Document:

EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 
  

 
  

AIR TRANSPORT SERVICES GROUP, INC. 

and 
 U.S. BANK NATIONAL
ASSOCIATION 
 as Trustee 
  

 
 INDENTURE 

Dated as of September 29, 2017 
  

 
 1.125%
Convertible Senior Notes due 2024 
  
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 Article 1. Definitions; Rules of Construction
	  	 	1	 
			
	 Section 1.01.
	 	Definitions	  	 	1	 
	 Section 1.02.
	 	Other Definitions	  	 	11	 
	 Section 1.03.
	 	Rules of Construction	  	 	11	 
		
	 Article 2. The Notes
	  	 	12	 
			
	 Section 2.01.
	 	Form, Dating and Denominations	  	 	12	 
	 Section 2.02.
	 	Execution, Authentication and Delivery	  	 	12	 
	 Section 2.03.
	 	Initial Notes and Additional Notes	  	 	13	 
	 Section 2.04.
	 	Method of Payment	  	 	14	 
	 Section 2.05.
	 	Accrual of Interest; Defaulted Amounts; When Payment Date is Not a Business Day	  	 	14	 
	 Section 2.06.
	 	Registrar, Paying Agent and Conversion Agent	  	 	15	 
	 Section 2.07.
	 	Paying Agent and Conversion Agent to Hold Property in Trust	  	 	16	 
	 Section 2.08.
	 	Holder Lists	  	 	16	 
	 Section 2.09.
	 	Legends	  	 	16	 
	 Section 2.10.
	 	Transfers and Exchanges; Certain Transfer Restrictions	  	 	17	 
	 Section 2.11.
	 	Exchange and Cancellation of Notes to Be Converted or Repurchased	  	 	22	 
	 Section 2.12.
	 	Removal of Transfer Restrictions	  	 	23	 
	 Section 2.13.
	 	Replacement Notes	  	 	23	 
	 Section 2.14.
	 	Registered Holders; Certain Rights with Respect to Global Notes	  	 	23	 
	 Section 2.15.
	 	Cancellation	  	 	24	 
	 Section 2.16.
	 	Notes Held by the Company or its Affiliates	  	 	24	 
	 Section 2.17.
	 	Temporary Notes	  	 	24	 
	 Section 2.18.
	 	Outstanding Notes	  	 	24	 
	 Section 2.19.
	 	Repurchases by the Company	  	 	25	 
	 Section 2.20.
	 	CUSIP and ISIN Numbers	  	 	25	 
		
	 Article 3. Covenants
	  	 	25	 
			
	 Section 3.01.
	 	Payment on Notes	  	 	25	 
	 Section 3.02.
	 	Exchange Act Reports	  	 	26	 
	 Section 3.03.
	 	Rule 144A Information	  	 	26	 
	 Section 3.04.
	 	Additional Interest	  	 	26	 
	 Section 3.05.
	 	Compliance and Default Certificates	  	 	27	 
	 Section 3.06.
	 	Stay, Extension and Usury Laws	  	 	28	 
	 Section 3.07.
	 	Corporate Existence	  	 	28	 
	 Section 3.08.
	 	Restriction on Acquisition of Notes by the Company and its Affiliates	  	 	28	 
	 Section 3.09.
	 	Further Instruments and Acts	  	 	28	 
		
	 Article 4. Repurchase
	  	 	29	 
			
	 Section 4.01.
	 	No Sinking Fund	  	 	29	 
	 Section 4.02.
	 	Right of Holders to Require the Company to Repurchase Notes upon a Fundamental Change	  	 	29	 

  
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	 Section 4.03.
	 	No Right of Redemption by the Company	  	 	33	 
		
	 Article 5. Conversion
	  	 	33	 
			
	 Section 5.01.
	 	Right to Convert	  	 	33	 
	 Section 5.02.
	 	Conversion Procedures	  	 	36	 
	 Section 5.03.
	 	Settlement upon Conversion	  	 	38	 
	 Section 5.04.
	 	Reserve and Status of Common Stock Issued upon Conversion	  	 	41	 
	 Section 5.05.
	 	Adjustments to the Conversion Rate	  	 	41	 
	 Section 5.06.
	 	Voluntary Adjustments	  	 	52	 
	 Section 5.07.
	 	Adjustments to the Conversion Rate in Connection with a Make-Whole Fundamental Change	  	 	52	 
	 Section 5.08.
	 	Effect of Common Stock Change Event	  	 	53	 
		
	 Article 6. Successors
	  	 	55	 
			
	 Section 6.01.
	 	When the Company May Merge, Etc.	  	 	55	 
	 Section 6.02.
	 	Successor Corporation Substituted	  	 	55	 
		
	 Article 7. Defaults and Remedies
	  	 	56	 
			
	 Section 7.01.
	 	Events of Default	  	 	56	 
	 Section 7.02.
	 	Acceleration	  	 	58	 
	 Section 7.03.
	 	Sole Remedy for a Failure to Report	  	 	58	 
	 Section 7.04.
	 	Other Remedies	  	 	59	 
	 Section 7.05.
	 	Waiver of Past Defaults	  	 	59	 
	 Section 7.06.
	 	Control by Majority	  	 	60	 
	 Section 7.07.
	 	Limitation on Suits	  	 	60	 
	 Section 7.08.
	 	Absolute Right of Holders to Institute Suit for the Enforcement of the Right to Receive Payment and Conversion Consideration	  	 	61	 
	 Section 7.09.
	 	Collection Suit by Trustee	  	 	61	 
	 Section 7.10.
	 	Trustee May File Proofs of Claim	  	 	61	 
	 Section 7.11.
	 	Priorities	  	 	62	 
	 Section 7.12.
	 	Undertaking for Costs	  	 	62	 
		
	 Article 8. Amendments, Supplements and Waivers
	  	 	62	 
			
	 Section 8.01.
	 	Without the Consent of Holders	  	 	62	 
	 Section 8.02.
	 	With the Consent of Holders	  	 	63	 
	 Section 8.03.
	 	Notice of Amendments, Supplements and Waivers	  	 	64	 
	 Section 8.04.
	 	Revocation, Effect and Solicitation of Consents; Special Record Dates; Etc.	  	 	64	 
	 Section 8.05.
	 	Notations and Exchanges	  	 	65	 
	 Section 8.06.
	 	Trustee to Execute Supplemental Indentures	  	 	65	 
		
	 Article 9. Satisfaction and Discharge
	  	 	66	 
			
	 Section 9.01.
	 	Termination of Company’s Obligations	  	 	66	 
	 Section 9.02.
	 	Repayment to Company	  	 	66	 
	 Section 9.03.
	 	Reinstatement	  	 	67	 
		
	 Article 10. Trustee
	  	 	67	 

  
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	 Section 10.01.
	 	Duties of the Trustee	  	 	67	 
	 Section 10.02.
	 	Rights of the Trustee	  	 	68	 
	 Section 10.03.
	 	Individual Rights of the Trustee	  	 	68	 
	 Section 10.04.
	 	Trustee’s Disclaimer	  	 	69	 
	 Section 10.05.
	 	Notice of Defaults	  	 	69	 
	 Section 10.06.
	 	Compensation and Indemnity	  	 	69	 
	 Section 10.07.
	 	Replacement of the Trustee	  	 	70	 
	 Section 10.08.
	 	Successor Trustee by Merger, Etc.	  	 	71	 
	 Section 10.09.
	 	Eligibility; Disqualification	  	 	71	 
	 Section 10.10.
	 	Reports by Trustee	  	 	71	 
		
	 Article 11. Miscellaneous
	  	 	71	 
			
	 Section 11.01.
	 	Notices	  	 	71	 
	 Section 11.02.
	 	Delivery of Officer’s Certificate and Opinion of Counsel as to Conditions Precedent	  	 	73	 
	 Section 11.03.
	 	Statements Required in Officer’s Certificate and Opinion of Counsel	  	 	73	 
	 Section 11.04.
	 	Rules by the Trustee, the Registrar and the Paying Agent	  	 	73	 
	 Section 11.05.
	 	No Personal Liability of Directors, Officers, Employees and Stockholders	  	 	73	 
	 Section 11.06.
	 	Governing Law; Waiver of Jury Trial	  	 	74	 
	 Section 11.07.
	 	Submission to Jurisdiction	  	 	74	 
	 Section 11.08.
	 	No Adverse Interpretation of Other Agreements	  	 	74	 
	 Section 11.09.
	 	Successors	  	 	74	 
	 Section 11.10.
	 	Force Majeure	  	 	74	 
	 Section 11.11.
	 	U.S.A. Patriot Act	  	 	75	 
	 Section 11.12.
	 	Calculations	  	 	75	 
	 Section 11.13.
	 	Severability	  	 	75	 
	 Section 11.14.
	 	Counterparts	  	 	75	 
	 Section 11.15.
	 	Table of Contents, Headings, Etc.	  	 	75	 
	 Section 11.16.
	 	Withholding Taxes	  	 	75	 

 Exhibits 
  

					
		
	 Exhibit A: Form of Note
	  	 	A-1	 
		
	 Exhibit B-1: Form of Restricted Note
Legend
	  	 	B1-1	 
		
	 Exhibit B-2: Form of Global Note Legend
	  	 	B2-1	 
		
	 Exhibit B-3: Form of
Non-Affiliate Legend
	  	 	D-1	 

  

  
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 INDENTURE, dated as of September 29, 2017, between Air Transport Services Group,
Inc., a Delaware corporation, as issuer (the “Company”), and U.S. Bank National Association, as trustee (the “Trustee”). 

Each party to this Indenture (as defined below) agrees as follows for the benefit of the other party and for the equal and ratable benefit of
the Holders (as defined below) of the Company’s 1.125% Convertible Senior Notes due 2024 (the “Notes”). 
 Article
1. DEFINITIONS; RULES OF CONSTRUCTION 
 Section 1.01. DEFINITIONS. 

“Additional Interest” means any interest that accrues on any Note pursuant to Section 3.04. 

“Affiliate” has the meaning set forth in Rule 144 as in effect on the Issue Date. 

“Authorized Denomination” means, with respect to a Note, a principal amount thereof equal to $1,000 or any integral multiple
of $1,000 in excess thereof. 
 “Bankruptcy Law” means Title 11, United States Code, or any similar U.S. federal or state
or non-U.S. law for the relief of debtors. 
 “Bid Solicitation Agent” means the
Person who is required to obtain bids for the Trading Price in accordance with Section 5.01(C)(i)(2) and the definition of “Trading Price.” The initial Bid Solicitation Agent on the Issue Date will be the Company;
provided, however, that the Company may appoint any other Person (including itself or any of its Subsidiaries) to be the Bid Solicitation Agent at any time after the Issue Date without prior notice. 

“Board of Directors” means the board of directors of the Company or a committee of such board duly authorized to act on
behalf of such board. 
 “Business Day” means any day other than a Saturday, a Sunday or any day on which the Federal
Reserve Bank of New York is authorized or required by law or executive order to close or be closed. 
 “Capital Stock” of
any Person means any and all shares of, interests in, rights to purchase, warrants or options for, participations in, or other equivalents of, in each case however designated, the equity of such Person, but excluding any debt securities convertible
into such equity. 
 “Close of Business” means 5:00 p.m., New York City time. 

“Common Stock” means the common stock, $0.01 par value per share, of the Company, subject to
Section 5.08. 
 “Company” means the Person named as such in the first paragraph of this
Indenture and, 

  
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subject to Article 6, its successors and assigns. 
 “Company
Order” means a written request or order signed on behalf of the Company by one (1) of its Officers and delivered to the Trustee. 

“Conversion Date” means, with respect to a Note, the first Business Day on which the requirements set forth in
Section 5.02(A) to convert such Note are satisfied. 
 “Conversion Price” means, as of any time,
an amount equal to (A) one thousand dollars ($1,000) divided by (B) the Conversion Rate in effect at such time. 

“Conversion Rate” initially means 31.3475 shares of Common Stock per $1,000 principal amount of Notes; provided,
however, that the Conversion Rate is subject to adjustment pursuant to Article 5; provided, further, that whenever this Indenture refers to the Conversion Rate as of a particular date without setting forth a particular
time on such date, such reference will be deemed to be to the Conversion Rate as of the Close of Business on such date. 

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

“Daily Cash Amount” means, with respect to any VWAP Trading Day, the lesser of (A) the applicable Daily Maximum Cash
Amount; and (B) the Daily Conversion Value for such VWAP Trading Day. 
 “Daily Conversion Value” means, with respect
to any VWAP Trading Day, one-fiftieth (1/50th) of the product of (A) the Conversion Rate on such VWAP Trading Day; and (B) the Daily VWAP per share of Common Stock on such VWAP Trading Day. 

“Daily Maximum Cash Amount” means, with respect to the conversion of any Note, the quotient obtained by dividing (A) the
Specified Dollar Amount applicable to such conversion by (B) fifty (50). 
 “Daily Share Amount” means, with respect
to any VWAP Trading Day relating to the conversion of any Note, the quotient obtained by dividing (A) the excess, if any, of the Daily Conversion Value for such VWAP Trading Day over the applicable Daily Maximum Cash Amount by (B) the
Daily VWAP for such VWAP Trading Day. For the avoidance of doubt, the Daily Share Amount will be zero for such VWAP Trading Day if such Daily Conversion Value does not exceed such Daily Maximum Cash Amount. 

“Daily VWAP” means, for any VWAP Trading Day, the per share volume-weighted average price of the Common Stock as displayed
under the heading “Bloomberg VWAP” on Bloomberg page “ATSG <EQUITY> AQR” (or, if such page is not available, its equivalent successor page) in respect of the period from the scheduled open of trading until the scheduled
close of trading of the primary trading session on such VWAP Trading Day (or, if such volume-weighted average price is unavailable, the market value of one share of Common Stock on such VWAP Trading Day, determined, using a volume-weighted average
price method, by a 

  
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nationally recognized independent investment banking firm selected by the Company, which may include any of the Initial Purchasers). The Daily VWAP will be determined without regard to
after-hours trading or any other trading outside of the regular trading session. 
 “Default” means any event that is (or,
after notice, passage of time or both, would be) an Event of Default. 
 “Default Settlement Method” means, with respect to
any conversion, (i) if the Conversion Date for such conversion is before the Authorized Share Effective Date, Cash Settlement; and (ii) in all other cases, Combination Settlement with a Specified Dollar Amount of $1,000 per $1,000
principal amount of Notes; provided, however, that the Company may, from time to time, change the Default Settlement Method, to any Settlement Method the Company is then permitted to elect, by sending notice of the new Default
Settlement Method to the Holders, the Trustee and the Conversion Agent. 
 “Depositary” means The Depository Trust Company
or its successor. 
 “Depositary Participant” means any member of, or participant in, the Depositary. 

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

“Ex-Dividend Date” means, with respect to an issuance, dividend or distribution on
the Common Stock, the first date on which shares of Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive such issuance, dividend or distribution (including pursuant to due bills or
similar arrangements required by the relevant stock exchange). For the avoidance of doubt, any alternative trading convention on the applicable exchange or market in respect of the Common Stock under a separate ticker symbol or CUSIP number will not
be considered “regular way” for this purpose. 
 “Exchange Act” means the U.S. Securities Exchange Act of 1934,
as amended. 
 “Free Trade Date” means, with respect to any Note, the date that is one (1) year after the Last
Original Issue Date of such Note. 
 “Freely Tradable” means, with respect to any Note, that such Note (A) would be
eligible to be offered, sold or otherwise transferred pursuant to Rule 144 or otherwise if held by a Person that is not an Affiliate of the Company, and that has not been an Affiliate of the Company during the immediately preceding three
(3) months, without any requirements as to volume, manner of sale, availability of current public information or notice under the Securities Act (except that, during the six (6) month period beginning on, and including, the date that is
six (6) months after the Last Original Issue Date of such Note, any such requirement as to the availability of current public information will be disregarded if the same is satisfied at that time); (B) is not identified by a
“restricted” CUSIP or ISIN number at any time after the Free Trade Date of such Note; and (C) is not represented by any certificate that bears the Restricted Note Legend at any time after

  
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the Free Trade Date of such Note. For the avoidance of doubt, whether a Note is deemed to be identified by a “restricted” CUSIP or ISIN number or to bear the Restricted Note Legend is
subject to Section 2.12. 
 “Fundamental Change” means any of the following events: 

(A) a “person” or “group” (within the meaning of Section 13(d)(3) of the Exchange Act), other than the Company or its
wholly owned Subsidiaries, files a Schedule TO or any other schedule, form or report with the SEC disclosing that such person or group has become the direct or indirect “beneficial owner” (as defined below) of shares of the Company’s
common equity representing more than fifty percent (50%) of the voting power of all of the Company’s then-outstanding common equity; 

(B) the consummation of (i) any sale, lease or other transfer, in one transaction or a series of transactions, of all or substantially all
of the assets of the Company and its Subsidiaries, taken as a whole, to any Person; or (ii) any transaction or series of related transactions in connection with which (whether by means of merger, consolidation, share exchange, combination,
reclassification, recapitalization, acquisition, liquidation or otherwise) all of the Common Stock is exchanged for, converted into, acquired for, or constitutes solely the right to receive, other securities, cash or other property; provided,
however, that any merger, consolidation, share exchange or combination of the Company pursuant to which the Persons that directly or indirectly “beneficially owned” (as defined below) all classes of the Company’s common equity
immediately before such transaction directly or indirectly “beneficially own,” immediately after such transaction, more than fifty percent (50%) of all classes of common equity of the surviving, continuing or acquiring company or other
transferee, as applicable, or the parent thereof, in substantially the same proportions vis-à-vis each other as immediately before such transaction will be deemed
not to be a Fundamental Change pursuant to this clause (B); 
 (C) the Company’s stockholders approve any plan or proposal for
the liquidation or dissolution of the Company; or 
 (D) the Common Stock ceases to be listed on any of The New York Stock Exchange, The
NASDAQ Global Market or The NASDAQ Global Select Market (or any of their respective successors); 
 provided, however, that a
transaction or event described in clause (A) or (B) above will not constitute a Fundamental Change if at least ninety percent (90%) of the consideration received or to be received by the holders of Common Stock (excluding cash
payments for fractional shares or pursuant to dissenters rights), in connection with such transaction or event, consists of shares of common stock listed on any of The New York Stock Exchange, The NASDAQ Global Market or The NASDAQ Global Select
Market (or any of their respective successors), or that will be so listed when issued or exchanged in connection with such transaction or event, and such transaction or event constitutes a Common Stock Change Event whose Reference Property consists
of such consideration. 
 For the purposes of this definition, whether a Person is a “beneficial owner” and whether shares
are “beneficially owned” will be determined in accordance with Rule 13d-3 under the 

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

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

“Global Note Legend” means a legend substantially in the form set forth in Exhibit
B-2. 
 “Holder” means a person in whose name a Note is registered on the
Registrar’s books. 
 “Indenture” means this Indenture, as amended or supplemented from time to time. 

“Initial Purchasers” means Goldman Sachs & Co. LLC, SunTrust Robinson Humphrey, Inc., J.P. Morgan Securities LLC and
Merrill Lynch, Pierce, Fenner & Smith Incorporated. 
 “Interest Payment Date” means, with respect to a Note, each
April 15 and October 15 of each year, commencing on April 15, 2018 (or such other date specified in the certificate representing such Note). For the avoidance of doubt the Maturity Date is an Interest Payment Date. 

“Issue Date” means September 29, 2017. 

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

“Last Reported Sale Price” of the Common Stock for any Trading Day means the closing sale price per share (or, if no closing
sale price is reported, the average of the last bid 

  
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price and the last ask price per share or, if more than one in either case, the average of the average last bid prices and the average last ask prices per share) of Common Stock on such Trading
Day as reported in composite transactions for the principal U.S. national or regional securities exchange on which the Common Stock is then listed. If the Common Stock is not listed on a U.S. national or regional securities exchange on such Trading
Day, then the Last Reported Sale Price will be the last quoted bid price per share of Common Stock on such Trading Day in the over-the-counter market as reported by OTC
Markets Group Inc. or a similar organization. If the Common Stock is not so quoted on such Trading Day, then the Last Reported Sale Price will be the average of the mid-point of the last bid price and the last
ask price per share of Common Stock on such Trading Day from each of at least three (3) nationally recognized independent investment banking firms selected by the Company, which may include any of the Initial Purchasers. Neither the Trustee nor
the Conversion Agent will have any duty to determine the Last Reported Sale Price. 
 “Make-Whole Fundamental Change” means
a Fundamental Change (determined after giving effect to the proviso immediately after clause (D) of the definition thereof, but without regard to the proviso to clause (B)(ii) of the definition thereof). 

