Document:

EX-4.1

 Exhibit 4.1 
  

 
  

I3 VERTICALS, LLC, 
 as Issuer

 AND 
 I3 VERTICALS, INC. 

as Guarantor 
 AND 

U.S. BANK NATIONAL ASSOCIATION, 

as Trustee 
 INDENTURE 

Dated as of February 18, 2020 

1.00% Exchangeable Senior Notes due 2025 
  

 
  

 TABLE OF CONTENTS 

 
  

 

							
	 	 	 	  	PAGE	 
	ARTICLE 1	  

	DEFINITIONS	  

			
	 Section 1.01.
	 	 Definitions
	  	 	1	 
	 Section 1.02.
	 	 References to Interest
	  	 	14	 
	ARTICLE 2	  

	ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES	  			
			
	 Section 2.01.
	 	 Designation and Amount
	  	 	14	 
	 Section 2.02.
	 	 Form of Notes
	  	 	15	 
	 Section 2.03.
	 	 Date and Denomination of Notes; Payments of Interest and Defaulted Amounts
	  	 	15	 
	 Section 2.04.
	 	 Execution, Authentication and Delivery of Notes
	  	 	17	 
	 Section 2.05.
	 	 Exchange and Registration of Transfer of Notes; Restrictions on Transfer;
Depositary
	  	 	17	 
	 Section 2.06.
	 	 Mutilated, Destroyed, Lost or Stolen Notes
	  	 	23	 
	 Section 2.07.
	 	 Temporary Notes
	  	 	24	 
	 Section 2.08.
	 	 Cancellation of Notes Paid, Exchanged, Etc.
	  	 	24	 
	 Section 2.09.
	 	 CUSIP Numbers
	  	 	25	 
	 Section 2.10.
	 	 Additional Notes; Purchases
	  	 	25	 
	
	ARTICLE 3	  

	SATISFACTION AND DISCHARGE	  

			
	 Section 3.01.
	 	 Satisfaction and Discharge
	  	 	26	 
	
	ARTICLE 4	  

	PARTICULAR COVENANTS OF THE COMPANY AND THE GUARANTOR	
 

			
	 Section 4.01.
	 	 Payment of Principal, Settlement Amounts and Interest
	  	 	27	 
	 Section 4.02.
	 	 Maintenance of Office or Agency
	  	 	27	 
	 Section 4.03.
	 	 Appointments to Fill Vacancies in Trustee’s Office
	  	 	28	 
	 Section 4.04.
	 	 Provisions as to Paying Agent
	  	 	28	 
	 Section 4.05.
	 	 [Reserved.]
	  	 	29	 
	 Section 4.06.
	 	 Rule 144A Information Requirement; Reporting; and Registration Default Additional
Interest
	  	 	29	 
	 Section 4.07.
	 	 No Rights as Stockholders.
	  	 	30	 
	 Section 4.08.
	 	 Stay, Extension and Usury Laws
	  	 	30	 
	 Section 4.09.
	 	 Compliance Certificate; Statements as to Defaults
	  	 	31	 

  
 i 

							
	ARTICLE 5	  

	[RESERVED]	  

	
	ARTICLE 6	  

	DEFAULTS AND REMEDIES	  

			
	 Section 6.01.
	 	 Events of Default
	  	 	31	 
	 Section 6.02.
	 	 Acceleration
	  	 	33	 
	 Section 6.03.
	 	 Additional Interest
	  	 	33	 
	 Section 6.04.
	 	 Payments of Notes on Default; Suit Therefor
	  	 	35	 
	 Section 6.05.
	 	 Application of Monies Collected by Trustee
	  	 	36	 
	 Section 6.06.
	 	 Proceedings by Holders
	  	 	36	 
	 Section 6.07.
	 	 Proceedings by Trustee
	  	 	37	 
	 Section 6.08.
	 	 Remedies Cumulative and Continuing
	  	 	37	 
	 Section 6.09.
	 	 Direction of Proceedings and Waiver of Defaults by Majority of Holders
	  	 	38	 
	 Section 6.10.
	 	 Notice of Defaults
	  	 	39	 
	 Section 6.11.
	 	 Undertaking to Pay Costs
	  	 	39	 
	
	ARTICLE 7	  

	CONCERNING THE TRUSTEE	  

			
	 Section 7.01.
	 	 Duties and Responsibilities of Trustee
	  	 	39	 
	 Section 7.02.
	 	 Certain Rights of the Trustee
	  	 	40	 
	 Section 7.03.
	 	 No Responsibility for Recitals, Etc.
	  	 	42	 
	 Section 7.04.
	 	 Trustee, Paying Agents, Exchange Agents or Note Registrar May Own Notes
	  	 	42	 
	 Section 7.05.
	 	 Monies To Be Held in Trust
	  	 	43	 
	 Section 7.06.
	 	 Compensation and Expenses of Trustee
	  	 	43	 
	 Section 7.07.
	 	 Officer’s Certificate as Evidence
	  	 	44	 
	 Section 7.08.
	 	 Eligibility of Trustee
	  	 	44	 
	 Section 7.09.
	 	 Resignation or Removal of Trustee
	  	 	44	 
	 Section 7.10.
	 	 Acceptance by Successor Trustee
	  	 	45	 
	 Section 7.11.
	 	 Succession by Merger, Etc.
	  	 	46	 
	 Section 7.12.
	 	 Trustee’s Application for Instructions from the Company
	  	 	46	 
	 Section 7.13.
	 	 Conflicting Interests of Trustee
	  	 	47	 
	 Section 7.14.
	 	 Limitation on Trustee’s Liability
	  	 	47	 
	
	ARTICLE 8	  

	CONCERNING THE HOLDERS	  

			
	 Section 8.01.
	 	 Action by Holders
	  	 	47	 
	 Section 8.02.
	 	 Proof of Execution by Holders
	  	 	47	 
	 Section 8.03.
	 	 Who Are Deemed Absolute Owners
	  	 	47	 
	 Section 8.04.
	 	 Company-Owned Notes Disregarded
	  	 	48	 
	 Section 8.05.
	 	 Revocation of Consents; Future Holders Bound
	  	 	48	 

  
 ii 

							
	ARTICLE 9	 
	[RESERVED]	 
	
	ARTICLE 10	  

	SUPPLEMENTAL INDENTURES	 
			
	 Section 10.01.
	 	 Supplemental Indentures Without Consent of Holders
	  	 	49	 
	 Section 10.02.
	 	 Supplemental Indentures with Consent of Holders
	  	 	50	 
	 Section 10.03.
	 	 Effect of Amendment, Supplement and Waiver
	  	 	51	 
	 Section 10.04.
	 	 Notation on Notes
	  	 	51	 
	 Section 10.05.
	 	 Evidence of Compliance of Amendment, Supplement or Waiver To Be Furnished To
Trustee
	  	 	51	 
	
	ARTICLE 11	 
	CONSOLIDATION, MERGER AND SALE	 
			
	 Section 11.01.
	 	 The Guarantor May Consolidate, Etc. on Certain Terms
	  	 	52	 
	 Section 11.02.
	 	 Company May Consolidate, Etc. on Certain Terms
	  	 	53	 
	 Section 11.03
	 	 Opinion of Counsel and Officer’s Certificate To Be Given to Trustee
	  	 	53	 
	
	ARTICLE 12	 
	IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS	  	 	 
			
	 Section 12.01.
	 	 Indenture, Notes and Guarantee Solely Corporate Obligations
	  	 	54	 
	
	ARTICLE 13	 
	GUARANTEE	 
			
	 Section 13.01.
	 	 Guarantee
	  	 	54	 
	 Section 13.02.
	 	 Execution and Delivery
	  	 	56	 
	 Section 13.03.
	 	 Release of the Guarantee
	  	 	56	 
	 Section 13.04.
	 	 Limitation on Guarantor Liability
	  	 	56	 
	 Section 13.05.
	 	 Subrogation
	  	 	57	 
	 Section 13.06.
	 	 Benefits Acknowledged
	  	 	57	 
	 Section 13.07.
	 	 [Reserved]
	  	 	57	 
	 Section 13.08.
	 	 “Trustee” to Include Paying Agent
	  	 	57	 
	
	ARTICLE 14	 
	EXCHANGE OF NOTES	 
			
	 Section 14.01.
	 	 Exchange Privilege
	  	 	57	 
	 Section 14.02.
	 	 Exchange Procedure; Settlement Upon Exchange
	  	 	61	 
	 Section 14.03.
	 	 Increase in Exchange Rate Upon Exchange in Connection with a Make-Whole Fundamental
Change
	  	 	67	 
	 Section 14.04.
	 	 Adjustment of Exchange Rate
	  	 	69	 

  
 iii 

							
	 Section 14.05.
	 	 Adjustments of Prices
	  	 	79	 
	 Section 14.06.
	 	 Shares To Be Fully Reserved
	  	 	79	 
	 Section 14.07.
	 	 Effect of Recapitalizations, Reclassifications and Changes of the Common Stock
	  	 	79	 
	 Section 14.08.
	 	 Certain Covenants
	  	 	81	 
	 Section 14.09.
	 	 Responsibility of Trustee
	  	 	82	 
	 Section 14.10.
	 	 Notice to Holders Prior to Certain Actions
	  	 	82	 
	 Section 14.11.
	 	 Stockholder Rights Plans
	  	 	83	 
	
	ARTICLE 15	  

	REPURCHASE OF NOTES AT OPTION OF HOLDERS	
 

			
	 Section 15.01.
	 	 Intentionally Omitted
	  	 	83	 
	 Section 15.02.
	 	 Repurchase at Option of Holders Upon a Fundamental Change
	  	 	83	 
	 Section 15.03.
	 	 Withdrawal of Fundamental Change Repurchase Notice
	  	 	87	 
	 Section 15.04.
	 	 Deposit of Fundamental Change Repurchase Price
	  	 	87	 
	 Section 15.05.
	 	 Covenant to Comply with Applicable Laws Upon Repurchase of Notes 
	  	 	88	 
	
	ARTICLE 16	  

	OPTIONAL REDEMPTION	  

			
	 Section 16.01.
	 	 Right of the Company to Redeem the Notes On or After February 20, 2023 
	  	 	88	 
	 Section 16.02.
	 	 Notice of Optional Redemption 
	  	 	89	 
	 Section 16.03.
	 	 Payment of Notes Called for Optional Redemption
	  	 	90	 
	 Section 16.04.
	 	 Selection, Exchange and Transfer of Notes to be Redeemed in Part
	  	 	91	 
	 Section 16.05.
	 	 Restrictions on Optional Redemption
	  	 	91	 
	 Section 16.06.
	 	 Increased Exchange Rate Applicable to Certain Notes Called for Optional Redemption
Surrendered for Exchange in Connection with an Optional Redemption
	  	 	91	 
	
	ARTICLE 17	  

	MISCELLANEOUS PROVISIONS	  

			
	 Section 17.01.
	 	 Provisions Binding on Company’s and the Guarantor’s Successors
	  	 	92	 
	 Section 17.02.
	 	 Official Acts by Successor Entity
	  	 	92	 
	 Section 17.03.
	 	 Addresses for Notices, Etc.
	  	 	92	 
	 Section 17.04.
	 	 Governing Law
	  	 	93	 
	 Section 17.05.
	 	 Intentionally Omitted
	  	 	93	 
	 Section 17.06.
	 	 Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to
Trustee
	  	 	93	 
	 Section 17.07.
	 	 Legal Holidays
	  	 	94	 
	 Section 17.08.
	 	 No Security Interest Created
	  	 	94	 
	 Section 17.09.
	 	 Benefits of Indenture
	  	 	94	 
	 Section 17.10.
	 	 Table of Contents, Headings, Etc.
	  	 	94	 
	 Section 17.11.
	 	 Authenticating Agent
	  	 	94	 

  
 iv 

							
	 Section 17.12.
	 	 Execution in Counterparts
	  	 	95	 
	 Section 17.13.
	 	 Severability
	  	 	95	 
	 Section 17.14.
	 	 Waiver of Jury Trial; Submission of Jurisdiction
	  	 	96	 
	 Section 17.15.
	 	 Force Majeure
	  	 	96	 
	 Section 17.16.
	 	 Calculations
	  	 	96	 
	 Section 17.17.
	 	 U.S.A. Patriot Act
	  	 	97	 
	 Section 17.18.
	 	 Tax Withholding
	  	 	97	 
	
	EXHIBITS	  

	 Exhibit A
	 	 Form of Note
	  	 	A-1	 
	 Exhibit B
	 	 Form of Supplemental Indenture
	  	 	B-1	 

  
 v 

 INDENTURE dated as of February 18, 2020 among i3 Verticals, LLC, a Delaware limited
liability company, as issuer (the “Company”, as more fully set forth in Section 1.01), i3 Verticals, Inc., a Delaware corporation, as guarantor (the “Guarantor”, as more fully set forth in Section 1.01),
and U.S. Bank National Association, as trustee (the “Trustee”, as more fully set forth in Section 1.01). 
 W I T N E S
S E T H: 
 WHEREAS, for its lawful corporate purposes, the Company has duly authorized the issuance of its 1.00% Exchangeable Senior Notes
due 2025 (the “Notes”), initially in an aggregate principal amount of $138,000,000, and the Guarantor has duly authorized the issuance of the Guarantee, and in order to provide the terms and conditions upon which the Notes are to be
authenticated, issued and delivered, the Company and the Guarantor have duly authorized the execution and delivery of this Indenture; and 

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

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

NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

That in order to declare the terms and conditions upon which the Notes are, and are to be, authenticated, issued and delivered, and in
consideration of the premises and of the purchase and acceptance of the Notes by the Holders thereof, each of the Company and the Guarantor covenants and agrees with the Trustee for the equal and proportionate benefit of the respective Holders from
time to time of the Notes (except as otherwise provided below), as follows: 
 ARTICLE 1 

DEFINITIONS 

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

 “Additional Interest” means all amounts, if any, payable
pursuant to Section 4.06(d) and Section 6.03, as applicable. 
 “Additional Shares” shall have the
meaning specified in Section 14.03(a) . 
 “Adequate Cash Exchange Provisions” shall have the meaning
specified in Section 15.02(e)(ii). 
 “Affiliate” of any specified Person means any other Person
directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control,” when used with respect to any specified Person means the power to
direct or cause the direction of the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have
meanings correlative to the foregoing. 
 “Applicable Procedures” means, with respect to a Depositary, as to
any matter at any time, the policies and procedures of such Depositary, if any, that are applicable to such matter at such time. 

“Authorized Denomination” means, with respect to a Note, a minimum principal amount thereof equal to $1,000 or
any integral multiple of $1,000 in excess thereof. 
 “Bankruptcy Law” means Title 11, U.S. Code, as
amended, or any similar federal, state or foreign law for the relief of debtors. 
 “Bid Solicitation Agent”
means the Person appointed by the Company to solicit bids for the Trading Price of the Notes in accordance with Section 14.01(b)(i). The Company shall initially act as the Bid Solicitation Agent. 

“Board of Directors” means, with respect to the Company or the Guarantor the board of directors or the
managers, as applicable, of the Company or the Guarantor, as the case may be, or a committee of such board duly authorized to act for it hereunder. 

“Board Resolution” means a copy of a resolution certified by the Secretary or an Officer of the Company or the
Guarantor, as the case may be, to have been duly adopted by the applicable Board of Directors, and to be in full force and effect on the date of such certification, and delivered to the Trustee. 

“Business Day” means any day other than a Saturday, a Sunday or a day on which the Federal Reserve Bank of New
York is authorized or required by law or executive order to close or be closed. 
 “Capital Stock” means,
for any entity, any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated) stock issued by that entity; provided that debt securities that are convertible
into or exchangeable for Capital Stock shall not constitute Capital Stock prior to their conversion or exchange, as the case may be. 

  
 2 

 “Cash Settlement” shall have the meaning provided in
Section 14.02(a). 
 “Certificated Notes” means permanent certificated Notes in registered form issued
in minimum denominations of $1,000 principal amount and integral multiples of $1,000 in excess thereof. 
 “Clause A
Distribution” shall have the meaning specified in Section 14.04(c). 
 “Clause B Distribution”
shall have the meaning specified in Section 14.04(c). 
 “Clause C Distribution” shall have the meaning
specified in Section 14.04(c). 
 “close of business” means 5:00 p.m. (New York City time). 

“Code” means the Internal Revenue Code of 1986, as amended. 

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

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

“Common Equity” of any Person means Capital Stock of such Person that is generally entitled (a) to vote
in the election of directors of such Person or (b) if such Person is not a corporation, to vote or otherwise participate in the selection of the governing body, partners, managers or others that will control the management or policies of such
Person. 
 “Common Stock” means the Class A common stock of the Guarantor, $0.0001 par value per share,
subject to Section 14.07. 
 “Company” shall have the meaning specified in the first paragraph of this
Indenture, and subject to the provisions of Article 11, shall include its successors and assigns. 
 “Company
Order” means a written order of the Company, signed by an Officer of the Company. 
 “Corporate Trust
Office” means the corporate trust office of the Trustee at which at any time its corporate trust business shall be administered, which office at the date hereof is located at 333 Commerce Street, Suite 800, Nashville, Tennessee 37201,
Attention: Corporate Trust Services, or such other address as the Trustee may designate from time to time by notice to the Holders, the Company and the Guarantor, or the principal corporate trust office of any successor trustee (or such other
address as such successor trustee may designate from time to time by notice to the Holders, the Company and the Guarantor). 

  
 3 

 “Custodian” means the Trustee, as custodian for The
Depository Trust Company, with respect to the Global Notes, or any successor entity thereto. 
 “Daily Exchange
Value” means, for each of the 45 consecutive VWAP Trading Days during the relevant Observation Period, 1/45th of the product of (i) the Exchange Rate on such VWAP Trading Day and (ii) the Daily VWAP for such VWAP Trading Day. 

“Daily Measurement Value” shall have the meaning specified in the definition of “Daily Settlement
Amount.” 
 “Daily Settlement Amount,” for each of the 45 consecutive VWAP Trading Days during the
relevant Observation Period, shall consist of: 
 (a)    cash in an amount equal to the lesser of
(i) the Specified Dollar Amount, if any, divided by 45 (such quotient, the “Daily Measurement Value”) and (ii) the Daily Exchange Value for such VWAP Trading Day; and 

(b)    if the Daily Exchange Value on such VWAP Trading Day exceeds the Daily Measurement Value, a number
of shares of Common Stock equal to (i) the difference between the Daily Exchange Value and the Daily Measurement Value, divided by (ii) the Daily VWAP for such VWAP Trading Day. 

“Daily VWAP” means, for each of the 45 consecutive VWAP Trading Days during the relevant Observation Period,
the per share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “IIIV <equity> AQR” (or its equivalent successor if such page is not available) in respect of the period from the
scheduled open of trading until the scheduled close of trading of the primary trading session on such 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 method, by a U.S. nationally recognized independent investment banking firm retained for this purpose by the Company). The “Daily VWAP” shall be determined without regard to after-hours
trading or any other trading outside of the regular trading session trading hours. 
 “Default” means any
event that is, or after notice or passage of time, or both, would be, an Event of Default. 
 “Defaulted
Amounts” means any amounts on any Note (including, without limitation, the Redemption Price, Fundamental Change Repurchase Price, cash exchange consideration due upon exchange, principal and interest) that are payable but are not punctually
paid or duly provided for. 
 “Depositary” means, with respect to each Global Note, the Person specified in
Section 2.05(b) as the Depositary with respect to such Notes, until a successor shall have been appointed and become such pursuant to the applicable provisions of this Indenture, and thereafter, “Depositary” shall mean or
include such successor. 

  
 4 

 “Designated Financial Institution” shall have the meaning
specified in Section 14.02(j). 
 “Distributed Property” shall have the meaning specified in
Section 14.04(c). 
 “effective date” means the first date on which shares of Common Stock trade
on the Relevant Stock Exchange, regular way, reflecting the relevant share split or share combination, as applicable. 

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

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

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

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations
promulgated thereunder. 
 “Exchange Agent” shall have the meaning specified in Section 4.02. 

“Exchange Consideration” shall have the meaning specified in Section 14.02(j). 

“Exchange Date” shall have the meaning specified in Section 14.02(c). 

“Exchange Election” shall have the meaning specified in Section 14.02(j). 

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

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

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

“Expiration Date” shall have the meaning specified in Section 14.04(e). 

“Expiration Time” shall have the meaning specified in Section 14.04(e). 

“Form of Assignment and Transfer” shall mean the “Form of Assignment and Transfer” attached as
Attachment 3 to the Form of Note attached hereto as Exhibit A. 
 “Form of Fundamental Change Repurchase
Notice” shall mean the “Form of Fundamental Change Repurchase Notice” attached as Attachment 2 to the Form of Note attached hereto as Exhibit A. 

  
 5 

 “Form of Notice of Exchange” shall mean the “Form of
Notice of Exchange” attached as Attachment 1 to the Form of Note attached hereto as Exhibit A. 
 “Form of
Note” means the “Form of Note” attached hereto as Exhibit A. 
 “Fundamental Change”
shall be deemed to have occurred at the time after the Notes are originally issued if any of the following occurs: 

(a)    any person, including any syndicate or group deemed to be a “person” or “group”
within the meaning of Section 13(d) of the Exchange Act, other than the Guarantor, its Subsidiaries and their respective employee benefit plans, makes a filing under the Exchange Act disclosing that it has become, directly or indirectly, the
“beneficial owner,” as defined in Rule 13d-3 under the Exchange Act, of the Guarantor’s Common Equity representing more than 50% of the voting power of the Guarantor’s Common Equity; 

(b)    the consummation of (A) any recapitalization, reclassification or change of the Common Stock
(other than changes resulting from a subdivision or combination) as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities, or other property or assets; (B) any share exchange, consolidation or
merger of the Guarantor pursuant to which the Common Stock will be converted into cash, securities, other property or assets (including cash or any combination thereof); or (C) any sale, lease or other transfer in one transaction or a series of
transactions of all or substantially all of the Guarantor’s consolidated assets, taken as a whole, to any Person other than one or more of the Guarantor’s direct or indirect Subsidiaries; provided, however, that a transaction
described in clause (A) or (B) in which the holders of all classes of the Guarantor’s Common Equity immediately prior to such transaction own, directly or indirectly, more than 50% of all classes of the Common Equity of the continuing or
surviving corporation or transferee or the parent thereof immediately after such transaction in substantially the same proportions (vis-a-vis each other) as such
ownership immediately prior to such transaction shall not be a Fundamental Change pursuant to this clause (b); 

(c)    the Company (or any successor thereto following any merger, consolidation or similar transaction)
ceases to be controlled, directly or indirectly, by the Guarantor (or any successor thereto following any merger, consolidation or similar transaction); or 

(d)    the shareholders of the Guarantor approve any plan or proposal for the liquidation or dissolution of
the Guarantor; 
 provided, however, that a transaction or transactions described in clause (a) or (b) above shall not
constitute a Fundamental Change if at least 90% of the consideration received or to be received by the holders of the Common Stock, excluding cash payments for fractional shares and cash payments made pursuant to dissenters’ or appraisal
rights, in connection with such transaction or transactions consists of shares of Common Equity or 

  
 6 

 
ADSs in respect of Common Equity that are listed or quoted on any of The New York Stock Exchange, The Nasdaq Global Select Market or The Nasdaq Global Market (or any of their respective
successors) or will be so listed or quoted when issued or exchanged in connection with such transaction or transactions, and as a result of such transaction or transactions such consideration becomes the Reference Property for the Notes (subject to
the provisions set forth in Section 14.02). 
 Any event, transaction or series of related transactions that constitute a Fundamental
Change under both clause (a) and clause (b) above (determined without regard to the proviso in clause (b) above) shall be deemed to be a Fundamental Change solely under clause (b) above. 

If any transaction in which the Common Stock is replaced by Common Equity of another entity occurs, following completion of any related
Make-Whole Fundamental Change Period (or, in the case of a transaction that would have been a Fundamental Change or a Make-Whole Fundamental Change but for the proviso immediately following clause (d) of this definition, following the effective
date of such transaction), references to the Guarantor in this definition shall instead be references to such other entity. 

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

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

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

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

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

“Guarantee” means the guarantee of the Company’s payment obligations under this Indenture and the Notes,
issued by the Guarantor pursuant to Article 13 of this Indenture. 
 “Guarantor” means the Guarantor until
such time as the Guarantor shall be released and relieved of its obligations pursuant to Section 13.03 of this Indenture, and subject to the provisions of Article 11, shall include its successors and assigns. 

“Holder,” as applied to any Note, or other similar terms (but excluding the term “beneficial
holder”), shall mean any person in whose name at the time a particular Note is registered on the Note Register. The registered Holder of a Note shall be treated as its owner for all purposes. 

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

  
 7 

 “Initial Purchasers” means BofA Securities, Inc., Fifth
Third Securities, Inc., Citizens Capital Markets, Inc. and KeyBanc Capital Markets Inc. 
 “Interest Payment
Date” means February 15 and August 15 of each year, beginning on August 15, 2020. 
 “Issue
Date” means February 18, 2020. 
 “Last Reported Sale Price” per share of Common Stock on any
date means: 
 (a)    the closing sale price per share (or if no closing sale price is reported, the
average of the bid and ask prices or, if more than one in either case, the average of the average bid and the average ask prices) on such date as reported in composite transactions for the Relevant Stock Exchange; 

(b)    if the Common Stock is not listed for trading on a Relevant Stock Exchange on such date, the last
quoted bid price per share for the Common Stock in the over-the-counter market on such date as reported by OTC Markets Group Inc. or a similar organization; and 

(c)    if the Common Stock is not so quoted, the average of the
mid-point of the last bid and ask prices per share for the Common Stock on such date from each of at least three nationally recognized independent investment banking firms selected by the Company for this
purpose. 
 “Make-Whole Fundamental Change” means (x) any transaction or event that constitutes a
Fundamental Change, after giving effect to any exceptions to or exclusions from the definition thereof, but without regard to the proviso in clause (b) of the definition thereof or (y) any Event of Default described in
Section 6.01(l). 
 “Make-Whole Fundamental Change Company Notice” shall have the meaning specified in
Section 14.03(b). 
 “Make-Whole Fundamental Change Period” shall have the meaning specified in
Section 14.03(a). 
 “Market Disruption Event” means: 

(a)     a failure by the Relevant Stock Exchange to open for trading during its regular trading session; or

 (b)     the occurrence or existence prior to 1:00 p.m., New York City time, on any Scheduled Trading
Day for the Common Stock for more than one half-hour period in the aggregate during regular trading hours of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the Relevant Stock Exchange
or otherwise) in the Common Stock or in any options contracts or futures contracts relating to the Common Stock. 

  
 8 

 “Maturity Date” means February 15, 2025. 

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

“Note” or “Notes” shall have the meaning specified in the first paragraph of the recitals of
this Indenture. 
 “Note Register” shall have the meaning specified in Section 2.05. 

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

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

“Notice of Optional Redemption” shall have the meaning specified in Section 16.02(a). 

“Observation Period” with respect to any Note surrendered for exchange means: 

(a)    subject to clause (b) below, if the relevant Exchange Date occurs prior to August 15,
2024, the 45 consecutive VWAP Trading Day period beginning on, and including, the third VWAP Trading Day immediately succeeding such Exchange Date; 

(b)    if the relevant Exchange Date occurs on or after a Notice of Optional Redemption and prior to the
relevant Optional Redemption Date, the 45 consecutive VWAP Trading Day period beginning on, and including, the 46th Scheduled Trading Day immediately preceding such Optional Redemption Date; and 

(c)    subject to clause (b) above, if the relevant Exchange Date occurs on or after August 15,
2024, the 45 consecutive VWAP Trading Day period beginning on, and including, the 46th Scheduled Trading Day immediately preceding the Maturity Date. 

“Offering Memorandum” means the preliminary offering memorandum, dated February 11, 2020, relating to the
offering and sale of the Notes, as supplemented by the related pricing term sheet, dated February 12, 2020. 

“Officer” means, with respect to any Person, the Chairman of the Board of Directors, the Chief Executive
Officer, the Chief Financial Officer, the President, any Executive Vice President, Senior Vice President or Vice President, the Treasurer, the Assistant Treasurer or the Secretary of such Person. 

“Officer’s Certificate” means a certificate signed on behalf of the Company by an Officer of the Company
or the Guarantor, as the case may be, that meets the requirements of Section 17.06. 
 “open of
business” means 9:00 a.m. (New York City time). 

  
 9 

 “Opinion of Counsel” means an opinion from legal counsel
who is reasonably acceptable to the Trustee, that meets the requirements of Section 17.06. The counsel may be an employee of or counsel to the Company or the Guarantor. 

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

“Optional Redemption Date” shall have the meaning specified in Section 16.02(a). 

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

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

(b)    Notes, or portions thereof, that have become due and payable and in respect of which monies in the
necessary amount shall have been deposited in trust with the Trustee or with any Paying Agent (other than the Company) or shall have been set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent); 

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

(d)    Notes surrendered for purchase in accordance with Article 15 for which the Paying Agent holds money
sufficient to pay the Fundamental Change Repurchase Price, in accordance with Section 15.04(b); 

(e)    Notes exchanged pursuant to Article 14 and required to be cancelled pursuant to Section 2.08;
and 
 (f)    Notes redeemed or repurchased by the Company. 

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

“Person” means any individual, corporation, partnership, joint venture, association, joint-stock company,
trust, unincorporated organization, limited liability company or government or other entity. 
 “Physical
Settlement” shall have the meaning provided in Section 14.02(a). 
 “Predecessor Note” of any
particular Note means every previous Note evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purposes of this definition, any Note authenticated and delivered under Section 2.06 in lieu of or in
exchange for a mutilated, lost, destroyed or stolen Note shall be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note that it replaces. 

  
 10 

 “Record Date” means, with respect to any dividend,
distribution or other transaction or event in which the holders of the Common Stock have the right to receive any cash, securities or other property or in which the Common Stock is exchanged for or converted into any combination of cash, securities
or other property, the date fixed for determination of holders of the Common Stock entitled to receive such cash, securities or other property (whether such date is fixed by the Guarantor’s Board of Directors, statute, contract or otherwise).

 “Redemption Notice Date” means, with respect to an Optional Redemption, the date on which the Company
sends the Notice of Optional Redemption to the applicable Holders for such Optional Redemption pursuant to Section 16.02(a). 

“Redemption Price” means, for any Notes to be redeemed pursuant to Section 16.01(a), 100% of the
principal amount of such Notes, plus accrued and unpaid interest, if any, to, but not including, the Optional Redemption Date (unless the Optional Redemption Date falls after a Regular Record Date but on or prior to the immediately succeeding
Interest Payment Date, in which case the interest accrued to, but not including, such Interest Payment Date will be paid to the Holder as of the close of business on such Regular Record Date (assuming, solely for these purposes, that such Note
remained outstanding through such Interest Payment Date, if such Optional Redemption Date is before such Interest Payment Date) and the Redemption Price will be equal to 100% of the principal amount of Notes to be redeemed). For the avoidance of
doubt, if an Interest Payment Date is not a Business Day and such Optional Redemption Date occurs on the Business Day immediately after such Interest Payment Date, then (x) accrued and unpaid interest on Notes to, but not including, such
Interest Payment Date will be paid, in accordance with Section 17.07, on the next Business Day to Holders at 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 to, but not including, such Optional Redemption Date. 

“Redemption Reference Price” means, for any exchange of Notes in connection with an Optional Redemption, the
average of the Last Reported Sale Prices per share of the Common Stock over the five Trading Day period ending on, and including, the Trading Day immediately preceding the Redemption Notice Date. 

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

“Registration Default” shall have the meaning specified in the Registration Rights Agreement. 

“Registration Default Additional Interest” means the “Additional Interest” payable pursuant to
Section 7 of the Registration Rights Agreement. 

  
 11 

 “Registration Rights Agreement” means the Registration
Rights Agreement, dated as of February 18, 2020, among the Company, the Guarantor and BofA Securities, Inc., as the representative of the initial purchasers referenced therein, as amended from time to time in accordance with its terms. 

“Regular Record Date,” with respect to any Interest Payment Date, shall mean the February 1 or
August 1 (whether or not such day is a Business Day), as the case may be, immediately preceding such Interest Payment Date. 

“Relevant Stock Exchange” means The Nasdaq Global Select Market or, if the Common Stock (or other security for
which a Last Reported Sale Price or the Daily VWAP, as the case may be, must be determined) is not then listed on The Nasdaq Global Select Market, the principal other U.S. national or regional securities exchange on which the Common Stock (or such
other security) is then listed. 
 “Resale Restriction Termination Date” shall have the meaning specified in
Section 2.05(c). 
 “Responsible Officer” means, with respect to the Trustee, any officer assigned to
the Corporate Trust Division – Corporate Finance Unit (or any successor division or unit) of the Trustee located at the Corporate Trust Office of the Trustee or to whom any corporate trust matter relating to this Indenture is referred because
of such person’s knowledge of and familiarity with the particular subject, and, in each case, who shall have direct responsibility for the administration of this Indenture. 

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

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

“Scheduled Trading Day” means a day that is scheduled to be a Trading Day on the Relevant Stock Exchange. If
the Common Stock is not so listed or admitted for trading on a Relevant Stock Exchange, “Scheduled Trading Day” means a “Business Day.” 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder. 
 “Separation Event” shall have the meaning specified in Section 14.11. 

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

“Settlement Method” means, with respect to any exchange of Notes, Physical Settlement, Cash Settlement or
Combination Settlement, as elected (or deemed to have been elected) by the Company. 
 “Significant
Subsidiary” means a Subsidiary of the Guarantor that is a “significant subsidiary” as defined under Rule 1-02(w) of Regulation S-X, promulgated
pursuant to the Securities Act. 

