarantors with this Agreement, including without limitation: (i) all SEC, stock exchange or Financial Industry Regulatory
Authority, Inc. (“FINRA”) registration and filing fees, (ii) all fees and expenses incurred in connection with compliance with state securities or blue sky laws (including reasonable fees and disbursements of one counsel for
the Holders (which counsel shall be selected by the Majority Holders and which counsel may also be counsel for the Underwriters) in connection with blue sky qualification of any Exchange Securities or Registrable Securities), (iii) all
reasonable expenses of any Persons in preparing or assisting in preparing, word processing, printing and distributing any Registration Statement, any Prospectus and any amendments or supplements thereto, any underwriting agreements, securities sales
agreements or other similar agreements and any other documents relating to the performance of and compliance with this Agreement, (iv) all rating agency fees, (v) all fees and disbursements relating to the qualification of the Indenture
under applicable securities laws, (vi) the reasonable fees and disbursements of the Trustee and its counsel, (vii) the reasonable fees and disbursements of counsel for the Company and the Guarantors and, in the case of a Shelf Registration
Statement, the reasonable fees and disbursements of one counsel for the Holders (which counsel shall be selected by the Majority Holders and which counsel may also be counsel for the Initial Purchasers) and (viii) the reasonable fees and
disbursements of the independent public accountants of the Company and the Guarantors, including the expenses of any special audits or “comfort” letters required by or incident to the performance of and compliance with this Agreement, but
excluding fees and 

  
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expenses of counsel to the Underwriters (other than fees and expenses set forth in clause (ii) above) or the Holders and underwriting discounts and commissions, brokerage commissions and
transfer taxes, if any, relating to the sale or disposition of Registrable Securities by a Holder. 
 “Registration
Statement” shall mean any registration statement of the Company and the Guarantors that covers any of the Exchange Securities or Registrable Securities pursuant to the provisions of this Agreement and all amendments and supplements to any
such registration statement, including post-effective amendments, in each case including the Prospectus contained therein or deemed a part thereof, all exhibits thereto and any document incorporated by reference therein. 

“SEC” shall mean the United States Securities and Exchange Commission. 

“Securities” shall have the meaning set forth in the preamble. 

“Securities Act” shall mean the Securities Act of 1933, as amended from time to time. 

“Shelf Effectiveness Period” shall have the meaning set forth in Section 2(b) hereof. 

“Shelf Registration” shall mean a registration effected pursuant to Section 2(b) hereof. 

“Shelf Registration Statement” shall mean a “shelf” registration statement (or post-effective amendment or
supplement to an existing shelf registration statement) of the Company and the Guarantors that covers all or a portion of the Registrable Securities on an appropriate form under Rule 415 under the Securities Act, or any similar rule that may be
adopted by the SEC, and all amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein or deemed a part thereof, all exhibits thereto and any document
incorporated by reference therein. 
 “Shelf Request” shall have the meaning set forth in
Section 2(b) hereof. 
 “Staff” shall mean the staff of the SEC. 

“Subsidiary Guarantees” shall mean the guarantees of the Securities and Exchange Securities by the Guarantors under the
Indenture. 
 “Target Registration Date” shall mean the date which is 365 days from the date hereof. 

“Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended from time to time. 

“Trustee” shall mean the trustee with respect to the Securities under the Indenture. 

“Underwriter” shall have the meaning set forth in Section 3(e) hereof. 

“Underwritten Offering” shall mean an offering in which Registrable Securities are sold to an Underwriter for reoffering to
the public. 

  
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 SECTION 2.    Registration Under the Securities Act. (a) To
the extent not prohibited by any applicable law or applicable interpretations of the Staff, the Company and the Guarantors shall use their commercially reasonable best efforts to (i) cause to be filed an Exchange Offer Registration Statement
covering an offer to the Holders to exchange all the Registrable Securities for Exchange Securities, (ii) cause such Exchange Offer Registration Statement to become effective and (iii) have such Registration Statement remain effective
until 180 days after the last Exchange Date for use by one or more Participating Broker-Dealers. The Company and the Guarantors shall commence the Exchange Offer promptly after the Exchange Offer Registration Statement is declared effective by the
SEC and use their commercially reasonable best efforts to complete the Exchange Offer not later than (1) 30 days after such effective date (or if such 30th day is not a Business Day, the next succeeding Business Day) and (2) the Target
Registration Date. 
 The Company and the Guarantors shall commence the Exchange Offer by mailing in compliance with the applicable
procedures of the depositary the related Prospectus, appropriate letters of transmittal and other accompanying documents to each Holder stating, in addition to such other disclosures as are required by applicable law, substantially the following:

 (i)    that the Exchange Offer is being made pursuant to this Agreement and that all Registrable
Securities validly tendered and not properly withdrawn will be accepted for exchange; 
 (ii)    the
dates of acceptance for exchange (which shall be a period of at least 20 Business Days from the date such notice is mailed) (the “Exchange Dates”); 

(iii)    that any Registrable Security not tendered will remain outstanding and continue to accrue interest
but will not retain any rights under this Agreement, except as otherwise specified herein; 

(iv)    that any Holder electing to have a Registrable Security exchanged pursuant to the Exchange Offer
will be required to (A) surrender such Registrable Security, together with the appropriate letters of transmittal, to the institution and at the address (located in the Borough of Manhattan, The City of New York) and in the manner specified in
the notice, or (B) effect such exchange otherwise in compliance with the applicable procedures of the depositary for such Registrable Security, in each case prior to the close of business on the last Exchange Date; and 

(v)    that any Holder will be entitled to withdraw its election, not later than the close of business on
the last Exchange Date, by (A) delivering to the institution and at the address (located in the Borough of Manhattan, The City of New York) specified in the notice, a facsimile transmission or letter setting forth the name of such Holder, the
principal amount of Registrable Securities delivered for exchange and a statement that such Holder is withdrawing its election to have such Securities exchanged or (B) effecting such withdrawal in compliance with the applicable procedures of
the depositary for the Registrable Securities. 

  
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 As a condition to participating in the Exchange Offer, a Holder will be required to
represent to the Company and the Guarantors that (i) any Exchange Securities to be received by it will be acquired in the ordinary course of its business, (ii) at the time of the commencement of the Exchange Offer it has no arrangement or
understanding with any Person to participate in the distribution (within the meaning of the Securities Act) of the Exchange Securities in violation of the provisions of the Securities Act, (iii) it is not an “affiliate” (within the
meaning of Rule 405 under the Securities Act) of the Company or any Guarantor and (iv) if such Holder is a broker-dealer that will receive Exchange Securities for its own account in exchange for Registrable Securities that were acquired as
a result of market-making or other trading activities, then such Holder will deliver a Prospectus (or, to the extent permitted by law, make available a Prospectus to purchasers) in connection with any resale of such Exchange Securities. 

As soon as practicable after the last Exchange Date, the Company and the Guarantors shall: 

(i) accept for exchange Registrable Securities or portions thereof validly tendered and not properly withdrawn pursuant to the
Exchange Offer; and 
 (ii) deliver, or cause to be delivered, to the Trustee for cancellation all Registrable Securities or
portions thereof so accepted for exchange by the Company and issue, and cause the Trustee to promptly authenticate and deliver to each Holder, Exchange Securities equal in principal amount to the principal amount of the Registrable Securities
tendered by such Holder. 
 The Company and the Guarantors shall use their commercially reasonable best efforts to complete the Exchange
Offer as provided above and shall comply with the applicable requirements of the Securities Act, the Exchange Act and other applicable laws and regulations in connection with the Exchange Offer. The Exchange Offer shall not be subject to any
conditions, other than that the Exchange Offer does not violate any applicable law or applicable interpretations of the Staff. 

(b)    In the event that (i) the Company and the Guarantors determine that the Exchange Offer Registration provided
for in Section 2(a) above is not available or may not be completed as soon as reasonably practicable after the last Exchange Date because it would violate any applicable law or applicable interpretations of the Staff,
(ii) the Exchange Offer is not for any other reason completed by the Target Registration Date or (iii) upon receipt of a written request (a “Shelf Request”) from any Initial Purchaser representing that it holds Registrable
Securities that were ineligible to be exchanged in the Exchange Offer, the Company and the Guarantors shall use their commercially reasonable best efforts to cause to be filed as soon as practicable after such determination date or Shelf Request, as
the case may be, a Shelf Registration Statement providing for the sale of all the Registrable Securities by the Holders thereof and to have such Shelf Registration Statement become effective. 

In the event that the Company and the Guarantors are required to file a Shelf Registration Statement pursuant to
clause (iii) of the preceding sentence, the Company and the Guarantors shall use their commercially reasonable best efforts to file and have become effective both an Exchange Offer Registration Statement pursuant to
Section 2(a) with respect to all 

  
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Registrable Securities and a Shelf Registration Statement (which may be a combined Registration Statement with the Exchange Offer Registration Statement) with respect to offers and sales of
Registrable Securities held by the Initial Purchasers after completion of the Exchange Offer. 
 The Company and the Guarantors agree to use
their commercially reasonable best efforts to keep the Shelf Registration Statement continuously effective until the date on which the Securities registered thereunder cease to constitute Registrable Securities (the “Shelf Effectiveness
Period”). The Company and the Guarantors further agree to supplement or amend the Shelf Registration Statement and the related Prospectus if required by the rules, regulations or instructions applicable to the registration form used by the
Company for such Shelf Registration Statement or by the Securities Act or by any other rules and regulations thereunder or if reasonably requested by a Holder of Registrable Securities with respect to information relating to such Holder, and to use
their commercially reasonable best efforts to cause any such amendment to become effective, if required, and such Shelf Registration Statement and Prospectus to become usable as soon as thereafter practicable. The Company and the Guarantors agree to
furnish to the Holders of Registrable Securities (or file on EDGAR) copies of any such supplement or amendment promptly after its being used or filed with the SEC. 

(c)    The Company and the Guarantors shall pay all Registration Expenses in connection with any registration pursuant to
Section 2(a) or Section 2(b) hereof. Each Holder shall pay all underwriting discounts and commissions, brokerage commissions and transfer taxes, if any, relating to the sale or disposition of such
Holder’s Registrable Securities pursuant to the Shelf Registration Statement. 
 (d)    An Exchange Offer
Registration Statement pursuant to Section 2(a) hereof will not be deemed to have become effective unless it has been declared effective by the SEC. A Shelf Registration Statement pursuant to
Section 2(b) hereof will not be deemed to have become effective unless it has been declared effective by the SEC or is automatically effective upon filing with the SEC as provided by Rule 462 under the Securities Act. 

In the event that neither the Exchange Offer has been completed nor, if required in lieu thereof pursuant to
Section 2(b)(i) or 2(b)(ii) hereof, the Shelf Registration Statement has become effective, on or prior to the Target Registration Date (such event, a “Registration Default”), the annual interest rate
on the Registrable Securities will be increased by 0.25% per annum from the date of such Registration Default to but excluding the earlier of the date such Registration Default is cured or the Securities cease to be Registrable Securities. In the
event that the Company receives a Shelf Request pursuant to Section 2(b)(iii), and the Shelf Registration Statement required to be filed thereby has not become effective by the later of (a) the Target Registration Date
or (b) 90 days after delivery of such Shelf Request, then the annual interest rate on the Registrable Securities will be increased by 0.25% per annum for the period from such date to but excluding the earlier of (i) the date on which such Shelf
Registration Statement is declared effective and (ii) the date that the Securities cease to be Registrable Securities. 

Notwithstanding the foregoing, (1) the Company and the Guarantors shall in no event be required to pay additional interest in excess of
0.25% per annum even if more than one 

  
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Registration Default exists at any given time and (2) a Holder of Securities who is not entitled to the benefits of a Shelf Registration Statement shall not be entitled to additional
interest with respect to a Registration Default that pertains to such Shelf Registration Statement. 
 If the Shelf Registration Statement,
if required hereby, has become effective and thereafter either ceases to be effective or the Prospectus contained therein ceases to be usable, in each case whether or not permitted by this Agreement, at any time during the Shelf Effectiveness
Period, then the annual interest rate on the Registrable Securities will be increased by 0.25% per annum commencing on the day that the Shelf Registration Statement ceases to be effective or the Prospectus ceases to be usable to but excluding the
earlier of (i) the date that the Shelf Registration Statement has again become effective or the Prospectus again becomes usable and (ii) the date that the Shelf Effectiveness Period ends; provided that if the failure of the Shelf
Registration Statement to be effective or the Prospectus to be usable is otherwise permitted by this Agreement, then the increase in interest rate will only be effective if such failure to be effective or usable exists for more than 30 days (whether
or not consecutive) in any 12-month period and such increase will commence on the 31st day that such failure to be effective or usable exists in such 12-month period.

 (e)    Without limiting the remedies available to the Initial Purchasers and the Holders, the Company and the
Guarantors acknowledge that any failure by the Company or the Guarantors to comply with their obligations under Section 2(a) and Section 2(b) hereof may result in material irreparable injury to the
Initial Purchasers or the Holders for which there is no adequate remedy at law, that it will not be possible to measure damages for such injuries precisely and that, in the event of any such failure, the Initial Purchasers or any Holder may obtain
such relief as may be required to specifically enforce the Company’s and the Guarantors’ obligations under Section 2(a) and Section 2(b) hereof. 

(f)    The Company represents, warrants and covenants that it (including its agents and representatives) will not prepare,
make, use, authorize, approve or refer to any “written communication” (as defined in Rule 405 under the Securities Act), other than any communication pursuant to Rule 134 under the Securities Act, any document constituting an
offer to sell or solicitation of an offer to buy the Securities or the Exchange Securities that falls within the exception from the definition of prospectus in Section 2(a)(10)(a) of the Securities Act or a prospectus satisfying the
requirements of Section 10(a) of the Securities Act or of Rule 430, Rule 430A, Rule 430B, Rule 430C or Rule 431 under the Securities Act. 

(g)    The additional interest provided for above shall be payable at the same times, in the same manner and to the same
persons as ordinary interest on the Registrable Securities. 
 SECTION 3.    Registration Procedures. (a) In
connection with their obligations pursuant to Section 2(a) and Section 2(b) hereof, the Company and the Guarantors shall as expeditiously as reasonably possible: 

(i)    prepare and file with the SEC a Registration Statement on the appropriate form under the Securities
Act, which form (x) shall be selected by the Company and the Guarantors, (y) shall, in the case of a Shelf Registration, be available 

  
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for the sale of the Registrable Securities by the Holders thereof and (z) shall comply as to form in all material respects with the requirements of the applicable form and include all
financial statements required by the SEC to be filed therewith; and use their commercially reasonable best efforts to cause such Registration Statement to become effective and remain effective for the applicable period in accordance with
Section 2 hereof; 
 (ii)    prepare and file with the SEC such amendments and
post-effective amendments to each Registration Statement as may be necessary to keep such Registration Statement effective for the applicable period in accordance with Section 2 hereof and cause each Prospectus to be
supplemented by any required prospectus supplement and, as so supplemented, to be filed pursuant to Rule 424 under the Securities Act; and keep each Prospectus current during the period described in Section 4(3) of, and Rule 174
under, the Securities Act that is applicable to transactions by brokers or dealers with respect to the Registrable Securities or Exchange Securities; 

(iii)    in the case of a Shelf Registration, furnish to each Holder of Registrable Securities, to counsel
for the Initial Purchasers, to counsel for such Holders and to each Underwriter of an Underwritten Offering of Registrable Securities, if any, without charge, upon request, as many copies of each Prospectus or preliminary prospectus, and any
amendment or supplement thereto, as such Holder, counsel or Underwriter may reasonably request in order to facilitate the sale or other disposition of the Registrable Securities thereunder; and the Company and the Guarantors consent to the use of
such Prospectus, preliminary prospectus and any amendment or supplement thereto in accordance with applicable law by each of the Holders of Registrable Securities and any such Underwriters in connection with the offering and sale of the Registrable
Securities covered by and in the manner described in such Prospectus, preliminary prospectus or any amendment or supplement thereto in accordance with applicable law; 

(iv)    use their commercially reasonable best efforts to register or qualify the Registrable Securities
under all applicable state securities or blue sky laws of such jurisdictions as any Holder of Registrable Securities covered by a Registration Statement shall reasonably request in writing by the time the applicable Registration Statement becomes
effective; cooperate with such Holders in connection with any filings required to be made with the FINRA; and do any and all other acts and things that may be reasonably necessary or advisable to enable each Holder to complete the disposition in
each such jurisdiction of the Registrable Securities owned by such Holder; provided that neither the Company nor any Guarantor shall be required to (1) qualify as a foreign corporation or other entity or as a dealer in securities in any
such jurisdiction where it would not otherwise be required to so qualify, (2) file any general consent to service of process in any such jurisdiction, (3) subject itself to taxation or tariff in any such jurisdiction if it is not so
subject or (4) make any change to its charter or by-laws or similar organizational documents; 

(v)    notify counsel for the Initial Purchasers and, in the case of a Shelf Registration, notify each
Holder of Registrable Securities and counsel for such Holders 

  
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promptly and, if requested by any such Holder or counsel, confirm such advice in writing (1) when a Registration Statement has become effective, when any post-effective amendment thereto has
been filed and becomes effective and when any amendment or supplement to the Prospectus has been filed, (2) of any request by the SEC or any state securities authority for amendments and supplements to a Registration Statement or Prospectus or
for additional information after the Registration Statement has become effective, (3) of the issuance by the SEC or any state securities authority of any stop order suspending the effectiveness of a Registration Statement or the initiation of
any proceedings for that purpose, including the receipt by the Company of any notice of objection of the SEC to the use of a Shelf Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities
Act, (4) if, between the applicable effective date of a Shelf Registration Statement and the closing of any sale of Registrable Securities covered thereby, the representations and warranties of the Company or any Guarantor contained in any
underwriting agreement, securities sales agreement or other similar agreement, if any, relating to an offering of such Registrable Securities cease to be true and correct in all material respects or if the Company or any Guarantor receives any
notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation of any proceeding for such purpose, (5) of the happening of any event during the period a Registration
Statement is effective that makes any statement made in such Registration Statement or the related Prospectus untrue in any material respect or that requires the making of any changes in such Registration Statement or Prospectus in order to make the
statements therein not misleading and (6) of any determination by the Company or any Guarantor that a post-effective amendment to a Registration Statement or any amendment or supplement to the Prospectus would be appropriate; 

(vi)    use their commercially reasonable best efforts to obtain the withdrawal of any order suspending the
effectiveness of a Registration Statement or, in the case of a Shelf Registration, the resolution of any objection of the SEC pursuant to Rule 401(g)(2) under the Securities Act, including by filing an amendment to such Shelf Registration
Statement on the proper form, as soon as practicable and provide prompt notice to each Holder of the withdrawal of any such order or such resolution; 

(vii)    in the case of a Shelf Registration, upon request, furnish to each Holder of Registrable
Securities, without charge, at least one conformed copy of each Registration Statement and any post-effective amendment thereto (without any documents incorporated therein by reference or exhibits thereto, unless requested); 

(viii)    in the case of a Shelf Registration, cooperate with the Holders of Registrable Securities to
facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends and enable such Registrable Securities to be issued in such denominations and registered in such
names (consistent with the provisions of the Indenture) as such Holders may reasonably request at least two Business Days prior to the closing of any sale of Registrable Securities; 

  
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 (ix)    in the case of a Shelf Registration, upon the
occurrence of any event contemplated by Section 3(a)(v)(5) hereof, use their reasonable best efforts to prepare and file with the SEC a supplement or post-effective amendment to such Shelf Registration Statement or the
related Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter delivered (or, to the extent permitted by law, made available) to purchasers of the Registrable Securities, such
Prospectus will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and the Company and the
Guarantors shall notify the Holders of Registrable Securities to suspend use of the Prospectus as promptly as practicable after the occurrence of such an event, and such Holders hereby agree to suspend use of the Prospectus until the Company and the
Guarantors have amended or supplemented the Prospectus to correct such misstatement or omission; 

(x)    a reasonable time prior to the filing of any Registration Statement, any Prospectus, any amendment
to a Registration Statement or amendment or supplement to a Prospectus (other than documents that will be incorporated by reference therein), provide copies of such document to the Initial Purchasers and their counsel (and, in the case of a Shelf
Registration Statement, to the Holders of Registrable Securities and their counsel) and make such of the representatives of the Company and the Guarantors as shall be reasonably requested by the Initial Purchasers or their counsel (and, in the case
of a Shelf Registration Statement, the Holders of Registrable Securities or their counsel) available for discussion of such document; and the Company and the Guarantors shall not, at any time after initial filing of a Registration Statement, use or
file any Prospectus, any amendment of or supplement to a Registration Statement or a Prospectus (other than documents that will be incorporated by reference therein), of which the Initial Purchasers and their counsel (and, in the case of a Shelf
Registration Statement, the Holders of Registrable Securities and their counsel) shall not have previously been advised and furnished a copy or to which the Initial Purchasers or their counsel (and, in the case of a Shelf Registration Statement, the
Holders of Registrable Securities or their counsel) shall reasonably object; 
 (xi)    obtain a CUSIP
number for all Exchange Securities or Registrable Securities, as the case may be, not later than the initial effective date of a Registration Statement; 

(xii)    cause the Indenture to be qualified under the Trust Indenture Act in connection with the
registration of the Exchange Securities or Registrable Securities, as the case may be; cooperate with the Trustee and the Holders to effect such changes to the Indenture as may be required for the Indenture to be so qualified in accordance with the
terms of the Trust Indenture Act; and execute, and use their reasonable best efforts to cause the Trustee to execute, all documents as may be required to effect such changes and all other forms and documents required to be filed with the SEC to
enable the Indenture to be so qualified in a timely manner; 
 (xiii)    in the case of a Shelf
Registration, make available for inspection prior to the filing of the Shelf Registration Statement and during the Shelf Effectiveness 

  
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Period by a representative of the Holders of the Registrable Securities (an “Inspector”), any Underwriter participating in any disposition pursuant to such Shelf Registration
Statement, any attorneys and accountants designated by a majority of the Holders of Registrable Securities to be included in such Shelf Registration and any attorneys and accountants designated by such Underwriter, at reasonable times and in a
reasonable manner, all pertinent financial and other records, documents and properties of the Company and its subsidiaries, and cause the respective officers, directors and employees of the Company and the Guarantors to supply all information
reasonably requested by any such Inspector, Underwriter, attorney or accountant in connection with a Shelf Registration Statement; provided that if any such information is identified by the Company or any Guarantor as being confidential or
proprietary, each Person receiving such information shall take such actions as are reasonably necessary to protect the confidentiality of such information to the extent such action is otherwise not inconsistent with, an impairment of or in
derogation of the rights and interests of any Inspector, Holder or Underwriter; 
 (xiv)    in the case
of a Shelf Registration, use their commercially reasonable best efforts to cause all Registrable Securities to be listed on any securities exchange or any automated quotation system on which similar securities issued or guaranteed by the Company or
any Guarantor are then listed if requested by the Majority Holders, to the extent such Registrable Securities satisfy applicable listing requirements; 

(xv)    if reasonably requested by any Holder of Registrable Securities covered by a Shelf Registration
Statement, promptly include in a Prospectus supplement or post-effective amendment such information with respect to such Holder as such Holder reasonably requests to be included therein and make all required filings of such Prospectus supplement or
such post-effective amendment as soon as reasonably practicable after the Company has received notification of the matters to be so included in such filing; 

(xvi)    as may reasonably be required in the case of a Shelf Registration, enter into such customary
agreements and take all such other actions in connection therewith (including those requested by the Holders of a majority in principal amount of the Registrable Securities covered by the Shelf Registration Statement) in order to expedite or
facilitate the disposition of such Registrable Securities including, but not limited to, an Underwritten Offering and in such connection, (1) to the extent possible, make such representations and warranties to the Holders and any Underwriters
of such Registrable Securities with respect to the business of the Company and its subsidiaries and the Registration Statement, Prospectus and documents incorporated by reference or deemed incorporated by reference, if any, in each case, in form,
substance and scope as are customarily made by issuers to underwriters in underwritten offerings and confirm the same if and when requested, (2) obtain opinions of counsel to the Company and the Guarantors (which counsel and opinions, in form,
scope and substance similar to that provided in the Purchase Agreement, as modified for registered offering, shall be reasonably satisfactory to the Holders and such Underwriters and their respective counsel) addressed to each selling Holder and
Underwriter of Registrable Securities, covering the matters customarily covered in opinions requested in underwritten offerings, 

  
 12 

 
(3) obtain “comfort” letters from the independent certified public accountants of the Company and the Guarantors (and, if necessary, any other certified public accountant of any
subsidiary of the Company or any Guarantor, or of any business acquired by the Company or any Guarantor for which financial statements and financial data are or are required to be included in the Registration Statement) addressed to each selling
Holder (to the extent permitted by applicable professional standards) and Underwriter of Registrable Securities, such letters to be in customary form and covering matters of the type customarily covered in “comfort” letters in connection
with underwritten offerings, including but not limited to financial information contained in any preliminary prospectus or Prospectus and (4) deliver such documents and certificates as may be reasonably requested by the Holders of a majority in
principal amount of the Registrable Securities being sold or the Underwriters, and which are customarily delivered in underwritten offerings, to evidence the continued validity of the representations and warranties of the Company and the Guarantors
made pursuant to clause (1) above and to evidence compliance with any customary conditions contained in an underwriting agreement; and 

(xvii)    so long as any Registrable Securities remain outstanding, cause each Additional Guarantor upon
the creation or acquisition by the Company of such Additional Guarantor, to execute a counterpart to this Agreement in the form attached hereto as Annex A and to deliver such counterpart, together with an opinion of counsel as to the
enforceability thereof against such entity, to the Initial Purchasers no later than five Business Days following the execution thereof. 

(b)    In the case of a Shelf Registration Statement, the Company may require each Holder of Registrable Securities to
furnish to the Company such information regarding such Holder and the proposed disposition by such Holder of such Registrable Securities as the Company and the Guarantors may from time to time reasonably request in writing. 

(c)    In the case of a Shelf Registration Statement, each Holder of Registrable Securities covered in such Shelf
Registration Statement agrees that, upon receipt of any notice from the Company and the Guarantors of the happening of any event of the kind described in Section 3(a)(v)(3) or 3(a)(v)(5) hereof, such Holder will
forthwith discontinue disposition of Registrable Securities pursuant to the Shelf Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by
Section 3(a)(ix) hereof and, if so directed by the Company and the Guarantors, such Holder will deliver to the Company and the Guarantors all copies in its possession, other than permanent file copies then in such
Holder’s possession, of the Prospectus covering such Registrable Securities that is current at the time of receipt of such notice. 

(d)    If the Company and the Guarantors shall give any notice to suspend the disposition of Registrable Securities
pursuant to a Registration Statement, the Company and the Guarantors shall extend the period during which such Registration Statement shall be maintained effective pursuant to this Agreement by the number of days during the period from and including
the date of the giving of such notice to and including the date when the Holders of such Registrable Securities shall have received copies of the supplemented or amended Prospectus necessary to resume such dispositions. The Company and the
Guarantors may give any such notice only three times during any 365-day period and any such suspensions shall not exceed 30 days for each suspension and there shall not be more than two suspensions in effect
during any 365-day period. 

  
 13 

 (e)    The Holders of Registrable Securities covered by a Shelf
Registration Statement who desire to do so may sell such Registrable Securities in an Underwritten Offering. In any such Underwritten Offering, the investment bank or investment banks and manager or managers (each, an “Underwriter”)
that will administer the offering will be selected by the Holders of a majority in principal amount of the Registrable Securities included in such offering. 

SECTION 4.    Participation of Broker-Dealers in Exchange Offer. (a) The Staff has taken the position that any
broker-dealer that receives Exchange Securities for its own account in the Exchange Offer in exchange for Securities that were acquired by such broker-dealer as a result of market-making or other trading activities (a “Participating
Broker-Dealer”) may be deemed to be an “underwriter” within the meaning of the Securities Act and must deliver a prospectus meeting the requirements of the Securities Act in connection with any resale of such Exchange Securities.

 The Company and the Guarantors understand that it is the Staff’s position that if the Prospectus contained in the Exchange Offer
Registration Statement includes a plan of distribution containing a statement to the above effect and the means by which Participating Broker-Dealers may resell the Exchange Securities, without naming the Participating Broker-Dealers or specifying
the amount of Exchange Securities owned by them, such Prospectus may be delivered by Participating Broker-Dealers (or, to the extent permitted by law, made available to purchasers) to satisfy their prospectus delivery obligation under the Securities
Act in connection with resales of Exchange Securities for their own accounts, so long as the Prospectus otherwise meets the requirements of the Securities Act. 

(b)    In light of the above, and notwithstanding the other provisions of this Agreement, the Company and the Guarantors
agree to amend or supplement the Prospectus contained in the Exchange Offer Registration Statement for a period of up to 180 days after the last Exchange Date (as such period may be extended pursuant to Section 3(d) of this
Agreement), in order to expedite or facilitate the disposition of any Exchange Securities by Participating Broker-Dealers consistent with the positions of the Staff recited in Section 4(a) above. The Company and the
Guarantors further agree that Participating Broker-Dealers shall be authorized to deliver such Prospectus (or, to the extent permitted by law, make available) during such period (but not thereafter) in connection with the resales contemplated by
this Section 4. 
 (c)    The Initial Purchasers shall have no liability to the Company, any
Guarantor or any Holder with respect to any request that they may make pursuant to Section 4(b) above. 
 SECTION
5.    Indemnification and Contribution. (a) The Company and each Guarantor, jointly and severally, agree to indemnify and hold harmless each Initial Purchaser and each Holder, their respective affiliates, directors
and officers and each Person, if any, who controls any Initial Purchaser or any Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and
liabilities (including, without limitation, reasonable legal fees and other expenses incurred in 

  
 14 

 
connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several, that arise out of, or are based upon, (1) any untrue
statement or alleged untrue statement of a material fact contained in any Registration Statement or any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein
not misleading, or (2) any untrue statement or alleged untrue statement of a material fact contained in any Prospectus, any Free Writing Prospectus used in violation of this Agreement or any “issuer information” (“Issuer
Information”) filed or required to be filed pursuant to Rule 433(d) under the Securities Act, or any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in
reliance upon and in conformity with any information relating to any Initial Purchaser or information relating to any Holder furnished to the Company in writing through the Representatives or any selling Holder, respectively, expressly for use
therein. In connection with any Underwritten Offering permitted by Section 3, the Company and the Guarantors, jointly and severally, will also indemnify the Underwriters, if any, selling brokers, dealers and similar
securities industry professionals participating in the distribution, their respective affiliates and each Person who controls such Persons (within the meaning of the Securities Act and the Exchange Act) to the same extent as provided above with
respect to the indemnification of the Holders, if requested in connection with any Registration Statement, any Prospectus, any Free Writing Prospectus or any Issuer Information. 