“Make-Whole Fundamental Change Conversion Period” means, with respect to a Make-Whole Fundamental Change, the period from,
and including, the effective date of such Make-Whole Fundamental Change to, and including, the thirty fifth (35th) Trading Day after such effective date (or, if such Make-Whole Fundamental Change also constitutes a Fundamental Change, to, but
excluding, the related Fundamental Change Repurchase Date). 
 “Market Disruption Event” means, with respect to any date,
the occurrence or existence, during the one-half hour period ending at the scheduled close of trading on such date on the principal U.S. national or regional securities exchange or other market on which the
Common Stock is listed for trading or trades, of any material suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant exchange or otherwise) in the Common Stock or in any options,
contracts or futures contracts relating to the Common Stock. 
 “Maturity Date” means October 15, 2024. 

“Non-Affiliate Legend” means a legend substantially in the form set forth in
Exhibit B-3. 
 “Note Agent” means any Registrar, Paying Agent or Conversion
Agent. 
 “Notes” means the 1.125% Convertible Senior Notes due 2024 issued by the Company pursuant to this Indenture. 

“Observation Period” means, with respect to any Note to be converted, (A) if the Conversion Date for such Note occurs on
or before the fifty-fifth (55th) Scheduled Trading Day immediately before the Maturity Date, the fifty (50) consecutive VWAP Trading Days beginning on, and including, the third (3rd) VWAP
Trading Day immediately after such Conversion Date; and (B) if such Conversion Date occurs after the fifty-fifth (55th) Scheduled Trading Day

  
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immediately before the Maturity Date, the fifty (50) consecutive VWAP Trading Days beginning on, and including, the fifty-first (51st) Scheduled Trading Day immediately before the Maturity
Date. 
 “Officer” means the Chairman of the Board of Directors, the Chief Executive Officer, the President, the Chief
Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Vice-President of the Company. 

“Officer’s Certificate” means a certificate that is signed on behalf of the Company by one (1) of its Officers and
that meets the requirements of Section 11.03. 
 “Open of Business” means 9:00 a.m., New York
City time. 
 “Opinion of Counsel” means an opinion, from legal counsel (including an employee of, or counsel to, the
Company or any of its Subsidiaries) reasonably acceptable to the Trustee, that meets the requirements of Section 11.03, subject to customary qualifications and exclusions. 

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

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

“Purchase Agreement” means that certain Purchase Agreement, dated September 25, 2017, between the Company and Goldman
Sachs & Co. LLC and SunTrust Robinson Humphrey, Inc., as representatives of the Initial Purchasers. 
 “Regular Record
Date” has the following meaning with respect to an Interest Payment Date: (A) if such Interest Payment Date occurs on April 15, the immediately preceding April 1; and (B) if such Interest Payment Date occurs on
October 15, the immediately preceding October 1. 
 “Repurchase Upon Fundamental Change” means the repurchase of any
Note by the Company pursuant to Section 4.02. 
 “Responsible Officer” means (A) any officer
within the Corporate Trust Administration of the Trustee (or any successor group of the Trustee) or any other officer of the Trustee customarily performing functions similar to those performed by any of such officers; and (B) with respect to a
particular corporate trust matter, any other officer to whom such matter is referred because of his or her knowledge of, and familiarity with, the particular subject. 

“Restricted Note Legend” means a legend substantially in the form set forth in Exhibit
B-1. 

  
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 “Restricted Stock Legend” means, with respect to any Conversion Share, a legend
substantially to the effect that the offer and sale of such Conversion Share have not been registered under the Securities Act and that such Conversion Share cannot be sold or otherwise transferred except pursuant to a transaction that is registered
under the Securities Act or that is exempt from, or not subject to, the registration requirements of the Securities Act. 
 “Rule
144” means Rule 144 under the Securities Act (or any successor rule thereto), as the same may be amended from time to time. 

“Rule 144A” means Rule 144A under the Securities Act (or any successor rule thereto), as the same may be amended from time to
time. 
 “Scheduled Trading Day” means any day that is scheduled to be a Trading Day on the principal U.S. national or
regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then traded. If the
Common Stock is not so listed or traded, then “Scheduled Trading day” means a Business Day. 
 “SEC” means the
U.S. Securities and Exchange Commission. 
 “Securities Act” means the U.S. Securities Act of 1933, as amended. 

“Security” means any Note or Conversion Share. 

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

“Significant Subsidiary” means, with respect to any Person, any Subsidiary of such Person that constitutes a
“significant subsidiary” (as defined in Rule 1-02(w) of Regulation S-X under the Exchange Act) of such Person; provided, however, that, in the
case of a Subsidiary of the Company that meets the criteria of clause (3), but not clause (1) or (2), of the definition of “significant subsidiary” in Rule 1-02(w), such Subsidiary will be
deemed not to be a Significant Subsidiary of the Company unless such Subsidiary’s income from continuing operations before income taxes, extraordinary items and cumulative effect of a change in accounting principle, exclusive of amounts
attributable to any non-controlling interests, for the last completed fiscal year prior to the date of determination exceeds five million dollars ($5,000,000). 

“Special Interest” means any interest that accrues on any Note pursuant to Section 7.03. 

“Specified Dollar Amount” means, with respect to the conversion of a Note to which Combination Settlement applies, the
maximum cash amount per $1,000 principal amount of such Note deliverable upon such conversion (excluding cash in lieu of any fractional share of Common Stock). 

“Stock Price” has the following meaning for any Make-Whole Fundamental Change: (A) if the holders of Common Stock
receive only cash in consideration for their shares of Common 

  
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Stock in such Make-Whole Fundamental Change and such Make-Whole Fundamental Change is pursuant to clause (B) of the definition of “Fundamental Change,” then the Stock Price
is the amount of cash paid per share of Common Stock in such Make-Whole Fundamental Change; and (B) in all other cases, the Stock Price is the average of the Last Reported Sale Prices per share of Common Stock for the five (5) consecutive
Trading Days ending on, and including, the Trading Day immediately before the effective date of such Make-Whole Fundamental Change. 

“Subsidiary” means, with respect to any Person, (A) any corporation, association or other business entity (other than a
partnership or limited liability company) of which more than fifty percent (50%) of the total voting power of the Capital Stock entitled (without regard to the occurrence of any contingency, but after giving effect to any voting agreement or
stockholders’ agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees, as applicable, of such corporation, association or other business entity is owned or controlled, directly or
indirectly, by such Person or one or more of the other Subsidiaries of such Person; and (B) any partnership or limited liability company where (i) more than fifty percent (50%) of the capital accounts, distribution rights, equity and
voting interests, or of the general and limited partnership interests, as applicable, of such partnership or limited liability company are owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of such
Person, whether in the form of membership, general, special or limited partnership or limited liability company interests or otherwise; and (ii) such Person or any one or more of the other Subsidiaries of such Person is a controlling general
partner of, or otherwise controls, such partnership or limited liability company. 
 “Trading Day” means any day on which
(A) trading in the Common Stock generally occurs on the principal U.S. national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities
exchange, on the principal other market on which the Common Stock is then traded; and (B) there is no Market Disruption Event. If the Common Stock is not so listed or traded, then “Trading Day” means a Business Day. 

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

  
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eight percent (98%) of the product of the Last Reported Sale Price per share of Common Stock on such Trading Day and the Conversion Rate on such Trading Day. 

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

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

(C) such Security is eligible for resale, by a Person that is not an Affiliate of the Company and that has not been an Affiliate of the Company
during the immediately preceding three (3) months, pursuant to Rule 144 without any limitations thereunder as to volume, manner of sale, availability of current public information or notice. 

The Trustee is under no obligation to determine whether any Security is a Transfer-Restricted Security and may conclusively rely on an
Officer’s Certificate with respect thereto. 
 “Trust Indenture Act” means the U.S. Trust Indenture Act of 1939, as
amended. 
 “Trustee” means the Person named as such in the first paragraph of this Indenture until a successor replaces it
in accordance with the provisions of this Indenture and, thereafter, means such successor. 
 “VWAP Market Disruption
Event” means, with respect to any date, (A) the failure by the principal U.S. national or regional securities exchange on which the Common Stock is then listed, or, if the Common Stock is not then listed on a U.S. national or regional
securities exchange, the principal other market on which the Common Stock is then traded, to open for trading during its regular trading session on such date; or (B) the occurrence or existence, for more than one half hour period in the
aggregate, of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant exchange or otherwise) in the Common Stock or in any options, contracts or futures contracts relating to the
Common Stock, and such suspension or limitation occurs or exists at any time before 1:00 p.m., New York City time, on such date. 

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

  
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“VWAP Trading Day” means a Business Day. 
 Section 1.02. OTHER
DEFINITIONS. 
  

			
	 Term
	  	 Defined in

Section

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

 Section 1.03. RULES OF CONSTRUCTION. 

For purposes of this Indenture: 

(A) “or” is not exclusive; 

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

  
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 (C) “will” expresses a command; 

(D) words in the singular include the plural and in the plural include the singular, unless the context requires otherwise; 

(E) “herein,” “hereof” and other words of similar import refer to this Indenture as a whole and not to any particular
Article, Section or other subdivision of this Indenture, unless the context requires otherwise; 
 (F) references to currency mean the lawful
currency of the United States of America, unless the context requires otherwise; 
 (G) the exhibits, schedules and other attachments to this
Indenture are deemed to form part of this Indenture; and 
 (H) the term “interest,” when used with respect to a Note,
includes any Additional Interest and Special Interest, unless the context requires otherwise. 
 Article 2. THE NOTES 

Section 2.01. FORM, DATING AND DENOMINATIONS. 

The Notes and the Trustee’s certificate of authentication will be substantially in the form set forth in Exhibit A. The Notes will
bear the legends required by Section 2.09 and may bear notations, legends or endorsements required by law, stock exchange rule or usage or the Depositary. Each Note will be dated as of the date of its authentication. 

Except to the extent otherwise provided in a Company Order delivered to the Trustee in connection with the issuance and authentication
thereof, the Notes will be issued initially in the form of one or more Global Notes. Global Notes may be exchanged for Physical Notes, and Physical Notes may be exchanged for Global Notes, only as provided in Section 2.10.

 The Notes will be issuable only in registered form without interest coupons and only in Authorized Denominations. 

Each certificate representing a Note will bear a unique registration number that is not affixed to any other certificate representing another
outstanding Note. 
 The terms contained in the Notes constitute part of this Indenture, and, to the extent applicable, the Company and the
Trustee, by their execution and delivery of this Indenture, agree to such terms and to be bound thereby; provided, however, that, to the extent that any provision of any Note conflicts with the provisions of this Indenture, the
provisions of this Indenture will control for purposes of this Indenture and such Note. 
 Section 2.02. EXECUTION,
AUTHENTICATION AND DELIVERY. 
 (A) Due Execution by the Company. At least one
(1) duly authorized Officer will sign the Notes on behalf of the Company by manual or facsimile signature. A Note’s validity will not 

  
 - 12 - 

 
be affected by the failure of any Officer whose signature is on any Note to hold, at the time such Note is authenticated, the same or any other office at the Company. 

(B) Authentication by the Trustee and Delivery. 

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

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

(iii) The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes. A duly appointed
authenticating agent may authenticate Notes whenever the Trustee may do so under this Indenture, and a Note authenticated as provided in this Indenture by such an agent will be deemed, for purposes of this Indenture, to be authenticated by the
Trustee. Each duly appointed authenticating agent will have the same rights to deal with the Company as the Trustee would have if it were performing the duties that the authentication agent was validly appointed to undertake. 

Section 2.03. INITIAL NOTES AND ADDITIONAL NOTES. 

(A) Initial Notes. On the Issue Date, there will be originally issued two hundred fifty-eight million seven hundred fifty thousand
dollars ($258,750,000) aggregate principal amount of Notes, subject to the provisions of this Indenture (including Section 2.02). Notes issued pursuant to this Section 2.03(A), and any Notes issued
in exchange therefor or in substitution thereof, are referred to in this Indenture as the “Initial Notes.” 
 (B)
Additional Notes. The Company may, subject to the provisions of this Indenture (including Section 2.02), originally issue additional Notes with the same terms as the initial Notes (except, to the extent applicable,
with respect to the date as of which interest begins to accrue on such additional Notes and the first Interest Payment Date and the Last Original Issue Date of such additional Notes), which additional Notes will, subject to the foregoing, be
considered to be part of the same series of, and rank equally and ratably with all other, Notes issued under this Indenture; provided, however, that if any such additional Notes are not fungible with other Notes issued under this
Indenture for federal income tax or federal securities laws purposes, then such additional Notes will be identified by a separate CUSIP number or by no CUSIP number. 

  
 - 13 - 

 Section 2.04. METHOD OF PAYMENT. 

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

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

(A) Accrual of Interest. Each Note will accrue interest at a rate per annum equal to 1.125% (the “Stated Interest”),
plus any Additional Interest and Special Interest that may accrue pursuant to Sections 3.04 and 7.03, respectively. Stated Interest on each Note will (i) accrue from, and including, the most recent date as of which Stated
Interest has been paid or duly provided for (or, if no Stated Interest has theretofore been paid or duly provided for, the date set forth in the certificate representing such Note as the date from, and including, which Stated Interest will begin to
accrue in such circumstance) to, but excluding, the date of payment of such Stated Interest; and (ii) be, subject to Sections 4.02(D) and 5.02(D) (but without duplication of any payment of interest), payable semi-annually
in arrears on each Interest Payment Date, beginning on the first Interest Payment Date set forth in the certificate representing such Note, to the Holder of such Note as of the Close of Business on the immediately preceding Regular Record Date.
Stated Interest, and, if applicable, Additional Interest and Special Interest, on the Notes will be computed on the basis of a 360-day year comprised of twelve 30-day
months. 
 (B) Defaulted Amounts. If the Company fails to pay any amount (a “Defaulted Amount”) payable on a Note on
or before the due date therefor as provided in this Indenture, then, regardless of whether such failure constitutes an Event of Default, (i) such Defaulted Amount will forthwith cease to be payable to the Holder of such Note otherwise entitled
to such 

  
 - 14 - 

 
payment; (ii) to the extent lawful, interest (“Default Interest”) will accrue on such Defaulted Amount at a rate per annum equal to the rate per annum at which Stated
Interest accrues, from, and including, such due date to, but excluding, the date of payment of such Defaulted Amount and Default Interest; (iii) such Defaulted Amount and Default Interest will be paid on a payment date selected by the Company
to the Holder of such Note as of the Close of Business on a special record date selected by the Company, provided that such special record date must be no more than fifteen (15), nor less than ten (10), calendar days before such payment date;
and (iv) at least fifteen (15) calendar days before such special record date, the Company will send notice to the Trustee and the Holders that states such special record date, such payment date and the amount of such Defaulted Amount and
Default Interest to be paid on such payment date. 
 (C) Delay of Payment when Payment Date is Not a Business Day. If the due date for
a payment on a Note as provided in this Indenture is not a Business Day, then, notwithstanding anything to the contrary in this Indenture or the Notes, such payment may be made on the immediately following Business Day and no interest will accrue on
such payment as a result of the related delay. Solely for purposes of the immediately preceding sentence, a day on which the applicable place of payment is authorized or required by law or executive order to close or be closed will be deemed not to
be a “Business Day.” 
 Section 2.06. REGISTRAR, PAYING AGENT AND
CONVERSION AGENT. 
 (A) Generally. The Company will maintain (i) an office or agency in the
continental United States where Notes may be presented for registration of transfer or for exchange (the “Registrar”); (ii) an office or agency in the continental United States where Notes may be presented for payment (the
“Paying Agent”); and (iii) an office or agency in the continental United States where Notes may be presented for conversion (the “Conversion Agent”). If the Company fails to maintain a Registrar, Paying Agent
or Conversion Agent, then the Trustee will act as such. For the avoidance of doubt, the Company or any of its Subsidiaries may act as Registrar, Paying Agent or Conversion Agent. 

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

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

  
 - 15 - 

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

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

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

Section 2.09. LEGENDS. 

(A) Global Note Legend. Each Global Note will bear the Global Note Legend (or any similar legend, not inconsistent with this Indenture,
required by the Depositary for such Global Note). 
 (B) Non-Affiliate Legend. Each Note will
bear the Non-Affiliate Legend. 
 (C) Restricted Note Legend. Subject to
Section 2.12, 
 (i) each Note that is a Transfer-Restricted Security will bear the Restricted Note
Legend; and 
 (ii) if a Note is issued in exchange for, in substitution of, or to effect a partial conversion of, another
Note (such other Note being referred to as the “old Note” for 

  
 - 16 - 

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

(D) Other Legends. A Note may bear any other legend or text, not inconsistent with this Indenture, as may be required by applicable law
or by any securities exchange or automated quotation system on which such Note is traded or quoted. 
 (E) Acknowledgement and Agreement
by the Holders. A Holder’s acceptance of any Note bearing any legend required by this Section 2.09 will constitute such Holder’s acknowledgement of, and agreement to comply with, the restrictions set forth in
such legend. 
 (F) Restricted Stock Legend. 

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

(ii) Notwithstanding anything to the contrary in this Section 2.09(F), a Conversion Share need not
bear a Restricted Stock Legend if such Conversion Share is issued in an uncertificated form that does not permit affixing legends thereto, provided the Company takes measures (including the assignment thereto of a “restricted” CUSIP
number) that it reasonably deems appropriate to enforce the transfer restrictions referred to in the Restricted Stock Legend. 
 Section 2.10.
TRANSFERS AND EXCHANGES; CERTAIN TRANSFER RESTRICTIONS. 

(A) Provisions Applicable to All Transfers and Exchanges. 

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

(ii) Each Note issued upon transfer or exchange of any other Note (such other Note being referred to as the “old
Note” for purposes of this Section 2.10(A)(ii)) or portion thereof in accordance with this Indenture will be the valid obligation of the Company, evidencing the same indebtedness, and entitled to the same benefits
under this Indenture, as such old Note or portion thereof, as applicable. 
 (iii) The Company, the Trustee and the Note
Agents will not impose any service charge on any Holder for any transfer, exchange or conversion of Notes, but the 

  
 - 17 - 

 
Company, the Trustee, the Registrar and the Conversion Agent may require payment of a sum sufficient to cover any transfer tax or similar governmental charge that may be imposed in connection
with any transfer, exchange or conversion of Notes, other than exchanges pursuant to Sections 2.11, 2.17 or 8.05 not involving any transfer. 

(iv) Notwithstanding anything to the contrary in this Indenture or the Notes, a Note may not be transferred or exchanged in
part unless the portion to be so transferred or exchanged is in an Authorized Denomination. 
 (v) The Trustee will have no
obligation or duty to monitor, determine or inquire as to compliance with any transfer restrictions imposed under this Indenture or applicable law with respect to any Security, other than to require the delivery of such certificates or other
documentation or evidence as expressly required by this Indenture and to examine the same to determine substantial compliance as to form with the requirements of this Indenture. 

(vi) Each Note issued upon transfer of, or in exchange for, another Note will bear each legend, if any, required by
Section 2.09. 
 (vii) Upon satisfaction of the requirements of this Indenture to effect a transfer
or exchange of any Note, the Company will cause such transfer or exchange to be effected as soon as reasonably practicable but in no event later than the second (2nd) Business Day after the date of such satisfaction. 