  
 12 

 “Specified Corporate Event” shall have the meaning
specified in Section 14.07(a). 
 “Specified Dollar Amount” means, with respect to any exchange of
Notes, the maximum cash amount per $1,000 principal amount of Notes to be received upon exchange as specified by the Company (or deemed specified) in the notice specifying the Company’s chosen Settlement Method. 

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

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

“Subsidiary” means, with respect to any Person: 

(a) any corporation, association or other business entity (other than a partnership, joint venture, limited liability company
or similar entity) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time of
determination owned or controlled, directly or indirectly, by (i) such Person; (ii) such Person and one or more Subsidiaries of such Person; or (iii) one or more Subsidiaries of such Person; and 

(b) any partnership, joint venture, limited liability company or similar entity of which (x) more than 50% of the capital
accounts, distribution rights, total equity and voting interest or general or limited partnership interests, as applicable, are owned or controlled, directly or indirectly, by (i) such Person; (ii) such Person and one or more Subsidiaries
of such Person; or (iii) one or more Subsidiaries of such Person, in each case, whether in the form of membership, general, special or limited partnership interests or otherwise, and (y) such Person or any Subsidiary of such Person is a
controlling general partner or otherwise controls such entity. 
 “Successor Company” shall have the meaning
specified in Section 11.02(a)(i). 
 “Successor Guarantor” shall have the meaning specified in
Section 11.01(a)(i). 
 “Trading Day” means a day on which: 

(a)    trading in the Common Stock (or other security for which a Last Reported Sale Price must be
determined) generally occurs on the Relevant Stock Exchange or, if the Common Stock (or such other security) is not then listed on a Relevant Stock Exchange, on the principal other market on which the Common Stock (or such other security) is then
traded; and 
 (b)    a Last Reported Sale Price per share of Common Stock (or Last Reported Sale Price
for such other security) is available on the Relevant Stock Exchange or such other market; 
 provided, that, if the Common Stock (or
such other security) is not so listed or traded, “Trading Day” means a “Business Day.” 

“Trading Price” per $1,000 principal amount of the Notes on any date of determination means the average of the
secondary market bid quotations obtained in writing by the Bid Solicitation Agent for $5,000,000 principal amount of Notes at approximately 3:30 p.m. (New York City time) on such determination date from three

  
 13 

 
independent U.S. nationally recognized securities dealers the Company selects for this purpose; provided that if three such bids cannot reasonably be obtained by the Bid Solicitation Agent
but two such bids are obtained, then the average of such two bids shall be used, and if only one such bid can reasonably be obtained by the Bid Solicitation Agent, that one bid shall be used. If the Bid Solicitation Agent cannot reasonably obtain at
least one bid for $5,000,000 principal amount of Notes from an independent U.S. nationally recognized securities dealer, then the Trading Price per $1,000 principal amount of Notes shall be deemed to be less than 98% of the product of the Last
Reported Sale Price per share of the Common Stock and the Exchange Rate on such day. 
 “transfer” shall
have the meaning specified in Section 2.05(b). 
 “Trigger Event” shall have the meaning specified in
Section 14.04(c). 
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, as it was
in force at the date of execution of this Indenture. 
 “Trustee” means the Person named as the
“Trustee” in the first paragraph of this Indenture until a successor trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person
who is then a Trustee hereunder. 
 “Unit of Reference Property” shall have the meaning specified in
Section 14.07(a). 
 “Valuation Period” shall have the meaning specified in Section 14.04(c). 

“VWAP Trading Day” means a day on which: 

(a)    there is no Market Disruption Event; and 

(b)    trading in the Common Stock generally occurs on the Relevant Stock Exchange. 

If the Common Stock is not so listed or admitted for trading on any Relevant Stock Exchange, “VWAP Trading Day” means
a “Business Day.” 
 Section 1.02. References to Interest. Unless the context otherwise requires, any reference
to interest on, or in respect of, any Note in this Indenture shall be deemed to include Additional Interest if, in such context, Additional Interest is, was or would be payable pursuant to any of Section 4.06(d) and Section 6.03. Unless
the context otherwise requires, any express mention of Additional Interest in any provision hereof shall not be construed as excluding Additional Interest in those provisions hereof where such express mention is not made. 

ARTICLE 2 
 ISSUE,
DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES 

Section 2.01. Designation and Amount. The Notes shall be designated as the “1.00% Exchangeable Senior Notes due
2025.” The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is initially limited to $138,000,000, subject to Section 2.10 and except for Notes authenticated and delivered upon registration of
transfer of, or in exchange for, or in lieu of other Notes pursuant to Section 2.05, Section 2.06, Section 2.07, Section 10.04, Section 14.02 and Section 15.04. 

  
 14 

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

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

Any of the Notes may have such letters, numbers or other marks of identification and such notations, legends or endorsements as any Officer
executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made
pursuant thereto or with any rule or regulation of any securities exchange or automated quotation system on which the Notes may be listed or designated for issuance, or to conform to usage or to indicate any special limitations or restrictions to
which any particular Notes are subject. 
 Each Global Note shall represent such principal amount of the outstanding Notes as shall be
specified therein and shall provide that it shall represent the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from time to time
be increased or reduced to reflect repurchases, cancellations, exchanges for cash, shares of Common Stock or a combination thereof, transfers or exchanges permitted hereby. Any endorsement of a Global Note to reflect the amount of any increase or
decrease in the amount of outstanding Notes represented thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in such manner and upon instructions given by the Holder of such Notes in accordance with this Indenture.
Payment of principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, and accrued and unpaid interest on, a Global Note shall be made to the Holder of such Note on the date of payment, unless a record
date or other means of determining Holders eligible to receive payment is provided for herein. 
 Section 2.03. Date and
Denomination of Notes; Payments of Interest and Defaulted Amounts. (a) The Notes shall be issuable in registered form without coupons in minimum denominations of $1,000 principal amount and integral multiples of $1,000 in excess thereof.
Each Note shall be dated the date of its authentication and shall bear interest from the date specified on the face of the form of Note attached as Exhibit A hereto. Accrued interest on the Notes shall be computed on the basis of a 360-day year composed of twelve 30-day months and, for a partial month, on the basis of the number of days actually elapsed in a 30-day
month. 

  
 15 

 (b)    The Person in whose name any Note (or its Predecessor Note) is
registered on the Note Register at the close of business on the Regular Record Date immediately preceding the relevant Interest Payment Date shall be entitled to receive the interest payable on such Interest Payment Date. Interest shall be payable
at the office or agency of the Company maintained by the Company for such purposes, which shall initially be the Corporate Trust Office. The Company shall pay interest: 

(i)    on any Certificated Notes (A) to Holders holding Certificated Notes having an aggregate
principal amount of $1,000,000 or less, by check mailed to the Holders of these Notes at their address as it appears in the Note Register and (B) to Holders holding Certificated Notes having an aggregate principal amount of more than
$1,000,000, either by check mailed to such Holders or, upon application by such a Holder to the Note Registrar not later than the relevant Regular Record Date, by wire transfer in immediately available funds to that Holder’s account within the
United States, which application shall remain in effect until the Holder notifies the Note Registrar to the contrary in writing; and 

(ii)    on any Global Note by wire transfer of immediately available funds to the account of the Depositary
or its nominee. 
 (c)    Any Defaulted Amounts shall forthwith cease to be payable to the Holder on the relevant
payment date but shall accrue interest per annum at the rate borne by the Notes from, and including, such relevant payment date, and such Defaulted Amounts together with such interest thereon shall be paid by the Company, at its election in each
case, as provided in clause (i) or (ii) below: 
 (i)     The Company may elect to make payment of
any Defaulted Amounts to the Persons in whose names the Notes (or their respective Predecessor Notes) are registered at the close of business on a special record date for the payment of such Defaulted Amounts, which shall be fixed in the following
manner. The Company shall notify the Trustee in writing of the amount of the Defaulted Amounts proposed to be paid on each Note and the date of the proposed payment (which shall be not less than 25 days after the receipt by the Trustee of such
notice, unless the Trustee shall consent to an earlier date), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount to be paid in respect of such Defaulted Amounts or shall make arrangements
satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Amounts as in this clause provided. Thereupon the
Company shall fix a special record date for the payment of such Defaulted Amounts which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment, and not less than 10 days after the receipt by the Trustee of
the notice of the proposed payment. The Company shall promptly notify the Trustee of such special record date and the Trustee, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Amounts and
the special record 

  
 16 

 
date therefor to be sent to each Holder at its address as it appears in the Note Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such
Defaulted Amounts and the special record date therefor having been sent, such Defaulted Amounts shall be paid to the Persons in whose names the Notes (or their respective Predecessor Notes) are registered at the close of business on such special
record date and shall no longer be payable pursuant to the following clause (ii) of this Section 2.03(c). 

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

Section 2.04. Execution, Authentication and Delivery of Notes. The Notes shall be signed in the name and on behalf
of the Company by the manual or facsimile signature of at least one of its Officers. 
 At any time and from time to time after the
execution and delivery of this Indenture, the Company may deliver Notes executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Notes, and the Trustee in accordance with
such Company Order shall authenticate and deliver such Notes, without any further action by the Company hereunder. 
 Only such Notes as
shall bear thereon a certificate of authentication substantially in the form set forth on the form of Note attached as Exhibit A hereto, executed manually by an authorized signatory of the Trustee (or an authenticating agent appointed by the Trustee
as provided by Section 17.11), shall be entitled to the benefits of this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee (or such an authenticating agent) upon any Note executed by the Company shall be
conclusive evidence that the Note so authenticated has been duly authenticated and delivered hereunder and that the Holder is entitled to the benefits of this Indenture. 

In case any Officer of the Company who shall have signed any of the Notes shall cease to be such Officer before the Notes so signed shall have
been authenticated and delivered by the Trustee, or disposed of by the Company, such Notes nevertheless may be authenticated and delivered or disposed of as though the Person who signed such Notes had not ceased to be such Officer of the Company;
and any Note may be signed on behalf of the Company by such persons as, at the actual date of the execution of such Note, shall be an Officer of the Company, although at the date of the execution of this Indenture any such Person was not such an
Officer. 
 Section 2.05. Exchange and Registration of Transfer of Notes; Restrictions on Transfer; Depositary. The Company shall cause
to be kept at the Corporate Trust Office a register (the register maintained in such office or in any other office or agency of the Company designated pursuant to Section 4.02, the “Note Register”) in which, subject to such
reasonable regulations 

  
 17 

 
or procedures as it may prescribe, the Company shall provide for the registration of Notes and transfers of Notes. Such register shall be in written form or in any form capable of being converted
into written form within a reasonable period of time. The Trustee is hereby initially appointed the “Note Registrar” for the purpose of registering Notes and transfers of Notes as herein provided. The Company may appoint one or more
co-Note Registrars in accordance with Section 4.02. 
 Upon surrender for registration of
transfer of any Note to the Note Registrar or any co-registrar, and satisfaction of the requirements for such transfer set forth in this Section 2.05, the Company shall execute, and the Trustee shall
authenticate and deliver, in the name of the designated transferee or transferees, one or more new Notes of any authorized denominations and of a like aggregate principal amount and bearing such restrictive legends as may be required by this
Indenture. 
 Notes may be exchanged for other Notes of any Authorized Denominations and of a like aggregate principal amount, upon
surrender of the Notes to be exchanged at any such office or agency maintained by the Company pursuant to Section 4.02. Whenever any Notes are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and
deliver, the Notes that the Holder making the exchange is entitled to receive, bearing registration numbers not contemporaneously outstanding. 

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

No service charge shall be imposed by the Company, the Trustee, the Note Registrar or any co-Note
Registrar for any registration of transfer of Notes or exchange of Notes for other Notes, but the Company or the Trustee may require a Holder to pay a sum sufficient to cover any transfer tax or other similar governmental charge required by law or
permitted pursuant to Section 14.02(d) or Section 14.02(e). 
 None of the Company, the Trustee, the Note Registrar or any co-Note Registrar shall be required to exchange or register a transfer of (i) any Notes surrendered for exchange for cash, shares of Common Stock or a combination thereof or, if a portion of any Note is
surrendered for exchange for cash, shares of Common Stock or a combination thereof, such portion thereof surrendered for exchange for cash, shares of Common Stock or a combination thereof, (ii) any Notes, or a portion of any Note, surrendered
for repurchase (and not withdrawn) in accordance with Article 15 or (iii) any Notes, or a portion of any Note, surrendered for redemption in accordance with Article 16. 

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

  
 18 

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

(b)    Every Note that bears or is required under this Section 2.05(b) to bear the legend set forth in this
Section 2.05(b) (together with any shares of Common Stock delivered upon exchange of the Notes and required to bear the legend set forth in Section 2.05(c), collectively, the “Restricted Securities”) shall be subject to
the restrictions on transfer set forth in this Section 2.05(b) (including the legend set forth below), unless such restrictions on transfer shall be eliminated or otherwise waived by written consent of the Company, and the Holder of each such
Restricted Security, by such Holder’s acceptance thereof, agrees to be bound by all such restrictions on transfer. As used in this Section 2.05(b) and Section 2.05(c), the term “transfer” encompasses any sale, pledge,
transfer or other disposition whatsoever of any Restricted Security. 
 Any certificate evidencing such Note (and all securities issued in
exchange therefor or substitution thereof, other than shares of Common Stock, if any, delivered upon exchange thereof, which shall bear the legend set forth in Section 2.05(c), if applicable) shall bear a legend in substantially the following
form (unless otherwise agreed by the Company in writing, with notice thereof to the Trustee): 
 THIS SECURITY AND THE SHARES
OF CLASS A COMMON STOCK, IF ANY, DELIVERABLE UPON EXCHANGE OF THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT
IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER: 

(1)    REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL
BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT AND THAT IT AND ANY SUCH ACCOUNT IS NOT AN AFFILIATE OF I3 VERTICALS, INC. (THE
“COMPANY”), AND 
 (2)    AGREES FOR THE BENEFIT OF THE COMPANY AND I3 VERTICALS, LLC (“i3
LLC”) THAT IT WILL NOT (X) OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN, EXCEPT: 

(A)    TO THE COMPANY OR ANY SUBSIDIARY THEREOF (INCLUDING I3 LLC), OR 

  
 19 

 (B)     TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE
WITH RULE 144A UNDER THE SECURITIES ACT THAT IS NOT AN AFFILIATE OF THE COMPANY. 
 NO AFFILIATE (AS DEFINED IN RULE 144
UNDER THE SECURITIES ACT) OF THE COMPANY OR i3 LLC AND NO PERSON THAT HAS BEEN AN AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF THE COMPANY OR I3 LLC DURING THE THREE IMMEDIATELY PRECEDING MONTHS MAY PURCHASE, OTHERWISE ACQUIRE OR
OWN THIS SECURITY OR A BENEFICIAL INTEREST HEREIN. 
 No transfer of any Note will be registered by the Note Registrar unless the applicable
box on the Form of Assignment and Transfer has been checked. 
 Notwithstanding any other provisions of this Indenture (other than the
provisions set forth in this Section 2.05(b)), a Global Note may not be transferred as a whole or in part except (i) by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of
the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary and (ii) for transfers of portions of a Global Note in certificated form made upon request of a member of, or a
participant in, the Depositary (for itself or on behalf of a beneficial owner) by written notice given to the Trustee by or on behalf of the Depositary in accordance with Applicable Procedures and in compliance with this Section 2.05(b). 

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

(x)    the Depositary (i) notifies the Company at any time that the Depositary is unwilling or unable to continue as
depositary for the Global Notes and a successor depositary is not appointed within 90 days or (ii) ceases to be a clearing agency registered under the Exchange Act and a successor depositary is not appointed within 90 days; or 

(y)    there has occurred and is continuing an Event of Default and a beneficial owner of any Note requests through the
Depositary that its beneficial interest therein be issued in a Certificated Note, 
 the Company shall execute, and the Trustee, upon receipt of an
Officer’s Certificate, an Opinion of Counsel and a Company Order for the authentication and delivery of Notes, shall authenticate and deliver Certificated Notes to each beneficial owner of the related Global Notes (or a portion

  
 20 

 
thereof) in an aggregate principal amount equal to the aggregate principal amount of such Global Notes in exchange for such Global Notes, and upon delivery of the Global Notes to the Trustee such
Global Notes shall be canceled. 
 Certificated Notes issued in exchange for all or a part of the Global Note pursuant to this
Section 2.05(b) shall be registered in such names and in such authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. Upon execution and
authentication, the Trustee shall deliver such Certificated Notes to the Persons in whose names such Certificated Notes are so registered. 

At such time as all interests in a Global Note have been exchanged, canceled, repurchased or transferred, such Global Note shall be, upon
receipt thereof, canceled by the Trustee in accordance with Applicable Procedures and existing instructions between the Depositary and the Custodian. At any time prior to such cancellation, if any interest in a Global Note is exchanged for
Certificated Notes, exchanged, canceled, repurchased or transferred to a transferee who receives Certificated Notes therefor or any Certificated Note is exchanged or transferred for part of such Global Note, the principal amount of such Global Note
shall, in accordance with the Applicable Procedures and instructions existing between the Depositary and the Custodian, be appropriately reduced or increased, as the case may be, and an endorsement shall be made on such Global Note, by the Trustee
or the Custodian, at the direction of the Trustee, to reflect such reduction or increase. 
 None of the Company, the Guarantor, the Trustee
and any agent of the Company, the Guarantor or the Trustee shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Note or maintaining,
supervising or reviewing any records relating to such beneficial ownership interests. None of the Company, the Guarantor and the Trustee shall have any responsibility or liability for any act or omission of the Depositary. 

(c)    Until the date (the “Resale Restriction Termination Date”) that is the later of (1) the date
that is one year after the delivery date of the relevant shares of Common Stock, or such other period of time as permitted by Rule 144 under the Securities Act or any successor provision thereto, and (2) such later date, if any, as may be
required by applicable law, any stock certificate representing shares of Common Stock delivered upon exchange of a Note shall bear a legend in substantially the following form (unless such shares of Common Stock have been transferred pursuant to a
registration statement that has become or been declared effective under the Securities Act and that continues to be effective at the time of such transfer or unless otherwise agreed by the Company in writing, with notice thereof to the Trustee and
any transfer agent for the Common Stock): 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN 

  
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ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER: 

(1)    REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL
BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT AND THAT IT AND ANY SUCH ACCOUNT IS NOT AN AFFILIATE OF i3 VERTICALS, INC., AND 

(2)    AGREES FOR THE BENEFIT OF i3 VERTICALS, INC. (THE “COMPANY”) AND i3 VERTICALS, LLC
(“i3 LLC”) THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE DATE ON WHICH SUCH EXCHANGE OCCURS, OR SUCH SHORTER
PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THERETO, AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW EXCEPT: 

(A)    TO THE COMPANY OR ANY SUBSIDIARY THEREOF (INCLUDING i3 LLC), OR 

(B)    PURSUANT TO, AND IN ACCORDANCE WITH, AN EFFECTIVE REGISTRATION STATEMENT OF THE COMPANY THAT COVERS
THE RESALE OF THIS SECURITY, OR 
 (C)    TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A
UNDER THE SECURITIES ACT THAT IS NOT AN AFFILIATE OF THE COMPANY, OR 
 (D)    PURSUANT TO AN EXEMPTION
FROM REGISTRATION PROVIDED BY RULE 144 (IF AVAILABLE) UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH (2)(D) ABOVE, THE COMPANY, i3 LLC, THE TRANSFER AGENT FOR THE
CLASS A COMMON STOCK RESERVES THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES
ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

NO AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF THE COMPANY OR i3 LLC AND NO PERSON THAT HAS BEEN AN
AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF THE COMPANY OR i3 LLC DURING THE THREE IMMEDIATELY PRECEDING MONTHS MAY PURCHASE, OTHERWISE ACQUIRE OR OWN THIS SECURITY OR A BENEFICIAL INTEREST HEREIN. 

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

(e)    Any shares of Common Stock delivered upon the exchange of a Note that is purchased or owned by an Affiliate of the
Guarantor (or any Person who was an Affiliate of the Guarantor at any time during the three months preceding) may not be resold by such Affiliate unless registered under the Securities Act or resold pursuant to an exemption from the registration
requirements of the Securities Act in a transaction that results in such shares of Common Stock no longer being a “restricted security” (as defined under Rule 144 under the Securities Act). The Trustee shall have no obligation or duty to
monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among members of, or
participants in, the Depositary or beneficial owners of interests in any Global Note) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required
by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

(f)    Neither the Trustee nor any agent of the Trustee shall have any responsibility for any actions taken or not taken
by the Depositary. 
 Section 2.06. Mutilated, Destroyed, Lost or Stolen Notes. In case any Note shall become mutilated
or be destroyed, lost or stolen, the Company in its discretion may execute, and upon its written request the Trustee or an authenticating agent appointed by the Trustee shall authenticate and deliver, a new Note, bearing a registration number not
contemporaneously outstanding, in exchange and substitution for the mutilated Note, or in lieu of and in substitution for the Note so destroyed, lost or stolen. In every case the applicant for a substituted Note shall furnish to the Company, to the
Trustee and, if applicable, to such authenticating agent such security or indemnity as may be required by them to save each of them harmless from any loss, liability, cost or expense caused by or connected with such substitution, and, in every case
of destruction, loss or theft, the applicant shall also furnish to the Company, to the Trustee and, if applicable, to such authenticating agent evidence to their satisfaction of the destruction, loss or theft of such Note and of the ownership
thereof. 
 The Trustee or such authenticating agent may authenticate any such substituted Note and deliver the same upon the receipt of
such security or indemnity as the Trustee, the Company and, if applicable, such authenticating agent may require. Upon the issuance of any substitute Note, the Company or the Trustee may require the payment by the Holder of a sum sufficient to cover
any tax, assessment or other governmental charge that may be imposed in relation thereto and any other expenses connected therewith. In case any Note that has matured or is about to mature, 

  
 23 

 
is subject to Optional Redemption, or has been surrendered for repurchase or is about to be exchanged in accordance with Article 14 shall become mutilated or be destroyed, lost or stolen, the
Company may, in its sole discretion, instead of issuing a substitute Note, pay or authorize the payment of or exchange or authorize the exchange of the same (without surrender thereof except in the case of a mutilated Note), as the case may be, if
the applicant for such payment or exchange shall furnish to the Company, to the Trustee and, if applicable, to any Paying Agent or Exchange Agent such security or indemnity as may be required by them to save each of them harmless from any loss,
liability, cost or expense caused by or connected with such payment or exchange, and, in every case of destruction, loss or theft, evidence satisfactory to the Company, the Trustee and, if applicable, any Paying Agent or Exchange Agent evidence to
their satisfaction of the destruction, loss or theft of such Note and of the ownership thereof. 
 Every substitute Note issued pursuant to
the provisions of this Section 2.06 by virtue of the fact that any Note is destroyed, lost or stolen shall constitute an additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Note shall be found at any
time, and shall be entitled to all the benefits of (but shall be subject to all the limitations set forth in) this Indenture equally and proportionately with any and all other Notes duly issued hereunder. To the extent permitted by law, all Notes
shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment or exchange or repurchase of mutilated, destroyed, lost or stolen Notes and shall preclude any and all other
rights or remedies notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment or exchange of negotiable instruments or other securities without their surrender. 

Section 2.07. Temporary Notes. Pending the preparation of Certificated Notes, the Company may execute and the Trustee or an
authenticating agent appointed by the Trustee shall, upon written request of the Company, authenticate and deliver temporary Notes (printed or lithographed). Temporary Notes shall be issuable in any authorized denomination, and substantially in the
form of the Certificated Notes but with such omissions, insertions and variations as may be appropriate for temporary Notes, all as may be determined by the Company. Every such temporary Note shall be executed by the Company and authenticated by the
Trustee or such authenticating agent upon the same conditions and in substantially the same manner, and with the same effect, as the Certificated Notes. Without unreasonable delay, the Company shall execute and deliver to the Trustee or such
authenticating agent Certificated Notes (other than any Global Note) and thereupon any or all temporary Notes (other than any Global Note) may be surrendered in exchange therefor, at each office or agency maintained by the Company pursuant to
Section 4.02 and the Trustee or such authenticating agent shall authenticate and deliver in exchange for such temporary Notes an equal aggregate principal amount of Certificated Notes. Such exchange shall be made by the Company at its own
expense and without any charge therefor. Until so exchanged, the temporary Notes shall in all respects be entitled to the same benefits and subject to the same limitations under this Indenture as Certificated Notes authenticated and delivered
hereunder. 
 Section 2.08. Cancellation of Notes Paid, Exchanged, Etc. The Company shall cause all Notes surrendered for the
purpose of payment, redemption, registration of transfer or exchange, or exchange for cash, shares of Common Stock or a combination thereof (subject to the provisions of Section 14.02(j)), if surrendered to any Person other than the Trustee
(including 

  
 24 

 
any of the Company’s agents or Subsidiaries), to be delivered to the Trustee for cancellation, and such Notes shall no longer be considered outstanding for purposes of this Indenture upon
their payment, redemption, repurchase, registration of transfer or exchange, or exchange for cash, shares of Common Stock or a combination thereof (subject to the provisions of Section 14.02(j)). All Notes delivered to the Trustee for
cancellation shall be cancelled promptly by it. No Notes shall be authenticated in exchange for any Notes cancelled, except as expressly permitted by any of the provisions of this Indenture. The Trustee shall dispose of canceled Notes in accordance
with its customary procedures. If the Guarantor, the Company or any of the Guarantor’s Subsidiaries shall acquire any of the Notes, such acquisition shall not operate as a purchase or satisfaction of the indebtedness represented by such Notes
unless and until the same are delivered to the Trustee for cancellation. 
 Section 2.09. CUSIP Numbers. The Company in
issuing the Notes may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee may use “CUSIP” numbers in notices issued to Holders as a convenience to such Holders; provided that any such notice may state
that no representation is made as to the correctness of such numbers either as printed on the Notes or on such notice and that reliance may be placed only on the other identification numbers printed on the Notes. The Company shall promptly notify
the Trustee in writing of any change in the “CUSIP” numbers. 
 Section 2.10. Additional Notes; Purchases. (a)
The Company may, from time to time, without the consent of, or notice to, the Holders, issue additional Notes under this Indenture with the same terms and with the same CUSIP number as the Notes issued on the Issue Date (other than differences in
the issue date, the issue price and interest accrued prior to the issue date of such additional Notes and, if applicable, the initial Interest Payment Date and restrictions on transfer in respect of such additional Notes) in an unlimited aggregate
principal amount; provided that if any such additional Notes are not fungible with the Notes issued on the Issue Date for U.S. federal income tax purposes, such additional Notes shall have a separate CUSIP number (for the avoidance of doubt,
any resale by the Company for this purpose shall be deemed to be an issuance). Such Notes issued on the Issue Date and the additional Notes shall rank equally and ratably and shall be treated as a single series for all purposes under this Indenture.
Prior to the issuance of any such additional Notes, the Company shall deliver to the Trustee a Company Order, an Officer’s Certificate and an Opinion of Counsel, such Officer’s Certificate and Opinion of Counsel to cover such matters, in
addition to those required by Section 17.06, as the Trustee shall reasonably request. 
 (b)    The Company may, to
the extent permitted by law and without the consent of Holders, directly or indirectly (regardless of whether such Notes are surrendered to the Company), repurchase Notes in the open market or otherwise, whether by the Guarantor, the Company or the
Guarantor’s other Subsidiaries or through a private or public tender or exchange offer or through counterparties to private agreements, including by cash-settled swaps or other derivatives. Any Notes so repurchased will be considered
outstanding for all purposes under the Indenture (subject to Section 8.04) unless and until such time the Company shall surrender them to the trustee for cancellation and, upon receipt of a Company Order, the Trustee shall cancel all Notes so
surrendered; provided that any Notes held by the Company, the Guarantor, any of the Company’s subsidiaries or Affiliates or any Subsidiary of any of such Affiliate shall be deemed to be not outstanding for the purpose of determining
whether Holders of the requisite aggregate principal amount of Notes have concurred in any direction, consent, waiver or other action under the Indenture. 

  
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 ARTICLE 3 

SATISFACTION AND DISCHARGE 

Section 3.01. Satisfaction and Discharge. This Indenture and the Notes shall upon request of the Company contained in an
Officer’s Certificate cease to be of further effect (except as set forth in the last paragraph of this Section 3.01), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge
of this Indenture, when: 
 (i)    either: 

(A)    all Notes theretofore authenticated and delivered (other than (x) Notes which have been
destroyed, lost or stolen and which have been replaced or paid as provided in Section 2.06 and (y) Notes for whose payment money has theretofore been deposited in trust with the Trustee or segregated and held in trust by the Company and
thereafter repaid to the Company or discharged from such trust, as provided in Section 4.04(d)) have been delivered to the Note Registrar for cancellation; or 

(B)    the Company or the Guarantor has deposited with the Trustee or delivered to Holders, as applicable,
after all of the outstanding Notes have (i) become due and payable, whether at the Maturity Date, upon Optional Redemption or at any Fundamental Change Repurchase Date, and/or (ii) have been exchanged (and the related Settlement Amounts
have been determined), cash or cash and/or shares of Common Stock (solely to satisfy the Company’s Exchange Obligations), as applicable, sufficient to pay all of the outstanding Notes and/or satisfy all exchanges, as the case may be, and pay
all other sums due and payable under this Indenture by the Company and the Guarantor; and 
 (ii)    the
Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company and the Guarantor to the Trustee under Section 7.06 and,
if cash or shares of Common Stock shall have been deposited with the Paying Agent pursuant to Section 3.01(i)(B), Section 4.04 shall survive such satisfaction and discharge. 

  
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 ARTICLE 4 

PARTICULAR COVENANTS OF THE COMPANY AND
THE GUARANTOR 
 Section 4.01. Payment of Principal, Settlement Amounts and Interest. The
Company shall pay or cause to be paid the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, the Settlement Amounts owed on exchange of, and interest on the Notes on the dates and in the manner
provided in the Notes. Principal, Settlement Amounts and interest shall be considered paid on the date due if the Paying Agent, if other than the Company or the Guarantor, holds as of 10:00 a.m., New York City time, on the due date money deposited
by the Company or the Guarantor in immediately available funds and designated for and sufficient to pay all principal, Settlement Amounts and interest then due. Unless such Paying Agent is the Trustee, the Company will promptly notify the Trustee in
writing of any failure to take such action. 
 The Company shall pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) and overdue Settlement Amounts owed on exchange to the extent they include cash, at the rate equal to the interest rate
on the Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period), at the same rate to the
extent lawful. 
 Section 4.02. Maintenance of Office or Agency. The Company shall maintain an office or agency (which
may be an office of the Trustee or an Affiliate of the Trustee) where Notes may be presented or surrendered for registration of transfer or exchange or for payment, redemption or repurchase (“Paying Agent”) or for exchange
(“Exchange Agent”) and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. The Company shall give prompt written notice to the Trustee of the location, and any change in the
location, of such office or agency. The Company shall, at all times, maintain an office or agency in the continental United States to serve as the Company’s Paying Agent and Exchange Agent for the Notes. If at any time the Company shall fail to
maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee. 

The Company may also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered for any
or all such purposes and may from time to time rescind such designations. Further, if at any time there shall be no such office or agency in the continental United States where the Notes may be presented or surrendered for payment, the Company shall
forthwith designate and maintain such an office or agency in the continental United States, in order that the Notes shall at all times be payable in the continental United States. The Company shall give prompt written notice to the Trustee of any
such designation or rescission and of any change in the location of any such other office or agency. The terms “Paying Agent” and “Exchange Agent” include any such additional or other offices or agencies, as
applicable. 

  
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 The Company hereby appoints the Trustee as Paying Agent, Note Registrar, Custodian and
Exchange Agent and designates the Corporate Trust Office of the Trustee as one such office or agency of the Company. 

Section 4.03. Appointments to Fill Vacancies in Trustee’s Office. The Company, whenever necessary to
avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.09, a Trustee, so that there shall at all times be a Trustee hereunder. 

Section 4.04. Provisions as to Paying Agent. (a) If the Company shall appoint a Paying Agent other than the Trustee,
the Company will cause such Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section 4.04: 

(i)    that it will hold all sums held by it as such agent for the payment of the principal (including the
Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, the Settlement Amounts owed on exchange to the extent they include cash, and accrued and unpaid interest on, the Notes in trust for the benefit of the Holders of the
Notes; 
 (ii)    that it will give the Trustee prompt notice of any failure by the Company to make any
payment of the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, the Settlement Amounts owed on exchange to the extent they include cash, and accrued and unpaid interest on, the Notes when the
same shall be due and payable; and 
 (iii)    that at any time during the continuance of an Event of
Default, upon request of the Trustee, it will forthwith pay to the Trustee all sums so held in trust. 
 (b)    If the
Company shall act as its own Paying Agent, it will, on or before each due date of the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, the Settlement Amounts owed on exchange to the extent
they include cash, and accrued and unpaid interest on, the Notes, set aside, segregate and hold in trust for the benefit of the Holders of the Notes a sum sufficient to pay such principal (including the Redemption Price and the Fundamental Change
Repurchase Price, if applicable), cash portion of the Settlement Amounts and accrued and unpaid interest so becoming due and will promptly notify the Trustee in writing of any failure to take such action and of any failure by the Company to make any
payment of the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, the Settlement Amounts owed on exchange to the extent they include cash, or accrued and unpaid interest on, the Notes when the
same shall become due and payable. 
 (c)    Anything in this Section 4.04 to the contrary notwithstanding, the
Company may, at any time, for the purpose of obtaining a satisfaction and discharge of this Indenture, or for any other reason, pay, cause to be paid or deliver to the Trustee all sums or amounts held in trust by the Company or any Paying Agent
hereunder as required by this Section 4.04, such sums or amounts to be held by the Trustee upon the trusts herein contained and upon such payment or delivery by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent
shall be released from all further liability but only with respect to such sums or amounts. 