(b)    Each Holder agrees, severally and not jointly, to indemnify and hold harmless the Company, the Guarantors, the
Initial Purchasers and the other selling Holders, the directors of the Company and the Guarantors, each officer of the Company and the Guarantors who signed the Registration Statement and each Person, if any, who controls the Company, the
Guarantors, any Initial Purchaser and any other selling Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in paragraph (a) above, but only
with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to such
Holder furnished to the Company in writing by such Holder expressly for use in any Registration Statement and any Prospectus. 

(c)    If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be
brought or asserted against any Person in respect of which indemnification may be sought pursuant to either paragraph (a) or (b) above, such Person (the “Indemnified Person”) shall promptly notify the Person against whom
such indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have under this
Section 5 except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided further that the failure to notify the
Indemnifying Person shall not relieve it from any liability that it may have to an Indemnified Person otherwise than under this Section 5. If any such proceeding shall be brought or asserted against an Indemnified Person
and it shall have notified the Indemnifying Person thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person to 

  
 15 

 
represent the Indemnified Person and any others entitled to indemnification pursuant to this Section 5 that the Indemnifying Person may designate in such proceeding and
shall pay the reasonable fees and expenses of such proceeding and shall pay the fees and expenses of such counsel related to such proceeding, as incurred. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel,
but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person has failed
within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person; or (iii) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person
and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood and agreed that the Indemnifying Person shall not, in connection with any proceeding or
related proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed as they are
incurred. Any such separate firm (x) for any Initial Purchaser, its affiliates, directors and officers and any control Persons of such Initial Purchaser shall be designated in writing by the Representatives, (y) for any Holder, its
directors and officers and any control Persons of such Holder shall be designated in writing by the Majority Holders and (z) in all other cases shall be designated in writing by the Company. The Indemnifying Person shall not be liable for any
settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying Person agrees to indemnify each Indemnified Person from and against any loss or
liability by reason of such settlement or judgment. No Indemnifying Person shall, without the written consent of the Indemnified Person (not to be unreasonably withheld), effect any settlement of any pending or threatened proceeding in respect of
which any Indemnified Person is or could have been a party and indemnification could have been sought hereunder by such Indemnified Person, unless such settlement (A) includes an unconditional release of such Indemnified Person, in form and
substance reasonably satisfactory to such Indemnified Person, from all liability on claims that are the subject matter of such proceeding and (B) does not include any statement as to or any admission of fault, culpability or a failure to act by
or on behalf of any Indemnified Person. 
 (d)    If the indemnification provided for in paragraphs (a) and
(b) above is unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph, in lieu of indemnifying such Indemnified
Person thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the
Company and the Guarantors from the offering of the Securities and the Exchange Securities, on the one hand, and by the Holders from receiving Securities or Exchange Securities registered under the Securities Act, on the other hand, or (ii) if
the allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) but also the relative fault of the Company and
the Guarantors on the one hand and the Holders on the other in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of
the Company and the Guarantors on the one hand and the Holders on the other shall be determined by reference to, among other things, whether the untrue or alleged 

  
 16 

 
untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company and the Guarantors or by the Holders and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

(e)    The Company, the Guarantors and the Holders agree that it would not be just and equitable if contribution pursuant
to this Section 5 were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations
referred to in paragraph (d) above. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed to include, subject to the
limitations set forth above, any legal or other expenses reasonably incurred by such Indemnified Person in connection with any such action or claim. Notwithstanding the provisions of this Section 5, in no event shall a
Holder be required to contribute any amount in excess of the amount by which the total price at which the Securities or the Exchange Securities sold by such Holder exceeds the amount of any damages that such Holder has otherwise been required to pay
by reason of such untrue or alleged untrue statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person
who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 5 are several and not joint. 

(f)    The remedies provided for in this Section 5 are not exclusive and shall not limit any
rights or remedies that may otherwise be available to any Indemnified Person at law or in equity. 
 (g)    The
indemnity and contribution provisions contained in this Section 5 shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on
behalf of the Initial Purchasers or any Holder or any Person controlling any Initial Purchaser or any Holder, or by or on behalf of the Company or the Guarantors or the officers or directors of or any Person controlling the Company or the
Guarantors, (iii) acceptance of any of the Exchange Securities and (iv) any sale of Registrable Securities pursuant to a Shelf Registration Statement. 

SECTION 6.    General. (a) No Inconsistent Agreements. The Company and the Guarantors represent, warrant and
agree that (i) the rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the rights granted to the holders of any other outstanding securities issued or guaranteed by the Company or any Guarantor
under any other agreement and (ii) neither the Company nor any Guarantor has entered into, or on or after the date of this Agreement will enter into, any agreement that is inconsistent with the rights granted to the Holders of Registrable
Securities in this Agreement or otherwise conflicts with the provisions hereof. 
 (b)    Amendments and
Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given unless the Company and
the Guarantors have obtained the written consent of Holders of at least a majority in aggregate 

  
 17 

 
principal amount of the outstanding Registrable Securities affected by such amendment, modification, supplement, waiver or consent; provided that no amendment, modification, supplement,
waiver or consent to any departure from the provisions of Section 5 hereof shall be effective as against any Holder of Registrable Securities unless consented to in writing by such Holder. Any amendments, modifications,
supplements, waivers or consents pursuant to this Section 6(b) shall be by a writing executed by each of the parties hereto. 

(c)    Notices. All notices and other communications provided for or permitted hereunder shall be made in writing
by hand-delivery, registered first-class mail, telex, telecopier, or any courier guaranteeing overnight delivery (i) if to a Holder, at the most current address given by such Holder to the Company by means of a notice given in accordance with
the provisions of this Section 6(c), which address initially is, with respect to the Initial Purchasers, the address set forth in the Purchase Agreement; (ii) if to the Company and the Guarantors, initially at the
Company’s address set forth in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this Section 6(c); and (iii) to such other persons at their
respective addresses as provided in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this Section 6(c). All such notices and communications shall be
deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when answered back, if telexed; when receipt is acknowledged, if telecopied;
and on the next Business Day if timely delivered to an air courier guaranteeing overnight delivery. Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee, at the
address specified in the Indenture. 
 (d)    Successors and Assigns. This Agreement shall inure to the
benefit of and be binding upon the successors, assigns and transferees of each of the parties, including, without limitation and without the need for an express assignment, subsequent Holders; provided that nothing herein shall be deemed to
permit any assignment, transfer or other disposition of Registrable Securities in violation of the terms of the Purchase Agreement or the Indenture. If any transferee of any Holder shall acquire Registrable Securities in any manner, whether by
operation of law or otherwise, such Registrable Securities shall be held subject to all the terms of this Agreement, and by taking and holding such Registrable Securities such Person shall be conclusively deemed to have agreed to be bound by and to
perform all of the terms and provisions of this Agreement and such Person shall be entitled to receive the benefits hereof. The Initial Purchasers (in their capacity as Initial Purchasers) shall have no liability or obligation to the Company or the
Guarantors with respect to any failure by a Holder to comply with, or any breach by any Holder of, any of the obligations of such Holder under this Agreement. 

(e)    Third Party Beneficiaries. Each Holder shall be a third party beneficiary to the agreements made hereunder
between the Company and the Guarantors, on the one hand, and the Initial Purchasers, on the other hand, and shall have the right to enforce such agreements directly to the extent it deems such enforcement necessary or advisable to protect its rights
or the rights of other Holders hereunder. 
 (f)    Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

  
 18 

 (g)    Headings. The headings in this Agreement are for
convenience of reference only, are not a part of this Agreement and shall not limit or otherwise affect the meaning hereof. 

(h)    Governing Law. This Agreement, and any claim, controversy or dispute arising under or related to this
Agreement, shall be governed by and construed in accordance with the laws of the State of New York without regard to conflict of law principles that would result in the application of any laws other than the laws of the State of New York. 

(i)    Entire Agreement; Severability. This Agreement contains the entire agreement between the parties relating to
the subject matter hereof and supersedes all oral statements and prior writings with respect thereto. If any term, provision, covenant or restriction contained in this Agreement is held by a court of competent jurisdiction to be invalid, void or
unenforceable or against public policy, the remainder of the terms, provisions, covenants and restrictions contained herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated. The Company, the Guarantors
and the Initial Purchasers shall endeavor in good faith negotiations to replace the invalid, void or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, void or unenforceable
provisions. 
 [Remainder of page intentionally left blank.] 

  
 19 

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

							
	 EXPEDIA GROUP, INC.,
 as
Issuer

			
		 	By:	 	 /s/ Alan R. Pickerill

	   	 		 	Name:	 	Alan R. Pickerill
		 		 	Title:	 	Executive Vice President, Chief Financial Officer and Treasurer

  
 [Signature Page to
Registration Rights Agreement] 

 
							
	 CARRENTALS.COM, INC.,
 CRUISE,
LLC,
 EAN.COM, LP,
 EXPEDIA GROUP COMMERCE, INC.,

EXPEDIA LX PARTNER BUSINESS, INC.,
 EXPEDIA, INC.,

HIGHER POWER NUTRITION COMMON HOLDINGS, LLC,
 HOTELS.COM,
L.P.,
 INTERACTIVE AFFILIATE NETWORK, LLC,
 LIBERTY PROTEIN,
INC.,
 NEAT GROUP CORPORATION,
 O HOLDINGS INC.,

ORBITZ FINANCIAL CORP.,
 ORBITZ TRAVEL INSURANCE SERVICES,
LLC,
 ORBITZ WORLDWIDE, INC.,
 ORBITZ WORLDWIDE, LLC,

ORBITZ, INC.,
 ORBITZ, LLC,

OWW FULFILLMENT SERVICES, INC.,
 TRAVELSCAPE, LLC,

TRIP NETWORK, INC.,
 VRBO HOLDINGS, INC.,

WWTE, INC.,
 as Subsidiary Guarantors

			
	   	 	By:	 	 /s/ Alan R. Pickerill

		 		 	Name:	 	Alan R. Pickerill
		 		 	Title:	 	Executive Vice President, Chief Financial Officer and Treasurer

  
 [Signature Page to
Registration Rights Agreement] 

 
							
	 BEDANDBREAKFAST.COM, INC.,
 EGENCIA
LLC,
 HOMEAWAY SOFTWARE, INC.,
 HOMEAWAY.COM, INC.,

HOTWIRE, INC.,
 ORBITZ FOR BUSINESS, INC.,

as Subsidiary Guarantors

			
	   	 	By:	 	 /s/ Alan R. Pickerill

		 		 	Name:	 	Alan R. Pickerill
		 		 	Title:	 	Executive Vice President and Treasurer

  
 [Signature Page to
Registration Rights Agreement] 

 
							
	 HOTELS.COM GP, LLC,
 as Subsidiary
Guarantor

			
	   	 	By:	 	 /s/ Alan R. Pickerill

		 		 	Name:	 	Alan R. Pickerill
		 		 	Title:	 	Manager

  
 [Signature Page to
Registration Rights Agreement] 

 
							
	 HRN 99 HOLDINGS, LLC,

as Subsidiary Guarantor

			
	   	 	By:	 	 /s/ Alan R. Pickerill

		 		 	Name:	 	Alan R. Pickerill
		 		 	Title:	 	Manager

  
 [Signature Page to
Registration Rights Agreement] 

 
							
	 LEMS I LLC,

as Subsidiary Guarantor

			
	   	 	By:	 	 /s/ Alan R. Pickerill

		 		 	Name:	 	Alan R. Pickerill
		 		 	Title:	 	Executive Vice President, CFO and Treasurer

  
 [Signature Page to
Registration Rights Agreement] 

 
					
	 LEMS I LLC, a Delaware limited liability company, on behalf of LEXEB, LLC,

as Subsidiary Guarantor

		
	 By:
	 	 /s/ Alan R. Pickerill

		 	Name:	 	Alan R. Pickerill
		 	Title:	 	Executive Vice President, CFO and Treasurer
	
	 LEMS I LLC, a Delaware limited liability company, on behalf of LEXE MARGINCO, LLC,

as Subsidiary Guarantor

		
	 By:
	 	 /s/ Alan R. Pickerill

		 	Name:	 	Alan R. Pickerill
		 	Title:	 	Executive Vice President, CFO and Treasurer

  
 [Signature Page to
Registration Rights Agreement] 

 
					
	 VITALIZE, LLC,
 as Subsidiary
Guarantor

		
	 By:
	 	 /s/ Alan R. Pickerill

		 	Name:	  	Alan R. Pickerill
		 	Title:	  	Authorized Person

  
 [Signature Page to
Registration Rights Agreement] 

					
	Accepted: September 19, 2019
	
	BOFA SECURITIES, INC.
		
	By:	 	 /s/ Laurie Campbell

		 	Name:	 	Laurie Campbell
	    	 	Title:	 	Managing Director
	
	J.P. MORGAN SECURITIES LLC
		
	By:	 	 /s/ Robert Bottamedi

		 	Name:	 	Robert Bottamedi
		 	Title:	 	Executive Director
	
	GOLDMAN SACHS & CO. LLC
		
	By:	 	 /s/ Adam Greene

		 	Name:	 	Adam Greene
		 	Title:	 	Managing Director

 For themselves and on behalf of the 

several Initial Purchasers listed 
 in Schedule 1 to the Purchase
Agreement. 

  
 [Signature Page to
Registration Rights Agreement] 

 Schedule 1 
  

			
	 Name of Guarantor
	  	 Jurisdiction

	BedandBreakfast.com, Inc.	  	Colorado
	CarRentals.com, Inc.	  	Nevada
	Cruise, LLC	  	Washington
	EAN.com, LP	  	Delaware
	Egencia LLC	  	Nevada
	Expedia Group Commerce, Inc.	  	Delaware
	Expedia, Inc.	  	Washington
	Expedia LX Partner Business, Inc.	  	Delaware
	Higher Power Nutrition Common Holdings, LLC	  	Delaware
	HomeAway Software, Inc.	  	Delaware
	HomeAway.com, Inc.	  	Delaware
	Hotels.com GP, LLC	  	Texas
	Hotels.com, L.P.	  	Texas
	Hotwire, Inc.	  	Delaware
	HRN 99 Holdings, LLC	  	New York
	Interactive Affiliate Network, LLC	  	Delaware
	LEMS I LLC	  	Delaware
	LEXE Marginco, LLC	  	Delaware
	LEXEB, LLC	  	Delaware
	Liberty Protein, Inc.	  	Delaware
	Neat Group Corporation	  	Delaware
	O Holdings Inc.	  	Delaware
	Orbitz Financial Corp.	  	Delaware
	Orbitz For Business, Inc.	  	Delaware
	Orbitz, Inc.	  	Delaware
	Orbitz, LLC	  	Delaware
	Orbitz Travel Insurance Services, LLC	  	Delaware
	Orbitz Worldwide, Inc.	  	Delaware
	Orbitz Worldwide, LLC	  	Delaware
	OWW Fulfillment Services, Inc.	  	Tennessee
	Travelscape, LLC	  	Nevada
	Trip Network, Inc.	  	Delaware
	Vitalize, LLC	  	Delaware
	VRBO Holdings, Inc. (f/k/a HomeAway Holdings, Inc.)	  	Delaware
	WWTE, Inc.	  	Nevada

 Annex A 

Counterpart to Registration Rights Agreement 

The undersigned hereby absolutely, unconditionally and irrevocably agrees as a Guarantor (as defined in the Registration Rights Agreement,
dated as of September 19, 2019, by and among Expedia Group, Inc., a Delaware corporation, the subsidiary guarantors party thereto, BofA Securities, Inc., J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC), to be bound by the terms and
provisions of such Registration Rights Agreement. 
 IN WITNESS WHEREOF, the undersigned has executed this counterpart as of
                    . 
  

			
	[NAME OF SUBSIDIARY GUARANTOR]
		
	By:	 	
                     
                                        

		 	Name:
		 	Title:Exhibit 4.1

 

 

PTC THERAPEUTICS, INC.

AND

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

INDENTURE

Dated as of September 20, 2019

 

 

 

 

 

1.50% Convertible Senior Notes due 2026

 

 

    

     

    

 

TABLE OF CONTENTS

 

 

Page

	Article 1

                                                                                Definitions

	Section 1.01.  Definitions	5
	Section 1.02.  References to Interest	16
	Article 2

                                                                                Issue, Description, Execution, Registration and Exchange of Notes

	Section 2.01.  Designation and Amount	16
	Section 2.02.  Form of Notes	16
	Section 2.03.  Date and Denomination of Notes; Payments of Interest and Defaulted Amounts	17
	Section 2.04.  Execution, Authentication and Delivery of Notes	18
	Section 2.05.  Exchange and Registration of Transfer of Notes; Restrictions on Transfer; Depositary	19
	Section 2.06.  Mutilated, Destroyed, Lost or Stolen Notes	25
	Section 2.07.  Temporary Notes	26
	Section 2.08.  Cancellation of Notes Paid, Converted, Etc.	27
	Section 2.09.  CUSIP Numbers	27
	Section 2.10.  Additional Notes; Repurchases	27
	Article 3

                                                                                Satisfaction and Discharge

	Section 3.01.  Satisfaction and Discharge	27
	Article 4

                                                                                Particular Covenants of the Company

	Section 4.01.  Payment of Principal and Interest	28
	Section 4.02.  Maintenance of Office or Agency	29
	Section 4.03.  Appointments to Fill Vacancies in Trustee’s Office	29
	Section 4.04.  Provisions as to Paying Agent	29
	Section 4.05.  Existence	30
	Section 4.06.  Rule 144A Information Requirement and Annual Reports	30
	Section 4.07.  Stay, Extension and Usury Laws	32
	Section 4.08.  Compliance Certificate; Statements as to Defaults	32
	Section 4.09.  Further Instruments and Acts	32

 

    

     

    

 

	Article 5

                                                                                Lists of Holders and Reports by the Company and the Trustee

	Section 5.01.  Lists of Holders	33
	Section 5.02.  Preservation and Disclosure of Lists	33
	Article 6

                                                                                Defaults and Remedies

	Section 6.01.  Events of Default	33
	Section 6.02.  Acceleration; Rescission and Annulment	34
	Section 6.03.  Additional Interest	35
	Section 6.04.  Payments of Notes on Default; Suit Therefor	36
	Section 6.05.  Application of Monies Collected by Trustee	38
	Section 6.06.  Proceedings by Holders	39
	Section 6.07.  Proceedings by Trustee	40
	Section 6.08.  Remedies Cumulative and Continuing	40
	Section 6.09.  Direction of Proceedings and Waiver of Defaults by Majority of Holders	40
	Section 6.10.  Notice of Defaults	40
	Section 6.11.  Undertaking to Pay Costs	41
	Article 7

                                                                                Concerning the Trustee

	Section 7.01.  Duties and Responsibilities of Trustee	41
	Section 7.02.  Reliance on Documents, Opinions, Etc.	43
	Section 7.03.  No Responsibility for Recitals, Etc.	44
	Section 7.04.  No Obligation to Monitor	44
	Section 7.05.  Trustee, Paying Agents, Conversion Agents, Bid Solicitation Agent or Note Registrar May Own Notes	44
	Section 7.06.  Monies and Shares of Common Stock to Be Held in Trust	44
	Section 7.07.  Compensation and Expenses of Trustee	45
	Section 7.08.  Officer’s Certificate as Evidence	46
	Section 7.09.  Eligibility of Trustee	46
	Section 7.10.  Resignation or Removal of Trustee	46
	Section 7.11.  Acceptance by Successor Trustee	47
	Section 7.12.  Succession by Merger, Etc.	48
	Section 7.13.  Trustee’s Application for Instructions from the Company	48
	Article 8

                                                                                Concerning the Holders

	Section 8.01.  Action by Holders	48
	Section 8.02.  Proof of Execution by Holders	49
	Section 8.03.  Who Are Deemed Absolute Owners	49
	Section 8.04.  Company-Owned Notes Disregarded	49
	Section 8.05.  Revocation of Consents; Future Holders Bound	50

 

    2

     

    

 

	Article 9

                                                                                Holders’ Meetings

	Section 9.01.  Purpose of Meetings	50
	Section 9.02.  Call of Meetings by Trustee	51
	Section 9.03.  Call of Meetings by Company or Holders	51
	Section 9.04.  Qualifications for Voting	51
	Section 9.05.  Regulations	51
	Section 9.06.  Voting	52
	Section 9.07.  No Delay of Rights by Meeting	52
	Article 10

                                                                                Supplemental Indentures

	Section 10.01.  Supplemental Indentures Without Consent of Holders	52
	Section 10.02.  Supplemental Indentures with Consent of Holders	53
	Section 10.03.  Effect of Supplemental Indentures	54
	Section 10.04.  Notation on Notes	55
	Section 10.05.  Evidence of Compliance of Supplemental Indenture to Be Furnished Trustee	55
	Article 11

                                                                                Consolidation, Merger, Sale, Conveyance and Lease

	Section 11.01.  Company May Consolidate, Etc. on Certain Terms	55
	Section 11.02.  Successor Corporation to Be Substituted	56
	Section 11.03.  Opinion of Counsel to Be Given to Trustee	56
	Article 12

                                                                                Immunity of Incorporators, Stockholders, Officers and Directors

	Section 12.01.  Indenture and Notes Solely Corporate Obligations	56
	Article 13

                                                                                [Intentionally Omitted]

	Article 14

                                                                                Conversion of Notes

	Section 14.01.  Conversion Privilege	57
	Section 14.02.  Conversion Procedure; Settlement Upon Conversion	60
	Section 14.03.  Increased Conversion Rate Applicable to Certain Notes Surrendered in Connection with Make-Whole Fundamental
Changes or Redemption Notice	64
	Section 14.04.  Adjustment of Conversion Rate	66
	Section 14.05. Adjustments of Prices	75
	Section 14.06.  Shares to Be Fully Paid	75
	Section 14.07.  Effect of Recapitalizations, Reclassifications and Changes of the Common Stock	76
	Section 14.08.  Certain Covenants	77
	Section 14.09.  Responsibility of Trustee	78
	Section 14.10.  Notice to Holders Prior to Certain Actions	78
	Section 14.11.  Stockholder Rights Plans	79
	Section 14.12.  Withholding Taxes for Adjustments in Conversion Rate	79

 

    3

     

    

 

	Article 15

                                                                                Repurchase of Notes at Option of Holders

	Section 15.01.  [Intentionally Omitted]	79
	Section 15.02.  Repurchase at Option of Holders Upon a Fundamental Change	80
	Section 15.03.  Withdrawal of Fundamental Change Repurchase Notice	82
	Section 15.04.  Deposit of Fundamental Change Repurchase Price	83
	Section 15.05.  Covenant to Comply with Applicable Laws Upon Repurchase of Notes	83
	Article 16

                                                                                Optional Redemption

	Section 16.01.  Optional Redemption	84
	Section 16.02.  Notice of Optional Redemption; Selection of Notes	84
	Section 16.03.  Payment of Notes Called for Redemption	85
	Section 16.04.  Restrictions on Redemption	86
	Article 17

                                                                                Miscellaneous Provisions

	Section 17.01.  Provisions Binding on Company’s Successors	86
	Section 17.02.  Official Acts by Successor Corporation	86
	Section 17.03.  Addresses for Notices, Etc.	86
	Section 17.04.  Governing Law; Jurisdiction	87
	Section 17.05.  Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee	87
	Section 17.06.  Statements Required in Certificate or Opinion.	88
	Section 17.07.  Legal Holidays	88
	Section 17.08.  No Security Interest Created	88
	Section 17.09.  Benefits of Indenture	89
	Section 17.10.  Table of Contents, Headings, Etc.	89
	Section 17.11.  Authenticating Agent	89
	Section 17.12.  Execution in Counterparts; PDF Transmission	90
	Section 17.13.  Severability	90
	Section 17.14.  Waiver of Jury Trial	90
	Section 17.15.  Force Majeure	90
	Section 17.16.  Calculations	90
	Section 17.17.  USA Patriot Act	91

 

 

EXHIBIT

 

	Exhibit A         Form of Note	A-1

 

    4

     

    

 

INDENTURE dated as of September 20, 2019
between PTC THERAPEUTICS, INC., a Delaware corporation, as issuer (the “Company”, as more fully set forth in
‎Section 1.01) and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (the “Trustee”,
as more fully set forth in ‎Section 1.01).

 

W I T N E S S E T H:

 

WHEREAS, for its lawful corporate purposes,
the Company has duly authorized the issuance of its 1.50% Convertible Senior Notes due 2026 (the “Notes”), initially
in an aggregate principal amount not to exceed $287,500,000, and in order to provide the terms and conditions upon which the Notes
are to be authenticated, issued and delivered, the Company has duly authorized the execution and delivery of this Indenture; and

 

WHEREAS, the Form of Note, the certificate
of authentication to be borne by each Note, the Form of Notice of Conversion, the Form of Fundamental Change Repurchase Notice
and the Form of Assignment and Transfer to be borne by the Notes are to be substantially in the forms hereinafter provided; and

 

WHEREAS, all acts and things necessary to
make the Notes, when executed by the Company and authenticated and delivered by the Trustee or a duly authorized authenticating
agent, as in this Indenture provided, the valid, binding and legal obligations of the Company, and this Indenture a valid agreement
according to its terms, have been done and performed, and the execution of this Indenture and the issuance hereunder of the Notes
have in all respects been duly authorized.

 

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

 

That in order to declare the terms and conditions
upon which the Notes are, and are to be, authenticated, issued and delivered, and in consideration of the premises and of the purchase
and acceptance of the Notes by the Holders thereof, the Company covenants and agrees with the Trustee for the benefit of each other
and the equal and proportionate benefit of the respective Holders from time to time of the Notes (except as otherwise provided
below), as follows:

 

Article
1

Definitions

 

Section 1.01. Definitions. The terms
defined in this ‎Section 1.01 (except as herein otherwise expressly provided or unless the context otherwise requires) for
all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this ‎Section
1.01. The words “herein,” “hereof,” “hereunder,” and words of similar import refer to this
Indenture as a whole and not to any particular Article, Section or other subdivision. The terms defined in this Article include
the plural as well as the singular.

 

“Additional Interest”
means all amounts, if any, payable pursuant to ‎Section 4.06(d), ‎Section 4.06(e) and ‎Section 6.03, as applicable.

 

    5

     

    

 

“Additional Shares” shall
have the meaning specified in ‎Section 14.03(a).

 

“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.

 

“Bid Solicitation Agent”
means the Company or the Person appointed by the Company to solicit bids for the Trading Price of the Notes in accordance with
‎Section 14.01(b)(i). The Trustee shall initially act as the Bid Solicitation Agent. The Company may appoint another Person,
including itself, to act as Bid Solicitation Agent at any time without prior notice to Holders.

 

“Board of Directors”
means the board of directors of the Company or a committee of such board duly authorized to act for it hereunder.

 

“Board Resolution” means
a copy of a resolution 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.

 

“Business Day” means,
with respect to any Note, any day other than a Saturday, a Sunday or a day on which the Federal Reserve Bank of New York is authorized
or required by law, regulation or executive order to close or be closed.

 

“Capital Stock” means,
for any entity, any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of or
interests in (however designated) stock issued by that entity.

 

“Cash Settlement” shall
have the meaning specified in ‎Section 14.02(a).

 

“Clause A Distribution”
shall have the meaning specified in ‎Section 14.04(c).

 

“Clause B Distribution”
shall have the meaning specified in ‎Section 14.04(c).

 

“Clause C Distribution”
shall have the meaning specified in ‎Section 14.04(c).

 

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

 

“Combination Settlement”
shall have the meaning specified in ‎Section 14.02(a).

 

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

 

“Common Equity” of any
Person means 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.

 

    6

     

    

 

“Common Stock” means
the common stock of the Company, par value $0.001 per share, at the date of this Indenture, subject to ‎Section 14.07.

 

“Company” shall have
the meaning specified in the first paragraph of this Indenture, and subject to the provisions of ‎Article 11, shall include
its successors and assigns.

 

“Company Order” means
a written order of the Company, signed by (a) the Company’s Chief Executive Officer, President, Executive or Senior Vice
President or any Vice President (whether or not designated by a number or numbers or word or words added before or after the title
“Vice President”) and (b) any such other Officer designated in clause (a) of this definition or the Company’s
Treasurer or Assistant Treasurer or Secretary or any Assistant Secretary, and delivered to the Trustee.

 

“Conversion Agent” shall
have the meaning specified in ‎Section 4.02.

 

“Conversion Date” shall
have the meaning specified in ‎Section 14.02(e).

 

“Conversion Obligation”
shall have the meaning specified in ‎Section 14.01(a).

 

“Conversion Price” means
as of any date, $1,000, divided by the Conversion Rate as of such date.

 

“Conversion Rate” shall
have the meaning specified in ‎Section 14.01(a).

 

“Corporate Trust Office”
means the principal office of the Trustee at which at any time its corporate trust business shall be administered for purposes
of this Indenture, which office at the date hereof is located at U.S. Bank National Association, Global Corporate Trust Services,
225 Asylum Street, 23rd Floor, Hartford, Connecticut 06103, Attention: A. Pelletier (PTC Therapeutics, Inc.), or such
other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the principal corporate
trust office of any successor trustee (or such other address as such successor trustee may designate from time to time by notice
to the Holders and the Company).

 

“Custodian” means the
Trustee, as custodian for The Depository Trust Company, with respect to the Global Notes, or any successor entity thereto.

 

“Daily Conversion Value”
means, for each of the 30 consecutive Trading Days during the Observation Period, one-thirtieth of the product of (a) the Conversion
Rate on such Trading Day and (b) the Daily VWAP for such Trading Day.

 

“Daily Measurement Value”
means the Specified Dollar Amount, if any, divided by 30.

 

“Daily Settlement Amount,”
for each of the 30 consecutive Trading Days during the Observation Period, shall consist of:

 

    7

     

    

 

(a)       cash
in an amount equal to the lesser of (i) the Daily Measurement Value and (ii) the Daily Conversion Value on such Trading Day; and

 

(b)       if
the Daily Conversion Value on such 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 Trading Day.

 

“Daily VWAP” means, for
each of the 30 consecutive Trading Days during the applicable Observation Period, the per share volume-weighted average price as
displayed under the heading “Bloomberg VWAP” on Bloomberg page “PTCT <equity> AQR” (or its equivalent
successor if such page is 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 Trading Day (or if such volume-weighted average price is unavailable, the market
value of one share of the Common Stock on such Trading Day determined, using a volume-weighted average method, by a nationally
recognized independent investment banking firm retained for this purpose by the Company). The “Daily VWAP” shall
be determined without regard to after-hours trading or any other trading outside of the regular trading session trading hours.

 

“Default” means any event
that is, or after notice or passage of time, or both, would be, an Event of Default.

 

“Defaulted Amounts” means
any amounts on any Note (including, without limitation, the Redemption Price, the Fundamental Change Repurchase Price, principal
and interest) that are payable but are not punctually paid or duly provided for.

 

“Definitive Agreement”
means any agreement that provides for obligations that are material to and enforceable against the Company, or rights that are
material to the Company and enforceable by the Company against one or more other parties to the agreement, in each case, (x) whether
or not subject to conditions and (y) that would be required to be publicly disclosed on Form 8-K (or otherwise under the Exchange
Act), under the rules of any exchange on which securities of the Company are then listed or otherwise.