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

(i) Subject to the immediately following sentence, no Global Note may be transferred or exchanged in whole except (1) by
the Depositary to a nominee of the Depositary; (2) by a nominee of the Depositary to the Depositary or to another nominee of the Depositary; or (3) by the Depositary or any such nominee to a successor Depositary or a nominee of such
successor Depositary. No Global Note (or any portion thereof) may be transferred to, or exchanged for, a Physical Note; provided, however, that a Global Note will be exchanged, pursuant to customary procedures, for one or more Physical
Notes if: 
 (1) (x) the Depositary notifies the Company or the Trustee that the Depositary is unwilling or unable to
continue as depositary for such Global Note or (y) the Depositary ceases to be a “clearing agency” registered under Section 17A of the Exchange Act and, in each case, the Company fails to appoint a successor Depositary within
ninety (90) days of such notice or cessation; 

  
 - 18 - 

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

(3) the Company, in its sole discretion, permits the exchange of any beneficial interest in such Global Note for one or more
Physical Notes at the request of the owner of such beneficial interest. 
 (ii) Upon satisfaction of the requirements of this
Indenture to effect a transfer or exchange of any Global Note (or any portion thereof): 
 (1) the Trustee will reflect any
resulting decrease of the principal amount of such Global Note by notation on the “Schedule of Exchanges of Interests in the Global Note” forming part of such Global Note (and, if such notation results in such Global Note having a
principal amount of zero, the Company may (but is not required to) instruct the Trustee to cancel such Global Note pursuant to Section 2.15); 

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

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

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

(i) Subject to this Section 2.10, a Holder of a Physical Note may (x) transfer such Physical
Note (or any portion thereof in an Authorized Denomination) to one or more other Person(s); (y) exchange such Physical Note (or any portion thereof in an Authorized Denomination) for one or more other Physical Notes in Authorized

  
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Denominations having an aggregate principal amount equal to the aggregate principal amount of the Physical Note (or portion thereof) to be so exchanged; and (z) if then permitted by the
Depositary Procedures, transfer such Physical Note (or any portion thereof in an Authorized Denomination) in exchange for a beneficial interest in one or more Global Notes; provided, however, that, to effect any such transfer or
exchange, such Holder must: 
 (1) surrender such Physical Note to be transferred or exchanged to the office of the
Registrar, together with any endorsements or transfer instruments reasonably required by the Company, the Trustee or the Registrar; and 

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

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

  
 - 20 - 

 
authenticate, in each case in accordance with Section 2.02, one or more Global Notes that (x) are in Authorized Denominations and have an aggregate principal amount
equal to the principal amount to be so transferred; and (y) bear each legend, if any, required by Section 2.09; and 

(b) to a transferee that will hold its interest in such old Physical Note (or such portion thereof) to be so transferred in
the form of one or more Physical Notes, the Company will issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, one or more Physical Notes that (x) are in
Authorized Denominations and have an aggregate principal amount equal to the principal amount to be so transferred; (y) are registered in the name of such transferee; and (z) bear each legend, if any, required by
Section 2.09; and 
 (4) in the case of an exchange, the Company will issue, execute and deliver,
and the Trustee will authenticate, in each case in accordance with Section 2.02, one or more Physical Notes that (x) are in Authorized Denominations and have an aggregate principal amount equal to the principal amount
to be so exchanged; (y) are registered in the name of the Person to whom such old Physical Note was registered; and (z) bear each legend, if any, required by Section 2.09. 

(D) Requirement to Deliver Documentation and Other Evidence. If a Holder of any Note that is identified by a “restricted”
CUSIP number or that bears a Restricted Note Legend or is a Transfer-Restricted Security requests to: 
 (i) cause such Note
to be identified by an “unrestricted” CUSIP number; 
 (ii) remove such Restricted Note Legend; or 

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

then the Company, the Trustee and the Registrar may refuse to effect such identification, removal or transfer, as applicable, unless there is
delivered to the Company, the Trustee and the Registrar such certificates or other documentation or evidence as the Company, the Trustee and the Registrar may reasonably require to determine that such identification, removal or transfer, as
applicable, complies with the Securities Act and other applicable securities laws; provided, however, that no such certificates, documentation or evidence need be so delivered on and after the Free Trade Date with respect to such Note
unless the Company determines, in its reasonable discretion, that such Note is not eligible to be offered, sold or otherwise transferred pursuant to Rule 144 or otherwise without any requirements as to volume, manner of sale, availability of current
public information or notice under the Securities Act. 
 (E) Transfers of Notes Subject to Repurchase or Conversion. Notwithstanding
anything to the contrary in this Indenture or the Notes, the Company, the Trustee and the Registrar will not be required to register the transfer of or exchange any Note that (i) has been surrendered for conversion, except to the extent that
any portion of such Note is not subject to 

  
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conversion; or (ii) is subject to a Fundamental Change Repurchase Notice validly delivered, and not withdrawn, pursuant to Section 4.02(F), except to the extent
that any portion of such Note is not subject to such notice or the Company fails to pay the applicable Fundamental Change Repurchase Price when due. 

Section 2.11. EXCHANGE AND CANCELLATION OF NOTES TO
BE CONVERTED OR REPURCHASED. 
 (A) Partial Conversions and
Repurchases of Physical Notes. If only a portion of a Physical Note of a Holder is to be converted pursuant to Article 5 or repurchased pursuant to a Repurchase Upon Fundamental Change, then, as soon as reasonably practicable after
such Physical Note is surrendered for such conversion or repurchase, the Company will cause such Physical Note to be exchanged, pursuant and subject to Section 2.10(C), for (i) one or more Physical Notes that are in
Authorized Denominations and have an aggregate principal amount equal to the principal amount of such Physical Note that is not to be so converted or repurchased, and deliver such Physical Note(s) to such Holder; and (ii) a Physical Note having
a principal amount equal to the principal amount to be so converted or repurchased, which Physical Note will be converted or repurchased, as applicable, pursuant to the terms of this Indenture; provided, however, that the Physical Note
referred to in this clause (ii) need not be issued at any time after which such principal amount subject to such conversion or repurchase is deemed to cease to be outstanding pursuant to Section 2.18. 

(B) Cancellation of Converted and Repurchased Notes. 

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

(ii) Global Notes. If a Global Note (or any portion thereof) is to be converted pursuant to Article 5 or
repurchased pursuant to a Repurchase Upon Fundamental Change, then, promptly after the time such Note (or such portion) is deemed to cease to be outstanding pursuant to Section 2.18, the Trustee will reflect a decrease of
the principal amount of such Global Note in an amount equal to the principal amount of such Global Note to be so converted or repurchased, as applicable, by notation on the “Schedule of Exchanges of Interests in the Global Note” forming
part of such Global Note (and, if the principal amount of such Global Note is zero following such notation, cancel such Global Note pursuant to Section 2.15). 

  
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 Section 2.12. REMOVAL OF TRANSFER
RESTRICTIONS. 
 Without limiting the generality of any other provision of this Indenture (including
Section 3.04), the Restricted Note Legend affixed to any Note will be deemed, pursuant to this Section 2.12 and the footnote to such Restricted Note Legend, to be removed therefrom upon the
Company’s delivery to the Trustee of notice to such effect. If such Note bears a “restricted” CUSIP or ISIN number at the time of such delivery, then, upon such delivery, such Note will be deemed, pursuant to this
Section 2.12 and the footnotes to the CUSIP and ISIN numbers set forth on the face of the certificate representing such Note, to thereafter bear the “unrestricted” CUSIP and ISIN numbers identified in such
footnotes; provided, however, that if such Note is a Global Note and the Depositary thereof requires a mandatory exchange or other procedure to cause such Global Note to be identified by “unrestricted” CUSIP and ISIN numbers
in the facilities of such Depositary, then (i) the Company will effect such exchange or procedure as soon as reasonably practicable; and (ii) for purposes of Section 3.04 and the definition of Freely Tradable,
such Global Note will not be deemed to be identified by “unrestricted” CUSIP and ISIN numbers until such time as such exchange or procedure is effected. 

Section 2.13. REPLACEMENT NOTES. 

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

Every replacement Note issued pursuant to this Section 2.13 will be an additional obligation of the Company and will
be entitled to all of the benefits of this Indenture equally and ratably with all other Notes issued under this Indenture. 
 Section 2.14.
REGISTERED HOLDERS; CERTAIN RIGHTS WITH RESPECT TO GLOBAL NOTES. 

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

  
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 Section 2.15. CANCELLATION. 

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

Section 2.17. TEMPORARY NOTES. 

Until definitive Notes are ready for delivery, the Company may issue, execute and deliver, and the Trustee will authenticate, in each case in
accordance with Section 2.02, temporary Notes. Temporary Notes will be substantially in the form of definitive Notes but may have variations that the Company considers appropriate for temporary Notes. The Company will
promptly prepare, issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, definitive Notes in exchange for temporary Notes. Until so exchanged, each temporary Note will
in all respects be entitled to the same benefits under this Indenture as definitive Notes. 
 Section 2.18. OUTSTANDING
NOTES. 
 (A) Generally. The Notes that are outstanding at any time will be deemed to be those Notes that, at such
time, have been duly executed and authenticated, excluding those Notes (or portions thereof) that have theretofore been (i) cancelled by the Trustee or delivered to the Trustee for cancellation in accordance with
Section 2.15; (ii) assigned a principal amount of zero by notation on the “Schedule of Exchanges of Interests in the Global Note” forming part of any a Global Note representing such Note; (iii) paid in full
in accordance with this Indenture; or (iv) deemed to cease to be outstanding to the extent provided in, and subject to, clause (B), (C) or (D) of this Section 2.18. 

(B) Replaced Notes. If a Note is replaced pursuant to Section 2.13, then such Note will cease to be
outstanding at the time of its replacement, unless the Trustee and the Company receive proof reasonably satisfactory to them that such Note is held by a “bona fide purchaser” under applicable law. 

(C) Maturing Notes and Notes Subject to Repurchase. If, on a Fundamental Change 

  
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Repurchase Date or the Maturity Date, the Paying Agent holds money sufficient to pay the aggregate Fundamental Change Repurchase Price or principal amount, respectively, together, in each case,
with the aggregate interest, in each case due on such date, then (unless there occurs a Default in the payment of any such amount) (i) the Notes (or portions thereof) to be repurchased, or that mature, on such date will be deemed, as of such
date, to cease to be outstanding, except to the extent provided in Sections 4.02(D) or 5.02(D); and (ii) the rights of the Holders of such Notes (or such portions thereof), as such, will terminate with respect to such Notes (or
such portions thereof), other than the right to receive the Fundamental Change Repurchase Price or principal amount, as applicable, of, and accrued and unpaid interest on, such Notes (or such portions thereof), in each case as provided in this
Indenture. 
 (D) Notes to Be Converted. At the Close of Business on the Conversion Date for any Note (or any portion thereof) to be
converted, such Note (or such portion) will (unless there occurs a Default in the delivery of the Conversion Consideration or interest due, pursuant to Section 5.03(B) or Section 5.02(D), upon such
conversion) be deemed to cease to be outstanding, except to the extent provided in Section 5.02(D). 
 (E)
Cessation of Accrual of Interest. Except as provided in Sections 4.02(D) or 5.02(D), interest will cease to accrue on each Note from, and including, the date that such Note is deemed, pursuant to this
Section 2.18, to cease to be outstanding, unless there occurs a default in the payment or delivery of any cash or other property due on such Note. 

Section 2.19. REPURCHASES BY THE COMPANY. 

Without limiting the generality of Section 2.15, the Company may, from time to time, repurchase Notes in open market purchases or in
negotiated transactions without delivering prior notice to Holders. 
 Section 2.20. CUSIP AND ISIN NUMBERS. 

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

 Article 3. COVENANTS 

Section 3.01. PAYMENT ON NOTES. 

(A) Generally. The Company will pay or cause to be paid all the principal of, the Fundamental Change Repurchase Price for, interest on,
and other amounts due with respect to, the Notes on the dates and in the manner set forth in this Indenture. 
 (B) Deposit of Funds.
Before 10:00 A.M., New York City time, on each Fundamental Change Repurchase Date or Interest Payment Date, and on the Maturity Date or any other date 

  
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on which any cash amount is due on the Notes, the Company will deposit, or will cause there to be deposited, with the Paying Agent cash, in funds immediately available on such date, sufficient to
pay the cash amount due on the applicable Notes on such date. The Paying Agent will return to the Company, as soon as practicable, any money not required for such purpose. 

Section 3.02. EXCHANGE ACT REPORTS. 

(A) Generally. The Company will send to the Trustee copies of all reports that the Company is required to file with or furnish to the
SEC pursuant to Section 13(a) or 15(d) of the Exchange Act within fifteen (15) calendar days after the date that the Company is required to file or furnish the same (after giving effect to all applicable grace periods under the Exchange
Act); provided, however, that the Company need not send to the Trustee any material for which the Company has received, or is seeking in good faith and has not been denied, confidential treatment by the SEC. Any report that the Company
files with or furnishes to the SEC through the EDGAR system (or any successor thereto) will be deemed to be sent to the Trustee at the time such report is so filed or furnished via the EDGAR system (or such successor). Upon the request of any
Holder, the Trustee will provide to such Holder a copy of any report that the Company has sent the Trustee pursuant to this Section 3.02(A), other than a report that is deemed to be sent to the Trustee pursuant to the preceding sentence. 

(B) Trustee’s Disclaimer. The Trustee need not determine whether the Company has filed or furnished any material via the EDGAR
system (or such successor). The sending, filing or furnishing of reports pursuant to this Section 3.02(A) will not be deemed to constitute constructive notice to the Trustee of any information contained, or determinable
from information contained, therein, including the Company’s compliance with any of its covenants under this Indenture. 
 Section 3.03.
RULE 144A INFORMATION. 
 If the Company is not subject to Section 13 or 15(d) of the Exchange Act at
any time when any Notes or shares of Common Stock issuable upon conversion of the Notes are outstanding and constitute “restricted securities” (as defined in Rule 144 under the Securities Act), then the Company (or its successor) will
promptly provide, to the Trustee and, upon written request, to any Holder, beneficial owner or prospective purchaser of such Notes or shares, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act to facilitate
the resale of such Notes or shares pursuant to Rule 144A under the Securities Act. The Company (or its successor) will take such further action as any Holder or beneficial owner of such Notes or shares may reasonably request to enable such Holder or
beneficial owner to sell such Notes or shares pursuant to Rule 144A under the Securities Act. 
 Section 3.04. ADDITIONAL
INTEREST. 
 (A) Accrual of Additional Interest. 

(i) If, at any time during the six (6) month period beginning on, and including, the date that is six (6) months
after the Last Original Issue Date of any Note, 
 (1) the Company fails to timely file any report (other than Form 8-K 

  
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reports) that the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act (after giving effect to all applicable grace periods thereunder); or 

(2) such Note is not otherwise Freely Tradable, 

then Additional Interest will accrue on such Note for each day during such period on which such failure is continuing or such Note is not
Freely Tradable. 
 (ii) In addition, Additional Interest will accrue on a Note on each day on which such Note is not Freely
Tradable on or after the Free Trade Date of such Note. 
 (B) Amount and Payment of Additional Interest. Any Additional Interest that
accrues on a Note pursuant to Section 3.04(A) will be payable on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of
the principal amount thereof for the first ninety (90) days on which Additional Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof. For the avoidance of doubt, any
Additional Interest that accrues on a Note will be in addition to the Stated Interest that accrues on such Note and in addition to any Special Interest that accrues on such Note; provided, however, that in no event will the aggregate
of any Additional Interest that accrues on a Note and any Special Interest that accrues on such Note accrue at a combined rate per annum in excess of 0.50% of the principal amount thereof, regardless of the number of events or circumstances giving
rise to requirements to pay such Additional Interest or Special Interest. 
 (C) Notice of Accrual of Additional Interest; Trustee’s
Disclaimer. The Company will send notice to the Holder of each Note, and to the Trustee, of the commencement and termination of any period in which Additional Interest accrues on such Note. In addition, if Additional Interest accrues on any
Note, then, no later than five (5) Business Days before each date on which such Additional Interest is to be paid, the Company will deliver an Officer’s Certificate to the Trustee and the Paying Agent stating (i) that the Company is
obligated to pay Additional Interest on such Note on such date of payment; and (ii) the amount of such Additional Interest that is payable on such date of payment. The Trustee will have no duty to determine whether any Additional Interest is
payable or the amount thereof. 
 Section 3.05. COMPLIANCE AND DEFAULT CERTIFICATES.

 (A) Annual Compliance Certificate. Within ninety (90) days after December 31, 2017 and each fiscal year of the
Company ending thereafter, the Company will deliver an Officer’s Certificate to the Trustee stating (i) that the signatory thereto has supervised a review of the activities of the Company and its Subsidiaries during such fiscal year with a
view towards determining whether any Default or Event of Default has occurred; and (ii) whether, to such signatory’s knowledge, a Default or Event of Default has occurred or is continuing (and, if so, describing all such Defaults or Events
of Default and what action the Company is taking or proposes to take with respect thereto). 
 (B) Default Certificate. If a Default
or Event of Default occurs, then the Company 

  
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will promptly deliver an Officer’s Certificate to the Trustee describing the same and what action the Company is taking or proposes to take with respect thereto. 

Section 3.06. STAY, EXTENSION AND USURY LAWS. 

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

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

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

Section 3.08. RESTRICTION ON ACQUISITION OF NOTES BY
THE COMPANY AND ITS AFFILIATES. 
 The Company will promptly
deliver to the Trustee for cancellation all Notes that the Company or any of its Subsidiaries have purchased or otherwise acquired. The Company will use commercially reasonable efforts to prevent any of its Affiliates from acquiring any Note (or any
beneficial interest therein). 
 Section 3.09. FURTHER INSTRUMENTS AND ACTS. 

At the Trustee’s request, the Company will execute and deliver such further instruments and do such further acts as may be reasonably
necessary or proper to more effectively carry out the purposes of this Indenture. 

  
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 Article 4. REPURCHASE 

Section 4.01. NO SINKING FUND. 

No sinking fund is required to be provided for the Notes. 

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

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

(B) Repurchase Prohibited in Certain Circumstances. If the principal amount of the Notes has been accelerated and such acceleration has
not been rescinded on or before the Fundamental Change Repurchase Date for a Repurchase Upon Fundamental Change (including as a result of the payment of the related Fundamental Change Repurchase Price, and any related interest pursuant to the
proviso to Section 4.02(D), on such Fundamental Change Repurchase Date), then (i) the Company may not repurchase any Notes pursuant to this Section 4.02; and (ii) the Company will cause
any Notes theretofore surrendered for such Repurchase upon Fundamental Change to be returned to the Holders thereof (or, if applicable with respect to Global Notes, cancel any instructions for book-entry transfer to the Company, the Trustee or the
Paying Agent of the applicable beneficial interest in such Notes in accordance with the Depositary Procedures). 
 (C) Fundamental Change
Repurchase Date. The Fundamental Change Repurchase Date for any Fundamental Change will be a Business Day of the Company’s choosing that is no more than thirty five (35), nor less than twenty (20), Business Days after the date the Company
sends the related Fundamental Change Notice pursuant to Section 4.02(E). 
 (D) Fundamental Change Repurchase
Price. The Fundamental Change Repurchase Price for any Note to be repurchased upon a Repurchase Upon Fundamental Change following a Fundamental Change is an amount in cash equal to the principal amount of such Note plus accrued and unpaid
interest on such Note to, but excluding, the Fundamental Change Repurchase Date for such Fundamental Change; provided, however, that if such Fundamental Change Repurchase Date is after a Regular Record Date and on or before the next
Interest Payment Date, then (i) the Holder of such Note at the Close of Business on such Regular Record Date will be entitled, notwithstanding such Repurchase Upon Fundamental Change, to receive, on or before such Interest Payment Date, the
unpaid interest that would have accrued on such Note to, but excluding, such Interest Payment Date (assuming, solely for these purposes, that such Note remained outstanding through such Interest Payment Date, if such Fundamental Change Repurchase
Date is before such Interest Payment Date); and (ii) the Fundamental Change Repurchase Price will not include accrued and unpaid interest on such Note to, but excluding, such Fundamental Change Repurchase Date. For the avoidance of doubt, if an
Interest Payment 

  
 - 29 - 

 
Date is not a Business Day within the meaning of Section 2.05(C) and such Fundamental Change Repurchase Date occurs on the Business Day immediately after such Interest
Payment Date, then (x) accrued and unpaid interest on Notes to, but excluding, such Interest Payment Date will be paid, in accordance with Section 2.05(C), on the next Business Day to Holders at of the Close of
Business on the immediately preceding Regular Record Date; and (y) the Fundamental Change Repurchase Price will include interest on Notes to be repurchased from, and including, such Interest Payment Date. 

(E) Fundamental Change Notice. On or before the twentieth (20th) calendar day after the occurrence of a Fundamental Change, the Company
will (x) send to each Holder, the Trustee and the Paying Agent a notice of such Fundamental Change (a “Fundamental Change Notice”) and (y) substantially contemporaneously therewith, issue a press release through such
national newswire service as the Company then uses containing the information set forth in the Fundamental Change Notice. 
 Such Fundamental
Change Notice must state: 
 (i) briefly, the events causing such Fundamental Change; 

(ii) the effective date of such Fundamental Change; 

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

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

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

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

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

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

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

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

Neither the failure to deliver a Fundamental Change Notice nor any defect in a Fundamental Change Notice will limit the Fundamental Change
Repurchase Right of any Holder or otherwise affect the validity of any proceedings relating to any Repurchase Upon Fundamental Change. 
 (F)
Procedures to Exercise the Fundamental Change Repurchase Right. 
 (i) Delivery of Fundamental Change Repurchase
Notice and Notes to Be Repurchased. To exercise its Fundamental Change Repurchase Right for a Note following a Fundamental Change, the Holder thereof must deliver to the Paying Agent: 

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

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

(ii) Contents of Fundamental Change Repurchase Notices. Each Fundamental Change Repurchase Notice with respect to a Note
must state: 
 (1) if such Note is a Physical Note, the certificate number of such Note; 

(2) the principal amount of such Note to be repurchased, which must be an Authorized Denomination; and 

(3) that such Holder is exercising its Fundamental Change Repurchase Right with respect to such principal amount of such Note;

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

  
 - 31 - 

 (iii) Withdrawal of Fundamental Change Repurchase Notice. A Holder that
has delivered a Fundamental Change Repurchase Notice with respect to Note may withdraw such Fundamental Change Repurchase Notice by delivering a written notice of withdrawal to the Paying Agent at any time before the Close of Business on the
Business Day immediately before the related Fundamental Change Repurchase Date. Such withdrawal notice must state: 
 (1) if
such Note is a Physical Note, the certificate number of such Note; 
 (2) the principal amount of such Note to be withdrawn,
which must be an Authorized Denomination; and 
 (3) the principal amount of such Note, if any, that remains subject to such
Fundamental Change Repurchase Notice, which must be an Authorized Denomination; 
 provided, however, that if such Note is a
Global Note, then such withdrawal notice must comply with the Depositary Procedures (and any such withdrawal notice delivered in compliance with the Depositary Procedures will be deemed to satisfy the requirements of this
Section 4.02(F)). 
 Upon receipt of any such withdrawal notice with respect to a Note (or any portion thereof),
the Paying Agent will (x) promptly deliver a copy of such withdrawal notice to the Company; and (y) if such Note is surrendered to the Paying Agent, cause such Note (or such portion thereof in accordance with
Section 2.11, treating such Note as having been then surrendered for partial repurchase in the amount set forth in such withdrawal notice as remaining subject to repurchase) to be returned to the Holder thereof (or, if
applicable with respect to any Global Note, cancel any instructions for book-entry transfer to the Company, the Trustee or the Paying Agent of the applicable beneficial interest in such Note in accordance with the Depositary Procedures). 