  
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 (d)    Subject to applicable escheat laws, any money deposited with the
Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, the Settlement Amounts owed on exchange to the extent
they include cash, and accrued and unpaid interest on, any Note and remaining unclaimed for two years after such principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable), the Settlement Amounts owed on
exchange to the extent they include cash, or interest has become due and payable shall be paid to the Company on request of the Company contained in an Officer’s Certificate, or (if then held by the Company) shall be discharged from such trust;
and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Company and the Guarantor for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability
of the Company as trustee thereof, shall thereupon cease. 
 Section 4.05. [Reserved.] 

Section 4.06. Rule 144A Information Requirement; Reporting; and Registration Default Additional Interest. (a) For as long
as any Notes are outstanding hereunder, at any time the Guarantor is not subject to Sections 13 and 15(d) of the Exchange Act, the Guarantor shall, so long as any of the Notes or any shares of Common Stock deliverable upon exchange of the Notes
shall, at such time, constitute “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, promptly provide to the Trustee and shall, upon written request, provide to any Holder, beneficial owner or prospective
purchaser of such Notes or any shares of Common Stock deliverable upon exchange of such Notes, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act to facilitate the resale of such Notes or such shares of
Common Stock, as the case may be, pursuant to Rule 144A (as such rule may be amended from time to time). 
 (b)    The
Company shall provide to the Trustee within 15 days after the same are required to be filed with the Commission (after giving effect to any grace period provided by Rule 12b-25 under the Exchange Act or any
successor rule under the Exchange Act), copies of any documents or reports that the Guarantor is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act (excluding any such information, documents or reports, or
portions thereof, subject to confidential treatment and any correspondence with the Commission). Notwithstanding the foregoing, the Company shall in no event be required to file with, or otherwise provide or disclose to, the Trustee or any Holder
any information for which the Guarantor is requesting (assuming such request has not been denied), or has received, confidential treatment from the Commission. Any such document or report that the Guarantor files with the Commission via the
Commission’s EDGAR system (or any successor thereto) shall be deemed to be provided to the Trustee for purposes of this Section 4.06(b) as of the time such documents are filed via the EDGAR system (or such successor). 

(c)    Delivery of the reports, information and documents described in Section 4.06(a) and (b) to the Trustee is
for informational purposes only, and the Trustee’s receipt of such shall 

  
 29 

 
not constitute actual or constructive notice of any information contained therein or determinable from information contained therein, including the Company’s and/or the Guarantor’s
compliance with any of the Company’s and/or the Guarantor’s covenants under this Indenture or the Notes (as to which the Trustee is entitled to conclusively rely on an Officer’s Certificate). The Trustee shall not be obligated to
monitor or confirm, on a continuing basis or otherwise, the Company’s and/or the Guarantor’s compliance with such covenants or to determine whether any reports or other documents have been filed with the Commission or via the
Commission’s EDGAR system (or any successor thereto) or posted on any website, or to participate in any conference calls. 

(d)    Subject to Section 4.06(f) and Section 6.03(b), if a Registration Default occurs under the Registration
Rights Agreement, the Company shall pay the Registration Default Additional Interest in accordance with the Registration Rights Agreement. 

(e)    [Reserved]. 

(f)    Registration Default Additional Interest will be payable in arrears on each Interest Payment Date following accrual
in the same manner as regular interest on the Notes and shall be in addition to any Additional Interest that may accrue, at the Company’s election, as the sole remedy relating to the failure to comply with the Company’s obligations under
Section 4.06(b). In no event, however, will Additional Interest accrue on any day (taking into consideration any Additional Interest payable as described in Section 4.06(d) or Section 6.03(a)) at a rate in excess of 0.50% per annum,
regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. 

(g)    If Additional Interest is payable by the Company pursuant to Section 4.06(d) or Section 6.03(a), the
Company shall deliver to the Trustee an Officer’s Certificate to that effect stating (i) the amount of such Additional Interest that is payable and (ii) the date on which such Additional Interest is payable. Unless and until a
Responsible Officer of the Trustee receives at the Corporate Trust Office such a certificate, the Trustee may assume without inquiry that no such Additional Interest is payable. 

Section 4.07. No Rights as Stockholders. Holders of Notes, as such, will not have any rights as stockholders of the
Guarantor or the Company (including, without limitation, voting rights and rights to receive any dividends or other distributions on Common Stock). 

Section 4.08. Stay, Extension and Usury Laws. Each of the Company and the Guarantor covenants (to the extent that it may
lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the
covenants or the performance of this Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it shall not, by resort to any such law, hinder, delay or
impede the execution of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law has been enacted. 

  
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 Section 4.09. Compliance Certificate; Statements as to Defaults. 

(a)    The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year (beginning with the year
ended September 30, 2020), an Officer’s Certificate stating that, in the course of the performance of his or her duties as an Officer, the signer thereof would normally have knowledge of any Default by the Company, that a review of the
Company’s activities during the previous year has been made under the supervision of the signer thereof and whether the signer thereof has knowledge of any Default that occurred during the previous year and is then continuing and, if so,
specifying each such failure and the nature thereof and what action the Company is taking or proposes to take with respect thereto. 

(b)    The Company shall, so long as any of the Notes are outstanding, deliver to the Trustee an Officer’s
Certificate within 30 days after an Officer of the Company becomes aware of the occurrence of any event that would constitute a Default or Event of Default, specifying each such event, the status thereof and what action the Company is taking or
proposes to take with respect thereto. 
 ARTICLE 5 

[RESERVED] 
 ARTICLE
6 
 DEFAULTS AND REMEDIES 

Section 6.01. Events of Default. The following events shall be “Events of Default” with respect to the
Notes: 
 (a)    default in any payment of interest on any Note when due and payable, and the default continues for a
period of 30 days; 
 (b)    default in the payment of principal of any Note when due and payable on the Maturity Date,
upon any required repurchase, upon an Optional Redemption, upon declaration of acceleration or otherwise; 

(c)    failure by the Company to comply with its obligation to exchange the Notes in accordance with this Indenture upon
exercise of a Holder’s exchange right and such failure continues for three Business Days; 
 (d)    failure by the
Company to issue a Fundamental Change Company Notice in accordance with Section 15.02(c) or notice of a specified corporate transaction in accordance with Section 14.01(b)(ii) or (iii) or a Make-Whole Fundamental Change Company Notice
in accordance with Section 14.03(b), in each case when due, and such failure continues for three Business Days; 

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

  
 31 

 (f)    failure by the Company or the Guarantor for 60 days after written
notice from the Trustee or the Holders of at least 25% in principal amount of the Notes then outstanding has been received by the Company and the Trustee to comply with any of the other agreements of the Company or the Guarantor contained in the
Notes or this Indenture; 
 (g)    default under any mortgage, indenture or instrument under which there is issued or by
which there is secured or evidenced any indebtedness for money borrowed by the Company or Guarantor or the payment of which is guaranteed by the Company or Guarantor, other than indebtedness owed to the Company or the Guarantor, whether such
indebtedness or guarantee now exists or is created after the Issue Date, if both: 
 (i)    such default
either results from the failure to pay any principal of such indebtedness at its stated final maturity (after giving effect to any applicable grace periods) or relates to an obligation other than the obligation to pay principal of any such
indebtedness at its stated final maturity and results in the holder or holders of such indebtedness causing such indebtedness to become due prior to its stated maturity; and 

(ii)    the principal amount of such indebtedness, together with the principal amount of any other such
indebtedness in default for failure to pay principal at stated final maturity (after giving effect to any applicable grace periods), or the maturity of which has been so accelerated, aggregate $15.0 million or more; 

(h)    the Guarantor, the Company or any Significant Subsidiary of the Guarantor, pursuant to or within the meaning of
Bankruptcy Law: 
 (i)    commences proceedings to be adjudicated bankrupt or insolvent; 

(ii)    consents to the institution of bankruptcy or insolvency proceedings against it, or the filing by it
of a petition or answer or consent seeking reorganization or relief under applicable Bankruptcy Law; 

(iii)    consents to the appointment of a receiver, liquidator, assignee, trustee or other similar official
of it or for all or substantially all of its property; 
 (iv)    makes a general assignment for the
benefit of its creditors; or 
 (v)    fails generally to pay its debts as they become due; 

(i)    a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(i)    is for relief against the Guarantor, the Company or any Significant Subsidiary of the Guarantor in a
proceeding in which the Guarantor, the Company or any Significant Subsidiary is to be adjudicated bankrupt or insolvent; 

(ii)    appoints a receiver, liquidator, assignee, trustee or other similar official of the Guarantor, the
Company or any Significant Subsidiary or for all or substantially all of the property of the Guarantor, the Company or any Significant Subsidiary; or 

  
 32 

 (iii)    orders the liquidation of the Guarantor, the
Company or any Significant Subsidiary of the Guarantor; 
 and the order or decree remains unstayed and in effect for 60 consecutive days; 

(j)    failure by the Guarantor, the Company or any Significant Subsidiary to pay final judgments (to the extent such
judgments are not paid or covered by insurance) aggregating in excess of $15.0 million, which final judgments remain unpaid, undischarged and unstayed for a period of more than 60 days after such judgment becomes final, and in the event such
judgment is not covered by insurance, an enforcement proceeding has been commenced by any creditor upon such judgment or decree which is not promptly stayed; 

(k)    the Guarantee by the Guarantor is held in any judicial proceeding to be unenforceable or invalid or ceases for any
reason to be in full force and effect or the Guarantor, or any Person acting on behalf of the Guarantor, denies or disaffirms its obligations under the Guarantee; or 

(l)    the Common Stock (or other Common Equity for which the Notes are then exchangeable) ceases to be listed or admitted
or approved for trading on any of The Nasdaq Global Select Market, The Nasdaq Global Market or The New York Stock Exchange (or any of their respective successors), other than in connection, and substantially contemporaneously, with a Fundamental
Change described in clause (a), (b), (c) or (d) of such definition. 
 Section 6.02. Acceleration. In case one or more
Events of Default shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or
any order, rule or regulation of any administrative or governmental body), then, and in each and every such case (other than an Event of Default specified in Section 6.01(h) or Section 6.01(i) with respect to the Guarantor or the Company),
either the Trustee by notice in writing to the Company, or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding, by notice in writing to the Company and the Trustee, may declare 100% of the principal of, and
accrued and unpaid interest, if any, on, all the Notes to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable. If an Event of Default specified in Section 6.01(h) or
Section 6.01(i) with respect to the Guarantor or the Company occurs and is continuing, 100% of the principal of, and accrued and unpaid interest, if any, on, all Notes shall become and shall automatically be immediately due and payable. 

Section 6.03. Additional Interest. 

(a)    Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the
sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall, after the occurrence of such an Event of Default, consist exclusively of the right to receive
Additional Interest on the Notes (subject to Section 4.06(f) and Section 6.03(b)) at a rate equal to: 

(i)    0.25% per annum of the principal amount of the Notes outstanding for each day during the period
beginning on, and including, the date on which such Event of 

  
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Default first occurred and ending on the earlier of (x) the date on which such Event of Default is cured or validly waived and (y) the 180th day immediately following, and including,
the date on which such Event of Default first occurred; and 
 (ii)    if such Event of Default has not
been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period
beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurred and ending on the earlier of (x) the date on which such Event of Default is cured or validly waived and
(y) the 360th day immediately following, and including, the date on which such Event of Default first occurred. 

(b)    Any Additional Interest payable pursuant to Section 6.03(a) above shall be in addition to any Registration
Default Additional Interest that may accrue pursuant to Section 4.06(d). Notwithstanding anything in this Indenture to the contrary, in no event, however, shall Additional Interest accrue on any day (taking into consideration any Additional
Interest payable pursuant to Section 6.03(a) above, together with Registration Default Additional Interest payable pursuant to Section 4.06(d)) at a rate in excess of 0.50% per annum, regardless of the number of events or circumstances
giving rise to the requirement to pay such Additional Interest. 
 (c)    If the Company elects to pay Additional
Interest pursuant to Section 6.03(a), such Additional Interest shall be payable in the same manner and on the same dates as the stated interest payable on the Notes and will accrue on all Notes then outstanding from, and including, the date on
which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, but not including, the 361st day thereafter (or such earlier date on which such Event of Default
is cured or waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 361st day after such Event of Default (if such Event of Default is not cured or waived prior to such 361st day), such Additional Interest will
cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Company’s failure to comply with
its obligations as set forth in Section 4.06(b) in accordance with this Section 6.03, or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration
as provided in Section 6.02. For the avoidance of doubt, the provisions of this Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. 

(d)    In order to elect to pay Additional Interest as the sole remedy during the first 360 days after the occurrence of
an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b), the Company must notify all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) in writing
of such election on or before the close of business on the date on which such Event of Default first occurs. Upon the Company’s failure to timely give such notice or pay Additional Interest, the Notes shall be immediately subject to
acceleration as provided in Section 6.02. 

  
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 Section 6.04. Payments of Notes on Default; Suit Therefor. If an Event of
Default described in clause (a), (b) or (c) of Section 6.01 shall have occurred and the Notes have become due and payable pursuant to Section 6.02, the Company shall, upon demand of the Trustee, pay to the Trustee, for the benefit of
the Holders of the Notes, the whole amount then due and payable on the Notes for principal (including the Redemption Price or the Fundamental Change Repurchase Price, if applicable), satisfaction of the Exchange Obligation with respect to all Notes
that have been exchanged, and interest, if any, with (to the extent that payment of such interest shall be legally enforceable) interest on any such overdue amounts, at the rate borne by the Notes, and, in addition thereto, such further amount as
shall be sufficient to cover any amounts due to the Trustee under Section 7.06. If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial
proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company, the Guarantor or any other obligor upon the Notes and collect the monies adjudged or
decreed to be payable in the manner provided by law out of the property of the Company, the Guarantor or any other obligor upon the Notes, wherever situated. 

In the event there shall be pending proceedings for the bankruptcy or for the reorganization of the Guarantor or the Company under Bankruptcy
Law, or any other applicable law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Guarantor or the Company, or the
property of the Guarantor or the Company, or in the event of any other judicial proceedings relative to the Guarantor or the Company, or to the creditors or property of the Guarantor or the Company, the Trustee, irrespective of whether the Trustee
shall have made any demand pursuant to the provisions of this Section 6.04, shall be entitled and empowered, by intervention in such proceedings or otherwise, to file and prove a claim or claims for the whole amount of principal and accrued and
unpaid interest, if any, in respect of the Notes, and, in case of any judicial proceedings, to file such proofs of claim and other papers or documents and to take such other actions as it may deem necessary or advisable in order to have the claims
of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceedings relative to the Guarantor or the Company, its
or their creditors, or its or their property, and to collect and receive any monies or other property payable or deliverable on any such claims, and to distribute the same after the deduction of any amounts due to the Trustee under
Section 7.06; and any receiver, assignee or trustee in bankruptcy or reorganization, liquidator, custodian or similar official is hereby authorized by each of the Holders to make such payments to the Trustee, as administrative expenses, and, in
the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for reasonable compensation, expenses, advances and disbursements, including agents and counsel fees, and
including any other amounts due to the Trustee under Section 7.06, incurred by it up to the date of such distribution. To the extent that such payment of reasonable compensation, expenses, advances and disbursements out of the estate in any
such proceedings shall be denied for any reason, payment of the same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, monies, securities and other property that the Holders of the Notes may be entitled
to receive in such proceedings, whether in liquidation or under any plan of reorganization or arrangement or otherwise. 

  
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 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to
or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting such Holder or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any
such proceeding. 
 All rights of action and of asserting claims under this Indenture, or under any of the Notes, may be enforced by the
Trustee without the possession of any of the Notes, or the production thereof at any trial or other proceeding relative thereto, and any such suit or proceeding instituted by the Trustee shall be brought in its own name as trustee of an express
trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Notes. 

In any proceedings brought by the Trustee (and in any proceedings involving the interpretation of any provision of this Indenture to which the
Trustee shall be a party) the Trustee shall be held to represent all the Holders of the Notes, and it shall not be necessary to make any Holders of the Notes parties to any such proceedings. 

In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or
abandoned because of any waiver, rescission or annulment pursuant to Section 6.09 or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Guarantor, the Holders, and the
Trustee shall, subject to any determination in such proceeding, be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the Company, the Holders, and the Trustee shall continue as though no
such proceeding had been instituted. 
 Section 6.05. Application of Monies Collected by Trustee. Any monies collected by
the Trustee pursuant to this Article 6 with respect to the Notes shall be applied in the following order, at the date or dates fixed by the Trustee for the distribution of such monies, upon presentation of the several Notes, and stamping thereon the
payment, if only partially paid, and upon surrender thereof, if fully paid: 
 FIRST:    to the payment of all amounts
due the Trustee under Section 7.06; 
 SECOND:    to the payment of the amounts then due and unpaid for principal
of, the Redemption Price (if applicable) and the Fundamental Change Repurchase Price (if applicable) of, and/or satisfaction of the Exchange Obligation with respect to all Notes that have been exchanged, and interest on the Notes in respect of which
or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Notes; and 

THIRD:    to the Company. 

Section 6.06. Proceedings by Holders. Except to enforce the right to receive payment of principal (including, if
applicable, the Redemption Price and the Fundamental Change Repurchase Price) or interest when due, or the right to receive payment and/or delivery of the consideration due upon exchange of any Note, no Holder of any Note shall have any right by
virtue of or by availing of any provision of this Indenture to institute any suit, action or 

  
 36 

 
proceeding in equity or at law upon or under or with respect to this Indenture, or for the appointment of a receiver, trustee, liquidator, custodian or other similar official, or for any other
remedy hereunder, unless: 
 (a)    such Holder has previously given the Trustee written notice that an Event of Default
is continuing; 
 (b)    the Holders of at least 25% in principal amount of the then outstanding Notes have requested
the Trustee in writing to pursue the remedy; 
 (c)    such Holders have offered the Trustee security or indemnity
satisfactory to the Trustee against any loss, liability or expense; 
 (d)    the Trustee has not complied with such
request within 60 days after the receipt thereof and the offer of such security or indemnity; and 
 (e)    the Holders
of a majority in principal amount of the then outstanding Notes have not given the Trustee a direction that, in the opinion of the Trustee, is inconsistent with such request within such 60-day period. 

A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder, it
being understood that the Trustee does not have an affirmative duty to ascertain whether or not any such use prejudices the rights of another Holder or obtains a preference or priority over another Holder. 

Notwithstanding any other provision of this Indenture and any provision of any Note, the right of any Holder to receive payment or delivery,
as the case may be, of (x) the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, (y) accrued and unpaid interest, if any, on, and (z) the consideration due upon exchange of, such
Note, on or after the respective due dates expressed or provided for in such Note or in this Indenture, or to institute suit against the Company for the enforcement of any such payment or delivery, as the case may be, on or after such respective
dates shall not be amended without the consent of such Holder. 
 Section 6.07. Proceedings by Trustee. In case of an
Event of Default, the Trustee may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as are necessary to protect and enforce any of such rights, either by suit in
equity or by action at law or by proceeding in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any
other legal or equitable right vested in the Trustee by this Indenture or by law. 
 Section 6.08. Remedies Cumulative and
Continuing. Except as provided in the last paragraph of Section 2.06, all powers and remedies given by this Article 6 to the Trustee or to the Holders shall, to the extent permitted by law, be deemed cumulative and not exclusive of
any thereof or of any other powers and remedies available to the Trustee or the Holders of the Notes, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this Indenture, and no
delay or omission of the Trustee or of any 

  
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Holder of any of the Notes to exercise any right or power accruing upon any Default or Event of Default shall impair any such right or power, or shall be construed to be a waiver of any such
Default or Event of Default or any acquiescence therein; and, subject to the provisions of Section 6.06, every power and remedy given by this Article 6 or by law to the Trustee or to the Holders may be exercised from time to time, and as often
as shall be deemed expedient, by the Trustee or by the Holders. 
 Section 6.09. Direction of Proceedings and Waiver of Defaults by
Majority of Holders. 
 (a)    The Holders of a majority of the aggregate principal amount of the Notes at the
time outstanding shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee with respect to the Notes or the Guarantee;
provided, however, that (i) such direction shall not be in conflict with any rule of law or with this Indenture, and (ii) the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such
direction. The Trustee may refuse to follow any direction that conflicts with any rule of law or with this Indenture, it determines is unduly prejudicial to the rights of any other Holder (it being understood that the Trustee does not have an
affirmative duty to ascertain whether or not any such directions are unduly prejudicial to such Holders) or that would involve the Trustee in personal liability. 

(b)    The Holders of a majority in aggregate principal amount of the Notes at the time outstanding may on behalf of the
Holders of all of the Notes waive any past Default or Event of Default hereunder and rescind any acceleration with respect to the Notes and its consequences hereunder except: 

(i)    a default in the payment of the principal (including any Redemption Price and any Fundamental Change
Repurchase Price, if applicable) of, or accrued and unpaid interest, if any, on the Notes; 
 (ii)     a
failure by the Company to deliver the consideration due upon exchange of the Notes; or 
 (iii)    with
respect to a Default or Event of Default in respect of a covenant or provision hereof which under Article 10 cannot be modified or amended without the consent of each affected Holder; 

provided that, in the case of the rescission of any acceleration with respect to the Notes, (1) the rescission would not conflict with any
judgment or decree of a court of competent jurisdiction and (2) all existing Events of Default (other than the nonpayment of the principal of and interest on the Notes that have become due solely by such declaration of acceleration) have been
cured or waived and all amounts owing to the Trustee have been paid. 
 Whenever any Default or Event of Default hereunder shall have been waived as
permitted by this Section 6.09, said Default or Event of Default shall for all purposes of the Notes and this Indenture be deemed to have been cured and to be not continuing; but no such waiver shall extend to any subsequent or other Default or
Event of Default or impair any right consequent thereon. 

  
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 Section 6.10. Notice of Defaults. If a Default occurs and is continuing
and is actually known to a Responsible Officer of the Trustee (as provided in Section 7.02(j)), the Trustee shall send to all Holders as the names and addresses of such Holders appear upon the Note Register notice of such Default within 90 days
after it occurs or, if it is not actually known to a Responsible Officer of the Trustee at such time, promptly (and in any event within ten (10) Business Days) after it becomes actually known to a Responsible Officer. Except in the case of a
Default in the payment of principal of (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) or accrued and unpaid interest, if any, on any Note or a Default in the payment or delivery of the consideration due
upon exchange, the Trustee shall be protected in withholding such notice if and so long as the Trustee in good faith determines that the withholding of such notice is in the interests of the Holders. 

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

ARTICLE 7 

CONCERNING THE TRUSTEE 

Section 7.01. Duties and Responsibilities of Trustee. 

(a)    Prior to the occurrence of an Event of Default and after the curing or waiving of all Events of Default that may
have occurred: 
 (i)    the duties and obligations of the Trustee shall be determined solely by the
express provisions of this Indenture, and the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Indenture and no implied covenants or obligations shall be read into this
Indenture against the Trustee; and 
 (ii)    in the absence of gross negligence or willful misconduct on
the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished 

  
 39 

 
to the Trustee and conforming to the requirements of this Indenture; but, in the case of any such certificates or opinions that by any provisions hereof are specifically required to be furnished
to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of any such certificates and opinions, including
mathematical calculations or other facts stated therein). 
 (b)    In the event an Event of Default has occurred and is
continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of
such person’s own affairs. 
 (c)    No provision of this Indenture shall be construed to relieve the Trustee from
liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 

(i)    this subsection shall not be construed to limit the effect of subsection (a) of this Section;

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

(iii)    the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in
good faith in accordance with a written direction received by it pursuant to the terms hereof, or exercising any trust or power conferred upon the Trustee, under this Indenture; and 

(iv)    no provision of this Indenture shall require the Trustee to expend or risk its own funds or
otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity
against such risk or liability is not reasonably assured to it. 
 (d)    Whether or not therein provided, every
provision of this Indenture relating to the conduct or affecting the liability of, or affording protection to, the Trustee shall be subject to the provisions of this Section 7.01. 

Section 7.02. Certain Rights of the Trustee. 

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

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

  
 40 

 (c)    the Trustee may consult with counsel of its selection and require
an Opinion of Counsel and any advice of such counsel or Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or omitted by it hereunder in good faith and in accordance with such advice or Opinion
of Counsel; 
 (d)    the Trustee shall not be bound to make any investigation into the facts or matters stated in any
resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such
facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled, at a reasonable time on any Business Day, to examine the books, records and premises of the Company,
personally or by agent or attorney at the expense of the Company and shall incur no liability of any kind by reason of such inquiry or investigation; 

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

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

(g)    the Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties
hereunder; 
 (h)    the Trustee may request that the Company deliver a certificate setting forth the names of
individuals and/or titles of Officers authorized at such time to take specified actions pursuant to this Indenture; 

(i)    in no event shall the Trustee be liable for any special, indirect, punitive or consequential loss or damage of any
kind whatsoever (including but not limited to lost profits), even if the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action; 

(j)    except with respect to Section 4.01 hereof, the Trustee shall have no duty to inquire as to the performance of
the Company with respect to the covenants contained in Article 4 hereof, and the Trustee shall not be charged with knowledge of any Default or Event of Default with respect to the Notes, unless either (1) a Responsible Officer shall have actual
knowledge of such Default or Event of Default or (2) written notice of such Default or Event of Default shall have been given to a Responsible Officer of the Trustee by the Company or by any Holder of the Notes at the Corporate Trust Office of
the Trustee; 
 (k)    the Trustee shall not be liable in respect of any payment (as to the correctness of amount,
entitlement to receive or any other matters relating to payment) or notice effected by the Company or any Paying Agent (if other than the Trustee) or any records maintained by any co-Note Registrar with
respect to the Notes; 

  
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 (l)    if any party fails to deliver a notice relating to an event the
fact of which, pursuant to this Indenture, requires notice to be sent to the Trustee, the Trustee may conclusively rely on its failure to receive such notice as reason to act as if no such event occurred, unless such Responsible Officer of the
Trustee had actual knowledge of such event; 
 (m)    in the absence of written investment direction from the Company,
all cash received by the Trustee shall be placed in a non-interest bearing trust account, and in no event shall the Trustee be liable for the selection of investments or for investment losses, fees, taxes or
other charges incurred thereon or for losses incurred as a result of the liquidation of any such investment prior to its maturity date or the failure of the party directing such investments prior to its maturity date or the failure of the party
directing such investment to provide timely written investment direction, and the Trustee shall have no obligation to invest or reinvest any amounts held hereunder in the absence of such written investment direction from the Company; 

(n)    the rights and protections afforded to the Trustee pursuant to this Article 7 shall also be afforded to the Trustee
in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder; 

(o)    subject to this Article 7, if an Event of Default occurs and is continuing, the Trustee shall be under no
obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory
to the Trustee against any loss, liability and expense which might be incurred by it in compliance with such request or direction; 

(p)    the Trustee shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and
reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; and 

(q)    under no circumstances shall the Trustee be liable in its individual capacity for the obligations evidenced by the
Notes. 
 Section 7.03. No Responsibility for Recitals, Etc. The recitals contained herein and in the Notes (except in the
Trustee’s certificate of authentication) shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity or sufficiency of this
Indenture or of the Notes. The Trustee shall not be accountable for the use or application by the Company of any Notes or the proceeds of any Notes authenticated and delivered by the Trustee in conformity with the provisions of this Indenture. 

Section 7.04. Trustee, Paying Agents, Exchange Agents or Note Registrar May Own Notes. The Trustee, any Paying Agent, any
Exchange Agent, the Custodian or Note Registrar, in its individual or any other capacity, may become the owner or pledgee of Notes with the same rights it would have if it were not the Trustee, Paying Agent, Exchange Agent, Custodian or Note
Registrar. 

  
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 Section 7.05. Monies To Be Held in Trust. All monies received by the
Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received. Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law or as
expressly provided herein. The Trustee shall be under no liability for interest on any money received by it hereunder except as may be agreed from time to time by the Company and the Trustee. 

Section 7.06. Compensation and Expenses of Trustee. The Company covenants and agrees to pay to the Trustee from time to
time, and the Trustee shall be entitled to, such compensation for all services rendered by it hereunder in any capacity (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) as mutually
agreed to in writing between the Trustee and the Company, and the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances reasonably incurred or made by the Trustee in accordance with any of
the provisions of this Indenture in any capacity hereunder (including the reasonable compensation and the expenses and disbursements of its agents and counsel and of all Persons not regularly in its employ) except any such expense, disbursement or
advance as shall have been caused by the Trustee’s negligence or willful misconduct, as determined by a final, non-appealable judgment of a court of competent jurisdiction. The Company and the Guarantor,
jointly and severally, covenant to indemnify the Trustee (which for purposes of this Section 7.06 shall include its officers, directors, employees and agents) in any capacity under this Indenture and any other document or transaction entered
into in connection herewith and its agents and any authenticating agent for, and to hold them harmless against, any loss, claim, damage, liability or expense (including court costs and taxes other than taxes based on the income of the Trustee)
incurred without negligence or willful misconduct (as determined by a final, non-appealable judgment of a court of competent jurisdiction) on the part of the Trustee, its officers, directors, agents or
employees, or such agent or authenticating agent, as the case may be, and arising out of or in connection with the acceptance or administration of this Indenture or in any other capacity hereunder, including the costs and expenses of defending
themselves against any claim (whether asserted by the Company, a Holder or any other Person) or liability in connection with exercise or performance of any of their powers or duties hereunder or of enforcing this Indenture against the Company or the
Guarantor (including this Section 7.06). The obligations of the Company and the Guarantor under this Section 7.06 to compensate or indemnify the Trustee and to pay or reimburse the Trustee for expenses, disbursements and advances shall be
secured by a senior claim to which the Notes are hereby made subordinate on all money or property held or collected by the Trustee, except, subject to the effect of Section 6.05, funds held in trust herewith for the benefit of the Holders of
particular Notes. Such senior claim will survive the satisfaction and discharge of this Indenture. The Trustee’s right to receive payment of any amounts due under this Section 7.06 shall not be subordinate to any other liability or
indebtedness of the Company. The obligations of the Company and the Guarantor under this Section 7.06 shall survive the satisfaction and discharge of this Indenture, for any reason, including any termination or rejection hereof under any
Bankruptcy Law, final payment of the Notes and the earlier resignation, removal or replacement of the Trustee. The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld. The
indemnification provided in this Section 7.06 shall extend to the officers, directors, agents and employees of the Trustee. 

  
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 Without prejudice to any other rights available to the Trustee under applicable law, when
the Trustee and its agents and any authenticating agent incur expenses or render services after an Event of Default specified in Section 6.01(h) or Section 6.01(i) occurs, the expenses and the compensation for the services are intended to
constitute expenses of administration under any bankruptcy, insolvency or similar laws. 
 Section 7.07.
Officer’s Certificate as Evidence. Except as otherwise provided in Section 7.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be
proved or established prior to taking or omitting any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of gross negligence and willful misconduct on the part of the
Trustee, as determined by a final, non-appealable judgment of a court of competent jurisdiction, be deemed to be conclusively proved and established by an Officer’s Certificate delivered to the Trustee,
and such Officer’s Certificate, in the absence of gross negligence and willful misconduct on the part of the Trustee, as determined by a final, non-appealable judgment of a court of competent
jurisdiction, shall be full warrant to the Trustee for any action taken or omitted by it under the provisions of this Indenture upon the faith thereof. 

Section 7.08. Eligibility of Trustee. There shall at all times be a Trustee hereunder which shall be a Person that is
eligible pursuant to the Trust Indenture Act (as if the Trust Indenture Act were applicable hereto) to act as such and has a combined capital and surplus of at least $50,000,000. If such Person publishes reports of condition at least annually,
pursuant to law or to the requirements of any supervising or examining authority, then for the purposes of this Section 7.08, the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in
its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this
Article 7. 
 Section 7.09. Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from
the trust created hereby by giving written notice of such resignation to the Company and by mailing notice thereof to the Holders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company
shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor
trustee. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation to the Holders, the resigning Trustee may, at the expense of the Company, upon ten Business
Days’ notice to the Company and the Holders, petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder who has been a bona fide holder of a Note or Notes for at least six months may, subject to the
provisions of Section 6.11, on behalf of itself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe,
appoint a successor trustee. 

  
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 (a)    In case at any time any of the following shall occur: 

(i)    the Trustee shall fail to comply with Section 7.13 within a reasonable time after written
request therefor by the Company or by any Holder who has been a bona fide Holder of a Note or Notes for at least six (6) months; 

(ii)    the Trustee shall cease to be eligible in accordance with the provisions of Section 7.08 and
shall fail to resign after written request therefor by the Company or by any such Holder, or 

(iii)    the Trustee shall become incapable of acting, or shall be adjudged bankrupt or insolvent, or a
receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 

then, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed
by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 6.11, any Holder who has been a bona fide holder of a
Note or Notes for at least six months may, on behalf of itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after
such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. 