 

“Depositary” means, with
respect to each Global Note, the Person specified in ‎Section 2.05(c) as the Depositary with respect to such Notes, until a
successor shall have been appointed and become such pursuant to the applicable provisions of this Indenture, and thereafter, “Depositary”
shall mean or include such successor.

 

“Distributed Property”
shall have the meaning specified in ‎Section 14.04(c).

 

“Effective Date” shall
have the meaning specified in ‎Section 14.03(c).

 

“Event of Default” shall
have the meaning specified in ‎Section 6.01.

 

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

 

    8

     

    

 

“Exchange Act” means
the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Final Settlement Method Election
Date” shall mean the 40th Scheduled Trading Day immediately preceding the Maturity Date.

 

“Form of Assignment and Transfer”
shall mean the “Form of Assignment and Transfer” attached as Attachment 3 to the Form of Note.

 

“Form of Fundamental Change Repurchase
Notice” shall mean the “Form of Fundamental Change Repurchase Notice” attached as Attachment 2 to the Form
of Note attached hereto as Exhibit A.

 

“Form of Note” shall
mean the “Form of Note” attached hereto as Exhibit A.

 

“Form of Notice of Conversion”
shall mean the “Form of Notice of Conversion” attached as Attachment 1 to the Form of Note.

 

“Fundamental Change”
shall be deemed to have occurred at the time, if any, after the Notes are originally issued that any of the following occurs:

 

(a)       except
as described in clause (b) below, a “person” or “group” within the meaning of Section 13(d) of the Exchange
Act, other than the Company, its wholly-owned Subsidiaries and the employee benefit plans of the Company and its Subsidiaries,
files a Schedule 13D or Schedule TO (or any successor schedule, form or report) pursuant to the Exchange Act, disclosing that such
person or group has become the direct or indirect “beneficial owner,” as defined in Rule 13d-3 under the Exchange Act,
of the Company’s Common Equity representing more than 50% of the voting power of the Company’s Common Equity;

 

(b)       the
consummation of (A) any recapitalization, reclassification or change of the Common Stock (other than changes resulting from a subdivision
or combination) as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities, other
property or assets; (B) any share exchange, consolidation or merger of the Company pursuant to which the Common Stock will be converted
into cash, securities or other property; or (C) any sale, lease or other transfer in one transaction or a series of transactions
of all or substantially all of the consolidated assets of the Company and its Subsidiaries, taken as a whole, to any Person other
than one of the Company’s Subsidiaries; provided, however, that neither (i) a transaction of the type described
in clause (B) in which the holders of all classes of the Company’s Common Equity immediately prior to such transaction own,
directly or indirectly, more than 50% of all classes of Common Equity of the continuing or surviving corporation or transferee
or the parent thereof immediately after such transaction in substantially the same proportions as such ownership immediately prior
to such transaction nor (ii) any merger or consolidation of the Company solely for the purpose of changing its jurisdiction of
incorporation that results in a reclassification, conversion or exchange of outstanding shares of Common Stock solely into shares
of common stock of the surviving entity shall be a Fundamental Change pursuant to this clause (b);

 

    9

     

    

 

(c)       the
stockholders of the Company approve any plan or proposal for the liquidation or dissolution of the Company; or

 

(d)       the
Common Stock (or other common stock underlying the Notes) ceases to be listed or quoted on any of The New York Stock Exchange,
The Nasdaq Global Select Market or The Nasdaq Global Market (or any of their respective successors);

 

provided, however, that a transaction or transactions
described in clause (b) above shall not constitute a Fundamental Change if at least 90% of the consideration received or to be
received by the common stockholders of the Company, excluding cash payments for fractional shares and cash payments made in respect
of dissenters’ appraisal rights, in connection with such transaction or transactions consists of shares of common stock that
are listed or quoted on any of The New York Stock Exchange, The Nasdaq Global Select Market or The Nasdaq Global Market (or any
of their respective successors) or will be so listed or quoted when issued or exchanged in connection with such transaction or
transactions and as a result of such transaction or transactions the Notes become convertible into such consideration, excluding
cash payments for fractional shares and cash payments made in respect of dissenters’ appraisal rights (subject to the provisions
of ‎Section 14.02(a)).

 

“Fundamental Change Company Notice”
shall have the meaning specified in ‎Section 15.02(c).

 

“Fundamental Change Repurchase
Date” shall have the meaning specified in ‎Section 15.02(a).

 

“Fundamental Change Repurchase
Notice” shall have the meaning specified in ‎Section 15.02(b)(i).

 

“Fundamental Change Repurchase
Price” shall have the meaning specified in ‎Section 15.02(a).

 

“Global Note” shall have
the meaning specified in ‎Section 2.05(b).

 

“Holder,” as applied
to any Note, or other similar terms (but excluding the term “beneficial holder”), shall mean any Person in whose name
at the time a particular Note is registered on the Note Register.

 

“Indenture” means this
instrument as originally executed or, if amended or supplemented as herein provided, as so amended or supplemented.

 

“Interest Payment Date”
means each March 15 and September 15 of each year, beginning on March 15, 2020.

 

    10

     

    

 

“Last Reported 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 bid and ask prices or, if more than one in either case, the average of the average bid and the average ask prices) on that
date as reported in composite transactions for the principal U.S. national or regional securities exchange on which the Common
Stock is traded. If the Common Stock is not listed for trading on a U.S. national or regional securities exchange on the relevant
date, the “Last Reported Sale Price” shall be the last quoted bid price for the Common Stock in the over-the-counter
market on the relevant date as reported by OTC Markets Group Inc. or a similar organization. If the Common Stock is not so quoted,
the “Last Reported Sale Price” shall be the average of the mid-point of the last bid and ask prices for the
Common Stock on the relevant date obtained by the Company from each of at least three nationally recognized independent investment
banking firms selected by the Company for this purpose.

 

“Make-Whole Fundamental Change”
means any transaction or event that constitutes a Fundamental Change (as defined above and determined after giving effect to any
exceptions to or exclusions from such definition, but without regard to subclause (i) of the proviso in clause (b) of the
definition thereof).

 

“Market Disruption Event”
means (a) a failure by the primary U.S. national or regional securities exchange or market on which the Common Stock is listed
or admitted for trading to open for trading during its regular trading session or (b) the occurrence or existence prior to 1:00
p.m., New York City time, on any Scheduled Trading Day for the Common Stock for more than 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.

 

“Maturity Date” means
September 15, 2026.

 

“Measurement Period”
shall have the meaning specified in ‎Section 14.01(b)(i).

 

“Note” or “Notes”
shall have the meaning specified in the first paragraph of the recitals of this Indenture.

 

“Note Register” shall
have the meaning specified in ‎Section 2.05(a).

 

“Note Registrar” shall
have the meaning specified in ‎Section 2.05(a).

 

“Notice of Conversion”
shall have the meaning specified in ‎Section 14.02(b).

 

“Observation Period”
with respect to any Note surrendered for conversion means: (i) subject to clause (ii) below, if the relevant Conversion Date occurs
prior to the Final Settlement Method Election Date, the 30 consecutive Trading Day period beginning on, and including, the second
Trading Day after such Conversion Date, (ii) if the relevant Conversion Date occurs on or after the date the Company issues a Redemption
Notice and prior to the relevant Redemption Date, the 30 consecutive Trading Days beginning on, and including, the 31st Scheduled
Trading Day immediately preceding such Redemption Date and (iii) subject to clause (ii) above, if the relevant Conversion Date
occurs on or after the Final Settlement Method Election Date, the 30 consecutive Trading Days beginning on, and including, the
31st Scheduled Trading Day immediately preceding the Maturity Date.

 

    11

     

    

 

“Offering Memorandum”
means the preliminary offering memorandum dated September 17, 2019, as supplemented by the pricing term sheet dated September 18,
2019, relating to the offering and sale of the Notes.

 

“Officer” means, with
respect to the Company, the President, the Chief Executive Officer, the Treasurer, the Secretary, any Executive or Senior Vice
President or any Vice President (whether or not designated by a number or numbers or word or words added before or after the title
“Vice President”).

 

“Officer’s Certificate,”
when used with respect to the Company, means a certificate that is delivered to the Trustee and that is signed by an Officer of
the Company. Each such certificate shall include the statements provided for in ‎Section 17.05 and
‎Section 17.06 if and to the extent required by the
provisions of such Sections. The Officer giving an Officer’s Certificate pursuant to ‎Section 4.08 shall be the principal
executive, financial or accounting officer of the Company.

 

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

 

“Opinion of Counsel”
means an opinion in writing signed by legal counsel, who may be an employee of or counsel to the Company, or other counsel who
is acceptable to the Trustee, that is delivered to the Trustee, which opinion may contain customary exceptions and qualifications
as to the matters set forth therein and which legal counsel may, in providing such opinion, rely upon certifications or other representations
as to matters of fact. Each such opinion shall include the statements provided for in ‎Section 17.05 and
‎Section 17.06 if and to the extent required by the
provisions of such ‎Section 17.05 and ‎Section
17.06.

 

“Optional Redemption”
shall have the meaning specified in Section 16.01.

 

“outstanding,” when used
with reference to Notes, shall, subject to the provisions of ‎Section 8.04, mean, as of any particular time, all Notes authenticated
and delivered by the Trustee under this Indenture, except:

 

(a)       Notes
theretofore canceled by the Trustee or accepted by the Trustee for cancellation;

 

(b)       Notes,
or portions thereof, that have become due and payable 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);

 

(c)       Notes
that have been paid pursuant to ‎Section 2.06 or Notes in lieu of which, or in substitution for which, other Notes shall have
been authenticated and delivered pursuant to the terms of ‎Section 2.06 unless proof satisfactory to the Trustee is presented
that any such Notes are held by protected purchasers in due course;

 

    12

     

    

 

(d)       Notes
converted pursuant to ‎Article 14 and required to be cancelled pursuant
to ‎Section 2.08; and

 

(e)       Notes
repurchased by the Company pursuant to the penultimate sentence of ‎Section 2.10.

 

“Paying Agent” shall
have the meaning specified in ‎Section 4.02.

 

“Person” means an individual,
a corporation, a limited liability company, an association, a partnership, a joint venture, a joint stock company, a trust, an
unincorporated organization or a government or an agency or a political subdivision thereof.

 

“Physical Notes” means
permanent certificated Notes in registered form issued in denominations of $1,000 principal amount and integral multiples in excess
thereof.

 

“Physical Settlement”
shall have the meaning specified in ‎Section 14.02(a).

 

“Predecessor Note” of
any particular Note means every previous Note evidencing all or a portion of the same debt as that evidenced by such particular
Note; and, for the purposes of this definition, any Note authenticated and delivered under ‎Section 2.06 in lieu of or in exchange
for a mutilated, lost, destroyed or stolen Note shall be deemed to evidence the same debt as the mutilated, lost, destroyed or
stolen Note that it replaces.

 

“Record Date” means,
with respect to any dividend, distribution or other transaction or event in which the holders of 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 or a duly authorized committee thereof, statute, contract or otherwise).

 

“Redemption Date” shall
have the meaning specified in ‎Section 16.02.

 

“Redemption Notice” shall
have the meaning specified in ‎Section 16.02.

 

“Redemption Price” means,
for any Notes to be redeemed pursuant to ‎Section 16.01, 100% of the principal amount of such Notes, plus accrued and
unpaid interest, if any, to, but excluding, the Redemption Date (unless the Redemption Date falls after a Regular Record Date but
on or prior to the immediately succeeding Interest Payment Date, in which case interest accrued to the Interest Payment Date will
be paid to Holders of record of such Notes on such Regular Record Date, and the Redemption Price shall equal 100% of the principal
amount of such Notes).

 

“Reference Property”
shall have the meaning specified in ‎Section 14.07(a).

 

“Regular Record Date,”
with respect to any Interest Payment Date, shall mean the March 1 or September 1 (whether or not such day is a Business Day) immediately
preceding the applicable March 15 or September 15 Interest Payment Date, respectively.

 

    13

     

    

 

“Resale Restriction Termination
Date” shall have the meaning specified in ‎Section 2.05(c).

 

“Responsible Officer”
means, when used with respect to the Trustee, any officer within the corporate trust department of the Trustee, including any vice
president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee
who customarily performs functions similar to those performed by the Persons who at the time shall be such officers, respectively,
who shall have direct responsibility for the administration of this Indenture, or 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.

 

“Restricted Securities”
shall have the meaning specified in ‎Section 2.05(c).

 

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

 

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

 

“Scheduled Trading Day”
means a day that is scheduled to be a Trading Day on the principal U.S. national or regional securities exchange or market on which
the Common Stock is listed or admitted for trading. If the Common Stock is not so listed or admitted for trading, “Scheduled
Trading Day” means a Business Day.

 

“Securities Act” means
the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Settlement Amount” has
the meaning specified in ‎Section 14.02(a).

 

“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.

 

“Settlement Notice” has
the meaning specified in ‎Section 14.02(a)(iii).

 

“Significant Subsidiary”
means a Subsidiary of the Company that meets the definition of “significant subsidiary” in Article 1, Rule 1-02 of
Regulation S-X under the Exchange Act.

 

“Spin-Off” shall have
the meaning specified in ‎Section 14.04(c).

 

“Specified Dollar Amount”
means the maximum cash amount per $1,000 principal amount of Notes to be received upon conversion as specified in the notice specifying
the Company’s chosen Settlement Method.

 

“Specified Periods” shall
have the meaning specified in ‎Section 14.02(a).

 

“Stock Price” shall have
the meaning specified in ‎Section 14.03(c).

 

“Subsidiary” means, with
respect to any Person, any corporation, association, partnership or other business entity of which more than 50% of the total voting
power of shares of Capital Stock or other interests (including partnership interests) entitled (without regard to the occurrence
of any contingency) to vote in the election of directors, managers, general partners or trustees thereof is at the time owned or
controlled, directly or indirectly, by (i) such Person; (ii) such Person and one or more Subsidiaries of such Person; or (iii)
one or more Subsidiaries of such Person.

 

    14

     

    

 

“Successor Company” shall
have the meaning specified in ‎Section 11.01(a).

 

“Trading Day” means a
day on which (i) trading in the Common Stock generally occurs on The Nasdaq Global Select Market or, if the Common Stock is not
then listed on The Nasdaq Global Select Market, on the principal other U.S. national or regional securities exchange on which the
Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, on the
principal other market on which the Common Stock is then traded, and (ii) a Last Reported Sale Price for the Common Stock is available
on such securities exchange or market; provided that if the Common Stock is not so listed or traded, “Trading Day”
means a Business Day; and provided, further, that for purposes of determining amounts due upon conversion only, “Trading
Day” means a day on which (x) there is no Market Disruption Event and (y) trading in the Common Stock generally occurs
on The Nasdaq Global Select Market or, if the Common Stock is not then listed on The Nasdaq Global Select Market, on the principal
other U.S. national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then
listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then listed
or admitted for trading, except that if the Common Stock is not so listed or admitted for trading, “Trading Day”
means a Business Day.

 

“Trading Price” of the
Notes on any date of determination means the average of the secondary market bid quotations obtained by the Bid Solicitation Agent
for $2,000,000 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 the Company selects for this purpose; 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 $2,000,000 principal amount of Notes from a nationally recognized
securities dealer on any determination date, then the Trading Price per $1,000 principal amount of Notes on such determination
date shall be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion
Rate.

 

“transfer” shall have
the meaning specified in ‎Section 2.05(c).

 

“Trigger Event” shall
have the meaning specified in ‎Section 14.04(c).

 

“Trust Indenture Act”
means the Trust Indenture Act of 1939, as amended, as it was in force at the date of execution of this Indenture; provided,
however, that in the event the Trust Indenture Act of 1939 is amended after the date hereof, the term “Trust Indenture
Act” shall mean, to the extent required by such amendment, the Trust Indenture Act of 1939, as so amended.

 

    15

     

    

 

“Trustee” means the Person
named as the “Trustee” in the first paragraph of this Indenture until a successor trustee shall have become
such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include
each Person who is then a Trustee hereunder.

 

“unit of Reference Property”
shall have the meaning specified in ‎Section 14.07(a).

 

“Valuation Period” shall
have the meaning specified in ‎Section 14.04(c).

 

Section 1.02. References to Interest.
Unless the context otherwise requires, any reference to interest on, or in respect of, any Note in this Indenture shall be deemed
to include Additional Interest if, in such context, Additional Interest is, was or would be payable pursuant to any of ‎Section
4.06(d), ‎Section 4.06(e) and ‎Section 6.03. Unless the context otherwise requires, any express mention of Additional Interest
in any provision hereof shall not be construed as excluding Additional Interest in those provisions hereof where such express mention
is not made.

 

Article
2

Issue, Description, Execution, Registration and Exchange of Notes

 

Section 2.01. Designation and Amount.
The Notes shall be designated as the “1.50% Convertible Senior Notes due 2026.” The aggregate principal amount of Notes
that may be authenticated and delivered under this Indenture is initially limited to $287,500,000 subject to ‎Section 2.10
and except for Notes authenticated and delivered upon registration or transfer of, or in exchange for, or in lieu of other Notes
pursuant to ‎Section 2.05, ‎Section 2.06, ‎Section 10.04, ‎Section 14.02(d) and ‎Section 15.04(c).

 

Section 2.02. Form of Notes. The
Notes and the Trustee’s certificate of authentication to be borne by such Notes shall be substantially in the respective
forms set forth in the Form of Note, the terms and provisions of which shall constitute, and are hereby expressly incorporated
in and made a part of this Indenture. To the extent applicable, the Company and the Trustee, by their execution and delivery of
this Indenture, expressly agree to such terms and provisions and to be bound thereby.

 

Any Global Note may be endorsed with or
have incorporated in the text thereof such legends or recitals or changes not inconsistent with the provisions of this Indenture
as may be required by the Custodian or the Depositary, or as may be required to comply with any applicable law or any regulation
thereunder or with the rules and regulations of any securities exchange or automated quotation system upon which the Notes may
be listed or traded or designated for issuance or to conform with any usage with respect thereto, or to indicate any special limitations
or restrictions to which any particular Notes are subject.

 

Any of the Notes may have such letters,
numbers or other marks of identification and such notations, legends or endorsements as the Officers executing the same may approve
(execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the provisions of this Indenture,
or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation
of any securities exchange or automated quotation system on which the Notes may be listed or designated for issuance, or to conform
to usage or to indicate any special limitations or restrictions to which any particular Notes are subject.

 

    16

     

    

 

Each Global Note shall represent such principal
amount of the outstanding Notes as shall be specified therein and 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 increased or reduced to reflect redemptions, repurchases, cancellations, conversions, transfers
or exchanges permitted hereby. Any endorsement of the 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 or the Custodian, at the direction of the Trustee, in such
manner and upon instructions given by the Holder of such Notes in accordance with this Indenture. Payment of principal (including
the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, and accrued and unpaid interest 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.

 

Section 2.03. Date and Denomination of
Notes; Payments of Interest and Defaulted Amounts. (a) The Notes shall be issuable in registered form without coupons in minimum
denominations of $1,000 principal amount and integral multiples in excess thereof. Each Note shall be dated the date of its authentication
and shall bear interest from the date specified on the face of such Note. Accrued interest on the Notes shall be computed on the
basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed
in a 30-day month.

 

(b)           
The Person in whose name any Note (or its Predecessor Note) is registered on the Note Register at the close of business
on any Regular Record Date with respect to any Interest Payment Date shall be entitled to receive the interest payable on such
Interest Payment Date. Interest shall be payable at the office or agency of the Company maintained by the Company for such purposes
in the contiguous United States, which shall initially be the Corporate Trust Office. The Company shall pay interest (i) on any
Physical Notes (A) to Holders holding Physical Notes having an aggregate principal amount of $5,000,000 or less, by check mailed
to the Holders of these Notes at their address as it appears in the Note Register and (B) to Holders holding Physical Notes having
an aggregate principal amount of more than $5,000,000, either by check mailed to such Holders or, upon application by such Holder
to the Note Registrar and Paying Agent not later than the relevant Regular Record Date, by wire transfer in immediately available
funds to that Holder’s account within the United States, which application shall remain in effect until the Holder notifies,
in writing, the Note Registrar to the contrary or (ii) on any Global Note by wire transfer of immediately available funds to the
account of the Depositary or its nominee, or otherwise in accordance with the applicable procedures of the Depositary.

 

(c)           
Any Defaulted Amounts shall forthwith cease to be payable to the Holder on the relevant payment date but shall accrue interest
per annum at the then-applicable rate borne by the Notes, subject to the enforceability thereof under applicable law, from, and
including, such relevant payment date, and such Defaulted Amounts together with such interest thereon shall be paid by the Company,
at its election in each case, as provided in clause (i) or (ii) below:

 

    17

     

    

 

(i)           
The Company may elect to make payment of any Defaulted Amounts to the Persons in whose names the Notes (or their respective
Predecessor Notes) are registered at the close of business on a special record date for the payment of such Defaulted Amounts,
which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of the Defaulted Amounts
proposed to be paid on each Note and the date of the proposed payment (which shall be not less than 25 days after the receipt by
the Trustee of such notice, unless the Trustee shall consent to an earlier date), and at the same time the Company shall deposit
with the Trustee an amount of money equal to the aggregate amount to be paid in respect of such Defaulted Amounts or shall make
arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited
to be held in trust for the benefit of the Persons entitled to such Defaulted Amounts as in this clause provided. Thereupon the
Company shall fix a special record date for the payment of such Defaulted Amounts which shall be not more than 15 days and not
less than 10 days prior to the date of the proposed payment, and not less than 10 days after the receipt by the Trustee of the
notice of the proposed payment. The Company shall promptly notify the Trustee of such special record date and the Trustee, in the
name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Amounts and the special record
date therefor to be delivered to each Holder at its address as it appears in the Note Register, or by electronic means to the Depositary
in the case of Global Notes, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted
Amounts and the special record date therefor having been so delivered, such Defaulted Amounts shall be paid to the Persons in whose
names the Notes (or their respective Predecessor Notes) are registered at the close of business on such special record date and
shall no longer be payable pursuant to the following clause (ii) of this ‎Section 2.03‎(c).

 

(ii)           
The Company may make payment of any Defaulted Amounts in any other lawful manner not inconsistent with the requirements
of any securities exchange or automated quotation system on which the Notes may be listed or designated for issuance, and upon
such notice as may be required by such exchange or automated quotation system, if, after notice given by the Company to the Trustee
of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.

 

Section 2.04. Execution, Authentication
and Delivery of Notes. The Notes shall be signed in the name and on behalf of the Company by the manual or facsimile signature
of its Chief Executive Officer, President, Chief Financial Officer, Treasurer, Secretary or any of its Executive or Senior Vice
Presidents.

 

At any time and from time to time after
the execution and delivery of this Indenture, 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, without any further action by the Company hereunder.

 

    18

     

    

 

Only such Notes as shall bear thereon a
certificate of authentication substantially in the form set forth on the Form of Note, executed manually by an authorized signatory
of the Trustee (or an authenticating agent appointed by the Trustee as provided by ‎Section 17.11), shall be entitled to the
benefits of this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee (or such an authenticating
agent) upon any Note executed by the Company shall be conclusive evidence that the Note so authenticated has been duly authenticated
and delivered hereunder and that the Holder is entitled to the benefits of this Indenture.

 

In case any Officer of the Company who shall
have signed any of the Notes shall cease to be such Officer before the Notes so signed shall have been authenticated and delivered
by the Trustee, or disposed of by the Company, such Notes nevertheless may be authenticated and delivered or disposed of as though
the Person who signed such Notes had not ceased to be such Officer of the Company; and any Note may be signed on behalf of the
Company by such persons as, at the actual date of the execution of such Note, shall be the Officers of the Company, although at
the date of the execution of this Indenture any such Person was not such an Officer.

 

Section 2.05. Exchange and Registration
of Transfer of Notes; Restrictions on Transfer; Depositary. (a) The Company shall cause to be kept at the Corporate Trust Office
a register (the register maintained in such office or in any other office or agency of the Company designated pursuant to ‎Section
4.02, the “Note Register”) in which, subject
to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Notes and of transfers of
Notes. Such register shall be in written form or in any form capable of being converted into written form within a reasonable period
of time. The Trustee is hereby initially appointed the “Note Registrar” for the purpose of registering Notes
and transfers of Notes as herein provided. The Company may change or appoint one or more co-Note Registrars in accordance with
‎Section 4.02.

 

Upon surrender for registration of transfer
of any Note to the Note Registrar or any co-Note Registrar, and satisfaction of the requirements for such transfer set forth in
this ‎Section 2.05, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated
transferee or transferees, one or more new Notes of any authorized denominations and of a like aggregate principal amount and bearing
such restrictive legends as may be required by this Indenture.

 

Notes may be exchanged for other Notes of
any authorized denominations and of a like aggregate principal amount, upon surrender of the Notes to be exchanged at any such
office or agency maintained by the Company pursuant to ‎Section 4.02. 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.

 

All Notes presented or surrendered for registration
of transfer or for exchange, repurchase or conversion shall (if so required by the Company, the Trustee, the Note Registrar or
any co-Note Registrar) be duly endorsed, or be accompanied by a written instrument or instruments of transfer in form satisfactory
to the Company and duly executed, by the Holder thereof or its attorney-in-fact duly authorized in writing.

 

    19

     

    

 

No service charge shall be imposed by the
Company, the Trustee, the Note Registrar, any co-Note Registrar or the Paying Agent for any exchange or registration of transfer
of Notes, but the Company may require a Holder to pay a sum sufficient to cover any documentary, stamp or similar issue or transfer
tax 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 exchange or registration of transfer.

 

None of the Company, the Trustee, the Note
Registrar or any co-Note Registrar shall be required to exchange or register a transfer of (i) any Notes surrendered for conversion
or, if a portion of any Note is surrendered for conversion, such portion thereof surrendered for conversion, (ii) any Notes, or
a portion of any Note, surrendered for repurchase (and not withdrawn) in accordance with ‎Article 15 or (iii) any Notes selected
for redemption in whole or in part, and if, in part, the portion of such Note selected for redemption.

 

All Notes issued upon any registration of
transfer or exchange of Notes in accordance with this Indenture shall be the valid obligations of the Company, evidencing the same
debt, and entitled to the same benefits under this Indenture as the Notes surrendered upon such registration of transfer or exchange.

 

(b)           
So long as the Notes are eligible for book-entry settlement with the Depositary, unless otherwise required by law, subject
to the fourth paragraph from the end of ‎Section 2.05(c) all Notes shall be represented by one or more Notes in global form
(each, a “Global Note”) registered in the name of the Depositary or the nominee of the Depositary. The transfer
and exchange of beneficial interests in a Global Note that does not involve the issuance of a Physical Note shall be effected through
the Depositary (but not the Trustee or the Custodian) in accordance with this Indenture (including the restrictions on transfer
set forth herein) and the procedures of the Depositary therefor.

 

(c)           
Every Note that bears or is required under this ‎Section 2.05(c) to bear the legend set forth in this ‎Section 2.05(c)
(together with any Common Stock issued upon conversion of the Notes that is required to bear the legend set forth in ‎Section
2.05(d), collectively, the “Restricted Securities”) shall be subject to the restrictions on transfer set forth
in this ‎Section 2.05(c) (including the legend set forth below), unless such restrictions on transfer shall be eliminated or
otherwise waived by written consent of the Company, and the Holder of each such Restricted Security, by such Holder’s acceptance
thereof, agrees to be bound by all such restrictions on transfer. As used in this ‎Section 2.05(c) and ‎Section 2.05(d),
the term “transfer” encompasses any sale, pledge, transfer or other disposition whatsoever of any Restricted
Security.

 

Until the date (the “Resale Restriction
Termination Date”) that is 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 as permitted by Rule 144 or any successor provision thereto, and (2) such later date, if
any, as may be required by applicable law, any certificate evidencing such Note (and all securities issued in exchange therefor
or substitution thereof, other than Common Stock, if any, issued upon conversion thereof, which shall bear the legend set forth
in ‎Section 2.05(d), if applicable) shall bear a legend in substantially the following form (unless such Notes have been transferred
pursuant to a registration statement that has become or been declared effective under the Securities Act and that was effective
at the time of such transfer, or sold pursuant to the exemption from registration provided by Rule 144 or any similar provision
then in force under the Securities Act, or unless otherwise agreed by the Company in writing, with notice thereof to the Trustee):

 

    20

     

    

 

THIS SECURITY AND THE COMMON STOCK, IF ANY,
ISSUABLE UPON CONVERSION OF THIS SECURITY HAVE 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 IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL BUYER” (WITHIN THE MEANING OF RULE 144A
UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, AND

 

(2)       AGREES
FOR THE BENEFIT OF PTC THERAPEUTICS, INC. (THE “COMPANY”) THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE
TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL
ISSUE DATE HEREOF OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THERETO
AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT:

 

(A)       TO
THE COMPANY OR ANY SUBSIDIARY THEREOF, OR

 

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

 

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

 

(D)       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 CLAUSE (2)(D) ABOVE, THE COMPANY AND THE TRUSTEE RESERVE 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
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

 

    21

     

    

 

No transfer of any Note prior to the Resale
Restriction Termination Date will be registered by the Note Registrar unless the applicable box on the Form of Assignment and Transfer
has been checked.

 

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 Note Registrar in accordance with the provisions of this ‎Section 2.05, be exchanged
for a new Note or Notes, of like tenor and aggregate principal amount, which shall not bear the restrictive legend required by
this ‎Section 2.05(c) and shall not be assigned a restricted CUSIP
number. The Company and the Trustee reserve 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. The Company shall be entitled to instruct the Custodian 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, the Custodian shall so surrender such Global Note for exchange; and any new Global Note so exchanged therefor
shall not bear the restrictive legend specified in this ‎Section 2.05(c) and
shall not be assigned a restricted CUSIP number. The Company shall promptly notify the Trustee upon the occurrence of the
Resale Restriction Termination 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.

 

Notwithstanding any other provisions of
this Indenture (other than the provisions set forth in this ‎Section 2.05(c)), a Global Note may not be transferred as a whole
or in part except (i) 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
and (ii) for transfers of portions of such Global Note made upon request of a member of, or a participant in, the Depositary (for
itself or on behalf of a beneficial owner) by written notice given to the Trustee by or on behalf of the Depositary in accordance
with customary procedures of the Depositary and in compliance with this ‎Section 2.05(c).

 

The Depositary shall be a clearing agency
registered under the Exchange Act. The Company initially appoints The Depository Trust Company to act as Depositary with respect
to each Global Note. Initially, each Global Note shall be issued to the Depositary, registered in the name of Cede & Co., as
the nominee of the Depositary, and deposited with the Trustee as custodian for Cede & Co.

