Document:

EX-4.2

  

Exhibit 4.2
  
 
	
	   

  
  
  

V.F. CORPORATION
  
  

Fifth Supplemental Indenture
  
 Dated as of April 23,
2020
  
  
 (Fifth Supplemental to the Indenture Dated as of
October 15, 2007)
  
  
 THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A.,
as Trustee
  
  
  
  

	
	  

  
  
 
	 
	 
	 
 
	 

  
 FIFTH SUPPLEMENTAL INDENTURE, dated as of April 23, 2020 (the
“Fifth Supplemental Indenture”), among V.F. Corporation, a corporation duly organized and existing under the laws of the Commonwealth of Pennsylvania (herein called the “Company”), The Bank
of New York Mellon Trust Company, N.A., formerly known as The Bank of New York Trust Company, N.A., a national banking association, as Trustee (herein called the “Trustee”);

 
 RECITALS:
  
 WHEREAS, the
Company has heretofore executed and delivered to the Trustee an Indenture, dated as of October 15, 2007 (the “Base Indenture,” and together with this Fifth Supplemental Indenture, the
“Indenture”), providing for the issuance from time to time of the Company’s unsecured debentures, notes or other evidences of indebtedness (herein and therein called the “Securities”),
to be issued in one or more series as provided in the Base Indenture;
  
 WHEREAS, Section 9.01 of the Base Indenture
permits the Company and the Trustee to enter into an indenture supplemental to the Base Indenture to establish the form and terms of any series of Securities;
  

WHEREAS, Section 2.01 of the Base Indenture permits the form of Securities of any series to be established in an indenture supplemental to the Base Indenture;

 
 WHEREAS, Section 3.01 of the Base Indenture permits certain terms of any series of Securities to be established
pursuant to an indenture supplemental to the Base Indenture;
  
 WHEREAS, pursuant to Sections 2.01 and 3.01 of the
Base Indenture, the Company desires to provide for the establishment of two new series of Securities under the Base Indenture, the form and substance of such Securities and the terms, provisions and conditions thereof to be set forth as provided in
the Base Indenture and this Fifth Supplemental Indenture;
  
 WHEREAS, all things necessary to make this Fifth
Supplemental Indenture a valid agreement of the Company, in accordance with its terns, have been done;
  
 NOW,
THEREFORE, THIS FIFTH SUPPLEMENTAL INDENTURE WITNESSETH:
  
 For and in consideration of the premises and the purchase
of the Securities established by this Fifth Supplemental Indenture by the Holders thereof (the “Noteholders”), it is mutually agreed, for the equal and proportionate benefit of all such Noteholders, as follows:

 
 ARTICLE 1
DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
  

Section 1.01. Relation to Base Indenture. This Fifth Supplemental Indenture constitutes a part of the Base Indenture (the provisions of which, as modified by this Fifth
Supplemental Indenture, shall apply to each series of Notes) in respect of each series of Notes but shall not modify, amend or otherwise affect the Base Indenture insofar as it relates to any other series of Securities or modify, amend or otherwise
affect in any manner the terms and conditions of the Securities of any other series.
  
 
	
	
	
	

  
 Section 1.02. Definitions. For all purposes of this Fifth Supplemental Indenture, the capitalized
terms used herein (i) which are defined in this Section 1.02 have the respective meanings assigned hereto in this Section 1.02 and (ii) which are defined in the Base Indenture (and which are not defined in this Section 1.02) have the respective
meanings assigned thereto in the Base Indenture. For all purposes of this Fifth Supplemental Indenture:
  
 (a)
Unless the context otherwise requires, any reference to an Article or Section refers to an Article or Section, as the case may be, of this Fifth Supplemental Indenture;

 
 (b) The words “herein,” “hereof” and “hereunder” and
words of similar import refer to this Fifth Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision; and
  

(c) The definition of “Opinion of Counsel” in Section 1.01 of the Base Indenture is hereby amended by replacing “who shall be
acceptable” with “which opinion shall be acceptable”.
  
 (d) The terms
defined in this Section 1.02(c) have the meanings assigned to them in this Section and include the plural as well as the singular:
  

“2022 Notes” has the meaning set forth in Section 2.01(a).
  

“2025 Notes” has the meaning set forth in Section 2.01(a).
  

“2027 Notes” has the meaning set forth in Section 2.01(a).
  

“2030 Notes” has the meaning set forth in Section 2.01(a).
  

“2025 Notes Make Whole Call Date” means March 23, 2025.

 
 “2027 Notes Make Whole Call Date” means February 23,
2027.
  
 “2030 Notes Make Whole Call Date” means
January 23, 2030.
  
 “2022 Notes Maturity Date” has the meaning set
forth in Section 2.01(c).
  
 “2025 Notes Maturity Date” has the meaning
set forth in Section 2.01(c).
  
 “2027 Notes Maturity Date” has the
meaning set forth in Section 2.01(c).
  
 “2030 Notes Maturity Date” has
the meaning set forth in Section 2.01(c).
  
 “Adjusted Treasury Rate” means, for any
redemption date, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for such redemption date. The semi-annual equivalent yield to maturity will be computed as of the third business day immediately preceding the redemption date.
  

	
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 “Applicable Spread” means, (i) 30 basis points
with respect to the 2022 Notes, (ii) 35 basis points with respect to the 2025 Notes, (iii) 40 basis points with respect to the 2027 Notes and (iv) 40 basis points with respect to the 2030 Notes.

 
 “Below Investment Grade Rating Event” means, with respect to each series of Notes, that
the applicable series of Notes are rated below Investment Grade by each of the Rating Agencies on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following
public notice of the occurrence of a Change of Control (which period shall be extended so long as the rating of such Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a
Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event
for purposes of the definition of Change of Control Repurchase Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee in writing
at its request that the reduction was the result, in whole or in part, of any event or circumstance composed of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have
occurred at the time of the Below Investment Grade Rating Event). The Trustee shall not be charged with knowledge of a Below Investment Grade Rating Event unless it has received actual notice thereof.

 
 “Business Day” is any day, other than a Saturday or Sunday, which is not a day on which
banking institutions in the City of New York are authorized or required by law, regulation or executive order to close.
  

“Change of Control” means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way
of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its subsidiaries taken as a whole to any “person” (as that term is used in Section
13(d)(3) of the Exchange Act), other than the Company or one of its subsidiaries; (2) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any “person” (as that term
is used in Section 13(d)(3) of the Exchange Act) becomes the beneficial owner (as such term is used in Sections 13(d)(3) and 13(d)(5) of the Exchange Act), directly or indirectly, of more than 50% of the then outstanding number of shares of the
Company’s Voting Stock; (3) the consummation by the Company of a consolidation with, or merger with or into, any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) or the consummation by any
“person” (as that term is used in Section 13(d)(3) of the Exchange Act) of a consolidation with, or merger with or into, the Company, in any such event pursuant to a transaction in which any of the outstanding Voting Stock of the Company
is converted into or exchanged for cash, securities or other property, other than any such transaction where the Voting Stock of the Company outstanding immediately prior to such transaction constitutes, or is converted into or exchanged for, a
majority of the Voting Stock of the surviving person immediately after giving effect to such transaction; or (4) the adoption of a plan relating to the liquidation or dissolution of the Company.

 
 “Change of Control Notice” has the meaning set forth in Section 5.01.

 
 
	
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 “Change of Control Payment” means, with respect
to any Notes, any amount payable upon repurchase of such Notes pursuant to Article 5.
  
 “Change of
Control Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.
  

“Clearstream” means Clearstream Banking Société Anonyme, Luxembourg.
  

“Code” means the United States Internal Revenue Code of 1986, as amended to the date hereof.

 
 “Comparable Treasury Issue” means a United States treasury security, selected by the
quotation agent, having a maturity comparable to the remaining term of the series of Notes to be redeemed that would be utilized in accordance with customary financial practice in pricing new issues of corporate notes of comparable maturity to the
remaining term of the applicable series of Notes.
  
 “Comparable Treasury Price” means,
for any Redemption Date, the average of the Reference Treasury Dealer Quotations for such Redemption Date, provided that if four or more Reference Treasury Dealer Quotations are obtained, the highest and lowest of such quotations shall be excluded
from the calculation.
  
 “Euroclear” means Euroclear Bank S.A./N.V., as operator of the
Euroclear System.
  
 “Exchange Act” means the Securities Exchange Act of 1934, as
amended.
  
 “Fitch” means Fitch, Inc. or any successor to its rating agency
business.
  
 “Interest Payment Date” has the meaning set forth in Section 2.01(d).

 
 “Interest Period” has the meaning set forth in Section 2.01(d).

 
 “Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent
under any successor rating categories of Moody’s); a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P); and a rating of BBB- or better by Fitch (or its equivalent under any successor
rating categories of Fitch); or the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company.
  

“Make Whole Call Date” means (i) with respect to the 2025 Notes, the 2025 Notes Make Whole Call Date, (ii) with respect to the 2027 Notes, the 2027 Notes Make
Whole Call Date, and (iii) with respect to the 2030 Notes, the 2030 Notes Make Whole Call Date.
  

“Maturity Date” means (i) with respect to the 2022 Notes, the 2022 Notes Maturity Date, (ii) with respect to the 2025 Notes, the 2025 Notes Maturity Date, (iii)
with respect to the 2027 Notes, the 2027 Notes Maturity Date and (iv) with respect to the 2030 Notes, the 2030 Notes Maturity Date.
  
 
	
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 “Moody’s” means Moody’s Investors
Service, Inc. or any successor to its rating agency business.
  
 “Notes” has the meaning
set forth in Section 2.01(a).
  
 “Rating Agency” means (1) each of Fitch, Moody’s
and S&P; and (2) if any of Fitch, Moody’s or S&P ceases to rate the applicable series of Notes or fails to make a rating of such Notes publicly available for reasons outside of the Company’s control, a “nationally
recognized statistical rating organization” within the meaning of Section 3(a)(62) of the Exchange Act, selected by the Company as a replacement agency for Fitch, Moody’s or S&P, as the case may be.

 
 “Quotation Agent” is the Reference Treasury Dealer appointed by us.

 
 “Reference Treasury Dealers” means

 

	  
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	each of Barclays Capital Inc., BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC and their respective successors; provided, however, that if any of the foregoing shall cease to be a
primary U.S. government securities dealer (a “Primary Treasury Dealer”), the Company shall substitute another primary treasury dealer for such Reference Treasury Dealer; and
	  
	  
	  

	  
	 ·
	any other Primary Treasury Dealer selected by us.

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

 
 “S&P” means S&P Global Ratings, a division of S&P Global Inc. or any
successor to its rating agency business.
  
 “Tendered Notes” has the meaning set forth
in Section 5.01(b)(i).
  
 “United States” has the meaning set forth in Section
2.01(l).
  
 “United States person” has the meaning set forth in Section 2.01(l).

 
 “Voting Stock” means, with respect to any person, capital stock of any class or kind the
holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such person, even if the right so to vote has been suspended by the happening of such a
contingency.
  
 
	
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 ARTICLE 2
 GENERAL TERMS AND CONDITIONS OF THE NOTES

 
 Section 2.01. Terms of the Notes. Pursuant to Sections 2.01 and 3.01 of the Base Indenture, there is hereby established (i) a
series of Securities that shall be known and designated as the “2.050% Senior Notes due 2022” (the “2022 Notes”) of the Company, (ii) a series of Securities that shall be known and designated as the
“2.400% Senior Notes due 2025” (the “2025 Notes”) of the Company, (iii) a series of Securities that shall be known and designated as the “2.800% Senior Notes due 2027” (the “2027
Notes”) and (iv) a series of Securities that shall be known and designated as the “2.950% Senior Notes due 2030” (the “2030 Notes” and, together with the 2022 Notes, the 2025 Notes, and the
2027 Notes, the “Notes”) of the Company. The terms of each such series of Notes shall be as follows:
  

(a) Designation and Principal Amount. The 2022 Notes shall be initially limited in aggregate principal amount to $1,000,000,000. The 2025 Notes shall be initially
limited in aggregate principal amount to $750,000,000. The 2027 Notes shall be initially limited in aggregate principal amount to $500,000,000. The 2030 Notes shall be initially limited in aggregate principal amount to $750,000,000. The CUSIP number
of the 2022 Notes is 918204 AZ1 and the ISIN number is US918204AZ14. The CUSIP number of the 2025 Notes is 918204 BA5 and the ISIN number is US918204BA53. The CUSIP number of the 2027 Notes is 918204 BB3 and the ISIN number is US918204BB37.
The CUSIP number of the 2030 Notes is 918204 BC1 and the ISIN number is US918204BC10. If additional Securities of an applicable series of Notes are issued pursuant to Section 3.01 of the Base Indenture, and if such additional Securities are not
fungible with the applicable series of Notes for U.S. federal income tax purposes, such additional Securities shall have one or more separate CUSIP numbers and/or ISIN numbers.

 
 (b) Form and Denominations. Each series of Notes will be issued only in fully
registered form, and the authorized denominations of such Notes shall be $2,000 and integral multiples of $1,000 in excess thereof. The 2022 Notes will initially be issued in the form of one or more Global Securities substantially in the
form of Annex A attached hereto, the 2025 Notes will initially be issued in the form of one or more Global Securities substantially in the form of Annex B attached hereto, the 2027 Notes will initially be issued in the form of one or more Global
Securities substantially in the form of Annex C attached hereto and the 2030 Notes will be initially issued in the form of one or more Global Securities substantially in the form of Annex D attached hereto in each case, with such modifications
thereto as may be approved by the authorized officer executing the same. Each series of Notes will be denominated in dollars and payments of principal and interest will be made in dollars.

 
 (c) Maturity Date. The principal amount of, and all accrued and unpaid interest on,
the 2022 Notes shall be payable in full on April 23, 2022, or if such day is not a Business Day, the following Business Day (the “2022 Notes Maturity Date’’). The principal amount of, and all
accrued and unpaid interest on, the 2025 Notes shall be payable in full on April 23, 2025, or if such day is not a Business Day, the following Business Day (the “2025 Notes Maturity Date’’). The
principal amount of, and all accrued and unpaid interest on, the 2027 Notes shall be payable in full on April 23, 2027, or if such day is not a Business Day, the following Business Day (the “2027 Notes Maturity
Date’’). The principal amount of, and all
  
 
	
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 accrued and unpaid interest on, the 2030 Notes shall be payable in full on April 23, 2030, or if
such day is not a Business Day, the following Business Day (the “2030 Notes Maturity Date’’).
  

(d) Interest. With respect to each series of Notes, interest payable on any Interest Payment Date, the Maturity Date or, if applicable, the Redemption Date shall be
the amount accrued from, and including, the immediately preceding Interest Payment Date in respect of which interest has been paid or duly provided for (or from and including the original issue date of April 23, 2020, if no interest has been paid or
duly provided for with respect to the applicable series of Notes) to, but excluding, such Interest Payment Date, Maturity Date or, if applicable, Redemption Date, as the case may be (each, an “Interest Period”).
The 2022 Notes will bear interest at the rate of 2.050% per year from the original issue date thereof to the 2022 Maturity Date. The 2025 Notes will bear interest at the rate of 2.400% per year from the original issue date thereof to the 2025
Maturity Date. The 2027 Notes will bear interest at the rate of 2.800% per year from the original issue date thereof to the 2027 Maturity Date. The 2030 Notes will bear interest at the rate of 2.950% per year from the original
issue date thereof to the 2030 Maturity Date. Interest on each series of Notes shall be payable semi-annually in arrears on April 23 and October 23 of each year, beginning on October 23, 2020 (each such date, an “Interest
Payment Date”).
  
 With respect to each series of Notes, the amount
of interest payable for any Interest Period shall be computed on the basis of a 360-day year consisting of twelve 30-day months. In the event that any scheduled Interest Payment Date for the applicable series of Notes falls on a day that is not a
Business Day, then payment of interest payable on such Interest Payment Date shall be postponed to the next succeeding day which is a Business Day (and no interest on such payment shall accrue for the period from and after such scheduled Interest
Payment Date).
  
 In the event the Maturity Date or a Redemption Date for the applicable
series of Notes falls on a day that is not a Business Day, then the related payments of principal, premium, if any, and interest may be made on the next succeeding date that is a Business Day (and no additional interest will accumulate on the amount
payable for the period from and after the Maturity Date). With respect to each series of Notes, interest due on the Maturity Date or a Redemption Date (in each case, whether or not an Interest Payment Date) will be paid to the Person to whom
principal of such Notes is payable. 
  
 (e) To Whom Interest is Payable. Interest
shall be payable to the Person in whose name the applicable series of Notes are registered at the close of business on the Business Day next preceding the Interest Payment Date, or in the event the applicable series of Notes cease to be held in the
form of one or more Global Securities, at the close of business on the April 8 or October 8 immediately prior to that Interest Payment Date, whether or not a Business Day.

 
 (f) Place of Payment and Appointment. With respect to each series of Notes,
principal of, the Redemption Price (if any), the Change of Control Payments (if any), and interest on, such series of Notes shall be payable at the office or agency of the Paying Agent; provided, however, that payment of interest may be
made at the option of the Company by check mailed to the Person entitled thereto at such address as shall appear in the applicable Security Register or by wire transfer to an account appropriately designated by the Person entitled to payment. 

 
 
	
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 (g) Security Registrar and Paying Agent. The Company hereby appoints (i) the Trustee, as
the Paying Agent, and (ii) the Trustee as the Security Registrar for each series of Notes. Upon notice to the Trustee, the Company may change any Paying Agent or Security Registrar for any series of Notes. Each series of Notes may be surrendered for
registration of transfer and for exchange at the office or agency of the Company maintained for such purpose in the City of New York, New York and at any other office or agency maintained by the Company for such purpose.

 
 (h) Funding of Payments. With respect to each series of Notes, at least one
Business Day prior to the date that any payment of principal of, the Redemption Price (if any), the Change of Control Payments (if any), or interest on, or any other amount payable in respect of such series of Notes is due and payable, the Company
shall deposit with the Paying Agent an amount of money in dollars sufficient to pay any and all such amounts due and payable in respect of such series of Notes on such payment date.

 
 (i) Sinking Fund; Noteholder Repurchase Right. Each series of Notes shall not be
subject to any sinking fund or analogous provision or be redeemable at the option of the Noteholders.
  

(j) Global Notes. Each series of Notes shall be issued initially in the form of a permanent Global Security or Global Securities in registered form and shall initially
be deposited with, or on behalf of, The Depository Trust Company (“DTC”), and registered in the name of DTC’s nominee, Cede & Co. Except under the circumstance described below, the Notes will not be issuable in definitive form.
Unless and until each such Global Security is exchanged for the individual series of Notes in certificated form, each such Global Security may not be transferred, except as a whole by DTC to a nominee of DTC, or by a nominee of DTC to DTC or another
nominee of DTC or by DTC or any nominee of DTC to a successor depositary or any nominee of such successor Depositary.
  
 With respect to
each series of Notes, if, (i) DTC is no longer willing or able to discharge its responsibilities properly, and neither the Trustee nor the Company have approved a qualified successor within 90 days or (ii) a Noteholder of the applicable series of
Notes shall so request upon the occurrence and continuance of an Event of Default with respect to the applicable series of Notes, the Company will issue Notes of such series in definitive form in authorized denominations in exchange, in whole or in
part, as the case may be, for the applicable Global Security that had been held by the Depositary. Any Notes issued in definitive form in exchange for a Global Security will be registered in the name or names that the Depositary gives to the Trustee
or relevant agent of the Company or the Trustee. The Company expects that the Depositary’s instructions will be based upon directions received by the Depositary from participants with respect to ownership of beneficial interests in the
applicable Global Security that had been held by the Depositary. In addition, the Company may at any time determine that the Notes of the applicable series of Notes shall no longer be represented by a Global Security and will issue Notes of such
series in definitive form in exchange for such Global Security pursuant to the procedure described above.
  
 Section
2.02. FATCA. In order to assist the Trustee and any Paying Agent with its compliance with Sections 1471 through 1474 of the Code and the rules and regulations 
  

	 
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 thereunder (as in effect from time to time, collectively, the “Applicable
Law”), the Company agrees (i) to provide, upon request, the Trustee and any Paying Agent information within the Company’s possession, which the Company is legally entitled to provide and is reasonably necessary for the
Trustee’s and any Paying Agent’s determination of whether it has tax related obligations with respect to the applicable series of Notes under Applicable Law and (ii) that the Trustee and any Paying Agent shall be entitled to make any
withholding or deduction from payments under the Indenture and the applicable series of Notes to the extent necessary to comply with Applicable Law. Nothing in the immediately preceding sentence shall be construed as obligating the Company to make
any “gross up” payment or similar reimbursement in connection with a payment in respect of which amounts are so withheld or deducted.
  

ARTICLE 3
 DEFEASANCE
  
 Section 3.01.
Defeasance. Until the Maturity Date, each series of Notes will be subject to Article 13 of the Base Indenture; provided, however, that, solely with respect to each series of Notes:

 
 (a) Section 13.04(b) of the Base Indenture is hereby amended by replacing “Holders” in the eighth line thereof
with “beneficial owners”.
  
 (b) Section 13.04(c) of the Base Indenture is
hereby amended by replacing “Holders” in the fourth line thereof with “beneficial owners”.
  
 ARTICLE 4
REDEMPTION OF THE
NOTES 
  
 Section 4.01. Optional Redemption. The Notes of each series are subject to redemption, in whole or in part, at any
time, upon not less than 30 nor more than 60 days’ notice sent to each Noteholder of the applicable series of Notes to be redeemed at such Noteholder’s address as it appears in the Securities Register: 

 
 (a) solely in respect of the 2025 Notes, 2027 Notes and 2030 Notes, on any date prior to the applicable Make Whole Call
Date, and in respect of the 2022 Notes, on any date prior to the 2022 Notes Maturity Date, at a Redemption Price equal to the greater of (i) 100% of the principal amount of such Notes to be redeemed or (ii) the sum, as determined by a quotation
agent appointed by the Company, of the present value of the remaining scheduled payments of principal and interest on the Notes to be redeemed as if (solely in respect of the 2025 Notes, 2027 Notes and 2030 Notes) such Notes matured on the
applicable Make Whole Call Date (excluding any portion of such payments of interest accrued as of the Redemption Date), discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the
Adjusted Treasury Rate, plus the Applicable Spread, plus, in each case, accrued and unpaid interest thereon, to, but excluding, the Redemption Date; and
  

(b) solely in respect of the 2025 Notes, 2027 Notes and 2030 Notes, on and after the applicable Make Whole Call Date, at a Redemption Price equal to 100% of the principal
amount of the applicable series of Notes then outstanding to be redeemed, plus accrued and unpaid interest thereon, to, but excluding, the Redemption Date;
  

	
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 provided that unless the Company defaults in payment of the Redemption Price, on or after the
Redemption Date, interest will cease to accrue on such Notes or portions thereof called for redemption.
  
 Section 4.02. [Reserved].

 
 Section 4.03. Notes Redeemed in Part. If less than all of the Notes of a particular series of Notes are to be
redeemed, such Notes to be redeemed shall be selected by the Trustee pro rata or by lot, but consistent with any applicable procedures of DTC, Euroclear and Clearstream and any applicable listing standards. In the event of redemption of the
applicable series of Notes in part only, a new Note or Notes of like tenor of the unredeemed portion thereof (which shall not be less than the minimum authorized denomination for the applicable series of Notes) shall be issued in the name of the
Holder thereof upon cancellation thereof.
  
 Section 4.04. Redemption Procedures. Any redemption of Notes
pursuant to this Article 4 shall be conducted in accordance with the applicable procedures set forth in Article 11 of the Base Indenture to the extent not otherwise set forth herein.
 
ARTICLE
5
CHANGE OF CONTROL REPURCHASE EVENT
  
 Section 5.01. Change of Control Repurchase Event.

 
 (a) If a Change of Control Repurchase Event with respect to the Notes of any series occurs, unless the Company has exercised
its right to redeem all the Notes of the applicable series, the Company shall make an offer to each Noteholder of the applicable series to repurchase all or any part (in integral multiples of $1,000) of that Noteholder’s Notes of such series
at a repurchase price in cash equal to 101% of the aggregate principal amount of such Notes repurchased plus any accrued and unpaid interest on such Notes repurchased, to, but excluding, the date of repurchase. Within 30 days following any
such Change of Control Repurchase Event or, at the Company’s option, prior to any Change of Control, but after the public announcement of an impending Change of Control, the Company shall send a notice (a “Change of Control
Notice”) to each Noteholder of the applicable series of Notes, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase
the Notes of such series on the payment date specified in the Change of Control Notice, which date will be no earlier than 30 days and no later than 60 days from the date such Change of Control Notice is sent. The Change of Control Notice
shall, if sent prior to the date of consummation of the Change of Control, state that the offer to repurchase is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment date specified in the Change of Control
Notice.
  
 The Company shall comply with the requirements of Rule 14e-1 under the Exchange
Act and any other securities laws and regulations thereunder, to the extent those laws and regulations are applicable in connection with the repurchase of the Notes of the applicable series as a result of a Change of Control Repurchase Event.
To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the Notes of the applicable series, the Company shall comply with the applicable securities laws and 

 
 
	
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 regulations and shall not be deemed to have breached its obligations under this Section 5.01 by virtue of such
conflict.
  
 (b) On the Change of Control Repurchase Event payment date with respect to a series of Notes, the Company
shall, to the extent lawful, with respect to the applicable series of Notes:
  
 (i) accept
for payment all Notes or portions of Notes of the applicable series (in integral multiples of $1,000) properly tendered pursuant to the Company’s offer (“Tendered Notes”);

 
 (ii) deposit, at least one Business Day prior to the applicable payment date, with the
Paying Agent in immediately available funds an amount equal to the aggregate repurchase price in respect of all Tendered Notes of the applicable series; and
  

(iii) deliver or cause to be delivered to the Trustee the Tendered Notes of the applicable series, together with an officers’ certificate stating that such Tendered Notes
have been properly accepted by the Company and stating the aggregate principal amount of such Tendered Notes being purchased by the Company.
  

(c) The Paying Agent shall promptly transmit to each Noteholder of the applicable series holding Tendered Notes the repurchase price for such Tendered Notes, and the Trustee
shall, to the extent necessary, promptly authenticate and deliver (or cause to be transferred by book-entry) to each such Noteholder a new security equal in principal amount to any unpurchased portion of any Tendered Notes of the applicable series
surrendered; provided that each new security will be in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof.
  

(d) The Company shall not be required to make an offer to repurchase the applicable series of Notes upon a Change of Control Repurchase Event if a third party makes such an
offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all of the Notes of the applicable series properly tendered and not withdrawn under its offer. In
addition, the Company shall not be required to make an offer to repurchase the applicable series of Notes upon a Change of Control Repurchase Event if such Notes have been or are called for redemption by the Company prior to it being required to
deliver notice of the Change of Control Repurchase Event, and thereafter redeems all of the applicable series of Notes called for redemption in accordance with the terms set forth in such redemption notice. 

 
 (e) Notwithstanding anything to the contrary contained herein, a revocable offer to
repurchase the applicable series of Notes upon a Change of Control Repurchase Event may be made in advance of a Change of Control Repurchase Event, conditioned upon the consummation of the relevant Change of Control Repurchase Event, if a definitive
agreement is in place for the applicable Change of Control at the time such offer to repurchase is made.
  
 
	
	11
	
	

  
 ARTICLE 6
MISCELLANEOUS
  

Section 6.01. Relationship to Existing Base Indenture. This Fifth Supplemental Indenture is a supplemental indenture within the meaning of the Base Indenture. The Base
Indenture, as supplemented and amended by this Fifth Supplemental Indenture, is in all respects ratified, confirmed and approved and, with respect to the Notes, the Base Indenture, as supplemented and amended by this Fifth Supplemental Indenture,
shall be read, taken and construed as one and the same instrument.
  
 Section 6.02. Modification of The Existing
Base Indenture. Except as expressly modified by this Fifth Supplemental Indenture, the provisions of the Base Indenture shall govern the terms and conditions of the Notes.

 
 Section 6.03. Certain Rights of the Trustee. 
  

(a) Section 6.03(d) of the Base Indenture is hereby amended by (i) adding in the fourth line thereof after “faith and in” the word “conclusive” and (ii)
adding in the fourth line thereof after the word “thereon” the words “without liability”.
  

(b) Section 6.03 of the Base Indenture is hereby amended by adding new clauses (h), (i) and (j) following Section 6.03(g) as follows:

 
 “(h) delivery of reports, information and financial statements to the Trustee is for informational purposes only and
the Trustee’s receipt of such shall not constitute actual or constructive notice of any information contained therein;
  

(i) the Trustee will not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved that the Trustee was negligent in
ascertaining the pertinent facts; 
  
 (j) the Trustee will not be liable for any action it takes or omits to take in good
faith that it believes to be authorized or within its rights or powers or for any action it takes or omits to take in accordance with the direction of the requisite Holders; and
  

(k) the Trustee shall not be deemed to have notice of default or the occurrence of an Event of Default until a Responsible Officer has received written notice of such default
or such occurrence of an Event of Default.”
  
 Section 6.04. [Reserved.] 

 
 Section 6.05. Governing Law. This instrument and each series of Notes shall be governed by and construed in
accordance with the laws of the State of New York.
  