(b)    The Holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove
the Trustee and nominate a successor trustee that shall be deemed appointed as successor trustee unless within ten days after notice to the Company of such nomination the Company objects thereto. If no successor trustee shall have been so appointed
and have accepted appointment within 30 days after removal of the Trustee by the Holders, the Trustee may, at the expense of the Company, upon ten Business Days’ notice to the Company and the Holders, petition any court of competent
jurisdiction for the appointment of a successor trustee. 
 (c)    Any resignation or removal of the Trustee and
appointment of a successor trustee pursuant to any of the provisions of this Section 7.09 shall become effective upon (i) payment of all fees and expenses owing to the Trustee and (ii) acceptance of appointment by the successor
trustee as provided in Section 7.10. 
 Section 7.10. Acceptance by Successor Trustee. Any successor trustee
appointed as provided in Section 7.09 shall execute, acknowledge and deliver to the Company and to its predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee
shall become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, duties and obligations of its predecessor hereunder, with like effect as if originally named as Trustee
herein; but, nevertheless, on the written request of the Company or of the successor trustee, the predecessor trustee shall, upon payment of any amounts then due it pursuant to the provisions of Section 7.06, execute and deliver an instrument
transferring to such successor trustee all the rights and powers of the trustee so ceasing to act. Upon request of any such successor trustee, the Company shall execute any and all instruments in writing for more

  
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fully and certainly vesting in and confirming to such successor trustee all such rights and powers. Any trustee ceasing to act shall, nevertheless, retain a senior claim to which the Notes are
hereby made subordinate on all money or property held or collected by such trustee as such pursuant to this Indenture, except for funds held in trust for the benefit of Holders of particular Notes, to secure any amounts then due it pursuant to the
provisions of Section 7.06. 
 No successor trustee shall accept appointment as provided in this Section 7.10 unless at the time
of such acceptance such successor trustee shall be eligible under the provisions of Section 7.08. 
 Upon acceptance of appointment by
a successor trustee as provided in this Section 7.10, each of the Company and the successor trustee, at the written direction and at the expense of the Company shall send or cause to be sent notice of the succession of such trustee hereunder to
the Holders at their addresses as they shall appear on the Note Register. If the Company fails to mail such notice within ten days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be mailed
at the expense of the Company. 
 Section 7.11. Succession by Merger, Etc. Any corporation or other entity into which the
Trustee may be merged or converted or with which it may be consolidated, or any corporation or other entity resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation or other entity succeeding
to all or substantially all of the corporate trust business of the Trustee (including the administration of this Indenture), shall be the successor to the Trustee hereunder without the execution or filing of any paper or any further act on the part
of any of the parties hereto; provided that in the case of any corporation or other entity succeeding to all or substantially all of the corporate trust business of the Trustee such corporation or other entity shall be eligible under the
provisions of Section 7.08. 
 In case at the time such successor to the Trustee shall succeed to the trusts created by this Indenture,
any of the Notes shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee or authenticating agent appointed by such predecessor trustee, and deliver
such Notes so authenticated; and in case at that time any of the Notes shall not have been authenticated, any successor to the Trustee or an authenticating agent appointed by such successor trustee may authenticate such Notes either in the name of
any predecessor trustee hereunder or in the name of the successor trustee; and in all such cases such certificates of authentication shall have the full force which it is anywhere in the Notes or in this Indenture provided that the certificate of
authentication of the Trustee shall have; provided, however, that the right to adopt the certificate of authentication of any predecessor trustee or to authenticate Notes in the name of any predecessor trustee shall apply only to its
successor or successors by merger, conversion or consolidation. 
 Section 7.12. Trustee’s Application for
Instructions from the Company. Any application by the Trustee for written instructions from the Company (other than with regard to any action proposed to be taken or omitted to be taken by the Trustee that affects the rights of the
Holders of the Notes under this Indenture) may, at the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such
omission shall be effective. The Trustee shall not 

  
 46 

 
be liable for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application (which date shall not
be less than ten Business Days after the date any Officer actually receives such application, unless any such Officer shall have consented in writing to any earlier date), unless, prior to taking any such action (or the effective date in the case of
any omission), the Trustee shall have received written instructions in accordance with this Indenture in response to such application specifying the action to be taken or omitted. 

Section 7.13. Conflicting Interests of Trustee. If the Trustee has or shall acquire a conflicting interest within the
meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of this Indenture. 

Section 7.14. Limitation on Trustee’s Liability. Except as provided in this Article, in accepting the
trusts hereby created, the entities acting as Trustee are acting solely as Trustee hereunder and not in their individual capacity and, except as provided in this Article, all Persons having any claim against the Trustee by reason of the transactions
contemplated by this Indenture or any Note shall look only to the Company and the Guarantor for payment or satisfaction thereof. 
 ARTICLE 8

 CONCERNING THE HOLDERS 

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

Section 8.02. Proof of Execution by Holders. Subject to the provisions of Section 7.01 and Section 7.02, proof of
the execution of any instrument by a Holder or its agent or proxy shall be sufficient if made in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee. The
holding of Notes shall be proved by the Note Register or by a certificate of the Note Registrar. 
 Section 8.03. Who Are Deemed
Absolute Owners. The Company, the Trustee, any authenticating agent, any Paying Agent, any Exchange Agent and any Note Registrar may deem 

  
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the Person in whose name a Note shall be registered upon the Note Register to be, and may treat it as, the absolute owner of such Note (whether or not such Note shall be overdue and
notwithstanding any notation of ownership or other writing thereon made by any Person other than the Company or any Note Registrar) for the purpose of receiving payment of or on account of the principal of and (subject to Section 2.03) accrued
and unpaid interest on such Note, for exchange of such Note and for all other purposes; and neither the Company nor the Trustee nor any Paying Agent nor any Exchange Agent nor any Note Registrar shall be affected by any notice to the contrary. All
such payments or deliveries so made to any Holder, or upon its order, shall be valid, and, to the extent of the sums or shares of Common Stock so paid or delivered, effectual to satisfy and discharge the liability for monies payable or shares
deliverable upon any such Note. Notwithstanding anything to the contrary in this Indenture or the Notes following an Event of Default, any holder of a beneficial interest in a Global Note may directly enforce against the Company, without the
consent, solicitation, proxy, authorization or any other action of the Depositary or any other Person, such holder’s right to exchange such beneficial interest for a Note in certificated form in accordance with the provisions of this Indenture.

 Section 8.04. Company-Owned Notes Disregarded. In determining whether the Holders of the requisite aggregate principal
amount of Notes have concurred in any direction, consent, waiver or other action under this Indenture, Notes that are owned by the Company or by any Affiliate of the Company shall be disregarded (from both the numerator and the denominator) and
deemed not to be outstanding for the purpose of any such determination; provided that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, consent, waiver or other action only Notes that a
Responsible Officer actually knows are so owned shall be so disregarded. Notes so owned that have been pledged in good faith may be regarded as outstanding for the purposes of this Section 8.04 if the pledgee shall establish to the satisfaction
of the Trustee the pledgee’s right to so act with respect to such Notes and that the pledgee is not the Company or any Affiliate of the Company. In the case of a dispute as to such right, any decision by the Trustee taken upon the advice of
counsel shall be full protection to the Trustee. Upon request of the Trustee, the Company shall furnish to the Trustee promptly an Officer’s Certificate listing and identifying all Notes, if any, known by the Company to be owned or held by or
for the account of any of the above described Persons; and, subject to Section 7.01, the Trustee shall be entitled to accept such Officer’s Certificate as conclusive evidence of the facts therein set forth and of the fact that all Notes
not listed therein are outstanding for the purpose of any such determination. 
 Section 8.05. Revocation of Consents; Future
Holders Bound. At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the Holders of the percentage of the aggregate principal amount of the Notes specified in
this Indenture in connection with such action, any Holder of a Note that is shown by the evidence to be included in the Notes the Holders of which have consented to such action may, by filing written notice with the Trustee at its Corporate Trust
Office and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Note. Except as aforesaid, any such action taken by the Holder of any Note shall be conclusive and binding upon such Holder and upon all
future Holders and owners of such Note and of any Notes issued in exchange or substitution therefor or upon registration of transfer thereof, irrespective of whether any notation in regard thereto is made upon such Note or any Note issued in
exchange or substitution therefor or upon registration of transfer thereof. 

  
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 ARTICLE 9 

[RESERVED] 
 ARTICLE
10 
 SUPPLEMENTAL INDENTURES 

Section 10.01. Supplemental Indentures Without Consent of Holders. Notwithstanding Section 10.02, without the consent
of any Holder, the Company, the Guarantor and the Trustee may amend or supplement this Indenture, the Notes and the Guarantee to: 

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

(b)    provide for the assumption by a Successor Company or a Successor Guarantor, as the case may be, of the obligations
of the Company or the Guarantor, as applicable, under this Indenture, the Notes or the Guarantee in accordance with Article 11; 

(c)    add additional Guarantees with respect to the Notes; 

(d)    [Reserved]; 

(e)    secure the Notes or the Guarantee; 

(f)    add to the covenants or Events of Default of the Company or the Guarantor that the Guarantor’s Board of
Directors considers to be for the benefit of the Holders or make changes that would provide additional rights to Holders or surrender any right or power conferred upon the Company or the Guarantor; 

(g)    make any change that does not adversely affect the rights of any Holder, as determined by the Guarantor’s
Board of Directors and evidenced by a Board Resolution of the Guarantor delivered to the Trustee; 
 (h)    in
connection with any Specified Corporate Event, provide that the Notes are exchangeable for Reference Property, subject to Section 14.02, and make certain related changes to the terms of this Indenture and the Notes to the extent expressly
required by this Indenture; 
 (i)    evidence and provide for the acceptance of an appointment under this Indenture of
a successor Trustee; provided that the successor Trustee is otherwise qualified and eligible to act as such under the terms of this Indenture as set forth in an Officer’s Certificate; 

(j)    conform the provisions of this Indenture or the Notes to the “Description of Notes” section of the
Offering Memorandum; or 
 (k)    provide for the issuance of additional Notes in accordance with Section 2.10(a).

 The Trustee is hereby authorized to join with the Company and the Guarantor in the execution of any such amendment, supplement or waiver,
to make any further appropriate 

  
 49 

 
agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to, but may in its discretion, enter into any amendment, supplement or waiver that adversely
affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 Section 10.02. Supplemental
Indentures with Consent of Holders. Except as provided above in Section 10.01 and below in this Section 10.02, the Company, the Guarantor and the Trustee may from time to time and at any time amend or supplement this Indenture,
the Notes and the Guarantee with the consent (evidenced as provided in Article 8) of the Holders of at least a majority of the aggregate principal amount of the Notes then outstanding (determined in accordance with Article 8 and including, without
limitation, consents obtained in connection with a repurchase of, or tender or exchange offer for, Notes), and any existing Default or Event of Default (other than (i) a Default or Event of Default in the payment of the principal (including any
Redemption Price and any Fundamental Change Repurchase Price, if applicable) of, or accrued and unpaid interest, if any, on the Notes, except a payment default resulting from an acceleration that has been rescinded, and (ii) a Default or Event
of Default as a result of a failure by the Company to deliver the consideration due upon exchange of the Notes) or compliance with any provision of this Indenture, the Notes or the Guarantee may be waived with the consent (evidenced as provided in
Article 8) of the Holders of at least a majority of the aggregate principal amount of the Notes then outstanding (determined in accordance with Article 8 and including, without limitation, consents obtained in connection with a repurchase of, or
tender or exchange offer for, Notes); provided, however, that, without the consent of each Holder of an outstanding Note affected, no such amendment shall: 

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

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

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

(d)    reduce the amount of principal payable upon acceleration of the maturity of the Notes; 

(e)    impair or adversely affect the right of Holders to exchange Notes or otherwise modify the provisions with respect
to exchange, or reduce the Exchange Rate (subject to such modifications as are required under this Indenture); 

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

(g)    make any Note payable in a money, or at a place of payment, other than that stated in the Note; 

(h)    change the ranking of the Notes; 

(i)    amend the right of any Holder to institute suit for the enforcement of any payment of principal (including the
Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, accrued and unpaid interest, if any, on, and consideration due upon exchange of, its Notes, on or after the respective due dates expressed or provided for in this
Indenture; 

  
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 (j)    make any change in this Article 10 or in the waiver provisions
(including in Section 6.09), in each case, that requires each Holder’s consent; or 
 (k)    modify the
Guarantee in any manner adverse to the Holders. 
 Upon the written request of the Company, and upon the filing with the Trustee of evidence
of the consent of Holders as aforesaid and subject to Section 10.05, the Trustee shall join with the Company and the Guarantor in the execution of such amendment, supplement or waiver unless such amendment, supplement or waiver adversely
affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated to, enter into such amendment, supplement or waiver. 

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

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

Section 10.04. Notation on Notes. Notes authenticated and delivered after the execution of any amendment, supplement or
waiver to this Indenture pursuant to the provisions of this Article 10 may, at the Company’s expense, bear a notation in form approved by the Trustee as to any matter provided for in such amendment, supplement or waiver. If the Company or
the Trustee shall so determine, new Notes so modified as to conform, in the opinion of the Trustee and the Board of Directors of the Guarantor, to any modification of this Indenture contained in any such amendment, supplement or waiver may, at the
Company’s expense, be prepared and executed by the Company, authenticated by the Trustee (or an authenticating agent duly appointed by the Trustee pursuant to Section 17.11) and delivered in exchange for the Notes then outstanding, upon
surrender of such Notes then outstanding. Failure to make the appropriate notation or issue a new Note shall not affect the validity and effect of such amendment, supplement or waiver. 

Section 10.05. Evidence of Compliance of Amendment, Supplement or Waiver To Be Furnished To Trustee. In addition to the documents required
by Section 17.06, the Trustee shall receive 

  
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and may rely on an Officer’s Certificate and an Opinion of Counsel as conclusive evidence that any amendment, supplement or waiver to this Indenture executed pursuant hereto complies with
the requirements of this Article 10 and is permitted or authorized by this Indenture and is the legal, valid and binding obligation of the Company and the Guarantor party thereto, enforceable in accordance with its terms. 

ARTICLE 11 

CONSOLIDATION, MERGER AND SALE 

Section 11.01. The Guarantor May Consolidate, Etc. on Certain Terms. 

(a)    The Guarantor shall not consolidate with or merge with or into or otherwise combine with another Person, or sell,
lease or otherwise transfer or dispose of all or substantially all of its consolidated assets, taken as a whole, to another Person (other than, in the case of a sale, lease or other transfer or disposition, to one or more of the Guarantor’s
direct or indirect Subsidiaries), unless: 
 (i)    (1) the Guarantor is the surviving person or
(2) the resulting, surviving or transferee Person (if not the Guarantor) (the “Successor Guarantor”) (A) is a corporation organized and existing under the laws of the United States of America, any State thereof or the District
of Columbia, and (B) expressly assumes by a supplemental indenture or a supplemental agreement, as applicable, all of the Guarantor’s obligations under the Notes, this Indenture, the Guarantee and the Registration Rights Agreement, as the
case may be; and 
 (ii)    immediately after giving effect to such transaction, no Default or Event of
Default shall have occurred and be continuing under this Indenture. 
 For purposes of this Section 11.01, any sale, lease or other
transfer or disposition of the assets of one or more Subsidiaries of the Guarantor to another Person that would, if such assets were held directly by the Guarantor instead of such Subsidiaries, have constituted the sale, lease or other transfer or
disposition of all or substantially all of the Guarantor’s consolidated assets, taken as a whole, shall be deemed to be the sale, lease or other transfer or disposition of the assets of all or substantially all of the Guarantor’s
consolidated assets, taken as a whole, to another Person. 
 (b)    Upon any such consolidation, merger, combination,
sale, lease or other transfer or disposition and upon the assumption by the Successor Guarantor, by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the due and punctual payment of the
principal of and accrued and unpaid interest on all of the Notes, the due and punctual delivery and/or payment, as the case may be, of any consideration due upon exchange of the Notes and the due and punctual performance of all of the covenants and
conditions of this Indenture, the Notes, the Guarantee and the Registration Rights Agreement to be performed by the Guarantor, such Successor Guarantor (if not the Guarantor) shall succeed to, and may exercise every right and power of and be
substituted for, the Guarantor, with the same effect as if it had been named herein as the party of the first part, and the Guarantor shall be discharged from its obligations under the Notes, this Indenture and the Guarantee, except in the case of a
lease. 

  
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 Section 11.02. Company May Consolidate, Etc. on Certain Terms.

 (a)    The Company shall not consolidate with or merge with or into or otherwise combine with another Person, unless:

 (i)    (1) the Company is the surviving corporation or (2) the resulting or surviving Person (if
not the Company) (the “Successor Company”) (A) is a corporation, limited partnership, limited liability company or trust organized and existing under the laws of the United States of America, any State thereof or the District of
Columbia (provided that if the surviving Person is an entity that is disregarded as separate from its owner for U.S. federal income tax purposes, the owner shall fully and unconditionally guarantee all of the surviving Person’s
obligations under the Notes and this Indenture), and (B) expressly assumes by a supplemental indenture or a supplemental agreement, as applicable, all of the Company’s obligations under the Notes, this Indenture and the Registration Rights
Agreement, as the case may be; and 
 (ii)    immediately after giving effect to such transaction, no
Default or Event of Default shall have occurred and be continuing under this Indenture. 
 (b)    Upon any such
consolidation, merger or combination and upon the assumption by the Successor Company, by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the due and punctual payment of the principal of and
accrued and unpaid interest on all of the Notes, the due and punctual delivery and/or payment, as the case may be, of any consideration due upon exchange of the Notes and the due and punctual performance of all of the covenants and conditions of
this Indenture and the Notes to be performed by the Company, such Successor Company (if not the Company) shall succeed to, and may exercise every right and power of and be substituted for, the Company, with the same effect as if it had been named
herein as the party of the first part, and the Company shall be discharged from its obligations under the Notes and this Indenture. Such Successor Company (instead of the Company, if applicable) thereupon may cause to be signed, and may issue either
in its own name or in the name of the Company any or all of the Notes issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee; and, upon the order of such Successor Company instead of the Company
and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver, or cause to be authenticated and delivered, any Notes that previously shall have been signed and delivered by an
Officer of the Company to the Trustee for authentication, and any Notes that such Successor Company thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the Notes so issued shall in all respects have the same legal
rank and benefit under this Indenture as the Notes theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Notes had been issued at the date of the execution hereof. 

Section 11.03 Opinion of Counsel and Officer’s Certificate To Be Given to Trustee. In connection with any consolidation, merger,
combination or sale, lease or other transfer or disposition implicated by this Article 11, the Trustee shall not be required to take any action 

  
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unless the Trustee shall have received an Officer’s Certificate and an Opinion of Counsel, each stating that any such consolidation, merger, combination or sale, lease or other transfer or
disposition and any such assumption and such supplemental indenture (if any) complies with the provisions of this Article 11 and, if a supplemental indenture is required in connection with such transaction, an Opinion of Counsel, which shall state
that the Indenture, the Guarantee and the Notes, as applicable, constitute legal, valid and binding obligations of any Successor Guarantor or any Successor Company, as applicable, subject to customary exceptions. 

ARTICLE 12 

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

ARTICLE 13 

GUARANTEE 

Section 13.01. Guarantee. 

(a)    Subject to this Article 13, the Guarantor fully and unconditionally guarantees to each Holder of a Note
authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture, the Notes held thereby and the obligations of the Company hereunder and thereunder,
that: (i) the principal of and interest on the Notes will be promptly paid in full when due, subject to any applicable grace period, whether at the Maturity Date, by acceleration, upon redemption, upon repurchase or otherwise, and interest on
the overdue principal of and (to the extent permitted by law) interest on the Notes, and the Settlement Amounts upon exchange will be promptly paid and/or delivered in full when due upon exchange, and all other payment obligations of the Company to
the Holders or the Trustee hereunder or thereunder will be promptly paid in full and performed, all in accordance with the terms hereof and thereof; and (ii) in case of any extension of time of payment or renewal of any Notes or any of such
other obligations, the same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, subject to any applicable grace period, whether at the Maturity Date, by acceleration, upon

  
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redemption, upon repurchase or otherwise. Failing payment when so due of any amount so guaranteed for whatever reason, the Guarantor will be obligated to pay the same immediately. An Event of
Default with respect to the Notes under this Indenture shall constitute an event of default under the Guarantee, and shall entitle the Holders to accelerate the obligations of the Guarantor hereunder in the same manner and to the same extent as the
obligations of the Company. 
 (b)    The Guarantor hereby agrees that its obligations hereunder shall be unconditional,
irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder with respect to any provisions hereof or thereof, the recovery of any
judgment against the Company, any action to enforce the same or any other circumstance (other than complete performance) which might otherwise constitute a legal or equitable discharge or defense of the Guarantor. The Guarantor further, to the
extent permitted by law, hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and
all demands whatsoever and covenants that the Guarantee will not be discharged except by complete performance of the obligations contained in the Notes and this Indenture, or pursuant to Section 13.03. 

(c)    The Guarantor also agrees to pay any and all costs and expenses (including reasonable attorneys’ fees and
expenses) incurred by the Trustee or any Holder in enforcing any rights under this Section 13.01. 
 (d)    If any
Holder or the Trustee is required by any court or otherwise to return to the Company, the Guarantor, or any Custodian, Trustee or other similar official acting in relation to either the Company or the Guarantor, any amount paid by the Company or the
Guarantor to the Trustee or such Holder, the Guarantee to the extent theretofore discharged, shall be reinstated in full force and effect. 

(e)    The Guarantor further agrees that, as between the Guarantor, on the one hand, and the Holders and the Trustee, on
the other hand, (a) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article 6 of this Indenture for the purposes of the Guarantee, notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the obligations guaranteed thereby, and (b) in the event of any declaration of acceleration of such obligations as provided in Article 6 of this Indenture, such obligations (whether or not due and payable) shall
forthwith become due and payable by the Guarantor for the purpose of the Guarantee. 
 (f)    The Guarantee shall remain
in full force and effect and continue to be effective should any petition be filed by or against the Company for liquidation or reorganization, should the Company become insolvent or make an assignment for the benefit of creditors or should a
receiver or trustee be appointed for all or any significant part of the Company’s assets, and shall, to the fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any time payment and performance
of the Notes are, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee on the Notes or the Guarantee, whether as a “voidable preference,” “fraudulent transfer” or
otherwise, all as 

  
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though such payment or performance had not been made. In the event that any payment or any part thereof, is rescinded, reduced, restored or returned, the Notes shall, to the fullest extent
permitted by law, be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or returned. 

(g)    In case any provision of the Guarantee shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 (h)    Each payment
to be made by the Guarantor in respect of the Guarantee shall be made without set-off, counterclaim, reduction or diminution of any kind or nature. 

(i)    For the avoidance of doubt, the Guarantee with respect to a Note is not exchangeable and shall automatically
terminate when such Note is exchanged in accordance with this Indenture. 
 Section 13.02. Execution and Delivery. 

The Guarantee shall be evidenced by the execution and delivery of this Indenture or a supplement to this Indenture and no notation of the
Guarantee need be endorsed on any Note. The Guarantor hereby agrees that the Guarantee set forth in Section 13.01 shall remain in full force and effect notwithstanding the absence of the endorsement of any notation of the Guarantee on the
Notes. 
 If an Officer whose signature is on this Indenture no longer holds that office at the time the Trustee authenticates the Note, the
Guarantee shall be valid nevertheless. 
 The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall
constitute due delivery of the Guarantee set forth in this Indenture on behalf of the Guarantor. 
 Section 13.03. Release of
the Guarantee. 
 The Guarantee shall be automatically and unconditionally released and discharged under this Indenture upon the
discharge of the Company’s obligations under this Indenture in accordance with the terms of this Indenture. 
 At the request of the
Company and upon delivery of an Officer’s Certificate and Opinion of Counsel, the Trustee shall execute any documents reasonably requested by the Company in order to evidence the release of the Guarantor from its obligations under the
Guarantee. 
 Section 13.04. Limitation on Guarantor Liability. 

The Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that the Guarantee not
constitute a fraudulent conveyance or a fraudulent transfer for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to the Guarantee. To
effectuate the foregoing intention, the Trustee, the Holders and the Guarantor hereby irrevocably agree that the obligations of the Guarantor under the Guarantee 

  
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will be limited to the maximum amount as will, after giving effect to all other contingent and fixed liabilities of the Guarantor and result in the obligations of the Guarantor under the
Guarantee not constituting a fraudulent conveyance or fraudulent transfer under federal or state law and not otherwise being void or voidable under any similar laws affecting the rights of creditors generally. 

Section 13.05. Subrogation. 

The Guarantor shall be subrogated to all rights of Holders against the Company in respect of any amounts paid by the Guarantor pursuant to the
provisions of Section 13.01; provided that, if an Event of Default has occurred and is continuing, no Guarantor shall be entitled to enforce or receive any payments arising out of, or based upon, such right of subrogation until all
amounts then due and payable by the Company under this Indenture or the Notes shall have been paid in full. 
 Section 13.06.
Benefits Acknowledged. 
 The Guarantor acknowledges that it will receive benefits from the financing arrangements contemplated by
this Indenture and that the guarantee and waivers made by it pursuant to the Guarantee are knowingly made in contemplation of such benefits. 

Section 13.07. [Reserved]. 

Section 13.08. “Trustee” to Include Paying Agent. 

In case at any time any Paying Agent other than the Trustee shall have been appointed by the Company and be then acting hereunder, the term
“Trustee” as used in this Article 13 shall in each case (unless the context shall otherwise require) be construed as extending to, and including, such Paying Agent within its meaning as fully and for all intents and purposes as if such
Paying Agent were named in this Article 13 in place of the Trustee. 
 ARTICLE 14 

EXCHANGE OF NOTES 

Section 14.01. Exchange Privilege. 

(a)    Subject to and upon compliance with the provisions of this Article 14, each Holder of a Note shall have the right,
at such Holder’s option, to exchange all or any portion in an Authorized Denomination of such Note: 

(i)    subject to satisfaction of the conditions described in Section 14.01(b), at any time prior to
the close of business on the Business Day immediately preceding August 15, 2024 under the circumstances and during the periods set forth in Section 14.01(b); 

(ii)    on or after August 15, 2024, at any time prior to the close of business on the second
Scheduled Trading Day immediately preceding the Maturity Date; 

  
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 in each case, at an initial exchange rate of 24.4666 shares of Common Stock (subject to adjustment as
provided in Section 14.04 and, if applicable, Section 14.03 or Section 16.06, the “Exchange Rate”) per $1,000 principal amount of Notes (subject to the settlement provisions of Section 14.02, the
“Exchange Obligation”). 
 (b)    (i) Prior to the close of business on the Business Day immediately
preceding August 15, 2024, a Holder may surrender all or any portion of its Notes in an Authorized Denomination for exchange at any time during the five Business Day period after any ten consecutive Trading Day period (the “Measurement
Period”) in which the Trading Price per $1,000 principal amount of Notes, as determined following a request by a Holder of Notes in accordance with the procedures and conditions described below in this subsection (b)(i), for each Trading
Day of the Measurement Period was less than 98% of the product of the Last Reported Sale Price per share of Common Stock and the Exchange Rate on each such Trading Day. 

(A)    The Bid Solicitation Agent (if other than the Company) shall have no obligation to determine the
Trading Price per $1,000 principal amount of the Notes unless the Company has requested such determination, and the Company shall have no obligation to make such request (or, if the Company is acting as Bid Solicitation Agent, the Company shall have
no obligation to determine the Trading Price) unless a Holder of at least $1,000,000 principal amount of Notes requests in writing that the Company makes such a determination and provides the Company with reasonable evidence that the Trading Price
per $1,000 principal amount of Notes would be less than 98% of the product of the Last Reported Sale Price per share of Common Stock and the Exchange Rate on such Trading Day. At such time, the Company shall instruct the Bid Solicitation Agent (if
other than the Company) to determine, or if the Company is acting as Bid Solicitation Agent, the Company shall determine, the Trading Price per $1,000 principal amount of the Notes beginning on the next Trading Day following the receipt of such
evidence and on each successive Trading Day until the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price per share of Common Stock and the Exchange Rate on such Trading
Day. 
 (B)    If the Trading Price condition has been met, the Company shall promptly so notify the
Holders, the Trustee and the Exchange Agent (if other than the Trustee) in writing. If, at any time after the Trading Price condition has been met, the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product
of the Last Reported Sale Price per share of Common Stock and the Exchange Rate on such Trading Day, the Company shall promptly so notify the Holders, the Trustee and the Exchange Agent (if other than the Trustee) in writing. 

(C)    If the Company does not, when it is required to, instruct the Bid Solicitation Agent to (or, if the
Company is acting as Bid Solicitation Agent, it does not) obtain bids, or if the Company gives such instruction to the Bid Solicitation Agent and the Bid Solicitation Agent fails to make such determination (or, if the Company is acting as Bid
Solicitation Agent, it fails to 

  
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make such determination), then, in either case, the Trading Price per $1,000 principal amount of the Notes shall be deemed to be less than 98% of the product of the Last Reported Sale Price per
share of Common Stock and the Exchange Rate on each Trading Day of such failure. 
 (ii)    If, prior to
the close of business on the Business Day immediately preceding August 15, 2024, the Guarantor elects to: 

(A)    issue to all or substantially all holders of Common Stock any rights, options or warrants (other
than any issuance pursuant to a shareholder’s rights agreement or rights plan) entitling them, for a period of not more than 60 calendar days after the announcement date of such issuance, to subscribe for or purchase shares of 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 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such
issuance; or 
 (B)    distribute to all or substantially all holders of Common Stock assets, securities
or rights, options or warrants to purchase securities (in each case, other than any distribution pursuant to a shareholder’s rights agreement or rights plan), which distribution has a per share value, as reasonably determined by the
Guarantor’s Board of Directors, exceeding 10% of the Last Reported Sale Price per share of Common Stock on the Trading Day immediately preceding the date of announcement of such distribution, 

then, in either case, the Company shall notify all Holders of the Notes, the Trustee and the Exchange Agent (if other than the Trustee) at least 50 Scheduled
Trading Days prior to the Ex-Dividend Date for such issuance or distribution. Once the Company has given such notice, the Holders may surrender all or any portion of their Notes in an Authorized Denomination
for exchange at any time until the earlier of (1) the close of business on the Business Day immediately preceding the Ex-Dividend Date for such issuance or distribution and (2) the Guarantor’s
announcement that such issuance or distribution will not take place. 
 No Holder may exchange any of its Notes pursuant to this
Section 14.01(b)(ii) if such Holder otherwise participates in such issuance or distribution, at the same time and upon the same terms as holders of the Common Stock and as a result of holding Notes, without having to exchange its Notes as if
such Holder held a number of shares of Common Stock equal to (x) the applicable Exchange Rate multiplied by (y) the principal amount (expressed in thousands) of Notes held by such Holder. 

(iii)    If, prior to the close of business on the Business Day immediately preceding August 15, 2024:

 (A)    a transaction or event that constitutes a Fundamental Change occurs; 

(B)    a transaction or event that constitutes a Make-Whole Fundamental Change occurs; or 

  
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 (C)    the Guarantor is a party to a consolidation,
merger or other combination, statutory share exchange or sale, lease or other transfer or disposition of all or substantially all of the Guarantor’s consolidated assets, taken as a whole, in each case, pursuant to which the Common Stock would
be exchanged for stock, other securities, other property or assets (including cash or any combination thereof), 
 then, in each case, the Holders may
surrender all or any portion of their Notes in an Authorized Denomination for exchange at any time from or after the open of business on the Business Day immediately following the day the Guarantor publicly announces such transaction (even if such
transaction has not yet occurred) until the close of business on the 35th Trading Day immediately following the actual effective date of such transaction or, if such transaction constitutes a Fundamental Change (other than a Fundamental Change for
which the Company validly invokes the Adequate Cash Exchange Provisions), until the close of business on the Business Day immediately preceding the related Fundamental Change Repurchase Date. 

The Company shall notify Holders, the Trustee and the Exchange Agent (if other than the Trustee) in writing of the effective date of any such
transaction as promptly as practicable following the date the Guarantor publicly announces such transaction, and the Company shall use commercially reasonable efforts to notify Holders in writing prior to such effective date, if practicable. 

(iv)    Prior to the close of business on the Business Day immediately preceding August 15, 2024, a
Holder may surrender all or any portion of its Notes in an Authorized Denomination for exchange at any time during any calendar quarter commencing after the calendar quarter ending on June 30, 2020 (and only during such calendar quarter), if
the Last Reported Sale Price per share of Common Stock for at least 20 Trading Days (whether or not consecutive) during the period of 30 consecutive Trading Days ending on the last Trading Day of the immediately preceding calendar quarter is greater
than or equal to 130% of the Exchange Price on each applicable Trading Day. The Company shall determine whether the Notes are exchangeable because the condition in this Section 14.01(b)(iv) is met and promptly provide written notice to the
Holders, the Trustee and the Exchange Agent (if other than the Trustee). 
 (v)    If the Company calls
the Notes for Optional Redemption pursuant to Section 16.01, Holders may exchange any or all of their Notes called for Optional Redemption at any time from, and including, the Redemption Notice Date until the close of business on the second
Scheduled Trading Day immediately preceding the Optional Redemption Date, or, if the Company fails to pay the Redemption Price, such later date on which the Company pays or duly provides for the Redemption Price. Notwithstanding the foregoing, if
the Company shall call less than all outstanding Notes for Optional Redemption and a Holder (including, for this purpose, the owner of a beneficial interest in a Global Note) is not able to reasonably determine, prior to the close of business on the
second Scheduled Trading Day immediately preceding the related Optional Redemption Date, whether the Notes owned by such Holder (or beneficially owned by such owner of a beneficial interest, as applicable) are subject to a partial redemption (and,
as a result thereof, exchangeable in accordance with the provisions of the Indenture as set forth 

  
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above) for any reason, then such Holder (or such owner of a beneficial interest, as applicable) shall be entitled to exchange such Notes after the date of the Redemption Notice until the close of
business on the second Scheduled Trading Day immediately preceding the Optional Redemption Date, regardless of whether such Notes (or such beneficial interests, as applicable) are subject to such partial redemption, and any such exchange will be
deemed to be of a Note called for redemption for purpose of the provisions of the Indenture set forth in Section 16.06. 