 

If (i) the Depositary notifies the Company
at any time that the Depositary is unwilling or unable to continue as depositary for the Global Notes and a successor depositary
is not appointed within 90 days, (ii) the Depositary ceases to be registered as a clearing agency under the Exchange Act and a
successor depositary is not appointed within 90 days or (iii) an Event of Default with respect to the Notes has occurred and is
continuing and a beneficial owner of any Note requests that its beneficial interest therein be issued as a Physical Note, the Company
shall execute, and the Trustee, upon receipt of an Officer’s Certificate and a Company Order for the authentication and delivery
of Notes, shall authenticate and deliver (x) in the case of clause (iii), a Physical Note to such beneficial owner in a principal
amount equal to the principal amount of such Note corresponding to such beneficial owner’s beneficial interest and (y) in
the case of clause (i) or (ii), Physical Notes to each beneficial owner of the related Global Notes (or a portion thereof) in an
aggregate principal amount equal to the aggregate principal amount of such Global Notes in exchange for such Global Notes, and
upon delivery of the Global Notes to the Trustee such Global Notes shall be canceled.

 

    22

     

    

 

Physical Notes issued in exchange for all
or a part of the Global Note pursuant to this ‎Section 2.05(c) shall be registered in such names and in such authorized denominations
as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee.
Upon execution and authentication, the Trustee shall deliver such Physical Notes to the Persons in whose names such Physical Notes
are so registered.

 

At such time as all interests in a Global
Note have been converted, canceled, repurchased or transferred, such Global Note shall be, upon receipt thereof, canceled by the
Trustee in accordance with standing procedures and existing instructions between the Depositary and the Custodian. At any time
prior to such cancellation, if any interest in a Global Note is exchanged for Physical Notes, converted, canceled, repurchased,
redeemed or transferred to a transferee who receives Physical Notes therefor or any Physical Note is exchanged or transferred for
part of such Global Note, the principal amount of such Global Note shall, in accordance with the standing procedures and instructions
existing between the Depositary and the Custodian, be appropriately reduced or increased, as the case may be, and an endorsement
shall be made on such Global Note, by the Trustee or the Custodian, at the direction of the Trustee, to reflect such reduction
or increase.

 

Neither the Company, the Trustee nor any
agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the records relating to or payments
made on account of beneficial ownership interests of a Global Note or maintaining, supervising or reviewing any records relating
to such beneficial ownership interests.

 

(d)           
Until the Resale Restriction Termination Date, any stock certificate representing Common Stock issued upon conversion of
such Note shall bear a legend in substantially the following form (unless the Note or such Common Stock has been transferred pursuant
to a registration statement that has become or been declared effective under the Securities Act and that was effective at the time
of such transfer, or pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under
the Securities Act, or such Common Stock has been issued upon conversion of Notes that have been transferred pursuant to a registration
statement that has become or been declared effective under the Securities Act and that was effective at the time of such transfer,
or pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities
Act, or unless otherwise agreed by the Company with written notice thereof to the Trustee and any transfer agent for the Common
Stock):

 

THIS SECURITY 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:

 

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

 

(2)       AGREES
FOR THE BENEFIT OF PTC THERAPEUTICS, INC. (THE “COMPANY”) THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE
TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL
ISSUE DATE OF THE SERIES OF NOTES UPON THE CONVERSION OF WHICH THIS SECURITY WAS ISSUED OR SUCH SHORTER PERIOD OF TIME AS PERMITTED
BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THERETO AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY
APPLICABLE LAW, EXCEPT:

 

(A)       TO
THE COMPANY OR ANY SUBSIDIARY THEREOF, OR

 

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

 

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

 

(D)       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 CLAUSE (2)(D) ABOVE, THE COMPANY AND THE TRANSFER AGENT FOR THE COMPANY’S COMMON STOCK RESERVE 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 EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

 

Any such Common Stock as to which such restrictions
on transfer shall have expired in accordance with their terms may, upon surrender of the certificates representing such shares
of Common Stock for exchange in accordance with the procedures of the transfer agent for the Common Stock, be exchanged for a new
certificate or certificates for a like aggregate number of shares of Common Stock, which shall not bear the restrictive legend
required by this ‎Section 2.05(d).

 

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(e)           
Any Note or Common Stock issued upon the conversion or exchange of a Note that is repurchased or owned by any Affiliate
of the Company may not be resold by the Company or such Affiliate unless registered under the Securities Act or resold pursuant
to an exemption from the registration requirements of the Securities Act in a transaction that results in such Note or Common Stock,
as the case may be, no longer being a “restricted security” (as defined under Rule 144). The Company shall cause any
Note that is repurchased or owned by the Company to be surrendered to the Trustee for cancellation as described in ‎Section
2.08 and ‎Section 2.10.

 

(f)           
Neither the Trustee, the Note Registrar nor the Conversion Agent shall have any duty to monitor the Company’s compliance
with or have any responsibility with respect to the Company’s compliance with any federal or state securities laws in connection
with registrations of transfers and exchanges or conversions of the Notes. 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 or conversion of any interest in any Note (including any transfers between or among the Depositary’s
participants or beneficial owners of beneficial interests in any Global Note) other than to require delivery of such certificates
and other documentation, as is 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.

 

(g)           
Neither the Trustee nor any agent shall have any responsibility or liability for any actions taken or not taken by the Depositary.

 

Section 2.06. Mutilated, Destroyed, Lost
or Stolen Notes. In case any Note shall become mutilated or be destroyed, lost or stolen, the Company in its discretion may
execute, and upon its written request the Trustee or an authenticating agent appointed by the Trustee shall authenticate and deliver,
a new Note, bearing a registration number not contemporaneously outstanding, in exchange and substitution for the mutilated Note,
or in lieu of and in substitution for the Note so destroyed, lost or stolen. In every case the applicant for a substituted Note
shall furnish to the Company, to the Trustee and, if applicable, to such authenticating agent such security or indemnity as may
be required by them to save each of them harmless from any loss, liability, cost or expense caused by or connected with such substitution,
and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company, to the Trustee and, if applicable,
to such authenticating agent evidence to their satisfaction of the destruction, loss or theft of such Note and of the ownership
thereof.

 

The Trustee or such authenticating agent
may authenticate any such substituted Note and deliver the same upon the receipt of such security or indemnity as the Trustee,
the Company and, if applicable, such authenticating agent may require. Upon the issuance of any substitute Note, the Company or
the Trustee may require the payment by the Holder of a sum sufficient to cover any tax, assessment or other governmental charge
that may be imposed in relation thereto and any other expenses connected therewith. In case any Note that has matured or is about
to mature or has been surrendered for required repurchase or is about to be converted in accordance with ‎Article 14 shall
become mutilated or be destroyed, lost or stolen, the Company may, in its sole discretion, instead of issuing a substitute Note,
pay or authorize the payment of or convert or authorize the conversion of the same (without surrender thereof except in the case
of a mutilated Note), as the case may be, if the applicant for such payment or conversion shall furnish to the Company, to the
Trustee and, if applicable, to such authenticating agent such security or indemnity as may be required by them to save each of
them harmless for any loss, liability, cost or expense caused by or connected with such substitution, and, in every case of destruction,
loss or theft, evidence satisfactory to the Company, the Trustee and, if applicable, any Paying Agent or Conversion Agent evidence
of their satisfaction of the destruction, loss or theft of such Note and of the ownership thereof.

 

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Every substitute Note issued pursuant to
the provisions of this ‎Section 2.06 by virtue of the fact that any Note is destroyed, lost or stolen shall constitute an additional
contractual obligation of the Company, whether or not the destroyed, lost or stolen Note shall be found at any time, and shall
be entitled to all the benefits of (but shall be subject to all the limitations set forth in) this Indenture equally and proportionately
with any and all other Notes duly issued hereunder. To the extent permitted by law, all Notes shall be held and owned upon the
express condition that the foregoing provisions are exclusive with respect to the replacement or payment or conversion or repurchase
of mutilated, destroyed, lost or stolen Notes and shall preclude any and all other rights or remedies notwithstanding any law or
statute existing or hereafter enacted to the contrary with respect to the replacement, redemption, payment or conversion of negotiable
instruments or other securities without their surrender.

 

Section 2.07. Temporary Notes. Pending
the preparation of Physical Notes, 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
shall be issuable in any authorized denomination, and substantially in the form of the Physical Notes but with such omissions,
insertions and variations as may be appropriate for temporary Notes, all as may be 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 Physical Notes. Without unreasonable delay, the Company shall
execute and deliver to the Trustee or such authenticating agent Physical 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 4.02 and the Trustee or such authenticating agent shall authenticate and deliver in exchange
for such temporary Notes an equal aggregate principal amount of Physical 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 Physical Notes authenticated and delivered hereunder.

 

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Section 2.08. Cancellation of Notes Paid,
Converted, Etc. The Company shall cause all Notes surrendered for the purpose of payment, repurchase, 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 in accordance with its then existing procedures, and no Notes shall be authenticated in exchange thereof 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. If the Company shall acquire any of the Notes, such acquisition shall not operate as a redemption,
repurchase or satisfaction of the indebtedness represented by such Notes unless and until the same are delivered to the Trustee
for cancellation.

 

Section 2.09. CUSIP Numbers. The
Company in issuing the Notes may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use
“CUSIP” numbers in all notices issued to Holders as a convenience to such Holders; provided that any such notice
may state that no representation is made as to the correctness of such numbers either as printed on the Notes or on such notice
and that reliance may be placed only on the other identification numbers printed on the Notes. The Company shall promptly notify
the Trustee in writing of any change in the “CUSIP” numbers.

 

Section 2.10. Additional Notes; Repurchases.
The Company may, without the consent of the Holders and notwithstanding ‎Section 2.01, reopen this Indenture and issue additional
Notes hereunder with the same terms and with the same CUSIP number as the Notes initially issued hereunder (other than differences
in the issue price) 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 or securities law purposes, such additional Notes shall have
a separate CUSIP number. 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 17.05 and
‎Section 17.06, as the Trustee shall reasonably request.
In addition, 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, with or without notice to Holders, 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. The Company shall cause any Notes so repurchased (other than Notes repurchased
pursuant to cash-settled swaps or other derivatives) to be surrendered to the Trustee for cancellation in accordance with ‎Section
2.08 and such Notes shall no longer be considered outstanding hereunder upon their repurchase. Any such Notes repurchased shall
not be considered a redemption under this Indenture.

 

Article
3

Satisfaction and Discharge

 

Section 3.01. Satisfaction and Discharge.
This Indenture shall upon request of the Company contained in an Officer’s Certificate cease to be of further effect, and
the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture,
when (a) (i) all Notes theretofore authenticated and delivered (other than (x) Notes which have been destroyed, lost or stolen
and which have been replaced or paid as provided in ‎Section 2.06 and (y) Notes for whose payment money has theretofore been
deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such
trust, as provided in ‎Section 4.04(d)) have been irrevocably delivered to the Trustee for cancellation; or (ii) the Company
has deposited with the Trustee or delivered to Holders, as applicable, after the Notes have become due and payable, whether on
the Maturity Date, any Redemption Date, any Fundamental Change Repurchase Date, upon conversion or otherwise, cash or cash and/or
shares of Common Stock, solely to satisfy the Company’s Conversion Obligation, as applicable, sufficient to pay all of the
outstanding Notes and all other sums due and payable under this Indenture by the Company; and (b) the Company has delivered to
the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided
for relating to the satisfaction and discharge of this Indenture have been complied with. Notwithstanding the satisfaction and
discharge of this Indenture, the obligations of the Company to the Trustee under ‎Section 7.07 shall survive.

 

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Article
4

Particular Covenants of the Company

 

Section 4.01. Payment of Principal and
Interest. The Company covenants and agrees that it will cause to be paid the principal (including the Redemption Price and
the Fundamental Change Repurchase Price, if applicable) of, and accrued and unpaid interest on, each of the Notes at the places,
at the respective times and in the manner provided herein and in the Notes.

 

Section 4.02. Maintenance of Office or
Agency. The Company will maintain in the contiguous United States, an office or agency where the Notes may be surrendered for
registration of transfer or exchange or for presentation for payment or repurchase (“Paying Agent”) or for conversion
(“Conversion Agent”) and where notices and demands to or upon the Company in respect of the Notes and this Indenture
may be served. The Company may change the location of the Paying Agent or the Conversion Agent within the contiguous United States,
without providing prior notice to the Holders but will give prompt written notice to the Trustee of the location, and any change
in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency
or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made
or served at the Corporate Trust Office. The Company may serve as Paying Agent or Conversion Agent.

 

The Company may also from time to time designate
as co-Note Registrars one or more other offices or agencies where the Notes may be presented or surrendered for any or all such
purposes and may from time to time rescind such designations; provided that no such designation or rescission shall in any
manner relieve the Company of its obligation to maintain an office or agency in the contiguous United States, for such purposes.
The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location
of any such other office or agency. The Company may serve as Note Registrar. The terms “Paying Agent” and “Conversion
Agent” include any such additional or other offices or agencies, as applicable.

 

The Company hereby initially designates
the Trustee as the Paying Agent, Note Registrar, Custodian and Conversion Agent and the Corporate Trust Office as the office or
agency in the contiguous United States, where Notes may be surrendered for registration of transfer or exchange or for presentation
for payment or repurchase or for conversion and where notices and demands to or upon the Company in respect of the Notes and this
Indenture may be served.

 

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Section 4.03. 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 7.10, a Trustee, so that there shall at all times be a Trustee hereunder.

 

Section 4.04. 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 4.04:

 

(i)           
that it will hold all sums held by it as such agent for the payment of the principal (including the Redemption Price and
the Fundamental Change Repurchase 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 Redemption Price and the Fundamental Change Repurchase 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 Redemption Price and the Fundamental Change Repurchase 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 Redemption
Price and the Fundamental Change Repurchase 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 Redemption
Price and the Fundamental Change Repurchase 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 Redemption
Price and the Fundamental Change Repurchase 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 Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, or accrued and unpaid interest
on, the Notes when the same shall become due and payable.

 

(c)           
Anything in this ‎Section 4.04 to the contrary notwithstanding, 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 4.04, 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.

 

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(d)           
Any money and shares of Common Stock deposited with the Trustee or any Paying Agent, or then held by the Company, in trust
for the payment of the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of,
and accrued and unpaid interest on, any Note and remaining unclaimed for two years after such principal (including the Redemption
Price and the Fundamental Change Repurchase Price, if applicable) or interest has become due and payable shall, subject to applicable
abandoned property law, 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 Paying Agent with respect to such
trust money and shares of Common Stock, 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, The City of New York, notice that such money and shares of Common Stock
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 and shares of Common Stock then remaining will be repaid or delivered to the Company.

 

(e)           
Upon any Event of Default pursuant to Section 6.01(i) or Section 6.01(j), the Trustee shall automatically be the Paying
Agent.

 

Section 4.05. Existence. Subject
to ‎Article 11, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect
its corporate existence.

 

Section 4.06. Rule 144A Information Requirement
and Annual Reports. (a) At any time the Company is not subject to Sections 13 or 15(d) of the Exchange Act, the Company shall,
so long as any of the Notes or any shares of Common Stock issuable upon conversion thereof shall, at such time, constitute “restricted
securities” within the meaning of Rule 144(a)(3) under the Securities Act, promptly provide to the Trustee and shall, upon
written request, provide to any Holder, beneficial owner or prospective purchaser of such Notes or any shares of Common Stock issuable
upon conversion of such Notes, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act to
facilitate the resale of such Notes or shares of Common Stock pursuant to Rule 144A.

 

(b)           
The Company shall file with the Trustee within 15 days after the same are required to be filed with the Commission, copies
of any documents or reports that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange
Act (excluding any such information, documents or reports, or portions thereof, subject to confidential treatment and any correspondence
with the Commission) (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 Commission via the Commission’s EDGAR system shall be deemed to be filed with the Trustee
for purposes of this ‎Section 4.06(b) at the time such documents are filed via the EDGAR system. The Trustee shall have no
responsibility to determine if such filing has occurred.

 

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(c)           
Delivery of the reports and documents described in subsection ‎(b) above to the Trustee is for informational purposes
only, and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or
determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as
to which the Trustee is entitled to conclusively rely on an Officer’s Certificate).

 

(d)           
If, at any time during the six-month period beginning on, and including, the date that is six months after the last date
of original issuance of the Notes, the Company fails to timely file any document or report that it is required to file with the
Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods
thereunder and other than reports on Form 8-K), or the Notes are not otherwise freely tradable during such period by Holders other
than the Company’s Affiliates or Holders that were the Company’s Affiliates at any time during the three months immediately
preceding (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. Such Additional Interest shall accrue on the Notes at the rate of 0.50% per annum of
the principal amount of the Notes outstanding for each day during such period for which the Company’s failure to file has
occurred and is continuing or the Notes are not otherwise freely tradable by Holders other than the Company’s Affiliates
(or Holders that have been the Company’s Affiliates at any time during the three months immediately preceding) without restrictions
pursuant to U.S. securities laws or the terms of this Indenture or the Notes. As used in this ‎Section 4.06(d), documents or
reports that the Company is required to “file” with the Commission pursuant to Section 13 or 15(d) of the Exchange
Act do not include documents or reports that the Company furnishes to the Commission pursuant to Section 13 or 15(d) of the Exchange
Act.

 

(e)           
If, and for so long as, the restrictive legend on the Notes specified in ‎Section 2.05(c) has not been removed (or deemed
removed pursuant to this Indenture), the Notes are assigned a restricted CUSIP number or the Notes are not otherwise freely tradable
by Holders other than the Company’s Affiliates or Holders that were the Company’s Affiliates at any time during the
three months immediately preceding (without restrictions pursuant to U.S. securities laws or the terms of this Indenture or the
Notes) as of the 370th day after the last date of original issuance of the Notes, the Company shall pay Additional Interest
on the Notes at a rate equal to 0.50% per annum of the principal amount of Notes outstanding for each day from, and including,
the 370th day, until the restrictive legend on the Notes has been removed in accordance with ‎Section 2.05(c), the
Notes are assigned an unrestricted CUSIP number and the Notes are freely tradable by Holders other than the Company’s Affiliates
(or Holders that were the Company’s Affiliates at any time during the three months immediately preceding) without restrictions
pursuant to U.S. securities laws or the terms of this Indenture or the Notes.

 

(f)           
Additional Interest will be payable in arrears on each Interest Payment Date following accrual in the same manner as regular
interest on the Notes.

 

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(g)           
The Additional Interest that is payable in accordance with Section 4.06‎(d) or Section 4.06‎(e), when taken together
with any interest payable as a result of the Company’s election pursuant to ‎Section 6.03, shall not, in the aggregate,
exceed 0.50% per annum.

 

(h)           
If Additional Interest is payable by the Company pursuant to Section 4.06‎(d) or Section 4.06‎(e), the Company shall
deliver to the Trustee an Officer’s Certificate to that effect stating (i) the amount of such Additional Interest that is
payable and (ii) the Interest Payment Date on which such Additional Interest is payable. Unless and until a Responsible Officer
of the Trustee receives at the Corporate Trust Office such a certificate, the Trustee may assume without inquiry that no such Additional
Interest is payable. If the Company has paid Additional Interest directly to the Persons entitled to it, the Company shall deliver
to the Trustee an Officer’s Certificate setting forth the particulars of such payment. The Trustee shall have no duty to
verify the Company’s determination as to whether Additional Interest is due or the Company’s calculations as to the
amount of such Additional Interest.

 

Section 4.07. Stay, Extension and Usury
Laws. The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or
in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law that would prohibit
or forgive the Company from paying all or any portion of the principal of or interest on the Notes as contemplated herein, wherever
enacted, now or at any time hereafter in force, or that may affect the covenants or the performance of this Indenture; and the
Company (to the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that
it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will
suffer and permit the execution of every such power as though no such law had been enacted.

 

Section 4.08. Compliance Certificate;
Statements as to Defaults. The Company shall deliver to the Trustee within 120 days after the end of each fiscal year of the
Company (beginning with the fiscal year ending on December 31, 2015) an Officer’s Certificate that need not comply with ‎Section
17.05 or ‎Section
17.06 stating whether or not the signers thereof have knowledge of any failure by the Company to comply with all conditions
and covenants then required to be performed under this Indenture and, if so, specifying each such failure and the nature thereof.

 

In addition, the Company shall deliver to
the Trustee, as soon as possible, and in any event within 30 days after the Company becomes aware of the occurrence of any Event
of Default or Default, an Officer’s Certificate setting forth the details of such Event of Default or Default, its status
and the action that the Company is taking or proposing to take in respect thereof.

 

Section 4.09. Further Instruments and
Acts. Upon request of the Trustee, the Company will execute and deliver such further instruments and do such further acts as
may be reasonably necessary or proper to carry out more effectively the purposes of this Indenture.

 

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Article
5

Lists of Holders and Reports by the Company and the Trustee

 

Section 5.01. Lists of Holders. The
Company covenants and agrees that it will furnish or cause to be furnished to the Trustee, semi-annually, not more than 15 days
after each March 1 and September 1 in each year beginning with March 1, 2020, and at such other times as the Trustee may request
in writing, within 30 days after receipt by the Company of any such request (or such lesser time as the Trustee may reasonably
request in order to enable it to timely provide any notice to be provided by it hereunder), a list in such form as the Trustee
may reasonably require of the names and addresses of the Holders as of a date not more than 15 days (or such other date as the
Trustee may reasonably request in order to so provide any such notices) prior to the time such information is furnished, except
that no such list need be furnished so long as the Trustee is acting as Note Registrar.

 

Section 5.02. Preservation and Disclosure
of Lists. The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and
addresses of the Holders contained in the most recent list furnished to it as provided in ‎Section 5.01 or maintained by the
Trustee in its capacity as Note Registrar, if so acting. The Trustee may destroy any list furnished to it as provided in ‎Section
5.01 upon receipt of a new list so furnished.

 

Article
6

Defaults and Remedies

 

Section 6.01. Events of Default.
The following events shall be “Events of Default” with respect to the Notes:

 

(a)           
default in any payment of interest on any Note when due and payable and the default continues for a period of 30 days;

 

(b)           
default in the payment of principal of any Note when due and payable on the Maturity Date, upon any optional redemption,
upon any required repurchase, upon declaration of acceleration or otherwise;

 

(c)           
failure by the Company to comply with its obligation to convert the Notes in accordance with this Indenture upon exercise
of a Holder’s conversion right and such failure continues for a period of three Business Days;

 

(d)           
failure by the Company to issue a Fundamental Change Company Notice in accordance with ‎Section 15.02(c) or
notice of a specified corporate event in accordance with Section 14.01(b)(ii) or 14.01(b)(iii), in each case when due and such
failure continues for a period of three Business Days after the due date;

 

(e)           
failure by the Company to comply with its obligations under ‎Article 11;

 

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(f)           
failure by the Company for 60 days after written notice from the Trustee or the Holders of at least 25% in principal amount
of the Notes then outstanding has been received by the Company to comply with any of its other agreements contained in the Notes
or this Indenture;

 

(g)           
default by the Company or any Subsidiary of the Company with respect to any mortgage, agreement or other instrument under
which there may be outstanding, or by which there may be secured or evidenced, any indebtedness for money borrowed having a principal
amount in excess of $25 million in the aggregate of the Company and/or any such Subsidiary, whether such indebtedness now exists
or shall hereafter be created (i) resulting in such indebtedness becoming or being declared due and payable without such indebtedness
having been discharged or the acceleration of payment of such indebtedness having been cured, rescinded, waived or annulled within
30 days after written notice of such acceleration has been received by the Company or such Subsidiary or (ii) constituting a failure
to pay the principal or interest of any such debt when due and payable (after any applicable grace period) at its stated maturity,
upon required repurchase, upon declaration of acceleration or otherwise;

 

(h)           
a final judgment for the payment of $25 million or more (excluding any amounts covered by insurance) rendered against the
Company or any Subsidiary of the Company, which judgment is not satisfied, paid, discharged or stayed within 60 days after (i)
the date on which the right to appeal thereof has expired if no such appeal has commenced, or (ii) the date on which all rights
to appeal have been extinguished;

 

(i)           
the Company or any Significant Subsidiary 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

 

(j)           
an involuntary case or other proceeding shall be commenced against the Company or any Significant Subsidiary seeking liquidation,
reorganization or other relief with respect to the Company or such Significant Subsidiary or its debts under any bankruptcy, insolvency
or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other
similar official of the Company or such Significant Subsidiary or any substantial part of its property, and such involuntary case
or other proceeding shall remain undismissed and unstayed for a period of 30 consecutive days.

 

Section 6.02. Acceleration; Rescission
and Annulment. In case one or more Events of Default shall have occurred and be continuing (whatever the reason for such Event
of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree
or order of any court or any order, rule or regulation of any administrative or governmental body), then, and in each and every
such case (other than an Event of Default specified in ‎Section 6.01(i) or ‎Section 6.01(j) with respect to the Company
or any of its Significant Subsidiaries), unless the principal of all of the Notes shall have already become due and payable, either
the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding determined in accordance
with ‎Section 8.04, by notice in writing to the Company (and to the Trustee if given by Holders) may declare 100% of the principal
of, and accrued and unpaid interest on, all the Notes to be due and payable immediately, and upon any such declaration the same
shall become and shall automatically be immediately due and payable, anything in this Indenture or in the Notes contained to the
contrary notwithstanding. If an Event of Default specified in ‎Section 6.01(i) or ‎Section 6.01(j) with respect to the
Company or any of its Significant Subsidiaries occurs and is continuing, 100% of the principal of, and accrued and unpaid interest,
if any, on, all Notes shall become and shall automatically be immediately due and payable.

 

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The immediately preceding paragraph, however,
is subject to the conditions that if, at any time after the principal of the Notes shall have been so declared due and payable,
and before any judgment or decree for the payment of the monies due shall have been obtained or entered as hereinafter provided,
the Company shall pay or shall deposit with the Trustee a sum sufficient to pay installments of accrued and unpaid interest upon
all Notes and the principal of any and all Notes that shall have become due otherwise than by acceleration (with interest on overdue
installments of accrued and unpaid interest to the extent that payment of such interest is enforceable under applicable law, and
on such principal at the rate borne by the Notes at such time) and amounts due to the Trustee pursuant to ‎Section 7.07, and
if (1) rescission would not conflict with any judgment or decree of a court of competent jurisdiction and (2) any and all existing
Events of Default under this Indenture, other than the nonpayment of the principal of and accrued and unpaid interest, if any,
on Notes that shall have become due solely by such acceleration, shall have been cured or waived pursuant to ‎Section 6.09,
then and in every such case (except as provided in the immediately succeeding sentence) the Holders of a majority in aggregate
principal amount of the Notes then outstanding, by written notice to the Company and to the Trustee, may waive all Defaults or
Events of Default with respect to the Notes and rescind and annul such declaration and its consequences and such Default shall
cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture;
but no such waiver or rescission and annulment shall extend to or shall affect any subsequent Default or Event of Default, or shall
impair any right consequent thereon. Notwithstanding anything to the contrary herein, no such waiver or rescission and annulment
shall extend to or shall affect any Default or Event of Default resulting from (i) the nonpayment of the principal (including the
Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, or accrued and unpaid interest on, any Notes,
(ii) a failure to repurchase any Notes when required or (iii) a failure to pay or deliver, as the case may be, the consideration
due upon conversion of the Notes.

 

Section 6.03. Additional Interest.
Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for
Event of Default relating to the Company’s failure to comply with its obligations as set forth in ‎Section 4.06(b) (i)
for the first 90 days after the occurrence of such an Event of Default shall consist exclusively of the right to receive Additional
Interest on the Notes at a rate equal to 0.25% per annum of the principal amount of the Notes outstanding for each day during
the 90-day period on which such Event of Default is continuing beginning on, and including, the date on which such an Event of
Default first occurs and (ii) for the period from, and including, the 91st day after the occurrence of such an Event
of Default to, and including, the 180th day after the occurrence of such an Event of Default shall consist exclusively
of the right to receive Additional Interest on the Notes at a rate equal to 0.50% per annum of the principal amount of the Notes
outstanding for each day during such additional 90-day period on which such Event of Default is continuing. Additional Interest
payable pursuant to this ‎Section 6.03, when taken together with any Additional Interest payable pursuant to ‎Section 4.06(d)
or ‎Section 4.06(e), shall not, in the aggregate, exceed 0.50% per annum. If the Company so elects, such Additional Interest
shall be payable in the same manner and on the same dates as the stated interest payable on the Notes. On the 181st day after such
Event of Default (if the Event of Default relating to the Company’s failure to file is not cured or waived prior to such
181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay
Additional Interest following an Event of Default in accordance with this ‎Section 6.03 or the Company elected to make such
payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in ‎Section
6.02.

 

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In order to elect to pay Additional Interest
as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding
paragraph, the Company must notify all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning
of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as
provided in ‎Section 6.02.

 

Section 6.04. Payments of Notes on Default;
Suit Therefor. If an Event of Default described in clause ‎(a) or ‎(b) of ‎Section 6.01 shall have occurred, the
Company shall pay to the Trustee, for the benefit of the Holders of the Notes, the whole amount then due and payable on the Notes
for principal and interest, if any, with interest on any overdue principal and interest, if any, at the rate borne by the Notes
at such time, and, in addition thereto, such further amount as shall be sufficient to cover any amounts due to the Trustee under
‎Section 7.07. If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as
trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute
such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the Notes and
collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other
obligor upon the Notes, wherever situated.

 

In the event there shall be pending proceedings
for the bankruptcy or for the reorganization of the Company or any other obligor on the Notes under title 11 of the United States
Code, or any other applicable law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator
or similar official shall have been appointed for or taken possession of the Company or such other obligor, the property of the
Company or such other obligor, or in the event of any other judicial proceedings relative to the Company or such other obligor
upon the Notes, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the
principal of the Notes shall then be due and payable as therein expressed or by declaration or otherwise, shall be entitled and
empowered, by intervention in such proceedings or otherwise, to file and prove a claim or claims for the whole amount of principal
and accrued and unpaid interest, if any, in respect of the Notes, and, in case of any judicial proceedings, to file such proofs
of claim and other papers or documents and to take such other actions as it may deem necessary or advisable in order to have the
claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel) and of the Holders allowed in such judicial proceedings relative to the Company or any other obligor on
the Notes, its or their creditors, or its or their property, and to collect and receive any monies or other property payable or
deliverable on any such claims, and to distribute the same after the deduction of any amounts due to the Trustee under ‎Section
7.07; and any receiver, assignee or trustee in bankruptcy or reorganization, liquidator, custodian or similar official is hereby
authorized by each of the Holders to make such payments to the Trustee, as administrative expenses, and, in the event that the
Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for reasonable
compensation, expenses, advances and disbursements, including agents and counsel fees, and including any other amounts due to the
Trustee under ‎Section 7.07, incurred by it up to the date of such distribution. To the extent that such payment of reasonable
compensation, expenses, advances and disbursements out of the estate in any such proceedings shall be denied for any reason, payment
of the same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, monies, securities and
other property that the Holders of the Notes may be entitled to receive in such proceedings, whether in liquidation or under any
plan of reorganization or arrangement or otherwise.