 Section 6.06. Submission to Jurisdiction. To the
fullest extent permitted by applicable law, the Company, the Trustee, the Paying Agent and, by accepting Notes, each Holder irrevocably submits to the non-exclusive jurisdiction of any federal or State court located in the

 
 
	
	 12

	
	

  
 Borough of Manhattan in The City of New York, New York in any suit, action or proceeding based on or arising
out of or relating to the Indenture or any Notes and irrevocably agrees that all claims in respect of such suit or proceeding may be determined in any such court. The Company, the Trustee, the Paying Agent and, by accepting Notes, each Holder
irrevocably waives, to the fullest extent permitted by law, any objection which they may have to the laying of the venue of any such suit, action or proceeding brought in an inconvenient forum. 

 
 Section 6.07. Counterparts. This instrument may be executed in any number of counterparts, each of which so executed shall be
deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or
relating to this Agreement or any document to be signed in connection with this Agreement shall be deemed to include electronic signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect,
validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, and the parties hereto consent to conduct the transactions contemplated hereunder by
electronic means. The Trustee may authenticate the Notes by manual, facsimile or electronic signature.
  
 Section
6.08. Trustee and Paying Agent Makes No Representation. The recitals contained herein are made by the Company and not by the Trustee or the Paying Agent, and each of the Trustee and the Paying Agent assumes no responsibility for the
correctness thereof. Each of the Trustee and the Paying Agent makes no representation as to the validity or sufficiency of this Fifth Supplemental Indenture (except for its execution thereof and by the Trustee’s certificates of
authentication of the Notes).
  
 Section 6.09. Waiver of Jury Trial. THE COMPANY, THE TRUSTEE, THE PAYING
AGENT AND, BY ACCEPTING THE NOTES, EACH HOLDER 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 THE INDENTURE, THE NOTES OR THE
TRANSACTION CONTEMPLATED THEREBY.
  
 Section 6.10. No Personal Liability of Directors, Officers, Employees and
Stockholders. No past, present or future director, officer, employee, incorporator, or direct or indirect member, partner or stockholder of the Company (other than in its capacity as the Company) or of any of its direct or indirect parent
companies shall have any liability, for any obligations of the Company under the Notes or the Indenture or any supplemental indenture or for any claim based on, in respect of, or by reason of such obligations or their creation. Each Holder by
accepting Notes waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes.
  

Section 6.11. Consequential Loss. In no event shall the Trustee or the Paying Agent be responsible or liable for special, indirect, punitive or consequential loss or damage of any
kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee or the Paying Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

 
 
	
	13
	
	

  
 Section 6.12. Force Majeure. In no event shall the Trustee or the Paying Agent 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 and
the Paying Agent shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.

 
 Section 6.13. Trustee and Paying Agent Notices. Each notice or communication under this Fifth Supplemental
Indenture to or by the Trustee or Paying Agent shall be made in writing, by fax, email or otherwise in accordance with this section. Each communication or document to be delivered to any party under this Fifth Supplemental Indenture shall be sent to
that party at the fax number, email address or address, and marked for the attention of the person (if any), from time to time designated by that party to the Trustee or Paying Agent (or, in the case of the Trustee or Paying Agent, by it to each
other party) for the purpose of this Fifth Supplemental Indenture. The initial telephone number, fax number, email address, address and person so designated are:
  

To the Company at:
  
 8505 E. Orchard Road

 
 Greenwood Village, Colorado 80111
  

Tel: (720) 778-4000
  
 Fax: 

 
 Email: laura_meagher@vfc.com
  

To the Trustee or Paying Agent: 
  
 The Bank of
New York Mellon Trust Company, N.A. 
  
 10161 Centurion Parkway N., 2nd Floor

 
 Jacksonville, FL 32256 
  

Attention: Corporate Trust Administration
  
 Fax:
(904) 645-1921
  
 Email: barbara.salls@bnymellon.com
  

All notices under this Fifth Supplemental Indenture by or to the Paying Agent or the Trustee shall be effective (if by fax or email) when good receipt is confirmed by the recipient following 

 
 
	 
	14
	  

	 

  
 inquiry by the sender and (if in writing) when delivered, except that a communication received outside normal business
hours shall be deemed to be received on the next business day in the city in which the recipient is located.
  
 In no event shall the
Paying Agent or the Trustee be liable for any losses arising from the Paying Agent or the Trustee receiving any data from an authorized person via any non-secure method of transmission or communication, such as but without limitation, by facsimile
or email. The Company accepts that some methods of communication are not secure and the Paying Agent or the Trustee shall not incur any liability for receiving instructions via any such non-secure method. The Paying Agent or the Trustee is
authorized to comply with and rely upon any such notice, instruction or other communications reasonably believed by it to have been sent or given by an authorized person. The Company shall use all reasonable endeavors to ensure that instructions
transmitted to the Paying Agent or the Trustee pursuant to this Fifth Supplemental Indenture are complete and correct. Any instructions shall be conclusively deemed to be valid instructions from the Company to the Paying Agent or the Trustee for the
purposes of this Fifth Supplemental Indenture.
  
 Section 6.14. PATRIOT ACT. In order to comply with laws, rules, regulations
and executive orders in effect from time to time applicable to banking institutions, including those relating to the funding of terrorist activities and money laundering and the Customer Identification Program (“CIP”) requirements under
the USA PATRIOT Act and its implementing regulations, pursuant to which the Trustee or Paying Agent must obtain, verify and record information that allows the Paying Agent to identify customers (“Applicable Law”), the Trustee or Paying
Agent is required to obtain, verify and record certain information relating to individuals and entities which maintain a business relationship with the Trustee or Paying Agent. Accordingly, the Company agrees to provide to the Paying Agent upon its
request from time to time such identifying information and documentation as may be available for such party in order to enable the Trustee or Paying Agent to comply with Applicable Law, including, but not limited to, information as to name, physical
address, tax identification number and other information that will help the Trustee or Paying Agent to identify and verify such Company such as organizational documents, certificates of good standing, licenses to do business or other pertinent
identifying information.
  
 [Signature Pages Follow]
  

	
	15
	 

	

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

	 	V.F. CORPORATION	
	 	 	 	 
		By:	/s/ Scott A. Roe	
	  
	  
	Scott A. Roe	 
	 	 	Executive Vice President and Chief Financial Officer	 

  

	Attest:	
	 	 	 
	By:	/s/ Laura C. Meagher  	
	  
	Laura C. Meagher	 
	 	Executive Vice President, 	 
	 	General Counsel and Secretary	 

  
 
	 	 	 	 
		By:	/s/ Omorlie Harris	
	  
	  
	Omorlie Harris	 
	 	 	Vice President, Treasurer	  
	 	 	 	 

  

	Attest:	
	 	 	 
	By:	/s/ Mark R. Townsend	
	  
	Mark R. Townsend	 
	 	Assistant General Counsel	 
	 	and Assistant Secretary	 

  
 
	 
	
	 
 
	 

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

		By:	/s/ Lawrence M. Kusch 	
	  
	  
	Lawrence M. Kusch	 
	 	 	Vice President	  

   
 
	 
	
	 
 
	 

  
 ANNEX A
  

[THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY
MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE.
  
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY
PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), 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 only if a Global Note]
  
 
	
	A-1
	 

	

  
 V.F. CORPORATION
  

2.050% Senior Notes due 2022
  
 
	 No. [_______] 
	  
	 ISIN: US918204AZ14
 CUSIP: 918204 AZ1
$[_______]

 
 V.F. CORPORATION, a corporation duly incorporated and subsisting under the laws of the Commonwealth of Pennsylvania (herein called the
“Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to [CEDE&CO.]* [_______], or registered assigns, the principal sum of
$1,000,000,000 on April 23, 2022, [as such amount may be changed from time to time pursuant to the Schedule of Exchanges of Interests attached hereto,]* and to pay interest thereon from April 23, 2020 or from the most recent Interest Payment Date to
which interest has been paid or duly provided for, semi-annually in arrears on April 23 and October 23 in each year, commencing on October 23, 2020, at the rate of 2.050% per annum, until the principal hereof is paid or made available for
payment. The amount of interest payable for any Interest Period shall be computed on the basis of a 360-day year consisting of twelve 30-day months. In the event that any scheduled Interest Payment Date for this Notes falls on a day that is
not a Business Day, then payment of interest payable on such Interest Payment Date shall be postponed to the next succeeding day which is a Business Day (and no interest on such payment shall accrue for the period from and after such scheduled
Interest Payment Date).
  
 The interest so payable, and punctually paid or duly provided for, on any Interest Payment
Date will, as provided in such Indenture, be paid to the Person in whose name this Note is registered at the close of business on the Business Day next preceding the relevant Interest Payment Date, or in the event the Notes cease to be held in the
form of one or more Global Notes, at the close of business on the April 8 or October 8 immediately prior to that Interest Payment Date (the “Regular Record Date”), whether or not a Business Day. Any such
interest not so punctually paid or duly provided for will forthwith cease to be payable to the Noteholder on such Regular Record Date and may either be paid to the Person in whose name this Note is registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Noteholders of Notes of this series not less than ten days prior to such Special Record Date, or be paid at any time in any other
lawful manner not inconsistent with the requirements of any securities exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.

 
 Principal of, the Redemption Price (if any), the Change of Control Payments (if any), and interest on, the Notes shall
be payable at the office or agency of the Paying Agent; provided, however, that payment of interest may be made at the option of the Company by check mailed to the Person entitled thereto at such address as shall appear in the Security
Register or by wire transfer to an account appropriately designated by the Person entitled to payment. 
  
 
	
	A-2
	
	

  
 At least one Business Day prior to the date that any payment of principal of,
the Redemption Price (if any), the Change of Control Payments (if any), or interest on, or any other amount payable in respect of the Notes is due and payable, the Company shall deposit with the Paying Agent an amount of money in dollars sufficient
to pay any and all such amounts due and payable in respect of the Notes on such payment date.
  
 The Company has
appointed (i) The Trustee, as the Paying Agent, and (ii) the Trustee as the Security Registrar for the Notes. Upon notice to the Trustee, the Company may change any Paying Agent or Security Registrar. The Notes may be surrendered for registration of
transfer and for exchange at the office or agency of the Company maintained for such purpose in the City of New York, New York and at any other office or agency maintained by the Company for such purpose.

 
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further
provisions shall for all purposes have the same effect as if set forth at this place.
  
 Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual, facsimile or electronic signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 
 
	
	A-3
	 

	

  
 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal.

 

	 	 V.F. CORPORATION
	
	 	 	 	 
		By:		
	  
	  
	Name	 
	 	 	Title	 
	 	 	 	 

  

	 Attest:
	
	 	 	 
	By:		
	  
	Name	 
	 	Title	 
	 	 	 

  

	 	 	 	 
		By:		
	  
	  
	Name	 
	 	 	Title	 
	 	 	 	 

  

	 Attest:
	
	 	 	 
	By:		
	  
	Name	 
	 	Title	 

  

	 
	A-4
	  

	 

  
 This is one of the Notes of the series designated therein referred to in the within-mentioned Indenture.

 
 Dated: [_____], 20[__]
  
 
	 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
	 
	  
	  
	  
	  

		By:		
	  
	  
	Authorized Signatory	 

  
 
	
	A-5
	 

	

  
 [Reverse of Note]
  

This Note is one of a duly authorized issue of notes of the Company (herein called the “Notes”), issued and to be issued in one or more series under an
Indenture, dated as of October 15, 2007 (herein called the “Base Indenture”, which term shall have the meaning assigned to it in such instrument), as supplemented by a Fifth Supplemental Indenture, dated as of April 23,
2020 (herein called the “Fifth Supplemental Indenture” and together with the Base Indenture, the “Indenture”), among the Company and The Bank of New York Mellon Trust Company, N.A., formerly
known as The Bank of New York Trust Company, N.A., a national banking association, as Trustee (the “Trustee”) and Paying Agent, and reference is hereby made to the Indenture for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the Trustee, the Paying Agent and the Noteholders, and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series
designated on the face hereof, initially limited in aggregate principal amount to $1,000,000,000. The Company may at any time issue additional notes under the Indenture in unlimited amounts having the same terms as the Notes.

 
 The terms of the Notes include those stated in the Indenture and those made part of the Indenture and the provisions
of the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”). The Notes are subject to all such terms, and Noteholders are referred to the Indenture and the Trust Indenture Act for a statement of such
terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture and those other provisions forming a part thereof with respect to the Notes, the provisions of the Indenture and such other provisions with
respect to the Notes shall govern and be controlling.
  
 The Notes are subject to redemption, in whole or in part, at
any time, upon not less than 30 nor more than 60 days’ notice sent to each Noteholder of Notes to be redeemed at such Noteholder’s address as it appears in the Securities Register: 

 
 (A) on any date prior to the 2022 Notes Maturity Date at a Redemption Price equal to the greater of (i)
100% of the principal amount of such Notes to be redeemed or (ii) the sum, as determined by a quotation agent appointed by the Company, of the present value of the remaining scheduled payments of principal and interest on the Notes to be redeemed
(excluding any portion of such payments of interest accrued as of the Redemption Date), discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Adjusted Treasury Rate,
plus the Applicable Spread, plus, in each case, accrued and unpaid interest thereon, to, but excluding, the Redemption Date.
  

provided that unless the Company defaults in payment of the Redemption Price, on or after the Redemption Date, interest will cease to accrue on the Notes or portions thereof called
for redemption.
  
 The Notes do not have the benefit of any sinking fund obligations.

 
 If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by the Trustee pro rata
or by lot, but consistent with any applicable listing standards. In the event of redemption of Notes in part only, a new Note or Notes of like tenor of the 
  

	 
	A-6
	  

	 

  
 unredeemed portion thereof (which shall not be less than the minimum authorized denomination for the
Notes) shall be issued in the name of the Holder thereof upon cancellation thereof.
  
 If a Change of Control Repurchase Event with
respect to the Notes occurs, unless the Company has exercised its right to redeem all the Notes, the Company shall make an offer to each Noteholder of the Notes to repurchase all or any part (in integral multiples of $1,000) of that
Noteholder’s Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of Notes repurchased plus any accrued and unpaid interest on the Notes repurchased, to, but excluding, the date of repurchase. Within 30
days following any such Change of Control Repurchase Event or, at the Company’s option, prior to any Change of Control, but after the public announcement of an impending Change of Control, the Company shall send a notice (a
“Change of Control Notice”) to each Noteholder, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase
the Notes on the payment date specified in the Change of Control Notice, which date will be no earlier than 30 days and no later than 60 days from the date such Change of Control Notice is sent. The Change of Control Notice shall, if sent
prior to the date of consummation of the Change of Control, state that the offer to repurchase is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment date specified in the Change of Control Notice.

 
 The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and
regulations thereunder, to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any securities laws or
regulations conflict with the Change of Control Repurchase Event provisions of the Notes, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under the Indenture by
virtue of such conflict.
  
 On the Change of Control Repurchase Event payment date, the Company shall, to
the extent lawful, with respect to the Notes:
  
 (A) accept for payment all Notes or portions of Notes (in
integral multiples of $1,000) properly tendered pursuant to the Company’s offer (“Tendered Notes”);
  

(B) deposit with the Trustee a cash amount in immediately available funds equal to the aggregate repurchase price in respect of all Tendered Notes; and

 
 (C) deliver or cause to be delivered to the Trustee the Tendered Notes, together with an
officers’ certificate stating that such Tendered Notes have been properly accepted by the Company and stating the aggregate principal amount of Tendered Notes being purchased by the Company.

 
 The Paying Agent shall promptly transmit to each Noteholder of Tendered Notes the repurchase price for the Tendered
Notes, and the Trustee shall, to the extent necessary, promptly authenticate and deliver (or cause to be transferred by book-entry) to each such Noteholder a new note equal in principal amount to any unpurchased portion of any Tendered Notes;
provided 
  
 
	 
	A-7
	  

	 

  
 that each new note will be in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 
 The Company shall not be required to make an offer to repurchase the Notes upon a Change of Control Repurchase Event if a third party
makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not withdrawn under its offer. In addition, the Company
shall not be required to make an offer to repurchase the Notes upon a Change of Control Repurchase Event if the Notes have been or are called for redemption by the Company prior to it being required to deliver notice of the Change of Control
Repurchase Event, and thereafter redeems all Notes called for redemption in accordance with the terms set forth in such redemption notice. 
  

Notwithstanding anything to the contrary contained herein, a revocable offer to repurchase the Notes upon a Change of Control Repurchase Event may be made in advance of a Change of Control
Repurchase Event, conditioned upon the consummation of the relevant Change of Control Repurchase Event, if a definitive agreement is in place for the applicable Change of Control at the time such offer to repurchase is made.

 
 The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Note or certain
restrictive covenants and Events of Default with respect to this Note, in each case upon compliance with certain conditions set forth in the Indenture.
  

If an Event of Default with respect to Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and payable in the manner and with
the effect provided in the Indenture.
  
 Subject to certain exceptions, the Indenture or the Notes of any series
thereunder may be amended or supplemented pursuant to Article 9 of the Base Indenture.
  
 No reference herein to the
Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and
in the coin or currency, herein prescribed.
  
 As provided in the Indenture and subject to certain limitations
therein set forth, the transfer of this Note is registrable in the Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on
this Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Noteholder hereof or his attorney duly authorized in writing, and
thereupon one or more new Notes of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.

 
 The Notes of this series are issuable only in registered form without coupons in minimum denominations of $2,000 and
integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes of this series are 
  

	 
	A-8
	  

	 

  
 exchangeable for a like aggregate principal amount of Notes of this series and of like tenor of a different authorized
denomination, as requested by the Noteholder surrendering the same.
  
 No service charge shall be made to a Noteholder for any such
registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.
  

Prior to due presentment of this Note for registration of transfer, the Company, the Trustee, the Paying Agent and any agent of the Company or the Trustee may treat the Person in whose name
this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 
 The Company has caused CUSIP and ISIN numbers to be printed on the Notes of this series and the Trustee or Registrar
may use CUSIP and ISIN numbers in notices of redemption or offers to repurchase as a convenience to Noteholders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption
or offer to repurchase.
  
 All terms used in this Note which are defined in the Indenture shall have the meanings
assigned to them in the Indenture.
  
 THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK.
  
 
	
	A-9
	 

	

  
 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY *
  

The initial outstanding principal amount of this Global Security is $______________. 
  

The following exchanges of a part of this Global Security for an interest in another Global Security or for Security in certificated form, or exchanges of a part of another Global Security
or Security in certificated form for an interest in this Global Security, have been made:
  

	 Date of Exchange
	  
	 Amount of
decrease in
Principal
Amount of this Global Security
	  
	 Amount of
increase in
Principal
Amount of this Global Security
	  
	 Principal
Amount of this Global Security
following such decrease or
increase
	  
	 Signature of 
authorized
officer of Trustee
or Custodian

	  
  
	  
	  
	  
	  
	  
	  
	  
	  

  
 ________________________
  

*This schedule should be included only if the Note is issued in global form.
  
 
	
	A-10
	 

	

  
 ANNEX B
  

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY
NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES
DESCRIBED IN THE INDENTURE.
  
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), 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.
  
 
	
	B-1
	 

	

  
 V.F. CORPORATION
  

2.400% Senior Notes due 2025
  
 
	 No. [_______] 
	  
	 ISIN: US918204BA53
CUSIP: 918204 BA5
$[_______]

  

V.F. CORPORATION, a corporation duly incorporated and subsisting under the laws of the Commonwealth of Pennsylvania (herein called the “Company,” which term
includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to [CEDE & CO.]* [_______], or registered assigns, the principal sum of $750,000,000 on April 23, 2025, [as such amount
may be changed from time to time pursuant to the Schedule of Exchanges of Interests attached hereto,]* and to pay interest thereon from April 23, 2020 or from the most recent Interest Payment Date to which interest has been paid or duly provided
for, semi-annually in arrears on April 23 and October 23 in each year, commencing on October 23, 2020, at the rate of 2.400% per annum, until the principal hereof is paid or made available for payment. The amount of interest payable for any
Interest Period shall be computed on the basis of a 360-day year consisting of twelve 30-day months. In the event that any scheduled Interest Payment Date for this Notes falls on a day that is not a Business Day, then payment of interest payable on
such Interest Payment Date shall be postponed to the next succeeding day which is a Business Day (and no interest on such payment shall accrue for the period from and after such scheduled Interest Payment Date).

 
 The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in
such Indenture, be paid to the Person in whose name this Note is registered at the close of business on the Business Day next preceding the relevant Interest Payment Date, or in the event the Notes cease to be held in the form of one or more Global
Notes, at the close of business on the April 8 or October 8 immediately prior to that Interest Payment Date (the “Regular Record Date”), whether or not a Business Day. Any such interest not so punctually paid or
duly provided for will forthwith cease to be payable to the Noteholder on such Regular Record Date and may either be paid to the Person in whose name this Note is registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Noteholders of Notes of this series not less than ten days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the
requirements of any securities exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.

 
 Principal of, the Redemption Price (if any), the Change of Control Payments (if any), and interest on, the Notes shall
be payable at the office or agency of the Paying Agent; provided, however, that payment of interest may be made at the option of the Company by check mailed to the Person entitled thereto at such address as shall appear in the Security
Register or by wire transfer to an account appropriately designated by the Person entitled to payment. 
  
 
	
	B-2
	
	

  
 At least one Business Day prior to the date that any payment of principal of,
the Redemption Price (if any), the Change of Control Payments (if any), or interest on, or any other amount payable in respect of the Notes is due and payable, the Company shall deposit with the Paying Agent an amount of money in dollars sufficient
to pay any and all such amounts due and payable in respect of the Notes on such payment date.
  
 The Company has
appointed (i) The Trustee, as the Paying Agent, and (ii) the Trustee as the Security Registrar for the Notes. Upon notice to the Trustee, the Company may change any Paying Agent or Security Registrar. The Notes may be surrendered for registration of
transfer and for exchange at the office or agency of the Company maintained for such purpose in the City of New York, New York and at any other office or agency maintained by the Company for such purpose.

 
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further
provisions shall for all purposes have the same effect as if set forth at this place.
  
 Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual, facsimile or electronic signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 
 
	
	B-3
	 

	

  
 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal.

 

	 	 V.F. CORPORATION
	
	 	 	 	 
		By:		
	  
	  
	Name	 
	 	 	Title	 
	 	 	 	 

  

	 Attest:
	
	 	 	 
	By:		
	  
	Name	 
	 	Title	 
	 	 	 

  

	 	 	 	 
		By:		
	  
	  
	Name	 
	 	 	Title	 
	 	 	 	 

  

	 Attest:
	
	 	 	 
	By:		
	  
	Name	 
	 	Title	 

  

	 
	B-4
	  

	 

  
  
 This is one of the Notes of the series
designated therein referred to in the within-mentioned Indenture.
  
 Dated: [_____], 20[__]

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

		By:		
	  
	  
	Authorized Signatory	 

  
 
	
	B-5
	 

	

  
 [Reverse of Note]
  

This Note is one of a duly authorized issue of notes of the Company (herein called the “Notes”), issued and to be issued in one or more series under an
Indenture, dated as of October 15, 2007 (herein called the “Base Indenture”, which term shall have the meaning assigned to it in such instrument), as supplemented by a Fifth Supplemental Indenture, dated as of April 23,
2020 (herein called the “Fifth Supplemental Indenture” and together with the Base Indenture, the “Indenture”), among the Company and The Bank of New York Mellon Trust Company, N.A., formerly
known as The Bank of New York Trust Company, N.A., a national banking association, as Trustee (the “Trustee”) and Paying Agent, and reference is hereby made to the Indenture for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the Trustee, the Paying Agent and the Noteholders, and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series
designated on the face hereof, initially limited in aggregate principal amount to $750,000,000. The Company may at any time issue additional notes under the Indenture in unlimited amounts having the same terms as the Notes.

 
 The terms of the Notes include those stated in the Indenture and those made part of the Indenture and the provisions
of the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”). The Notes are subject to all such terms, and Noteholders are referred to the Indenture and the Trust Indenture Act for a statement of such
terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture and those other provisions forming a part thereof with respect to the Notes, the provisions of the Indenture and such other provisions with
respect to the Notes shall govern and be controlling.
  
 The Notes are subject to redemption, in whole or in part, at
any time, upon not less than 30 nor more than 60 days’ notice sent to each Noteholder of Notes to be redeemed at such Noteholder’s address as it appears in the Securities Register: 

 
 (A) on any date prior to the Make Whole Call Date at a Redemption Price equal to the greater of (i) 100%
of the principal amount of such Notes to be redeemed or (ii) the sum, as determined by a quotation agent appointed by the Company, of the present value of the remaining scheduled payments of principal and interest on the Notes to be redeemed if such
Notes matured on the Make Whole Call Date (excluding any portion of such payments of interest accrued as of the Redemption Date), discounted to the Redemption Date on an semi-annual basis (assuming a 360-day year consisting of twelve 30-day months)
at the applicable Adjusted Treasury Rate, plus the Applicable Spread, plus, in each case, accrued and unpaid interest thereon, to, but excluding, the Redemption Date; and

 
 (B) on and after the Make Whole Call Date, at a Redemption Price equal to 100% of the
principal amount of the Notes then outstanding to be redeemed, plus accrued and unpaid interest thereon, to, but excluding, the Redemption Date;
  

provided that unless the Company defaults in payment of the Redemption Price, on or after the Redemption Date, interest will cease to accrue on the Notes or portions thereof called for
redemption.
  
 
	
	B-6
	
	

  
 The Notes do not have the benefit of any sinking fund obligations.

 
 If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by the Trustee pro rata
or by lot, but consistent with any applicable listing standards. In the event of redemption of Notes in part only, a new Note or Notes of like tenor of the unredeemed portion thereof (which shall not be less than the minimum authorized denomination
for the Notes) shall be issued in the name of the Holder thereof upon cancellation thereof.
  
 If a Change of Control
Repurchase Event with respect to the Notes occurs, unless the Company has exercised its right to redeem all the Notes, the Company shall make an offer to each Noteholder of the Notes to repurchase all or any part (in integral multiples of $1,000) of
that Noteholder’s Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of Notes repurchased plus any accrued and unpaid interest on the Notes repurchased, to, but excluding, the date of repurchase.
Within 30 days following any such Change of Control Repurchase Event or, at the Company’s option, prior to any Change of Control, but after the public announcement of an impending Change of Control, the Company shall send a notice (a
“Change of Control Notice”) to each Noteholder, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase
the Notes on the payment date specified in the Change of Control Notice, which date will be no earlier than 30 days and no later than 60 days from the date such Change of Control Notice is sent. The Change of Control Notice shall, if sent
prior to the date of consummation of the Change of Control, state that the offer to repurchase is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment date specified in the Change of Control Notice.

 
 The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and
regulations thereunder, to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any securities laws or
regulations conflict with the Change of Control Repurchase Event provisions of the Notes, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under the Indenture by
virtue of such conflict.
  
 On the Change of Control Repurchase Event payment date, the Company shall, to the extent
lawful, with respect to the Notes:
  
 (A) accept for payment all Notes or portions of Notes (in integral multiples of
$1,000) properly tendered pursuant to the Company’s offer (“Tendered Notes”);
  

(B) deposit with the Trustee a cash amount in immediately available funds equal to the aggregate repurchase price in respect of all Tendered Notes; and

 
 (C) deliver or cause to be delivered to the Trustee the Tendered Notes, together with an
officers’ certificate stating that such Tendered Notes have been properly accepted by the Company and stating the aggregate principal amount of Tendered Notes being purchased by the Company.

 
 
	 
	B-7
	  

	 

  
 The Paying Agent shall promptly transmit to each Noteholder of Tendered Notes the
repurchase price for the Tendered Notes, and the Trustee shall, to the extent necessary, promptly authenticate and deliver (or cause to be transferred by book-entry) to each such Noteholder a new note equal in principal amount to any unpurchased
portion of any Tendered Notes; provided that each new note will be in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof.
  

The Company shall not be required to make an offer to repurchase the Notes upon a Change of Control Repurchase Event if a third party makes such an offer in the manner, at the times and
otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not withdrawn under its offer. In addition, the Company shall not be required to make an offer to
repurchase the Notes upon a Change of Control Repurchase Event if the Notes have been or are called for redemption by the Company prior to it being required to deliver notice of the Change of Control Repurchase Event, and thereafter redeems all
Notes called for redemption in accordance with the terms set forth in such redemption notice. 
  
 Notwithstanding
anything to the contrary contained herein, a revocable offer to repurchase the Notes upon a Change of Control Repurchase Event may be made in advance of a Change of Control Repurchase Event, conditioned upon the consummation of the relevant Change
of Control Repurchase Event, if a definitive agreement is in place for the applicable Change of Control at the time such offer to repurchase is made.
  

The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Note or certain restrictive covenants and Events of Default with respect to this Note, in
each case upon compliance with certain conditions set forth in the Indenture.
  
 If an Event of Default with respect
to Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and payable in the manner and with the effect provided in the Indenture.

 
 Subject to certain exceptions, the Indenture or the Notes of any series thereunder may be amended or supplemented
pursuant to Article 9 of the Base Indenture.
  
 No reference herein to the Indenture and no provision of this Note or
of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and in the coin or currency, herein
prescribed.
  
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of
this Note is registrable in the Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Note are payable, duly
endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Noteholder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of
this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.
  

	
	B-8
	
	

  
 The Notes of this series are issuable only in registered form without coupons
in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes of this series are exchangeable for a like aggregate principal
amount of Notes of this series and of like tenor of a different authorized denomination, as requested by the Noteholder surrendering the same.
  