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

  
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Company will comply with all federal and state securities laws in connection with a Repurchase Upon Fundamental Change (including complying with Rules
13e-4 and 14e-1 under the Exchange Act and filing any required Schedule TO, to the extent applicable) so as to permit effecting such Repurchase Upon Fundamental Change
in the manner set forth in this Indenture; provided, however, that, to the extent that the Company’s obligations pursuant to this Section 4.02 conflict with any law or regulation that is applicable to the
Company and enacted after the Issue Date, the Company’s compliance with such law or regulation will not be considered to be a Default of such obligations. 

(I) Repurchase in Part. Subject to the terms of this Section 4.02, Notes may be repurchased pursuant to a
Repurchase Upon Fundamental Change in part, but only in Authorized Denominations. Provisions of this Section 4.02 applying to the repurchase of a Note in whole will equally apply to the repurchase of a permitted portion of
a Note. 
 Section 4.03. NO RIGHT OF REDEMPTION BY THE
COMPANY. 
 The Company does not have the right to redeem the Notes at its election. 

Article 5. CONVERSION 

Section 5.01. RIGHT TO CONVERT. 

(A) Generally. Subject to the provisions of this Article 5, each Holder may, at its option, convert such Holder’s Notes into
Conversion Consideration. 
 (B) Conversions in Part. Subject to the terms of this Indenture, Notes may be converted in part, but only
in Authorized Denominations. Provisions of this Article 5 applying to the conversion of a Note in whole will equally apply to conversions of a permitted portion of a Note. 

(C) When Notes May Be Converted. 

(i) Generally. Subject to Section 5.01(C)(ii), a Note may be converted only in the following
circumstances: 
 (1) Conversion upon Satisfaction of Common Stock Sale Price Condition. Prior to the Close of
Business on the Business day immediately preceding April 15, 2024, a Holder may convert its Notes during any calendar quarter commencing after the calendar quarter ending on December 31, 2017 (and only during such calendar quarter), if the
Last Reported Sale Price per share of Common Stock exceeds one hundred and thirty percent (130%) of the Conversion Price for each of at least twenty (20) Trading Days (whether or not consecutive) during the thirty (30) consecutive Trading
Days ending on, and including, the last Trading Day of the immediately preceding calendar quarter. 
 (2) Conversion upon
Satisfaction of Note Trading Price Condition. Prior to the Close of Business on the Business day immediately preceding April 15, 2024, a Holder may convert its Notes during the five (5) consecutive Business

  
 - 33 - 

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

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

(3) Conversion upon Specified Corporate Events. 

(a) Certain Distributions. If the Company elects to: 

(I) distribute, to all or substantially all holders of Common Stock, any rights, options or warrants (other than rights issued
pursuant to a stockholder rights plan, so long as such rights have not separated from the Common Stock and are not exercisable until the occurrence of a triggering event, except that such rights will be deemed to be distributed under this clause
(I) upon their separation from the Common Stock or upon the occurrence of such triggering event) entitling them, for a period of not more than sixty (60) calendar days after the record date of such

  
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distribution, to subscribe for or purchase shares of Common Stock at a price per share that is less than the average of the Last Reported Sale Prices per share of Common Stock for the ten
(10) consecutive Trading Days ending on, and including, the Trading Day immediately before the date such distribution is announced; or 

(II) distribute, to all or substantially all holders of Common Stock, any of our assets or securities of the Company or any
rights to purchase the Company’s securities, which distribution per share of Common Stock has a value, as reasonably determined by the Board of Directors, exceeding ten percent (10%) of the Last Reported Sale Price per share of Common Stock on
the Trading Day immediately before the date such distribution is announced, 
 then, in either case, (x) the Company will send notice
of such distribution, and of the related right to convert Notes, to Holders, the Trustee and the Conversion Agent at least sixty (60) Scheduled Trading Days before the Ex-Dividend Date for such
distribution; provided, however, that the Company may, at its election, instead send such notice at least 15 Scheduled Trading Days before such Ex-Dividend Date if (1) the Authorized Share
Effective Date has occurred on or before the date the Company sends such notice; (2) the Company irrevocably elects Physical Settlement to apply to all conversions of Notes with a Conversion Date occurring during the period from, but excluding,
the date of such notice to, and including, the Business Day immediately preceding such Ex-Dividend Date; and (3) the Company describes such irrevocable election in such notice; and (y) once the
Company has sent such notice, Holders may convert their Notes at any time until the earlier of the Close of Business on the Business Day immediately before such Ex-Dividend Date and the Company’s
announcement that such distribution will not take place. 
 (b) Certain Corporate Events. If a Fundamental Change,
Make-Whole Fundamental Change or Common Stock Change Event occurs, then, in each case, Holders may convert their Notes at any time from, and including, the effective date of such transaction or event to, and including, the thirty fifth (35th)
Trading Day after such effective date (or, if such transaction or event also constitutes a Fundamental Change, to, but excluding, the related Fundamental Change Repurchase Date); provided, however, that if the Company fails to provide
the notice referred to in the immediately following sentence by such effective date, then the last day on which the Notes are convertible pursuant to this sentence will be extended by the number of Business Days from, and including, such effective
date to, but excluding, the date the Company provides such notice. No later than such effective date, the Company will send notice to the Holders, the Trustee and the Conversion Agent of such transaction or event, such effective date and the related
right to convert Notes. 

  
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 (4) Conversions During Free Convertibility Period. A Holder may convert
its Notes at any time from, and including, April 15, 2024 until the Close of Business on the second (2nd) Scheduled Trading Day immediately before the Maturity Date. 

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

(ii) Limitations and Closed Periods. Notwithstanding anything to the contrary in this Indenture or the Notes: 

(1) Notes may be surrendered for conversion only after the Open of Business and before the Close of Business on a day that is a
Business Day; 
 (2) in no event may any Note be converted after the Close of Business on the second (2nd) Scheduled Trading
Day immediately before the Maturity Date; and 
 (3) if a Fundamental Change Repurchase Notice is validly delivered pursuant
to Section 4.02(F) with respect to any Note, then such Note may not be converted, except to the extent (a) such Note is not subject to such notice; (b) such notice is withdrawn in accordance with
Section 4.02(F); or (c) the Company fails to pay the Fundamental Change Repurchase Price for such Note in accordance with this Indenture. 

Section 5.02. CONVERSION PROCEDURES. 

(A) Generally. 

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

(B) Effect of Converting a Note. At the Close of Business on the Conversion Date for 

  
 - 36 - 

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

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

  
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conversion with respect to a Note, then the Conversion Agent will promptly notify the Company and the Trustee of such occurrence, together with any other information reasonably requested by the
Company, and will cooperate with the Company to determine the Conversion Date for such Note. 
 Section 5.03. SETTLEMENT
UPON CONVERSION. 
 (A) Settlement Method. Upon the conversion of any Note, the Company will settle
such conversion by paying or delivering, as applicable and as provided in this Article 5, either (x) shares of Common Stock, together, if applicable, with cash in lieu of fractional shares as provided in
Section 5.03(B)(i)(1) (a “Physical Settlement”); (y) solely cash as provided in Section 5.03(B)(i)(2) (a “Cash Settlement”); or (z) a combination of cash and
shares of Common Stock, together, if applicable, with cash in lieu of fractional shares as provided in Section 5.03(B)(i)(3) (a “Combination Settlement”), subject to the restrictions set forth in this
Section 5.03(A). 
 The Company will have the right, subject to the restrictions set forth in this
Section 5.03(A), to elect the Settlement Method applicable to any conversion of a Note; provided, however, that: 

(i) all conversions of Notes with a Conversion Date that occurs on or after the one hundred fifth (105th) Scheduled Trading Day
immediately before the Maturity Date will be settled using the same Settlement Method, and the Company will send notice of such Settlement Method to Holders and the Conversion Agent no later than the Close of Business on the one hundred fifth
(105th) Scheduled Trading Day immediately before the Maturity Date; 
 (ii) if the Company elects a Settlement Method with
respect to the conversion of any Note whose Conversion Date occurs before the one hundred fifth (105th) Scheduled Trading Day immediately before the Maturity Date, then the Company will send notice of such Settlement Method to the Holder of such
Note and the Conversion Agent no later than the Close of Business on the Business Day immediately after such Conversion Date; 

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

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

(v) if the Company timely elects Combination Settlement with respect to the conversion of a Note but does not timely notify the
Holder of such Note of the applicable Specified Dollar Amount, then the Specified Dollar Amount for such conversion will be 

  
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deemed to be $1,000 per $1,000 principal amount of Notes (and, for the avoidance of doubt, the failure to timely send such notification will not constitute a Default or Event of Default); and

 (vi) the Settlement Method will be subject to Section 5.08(A)(2). 

The Company agrees to use its reasonable best efforts to increase the number of authorized shares of Common Stock to an amount that is
sufficient to cover Physical Settlement of all outstanding Notes (assuming, for these purposes, that the maximum number of Additional Shares as set forth in Section 5.07(A) is added to the Conversion Rate). Increasing the
number of authorized shares of Common Stock will require the approval of the Company’s stockholders to amend the related provision of the Company’s certificate of incorporation. The Company will seek such approval, if not previously
obtained, at each of the next three regular annual meetings of the Company’s stockholders and the Company will endorse such approval in the related proxy materials. The first date on which the Company increases the number of authorized shares
of Common Stock as described in this Section 5.03(A) will be the “Authorized Share Effective Date.” The Company will notify Holders of the Authorized Share Effective Date no later than the Business Day
after such date occurs. In addition, until the Authorized Share Effective Date, the Company will be deemed to elect Cash Settlement, and the Company will be prohibited from electing Physical Settlement or Combination Settlement to settle Note
conversions. From and after the Authorized Share Effective Date, if such date occurs, the Company will have the right to elect to settle conversions by Physical Settlement, Combination Settlement or Cash settlement, subject to the provisions
described in Section 5.03(B). 
 (B) Conversion Consideration. 

(i) Generally. Subject to Section 5.03(B)(ii) and
Section 5.03(B)(iii), the type and amount of consideration (the “Conversion Consideration”) due in respect of each $1,000 principal amount of a Note to be converted will be as follows: 

(1) if Physical Settlement applies to such conversion, a number of shares of Common Stock equal to the Conversion Rate in
effect on the Conversion Date for such conversion; 
 (2) if Cash Settlement applies to such conversion, cash in an amount
equal to the sum of the Daily Conversion Values for each VWAP Trading Day in the Observation Period for such conversion; or 

(3) if Combination Settlement applies to such conversion, consideration consisting of (a) a number of shares of Common
Stock equal to the sum of the Daily Share Amounts for each VWAP Trading Day in the Observation Period for such conversion; and (b) an amount of cash equal to the sum of the Daily Cash Amounts for each VWAP Trading Day in such Observation
Period. 
 (ii) Cash in Lieu of Fractional Shares. If Physical Settlement or Combination Settlement applies to the
conversion of any Note and the number of shares of Common Stock deliverable pursuant to Section 5.03(B)(i) upon such conversion is not a whole 

  
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number, then such number will be rounded down to the nearest whole number and the Company will deliver, in addition to the other consideration due upon such conversion, cash in lieu of the
related fractional share in an amount equal to the product of (1) such fraction and (2) (x) the Daily VWAP on the Conversion Date for such conversion (or, if such Conversion Date is not a VWAP Trading Day, the immediately preceding VWAP Trading
Day), in the case of Physical Settlement; or (y) the Daily VWAP on the last VWAP Trading Day of the Observation Period for such conversion, in the case of Combination Settlement. 

(iii) Conversion of Multiple Notes by a Single Holder. If a Holder converts more than one (1) Note on a single
Conversion Date, then the Conversion Consideration due in respect of such conversion will (in the case of any Global Note, to the extent permitted by, and practicable under, the Depositary Procedures) be computed based on the total principal amount
of Notes converted on such Conversion Date by such Holder. 
 (iv) Notice of Calculation of Conversion Consideration.
If Cash Settlement or Combination Settlement applies to the conversion of any Note, then the Company will determine the Conversion Consideration due thereupon promptly following the last VWAP Trading Day of the applicable Observation Period and will
promptly thereafter send notice to the Trustee and the Conversion Agent of the same and the calculation thereof in reasonable detail. Neither the Trustee nor the Conversion Agent will have any duty to make any such determination. 

(C) Delivery of the Conversion Consideration. Except as set forth in Sections 5.05(D) and 5.08, the Company will pay or
deliver, as applicable, the Conversion Consideration due upon the conversion of any Note to the Holder as follows: (i) if Cash Settlement or Combination Settlement applies to such conversion, on the second (2nd) Business Day immediately after
the last VWAP Trading Day of the Observation Period for such conversion; and (ii) if Physical Settlement applies to such conversion, on the second (2nd) Business Day immediately after the Conversion Date for such conversion; provided,
however, that if Physical Settlement applies to the conversion of any Note with a Conversion Date that is after the Regular Record Date immediately before the Maturity Date, then, solely for purposes of such conversion, (x) the Company
will pay or deliver, as applicable, the Conversion Consideration due upon such conversion on the Maturity Date; and (y) the Conversion Date will instead be deemed to be the second (2nd) Business Day immediately before the Maturity Date. 

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

  
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cash. 
 Section 5.04. RESERVE AND STATUS
OF COMMON STOCK ISSUED UPON CONVERSION. 
 (A)
Stock Reserve. At all times from and after the Authorized Share Effective Date, if such date occurs, the Company will reserve, out of its authorized but unissued and unreserved shares of Common Stock, a number of shares of Common Stock
sufficient to permit the conversion of all then-outstanding Notes, assuming (x) Physical Settlement will apply to such conversion; and (y) the Conversion Rate is increased by the maximum amount pursuant to which the Conversion Rate may be
increased pursuant to Section 5.07. 
 (B) Status of Conversion Shares; Listing. Each Conversion Share, if
any, delivered upon conversion of any Note will be a newly issued or treasury share and will be duly and validly issued, fully paid, non-assessable, free from preemptive rights and free of any lien or adverse
claim (except to the extent of any lien or adverse claim created by the action or inaction of the Holder of such Note or the Person to whom such Conversion Share will be delivered). If the Common Stock is then listed on any securities exchange, or
quoted on any inter-dealer quotation system, then the Company will cause each Conversion Share, when delivered upon conversion of any Note, to be admitted for listing on such exchange or quotation on such system. 

Section 5.05. ADJUSTMENTS TO THE CONVERSION RATE. 

(A) Events Requiring an Adjustment to the Conversion Rate. The Conversion Rate will be adjusted from time to time as follows: 

(i) Stock Dividends, Splits and Combinations. If the Company issues solely shares of Common Stock as a dividend or
distribution on all or substantially all shares of the Common Stock, or if the Company effects a stock split or a stock combination of the Common Stock (in each case excluding an issuance solely pursuant to a Common Stock Change Event, as to which
the provisions set forth in Section 5.08 will apply), then the Conversion Rate will be adjusted based on the following formula: 
  

 
 where: 
  

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

  

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

 

	 	OS0    =	 the number of shares of Common Stock outstanding immediately before

  
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the Open of Business on such Ex-Dividend Date or effective date, as applicable, without giving effect to such dividend, distribution, stock split or stock
combination; and 

  

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

Any adjustment made under this Section 5.05(A)(i) will 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 stock split or stock combination, as applicable. If any dividend, distribution,
stock split or stock combination of the type described in this Section 5.05(A)(i) is declared or announced, but not so paid or made, then the Conversion Rate will be readjusted, effective as of the date the Board of
Directors determines not to pay such dividend or distribution or to effect such stock split or stock combination, to the Conversion Rate that would then be in effect had such dividend, distribution, stock split or stock combination not been declared
or announced. 
 (ii) Rights, Options and Warrants. If the Company distributes, to all or substantially all holders of
Common Stock, rights, options or warrants (other than rights issued or otherwise distributed pursuant to a stockholder rights plan, as to which the provisions set forth in Sections 5.05(A)(iii)(1) and 5.05(F) will apply) entitling such
holders, for a period of not more than sixty (60) calendar days after the record date of such distribution, to subscribe for or purchase shares of Common Stock at a price per share that is less than the average of the Last Reported Sale Prices
per share of Common Stock for the ten (10) consecutive Trading Days ending on, and including, the Trading Day immediately before the date such distribution is announced, then the Conversion Rate will be increased based on the following formula:

  
 

 
 where: 
  

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

 

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

 

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

 

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

  
 - 42 - 

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

Any adjustment made under this Section 5.05(A)(ii) will be made successively whenever any such rights, options or
warrants are distributed and will become effective immediately after the Open of Business on the Ex-Dividend Date for the distribution. To the extent that shares of Common Stock are not delivered after the
expiration of such rights, options or warrants (including as a result of such rights, options or warrants not being exercised), the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect had the increase to the
Conversion Rate for such distribution been made on the basis of delivery of only the number of shares of Common Stock actually delivered upon exercise of such rights, option or warrants. To the extent such rights, options or warrants are not so
distributed, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect had the Ex-Dividend Date for the distribution of such rights, options or warrants not occurred. 

For purposes of this Section 5.05(A)(ii) and Section 5.01(C)(i)(3)(a)(I), in determining
whether any rights, options or warrants entitle holders of Common Stock to subscribe for or purchase shares of Common Stock at a price per share that is less than the average of the Last Reported Sale Prices per share of Common Stock for the ten
(10) consecutive Trading Days ending on, and including, the Trading Day immediately before the date of the distribution of such rights, options or warrants is announced, and in determining the aggregate price payable to exercise such rights,
options or warrants, there will be taken into account any consideration the Company receives for such rights, options or warrants and any amount payable on exercise thereof, with the value of such consideration, if not cash, to be determined by the
Board of Directors. 
 (iii) Spin-Offs and Other Distributed Property. 

(1) Distributions Other than Spin-Offs. If the Company distributes shares of its Capital Stock, evidences of its
indebtedness or other assets or property of the Company, or rights, options or warrants to acquire Capital Stock of the Company or other securities, to all or substantially all holders of the Common Stock, excluding: 

(v) dividends, distributions, rights, options or warrants for which an adjustment to the Conversion Rate is required (or would
be required without regard to Section 5.05(C)) pursuant to Section 5.05(A)(i) or 5.05(A)(ii); 

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

  
 - 43 - 

 (x) rights issued or otherwise distributed pursuant to a stockholder rights
plan, except to the extent provided in Section 5.05(F); 
 (y) Spin-Offs for which an adjustment
to the Conversion Rate is required (or would be required without regard to Section 5.05(C)) pursuant to Section 5.05(A)(iii)(2); and 

(z) a distribution solely pursuant to a Common Stock Change Event, as to which the provisions set forth in
Section 5.08 will apply, 
 then the Conversion Rate will be increased based on the following formula: 

 
 

 
 where: 
  

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

 

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

 

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

  

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

 provided, however,
that if FMV is equal to or greater than SP, then, in lieu of the foregoing adjustment to the Conversion Rate, each Holder will receive, for each $1,000 principal amount of Notes held by such Holder on the record date for such
distribution, at the same time and on the same terms as holders of Common Stock, the amount and kind of shares of Capital Stock, evidences of indebtedness, assets, property, rights, options or warrants that such Holder would have received if such
Holder had owned, on such record date, a number of shares of Common Stock equal to the Conversion Rate in effect on such record date. 
 Any
adjustment made under this Section 5.05(A)(iii)(1) will become effective immediately after the Open of Business on the Ex-Dividend Date for such

  
 - 44 - 

 
distribution. To the extent such distribution is not so paid or made, or such rights, options or warrants are not exercised before their expiration (including as a result of being redeemed or
terminated), the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect had the adjustment been made on the basis of only the distribution, if any, actually made or paid or on the basis of the distribution of only
such rights, options or warrants, if any, that were actually exercised, if at all. 
 (2) Spin-Offs. If the Company
distributes or dividends shares of Capital Stock of any class or series, or similar equity interest, of or relating to an Affiliate, a Subsidiary or other business unit of the Company to all or substantially all holders of the Common Stock (other
than solely pursuant to a Common Stock Change Event, as to which the provisions set forth in Section 5.08 will apply), and such Capital Stock or equity interest is listed or quoted (or will be listed or quoted upon the
consummation of the transaction) on a U.S. national securities exchange (a “Spin-Off”), then the Conversion Rate will be increased based on the following formula: 

 
 

 
 where: 
  

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

 

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

 

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

  

	 	SP        =	the average of the Last Reported Sale Prices per share of Common Stock over the Spin-Off Valuation Period. 