 

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Nothing herein contained shall be deemed
to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting such Holder or the rights of any Holder thereof, or to authorize the Trustee to vote in respect
of the claim of any Holder in any such proceeding.

 

All rights of action and of asserting claims
under this Indenture, or under any of the Notes, may be enforced by the Trustee without the possession of any of the Notes, or
the production thereof at any trial or other proceeding relative thereto, and any such suit or proceeding instituted by the Trustee
shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment
of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable
benefit of the Holders of the Notes.

 

In any proceedings brought by the Trustee
(and in any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party)
the Trustee shall be held to represent all the Holders of the Notes, and it shall not be necessary to make any Holders of the Notes
parties to any such proceedings. The Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or
similar official and be a member of a creditors’ or other similar committee.

 

In case the Trustee shall have proceeded
to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of any waiver
pursuant to ‎Section 6.09 or any rescission and annulment pursuant to ‎Section 6.02 or for any other reason or shall have
been determined adversely to the Trustee, then and in every such case the Company, the Holders, and the Trustee shall, subject
to any determination in such proceeding, be restored respectively to their several positions and rights hereunder, and all rights,
remedies and powers of the Company, the Holders and the Trustee shall continue as though no such proceeding had been instituted.

 

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Section 6.05. Application of Monies Collected
by Trustee. Any monies collected by the Trustee pursuant to this ‎Article 6 with respect to the Notes and any other monies
or property distributable in respect of the Company’s obligations under this Indenture following an Event of Default specified
in ‎Section 6.01(i) or ‎Section 6.01(j) with respect to the Company shall be applied in the following order, at the date
or dates fixed by the Trustee for the distribution of such monies or property, upon presentation of the several Notes, and stamping
thereon the payment, if only partially paid, and upon surrender thereof, if fully paid:

 

First, to the payment of all amounts
due the Trustee or any predecessor Trustee under ‎Section 7.07;

 

Second, in case the principal of
the outstanding Notes shall not have become due and be unpaid, to the payment of interest on, and any cash due upon conversion
of, the Notes in default in the order of the date due of the payments of such interest and cash due upon conversion, as the case
may be, with interest (to the extent that such interest has been collected by the Trustee) upon such overdue payments at the rate
borne by the Notes at such time, such payments to be made ratably to the Persons entitled thereto;

 

Third, in case the principal of the
outstanding Notes shall have become due, by declaration or otherwise, and be unpaid to the payment of the whole amount (including,
if applicable, the payment of the Redemption Price and the Fundamental Change Repurchase Price and any cash due upon conversion)
then owing and unpaid upon the Notes for principal and interest, if any, with interest on the overdue principal and, to the extent
that such interest has been collected by the Trustee, upon overdue installments of interest at the rate borne by the Notes at such
time, and in case such monies shall be insufficient to pay in full the whole amounts so due and unpaid upon the Notes, then to
the payment of such principal (including, if applicable, the Redemption Price and the Fundamental Change Repurchase Price and the
cash due upon conversion) and interest without preference or priority of principal over interest, or of interest over principal
or of any installment of interest over any other installment of interest, or of any Note over any other Note, ratably to the aggregate
of such principal (including, if applicable, the Redemption Price and the Fundamental Change Repurchase Price and any cash due
upon conversion) and accrued and unpaid interest; and

 

Fourth, to the payment of the remainder,
if any, to the Company.

 

Section 6.06. Proceedings by Holders.
Except to enforce the right to receive payment of principal (including, if applicable, the Redemption Price and the Fundamental
Change Repurchase Price) or interest when due, or the right to receive payment or delivery of the consideration due upon conversion,
no Holder of any Note shall have any right by virtue of or by availing of any provision of this Indenture to institute any suit,
action or proceeding in equity or at law upon or under or with respect to this Indenture, or for the appointment of a receiver,
trustee, liquidator, custodian or other similar official, or for any other remedy hereunder, unless:

 

(a)           
such Holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof,
as herein provided;

 

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(b)           
Holders of at least 25% in aggregate principal amount of the Notes then outstanding shall have requested in writing that
the Trustee institute such action, suit or proceeding in its own name as Trustee hereunder;

 

(c)           
such Holders shall have offered to the Trustee such security or indemnity reasonably satisfactory to it against any loss,
liability or expense to be incurred therein or thereby;

 

(d)           
the Trustee for 60 days after its receipt of such notice, request and offer of indemnity shall have not complied with such
request; and

 

(e)           
no direction that, in the opinion of the Trustee, is inconsistent with such written request shall have been given to the
Trustee by the Holders of a majority of the aggregate principal amount of the Notes then outstanding within such 60-day period
pursuant to ‎Section 6.09,

 

it being understood and intended, and being
expressly covenanted by the taker and Holder of every Note with every other taker and Holder and the Trustee that no one or more
Holders shall have any right in any manner whatever by virtue of or by availing of any provision of this Indenture to affect, disturb
or prejudice the rights of any other Holder, or to obtain or seek to obtain priority over or preference to any other such Holder,
or to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit
of all Holders (except as otherwise provided herein). For the protection and enforcement of this ‎Section 6.06, each and every
Holder and the Trustee shall be entitled to such relief as can be given either at law or in equity.

 

Notwithstanding any other provision of this
Indenture and any provision of any Note, the right of any Holder to receive payment or delivery, as the case may be, of (x) the
principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, (y) accrued and unpaid
interest, if any, on, and (z) the consideration due upon conversion of, such Note, on or after the respective due dates expressed
or provided for in such Note or in this Indenture, or to institute suit for the enforcement of any such payment or delivery, as
the case may be, on or after such respective dates against the Company shall not be impaired or affected without the consent of
such Holder.

 

Section 6.07. Proceedings by Trustee.
In case of an Event of Default, the Trustee may in its discretion proceed to protect and enforce the rights vested in it by this
Indenture by such appropriate judicial proceedings as are necessary to protect and enforce any of such rights, either by suit in
equity or by action at law or by proceeding in bankruptcy or otherwise, whether for the specific enforcement of any covenant or
agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other
legal or equitable right vested in the Trustee by this Indenture or by law.

 

Section 6.08. Remedies Cumulative and
Continuing. Except as provided in the last paragraph of ‎Section 2.06, all powers and remedies given by this ‎Article
6 to the Trustee or to the Holders shall, to the extent permitted by law, be deemed cumulative and not exclusive of any thereof
or of any other powers and remedies available to the Trustee or the Holders of the Notes, by judicial proceedings or otherwise,
to enforce the performance or observance of the covenants and agreements contained in this Indenture, and no delay or omission
of the Trustee or of any Holder of any of the Notes to exercise any right or power accruing upon any Default or Event of Default
shall impair any such right or power, or shall be construed to be a waiver of any such Default or Event of Default or any acquiescence
therein; and, subject to the provisions of ‎Section 6.06, every power and remedy given by this ‎Article 6 or by law to
the Trustee or to the Holders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or
by the Holders.

 

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Section 6.09. Direction of Proceedings
and Waiver of Defaults by Majority of Holders. The Holders of a majority of the aggregate principal amount of the Notes at
the time outstanding determined in accordance with ‎Section 8.04 shall have the right to 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
with respect to Notes; provided, however, that (a) such direction shall not be in conflict with any rule of law or
with this Indenture, and (b) the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such
direction. The Trustee may refuse to follow any direction that it determines is unduly prejudicial to the rights of any other Holder
(it being understood that the Trustee does not have an affirmative duty to ascertain whether or not such directions are unduly
prejudicial to such Holder) or that would involve the Trustee in personal liability. The Holders of a majority in aggregate principal
amount of the Notes at the time outstanding determined in accordance with ‎Section 8.04 may on behalf of the Holders of all
of the Notes waive any past Default or Event of Default hereunder and its consequences, including, but not limited to, acceleration,
except (i) a default in the payment of accrued and unpaid interest, if any, on, or the principal (including any Redemption Price
and Fundamental Change Repurchase Price) of, the Notes when due that has not been cured pursuant to the provisions of ‎Section
6.01, (ii) a failure by the Company to pay or deliver the consideration due upon conversion of the Notes or (iii) a default in
respect of a covenant or provision hereof which under ‎Article 10 cannot be modified or amended without the consent of each
Holder of an outstanding Note affected. Upon any such waiver the Company, the Trustee and the Holders of the Notes shall be restored
to their former positions and rights hereunder; but no such waiver shall extend to any subsequent or other Default or Event of
Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted
by this ‎Section 6.09, said Default or Event of Default shall for all purposes of the Notes and this Indenture be deemed to
have been cured and to be not continuing; but no such waiver shall extend to any subsequent or other Default or Event of Default
or impair any right consequent thereon.

 

Section 6.10. Notice of Defaults.
The Trustee shall, within 90 days after the occurrence and continuance of a Default of which a Responsible Officer has actual knowledge
or within a reasonable time after the Trustee obtains the knowledge thereof, if later, mail or deliver electronically to all Holders
as the names and addresses of such Holders appear upon the Note Register, notice of all Defaults known to a Responsible Officer,
unless such Defaults shall have been cured or waived before the giving of such notice; provided that, except in the case
of a Default in the payment of the principal of (including the Redemption Price and the Fundamental Change Repurchase Price, if
applicable), or accrued and unpaid interest on, any of the Notes or a Default in the payment or delivery of the consideration due
upon conversion, the Trustee shall be protected in withholding such notice if and so long as it in good faith determines that the
withholding of such notice is in the interests of the Holders.

 

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Section 6.11. Undertaking to Pay Costs.
All parties to this Indenture agree, and each Holder of any Note by its acceptance thereof shall be deemed to have agreed, that
any court may, in its discretion, require, 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, the filing by any party litigant in such suit of an
undertaking to pay the costs of such suit and that such court may in its discretion assess reasonable costs, including reasonable
attorneys’ fees and expenses, against any party litigant in such suit, having due regard to the merits and good faith of
the claims or defenses made by such party litigant; provided that the provisions of this ‎Section 6.11 (to the extent
permitted by law) shall not apply to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders,
holding in the aggregate more than 10% in principal amount of the Notes at the time outstanding determined in accordance with ‎Section
8.04, or to any suit instituted by any Holder for the enforcement of the payment of the principal of or accrued and unpaid interest,
if any, on any Note (including, but not limited to, the Redemption Price and the Fundamental Change Repurchase Price with respect
to the Notes being redeemed or repurchased as provided in this Indenture) on or after the due date expressed or provided for in
such Note or to any suit for the enforcement of the right to convert any Note in accordance with the provisions of ‎Article
14.

 

Article
7

Concerning the Trustee

 

Section 7.01. Duties and Responsibilities
of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing or waiver of all Events of Default
that may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture.
In the event an Event of Default has occurred, is continuing and is known to a Responsible Officer, 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 its exercise, as a prudent
person would exercise or use under the circumstances in the conduct of such person’s own affairs under the circumstances.

 

No provision of this Indenture shall be
construed to relieve the Trustee from liability for its own grossly negligent action, its own grossly negligent failure to act
or its own willful misconduct, except that:

 

(a)           
prior to the occurrence of an Event of Default and after the curing or waiving of all Events of Default that may have occurred:

 

(i)           
the duties and obligations of the Trustee shall be determined solely by the express provisions of this Indenture, and the
Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Indenture
and no implied covenants or obligations shall be read into this Indenture against the Trustee; and

 

(ii)           
in the absence of bad faith or willful misconduct on the part of the Trustee, the Trustee may conclusively rely, as to the
truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the
Trustee and conforming to the requirements of this Indenture; but, in the case of any such certificates or opinions that by any
provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same
to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy
of any mathematical calculations or other facts stated therein);

 

    41

     

    

 

(b)           
the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Officers of the
Trustee, unless it shall be proved that the Trustee was grossly negligent in ascertaining the pertinent facts;

 

(c)           
the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance
with the direction of the Holders of not less than a majority of the aggregate principal amount of the Notes at the time outstanding
determined as provided in ‎Section 8.04 relating to the time, method and place of conducting any proceeding for any remedy
available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture;

 

(d)           
whether or not therein provided, 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 Section;

 

(e)           
the Trustee shall not be liable in respect of any payment (as to the correctness of amount, entitlement to receive or any
other matters relating to payment) or notice effected by the Company or any Paying Agent or any records maintained by any co-Note
Registrar with respect to the Notes;

 

(f)           
if any party fails to deliver a notice relating to an event the fact of which, pursuant to this Indenture, requires notice
to be sent to the Trustee, the Trustee may conclusively rely on its failure to receive such notice as reason to act as if no such
event occurred, unless a Responsible Officer of the Trustee had actual knowledge of such event;

 

(g)           
in the absence of written investment direction from the Company, all cash received by the Trustee shall be placed in a non-interest
bearing trust account, and in no event shall the Trustee be liable for the selection of investments or for investment losses incurred
thereon or for losses incurred as a result of the liquidation of any such investment prior to its maturity date or the failure
of the party directing such investments prior to its maturity date or the failure of the party directing such investment to provide
timely written investment direction, and the Trustee shall have no obligation to invest or reinvest any amounts held hereunder
in the absence of such written investment direction from the Company; and

 

(h)           
in the event that the Trustee is also acting as Custodian, Note Registrar, Paying Agent, Conversion Agent, Bid Solicitation
Agent or transfer agent hereunder, the rights and protections afforded to the Trustee pursuant to this ‎Article 7 shall also
be afforded to such Custodian, Note Registrar, Paying Agent, Conversion Agent, Bid Solicitation Agent or transfer agent.

 

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None of the provisions contained in this
Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal financial liability in the performance
of any of its duties or in the exercise of any of its rights or powers. The Trustee shall not be required to give any bond or surety
in respect of the performance of its powers or duties hereunder.

 

Section 7.02. Reliance on Documents,
Opinions, Etc. Except as otherwise provided in ‎Section 7.01:

 

(a)           
the Trustee may conclusively rely and shall be fully protected in acting upon any resolution, certificate, statement, instrument,
opinion, report, notice, request, consent, order, bond, Note, coupon or other paper or document believed by it in good faith to
be genuine and to have been signed or presented by the proper party or parties;

 

(b)           
any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by an Officer’s
Certificate (unless other evidence in respect thereof be herein specifically prescribed); and any Board Resolution may be evidenced
to the Trustee by a copy thereof certified by the Secretary or an Assistant Secretary of the Company;

 

(c)           
the Trustee may consult with counsel and may require an Officer’s Certificate and Opinion of Counsel and any advice
of such counsel, Officer’s Certificate and Opinion of Counsel shall be full and complete authorization and protection in
respect of any action taken or omitted by it hereunder in good faith and in accordance with such advice or Officer’s Certificate
or Opinion of Counsel;

 

(d)           
the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document,
but the Trustee, in its discretion, may 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 expense of the Company and shall incur no liability of any
kind by reason of such inquiry or investigation;

 

(e)           
the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through
agents, custodians, nominees or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part
of any agent, custodian, nominee or attorney appointed by it with due care hereunder; and

 

(f)           
the permissive rights of the Trustee enumerated herein shall not be construed as duties.

 

The Trustee may request that the Company
deliver an Officer’s Certificate setting forth the names of individuals and/or titles of officers authorized at such time
to take specified actions pursuant to this Indenture. The Trustee will be under no obligation to exercise any of the rights or
powers under this Indenture 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 the losses, expenses and liabilities that might be incurred by it in
compliance with such request or direction. In no event shall the Trustee be liable for any special, indirect, punitive or consequential
loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Trustee has been advised of the
likelihood of such loss or damage and regardless of the form of action other than any such loss or damage caused by the Trustee’s
willful misconduct or gross negligence. The Trustee shall not be charged with knowledge of any Default or Event of Default with
respect to the Notes, unless either (1) a Responsible Officer shall have actual knowledge of such Default or Event of Default or
(2) written notice of such Default or Event of Default shall have been given to the Trustee by the Company or by any Holder of
the Notes.

 

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Section 7.03. No Responsibility for Recitals,
Etc. The recitals contained herein and in the Notes (except in the Trustee’s certificate of authentication) shall be
taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee
makes no representations as to the validity or sufficiency of this Indenture or of the Notes or of the Common Stock. The Trustee
shall not be accountable for the use or application by the Company of any Notes or the proceeds of any Notes authenticated and
delivered by the Trustee in conformity with the provisions of this Indenture. Neither the Trustee nor the Paying Agent will be
accountable for the use or application by the Company of the Notes or the proceeds thereof, or for any funds received and disbursed
in accordance with this Indenture. The Trustee shall have no responsibility or liability with respect to any information, statement
or recital in the Offering Memorandum or other disclosure material prepared or distributed with respect to the issuance of the
Notes

 

Section 7.04. No Obligation to Monitor.
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 or beneficial owners of interests in any Global Notes or for actions taken or omitted
to be taken by the Depositary) 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.

 

Section 7.05. Trustee, Paying Agents,
Conversion Agents, Bid Solicitation Agent or Note Registrar May Own Notes. The Trustee, any Paying Agent, any Conversion Agent,
Bid Solicitation Agent or Note Registrar, in its individual or any other capacity, may become the owner or pledgee of Notes and
may transact business with the Company with the same rights it would have if it were not the Trustee, Paying Agent, Conversion
Agent, Bid Solicitation Agent or Note Registrar.

 

Section 7.06. Monies and Shares of Common
Stock to Be Held in Trust. All monies and shares of Common Stock received by the Trustee shall, until used or applied as herein
provided, be held in trust for the purposes for which they were received. Money and shares of Common Stock held by the Trustee
in trust hereunder need not be segregated from other funds or property except to the extent required by law. The Trustee shall
be under no liability for interest on any money or shares of Common Stock received by it hereunder except as may be agreed from
time to time by the Company and the Trustee.

 

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Section 7.07. Compensation and Expenses
of Trustee. The Company covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be entitled to,
reasonable compensation for all services rendered by it hereunder in any capacity (which shall not be limited by any provision
of law in regard to the compensation of a trustee of an express trust) as mutually agreed to in writing between the Trustee and
the Company, and the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and
advances reasonably incurred or made by the Trustee in accordance with any of the provisions of this Indenture in any capacity
thereunder (including the reasonable compensation and the expenses and disbursements of its agents and counsel and of all Persons
not regularly in its employ) except any such expense, disbursement or advance as shall have been caused by its gross negligence,
willful misconduct or bad faith, as determined by a final, non-appealable decision of a court of competent jurisdiction. The Company
also covenants to indemnify the Trustee in any capacity under this Indenture and any other document or transaction entered into
in connection herewith and its agents and any authenticating agent for, and to hold them harmless against, any loss, claim, damage,
liability or expense incurred without gross negligence, willful misconduct or bad faith on the part of the Trustee, its officers,
directors, agents or employees, or such agent or authenticating agent, as the case may be, as determined by a final, non-appealable
decision of a court of competent jurisdiction, and arising out of or in connection with the acceptance or administration of this
Indenture or in any other capacity hereunder, including the costs and expenses of defending themselves against any claim of liability
in the premises, whether asserted by the Company, any Holder or any other Person, or liability in connection with the exercise
or performance of any of its powers or duties hereunder or in connection with enforcing the provisions of this Section. The obligations
of the Company under this ‎Section 7.07 to compensate or indemnify the Trustee and to pay or reimburse the Trustee for expenses,
disbursements and advances shall be secured by a senior claim to which the Notes are hereby made subordinate on all money or property
held or collected by the Trustee, except, subject to the effect of ‎Section 6.05, funds held in trust herewith for the benefit
of the Holders of particular Notes. The Trustee’s right to receive payment of any amounts due under this ‎Section 7.07
shall not be subordinate to any other liability or indebtedness of the Company. The obligation of the Company under this ‎Section
7.07 shall survive the satisfaction and discharge of this Indenture and the earlier resignation or removal or the Trustee. The
Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld. The indemnification
provided in this ‎Section 7.07 shall extend to the officers, directors, agents and employees of the Trustee.

 

Without prejudice to any other rights available
to the Trustee under applicable law, when the Trustee and its agents and any authenticating agent incur expenses or render services
after an Event of Default specified in ‎Section 6.01(i) or ‎Section
6.01(j) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration
under any bankruptcy, insolvency or similar laws.

 

The provisions of this ‎Section 7.07
shall survive the satisfaction and discharge or termination of this Indenture and the resignation or removal of the Trustee. “Trustee”
for the purposes of this ‎Section 7.07 shall include any predecessor Trustee and the Trustee in each of its capacities hereunder
and each agent, custodian and other person employed to act hereunder; provided, however, that the gross negligence, willful
misconduct or bad faith of any Trustee hereunder shall not affect the rights of any other Trustee hereunder.

 

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Section 7.08. Officer’s Certificate
as Evidence. Except as otherwise provided in ‎Section 7.01, whenever in the administration of the provisions of this Indenture
the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or omitting any action
hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of gross
negligence, willful misconduct, recklessness and bad faith on the part of the Trustee, be deemed to be conclusively proved and
established by an Officer’s Certificate delivered to the Trustee, and such Officer’s Certificate, in the absence of
gross negligence, willful misconduct, recklessness and bad faith on the part of the Trustee, shall be full warrant to the Trustee
for any action taken or omitted by it under the provisions of this Indenture upon the faith thereof.

 

Section 7.09. Eligibility of Trustee.
There shall at all times be a Trustee hereunder which shall be a Person that is eligible pursuant to the Trust Indenture Act to
act as such and has 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 hereinafter specified in this Article.

 

Section 7.10. Resignation or Removal
of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing
notice thereof to the Holders at their addresses as they shall appear on the Note 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 60 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, subject to the provisions of ‎Section 6.11, 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 7.09 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, subject to
the provisions of ‎Section 6.11, 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, as determined in accordance
with ‎Section 8.04, may at any time remove the Trustee by so notifying the Trustee and the Company in writing not less than
30 days prior to the effective date of such removal 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 in ‎Section 7.10(a) provided, 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 7.10 shall become effective upon acceptance of appointment by the successor trustee as provided in ‎Section 7.11.

 

Section 7.11. Acceptance by Successor
Trustee. Any successor trustee appointed as provided in ‎Section 7.10 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 7.07, 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 senior claim to which
the Notes are hereby made subordinate on all money or property held or collected by such trustee as such, except for funds held
in trust for the benefit of Holders of particular Notes, to secure any amounts then due it pursuant to the provisions of ‎Section
7.07.

 

No successor trustee shall accept appointment
as provided in this ‎Section 7.11 unless at the time of such acceptance such successor trustee shall be eligible under the
provisions of ‎Section 7.09.

 

Upon acceptance of appointment by a successor
trustee as provided in this ‎Section 7.11, 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 Note 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.

 

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Section 7.12. Succession by Merger, Etc.
Any corporation or other entity into which the Trustee may be merged or converted or with which it may be consolidated, or any
corporation or other entity resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any
corporation or other entity succeeding to all or substantially all of the corporate trust business of the Trustee (including the
administration of this Indenture), shall be the successor to the Trustee hereunder without the execution or filing of any paper
or any further act on the part of any of the parties hereto; provided that in the case of any corporation or other entity
succeeding to all or substantially all of the corporate trust business of the Trustee such corporation or other entity shall be
eligible under the provisions of ‎Section 7.09.

 

In case at the time such successor 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 or authenticating agent
appointed by such predecessor trustee, and deliver such Notes so authenticated; and in case at that time any of the Notes shall
not have been authenticated, any successor to the Trustee or an authenticating agent appointed by such successor trustee may authenticate
such Notes either in the name of any predecessor trustee hereunder or in the name of the successor trustee; and in all such cases
such certificates shall have the full force which it is anywhere in the Notes or in this Indenture provided that the certificate
of the Trustee shall have; provided, however, that the right to adopt the certificate of authentication of any predecessor
trustee or to authenticate Notes in the name of any predecessor trustee shall apply only to its successor or successors by merger,
conversion or consolidation.

 

Section 7.13. Trustee’s Application
for Instructions from the Company. Any application by the Trustee for written instructions from the Company (other than with
regard to any action proposed to be taken or omitted to be taken by the Trustee that affects the rights of the Holders of the Notes
under this Indenture) 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 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 that the Company is deemed to receive such application, unless the Company 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 accordance with this Indenture in response to such application specifying the action to be taken or omitted.

 

Article
8

Concerning the Holders

 

Section 8.01. Action by Holders.
Whenever in this Indenture it is provided that the Holders of a specified percentage of the aggregate principal amount of the Notes
may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of
any other action), the fact that at the time of taking any such action, the Holders of such specified percentage have joined therein
may be evidenced (a) by any instrument or any number of instruments of similar tenor executed by Holders in person or by agent
or proxy appointed in writing, or (b) by the record of the Holders voting in favor thereof at any meeting of Holders duly called
and held in accordance with the provisions of ‎Article 9, or (c) by a combination of such instrument or instruments and any
such record of such a meeting of Holders. Whenever the Company or the Trustee solicits the taking of any action by the Holders
of the Notes, the Company or the Trustee may fix, but shall not be required to, in advance of such solicitation, a date as the
record date for determining Holders entitled to take such action. The record date if one is selected shall be not more than fifteen
days prior to the date of commencement of solicitation of such action.

 

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Section 8.02. Proof of Execution by Holders.
Subject to the provisions of ‎Section 7.01, ‎Section 7.02
and ‎Section 9.05, proof of the execution of any instrument
by a Holder or its agent or proxy shall be sufficient if made in accordance with such reasonable rules and regulations as may be
prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee. The holding of Notes shall be proved by the
Note Register or by a certificate of the Note Registrar. The record of any Holders’ meeting shall be proved in the manner
provided in ‎Section 9.06.

 

Section 8.03. Who Are Deemed Absolute
Owners. The Company, the Trustee, any authenticating agent, any Paying Agent, any Conversion Agent and any Note Registrar may
deem the Person in whose name a Note shall be registered upon the Note Register to be, and may treat it as, the absolute owner
of such Note (whether or not such Note shall be overdue and notwithstanding any notation of ownership or other writing thereon
made by any Person other than the Company or any Note Registrar) for the purpose of receiving payment of or on account of the principal
of and (subject to ‎Section 2.03) accrued and unpaid interest on such Note, for conversion of such Note and for all other purposes;
and neither the Company nor the Trustee nor any Paying Agent nor any Conversion Agent nor any Note Registrar shall be affected
by any notice to the contrary. The sole registered holder of a Global Note shall be the Depositary or its nominee. All such payments
or deliveries so made to any Holder for the time being, or upon its order, shall be valid, and, to the extent of the sums or shares
of Common Stock so paid or delivered, effectual to satisfy and discharge the liability for monies payable or shares deliverable
upon any such Note. Notwithstanding anything to the contrary in this Indenture or the Notes following an Event of Default, any
Holder of a beneficial interest in 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 Holder’s right to exchange such beneficial
interest for a Note in certificated form in accordance with the provisions of this Indenture.

 

Section 8.04. Company-Owned Notes Disregarded.
In determining whether the Holders of the requisite aggregate principal amount of Notes have concurred in any direction, consent,
waiver or other action under this Indenture, 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 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 Responsible
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 8.04 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 or a Person directly or indirectly controlling
or controlled by or under direct or indirect common control with the Company. 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 7.01, 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 8.05. Revocation of Consents;
Future Holders Bound. At any time prior to (but not after) the evidencing to the Trustee, as provided in ‎Section 8.01,
of the taking of any action by the Holders of the percentage of the aggregate principal amount of the Notes specified in this Indenture
in connection with such action, any Holder of a Note that is shown by the evidence to be included in the Notes the Holders of which
have consented to such action may, by filing written notice with the Trustee at its Corporate Trust Office and upon proof of holding
as provided in ‎Section 8.02, revoke such action so far as concerns such Note. Except as aforesaid, any such action taken by
the Holder of any Note shall be conclusive and binding upon such Holder and upon all future Holders and owners of such Note and
of any Notes issued in exchange or substitution therefor or upon registration of transfer thereof, irrespective of whether any
notation in regard thereto is made upon such Note or any Note issued in exchange or substitution therefor or upon registration
of transfer thereof.

 

Article
9

Holders’ Meetings

 

Section 9.01. 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 9 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 and its consequences, or to take any other action authorized
to be taken by Holders pursuant to any of the provisions of ‎Article 6;

 

(b)           
to remove the Trustee and nominate a successor trustee pursuant to the provisions of ‎Article 7;

 

(c)           
to consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions of ‎Section
10.02; 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.

 

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Section 9.02. Call of Meetings by Trustee.
The Trustee may at any time call a meeting of Holders to take any action specified in ‎Section 9.01, 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 8.01, shall be mailed to Holders of such Notes at their addresses as they shall appear on the Note Register. Such
notice shall also be mailed to the Company. Such notices shall be mailed not less than twenty nor more than ninety days prior to
the date fixed for the meeting.

 

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 9.03. 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 9.01, by mailing notice thereof as provided
in ‎Section 9.02.

 

Section 9.04. 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 9.05. 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 9.03, 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
8.04, at any meeting of Holders each Holder or proxy holder 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 provisions of ‎Section
9.02 or ‎Section 9.03 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.

 

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Section 9.06. 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 9.02. 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 9.07. No Delay of Rights by Meeting.
Nothing contained in this ‎Article 9 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
10

Supplemental Indentures

 

Section 10.01. Supplemental Indentures
Without Consent of Holders. The Company, when authorized by resolutions of the Board of Directors and the Trustee, at the Company’s
expense, may from time to time and at any time enter into an indenture or indentures supplemental hereto for one or more of the
following purposes:

 

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

 

(b)           
to provide for the assumption by a Successor Company of the obligations of the Company under this Indenture and the Notes
pursuant to ‎Article 11;

 

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(c)           
to add guarantees with respect to the Notes;

 

(d)           
to secure the Notes;

 

(e)           
to add to the covenants for the benefit of the Holders or surrender any right or power conferred upon the Company;

 

(f)            
to provide for an adjustment to the Conversion Rate of the Notes as required or permitted by ‎Article 14;

 

(g)           
to evidence any change in the Trustee as permitted by ‎Article 7;

 

(h)           
to reflect the issuance of additional Notes as permitted by ‎Section 2.10;

 

(i)            
to make any change that does not adversely affect the rights of any Holder (as determined by the Company in good faith and
evidenced by an Officer’s Certificate);

 

(j)            
in connection with any Share Exchange Event, to provide that the Notes are convertible into Reference Property (subject
to Section 14.02) and to make certain related changes to the terms of the Notes to the extent expressly required by this Indenture
(as determined by the Company in good faith and evidenced by an Officer’s Certificate); or

 

(k)           
to conform the provisions of this Indenture or the Notes to the “Description of notes” section of the Offering
Memorandum (as determined by the Company in good faith and evidenced by an Officer’s Certificate).

 

Upon the written request of the Company,
and subject to ‎Section 10.05, the Trustee is hereby authorized to, and shall, join with the Company in the execution of any
such supplemental indenture, to make any further appropriate agreements and stipulations that may be therein contained, but the
Trustee shall not be obligated to, but may in its discretion, enter into any supplemental indenture that affects the Trustee’s
own rights, duties or immunities under this Indenture or otherwise.