No service charge shall be made to a Noteholder for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
  
 Prior to due presentment of this Note for registration of
transfer, the Company, the Trustee, the Paying Agent and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the
Company, the Trustee nor any such agent shall be affected by notice to the contrary.
  
 The Company has caused CUSIP
and ISIN numbers to be printed on the Notes of this series and the Trustee or Registrar may use CUSIP and ISIN numbers in notices of redemption or offers to repurchase as a convenience to Noteholders. No representation is made as to the accuracy of
such numbers either as printed on the Notes or as contained in any notice of redemption or offer to repurchase.
  

All terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 
 THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK.
  
 
	 
	B-9
	 
 
	 

  
 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY *

 
 The initial outstanding principal amount of this Global Security is $______________. 

 
 The following exchanges of a part of this Global Security for an interest in another Global Security or for Security in
certificated form, or exchanges of a part of another Global Security or Security in certificated form for an interest in this Global Security, have been made:
  

	 Date of Exchange
	  
	 Amount of
decrease in
Principal
Amount of this Global Security
	  
	 Amount of
increase in
Principal
Amount of this Global Security
	  
	 Principal
Amount of this Global Security
following such decrease or
increase
	  
	 Signature of 
authorized
officer of Trustee
or Custodian

	  
  
	  
	  
	  
	  
	  
	  
	  
	  

  
 ________________________
  

*This schedule should be included only if the Note is issued in global form.
  
 
	
	B-10
	 

	

  
 ANNEX C
  

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS
SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE.
  
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY
PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), 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.
  
 
	
	C-1
	 

	

  
 V.F. CORPORATION
  

2.800% Senior Notes due 2027
  
 
	 No. [_______] 
	  
	 ISIN: US918204BB37
CUSIP: 918204 BB3
$[_______]

  

V.F. CORPORATION, a corporation duly incorporated and subsisting under the laws of the Commonwealth of Pennsylvania (herein called the “Company,” which term
includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to [CEDE & CO.]* [_______], or registered assigns, the principal sum of $500,000,000 on April 23, 2027, [as such amount
may be changed from time to time pursuant to the Schedule of Exchanges of Interests attached hereto,]* and to pay interest thereon from April 23, 2020 or from the most recent Interest Payment Date to which interest has been paid or duly provided
for, semi-annually in arrears on April 23 and October 23 in each year, commencing on October 23, 2020, at the rate of 2.800% per annum, until the principal hereof is paid or made available for payment. The amount of interest payable for any
Interest Period shall be computed on the basis of a 360-day year consisting of twelve 30-day months. In the event that any scheduled Interest Payment Date for this Notes falls on a day that is not a Business Day, then payment of interest payable on
such Interest Payment Date shall be postponed to the next succeeding day which is a Business Day (and no interest on such payment shall accrue for the period from and after such scheduled Interest Payment Date).

 
 The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in
such Indenture, be paid to the Person in whose name this Note is registered at the close of business on the Business Day next preceding the relevant Interest Payment Date, or in the event the Notes cease to be held in the form of one or more Global
Notes, at the close of business on the April 8 or October 8 immediately prior to that Interest Payment Date (the “Regular Record Date”), whether or not a Business Day. Any such interest not so punctually paid or
duly provided for will forthwith cease to be payable to the Noteholder on such Regular Record Date and may either be paid to the Person in whose name this Note is registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Noteholders of Notes of this series not less than ten days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the
requirements of any securities exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.

 
 Principal of, the Redemption Price (if any), the Change of Control Payments (if any), and interest on, the Notes shall
be payable at the office or agency of the Paying Agent; provided, however, that payment of interest may be made at the option of the Company by check mailed to the Person entitled thereto at such address as shall appear in the Security
Register or by wire transfer to an account appropriately designated by the Person entitled to payment. 
  
 
	
	C-2
	
	

  
 At least one Business Day prior to the date that any payment of principal of,
the Redemption Price (if any), the Change of Control Payments (if any), or interest on, or any other amount payable in respect of the Notes is due and payable, the Company shall deposit with the Paying Agent an amount of money in dollars sufficient
to pay any and all such amounts due and payable in respect of the Notes on such payment date.
  
 The Company has
appointed (i) The Trustee, as the Paying Agent, and (ii) the Trustee as the Security Registrar for the Notes. Upon notice to the Trustee, the Company may change any Paying Agent or Security Registrar. The Notes may be surrendered for registration of
transfer and for exchange at the office or agency of the Company maintained for such purpose in the City of New York, New York and at any other office or agency maintained by the Company for such purpose.

 
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further
provisions shall for all purposes have the same effect as if set forth at this place.
  
 Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual, facsimile or electronic signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 
 
	
	C-3
	 

	

  
 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal.

 
 
	 	 V.F. CORPORATION
	
	 	 	 	 
		By:		
	  
	  
	Name	 
	 	 	Title	 
	 	 	 	 

  
 
	 Attest:
	
	 	 	 
	By:		
	  
	Name	 
	 	Title	 
	 	 	 

  

	 	 	 	 
		By:		
	  
	  
	Name	 
	 	 	Title	 
	 	 	 	 

  

	 Attest:
	
	 	 	 
	By:		
	  
	Name	 
	 	Title	 

  

	 
	C-4
	  

	 

  
 This is one of the Notes of the series designated therein referred to in the within-mentioned
Indenture.
  
 Dated: [_____], 20[__]
  
 
	 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
	 
	  
	  
	  
	  

		By:		
	  
	  
	Authorized Signatory	 

   
 
	 
	C-5
	 
 
	 

  
 [Reverse of Note]
  

This Note is one of a duly authorized issue of notes of the Company (herein called the “Notes”), issued and to be issued in one or more series under an
Indenture, dated as of October 15, 2007 (herein called the “Base Indenture”, which term shall have the meaning assigned to it in such instrument), as supplemented by a Fifth Supplemental Indenture, dated as of April 23,
2020 (herein called the “Fifth Supplemental Indenture” and together with the Base Indenture, the “Indenture”), among the Company, The Bank of New York Mellon Trust Company, N.A., formerly
known as The Bank of New York Trust Company, N.A., a national banking association, as Trustee (the “Trustee”), and Paying Agent, and reference is hereby made to the Indenture for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the Trustee, the Paying Agent and the Noteholders, and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series
designated on the face hereof, initially limited in aggregate principal amount to $500,000,000. The Company may at any time issue additional notes under the Indenture in unlimited amounts having the same terms as the Notes.

 
 The terms of the Notes include those stated in the Indenture and those made part of the Indenture and the provisions
of the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”). The Notes are subject to all such terms, and Noteholders are referred to the Indenture and the Trust Indenture Act for a statement of such
terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture and those other provisions forming a part thereof with respect to the Notes, the provisions of the Indenture and such other provisions with
respect to the Notes shall govern and be controlling.
  
 The Notes are subject to redemption, in whole or in part, at
any time, upon not less than 30 nor more than 60 days’ notice sent to each Noteholder of Notes to be redeemed at such Noteholder’s address as it appears in the Securities Register: 

 
 (A) on any date prior to the Make Whole Call Date at a Redemption Price equal to the greater of (i) 100%
of the principal amount of such Notes to be redeemed or (ii) the sum, as determined by a quotation agent appointed by the Company, of the present value of the remaining scheduled payments of principal and interest on the Notes to be redeemed if such
Notes matured on the Make Whole Call Date (excluding any portion of such payments of interest accrued as of the Redemption Date), discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months)
at the applicable Adjusted Treasury Rate, plus the Applicable Spread, plus, in each case, accrued and unpaid interest thereon, to, but excluding, the Redemption Date; and

 
 (B) on and after the Make Whole Call Date, at a Redemption Price equal to 100% of the
principal amount of the Notes then outstanding to be redeemed, plus accrued and unpaid interest thereon, to, but excluding, the Redemption Date;
  

provided that unless the Company defaults in payment of the Redemption Price, on or after the Redemption Date, interest will cease to accrue on the Notes or portions thereof called for
redemption.
  
 
	
	C-6
	
	

  
 The Notes do not have the benefit of any sinking fund obligations.

 
 If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by the Trustee pro rata
or by lot, but consistent with any applicable listing standards. In the event of redemption of Notes in part only, a new Note or Notes of like tenor of the unredeemed portion thereof (which shall not be less than the minimum authorized denomination
for the Notes) shall be issued in the name of the Holder thereof upon cancellation thereof.
  
 If a Change of Control
Repurchase Event with respect to the Notes occurs, unless the Company has exercised its right to redeem all the Notes, the Company shall make an offer to each Noteholder of the Notes to repurchase all or any part (in integral multiples of $1,000) of
that Noteholder’s Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of Notes repurchased plus any accrued and unpaid interest on the Notes repurchased, to, but excluding, the date of repurchase.
Within 30 days following any such Change of Control Repurchase Event or, at the Company’s option, prior to any Change of Control, but after the public announcement of an impending Change of Control, the Company shall send a notice (a
“Change of Control Notice”) to each Noteholder, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase
the Notes on the payment date specified in the Change of Control Notice, which date will be no earlier than 30 days and no later than 60 days from the date such Change of Control Notice is sent. The Change of Control Notice shall, if sent
prior to the date of consummation of the Change of Control, state that the offer to repurchase is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment date specified in the Change of Control Notice.

 
 The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and
regulations thereunder, to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any securities laws or
regulations conflict with the Change of Control Repurchase Event provisions of the Notes, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under the Indenture by
virtue of such conflict.
  
 On the Change of Control Repurchase Event payment date, the Company shall, to the extent
lawful, with respect to the Notes:
  
 (A) accept for payment all Notes or portions of Notes (in integral
multiples of $1,000) properly tendered pursuant to the Company’s offer (“Tendered Notes”);
  

(B) deposit with the Trustee a cash amount in immediately available funds equal to the aggregate repurchase price in respect of all Tendered Notes; and

 
 (C) deliver or cause to be delivered to the Trustee the Tendered Notes, together with an
officers’ certificate stating that such Tendered Notes have been properly accepted by the Company and stating the aggregate principal amount of Tendered Notes being purchased by the Company.

 
 
	
	C-7
	
	

  
 The Paying Agent shall promptly transmit to each Noteholder of Tendered Notes
the repurchase price for the Tendered Notes, and the Trustee shall, to the extent necessary, promptly authenticate and deliver (or cause to be transferred by book-entry) to each such Noteholder a new note equal in principal amount to any unpurchased
portion of any Tendered Notes; provided that each new note will be in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof.
  

The Company shall not be required to make an offer to repurchase the Notes upon a Change of Control Repurchase Event if a third party makes such an offer in the manner, at the times and
otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not withdrawn under its offer. In addition, the Company shall not be required to make an offer to
repurchase the Notes upon a Change of Control Repurchase Event if the Notes have been or are called for redemption by the Company prior to it being required to deliver notice of the Change of Control Repurchase Event, and thereafter redeems all
Notes called for redemption in accordance with the terms set forth in such redemption notice. 
  
 Notwithstanding
anything to the contrary contained herein, a revocable offer to repurchase the Notes upon a Change of Control Repurchase Event may be made in advance of a Change of Control Repurchase Event, conditioned upon the consummation of the relevant Change
of Control Repurchase Event, if a definitive agreement is in place for the applicable Change of Control at the time such offer to repurchase is made.
  

The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Note or certain restrictive covenants and Events of Default with respect to this Note, in
each case upon compliance with certain conditions set forth in the Indenture.
  
 If an Event of Default with respect
to Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and payable in the manner and with the effect provided in the Indenture.

 
 Subject to certain exceptions, the Indenture or the Notes of any series thereunder may be amended or supplemented
pursuant to Article 9 of the Base Indenture.
  
 No reference herein to the Indenture and no provision of this Note or
of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and in the coin or currency, herein
prescribed.
  
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of
this Note is registrable in the Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Note are payable, duly
endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Noteholder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of
this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.
  

	
	C-8
	
	

  
 The Notes of this series are issuable only in registered form without coupons
in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes of this series are exchangeable for a like aggregate principal
amount of Notes of this series and of like tenor of a different authorized denomination, as requested by the Noteholder surrendering the same.
  

No service charge shall be made to a Noteholder for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
  
 Prior to due presentment of this Note for registration of
transfer, the Company, the Trustee, the Paying Agent and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the
Company, the Trustee nor any such agent shall be affected by notice to the contrary.
  
 The Company has caused CUSIP
and ISIN numbers to be printed on the Notes of this series and the Trustee or Registrar may use CUSIP and ISIN numbers in notices of redemption or offers to repurchase as a convenience to Noteholders. No representation is made as to the accuracy of
such numbers either as printed on the Notes or as contained in any notice of redemption or offer to repurchase.
  

All terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 
 THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK.
  
 
	
	C-9
	 

	

  
 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY *
  

The initial outstanding principal amount of this Global Security is $______________. 
  

The following exchanges of a part of this Global Security for an interest in another Global Security or for Security in certificated form, or exchanges of a part of another Global Security
or Security in certificated form for an interest in this Global Security, have been made:
  
 
	 Date of Exchange
	  
	 Amount of
decrease in
Principal
Amount of this Global Security
	  
	 Amount of
increase in
Principal
Amount of this Global Security
	  
	 Principal
Amount of this Global Security
following such decrease or
increase
	  
	 Signature of 
authorized
officer of Trustee
or Custodian

	  
  
	  
	  
	  
	  
	  
	  
	  
	  

  
 ________________________
  

*This schedule should be included only if the Note is issued in global form.
  
 
	
	C-10
	 

	

  
 ANNEX D
  

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY
NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES
DESCRIBED IN THE INDENTURE.
  
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), 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.
  
 
	
	D-1
	 

	

  
 V.F. CORPORATION
  

2.950% Senior Notes due 2030
  
 
	 No. [_______] 
	  
	 ISIN: US918204BC10
CUSIP: 918204BC1 
$[_______]

  

V.F. CORPORATION, a corporation duly incorporated and subsisting under the laws of the Commonwealth of Pennsylvania (herein called the “Company,” which term
includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to [CEDE & CO.]* [_______], or registered assigns, the principal sum of $750,000,000 on April 23, 2030, [as such amount
may be changed from time to time pursuant to the Schedule of Exchanges of Interests attached hereto,]* and to pay interest thereon from April 23, 2020 or from the most recent Interest Payment Date to which interest has been paid or duly provided
for, semi-annually in arrears on April 23 and October 23 in each year, commencing on October 23, 2020, at the rate of 2.950% per annum, until the principal hereof is paid or made available for payment. The amount of interest payable for any
Interest Period shall be computed on the basis of a 360-day year consisting of twelve 30-day months. In the event that any scheduled Interest Payment Date for this Notes falls on a day that is not a Business Day, then payment of interest payable on
such Interest Payment Date shall be postponed to the next succeeding day which is a Business Day (and no interest on such payment shall accrue for the period from and after such scheduled Interest Payment Date).

 
 The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in
such Indenture, be paid to the Person in whose name this Note is registered at the close of business on the Business Day next preceding the relevant Interest Payment Date, or in the event the Notes cease to be held in the form of one or more Global
Notes, at the close of business on the April 8 or October 8 immediately prior to that Interest Payment Date (the “Regular Record Date”), whether or not a Business Day. Any such interest not so punctually paid or
duly provided for will forthwith cease to be payable to the Noteholder on such Regular Record Date and may either be paid to the Person in whose name this Note is registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Noteholders of Notes of this series not less than ten days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the
requirements of any securities exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.

 
 Principal of, the Redemption Price (if any), the Change of Control Payments (if any), and interest on, the Notes shall
be payable at the office or agency of the Paying Agent; provided, however, that payment of interest may be made at the option of the Company by check mailed to the Person entitled thereto at such address as shall appear in the Security
Register or by wire transfer to an account appropriately designated by the Person entitled to payment. 
  
 
	
	D-2
	
	

  
 At least one Business Day prior to the date that any payment of principal of,
the Redemption Price (if any), the Change of Control Payments (if any), or interest on, or any other amount payable in respect of the Notes is due and payable, the Company shall deposit with the Paying Agent an amount of money in dollars sufficient
to pay any and all such amounts due and payable in respect of the Notes on such payment date.
  
 The Company has
appointed (i) The Trustee, as the Paying Agent, and (ii) the Trustee as the Security Registrar for the Notes. Upon notice to the Trustee, the Company may change any Paying Agent or Security Registrar. The Notes may be surrendered for registration of
transfer and for exchange at the office or agency of the Company maintained for such purpose in the City of New York, New York and at any other office or agency maintained by the Company for such purpose.

 
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further
provisions shall for all purposes have the same effect as if set forth at this place.
  
 Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual, facsimile or electronic signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 
 
	
	D-3
	 

	

  
 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal.
  
 
	 	 V.F. CORPORATION
	
	 	 	 	 
		By:		
	  
	  
	Name	 
	 	 	Title	 
	 	 	 	 

  
 
	 Attest:
	
	 	 	 
	By:		
	  
	Name	 
	 	Title	 
	 	 	 

  

	 	 	 	 
		By:		
	  
	  
	Name	 
	 	 	Title	 
	 	 	 	 

  

	 Attest:
	
	 	 	 
	By:		
	  
	Name	 
	 	Title	 

  
 
	 
	D-4
	 
 
	 

  
 This is one of the Notes of the series designated therein referred to in the
within-mentioned Indenture.
  
 Dated: [_____], 20[__]
  

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

		By:		
	  
	  
	Authorized Signatory	 

  
 
	 
	D-5
	 
 
	 

  
 [Reverse of Note]
  

This Note is one of a duly authorized issue of notes of the Company (herein called the “Notes”), issued and to be issued in one or more series under an
Indenture, dated as of October 15, 2007 (herein called the “Base Indenture”, which term shall have the meaning assigned to it in such instrument), as supplemented by a Fifth Supplemental Indenture, dated as of April 23,
2020 (herein called the “Fifth Supplemental Indenture” and together with the Base Indenture, the “Indenture”), among the Company, The Bank of New York Mellon Trust Company, N.A., formerly
known as The Bank of New York Trust Company, N.A., a national banking association, as Trustee (the “Trustee”), and Paying Agent, and reference is hereby made to the Indenture for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the Trustee, the Paying Agent and the Noteholders, and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series
designated on the face hereof, initially limited in aggregate principal amount to $750,000,000. The Company may at any time issue additional notes under the Indenture in unlimited amounts having the same terms as the Notes.

 
 The terms of the Notes include those stated in the Indenture and those made part of the Indenture and the provisions
of the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”). The Notes are subject to all such terms, and Noteholders are referred to the Indenture and the Trust Indenture Act for a statement of such
terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture and those other provisions forming a part thereof with respect to the Notes, the provisions of the Indenture and such other provisions with
respect to the Notes shall govern and be controlling.
  
 The Notes are subject to redemption, in whole or in part, at
any time, upon not less than 30 nor more than 60 days’ notice sent to each Noteholder of Notes to be redeemed at such Noteholder’s address as it appears in the Securities Register: 

 
 (A) on any date prior to the Make Whole Call Date at a Redemption Price equal to the greater of (i) 100%
of the principal amount of such Notes to be redeemed or (ii) the sum, as determined by a quotation agent appointed by the Company, of the present value of the remaining scheduled payments of principal and interest on the Notes to be redeemed if such
Notes matured on the Make Whole Call Date (excluding any portion of such payments of interest accrued as of the Redemption Date), discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months)
at the applicable Adjusted Treasury Rate, plus the Applicable Spread, plus, in each case, accrued and unpaid interest thereon, to, but excluding, the Redemption Date; and

 
 (B) on and after the Make Whole Call Date, at a Redemption Price equal to 100% of the
principal amount of the Notes then outstanding to be redeemed, plus accrued and unpaid interest thereon, to, but excluding, the Redemption Date;
  

provided that unless the Company defaults in payment of the Redemption Price, on or after the Redemption Date, interest will cease to accrue on the Notes or portions thereof called for
redemption.
  
 
	
	D-6
	
	

  
 The Notes do not have the benefit of any sinking fund obligations.

 
 If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by the Trustee pro rata
or by lot, but consistent with any applicable listing standards. In the event of redemption of Notes in part only, a new Note or Notes of like tenor of the unredeemed portion thereof (which shall not be less than the minimum authorized denomination
for the Notes) shall be issued in the name of the Holder thereof upon cancellation thereof.
  
 If a Change of Control
Repurchase Event with respect to the Notes occurs, unless the Company has exercised its right to redeem all the Notes, the Company shall make an offer to each Noteholder of the Notes to repurchase all or any part (in integral multiples of $1,000) of
that Noteholder’s Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of Notes repurchased plus any accrued and unpaid interest on the Notes repurchased, to, but excluding, the date of repurchase.
Within 30 days following any such Change of Control Repurchase Event or, at the Company’s option, prior to any Change of Control, but after the public announcement of an impending Change of Control, the Company shall send a notice (a
“Change of Control Notice”) to each Noteholder, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase
the Notes on the payment date specified in the Change of Control Notice, which date will be no earlier than 30 days and no later than 60 days from the date such Change of Control Notice is sent. The Change of Control Notice shall, if sent
prior to the date of consummation of the Change of Control, state that the offer to repurchase is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment date specified in the Change of Control Notice.

 
 The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and
regulations thereunder, to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any securities laws or
regulations conflict with the Change of Control Repurchase Event provisions of the Notes, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under the Indenture by
virtue of such conflict.
  
 On the Change of Control Repurchase Event payment date, the Company shall, to the extent
lawful, with respect to the Notes:
  
 (A) accept for payment all Notes or portions of Notes (in integral multiples of
$1,000) properly tendered pursuant to the Company’s offer (“Tendered Notes”);
  

(B) deposit with the Trustee a cash amount in immediately available funds equal to the aggregate repurchase price in respect of all Tendered Notes; and

 
 (C) deliver or cause to be delivered to the Trustee the Tendered Notes, together with an
officers’ certificate stating that such Tendered Notes have been properly accepted by the Company and stating the aggregate principal amount of Tendered Notes being purchased by the Company.

 
 
	
	D-7
	
	

  
 The Paying Agent shall promptly transmit to each Noteholder of Tendered Notes
the repurchase price for the Tendered Notes, and the Trustee shall, to the extent necessary, promptly authenticate and deliver (or cause to be transferred by book-entry) to each such Noteholder a new note equal in principal amount to any unpurchased
portion of any Tendered Notes; provided that each new note will be in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof.
  

The Company shall not be required to make an offer to repurchase the Notes upon a Change of Control Repurchase Event if a third party makes such an offer in the manner, at the times and
otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not withdrawn under its offer. In addition, the Company shall not be required to make an offer to
repurchase the Notes upon a Change of Control Repurchase Event if the Notes have been or are called for redemption by the Company prior to it being required to deliver notice of the Change of Control Repurchase Event, and thereafter redeems all
Notes called for redemption in accordance with the terms set forth in such redemption notice. 
  
 Notwithstanding
anything to the contrary contained herein, a revocable offer to repurchase the Notes upon a Change of Control Repurchase Event may be made in advance of a Change of Control Repurchase Event, conditioned upon the consummation of the relevant Change
of Control Repurchase Event, if a definitive agreement is in place for the applicable Change of Control at the time such offer to repurchase is made.
  

The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Note or certain restrictive covenants and Events of Default with respect to this Note, in
each case upon compliance with certain conditions set forth in the Indenture.
  
 If an Event of Default with respect
to Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and payable in the manner and with the effect provided in the Indenture.

 
 Subject to certain exceptions, the Indenture or the Notes of any series thereunder may be amended or supplemented
pursuant to Article 9 of the Base Indenture.
  
 No reference herein to the Indenture and no provision of this Note or
of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and in the coin or currency, herein
prescribed.
  
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of
this Note is registrable in the Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Note are payable, duly
endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Noteholder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of
this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.
  

	
	D-8
	
	

  
 The Notes of this series are issuable only in registered form without coupons
in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes of this series are exchangeable for a like aggregate principal
amount of Notes of this series and of like tenor of a different authorized denomination, as requested by the Noteholder surrendering the same.
  

No service charge shall be made to a Noteholder for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
  
 Prior to due presentment of this Note for registration of
transfer, the Company, the Trustee, the Paying Agent and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the
Company, the Trustee nor any such agent shall be affected by notice to the contrary.
  
 The Company has caused CUSIP
and ISIN numbers to be printed on the Notes of this series and the Trustee or Registrar may use CUSIP and ISIN numbers in notices of redemption or offers to repurchase as a convenience to Noteholders. No representation is made as to the accuracy of
such numbers either as printed on the Notes or as contained in any notice of redemption or offer to repurchase.
  

All terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 
 THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK.
  
 
	
	D-9
	 

	

  
 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY *
  

The initial outstanding principal amount of this Global Security is $______________. 
  

The following exchanges of a part of this Global Security for an interest in another Global Security or for Security in certificated form, or exchanges of a part of another
Global Security or Security in certificated form for an interest in this Global Security, have been made:
  
 
	 Date of Exchange
	  
	 Amount of
decrease in
Principal
Amount of this Global Security
	  
	 Amount of
increase in
Principal
Amount of this Global Security
	  
	 Principal
Amount of this Global Security
following such decrease or
increase
	  
	 Signature of 
authorized
officer of Trustee
or Custodian

	  
  
	  
	  
	  
	  
	  
	  
	  
	  

  
 ________________________
  

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

	 D-10EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 
  

 
  

 
  

DICK’S SPORTING GOODS, INC. 

and 
 U.S. BANK NATIONAL
ASSOCIATION 
 as Trustee 
  

 
 INDENTURE 

Dated as of April 17, 2020 
  

 
 3.25%
Convertible Senior Notes due 2025 
  
  

 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 Article 1.    Definitions; Rules of Construction
	  	 	1	 
			
	 Section 1.01.
	 	 Definitions
	  	 	1	 
	 Section 1.02.
	 	 Other Definitions
	  	 	13	 
	 Section 1.03.
	 	 Rules of Construction
	  	 	14	 
		
	 Article 2.    The Notes
	  	 	14	 
			
	 Section 2.01.
	 	 Form, Dating and Denominations
	  	 	14	 
	 Section 2.02.
	 	 Execution, Authentication and Delivery
	  	 	15	 
	 Section 2.03.
	 	 Initial Notes and Additional Notes
	  	 	15	 
	 Section 2.04.
	 	 Method of Payment
	  	 	16	 
	 Section 2.05.
	 	 Accrual of Interest; Defaulted Amounts; When Payment Date is Not a Business Day
	  	 	16	 
	 Section 2.06.
	 	 Registrar, Paying Agent and Conversion Agent
	  	 	17	 
	 Section 2.07.
	 	 Paying Agent and Conversion Agent to Hold Property in Trust
	  	 	18	 
	 Section 2.08.
	 	 Holder Lists
	  	 	18	 
	 Section 2.09.
	 	 Legends
	  	 	19	 
	 Section 2.10.
	 	 Transfers and Exchanges; Certain Transfer Restrictions
	  	 	20	 
	 Section 2.11.
	 	 Exchange and Cancellation of Notes to Be Converted or to Be Repurchased Pursuant to a Repurchase Upon Fundamental Change
or Redemption
	  	 	24	 
	 Section 2.12.
	 	 Removal of Transfer Restrictions
	  	 	25	 
	 Section 2.13.
	 	 Replacement Notes
	  	 	26	 
	 Section 2.14.
	 	 Registered Holders; Certain Rights with Respect to Global Notes
	  	 	26	 
	 Section 2.15.
	 	 Cancellation
	  	 	26	 
	 Section 2.16.
	 	 Notes Held by the Company or its Affiliates
	  	 	26	 
	 Section 2.17.
	 	 Temporary Notes
	  	 	27	 
	 Section 2.18.
	 	 Outstanding Notes
	  	 	27	 
	 Section 2.19.
	 	 Repurchases by the Company
	  	 	28	 
	 Section 2.20.
	 	 CUSIP and ISIN Numbers
	  	 	28	 
		
	 Article 3.    Covenants
	  	 	28	 
			
	 Section 3.01.
	 	 Payment on Notes
	  	 	28	 
	 Section 3.02.
	 	 Exchange Act Reports
	  	 	28	 
	 Section 3.03.
	 	 Rule 144A Information
	  	 	29	 
	 Section 3.04.
	 	 Additional Interest
	  	 	29	 
	 Section 3.05.
	 	 Compliance and Default Certificates
	  	 	30	 
	 Section 3.06.
	 	 Stay, Extension and Usury Laws
	  	 	30	 
	 Section 3.07.
	 	 Corporate Existence
	  	 	31	 
		
	 Article 4.    Repurchase and Redemption
	  	 	31	 
			
	 Section 4.01.
	 	 No Sinking Fund
	  	 	31	 
	 Section 4.02.
	 	 Right of Holders to Require the Company to Repurchase Notes upon a
	  			

  
 - i - 

							
		 	 Fundamental Change
	  	 	31	 
	 Section 4.03.
	 	 Right of the Company to Redeem the Notes
	  	 	35	 
		
	 Article 5.    Conversion
	  	 	38	 
			
	 Section 5.01.
	 	 Right to Convert
	  	 	38	 
	 Section 5.02.
	 	 Conversion Procedures
	  	 	41	 
	 Section 5.03.
	 	 Settlement upon Conversion
	  	 	43	 
	 Section 5.04.
	 	 Reserve and Status of Common Stock Issued upon Conversion
	  	 	46	 
	 Section 5.05.
	 	 Adjustments to the Conversion Rate
	  	 	46	 
	 Section 5.06.
	 	 Voluntary Adjustments
	  	 	57	 
	 Section 5.07.
	 	 Adjustments to the Conversion Rate in Connection with a Make-Whole Fundamental Change
	  	 	57	 
	 Section 5.08.
	 	 Exchange in Lieu of Conversion
	  	 	59	 
	 Section 5.09.
	 	 Effect of Common Stock Change Event
	  	 	59	 
		