The adjustment to the Conversion Rate pursuant to this Section 5.05(A)(iii)(2) will be calculated as of the Close of
Business on the last Trading Day of the Spin-Off Valuation Period but will be given effect immediately after the Open of 

  
 - 45 - 

 
Business on the Ex-Dividend Date for the Spin-Off, with retroactive effect. Notwithstanding anything to the
contrary in this Section 5.05(A)(iii)(2), (i) if the last VWAP Trading Day of the Observation Period for the conversion of a Note to be settled pursuant to Cash Settlement or Combination Settlement occurs during the Spin-Off Valuation Period for such Spin-Off, then, solely for purposes of determining the Conversion Consideration for such conversion, such
Spin-Off Valuation Period will be deemed to be the period from, and including, the Ex-Dividend Date for such Spin-Off to, and
including, the last VWAP Trading Day of such Observation Period (or, if such VWAP Trading Day is not a Trading Day, the immediately preceding Trading Day); and (ii) if the Conversion Date for a Note whose conversion is to be settled pursuant to
Physical Settlement occurs during the Spin-Off Valuation Period for a Spin-Off, then, solely for purposes of determining the Conversion Consideration for such
conversion, such Spin-Off Valuation Period will be deemed to be the period from, and including, the Ex-Dividend Date for such
Spin-Off to, and including, such Conversion Date (or, if such Conversion Date is not a Trading Day, the immediately preceding Trading Day). 

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

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

 
 where: 
  

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

 

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

 

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

 

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

  
 - 46 - 

 provided, however, that if D is equal to or greater than SP, then, in
lieu of the foregoing adjustment to the Conversion Rate, each Holder will receive, for each $1,000 principal amount of Notes held by such Holder on the record date for such dividend or distribution, at the same time and on the same terms as holders
of Common Stock, the amount of cash that such Holder would have received if such Holder had owned, on such record date, a number of shares of Common Stock equal to the Conversion Rate in effect on such record date. 

The adjustment to the Conversion Rate pursuant to this Section 5.05(A)(iv) will become effective immediately after
the Open of Business on the Ex-Dividend Date for such dividend or distribution. To the extent such dividend or distribution is declared but not made or paid, the Conversion Rate will be readjusted to the
Conversion Rate that would then be in effect had the adjustment been made on the basis of only the dividend or distribution, if any, actually made or paid. 

(v) Tender Offers or Exchange Offers. If the Company or any of its Subsidiaries makes a payment in respect of a tender
offer or exchange offer for shares of Common Stock, and the value (determined as of the Expiration Time by the Board of Directors) of the cash and other consideration paid per share of Common Stock in such tender or exchange offer exceeds the Last
Reported Sale Price per share of Common Stock on the Trading Day immediately after the last date (the “Expiration Date”) on which tenders or exchanges may be made pursuant to such tender or exchange offer (as it may be amended),
then the Conversion Rate will be increased based on the following formula: 
  
 

 
 where: 
  

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

 

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

  

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

 

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

  

	 	OS1    =	 the number of shares of Common Stock outstanding immediately after the Expiration Time (excluding all shares of
Common Stock accepted for 

  
 - 47 - 

	 	
purchase or exchange in such tender or exchange offer); and 

  

	 	SP     =	the average of the Last Reported Sale Prices per of Common Stock over the ten (10) consecutive Trading Day period (the “Tender/Exchange Offer Valuation Period”) beginning on, and including, the
Trading Day immediately after the Expiration Date; 

 provided, however, that the Conversion Rate will in no
event be adjusted down pursuant to this Section 5.05(A)(v), except to the extent provided in the immediately following paragraph. The adjustment to the Conversion Rate pursuant to this
Section 5.05(A)(v) will be calculated as of the Close of Business on the last Trading Day of the Tender/Exchange Offer Valuation Period but will be given effect immediately after the Expiration Time, with retroactive
effect. Notwithstanding anything to the contrary in this Section 5.05(A)(v), (i) if the last VWAP Trading Day of the Observation Period for the conversion of a Note to be settled pursuant to Cash Settlement or Combination
Settlement occurs during the Tender/Exchange Offer Valuation Period for such tender or exchange offer, then, solely for purposes of determining the Conversion Consideration due for such conversion, such Tender/Exchange Offer Valuation Period will be
deemed to be the period from, and including, the Trading Day immediately after the Expiration Date for such tender or exchange offer to, and including, the last VWAP Trading Day of such Observation Period (or, if such VWAP Trading Day is not a
Trading Day, the immediately preceding Trading Day); and (ii) if the Conversion Date for a Note whose conversion is to be settled pursuant to Physical Settlement occurs during the Tender/Exchange Offer Valuation Period for such tender or
exchange offer, then, solely for purposes of determining the Conversion Consideration for such conversion, such Tender/Exchange Offer Valuation Period will be deemed to be the period from, and including, the Trading Day immediately after the
Expiration Date to, and including, such Conversion Date (or, if such Conversion Date is not a Trading Day, the immediately preceding Trading Day). 

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

(B) No Adjustments in Certain Cases. 

(i) Where Holders Participate in the Transaction or Event Without Conversion. Notwithstanding anything to the contrary
in Section 5.05(A), the Company will not be obligated to adjust the Conversion Rate on account of a transaction or other event otherwise requiring an adjustment pursuant to Section 5.05(A) (other
than a stock split or combination of the type set forth in Section 5.05(A)(i) or a tender or exchange offer of the type set forth in Section 5.05(A)(v)) if each Holder participates, at the same
time and on the same terms as holders of Common Stock, and solely by virtue of being a 

  
 - 48 - 

 
Holder of Notes, in such transaction or event without having to convert such Holder’s Notes and as if such Holder held a number of shares of Common Stock equal to the product of (i) the
Conversion Rate in effect on the related record date, effective date or Expiration Date, as applicable; and (ii) the aggregate principal amount (expressed in thousands) of Notes held by such Holder on such date. 

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

(1) repurchases of Common Stock, including structured or derivative transactions, or transactions pursuant to a stock
repurchase program approved by the Board of Directors or otherwise, in each case that are not tender offers or exchange offers of the type referred to in Section 5.05(A)(v); 

(2) except as otherwise provided in Section 5.05, the sale of shares of Common Stock for a purchase
price that is less than the market price per share of Common Stock or less than the Conversion Price; 
 (3) the issuance of
any shares of Common Stock pursuant to any present or future plan providing for the reinvestment of dividends or interest payable on the Company’s securities and the investment of additional optional amounts in shares of Common Stock under any
such plan; 
 (4) the issuance of any shares of Common Stock or options or rights to purchase shares of Common Stock pursuant
to any present or future employee, director or consultant benefit plan, program or agreement of, or assumed by, the Company or any of its Subsidiaries; 

(5) the issuance of any shares of Common Stock pursuant to any option, warrant or right or any exercisable, convertible or
exchangeable security of the Company outstanding as of the Issue Date; 
 (6) a change in the par value of the Common Stock;
or 
 (7) accrued and unpaid interest on the Notes. 

(C) Adjustment Deferral. Notwithstanding anything to the contrary, before April 15, 2024, the Company may, at its election, defer
any adjustment to the Conversion Rate that would not result in an increase or decrease of at least one percent (1%); provided, however, that all such deferred adjustments will (i) be carried forward and taken into account in any
subsequent adjustments; and (ii) be given effect on April 15, 2024 and upon the occurrence of (x) the effective date for any Fundamental Change or Make-Whole Fundamental Change; (y) in the case of any Note to which Physical
Settlement applies, on the Conversion Date thereof and (z) in the case of any Note to which Cash Settlement or Combination Settlement applies, each VWAP Trading Day of the applicable Observation Period. 

  
 - 49 - 

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

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

(iii) the Conversion Consideration due upon such conversion (in the case of Physical Settlement) or due in respect of such VWAP
Trading Day (in the case of Combination Settlement) includes any whole shares of Common Stock; and 
 (iv) such shares are
not entitled to participate in such event (because they were not held on the related record date or otherwise), 
 then, solely for purposes of such
conversion, the Company will, without duplication, give effect to such adjustment on such Conversion Date (in the case of Physical Settlement) or such VWAP Trading Day (in the case of Combination Settlement). In such case, if the date on which the
Company is otherwise required to deliver the consideration due upon such conversion is before the first date on which the amount of such adjustment can be determined, then the Company will delay the settlement of such conversion until the second
(2nd) Business Day after such first date. 
 (E) Conversion Rate Adjustments where Converting Holders Participate in the Relevant
Transaction or Event. Notwithstanding anything to the contrary in this Indenture or the Notes, if: 
 (i) a Conversion
Rate adjustment for any dividend or distribution becomes effective on any Ex-Dividend Date pursuant to Section 5.05(A); 

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

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

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

(v) such shares would be entitled to participate in such dividend or 

  
 - 50 - 

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

(F) Stockholder Rights Plans. If any shares of Common Stock are to be issued upon conversion of any Note and, at the time of such
conversion, the Company has in effect any stockholder rights plan, then the Holder of such Note will be entitled to receive, in addition to, and concurrently with the delivery of, the Conversion Consideration otherwise payable under this Indenture
upon such conversion, the rights set forth in such stockholder rights plan, unless such rights have separated from the Common Stock at such time, in which case, and only in such case, the Conversion Rate will be adjusted pursuant to
Section 5.05(A)(iii)(1) on account of such separation as if, at the time of such separation, the Company had made a distribution of the type referred to in such Section to all holders of the Common Stock, subject to
readjustment in accordance with such Section if such rights expire, terminate or are redeemed. 
 (G) Limitation on Effecting Transactions
Resulting in Certain Adjustments. The Company will not engage in or be a party to any transaction or event that would require the Conversion Rate to be adjusted pursuant to Section 5.05(A) or
Section 5.07 to an amount that would result in the Conversion Price per share of Common Stock being less than the par value per share of Common Stock. 

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

(I) Calculation of Number of Outstanding Shares of Common Stock. For purposes of Section 5.05(A), the number
of shares of Common Stock outstanding at any time will (i) include shares issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock; and (ii) exclude shares of Common Stock held in the Company’s
treasury (unless the Company pays any dividend or makes any distribution on shares of Common Stock held in its treasury). 
 (J)
Calculations. All calculations with respect to the Conversion Rate and adjustments thereto will be made to the nearest cent (with 0.5 of a cent rounded upward) or to the nearest 1/10,000th of a share of Common Stock (with 5/100,000ths rounded
upward), as applicable. 

  
 - 51 - 

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

Section 5.06. VOLUNTARY ADJUSTMENTS. 

(A) Generally. To the extent permitted by law and applicable stock exchange rules, the Company, from time to time, may (but is not
required to) increase the Conversion Rate by any amount if (i) the Board of Directors determines that such increase is either (x) in the best interest of the Company; or (y) advisable to avoid or diminish any income tax imposed on
holders of Common Stock or rights to purchase Common Stock as a result of any dividend or distribution of shares (or rights to acquire shares) of Common Stock or any similar event; (ii) such increase is in effect for a period of at least twenty
(20) Business Days; and (iii) such increase is irrevocable during such period. 
 (B) Notice of Voluntary Increases. If the
Board of Directors determines to increase the Conversion Rate pursuant to this Section 5.06, then, at least fifteen (15) Business Days before such increase, the Company will send notice to each Holder of such increase,
the amount thereof and the period during which such increase will be in effect. 
 Section 5.07. ADJUSTMENTS TO
THE CONVERSION RATE IN CONNECTION WITH A MAKE-WHOLE FUNDAMENTAL CHANGE. 

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

 

																																									
	 	  	Stock Price	 
	 Effective Date
	  	$23.63	 	  	$25.00	 	  	$30.00	 	  	$31.90	 	  	$35.00	 	  	$40.00	 	  	$50.00	 	  	$60.00	 	  	$70.00	 	  	$80.00	 
	 September 29, 2017
	  	 	10.9715	 	  	 	9.7988	 	  	 	6.7023	 	  	 	5.8683	 	  	 	4.7791	 	  	 	3.5210	 	  	 	2.0558	 	  	 	1.2838	 	  	 	0.8340	 	  	 	0.5501	 
	 October 15, 2018
	  	 	10.9715	 	  	 	9.6692	 	  	 	6.4820	 	  	 	5.6332	 	  	 	4.5329	 	  	 	3.2795	 	  	 	1.8566	 	  	 	1.1328	 	  	 	0.7239	 	  	 	0.4723	 
	 October 15, 2019
	  	 	10.9715	 	  	 	9.5452	 	  	 	6.2383	 	  	 	5.3690	 	  	 	4.2534	 	  	 	3.0045	 	  	 	1.6330	 	  	 	0.9668	 	  	 	0.6054	 	  	 	0.3901	 
	 October 15, 2020
	  	 	10.9715	 	  	 	9.3944	 	  	 	5.9333	 	  	 	5.0386	 	  	 	3.9057	 	  	 	2.6678	 	  	 	1.3692	 	  	 	0.7788	 	  	 	0.4763	 	  	 	0.3038	 
	 October 15, 2021
	  	 	10.9715	 	  	 	9.1892	 	  	 	5.5243	 	  	 	4.5984	 	  	 	3.4497	 	  	 	2.2383	 	  	 	1.0548	 	  	 	0.5682	 	  	 	0.3389	 	  	 	0.2153	 
	 October 15, 2022
	  	 	10.9715	 	  	 	8.9116	 	  	 	4.9400	 	  	 	3.9730	 	  	 	2.8140	 	  	 	1.6695	 	  	 	0.6858	 	  	 	0.3458	 	  	 	0.2039	 	  	 	0.1318	 
	 October 15, 2023
	  	 	10.9715	 	  	 	8.5684	 	  	 	4.0053	 	  	 	2.9712	 	  	 	1.8354	 	  	 	0.8918	 	  	 	0.2914	 	  	 	0.1427	 	  	 	0.0884	 	  	 	0.0606	 
	 October 15, 2024
	  	 	10.9715	 	  	 	8.6525	 	  	 	1.9859	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 

 If such effective date or Stock Price is not set forth in the table above, then: 

(i) if such Stock Price is between two Stock Prices in the table above or the effective date is between two effective dates in
the table above, then the number of Additional Shares will be determined by a straight-line interpolation between the numbers of Additional Shares set forth for the higher and lower Stock Prices in the table

  
 - 52 - 

 
and the earlier and later effective date s in the table above, as applicable, based on a 365- or 366-day year, as
applicable; and 
 (ii) if the Stock Price is greater than $80.00 (subject to adjustment in the same manner as the Stock
Prices set forth in the column headings of the table above are adjusted pursuant to Section 5.07(B)), or less than $23.63 (subject to adjustment in the same manner), per share, then no Additional Shares will be added to the
Conversion Rate. 
 Notwithstanding anything to the contrary in this Indenture or the Notes, in no event will the Conversion Rate be
increased to an amount that exceeds 42.3190 shares of Common Stock per $1,000 principal amount of Notes, which amount is subject to adjustment in the same manner as, and at the same time and for the same events for which, the Conversion Rate is
required to be adjusted pursuant to Section 5.05(A). 
 (B) Adjustment of Stock Prices and Additional
Shares. The Stock Prices in the first row (i.e., the column headers) of the table set forth in Section 5.07(A) will be adjusted in the same manner as, and at the same time and for the same events for which, the
Conversion Price is adjusted as a result of the operation of Section 5.05(A). The numbers of Additional Shares in the table set forth in Section 5.07(A) will be adjusted in the same manner as, and
at the same time and for the same events for which, the Conversion Rate is adjusted pursuant to Section 5.07(A). 

(C) Notice of the Occurrence of a Make-Whole Fundamental Change. The Company will notify the Holders, the Trustee and the Conversion
Agent of each Make-Whole Fundamental Change in accordance with Section 5.01(C)(i)(3)(b). 
 (D) Settlement of
Cash Make-Whole Fundamental Changes. For the avoidance of doubt, if holders of Common Stock receive solely cash in a Make-Whole Fundamental Change, then, pursuant to Section 5.08, conversions of Notes will thereafter be
settled no later than the third (3rd) Business Day after the relevant Conversion Date. 
 Section 5.08. EFFECT OF
COMMON STOCK CHANGE EVENT. 
 (A) Generally. If there occurs any: 

(i) recapitalization, reclassification or change of the Common Stock (other than (x) changes solely resulting from a
subdivision or combination of the Common Stock, (y) a change only in par value or from par value to no par value or no par value to par value and (z) stock splits and stock combinations that do not involve the issuance of any other series
or class of securities); 
 (ii) consolidation, merger, combination or binding or statutory share exchange involving the
Company; 
 (iii) sale, lease or other transfer of all or substantially all of the assets of the Company and its
Subsidiaries, taken as a whole, to any Person; or 
 (iv) other similar event, 

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

(1) at the effective time of such Common Stock Change Event, (I) the Conversion Consideration due upon conversion of any
Note, and the conditions to any such conversion, will be determined in the same manner as if each reference to any number of shares of Common Stock in this Article 5 (or in any related definitions) were instead a reference to the same number
of Reference Property Units; and (II) for purposes of the definition of “Fundamental Change” and “Make-Whole Fundamental Change,” the term “Common Stock” and “common equity” will be deemed to mean the
common equity, if any, forming part of such Reference Property; 
 (2) if such Reference Property Unit consists entirely of
cash, then the Company will be deemed to elect Cash Settlement in respect of all conversions whose Conversion Date occurs on or after the effective date of such Common Stock Change Event and will pay the cash due upon such conversions no later than
the tenth (10th) Business Day after the relevant Conversion Date; and 
 (3) for these purposes, the Daily VWAP or Last
Reported Sale Price of any Reference Property Unit or portion thereof that does not consist of a class of securities will be the fair value of such Reference Property Unit or portion thereof, as applicable, determined in good faith by the Company
(or, in the case of cash denominated in U.S. dollars, the face amount thereof). 
 If the Reference Property consists of more than a single
type of consideration to be determined based in part upon any form of stockholder election, then the composition of the Reference Property Unit will be deemed to be (x) the weighted average, per share of Common Stock, of the types and amounts
of consideration received by the holders of Common Stock that affirmatively make such an election; or (y) if no holders of Common Stock affirmatively make such an election, the types and amounts of consideration actually received, per share of
Common Stock, by the holders of Common Stock. The Company will notify Holders of the weighted average as soon as practicable after such determination is made. 

At or before the effective time of such Common Stock Change Event, the Company and the resulting, surviving or transferee Person (if not the
Company) of such Common Stock Change Event (the “Successor Person”) will execute and deliver to the Trustee a supplemental indenture pursuant to Section 8.01(F), which supplemental indenture will
(x) provide for subsequent conversions of Notes in the manner set forth in this Section 5.08; (y) provide for subsequent adjustments to the Conversion Rate pursuant to Section 5.07(A) in a
manner consistent with this Section 5.08; and (z) contain such other provisions as the Company 

  
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reasonably determines are appropriate to preserve the economic interests of the Holders and to give effect to the provisions of this Section 5.08(A). If the Reference
Property includes shares of stock or other securities or assets of a Person other than the Successor Person, then such other Person will also execute such supplemental indenture and such supplemental indenture will contain such additional provisions
the Company reasonably determines are appropriate to preserve the economic interests of the Holders. 
 (B) Notice of Common Stock Change
Events. The Company will provide notice of each Common Stock Change Event in the manner provided in Section 5.01(C)(i)(3)(b). 
 (C)
Compliance Covenant. The Company will not become a party to any Common Stock Change Event unless its terms are consistent with this Section 5.08. 

Article 6. SUCCESSORS 

Section 6.01. WHEN THE COMPANY MAY MERGE, ETC. 