Section 14.02. Exchange Procedure; Settlement Upon Exchange. 

(a)    Subject to this Section 14.02, Section 14.03(b) and Section 14.07(a), upon exchange of any Note, the
Company shall, at its election, pay or deliver, as the case may be, to the exchanging Holder, in full satisfaction of its Exchange Obligation, cash (“Cash Settlement”), shares of Common Stock (“Physical Settlement”)
or a combination of cash and shares of Common Stock (“Combination Settlement”), as set forth in this Section 14.02. 

(i)    All exchanges for which the relevant Exchange Date occurs on or after August 15, 2024, and all
exchanges occurring after the date of the Company’s issuance of a Notice of Optional Redemption and prior to the close of business on the second Scheduled Trading Day immediately preceding the related Optional Redemption Date, shall be settled
using the same Settlement Method (including the same relative proportion of cash and/or shares of Common Stock). Except for any exchanges for which the relevant Exchange Date occurs on or after August 15, 2024, or after the date of the
Company’s issuance of a Notice of Optional Redemption and prior to the close of business on the second Scheduled Trading Day immediately preceding the related Optional Redemption Date, the Company shall use the same Settlement Method (including
the same relative proportion of cash and/or shares of Common Stock) for all exchanges with the same Exchange Date, but the Company shall not have any obligation to use the same Settlement Method with respect to exchanges with different Exchange
Dates. The Company may at any time prior to August 15, 2024 irrevocably elect to settle all conversions following such election through Combination Settlement with a Specified Dollar Amount. 

(ii)    If the Company elects a Settlement Method, the Company shall deliver notice to Holders through the
Exchange Agent of such Settlement Method the Company has selected no later than the close of business on the second VWAP Trading Day immediately following the related Exchange Date (or (i) in the case of any exchanges for which the relevant
Exchange Date occurs on or after August 15, 2024, no later than August 15, 2024 or (ii) in the case of any exchanges occurring after the date of issuance of a Notice of Optional Redemption and prior to the close of business on the
second Scheduled Trading Day immediately preceding the related Optional Redemption Date, in such Notice of Optional Redemption). If the Company does not timely elect a Settlement Method, the Company shall no longer have the right to elect Cash
Settlement or Combination Settlement with respect to that Exchange Date and the Company shall be deemed to have elected Physical Settlement in respect of its Exchange Obligation. If the 

  
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Company elects Combination Settlement in respect of any exchange but does not specify in its election a Specified Dollar Amount per $1,000 principal amount of Notes, or the Company is deemed to
have elected Combination Settlement, the Specified Dollar Amount shall be deemed to be $1,000. 

(iii)    The cash, shares of Common Stock or combination of cash and shares of Common Stock payable or
deliverable by the Company in respect of any exchange of Notes (the “Settlement Amount”) shall be computed by the Company as follows: 

(A)    if the Company elects (or is deemed to have elected) to satisfy its Exchange Obligation in respect
of such exchange by Physical Settlement, the Company shall deliver to the exchanging Holder in respect of each $1,000 principal amount of Notes being exchanged a number of shares of Common Stock equal to the Exchange Rate on the Exchange Date (plus
cash in lieu of any fractional shares of Common Stock deliverable upon exchange); 
 (B)    if the
Company elects to satisfy its Exchange Obligation in respect of such exchange by Cash Settlement, the Company shall pay to the exchanging Holder in respect of each $1,000 principal amount of Notes being exchanged cash in an amount equal to the sum
of the Daily Exchange Values for each of the 45 consecutive VWAP Trading Days during the related Observation Period; and 

(C)    if the Company elects to satisfy its Exchange Obligation in respect of such exchange by Combination
Settlement, the Company shall pay or deliver, as the case may be, to the exchanging Holder in respect of each $1,000 principal amount of Notes being exchanged a Settlement Amount equal to the sum of the Daily Settlement Amounts for each of the 45
consecutive VWAP Trading Days during the related Observation Period (plus cash in lieu of any fractional shares of Common Stock deliverable upon exchange). 

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

(iv)    The Daily Settlement Amounts (if applicable) and the Daily Exchange Values (if applicable) shall be
determined by the Company promptly following the last VWAP Trading Day of the related Observation Period. Promptly after such determination of the Daily Settlement Amounts or the Daily Exchange Values, as the case may be, and, if applicable, the
amount of cash payable in lieu of any fractional shares, the Company shall notify the Trustee and the Exchange Agent (if other than the Trustee) of the Daily Settlement Amounts or the Daily Exchange Values, as the case may be, and, if applicable,
the amount of cash payable in lieu of fractional shares. The Trustee and the Exchange Agent (if other than the Trustee) shall have no responsibility for any such determination. 

  
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 (b)    (i) To exchange a beneficial interest in a Global Note (which
exchange is irrevocable), the holder of such beneficial interest must: 
 (A)    comply with the
Applicable Procedures for exchanging a beneficial interest in a Global Note; 
 (B)    if required, pay
all transfer or similar taxes; and 
 (C)    if required, pay funds equal to any interest payable on the
next Interest Payment Date to which such Holder is not entitled as set forth in Section 14.02(g); and 

(ii)    To exchange a Certificated Note, the Holder must: 

(A)    complete, manually sign and deliver an irrevocable notice to the Exchange Agent as set forth in the
Form of Notice of Exchange (or a facsimile thereof) (a “Notice of Exchange”) and such Note to the Exchange Agent; 

(B)    if required, furnish appropriate endorsements and transfer documents; 

(C)    if required, pay all transfer or similar taxes; and 

(D)    if required, pay funds equal to any interest payable on the next Interest Payment Date to which such
Holder is not entitled as set forth in Section 14.02(g). 
 The Trustee (and if different, the Exchange Agent) shall notify the Company
of any exchange pursuant to this Article 14 on the Exchange Date for such exchange. 
 If a Holder has already delivered a Fundamental
Change Repurchase Notice with respect to a Note, such Holder may not surrender such Note for exchange until such Holder has validly withdrawn such Fundamental Change Repurchase Notice (or, in the case of a Global Note, has complied with the
Applicable Procedures with respect to such a withdrawal) in accordance with the terms of Section 15.03. If a Holder has already delivered a Fundamental Change Repurchase Notice, such Holder’s right to withdraw such notice and exchange the
Notes that are subject to repurchase will terminate at the close of business on the Business Day immediately preceding the relevant Fundamental Change Repurchase Date. If the Company has designated an Optional Redemption Date pursuant to
Section 16.02, a Holder that complies with the requirements for exchange set forth in this Section 14.02(b) shall be deemed to have delivered a notice of its election not to have its Notes so redeemed. 

(c)    A Note shall be deemed to have been exchanged immediately prior to the close of business on the date (the
“Exchange Date”) that the Holder has complied with the requirements set forth in Section 14.02(b) above. 

  
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 Subject to the provisions of Section 14.03(b) and Section 14.07(a), the Company
shall pay or deliver, as the case may be, the Settlement Amount due in respect of the Exchange Obligation on: 

(i)    the second Business Day immediately following the relevant Exchange Date, if the Company elects (or
is deemed to elect) Physical Settlement; or 
 (ii)    the second Business Day immediately following the
last VWAP Trading Day of the relevant Observation Period, if the Company elects Cash Settlement or Combination Settlement, 
 provided that with
respect to exchanges for which Physical Settlement is applicable and the relevant Exchange Date occurs after the Regular Record Date immediately preceding the Maturity Date, such settlement shall occur on the Maturity Date (or, if the Maturity Date
is not a Business Day, on the next succeeding Business Day). 
 If any shares of Common Stock are due to exchanging Holders, the Company
shall issue or cause to be issued, and deliver to such Holder, or such Holder’s nominee or nominees, certificates or a book-entry transfer through the Depositary, as the case may be, for the full number of shares of Common Stock to which such
Holder shall be entitled in satisfaction of the Company’s Exchange Obligation. 
 (d)    In case any Certificated
Note shall be surrendered for partial exchange, in an Authorized Denomination, the Company shall execute and the Trustee shall authenticate and deliver to or upon the written order of the Holder so surrendered a new Note or Notes in an Authorized
Denomination in an aggregate principal amount equal to the unexchanged portion of the surrendered Note, without payment of any service charge by the exchanging Holder but, if required by the Company or Trustee, with payment of a sum sufficient to
cover any transfer tax or similar governmental charge required by law or that may be imposed in connection therewith as a result of the name of the Holder of the new Notes issued upon such exchange being different from the name of the Holder of the
old Notes surrendered for such exchange. 
 (e)    If a Holder submits a Note for exchange, the Company shall pay any
documentary, stamp or similar issue or transfer tax due on the issuance or delivery of any shares of Common Stock upon exchange of such Note, unless the tax is due because the Holder requests such shares of Common Stock to be issued in a name other
than the Holder’s name, in which case the Holder shall pay that tax. 
 (f)    Upon the exchange of an interest in
a Global Note, the Trustee, or the Custodian of the Global Note at the direction of the Trustee, shall make a notation in the books and records of the Trustee and Depositary as to the reduction in the principal amount represented thereby. The
Company shall notify the Trustee in writing of any exchange of Notes effected through any Exchange Agent other than the Trustee. 

(g)    Upon exchange of a Note, the exchanging Holder shall not receive any separate cash payment representing accrued and
unpaid interest, if any, except as set forth in the paragraph below. The Company’s payment or delivery, as the case may be, of the Settlement Amount upon exchange of any Note shall be deemed to satisfy in full its obligation to pay the

  
 64 

 
principal amount of the Note and accrued and unpaid interest, if any, to, but not including, the relevant Exchange Date. As a result, accrued and unpaid interest, if any, to, but not including,
the relevant Exchange Date shall be deemed to be paid in full rather than cancelled, extinguished or forfeited. Upon an exchange of Notes into a combination of cash and shares of Common Stock, accrued and unpaid interest shall be deemed to be paid
first out of the cash paid upon such exchange. 
 Notwithstanding the immediately preceding paragraph, if Notes are exchanged after the
close of business on a Regular Record Date for the payment of interest, but prior to the open of business on the immediately following Interest Payment Date, Holders of such Notes at the close of business on such Regular Record Date shall receive
the full amount of interest payable on such Notes on the corresponding Interest Payment Date notwithstanding the exchange. Notes surrendered for exchange during the period from the close of business on any Regular Record Date to the open of business
on the immediately following Interest Payment Date must be accompanied by funds equal to the amount of interest payable on the Notes so exchanged on the corresponding Interest Payment Date (regardless of whether the exchanging Holder was the Holder
of record on the corresponding Regular Record Date); provided that no such payment need be made: 

(i)    if the Notes are surrendered for exchange following the Regular Record Date immediately preceding
the Maturity Date; 
 (ii)    if the Notes are subject to an Optional Redemption by the Company on an
Optional Redemption Date that is after a Regular Record Date and on or prior to the Business Day immediately following the corresponding Interest Payment Date; 

(iii)    if the Company has specified a Fundamental Change Repurchase Date that is after a Regular Record
Date and on or prior to the Business Day immediately following the corresponding Interest Payment Date; or 

(iv)    to the extent of any overdue interest, if any overdue interest exists at the time of exchange with
respect to such Note. 
 Therefore, for the avoidance of doubt, all Holders of record on the Regular Record Date immediately preceding the
Maturity Date, any Optional Redemption Date as described in clause (ii) above and any Fundamental Change Repurchase Date as described in clause (iii) above shall receive and retain the full interest payment due on the Maturity Date or
other applicable Interest Payment Date regardless of whether their Notes have been exchanged following such Regular Record Date. 

(h)    The Person in whose name any shares of Common Stock delivered upon exchange is registered shall become the holder
of record of such shares of Common Stock as of the close of business on (i) the relevant Exchange Date if the Company elects (or is deemed to elect) Physical Settlement or (ii) the last VWAP Trading Day of the relevant Observation Period
if the Company elects Combination Settlement. Upon an exchange of Notes, such Person shall no longer be a Holder of such Notes surrendered for exchange; provided that (a) the exchanging Holder shall have the right to receive the
Settlement Amount due upon exchange and (b) in the 

  
 65 

 
case of an exchange between a Regular Record Date and the corresponding Interest Payment Date, the Holder of record as of the close of business on such Regular Record Date shall have the right to
receive the interest payable on such Interest Payment Date, in accordance with Section 14.02(g). 
 (i)    The
Company shall not deliver any fractional shares of Common Stock upon exchange of the Notes and shall instead pay cash in lieu of any fractional shares of Common Stock deliverable upon exchange in an amount based on (i) the Daily VWAP on the
relevant Exchange Date if the Company elects (or is deemed to elect) Physical Settlement or (ii) the Daily VWAP on the last VWAP Trading Day of the relevant Observation Period if the Company elects Combination Settlement. For each Note
surrendered for exchange, if the Company has elected Combination Settlement, the full number of shares of Common Stock that shall be issued upon exchange thereof shall be computed on the basis of the aggregate Daily Settlement Amounts for the
relevant Observation Period and, if applicable, any fractional shares of Common Stock remaining after such computation shall be paid in cash. 

(j)    Upon surrender by a Holder of its Notes for exchange, the Company may, at its election (an “Exchange
Election”), direct the Exchange Agent to surrender, on or prior to the scheduled Trading Day immediately preceding the first VWAP Trading Day of the applicable Observation Period (or, if the Company has elected (or is deemed to have
elected) Physical Settlement, on or prior to the Business Day immediately following the relevant Exchange Date), such Notes to a financial institution designated by the Company (the “Designated Financial Institution”) for third
party exchange in lieu of exchange by the Company. In order to accept any Notes surrendered to the Company for exchange, the Designated Financial Institution must agree to pay and/or deliver, as the case may be, in exchange for such Notes, all of
the cash, shares of Common Stock or combination thereof due upon exchange, all as provided in Section 14.02(a) (the “Exchange Consideration”). By the close of business on the scheduled Trading Day immediately preceding the
first VWAP Trading Day of the applicable Observation Period (or, if the Company has elected (or is deemed to have elected) Physical Settlement, by the close of business on the Business Day immediately following the relevant Exchange Date), the
Company shall notify the Holder surrendering Notes for exchange that the Company has directed the Designated Financial Institution to make a third party exchange in lieu of an exchange by the Company. 

If the Designated Financial Institution accepts any Notes as described above, it will pay and/or deliver, as the case may be, the cash, shares
of Common Stock or a combination thereof due upon exchange to such Holder on the second Business Day immediately following the last VWAP Trading Day of the applicable Observation Period (or, if the Company has elected (or is deemed to have elected)
Physical Settlement, on the second Business Day immediately following the relevant Exchange Date; provided that with respect to exchanges for which Physical Settlement is applicable and the relevant Exchange Date occurs after the Regular
Record Date immediately preceding the Maturity Date, such settlement shall occur on the Maturity Date (or, if the Maturity Date is not a Business Day, on the next succeeding Business Day)). Any Notes exchanged by the Designated Financial Institution
shall remain outstanding. If the Designated Financial Institution agrees to accept any Notes for exchange but does not timely pay and/or deliver the related cash, shares of Common Stock or a combination thereof, as the case may be, or if such
Designated Financial Institution does not accept the Notes for 

  
 66 

 
exchange, the Company shall exchange the Notes and pay and/or deliver, as the case may be, the cash, shares of Common Stock or a combination thereof due upon exchange on the second Business Day
immediately following the last VWAP Trading Day of the applicable Observation Period (or, if the Company has elected (or is deemed to have elected) Physical Settlement, on the second Business Day immediately following the relevant Exchange Date) as
described in Section 14.02. 
 The Company’s designation of a Designated Financial Institution does not require such Designated
Financial Institution to accept any Notes (unless such Designated Financial Institution has separately made an agreement with the Company). The Company may, but shall not be obligated to, enter into a separate agreement with any Designated Financial
Institution that would compensate it for any such transaction. 
 Section 14.03. Increase in Exchange Rate Upon Exchange in
Connection with a Make-Whole Fundamental Change. (a) If the Effective Date of a Make-Whole Fundamental Change occurs prior to the Maturity Date and a Holder elects to exchange its Notes in connection with such Make-Whole Fundamental
Change, the Company shall, under the circumstances described below, increase the Exchange Rate for the Notes so surrendered for exchange by a number of additional shares of Common Stock (the “Additional Shares”), as described below.
An exchange of Notes shall be deemed for these purposes to be “in connection with” such Make-Whole Fundamental Change if the relevant Exchange Date occurs during the period from the open of business on the Effective Date of the Make-Whole
Fundamental Change to the close of business on the Business Day immediately preceding the related Fundamental Change Repurchase Date (or in the case of (i) a Make-Whole Fundamental Change that would have been a Fundamental Change but for
(x) the proviso in clause (b) of the definition thereof or (y) the Adequate Cash Exchange Provisions and (ii) any Event of Default described in Section 6.01(l), the 35th Trading Day immediately following the Effective Date
of such Make-Whole Fundamental Change)(such period, the “Make-Whole Fundamental Change Period”). 

(b)    Upon surrender of Notes for exchange in connection with a Make-Whole Fundamental Change, the Company shall, at its
option, satisfy its Exchange Obligation by Physical Settlement, Cash Settlement or Combination Settlement in accordance with Section 14.02 (after giving effect to any increase in the Exchange Rate required by this Section 14.03);
provided, however, that, if the consideration for the Common Stock in any Make-Whole Fundamental Change described in clause (b) of the definition of Fundamental Change is composed entirely of cash, for any exchange of Notes
following the Effective Date of such Make-Whole Fundamental Change, the Exchange Obligation shall be calculated based solely on the Stock Price for the transaction and shall be deemed to be an amount of cash per $1,000 principal amount of exchanged
Notes equal to (i) the Exchange Rate (including any increase to reflect the Additional Shares as described in this Section 14.03), multiplied by (ii) such Stock Price. In such event, the Exchange Obligation shall be determined
and paid to Holders in cash on the second Business Day following the Exchange Date. The Company shall notify Holders, the Trustee and the Exchange Agent (if other than the Trustee) in writing of the Effective Date of any Make-Whole Fundamental
Change and the Guarantor will issue a press release announcing such Effective Date and publish the information on its website or through such other public medium as the Guarantor may use at that time no later than five Business Days after such
Effective Date (the “Make-Whole Fundamental Change Company Notice”). 

  
 67 

 (c)    The number of Additional Shares, if any, by which the Exchange
Rate shall be increased shall be determined by reference to the table below, based on the date on which the Make-Whole Fundamental Change occurs or becomes effective (the “Effective Date”) and the price (the “Stock
Price”) paid (or deemed to be paid) per share of Common Stock in the Make-Whole Fundamental Change. If the holders of the Common Stock receive in exchange for their Common Stock only cash in a Make-Whole Fundamental Change described in
clause (b) of the definition of Fundamental Change, the Stock Price shall be the cash amount paid per share. Otherwise, the Stock Price shall be the average of the Last Reported Sale Prices per share of the Common Stock over the five Trading
Day period ending on, and including, the Trading Day immediately preceding the Effective Date of the Make-Whole Fundamental Change. 

(d)    The Stock Prices set forth in the column headings of the table below shall be adjusted as of any date on which the
Exchange Rate is otherwise adjusted. The adjusted Stock Prices shall equal (i) the Stock Prices applicable immediately prior to such adjustment, multiplied by (ii) a fraction, the numerator of which is the Exchange Rate immediately
prior to such adjustment giving rise to the Stock Price adjustment and the denominator of which is the Exchange Rate as so adjusted. The number of Additional Shares set forth in the table below shall be adjusted in the same manner and at the same
time as the Exchange Rate as set forth in Section 14.04. 
 (e)    The following table sets forth the number of
Additional Shares by which the Exchange Rate shall be increased per $1,000 principal amount of Notes pursuant to this Section 14.03 for each Stock Price and Effective Date set forth below: 

 

																																																													
	 	  	Stock Price	 
	 Effective Date
	  	$31.44	 	  	$32.50	 	  	$35.00	 	  	$37.50	 	  	$40.00	 	  	$40.87	 	  	$45.00	 	  	$50.00	 	  	$53.13	 	  	$60.00	 	  	$70.00	 	  	$80.00	 	  	$100.00	 	  	$120.00	 	  	$150.00	 
	 February 18, 2020
	  	 	7.3400	 	  	 	6.8637	 	  	 	5.8889	 	  	 	5.0859	 	  	 	4.4183	 	  	 	4.2126	 	  	 	3.3873	 	  	 	2.6446	 	  	 	2.2835	 	  	 	1.6855	 	  	 	1.1251	 	  	 	0.7766	 	  	 	0.3928	 	  	 	0.2004	 	  	 	0.0515	 
	 February 15, 2021
	  	 	7.3400	 	  	 	6.8637	 	  	 	5.8717	 	  	 	5.0059	 	  	 	4.2925	 	  	 	4.0741	 	  	 	3.2071	 	  	 	2.4420	 	  	 	2.0768	 	  	 	1.4857	 	  	 	0.9521	 	  	 	0.6354	 	  	 	0.3059	 	  	 	0.1516	 	  	 	0.0385	 
	 February 15, 2022
	  	 	7.3400	 	  	 	6.8637	 	  	 	5.7314	 	  	 	4.7960	 	  	 	4.0350	 	  	 	3.8045	 	  	 	2.9011	 	  	 	2.1268	 	  	 	1.7677	 	  	 	1.2053	 	  	 	0.7269	 	  	 	0.4615	 	  	 	0.2077	 	  	 	0.0993	 	  	 	0.0245	 
	 February 15, 2023
	  	 	7.3400	 	  	 	6.7394	 	  	 	5.4489	 	  	 	4.4237	 	  	 	3.6063	 	  	 	3.3621	 	  	 	2.4287	 	  	 	1.6674	 	  	 	1.3318	 	  	 	0.8372	 	  	 	0.4577	 	  	 	0.2710	 	  	 	0.1139	 	  	 	0.0536	 	  	 	0.0131	 
	 February 15, 2024
	  	 	7.3400	 	  	 	6.4338	 	  	 	4.9211	 	  	 	3.7491	 	  	 	2.8498	 	  	 	2.5902	 	  	 	1.6504	 	  	 	0.9726	 	  	 	0.7100	 	  	 	0.3760	 	  	 	0.1749	 	  	 	0.0974	 	  	 	0.0426	 	  	 	0.0216	 	  	 	0.0055	 
	 February 15, 2025
	  	 	7.3400	 	  	 	6.3026	 	  	 	4.1049	 	  	 	2.2001	 	  	 	0.5334	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 

 The exact Stock Price and/or Effective Date may not be set forth in the table above, in which case: 

(i)    if the Stock Price is between two Stock Prices in the table or the Effective Date is between two
Effective Dates in the table, the number of Additional Shares by which the Exchange Rate shall be increased shall be determined by a straight-line interpolation between the number of Additional Shares set forth for the higher and lower Stock Prices
and the earlier and later Effective Dates, as applicable, based on a 365-day year or 366-day year, as applicable; 

(ii)    if the Stock Price is greater than $150.00 per share (subject to adjustment in the same manner as
the Stock Prices set forth in the column headings of the table above), no Additional Shares shall be added to the Exchange Rate; and 

  
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 (iii)    if the Stock Price is less than $31.44 per
share (subject to adjustment in the same manner as the Stock Prices set forth in the column headings of the table above), no Additional Shares shall be added to the Exchange Rate. 

Notwithstanding the foregoing, in no event shall the Exchange Rate per $1,000 principal amount of Notes exceed 31.8066 shares of Common Stock,
subject to adjustment in the same manner as the Exchange Rate pursuant to Section 14.04. 
 (f)    Nothing in this
Section 14.03 shall prevent an adjustment to the Exchange Rate pursuant to Section 14.04 in respect of a Make-Whole Fundamental Change. 

Section 14.04. Adjustment of Exchange Rate. The Exchange Rate shall be adjusted from time to time by the Company if any of
the following events occurs, except that the Company shall not make any adjustments to the Exchange Rate if Holders of the Notes participate (other than in the case of a share split or share combination), at the same time and upon the same terms as
holders of the Common Stock and solely as a result of holding the Notes, in any of the transactions described in this Section 14.04, without having to exchange their Notes, as if they held a number of shares of Common Stock equal to
(i) the Exchange Rate, multiplied by (ii) the principal amount (expressed in thousands) of Notes held by such Holder. 

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

 
 where, 
  

					
	ER0	  	=	  	the Exchange Rate in effect immediately prior to the open of business on the Ex-Dividend Date of such dividend or distribution, or immediately prior to the open of business on the effective date of such share split or share
combination, as applicable;
			
	ER1	  	=	  	the Exchange 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 prior to the open of business on such Ex-Dividend Date or effective date, as applicable, before giving effect to such dividend,
distribution, share split or share combination; and
			
	OS1	  	=	  	the number of shares of Common Stock outstanding immediately after giving effect to such dividend, distribution, share split or share combination.

 Any adjustment made under this Section 14.04(a) shall become effective immediately after the open of business on the Ex-Dividend Date for such dividend or distribution, or immediately after the open of business on the effective date for such share split or share combination, as applicable.

  
 69 

 
If any dividend or distribution of the type described in this Section 14.04(a) is declared and results in an adjustment under this Section 14.04(a) but is not so paid or made, the
Exchange Rate shall be immediately readjusted, effective as of the date the Guarantor’s Board of Directors determines not to pay such dividend or distribution, to the Exchange Rate that would then be in effect if such dividend or distribution
had not been declared. 
 (b)    If the Guarantor issues to all or substantially all holders of the Common Stock any
rights, options or warrants (other than any issuance pursuant to a shareholder’s rights agreement or rights plan) entitling them, for a period of not more than 60 calendar days after the announcement date of such issuance, to subscribe for or
purchase shares of 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 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding
the date of announcement of such issuance, the Exchange Rate shall be increased based on the following formula: 
  
 

 
 where, 
  

					
	ER0	  	=	  	the Exchange Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such 
issuance;
			
	ER1	  	=	  	the Exchange Rate in effect immediately after the open of business on such Ex-Dividend Date;
			
	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the open of business on such Ex-Dividend Date;
			
	X	  	=	  	the total number of shares of Common Stock deliverable pursuant to such rights, options or warrants; and
			
	Y	  	=	  	the number of shares of Common Stock equal to the aggregate price payable to exercise such rights, options or warrants, divided by the average of the Last Reported Sale Prices per share of Common Stock over the 10 consecutive
Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of the issuance of such rights, options or warrants.

 Any increase made under this Section 14.04(b) shall be made successively whenever any such rights, options or warrants
are issued and shall become effective immediately after the open of business on the Ex-Dividend Date for such issuance. To the extent that shares of Common Stock are not delivered after the exercise of such
rights, options or warrants, the Exchange Rate shall be decreased to the Exchange Rate that would then be in effect had the increase with respect to the issuance of such rights, options or warrants been made on the basis of delivery of only the
number of shares of Common Stock actually delivered. If such rights, options or warrants are not so issued, the Exchange Rate shall be decreased, effective as of the date the Guarantor’s Board of Directors determines not to issue such rights,
options or warrants, to the Exchange Rate that would then be in effect if such Ex-Dividend Date for such issuance had not occurred. 

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

(c)    If the Guarantor distributes shares of its Capital Stock, evidences of its indebtedness, other assets or property
or rights, options or warrants to acquire its Capital Stock or other securities, to all or substantially all holders of the Common Stock, excluding: 

(i)    dividends, distributions or issuances (including share splits) described in Section 14.04(a) or
Section 14.04(b); 
 (ii)    dividends or distributions paid exclusively in cash described in
Section 14.04(d); 
 (iii)    except in the case of a Separation Event, any dividend or distribution
pursuant to a shareholder’s rights agreement or rights plan (as described in this Section 14.04(c)); 

(iv)    any dividends and distributions in connection with a Specified Corporate Event described under
Section 14.07; and 
 (v)    Spin-Offs as to which the provisions set forth below in this
Section 14.04(c) shall apply; 
 (any of such shares of Capital Stock, evidences of indebtedness, other assets or property or rights,
options or warrants to acquire Capital Stock or other securities of the Guarantor, the “Distributed Property”), then the Exchange Rate shall be increased based on the following formula: 

 
 

 
 where, 
  

					
	ER0	  	=	  	the Exchange Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such distribution;

  
 71 

					
	ER1	  	=	  	the Exchange Rate in effect immediately after the open of business on such Ex-Dividend Date;
			
	SP0	  	=	  	the average of the Last Reported Sale Prices per share of Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the
Ex-Dividend Date for such distribution; and
			
	FMV	  	=	  	the fair market value (as determined by the Guarantor’s Board of Directors) of the Distributed Property so distributed with respect to each outstanding share of Common Stock on the
Ex-Dividend Date for such distribution.

 Any increase made under the portion of this Section 14.04(c) above shall become effective immediately
after the open of business on the Ex-Dividend Date for such distribution. If such distribution is not so paid or made, the Exchange Rate shall be decreased, effective as of the date the Guarantor’s Board
of Directors determines not to pay or make such distribution, to be the Exchange Rate that would then be in effect if such distribution had not been declared. 

Notwithstanding the foregoing, if “FMV” (as defined above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase, each Holder of a Note shall receive, in respect of each $1,000 principal amount thereof, at the same time and upon the same terms as
holders of the Common Stock receive the Distributed Property, the amount and kind of Distributed Property that such Holder would have received if such Holder owned a number of shares of Common Stock equal to the Exchange Rate in effect on the Ex-Dividend Date for the distribution. 
 With respect to an adjustment pursuant to this
Section 14.04(c) where there has been a payment of a dividend or other distribution on the Common Stock of Capital Stock of any class or series, or similar equity interest, of or relating to a Subsidiary or other business unit of the Guarantor,
that are, or, when issued, will be, listed or admitted for trading on a U.S. national securities exchange (a “Spin-Off”), the Exchange Rate shall be increased based on the following formula:

  
 

 
 where, 
  

					
	ER0	  	=	  	the Exchange Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such 
distribution;
			
	ER1	  	=	  	the Exchange Rate in effect immediately after the open of business on the Ex-Dividend Date for such distribution;
			
	FMV0	  	=	  	the average of the Last Reported Sale Prices of the Capital Stock or similar equity interest distributed to holders of the Common Stock applicable to one share of Common Stock (determined by reference to the definition of Last
Reported Sale Price as set forth in Section 1.01 as if references therein to the Common Stock were to such Capital Stock or similar equity interest) over the first 10 consecutive Trading Day period after, and including, the Ex-Dividend Date of the Spin-Off (the “Valuation Period”); and
			
	MP0	  	=	  	the average of the Last Reported Sale Prices per share of Common Stock over the Valuation Period.

  
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 Any adjustment to the Exchange Rate under the preceding paragraph shall be made immediately after the close
of business on the last Trading Day of the Valuation Period, but will be given effect as of the open of business on the Ex-Dividend Date for the Spin-Off. Because the
Company will make the adjustment to the Exchange Rate at the end of the Valuation Period with retroactive effect, the Company will delay the settlement of any exchange of Notes where the Exchange Date (in the case of Physical Settlement) or the
final VWAP Trading Day of the related Observation Period (in the case of Cash Settlement or Combination Settlement) occurs during the Valuation Period. In such event, the Company shall deliver the consideration due upon exchange on the second
Business Day immediately following the last Trading Day of the Valuation Period. If such Spin-Off does not occur, the Exchange Rate shall be decreased to be the Exchange Rate that would then be in effect if
such dividend or distribution had not been declared, effective as of the date on which the Guarantor’s Board of Directors determines not to consummate such Spin-Off. 

For purposes of this Section 14.04(c) (and subject in all respects to Section 14.11), rights, options or warrants distributed by the
Guarantor to all holders of the Common Stock entitling them to subscribe for or purchase shares of the Guarantor’s Capital Stock, including Common Stock (either initially or under certain circumstances), which rights, options or warrants, until
the occurrence of a specified event or events (“Trigger Event”): 
 (i)    are deemed to
be transferred with such shares of Common Stock; 
 (ii)    are not exercisable; and 

(iii)    are also issued in respect of future issuances of the Common Stock, 

shall be deemed not to have been distributed for purposes of this Section 14.04(c) (and no adjustment to the Exchange Rate under this
Section 14.04(c) will be required) until the occurrence of the earliest Trigger Event, whereupon such rights, options or warrants shall be deemed to have been distributed and an appropriate adjustment (if any is required) to the Exchange Rate
shall be made under this Section 14.04(c). If any such right, option or warrant, including any such existing rights, options or warrants distributed prior to the date of this Indenture, are subject to events, upon the occurrence of which such
rights, options or warrants become exercisable to purchase different securities, evidences of indebtedness or other assets, then the date of the occurrence of any and each such event shall be deemed to be the date of distribution and Ex-Dividend Date with respect to new rights, options or warrants with such rights (in which case the existing rights, options or warrants shall be deemed to terminate and expire on such date without exercise by any
of the holders thereof). In addition, in the event of any distribution (or deemed distribution) of rights, options or warrants, or any Trigger Event or other event (of the type described in the immediately preceding sentence) with respect thereto

  
 73 

 
that was counted for purposes of calculating a distribution amount for which an adjustment to the Exchange Rate under this Section 14.04(c) was made: 

(A)    in the case of any such rights, options or warrants that shall all have been redeemed or purchased
without exercise by any holders thereof, upon such final redemption or purchase (x) the Exchange Rate shall be readjusted as if such rights, options or warrants had not been issued and (y) the Exchange Rate shall then again be readjusted
to give effect to such distribution, deemed distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per share redemption or purchase price received by a holder or holders of Common Stock with respect to
such rights, options or warrants (assuming such holder had retained such rights, options or warrants), made to all holders of Common Stock as of the date of such redemption or purchase, and 

(B)    in the case of such rights, options or warrants that shall have expired or been terminated without
exercise by any holders thereof, the Exchange Rate shall be readjusted as if such rights, options and warrants had not been issued. 
 For
purposes of Section 14.04(a), Section 14.04(b) and this Section 14.04(c), any dividend or distribution to which this Section 14.04(c) is applicable that also includes one or both of: 

(i)    a dividend or distribution of shares of Common Stock to which Section 14.04(a) is applicable
(the “Clause A Distribution”); or 
 (ii)    a dividend or distribution of rights,
options or warrants to which Section 14.04(b) is applicable (the “Clause B Distribution”), 
 then: 

(A)    such dividend or distribution, other than the Clause A Distribution and the Clause B Distribution,
shall be deemed to be a dividend or distribution to which this Section 14.04(c) is applicable (the “Clause C Distribution”) and any Exchange Rate adjustment required by this Section 14.04(c) with respect to such Clause C
Distribution shall then be made; and 
 (B)    the Clause A Distribution and Clause B Distribution shall
be deemed to immediately follow the Clause C Distribution and any Exchange Rate adjustment required by Section 14.04(a) and Section 14.04(b) with respect thereto shall then be made, except that, if determined by the Company (I) the “Ex-Dividend Date” of the Clause A Distribution and the Clause B Distribution shall be deemed to be the Ex-Dividend Date of the Clause C Distribution and
(II) any shares of Common Stock included in the Clause A Distribution or Clause B Distribution shall be deemed not to be “outstanding immediately prior to the open of business on such Ex-Dividend
Date or effective date” within the meaning of Section 14.04(a) or “outstanding immediately prior to the open of business on such Ex-Dividend Date” within the meaning of
Section 14.04(b). 