	 Article 6.    Successors
	  	 	61	 
			
	 Section 6.01.
	 	 When the Company May Merge, Etc.
	  	 	61	 
	 Section 6.02.
	 	 Successor Corporation Substituted
	  	 	62	 
		
	 Article 7.    Defaults and Remedies
	  	 	62	 
			
	 Section 7.01.
	 	 Events of Default
	  	 	62	 
	 Section 7.02.
	 	 Acceleration
	  	 	64	 
	 Section 7.03.
	 	 Sole Remedy for a Failure to Report
	  	 	64	 
	 Section 7.04.
	 	 Remedies Cumulative
	  	 	65	 
	 Section 7.05.
	 	 Waiver of Past Defaults
	  	 	66	 
	 Section 7.06.
	 	 Control by Majority
	  	 	66	 
	 Section 7.07.
	 	 Limitation on Suits
	  	 	66	 
	 Section 7.08.
	 	 Absolute Right of Holders to Institute Suit for the Enforcement of the Right to Receive Payment and Conversion
Consideration
	  	 	67	 
	 Section 7.09.
	 	 Collection Suit by Trustee
	  	 	67	 
	 Section 7.10.
	 	 Trustee May File Proofs of Claim
	  	 	67	 
	 Section 7.11.
	 	 Priorities
	  	 	68	 
	 Section 7.12.
	 	 Undertaking for Costs
	  	 	68	 
		
	 Article 8.    Amendments, Supplements and Waivers
	  	 	68	 
			
	 Section 8.01.
	 	 Without the Consent of Holders
	  	 	68	 
	 Section 8.02.
	 	 With the Consent of Holders
	  	 	69	 
	 Section 8.03.
	 	 Notice of Amendments, Supplements and Waivers
	  	 	70	 
	 Section 8.04.
	 	 Revocation, Effect and Solicitation of Consents; Special Record Dates; Etc
	  	 	70	 
	 Section 8.05.
	 	 Notations and Exchanges
	  	 	71	 
	 Section 8.06.
	 	 Trustee to Execute Supplemental Indentures
	  	 	71	 
		
	 Article 9.    Satisfaction and Discharge
	  	 	72	 
			
	 Section 9.01.
	 	 Termination of Company’s Obligations
	  	 	72	 
	 Section 9.02.
	 	 Repayment to Company
	  	 	72	 
	 Section 9.03.
	 	 Reinstatement
	  	 	73	 

  
 - ii - 

							
		
	 Article 10.    Trustee
	  	 	73	 
			
	 Section 10.01.
	 	 Duties of the Trustee
	  	 	73	 
	 Section 10.02.
	 	 Rights of the Trustee
	  	 	74	 
	 Section 10.03.
	 	 Individual Rights of the Trustee
	  	 	74	 
	 Section 10.04.
	 	 Trustee’s Disclaimer
	  	 	75	 
	 Section 10.05.
	 	 Notice of Defaults
	  	 	75	 
	 Section 10.06.
	 	 Compensation and Indemnity
	  	 	75	 
	 Section 10.07.
	 	 Replacement of the Trustee
	  	 	76	 
	 Section 10.08.
	 	 Successor Trustee by Merger, Etc.
	  	 	77	 
	 Section 10.09.
	 	 Eligibility; Disqualification
	  	 	77	 
		
	 Article 11.    Miscellaneous
	  	 	77	 
			
	 Section 11.01.
	 	 Notices
	  	 	77	 
	 Section 11.02.
	 	 Delivery of Officer’s Certificate and Opinion of Counsel as to Conditions Precedent
	  	 	79	 
	 Section 11.03.
	 	 Statements Required in Officer’s Certificate and Opinion of Counsel
	  	 	79	 
	 Section 11.04.
	 	 Rules by the Trustee, the Registrar and the Paying Agent
	  	 	79	 
	 Section 11.05.
	 	 No Personal Liability of Directors, Officers, Employees and Stockholders
	  	 	80	 
	 Section 11.06.
	 	 Governing Law; Waiver of Jury Trial
	  	 	80	 
	 Section 11.07.
	 	 Submission to Jurisdiction
	  	 	80	 
	 Section 11.08.
	 	 No Adverse Interpretation of Other Agreements
	  	 	80	 
	 Section 11.09.
	 	 Successors
	  	 	80	 
	 Section 11.10.
	 	 Force Majeure
	  	 	81	 
	 Section 11.11.
	 	 U.S.A. PATRIOT Act
	  	 	81	 
	 Section 11.12.
	 	 Calculations
	  	 	81	 
	 Section 11.13.
	 	 Severability
	  	 	81	 
	 Section 11.14.
	 	 Counterparts
	  	 	81	 
	 Section 11.15.
	 	 Table of Contents, Headings, Etc.
	  	 	82	 
	 Section 11.16.
	 	 Withholding Taxes
	  	 	82	 
		
	Exhibits	  			
		
	 Exhibit A: Form of Note
	  	 	A-1	 
		
	 Exhibit B-1: Form of Restricted Note Legend
	  	 	B1-1	 
		
	 Exhibit B-2: Form of Global Note Legend
	  	 	B2-1	 
		
	 Exhibit B-3: Form of
Non-Affiliate Legend
	  	 	B3-1	 

  
 - iii - 

 INDENTURE, dated as of April 17, 2020, between DICK’S
Sporting Goods, Inc., a Delaware corporation, as issuer (the “Company”), and U.S. Bank National Association, as trustee (the “Trustee”). 

Each party to this Indenture (as defined below) agrees as follows for the benefit of the other party and for the equal and
ratable benefit of the Holders (as defined below) of the Company’s 3.25% Convertible Senior Notes due 2025 (the “Notes”). 

Article 1.    DEFINITIONS; RULES OF CONSTRUCTION 

Section 1.01.    DEFINITIONS. 

“Additional Interest” means any interest that accrues on any Note pursuant to
Section 3.04. 
 “Affiliate” has the meaning set forth in Rule 144 as in effect
on the Issue Date. 
 “Affiliated Party” means, with respect to any natural Person, (A) any company,
partnership, trust or other entity for which such natural Person (or such natural Person’s estate) has dispositive or voting power with respect to any of the Company’s common equity held by such company, partnership, trust or other entity;
(B) any trust the beneficiaries of which consist solely of such natural Person, any Immediate Family Member of such natural Person or any person described in clause (A); (C) the trustees, legal representatives, beneficiaries or
beneficial owners (in each case, solely in such capacity and not in their individual or other capacities) of any such company, partnership, trust or other entity referred to in clause (A) or (B); (D) the estates of such natural
Person (it being understood, for the avoidance of doubt, that this clause (D) will not include any Person to whom any securities are transferred from any such estate); and (E) the Immediate Family Members of such natural Person.

 “Authorized Denomination” means, with respect to a Note, a principal amount thereof equal to $1,000 or
any integral multiple of $1,000 in excess thereof. 
 “Bankruptcy Law” means Title 11, United States Code,
or any similar U.S. federal or state or non-U.S. law for the relief of debtors. 

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

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

  
 - 1 - 

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

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

“Class B Common Stock” means the class B common stock, $0.01 par value per share, of the
Company (or any other class of common equity into which such stock is converted into, exchanged for or represents solely the right to receive pursuant to an event analogous to a Common Stock Change Event). 

“Common Stock” means the common stock, $0.01 par value per share, of the Company, subject to
Section 5.09. For the avoidance of doubt, Common Stock does not mean the Class B Common Stock. 

“Company” has the meaning set forth in the first paragraph of this Indenture and, subject to Article
6, its successors and assigns. 
 “Company Order” means a written request or order signed on behalf of
the Company by one (1) of its Officers and delivered to the Trustee. 
 “Conversion Date” means, with
respect to a Note, the first Business Day on which the requirements set forth in Section 5.02(A) to convert such Note are satisfied, subject to Section 5.03(C). 

“Conversion Price” means, as of any time, an amount equal to (A) one thousand dollars ($1,000)
divided by (B) the Conversion Rate in effect at such time. 
 “Conversion Rate” initially means
28.2618 shares of Common Stock per $1,000 principal amount of Notes; provided, however, that the Conversion Rate is subject to adjustment pursuant to Article 5; provided, further, that whenever this Indenture
refers to the Conversion Rate as of a particular date without setting forth a particular time on such date, such reference will be deemed to be to the Conversion Rate immediately after the Close of Business on such date. 

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

“Daily Cash Amount” means, with respect to any VWAP Trading Day, the lesser of (A) the applicable Daily
Maximum Cash Amount; and (B) the Daily Conversion Value for such VWAP Trading Day. 
 “Daily Conversion
Value” means, with respect to any VWAP Trading Day, one-fortieth (1/40th) of the product of (A) the Conversion Rate on such VWAP Trading Day; and (B) the Daily VWAP per share of Common Stock
on such VWAP Trading Day. 

  
 - 2 - 

 “Daily Maximum Cash Amount” means, with respect to the
conversion of any Note, the quotient obtained by dividing (A) the Specified Dollar Amount applicable to such conversion by (B) forty (40). 

“Daily Share Amount” means, with respect to any VWAP Trading Day, the quotient obtained by dividing
(A) the excess, if any, of the Daily Conversion Value for such VWAP Trading Day over the applicable Daily Maximum Cash Amount by (B) the Daily VWAP for such VWAP Trading Day. For the avoidance of doubt, the Daily Share Amount will be zero
for such VWAP Trading Day if such Daily Conversion Value does not exceed such Daily Maximum Cash Amount. 
 “Daily
VWAP” means, for any VWAP Trading Day, the per share volume-weighted average price of the Common Stock as displayed under the heading “Bloomberg VWAP” on Bloomberg page “DKS <EQUITY> AQR” (or, if such page is not
available, its equivalent successor page) in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such VWAP Trading Day (or, if such volume-weighted average price is
unavailable, the market value of one share of Common Stock on such VWAP Trading Day, determined, using a volume-weighted average price method, by a nationally recognized independent investment banking firm selected by the Company, which may include
any of the Initial Purchasers). The Daily VWAP will be determined without regard to after-hours trading or any other trading outside of the regular trading session. 

“De-Legending Deadline Date” means, with respect to any Note, the
fifteenth (15th) day after the Free Trade Date of such Note; provided, however, that if such fifteenth (15th) day is after a Regular Record Date and on or before the next Interest Payment Date, then the
De-Legending Deadline Date for such Note will instead be the Business Day immediately after such Interest Payment Date. 

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

 “Default Settlement Method” means Combination Settlement with a Specified Dollar Amount of $1,000 per
$1,000 principal amount of Notes; provided, however, that the Company may, from time to time, change the Default Settlement Method by sending notice of the new Default Settlement Method to the Holders, the Trustee and the Conversion
Agent. 
 “Depositary” means The Depository Trust Company or its successor. 

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

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

“Ex-Dividend Date” means, with respect to an issuance, dividend or
distribution on the Common Stock, the first date on which shares of Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or

  
 - 3 - 

 
distribution in question (including pursuant to due bills or otherwise) as determined by such exchange or market. For the avoidance of doubt, any alternative trading convention on the applicable
exchange or market in respect of the Common Stock under a separate ticker symbol or CUSIP number will not be considered “regular way” for this purpose. 

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

“Free Convertibility Date” means December 2, 2024. 

“Free Trade Date” means, with respect to any Note, the date that is one (1) year after the Last Original
Issue Date of such Note. 
 “Freely Tradable” means, with respect to any Note, that such Note would be
eligible to be offered, sold or otherwise transferred pursuant to Rule 144 if offered, sold or otherwise transferred by a Person that is not an Affiliate of the Company, and that has not been an Affiliate of the Company during the immediately
preceding three (3) months, without any requirements as to volume, manner of sale, availability of current public information or notice under the Securities Act (except that, during the six (6) month period beginning on, and including, the
date that is six (6) months after the Last Original Issue Date of such Note, any such requirement as to the availability of current public information will be disregarded if the same is satisfied at that time); provided, however,
that from and after the Free Trade Date of such Note, such Note will not be “Freely Tradable” unless such Note (x) is not identified by a “restricted” CUSIP or ISIN number; and (y) is not represented by any certificate
that bears the Restricted Note Legend (for the avoidance of doubt, excluding, for these purposes, any legend providing that no Affiliate of the Company may acquire any interest in any Note). For the avoidance of doubt, whether a Note is deemed to be
identified by a “restricted” CUSIP or ISIN number or to bear the Restricted Note Legend is subject to Section 2.12. 

“Fundamental Change” means any of the following events: 

(A)      (1) a “person” or “group” (within the meaning of Section 13(d)
of the Exchange Act) (other than (w) the Company, (x) the Company’s Wholly Owned Subsidiaries, (y) any employee benefit plans of the Company or its Wholly Owned Subsidiaries or (z) any Permitted Party), has become the direct
or indirect “beneficial owner” (as defined below) of shares of the Common Stock representing more than fifty percent (50%) of the voting power of all of the Company’s Common Stock; or (2) any Permitted Party has become the direct
or indirect “beneficial owner” of shares of Common Stock representing more than fifty percent (50%) of the number of the Company’s then-outstanding shares of Common Stock (excluding, for the avoidance of doubt for purposes of this
clause (2), any shares of Common Stock that such Permitted Party beneficially owns solely by virtue of its beneficial ownership of the Class B Common Stock); 

(B)      the consummation of (i) any sale, lease or other transfer, in one transaction or a
series of transactions, of all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, to any Person, other than solely to one or more of the Company’s Wholly Owned Subsidiaries; or (ii) any share
exchange, exchange offer, tender offer, consolidation or merger of the Company or other similar transaction or series of related transactions, in each case pursuant to which all of the Common Stock is exchanged for, converted into, acquired for, or
constitutes solely 

  
 - 4 - 

 
the right to receive, other securities, cash or other property; provided, however, that any share exchange, exchange offer, tender offer, consolidation or merger of the Company
pursuant to which the Persons that directly or indirectly “beneficially owned” (as defined below) all classes of the Company’s common equity immediately before such transaction directly or indirectly “beneficially own,”
immediately after such transaction, more than fifty percent (50%) of all classes of common equity of the surviving, continuing or acquiring company or other transferee, as applicable, or the parent thereof, in substantially the same proportions vis-à-vis each other as immediately before such transaction will be deemed not to be a Fundamental Change pursuant to this clause (B); 

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

provided, however, that a transaction or event described in clause (A) or (B) above will not constitute a
Fundamental Change if at least ninety percent (90%) of the consideration received or to be received by the holders of Common Stock (excluding cash payments for fractional shares or pursuant to dissenters rights), in connection with such transaction
or event, consists of shares of common stock, ordinary shares or other common equity interests listed (or depositary receipts representing shares of common stock, ordinary shares or other common equity interests, which depositary receipts are
listed) on any of The New York Stock Exchange, The NASDAQ Global Market or The NASDAQ Global Select Market (or any of their respective successors), or that will be so listed when issued or exchanged in connection with such transaction or event, and
such transaction or event constitutes a Common Stock Change Event whose Reference Property consists of such consideration. 

For the purposes of this definition, (x) any transaction or event described in both clause (A) and in
clause (B)(i) or (ii) above (without regard to the proviso in clause (B)) will be deemed to occur solely pursuant to clause (B) above (subject to such proviso); and (y) whether a Person is a
“beneficial owner” and whether shares are “beneficially owned” will be determined in accordance with Rule 13d-3 under the Exchange Act. 

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

  
 - 5 - 

 “Global Note” means a Note that is represented by a
certificate substantially in the form set forth in Exhibit A, registered in the name of the Depositary or its nominee, duly executed by the Company and authenticated by the Trustee, and deposited with the Trustee, as custodian for the
Depositary or its nominee. 
 “Global Note Legend” means a legend substantially in the form set forth in
Exhibit B-2. 
 “Holder” means a person in whose name a Note
is registered on the Registrar’s books. 
 “Immediate Family Member” means, with respect to any
specified natural Person, any other natural Person that has any relationship to such specified natural Person by blood, marriage or adoption that is not more remote than first cousin. 

“Indenture” means this Indenture, as amended or supplemented from time to time. 

“Initial Purchasers” means BofA Securities, Inc., Wells Fargo Securities LLC and PNC Capital Markets LLC.

 “Interest Payment Date” means, with respect to a Note, each April 15 and October 15 of each
year, commencing on October 15, 2020 (or commencing on such other date specified in the certificate representing such Note). For the avoidance of doubt, the Maturity Date is an Interest Payment Date. 

“Issue Date” means April 17, 2020. 

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

“Last Reported Sale Price” of the Common Stock for any Trading Day means the closing sale price per share
(or, if no closing sale price is reported, the average of the last bid price and the last ask price per share or, if more than one in either case, the average of the average last bid prices and the average last ask prices per share) of the Common
Stock on such Trading Day as reported in composite transactions for the principal U.S. national or regional securities exchange on which the Common Stock is then listed. If the Common Stock is not listed on a U.S. national or regional securities
exchange on such Trading Day, then the Last Reported Sale Price will be the last quoted bid price per share of the Common Stock on such Trading Day in the
over-the-counter market as reported by OTC Markets Group Inc. or a similar organization. If the Common Stock is not so 

  
 - 6 - 

 
quoted on such Trading Day, then the Last Reported Sale Price will be the average of the mid-point of the last bid price and the last ask price per share
of the Common Stock on such Trading Day from a nationally recognized independent investment banking firm selected by the Company, which may include the Initial Purchasers. Neither the Trustee nor the Conversion Agent will have any duty to determine
the Last Reported Sale Price. 
 “Make-Whole Fundamental Change” means (A) a Fundamental Change
(determined after giving effect to the proviso immediately after clause (D) of the definition thereof, but without regard to the proviso to clause (B)(ii) of such definition); or (B) the sending of a Redemption Notice
pursuant to Section 4.03(F); provided, however, that, subject to Section 4.03(I), the sending of a Redemption Notice will constitute a Make-Whole Fundamental Change only with respect
to the Notes called for Redemption pursuant to such Redemption Notice and not with respect to any other Notes. 

“Make-Whole Fundamental Change Conversion Period” has the following meaning: 

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

(B)      in the case of a Make-Whole Fundamental Change pursuant to clause (B) of
the definition thereof, the period from, and including, the Redemption Notice Date for the related Redemption to, and including, the Business Day immediately before the related Redemption Date; 

provided, however, that if the Conversion Date for the conversion of a Note that has been called (or deemed, pursuant to
Section 4.03(I), to be called) for Redemption occurs during the Make-Whole Fundamental Change Conversion Period for both a Make-Whole Fundamental Change occurring pursuant to clause (A) of the definition of
“Make-Whole Fundamental Change” and a Make-Whole Fundamental Change resulting from such Redemption pursuant to clause (B) of such definition, then, notwithstanding anything to the contrary in
Section 5.07, solely for purposes of such conversion, (x) such Conversion Date will be deemed to occur solely during the Make-Whole Fundamental Change Conversion Period for the Make-Whole Fundamental Change with the
earlier Make-Whole Fundamental Change Effective Date; and (y) the Make-Whole Fundamental Change with the later Make-Whole Fundamental Change Effective Date will be deemed not to have occurred. 

“Make-Whole Fundamental Change Effective Date” means (A) with respect to a Make-Whole Fundamental Change
pursuant to clause (A) of the definition thereof, the date on which such Make-Whole Fundamental Change occurs or becomes effective; and (B) with respect to a Make-Whole Fundamental Change pursuant to clause (B) of the
definition thereof, the applicable Redemption Notice Date. 
 “Market Disruption Event” means, with respect
to any date, the occurrence or existence, during the one-half hour period ending at the scheduled close of trading on such date on the 

  
 - 7 - 

 
principal U.S. national or regional securities exchange or other market on which the Common Stock is listed for trading or trades, of any material suspension or limitation imposed on trading (by
reason of movements in price exceeding limits permitted by the relevant exchange or otherwise) in the Common Stock or in any options contracts or futures contracts relating to the Common Stock. 

“Maturity Date” means April 15, 2025. 

“Non-Affiliate Legend” means a legend substantially in the form set
forth in Exhibit B-3. 
 “Note Agent” means any Registrar,
Paying Agent or Conversion Agent. 
 “Notes” means the 3.25% Convertible Senior Notes due 2025 issued by
the Company pursuant to this Indenture. 
 “Observation Period” means, with respect to any Note to be
converted, (A) subject to clause (B) below, if the Conversion Date for such Note occurs before the Free Convertibility Date, the forty (40) consecutive VWAP Trading Days beginning on, and including, the second (2nd) VWAP
Trading Day immediately after such Conversion Date; (B) if such Conversion Date occurs on or after the date the Company has sent a Redemption Notice calling all or any Notes for Redemption pursuant to Section 4.03(F)
and before the related Redemption Date, the forty (40) consecutive VWAP Trading Days beginning on, and including, the forty-first (41st) Scheduled Trading Day immediately before such Redemption Date; and (C) subject to clause
(B) above, if such Conversion Date occurs on or after the Free Convertibility Date, the forty (40) consecutive VWAP Trading Days beginning on, and including, the forty-first (41st) Scheduled Trading Day immediately before the Maturity
Date. 
 “Officer” means the Chairman of the Board of Directors, the Chief Executive Officer, the
President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary, any Senior Vice President or any Vice President of the Company. 

“Officer’s Certificate” means a certificate that is signed on behalf of the Company by one (1) of
its Officers and that meets the requirements of Section 11.03. 
 “Open of
Business” means 9:00 a.m., New York City time. 
 “Opinion of Counsel” means an opinion, from
legal counsel (including an employee of, or counsel to, the Company or any of its Subsidiaries) reasonably acceptable to the Trustee, that meets the requirements of Section 11.03, subject to customary qualifications and
exclusions. 
 “Permitted Party” means (A) any of Edward W. Stack and his Affiliated Parties; and
(B) any “group” within the meaning of Section 13(d) of the Exchange Act consisting solely of Permitted Parties. 

  
 - 8 - 

 “Person” or “person” means any individual,
corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization or government or other agency or political subdivision thereof. Any division or series of a limited liability
company, limited partnership or trust will constitute a separate “person” under this Indenture. 

“Physical Note” means a Note (other than a Global Note) that is represented by a certificate substantially in
the form set forth in Exhibit A, registered in the name of the Holder of such Note and duly executed by the Company and authenticated by the Trustee. 

“Purchase Agreement” means that certain Purchase Agreement, dated April 14, 2020, between the Company
and the Initial Purchasers. 
 “Redemption” means the repurchase of any Note by the Company pursuant to
Section 4.03. 
 “Redemption Date” means the date fixed, pursuant to
Section 4.03(D), for the settlement of the repurchase of any Notes by the Company pursuant to a Redemption. 

“Redemption Notice Date” means, with respect to a Redemption, the date on which the Company sends the
Redemption Notice for such Redemption pursuant to Section 4.03(F). 
 “Redemption
Price” means the cash price payable by the Company to redeem any Note upon its Redemption, calculated pursuant to Section 4.03(E). 

“Regular Record Date” has the following meaning with respect to an Interest Payment Date: (A) if such
Interest Payment Date occurs on April 15, the immediately preceding April 1; and (B) if such Interest Payment Date occurs on October 15, the immediately preceding October 1. 

“Repurchase Upon Fundamental Change” means the repurchase of any Note by the Company pursuant to
Section 4.02. 
 “Responsible Officer” means (A) any officer within the
Corporate Trust office of the Trustee (or any successor group of the Trustee) or any other officer of the Trustee customarily performing functions similar to those performed by any of such officers; and (B) with respect to a particular
corporate trust matter, any other officer to whom such matter is referred because of his or her knowledge of, and familiarity with, the particular subject. 

“Restricted Note Legend” means a legend substantially in the form set forth in Exhibit B-1. 
 “Restricted Stock Legend” means, with respect to any
Conversion Share, a legend substantially to the effect that the offer and sale of such Conversion Share have not been registered under the Securities Act and that such Conversion Share cannot be sold or otherwise transferred except pursuant to a
transaction that is registered under the Securities Act or that is exempt from, 

  
 - 9 - 

 
or not subject to, the registration requirements of the Securities Act. 

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

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

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

“Security” means any Note or Conversion Share. 

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

“Shoe Option” means the Initial Purchasers’ option to purchase up to seventy-five million dollars
($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement. 

“Significant Subsidiary” means, with respect to any Person, any Subsidiary of such Person that constitutes,
or any group of Subsidiaries of such Person that, in the aggregate, would constitute, a “significant subsidiary” (as defined in Rule 1-02(w) of Regulation S-X
under the Exchange Act) of such Person; provided, however, that, if a Subsidiary or group of Subsidiaries meets the criteria of clause (3), but not clause (1) or (2), of the definition of “significant subsidiary” in Rule
1-02(w), then such Subsidiary or group will be deemed not to be a Significant Subsidiary unless such Subsidiary’s or group’s income from continuing operations before income taxes, exclusive of
amounts attributable to any non-controlling interests, for the last completed fiscal year before the date of determination exceeds seventy five million dollars ($75,000,000). 

“Special Interest” means any interest that accrues on any Note pursuant to
Section 7.03. 
 “Specified Dollar Amount” means, with respect to the conversion
of a Note to which Combination Settlement applies, the maximum cash amount per $1,000 principal amount of such Note deliverable upon such conversion (excluding cash in lieu of any fractional share of Common Stock) as specified (or deemed to be
specified) by the Company in accordance with Section 5.03(A). 
 “Stock Price”
has the following meaning for any Make-Whole Fundamental Change: (A) 

  
 - 10 - 

 
if the holders of Common Stock receive only cash in consideration for their shares of Common Stock in such Make-Whole Fundamental Change and such Make-Whole Fundamental Change is pursuant to
clause (B) of the definition of “Fundamental Change,” then the Stock Price is the amount of cash paid per share of Common Stock in such Make-Whole Fundamental Change; and (B) in all other cases, the Stock Price is the
average of the Last Reported Sale Prices per share of Common Stock for the five (5) consecutive Trading Days ending on, and including, the Trading Day immediately before the Make-Whole Fundamental Change Effective Date of such Make-Whole
Fundamental Change. 
 “Subsidiary” means, with respect to any Person, (A) any corporation,
association or other business entity (other than a partnership or limited liability company) of which more than fifty percent (50%) of the total voting power of the Capital Stock entitled (without regard to the occurrence of any contingency, but
after giving effect to any voting agreement or stockholders’ agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees, as applicable, of such corporation, association or other business entity
is owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of such Person; and (B) any partnership or limited liability company where (i) more than fifty percent (50%) of the capital accounts,
distribution rights, equity and voting interests, or of the general and limited partnership interests, as applicable, of such partnership or limited liability company are owned or controlled, directly or indirectly, by such Person or one or more of
the other Subsidiaries of such Person, whether in the form of membership, general, special or limited partnership or limited liability company interests or otherwise; and (ii) such Person or any one or more of the other Subsidiaries of such
Person is a controlling general partner of, or otherwise controls, such partnership or limited liability company. 

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

“Trading Price” of the Notes on any Trading Day means the average of the secondary market bid quotations,
expressed as a cash amount per $1,000 principal amount of Notes, obtained by the Bid Solicitation Agent for one million dollars ($1,000,000) (or such lesser amount as may then be outstanding) in principal amount of Notes at approximately 3:30 p.m.,
New York City time, on such Trading Day from three (3) nationally recognized independent securities dealers selected by the Company, which may include any of the Initial Purchasers; provided, however, that, if three (3) such
bids cannot reasonably be obtained by the Bid Solicitation Agent but two (2) such bids are obtained, then the average of the two (2) bids will be used, and if only one (1) such bid can reasonably be obtained by the Bid Solicitation
Agent, then that one (1) bid will be used. If, on any Trading Day, (A) the Bid Solicitation Agent cannot reasonably obtain at least one (1) bid for one million dollars ($1,000,000) (or such lesser amount as may then be outstanding) in
principal amount of Notes from a nationally recognized independent securities dealer; (B) the Company is not acting as the Bid Solicitation Agent and the Company fails to instruct the Bid Solicitation Agent to obtain bids when required; or
(C) the Bid Solicitation Agent fails to solicit 

  
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bids when required, then, in each case, the Trading Price per $1,000 principal amount of Notes on such Trading Day will be deemed to be less than ninety eight percent (98%) of the product of the
Last Reported Sale Price per share of Common Stock on such Trading Day and the Conversion Rate on such Trading Day. 

“Transfer-Restricted Security” means any Security that constitutes a “restricted security” (as
defined in Rule 144); provided, however, that such Security will cease to be a Transfer-Restricted Security upon the earliest to occur of the following events: 

(A)      such Security is sold or otherwise transferred to a Person (other than the Company, an
Affiliate of the Company or a Person that was an Affiliate of the Company during the immediately preceding three (3) months) pursuant to a registration statement that was effective under the Securities Act at the time of such sale or transfer;

 (B)      such Security is sold or otherwise transferred to a Person (other than the
Company, an Affiliate of the Company or a Person that was an Affiliate of the Company during the immediately preceding three (3) months) pursuant to an available exemption (including Rule 144) from the registration and prospectus-delivery
requirements of, or in a transaction not subject to, the Securities Act and, immediately after such sale or transfer, such Security ceases to constitute a “restricted security” (as defined in Rule 144); and 

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

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

  
 - 12 - 

 
Event; and (B) trading in the Common Stock generally occurs on the principal U.S. national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is
not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then traded. If the Common Stock is not so listed or traded, then “VWAP Trading Day” means a Business Day. 