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

(i) the resulting, surviving or transferee Person either (x) is the Company or (y) if not the Company, is a
corporation (the “Successor Corporation”) duly organized and existing under the laws of the United States of America, any State thereof or the District of Columbia that expressly assumes (by executing and delivering to the Trustee,
at or before the effective time of such Business Combination Event, a supplemental indenture pursuant to Section 8.01(E)) all of the Company’s obligations under this Indenture and the Notes; and 

(ii) immediately after giving effect to such Business Combination Event, no Default or Event of Default will have occurred and
be continuing. 
 (B) Delivery of Officer’s Certificate and Opinion of Counsel to the Trustee. Before the effective time of any
Business Combination Event, the Company will deliver to the Trustee an Officer’s Certificate and Opinion of Counsel, each stating that (i) such Business Combination Event (and, if applicable, the related supplemental indenture) comply with
Section 6.01(A); and (ii) all conditions precedent to such Business Combination Event provided in this Indenture have been satisfied. 

Section 6.02. SUCCESSOR CORPORATION SUBSTITUTED. 

At the effective time of any Business Combination Event that complies with Section 6.01, the Successor Corporation
(if not the Company) will succeed to, and may exercise every right and power of, the Company under this Indenture and the Notes with the same effect as if such Successor Corporation had been named as the Company in this Indenture and the Notes, and,
except in the case of a lease, the predecessor Company will be discharged from its obligations under this Indenture and the Notes. 

  
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 Article 7. DEFAULTS AND REMEDIES 

Section 7.01. EVENTS OF DEFAULT. 

(A) Definition of Events of Default. “Event of Default” means the occurrence of any of the following: 

(i) a default in the payment when due (whether at maturity, upon Repurchase Upon Fundamental Change or otherwise) of the
principal of, or the Fundamental Change Repurchase Price for, any Note; 
 (ii) a default for thirty (30) days in the
payment when due of interest on any Note; 
 (iii) the Company’s failure to deliver, when required by this Indenture, a
Fundamental Change Notice, or a notice pursuant to Section 5.01(C)(i)(3); 
 (iv) a default in the
Company’s obligation to convert a Note in accordance with Article 5 upon the exercise of the conversion right with respect thereto and such failure continues for a period of five (5) Business Days; 

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

(vi) a default in any of the Company’s obligations or agreements under this Indenture or the Notes (other than a default
set forth in clause (i), (ii), (iii), (iv) or (v) of this Section 7.01(A)) where such default is not cured or waived within sixty (60) days after notice to the Company by
the Trustee, or to the Company and the Trustee by Holders of at least twenty five percent (25%) of the aggregate principal amount of Notes then outstanding, which notice must specify such default, demand that it be remedied and state that the such
notice is a “Notice of Default”; 
 (vii) a default by the Company or any of its Subsidiaries with respect to any
one or more mortgages, agreements or other instruments under which there is outstanding, or by which there is secured or evidenced, any indebtedness for money borrowed of at least twenty million dollars ($20,000,000) (or its foreign currency
equivalent) in the aggregate of the Company or any of its Subsidiaries, whether such indebtedness exists as of the Issue Date or is thereafter created, where such default: 

(1) constitutes a failure to pay the principal of, or premium or interest on, any of such indebtedness when due and payable at
its stated maturity, upon required repurchase, upon declaration of acceleration or otherwise; or 
 (2) results in such
indebtedness becoming or being declared due and payable before its stated maturity, 
 provided, however, that if such default ceases or is
cured, waived, rescinded or annulled, then any default under this clause (vii) will be deemed no longer to be continuing; 

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

(ix) the Company or any of its Significant Subsidiaries, pursuant to or within the meaning of any Bankruptcy Law, either: 

(1) commences a voluntary case or proceeding; 

(2) consents to the entry of an order for relief against it in an involuntary case or proceeding; 

(3) consents to the appointment of a custodian of it or for any substantial part of its property; 

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

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

(6) generally is not paying its debts as they become due; or 

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

(1) is for relief against Company or any of its Significant Subsidiaries in an involuntary case or proceeding; 

(2) appoints a custodian of the Company or any of its Significant Subsidiaries, or for any substantial part of the property of
the Company or any of its Significant Subsidiaries; 
 (3) orders the winding up or liquidation of the Company or any of its
Significant Subsidiaries; or 
 (4) grants any similar relief under any foreign Bankruptcy Law, 

and, in each case under this Section 7.01(A)(x), such order or decree remains unstayed and in effect for at least
sixty (60) days. 
 (B) Cause Irrelevant. Each of the events set forth in Section 7.01(A) will
constitute an Event of Default regardless of the cause thereof or whether voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or
governmental body. 

  
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 Section 7.02. ACCELERATION. 

(A) Automatic Acceleration in Certain Circumstances. If an Event of Default set forth in Section 7.01(A)(ix)
or 7.01(A)(x) occurs with respect to the Company (and not solely with respect to a Significant Subsidiary of the Company), then the principal amount of, and all accrued and unpaid interest on, all of the Notes then outstanding will
immediately become due and payable without any further action or notice by any Person. 
 (B) Optional Acceleration. Subject to
Section 7.03, if an Event of Default (other than an Event of Default set forth in Section 7.01(A)(ix) or 7.01(A)(x) with respect to the Company and not solely with respect to a Significant
Subsidiary of the Company) occurs and is continuing, then the Trustee, by notice to the Company, or Holders of at least twenty five percent (25%) of the aggregate principal amount of Notes then outstanding, by notice to the Company and the Trustee,
may declare the principal amount of, and all accrued and unpaid interest on, all of the Notes then outstanding to become due and payable immediately. 

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

Section 7.03. SOLE REMEDY FOR A FAILURE TO
REPORT. 
 (A) Generally. Notwithstanding anything to the contrary in this Indenture or the Notes, the Company may
elect that the sole remedy for any Event of Default (a “Reporting Event of Default”) pursuant to Section 7.01(A)(vi) arising from the Company’s failure to comply with
Section 3.02 will, for each of the first one hundred eighty (180) calendar days on which a Reporting Event of Default has occurred and is continuing, consist exclusively of the accrual of Special Interest on the Notes.
If the Company has made such an election, then (i) the Notes will be subject to acceleration pursuant to Section 7.02 on account of the relevant Reporting Event of Default from, and including, the one hundred eighty
first (181st) calendar day on which a Reporting Event of Default has occurred and is continuing or if the Company fails to pay any accrued and unpaid Special Interest when due; and (ii) Special Interest will cease to accrue on any Notes from,
and including, such one hundred eighty first (181st) calendar day (it being understood that interest on any defaulted Special Interest will nonetheless accrue pursuant to Section 2.05(B)). 

(B) Amount and Payment of Special Interest. Any Special Interest that accrues on a Note pursuant to
Section 7.03(A) will be payable on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof
for the first ninety (90) days on which Special Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof. For the avoidance of doubt, any Special Interest that accrues on a

  
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Note will be in addition to the Stated Interest that accrues on such Note and in addition to any Additional Interest that accrues on such Note; provided, however, that in no event
will the aggregate of any Additional Interest that accrues on a Note and any Special Interest that accrues on such Note accrue at a combined rate per annum in excess of 0.50% of the principal amount thereof, regardless of the number of events or
circumstances giving rise to requirements to pay such Additional Interest or Special Interest. 
 (C) Notice of Election. To make the
election set forth in Section 7.03(A), the Company must send to the Holders, the Trustee and the Paying Agent, before the date on which each Reporting Event of Default first occurs, a notice that (i) briefly describes
of the report(s) that the Company failed to file with or furnish to the SEC; (ii) states that the Company is electing that the sole remedy for such Reporting Event of Default consist of the accrual of Special Interest; and (iii) briefly
describes the periods during which and rate at which Special Interest will accrue and the circumstances under which the Notes will be subject to acceleration on account of such Reporting Event of Default. 

(D) Notice to Trustee and Paying Agent; Trustee’s Disclaimer. If Special Interest accrues on any Note, then, no later than five
(5) Business Days before each date on which such Special Interest is to be paid, the Company will deliver an Officer’s Certificate to the Trustee and the Paying Agent stating (i) that the Company is obligated to pay Special Interest
on such Note on such date of payment; and (ii) the amount of such Special Interest that is payable on such date of payment. The Trustee will have no duty to determine whether any Special Interest is payable or the amount thereof. 

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

Section 7.04. OTHER REMEDIES. 

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

(B) Procedural Matters. The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of
them in such proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy following an Event of Default will not impair the right or remedy or constitute a waiver of, or acquiescence in, such Event of Default. All
remedies will be cumulative to the extent permitted by law. 
 Section 7.05. WAIVER OF PAST
DEFAULTS. 
 An Event of Default pursuant to clause (i), (ii), (iv) or (vi) of
Section 7.01(A) (that, in the case of clause (vi) only, results from a Default under any covenant that cannot be amended without the consent of each affected Holder), and a Default that could lead to such an
Event of Default, can be waived only with the consent of each affected Holder. Each other Default or Event of Default may be waived, on behalf of all Holders, by the Holders of a majority in 

  
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aggregate principal amount of the Notes then outstanding. If an Event of Default is so waived, then it will cease to exist. If a Default is so waived, then it will be deemed to be cured and any
Event of Default arising therefrom will be deemed not to occur. However, no such waiver will extend to any subsequent or other Default or Event of Default or impair any right arising therefrom. 

Section 7.06. CONTROL BY MAJORITY. 

Holders of a majority in aggregate principal amount of the Notes then outstanding may direct the time, method and place of conducting any
proceeding for exercising any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to follow any direction that conflicts with law, this Indenture or the Notes, or that, subject to
Section 10.01, the Trustee determines may be unduly prejudicial to the rights of other Holders or may involve the Trustee in liability, unless the Trustee is offered security and indemnity satisfactory to the Trustee
against any loss, liability or expense to the Trustee that may result from the Trustee’s following such direction. 
 Section 7.07.
LIMITATION ON SUITS. 
 No Holder may pursue any remedy with respect to this Indenture or
the Notes (except to enforce (x) its rights to receive the principal of, or the Fundamental Change Repurchase Price for, or interest on, any Notes; or (y) the Company’s obligations to convert any Notes pursuant to Article 5),
unless: 
 (A) such Holder has previously delivered to the Trustee notice that an Event of Default is continuing; 

(B) Holders of at least twenty five percent (25%) in aggregate principal amount of the Notes then outstanding deliver a request to the Trustee
to pursue such remedy; 
 (C) such Holder or Holders offer and, if requested, provide to the Trustee security and indemnity satisfactory to
the Trustee against any loss, liability or expense to the Trustee that may result from the Trustee’s following such request; 
 (D) the
Trustee does not comply with such request within sixty (60) calendar days after its receipt of such request and such offer of security or indemnity; and 

(E) during such sixty (60) calendar day period, Holders of a majority in aggregate principal amount of the Notes then outstanding do not
deliver to the Trustee a direction that is inconsistent with such request. 
 A Holder of a Note may not use this Indenture to prejudice the
rights of another Holder or to obtain a preference or priority over another Holder. The Trustee will have no duty to determine whether any Holder’s use of this Indenture complies with the preceding sentence. 

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

Section 7.09. COLLECTION SUIT BY TRUSTEE. 

The Trustee will have the right, upon the occurrence and continuance of an Event of Default pursuant to clause (i), (ii)
or (iv) of Section 7.01(A), to recover judgment in its own name and as trustee of an express trust against the Company for the total unpaid or undelivered principal of, or Fundamental Change Repurchase Price
for, or interest on, or Conversion Consideration due pursuant to Article 5 upon conversion of, the Notes, as applicable, and, to the extent lawful, any Default Interest on any Defaulted Amounts, and such further amounts sufficient to cover
the costs and expenses of collection, including compensation provided for in Section 10.06. 
 Section 7.10.
TRUSTEE MAY FILE PROOFS OF CLAIM. 
 The
Trustee has the right to (A) file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee and the Holders allowed in any judicial proceedings relative to the Company (or any
other obligor upon the Notes) or its creditors or property and (B) collect, receive and distribute any money or other property payable or deliverable on any such claims. Each Holder authorizes any custodian in such proceeding to make such
payments to the Trustee, and, if the Trustee consents to the making of such payments directly to the Holders, to pay to the Trustee any amount due to the Trustee for the reasonable compensation, expenses, disbursements and advances of the Trustee,
and its agents and counsel, and any other amounts payable to the Trustee pursuant to Section 10.06. To the extent that the payment of any such compensation, expenses, disbursements, advances and other amounts out of the
estate in such proceeding, is denied for any reason, payment of the same will be secured by a lien on, and will be paid out of, any and all distributions, dividends, money, securities and other properties that the Holders may be entitled to receive
in such proceeding (whether in liquidation or under any plan of reorganization or arrangement or otherwise). Nothing in this Indenture will be deemed to authorize the Trustee to authorize, consent to, accept or adopt on behalf of any Holder any plan
of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

  
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 Section 7.11. PRIORITIES. 

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

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

Second: to Holders for unpaid amounts or other property due on the Notes, including the principal of, or the Fundamental
Change Repurchase Price for, or any interest on, or any Conversion Consideration due upon conversion of, the Notes, ratably, and without preference or priority of any kind, according to such amounts or other property due and payable on all of the
Notes; and 
 Third: to the Company or such other Person as a court of competent jurisdiction directs. 

The Trustee may fix a record date and payment date for any payment or delivery to the Holders pursuant to this
Section 7.11, in which case the Trustee will instruct the Company to, and the Company will, deliver, at least fifteen (15) calendar days before such record date, to each Holder and the Trustee a notice stating such
record date, such payment date and the amount of such payment or nature of such delivery, as applicable. 
 Section 7.12. UNDERTAKING
FOR COSTS. 
 In any suit for the enforcement of any right or remedy under this Indenture or the Notes or
in any suit against the Trustee for any action taken or omitted by it as Trustee, a court, in its discretion, may (A) require the filing by any litigant party in such suit of an undertaking to pay the costs of such suit, and (B) assess
reasonable costs (including reasonable attorneys’ fees) against any litigant party in such suit, having due regard to the merits and good faith of the claims or defenses made by such litigant party; provided, however, that this
Section 7.12 does not apply to any suit by the Trustee, any suit by a Holder pursuant to Section 7.08 or any suit by one or more Holders of more than ten percent (10%) in aggregate principal amount
of the Notes then outstanding. 
 Article 8. AMENDMENTS, SUPPLEMENTS AND WAIVERS 

Section 8.01. WITHOUT THE CONSENT OF HOLDERS. 

Notwithstanding anything to the contrary in Section 8.02, the Company and the Trustee may amend or supplement this
Indenture or the Notes without the consent of any Holder to: 
 (A) cure any ambiguity or correct any omission, defect or inconsistency in
this Indenture or the Notes; 
 (B) add guarantees with respect to the Company’s obligations under this Indenture or

  
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the Notes; 
 (C) secure the Notes; 

(D) add to the Company’s covenants or Events of Default for the benefit of the Holders or surrender any right or power conferred on the
Company; 
 (E) provide for the assumption of the Company’s obligations under this Indenture and the Notes pursuant to, and in
compliance with, Article 6; 
 (F) enter into supplemental indentures pursuant to, and in accordance with,
Section 5.08 in connection with a Common Stock Change Event; 
 (G) irrevocably elect or eliminate any Settlement
Method or Specified Dollar Amount, subject to the restrictions set forth in Section 5.03(A); provided, however, that no such election or elimination will affect any settlement method theretofore elected (or
deemed to be elected) with respect to any Note pursuant to Section 5.03(A); 
 (H) evidence or provide for the
acceptance of the appointment, under this Indenture, of a successor Trustee; 
 (I) conform the provisions of this Indenture and the Notes to
the “Description of Notes” section of the Company’s Preliminary Offering Memorandum, dated September 24, 2017, as supplemented by the related Pricing Term Sheet, dated September 25, 2017; 

(J) provide for or confirm the issuance of additional Notes pursuant to Section 2.03(B); 

(K) comply with any requirement of the SEC in connection with any qualification of this Indenture or any supplemental indenture under the Trust
Indenture Act, as then in effect; or 
 (L) make any other change to this Indenture or the Notes that does not, individually or in the
aggregate with all other such changes, adversely affect the rights of the Holders, as such, in any material respect. 
 Section 8.02.
WITH THE CONSENT OF HOLDERS. 
 (A) Generally. Subject
to Sections 8.01, 7.05 and 7.08 and the immediately following sentence, the Company and the Trustee may, with the consent of the Holders of a majority in aggregate principal amount of the Notes then outstanding, amend or
supplement this Indenture or the Notes or waive compliance with any provision of this Indenture or the Notes. Notwithstanding anything to the contrary in the foregoing sentence, without the consent of each affected Holder, no amendment or supplement
to this Indenture or the Notes, or waiver of any provision of this Indenture or the Notes, may: 
 (i) reduce the principal,
or extend the stated maturity, of any Note; 
 (ii) reduce the Fundamental Change Repurchase Price for any Note or change

  
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the times at which, or the circumstances under which, the Notes will be repurchased by the Company; 

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

(iv) make any change that adversely affects the conversion rights of any Note; 

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

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

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

 (ix) make any direct or indirect change to any amendment, supplement, waiver or modification provision of this Indenture
or the Notes that requires the consent of each affected Holder. 
 For the avoidance of doubt, pursuant to clauses (i),
(ii), (iii) and (iv) of this Section 8.02(A), no amendment or supplement to this Indenture or the Notes, or waiver of any provision of this Indenture or the Notes, may change the amount or type of
consideration due on any Note (whether on an Interest Payment Date, Fundamental Change Repurchase Date or the Maturity Date or upon conversion, or otherwise), or the date(s) or time(s) such consideration is payable or deliverable, as applicable,
without the consent of each affected Holder. 
 (B) Holders Need Not Approve the Particular Form of any Amendment. A consent of any
Holder pursuant to this Section 8.02 need approve only the substance, and not necessarily the particular form, of the proposed amendment, supplement or waiver. 

Section 8.03. NOTICE OF AMENDMENTS, SUPPLEMENTS AND WAIVERS.

 Promptly after any amendment, supplement or waiver pursuant to Section 8.01 or 8.02 becomes effective, the
Company will send to the Holders and the Trustee notice that (A) describes the substance of such amendment, supplement or waiver in reasonable detail and (B) states the effective date thereof. The failure to send, or the existence of any
defect in, such notice will not impair or affect the validity of such amendment, supplement or waiver. 
 Section 8.04. REVOCATION,
EFFECT AND SOLICITATION OF CONSENTS; SPECIAL RECORD DATES; ETC. 

(A) Revocation and Effect of Consents. The consent of a Holder of a Note to an amendment, supplement or waiver will bind (and constitute
the consent of) each subsequent Holder of any Note to the extent the same evidences any portion of the same indebtedness as the 

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

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

Section 8.05. NOTATIONS AND EXCHANGES. 

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

Section 8.06. TRUSTEE TO EXECUTE SUPPLEMENTAL INDENTURES. 

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

  
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 Article 9. SATISFACTION AND DISCHARGE 

Section 9.01. TERMINATION OF COMPANY’S OBLIGATIONS. 

This Indenture will be discharged, and will cease to be of further effect as to all Notes issued under this Indenture, when: 

(A) all Notes then outstanding (other than Notes replaced pursuant to Section 2.13) have (i) been delivered to
the Trustee for cancellation; or (ii) become due and payable (whether on a Fundamental Change Repurchase Date, the Maturity Date, upon conversion or otherwise) for an amount of cash or Conversion Consideration, as applicable, that has been
fixed; 
 (B) the Company has caused there to be irrevocably deposited with the Trustee, or with the Paying Agent (or, with respect to
Conversion Consideration, the Conversion Agent), in each case for the benefit of the Holders, or has otherwise caused there to be delivered to the Holders, cash (or, with respect to Notes to be converted, Conversion Consideration) sufficient to
satisfy all amounts or other property due on all Notes then outstanding (other than Notes replaced pursuant to Section 2.13); 

(C) the Company has paid all other amounts payable by it under this Indenture; and 

(D) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that the conditions
precedent to the discharge of this Indenture have been satisfied; 
 provided, however, that Article 10 and
Section 11.01 will survive such discharge and, until no Notes remain outstanding, Section 2.15 and the obligations of the Trustee, the Paying Agent and the Conversion Agent with respect to money or
other property deposited with them will survive such discharge. 
 At the Company’s request, the Trustee will acknowledge the
satisfaction and discharge of this Indenture. 
 Section 9.02. REPAYMENT TO COMPANY. 

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

  
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 Section 9.03. REINSTATEMENT. 

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

Article 10. TRUSTEE 

Section 10.01. DUTIES OF THE TRUSTEE. 