  
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 (d)    If any cash dividend or distribution is made to all or
substantially all holders of the Common Stock, the Exchange Rate shall be increased based on the following formula: 
  

					
	ER1 = ER0 ×	  	 SP0
	  	
	  	SP0 – C	  	

  

					
	where,
			
	ER0	  	=	  	the Exchange Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such dividend or distribution;
			
	ER1	  	=	  	the Exchange Rate in effect immediately after the open of business on the Ex-Dividend Date for such dividend or distribution;
			
	SP0	  	=	  	the Last Reported Sale Price per share of Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution;
			
	C	  	=	  	the amount in cash per share the Guarantor distributes to all or substantially all holders of the Common Stock.

 Any adjustment made pursuant to this Section 14.04(d) shall become effective immediately after the open
of business on the Ex-Dividend Date for such dividend or distribution. If such dividend or distribution is not so paid, the Exchange Rate shall be decreased, effective as of the date the Guarantor’s Board
of Directors determines not to make or pay such dividend or distribution, to the Exchange Rate that would then be in effect if such dividend or distribution had not been declared. 

Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase, each Holder of a Note shall receive, for each $1,000 principal amount of Notes, at the same time and upon the same terms as holders of
the Common Stock, the amount of cash that such Holder would have received if such Holder owned a number of shares of Common Stock equal to the Exchange Rate on the Ex-Dividend Date for such cash dividend or
distribution. 
 (e)    If the Guarantor or any of its Subsidiaries makes a payment in respect of a tender or exchange
offer for the Common Stock (other than an odd-lot tender offer), to the extent that the cash and value of any other consideration included in the payment per share of Common Stock exceeds the average of the
Last Reported Sale Prices per share of Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to such tender or

  
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exchange offer (such date, the “Expiration Date”), the Exchange Rate shall be increased based on the following formula: 

 
 

 
  

					
	where,
			
	ER0	  	=	  	the Exchange Rate in effect immediately prior to the open of business on the Trading Day next succeeding the Expiration Date;
			
	ER1	  	=	  	the Exchange Rate in effect immediately after the open of business on the Trading Day next succeeding the Expiration Date;
			
	AC	  	=	  	the aggregate value of all cash and any other consideration (as determined by the Guarantor’s Board of Directors) paid or payable for shares of Common Stock purchased or exchanged in such tender or exchange offer;
			
	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the time (the “Expiration Time”) such tender or exchange offer expires (prior to giving effect to the purchase or exchange of all shares
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 (after giving effect to the purchase or exchange of all shares accepted for purchase or exchange in such tender or exchange offer);
and
			
	SP1	  	=	  	the average of the Last Reported Sale Prices per share of Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the Expiration Date.

 Any adjustment to the Exchange Rate under this Section 14.04(e) shall be made at the close of business on
the 10th Trading Day immediately following, and including, the Trading Day next succeeding the Expiration Date, but will be given effect as of the open of business on the Trading Day next succeeding the Expiration Date. Because the Company shall
make the adjustment to the Exchange Rate at the end of the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the Expiration Date with retroactive effect, the Company shall delay the settlement of any
exchange of Notes where the Exchange Date (in the case of Physical Settlement) or the final VWAP Trading Day of the related Observation Period (in the case of Cash Settlement or Combination Settlement) occurs during the 10 consecutive Trading Day
period commencing on, and including, the Trading Day next succeeding the Expiration Date. In such event, the Company will deliver the consideration due upon exchange on the second Business Day immediately following the last Trading Day of the 10
consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the Expiration Date. 
 In the event that the
Guarantor or one of its Subsidiaries is obligated to purchase shares of Common Stock pursuant to any such tender offer or exchange offer, but the Guarantor or such Subsidiary is permanently prevented by applicable law from effecting any such
purchases, or all or a portion of such purchases are rescinded, then the Exchange Rate shall again be adjusted to be the Exchange Rate that would then be in effect if such tender offer or exchange offer had not been made or had been made only in
respect of the purchases that have been effected. 

  
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 (f)    Notwithstanding anything to the contrary in this
Section 14.04 or any other provision of this Indenture or the Notes, if an Exchange Rate adjustment becomes effective on any Ex-Dividend Date and a Holder that has exchanged its Notes on or after such Ex-Dividend Date and on or prior to the related Record Date would be treated as the record holder of shares of Common Stock as of the related Exchange Date as described under Section 14.02(h) based on an
adjusted Exchange Rate for such Ex-Dividend Date, then, notwithstanding the Exchange Rate adjustment provisions in this Section 14.04, the Exchange Rate adjustment relating to such Ex-Dividend Date shall not be made for such exchanging Holder. Instead, such Holder shall be treated as if such Holder were the record owner of shares of Common Stock on an unadjusted basis and participate in the
related dividend, distribution or other event giving rise to such adjustment. 
 (g)    All calculations and other
determinations under this Article 14 shall be made by the Company and all adjustments to the Exchange Rate shall be made to the nearest one-ten thousandth (1/10,000th) of a share of Common Stock. In no event
will the Exchange Rate be adjusted such that the Exchange Price shall be less than the par value per share of Common Stock. Notwithstanding anything in this Article 14 to the contrary, the Company shall not be required to adjust the Exchange Rate
unless the adjustment would result in a change of at least 1% to the Exchange Rate. However, the Company shall carry forward any adjustment that is less than 1% of the Exchange Rate, take such carried-forward adjustments into account in any
subsequent adjustment, and make such carried-forward adjustments, regardless of whether the aggregate adjustment is less than 1%, (i) annually on the anniversary of the Issue Date, (ii) in the case of any Note to which Physical Settlement
applies, upon the Exchange Date, (iii) in the case of any Note to which Cash Settlement or Combination Settlement applies, on each VWAP Trading Day of the applicable Observation Period, (iv) on the date of a Notice of Optional Redemption
and (v) on the Effective date of any Fundamental Change or Make-Whole Fundamental Change. 
 (h)    In addition to
those adjustments required by clauses (a), (b), (c), (d) and (e) of this Section 14.04, and to the extent permitted by applicable law and subject to the applicable rules of The Nasdaq Global Select Market, the Company from time to time may
increase the Exchange Rate by any amount for a period of at least 20 Business Days if the Guarantor’s Board of Directors determines that such increase would be in the Company’s and/or the Guarantor’s best interest. In addition, to the
extent permitted by applicable law and subject to the applicable rules of The Nasdaq Global Select Market, the Company may also (but is not required to) increase the Exchange Rate to avoid or diminish any income tax to the holders of the Common
Stock or rights to purchase shares of Common Stock in connection with a dividend or distribution of shares (or rights to acquire shares) or similar event. Whenever the Exchange Rate is increased pursuant to either of the preceding two sentences, the
Company shall send to the Holder of each Note at its last address appearing on the Note Register a notice of the increase at least 15 days prior to the date the increased Exchange Rate takes effect, and such notice shall state the increased Exchange
Rate and the period during which it will be in effect. 

  
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 (i)    Except as stated herein, the Company shall not adjust the
Exchange Rate for the issuance of Common Stock or any securities convertible into or exchangeable for shares of Common Stock or the right to purchase shares of Common Stock or such convertible or exchangeable securities. In addition, notwithstanding
anything to the contrary in this Article 14, the Exchange Rate shall not be adjusted: 
 (i)    upon the
issuance of shares of Common Stock pursuant to any present or future plan providing for the reinvestment of dividends or interest payable on the Guarantor’s securities and the investment of additional optional amounts in shares of Common Stock
under any plan; 
 (ii)    upon the issuance of shares of Common Stock or options or rights to purchase
those shares pursuant to any present or future employee, director or consultant benefit plan or program of or assumed by the Guarantor or any of its Subsidiaries (including the Company); 

(iii)    upon the issuance of shares of Common Stock pursuant to any option, warrant (including the warrant
transactions entered into on the date of pricing of the Notes or on any date on which the Initial Purchasers’ option to purchase additional Notes is exercised), right or exercisable, exchangeable or convertible security not described in clause
(ii) of this subsection and outstanding as of the date the Notes were first issued; 
 (iv)    for
ordinary course of business stock repurchases that are not tender or exchange offers referred to in Section 14.04(e), including structured or derivative transactions or pursuant to a repurchase program approved by the Guarantor’s Board of
Directors; 
 (v)    solely for a change in the par value of the Common Stock; or 

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

(j)     [Reserved] 

(k)    Whenever the Exchange Rate is adjusted as herein provided, the Company shall promptly file with the Trustee (and
the Exchange Agent if not the Trustee) an Officer’s Certificate setting forth the Exchange Rate after such adjustment and setting forth a brief statement of the facts requiring such adjustment. Unless and until a Responsible Officer of the
Trustee shall have received such Officer’s Certificate, the Trustee shall not be deemed to have knowledge of any adjustment of the Exchange Rate and may assume without inquiry that the last Exchange Rate of which it has knowledge is still in
effect. Promptly after delivery of such certificate, the Company shall prepare a notice of such adjustment of the Exchange Rate setting forth the adjusted Exchange Rate and the date on which each adjustment becomes effective and shall send such
notice of such adjustment of the Exchange Rate to each Holder at its last address appearing on the Note Register of this Indenture. Failure to deliver such notice shall not affect the legality or validity of any such adjustment. 

(l)    [Reserved] 

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

Section 14.05. Adjustments of Prices. Whenever any provision of this Indenture requires the Company to calculate the Last
Reported Sale Prices, the Daily VWAPs, the Daily Exchange Values or the Daily Settlement Amounts over a span of multiple days (including, without limitation, an Observation Period and the period for determining the Stock Price for purposes of a
Make-Whole Fundamental Change or a Notice of Optional Redemption), the Company shall make appropriate adjustments, in good faith, to each to account for any adjustment to the Exchange Rate that becomes effective, or any event requiring an adjustment
to the Exchange Rate where the Ex-Dividend Date, effective date or Expiration Date of the event occurs at any time during the period when the Last Reported Sale Prices, the Daily VWAPs, the Daily Exchange
Values or the Daily Settlement Amounts or Stock Prices are to be calculated. 
 Section 14.06. Shares To Be Fully Reserved.
The Guarantor shall have reserved and provide, free from preemptive rights, out of its authorized but unissued shares, the maximum number of shares of Common Stock exchangeable under the Notes (including the maximum number of Additional Shares
that could be included in the Exchange Rate for an exchange in connection with a Make-Whole Fundamental Change or a Notice of Optional Redemption). 

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

(a)    In the case of: 

(i)    any recapitalization, reclassification or change of the Common Stock (other than changes in par
value or resulting from a subdivision or combination); 
 (ii)    any consolidation, merger or other
combination involving the Guarantor; or 
 (iii)    any sale, lease or other transfer or disposition to a
third party of all or substantially all of the consolidated assets of the Guarantor, taken as a whole; or 

(iv)    any statutory share exchange, 

in each case, as a result of which the Common Stock would be converted into, or exchanged for stock, other securities, other property or assets (including
cash or any combination thereof) (any such event, a “Specified Corporate Event” and any such stock, other securities, other property or assets (including cash or any combination thereof), “Reference Property” and
the amount of Reference Property that a holder of one share of Common Stock immediately prior to such Specified Corporate Event would have been entitled to receive upon the occurrence of such Specified Corporate Event, a “Unit of Reference
Property”), then the Company, or the successor or purchasing corporation, as the case may be, will execute with the Trustee, which supplemental indenture shall not require the consent of the Holders, a supplemental indenture

  
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providing that, at and after the effective time of the Specified Corporate Event, the right to exchange each $1,000 principal amount of Notes for shares of Common Stock will be changed into a
right to exchange such principal amount of Notes for the kind and amount of Reference Property that a holder of a number of shares of Common Stock equal to the Exchange Rate immediately prior to such Specified Corporate Event would have been
entitled to receive upon such Specified Corporate Event; provided, however, that at and after the effective time of the Specified Corporate Event: 

(A)    the Company shall continue to have the right to determine the form of consideration to be paid or
delivered, as the case may be, upon exchange of Notes in accordance with Section 14.02; and 

(B)    (I) any amount payable in cash upon exchange of the Notes in accordance with Section 14.02
shall continue to be payable in cash, (II) any shares of Common Stock that would have been deliverable upon exchange of the Notes in accordance with Section 14.02 shall instead be deliverable in the Units of Reference Property that a
holder of that number of shares of Common Stock would have received in such Specified Corporate Event and (III) the Daily VWAP shall be calculated based on the value of a Unit of Reference Property; provided, however, that if the holders
of the Common Stock receive only cash in such Specified Corporate Event, then for all exchanges that occur after the effective date of such Specified Corporate Event (x) the consideration due upon exchange of each $1,000 principal aggregate
amount of Notes shall be solely cash in an amount equal to the Exchange Rate in effect on the Exchange Date (as may be increased by any Additional Shares pursuant to Section 14.03), multiplied by the price paid per share of Common Stock
in such Specified Corporate Event and (y) the Company shall satisfy the Exchange Obligation by paying such cash to the exchanging Holder on the second Business Day immediately following the Exchange Date. 

If the Specified Corporate Event causes the Common Stock to be converted into, or exchanged for, the right to receive more than a single type
of consideration (determined based in part upon any form of stockholder election), then the Reference Property into which the Notes shall be exchangeable shall be deemed to be the weighted average of the types and amounts of consideration actually
received by the holders of the Common Stock. The Company shall notify Holders, the Trustee and the Exchange Agent (if other than the Trustee) in writing of the weighted average as soon as practicable after such determination. 

Such supplemental indenture described in the second immediately preceding paragraph shall provide for anti-dilution and other adjustments that
shall be as nearly equivalent as is possible to the adjustments provided for in this Article 14. If the Reference Property in respect of any Specified Corporate Event includes shares of stock, other securities or other property or assets (other than
cash) (including any combination thereof) of an entity other than the Guarantor or the Company or the successor or purchasing corporation, as the case may be, in such Specified Corporate Event, then such other entity, if it is party to such
Specified Corporate Event, shall also execute such supplemental indenture, and such supplemental indenture shall contain such additional provisions to protect the interests of the Holders, including the right of Holders to

  
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require the Company to repurchase their Notes upon a Fundamental Change in accordance with Article 15, as the Board of Directors of the Guarantor shall reasonably consider necessary by reason of
the foregoing. 
 (b)    In the event the Company shall execute a supplemental indenture pursuant to
Section 14.07(a), the Company shall promptly file with the Trustee an Officer’s Certificate briefly stating the reasons therefor, the kind or amount of cash, securities or other assets (including any combination thereof) that will comprise
the Reference Property after any such Specified Corporate Event, any adjustment to be made with respect thereto and that all conditions precedent have been complied with, and shall promptly send notice thereof to all Holders. The Company shall cause
notice of the execution of such supplemental indenture to be sent to each Holder, at its address appearing on the Note Register provided for in this Indenture, within 20 days after execution thereof. Failure to deliver such notice shall not affect
the legality or validity of such supplemental indenture. 
 (c)    If the Notes become exchangeable for Reference
Property, the Company shall notify the Trustee in writing and the Guarantor shall issue a press release containing the relevant information and publish the information on its website or through such other public medium as it may use at that time.

 (d)    The Company and the Guarantor shall not become a party to any Specified Corporate Event unless its terms are
consistent with this Section 14.07. None of the foregoing provisions shall affect the right of a Holder to exchange its Notes into cash, shares of Common Stock or a combination of cash and shares of Common Stock, as applicable, as set forth in
Section 14.01 and Section 14.02 prior to the effective date of such Specified Corporate Event. 
 (e)    The
above provisions of this Section shall similarly apply to successive Specified Corporate Events. 
 Section 14.08. Certain
Covenants. 
 (a)    The Guarantor covenants that all shares of Common Stock delivered upon exchange of Notes
shall be duly authorized, fully paid and non-assessable and free from all preemptive or similar rights of any securityholder of the Guarantor and free from all taxes, liens, charges and adverse claims as the
result of any action by the Guarantor. 
 (b)    [Reserved] 

(c)    The Company and the Guarantor shall comply with all applicable U.S. federal and state securities laws regulating
the offer and delivery of shares of Common Stock upon exchange of the Notes, including that if any shares of Common Stock to be provided for the purpose of exchange of Notes hereunder require registration with or approval of any governmental
authority under any U.S. federal or state law before such shares of Common Stock may be validly issued upon exchange, the Guarantor shall, to the extent then permitted by the rules and interpretations of the Commission, secure such registration or
approval, as the case may be. 
 (d)    The Company and the Guarantor further covenant that if at any time the Common
Stock shall be listed on any national securities exchange or automated quotation system, the Guarantor shall list and keep listed, so long as the Common Stock shall be so listed on such exchange or automated quotation system, any Common Stock
deliverable upon exchange of the Notes. 

  
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 Section 14.09. Responsibility of Trustee. The Trustee and any other
Exchange Agent shall not at any time be under any duty or responsibility to any Holder to determine the Exchange Rate (or any adjustment thereto) or whether any facts exist that may require any adjustment (including any increase) of the Exchange
Rate, or with respect to the nature or extent or calculation of any such adjustment when made, or with respect to the method employed, or herein or in any supplemental indenture provided to be employed, in making the same. The Trustee and any other
Exchange Agent shall not be accountable with respect to the validity or value (or the kind or amount) of any shares of Common Stock, or of any securities, property or cash that may at any time be issued or delivered upon the exchange of any Note;
and the Trustee and any other Exchange Agent make no representations with respect thereto. Neither the Trustee nor any Exchange Agent shall be responsible for any failure of the Company to issue, transfer or deliver any shares of Common Stock or
stock certificates or other securities or property or cash upon the surrender of any Note for the purpose of exchange or to comply with any of the duties, responsibilities or covenants of the Company contained in this Article. Without limiting the
generality of the foregoing, neither the Trustee nor any Exchange Agent shall be under any responsibility to determine the correctness of any provisions contained in any supplemental indenture entered into pursuant to Section 14.07 relating
either to the kind or amount of shares of stock or securities or property (including cash) receivable by Holders upon the exchange of their Notes after any event referred to in such Section 14.07 or to any adjustment to be made with respect
thereto, but, subject to the provisions of Section 7.01, may accept (without any independent investigation) as conclusive evidence of the correctness of any such provisions, and shall be protected in relying upon, the Officer’s Certificate
(which the Company shall be obligated to furnish to the Trustee prior to the execution of any such supplemental indenture) with respect thereto. Neither the Trustee nor the Exchange Agent shall be responsible for determining whether any event
contemplated by Section 14.01(b) has occurred that makes the Notes eligible for exchange or no longer eligible therefor until the Company has delivered to the Trustee and the Exchange Agent the notices referred to in Section 14.01(b) with
respect to the commencement or termination of such exchange rights, on which notices the Trustee and the Exchange Agent may conclusively rely, and the Company agrees to deliver such notices to the Trustee and the Exchange Agent immediately after the
occurrence of any such event or at such other times as shall be provided for in Section 14.01(b). The parties hereto agree that all notices to the Trustee or the Exchange Agent under this Article 14 shall be in writing. 

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

(a)    Specified Corporate Event or any consolidation, merger, sale, assignment, lease, conveyance or other transfer or
disposition of all or substantially all assets in accordance with Article 11; or 
 (b)    voluntary or involuntary
dissolution, liquidation or winding-up of the Guarantor or the Company; 

  
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 then, in each case (unless notice of such event is otherwise required pursuant to another provision of this
Indenture), the Company shall cause to be furnished to the Trustee and the Exchange Agent (if other than the Trustee) and to be sent to each Holder at its address appearing on the Note Register, as promptly as possible but in any event at least 20
days prior to the date on which such Specified Corporate Event, any consolidation, merger, sale, assignment, lease, conveyance or other transfer or disposition of all or substantially all assets in accordance with Article 11, or any dissolution,
liquidation or winding-up is expected to become effective or occur, and the date as of which it is expected that holders of Common Stock of record shall be entitled to exchange their Common Stock for
securities or other property deliverable upon such Specified Corporate Event, consolidation, merger, sale, assignment, lease, conveyance or other transfer or disposition of all or substantially all assets in accordance with Article 11, dissolution,
liquidation or winding-up; provided, however, that if on such date, neither the Company nor the Guarantor has knowledge of such event or the adjusted Exchange Rate cannot be calculated, the
Company shall deliver such notice as promptly as practicable upon obtaining knowledge of such event or information sufficient to make such calculation, as the case may be, and in no event later than the effective date of such adjustment. Failure to
give such notice, or any defect therein, shall not affect the legality or validity of such action by the Company, the Guarantor or one of the Guarantor’s Subsidiaries, Specified Corporate Event, or any consolidation, merger, sale, assignment,
lease, conveyance or other transfer or disposition of all or substantially all assets in accordance with Article 11, dissolution, liquidation or winding-up. 

Section 14.11. Stockholder Rights Plans. If the Guarantor has a shareholder’s rights agreement or rights plan in
effect upon exchange of the Notes, Holders that exchange their Notes shall receive, in addition to any shares of Common Stock received in connection with such exchange, the appropriate number of rights under such rights agreement or rights plan, if
any, and any certificate representing the shares of Common Stock issued upon such exchange shall bear such legends, if any, in each case as may be provided by the terms of any such rights agreement or rights plan, as the same may be amended from
time to time. However, if prior to any exchange, the rights have separated from the shares of Common Stock in accordance with the provisions of the applicable shareholder’s rights agreement or rights plan (a “Separation
Event”), the Exchange Rate shall be adjusted at the time of separation as if the Guarantor distributed to all or substantially all holders of the Common Stock, Distributed Property pursuant to Section 14.04(c), subject to readjustment
in the event of the expiration, termination or redemption of such rights. 
 ARTICLE 15 

REPURCHASE OF NOTES AT OPTION OF
HOLDERS 
 Section 15.01. Intentionally Omitted. 

Section 15.02. Repurchase at Option of Holders Upon a Fundamental Change. (a) If a Fundamental Change occurs at any
time prior to the Maturity Date, each Holder shall have the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s Notes, or any portion of the principal thereof that is equal to an Authorized
Denomination, on the date (the “Fundamental Change Repurchase Date”) specified by the Company that is not less than 20 or more than 35 Business Days following the date of the Fundamental Change Company

  
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Notice (subject to extension if required to comply with law), at a repurchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest thereon to, but not
including, the Fundamental Change Repurchase Date (the “Fundamental Change Repurchase Price”), unless the Fundamental Change Repurchase Date falls after a Regular Record Date but on or prior to the Interest Payment Date to which
such Regular Record Date relates, in which case the Company shall instead pay the full amount of accrued and unpaid interest to Holders of record as of such Regular Record Date, and the Fundamental Change Repurchase Price shall be equal to 100% of
the principal amount of Notes to be repurchased pursuant to this Article 15. 
 (b)    Repurchase of Notes under this
Section 15.02 shall be made, at the option of the Holder thereof, upon: 
 (i)    delivery to the
Paying Agent by a Holder of a duly completed notice (the “Fundamental Change Repurchase Notice”) in the form set forth in Attachment 2 to the Form of Note attached hereto as Exhibit A, if the Notes are Certificated Notes, or in
compliance with the Applicable Procedures for surrendering interests in Global Notes, if the Notes are Global Notes, in each case, on or before the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date;
and 
 (ii)    delivery of the Notes, if the Notes are Certificated Notes, to the Paying Agent on or
before the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date (together with all necessary endorsements for transfer) at the Corporate Trust Office of the Paying Agent, or book-entry transfer of the
Notes, if the Notes are Global Notes, in compliance with the Applicable Procedures, in each case, such delivery being a condition to receipt by the Holder of the Fundamental Change Repurchase Price therefor. 

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

(A)    in the case of Certificated Notes, the certificate numbers of the Notes to be delivered for
repurchase; 
 (B)    the portion of the principal amount of Notes to be repurchased, which must be a
minimum of $1,000 or an integral multiple of $1,000 in excess thereof; and 
 (C)    that the Notes are
to be repurchased by the Company pursuant to the applicable provisions of the Notes and this Indenture; 
 provided, however, that if the
Notes are Global Notes, the Fundamental Change Repurchase Notice must comply with the Applicable Procedures. 
 Notwithstanding anything
herein to the contrary, any Holder delivering to the Paying Agent the Fundamental Change Repurchase Notice contemplated by this Section 15.02 shall have the right to withdraw, in whole or in part, such Fundamental Change Repurchase Notice at
any time prior to the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date by delivery of a written notice of withdrawal to the Paying Agent in accordance with Section 15.03. 

  
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 If a Holder has already delivered a Fundamental Change Repurchase Notice with respect to a
Note, such Holder may not surrender such Note for exchange until such Holder has validly withdrawn such Fundamental Change Repurchase Notice (or, in the case of a Global Note, has complied with the Applicable Procedures with respect to such a
withdrawal) in accordance with the terms of Section 15.03. 
 The Paying Agent shall promptly notify the Company of the receipt by it
of any Fundamental Change Repurchase Notice or written notice of withdrawal thereof. 
 (c)    On or before the 20th
Business Day after the occurrence of a Fundamental Change, the Company shall provide to all Holders of Notes and the Trustee and the Paying Agent (if other than the Trustee) a written notice (the “Fundamental Change Company Notice”)
of the occurrence of the Fundamental Change and of the repurchase right at the option of the Holders arising as a result thereof. Each Fundamental Change Company Notice shall specify: 

(i)    the events causing the Fundamental Change; 

(ii)    the date of the Fundamental Change; 

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

 (iv)    the Fundamental Change Repurchase Price; 

(v)    the Fundamental Change Repurchase Date; 

(vi)    the name and address of the Paying Agent and the Exchange Agent; 

(vii)    the Exchange Rate and any adjustments to the Exchange Rate; 

(viii)    that the Notes with respect to which a Fundamental Change Repurchase Notice has been delivered by
a Holder may be exchanged only if the Holder withdraws the Fundamental Change Repurchase Notice in accordance with the terms of this Indenture (or, in the case of a Global Note, complies with the Applicable Procedures with respect to such a
withdrawal); 
 (ix)    the procedures that Holders must follow to require the Company to repurchase
their Notes; and 
 (x)    the CUSIP, ISIN or other similar numbers, if any, assigned to such Notes. 

Simultaneously with providing such Fundamental Change Company Notice, the Guarantor shall issue a press release containing the information in
such Fundamental Change Company Notice and publish the information on its website or through such other public medium as the Guarantor may use at that time. 

At the Company’s written request, the Trustee shall give such notice in the Company’s and the Guarantor’s names and at the
Company’s expense; provided, however, that, in all cases, 

  
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the text of such Fundamental Change Company Notice shall be prepared by the Company and/or the Guarantor. In such a case, the Company shall deliver such notice to the Trustee at least two
Business Days prior to the date that the notice is required to be given to the Holders (unless a shorter notice period shall be agreed to by the Trustee), together with an Officer’s Certificate requesting that the Trustee give such notice. 

Such notice shall be delivered to the Trustee, to the Paying Agent (if other than the Trustee) and to each Holder at its address shown in the
Note Register (and to the beneficial owner as required by applicable law) or, in the case of Global Notes, in accordance with the Applicable Procedures. 

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

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

(e)    Notwithstanding the foregoing, the Company shall not be required to repurchase, or to make an offer to repurchase,
the Notes upon a Fundamental Change: 
 (i)    if a third party makes such an offer in the same manner,
at same time and otherwise in compliance with the requirements for an offer made by the Company pursuant to this Article 15 and such third party purchases all Notes properly surrendered and not validly withdrawn under its offer in the same manner,
at the same time and otherwise in compliance with the requirements for an offer made by the Company on the Fundamental Change Repurchase Date; or 

(ii)    pursuant to clause (b) of the definition thereof (or a Fundamental Change pursuant to clause
(a) that also results in a Fundamental Change pursuant to clause (b)), if (A) such Fundamental Change results in the Notes becoming exchangeable (pursuant to the provisions described in Section 14.07) into an amount of cash per Note
that is greater than the Fundamental Change Repurchase Price (assuming the maximum amount of accrued interest would be payable based on the latest possible Fundamental Change Repurchase Date), and (B) the Company provides timely notice of the
Holders’ right to exchange their Notes based on such Fundamental Change as described in Section 14.01(b)(iii) (the requirements set forth in clauses (A) and (B) of this Section 15.02(e)(ii), the “Adequate Cash Exchange
Provisions”). 

  
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 Section 15.03. Withdrawal of Fundamental Change Repurchase Notice. A
Fundamental Change Repurchase Notice may be withdrawn (in whole or in part) by means of a written notice of withdrawal delivered to the Paying Agent in accordance with this Section 15.03 at any time prior to the close of business on the
Business Day immediately preceding the Fundamental Change Repurchase Date, specifying: 
 (a)    the
principal amount of the Notes with respect to which such notice of withdrawal is being submitted, which portion must be in an Authorized Denomination, 

(b)    if Certificated Notes have been issued, the certificate number of the Notes in respect of which such
notice of withdrawal is being submitted, and 
 (c)    the principal amount, if any, of such Notes that
remains subject to the original Fundamental Change Repurchase Notice, which portion must be in an Authorized Denomination; 
 provided,
however, that if the Notes are Global Notes, the withdrawal notice must comply with the Applicable Procedures. 

Section 15.04. Deposit of Fundamental Change Repurchase Price. (a) The Company shall deposit with the Trustee (or other
Paying Agent appointed by the Company, or if the Company is acting as its own Paying Agent, set aside, segregate and hold in trust as provided in Section 4.04) on or prior to 10:00 a.m., New York City time, on the Fundamental Change Repurchase
Date an amount of money sufficient to repurchase all of the Notes to be repurchased at the appropriate Fundamental Change Repurchase Price. Subject to receipt of funds by the Trustee (or other Paying Agent appointed by the Company), payment for
Notes surrendered for repurchase (and not validly withdrawn prior to the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date) will be made on the later of (i) the Fundamental Change Repurchase Date
with respect to such Note (provided the Holder has satisfied the conditions in Section 15.02) and (ii) the time of book-entry transfer or the delivery of such Note to the Trustee (or other Paying Agent appointed by the Company) by
the Holder thereof in the manner required by Section 15.02, by mailing checks for the amount payable to the Holders of such Notes entitled thereto as they shall appear in the Note Register; provided, however, that payments to the
Depositary shall be made by wire transfer of immediately available funds to the account of the Depositary or its nominee. The Trustee shall, promptly after such payment and upon written demand by the Company, return to the Company any funds in
excess of the Fundamental Change Repurchase Price. 
 (b)    If by 10:00 a.m. New York City time, on the Fundamental
Change Repurchase Date, the Trustee (or other Paying Agent appointed by the Company) holds money sufficient to make payment on all the Notes or portions thereof that are to be repurchased on such 

  
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Fundamental Change Repurchase Date or any applicable extension thereof, then, with respect to Notes that have been properly surrendered for repurchase and not validly withdrawn: 

(i)    such Notes shall cease to be outstanding and interest shall cease to accrue on such Notes on the
Fundamental Change Repurchase Date or any applicable extension thereof (whether or not book-entry transfer of the Notes has been made or the Notes have been delivered to the Trustee or Paying Agent); and 

(ii)    all other rights of the Holders of such Notes will terminate on the Fundamental Change Repurchase
Date (other than (x) the right to receive the Fundamental Change Repurchase Price and (y) if the Fundamental Change Repurchase Date falls after a Regular Record Date but on or prior to the related Interest Payment Date, the right of the
Holder on such Regular Record Date to receive the accrued and unpaid interest to, but not including, the Fundamental Change Repurchase Date). 

(c)    Upon surrender of a Note that is to be repurchased in part pursuant to Section 15.02, the Company shall
execute and the Trustee shall authenticate and deliver to the Holder a new Note in an Authorized Denomination equal in principal amount to the portion of the Note surrendered that is not to be repurchased, without payment of any service charge. 