 

Any supplemental indenture authorized by
the provisions of this ‎Section 10.01 may be executed by the Company and the Trustee without the consent of the Holders of
any of the Notes at the time outstanding, notwithstanding any of the provisions of ‎Section 10.02.

 

Section 10.02. Supplemental Indentures
with Consent of Holders. With the consent (evidenced as provided in ‎Article 8) of the Holders of at least a majority of
the aggregate principal amount of the Notes then outstanding (determined in accordance with ‎Article 8 and including, without
limitation, consents obtained in connection with a repurchase of, or tender or exchange offer for, Notes), the Company, when authorized
by the resolutions of the Board of Directors and the Trustee, at the Company’s expense, may from time to time and at any
time enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of this Indenture or any supplemental indenture or of modifying in any manner the rights of
the Holders; provided, however, that, without the consent of each Holder of an outstanding Note affected, no such
supplemental indenture shall:

 

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(a)           
reduce the amount of Notes whose Holders must consent to an amendment;

 

(b)           
reduce the rate of or extend the stated time for payment of interest on any Note;

 

(c)           
reduce the principal of or extend the Maturity Date of any Note;

 

(d)           
make any change that adversely affects the conversion rights of any Notes;

 

(e)           
reduce the Redemption Price or the Fundamental Change Repurchase Price of any Note or amend or modify in any manner adverse
to the Holders the Company’s obligation to make such payments, whether through an amendment or waiver of provisions in the
covenants, definitions or otherwise;

 

(f)            
make any Note payable in a currency other than that stated in the Note;

 

(g)           
change the ranking of the Notes in any manner adverse to Holders;

 

(h)           
impair the right of any Holder to receive payment of principal 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 Note; or

 

(i)            
make any change in this ‎Article 10 that requires each Holder’s consent or in the waiver provisions in ‎Section
6.02 or ‎Section 6.09.

 

Upon the written request of the Company,
and upon the filing with the Trustee of evidence of the consent of Holders as aforesaid and subject to ‎Section 10.05, the
Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects
the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion,
but shall not be obligated to, enter into such supplemental indenture.

 

Holders do not need under this ‎Section
10.02 to approve the particular form of any proposed supplemental indenture. It shall be sufficient if such Holders approve the
substance thereof. After any such supplemental indenture becomes effective, the Company shall mail to the Holders a notice briefly
describing such supplemental indenture. However, the failure to give such notice to all the Holders, or any defect in the notice,
will not impair or affect the validity of the supplemental indenture.

 

Section 10.03. Effect of Supplemental
Indentures. Upon the execution of any supplemental indenture pursuant to the provisions of this ‎Article 10, this Indenture
shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitation of rights, obligations,
duties and immunities under this Indenture of the Trustee, the Company and the Holders shall thereafter be determined, exercised
and enforced hereunder subject in all respects to such modifications and amendments and all the terms and conditions of any such
supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes.

 

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Section 10.04. Notation on Notes.
Notes authenticated and delivered after the execution of any supplemental indenture pursuant to the provisions of this ‎Article
10 may, at the Company’s expense, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental
indenture. If the Company or the Trustee shall so determine, new Notes so modified as to conform, in the opinion of the Trustee
and the Board of Directors, to any modification of this Indenture contained in any such supplemental indenture may, at the Company’s
expense, be prepared and executed by the Company, authenticated by the Trustee (or an authenticating agent duly appointed by the
Trustee pursuant to ‎Section 17.11) and delivered in exchange for the Notes then outstanding, upon surrender of such Notes
then outstanding.

 

Section 10.05. Evidence of Compliance
of Supplemental Indenture to Be Furnished Trustee. In addition to the documents required by ‎Section 17.05 and
‎Section 17.06, the Trustee shall receive an Officer’s
Certificate and an Opinion of Counsel that the Trustee shall be fully protected in relying upon as conclusive evidence that any
supplemental indenture executed pursuant hereto complies with the requirements of this ‎Article 10,
is permitted or authorized by the Indenture and is the valid and binding obligation of the Company enforceable against the Company
in accordance with its terms, subject to usual and customary limitations and qualifications for such an opinion.

 

Article
11

Consolidation, Merger, Sale, Conveyance and Lease

 

Section 11.01. Company May Consolidate,
Etc. on Certain Terms. Subject to the provisions of ‎Section 11.02, the Company shall not consolidate with or merge with
or into, or sell, convey, transfer or lease all or substantially all of its properties and assets to another Person, unless:

 

(a)           
the resulting, surviving or transferee Person (the “Successor Company”), if not the Company, shall be
a corporation organized and existing under the laws of the United States of America, any State thereof or the District of Columbia,
and the Successor Company (if not the Company) shall expressly assume, by supplemental indenture all of the obligations of the
Company under the Notes and this Indenture; and

 

(b)           
immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing
under this Indenture.

 

For purposes of this ‎Section 11.01,
the sale, conveyance, transfer or lease of all or substantially all of the properties and assets of one or more Subsidiaries of
the Company to another Person, which properties and assets, if held by the Company instead of such Subsidiaries, would constitute
all or substantially all of the properties and assets of the Company on a consolidated basis, shall be deemed to be the sale, conveyance,
transfer or lease of all or substantially all of the properties and assets of the Company to another Person.

 

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Section 11.02. Successor Corporation
to Be Substituted. In case of any such consolidation, merger, sale, conveyance, transfer or lease and upon 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 and accrued and unpaid interest 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 (if not the 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,
except in the case of a lease of all or substantially all of the Company’s properties and assets. Such Successor Company
thereupon may cause to be signed, and may issue either in its own name or in the name of the Company 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 previously shall have
been signed and delivered by the Officers of the Company to the Trustee for authentication, and 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. In the event of any such
consolidation, merger, sale, conveyance or transfer (but not in the case of a lease), upon compliance with this ‎Article 11
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 11)
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 and the Notes.

 

In case of any such consolidation, merger,
sale, conveyance, transfer or lease, such changes in phraseology and form (but not in substance) may be made in the Notes thereafter
to be issued as may be appropriate.

 

Section 11.03. Opinion of Counsel to
Be Given to Trustee. No consolidation, merger, sale, conveyance, transfer or lease shall be effective unless the Trustee shall
receive an Officer’s Certificate and an Opinion of Counsel as conclusive evidence that any such consolidation, merger, sale,
conveyance, transfer or lease and any such assumption and, if a supplemental indenture is required in connection with such transaction,
such supplemental indenture, complies with the provisions of this ‎Article 11.

 

Article
12

Immunity of Incorporators, Stockholders, Officers and Directors

 

Section 12.01. Indenture and Notes Solely
Corporate Obligations. No recourse for the payment of the principal of or accrued and unpaid interest on any Note, nor for
any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of
the Company in this Indenture or in any supplemental indenture or in any Note, nor because of the creation of any indebtedness
represented thereby, shall be had against any incorporator, stockholder, employee, agent, Officer or director or Subsidiary, as
such, past, present or future, of the Company or of any successor corporation, either directly or through the Company or any successor
corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty
or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of,
and as a consideration for, the execution of this Indenture and the issue of the Notes.

 

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Article
13

[Intentionally Omitted]

 

Article
14

Conversion of Notes

 

Section 14.01. Conversion Privilege.
(a) Subject to and upon compliance with the provisions of this ‎Article 14, each Holder of a Note shall have the right, at
such Holder’s option, to convert all or any portion (if the portion to be converted is $1,000 principal amount or an integral
multiple in excess thereof) of such Note (i) subject to satisfaction of the conditions described in ‎Section 14.01(b), at any
time prior to the close of business on the Business Day immediately preceding March 15, 2026 under the circumstances and during
the periods set forth in ‎Section 14.01(b), and (ii) irrespective of the conditions described in ‎Section 14.01(b), on
or after March 15, 2026 and prior to close of business on the Business Day immediately preceding the Maturity Date, in each case,
at an initial conversion rate of 19.0404 shares of Common Stock (subject to adjustment as provided in this ‎Article 14,
the “Conversion Rate”) per $1,000 principal amount of Notes (subject to, and in accordance with the settlement
provisions of ‎Section 14.02, the “Conversion Obligation”).

 

(b)           
(i) Prior to the close of business on the Business Day immediately preceding March 15, 2026, a Holder may surrender all
or any portion of its Notes for conversion at any time during the five Business Day period immediately after any five consecutive
Trading Day period (the “Measurement Period”) in which the Trading Price per $1,000 principal amount of Notes,
as determined following a request by a Holder of Notes in accordance with this subsection (b)(i), for each Trading Day of the Measurement
Period was less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on each such
Trading Day. The Trading Prices shall be determined by the Bid Solicitation Agent pursuant to this subsection (b)(i) and the definition
of Trading Price set forth in this Indenture. The Company shall provide written notice to the Bid Solicitation Agent (if other
than the Company) of the three independent nationally recognized securities dealers selected by the Company pursuant to the definition
of Trading Price, along with appropriate contact information for each. The Bid Solicitation Agent (if other than the Company) shall
have no obligation to determine the Trading Price per $1,000 principal amount of Notes unless the Company has requested such determination,
and the Company shall have no obligation to make such request (or, if the Company is acting as Bid Solicitation Agent, the Company
shall have no obligation to determine the Trading Price) unless a Holder provides the Company with reasonable evidence that the
Trading Price per $1,000 principal amount of Notes would be less than 98% of the product of the Last Reported Sale Price of the
Common Stock and the Conversion Rate for each Trading Day during the Measurement Period. At such time, the Company shall instruct
the Bid Solicitation Agent (if other than the Company) to determine, or if the Company is acting as Bid Solicitation Agent, the
Company shall determine, the Trading Price per $1,000 principal amount of Notes beginning on the next Trading Day and on each successive
Trading Day until the Trading Price per Note is greater than or equal to 98% of the product of the Last Reported Sale Price of
the Common Stock and the Conversion Rate. At such time as the Company directs the Bid Solicitation Agent in writing to solicit
bid quotations, the Company shall provide the Bid Solicitation Agent with the names and contact details of the three independent
nationally recognized securities dealers the Company selects, and the Company shall direct those security dealers to provide bids
to the bid solicitation agent. If (x) the Company is not acting as Bid Solicitation Agent, and the Company does not instruct the
Bid Solicitation Agent to determine the Trading Price per $1,000 principal amount of Notes when obligated as provided in the preceding
sentence, or if the Company instructs the Bid Solicitation Agent to obtain bids and the Bid Solicitation Agent fails to make such
determination, or (y) the Company is acting as Bid Solicitation Agent and the Company fails to make such determination when obligated
as provided in the preceding sentence, then, in either case, the Trading Price per $1,000 principal amount of Notes shall be deemed
to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on each Trading
Day of such failure. If the Trading Price condition set forth above has been met, the Company shall so notify the Holders, the
Trustee and the Conversion Agent (if other than the Trustee) in writing. If, at any time after the Trading Price condition set
forth above has been met, the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product
of the Last Reported Sale Price of the Common Stock and the applicable Conversion Rate, the Company shall so notify the Holders
of the Notes, the Trustee and the Conversion Agent (if other than the Trustee) in writing.

 

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(ii)           
If, prior to the close of business on the Business Day immediately preceding March 15, 2026, the Company elects to:

 

(A)            
issue to all or substantially all holders of its Common Stock any rights, options or warrants (other than in connection
with a stockholder rights plan unless the rights have separated from the Common Stock) entitling them, for a period of not more
than 45 calendar days after the announcement date of such issuance, to subscribe for or purchase shares of its Common Stock at
a price per share that is less than the average of the Last Reported Sale Prices of the Common Stock for the 10 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 its Common Stock the Company’s assets, securities (other than the
Common Stock) 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 Last Reported Sale Price of the Common Stock on the Trading Day preceding the date
of announcement for such distribution,

 

then, in either case, the Company shall notify all Holders of
the Notes, the Trustee and the Conversion Agent (if other than the Trustee) in writing at least 35 Scheduled Trading Days prior
to the Ex-Dividend Date for such issuance or distribution. Once the Company has given such notice, the Notes may be surrendered
for conversion at any time until the earlier of (1) the close of business on the Business Day immediately preceding the Ex-Dividend
Date for such issuance or distribution and (2) the Company’s announcement that such issuance or distribution will not take
place, even if the Notes are not otherwise convertible at such time. Notwithstanding the two immediately preceding sentences, Holders
of the Notes will not be permitted to so surrender their Notes for conversion if such Holders are entitled to participate (solely
as a result of holding the Notes), at the same time and upon the same terms as holders of the Common Stock, in such issuance or
distribution without having to convert their Notes as if they held a number of shares of Common Stock equal to the Conversion Rate,
multiplied by the principal amount (expressed in thousands) of Notes held by such Holder.

 

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(iii)           
If a transaction or event that constitutes a Fundamental Change or a Make-Whole Fundamental Change occurs prior to the close
of business on the Business Day immediately preceding March 15, 2026, regardless of whether a Holder has the right to require the
Company to repurchase the Notes pursuant to ‎Section 15.02, or if the Company is a party to a Share Exchange Event, the Notes
may be surrendered for conversion at any time from or after the date that is 35 Scheduled Trading Days prior to the anticipated
effective date of the transaction or event (or, if later, the Business Day after the Company gives notice of such transaction or
event) until 35 Trading Days after the actual effective date of such transaction or event or, if such transaction or event also
constitutes a Fundamental Change, until the related Fundamental Change Repurchase Date. The Company shall notify Holders, the Trustee
and the Conversion Agent (if other than the Trustee) by mail or electronic delivery (i) as promptly as practicable following the
date the Company publicly announces such transaction or event but in no event less than 35 Scheduled Trading Days prior to the
anticipated effective date of such transaction or event or (ii) if the Company does not have knowledge of such transaction or event
or, in the case of any merger, consolidation, binding share exchange or transfer or lease of all or substantially all of the Company’s
assets, the Company has not entered into a Definitive Agreement with respect to such transaction to which the Company is a party,
in each case, at least 35 Scheduled Trading Days prior to the anticipated effective date of such transaction or event, within one
Business Day of the date upon which the Company receives notice, or otherwise becomes aware of, or (in the case of any merger,
consolidation, binding share exchange or transfer or lease of all or substantially all of the Company’s assets) enter into
a Definitive Agreement with respect to, such transaction or event, but in no event later than the actual effective date of such
transaction or event.

 

(iv)           
Prior to the close of business on the Business Day immediately preceding March 15, 2026, the Notes may be surrendered for
conversion at any time during any calendar quarter commencing on or after December 31, 2019 (and only during such calendar quarter),
if the Last Reported Sale Price of the Common Stock for at least 20 Trading Days (whether or not consecutive) during the period
of 30 consecutive Trading Days ending on, and including, the last Trading Day of the immediately preceding calendar quarter is
greater than or equal to 130% of the Conversion Price on each applicable Trading Day. The Company shall determine at the beginning
of each calendar quarter commencing on or after December 31, 2019 whether the Notes may be surrendered for conversion in accordance
with this clause ‎(iv) and shall notify the Conversion Agent and the Trustee if the Notes become convertible in accordance
with this clause (iv).

 

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(v)           
If the Company calls, prior to the close of business on the Business Day immediately preceding March 15, 2026, any or all
of the Notes for redemption pursuant to ‎Article 16, then Holders may surrender all or any portion of their Notes for conversion
at any time prior to the close of business on the Scheduled Trading Day immediately preceding the Redemption Date, even if the
Notes are not otherwise convertible at such time. After that time, the right to convert shall expire, unless the Company defaults
in the payment of the Redemption Price, in which case Holders may convert their Notes until the Redemption Price has been paid
or duly provided for.

 

(vi)           
Neither the Trustee nor Conversion Agent (if other than the Trustee) shall have any duty to determine or verify the Company’s
determination of whether any of the conditions to conversion have been satisfied.

 

Section 14.02. Conversion Procedure;
Settlement Upon Conversion.

 

(a)           
Subject to this ‎Section 14.02, ‎Section 14.03(b) and ‎Section 14.07(a), upon conversion of any Note, 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,
cash (“Cash Settlement”), shares of Common Stock, together with cash, if applicable, in lieu of delivering any
fractional share of Common Stock in accordance with subsection ‎(j) of this ‎Section 14.02, (“Physical Settlement”)
or a combination of cash and shares of Common Stock, together with cash, if applicable, in lieu of delivering any fractional share
of Common Stock in accordance with subsection ‎(j) of this ‎Section 14.02 (“Combination Settlement”),
at its election, as set forth in this ‎Section 14.02.

 

(i)           
All conversions for which the relevant Conversion Date occurs on or after the Final Settlement Method Election Date and
all conversions for which the relevant Conversion Date occurs after the Company’s issuance of a Redemption Notice and prior
to the related Redemption Date, shall be settled using the same Settlement Method.

 

(ii)           
Except for (x) any conversions for which the relevant Conversion Date occurs after the Company’s issuance of a Redemption
Notice with respect to the Notes but prior to the related Redemption Date and for (y) any conversions for which the relevant Conversion
Date occurs on or after the Final Settlement Method Election Date (each of the periods in clauses (x) and (y), the “Specified
Periods”), the Company shall use the same Settlement Method for all conversions with the same Conversion Date, but the
Company shall not have any obligation to use the same Settlement Method with respect to conversions with different Conversion Dates.

 

(iii)           
If, in respect of any Conversion Date (or for all Conversion Dates during a Specified Period, 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 shall deliver such Settlement Notice to converting Holders with a copy to
the Trustee and the Conversion Agent (if other than the Trustee) no later than the close of business on the Trading Day immediately
following the relevant Conversion Date (or, in the case of any conversions for which the relevant Conversion Date occurs during
a Specified Period (x) after the date of issuance of a Redemption Notice and prior to the related Redemption Date, in such Redemption
Notice or (y) on or after the Final Settlement Method Election Date, no later than the Final Settlement Method Election date).
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. Such 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.

 

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By notice to the Trustee and to
Holders, in respect of any conversion of Notes following the Company’s delivery of a Settlement Notice and as to which a
Settlement Method does not apply (or is not deemed to have applied) the Company may, at its option, irrevocably elect to satisfy
its Conversion Obligation with respect to the Notes through Combination Settlement with a Specified Dollar Amount per $1,000 principal
amount of Notes of $1,000 for all such conversions

 

(iv)           
The cash, shares of Common Stock (and cash in lieu of any fractional shares) or a combination of cash and shares of Common
Stock in respect of any conversion of Notes (the “Settlement Amount”) shall be computed as follows:

 

(A)            
if the Company elects to satisfy its Conversion Obligation 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
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 30 consecutive Trading Days during the related Observation Period; and

 

(C)            
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, 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 30 consecutive Trading
Days during the related Observation Period.

 

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(v)           
The Daily Settlement Amounts (if applicable) and the Daily Conversion Values (if applicable) shall be determined by the
Company promptly following the last day of the applicable 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 delivering any fractional
share of Common Stock, 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 delivering fractional shares
of Common Stock. The Trustee and the Conversion Agent (if other than the Trustee) shall have no responsibility for any such determination.

 

(b)           
Subject to ‎Section 14.02(e), before any Holder of a
Note shall be entitled to convert a Note as set forth above, such Holder shall (i) in the case of a Global Note, comply with the
procedures of the Depositary in effect at that time and, if required, pay funds equal to interest payable on the next Interest
Payment Date to which such Holder is not entitled as set forth in ‎Section 14.02(h) and (ii) in the case of a Physical Note
(1) complete and manually sign an irrevocable notice to the Conversion Agent as set forth in the Form of Notice of Conversion (or
a facsimile thereof) (a “Notice of Conversion”) at the office of the Conversion Agent and state in writing therein
the principal amount of Notes to be converted and the name or names (with addresses) in which such Holder wishes the certificate
or certificates for any shares of Common Stock to be delivered upon settlement of the Conversion Obligation to be registered and
deliver such Notice of Conversion to the Conversion Agent, (2) surrender such Notes, duly endorsed to the Company or in blank (and
accompanied by appropriate endorsement and transfer documents), at the office of the Conversion Agent, (3) if required, furnish
appropriate endorsements and transfer documents and (4) if required, pay funds equal to interest payable on the next Interest Payment
Date to which such Holder is not entitled as set forth in ‎Section 14.02(h). The Trustee (and, if different, the Conversion
Agent) shall notify the Company of any conversion pursuant to this ‎Article 14 on the Conversion Date for such conversion.
No Notice of Conversion with respect to any Notes may be surrendered by a Holder thereof if such Holder has also delivered a Fundamental
Change Repurchase Notice to the Company in respect of such Notes and not validly withdrawn such Fundamental Change Repurchase Notice
with respect to such Notes in accordance with ‎Section 15.03.

 

If more than one Note shall be surrendered
for conversion at one time by the same Holder, the Conversion Obligation with respect to such Notes shall be computed on the basis
of the aggregate principal amount of the Notes (or specified portions thereof to the extent permitted thereby) so surrendered.

 

(c)           
A Note shall be deemed to have been converted immediately prior to the close of business on the date (the “Conversion
Date”) that the Holder has complied with the requirements set forth in subsection ‎(b) above. Except as set forth
in ‎Section 14.03(b) and ‎Section 14.07(a), the Company shall satisfy its Conversion Obligation by paying or delivering,
as the case may be, the consideration due in respect of the Conversion Obligation (i) on the second Business Day immediately following
the relevant Conversion Date, if the Company elects Physical Settlement; or (ii) on the second Business Day immediately following
the last Trading Day of the Observation Period, in the case of any other Settlement Method. If any shares of Common Stock are due
to converting Holders, the Company shall issue or cause to be issued, and deliver to the Conversion Agent or to such Holder, or
such Holder’s nominee or nominees, certificates or a book-entry transfer through the Depositary for the full number of shares
of Common Stock to which such Holder shall be entitled in satisfaction of the Company’s Conversion Obligation.

 

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(d)           
In case any Note shall be surrendered for partial conversion, the Company shall execute and the Trustee shall authenticate
and deliver to or upon the written order of the Holder of the Note so surrendered a new Note or Notes in authorized denominations
in an aggregate principal amount equal to the unconverted portion of the surrendered Note, without payment of any service charge
by the converting Holder but, if required by the Company, with payment of a sum sufficient to cover any documentary, stamp or similar
issue or transfer tax that may be imposed in connection therewith as a result of the name of the Holder of the new Notes issued
upon such conversion being different from the name of the Holder of the old Notes surrendered for such conversion.

 

(e)           
If a Holder submits a Note for conversion, the Company shall pay any documentary, stamp or similar issue or transfer tax
due on the issue of any shares of Common Stock upon conversion, unless the tax is due because the Holder requests such shares to
be issued in a name other than the Holder’s name, in which case the Holder shall pay that tax. The Conversion Agent may refuse
to deliver the certificates representing the shares of Common Stock being issued in a name other than the Holder’s name until
the Trustee receives a sum sufficient to pay any tax that is due by such Holder in accordance with the immediately preceding sentence.

 

(f)           
Except as provided in ‎Section 14.04, no adjustment shall be made for dividends on any shares of Common Stock issued
upon the conversion of any Note as provided in this Article 14.

 

(g)           
Upon the conversion of an interest in a Global Note, the Trustee, or the Custodian at the direction of the Trustee, shall
make a notation on such Global Note as to the reduction in the principal amount represented thereby. The Company shall notify the
Trustee in writing of any conversion of Notes effected through any Conversion Agent other than the Trustee.

 

(h)           
Upon conversion, a Holder shall not receive any separate cash payment for accrued and unpaid interest, if any, except as
set forth below. The Company’s settlement of the Conversion Obligation shall be deemed to satisfy in full its obligation
to pay the principal amount of the Note and accrued and unpaid interest, if any, to, but not including, the relevant Conversion
Date. As a result, accrued and unpaid interest, if any, to, but not including, 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 (if any), accrued and unpaid interest will be deemed to be paid first out of the cash paid upon such conversion.
Notwithstanding the foregoing, if Notes are converted after the close of business on a Regular Record Date, Holders of such Notes
as of the close of business on such Regular Record Date will receive the full amount of interest payable on such Notes on the corresponding
Interest Payment Date notwithstanding the conversion. Notes surrendered for conversion during the period from the close of business
on any Regular Record Date to the open of business on the immediately following Interest Payment Date must be accompanied by funds
equal to the amount of interest payable on the Notes so converted; provided that no such payment shall be required (1) for conversions
following the Regular Record Date immediately preceding the Maturity Date; (2) if the Company has specified a Redemption Date that
is after a Regular Record Date and on or prior to the Business Day immediately succeeding the date such interest is paid, (3) if
the Company has specified a Fundamental Change Repurchase Date that is after a Regular Record Date and on or prior to the Business
Day immediately succeeding the date such interest is paid; or (4) to the extent of any Defaulted Amounts, if any Defaulted Amounts
exists at the time of conversion with respect to such Note.

 

    63

     

    

 

(i)           
The Person in whose name the certificate for any shares of Common Stock delivered upon conversion is registered shall be
treated as a stockholder of record as of the close of business on the relevant Conversion Date (if the Company elects to satisfy
the related Conversion Obligation by Physical Settlement) or the last Trading Day of the relevant Observation Period (if the Company
elects (or is deemed to have elected) to satisfy the related Conversion Obligation by Combination Settlement), as the case may
be. Upon a conversion of Notes, such Person shall no longer be a Holder of such Notes surrendered for conversion.

 

(j)           
The Company shall not issue any fractional share 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 for the relevant Conversion
Date (in the case of Physical Settlement) or based on the Daily VWAP for the last Trading Day of the relevant Observation Period
(in the case of Combination Settlement). For each Note surrendered for conversion, if the Company has elected (or has been deemed
to have 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 relevant Observation Period and any fractional shares remaining
after such computation shall be paid in cash.

 

Section 14.03. Increased Conversion Rate
Applicable to Certain Notes Surrendered in Connection with Make-Whole Fundamental Changes or Redemption Notice. (a) If a Make-Whole
Fundamental Change occurs prior to the Maturity Date, or the Effective Date of a Redemption Notice for the Notes occurs prior to
the Maturity Date, and a Holder elects to convert its Notes in connection with such Make-Whole Fundamental Change or such Redemption
Notice, the Company shall, under the circumstances described below, increase the Conversion Rate for the Notes so surrendered for
conversion by a number of additional shares of Common Stock (the “Additional Shares”), as described below. A
conversion of Notes shall be deemed for these purposes to be “in connection with” such Make-Whole Fundamental Change
or such Redemption Notice if the relevant Notice of Conversion is received by the Conversion Agent from, and including, (i) in
the case of a Make-Whole Fundamental Change, the Effective Date of the Make-Whole Fundamental Change up to, and including, the
Business Day immediately prior to the related Fundamental Change Repurchase Date (or, in the case of a Make-Whole Fundamental Change
that would have been a Fundamental Change but for the proviso in subclause (i) of clause (b) of the definition thereof, the 35th
Trading Day immediately following the Effective Date of such Make-Whole Fundamental Change) or (ii) in the case of a Redemption
Notice, the Effective Date of such Redemption Notice up to, and including, the Business Day immediately preceding the related Redemption
Date.

 

    64

     

    

 

(b)           
Upon surrender of Notes for conversion in connection with a Make-Whole Fundamental Change or a Redemption Notice pursuant
to ‎Section 14.01(b)(iii), the Company shall, at its option, satisfy the related Conversion Obligation by Physical Settlement,
Cash Settlement or Combination Settlement, and in accordance with ‎Section 14.02 based on the Conversion Rate as increased
to reflect the Additional Shares pursuant to the table below; provided, however, that if, at the effective time of
a Make-Whole Fundamental Change described in clause (b) of the definition of Fundamental Change, the Reference Property following
such Make-Whole Fundamental Change is composed entirely of cash, for any conversion of Notes following the Effective Date of such
Make-Whole Fundamental Change, the Conversion Obligation shall be calculated based solely on the Stock Price for the transaction
and shall be deemed to be an amount of cash per $1,000 principal amount of converted Notes equal to the Conversion Rate (including
any increase to reflect the Additional Shares as described in this section), multiplied by such Stock Price. In such event,
the Conversion Obligation shall be determined and paid to Holders in cash on the second Business Day following the Conversion Date.
The Company shall notify the Holders of Notes, the Trustee and the Conversion Agent (if other than the Trustee) of the Effective
Date of any Make-Whole Fundamental Change and issue a press release announcing such Effective Date no later than five Business
Days after such Effective Date.

 

(c)           
The number of Additional Shares, if any, by which the Conversion Rate shall be increased shall be determined by reference
to the table below, based on the date on which the Make-Whole Fundamental Change occurs or becomes effective, or the date the Redemption
Notice is delivered to the Trustee, as applicable (each, the “Effective Date”) and the price (the “Stock
Price”) paid (or deemed to be paid) per share of the Common Stock in the Make-Whole Fundamental Change or in connection
with such Redemption Notice. If the holders of the Common Stock receive in exchange for their Common Stock only cash in a Make-Whole
Fundamental Change described in clause (b) of the definition of Fundamental Change, the Stock Price shall be the cash amount paid
per share. Otherwise (including in the case of a Redemption Notice), the Stock Price shall be the average of the Last Reported
Sale Prices of the Common Stock over the five Trading Day period ending on, and including, the Trading Day immediately preceding
the Effective Date of the Make-Whole Fundamental Change or Redemption Notice, as applicable. The Board of Directors shall make
appropriate adjustments to the Stock Price, in its good faith determination, to account for any adjustment to the Conversion Rate
that becomes effective, or any event requiring an adjustment to the Conversion Rate where the Ex-Dividend Date of the event occurs,
during such five consecutive Trading Day period.

 

(d)           
The Stock Prices set forth in the column headings of the table below shall be adjusted as of any date on which the Conversion
Rate of the Notes is otherwise adjusted. The adjusted Stock Prices shall equal the Stock Prices applicable immediately prior to
such adjustment, multiplied by a fraction, the numerator of which is the Conversion Rate immediately prior to such 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 below shall be adjusted in the same manner and at the same time as the Conversion Rate as set forth
in ‎Section 14.04.