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

Section 1.02.    OTHER DEFINITIONS. 

 

			
	 Term
	  	 Defined in
Section

	 “Additional Shares”
	  	5.07(A)
	 “Business Combination Event”
	  	6.01(A)
	 “Cash Settlement”
	  	5.03(A)
	 “Combination Settlement”
	  	5.03(A)
	 “Common Stock Change Event”
	  	5.09(A)
	 “Conversion Agent”
	  	2.06(A)
	 “Conversion Consideration”
	  	5.03(B)
	 “Default Interest”
	  	2.05(B)
	 “Defaulted Amount”
	  	2.05(B)
	 “Distributed Property”
	  	5.05(A)(iii)(1)
	 “Event of Default”
	  	7.01(A)
	 “Expiration Date”
	  	5.05(A)(v)
	 “Expiration Time”
	  	5.05(A)(v)
	 “Fundamental Change Notice”
	  	4.02(E)
	 “Fundamental Change Repurchase Right”
	  	4.02(A)
	 “Initial Notes”
	  	2.03(A)
	 “Measurement Period”
	  	5.01(C)(i)(2)
	 “Paying Agent”
	  	2.06(A)
	 “Physical Settlement”
	  	5.03(A)
	 “Redemption Notice”
	  	4.03(F)
	 “Reference Property”
	  	5.09(A)
	 “Reference Property Unit”
	  	5.09(A)
	 “Register”
	  	2.06(A)
	 “Registrar”
	  	2.06(A)
	 “Reporting Event of Default”
	  	7.03(A)
	 “Specified Courts”
	  	11.07
	 “Spin-Off”
	  	5.05(A)(iii)(2)
	 “Spin-Off Valuation Period”
	  	5.05(A)(iii)(2)
	 “Stated Interest”
	  	2.05(A)
	 “Successor Corporation”
	  	6.01(A)
	 “Successor Person”
	  	5.09(A)
	 “Tender/Exchange Offer Valuation Period”
	  	5.05(A)(v)

  
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	 “Trading Price Condition”
	  	5.01(C)(i)(2)

 Section 1.03.    RULES OF CONSTRUCTION. 

For purposes of this Indenture: 

(A)      “or” is not exclusive; 

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

(C)      “will” expresses a command; 

(D)      the “average” of a set of numerical values refers to the arithmetic average
of such numerical values; 
 (E)      words in the singular include the plural and in the
plural include the singular, unless the context requires otherwise; 

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

(G)      references to currency mean the lawful currency of the United States of America, unless
the context requires otherwise; 
 (H)      the exhibits, schedules and other attachments to
this Indenture are deemed to form part of this Indenture; and 
 (I)      the term
“interest,” when used with respect to a Note, includes any Additional Interest and Special Interest, unless the context requires otherwise. 

Article 2.    THE NOTES 

Section 2.01.    FORM, DATING AND DENOMINATIONS. 

The Notes and the Trustee’s certificate of authentication will be substantially in the form set forth in Exhibit
A. The Notes will bear the legends required by Section 2.09 and may bear notations, legends or endorsements required by law, stock exchange rule or usage or the Depositary. Each Note will be dated as of the date of its
authentication. 
 Except to the extent otherwise provided in a Company Order delivered to the Trustee in connection with
the issuance and authentication thereof, the Notes will be issued initially in the form of one or more Global Notes. Global Notes may be exchanged for Physical Notes, and Physical Notes may be exchanged for Global Notes, only as provided in
Section 2.10. 
 The Notes will be issuable only in registered form without interest coupons and
only in Authorized Denominations. 

  
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 Each certificate representing a Note will bear a unique registration number
that is not affixed to any other certificate representing another outstanding Note. 
 The terms contained in the Notes
constitute part of this Indenture, and, to the extent applicable, the Company and the Trustee, by their execution and delivery of this Indenture, agree to such terms and to be bound thereby; provided, however, that, to the extent that
any provision of any Note conflicts with the provisions of this Indenture, the provisions of this Indenture will control for purposes of this Indenture and such Note. 

Section 2.02.  EXECUTION, AUTHENTICATION AND DELIVERY. 

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

(ii)        The Trustee will cause an authorized signatory of the
Trustee (or a duly appointed authenticating agent) to manually sign the certificate of authentication of a Note only if (1) the Company delivers such Note to the Trustee; (2) such Note is executed by the Company in accordance with
Section 2.02(A); and (3) the Company delivers a Company Order to the Trustee that (a) requests the Trustee to authenticate such Note; and (b) sets forth the name of the Holder of such Note and the date as of
which such Note is to be authenticated. If such Company Order also requests the Trustee to deliver such Note to any Holder or to the Depositary, then the Trustee will promptly deliver such Note in accordance with such Company Order. For the
avoidance of doubt, the Company will not be required to deliver an Opinion of Counsel to the Trustee in connection with the authentication of the Notes on the Issue Date. 

(iii)        The Trustee may appoint an authenticating agent
acceptable to the Company to authenticate Notes. A duly appointed authenticating agent may authenticate Notes whenever the Trustee may do so under this Indenture, and a Note authenticated as provided in this Indenture by such an agent will be
deemed, for purposes of this Indenture, to be authenticated by the Trustee. Each duly appointed authenticating agent will have the same rights to deal with the Company as the Trustee would have if it were performing the duties that the
authentication agent was validly appointed to undertake. 
 Section 2.03.  INITIAL NOTES AND
ADDITIONAL NOTES. 
 (A)        Initial
Notes. On the Issue Date, there will be originally issued five hundred million dollars ($500,000,000) aggregate principal amount of Notes, subject to the provisions of this 

  
 - 15 - 

 
Indenture (including Section 2.02). If the Initial Purchasers exercise the Shoe Option, then there will be originally issued up to an additional seventy-five million
dollars ($75,000,000) principal amount of Notes pursuant to such exercise, subject to the provisions of this Indenture (including Section 2.02). Notes issued pursuant to this Section 2.03(A), and
any Notes issued in exchange therefor or in substitution thereof, are referred to in this Indenture as the “Initial Notes.” 

(B)        Additional Notes. The Company may, subject to the provisions of this
Indenture (including Section 2.02), issue additional Notes with the same terms as the Initial Notes (except, to the extent applicable, with respect to the issue date, issue price, the date as of which interest begins to
accrue on such additional Notes and the first Interest Payment Date and the Last Original Issue Date of such additional Notes), which additional Notes will, subject to the foregoing, be considered to be part of the same series of, and rank equally
and ratably with all other, Notes issued under this Indenture; provided, however, that if any such additional Notes (and any Notes that have been resold after such Notes have been purchased or otherwise acquired by the Company or its
Subsidiaries) are not fungible with other Notes issued under this Indenture for U.S. federal income tax or federal securities laws purposes, then such additional Notes must be identified by a separate CUSIP number or by no CUSIP number. 

Section 2.04.  METHOD OF PAYMENT. 

(A)        Global Notes. The Company will pay, or cause the Paying Agent to
pay, the principal (whether due upon maturity on the Maturity Date, Redemption on a Redemption Date or repurchase on a Fundamental Change Repurchase Date or otherwise) of, interest on, and any cash Conversion Consideration for, any Global Note to
the Depositary by wire transfer of immediately available funds no later than the time the same is due as provided in this Indenture. 

(B)        Physical Notes. The Company will pay, or cause the Paying Agent to
pay, the principal (whether due upon maturity on the Maturity Date, Redemption on a Redemption Date or repurchase on a Fundamental Change Repurchase Date or otherwise) of, interest on, and any cash Conversion Consideration for, any Physical Note no
later than the time the same is due as provided in this Indenture as follows: (i) if the principal amount of such Physical Note is at least five million dollars ($5,000,000) (or such lower amount as the Company may choose in its sole and
absolute discretion) and the Holder of such Physical Note entitled to such payment has delivered to the Paying Agent or the Trustee, no later than the time set forth in the immediately following sentence, a written request that the Company make such
payment by wire transfer to an account of such Holder within the United States, by wire transfer of immediately available funds to such account; and (ii) in all other cases, by check mailed to the address of the Holder of such Physical Note
entitled to such payment as set forth in the Register. To be timely, such written request must be delivered no later than the Close of Business on the following date: (x) with respect to the payment of any interest due on an Interest Payment
Date, the immediately preceding Regular Record Date; and (y) with respect to any other payment, the date that is fifteen (15) calendar days immediately before the date such payment is due. 

Section 2.05.  ACCRUAL OF INTEREST; DEFAULTED AMOUNTS;
WHEN PAYMENT DATE IS NOT A BUSINESS DAY. 

(A)        Accrual of Interest. Each Note will accrue interest at a rate per
annum equal to 

  
 - 16 - 

 
3.25% (the “Stated Interest”), plus any Additional Interest and Special Interest that may accrue pursuant to Sections 3.04 and 7.03, respectively. Stated
Interest on each Note will (i) accrue from, and including, the most recent date to which Stated Interest has been paid or duly provided for (or, if no Stated Interest has theretofore been paid or duly provided for, the date set forth in the
certificate representing such Note as the date from, and including, which Stated Interest will begin to accrue in such circumstance) to, but excluding, the date of payment of such Stated Interest; and (ii) be, subject to Sections
4.02(D), 4.03(E) and 5.02(D) (but without duplication of any payment of interest), payable semi-annually in arrears on each Interest Payment Date, beginning on the first Interest Payment Date set forth in the certificate
representing such Note, to the Holder of such Note as of the Close of Business on the immediately preceding Regular Record Date. Stated Interest, and, if applicable, Additional Interest and Special Interest, on the Notes will be computed on the
basis of a 360-day year comprised of twelve 30-day months. 

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

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

(A)        Generally. The Company will maintain one or more offices or agencies
in the continental United States where Notes may be presented for (i) registration of transfer or for exchange (the “Registrar”); (ii) payment (the “Paying Agent”); and (iii) conversion (the
“Conversion Agent”). If the Company fails to maintain a Registrar, Paying Agent or Conversion Agent, then the Trustee will act as such. The Company may change the Registrar, Paying Agent and Conversion Agent, and the Company or any
of its Subsidiaries may act as Registrar, Paying Agent or Conversion Agent, in each case without prior notice to Holders. 

(B)        Duties of the Registrar. The Registrar will keep a record (the
“Register”) of the 

  
 - 17 - 

 
names and addresses of the Holders, the Notes held by each Holder and the transfer, exchange, repurchase, Redemption and conversion of Notes. Absent manifest error, the entries in the Register
will be conclusive and the Company and the Trustee may treat each Person whose name is recorded as a Holder in the Register as a Holder for all purposes. The Register will be in written form or in any form capable of being converted into written
form reasonably promptly. 

(C)        Co-Agents; Company’s Right
to Appoint Successor Registrars, Paying Agents and Conversion Agents. The Company may appoint one or more co-Registrars, co-Paying Agents and co-Conversion Agents, each of whom will be deemed to be a Registrar, Paying Agent or Conversion Agent, as applicable, under this Indenture. Subject to Section 2.06(A), the Company may
change any Registrar, Paying Agent or Conversion Agent (including appointing itself or any of its Subsidiaries to act in such capacity) without notice to any Holder. The Company will notify the Trustee (and, upon request, any Holder) of the name and
address of each Note Agent, if any, not a party to this Indenture and will enter into an appropriate agency agreement with each such Note Agent, which agreement will implement the provisions of this Indenture that relate to such Note Agent. 

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

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

If the Trustee is not the Registrar, the Company will furnish to the Trustee, no later than seven (7) Business Days
before each Interest Payment Date, and at such other times as the Trustee 

  
 - 18 - 

 
may request, a list, in such form and as of such date or time as the Trustee may reasonably require, of the names and addresses of the Holders. 

Section 2.09.  LEGENDS. 

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

(B)        Non-Affiliate Legend. Each
Note will bear the Non-Affiliate Legend. 

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

(ii)        if a Note is issued in exchange for, in substitution of,
or to effect a partial conversion of, another Note (such other Note being referred to as the “old Note” for purposes of this Section 2.09(C)(ii)), including pursuant to Section 2.10(B), 2.10(C),
2.11 or 2.13, then such Note will bear the Restricted Note Legend if such old Note bore the Restricted Note Legend at the time of such exchange or substitution, or on the related Conversion Date with respect to such conversion, as
applicable; provided, however, that such Note need not bear the Restricted Note Legend if such Note does not constitute a Transfer-Restricted Security immediately after such exchange or substitution, or as of such Conversion Date, as
applicable. 
 (D)        Other Legends. A Note may bear any other legend or
text, not inconsistent with this Indenture, as may be required by applicable law or by any securities exchange or automated quotation system on which such Note is traded or quoted. 

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

(F)        Restricted Stock Legend. 

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

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

  
 - 19 - 

 
in the Restricted Stock Legend. 
 Section 2.10.  TRANSFERS
AND EXCHANGES; CERTAIN TRANSFER RESTRICTIONS. 

(A)        Provisions Applicable to All Transfers and Exchanges. 

(i)        Subject to this Section 2.10,
Physical Notes and beneficial interests in Global Notes may be transferred or exchanged from time to time and the Registrar will record each such transfer or exchange in the Register. 

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

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

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

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

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

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

(viii)      For the avoidance of doubt, and subject to the terms of this
Indenture, as used in this Section 2.10, an “exchange” of a Global Note or a Physical Note includes (x) an exchange effected for the sole purpose of removing any Restricted Note Legend affixed to such Global
Note or Physical Note; and (y) if such Global Note or Physical Note is identified by a “restricted” CUSIP number, an exchange effected for the sole purpose of causing such Global Note or Physical Note to be identified by an
“unrestricted” CUSIP 

  
 - 20 - 

 
number. 

(B)        Transfers and Exchanges of Global Notes. 

(i)      Subject to the immediately following sentence, no Global Note may be
transferred or exchanged in whole except (x) by the Depositary to a nominee of the Depositary; (y) by a nominee of the Depositary to the Depositary or to another nominee of the Depositary; or (z) by the Depositary or any such nominee
to a successor Depositary or a nominee of such successor Depositary. No Global Note (or any portion thereof) may be transferred to, or exchanged for, a Physical Note; provided, however, that a Global Note will be exchanged, pursuant to
customary procedures, for one or more Physical Notes only if: 
 (1)      (x)
the Depositary notifies the Company or the Trustee that the Depositary is unwilling or unable to continue as depositary for such Global Note or (y) the Depositary ceases to be a “clearing agency” registered under Section 17A of
the Exchange Act and, in each case, the Company fails to appoint a successor Depositary within ninety (90) days of such notice or cessation; 

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

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

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

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

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

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

  
 - 21 - 

 (4)      if such Global Note
(or portion thereof), or any beneficial interest therein, is to be exchanged for one or more Physical Notes, then the Company will issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with
Section 2.02, one or more Physical Notes that (x) are in Authorized Denominations and have an aggregate principal amount equal to the principal amount of such Global Note (or portion thereof) to be so exchanged;
(y) are registered in such name(s) as the Depositary specifies (or as otherwise determined pursuant to customary procedures); and (z) bear each legend, if any, required by Section 2.09. 

(iii)      Each transfer or exchange of a beneficial interest in any Global Note
will be made in accordance with the Depositary Procedures. 

(C)        Transfers and Exchanges of Physical Notes. 

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

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

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

(ii)      Upon the satisfaction of the requirements of this Indenture to effect
a transfer or exchange of any Physical Note (such Physical Note being referred to as the “old Physical Note” for purposes of this Section 2.10(C)(ii)) of a Holder (or any portion of such old Physical Note in an
Authorized Denomination): 
 (1)      such old Physical Note will be promptly
cancelled pursuant to Section 2.15; 
 (2)      if
such old Physical Note is to be so transferred or exchanged only in part, then the Company will issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, one or more
Physical Notes that (x) are in Authorized Denominations and have an aggregate principal amount equal to the principal amount of such old Physical Note not to be so transferred or exchanged; (y) are registered in the name of such Holder;
and (z) bear each legend, if any, required by Section 2.09; 

  
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 (3)      in the case of a
transfer: 
 (a)      to the Depositary or a nominee thereof that will hold
its interest in such old Physical Note (or such portion thereof) to be so transferred in the form of one or more Global Notes, the Trustee will reflect an increase of the principal amount of one or more existing Global Notes by notation on the
“Schedule of Exchanges of Interests in the Global Note” forming part of such Global Note(s), which increase(s) are in Authorized Denominations and aggregate to the principal amount to be so transferred, and which Global Note(s) bear each
legend, if any, required by Section 2.09; provided, however, that if such transfer cannot be so effected by notation on one or more existing Global Notes (whether because no Global Notes bearing each legend,
if any, required by Section 2.09 then exist, because any such increase will result in any Global Note having an aggregate principal amount exceeding the maximum aggregate principal amount permitted by the Depositary or
otherwise), then the Company will issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, one or more Global Notes that (x) are in Authorized Denominations and have
an aggregate principal amount equal to the principal amount to be so transferred; and (y) bear each legend, if any, required by Section 2.09; and 

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

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

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

  
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 then the Company, the Trustee and the Registrar may refuse to effect such identification,
removal or transfer, as applicable, unless there is delivered to the Company, the Trustee and the Registrar such certificates or other documentation or evidence as the Company, the Trustee and the Registrar may reasonably require to determine that
such identification, removal or transfer, as applicable, complies with the Securities Act and other applicable securities laws; provided, however, that no such certificates, documentation or evidence need be so delivered on and after
the Free Trade Date with respect to such Note unless the Company determines, in its reasonable discretion, that such Note is not eligible to be offered, sold or otherwise transferred pursuant to Rule 144 or otherwise without any requirements as to
volume, manner of sale, availability of current public information or notice under the Securities Act. All Notes presented or surrendered for registration of transfer or exchange will be duly endorsed, or accompanied by a written instrument or
instruments of transfer in accordance with the Trustee’s customary procedures, and such Notes will be duly endorsed by the Holder thereof or such Holder’s attorney duly authorized in writing, in each case subject to the Depositary
Procedures in the case of any Global Note. In addition to the requirements set forth in the Restricted Note Legend, in connection with any transfer of a Transfer-Restricted Security, any request for transfer thereof will be accompanied by a
certification to the Company and the Trustee relating to the manner of such transfer substantially in the form of the “Transferor Acknowledgement” set forth in Exhibit A. 

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

Section 2.11.  EXCHANGE AND CANCELLATION OF NOTES
TO BE CONVERTED OR TO BE REPURCHASED PURSUANT TO A REPURCHASE UPON
FUNDAMENTAL CHANGE OR REDEMPTION. 

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

  
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 (B)        Cancellation of Notes
that Are Converted and Notes that Are Repurchased Pursuant to a Repurchase Upon Fundamental Change or Redemption. 

(i)      Physical Notes. If a Physical Note (or any portion thereof that
has not theretofore been exchanged pursuant to Section 2.11(A)) of a Holder is to be converted pursuant to Article 5 or repurchased pursuant to a Repurchase Upon Fundamental Change or Redemption, then, promptly after
the later of the time such Physical Note (or such portion) is deemed to cease to be outstanding pursuant to Section 2.18 and the time such Physical Note is surrendered for such conversion or repurchase, as applicable,
(1) such Physical Note will be cancelled pursuant to Section 2.15; and (2) in the case of a partial conversion or repurchase, as applicable, the Company will issue, execute and deliver to such Holder, and the
Trustee will authenticate, in each case in accordance with Section 2.02, one or more Physical Notes that (x) are in Authorized Denominations and have an aggregate principal amount equal to the principal amount of such
Physical Note that is not to be so converted or repurchased, as applicable; (y) are registered in the name of such Holder; and (z) bear each legend, if any, required by Section 2.09. 

(ii)      Global Notes. If a Global Note (or any portion thereof) is to
be converted pursuant to Article 5 or repurchased pursuant to a Repurchase Upon Fundamental Change or Redemption, then, promptly after the time such Note (or such portion) is deemed to cease to be outstanding pursuant to
Section 2.18, the Trustee will reflect a decrease of the principal amount of such Global Note in an amount equal to the principal amount of such Global Note to be so converted or repurchased, as applicable, by notation on
the “Schedule of Exchanges of Interests in the Global Note” forming part of such Global Note (and, if the principal amount of such Global Note is zero following such notation, cancel such Global Note pursuant to
Section 2.15). 
 Section 2.12.  REMOVAL OF TRANSFER
RESTRICTIONS. 
 Without limiting the generality of any other provision of this Indenture (including
Section 3.04), the Restricted Note Legend affixed to any Note will be deemed, pursuant to this Section 2.12 and the footnote to such Restricted Note Legend, to be removed therefrom upon the
Company’s delivery to the Trustee of notice, signed on behalf of the Company by one (1) of its Officers, that the Restricted Note Legend no longer applies (and, for the avoidance of doubt, such notice need not be accompanied by an
Officer’s Certificate or an Opinion of Counsel in order to be effective to cause such Restricted Note Legend to be deemed to be removed from such Note). If such Note bears a “restricted” CUSIP or ISIN number at the time of such
delivery, then, upon such delivery, such Note will be deemed, pursuant to this Section 2.12 and the footnotes to the CUSIP and ISIN numbers set forth on the face of the certificate representing such Note, to thereafter bear
the “unrestricted” CUSIP and ISIN numbers identified in such footnotes; provided, however, that if such Note is a Global Note and the Depositary thereof requires a mandatory exchange or other procedure to cause such Global
Note to be identified by “unrestricted” CUSIP and ISIN numbers in the facilities of such Depositary, then (i) the Company will effect such exchange or procedure as soon as reasonably practicable; and (ii) for purposes of
Section 3.04 and the definition of Freely Tradable, such Global Note will not be deemed to be identified by “unrestricted” CUSIP and ISIN numbers until such time as such exchange or procedure is effected. 

  
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 Section 2.13.  REPLACEMENT NOTES. 

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

Every replacement Note issued pursuant to this Section 2.13 will be an additional obligation of the
Company and will be entitled to all of the benefits of this Indenture equally and ratably with all other Notes issued under this Indenture. 

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

The Company may at any time deliver Notes to the Trustee for cancellation. The Registrar, the Paying Agent and the Conversion
Agent will forward to the Trustee each Note duly surrendered to them for transfer, exchange, payment or conversion. The Trustee will promptly cancel all Notes so surrendered to it in accordance with its customary procedures. Without limiting the
generality of Section 2.03(B), the Company may not originally issue new Notes to replace Notes that it has paid or that have been cancelled upon transfer, exchange, payment or conversion. 

Section 2.16.  NOTES HELD BY THE COMPANY OR
ITS AFFILIATES. 
 Without limiting the generality of Section 2.18, in
determining whether the Holders of the required aggregate principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Company or any of its Affiliates will be deemed not to be outstanding; provided,
however, that, for purposes of determining whether the Trustee is protected in relying on any such direction, waiver or consent, only Notes that the Trustee knows are so owned will be so disregarded. 

  
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 Section 2.17.  TEMPORARY NOTES. 

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

Section 2.18.  OUTSTANDING NOTES. 

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

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

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

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

(F)        Notes Acquired by the Company or its Subsidiaries. Without limiting
the generality of the foregoing provisions of this Section 2.18, Notes that the Company or any of its Subsidiaries have purchased or otherwise acquired will be deemed to remain outstanding (except to the extent provided in
Section 2.16) until such time as such Notes are delivered to the Trustee for cancellation. 

Section 2.19.  REPURCHASES BY THE COMPANY. 

Without limiting the generality of Section 2.15, the Company may, from time to time, repurchase
Notes in open market purchases or in negotiated transactions without delivering prior notice to Holders. 
 Section 2.20.  CUSIP
AND ISIN NUMBERS. 
 Subject to Section 2.12, the Company may
use one or more CUSIP or ISIN numbers to identify any of the Notes, and, if so, the Company and the Trustee will use such CUSIP or ISIN number(s) in notices to Holders; provided, however, that (i) the Trustee makes no
representation as to the correctness or accuracy of any such CUSIP or ISIN number; and (ii) the effectiveness of any such notice will not be affected by any defect in, or omission of, any such CUSIP or ISIN number. The Company will promptly
notify the Trustee of any change in the CUSIP or ISIN number(s) identifying any Notes. 
 Article 3.    COVENANTS

 Section 3.01.  PAYMENT ON NOTES. 

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

(B)        Deposit of Funds. Before 11:00 A.M., New York City time, on each
Redemption Date, Fundamental Change Repurchase Date or Interest Payment Date, and on the Maturity Date or any other date on which any cash amount is due on the Notes, the Company will deposit, or will cause there to be deposited, with the Paying
Agent cash, in funds immediately available on such date, sufficient to pay the cash amount due on the applicable Notes on such date. The Paying Agent will return to the Company, as soon as practicable, any money not required for such purpose. 

Section 3.02.  EXCHANGE ACT REPORTS. 

(A)        Generally. The Company will send to the Trustee copies of all
reports that the Company is required to file with the SEC pursuant to Section 13(a) or 15(d) of the Exchange Act within fifteen (15) calendar days after the date that the Company is required to file the same (after giving effect to all
applicable grace periods under the Exchange Act); provided, however, that the 

  
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Company need not send to the Trustee any material for which the Company has received, or is seeking in good faith and has not been denied, confidential treatment by the SEC. Any report that the
Company files with the SEC through the EDGAR system (or any successor thereto) will be deemed to be sent to the Trustee at the time such report is so filed via the EDGAR system (or such successor). Upon the request of any Holder, the Trustee will
provide to such Holder a copy of any report that the Company has sent the Trustee pursuant to this Section 3.02(A), other than a report that is deemed to be sent to the Trustee pursuant to the preceding sentence. 

(B)        Trustee’s Disclaimer. Delivery of the reports referred to in
Section 3.02(A) to the Trustee is for informational purposes only, and the Trustee’s receipt of those reports will not constitute constructive notice of any information contained therein (as to which the Trustee will
be entitled to conclusively rely on an Officer’s Certificate). The Trustee will have no liability or responsibility for the filing, timeliness, or content of such reports. 

Section 3.03.  RULE 144A INFORMATION. 

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

(A)        Accrual of Additional Interest. 

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

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

(2)      such Note is not otherwise Freely Tradable, 

then Additional Interest will accrue on such Note for each day during such period on which such failure is continuing or such
Note is not Freely Tradable. As used in this Indenture, reports that the Company is required to “file” with the SEC pursuant to Section 13 or 15(d) of the Exchange Act do not include documents or reports that the Company furnishes to
the SEC pursuant to Section 13 or 15(d) of the Exchange Act. 

(ii)      In addition, Additional Interest will accrue on a Note on each day on
which 

  
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such Note is not Freely Tradable on or after the De-Legending Deadline Date for such Note. 

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

(C)      Notice of Accrual of Additional Interest; Trustee’s Disclaimer. The Company
will send notice to the Holder of each Note, and to the Trustee, of the commencement and termination of any period in which Additional Interest accrues on such Note. In addition, if Additional Interest accrues on any Note, then, no later than five
(5) Business Days before each date on which such Additional Interest is to be paid, the Company will deliver an Officer’s Certificate to the Trustee and the Paying Agent stating (i) that the Company is obligated to pay Additional
Interest on such Note on such date of payment; and (ii) the amount of such Additional Interest that is payable on such date of payment. The Trustee will have no duty to determine whether any Additional Interest is payable or the amount thereof.

 Section 3.05.  COMPLIANCE AND DEFAULT CERTIFICATES. 

(A)      Annual Compliance Certificate. Within one hundred and twenty (120) days
after February 1, 2021 and each fiscal year of the Company ending thereafter, the Company will deliver an Officer’s Certificate to the Trustee stating (i) that the signatory thereto has supervised a review of the activities of the
Company and its Subsidiaries during such prior fiscal year with a view towards determining whether any Default or Event of Default has occurred during such prior fiscal year; and (ii) whether, to such signatory’s knowledge, a Default or
Event of Default has occurred during such prior fiscal year or is continuing (and, if so, describing all such Defaults or Events of Default and what action the Company is taking or proposes to take with respect thereto). 

(B)      Default Certificate. Within thirty (30) days of the Company becoming aware
of the occurrence of any Default or Event of Default, the Company will notify the Trustee of such Default or Event of Default, and describe what action the Company is taking or proposes to take with respect thereto. 

Section 3.06.  STAY, EXTENSION AND USURY LAWS. 

To the extent that it may lawfully do so, the Company (A) agrees that it will not at any time insist upon, plead, or in
any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law (wherever or whenever enacted or in force) that may affect the covenants or the performance of this Indenture; and (B) expressly waives all
benefits or advantages of any such law and agrees that it will not, by resort to any such law, hinder, delay or impede the execution 

  
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of any power granted to the Trustee by this Indenture, but will suffer and permit the execution of every such power as though no such law has been enacted. 

Section 3.07.  CORPORATE EXISTENCE. 

Except as permitted in Article 6, the Company will cause to preserve and keep in full force and effect its corporate
existence. 
 Article 4.    REPURCHASE AND REDEMPTION 

Section 4.01.  NO SINKING FUND. 

No sinking fund is provided for the Notes. 