Section 15.05. Covenant to Comply with Applicable Laws Upon Repurchase of Notes. In connection with any repurchase offer, the
Company will, if required: 
 (a)    comply with the provisions of Rule 13e-4,
Rule 14e-1 and any other tender offer rules under the Exchange Act that may then be applicable; 

(b)    file a Schedule TO or any other required schedule under the Exchange Act; and 

(c)    otherwise comply in all material respects with all federal and state securities laws in connection with any offer
by the Company to repurchase the Notes; 
 in each case, so as to permit the rights and obligations under this Article 15 to be exercised in the time and in
the manner specified in this Article 15, subject to extension if required to comply with law. To the extent that any securities laws and regulations conflict with the provisions of this Indenture with respect to the repurchase of Notes, the Company
is required to comply with such securities laws and regulations and shall not be deemed to be in breach of this Indenture as a result thereof. 

ARTICLE 16 

OPTIONAL REDEMPTION 

Section 16.01. Right of the Company to Redeem the Notes On or After February 20, 2023. Except as set forth in
this Article 16, the Company may not redeem the Notes at any time before February 20, 2023. 
 (a)    On or after
February 20, 2023, the Company has the right, at its election, to redeem (an “Optional Redemption”) all, or any portion in an Authorized Denomination, of the Notes, for cash equal to the Redemption Price, at any time and from
time to time, on an Optional Redemption Date on or after February 20, 2023 and prior to the 47th Scheduled Trading Day 

  
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immediately preceding the Maturity Date, if the Last Reported Sale Price per share of the Common Stock has been at least 130% of the Exchange Price then in effect for at least 20 Trading Days
(whether or not consecutive), including the Trading Day immediately preceding the Redemption Notice Date, during any 30 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Redemption Notice Date. 

(b)    If the applicable Optional Redemption Date falls after a Regular Record Date but on or prior to the immediately
succeeding Interest Payment Date, the Company will pay, on or prior to such Interest Payment Date, the full amount of accrued and unpaid interest to the Holder as of the close of business of such Regular Record Date (assuming, solely for these
purposes, that such Note remained outstanding through such Interest Payment Date, if such Optional Redemption Date is before such Interest Payment Date) and the Redemption Price shall be equal to 100% of the principal amount of Notes to be redeemed.

 Section 16.02. Notice of Optional Redemption. 

(a)    To call any Notes for Optional Redemption pursuant to Section 16.01(a), the Company shall fix a date for
Optional Redemption (a “Optional Redemption Date”) and the Company shall or, at its written request received by the Trustee not less than five Business Days prior to the date on which notice is sent to the Holders (or such
shorter period of time as may be acceptable to the Trustee), the Trustee shall, in the name of and at the expense of the Company, send or cause to be sent a notice of such Optional Redemption (a “Notice of Optional Redemption”) not
less than 50 nor more than 90 Scheduled Trading Days prior to the Optional Redemption Date to each Holder of Notes so to be redeemed at its last address as the same appears on the Note Register; provided, however, that if the Company shall give a
Notice of Optional Redemption, it shall also give a written notice of the Optional Redemption Date to the Trustee and the Paying Agent. The Company shall issue a press release through such national newswire service as the Company then uses
containing the information set forth in the Notice of Optional Redemption. An Optional Redemption Date must be a Business Day. 

(b)    A Notice of Optional Redemption, if delivered in the manner provided herein, shall be conclusively presumed to have
been given duly, whether or not the Holder receives such notice. In any case, failure to deliver such Notice of Optional Redemption or any defect in the Notice of Optional Redemption to the Holder of any Note designated for Optional Redemption shall
not affect the validity of the proceedings for the Redemption of any other Note. 
 (c)    Each Notice of Optional
Redemption shall specify: 
 (i)    that the Notes have been called for Optional Redemption, briefly
describing the Company’s redemption rights under this Indenture; 
 (ii)    the Optional Redemption
Date for such Optional Redemption; 
 (iii)    the Redemption Price per $1,000 principal amount of Notes
for such Optional Redemption (and the amount, manner and timing of any interest payment payable pursuant to Section 16.01(b)); 

  
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 (iv)    the place or places where such Notes are to be
surrendered for payment of the Redemption Price; 
 (v)     in case any Note is to be redeemed in part
only, the portion of the principal amount thereof to be redeemed and on and after the Optional Redemption Date, upon surrender of such Note, a new Note in principal amount equal to the unredeemed portion thereof shall be issued; 

(vi)    that Notes called for Optional Redemption must be delivered to the Paying Agent (in the case of
Certificated Notes) or the Applicable Procedures must be complied with (in the case of beneficial interests in Global Notes) for the Holder thereof to be entitled to receive the Redemption Price; 

(vii)    that on the Optional Redemption Date, the Redemption Price will become due and payable upon each
Note to be redeemed, and that, unless the Company defaults in the payment of the Redemption Price, the interest thereon, if any, shall cease to accrue on and after the Optional Redemption Date (subject to the right of Holders of record on the
relevant Regular Record Date that is prior to the Optional Redemption Date to receive interest payable pursuant to Section 16.01(b)); 

(viii)    that Holders may surrender their Notes called for Optional Redemption for exchange at any time
from the date of the Notice of Optional Redemption to the close of business on the second Scheduled Trading Day immediately preceding the Optional Redemption Date or, if the Company fails to pay the Redemption Price, such later date on which the
Company pays or duly provides for the Redemption Price; 
 (ix)    the procedures an exchanging Holder
must follow to exchange its Notes called for Optional Redemption and, if the Company chooses to elect a Settlement Method for any such exchanges, the relevant Settlement Method; 

(x)    the Exchange Rate and, if applicable, the number of shares of Common Stock added to the Exchange
Rate in accordance with Section 16.06; and 
 (xi)    the CUSIP, ISIN or other similar numbers, if
any, assigned to such Notes. 
 A Notice of Optional Redemption shall be irrevocable. In the case of an Optional Redemption, a Holder may exchange any or
all of its Notes called for Optional Redemption at any time from the date of the Notice of Optional Redemption to the close of business on the second Scheduled Trading Day immediately preceding the Optional Redemption Date or, if the Company fails
to pay the Redemption Price, such later date on which the Company pays or duly provides for the Redemption Price. 
 Section 16.03.
Payment of Notes Called for Optional Redemption. 
 (a)    If any Notice of Optional Redemption has been given
in respect of the Notes in accordance with Section 16.02, the Notes shall become due and payable on the applicable Optional Redemption Date at the place or places stated in the Notice of Optional Redemption and at the applicable Redemption
Price. On presentation and surrender of the Notes at the place or places stated in the Notice of Optional Redemption, the Notes shall be paid and redeemed by the Company at the applicable Redemption Price. 

  
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 (b)    Prior to 10:00 a.m., New York City time, on any Optional
Redemption Date, the Company shall deposit with the Trustee (or other Paying Agent appointed by the Company, or if the Company is acting as its own Paying Agent, set aside, segregate and hold in trust as provided in Section 4.04) an amount of
cash sufficient to pay the Redemption Price of all of the Notes to be redeemed on such Optional Redemption Date. Subject to receipt of funds by the Paying Agent, payment for the Notes to be redeemed shall be made on the Optional Redemption Date for
such Notes. The Trustee (or other Paying Agent appointed by the Company) shall, promptly after such payment and upon written demand by the Company, return to the Company any funds in excess of the Redemption Price. 

Section 16.04. Selection, Exchange and Transfer of Notes to be Redeemed in Part. If less than all Notes then
outstanding are called for Optional Redemption, then: 
 (a)    the Notes to be redeemed will be selected by the Trustee
as follows: (1) in the case of Global Notes, in accordance with the Applicable Procedures; and (2) in the case of Certificated Notes, by lot or pro rata; and 

(b)    if only a portion of a Note is subject to Optional Redemption and such Note is exchanged in part, then the
exchanged portion of such Note will be deemed to be from the portion of such Note that was subject to the Optional Redemption. 
 In the
event of any Optional Redemption, the Company shall not be required to (x) issue, register the transfer of or exchange any Notes during the 15 calendar day period prior to the relevant Redemption Notice Date or (y) register the transfer of
or exchange any Notes so selected for Optional Redemption, in whole or in part, except the unredeemed portion of any Notes being redeemed in part. 

Section 16.05. Restrictions on Optional Redemption. The Company may not redeem any Notes on any date if the principal
amount of the Notes has been accelerated in accordance with the terms of this Indenture, and such acceleration has not been rescinded, on or prior to the Optional Redemption Date (or, if the Company fails to pay the Redemption Price, such later date
on which the Company pays the Redemption Price) (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). The Company shall not send a Notice of Optional
Redemption so long as a Registration Default exists and is continuing. 
 Section 16.06. Increased Exchange Rate Applicable to Certain Notes Called
for Optional Redemption Surrendered for Exchange in Connection with an Optional Redemption. 
 (a)    If a
Holder elects to exchange its Notes in connection with a Notice of Optional Redemption pursuant to Section 14.01(b)(v) and this Article 16, the Exchange Rate will be increased by a number of Additional Shares as described in this
Section 16.06. An exchange of Notes shall be deemed to be “in connection with” a Notice of Optional Redemption if the relevant Exchange Date occurs during the period from the open of business on the Redemption Notice Date to the close
of business on the second Scheduled Trading Day immediately preceding the Optional Redemption Date or, if the Company fails to pay the Redemption Price, such later date on which the Company pays or duly provides for the Redemption Price. 

  
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 (b)    The number of Additional Shares, if any, by which the Exchange
Rate shall be increased pursuant to this Section 16.06 if a Holder elects to exchange its Notes in connection with a Notice of Optional Redemption shall be determined by reference to the table set forth in Section 14.03(e) based on the
Redemption Notice Date and the Redemption Reference Price, but determined for purposes of this Section 16.06 as if (i) the Holder had elected to exchange its Notes in connection with a Make-Whole Fundamental Change, (ii) the
Redemption Notice Date were the Effective Date of the relevant Make-Whole Fundamental Change and (iii) the Redemption Reference Price were the Stock Price in respect of such Make-Whole Fundamental Change. 

ARTICLE 17 

MISCELLANEOUS PROVISIONS 

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

Section 17.02. Official Acts by Successor Entity. Any act or proceeding by any provision of this Indenture authorized or
required to be done or performed by any board, committee or Officer of the Company or the Guarantor shall and may be done and performed with like force and effect by the like board, committee or officer of any corporation or other entity that shall
at the time be the lawful sole successor of the Company or the Guarantor, as the case may be. 
 Section 17.03. Addresses for
Notices, Etc. Any notice or demand that by any provision of this Indenture is required or permitted to be given or served by the Trustee or by the Holders on the Company or the Guarantor shall be in writing (including facsimile and electronic
mail in PDF format) and shall be deemed to have been sufficiently given or made, for all purposes if given or served by being deposited postage prepaid by registered or certified mail in a post office letter box addressed (until another address is
furnished by the Company or the Guarantor to the Trustee) 40 Burton Hills Blvd., Suite 415, Nashville, TN 37215, Attention: Paul Maple, e-mail (pmaple@i3Verticals.com), with a copy to Bass, Berry &
Sims PLC, Attention: J. Page Davidson and Jay Knight, telecopy (615) 742-2753, pdavidson@bassberry.com and jknight@bassberry.com. Any notice, direction, request or demand hereunder to or upon the Trustee shall
be in writing (including facsimile and electronic mail in PDF format) and shall be deemed to have been sufficiently given or made, for all purposes, if given or served by being deposited postage prepaid by registered or certified mail in a post
office letter box addressed to the Corporate Trust Office. 
 The Trustee, by notice to the Company, may designate additional or different
addresses for subsequent notices or communications. 
 Any notice or communication delivered or to be delivered to a Holder of Certificated
Notes shall be mailed to it by first class mail, postage prepaid, at its address as it appears on the 

  
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Note Register and shall be sufficiently given to it if so mailed within the time prescribed. Any notice or communication delivered or to be delivered to a Holder of Global Notes shall be
delivered in accordance with the Applicable Procedures of the Depositary and shall be sufficiently given to it if so delivered within the time prescribed. 

Failure to send a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. If a
notice or communication is sent in the manner provided above, it is duly given, whether or not the addressee receives it. 
 In case by
reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice to Holders by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient
notification for every purpose hereunder. 
 In addition to the foregoing, the Trustee agrees to accept and act upon notice, instructions or
directions pursuant to this Indenture sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods. If the party elects to give the Trustee
e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such instructions
shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or
are inconsistent with a subsequent written instruction. The party providing electronic instructions agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without
limitation the risk of the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties. 

Section 17.04. Governing Law. THIS INDENTURE, EACH NOTE AND THE GUARANTEE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING
UNDER OR RELATED TO THIS INDENTURE, EACH NOTE AND THE GUARANTEE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

Section 17.05. Intentionally Omitted.  

Section 17.06. Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee. Upon any
application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company shall furnish to the Trustee an Officer’s Certificate and Opinion of Counsel stating that in the opinion of the
signors, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action have been satisfied. 

Each Officer’s Certificate and Opinion of Counsel provided for, by or on behalf of the Company in this Indenture and delivered to the
Trustee with respect to compliance with this Indenture (other than the Officer’s Certificates provided for in Section 4.09) shall include (i) a statement that the Person making such certificate has read such covenant or condition;
(ii) a brief statement as to the nature and scope of the examination or investigation upon which the 

  
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statement contained in such certificate is based; (iii) a statement that, in the judgment of such person, he or she has made such examination or investigation as is necessary to enable him
or her to express an informed judgment as to whether or not such covenant or condition has been complied with; and (iv) a statement as to whether or not, in the judgment of such Person, such covenant or condition has been complied with. 

Notwithstanding anything to the contrary in this Section 17.06, if any provision in this Indenture specifically provides that the Trustee
shall or may receive an Opinion of Counsel in connection with any action to be taken by the Trustee or the Company hereunder, the Trustee shall be entitled to such Opinion of Counsel. 

Section 17.07. Legal Holidays. If any Interest Payment Date, any Fundamental Change Repurchase Date, any Optional
Redemption Date or the Maturity Date is not a Business Day, then any action to be taken on such date need not be taken on such date, but may be taken on the next succeeding Business Day with the same force and effect as if taken on such date, and no
interest shall accrue in respect of the delay. 
 Section 17.08. No Security Interest Created. Nothing in this Indenture
or in the Notes, expressed or implied, shall be construed to constitute a security interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any jurisdiction. 

Section 17.09. Benefits of Indenture. Nothing in this Indenture or in the Notes, expressed or implied, shall give to any
Person, other than the parties hereto, any Paying Agent, any Custodian, any Bid Solicitation Agent, any Exchange Agent, any authenticating agent, any Note Registrar and their successors hereunder or the Holders, any benefit or any legal or equitable
right, remedy or claim under this Indenture. 
 Section 17.10. Table of Contents, Headings, Etc. The table of contents and the
titles and headings of the articles and sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 

Section 17.11. Authenticating Agent. The Trustee may appoint an authenticating agent that shall be authorized to act on its
behalf and subject to its direction in the authentication and delivery of Notes in connection with the original issuance thereof and transfers and exchanges of Notes hereunder, including under Section 2.04, Section 2.05, Section 2.06,
Section 2.07, Section 10.04 and Section 15.04 as fully to all intents and purposes as though the authenticating agent had been expressly authorized by this Indenture and those Sections to authenticate and deliver Notes. For all
purposes of this Indenture, the authentication and delivery of Notes by the authenticating agent shall be deemed to be authentication and delivery of such Notes “by the Trustee” and a certificate of authentication executed on behalf of the
Trustee by an authenticating agent shall be deemed to satisfy any requirement hereunder or in the Notes for the Trustee’s certificate of authentication. Such authenticating agent shall at all times be a Person eligible to serve as trustee
hereunder pursuant to Section 7.08. 

  
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 Any corporation or other entity into which any authenticating agent may be merged or
converted or with which it may be consolidated, or any corporation or other entity resulting from any merger, consolidation or conversion to which any authenticating agent shall be a party, or any corporation or other entity succeeding to all or
substantially all the corporate trust business of any authenticating agent, shall be the successor of the authenticating agent hereunder, if such successor corporation or other entity is otherwise eligible under this Section 17.11, without the
execution or filing of any paper or any further act on the part of the parties hereto or the authenticating agent or such successor corporation or other entity. 

Any authenticating agent may at any time resign by giving written notice of resignation to the Trustee and to the Company. The Trustee may at
any time terminate the agency of any authenticating agent by giving written notice of termination to such authenticating agent and to the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time any
authenticating agent shall cease to be eligible under this Section, the Trustee may appoint a successor authenticating agent (which may be the Trustee), shall give written notice of such appointment to the Company and shall mail notice of such
appointment to all Holders as the names and addresses of such Holders appear on the Note Register. 
 The Company agrees to pay to the
authenticating agent from time to time reasonable compensation for its services although the Company may terminate the authenticating agent, if it determines such agent’s fees to be unreasonable. 

The provisions of Section 7.02, Section 7.03, Section 7.04, Section 7.06, Section 8.03 and this Section 17.11
shall be applicable to any authenticating agent. 
 If an authenticating agent is appointed pursuant to this Section 17.11, the Notes
may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternative certificate of authentication in the following form: 

                    , 

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

in the within-named Indenture. 
  

			
	By:	 	
                     

	Authorized Officer

 Section 17.12. Execution in Counterparts. This Indenture may be executed in any number of
counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute
effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original
signatures for all purposes. 
 Section 17.13. Severability. In the event any provision of this Indenture or in the Notes
shall be invalid, illegal or unenforceable, then (to the extent permitted by law) the validity, legality or enforceability of the remaining provisions shall not in any way be affected or impaired. 

  
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 Section 17.14. Waiver of Jury Trial; Submission of Jurisdiction. EACH OF
THE COMPANY, THE GUARANTOR AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES, THE
GUARANTEE OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH OF THE COMPANY AND THE GUARANTOR HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY NEW YORK STATE COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK OR ANY FEDERAL COURT
SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES AND THE GUARANTEE, AND IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY,
GENERALLY AND UNCONDITIONALLY, JURISDICTION OF THE AFORESAID COURTS. 
 Section 17.15. Force Majeure. In no event shall
the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages,
accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being
understood that the Trustee shall use reasonable efforts that are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

Section 17.16. Calculations. Except as otherwise provided herein, the Company shall be responsible for making all calculations
called for under the Notes or this Indenture. These calculations include, but are not limited to, determinations of the Stock Price or Trading Price, the Last Reported Sale Prices per share of Common Stock, the Redemption Price, the Redemption
Reference Price, the Fundamental Change Repurchase Price, the Exchange Price, the Daily VWAPs, the Daily Exchange Values, the Daily Settlement Amounts, accrued interest payable on the Notes (including Additional Interest and Registration Default
Additional Interest) and the Exchange Rate of the Notes. The Company shall make all these calculations in good faith and, absent manifest error, such calculations shall be final and binding on Holders of Notes. The Company shall provide a schedule
of its calculations to each of the Trustee and the Exchange Agent, and each of the Trustee and Exchange Agent is entitled to rely conclusively upon the accuracy of such calculations without independent verification. The Trustee will forward the
Company’s calculations to any Holder of Notes upon the written request of that Holder at the sole cost and expense of the Company. In no event shall the Trustee or the Exchange Agent be charged with knowledge of or have any duty to monitor
Stock Price or Observation Period. Neither the Trustee nor the Exchange Agent shall have any liability or responsibility for calculations, information relating to any calculation or determinations of amounts (other than as expressly provided with
respect to its role as Bid Solicitation Agent), determining whether events requiring or permitting exchanges have occurred, determining whether any adjustment is required to be made with respect to exchange rights and, if so, how much, or for the
delivery of shares of Common Stock. 

  
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 Section 17.17. U.S.A. Patriot Act. In order to comply with the laws,
rules, regulations and executive orders in effect from time to time applicable to banking institutions, including, without limitation, those relating to the funding of terrorist activities and money laundering, pursuant to Section 326 of the
USA PATRIOT Act of the United States (“Applicable Law”), the Trustee is required to obtain, verify, record and up-date certain information relating to individuals and entities which maintain a
business relationship with the Trustee. Accordingly, each of the parties agrees to provide to the Trustee, upon its re-quest from time to time such identifying information and documentation as may be available
for such party in order to enable the Trustee to comply with the Applicable Law. 
 Section 17.18. Tax Withholding.
Notwithstanding any other provision of this Indenture, the Trustee shall be entitled to make a deduction or withholding from any payment which it makes under this Indenture for or on account of any present or future taxes, duties or charges if
and to the extent so required by any applicable law and any current or future regulations or agreements thereunder or official interpretations thereof or any law implementing an intergovernmental approach thereto or by virtue of the relevant Holder
failing to satisfy any certification or other requirements in respect of the Notes, in which event the Trustee shall make such payment after such withholding or deduction has been made and shall account to the relevant authorities for the amount so
withheld or deducted and shall have no obligation to gross up any payment hereunder or pay any additional amount as a result of such withholding tax. 

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

					
	ISSUER:
	
	I3 VERTICALS, LLC
		
	By:	 	 /s/ Clay Whitson

		 	Name:	  	Clay Whitson
		 	Title:	  	Chief Financial Officer

  
 [Signature Page to
Indenture] 

 
					
	 GUARANTOR:

	
	 I3 VERTICALS, INC.

		
	By:	 	 /s/ Clay Whitson

		 	Name:	 	Clay Whitson
		 	Title:	 	Chief Financial Officer

  
 [Signature Page to
Indenture] 

 
					
	U.S. BANK NATIONAL
	ASSOCIATION, as Trustee
		
	By:	 	 /s/ Connie Jaco

		 	Name:	 	Connie Jaco
		 	Title:	 	Vice President

  
 [Signature Page to
Indenture] 

 EXHIBIT A 

[FORM OF FACE OF NOTE] 
 [INCLUDE
FOLLOWING LEGEND IF A GLOBAL NOTE] 
 [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.] 
 [INCLUDE FOLLOWING LEGEND IF A RESTRICTED
SECURITY: 
 THIS SECURITY AND THE SHARES OF COMMON STOCK, IF ANY, DELIVERABLE UPON EXCHANGE OF THIS SECURITY HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN,
THE ACQUIRER: 
 (1)    REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL
BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT AND THAT IT AND ANY SUCH ACCOUNT IS NOT AN AFFILIATE OF I3 VERTICALS, INC. (THE
“GUARANTOR”), AND 
 (2)    AGREES FOR THE BENEFIT OF THE GUARANTOR AND I3 VERTICALS, LLC (THE
“COMPANY”) THAT IT WILL NOT (X) OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN, EXCEPT: 

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

  
 Exhibit A-1 

 (B)     TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A
UNDER THE SECURITIES ACT THAT IS NOT AN AFFILIATE OF THE GUARANTOR. 
 NO AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF THE
GUARANTOR OR THE COMPANY AND NO PERSON THAT HAS BEEN AN AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF THE GUARANTOR OR THE COMPANY DURING THE THREE IMMEDIATELY PRECEDING MONTHS MAY PURCHASE, OTHERWISE ACQUIRE OR OWN THIS SECURITY OR
A BENEFICIAL INTEREST HEREIN.] 

  
 Exhibit A-2 

 I3 VERTICALS, LLC. 

1.00% Exchangeable Senior Note due 2025 
  

			
	No. A-[                    ]	  	[Initially]1 $[            ]           
                     

 CUSIP No. 44933T AA4 

i3 Verticals, LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (the
“Company,” which term includes any successor corporation or other entity under the Indenture referred to on the reverse hereof), for value received hereby promises to pay to [CEDE & CO.]2 [                    ]3, or registered
assigns, the principal amount [as set forth in the “Schedule of Exchanges of Notes” attached hereto]4 [of $[        ]]5 or such other amount as reflected on the books and records of the Trustee and the Depositary, on February 15, 2025 and interest thereon as set forth below. 

This Note shall bear interest at the rate of 1.00% per year from February 18, 2020 or from the most recent date to which interest had
been paid or provided for to, but excluding, the next scheduled Interest Payment Date until February 15, 2025, unless earlier exchanged, redeemed or repurchased. Accrued interest on this Note shall be computed on the basis of a 360-day year composed of twelve 30-day months and, for a partial month, on the basis of the number of days actually elapsed in a 30-day
month. Interest is payable semi-annually in arrears on each February 15 and August 15, commencing on August 15, 2020, to Holders of record at the close of business on the preceding February 1 and August 1 (whether or not
such day is a Business Day), respectively. Additional Interest will be payable as set forth in Section 4.06(d) and Section 6.03 of the within-mentioned Indenture, and any reference to interest on, or in respect of, any Note therein shall
be deemed to include Additional Interest if, in such context, Additional Interest is, was or would be payable pursuant to any of such Section 4.06(d) or Section 6.03, and any express mention of the payment of Additional Interest in any
provision therein and herein shall not be construed as excluding Additional Interest in those provisions thereof and hereof where such express mention is not made. 

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

The Company shall pay the principal of and interest on this Note, so long as such Note is a Global Note, in immediately available funds to the
Depositary or its nominee, as the case may 
  

	1 	 Include if a global note. 

	2 	 Include if a global note. 

	3 	 Include if a certificated note. 

	4 	 Include if a global note. 

	5 	 Include if a certificated note. 

  
 Exhibit A-3 

 
be, as the registered Holder of such Note. As provided in and subject to the provisions of the Indenture, the Company shall pay the principal of any Notes (other than Notes that are Global Notes)
upon presentation thereof at the office or agency designated by the Company for that purpose. The Company has initially designated the Trustee as its Paying Agent and Note Registrar in respect of the Notes and its agency in the continental United
States as a place where Notes may be presented for payment or for registration of transfer. 
 Upon exchange of any Note, the Company shall,
at its election, pay or deliver, as the case may be, cash, shares of Common Stock, or a combination of cash and shares of Common Stock. 

Reference is made to the further provisions of this Note set forth on the reverse hereof. Such further provisions shall for all purposes have
the same effect as though fully set forth at this place. 
 This Note, and any claim, controversy or dispute arising under or related to
this Note, shall be construed in accordance with and governed by the laws of the State of New York. 
 In the case of any conflict
between this Note and the Indenture, the provisions of the Indenture shall control and govern. 
 This Note shall not be valid or become
obligatory for any purpose until the certificate of authentication hereon shall have been manually signed by the Trustee or a duly authorized authenticating agent under the Indenture. 

[Remainder of page intentionally left blank] 

  
 Exhibit A-4 

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

 

			
	I3 VERTICALS, LLC
		
	By:	 	          

		 	Name:
		 	Title:

  

			
	Dated:
	
	 TRUSTEE’S CERTIFICATE OF AUTHENTICATION

U.S. Bank National Association, as Trustee,

	 certifies that this is one of the Notes described

in the within-named Indenture.

		
	By:	 	  

		 	Authorized Signatory

  
 Exhibit A-5 

 [FORM OF REVERSE OF NOTE] 

I3 VERTICALS, LLC 
 1.00%
Exchangeable Senior Note due 2025 
 This Note is one of a duly authorized issue of Notes of the Company, designated as its 1.00%
Exchangeable Senior Notes due 2025 (the “Notes”), limited to the aggregate principal amount of $138,000,000 all issued under and pursuant to an Indenture dated as of February 18, 2020 (the “Indenture”), among
the Company, the Guarantor and U.S. Bank National Association, as trustee (the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights,
obligations, duties and immunities thereunder of the Trustee, the Exchange Agent, the Company and the Holders of the Notes. Additional Notes may be issued in an unlimited aggregate principal amount, subject to certain conditions specified in the
Indenture. The Notes represent the aggregate principal amount of outstanding Notes from time to time endorsed hereon and the aggregate principal amount of outstanding Notes represented hereby may from time to time be increased or reduced to reflect
repurchases, cancellations, exchanges for cash, shares of Common Stock or a combination thereof, transfers or exchanges permitted by the Indenture. 

In case an Event of Default, as defined in the Indenture, shall have occurred and be continuing, the principal of, and interest on, all Notes
may be declared, by either the Trustee or Holders of at least 25% in aggregate principal amount of Notes then outstanding, and upon said declaration shall become, due and payable, in the manner, with the effect and subject to the conditions and
certain exceptions set forth in the Indenture. In the case certain Events of Default relating to a bankruptcy (or similar proceeding) with respect to the Guarantor or the Company shall have occurred, the principal of, and interest on, all Notes
shall automatically become immediately due and payable, as set forth in the Indenture. 
 Subject to the terms and conditions of the
Indenture, the Company will make all payments and deliveries in respect of the Redemption Price on an Optional Redemption Date and the Fundamental Change Repurchase Price on the Fundamental Change Repurchase Date and the principal amount on the
Maturity Date, as the case may be, to the Holder who surrenders a Note to a Paying Agent to collect such payments in respect of the Note. The Company will pay cash amounts in money of the United States that at the time of payment is legal tender for
payment of public and private debts. Upon exchange of any Note, the Company shall, at its election, pay or deliver, as the case may be, cash, shares of Common Stock or a combination of cash and shares of Common Stock. 

The Indenture contains provisions permitting the Company, the Guarantor and the Trustee in certain circumstances, without the consent of the
Holders of the Notes, and in certain other circumstances, with the consent of the Holders of not less than a majority in aggregate principal amount of the Notes at the time outstanding, evidenced as in the Indenture provided, to execute supplemental
indentures modifying the terms of the Indenture and the Notes as described therein. It is also provided in the Indenture that, subject to certain exceptions, the Holders of a majority in aggregate principal amount of the Notes at the time
outstanding may on behalf of the Holders of all of the Notes waive any past Default or Event of Default under the Indenture and its consequences. 

  
 Exhibit A-6 

 No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal (including the Redemption Price and Fundamental Change Repurchase Price, if applicable) of or the consideration due upon exchange for, as the
case may be, and accrued and unpaid interest on this Note at the place, at the respective times, at the rate and in the lawful money herein prescribed. 

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

The Notes are not subject to redemption through the operation of any sinking fund. Under certain circumstances specified in the Indenture, the
Notes will be subject to redemption by the Company at the Redemption Price. 
 Upon the occurrence of a Fundamental Change, the Holder has
the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s Notes or any portion thereof (in principal amounts of $1,000 or integral multiples thereof) on the Fundamental Change Repurchase Date at
a price equal to the Fundamental Change Repurchase Price. 
 Subject to the provisions of the Indenture, the Holder hereof has the right, at
its option, during certain periods and upon the occurrence of certain conditions specified in the Indenture, prior to the close of business on the second Scheduled Trading Day immediately preceding the Maturity Date, to exchange any Notes or portion
thereof that is $1,000 or an integral multiple of $1,000 in excess thereof at the Exchange Rate specified in the Indenture, as adjusted from time to time as provided in the Indenture. 

In addition to the rights provided to Holders of Notes under the Indenture, Holders shall have all the rights set forth in the Registration
Rights Agreement, dated as of February 18, 2020, among the Company, the Guarantor and BofA Securities, Inc., as the representative of the Initial Purchasers. 

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

  
 Exhibit A-7 

 ABBREVIATIONS 

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

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

  
 Exhibit A-8 

 SCHEDULE A6 

SCHEDULE OF EXCHANGES OF NOTES 

i3 Verticals, LLC. 
 1.00%
Exchangeable Senior Notes due 2025 
 The initial principal amount of this Global Note is ___________ DOLLARS ($[______]). The following
increases or decreases in this Global Note have been made: 
  

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

  
  

	6 	 Include if a global note. 

  
 Exhibit A-9 

 ATTACHMENT 1 

[FORM OF NOTICE OF EXCHANGE] 
 To:
    i3 Verticals, LLC. 
 U.S. Bank National Association, as Exchange Agent 

The undersigned registered owner of this Note hereby exercises the option to exchange this Note, or the portion hereof (that is $1,000
principal amount or an integral multiple of $1,000 in excess thereof) below designated, into cash, shares of Common Stock or a combination of cash and shares of Common Stock, at the Company’s election, in accordance with the terms of the
Indenture referred to in this Note, and directs that any cash payable and any shares of Common Stock deliverable upon such exchange, together with any cash payable for any fractional share, and any Notes representing any unexchanged principal amount
hereof, be issued and delivered to the registered Holder hereof unless a different name has been indicated below. 
 If any shares of Common
Stock or any portion of this Note not exchanged are to be issued in the name of a Person other than the undersigned, the undersigned will pay all documentary, stamp or similar issue or transfer taxes, if any in accordance with Section 14.02(d)
and Section 14.02(e) of the Indenture. Any amount required to be paid to the undersigned on account of interest accompanies this Note. 

In the case of Certificated Notes, the certificate numbers of the Notes to be exchanged are as set forth below:
                     
  

							
	Dated:                     	 		 		 	  

				
		 		 		 	  

		 		 		 	Signature(s)

  

	
	
	  

	Signature Guarantee
	
	 Signature(s) must be guaranteed
 by an eligible
Guarantor Institution
 (banks, stock brokers, savings and
 loan
associations and credit unions)
 with membership in an approved

signature guarantee medallion program

pursuant to Securities and Exchange

  
 Exhibit A-10 

 Commission Rule 17Ad-15 if shares of Common Stock are to 

	
	 be delivered, or
 Notes are to be delivered,
other than
 to and in the name of the registered holder.