 

    65

     

    

 

(e)           
The following table sets forth the number of Additional Shares of Common Stock to be added to the Conversion Rate per $1,000
principal amount of Notes pursuant to this ‎Section 14.03 for each Stock Price and Effective Date set forth below:

 

	 	 	Stock Price	 
	Effective Date	 	$	40.40	 	 	$	42.50	 	 	$	47.50	 	 	$	52.52	 	 	$	57.50	 	 	$	62.50	 	 	$	68.28	 	 	$	75.00	 	 	$	100.00	 	 	$	150.00	 	 	$	225.00	 	 	$	300.00	 
	September 20, 2019	 	 	5.7120	 	 	 	5.1793	 	 	 	4.1518	 	 	 	3.3850	 	 	 	2.8066	 	 	 	2.3561	 	 	 	1.9524	 	 	 	1.5955	 	 	 	0.8475	 	 	 	0.3298	 	 	 	0.1060	 	 	 	0.0320	 
	September 15, 2020	 	 	5.7120	 	 	 	5.2061	 	 	 	4.1251	 	 	 	3.3253	 	 	 	2.7274	 	 	 	2.2662	 	 	 	1.8572	 	 	 	1.5002	 	 	 	0.7717	 	 	 	0.2922	 	 	 	0.0928	 	 	 	0.0275	 
	September 15, 2021	 	 	5.7120	 	 	 	5.1717	 	 	 	4.0355	 	 	 	3.2038	 	 	 	2.5895	 	 	 	2.1216	 	 	 	1.7125	 	 	 	1.3612	 	 	 	0.6702	 	 	 	0.2453	 	 	 	0.0768	 	 	 	0.0215	 
	September 15, 2022	 	 	5.7120	 	 	 	5.1029	 	 	 	3.9013	 	 	 	3.0337	 	 	 	2.4029	 	 	 	1.9305	 	 	 	1.5255	 	 	 	1.1858	 	 	 	0.5507	 	 	 	0.1954	 	 	 	0.0610	 	 	 	0.0161	 
	September 15, 2023	 	 	5.7120	 	 	 	4.9941	 	 	 	3.7090	 	 	 	2.7980	 	 	 	2.1501	 	 	 	1.6770	 	 	 	1.2830	 	 	 	0.9639	 	 	 	0.4124	 	 	 	0.1440	 	 	 	0.0458	 	 	 	0.0112	 
	September 15, 2024	 	 	5.7120	 	 	 	4.8240	 	 	 	3.4219	 	 	 	2.4548	 	 	 	1.7912	 	 	 	1.3267	 	 	 	0.9589	 	 	 	0.6794	 	 	 	0.2588	 	 	 	0.0945	 	 	 	0.0314	 	 	 	0.0069	 
	September 15, 2025	 	 	5.7120	 	 	 	4.5598	 	 	 	2.9523	 	 	 	1.8977	 	 	 	1.2273	 	 	 	0.8023	 	 	 	0.5058	 	 	 	0.3144	 	 	 	0.1078	 	 	 	0.0478	 	 	 	0.0163	 	 	 	0.0026	 
	September 15, 2026	 	 	5.7120	 	 	 	4.4890	 	 	 	2.0122	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 

 

The exact Stock Prices and Effective Dates
may not be set forth in the table above, in which case:

 

(i)           
if the Stock Price is between two Stock Prices in the table above or the Effective Date is between two Effective Dates in
the table, the number of Additional Shares by which the Conversion Rate shall be increased shall be determined by a straight-line
interpolation between the number of Additional Shares set forth for the higher and lower Stock Prices and the earlier and later
Effective Dates, as applicable, based on a 365-day year;

 

(ii)           
if the Stock Price is greater than $300.00 per share (subject to adjustment in the same manner as the Stock Prices set forth
in the column headings of the table above pursuant to subsection (d) above), no Additional Shares shall be added to the Conversion
Rate; and

 

(iii)           
if the Stock Price is less than $40.40 per share (subject to adjustment in the same manner as the Stock Prices set forth
in the column headings of the table above pursuant to subsection (d) above), no Additional Shares shall be added to the Conversion
Rate.

 

Notwithstanding the foregoing, in no event
shall the Conversion Rate per $1,000 principal amount of Notes exceed 24.7524 shares of Common Stock, subject to adjustment in
the same manner as the Conversion Rate pursuant to ‎Section 14.04.

 

(f)           
Nothing in this ‎Section 14.03 shall prevent an adjustment to the Conversion Rate pursuant to ‎Section 14.04 in
respect of a Make-Whole Fundamental Change.

 

Section 14.04. Adjustment of Conversion
Rate. The Conversion Rate shall be adjusted from time to time by the Company if any of the following events occurs, except
that the Company shall not make any adjustments to the Conversion Rate if Holders of the Notes participate (other than in the case
of (x) a share split or share combination or (y) a tender or exchange offer, in each case, that would result in an adjustment to
the Conversion Rate pursuant to clause (a) or clause (e) below), 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 in this ‎Section 14.04, without having
to convert their Notes, as if they held a number of shares of Common Stock equal to the Conversion Rate, multiplied by the
principal amount (expressed in thousands) of Notes held by such Holder.

 

    66

     

    

 

(a)           
If the Company exclusively issues shares of Common Stock as a dividend or distribution on shares of its Common Stock, or
if the Company effects a share split or share combination, the Conversion Rate shall be adjusted based on the following formula:

 

 

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 share combination, as applicable;

 

	CR'	=	the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date or effective date;

 

	OS0	=	the number of shares of Common Stock outstanding immediately prior to the open of business on such Ex-Dividend Date or effective
date (before giving effect to any such dividend, distribution, split or combination); and

 

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

 

Any adjustment made under this ‎Section 14.04(a) shall become
effective immediately after the open of business on the Ex-Dividend Date for such dividend or distribution, or immediately after
the open of business on the effective date for such share split or share combination, as applicable. If any dividend or distribution
of the type described in this ‎Section 14.04(a) is declared but not so paid or made, the Conversion Rate shall be immediately
readjusted, effective as of the date the Board of Directors determines not to pay such dividend or distribution, to the Conversion
Rate that would then be in effect if such dividend or distribution had not been declared.

 

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

 

    67

     

    

 

 

where,

 

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

 

	CR'	=	the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date;

 

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

 

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

 

	Y	=	the number of shares of Common Stock equal to the aggregate price payable to exercise such rights, options or warrants, divided
by the average of the Last Reported Sale Prices of the Common Stock over the 10 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.

 

Any increase made under this ‎Section 14.04(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 such rights, options or warrants expire without delivery of
shares of the Common Stock, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect had the
increase with respect to the issuance of such rights, options or warrants been made on the basis of delivery of only the number
of shares of Common Stock actually delivered. If such rights, options or warrants are not so issued, the Conversion Rate shall
be decreased to the Conversion Rate that would then be in effect if such Ex-Dividend Date for such issuance had not occurred.

 

For purposes of this ‎Section 14.04(b)
and for the purpose of ‎Section 14.01(b)(ii)(A), in determining whether any rights, options or warrants entitle the holders
to subscribe for or purchase shares of the Common Stock at less than such average of the Last Reported Sale Prices of the Common
Stock for the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement
for such issuance, and in determining the aggregate offering price of such shares of Common Stock, there shall be taken into account
any consideration received by the Company for such rights, options or warrants and any amount payable on exercise or conversion
thereof, the value of such consideration, if other than cash, to be determined by the Board of Directors.

 

(c)           
If the Company distributes shares of its Capital Stock, evidences of its indebtedness, other assets or property or rights,
options or warrants to acquire its Capital Stock or other securities, to all or substantially all holders of the Common Stock,
excluding (i) dividends, distributions or issuances as to which an adjustment was effected pursuant to ‎Section 14.04(a),
‎Section 14.04(b) or ‎Section
14.04(e), (ii) dividends or distributions paid exclusively in cash as to which an adjustment was effected pursuant to ‎Section
14.04(d), and (iii) Spin-Offs as to which the provisions set forth below in this ‎Section 14.04(c) shall apply (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 of the Company, the “Distributed Property”), then the Conversion Rate shall be increased
based on the following formula:

 

    68

     

    

 

 

where,

 

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

 

	CR'	=	the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date;

 

	SP0	=	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and including,
the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and

 

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

 

Any increase made under the portion of this
‎Section 14.04(c) above shall become effective immediately after the open of business on the Ex-Dividend Date for such distribution.
If such distribution is not so paid or made, the Conversion Rate shall be decreased to the Conversion Rate that would then be in
effect if such distribution had not been declared. Notwithstanding the foregoing, if “FMV” (as defined above) is equal
to or greater than “SP0” (as defined above), in lieu of the foregoing increase, each Holder of a Note shall
receive, in respect of each $1,000 principal amount thereof, at the same time and upon the same terms as holders of the Common
Stock receive the Distributed Property, the amount of Distributed Property such Holder would have received if such Holder owned
a number of shares of Common Stock equal to the Conversion Rate in effect on the Ex-Dividend Date for the distribution. If the
Board of Directors determines the “FMV” (as defined above) of any distribution for purposes of this ‎Section 14.04(c)
by reference to the actual or when-issued trading market for any securities, it shall in doing so consider the prices in such market
over the same period used in computing the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period
ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution.

 

With respect to an adjustment pursuant to
this ‎Section 14.04(c) where there has been a payment of a dividend or other distribution on the Common Stock of shares of
Capital Stock of any class or series, or similar equity interest, of or relating to a Subsidiary or other business unit of the
Company, that are, or, when issued, will be, listed or admitted for trading on a U.S. national securities exchange (a “Spin-Off”),
the Conversion Rate shall be increased based on the following formula:

 

    69

     

    

 

 

where,

 

	CR0	=	the Conversion Rate in effect immediately prior to the end of the Valuation Period;

 

	CR'	=	the Conversion Rate in effect immediately after the end of the Valuation Period;

 

	FMV0	=	the average of the Last Reported 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 Last Reported Sale Price as set
forth in ‎Section 1.01 as if references therein to Common Stock were to such Capital Stock or similar equity interest) over
the first 10 consecutive Trading Day period after, and including, the Ex-Dividend Date of the Spin-Off (the “Valuation
Period”); and

 

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

 

The increase to the Conversion Rate under
the preceding paragraph shall occur on the last Trading Day of the Valuation Period; provided that (x) in respect of any conversion
of Notes for which Physical Settlement is applicable, if the relevant Conversion Date occurs during the Valuation Period, the reference
to “10” in the portion of this ‎Section 14.04(c) related to Spin-Offs shall be deemed to be replaced with such
lesser number of Trading Days as have elapsed between the Ex-Dividend Date for such Spin-Off and such Conversion Date in determining
the Conversion Rate and (y) in respect of any conversion of Notes for which Cash Settlement or Combination Settlement is applicable,
for any Trading Day that falls within the relevant Observation Period for such conversion and within the Valuation Period, the
reference to “10” in portion of this ‎Section 14.04(c) related to Spin-offs shall be deemed replaced with such
lesser number of Trading Days as have elapsed between the Ex-Dividend Date for such Spin-Off and such Trading Day in determining
the Conversion Rate as of such Trading Day. In addition, if the Ex-Dividend Date for such Spin-Off is after the 10th
Trading Day immediately preceding, and including, the end of any Observation Period in respect of a conversion of Notes, references
to “10” or “10th” in portion of this ‎Section 14.04(c) related to Spin-offs shall be deemed
replaced, solely 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 such Spin-Off to, and including, the last Trading Day of such Observation Period.

 

For purposes of this ‎Section 14.04(c)
(and subject in all respect to ‎Section 14.11), 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”): (i) are deemed to be transferred
with such shares of the Common Stock; (ii) are not exercisable; and (iii) 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 14.04(c) (and no adjustment to the
Conversion Rate under this ‎Section 14.04(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 adjustment (if any is required) to
the Conversion Rate shall be made under this ‎Section 14.04(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 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 adjustment to the Conversion Rate under this ‎Section 14.04(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 readjusted as if such rights, options or warrants had not been issued and (y) the
Conversion Rate shall then again be readjusted 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 readjusted as if such rights, options and warrants had not been issued.

 

    70

     

    

 

For purposes of ‎Section 14.04(a),
‎Section 14.04(b) and this ‎Section 14.04(c), any dividend
or distribution to which this ‎Section 14.04(c) is applicable that also includes one or both of:

 

(A)       a
dividend or distribution of shares of Common Stock to which ‎Section 14.04(a) is applicable (the “Clause A Distribution”);
or

 

(B)       a
dividend or distribution of rights, options or warrants to which ‎Section 14.04(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
14.04(c) is applicable (the “Clause C Distribution”) and any Conversion Rate adjustment required by this ‎Section
14.04(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 14.04(a)
and ‎Section 14.04(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 effective date” within
the meaning of ‎Section 14.04(a) or “outstanding immediately prior to the open of business on such Ex-Dividend Date”
within the meaning of ‎Section 14.04(b).

 

    71

     

    

 

(d)           
If any cash dividend or distribution is made to all or substantially all holders of the Common Stock (other than a distribution
as to which an adjustment to the Conversion Rate is effected pursuant to ‎Section
14.04(e)), the Conversion Rate shall be adjusted based on the following formula:

 

 

where,

 

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

 

	CR'	=	the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for such dividend or distribution;

 

	SP0	=	the Last Reported Sale Price of the Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend
or distribution; and

 

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

 

Any increase pursuant to this ‎Section 14.04(d) shall become
effective immediately after the open of business on the Ex-Dividend Date for such dividend or distribution. If such dividend or
distribution is not so paid, the Conversion Rate shall be decreased, effective as of the date the Board of Directors determines
not to make or pay such dividend or distribution, to be the Conversion Rate that would then be in effect if such dividend or distribution
had not been declared. Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater than “SP0”
(as defined above), in lieu of the foregoing increase, each Holder of a Note shall receive, for each $1,000 principal amount of
Notes, at the same time and upon the same terms as holders of shares of the Common Stock, the amount of cash that such Holder would
have received if such Holder owned a number of shares of Common Stock equal to the Conversion Rate on the Ex-Dividend Date for
such cash dividend or distribution.

 

(e)           
If the Company or any of its Subsidiaries make a payment in respect of a tender or exchange offer for the Common Stock,
if the cash and value of any other consideration included in the payment per share of the Common Stock exceeds the Last Reported
Sale Price of the Common Stock on the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant
to such tender or exchange offer, the Conversion Rate shall be increased based on the following formula:

 

    72

     

    

 

 

where,

 

	CR0	=	the Conversion Rate in effect immediately prior to the close of business on the 10th Trading Day immediately following, and including,
the Trading Day next succeeding the date such tender or exchange offer expires;

 

	CR'	=	the Conversion Rate in effect immediately after the close of business on the 10th Trading Day immediately following, and including,
the Trading Day next succeeding the date such tender or exchange offer expires;

 

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

 

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

 

	OS'	=	the number of shares of Common Stock outstanding immediately after the date such tender or exchange offer expires (after giving
effect to the purchase of all shares of Common Stock accepted for purchase or exchange in such tender or exchange offer); and

 

	SP'	=	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period commencing on, and
including, the Trading Day next succeeding the date such tender or exchange offer expires.

 

The increase to the Conversion Rate under this ‎Section
14.04(e) shall occur at the close of business on the 10th Trading Day immediately following, and including, the Trading Day next
succeeding the date such tender or exchange offer expires; provided that (x) in respect of any conversion of Notes for which Physical
Settlement is applicable, if the relevant Conversion Date occurs during the 10 Trading Days immediately following, and including,
the Trading Day next succeeding the expiration date of any tender offer or exchange offer, references to “10” or “10th”
in this ‎Section 14.04(e) shall be deemed to be replaced with such lesser number of Trading Days as have elapsed between the
expiration date of such tender offer or exchange offer and such Conversion Date in determining the Conversion Rate. and (y) in
respect of any conversion of Notes for which Cash Settlement or Combination Settlement is applicable, for any Trading Day that
falls within the relevant Observation Period for such conversion and within the 10 Trading Days immediately following, and including,
the Trading Day next succeeding the expiration date of any tender offer or exchange offer, references to “10” or “10th”
in this ‎Section 14.04(e) shall be deemed to be replaced with such lesser number of Trading Days as have elapsed between the
expiration date of such tender offer or exchange offer and such Trading Day in determining the Conversion Rate as of such Trading
Day. In addition, if the Trading Day next succeeding the date such tender offer or exchange offer expires is after the 10th Trading
Day immediately preceding, and including, the end of any Observation Period in respect of a conversion of Notes, references to
“10” or “10th” in this ‎Section 14.04(e) shall be deemed to be replaced, solely in respect of that
conversion, with such lesser number of Trading Days as have elapsed from, and including, the Trading Day next succeeding the date
such tender offer or exchange offer expires to, and including, the last Trading Day of such Observation Period.

 

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(f)           
Except as stated herein, the Company shall not adjust the Conversion Rate for the issuance of shares of its Common Stock
or any securities convertible into or exchangeable for shares of its Common Stock or the right to purchase shares of its Common
Stock or such convertible or exchangeable securities.

 

(g)           
In addition to those adjustments required by clauses ‎(a), ‎(b), ‎(c), ‎(d) and ‎(e) of this ‎Section
14.04, and to the extent permitted by applicable law and subject to the applicable rules of The Nasdaq Global Select Market, the
Company from time to time may increase the Conversion Rate by any amount for a period of at least 20 Business Days if the Board
of Directors determines that such increase would be in the Company’s best interest. In addition, the Company may (but is
not required to) increase the Conversion Rate to avoid or diminish any income tax to holders of Common Stock or rights to purchase
Common Stock in connection with a dividend or distribution of shares (or rights to acquire shares) or similar event. Whenever the
Conversion Rate is increased pursuant to either of the preceding two sentences, the Company shall mail to the Holder of each Note
at its last address appearing on the Note Register a notice of the increase at least 15 days prior to the date the increased Conversion
Rate takes effect, and such notice shall state the increased Conversion Rate and the period during which it will be in effect.

 

(h)           
Notwithstanding anything to the contrary in this ‎Article 14, the Conversion Rate shall not be adjusted:

 

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

 

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

 

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

 

(iv)          solely
for a change in the par value of the Common Stock; or

 

(v)           for
accrued and unpaid interest, if any.

 

Therefore, for the avoidance of doubt, all
Holders of record on the Regular Record Date immediately preceding the Maturity Date, a Redemption Date or any Fundamental Change
Repurchase Date will receive the full interest payment due on the Maturity Date, the Redemption Date or the Fundamental Change
Repurchase Date, as applicable, regardless of whether their Notes have been converted following such Regular Record Date.

 

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(i)           
All calculations and other determinations under this ‎Article 14 shall be made by the Company and shall be made to the
nearest one-ten thousandth (1/10,000) of a share.

 

(j)           
Notwithstanding this ‎Section 14.04 or any other provision of this Indenture or the Notes, if a Conversion Rate adjustment
becomes effective on any Ex-Dividend Date, and a Holder that has converted its Notes on or after such Ex-Dividend Date and on or
prior to the related Record Date would be treated as the record holder of the shares of Common Stock as of the related Conversion
Date as described under ‎Section 14.02(i) based on an adjusted Conversion Rate for such Ex-Dividend Date, then, notwithstanding
the Conversion Rate adjustment provisions in this ‎Section 14.04, the Conversion Rate adjustment relating to such Ex-Dividend
Date shall not be made for such converting Holder. Instead, such Holder shall be treated as if such Holder were the record owner
of the shares of Common Stock on an unadjusted basis and participate in the related dividend, distribution or other event giving
rise to such adjustment.

 

(k)           
Whenever the Conversion Rate is adjusted as herein provided, the Company shall promptly 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 Responsible Officer of the Trustee shall have received
such Officer’s Certificate, the Trustee 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 each 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 Note Register of this Indenture. Failure to deliver such notice shall not affect
the legality or validity of any such adjustment.

 

(l)           
For purposes of this ‎Section 14.04, the number of shares of Common Stock at any time outstanding shall not include
shares held in the treasury of the Company so long as the Company does not pay any dividend or make any distribution on shares
of Common Stock held in the treasury of the Company, but shall include shares issuable in respect of scrip certificates issued
in lieu of fractions of shares of Common Stock.

 

Section 14.05. Adjustments of Prices.
Whenever any provision of this Indenture requires the Company to calculate the Last Reported Sale Prices, the Daily VWAPs,
the Daily Conversion Values or the Daily Settlement Amounts over a span of multiple days (including, without limitation, an Observation
Period and the period, if any, for determining the Stock Price for purposes of a Make-Whole Fundamental Change), the Board of Directors
shall make appropriate adjustments to each to account for any adjustment to the Conversion Rate that becomes effective, or any
event requiring an adjustment to the Conversion Rate where the Ex-Dividend Date of the event occurs, at any time during the period
when the Last Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values or the Daily Settlement Amounts are to be calculated.

 

Section 14.06. Shares to Be Fully Paid.
The Company shall provide, free from preemptive rights, out of its authorized but unissued shares or shares held in treasury, sufficient
shares of Common Stock to provide for conversion of the Notes from time to time as such Notes are presented for conversion (assuming
that at the time of computation of such number of shares, all such Notes would be converted by a single Holder and that Physical
Settlement were applicable).

 

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Section 14.07. Effect of Recapitalizations,
Reclassifications and Changes of the Common Stock.

 

(a)           
In the case of:

 

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

 

(ii)           
any consolidation, merger or combination involving the Company,

 

(iii)           any
sale, lease or other transfer to a third party of the consolidated assets of the Company and the Company’s Subsidiaries
substantially as an entirety or

 

(iv)           any statutory share exchange,

 

in each case, as a result of which the Common
Stock would 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”), then, at and after the effective time of such Share Exchange
Event, the right to convert each $1,000 principal amount of Notes shall be changed into a right to convert such principal amount
of Notes into the kind and amount of shares of stock, other securities or other property or assets (including cash) or any combination
thereof, as the case may be, that a holder of a number of shares of Common Stock equal to the Conversion Rate immediately prior
to such Share Exchange Event would have owned or been entitled to receive (the “Reference Property”, with each
“unit of Reference Property” meaning the kind and amount of Reference Property that a holder of one share of
Common Stock is entitled to receive) upon such Share Exchange Event and, prior to or at the effective time of such Share Exchange
Event, the Company or the successor or purchasing Person, as the case may be, shall execute with the Trustee a supplemental indenture
permitted under ‎Section 10.01(f) providing for such change in the right to convert each $1,000 principal amount of Notes;
provided, however, that at and after the effective time of the Share Exchange Event, (A) 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
in accordance with ‎Section 14.02 and (B) (I) any amount payable in cash upon conversion of the Notes in accordance with ‎Section
14.02 shall continue to be payable in cash, (II) any shares of Common Stock that the Company would have been required to deliver
upon conversion of the Notes in accordance with ‎Section 14.02 shall instead be deliverable in the amount and type of Reference
Property that a holder of that number of shares of Common Stock would have been entitled to receive in such Share Exchange Event
and (III) the Daily VWAP shall be calculated based on the value of a unit of Reference Property.

 

If the 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 Reference Property into which the Notes will be convertible shall be
deemed to be the weighted average of the types and amounts of consideration actually received by the holders of Common Stock, 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 Conversion
Date (as may be increased by any Additional Shares pursuant to ‎Section 14.03), 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 second Business Day immediately following the 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.

 

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Such supplemental indenture described in
the second immediately preceding paragraph shall provide for anti-dilution and other adjustments that shall be as nearly equivalent
as is possible to the adjustments provided for in this ‎Article 14. If, in the case of any Share Exchange Event, the Reference
Property includes shares of stock, securities or other property or assets (including cash or any combination thereof) of a Person
other than the successor or purchasing corporation, as the case may be, in such Share Exchange Event, 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 as the Board of Directors shall reasonably consider necessary by reason of the foregoing, including the provisions
providing for the purchase rights set forth in ‎Article 15.

 

(b)           
In the event the Company shall execute a supplemental indenture pursuant to subsection ‎(a) of this ‎Section 14.07
and in accordance with the requirements of ‎Section
10.05, the Company shall promptly file with the Trustee an Officer’s Certificate briefly stating the reasons therefor,
the kind or amount of cash, securities or property or asset that will comprise a unit of Reference Property after any such Share
Exchange Event, any adjustment to be made with respect thereto and that all conditions precedent have been complied with, and shall
promptly mail notice thereof to all Holders. The Company shall cause notice of the execution of such supplemental indenture to
be mailed to each Holder, at its address appearing on the Note Register provided for in this Indenture, within 20 days after execution
thereof. Failure to deliver such notice shall not affect the legality or validity of such supplemental indenture.

 

(c)           
The Company shall not become a party to any Share Exchange Event unless its terms are consistent with this ‎Section
14.07. 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 of cash and shares of Common Stock, as applicable, as set forth in ‎Section 14.01 and ‎Section 14.02
prior to the effective date of such Share Exchange Event.

 

(d)           
The above provisions of this Section shall similarly apply to successive Share Exchange Events.

 

Section 14.08. Certain Covenants.
(a) The Company covenants that all shares of Common Stock issued upon conversion of Notes will be fully paid and non-assessable
by the Company and free from all taxes, liens and charges with respect to the issue thereof.

 

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(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.

 

(c)           
The Company further covenants that if at any time the Common Stock shall be listed on any national securities exchange or
automated quotation system the Company will list and keep listed, so long as the Common Stock shall be so listed on such exchange
or automated quotation system, any Common Stock issuable upon conversion of the Notes.

 

Section 14.09. Responsibility of Trustee.
The Trustee and any other Conversion Agent shall not at any time be under any duty or responsibility to any Holder to determine
the Conversion Rate (or any adjustment thereto) or whether any facts exist that may require any adjustment (including any increase)
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, or herein or in any supplemental indenture provided to be employed, in making the same. The Trustee and
any other Conversion Agent shall not be accountable with respect to the validity or value (or the kind or amount) of any shares
of Common Stock, or of any securities, property or cash that may at any time be issued or delivered upon the conversion of any
Note; and the Trustee and any other Conversion Agent make no representations with respect thereto. Neither the Trustee nor any
Conversion Agent shall be responsible for any failure of the Company to issue, transfer or deliver any shares of Common Stock or
stock certificates or other securities or property or cash upon the surrender of any Note for the purpose of conversion or to comply
with any of the duties, responsibilities or covenants of the Company contained in this Article. Without limiting the generality
of the foregoing, neither the Trustee nor any Conversion Agent shall be under any responsibility to determine the correctness of
any provisions contained in any supplemental indenture entered into pursuant to ‎Section 14.07 relating either to the kind
or amount of shares of stock or securities or property (including cash) receivable by Holders upon the conversion of their Notes
after any event referred to in such ‎Section 14.07 or to any adjustment to be made with respect thereto, but, subject to the
provisions of ‎Section 7.01, may accept (without any independent investigation) 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. Neither the Trustee nor
the Conversion Agent shall be responsible for determining whether any event contemplated by ‎Section 14.01(b) has occurred
that makes the Notes eligible for conversion or no longer eligible therefor until the Company has delivered to the Trustee and
the Conversion Agent the notices referred to in ‎Section 14.01(b) with respect to the commencement or termination of such conversion
rights, on which notices the Trustee and the Conversion Agent may conclusively rely, and the Company agrees to deliver such notices
to the Trustee and the Conversion Agent immediately after the occurrence of any such event or at such other times as shall be provided
for in ‎Section 14.01(b).

 

Section 14.10. Notice to Holders Prior
to Certain Actions. In case of any:

 

(a)           
action by the Company or one of its Subsidiaries that would require an adjustment in the Conversion Rate pursuant to ‎Section
14.04 or ‎Section
14.11;

 

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(b)           
Share Exchange Event; or

 

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

 

then, in each case (unless notice of such event is otherwise
required pursuant to another provision of this Indenture), the Company shall cause to be filed with the Trustee and the Conversion
Agent (if other than the Trustee) and to be mailed to each Holder at its address appearing on the Note Register, as promptly as
possible but in any event at least 20 days prior to the applicable date hereinafter specified, a notice stating (i) the date on
which a record is to be taken for the purpose of such action by the Company or one of its Subsidiaries or, if a record is not to
be taken, the date as of which the holders of Common Stock of record are to be determined for the purposes of such action by the
Company or one of its Subsidiaries, or (ii) the date on which such Share Exchange Event, dissolution, liquidation or winding-up
is expected to become effective or occur, and the date as of which it is expected that holders of Common Stock of record shall
be entitled to exchange their Common Stock for securities or other property deliverable upon such Share Exchange Event, dissolution,
liquidation or winding-up. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such
action by the Company or one of its Subsidiaries, Share Exchange Event, dissolution, liquidation or winding-up.

 

Section 14.11. Stockholder Rights Plans.
To the extent that the Company has a rights plan in effect upon conversion of the Notes, each share of Common Stock, if any, issued
upon such conversion shall be entitled to receive the appropriate number of rights, if any, and the certificates representing the
Common Stock issued upon such conversion shall bear such legends, if any, in each case as may be provided by the terms of any such
stockholder rights plan, as the same may be amended from time to time. However, if, prior to any conversion, the rights have separated
from the shares of Common Stock in accordance with the provisions of the applicable rights plan so that the Holders would not be
entitled to receive any rights in respect of Common Stock, if any, issuable upon conversion of the Notes, the Conversion Rate shall
be adjusted at the time of separation as if the Company distributed to all or substantially all holders of the Common Stock Distributed
Property as provided in ‎Section 14.04(c), subject to readjustment in the event of the expiration, termination or redemption
of such rights.

 

Section 14.12. Withholding Taxes for
Adjustments in Conversion Rate. The Company may, at its option, set off withholding taxes due with respect to Notes against
payments of cash and deliveries of shares of Common Stock on the Notes. In the case of any such set-off against shares of Common
Stock delivered upon conversion of the Notes, such Common Stock shall be valued based on the arithmetic average of the Daily VWAP
for each Trading Day in the relevant Observation Period.

 

Article
15

Repurchase of Notes at Option of Holders

 

Section 15.01. [Intentionally Omitted]

 

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Section 15.02. Repurchase at Option of
Holders Upon a Fundamental Change. (a) If a Fundamental Change occurs at any time, each Holder shall have the right, at such
Holder’s option, to require the Company to repurchase for cash all of such Holder’s Notes, or any portion of the principal
thereof that is equal to $1,000 or an integral multiple of $1,000 in excess thereof, on the date (the “Fundamental Change
Repurchase Date”) specified by the Company that is not less than 20 calendar days or more than 35 calendar days following
the date of the Fundamental Change Company Notice at a repurchase price equal to 100% of the principal amount thereof, plus
accrued and unpaid interest thereon to, but excluding, the Fundamental Change Repurchase Date (the “Fundamental Change
Repurchase Price”), unless the Fundamental Change Repurchase Date falls after a Regular Record Date but on or prior to
the Interest Payment Date to which such Regular Record Date relates, in which case the Company shall instead pay the full amount
of accrued and unpaid interest to Holders of record as of such Regular Record Date, and the Fundamental Change Repurchase Price
shall be equal to 100% of the principal amount of Notes to be repurchased pursuant to this ‎Article 15.

 

(b)           
Repurchases of Notes under this ‎Section 15.02 shall be made, at the option of the Holder thereof, upon:

 

(i)           
delivery to the Paying Agent by a Holder of a duly completed notice (the “Fundamental Change Repurchase Notice”)
in the form set forth in Attachment 2 to the Form of Note, if the Notes are Physical Notes, or in compliance with the Depositary’s
procedures for surrendering interests in Global Notes, if the Notes are Global Notes, in each case on or before the close of business
on the Business Day immediately preceding the Fundamental Change Repurchase Date; and

 

(ii)           delivery
of the Notes, if the Notes are Physical Notes, to the Paying Agent at any time after delivery of the Fundamental Change Repurchase
Notice (together with all necessary endorsements for transfer) at the Corporate Trust Office of the Paying Agent, or book-entry
transfer of the Notes, if the Notes are Global Notes, in compliance with the procedures of the Depositary, in each case such delivery
being a condition to receipt by the Holder of the Fundamental Change Repurchase Price therefor.