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

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

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

(ii) in the absence of bad faith or willful misconduct on its part, the Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon Officer’s Certificates or Opinions of Counsel that are provided to the Trustee and conform to the requirements of this Indenture. However, the Trustee will examine the
certificates and opinions to determine whether or not they conform to the requirements of this Indenture. 
 (C) The Trustee may not be
relieved from liabilities for its negligence, bad faith or willful misconduct, except that: 
 (i) this paragraph will not
limit the effect of Section 10.01(B); 
 (ii) the Trustee will not be liable for any error of
judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 

(iii) the Trustee will not be liable with respect to any action it takes or omits to take in good faith in accordance with a
direction received by it pursuant to Section 7.06. 
 (D) Each provision of this Indenture that in any way relates
to the Trustee is subject to 

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

(E) No provision of this Indenture will require the Trustee to expend or risk its own funds or incur any liability. 

(F) The Trustee will not be liable for interest on any money received by it, except as the Trustee may agree in writing with the Company. Money
held in trust by the Trustee need not be segregated from other funds, except to the extent required by law. 
 Section 10.02. RIGHTS
OF THE TRUSTEE. 
 (A) The Trustee may conclusively rely on any document that is believes to
be genuine and signed or presented by the proper Person, and the Trustee need not investigate any fact or matter stated in such document. 

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

(C) The Trustee may act through its attorneys and agents and will not be responsible for the misconduct or negligence of any such agent
appointed with due care. 
 (D) The Trustee will not be liable for any action it takes or omits to take in good faith and that it believes to
be authorized or within the rights or powers vested in it by this Indenture. 
 (E) Unless otherwise specifically provided in this Indenture,
any demand, request, direction or notice from the Company will be sufficient if signed by an Officer of the Company. 
 (F) The Trustee need
not exercise any rights or powers vested in it by this Indenture at the request or direction of any Holder unless such Holder has offered the Trustee security or indemnity satisfactory to the Trustee against any loss, liability or expense that it
may incur in complying with such request or direction. 
 Section 10.03. INDIVIDUAL RIGHTS OF
THE TRUSTEE. 
 The Trustee, in its individual or any other capacity, may become the owner or pledgee of
any Note and may otherwise deal with the Company or any of its Affiliates with the same rights that it would have if it were not Trustee; provided, however, that if the Trustee acquires a “conflicting interest” (within the
meaning of Section 310(b) of the Trust Indenture Act), then it must eliminate such conflict within ninety (90) days or resign as Trustee. Each Note Agent will have that same rights and duties as the trustee under this
Section 10.03. 

  
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 Section 10.04. TRUSTEE’S DISCLAIMER. 

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

If a Default or Event of Default occurs and is continuing and is known to the Trustee, then the Trustee will send Holders a notice of such
Default or Event of Default within ninety (90) days after it occurs or, if it is not known to the Trustee at such time, promptly (and in any event within ten (10) Business Days) after it becomes known to a Responsible Officer;
provided, however, that, except in the case of a Default or Event of Default in the payment of the principal of, or interest on, any Note, the Trustee may withhold such notice if and for so long as it in good faith determines that
withholding such notice is in the interests of the Holders. 
 Section 10.06. COMPENSATION AND
INDEMNITY. 
 (A) The Company will, from time to time, pay the Trustee reasonable compensation for its acceptance of this
Indenture and services under this Indenture. The Trustee’s compensation will not be limited by any law on compensation of a trustee of an express trust. In addition to the compensation for the Trustee’s services, the Company will reimburse
the Trustee promptly upon request for all reasonable disbursements, advances and expenses incurred or made by it under this Indenture, including the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel. 

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

  
 - 69 - 

 
unreasonably withheld. 
 (C) The obligations of the Company under this
Section 10.06 will survive the resignation or removal of the Trustee and the discharge of this Indenture. 
 (D) To
secure the Company’s payment obligations in this Section 10.06, the Trustee will have a lien prior to the Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal of,
or interest on, particular Notes, which lien will survive the discharge of this Indenture. 
 (E) If the Trustee incurs expenses or renders
services after an Event of Default pursuant to clause (ix) or (x) of Section 7.01(A) occurs, then such expenses and the compensation for such services (including the fees and expenses of its agents
and counsel) are intended to constitute expenses of administration under any Bankruptcy Law. 
 Section 10.07. REPLACEMENT
OF THE TRUSTEE. 
 (A) Notwithstanding anything to the contrary in this
Section 10.07, a resignation or removal of the Trustee, and the appointment of a successor Trustee, will become effective only upon such successor Trustee’s acceptance of appointment as provided in this
Section 10.07. 
 (B) The Trustee may resign at any time and be discharged from the trust created by this Indenture
by so notifying the Company. The Holders of a majority in aggregate principal amount of the Notes then outstanding may remove the Trustee by so notifying the Trustee and the Company in writing. The Company may remove the Trustee if: 

(i) the Trustee fails to comply with Section 10.09; 

(ii) the Trustee is adjudged to be bankrupt or insolvent or an order for relief is entered with respect to the Trustee under
any Bankruptcy Law; 
 (iii) a custodian or public officer takes charge of the Trustee or its property; or 

(iv) the Trustee becomes incapable of acting. 

(C) If the Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason, then (i) the Company will
promptly appoint a successor Trustee; and (ii) at any time within one (1) year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the Notes then outstanding may appoint a successor Trustee
to replace such successor Trustee appointed by the Company. 
 (D) If a successor Trustee does not take office within sixty (60) days
after the retiring Trustee resigns or is removed, then the retiring Trustee, the Company or the Holders of at least ten percent (10%) in aggregate principal amount of the Notes then outstanding may petition any court of competent jurisdiction for
the appointment of a successor Trustee. 
 (E) If the Trustee, after written request by a Holder of at least six (6) months, fails to
comply with Section 10.09, then such Holder may petition any court of competent jurisdiction 

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

SECTION 10.08. SUCCESSOR TRUSTEE BY MERGER, ETC. 

If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, then such
corporation will become the successor Trustee without any further act. 
 SECTION 10.09. ELIGIBILITY;
DISQUALIFICATION. 
 There will at all times be a Trustee under this Indenture that is a corporation organized and doing
business under the laws of the United States of America or of any state thereof, that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a
combined capital and surplus of at least $100.0 million as set forth in its most recent published annual report of condition. 

SECTION 10.10. REPORTS BY TRUSTEE. 

The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to
this Indenture at the times and in the manner provided pursuant thereto. A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange, if any, upon which the Notes are listed, with
the SEC and with the Company. The Company will notify the Trustee when the Notes are listed on any stock exchange or of any delisting thereof. 

Article 11. MISCELLANEOUS 

SECTION 11.01. NOTICES. 

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

Air Transport Services Group, Inc. 

145 Hunter Drive 

  
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 Wilmington, Ohio 45177 

Facsimile: (937) 382-2452 

Attention: Chief Legal Officer 

with a copy (which will not constitute notice) to: 

Vorys, Sater, Seymour and Pease LLP 

301 East Fourth Street, Suite 3500 

Cincinnati, Ohio 45202 

Attention: Roger E. Lautzenhiser 

If to the Trustee: 
 U.S. Bank
National Association 
 10 West Broad Street, 12th Floor 

Columbus, Ohio 43215 
 Facsimile:
(614) 232-8109 
 Attention: Katherine Esber 

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

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

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

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

Upon any request or application by the Company to the Trustee to take any action under this Indenture (other than the initial authentication of
Notes under this Indenture), the Company will furnish to the Trustee: 
 (A) an Officer’s Certificate in form and substance reasonably
satisfactory to the Trustee that complies with Section 11.03 and states that, in the opinion of the signatory thereto, all conditions precedent and covenants, if any, provided for in this Indenture relating to such action
have been satisfied; and 
 (B) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee that complies with
Section 11.03 and states that, in the opinion of such counsel, all such conditions precedent and covenants, if any, have been satisfied. 

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

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

(B) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained therein
are based; 
 (C) a statement that, in the opinion of such signatory, he, she or it has made such examination or investigation as is
necessary to enable him, her or it to express an informed opinion as to whether or not such covenant or condition has been satisfied; and 

(D) a statement as to whether, in the opinion of such signatory, such covenant or condition has been satisfied. 

Section 11.04. RULES BY THE TRUSTEE, THE REGISTRAR
AND THE PAYING AGENT. 
 The Trustee may make reasonable rules for action by
or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set reasonable requirements for its functions. 

Section 11.05. NO PERSONAL LIABILITY OF DIRECTORS, OFFICERS,
EMPLOYEES AND STOCKHOLDERS. 
 No past, present or future director, officer, employee,
incorporator or stockholder of the Company, as such, will have any liability for any obligations of the Company under this Indenture or the Notes or for any claim based on, in respect of, or by reason of, such obligations or their creation. By
accepting any Note, each Holder waives and releases all such liability. Such waiver and release are part of the consideration for the issuance of the Notes. 

  
 - 73 - 

 Section 11.06. GOVERNING LAW; WAIVER OF
JURY TRIAL. 
 THIS INDENTURE AND THE NOTES, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED
TO THIS INDENTURE OR THE NOTES, WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. EACH OF THE COMPANY AND THE TRUSTEE IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO
TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED BY THIS INDENTURE OR THE NOTES. 

Section 11.07. SUBMISSION TO JURISDICTION. 

Any legal suit, action or proceeding arising out of or based upon this Indenture or the transactions contemplated by this Indenture may be
instituted in the federal courts of the United States of America located in the City of New York or the courts of the State of New York, in each case located in the City of New York (collectively, the “Specified Courts”), and each
party irrevocably submits to the non-exclusive jurisdiction of such courts in any such suit, action or proceeding. Service of any process, summons, notice or document by mail (to the extent allowed under any
applicable statute or rule of court) to such party’s address set forth in Section 11.01 will be effective service of process for any such suit, action or proceeding brought in any such court. Each of the Company, the
Trustee and each Holder (by its acceptance of any Note) irrevocably and unconditionally waives any objection to the laying of venue of any suit, action or other proceeding in the Specified Courts and irrevocably and unconditionally waives and agrees
not to plead or claim any such suit, action or other proceeding has been brought in an inconvenient forum. 
 Section 11.08. NO
ADVERSE INTERPRETATION OF OTHER AGREEMENTS. 
 Neither this
Indenture nor the Notes may be used to interpret any other indenture, note, loan or debt agreement of the Company or its Subsidiaries or of any other Person, and no such indenture, note, loan or debt agreement may be used to interpret this Indenture
or the Notes. 
 Section 11.09. SUCCESSORS. 

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

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

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

The Company acknowledges that, in accordance with Section 326 of the U.S.A. Patriot Act, the Trustee, like all financial institutions, in
order to help fight the funding of terrorism and money laundering, is required to obtain, verify and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Trustee. The Company
agrees to provide the Trustee with such information as it may request to enable the Trustee to comply with the U.S.A. Patriot Act. 
 Section 11.12.
CALCULATIONS. 
 Except as otherwise provided in this Indenture, the Company will be responsible for making all
calculations called for under this Indenture or the Notes, including determinations of the Last Reported Sale Price, the Daily Cash Amount, the Daily Share Amount, accrued interest on the Notes and the Conversion Rate. 

The Company will make all calculations in good faith, and, absent manifest error, its calculations will be final and binding on all Holders.
The Company will provide a schedule of its calculations to the Trustee and the Conversion Agent, and each of the Trustee and the Conversion Agent may rely conclusively on the accuracy of the Company’s calculations without independent
verification. The Trustee will promptly forward a copy of each such schedule to a Holder upon its written request therefor. 
 Section 11.13.
SEVERABILITY. 
 If any provision of this Indenture or the Notes is invalid, illegal or unenforceable, then the validity,
legality and enforceability of the remaining provisions of this Indenture or the Notes will not in any way be affected or impaired thereby. 

Section 11.14. COUNTERPARTS. 

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

Section 11.15. TABLE OF CONTENTS, HEADINGS, ETC. 

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

Section 11.16. WITHHOLDING TAXES. 

Each Holder of a Note agrees, and each beneficial owner of an interest in a Global Note, by its acquisition of such interest, is deemed to
agree, that if the Company or other applicable 

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

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

			
	AIR TRANSPORT SERVICES GROUP, INC.
		
	By:	 	/s/ Quint O. Turner
		 	Name: Quint O. Turner
		 	Title: Chief Financial Officer
	
	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	/s/ Katherine Esber
		 	Name: Katherine Esber
		 	Title: Vice President

 [Signature Page to Indenture] 

  

 EXHIBIT A 

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

[Insert Non-Affiliate Legend] 

AIR TRANSPORT SERVICES GROUP, INC. 

1.125% Convertible Senior Notes due 2024 
  

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

 Air Transport Services Group, Inc., a Delaware corporation, for value received, promises to pay to
[Cede & Co.], or its registered assigns, the principal sum of [    ] dollars ($[    ]) [(as revised by the attached Schedule of Exchanges of Interests in the Global Note)]† on October 15, 2024 and to pay interest thereon, as provided in the Indenture referred to below, until the principal and
all accrued and unpaid interest are paid or duly provided for. 
 Interest Payment Dates: April 15 and October 15 of each year, commencing on
[date]. 
 Regular Record Dates: April 1 and October 1. 

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

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

 

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

	† 	Insert bracketed language for Global Notes only. 

  
 A-1 

 IN WITNESS WHEREOF, Air Transport Services Group, Inc. has caused this instrument to be
duly executed as of the date set forth below. 
  

							
		 		 	AIR TRANSPORT SERVICES GROUP, INC.
				
	Date:                                     
                       	 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:

  
 A-2 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

 

							
				
	Date:                                     
               	 		 	By:	 	 
	 	 	 	 	Authorized Signatory

  
 A-3 

 AIR TRANSPORT SERVICES GROUP, INC. 

1.125% Convertible Senior Notes due 2024 

This Note is one of a duly authorized issue of notes of Air Transport Services Group, Inc., a Delaware corporation (the
“Company”), designated as its 1.125% Convertible Senior Notes due 2024 (the “Notes”), all issued or to be issued pursuant to an indenture, dated as of September 29, 2017 (as the same may be amended from time to
time, the “Indenture”), between the Company and U.S. Bank National Association, as trustee. Capitalized terms used in this Note without definition have the respective meanings ascribed to them in the Indenture. 

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

1. Interest. This Note will accrue interest at a rate and in the manner set forth in Section 2.05 of the Indenture. Stated
Interest on this Note will begin to accrue from, and including, [date]. 
 2. Maturity. This Note will mature on
October 15, 2024, unless earlier repurchased or converted. 
 3. Method of Payment. Cash amounts due on this Note will be paid
in the manner set forth in Section 2.04 of the Indenture. 
 4. Persons Deemed Owners. The Holder of this Note will be treated
as the owner of this Note for all purposes. 
 5. Denominations; Transfers and Exchanges. All Notes will be in registered form,
without coupons, in principal amounts equal to any Authorized Denominations. Subject to the terms of the Indenture, the Holder of this Note may transfer or exchange this Note by presenting it to the Registrar and delivering any required
documentation or other materials. 
 6. Right of Holders to Require the Company to Repurchase Notes upon a Fundamental Change. If a
Fundamental Change occurs, then each Holder will have the right to require the Company to repurchase such Holder’s Notes (or any portion thereof in an Authorized Denomination) for cash in the manner, and subject to the terms, set forth in
Section 4.02 of the Indenture. 
 7. Conversion. The Holder of this Note may convert this Note into Conversion Consideration in
the manner, and subject to the terms, set forth in Article 5 of the Indenture. 
 8. When the Company May Merge, Etc. Article 6 of
the Indenture places limited restrictions on the Company’s ability to be a party to a Business Combination Event. 

  
 A-4 

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

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

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

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

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

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

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

145 Hunter Drive 
 Wilmington, Ohio
45177 
 Attention: Chief Legal Officer 

  
 A-5 

 CONVERSION NOTICE 

AIR TRANSPORT SERVICES GROUP, INC. 

1.125% Convertible Senior Notes due 2024 

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

☐    $                * aggregate principal amount of 
 the Note identified by CUSIP No.
                 and Certificate No.                 . 

The undersigned acknowledges that if the Conversion Date of a Note to be converted is after a Regular Record Date and before the next Interest Payment Date,
then such Note, when surrendered for conversion, must, in certain circumstances, be accompanied with an amount of cash equal to the interest that would have accrued on such Note to, but excluding, such Interest Payment Date. 

 

							
	Date:                            	 		 		 	  

		 		 		 	(Legal Name of Holder)
				
		 		 	By:	 	  

		 		 		 	Name:
		 		 		 	Title:
			
		 		 	 Signature Guaranteed:

	 	 	 	 	 	 	 Participant in a Recognized Signature

Guarantee Medallion Program

				
		 		 	By:	 	  

		 		 		 	Authorized Signatory

  

	*	Must be an Authorized Denomination. 

  
 A-6 

 FUNDAMENTAL CHANGE REPURCHASE NOTICE 

AIR TRANSPORT SERVICES GROUP, INC. 

1.125% Convertible Senior Notes due 2024 

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

☐
$                * aggregate principal amount of 

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

							
	Date:                            	 		 		 	  

		 		 		 	(Legal Name of Holder)
				
		 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:
			
		 		 	Signature Guaranteed:
				
		 		 		 	  

	 	 	 	 	 	 	 Participant in a Recognized Signature

Guarantee Medallion Program

				
		 		 	By:	 	  

		 		 		 	Authorized Signatory

  

	* 	Must be an Authorized Denomination. 

  
 A-7 

 ASSIGNMENT FORM 

AIR TRANSPORT SERVICES GROUP, INC. 

1.125% Convertible Senior Notes due 2024 

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

 

	
	Name:
                                        

	
	Address:
                                         
                       
	
	 Social security or
 tax identification

number:
                                         
                                   

 the within Note and all rights thereunder irrevocably appoints: 

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

 

							
	Date:                         	 		 	  

		 		 		 	(Legal Name of Holder)
				
		 		 	By:	 	  

		 		 		 	Name:
		 		 		 	Title:
			
		 		 	 Signature Guaranteed:

			
		 		 	  

		 		 		 	Participant in a Recognized Signature
		 		 		 	Guarantee Medallion Program
		 		 	By:	 	  

		 		 		 	Authorized Signatory

  
 A-8 

 TRANSFEROR ACKNOWLEDGEMENT 

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

 

					
	 1.
	 	☐	  	Such Transfer is being made to the Company or a Subsidiary of the Company.
			
	 2.
	 	☐	  	Such Transfer is being made pursuant to, and in accordance with, a registration statement that is effective under the Securities Act at the time of the Transfer.
			
	 3.
	 	☐	  	Such Transfer is being made pursuant to, and in accordance with, Rule 144A under the Securities Act, and, accordingly, the undersigned further certifies that the within Note is being transferred to a Person that the undersigned
reasonably believes is purchasing the within Note for its own account, or for one or more accounts with respect to which such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional
buyer” within the meaning of Rule 144A under the Securities Act in a transaction meeting the requirements of Rule 144A. If this item is checked, then the transferee must complete and execute the acknowledgment contained on the next
page.
			
	 4.
	 	☐	  	Such Transfer is being made pursuant to, and in accordance with, any other available exemption from the registration requirements of the Securities Act (including, if available, the exemption provided by Rule 144 under the
Securities Act).

  

			
	Dated:	 	  

	
	  
 (Legal
Name of Holder)

		
	By:	 	 
		 	Name:
		 	Title:
	
	Signature Guaranteed:
	
	  

(Participant in a Recognized Signature

Guarantee Medallion Program)

		
	By:	 	 
		 	Authorized Signatory

  
 A-9 

 TRANSFEREE ACKNOWLEDGEMENT 

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

			
	Dated:	 	
	
	  
 (Name of
Transferee)

		
	By: 	 	 
		 	Name:
		 	Title:

  
 A-10 

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

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

 

							
	 Date
	  	 Amount of Increase

(Decrease) in
 Principal
Amount of
 this Global Note
	  	 Principal Amount of

this Global Note
 After Such
Increase
 (Decrease)
	  	 Signature of

Authorized

Signatory of Trustee

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

  
  

	*	Insert for Global Notes only. 

  
 A-11 

 EXHIBIT B-1 

FORM OF RESTRICTED NOTE LEGEND 
 THE OFFER
AND SALE OF THIS NOTE AND THE SHARES OF COMMON STOCK, IF ANY, ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THIS NOTE MAY NOT BE OFFERED, SOLD OR
OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER: 
 (1)
REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT;
AND 
 (2) AGREES FOR THE BENEFIT OF THE COMPANY THAT IT WILL NOT OFFER, SELL OR OTHERWISE TRANSFER THIS NOTE OR ANY BENEFICIAL INTEREST HEREIN, EXCEPT
ONLY: 
 (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF; 

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

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

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

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

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

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

  
 B1-1 

 EXHIBIT B-2 

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

  
 B2-1 

 EXHIBIT B-3 

FORM OF NON-AFFILIATE LEGEND 

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

  
 D-1EX-10.1

 Exhibit 10.1 

Air Transport Services Group, Inc. 