	
	 Fill in for registration of shares of Common Stock if

to be issued, and Notes if to
 be delivered, other than to and in
the
 name of the registered holder:

	
	  

	(Name)
	
	  

	(Street Address)
	
	  

	(City, State and Zip Code)
	Please print name and address

  

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

	 Social Security or Other Taxpayer

Identification Number

  
 Exhibit A-11 

 ATTACHMENT 2 

[FORM OF FUNDAMENTAL CHANGE REPURCHASE NOTICE] 

To: i3 Verticals, LLC 
 The undersigned
registered owner of this Note hereby acknowledges receipt of a notice from i3 Verticals, LLC (the “Company”) as to the occurrence of a Fundamental Change with respect to the Company and specifying the Fundamental Change Repurchase
Date and requests and instructs the Company to pay to the registered holder hereof in accordance with Section 15.02 of the Indenture referred to in this Note (1) the entire principal amount of this Note, or the portion thereof (that is
$1,000 principal amount or an integral multiple of $1,000 in excess thereof) below designated, and (2) if such Fundamental Change Repurchase Date does not fall during the period after a Regular Record Date and on or prior to the corresponding
Interest Payment Date, accrued and unpaid interest, if any, thereon to, but excluding, such Fundamental Change Repurchase Date. 
 In the
case of Certificated Notes, the certificate numbers of the Notes to be repurchased are as set forth below:                      

Dated:                      

 

	
	  

	Signature(s)
	
	  

	 Social Security or Other Taxpayer

Identification Number

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

  
 Exhibit A-12 

 ATTACHMENT 3 

[FORM OF ASSIGNMENT AND TRANSFER] 
 For value
received                      hereby sell(s), assign(s) and transfer(s) unto
                     (Please insert social security or Taxpayer Identification Number of assignee) the within Note, and hereby irrevocably
constitutes and appoints                      attorney to transfer the said Note on the books of the Company, with full power of substitution in the
premises. 
 In connection with any transfer of the within Note, the undersigned confirms that such Note is being transferred: 

☐    To i3 Verticals, Inc. or a Subsidiary thereof (including i3 Verticals, LLC); or 

☐    Pursuant to and in compliance with Rule 144A under the Securities Act of 1933, as amended. 

  
 Exhibit A-13 

	
	Dated:                     
	
	  

	
	  

	Signature(s)
	
	  

	Signature Guarantee
	
	 Signature(s) must be guaranteed by an
 eligible
Guarantor Institution (banks, stock
 brokers, savings and loan associations and

credit unions) with membership in an approved
 signature guarantee
medallion program pursuant
 to Securities and Exchange Commission

Rule 17Ad-15 if Notes are to be delivered, other

than to and in the name of the registered holder.

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

  
 Exhibit A-14EX-10.1

 Exhibit 10.1 

SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

THIS SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”), dated as of February 18, 2020 is
entered into by and among I3 VERTICALS, LLC, a Delaware limited liability company (the “Borrower”), the Guarantors party hereto, the Lenders party hereto and BANK OF AMERICA, N.A., as Administrative Agent. 

RECITALS 
 WHEREAS, the
Borrower, HoldCo, the Guarantors, the Lenders and Bank of America, N.A., as Administrative Agent, Swingline Lender and L/C Issuer, entered into that certain Amended and Restated Credit Agreement dated as of May 9, 2019 (as amended, modified,
supplemented or extended from time to time, the “Credit Agreement”); 
 WHEREAS, the Borrower has requested that the
Administrative Agent and the Lenders amend the Credit Agreement as contemplated hereby; and 
 WHEREAS, the Administrative Agent and the
Required Lenders are willing to amend the Credit Agreement, subject to the terms and conditions set forth below. 
 NOW, THEREFORE, in
consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1.    Introductory Paragraph and Recitals. The above introductory paragraph and recitals of this Agreement are
incorporated herein by reference as if fully set forth herein. 
 2.    Definitions. Capitalized terms used
herein (including in the recitals hereof) and not otherwise defined herein shall have the meanings provided in the Credit Agreement. 

3.    Amendments to Credit Agreement. 

(a)    Each reference to “Bank of America Merrill Lynch” on the cover page of the Credit
Agreement is hereby amended to be a reference to “BofA Securities, Inc.” 
 (b)    The
following definitions are hereby added to Section 1.01 of the Credit Agreement in the appropriate alphabetical order to read as follows: 

“2020 Convertible Notes” means the unsecured exchangeable notes due 2025 to be issued by the Borrower, as
described in that certain Preliminary Offering Memorandum dated February 11, 2020, as completed and amended by the final Offering Memorandum with respect to such unsecured exchangeable notes and any related pricing term sheet. 

“Consolidated Senior Secured Leverage Ratio” means, as of any date of determination, the ratio of
(a) Consolidated Funded Indebtedness (other than Subordinated Debt) that is secured by a Lien (other than a Lien described in Section 7.01(m)) minus up to $10,000,000 of unrestricted cash and Cash Equivalents of
the Loan Parties as of such date to (b) Consolidated EBITDA for the most recently completed four fiscal quarters. 

 “Permitted Bond Hedge Transactions” means any call or
capped call option (or substantively equivalent derivative transaction) relating to HoldCo’s common stock (or other securities or property following a merger event, reclassification or other change of the common stock in HoldCo) purchased by
the Borrower in connection with the issuance of any Permitted Convertible Indebtedness; provided that the purchase price for such Permitted Bond Hedge Transactions, less the proceeds received by HoldCo from the sale of any related Permitted
Warrant Transactions, does not exceed the net proceeds received by the Borrower from the issuance of such Permitted Convertible Indebtedness in connection with such Permitted Bond Hedge Transactions. 

“Permitted Convertible Indebtedness” means (a) the 2020 Convertible Notes, (b) other indebtedness of
the Borrower that is convertible into common stock in HoldCo (or other securities or property following a merger event, reclassification or other change to the common stock in HoldCo), cash or a combination thereof (such amount of cash determined by
reference to the price of such common stock or such other securities or property), and cash in lieu of fractional shares of common stock and (c) the Guarantee of any of the indebtedness described in the foregoing clauses (a) and
(b) by HoldCo. 
 “Permitted Warrant Transactions” means any call option, warrant or right to
purchase (or substantively equivalent derivative transaction) relating to HoldCo’s common stock (or other securities or property following a merger event, reclassification or other change to the common stock in HoldCo) sold by HoldCo
substantially concurrently with any purchase by the Borrower of related Permitted Bond Hedge Transactions and the performance by HoldCo of its obligations thereunder. 

“Second Amendment Effective Date” shall have the meaning assigned to such term in the Second Amendment to
Amended and Restated Credit Agreement, dated as of February 18, 2020. 
 (c) The following definitions in Section 1.01 of the
Credit Agreement are hereby amended to read as follows: 
 “Aggregate Revolving Commitments” means the
Revolving Commitments of all the Lenders. The initial amount of the Aggregate Revolving Commitments in effect on the Second Amendment Effective Date is $275,000,000. 

“Arranger” means BofA Securities, Inc., in its capacity as a joint lead arranger and joint bookrunner. 

“Change of Control” means an event or series of events by which: 

(a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange
Act of 1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) other than a Permitted Holder becomes
the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to have
“beneficial ownership” of all Equity Interests that such person or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time (such right, an “option right”)), directly or
indirectly, of Voting Stock of HoldCo representing thirty-five percent (35%) or more of the combined voting power of all Voting Stock of HoldCo on a fully diluted basis (and taking into account all such securities that such person or group has the
right to acquire pursuant to any option right); or 

  
 2 

 (b)    during any period of twenty-four
(24) consecutive months, a majority of the members of the board of directors or other equivalent governing body of HoldCo cease to be composed of individuals (x) who were members of that board or equivalent governing body on the first day
of such period, (y) whose election or nomination to that board or equivalent governing body was approved by individuals referred to in clause (x) above constituting at the time of such election or nomination at least a majority of
that board or equivalent governing body or (z) whose election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (x) and (y) above constituting at the time of
such election or nomination at least a majority of that board or equivalent governing body; or 

(c)    HoldCo shall cease to own and control, of record and beneficially, directly or indirectly, more
than 50% of the aggregate Equity Interests of the Borrower on a fully diluted basis, or the Borrower shall cease to be a manager-managed limited liability company with HoldCo as its sole direct or indirect manager. 

“Consolidated Funded Indebtedness” means, as of any date of determination with respect to HoldCo and its
Subsidiaries on a consolidated basis, without duplication, the sum of: (a) the outstanding principal amount of all obligations for borrowed money (including Obligations) and all obligations evidenced by bonds, debentures, notes, loan agreements
or other similar instruments; (b) the maximum amount available to be drawn under issued and outstanding letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments;
(c) all obligations in respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business); (d) all purchase money Indebtedness; (e) all Attributable Indebtedness;
(f) all obligations to purchase, redeem, retire, defease or otherwise make any payment prior to the Maturity Date in respect of any Equity Interests or any warrant, right or option to acquire such Equity Interest, valued, in the case of a
redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends; (g) all Guarantees with respect to Indebtedness of the types specified in clauses
(a) through (f) above of another Person; and (h) all Indebtedness of the types referred to in clauses (a) through (g) above of any partnership or joint venture (other than a joint venture that is itself a
corporation or limited liability company) in which any Loan Party or any Subsidiary is a general partner or joint venturer, except to the extent that Indebtedness is expressly made non-recourse to such Person.
For the avoidance of doubt, “Consolidated Funded Indebtedness” shall not include Permitted Bond Hedge Transactions or Permitted Warrant Transactions. 

“Consolidated Interest Coverage Ratio” means, as of any date of determination, the ratio of
(a) Consolidated EBITDA for the most recently completed four fiscal quarters to (b) Consolidated Interest Charges (excluding (i) non-cash interest expense relating to Permitted
Convertible Indebtedness and (ii) amounts paid on or about the Second Amendment Effective Date in connection with the Permitted Bond Hedge Transactions using the proceeds from the issuance of the 2020 Convertible Notes) for the most recently
completed four fiscal quarters. 

  
 3 

 “Equity Interests” means, with respect to any Person, all
of the shares of capital stock of (or other ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit
interests in) such Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person (but only after such conversion) or warrants, rights or options for the purchase
or acquisition from such Person of such shares (or such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not
such shares, warrants, options, rights or other interests are outstanding on any date of determination. For the avoidance of doubt, “Equity Interests” shall not include Permitted Convertible Indebtedness, Permitted Bond Hedge Transactions
or Permitted Warrant Transactions. 
 “Indebtedness” means, as to any Person at a particular time, without
duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP: 
 (a)
all obligations for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments; 

(b) the maximum amount of all direct or contingent obligations arising under letters of credit (including standby and
commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; 
 (c) the Swap Termination
Value of any Swap Contract; 
 (d) all obligations to pay the deferred purchase price of property or services (including
earn out obligations) (other than trade accounts payable in the ordinary course of business); 
 (e) indebtedness (excluding
prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by
such Person or is limited in recourse; 
 (f) all Attributable Indebtedness; 

(g) all obligations to purchase, redeem, retire, defease or otherwise make any payment prior to the Maturity Date in respect
of any Equity Interests or any warrant, right or option to acquire such Equity Interest, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends;

 (h) all Guarantees of such Person in respect of any of the foregoing; and 

(i) all Indebtedness of the types referred to in clauses (a) through (h) above of any partnership or joint
venture (other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or joint venturer, unless such Indebtedness is expressly made
non-recourse to such Person; 

  
 4 

 provided, that the term “Indebtedness” shall not include obligations in
connection with the Tax Receivable Agreement, any Permitted Bond Hedge Transactions or any Permitted Warrant Transactions. 

“Obligations” means with respect to each Loan Party (i) all advances to, and debts, liabilities,
obligations, covenants and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, (ii) all obligations of any Loan Party or any Subsidiary owing to a Cash Management Bank or a
Hedge Bank in respect of Secured Cash Management Agreements or Secured Hedge Agreements, and (iii) all reasonable costs and expenses incurred in connection with enforcement and collection of the foregoing, including reasonable fees, charges and
disbursements of counsel, in each case whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest, expenses and fees that accrue after
the commencement by or against any Loan Party or any Affiliate thereof pursuant to any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest, expenses and fees are allowed
claims in such proceeding; provided, however, that without limiting the foregoing, (i) the “Obligations” of a Loan Party shall exclude any Excluded Swap Obligations with respect to such Loan Party and (ii) for the
avoidance of doubt, “Obligations” shall not include Permitted Convertible Indebtedness, Permitted Bond Hedge Transactions or Permitted Warrant Transactions. 

“Restricted Payment” means (a) any dividend or other distribution (whether in cash, securities or other
property) with respect to any Equity Interests of any Person, (b) any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, defeasance,
acquisition, cancellation or termination of any such Equity Interests or on account of any return of capital to such Person’s stockholders, partners or members (or the equivalent Person thereof), or any option, warrant or other right to acquire
any such dividend or other distribution or payment (other than with respect to Permitted Convertible Indebtedness, Permitted Bond Hedge Transactions and Permitted Warrant Transactions), (c) any payment made in cash to holders of Permitted
Convertible Indebtedness in excess of the original principal (or notional) amount thereof and interest thereon (other than payment of customary fees, costs and expenses associated therewith), and interest on such excess amount, except to the extent
that a corresponding amount is received by the Borrower in cash (whether through a direct cash payment or a settlement in shares of stock that are promptly sold for cash) substantially contemporaneously from the other party to a Permitted Bond Hedge
Transaction relating to such Permitted Convertible Indebtedness, and (d) any cash payment made in connection with the settlement of a Permitted Warrant Transaction solely to the extent HoldCo has the option of satisfying such payment obligation
through the issuance of shares of common stock. 
 “Swap Contract” means (a) any and all rate swap
transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or
forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross- 

  
 5 

 
currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the
foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by,
any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules,
a “Master Agreement”), including any such obligations or liabilities under any Master Agreement; provided that, for the avoidance of doubt, “Swap Contract” shall not include any Permitted Convertible Indebtedness,
Permitted Bond Hedge Transactions or Permitted Warrant Transactions. 
 (d) The definition of “Consolidated Senior Leverage
Ratio” in Section 1.01 of the Credit Agreement is hereby deleted. 
 (e)    Section 1.03(c) of the Credit
Agreement is hereby amended to read as follows: 
 (c)    Calculations. Notwithstanding the
above, the parties hereto acknowledge and agree that: (i) all calculations of the financial covenants in Section 7.11 (including for purposes of determining the Applicable Rate) shall be made on a Pro Forma Basis with
respect to (w) any Disposition of all of the Equity Interests of, or all or substantially all of the assets of, a Subsidiary, (x) any Disposition of a line of business or division of any Loan Party or Subsidiary, (y) any Acquisition,
or (z) any Residual Buyout, in each case, occurring during the applicable period and (ii) for purposes of all calculations hereunder, the principal amount of Permitted Convertible Indebtedness shall be the outstanding principal (or
notional) amount thereof, valued at par. 
 (f) Section 6.11 of the Credit Agreement is hereby amended to read as follows: 

Use the proceeds of the Credit Extensions (a) to finance working capital, capital expenditures and other lawful corporate purposes,
(b) to finance Permitted Acquisitions, (c) to refinance certain existing Indebtedness and (d) to pay amounts payable upon or in respect of any conversion of Permitted Convertible Indebtedness and the repayment of any Revolving Loans
borrowed for such purposes, provided that in no event shall the proceeds of the Credit Extensions be used in contravention of any Law or of any Loan Document. 

(g) Clauses (l) and (m) in Section 7.02 of the Credit Agreement are hereby renumbered as (m) and (n), respectively, and a new
clause (l) is hereby added to read as follows: 
 (l) Investments consisting of Permitted Bond Hedge Transactions and
Permitted Warrant Transactions entered into in connection with Permitted Convertible Indebtedness, and the performance of its obligations thereunder; 

(h) Section 7.03(f) of the Credit Agreement is hereby amended to read as follows: 

(f) (i) the 2020 Convertible Notes; provided, that (A) no Default or Event of Default shall exist immediately
before or immediately after giving effect thereto on a Pro Forma Basis, and (B) the Borrower shall have delivered a certificate from a Responsible Officer in form and detail reasonably satisfactory to the Administrative Agent confirming the
foregoing and demonstrating compliance with the financial covenants after giving 

  
 6 

 
effect thereto on a Pro Forma Basis; and (ii) Subordinated Debt or unsecured Indebtedness (including, for the avoidance of doubt, Permitted Convertible Indebtedness, but excluding the 2020
Convertible Notes) and any refinancing in respect thereof; provided, that (A) no Default or Event of Default shall exist immediately before or immediately after giving effect thereto on a Pro Forma Basis, (B) the Borrower shall
deliver a certificate from a Responsible Officer in form and detail reasonably satisfactory to the Administrative Agent confirming the foregoing and demonstrating compliance with the financial covenants after giving effect thereto on a Pro Forma
Basis, (C) such Indebtedness is not at any time guaranteed by any Subsidiary that is not a Guarantor; and (D) no such Indebtedness shall (x) have a scheduled maturity or require any regularly scheduled amortization payment to be made
prior to the date that is 91 days after the Maturity Date or (y) be subject to any mandatory redemption, mandatory repurchase or other mandatory prepayments of principal (including, in the case of Permitted Convertible Indebtedness, early
conversion triggers) other than those that, in the Borrower’s good faith judgment, are customary for Subordinated Debt or unsecured Indebtedness, as applicable; 

(i) Section 7.05 of the Credit Agreement is hereby amended by (i) “deleting the “and” at the end of Section 7.05(a),
(ii) renumbering clause (b) as clause (c) and (iii) adding a new clause (b) immediately following clause (a) therein to read as follows: 

(b)    Permitted Warrant Transactions; and 

(j) Section 7.06 of the Credit Agreement is hereby amended by deleting “and” at the end of Section 7.06(e), replacing the
“.” at the end of Section 7.06(f) with a “; and” and to add the following new clauses (g), (h), and (i) to read as follows: 

(g) (i) the Borrower may make any payment of premium to a counterparty under a Permitted Bond Hedge Transaction;
(ii) the Borrower may make any payment in cash to holders of the 2020 Convertible Notes in excess of the original principal (or notional) amount thereof and interest thereon, and interest on such excess amount; (iii) HoldCo may deliver
shares of HoldCo’s common stock in net share settlement of any Permitted Warrant Transaction upon the exercise and settlement or termination of such Permitted Warrant Transaction; and (iv) HoldCo may make any payment in cash (including by set-off) upon the exercise and settlement or termination of the Permitted Warrant Transaction related to the 2020 Convertible Notes; provided, that, in the case of clauses (ii) and (iv), (A) no Default
or Event of Default shall exist immediately before or immediately after giving effect thereto on a Pro Forma Basis, and (B) the Borrower shall deliver a certificate from a Responsible Officer in form and detail reasonably satisfactory to the
Administrative Agent confirming the foregoing and demonstrating compliance with the financial covenants after giving effect thereto on a Pro Forma Basis; 

(h) the Borrower or HoldCo may deliver or cause to be delivered shares of HoldCo’s common stock to satisfy obligations in
respect of Permitted Convertible Indebtedness; and 
 (i) the Borrower or HoldCo may receive shares of HoldCo’s common
stock on account of net share settlements or terminations of any Permitted Bond Hedge Transactions. 
 (k) Section 7.11 of
the Credit Agreement is hereby amended to read as follows: 

  
 7 

 7.11    Financial Covenants. 

(a)    Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage
Ratio as of the end of any fiscal quarter of HoldCo to be greater than 3.25 to 1.00; provided, that for each of the four (4) fiscal quarters immediately following a Qualified Acquisition, commencing with the fiscal quarter in which such
Qualified Acquisition was consummated (such period of increase, the “Leverage Increase Period”), the required ratio set forth above shall be increased by up to 0.25; provided, further that (i) there shall be no
more than three (3) Leverage Increase Periods during the term of this Agreement, (ii) there shall be no more than one (1) Leverage Increase Period in effect at any time with respect to this Section 7.11(a),
(iii) the maximum Consolidated Senior Secured Leverage Ratio shall revert to the then-permitted ratio (without giving effect to such increase) for at least one (1) fiscal quarter before a new Leverage Increase Period may be invoked,
(iv) the Leverage Increase Period shall only apply (A) with respect to the calculation of the Consolidated Senior Secured Leverage Ratio for purposes of determining compliance with this Section 7.11(a) as of the
end of any fiscal quarter of HoldCo during such period, (B) for purposes of determining compliance with this Section 7.11(a) on Pro Forma Basis to determine if an Acquisition is a Permitted Acquisition and (C) for
purpose of determining compliance with this Section 7.11(a) on a Pro Forma Basis to determine if an Incremental Facility Loan is permitted to be incurred and (v) for purposes of determining compliance with this
Section 7.11(a) subsequent to the Second Amendment Effective Date, any Leverage Increase Period that commenced prior to the Second Amendment Effective Date shall be disregarded. 

(b)    Consolidated Total Leverage Ratio. Permit the Consolidated Total Leverage Ratio as of the
end of any fiscal quarter of HoldCo to be greater than 5.00 to 1.00; provided, that for each Leverage Increase Period, the required ratio set forth above shall be increased by up to 0.25; provided, further that
(i) there shall be no more than three (3) Leverage Increase Periods during the term of this Agreement, (ii) there shall be no more than one (1) Leverage Increase Period in effect at any time with respect to this
Section 7.11(b), (iii) the maximum Consolidated Total Leverage Ratio shall revert to the then-permitted ratio (without giving effect to such increase) for at least one (1) fiscal quarter before a new Leverage Increase
Period may be invoked, (iv) the Leverage Increase Period shall only apply (A) with respect to the calculation of the Consolidated Total Leverage Ratio for purposes of determining compliance with this
Section 7.11(b) as of the end of any fiscal quarter of HoldCo during such period, (B) for purposes of determining compliance with this Section 7.11(b) on Pro Forma Basis to determine if
an Acquisition is a Permitted Acquisition and (C) for purpose of determining compliance with this Section 7.11(b) on a Pro Forma Basis to determine if an Incremental Facility Loan is permitted to be incurred and
(v) for purposes of determining compliance with this Section 7.11(b) subsequent to the Second Amendment Effective Date, any Leverage Increase Period that commenced prior to the Second Amendment Effective Date shall be
disregarded. 
 (c) Consolidated Interest Coverage Ratio. Permit the Consolidated Interest Coverage Ratio as of the
end of any fiscal quarter of HoldCo to be less than 3.00 to 1.00. 
 (l) Section 7.12(c) of the Credit Agreement is
hereby amended to read as follows: 
 Make (or give any notice with respect thereto) any voluntary or optional payment or
prepayment or redemption or acquisition for value of (including by way of depositing money or securities with the trustee with respect thereto before due for the purpose of 

  
 8 

 
payment when due), refund, refinance or exchange of any Indebtedness of any Loan Party or any Subsidiary other than (i) Indebtedness arising under the Loan Documents and
(ii) Indebtedness arising under any Permitted Convertible Indebtedness, Permitted Bond Hedge Transactions and Permitted Warrant Transactions, each in accordance with their terms; provided, that with respect to any voluntary or optional
payment or prepayment or redemption or acquisition for value made pursuant to this clause (ii), (A) no Default or Event of Default shall exist immediately before or immediately after giving effect thereto on a Pro Forma Basis and (B) the
Borrower shall deliver a certificate from a Responsible Officer in form and detail reasonably satisfactory to the Administrative Agent confirming the foregoing and demonstrating compliance with the financial covenants after giving effect thereto on
a Pro Forma Basis. 
 (m) Section 8.01(e) of the Credit Agreement is hereby amended to read as follows: 

(e)    Cross-Default. (i) Any Loan Party or any Subsidiary (A) fails to make any payment
when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal
amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount, or (B) fails to observe or perform any other agreement
or condition relating to any such Indebtedness or Guarantee or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit the
holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such
Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such
Guarantee to become payable or cash collateral in respect thereof to be demanded; provided that the occurrence of any event or condition that permits a conversion of any Permitted Convertible Indebtedness by the holders thereof shall not be
an Event of Default pursuant to this clause (e)(i), and provided further, that any prepayment, redemption or conversion of any Permitted Convertible Indebtedness to the extent permitted to be paid pursuant to
Section 7.06 or Section 7.12 shall not be an Event of Default pursuant to this clause (e)(i); or (ii) there occurs under any Swap Contract an Early Termination Date (as
defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which any Loan Party or any Subsidiary is the Defaulting Party (as defined in such Swap Contract) or (B) any Termination Event (as so
defined) under such Swap Contract as to which any Loan Party or any Subsidiary is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by such Loan Party or such Subsidiary as a result thereof is greater than the
Threshold Amount or (iii) there occurs under any Permitted Bond Hedge Transactions or Permitted Warrant Transactions an Early Termination Date (as defined therein) resulting from any event of default thereunder as to which the Borrower or
HoldCo, as applicable, or any of its Subsidiaries is the Defaulting Party (as defined therein) and the termination value (determined on a net basis) owed by any Loan Party or Subsidiary as a result thereof, taken together, is greater than the
Threshold Amount; or 
 (n) Section 9.07 of the Credit Agreement is hereby amended to read as follows: 

  
 9 

9.07    Non-Reliance on Administrative Agent, Lead Arrangers and
Other Lenders. 
 Each Lender and the L/C Issuer acknowledges that neither of the Administrative Agent nor any Lead
Arranger has made any representation or warranty to it, and that no act by the Administrative Agent or any Lead Arranger hereafter taken, including any consent to, and acceptance of any assignment or review of the affairs of any Loan Party or any
Affiliate thereof, shall be deemed to constitute any representation or warranty by the Administrative Agent or any Lead Arranger to any Lender or the L/C Issuer as to any matter, including whether the Administrative Agent or any Lead Arranger have
disclosed material information in their (or their Related Parties’) possession. Each Lender and the L/C Issuer represents to the Administrative Agent and each Lead Arranger that it has, independently and without reliance upon the Administrative
Agent, such Lead Arranger, any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis of, appraisal of, and investigation into, the business, prospects,
operations, property, financial and other condition and creditworthiness of the Loan Parties and their Subsidiaries, and all applicable bank or other regulatory laws relating to the transactions contemplated hereby, and made its own decision to
enter into this Agreement and to extend credit to the Borrower hereunder. Each Lender and the L/C Issuer also acknowledges that it will, independently and without reliance upon the Administrative Agent, any Lead Arranger, any other Lender or any of
their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under or based upon this Agreement,
any other Loan Document or any related agreement or any document furnished hereunder or thereunder, and to make such investigations as it deems necessary to inform itself as to the business, prospects, operations, property, financial and other
condition and creditworthiness of the Loan Parties. Each Lender and the L/C Issuer represents and warrants that (a) the Loan Documents set forth the terms of a commercial lending facility and (b) it is engaged in making, acquiring or
holding commercial loans in the ordinary course and is entering into this Agreement as a Lender or the L/C Issuer for the purpose of making, acquiring or holding commercial loans and providing other facilities set forth herein as may be applicable
to such Lender or the L/C Issuer, and not for the purpose of purchasing, acquiring or holding any other type of financial instrument, and each Lender and the L/C Issuer agrees not to assert a claim in contravention of the foregoing. Each Lender and
the L/C Issuer represents and warrants that it is sophisticated with respect to decisions to make, acquire and/or hold commercial loans and to provide other facilities set forth herein, as may be applicable to such Lender or the L/C Issuer, and
either it, or the Person exercising discretion in making its decision to make, acquire and/or hold such commercial loans or to provide such other facilities, is experienced in making, acquiring or holding such commercial loans or providing such
other facilities. 
 (o) Schedule 2.01 to the Credit Agreement is hereby deleted and replaced with Schedule 2.01 attached
hereto. 
 4.    Conditions Precedent. This Agreement shall be effective upon the occurrence of each of the
following conditions precedent: (a) receipt by the Administrative Agent of counterparts of this Agreement duly executed by the Borrower, the Guarantors, the Required Lenders and the Administrative Agent and (b) the issuance of the 2020
Convertible Notes (the “Second Amendment Effective Date”). 

  
 10 

 5.    Miscellaneous. 

(a)    This Agreement shall be deemed to be, and is, a Loan Document. 

(b)    Effective as of the Second Amendment Effective Date, all references to the Credit Agreement in each
of the Loan Documents shall hereafter mean the Credit Agreement as amended by this Amendment. 

(c)    Each Loan Party hereby (i) acknowledges and consents to all of the terms and conditions of this
Amendment, (ii) ratifies and affirms its obligations under the Loan Documents, (iii) agrees that (A) its obligations under each of the Loan Documents to which it is party shall remain in full force and effect according to their terms
except as expressly amended hereby and (B) this Amendment and all documents executed in connection herewith do not operate to reduce or discharge its obligations under the Credit Agreement or the other Loan Documents and (iv) affirms the
Liens created and granted in the Loan Documents in favor of the Administrative Agent for the benefit of the holders of the Obligations and agrees that this Amendment does not adversely affect or impair such Liens and security interests in any
manner. 
 (d)    Each Loan Party hereby represents and warrants to the Administrative Agent and the
Lenders that as of the Second Amendment Effective Date after giving effect to this Amendment (i) such Loan Party has taken all necessary action to authorize the execution, delivery and performance of this Amendment, (ii) this Amendment has
been duly executed and delivered by such Loan Party and constitutes such Loan Party’s legal, valid and binding obligations, enforceable in accordance with its terms, except as such enforceability may be subject to (A) bankruptcy,
insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting creditors’ rights generally and (B) general principles of equity (regardless of whether such enforceability is considered in a proceeding
at law or in equity), (iii) no consent, approval, authorization or order of, or filing, registration or qualification with, any court or Governmental Authority or third party is required in connection with the execution, delivery or performance by
such Loan Party of this Amendment and (iv) the representations and warranties of such Loan Party set forth in Article 5 of the Credit Agreement and in each other Loan Document are true and correct in all material respects (and in all respects
if any such representation or warranty is expressly qualified by materiality or reference to Material Adverse Effect) on and as of the Second Amendment Effective Date to the same extent as though made on and as of the Second Amendment Effective
Date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects (and in all respects if any such
representation or warranty is expressly qualified by materiality or reference to Material Adverse Effect) on and as of such earlier date. 

(e)    This Amendment may be executed in any number of counterparts, each of which when so executed and
delivered shall be an original, but all of which shall constitute one and the same instrument. Delivery of an executed counterpart of this Amendment by telecopy or other secure electronic format (.pdf) shall be effective as an original and shall
constitute a representation that an executed original shall be delivered. 
 (g)    This Amendment shall
be governed by, and construed in accordance with, the law of the State of New York. 
 [Signature pages follow] 

  
 11 

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

							
	BORROWER:	 		 	 I3 VERTICALS, LLC,
 a Delaware
limited liability company

				
		 		 	By:	 	 /s/ Clay Whitson

		 		 	Name:	 	Clay Whitson
		 		 	Title:	 	Chief Financial Officer
			
	GUARANTORS:	 		 	 I3 VERTICALS, INC., a Delaware corporation

I3 VERTICALS MANAGEMENT SERVICES, INC., a Delaware corporation

		 		 	SAN DIEGO CASH REGISTER COMPANY, INC., a California corporation
		 		 	I3-HOLDINGS SUB, INC., a Delaware corporation
				
		 		 	By:	 	 /s/ Clay Whitson

		 		 	Name:	 	Clay Whitson
		 		 	Title:	 	Chief Financial Officer
			
		 		 	CP-PS, LLC, a Delaware limited liability company
		 		 	CP-DBS, LLC, a Delaware limited liability company
		 		 	I3-RS, LLC, a Delaware limited liability company
		 		 	I3-EZPAY, LLC, a Delaware limited liability company
		 		 	I3-LL, LLC, a Delaware limited liability company
		 		 	I3-PBS, LLC, a Delaware limited liability company
		 		 	I3-INFIN, LLC, a Delaware limited liability company
		 		 	I3-BP, LLC, a Delaware limited liability company
		 		 	I3-AXIA, LLC, a Delaware limited liability company
		 		 	I3-RANDALL, LLC, a Delaware limited liability company
		 		 	I3-CSC, LLC, a Delaware limited liability company
		 		 	I3-TS, LLC, a Delaware limited liability company
		 		 	FAIRWAY PAYMENTS, LLC, a Virginia limited liability company
		 		 	I3-CS, LLC, a Delaware limited liability company
		 		 	I3-EMS, LLC, a Delaware limited liability company
		 		 	I3-EZCP, LLC, a Delaware limited liability company
				
		 		 	By:	 	I3 Verticals, LLC, as sole member of each of the foregoing
				
		 		 	By:	 	 /s/ Clay Whitson

		 		 	Name:	 	Clay Whitson
		 		 	Title:	 	Chief Financial Officer

  
 I3 VERTICALS, LLC 

SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

							
		 		 	I3-SOFTWARE & SERVICES, LLC, a Delaware limited liability company
		 		 	MONETRA TECHNOLOGIES, LLC, a Delaware limited liability company
		 		 	I3-AERO, LLC, a Delaware limited liability company
		 		 	I3-SPLASH, LLC, a Delaware limited liability company
		 		 	I3-MPN, LLC, a Delaware limited liability company
		 		 	I3-BEARCAT, LLC, a Delaware limited liability company
				
		 		 	By:	 	I3 Verticals, LLC, as sole member of each of the foregoing
				
		 		 	By:	 	 /s/ Clay Whitson

		 		 	Name:	 	Clay Whitson
		 		 	Title:	 	Chief Financial Officer
			
		 		 	PACE PAYMENT SYSTEMS, INC., a Delaware corporation
		 		 	PACE PAYMENTS, INC., a Delaware corporation
		 		 	I3-SEQUEL, LLC, a Delaware limited liability company
		 		 	AD VALOREM RECORDS, INC., a Texas corporation
				
		 		 	By:	 	 /s/ Paul Maple

		 		 	Name:	 	Paul Maple
		 		 	Title:	 	General Counsel and Secretary

  
 I3 VERTICALS, LLC 

SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

							
	ADMINISTRATIVE AGENT:	 		 	 BANK OF AMERICA, N.A.,
 as
Administrative Agent

				
		 		 	By:	 	 /s/ Christine Trotter

		 		 	Name:	 	Christine Trotter
		 		 	Title:	 	Assistant Vice President

  
 I3 VERTICALS, LLC 

SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

 Lender Signature Pages: 

[On file with Administrative Agent] 

  
 I3 VERTICALS, LLC 

SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

 Schedule 2.01 

COMMITMENTS AND APPLICABLE PERCENTAGES 

[On file with the Company]

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