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

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

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

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

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

(E)        Fundamental Change Notice. On or before the twentieth (20th)
calendar day after the effective date of a Fundamental Change, the Company will send to each Holder, the Trustee and the Paying Agent a notice of such Fundamental Change (a “Fundamental Change Notice”). Substantially
contemporaneously, the Company will issue a press release through such national newswire service as the Company then uses (or publish the same through such other widely disseminated public medium as the Company then uses, including its website)
containing the information set forth in the Fundamental Change Notice. 
 Such Fundamental Change Notice must state: 

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

(ii)     the effective date of such Fundamental Change; 

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

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

(v)      the Fundamental Change Repurchase Price per $1,000 principal amount of
Notes for such Fundamental Change (and, if such Fundamental Change Repurchase Date is after a Regular Record Date and on or before the next Interest Payment Date, the amount, manner and timing of the interest payment payable pursuant to the proviso
to Section 4.02(D)); 
 (vi)      the name and
address of the Paying Agent, Trustee and the Conversion Agent; 

  
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 (vii)    the Conversion Rate in effect
on the date of such Fundamental Change Notice and a description and quantification of any adjustments to the Conversion Rate that may result from such Fundamental Change (including pursuant to Section 5.07); 

(viii)    that Notes for which a Fundamental Change Repurchase Notice has been duly
tendered and not duly withdrawn must be delivered to the Paying Agent for the Holder thereof to be entitled to receive the Fundamental Change Repurchase Price; 

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

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

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

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

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

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

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

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

(1)      if such Note is a Physical Note, the certificate number of such Note;

 (2)      the principal amount of such Note to be repurchased, which must
be an Authorized Denomination; and 
 (3)      that such Holder is exercising
its Fundamental Change Repurchase Right with respect to such principal amount of such Note; 

  
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 provided, however, that if such Note is a Global Note, then
such Fundamental Change Repurchase Notice must comply with the Depositary Procedures (and any such Fundamental Change Repurchase Notice delivered in compliance with the Depositary Procedures will be deemed to satisfy the requirements of this
Section 4.02(F)). 
 (iii)      Withdrawal of
Fundamental Change Repurchase Notice. A Holder that has delivered a Fundamental Change Repurchase Notice with respect to a Note may withdraw such Fundamental Change Repurchase Notice by delivering a written notice of withdrawal to the Paying
Agent at any time before the Close of Business on the Business Day immediately before the related Fundamental Change Repurchase Date. Such withdrawal notice must state: 

(1)    if such Note is a Physical Note, the certificate number of such Note; 

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

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

  
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delivered or such Depositary Procedures are complied with pursuant to the first sentence of this Section 4.02(G). 

(H)        Third Party May Conduct Repurchase Offer In Lieu of the Company.
Notwithstanding anything to the contrary in this Section 4.02, the Company will be deemed to satisfy its obligations under this Section 4.02 if (i) one or more third parties conduct any
Repurchase Upon Fundamental Change and related offer to repurchase Notes otherwise required by this Section 4.02 in a manner that would have satisfied the requirements of this Section 4.02 if
conducted directly by the Company; and (ii) an owner of a beneficial interest in any Note repurchased by such third party or parties will not receive a lesser amount (as a result of taxes, additional expenses or for any other reason) than such
owner would have received had the Company repurchased such Note. 

(I)        Compliance with Securities Laws. The Company will comply with all
federal and state securities laws in connection with a Repurchase Upon Fundamental Change (including complying with Rules 13e-4 and 14e-1 under the Exchange Act and
filing any required Schedule TO, to the extent applicable) so as to permit effecting such Repurchase Upon Fundamental Change in the manner set forth in this Indenture; provided, however, that, to the extent that the Company’s
obligations pursuant to this Section 4.02 conflict with any law or regulation that is applicable to the Company, the Company’s compliance with such law or regulation will not be considered to be a default of such
obligations. 
 (J)        Repurchase in Part. Subject to the terms of this
Section 4.02, Notes may be repurchased pursuant to a Repurchase Upon Fundamental Change in part, but only in Authorized Denominations. Provisions of this Section 4.02 applying to the repurchase of
a Note in whole will equally apply to the repurchase of a permitted portion of a Note. 
 Section 4.03.  RIGHT
OF THE COMPANY TO REDEEM THE NOTES. 

(A)        No Right to Redeem Before April 17, 2023. The
Company may not redeem the Notes at its option at any time before April 17, 2023. 

(B)        Right to Redeem the Notes on or After
April 17, 2023. Subject to the terms of this Section 4.03, the Company has the right, at its election, to redeem all, or any portion in an Authorized Denomination, of the Notes, at any time and
from time to time, on a Redemption Date on or after April 17, 2023 and on or before the fortieth (40th) Scheduled Trading Day immediately before the Maturity Date, for a cash purchase price equal to the Redemption Price, but only if the Last
Reported Sale Price per share of Common Stock exceeds one hundred and thirty percent (130%) of the Conversion Price on (i) each of at least twenty (20) Trading Days (whether or not consecutive) during the thirty (30) consecutive
Trading Days ending on, and including, the Trading Day immediately before the Redemption Notice Date for such Redemption; and (ii) the Trading Day immediately before such Redemption Notice Date. For the avoidance of doubt, the calling of any
Notes for Redemption will constitute a Make-Whole Fundamental Change with respect to such Notes pursuant to clause (B) of the definition thereof. 

(C)        Redemption Prohibited in Certain Circumstances. If the principal
amount of the Notes has been accelerated in accordance with this Indenture and such acceleration has not been 

  
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rescinded on or before 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), then
(i) the Company may not redeem any Notes pursuant to this Section 4.03; and (ii) the Company will cause any Notes theretofore surrendered for such Redemption (but not yet redeemed) to be returned to the Holders
thereof (or, if applicable with respect to Global Notes, cancel any instructions for book-entry transfer to the Company, the Trustee or the Paying Agent of the applicable beneficial interests in such Notes in accordance with the Depositary
Procedures). 
 (D)        Redemption Date. The Redemption Date for any
Redemption will be a Business Day of the Company’s choosing that is no more than sixty-five (65), nor less than forty-five (45), Scheduled Trading Days after the Redemption Notice Date for such Redemption. 

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

(F)        Redemption Notice. To call any Notes for Redemption, the Company
must (x) send to each Holder of such Notes, the Trustee and the Paying Agent a written notice of such Redemption (a “Redemption Notice”); and (y) substantially contemporaneously therewith or promptly thereafter, either, at
the Company’s election, issue a press release through such national newswire service as the Company then uses containing the information set forth in the Redemption Notice or publish the same through such other widely disseminated public medium
as the Company then uses, including its website. 
 Such Redemption Notice must state: 

(i)      that such Notes have been called for Redemption; 

(ii)     the Redemption Date for such Redemption; 

(iii)    the Redemption Price per $1,000 principal amount of Notes for such Redemption
(and, if the Redemption Date is after a Regular Record Date and on or before the next Interest Payment Date, the amount, manner and timing of the interest payment 

  
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payable pursuant to the proviso to Section 4.03(E)); 

(iv)    the name and address of the Paying Agent and the Conversion Agent; 

(v)     that Notes called for Redemption may be converted at any time before the
Close of Business on the Business Day immediately before the Redemption Date (or, if the Company fails to pay the Redemption Price due on such Redemption Date in full, at any time until such time as the Company pays such Redemption Price in full);

 (vi)    the Conversion Rate in effect on the Redemption Notice Date for such
Redemption and a description and quantification of any adjustments to the Conversion Rate that may result from such Redemption (including pursuant to Section 5.07); 

(vii)    the Settlement Method that will apply to all conversions of such Notes with a
Conversion Date that occurs on or after such Redemption Notice Date and before such Redemption Date; and 

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

On or before the Redemption Notice Date, the Company will send a copy of such Redemption Notice to the Trustee and the Paying
Agent. 
 (G)        Selection and Conversion of Notes to Be Redeemed in
Part. If less than all Notes then outstanding are called for Redemption, then: 

(i)      the Notes to be redeemed will be selected as follows: (1) in the
case of Global Notes, in accordance with the Depositary Procedures; and (2) in the case of Physical Notes, pro rata, by lot or by such other method the Company considers fair and appropriate; and 

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

For the avoidance of doubt, pursuant to Section 2.10(E), in the event of any Redemption in part, the
Company will not be required to register the transfer or exchange of any Notes selected for such partial Redemption, in whole or in part, except the unredeemed portion of any Notes being Redeemed in part. 

(H)        Payment of the Redemption Price. Without limiting the Company’s
obligation to deposit the Redemption Price by the time proscribed by Section 3.01(B), the Company will cause the Redemption Price for a Note (or portion thereof) subject to Redemption to be paid to the Holder thereof on or
before the applicable Redemption Date. For the avoidance of doubt, interest payable pursuant to the proviso to Section 4.03(E) on any Note (or portion thereof) subject to Redemption must be paid pursuant to such proviso.

 (I)        If the Company elects to redeem less than all of the outstanding Notes
pursuant to this Section 4.03, and the Holder of any Note, or any owner of a beneficial interest in any Global 

  
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Note, is reasonably not able to determine, before the Close of Business on the forty-second (42nd) Scheduled Trading Day immediately before the Redemption Date for such Redemption, whether such
Note or beneficial interest, as applicable, is to be redeemed pursuant to such Redemption, then such Holder or owner, as applicable, will be entitled to convert such Note or beneficial interest, as applicable, at any time before the Close of
Business on the Business Day immediately before such Redemption Date, and each such conversion will be deemed to be of a Note called for Redemption for purposes of this Section 4.03 and Sections 5.01(C)(i)(4)
and 5.07. 
 Article 5.    CONVERSION 

Section 5.01.  RIGHT TO CONVERT. 

(A)        Generally. Subject to the provisions of this Article 5, each
Holder may, at its option, convert such Holder’s Notes into Conversion Consideration. For the avoidance of doubt, Holders may convert their Notes only in the circumstances set forth in Section 5.01(C). 

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

(C)        When Notes May Be Converted. 

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

(1)      Conversion upon Satisfaction of Common Stock Sale Price
Condition. Prior to the Close of Business on the Business Day immediately preceding the Free Convertibility Date, a Holder may convert its Notes during any calendar quarter (and only during such calendar quarter) commencing after the calendar
quarter ending on September 30, 2020, if the Last Reported Sale Price per share of Common Stock for each of at least twenty (20) Trading Days (whether or not consecutive) during the thirty (30) consecutive Trading Days ending on, and
including, the last Trading Day of the immediately preceding calendar quarter exceeds one hundred and thirty percent (130%) of the Conversion Price then in effect on each applicable Trading Day, as determined by the Company in good faith. 

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

  
 - 38 - 

 
with the following paragraph. The condition set forth in the preceding sentence is referred to in this Indenture as the “Trading Price Condition.” 

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

(3)      Conversion upon Specified Corporate Events. 

(a)      Certain Distributions. If, prior to the Close of Business on
the Business Day immediately preceding the Free Convertibility Date, the Company elects to: 

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

  
 - 39 - 

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

then, in either case, (x) the Company will send notice of such distribution, and of the related right to convert Notes,
to Holders, the Trustee and the Conversion Agent at least forty-five (45) Scheduled Trading Days before the Ex-Dividend Date for such distribution (or, if later in the case of any such separation of
rights issued pursuant to a stockholder rights plan or the occurrence of any such triggering event under a stockholder rights plan, as soon as reasonably practicable after the Company becomes aware that such separation or triggering event has
occurred or will occur); and (y) once the Company has sent such notice, Holders may convert their Notes at any time until the earlier of the Close of Business on the Business Day immediately before such
Ex-Dividend Date and the Company’s announcement that such distribution will not take place. 

(b)      Certain Corporate Events. If a Fundamental Change, Make-Whole
Fundamental Change (other than a Make-Whole Fundamental Change pursuant to clause (B) of the definition thereof) or Common Stock Change Event occurs prior to the Close of Business on the Business Day immediately preceding the Free
Convertibility Date (other than a merger or other business combination transaction that is effected solely to change the Company’s jurisdiction of incorporation and that does not constitute a Fundamental Change or a Make-Whole Fundamental
Change), then, in each case, Holders may convert their Notes at any time from, and including, the effective date of such transaction or event to, and including, the thirty-fifth (35th) Trading Day after such effective date (or, if such transaction
or event also constitutes a Fundamental Change, to, but excluding, the related Fundamental Change Repurchase Date); provided, however, that if the Company does not provide the notice referred to in the immediately following sentence by
the Business Day following such effective date, then the last day on which the Notes are convertible pursuant to this sentence will be extended by the number of Business Days from, and including, the Business Day following such effective date to,
but excluding, the date the Company provides such notice. No later than the Business Day following such effective date, the Company will send notice to the Holders, the Trustee and the Conversion Agent of such transaction or event, such effective
date and the related right to convert Notes. 
 (4)      Conversion upon
Redemption. If the Company calls all or any Notes for Redemption and the Redemption Notice Date occurs before the Free Convertibility Date, then the Holder of any Note may convert such Note at any time

  
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before the Close of Business on the Business Day immediately before the related Redemption Date (or, if the Company fails to pay the Redemption Price due on such Redemption Date in full, at any
time until such time as the Company pays such Redemption Price in full). 

(5)      Conversions During Free Convertibility Period. A Holder may
convert its Notes at any time from, and including, the Free Convertibility Date until the Close of Business on the second (2nd) Scheduled Trading Day immediately before the Maturity Date. 

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

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

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

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

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

(A)        Generally. 

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

(ii)      Physical Notes. To convert all or a portion of a Physical Note
that is convertible pursuant to Section 5.01(C), the Holder of such Note must (1) complete, 

  
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manually sign and deliver to the Conversion Agent the conversion notice attached to such Physical Note or a facsimile of such conversion notice; (2) deliver such Physical Note to the
Conversion Agent (at which time such conversion will become irrevocable); (3) furnish any endorsements and transfer documents that the Company, the Trustee or the Conversion Agent may require; and (4) if applicable, pay any amounts due pursuant
to Section 5.02(D) or Section 5.02(E). 

(B)        Effect of Converting a Note. At the Close of Business on the
Conversion Date for a Note (or any portion thereof) to be converted, such Note (or such portion) will (unless there occurs a Default in the delivery of the Conversion Consideration or interest due, pursuant to
Section 5.03(B) or Section 5.02(D), upon such conversion) be deemed to cease to be outstanding (and, for the avoidance of doubt, no Person will be deemed to be a Holder of such Note (or such
portion thereof) as of the Close of Business on such Conversion Date), except to the extent provided in Section 5.02(D). 

(C)        Holder of Record of Conversion Shares. The Person in whose name the
certificate for (or book-entry representing) any share of Common Stock is registered on the books of the Company or its transfer agent upon conversion of any Note will be deemed to become the holder of record of such share as of the Close of
Business on (i) the Conversion Date for such conversion, in the case of Physical Settlement; or (ii) the last VWAP Trading Day of the Observation Period for such conversion, in the case of Combination Settlement. Upon a conversion of any
Notes, such person will no longer be a Holder of such Notes surrendered for conversion. 

(D)        Interest Payable upon Conversion in Certain Circumstances. If the
Conversion Date of a Note is after a Regular Record Date and before the next Interest Payment Date, then (i) the Holder of such Note at the Close of Business on such Regular Record Date will be entitled, notwithstanding such conversion (and,
for the avoidance of doubt, notwithstanding anything set forth in, and without affecting the operation of, the proviso to this sentence), to receive, on or, at the Company’s election, before such Interest Payment Date, the unpaid interest that
would have accrued on such Note to, but excluding, such Interest Payment Date (assuming, solely for these purposes, that such Note remained outstanding through such Interest Payment Date); and (ii) the Holder surrendering such Note for
conversion must deliver to the Conversion Agent, at the time it surrenders such Note, an amount of cash equal to the amount of such interest referred to in clause (i) above; provided, however, that the Holder surrendering such
Note for conversion need not deliver such cash (v) if the Company has specified a Redemption Date that is after such Regular Record Date and on or before the corresponding Interest Payment Date (or, if such Interest Payment Date is not a
Business Day, the Business Day immediately after such Interest Payment Date); (w) if such Conversion Date occurs after the Regular Record Date immediately before the Maturity Date; (x) if the Company has specified a Fundamental Change
Repurchase Date that is after such Regular Record Date and on or before the corresponding Interest Payment Date (or, if such Interest Payment Date is not a Business Day, the Business Day immediately after such Interest Payment Date); or (y) to
the extent of any overdue interest or interest that has accrued on any overdue interest. For the avoidance of doubt, as a result of, and without limiting the generality of, the foregoing, if a Note is converted with a Conversion Date that is after
the Regular Record Date immediately before the Maturity Date, then the Company will pay, as provided above, the interest that would have accrued on such Note to, but excluding, the Maturity Date. For the avoidance of doubt, if the Conversion Date of
a Note to be converted is on an Interest Payment Date, then the 

  
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Holder of such Note at the Close of Business on the Regular Record Date immediately before such Interest Payment Date will be entitled to receive, on such Interest Payment Date, the unpaid
interest that has accrued on such Note to, but excluding, such Interest Payment Date, and such Note, when surrendered for conversion, need not be accompanied by any cash amount pursuant to the first sentence of this
Section 5.02(D). 
 (E)        Taxes and Duties. If
a Holder submits a Note for conversion, the Company will pay any documentary, stamp or similar issue or transfer tax or duty due on the issue or delivery of any shares of Common Stock upon such conversion; provided, however, that if
any tax or duty is due because such Holder requests such shares to be registered in a name other than such Holder’s name, then such Holder will pay such tax or duty and, until having received a sum sufficient to pay such tax or duty, the
Conversion Agent may refuse to deliver any such shares to be issued in a name other than that of such Holder. 

(F)        Conversion Agent to Notify Company of Conversions. If any Note is
submitted for conversion to the Conversion Agent or the Conversion Agent receives any notice of conversion with respect to a Note, then the Conversion Agent will promptly (and, in any event, no later than the date the Conversion Agent receives such
Note or notice) notify the Company and the Trustee of such occurrence, together with any other information reasonably requested by the Company, and will cooperate with the Company to determine the Conversion Date for such Note. 

Section 5.03.  SETTLEMENT UPON CONVERSION. 

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

The Company will have the right to elect the Settlement Method applicable to any conversion of a Note; provided,
however, that: 
 (i)      subject to clause (iii) below,
all conversions of Notes with a Conversion Date that occurs on or after the Free Convertibility Date will be settled using the same Settlement Method, and the Company will send notice of such Settlement Method (and, if it chooses Combination
Settlement, the Specified Dollar Amount) to Holders and the Conversion Agent no later than the Open of Business on the Free Convertibility Date; 

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

(iii)      if any Notes are called for Redemption, then (1) the Company
will specify, 

  
 - 43 - 

 
in the related Redemption Notice (and, in the case of a Redemption of less than all outstanding Notes, in a notice simultaneously sent to all Holders of Notes not called for Redemption) sent
pursuant to Section 4.03(F), the Settlement Method (and, if it chooses Combination Settlement, the Specified Dollar Amount) that will apply to all conversions of Notes with a Conversion Date that occurs on or after the
related Redemption Notice Date and before the related Redemption Date; and (2) if such Redemption Date occurs on or after the Free Convertibility Date, then such Settlement Method must be the same Settlement Method that, pursuant to clause
(i) above, applies to all conversions of Notes with a Conversion Date that occurs on or after the Free Convertibility Date; 

(iv)      the Company will use the same Settlement Method for all conversions of
Notes with the same Conversion Date (and, for the avoidance of doubt, the Company will not be obligated to use the same Settlement Method with respect to conversions of Notes with different Conversion Dates, except as provided in clause
(i) or (iii) above); 
 (v)        if the Company
does not timely elect a Settlement Method with respect to the conversion of a Note, then the Company will be deemed to have elected the Default Settlement Method (and, for the avoidance of doubt, the Company’s failure to timely make such
election will not constitute a Default or Event of Default); 

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

(vii)      the Settlement Method will be subject to
Section 5.09(A)(2). 
 In addition, the Company will have the right, exercisable at its election by
sending notice of such exercise to the Holders (with a copy to the Trustee and the Conversion Agent), to irrevocably fix the Settlement Method that will apply to all conversions of Notes with a Conversion Date that occurs on or after the date such
notice is sent to Holders, provided that such Settlement Method must be a Settlement Method that the Company is then permitted to elect (for the avoidance of doubt, including pursuant to, and subject to, the other provisions of this
Section 5.03(A)). Such notice, if sent, must set forth the applicable Settlement Method and expressly state that the election is irrevocable and applicable to all conversions of Notes with a Conversion Date that occurs on
or after the date such notice is sent to Holders. For the avoidance of doubt, such an irrevocable election, if made, will be effective without the need to amend this Indenture or the Notes, including pursuant to
Section 8.01(G) (it being understood, however, that the Company may nonetheless choose to execute such an amendment at its option). 

(B)        Conversion Consideration. 

(i)      Generally. Subject to
Section 5.03(B)(ii) and Section 5.03(B)(iii), the type and amount of consideration (the “Conversion Consideration”) due upon conversion of

  
 - 44 - 

 
each $1,000 principal amount of a Note will be as follows: 

(1)      if Physical Settlement applies to such conversion, a number of shares
of Common Stock equal to the Conversion Rate in effect on the Conversion Date for such conversion; 

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

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

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

(iv)      Notice of Calculation of Conversion Consideration. If Cash
Settlement or Combination Settlement applies to the conversion of any Note, then the Company will determine the Conversion Consideration due thereupon promptly following the last VWAP Trading Day of the applicable Observation Period and will
promptly thereafter send notice to the Trustee and the Conversion Agent of the same and the calculation thereof in reasonable detail. Neither the Trustee nor the Conversion Agent will have any duty to make any such determination. 

(C)        Delivery of the Conversion Consideration. Except as set forth in
Sections 5.05 and 5.09, the Company will pay or deliver, as applicable, the Conversion Consideration due upon the conversion of any Note to the Holder as follows: (i) if Cash Settlement or Combination Settlement applies to
such conversion, on or before the second (2nd) Business Day immediately after the last VWAP Trading Day of the Observation Period for such conversion; and (ii) if Physical Settlement 

  
 - 45 - 

 
applies to such conversion, on or before the second (2nd) Business Day immediately after the Conversion Date for such conversion; provided, however, that if Physical Settlement
applies to the conversion of any Note with a Conversion Date that is after the Regular Record Date immediately before the Maturity Date, then, solely for purposes of such conversion, (x) the Company will pay or deliver, as applicable, the
Conversion Consideration due upon such conversion no later than the Maturity Date (or, if the Maturity Date is not a Business Day, the next Business Day); and (y) the Conversion Date will instead be deemed to be the second (2nd) Business Day
immediately before the Maturity Date. 
 (D)        Deemed Payment of Principal
and Interest; Settlement of Accrued Interest Notwithstanding Conversion. If a Holder converts a Note, then the Company will not adjust the Conversion Rate to account for any accrued and unpaid interest on such Note being converted, and, except
as provided in Section 5.02(D), the Company’s delivery of the Conversion Consideration due in respect of such conversion will be deemed to fully satisfy and discharge the Company’s obligation to pay the principal
of, and accrued and unpaid interest, if any, on, such Note to, but excluding, the Conversion Date. As a result, except as provided in Section 5.02(D), any accrued and unpaid interest on a converted Note will be deemed to be
paid in full rather than cancelled, extinguished or forfeited. In addition, if the Conversion Consideration for a Note consists of both cash and shares of the Common Stock, then accrued and unpaid interest that is deemed to be paid therewith will be
deemed to be paid first out of such cash. 
 Section 5.04.  RESERVE AND STATUS
OF COMMON STOCK ISSUED UPON CONVERSION. 

(A)        Stock Reserve. At all times when any Notes are outstanding, the
Company will reserve, out of its authorized, unreserved and not outstanding shares of Common Stock, a number of shares of Common Stock sufficient to permit the conversion of all then-outstanding Notes, assuming (x) Physical Settlement will
apply to such conversion; and (y) the Conversion Rate is increased by the maximum amount pursuant to which the Conversion Rate may be increased pursuant to Section 5.07. To the extent the Company delivers shares of
Common Stock held in its treasury in settlement of the conversion of any Notes, each reference in this Indenture or the Notes to the issuance of shares of Common Stock in connection therewith will be deemed to include such delivery, mutatis
mutandis. 
 (B)        Status of Conversion Shares; Listing. Each
Conversion Share, if any, delivered upon conversion of any Note will be a newly issued or treasury share (except that any Conversion Share delivered by a designated financial institution pursuant to Section 5.08 need not be
a newly issued or treasury share) and will be duly and validly issued, fully paid, non-assessable and free from statutory preemptive rights. If the Common Stock is then listed on any securities exchange, or
quoted on any inter-dealer quotation system, then the Company will use reasonable efforts to cause each Conversion Share, when delivered upon conversion of any Note, to be admitted for listing on such exchange or quotation on such system. 

Section 5.05.  ADJUSTMENTS TO THE CONVERSION RATE. 

(A)        Events Requiring an Adjustment to the Conversion Rate. The
Conversion Rate will be adjusted from time to time by the Company (without duplication) for the events set forth below 

  
 - 46 - 

 
as follows: 

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

 
 

 
  

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

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

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

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

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

(ii)      Rights, Options and Warrants. If the Company distributes, to
all or substantially all holders of Common Stock, any rights, options or warrants (other than rights issued or otherwise distributed pursuant to a stockholder rights or similar plan, as to which Sections 5.05(A)(iii)(1) and 5.05(F)
will apply) entitling such holders, for a period of not more than sixty (60) calendar days after the declaration date of such distribution, to subscribe for or purchase shares of Common Stock at a price per share that is less than the average
of the Last Reported Sale Prices per share of Common Stock for the ten (10) consecutive Trading Days ending on, and including, the Trading Day immediately before 

  
 - 47 - 

 
such declaration date, then the Conversion Rate will be increased based on the following formula: 
  

 
  

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

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

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

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

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

 For the avoidance of doubt, each adjustment to the Conversion Rate made pursuant to this
Section 5.05(A)(ii) will become effective at the time set forth in the definition of CR1 above. To the extent such rights, options or warrants are not so
distributed, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect had the increase to the Conversion Rate for such distribution been made on the basis of only the rights, options or warrants, if any, actually
distributed. In addition, to the extent that shares of Common Stock are not delivered after the expiration of such rights, options or warrants (including as a result of such rights, options or warrants not being exercised), the Conversion Rate will
be readjusted to the Conversion Rate that would then be in effect had the increase to the Conversion Rate for such distribution been made on the basis of delivery of only the number of shares of Common Stock actually delivered upon exercise of such
rights, option or warrants. 
 For purposes of this Section 5.05(A)(ii) and
Section 5.01(C)(i)(3)(a)(I), in determining whether any rights, options or warrants entitle holders of Common Stock to subscribe for or purchase shares of Common Stock at a price per share that is less than the average of
the Last Reported Sale Prices per share of Common Stock for the ten (10) consecutive Trading Days ending on, and including, the Trading Day immediately before the date the distribution of such rights, options or warrants is announced, and in
determining the aggregate price payable to exercise such rights, options or warrants, there will be taken into account any consideration the Company receives for such rights, options or warrants and 

  
 - 48 - 

 
any amount payable on exercise thereof, with the value of such consideration, if not cash, to be determined by the Board of Directors. 

(iii)      Spin-Offs and Other Distributed Property. 

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

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

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

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

(y)      a distribution solely pursuant to a tender offer or exchange offer for
shares of Common Stock, as to which Section 5.05(A)(v) will apply; and 

(z)      a distribution solely pursuant to a Common Stock Change Event, as to
which Section 5.09 will apply 
 (such shares of Capital Stock, evidences of indebtedness, or
other assets or property, or rights, options or warrants to acquire the Company’s Capital Stock or other securities, the “Distributed Property”), then the Conversion Rate will be increased based on the following formula: 

 
 

 
  

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

  
 - 49 - 

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

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

			
	 FMV
	 	 =
	    	 the fair market value (as determined by the Board of Directors), as of the Open of Business on such Ex-Dividend Date, of the Distributed Property distributed per share of Common Stock pursuant to such distribution;

 provided, however, that if FMV is equal to or greater than
SP, then, in lieu of the foregoing adjustment to the Conversion Rate, each Holder will receive, for each $1,000 principal amount of Notes held by such Holder on the record date for such distribution, at the same time and on the same terms on
which holders of Common Stock receive the Distributed Property, the amount and kind of Distributed Property that such Holder would have received if such Holder had owned, on such record date, a number of shares of Common Stock equal to the
Conversion Rate in effect on such record date. For the avoidance of doubt, each adjustment to the Conversion Rate made pursuant to this Section 5.05(A)(iii)(1) will become effective at the time set forth in the definition
of CR1 above. 
 To the extent such distribution is
not so paid or made, the Conversion Rate will be readjusted, effective as of the date the Board of Directors determines not to make such distribution, to the Conversion Rate that would then be in effect if such distribution had not been declared.