 

The Fundamental Change Repurchase Notice
in respect of any Notes to be repurchased shall state:

 

(i)           
in the case of Physical Notes, the certificate numbers of the Notes to be delivered for repurchase;

 

(ii)           the
portion of the principal amount of Notes to be repurchased, which must be $1,000 or an integral multiple in excess thereof; and

 

(iii)           that the Notes are to be repurchased by the Company pursuant to the applicable provisions of the Notes and this Indenture;

 

provided, however, that if the Notes are Global
Notes, the Fundamental Change Repurchase Notice must comply with appropriate Depositary procedures.

 

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Notwithstanding anything herein to the contrary,
any Holder delivering to the Paying Agent the Fundamental Change Repurchase Notice contemplated by this ‎Section 15.02 shall
have the right to withdraw, in whole or in part, such Fundamental Change Repurchase Notice at any time prior to the close of business
on the Business Day immediately preceding the Fundamental Change Repurchase Date by delivery of a written notice of withdrawal
to the Paying Agent in accordance with ‎Section 15.03.

 

The Paying Agent shall promptly notify the
Company of the receipt by it of any Fundamental Change Repurchase Notice or written notice of withdrawal thereof.

 

(c)           
On or before the 20th calendar day after the occurrence of the effective date of a Fundamental Change, the Company shall
provide to all Holders of Notes and the Trustee and the Paying Agent (in the case of a Paying Agent other than the Trustee) a notice
(the “Fundamental Change Company Notice”) of the occurrence of the effective date of the Fundamental Change
and of the repurchase right at the option of the Holders arising as a result thereof. In the case of Physical Notes, such notice
shall be by first class mail or, in the case of Global Notes, such notice shall be delivered in accordance with the applicable
procedures of the Depositary. Simultaneously with providing such notice, the Company shall publish a notice containing the information
set forth in the Fundamental Change Company Notice in a newspaper of general circulation in The City of New York or publish such
information on the Company’s website or through such other public medium as the Company may use at that time. Each Fundamental
Change Company Notice shall specify:

 

(i)           
the events causing the Fundamental Change;

 

(ii)           the
date of the Fundamental Change;

 

(iii)          the
last date on which a Holder may exercise the repurchase right pursuant to this ‎Article 15;

 

(iv)          the Fundamental Change Repurchase Price;

 

(v)          
the Fundamental Change Repurchase Date;

 

(vi)         
the name and address of the Paying Agent and the Conversion Agent, if applicable;

 

(vii)        
if applicable, the Conversion Rate and any adjustments to the Conversion Rate;

 

(viii)          
if applicable, that the Notes with respect to which a Fundamental Change Repurchase Notice has been delivered by a Holder
may be converted only if the Holder withdraws the Fundamental Change Repurchase Notice in accordance with the terms of this Indenture;

 

(ix)           the procedures that Holders must follow to require the Company to repurchase their Notes.

 

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No failure of the Company to give the foregoing
notices and no defect therein shall limit the Holders’ repurchase rights or affect the validity of the proceedings for the
repurchase of the Notes pursuant to this ‎Section 15.02.

 

At the Company’s request, the Trustee
shall give such notice in the Company’s name and at the Company’s expense; provided, however, that, in
all cases, the text of such Company Notice shall be prepared by the Company.

 

(d)           
Notwithstanding the foregoing, no Notes may be repurchased by the Company on any date at the option of the Holders upon
a Fundamental Change if the principal amount of the Notes has been accelerated, and such acceleration has not been rescinded, on
or prior to such date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Fundamental
Change Repurchase Price with respect to such Notes). The Paying Agent will promptly return to the respective Holders thereof any
Physical Notes held by it during the acceleration of the Notes (except in the case of an acceleration resulting from a Default
by the Company in the payment of the Fundamental Change Repurchase Price with respect to such Notes), or any instructions for book-entry
transfer of the Notes in compliance with the procedures of the Depositary shall be deemed to have been cancelled, and, upon such
return or cancellation, as the case may be, the Fundamental Change Repurchase Notice with respect thereto shall be deemed to have
been withdrawn.

 

(e)           
Notwithstanding the foregoing, the Company shall not be required to make an offer to repurchase the Notes upon a Fundamental
Change if a third party makes such an offer in the manner, and at the times required and otherwise in compliance with the requirements,
set forth in this ‎Article 15 and such third party purchases all of the Notes validly surrendered and not validly withdrawn
under such offer.

 

Section 15.03. Withdrawal of Fundamental
Change Repurchase Notice. (a) A Fundamental Change Repurchase Notice may be withdrawn (in whole or in part) by means of a written
notice of withdrawal delivered to the Corporate Trust Office of the Paying Agent in accordance with this ‎Section 15.03 at
any time prior to the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date, specifying:

 

(i)           
the principal amount of the Notes with respect to which such notice of withdrawal is being submitted,

 

(ii)           if
Physical Notes have been issued, the certificate number of the Note in respect of which such notice of withdrawal is being submitted,
and

 

(iii)          the principal amount, if any, of such Note that remains subject to the original Fundamental Change Repurchase Notice, which
portion must be in principal amounts of $1,000 or an integral multiple of $1,000 in excess thereof;

 

provided, however, that if the Notes are Global
Notes, the notice must comply with appropriate procedures of the Depositary.

 

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Section 15.04. Deposit of Fundamental
Change Repurchase Price. (a) The Company will deposit with the Trustee (or other Paying Agent appointed by the Company, or
if the Company is acting as its own Paying Agent, set aside, segregate and hold in trust as provided in ‎Section 4.04) on or
prior to 11:00 a.m., New York City time, on the Fundamental Change Repurchase Date an amount of money sufficient to repurchase
all of the Notes to be repurchased at the appropriate Fundamental Change Repurchase Price. Subject to receipt of funds and/or Notes
by the Trustee (or other Paying Agent appointed by the Company), payment for Notes surrendered for repurchase (and not withdrawn
prior to the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date) will be made on
the later of (i) the Fundamental Change Repurchase Date (provided the Holder has satisfied the conditions in ‎Section
15.02) 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 15.02 by mailing checks for the amount payable to the
Holders of such Notes entitled thereto as they shall appear in the Note 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.
The Trustee shall, promptly after such payment and upon written demand by the Company, return to the Company any funds in excess
of the Fundamental Change Repurchase Price.

 

(b)           
If by 11:00 a.m. New York City time, on the Fundamental Change Repurchase Date, the Trustee (or other Paying Agent appointed
by the Company) holds money sufficient to make payment on all the Notes or portions thereof that are to be repurchased on such
Fundamental Change Repurchase Date, then (i) such Notes will cease to be outstanding, (ii) interest will cease to accrue on such
Notes (whether or not book-entry transfer of the Notes has been made or the Notes have been delivered to the Trustee or Paying
Agent) and (iii) all other rights of the Holders of such Notes will terminate (other than the right to receive the Fundamental
Change Repurchase Price).

 

(c)           
Upon surrender of a Note that is to be repurchased in part pursuant to ‎Section 15.02, the Company shall execute and
the Trustee shall authenticate and deliver to the Holder a new Note in an authorized denomination equal in principal amount to
the unrepurchased portion of the Note surrendered.

 

Section 15.05. Covenant to Comply with
Applicable Laws Upon Repurchase of Notes. In connection with any repurchase offer, the Company will, if required:

 

(a)           
comply with the provisions of Rule 13e-4, Rule 14e-1 and any other tender offer rules under the Exchange Act;

 

(b)           
file a Schedule TO or any successor or similar schedule; and

 

(c)           
otherwise comply in all material respects with all federal and state securities laws in connection with any offer by the
Company to repurchase the Notes;

 

in each case, so as to permit the rights and
obligations under this ‎Article 15 to be exercised in the time and in the manner specified in this ‎Article 15.

 

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Article
16

Optional Redemption

 

Section 16.01. Optional Redemption.
No sinking fund is provided for the Notes. The Notes shall not be redeemable by the Company prior to September 20, 2023. On or
after September 20, 2023, the Company may redeem (an “Optional Redemption”) for cash all or part of the Notes,
at the Redemption Price, if the Last Reported Sale Price of the Common Stock has been at least 130% of the Conversion Price then
in effect on the last Trading Day of, and for at least 19 other Trading Days (whether or not consecutive) during any 30 consecutive
Trading Day period ending on, and including, the Trading Day immediately preceding the date on which the Company provides the Redemption
Notice in accordance with ‎Section 16.02.

 

Section 16.02. Notice of Optional Redemption;
Selection of Notes. (a) In case the Company exercises its Optional Redemption right to redeem all or, as the case may be, any
part of the Notes pursuant to ‎Section 16.01, it shall fix a date for redemption (each, a “Redemption Date”)
and it or, at its written request received by the Trustee not less than 40 Scheduled Trading Days prior to the Redemption Date
(or such shorter period of time as may be acceptable to the Trustee), the Trustee, in the name of and at the expense of the Company,
shall mail, e-mail or cause to be mailed or otherwise electronically delivered a notice of such Optional Redemption (a “Redemption
Notice”) not less than 35 Scheduled Trading Days nor more than 60 calendar days prior to the Redemption Date to each
Holder of Notes so to be redeemed as a whole or in part at its last address as the same appears on the Note Register; provided,
however, that, if the Company shall give such notice, it shall also give written notice of the Redemption Date to the Trustee.
No Redemption Date may be designated that falls on or after the 31st Scheduled Trading Day prior to the Maturity Date, and the
Redemption Date must be a Business Day.

 

(b)           
The Redemption Notice, if mailed or delivered in the manner herein provided, shall be conclusively presumed to have been
duly given, whether or not the Holder receives such notice. In any case, failure to give such Redemption Notice by mail or electronic
delivery or any defect in the Redemption Notice to the Holder of any Note designated for redemption as a whole or in part shall
not affect the validity of the proceedings for the redemption of any other Note.

 

(c)           
Each Redemption Notice shall specify:

 

(i)           
the Redemption Date;

 

(ii)           the
Redemption Price;

 

(iii)          that on the Redemption Date, the Redemption Price will become due and payable upon each Note to be redeemed, and that interest
thereon, if any, shall cease to accrue on and after the Redemption Date;

 

(iv)          the
place or places where such Notes are to be surrendered for payment of the Redemption Price;

 

(v)           that
Holders may surrender their Notes for conversion at any time prior to the close of business on the Scheduled Trading Day immediately
preceding the Redemption Date;

 

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(vi)          the procedures a converting Holder must follow to convert its Notes;

 

(vii)         the Conversion Rate and, if applicable, the number of Additional Shares added to the Conversion Rate in accordance with
‎Section 14.03;

 

(viii)        the CUSIP, ISIN or other similar numbers, if any, assigned to such Notes; and

 

(ix)           in case any Note is to be redeemed in part only, the portion of the principal amount thereof to be redeemed and on and after
the Redemption Date, upon surrender of such Note, a new Note in principal amount equal to the unredeemed portion thereof shall
be issued.

 

A Redemption Notice shall be irrevocable.

 

(d)           
If fewer than all of the outstanding Notes are to be redeemed, the Trustee shall select (in accordance with applicable procedures
of the Depositary) the Notes or portions thereof of a Global Note or the Notes in certificated form to be redeemed (in principal
amounts of $1,000 or multiples thereof) by lot, on a pro rata basis or by another method the Trustee considers to be fair
and appropriate. If any Note selected for partial redemption is submitted for conversion in part after such selection, the portion
of the Note submitted for conversion shall be deemed (so far as may be possible) to be the portion selected for redemption.

 

Section 16.03. Payment of Notes Called
for Redemption. (a) If any Redemption Notice has been given in respect of the Notes in accordance with ‎Section 16.02,
the Notes shall become due and payable on the Redemption Date at the place or places stated in the Redemption Notice and at the
applicable Redemption Price. On presentation and surrender of the Notes at the place or places stated in the Redemption Notice,
the Notes shall be paid and redeemed by the Company at the applicable Redemption Price.

 

(b)           
Prior to the open of business on the Redemption Date, the Company shall deposit with the Paying Agent or, if the Company
or a Subsidiary of the Company is acting as the Paying Agent, shall segregate and hold in trust as provided in ‎Section 7.06
an amount of cash (in immediately available funds if deposited on the Redemption Date), sufficient to pay the Redemption Price
of all of the Notes to be redeemed on such Redemption Date. Subject to receipt of funds by the Paying Agent, payment for the Notes
to be redeemed shall be made promptly after the later of:

 

(i)           
the Redemption Date for such Notes; and

 

(ii)           
the time of presentation of such Note to the Trustee (or other Paying Agent appointed by the Company) by the Holder thereof
in the manner required by this ‎Section 16.03.

 

The Paying Agent shall, promptly after such
payment and upon written demand by the Company, return to the Company any funds in excess of the Redemption Price.

 

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Section 16.04. Restrictions on Redemption.
The Company may not redeem any Notes on any date if the principal amount of the Notes has been accelerated in accordance with the
terms of this Indenture, and such acceleration has not been rescinded, on or prior to the Redemption Date (except in the case of
an acceleration resulting from a Default by the Company in the payment of the Redemption Price with respect to such Notes).

 

Article
17

Miscellaneous Provisions

 

Section 17.01. Provisions Binding on
Company’s Successors. All the covenants, stipulations, promises and agreements of the Company contained in this Indenture
shall bind its successors and assigns whether so expressed or not.

 

Section 17.02. Official Acts by Successor
Corporation. Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any
board, committee or Officer of the Company shall and may be done and performed with like force and effect by the like board, committee
or officer of any corporation or other entity that shall at the time be the lawful sole successor of the Company.

 

Section 17.03. Addresses for Notices,
Etc. Any notice or demand that by any provision of this Indenture is required or permitted to be given or served by the Trustee
or by the Holders on the Company shall be deemed to have been sufficiently given or made, for all purposes if given or served by
being deposited postage prepaid by registered or certified mail in a post office letter box addressed (until another address is
filed by the Company with the Trustee) to PTC Therapeutics, Inc., 100 Corporate Court, South Plainfield, N.J. 07080 (fax: (908)
222-1128); Attention: Chief Legal Officer. Any notice, direction, request or demand hereunder to or upon the Trustee shall be deemed
to have been sufficiently given or made, for all purposes, if given or served by being deposited postage prepaid by registered
or certified mail in a post office letter box addressed to the Corporate Trust Office or transmitted by facsimile transmission
(confirmed by guaranteed overnight courier).

 

The Trustee, by notice to the Company, may
designate additional or different addresses for subsequent notices or communications.

 

Any notice or communication mailed to a
Holder shall be mailed to it by first class mail, postage prepaid, at its address as it appears on the Note Register and shall
be sufficiently given to it if so mailed within the time prescribed.

 

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 the addressee receives it.

 

In case by reason of the suspension of regular
mail service or by reason of any other cause it shall be impracticable to give such notice to Holders by mail, then such notification
as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder.

 

    86

     

    

 

Notwithstanding any other provision of this
Indenture or any Note, where this Indenture or any Note provides for notice of any event (including any notice of redemption or
repurchase) to a Holder of a Global Note (whether by mail or otherwise), such notice shall be sufficiently given if given to the
Depositary (or its designee) pursuant to the standing instructions from the Depositary or its designee, including by electronic
mail in accordance with the Depositary’s operational arrangements or other applicable Depositary requirements.

 

Section 17.04. Governing Law; Jurisdiction.
THIS INDENTURE AND EACH NOTE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS INDENTURE 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).

 

The Company irrevocably consents and agrees,
for the benefit of the Holders from time to time of the Notes and the Trustee, that any legal action, suit or proceeding against
it with respect to obligations, liabilities or any other matter arising out of or in connection with this Indenture or the Notes
may be brought in the courts of the State of New York or the courts of the United States located in the Borough of Manhattan, New
York City, New York and, until amounts due and to become due in respect of the Notes have been paid, hereby irrevocably consents
and submits to the non-exclusive jurisdiction of each such court in personam, generally and unconditionally with respect
to any action, suit or proceeding for itself in respect of its properties, assets and revenues.

 

The Company irrevocably and unconditionally
waives, to the fullest extent permitted by law, any objection which it may now or hereafter have to the laying of venue of any
of the aforesaid actions, suits or proceedings arising out of or in connection with this Indenture brought in the courts of the
State of New York or the courts of the United States located in the Borough of Manhattan, New York City, New York and hereby further
irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding
brought in any such court has been brought in an inconvenient forum.

 

Section 17.05. Evidence of Compliance
with Conditions Precedent; Certificates and Opinions of Counsel to Trustee. 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

 

(b)           
an Opinion of Counsel stating that, in the opinion of such counsel, any such conditions precedent provided for in this Indenture
relating to the proposed action, to the extent that the determination of compliance with such conditions precedent requires a legal
conclusion (but not as to any determination that requires a conclusion with respect to factual matters), have been complied with.

 

    87

     

    

 

Section 17.06. Statements Required in
Certificate or Opinion. (a) Each Officer’s Certificate with respect to compliance with a covenant or condition provided
for in this Indenture shall include:

 

(i)           
a statement that the Officer of the Company making such Officer’s Certificate has read such covenant or condition;

 

(ii)           a
brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained
in such Officer’s Certificate are based;

 

(iii)          a
statement that, in the opinion of such Officer of the Company, he or she has made such examination or investigation as is necessary
to enable him or her to express an informed judgment as to whether or not such covenant or condition has been complied with; and

 

(iv)          a
statement that, in the opinion of such Officer of the Company, such covenant or condition has been complied with.

 

(b)           
Each Opinion of Counsel with respect to compliance with a covenant or condition provided for in this Indenture shall include:

 

(i)           
a statement that such counsel providing the Opinion of Counsel has read such covenant or condition;

 

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

 

(iii)           a statement that such counsel made such examination that such counsel has deemed necessary as a basis for the opinions contained
in such Opinion of Counsel; and

 

(iv)          to the extent that a determination of compliance with such covenant or condition requires a legal conclusion (but not if
such determination requires a conclusion with respect to factual matters), a statement that in the opinion of such counsel such
covenant or condition has been complied with.

 

Section 17.07. Legal Holidays. In
any case where any Interest Payment Date, Fundamental Change Repurchase Date, Conversion Date or Maturity Date is not a Business
Day, then any action to be taken on such date need not be taken on such date, but may be taken on the next succeeding Business
Day with the same force and effect as if taken on such date, and no interest shall accrue in respect of the delay.

 

Section 17.08. No Security Interest Created.
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.

 

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Section 17.09. Benefits of Indenture.
Nothing in this Indenture or in the Notes, expressed or implied, shall give to any Person, other than the Holders, the parties
hereto, any Paying Agent, any Conversion Agent, any authenticating agent, any Note Registrar, any Bid Solicitation Agent and their
successors hereunder, any benefit or any legal or equitable right, remedy or claim under this Indenture.

 

Section 17.10. Table of Contents, Headings,
Etc. The table of contents and the titles and headings of the articles and sections of this Indenture have been inserted for
convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms
or provisions hereof.

 

Section 17.11. Authenticating Agent.
The Trustee may appoint an authenticating agent that shall be authorized to act on its behalf and subject to its direction in the
authentication and delivery of Notes in connection with the original issuance thereof and transfers and exchanges of Notes hereunder,
including under ‎Section 2.04, ‎Section 2.05, ‎Section 2.06, ‎Section 2.07, ‎Section 10.04 and ‎Section
15.04 as fully to all intents and purposes as though the authenticating agent had been expressly authorized by this Indenture and
those Sections to authenticate and deliver Notes. For all purposes of this Indenture, the authentication and delivery of Notes
by the authenticating agent shall be deemed to be authentication and delivery of such Notes “by the Trustee” and a
certificate of authentication executed on behalf of the Trustee by an authenticating agent shall be deemed to satisfy any requirement
hereunder or in the Notes for the Trustee’s certificate of authentication. Such authenticating agent shall at all times be
a Person eligible to serve as trustee hereunder pursuant to ‎Section 7.09.

 

Any corporation or other entity into which
any authenticating agent may be merged or converted or with which it may be consolidated, or any corporation or other entity resulting
from any merger, consolidation or conversion to which any authenticating agent shall be a party, or any corporation or other entity
succeeding to the corporate trust business of any authenticating agent, shall be the successor of the authenticating agent hereunder,
if such successor corporation or other entity is otherwise eligible under this Section, without the execution or filing of any
paper or any further act on the part of the parties hereto or the authenticating agent or such successor corporation or other entity.

 

Any authenticating agent may at any time
resign by giving written notice of resignation to the Trustee and to the Company. The Trustee may at any time terminate the agency
of any authenticating agent by giving written notice of termination to such authenticating agent and to the Company. Upon receiving
such a notice of resignation or upon such a termination, or in case at any time any authenticating agent shall cease to be eligible
under this Section, the Trustee may appoint a successor authenticating agent (which may be the Trustee), shall give written notice
of such appointment to the Company and shall mail notice of such appointment to all Holders as the names and addresses of such
Holders appear on the Note Register.

 

The Company agrees to pay to the authenticating
agent from time to time reasonable compensation for its services although the Company may terminate the authenticating agent, if
it determines such agent’s fees to be unreasonable.

 

    89

     

    

 

The provisions of ‎Section 7.02, ‎Section
7.03, ‎Section 7.04, ‎Section 8.03 and this ‎Section 17.11 shall be applicable to any authenticating agent.

 

If an authenticating agent is appointed
pursuant to this Section, the Notes may have endorsed thereon, in addition to the Trustee’s certificate of authentication,
an alternative certificate of authentication in the following form:

 

__________________________,

as Authenticating Agent, certifies that this is one of the Notes described

in the within-named Indenture.

 

By: ____________________

Authorized Signatory

 

Section 17.12. Execution in Counterparts;
PDF Transmission. This Indenture may be executed in any number of counterparts, each of which shall be an original, but such
counterparts shall together constitute but one and the same instrument. The exchange of copies of this Indenture and of signature
pages by facsimile or PDF 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
PDF shall be deemed to be their original signatures for all purposes.

 

Section 17.13. Severability. In the
event any provision of 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.

 

Section 17.14. Waiver of Jury Trial.
EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT
TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED
HEREBY.

 

Section 17.15. Force Majeure. In
no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising
out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages,
accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions,
loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee
shall use reasonable efforts that are consistent with accepted practices in the banking industry to resume performance as soon
as practicable under the circumstances.

 

Section 17.16. Calculations. Except
as otherwise provided in this Indenture, the Company shall be responsible for making all calculations called for under the Notes.
These calculations include, but are not limited to, determinations of the Last Reported Sale Prices of the Common Stock, the Daily
VWAPs, the Daily Conversion Values, the Daily Settlement Amounts, accrued interest payable on the Notes (including any Additional
Interest) and the Conversion Rate of the Notes. The Company shall make all these calculations in good faith and, absent manifest
error, the Company’s calculations shall be final and binding on Holders of Notes. The Company shall provide a schedule of
its calculations to each of the Trustee, the Paying Agent and the Conversion Agent, and each of the Trustee, the Paying Agent and
Conversion Agent is entitled to rely conclusively upon the accuracy of the Company’s calculations without independent verification.
The Trustee will forward the Company’s calculations to any Holder of Notes upon the written request of that Holder at the
sole cost and expense of the Company.

 

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Section 17.17. USA Patriot Act. The
Company acknowledges that, in accordance with Section 326 of the U.S.A. PATRIOT Act, the Trustee, like all financial institutions
and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify and record information
that identifies each person or legal entity that establishes a relationship or opens an account with the Trustee. The Company agrees
that it will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of
the U.S.A. PATRIOT Act.

 

[Remainder of page intentionally left
blank]

 

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

 

	 	PTC THERAPEUTICS, INC.
	 	 
	 	By:	/s/ Mark. E. Boulding
	 		Name:	Mark E. Boulding
	 		Title:	Executive Vice President, Chief Legal Officer and Assistant Secretary
	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, as Trustee
	 	 	 	 
	 	By:	/s/ Alicia Pelletier
	 	 	Name:	Alicia Pelletier
	 	 	Title:	Officer

  

[Signature Page to Indenture]

 

    

     

    

 

EXHIBIT A

 

[FORM OF FACE OF NOTE]

 

[INCLUDE FOLLOWING LEGEND
IF A GLOBAL NOTE]

 

[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 HEREUNDER 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 FOLLOWING LEGEND
IF A RESTRICTED SECURITY]

 

[THIS SECURITY AND
THE COMMON STOCK, IF ANY, ISSUABLE UPON CONVERSION OF THIS SECURITY HAVE 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 IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL BUYER” (WITHIN THE MEANING OF RULE 144A
UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, AND

 

(2) AGREES
FOR THE BENEFIT OF PTC THERAPEUTICS, INC. (THE “COMPANY”) THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER
THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE
DATE HEREOF OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THERETO
AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT:

 

(A) TO THE
COMPANY OR ANY SUBSIDIARY THEREOF, OR

 

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

 

    A-1

     

    

 

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

 

(D) 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 CLAUSE (2)(D) ABOVE, THE COMPANY AND THE TRUSTEE RESERVE 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 EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]

 

    A-2

     

    

 

PTC Therapeutics, Inc.

1.50% Convertible Senior Note due 2026

 

	No. [_____]	[Initially]1
$[_________]

 

CUSIP No. 69366J AC5

 

PTC THERAPEUTICS, 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 $287,500,000
in aggregate at any time, in accordance with the rules and procedures of the Depositary, on September 15, 2026, and interest thereon
as set forth below.

 

This Note shall bear interest at the rate
of 1.50% per year from September 20, 2019, 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 September 15, 2026. Interest is payable semi-annually in arrears on each
March 15 and September 15, commencing on March 15, 2020, to Holders of record at the close of business on the preceding March 1
and September 1 (whether or not such day is a Business Day), respectively. Accrued interest on this Note shall be computed on the
basis of a 360 day year composed of twelve 30 day months and, for partial months, on the basis of the number of days actually elapsed
in a 30 day month. Additional Interest will be payable as set forth in ‎Section 4.06(d), ‎Section 4.06(e) and ‎Section
6.03 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
4.06(d), ‎Section 4.06(e) or ‎Section 6.03, 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.

 

Any Defaulted Amounts shall accrue interest
per annum at the rate borne by the Notes, subject to the enforceability thereof under applicable law, from, and including, the
relevant payment date to, but excluding, the date on which such Defaulted Amounts shall have been paid by the Company, at its election,
in accordance with ‎Section 2.03(c) of the Indenture.

 

 

 

1
Include if a global note.

 

2
Include if a global note.

 

3
Include if a physical note.

 

4
Include if a global note.

 

5
Include if a physical note.

 

    A-3

     

    

 

The Company shall pay or cause its Paying
Agent to pay the principal of and interest on this Note, so long as such Note is a Global Note, in immediately available funds
to the Depositary or its nominee, as 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 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
Note Registrar in respect of the Notes and its agency in the contiguous United States, 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, and any claim, controversy
or dispute arising under or related to 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).

 

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 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.

 

	 	PTC THERAPEUTICS, INC.
	 	 
	 	By:	 
	 		Name:
	 		Title:

 

Dated: September 20, 2019

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

U.S. BANK NATIONAL ASSOCIATION

as Trustee, certifies that this is one of the Notes described

in the within-named Indenture.

 

	By	 	 
		Authorized Signatory	 

  

[Signature Page to Global Note]

 

    A-5

     

    

 

[FORM OF REVERSE OF NOTE]

 

PTC Therapeutics, Inc.

1.50% Convertible Senior Note due 2026

 

This Note is one of a duly authorized issue
of Notes of the Company, designated as its 1.50% Convertible Senior Notes due 2026 (the “Notes”), limited to
the aggregate principal amount of $287,500,000 all issued or to be issued under and pursuant to an Indenture dated as of September
20, 2019 (the “Indenture”), between the Company and U.S. Bank National Association (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 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.

 

In case an Event of Default, 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 Repurchase 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 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 the principal (including the Fundamental Change Repurchase Price, if applicable) of and accrued and unpaid interest on this
Note at the place, at the respective times, at the rate and in the lawful money herein prescribed.

 

The Notes are issuable in registered form
without coupons in denominations of $1,000 principal amount and integral multiples in excess 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, with payment of a sum sufficient to cover any transfer or similar tax 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.

 

    A-6

     

    

 

The Notes shall be redeemable at the Company’s
option on or after September 20, 2023 in accordance with the terms and conditions specified in the Indenture.

 

Upon the occurrence of a Fundamental Change,
the Holder has the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s
Notes or any portion thereof (in principal amounts of $1,000 or integral multiples in excess thereof) on the Fundamental Change
Repurchase Date at a price equal to the Fundamental Change Repurchase 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 second Scheduled Trading 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 and shares of Common Stock,
if any, at 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 A6

 

SCHEDULE OF EXCHANGES OF NOTES

PTC Therapeutics, Inc.

1.50% Convertible Senior Notes due 2026

 

The initial principal amount of this Global
Note is TWO HUNDRED EIGHTY-SEVEN MILLION FIVE HUNDRED THOUSAND DOLLARS ($287,500,000). 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
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

 

 

6
Include if a global note.

 

    A-9

     

    

 

ATTACHMENT 1

 

[FORM OF NOTICE OF CONVERSION]

 

	To:	U.S. Bank National Association

		Global Corporate Trust Services, 225 Asylum Street, 23rd
Floor

		Hartford, Connecticut 06103

		Attention: A. Pelletier (PTC Therapeutics, 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
in excess thereof) below designated, into, at the Company’s election, 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, if any in accordance with ‎Section 14.02(d) and ‎Section 14.02(e) 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.

 

    1

     

    

 

 Fill in for registration of shares if

to be issued, and Notes if to

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

 

    2

     

    

 

ATTACHMENT 2

 

[FORM OF FUNDAMENTAL CHANGE REPURCHASE NOTICE]

 

	To:	U.S. Bank National Association
		Global Corporate Trust Services, 225 Asylum Street, 23rd
    Floor
		Hartford, Connecticut 06103
		Attention: A. Pelletier (PTC Therapeutics, Inc.)

 

The undersigned registered owner of this
Note hereby acknowledges receipt of a notice from PTC Therapeutics, Inc. (the “Company”) as to the occurrence
of a Fundamental Change with respect to the Company and specifying the Fundamental Change Repurchase Date and requests and instructs
the Company to pay to the registered holder hereof in accordance with ‎Section 15.02 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 in
excess thereof) below designated, and (2) if such Fundamental Change Repurchase Date does not fall during the period after a Regular
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 Repurchase Date.

 

In the case of Physical 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.

 

    1

     

    

 

ATTACHMENT 3

 

[FORM OF ASSIGNMENT AND TRANSFER]

 

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

 

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 PTC Therapeutics, 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; 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.

 

    1

     

    

 

	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.

 

    2

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