 (2)      Spin-Offs. If the Company distributes or dividends shares
of Capital Stock of any class or series, or similar equity interests, of or relating to a Subsidiary or other business unit of the Company to all or substantially all holders of the Common Stock (other than solely pursuant to (x) a Common Stock
Change Event, as to which Section 5.09 will apply; or (y) a tender offer or exchange offer for shares of Common Stock, as to which Section 5.05(A)(v) will apply), and such Capital Stock or
equity interests are listed or quoted (or will be listed or quoted upon the consummation of the transaction) on a U.S. national securities exchange (a “Spin-Off”), then the Conversion Rate
will be increased based on the following formula: 
  
 

 
  

					
	 where:
	    	
			
	 CR0
	 	 =
	    	 the Conversion Rate in effect immediately before the Close
of

  
 - 50 - 

					
		 		    	 Business on the last Trading Day of the Spin-Off Valuation Period for such Spin-Off;

			
	 CR1
	 	 =
	    	 the Conversion Rate in effect immediately after the Close of Business on the last Trading Day of the Spin-Off Valuation Period;

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

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

 For the avoidance of doubt, each adjustment to the Conversion Rate made pursuant to
this Section 5.05(A)(iii)(2) will become effective at the time set forth in the definition of CR1 above. Notwithstanding anything to the contrary in this
Section 5.05(A)(iii)(2), (i) if any VWAP Trading Day of the Observation Period for a Note whose conversion will be settled pursuant to Cash Settlement or Combination Settlement occurs during the Spin-Off Valuation Period for such Spin-Off, then, solely for purposes of determining the Conversion Rate for such VWAP Trading Day for such conversion, such Spin-Off Valuation Period will be deemed to consist of the Trading Days occurring in the period from, and including, the Ex-Dividend Date for such Spin-Off to, and including, such VWAP Trading Day; and (ii) if the Conversion Date for a Note whose conversion will be settled pursuant to Physical Settlement occurs during the
Spin-Off Valuation Period for such Spin-Off, then, solely for purposes of determining the Conversion Consideration for such conversion, such Spin-Off Valuation Period will be deemed to consist of the Trading Days occurring in the period from, and including, the Ex-Dividend Date for such Spin-Off to, and including, such Conversion Date. 
 To the extent any dividend or
distribution of the type described in this Section 5.05(A)(iii)(2) is declared but not made or paid, the Conversion Rate will be readjusted, effective as of the date the Board of Directors determines not to make such
dividend or distribution, to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared. 

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

  
 - 51 - 

 
be increased based on the following formula: 
  
 

 
  

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

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

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

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

 provided, however, that if D is equal to or greater than SP,
then, in lieu of the foregoing adjustment to the Conversion Rate, each Holder will receive, for each $1,000 principal amount of Notes held by such Holder on the record date for such dividend or distribution, at the same time and on the same terms as
holders of Common Stock, the amount of cash that such Holder would have received if such Holder had owned, on such record date, a number of shares of Common Stock equal to the Conversion Rate in effect on such record date. For the avoidance of
doubt, each adjustment to the Conversion Rate made pursuant to this Section 5.05(A)(iv) will become effective at the time set forth in the definition of
CR1 above. 
 To the extent such dividend or
distribution is declared but not made or paid, the Conversion Rate will be readjusted, effective as of the date the Board of Directors determines not to make such dividend or determination, to the Conversion Rate that would then be in effect if such
dividend or distribution had not been declared. 
 (v)      Tender Offers
or Exchange Offers. If the Company or any of its Subsidiaries makes a payment in respect of a tender offer or exchange offer for shares of Common Stock, and the value (determined as of the Expiration Time by the Board of Directors) of the cash
and other consideration paid per share of Common Stock in such tender or exchange offer exceeds the average of the Last Reported Sale Prices per share of Common Stock over the ten (10) consecutive Trading Day period (the
“Tender/Exchange Offer Valuation Period”) commencing on, and including, the Trading Day immediately after the last date (the “Expiration Date”) on which tenders or exchanges may be made pursuant to such tender or
exchange offer (as it may be amended), then the Conversion Rate will be 

  
 - 52 - 

 
increased based on the following formula: 
  
 

 
  

					
	 where:
	    	
			
	 CR0
	 	 =
	    	 the Conversion Rate in effect immediately before the Close of Business on the last Trading Day of the Tender/Exchange Offer
Valuation Period for such tender or exchange offer;

			
	 CR1
	 	 =
	    	 the Conversion Rate in effect immediately after the Close of Business on the last Trading Day of the Tender/Exchange Offer
Valuation Period;

			
	 AC
	 	 =
	    	 the fair market value (determined by the Board of Directors), as of the time (the “Expiration Time”) such tender
or exchange offer expires, of all cash and other consideration paid for shares of Common Stock purchased or exchanged in such tender or exchange offer;

			
	 OS0
	 	 =
	    	 the number of shares of Common Stock outstanding immediately before the Expiration Time (including, for the avoidance of
doubt, all shares of Common Stock accepted for purchase or exchange in such tender or exchange offer);

			
	 OS1
	 	 =
	    	 the number of shares of Common Stock outstanding immediately after the Expiration Time (excluding, for the avoidance of
doubt, 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 per share of Common Stock over the Tender/Exchange Offer Valuation
Period.

 For the avoidance of doubt, each adjustment to the Conversion Rate made pursuant to this
Section 5.05(A)(v) will become effective at the time set forth in the definition of CR1 above. Notwithstanding anything to the contrary in this
Section 5.05(A)(v), (i) if any VWAP Trading Day of the Observation Period for a Note whose conversion will be settled pursuant to Cash Settlement or Combination Settlement occurs during the Tender/Exchange Offer Valuation
Period for such tender or exchange offer, then, solely for purposes of determining the Conversion Rate for such VWAP Trading Day for such conversion, such Tender/Exchange Offer Valuation Period will be deemed to consist of the Trading Days occurring
in the period from, and including, the Trading Day immediately after the Expiration Date for such tender or exchange offer to, and including, such VWAP Trading Day; and (ii) if the Conversion Date for a Note whose conversion will be settled
pursuant to Physical Settlement occurs during the Tender/Exchange Offer Valuation Period for such tender or exchange offer, then, solely for purposes of determining the Conversion Consideration for such conversion, such Tender/Exchange Offer
Valuation Period will be 

  
 - 53 - 

 
deemed to consist of the Trading Days occurring in the period from, and including, the Trading Day immediately after the Expiration Date to, and including, such Conversion Date. 

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

(B)        No Adjustments in Certain Cases. 

(i)      Where Holders Participate in the Transaction or Event Without
Conversion. Notwithstanding anything to the contrary in Section 5.05(A), the Company will not be obligated to adjust the Conversion Rate on account of a transaction or other event otherwise requiring an adjustment
pursuant to Section 5.05(A) (other than a stock split or combination of the type set forth in Section 5.05(A)(i) or a tender or exchange offer of the type set forth in
Section 5.05(A)(v)) if each Holder participates, at the same time and on the same terms as holders of Common Stock, and solely by virtue of being a Holder of Notes, in such transaction or event without having to convert
such Holder’s Notes and as if such Holder held a number of shares of Common Stock equal to the product of (i) the Conversion Rate in effect on the related record date; and (ii) the aggregate principal amount (expressed in thousands)
(i.e., divided by $1,000) of Notes held by such Holder on such date. 

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

(1)      except as otherwise provided in
Section 5.05(A), the issuance or sale of shares of Common Stock or any securities convertible into or exchangeable for Common Stock or rights to purchase Common Stock or such convertible or exchangeable securities; 

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

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

(4)      the issuance of any shares of Common Stock pursuant to any option,

  
 - 54 - 

 
warrant, right or convertible, exercisable or exchangeable security of the Company outstanding as of the Issue Date; 

(5)      the repurchase of shares of Common Stock pursuant to an open-market
share repurchase program or other buy-back transaction that is not a tender offer or exchange offer of the kind described in Section 5.05(A)(v); 

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

(7)      accrued and unpaid interest on the Notes. 

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

 (D)        Adjustments Not Yet Effective. Notwithstanding anything to the
contrary in this Indenture or the Notes, if: 
 (i)      a Note is to be
converted pursuant to Physical Settlement or Combination Settlement; 

(ii)     the record date, effective date or Expiration Time for any event that
requires an adjustment to the Conversion Rate pursuant to Section 5.05(A) has occurred on or before the Conversion Date for such conversion (in the case of Physical Settlement) or on or before any VWAP Trading Day in the
Observation Period for such conversion (in the case of Combination Settlement), but an adjustment to the Conversion Rate for such event has not yet become effective as of such Conversion Date or VWAP Trading Day, as applicable; 

(iii)     the Conversion Consideration due upon such conversion includes any whole
shares of Common Stock (in the case of Physical Settlement) or due in respect of such VWAP Trading Day includes any whole or fractional shares of Common Stock (in the case of Combination Settlement); and 

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

  
 - 55 - 

 
delay the settlement of such conversion until the second (2nd) Business Day after such first date. 

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

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

(ii)      a Note is to be converted pursuant to Physical Settlement or
Combination Settlement; 
 (iii)     the Conversion Date for such conversion (in
the case of Physical Settlement) or any VWAP Trading Day in the Observation Period for such conversion (in the case of Combination Settlement) occurs on or after such Ex-Dividend Date and on or before the
related record date; 
 (iv)     the Conversion Consideration due upon such
conversion includes any whole shares of Common Stock (in the case of Physical Settlement) or due in respect of such VWAP Trading Day includes any whole or fractional shares of Common Stock (in the case of Combination Settlement), in each case based
on a Conversion Rate that is adjusted for such dividend or distribution; and 

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

(F)        Stockholder Rights Plans. If any shares of Common Stock are to be
issued upon conversion of any Note and, at the time of such conversion, the Company has in effect any stockholder rights or similar plan, then the Holder of such Note will be entitled to receive, in addition to, and concurrently with the delivery
of, the Conversion Consideration otherwise payable under this Indenture upon such conversion, the rights set forth in such stockholder rights or similar plan, unless such rights have separated from the Common Stock at such time in accordance with
the provisions of the applicable plan in a manner such that Holders would not be entitled to receive such rights in respect of the Company’s Common Stock, if any, issuable upon conversion of the Notes, in which case, and only in such case, the
Conversion Rate will be adjusted pursuant to Section 5.05(A)(iii)(1) on account of such separation as if, at the time of such separation, the Company had made a distribution of the type referred to in such Section to all
holders of the Common Stock, subject to readjustment in accordance with such Section if such rights expire, terminate or are redeemed. 

(G)        Equitable Adjustments to Prices. Whenever any provision of this
Indenture requires the Company to calculate the average of the Last Reported Sale Prices, or any function thereof, 

  
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over a period of multiple days (including to calculate the Stock Price or an adjustment to the Conversion Rate), or to calculate Daily VWAPs over an Observation Period, the Company will (in its
good faith determination) make appropriate adjustments, if any, to such calculations to account for any adjustment to the Conversion Rate pursuant to Section 5.05(A)(i) that becomes effective, or any event requiring such an
adjustment to the Conversion Rate where the Ex-Dividend Date or effective date, as applicable, of such event occurs, at any time during such period or Observation Period, as applicable. 

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

(I)        Calculations. All calculations and other determinations under this
Section 5.05(A) will be made by the Company and will be made to the nearest 1/10,000th of a share of Common Stock. 

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

Section 5.06.  VOLUNTARY ADJUSTMENTS. 

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

(B)        Notice of Voluntary Increases. If the Board of Directors determines
to increase the Conversion Rate pursuant to Section 5.06(A), then, no later than the first Business Day of the period that such increase is in effect, the Company will send notice to each Holder, the Trustee and the
Conversion Agent of such increase, the amount thereof and the period during which such increase will be in effect. 

Section 5.07.  ADJUSTMENTS TO THE CONVERSION RATE
IN CONNECTION WITH A MAKE-WHOLE FUNDAMENTAL CHANGE. 

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

  
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below corresponding (after interpolation as provided in, and subject to, the provisions below) to the Make-Whole Fundamental Change Effective Date and the Stock Price of such Make-Whole
Fundamental Change: 
  

																																			
	
Make-Whole
Fundamental
Change Effective
Date
	  	Stock Price
	  	  

$26.21
	  	$30.00	  	$32.50	  	$35.38	  	$37.50	  	$40.00	  	$46.00	  	$50.00	  	$60.00	  	$70.00	  	$80.00	  	$90.00	  	$100.00	  	$125.00	  	$150.00	  	$200.00	  	$250.00
	 April 17, 2020
	  	9.8915	  	7.9023	  	6.7468	  	5.6962	  	5.0688	  	4.4520	  	3.3600	  	2.8414	  	1.9723	  	1.4491	  	1.1065	  	0.8670	  	0.6912	  	0.4071	  	0.2408	  	0.0680	  	0.0000
	 April 15, 2021
	  	9.8915	  	7.5850	  	6.3815	  	5.3016	  	4.6651	  	4.0470	  	2.9770	  	2.4832	  	1.6825	  	1.2204	  	0.9268	  	0.7253	  	0.5788	  	0.3430	  	0.2041	  	0.0576	  	0.0000
	 April 15, 2022
	  	9.8915	  	7.1417	  	5.8782	  	4.7646	  	4.1205	  	3.5063	  	2.4785	  	2.0244	  	1.3250	  	0.9469	  	0.7163	  	0.5617	  	0.4501	  	0.2698	  	0.1617	  	0.0451	  	0.0000
	 April 15, 2023
	  	9.8915	  	6.5807	  	5.2206	  	4.0540	  	3.3997	  	2.7948	  	1.8413	  	1.4518	  	0.9042	  	0.6383	  	0.4854	  	0.3844	  	0.3112	  	0.1901	  	0.1152	  	0.0315	  	0.0000
	 April 15, 2024
	  	9.8915	  	5.8257	  	4.2677	  	2.9997	  	2.3363	  	1.7670	  	0.9926	  	0.7332	  	0.4340	  	0.3131	  	0.2453	  	0.1989	  	0.1637	  	0.1023	  	0.0627	  	0.0167	  	0.0000
	 April 15, 2025
	  	9.8915	  	5.0717	  	2.5074	  	0.0000	  	0.0000	  	0.0000	  	0.0000	  	0.0000	  	0.0000	  	0.0000	  	0.0000	  	0.0000	  	0.0000	  	0.0000	  	0.0000	  	0.0000	  	0.0000

 If such Make-Whole Fundamental Change Effective Date or Stock Price is not set forth in the
table above, then: 
 (i)      if such Stock Price is between two Stock Prices
in the table above or the Make-Whole Fundamental Change Effective Date is between two dates in the table above, then the number of Additional Shares will be determined by straight-line interpolation between the numbers of Additional Shares set forth
for the higher and lower Stock Prices in the table above or the earlier and later dates in the table above, based on a 365- or 366-day year, as applicable; and 

(ii)      if the Stock Price is greater than $250.00 (subject to adjustment in
the same manner as the Stock Prices set forth in the column headings of the table above are adjusted pursuant to Section 5.07(B)), or less than $26.21 (subject to adjustment in the same manner), per share, then no
Additional Shares will be added to the Conversion Rate. 
 Notwithstanding anything to the contrary in this Indenture or the
Notes, in no event will the Conversion Rate be increased to an amount that exceeds 38.1533 shares of Common Stock per $1,000 principal amount of Notes, which amount is subject to adjustment in the same manner as, and at the same time and for the
same events for which, the Conversion Rate is required to be adjusted pursuant to Section 5.05(A). 

For the avoidance of doubt, but subject to Section 4.03(I), (x) the sending of a Redemption Notice
will constitute a Make-Whole Fundamental Change only with respect to the Notes called for Redemption pursuant to such Redemption Notice, and not with respect to any other Notes; and (y) the Conversion Rate applicable to the Notes not so called
for Redemption will not be subject to increase pursuant to this Section 5.07 on account of such Redemption Notice. 

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

  
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 (C)        Notice of the
Occurrence of a Make-Whole Fundamental Change. The Company will notify the Holders, the Trustee and the Conversion Agent of each Make-Whole Fundamental Change occurring pursuant to clause (A) of the definition of such term no later
than the Business Day following the Effective Date of such Make-Whole Fundamental Change. The Company will notify Holders of each Make-Whole Fundamental Change occurring pursuant to clause (B) of the definition of such term pursuant to
Section 4.03. 
 Section 5.08.  EXCHANGE IN LIEU OF
CONVERSION. 
 Notwithstanding anything to the contrary in this Article 5, and subject to the
terms of this Section 5.08, if a Note is submitted for conversion, the Company may elect to arrange to have such Note exchanged in lieu of conversion by a financial institution designated by the Company. To make such
election, the Company must send notice of such election to the Holder of such Note, the Trustee and the Conversion Agent before the Close of Business on the Business Day (or, if Cash Settlement or Combination Settlement applies to such conversion,
the second (2nd) Business Day) immediately following the Conversion Date for such Note. If the Company has made such election, then: 

(A)        no later than the Business Day immediately following such Conversion Date,
the Company must deliver (or cause the Conversion Agent to deliver) such Note, together with delivery instructions for the Conversion Consideration due upon such conversion (including wire instructions, if applicable), to a financial institution
designated by the Company that has agreed to deliver such Conversion Consideration in the manner and at the time the Company would have had to deliver the same pursuant to this Article 5 (except as may be otherwise agreed by such institution
and the relevant Holder); 
 (B)        if such Note is a Global Note, then
(i) such designated institution will send written confirmation to the Conversion Agent promptly after wiring the cash Conversion Consideration, if any, and delivering any other Conversion Consideration, due upon such conversion to the Holder of
such Note; and (ii) the Conversion Agent will as soon as reasonably practicable thereafter contact such Holder’s custodian with the Depositary to confirm receipt of the same; and 

(C)        such Note will not cease to be outstanding by reason of such exchange in
lieu of conversion; 
 provided, however, that if such financial institution does not accept such Note or fails to timely
deliver such Conversion Consideration, then the Company will be responsible for delivering such Conversion Consideration in the manner and at the time provided in this Article 5 as if the Company had not elected to make an exchange in lieu of
conversion. 
 Section 5.09.  EFFECT OF COMMON STOCK CHANGE
EVENT. 
 (A)        Generally. If there occurs any: 

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

  
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or class of securities); 

(ii)      consolidation, merger, combination or binding or statutory share
exchange involving the Company; 
 (iii)     sale, lease or other transfer of all
or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, to any Person; or 

(iv)      other similar event, 

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

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

(2)      if such Reference Property Unit consists entirely of cash, then
(i) the consideration due upon conversion of each $1,000 principal amount of Notes will be solely cash in an amount equal to the Conversion Rate in effect on the Conversion Date for such conversion, multiplied by the amount of cash constituting
the Reference Property Unit; and (ii) the Company will pay the cash due upon such conversions no later than the second (2nd) Business Day after the relevant Conversion Date; and 

(3)      for these purposes, (I) the Daily VWAP of any Reference Property
Unit or portion thereof that consists of a class of common equity securities will be determined by reference to the definition of “Daily VWAP,” substituting, if applicable, the Bloomberg page for such class of securities in such
definition; and (II) the Daily VWAP of any Reference Property Unit or portion thereof that does not consist of a class of common equity securities, and the Last Reported Sale Price of any Reference Property Unit or portion thereof that does not
consist of a class of securities, will be the fair value of such Reference Property Unit or portion thereof, as applicable, determined in good faith by the Company (or, in the case of cash denominated in U.S. dollars, the face amount thereof). 

  
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 If the Reference Property consists of more than a single type of
consideration to be determined based in part upon any form of stockholder election, then the composition of the Reference Property Unit will be deemed to be the weighted average of the types and amounts of consideration actually received, per share
of Common Stock, by the holders of Common Stock. The Company will notify Holders of such weighted average as soon as practicable after such determination is made. 

Substantially concurrently with or prior to the effective time of such Common Stock Change Event, the Company and the
resulting, surviving or transferee Person (if not the Company) of such Common Stock Change Event (the “Successor Person”) will execute and deliver to the Trustee a supplemental indenture pursuant to
Section 8.01(F), which supplemental indenture will (x) provide for subsequent adjustments to the Conversion Rate in a manner consistent with this Article 5; and (y) contain such other provisions, if any,
that the Company reasonably determines are appropriate to preserve the economic interests of the Holders and to give effect to the provisions of this Section 5.09(A). If the Reference Property includes shares of stock or
other securities or assets (other than cash) of a Person other than the Successor Person, then such other Person will also execute such supplemental indenture and such supplemental indenture will contain such additional provisions, if any, that the
Company reasonably determines are appropriate to preserve the economic interests of the Holders. 

(B)        Notice of Common Stock Change Events. The Company will provide
notice of each Common Stock Change Event to Holders no later than the Business Day following the effective date of the Common Stock Change Event. 

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

(A)        Generally. The Company will not consolidate with or merge with or
into, or (directly, or indirectly through one or more of its Subsidiaries) sell, lease or otherwise transfer, in one transaction or a series of transactions, all or substantially all of the assets of the Company and its Subsidiaries, taken as a
whole, to another Person (a “Business Combination Event”), unless: 

(i)      the resulting, surviving or transferee Person either (x) is the
Company or (y) if not the Company, is a corporation (the “Successor Corporation”) duly organized and existing under the laws of the United States of America, any State thereof or the District of Columbia that expressly assumes
(by executing and delivering to the Trustee, at or before the effective time of such Business Combination Event, a supplemental indenture pursuant to Section 8.01(E)) all of the Company’s obligations under this
Indenture and the Notes; and 
 (ii)      immediately after giving effect to
such Business Combination Event, no Default or Event of Default will have occurred and be continuing. 

  
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 (B)        Delivery of
Officer’s Certificate and Opinion of Counsel to the Trustee. Prior to or substantially simultaneously with the effective time of any Business Combination Event, the Company will deliver to the Trustee an Officer’s Certificate and
Opinion of Counsel, each stating that (i) such Business Combination Event (and, if applicable, the related supplemental indenture) comply with Section 6.01(A); and (ii) all conditions precedent to such Business
Combination Event provided in this Indenture have been satisfied. 
 Section 6.02.  SUCCESSOR CORPORATION
SUBSTITUTED. 
 At the effective time of any Business Combination Event that complies with
Section 6.01, the Successor Corporation (if not the Company) will succeed to, and may exercise every right and power of, the Company under this Indenture and the Notes with the same effect as if such Successor Corporation
had been named as the Company in this Indenture and the Notes, and, except in the case of a lease, the predecessor Company will be discharged from its obligations under this Indenture and the Notes. 

Article 7.    DEFAULTS AND REMEDIES 

Section 7.01.  EVENTS OF DEFAULT. 

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

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

(iv)      a default in the Company’s obligation to convert a Note in
accordance with Article 5 upon the exercise of the conversion right with respect thereto, if such default is not cured within five (5) days after its occurrence; 

(v)       a default in the Company’s obligations under Article
6; 
 (vi)      a default in any of the Company’s obligations or
agreements under this Indenture or the Notes (other than a default set forth in clause (i), (ii), (iii), (iv) or (v) of this Section 7.01(A)) where such default is not cured or
waived within sixty (60) days after written notice to the Company by the Trustee, or to the Company and the Trustee by Holders of at least twenty-five percent (25%) of the aggregate principal amount of Notes then outstanding, which notice must
specify such default, demand that it be remedied and state that such notice is a “Notice of Default”; 

(vii)      a default by the Company or any of its Significant Subsidiaries with
respect 

  
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to any mortgage, agreement or other instrument under which there is outstanding, or by which there is secured or evidenced, any indebtedness for money borrowed in excess of one hundred million
dollars ($100,000,000) (or its foreign currency equivalent) in the aggregate of the Company or any such Significant Subsidiaries, whether such indebtedness exists as of the Issue Date or is thereafter created (i) resulting in such indebtedness
becoming or being declared due and payable before its stated maturity or (ii) constituting a failure to pay the principal of any such indebtedness when due and payable at its stated maturity, upon required repurchase, upon declaration of
acceleration or otherwise, and such default has not been rescinded or annulled or such failure to pay has not been cured or waived, as the case may be within thirty (30) days after written notice to the Company by the Trustee or to the Company
and the Trustee by Holders of at least twenty-five percent (25%) of the aggregate principal amount of Notes then outstanding; 

(viii)      one or more final judgments being rendered against the Company or
any of its Significant Subsidiaries for the payment of at least one hundred million dollars ($100,000,000) (or its foreign currency equivalent) in the aggregate (excluding any amounts covered by insurance or indemnity), where such judgment is not
discharged or stayed within sixty (60) days after (i) the date on which the right to appeal the same has expired, if no such appeal has commenced; or (ii) the date on which all rights to appeal have been extinguished; 

(ix)      the Company or any of its Significant Subsidiaries, pursuant to or
within the meaning of any Bankruptcy Law, either: 
 (1)      commences a
voluntary case or proceeding seeking liquidation, reorganization or other relief with respect to the Company or any such Significant Subsidiary or its debts; 

(2)      consents to the entry of an order for relief against it in an
involuntary case or proceeding; 
 (3)      consents to the appointment of a
custodian of it or for any substantial part of its property; 

(4)      makes a general assignment for the benefit of its creditors; or 

(5)      takes any comparable action under any foreign Bankruptcy Law; or 

(x)      a court of competent jurisdiction enters an order or decree under any
Bankruptcy Law that either: 
 (1)      is for relief against the Company or
any of its Significant Subsidiaries in an involuntary case or proceeding; 

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

  
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 (3)      orders the winding
up or liquidation of the Company or any of its Significant Subsidiaries; or 

(4)      grants any similar relief under any foreign Bankruptcy Law, 

and, in each case under this Section 7.01(A)(x), such order or decree remains unstayed and in effect
for at least sixty (60) days. 
 Section 7.02.  ACCELERATION. 

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

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

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

Section 7.03.  SOLE REMEDY FOR A FAILURE TO
REPORT. 
 (A)        Generally. Notwithstanding anything
to the contrary in this Indenture or the Notes, the Company may elect that the sole remedy for any Event of Default (a “Reporting Event of Default”) pursuant to Section 7.01(A)(vi) arising from the
Company’s failure to comply with Section 3.02 will, for each of the first three hundred and sixty-five (365) calendar days on which a Reporting Event of Default has occurred and is continuing, consist exclusively
of the accrual of Special Interest on the Notes. If the Company has made such an election, then (i) the Notes will be subject to acceleration pursuant to Section 7.02 on account of the relevant Reporting Event of
Default from, and including, the three hundred and sixty-sixth (366th) calendar day on which a Reporting Event of Default has occurred and is continuing or if the Company fails to pay any accrued and unpaid Special Interest when due; and
(ii) Special Interest will cease to accrue on any Notes from, and including, such three hundred and sixty-sixth (366th) calendar day (it being understood that interest on any defaulted Special Interest will nonetheless accrue pursuant to

  
 - 64 - 

 
Section 2.05(B)). 

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

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

(D)        Notice to Trustee and Paying Agent; Trustee’s Disclaimer. If
Special Interest accrues on any Note, then, no later than five (5) Business Days before each date on which such Special Interest is to be paid, the Company will deliver an Officer’s Certificate to the Trustee and the Paying Agent stating
(i) that the Company is obligated to pay Special Interest on such Note on such date of payment; and (ii) the amount of such Special Interest that is payable on such date of payment. The Trustee will have no duty to determine whether any
Special Interest is payable or the amount thereof. 
 (E)        No Effect on
Other Events of Default. No election pursuant to this Section 7.03 with respect to a Reporting Event of Default will affect the rights of any Holder with respect to any other Event of Default, including with respect to
any other Reporting Event of Default. 
 Section 7.04.  REMEDIES CUMULATIVE. 

The Trustee may maintain a proceeding even if it does not possess any of the Notes. A delay or omission by the Trustee or any
Holder in exercising any right or remedy following an Event of Default will not impair the right or remedy or constitute a waiver of, or acquiescence in, such Event of Default. All powers and remedies given by this Article 7 to the Trustee or
to the Holders will, to the extent permitted by law, be deemed cumulative and not exclusive of any thereof or of any other powers or 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. 

  
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 Section 7.05.  WAIVER OF PAST
DEFAULTS. 
 An Event of Default pursuant to clause (i), (ii), (iv) or
(vi) of Section 7.01(A) (that, in the case of clause (vi) only, results from a Default under any covenant that cannot be amended without the consent of each affected Holder), and a Default that would
(after notice, passage of time or both) lead to such an Event of Default, can be waived only with the consent of each affected Holder. Each other Default or Event of Default may be waived, on behalf of all Holders, by the Holders of a majority in
aggregate principal amount of the Notes then outstanding. If an Event of Default is so waived, then it will cease to exist. If a Default is so waived, then it will be deemed to be cured and any Event of Default arising therefrom will be deemed not
to occur. However, no such waiver will extend to any subsequent or other Default or Event of Default or impair any right arising therefrom. 

Section 7.06.  CONTROL BY MAJORITY. 

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

Section 7.07.  LIMITATION ON SUITS. 

No Holder may pursue any remedy with respect to this Indenture or the Notes (except to enforce (x) its rights to receive
the principal of, or the Redemption Price or Fundamental Change Repurchase Price for, or interest on, any Notes; or (y) the Company’s obligations to convert any Notes pursuant to Article 5 on or after the respective due dates
therefor provided in this Indenture and the Notes), unless: 
 (A)        such
Holder has previously delivered to the Trustee notice that an Event of Default is continuing; 

(B)        Holders of at least twenty-five percent (25%) in aggregate principal amount
of the Notes then outstanding deliver a written request to the Trustee to pursue such remedy; 

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

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

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

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

Section 7.08.  ABSOLUTE RIGHT OF HOLDERS TO
INSTITUTE SUIT FOR THE ENFORCEMENT OF THE RIGHT TO RECEIVE PAYMENT
AND CONVERSION CONSIDERATION. 
 Notwithstanding anything to the contrary
in this Indenture or the Notes, the right of each Holder of a Note to bring suit for the enforcement of any payment or delivery, as applicable, of the principal of, or the Redemption Price or Fundamental Change Repurchase Price for, or any interest
on, or the Conversion Consideration due pursuant to Article 5 upon conversion of, such Note on or after the respective due dates therefor provided in this Indenture and the Notes, will not be impaired or affected without the consent of such
Holder. 
 Section 7.09.  COLLECTION SUIT BY TRUSTEE. 

The Trustee will have the right, upon the occurrence and continuance of an Event of Default pursuant to clause
(i), (ii) or (iv) of Section 7.01(A), to recover judgment in its own name and as trustee of an express trust against the Company for the total unpaid or undelivered principal of, or Redemption
Price or Fundamental Change Repurchase Price for, or interest on, or Conversion Consideration due pursuant to Article 5 upon conversion of, the Notes, as applicable, and, to the extent lawful, any Default Interest on any Defaulted Amounts,
and such further amounts sufficient to cover the costs and expenses of collection, including compensation provided for in Section 10.06. 

Section 7.10.  TRUSTEE MAY FILE PROOFS OF CLAIM.

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

  
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 Section 7.11.  PRIORITIES. 

The Trustee will pay or deliver in the following order any money or other property that it collects pursuant to this
Article 7: 

First:                
to the Trustee, any Note Agent and their respective agents and attorneys for amounts due under Section 10.06, including payment of all fees, compensation, expenses and liabilities incurred, and all advances made, by the
Trustee and the costs and expenses of collection; 

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

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

Section 7.12.  UNDERTAKING FOR COSTS. 

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

Section 8.01.  WITHOUT THE CONSENT OF HOLDERS. 

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

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

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

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

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

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

(H)      evidence or provide for the acceptance of the appointment of a successor Trustee; 

(I)        conform the provisions of this Indenture and the Notes to the
“Description of Notes” section of the Company’s preliminary offering memorandum, dated April 14, 2020, as supplemented by the related pricing term sheet, dated April 14, 2020; 

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

(M)       make any other change to this Indenture or the Notes that does not adversely
affect the rights of the Holders, as such, in any material respect, as determined by the Company in good faith. 

Section 8.02.  WITH THE CONSENT OF HOLDERS. 

(A)        Generally. Subject to Sections 8.01, 7.05 and
7.08 and the immediately following sentence, the Company and the Trustee may, with the consent of the Holders of a majority in aggregate principal amount of the Notes then outstanding, amend or supplement this Indenture or the Notes or waive
compliance with any provision of this Indenture or the Notes. Notwithstanding anything to the contrary in the foregoing sentence, but subject to Section 8.01, without the consent of each affected Holder, no amendment or
supplement to this Indenture or the Notes, or waiver of any provision of this Indenture or the Notes, may: 

(i)      reduce the principal, or extend the stated maturity, of any Note; 

(ii)     reduce the Redemption Price or Fundamental Change Repurchase Price for

  
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any Note or change in any manner adverse to any Holder the times at which, or the circumstances under which, the Notes may or will be redeemed or repurchased by the Company; 

(iii)      reduce the rate, or extend the stated time for the payment, of
interest on any Note; 
 (iv)      make any change that adversely affects the
conversion rights of any Note, except as otherwise permitted by this Indenture; 

(v)       impair the rights of any Holder set forth in
Section 7.08 (as such section is in effect on the Issue Date); 

(vi)      change the ranking of the Notes; 

(vii)      make any Note payable in money, other than that stated in this
Indenture or the Note or make any Note payable at a place of payment outside of the continental United States; 

(viii)      reduce the percentage in aggregate principal amount of Notes whose
Holders must consent to any amendment, supplement, waiver or other modification; or 

(ix)        make any direct or indirect change to any amendment,
supplement, waiver or modification provision of this Indenture or the Notes that requires the consent of each affected Holder. 

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

Section 8.03.  NOTICE OF AMENDMENTS, SUPPLEMENTS AND
WAIVERS. 
 As soon as reasonably practicable after any amendment, supplement or waiver pursuant to
Section 8.01 or 8.02 becomes effective, the Company will send to the Holders and the Trustee notice that (A) describes the substance of such amendment, supplement or waiver in reasonable detail and (B) states the
effective date thereof; provided, however, that the Company will not be required to provide such notice to the Holders if such amendment, supplement or waiver is included in a periodic report filed by the Company with the SEC within
four (4) Business Days of its effectiveness. The failure to send, or the existence of any defect in, such notice will not impair or affect the validity of such amendment, supplement or waiver. 

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

(A)        Revocation and Effect of Consents. The consent of a Holder of a Note
to an amendment, supplement or waiver will bind (and constitute the consent of) each subsequent Holder of any Note to the extent the same evidences any portion of the same indebtedness as the consenting Holder’s Note, subject to the right of
any Holder of a Note to revoke (if not prohibited 

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

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

Section 8.05.  NOTATIONS AND EXCHANGES. 

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

Section 8.06.  TRUSTEE TO EXECUTE SUPPLEMENTAL INDENTURES.

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

  
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 Article 9.    SATISFACTION AND DISCHARGE 

Section 9.01.  TERMINATION OF COMPANY’S OBLIGATIONS.

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

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

(C)        the Company has paid all other amounts payable by it under this Indenture;
and 
 (D)        the Company has delivered to the Trustee an Officer’s
Certificate and an Opinion of Counsel, each stating that the conditions precedent to the discharge of this Indenture have been satisfied; 

provided, however, that Article 10 and Section 11.01 will survive such discharge and, until no
Notes remain outstanding, Section 2.15 and the obligations of the Trustee, the Paying Agent and the Conversion Agent with respect to money or other property deposited with them will survive such discharge. 

At the Company’s request, the Trustee will acknowledge the satisfaction and discharge of this Indenture. 

Section 9.02.  REPAYMENT TO COMPANY. 

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

  
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 Section 9.03.  REINSTATEMENT. 

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

Article 10.    TRUSTEE 

Section 10.01.  DUTIES OF THE TRUSTEE. 

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

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

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

(ii)      in the absence of bad faith or willful misconduct on its part, the
Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon Officer’s Certificates or Opinions of Counsel that are provided to the Trustee and conform to the requirements of this
Indenture. The Trustee will examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture, but need not verify the contents thereof. 

(C)        The Trustee may not be relieved from liability for its own negligent
action, its own negligent failure to act or its own willful misconduct, except that: 

(i)      this paragraph will not limit the effect of
Section 10.01(B); 
 (ii)     the Trustee will not be
liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 

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

(D)        Each provision of this Indenture that in any way relates to the Trustee is
subject to 

  
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paragraphs (A), (B) and (C) of this Section 10.01, regardless of whether such provision so expressly provides. 

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

Section 10.02.  RIGHTS OF THE TRUSTEE. 

(A)        The Trustee may conclusively rely on any document that it believes to be
genuine and signed or presented by the proper Person, and the Trustee need not investigate any fact or matter stated in such document. 

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

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

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

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

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

 (G)        The Trustee will not be responsible or liable for any punitive,
special, indirect or consequential loss or damage (including lost profits), even if the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

(H)        None of the permissive rights of the Trustee enumerated in this Indenture
will be construed as a duty. 
 Section 10.03.  INDIVIDUAL RIGHTS OF THE
TRUSTEE. 
 The Trustee, in its individual or any other capacity, may become the owner or pledgee of any
Note and may otherwise deal with the Company or any of its Affiliates with the same rights 

  
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that it would have if it were not Trustee; provided, however, that if the Trustee acquires a “conflicting interest” (within the meaning of Section 310(b) of the Trust
Indenture Act), then it must eliminate such conflict within ninety (90) days or resign as Trustee. Each Note Agent will have the same rights and duties as the trustee under this Section 10.03. 

Section 10.04.  TRUSTEE’S DISCLAIMER. 

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

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

Section 10.06.  COMPENSATION AND INDEMNITY. 

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

(B)        The Company will indemnify the Trustee against any and all losses,
liabilities or expenses incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture, including the costs and expenses of enforcing this Indenture against the Company (including this
Section 10.06) and defending itself against any claim (whether asserted by the Company, any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties under this
Indenture, except to the extent any such loss, liability or expense may be attributable to its gross negligence or willful misconduct. The Trustee will promptly notify the Company of any claim for which it may seek indemnity, but the Trustee’s
failure to so notify the Company will not relieve the Company of its obligations under this Section 10.06(B). The Company will have the right to assume the defense of such claim,

  
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and the Trustee will cooperate in such defense. If the Company defends such claim and the Trustee is advised by counsel that it may have defenses available to it that are in conflict with the
defenses available to the Company, or that there is an actual or potential conflict of interest, then the Trustee may retain separate counsel, and the Company will pay the reasonable and documented fees and expenses of such counsel (including the
reasonable and documented fees and expenses of counsel to the Trustee incurred in evaluating whether such a conflict exists). The Company need not pay for any settlement of any such claim made without its consent, which consent will not be
unreasonably withheld. 
 (C)        The obligations of the Company under this
Section 10.06 will survive the resignation or removal of the Trustee and the discharge of this Indenture. 

(D)        To secure the Company’s payment obligations in this
Section 10.06, the Trustee will have a lien prior to the Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal of, or interest on, particular Notes, which lien will
survive the discharge of this Indenture. 
 (E)        If the Trustee incurs
expenses or renders services after an Event of Default pursuant to clause (ix) or (x) of Section 7.01(A) occurs, then such expenses and the compensation for such services (including the fees and
expenses of its agents and counsel) are intended to constitute expenses of administration under any Bankruptcy Law. 

Section 10.07.  REPLACEMENT OF THE TRUSTEE. 

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

(iii)     a custodian or public officer takes charge of the Trustee or its property;
or 
 (iv)      the Trustee becomes incapable of acting. 

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

  
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 (D)        If a successor Trustee
does not take office within thirty (30) days after the retiring Trustee resigns or is removed, then the retiring Trustee, the Company or the Holders of at least ten percent (10%) in aggregate principal amount of the Notes then outstanding may
petition any court of competent jurisdiction for the appointment of a successor Trustee at the expense of the Company. 

(E)        If the Trustee, after written request by a Holder who has been a bona
fide Holder of Notes for at least six (6) months (and who provides evidence satisfactory to the Trustee of such holding), fails to comply with Section 10.09, then such Holder may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

(F)        A successor Trustee will deliver a written acceptance of its appointment to
the retiring Trustee and to the Company, upon which notice the resignation or removal of the retiring Trustee will become effective and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The
successor Trustee will send notice of its succession to Holders. The retiring Trustee will, upon payment of all amounts due to it under this Indenture, promptly transfer all property held by it as Trustee to the successor Trustee, which property
will, for the avoidance of doubt, be subject to the lien provided for in Section 10.06(D). 

Section 10.08.  SUCCESSOR TRUSTEE BY MERGER, ETC. 

If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business
to, another corporation, then such corporation will become the successor Trustee and have and succeed to the rights, powers, duties, immunities and privileges of its predecessor, without the execution or filing of any instrument or paper or the
performance of any further act. 
 Section 10.09.  ELIGIBILITY; DISQUALIFICATION. 

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

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

DICK’S Sporting Goods, Inc. 

  
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 345 Court Street 

Coraopolis, PA 15108 

Attn: John E. Hayes – Senior Vice President, General Counsel & Corporate Secretary 

Email: legal.department@dcsg.com 

If to the Trustee: 

U.S. Bank National Association 

225 W Station Square Drive, Suite 380 

Pittsburgh, Pennsylvania 15219 

Attn: Global Corporate Trust, Administrator – DICK’s Sporting Goods, Inc. 

The Company or the Trustee, by notice to the other, may designate additional or different addresses (including facsimile
numbers and electronic addresses) for subsequent notices or communications. 
 All notices and communications (other than
those sent to Holders) will be deemed to have been duly given: (A) at the time delivered by hand, if personally delivered; (B) five (5) Business Days after being deposited in the mail, postage prepaid, if mailed; (C) when receipt
acknowledged, if transmitted by facsimile, electronic transmission or other similar means of unsecured electronic communication; and (D) the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing
next day delivery. 
 All notices or communications required to be made to a Holder pursuant to this Indenture must be made
in writing and will be deemed to be duly sent or given in writing if mailed by first class mail, certified or registered, return receipt requested, or by overnight air courier guaranteeing next day delivery, to its address shown on the Register;
provided, however, that a notice or communication to a Holder of a Global Note may, but need not, instead be sent pursuant to the Depositary Procedures (in which case, such notice will be deemed to be duly sent or given in writing).
The failure to send a notice or communication to a Holder, or any defect in such notice or communication, will not affect its sufficiency with respect to any other Holder. Signatures of the parties hereto transmitted by facsimile, PDF or other
electronic transmission (including any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) will constitute effective execution and delivery of this Indenture as to the other parties hereto will be
deemed to be their original signatures for all purposes. 
 If the Trustee is then acting as the Depositary’s custodian
for the Notes, then, at the reasonable request of the Company to the Trustee, the Trustee will cause any notice prepared by the Company to be sent to any Holder(s) pursuant to the Depositary Procedures, provided such request is evidenced in a
Company Order delivered, together with the text of such notice, to the Trustee at least two (2) Business Days (or such shorter time as the Trustee may agree, acting reasonably) before the date such notice is to be so sent. For the avoidance of
doubt, such Company Order need not be accompanied by an Officer’s Certificate or Opinion of Counsel. The Trustee will not have any liability relating to the contents of any notice that it sends to any Holder pursuant to any such Company Order.

 If a notice or communication is mailed or sent in the manner provided above within the

  
 - 78 - 

 
time prescribed, it will be deemed to have been duly given, whether or not the addressee receives it. 

Notwithstanding anything to the contrary in this Indenture or the Notes, (A) whenever any provision of this Indenture
requires a party to send notice to another party, no such notice need be sent if the sending party and the recipient are the same Person acting in different capacities; and (B) whenever any provision of this Indenture requires a party to send
notice to more than one receiving party, and each receiving party is the same Person acting in different capacities, then only one such notice need be sent to such Person. 

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

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

(A)        an Officer’s Certificate that complies with
Section 11.03 and states that, in the opinion of the signatory thereto, all conditions precedent and covenants, if any, provided for in this Indenture relating to such action have been satisfied; and 

(B)        an Opinion of Counsel that complies with
Section 11.03 and states that, in the opinion of such counsel, all such conditions precedent and covenants, if any, have been satisfied. 

Section 11.03.  STATEMENTS REQUIRED IN OFFICER’S
CERTIFICATE AND OPINION OF COUNSEL. 
 Each
Officer’s Certificate (other than an Officer’s Certificate pursuant to Section 3.05) or Opinion of Counsel with respect to compliance with a covenant or condition provided for in this Indenture will include: 

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

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

(C)        a statement that, in the opinion of such signatory, he, she or it has made
such examination or investigation as is necessary to enable him, her or it to express an informed opinion as to whether or not such covenant or condition has been satisfied; and 

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

The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make
reasonable rules and set reasonable requirements for its functions. 

  
 - 79 - 

 Section 11.05.  NO PERSONAL LIABILITY
OF DIRECTORS, OFFICERS, EMPLOYEES AND STOCKHOLDERS. 

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

Section 11.07.  SUBMISSION TO JURISDICTION. 

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

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

Section 11.09.  SUCCESSORS. 

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

  
 - 80 - 

 Section 11.10.  FORCE MAJEURE. 

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

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

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

Section 11.12.  CALCULATIONS. 

Except as otherwise provided in this Indenture, the Company will be responsible for making all calculations called for under
this Indenture or the Notes, including determinations of the Last Reported Sale Price, the Daily Conversion Value, the Daily Cash Amount, the Daily Share Amount, accrued interest on the Notes and the Conversion Rate. Neither the Trustee, the Paying
Agent, the Registrar nor the Conversion Agent will have any liability or responsibility for any calculation under this Indenture or in connection with the Notes, for any information used in connection with such calculation or any determination made
in connection with a conversion of Notes. 
 The Company will make all calculations in good faith, and, absent manifest
error, its calculations will be final and binding on all Holders. The Company will provide a schedule of its calculations to the Trustee and the Conversion Agent, and the Trustee will promptly forward a copy of each such schedule to any Holder upon
written request. 
 Section 11.13.  SEVERABILITY. 

If any provision of this Indenture or the Notes is invalid, illegal or unenforceable, then the validity, legality and
enforceability of the remaining provisions of this Indenture or the Notes will not in any way be affected or impaired thereby. 

Section 11.14.  COUNTERPARTS. 

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

  
 - 81 - 

 Section 11.15.  TABLE OF CONTENTS,
HEADINGS, ETC. 
 The table of contents and the headings of the Articles and Sections of
this Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture and will in no way modify or restrict any of the terms or provisions of this Indenture. 

Section 11.16.  WITHHOLDING TAXES. 

Each Holder of a Note agrees, and each beneficial owner of an interest in a Global Note, by its acquisition of such interest,
is deemed to agree, that if the Company or other applicable withholding agent is required by law to withhold or deduct taxes or backup withholding on behalf of such Holder or beneficial owner as a result of an adjustment or the non-occurrence of an adjustment to the Conversion Rate or from any interest or payments upon conversion, repurchase, redemption or maturity of the notes, then the Company or such withholding agent, as applicable,
may, at its option, withhold from or set off such payments against payments of cash or the delivery of other Conversion Consideration on such Note, any payments on the Common Stock or sales proceeds received by, or other funds or assets of, such
Holder or the beneficial owner of such Note. Any amounts so deducted or withheld by the Company or other applicable withholding agent will be treated as having been paid to the Holder or beneficial owner for all purposes of this Indenture and will
be paid over to a governmental authority in accordance with applicable law. 
 [The Remainder of This Page Intentionally
Left Blank; Signature Page Follows] 

  
 - 82 - 

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

			
	 DICK’S SPORTING GOODS, INC.

		
	 By: 
	 	 /s/ Lee J. Belitsky

		 	 Name: Lee J. Belitsky

		 	 Title: Executive Vice President –

		 	           Chief Financial Officer

	
	 U.S. BANK NATIONAL ASSOCIATION

		
	 By:
	 	 /s/ Robert P. Pavlovic

		 	 Name: Robert P. Pavlovic

		 	 Title: Vice President

  
 [Signature Page to
Indenture] 

 EXHIBIT A 

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

[Insert Non-Affiliate Legend] 

DICK’S SPORTING GOODS, INC. 

3.25% Convertible Senior Note due 2025 

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

DICK’S Sporting Goods, Inc., a Delaware corporation, for value received, promises to pay to [Cede & Co.], or its
registered assigns, the principal sum of [        ] dollars ($[        ]) [(as revised by the attached Schedule of Exchanges of Interests in the Global
Note)]† on April 15, 2025 and to pay interest thereon, as provided in the Indenture referred to below, until the principal
and all accrued and unpaid interest are paid or duly provided for. 
 Interest Payment
Dates:            April 15 and October 15 of each year, commencing on [date]. 

Regular Record Dates:              April 1 and October 1. 

Additional provisions of this Note are set forth on the other side of this Note. 

[The Remainder of This Page Intentionally Left Blank; Signature Page Follows] 

 
  
  

 
  

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

	† 	 Insert bracketed language for Global Notes only. 

  
 A-1 

 IN WITNESS WHEREOF, DICK’S Sporting Goods, Inc. has caused this
instrument to be duly executed as of the date set forth below. 
  

									
		 		 		 	 DICK’S SPORTING GOODS, INC.

					
	 Date:
	 	  
	 		 	 By:  
	 	  

		 		 		 		 	Name:
		 		 		 		 	Title:

  
 A-2 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

U.S. Bank National Association, as Trustee, certifies that this is one of the Notes referred to in the within-mentioned Indenture. 

									
					
	 Date:
	 	  
	 		 	 By:  
	 	 
		 		 		 		 	Authorized Signatory
		 		 		 		 	

  
 A-3 

 DICK’S SPORTING GOODS, INC. 

3.25% Convertible Senior Note due 2025 

This Note is one of a duly authorized issue of notes of DICK’S Sporting Goods, Inc., a Delaware corporation (the
“Company”), designated as its 3.25% Convertible Senior Notes due 2025 (the “Notes”), all issued or to be issued pursuant to an indenture, dated as of April 17, 2020 (as the same may be amended from time to
time, the “Indenture”), between the Company and U.S. Bank National Association, as trustee. Capitalized terms used in this Note without definition have the respective meanings ascribed to them in the Indenture. 

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

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

2.        Maturity. This Note will mature on April 15, 2025, unless
earlier repurchased, redeemed or converted. 
 3.        Method of Payment.
Cash amounts due on this Note will be paid in the manner set forth in Section 2.04 of the Indenture. 

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

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

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

  
 A-4 

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

10.        Defaults and Remedies. If an Event of Default occurs, then the
principal amount of, and all accrued and unpaid interest on, all of the Notes then outstanding may (and, in certain circumstances, will automatically) become due and payable in the manner, and subject to the terms, set forth in Article 7 of the
Indenture. 
 11.        Amendments, Supplements and Waivers. The Company and
the Trustee may amend or supplement the Indenture or the Notes or waive compliance with any provision of the Indenture or the Notes in the manner, and subject to the terms, set forth in Article 8 of the Indenture. 

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

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

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

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

  
 A-5 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE* 
 INITIAL PRINCIPAL AMOUNT OF THIS GLOBAL NOTE:
$[        ] 
 The following exchanges, transfers or cancellations of this Global Note have
been made: 
  

							
	
             
           Date                        
	  	
Amount of Increase
(Decrease) in
Principal Amount of
this Global Note
	  	
Principal Amount of
this Global Note
After Such Increase
(Decrease)
	  	
Signature of
Authorized
Signatory of Trustee

	
                        
    
  
	  	
                        
            
  
	  	
                        
            
  
	  	
                        
            
  

	  
	  	  
	  	  
	  	  

	
                        
    
  
	  	
                        
            
  
	  	
                        
            
  
	  	
                        
            
  

	  
	  	  
	  	  
	  	  

	
                        
    
  
	  	
                        
            
  
	  	
                        
            
  
	  	
                        
            
  

	  
	  	  
	  	  
	  	  

	
                        
    
  
	  	
                        
            
  
	  	
                        
            
  
	  	
                        
            
  

	  
	  	  
	  	  
	  	  

	
                        
    
  
	  	
                        
            
  
	  	
                        
            
  
	  	
                        
            
  

	  
	  	  
	  	  
	  	  

	
                        
    
  
	  	
                        
            
  
	  	
                        
            
  
	  	
                        
            
  

	  
	  	  
	  	  
	  	  

	
                        
    
  
	  	
                        
            
  
	  	
                        
            
  
	  	
                        
            
  

	  
	  	  
	  	  
	  	  

	
                        
    
  
	  	
                        
            
  
	  	
                        
            
  
	  	
                        
            
  

	  
	  	  
	  	  
	  	  

	
                        
    
  
	  	
                        
            
  
	  	
                        
            
  
	  	
                        
            
  

	  
	  	  
	  	  
	  	  

	
                        
    
  
	  	
                        
            
  
	  	
                        
            
  
	  	
                        
            
  

	  
	  	  
	  	  
	  	  

	
                        
    
  
	  	
                        
            
  
	  	
                        
            
  
	  	
                        
            
  

	  
	  	  
	  	  
	  	  

	
                        
    
  
	  	
                        
            
  
	  	
                        
            
  
	  	
                        
            
  

	  
	  	  
	  	  
	  	  

	
                        
    
  
	  	
                        
            
  
	  	
                        
            
  
	  	
                        
            
  

	  
	  	  
	  	  
	  	  

	
                        
    
  
	  	
                        
            
  
	  	
                        
            
  
	  	
                        
            
  

	  
	  	  
	  	  
	  	  

	
                        
    
  
	  	
                        
            
  
	  	
                        
            
  
	  	
                        
            
  

	  
	  	  
	  	  
	  	  

	
                        
    
  
	  	
                        
            
  
	  	
                        
            
  
	  	
                        
            
  

	  
	  	  
	  	  
	  	  

  
  

 

	* 	 Insert for Global Notes only. 

  
 A-6 

 CONVERSION NOTICE 

DICK’S SPORTING GOODS, INC. 

3.25% Convertible Senior Notes due 2025 

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

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

							
	
Date:                      
                  
	 		 	  

		 		 		 	(Legal Name of Holder)
		 		 		 	
				
		 		 	 By:
	 	  

		 		 		 	 Name:

		 		 		 	 Title:

							
			
		 		 	 Signature Guaranteed:

			
		 		 	  

		 		 		 	Participant in a Recognized Signature
		 		 		 	Guarantee Medallion Program
				
		 		 	 By:  
	 	 
		 		 		 	Authorized Signatory

  
  
  

 
  

	* 	 Must be an Authorized Denomination. 

  
 A-7 

 FUNDAMENTAL CHANGE REPURCHASE NOTICE 

DICK’S SPORTING GOODS, INC. 

3.25% Convertible Senior Notes due 2025 

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

☐  $                * aggregate principal amount of 
 the Note identified by CUSIP No.
                 and Certificate No.
                . 
 The
undersigned acknowledges that this Note, duly endorsed for transfer, must be delivered to the Paying Agent before the Fundamental Change Repurchase Price will be paid. 
  

							
	
Date:                      
                  
	 		 	  

		 		 		 	(Legal Name of Holder)
		 		 		 	
				
		 		 	 By:
	 	  

		 		 		 	 Name:

		 		 		 	 Title:

							
			
		 		 	 Signature Guaranteed:

			
		 		 	  

		 		 		 	Participant in a Recognized Signature
		 		 		 	Guarantee Medallion Program
				
		 		 	 By:  
	 	 
		 		 		 	Authorized Signatory

  
  
  

 
  

 

	* 	 Must be an Authorized Denomination. 

  
 A-8 

 ASSIGNMENT FORM 

DICK’S SPORTING GOODS, INC. 

3.25% Convertible Senior Notes due 2025 

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

 

					
	 Name:
	  	  
	  	
			
	 Address:
	  	  
	  	
			
	 Social security or

tax identification

number:
	  	  
	  	

 the within Note and all rights thereunder irrevocably appoints: 

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

 

							
	
Date:                      
                  
	 		 	  

		 		 		 	(Legal Name of Holder)
		 		 		 	
				
		 		 	 By:
	 	  

		 		 		 	 Name:

		 		 		 	 Title:

							
			
		 		 	 Signature Guaranteed:

			
		 		 	  

		 		 		 	Participant in a Recognized Signature
		 		 		 	Guarantee Medallion Program
				
		 		 	 By:  
	 	 
		 		 		 	Authorized Signatory

  
 A-9 

 TRANSFEROR ACKNOWLEDGEMENT 

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

 

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

 

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

  

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

 

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

  

			
	 Dated:    
	 	 
	
	  

	(Legal Name of Holder)

  

	
	
	
By:                      
                                        

	       Name:

	       Title:

			
	
	 Signature Guaranteed:

	
	  

	 (Participant in a Recognized Signature

Guarantee Medallion Program)

 

	
	
	
By:                      
                                        

	Authorized Signatory

  
 A-10 

 TRANSFEREE ACKNOWLEDGEMENT 

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

			
	 Dated:
	 	 
	
	  

	(Name of Transferee)

  

	
	
	
By:                      
                                        

	       Name:

	       Title:

  
 A-11 

 EXHIBIT B-1 

FORM OF RESTRICTED NOTE LEGEND 

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

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

  

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

  

	 	(A)	 TO THE COMPANY OR ANY SUBSIDIARY THEREOF; 

 

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

 

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

  

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

 

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

  

	(3)	 REPRESENTS THAT (A) EITHER (I) WITH RESPECT TO ITS ACQUISITION AND HOLDING OF THE NOTES, AND ITS
ACQUISITION AND HOLDING OF THE COMMON STOCK UPON CONVERSION OF THE NOTES, IT IS NOT USING ASSETS OF A PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA’) OR SECTION 4975 OF THE CODE OR ANY ENTITY WHOSE
UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF SUCH PLAN INVESTMENT IN SUCH ENTITY OR A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN WHICH IS SUBJECT TO ANY LAW THAT IS SUBSTANTIALLY SIMILAR TO THE
PROVISIONS OF SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR (II) ITS ACQUISITION AND HOLDING OF THE NOTES AND ACQUISITION AND HOLDING OF THE COMMON STOCK UPON CONVERSION OF THE NOTES WILL NOT CONSTITUTE OR RESULT IN A PROHIBITED
TRANSACTION UNDER SECTION 406 OR 

  
 B1-1 

	 	 
SECTION 4975 OF THE CODE (OR IN THE CASE OF A GOVERNMENTAL, CHURCH OR A NON-U.S. PLAN, ANY SUBSTANTIALLY SIMILAR FEDERAL, STATE OR LOCAL LAW) FOR WHICH AN
EXEMPTION IS NOT AVAILABLE AND (B) IT WILL NOT SELL OR OTHERWISE TRANSFER SUCH NOTES OR ANY INTEREST THEREIN OTHERWISE THAN TO A PURCHASER OR TRANSFEREE THAT IS DEEMED TO MAKE THESE SAME REPRESENTATIONS, WARRANTIES AND AGREEMENTS WITH RESPECT
TO ITS PURCHASE AND HOLDING OF SUCH NOTE OR ANY INTEREST THEREIN. 

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

 
  
  

 
  

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

  
 B1-2 

 EXHIBIT B-2 

FORM OF GLOBAL NOTE LEGEND 

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

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

  
 B2-1 

 EXHIBIT B-3 

FORM OF NON-AFFILIATE LEGEND 

NO AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT OF 1933, AS AMENDED) OF THE COMPANY MAY PURCHASE OR OTHERWISE ACQUIRE THIS NOTE
OR ANY BENEFICIAL INTEREST HEREIN. 

  
 B3-1

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