1.125% Convertible Senior Notes due 2024 
  

 
 Purchase Agreement

 September 25, 2017 

Goldman, Sachs & Co. LLC 
 SunTrust Robinson Humphrey,
Inc. 
 As representatives of the several Purchasers 

named in Schedule I hereto, 
 c/o Goldman,
Sachs & Co. LLC, 
 200 West Street, 
 New York, New
York 10282-2198. 
 c/o SunTrust Robinson Humphrey, Inc. 
 711
5th Avenue | 14th Floor 
 New York, New York 10022 
 Ladies
and Gentlemen: 
 Air Transport Services Group, Inc., a Delaware corporation (the “Company”), proposes, subject to the terms and conditions
set forth in this purchase agreement (this “Agreement”), to issue and sell to the purchasers named in Schedule I hereto (the “Purchasers”), for which Goldman, Sachs & Co. LLC and SunTrust Robinson Humphrey,
Inc. are acting as representatives (the “Representatives”) an aggregate of $225,000,000 principal amount of its 1.125% Convertible Senior Notes due 2024 (the “Firm Securities”), and, at the option of the Purchasers,
up to an additional $33,750,000 aggregate principal amount of its 1.125% Convertible Senior Notes due 2024 (the “Optional Securities”) if and to the extent that the Purchasers shall exercise the option to purchase such Optional
Securities granted to the Purchasers in Section 2 hereof. The Firm Securities and the Optional Securities are herein referred to collectively as the “Securities.” The Securities will be convertible into cash, shares
of common stock, par value $0.01 per share, of the Company (“Stock”), or a combination of cash and shares of Stock, at the option of the Company, on the terms, and subject to the conditions, set forth in the Indenture (as defined
below). The Securities are to be issued pursuant to that certain indenture, dated as of September 29, 2017 (the “Indenture”), to be entered into among the Company and U.S. Bank National Association, as trustee, paying
agent and conversion agent (the “Trustee”). 
 In connection with the offering of the Firm Securities, the Company is separately entering
into convertible note hedge and warrant transactions with certain financial institutions, including one or more of the Purchasers (the “Call Spread Counterparties”) pursuant to convertible note hedge confirmations (the “Base
Bond Hedge Confirmations”) and warrant confirmations (the “Base Warrant Confirmations” and, together with the Base Bond Hedge Confirmations, the “Base Call Spread Confirmations”), respectively, each
to be dated the date hereof, and in connection with any 

 
exercise by the Purchasers of their option to purchase any Optional Securities, the Company and the Call Spread Counterparties will enter into additional convertible note hedge and warrant
transactions pursuant to additional convertible note hedge confirmations (the “Additional Bond Hedge Confirmations”) and additional warrant confirmations (the “Additional Warrant Confirmations” and, the Additional
Warrant Confirmations together with the Additional Bond Hedge Confirmations, the “Additional Call Spread Confirmations”), respectively, each to be dated the date on which the Purchasers exercise their option to purchase such
Optional Securities. We refer to the Base Call Spread Confirmations and the Additional Call Spread Confirmations collectively herein as the “Call Spread Confirmations.” 

1.    The Company represents and warrants to, and agrees with, each of the Purchasers that: 

 

	 	(a)	A preliminary offering circular, dated September 25, 2017 (the “Preliminary Offering Circular”), and an offering circular, dated September 25, 2017 (the “Offering
Circular”), have been prepared in connection with the offering of the Securities and the shares of Stock, if any, issuable upon conversion thereof. The Preliminary Offering Circular, as amended and supplemented immediately prior to
the Applicable Time (as defined in Section 1(b)), is hereinafter referred to as the “Pricing Circular.” Any reference to the Preliminary Offering Circular, the Pricing Circular or the Offering Circular shall be deemed to
refer to and include all documents filed with the United States Securities and Exchange Commission (the “Commission”) pursuant to Section 13(a), 13(c) or 15(d) of the United States Securities Exchange Act of 1934, as amended
(the “Exchange Act”), on or prior to the date of such circular and incorporated by reference therein and any reference to the Preliminary Offering Circular or the Offering Circular, as the case may be, as amended or
supplemented, as of any specified date, shall be deemed to include (i) any documents filed with the Commission pursuant to Section 13(a), 13(c) or 15(d) of the Exchange Act after the date of the Preliminary Offering Circular or the
Offering Circular, as the case may be, and prior to such specified date and (ii) any Additional Issuer Information (as defined in Section 5(f)) furnished by the Company prior to the completion of the distribution of the Securities; and all
documents filed under the Exchange Act and so deemed to be included in the Preliminary Offering Circular, the Pricing Circular or the Offering Circular, as the case may be, or any amendment or supplement thereto are hereinafter called the
“Exchange Act Reports” (provided that where only sections of such documents are specifically incorporated by reference, only such sections shall be considered to be part of the “Exchange Act Reports”). The Exchange Act
Reports, when they were or are filed with the Commission, conformed or will conform in all material respects to the applicable requirements of the Exchange Act and the applicable rules and regulations of the Commission thereunder; and no such
documents were filed with the Commission since the Commission’s close of business on the business day immediately prior to the date of this Agreement and prior to the execution of this Agreement, except as set forth on Schedule II(a) hereof.
The Preliminary Offering Circular or the Offering Circular and any amendments or supplements thereto and the Exchange Act Reports did not and will not, as of their respective dates, contain an untrue statement of a material fact or omit to state a
material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that this representation and warranty shall not apply to any statements
or omissions made in reliance upon and in conformity with information furnished in writing to the Company by a Purchaser through the Representatives expressly for use therein. 

  
 2 

	 	(b)	For the purposes of this Agreement, the “Applicable Time” is 4:30 pm (Eastern time) on the date of this Agreement; the Pricing Circular as supplemented by the term sheet set forth in Schedule III
hereto, taken together (collectively, the “Pricing Disclosure Package”) as of the Applicable Time, did not include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading; and each Company Supplemental Disclosure Document (as defined in Section 6(a) listed on Schedule II(b) hereto) and each Permitted General Solicitation
Material (as defined in Section 6(a) listed on Schedule II(d) hereto) does not conflict with the information contained in the Pricing Circular or the Offering Circular and each such Company Supplemental Disclosure Document and Permitted
General Solicitation Material, as supplemented by and taken together with the Pricing Disclosure Package as of the Applicable Time, did not include any untrue statement of a material fact or omit to state any material fact necessary in order to make
the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that this representation and warranty shall not apply to statements or omissions made in a Company Supplemental Disclosure
Document or Permitted General Solicitation Material in reliance upon and in conformity with information furnished in writing to the Company by a Purchaser through the Representatives expressly for use therein. 

 

	 	(c)	When the Securities are issued and delivered pursuant to this Agreement, the Securities will not be of the same class (within the meaning of Rule 144A under the United States Securities Act of 1933, as amended (the
“Act”)) as securities which are listed on a national securities exchange registered under Section 6 of the Exchange Act”) or quoted in a U.S. automated inter-dealer quotation system. 

 

	 	(d)	Neither the Company nor any person acting on its or their behalf (other than the Purchasers, as to which no representation is made) has offered or sold the Securities by means of any general solicitation or general
advertising within the meaning of Rule 502(c) under the Act (other than by means of a Permitted General Solicitation, as defined below) or, with respect to Securities sold outside the United States to non-U.S.
persons (as defined in Rule 902 under the Act), by means of any directed selling efforts within the meaning of Rule 902 under the Act and the Company, any affiliate of the Company and any person acting on its or their behalf has complied with and
will implement the “offering restriction” within the meaning of such Rule 902. 

  

	 	(e)	Within the preceding six months, neither the Company nor any other person acting on behalf of the Company has offered or sold to any person any Securities, or any securities of the same or a similar class as the
Securities, other than Securities offered or sold to the Purchasers hereunder. The Company will take reasonable precautions designed to insure that any offer or sale, direct or indirect, in the United States or to any U.S. person (as defined in Rule
902 under the Act) of any Securities or any substantially similar security issued by the Company, within six months subsequent to the date on which the distribution of the Securities has been completed (as notified to the Company by the
Representatives), is made under restrictions and other circumstances reasonably designed not to affect the status of the offer and sale of the Securities in the United States and to U.S. persons contemplated by this Agreement as transactions exempt
from the registration provisions of the Act. 

  
 3 

	 	(f)	The statements set forth in the Pricing Disclosure Package and the Offering Circular under the captions “Description of Notes” and “Description of Capital Stock”, insofar as they purport to
constitute a summary of the terms of the Securities and the Stock, under the captions “Description of Certain Indebtedness” and “Description of Concurrent Convertible Note Hedge Transactions and Warrant Transactions,” insofar as
they purport to describe the provisions of the documents referred to therein, and under the captions “Certain U.S. Federal Income Tax Considerations” and “Plan of Distribution,” insofar as they purport to describe the provisions
of the laws, legal conclusions with respect thereto and documents referred to therein, are accurate and complete in all material respects. 

  

	 	(g)	None of the transactions contemplated by this Agreement (including, without limitation, the use of the proceeds from the sale of the Securities) will result in a violation by the Company of Section 7 of the
Exchange Act, or any regulation promulgated thereunder, including, without limitation, Regulations T, U, and X of the Board of Governors of the Federal Reserve System. 

 

	 	(h)	The accountants who certified the audited financial statements and supporting schedules included in the Pricing Circular, the Pricing Disclosure Package and the Offering Circular are independent public accountants as
required by the Act, the Act Regulations, the Exchange Act, the Exchange Act Regulations and the Public Company Accounting Oversight Board. 

  

	 	(i)	The financial statements included or incorporated by reference in the Pricing Circular, the Pricing Disclosure Package and the Offering Circular, together with the related schedules and notes, present fairly the
financial position of the Company and its consolidated subsidiaries at the dates indicated and the statement of operations, stockholders’ equity and cash flows of the Company and its consolidated subsidiaries for the periods specified; said
financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) applied on a consistent basis throughout the periods involved. The supporting schedules, if any, present fairly in
accordance with GAAP the information required to be stated therein. The selected financial data and the summary financial information included in the Pricing Circular, the Pricing Disclosure Package and the Offering Circular present fairly the
information shown therein and have been compiled on a basis consistent with that of the audited financial statements included therein. All disclosures contained in the Pricing Circular, the Pricing Disclosure Package and the Offering Circular, or
incorporated by reference therein, regarding “non-GAAP financial measures” (as such term is defined by the rules and regulations of the Commission) comply with Regulation G of the Exchange Act and
Item 10 of Regulation S-K of the Act, to the extent applicable. The interactive data in eXtensible Business Reporting Language incorporated by reference in the Pricing Circular, the Pricing Disclosure Package
and the Offering Circular fairly presents the information called for in all material respects and has been prepared in accordance with the Commission’s rules and guidelines applicable thereto. 

 

	 	(j)	 Except as otherwise stated therein, since the respective dates as of which information is given in the Pricing
Circular, the Pricing Disclosure Package or the Offering Circular, (A) there has been no material adverse change in the condition, financial or otherwise, or in the earnings, business affairs or business prospects of the Company and its
subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business (a “Material Adverse Effect”), (B) there have been no transactions entered into by the Company or any of its Subsidiaries,
other than those in the ordinary course of business, which are material with respect to the Company and its subsidiaries considered as one 

  
 4 

	 	
enterprise, and (C) there has been no dividend or distribution of any kind declared, paid or made by the Company on any class of its capital stock. 

 

	 	(k)	The Company has been duly organized and is validly existing as a corporation in good standing under the laws of the State of Delaware and has corporate power and authority to own, lease and operate its properties and to
conduct its business as described in the Pricing Circular, the Pricing Disclosure Package and the Offering Circular and to enter into and perform its obligations under each of this Agreement, the Indenture and the Securities; and the Company is duly
qualified as a foreign corporation to transact business and is in good standing in each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where
the failure so to qualify or to be in good standing would not result in a Material Adverse Effect. 

  

	 	(l)	Each “significant subsidiary” of the Company (as such term is defined in Rule 1-02 of Regulation S-X) (each, a
“Subsidiary” and, collectively, the “Subsidiaries”) has been duly organized and is validly existing in good standing under the laws of the jurisdiction of its incorporation or organization, has corporate or similar
power and authority to own, lease and operate its properties and to conduct its business as described in the Pricing Circular, the Pricing Disclosure Package and the Offering Circular and is duly qualified to transact business and is in good
standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify or to be in good standing would not result in a
Material Adverse Effect. Except as otherwise disclosed in the Pricing Circular, the Pricing Disclosure Package and the Offering Circular, all of the issued and outstanding capital stock of each Subsidiary has been duly authorized and validly issued,
is fully paid and non-assessable and is owned by the Company, directly or through Subsidiaries, free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equity. None of the
outstanding shares of capital stock of any Subsidiary were issued in violation of the preemptive or similar rights of any securityholder of such Subsidiary. The only subsidiaries of the Company are (A) the subsidiaries listed on Exhibit 21.1 to
the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and (B) certain other subsidiaries which, considered in the aggregate as a single subsidiary, do not
constitute a “significant subsidiary” as defined in Rule 1-02 of Regulation S-X. 

 

	 	(m)	The authorized, issued and outstanding shares of capital stock of the Company are as set forth in the Pricing Circular, the Pricing Disclosure Package and the Offering Circular in the column entitled “Actual”
under the caption “Capitalization” (except for subsequent issuances, if any, pursuant to this Agreement, pursuant to reservations, agreements or employee benefit plans referred to in the Pricing Circular, the Pricing Disclosure Package and
the Offering Circular or pursuant to the exercise of convertible securities or options referred to in the Pricing Circular, the Pricing Disclosure Package and the Offering Circular). 

 

	 	(n)	This Agreement has been duly authorized, executed and delivered by the Company. 

  

	 	(o)	 The Indenture has been duly authorized by the Company and, at the Closing Time, will have been duly executed and
delivered by the Company and, when duly executed and delivered by the Company and the Trustee, will constitute a valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except as the enforcement
thereof may be limited by bankruptcy, insolvency (including, without limitation, all laws relating to fraudulent transfers), reorganization, moratorium or similar laws affecting enforcement of creditors’ rights generally and except as
enforcement thereof is subject to 

  
 5 

	 	
general principles of equity (regardless of whether enforcement is considered in a proceeding in equity or at law); and the Securities and the Indenture will conform in all material respects to
the descriptions thereof in the Pricing Disclosure Package and the Offering Circular. 

  

	 	(p)	The Securities have been duly authorized and, at the Closing Time, will have been duly executed and delivered by the Company and, when authenticated, issued and delivered in the manner provided for in the Indenture and
delivered against payment of the purchase price therefor as provided in this Agreement, will constitute valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, except as the enforcement thereof
may be limited by bankruptcy, insolvency (including, without limitation, all laws relating to fraudulent transfers), reorganization, moratorium or similar laws affecting enforcement of creditors’ rights generally and except as enforcement
thereof is subject to general principles of equity (regardless of whether enforcement is considered in a proceeding in equity or at law), and will be in the form contemplated by, and entitled to the benefits of, the Indenture. The Base Call Spread
Confirmations have been, and any Additional Call Spread Confirmations on the date or dates that the Purchasers exercise their right to purchase the relevant Optional Securities will have been, duly authorized, executed and delivered by the Company
and, assuming due execution and delivery thereof by the Counterparties, constitute, or will constitute, as the case may be, valid and legally binding agreements of the Company enforceable against the Company in accordance with their terms, subject,
as to enforcement, to bankruptcy, insolvency, reorganization and other laws of general applicability relating to or affecting creditors’ rights and to general equity principles. A total of 9,500,000 shares of Stock issuable under the Base
Warrant Confirmations and any Additional Warrant Confirmations (the “Warrant Shares”), have been duly authorized and reserved for issuance by all necessary corporate action and all shares of Stock issuable upon conversion of the
Securities will be duly authorized and reserved for issuance after shareholder approval. All shares of Stock issuable upon conversion of the Securities, after shareholder approval and when issued in accordance with the terms of the Securities and
the Indenture, and all Warrant Shares, when issued in accordance with the Base Warrant Confirmations or the Additional Warrant Confirmations, as applicable, will be validly issued, fully paid and
non-assessable; no holder of such shares will be subject to personal liability by reason of being such a holder; and the issuance of such shares upon such conversion will not be subject to the preemptive or
other similar rights of any securityholder of the Company. 

  

	 	(q)	 Neither the Company nor any of its Subsidiaries is (A) in violation of its charter, by-laws or similar organizational document, (B) in default in the performance or observance of any obligation, agreement, covenant or condition contained in any contract, indenture, mortgage, deed of trust,
loan or credit agreement, note, lease or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which it or any of them may be bound or to which any of the properties or assets of the Company or any Subsidiary
is subject (collectively, “Agreements and Instruments”), except, with respect to this clause B, for such defaults that would not, singly or in the aggregate, result in a Material Adverse Effect, or (C) in violation of any law,
statute, rule, regulation, judgment, order, writ or decree of any arbitrator, court, governmental body, regulatory body, administrative agency or other authority, body or agency having jurisdiction over the Company or any of its Subsidiaries or any
of their respective properties, assets or operations (each, a “Governmental Entity”), except, with respect to this clause C, for such violations that would not, singly or in the

  
 6 

	 	
aggregate, result in a Material Adverse Effect. The execution, delivery and performance of this Agreement, the Call Spread Confirmations, the Indenture, the Securities, and the consummation of
the transactions contemplated herein, therein and in the Pricing Circular, the Pricing Disclosure Package and the Offering Circular (including the issuance and sale of the Securities and the use of the proceeds from the sale of the Securities as
described therein under the caption “Use of Proceeds” and any conversion of Securities or issuance of Stock upon conversion) and compliance by the Company with its obligations hereunder, and with the provisions of the Indenture and Call
Spread Confirmations (including the issuance of any Warrant Shares in accordance with the terms thereof) have been duly authorized by all necessary corporate action and do not and will not, whether with or without the giving of notice or passage of
time or both, conflict with or constitute a breach of, or default or Repayment Event (as defined below) under, or result in the creation or imposition of any lien, charge or encumbrance upon any properties or assets of the Company or any Subsidiary
pursuant to, the Agreements and Instruments (except for such conflicts, breaches, defaults or Repayment Events or liens, charges or encumbrances that would not, singly or in the aggregate, result in a Material Adverse Effect), nor will such action
result in any violation of the provisions of the charter, by-laws or similar organizational document of the Company or any of its Subsidiaries or any law, statute, rule, regulation, judgment, order, writ or
decree of any Governmental Entity. As used herein, a “Repayment Event” means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the
right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its Subsidiaries. 

  

	 	(r)	No labor dispute with the employees of the Company or any of its Subsidiaries exists or, to the knowledge of the Company, is imminent, and the Company is not aware of any existing or imminent labor disturbance by the
employees of any of its or any Subsidiary’s principal suppliers, manufacturers, customers or contractors, which, in either case, would reasonably be expected to result in a Material Adverse Effect. 

 

	 	(s)	Except as disclosed in the Pricing Circular, the Pricing Disclosure Package and the Offering Circular, there is no action, suit, proceeding, inquiry or investigation before or brought by any Governmental Entity now
pending or, to the knowledge of the Company, threatened, against or affecting the Company or any of its Subsidiaries, which would reasonably be expected to result in a Material Adverse Effect, or which would reasonably be expected to materially and
adversely affect their respective properties or assets or the consummation of the transactions contemplated in this Agreement, the Call Spread Transactions or the performance by the Company of its obligations hereunder; and the aggregate of all
pending legal or governmental proceedings to which the Company or any such Subsidiary is a party or of which any of their respective properties or assets is the subject which are not described in the Pricing Circular, the Pricing Disclosure Package
and the Offering Circular, including ordinary routine litigation incidental to the business, would not reasonably be expected to result in a Material Adverse Effect.  

 

	 	(t)	 No filing with, or authorization, approval, consent, license, order, registration, qualification or decree of,
any Governmental Entity is necessary or required for the performance by the Company of its obligations hereunder, in connection with the offering, issuance or sale of the Securities hereunder or the consummation of the transactions contemplated by
this Agreement or under the Call Spread Confirmations or for the due execution, delivery and 

  
 7 

	 	
performance of the Indenture (including any conversion of Securities or issuance of Stock upon conversion), except such as have been already obtained or as may be required under the Act, the Act
Regulations, the rules of the Nasdaq Global Select Market, state securities laws or the rules of Financial Industry Regulatory Authority, Inc. (“FINRA”), excluding any filing, authorization, approval, consent, license, order, registration,
qualification or decree the failure of which to obtain or make would not reasonably be expected to have a Material Adverse Effect. 

  

	 	(u)	The Company and its Subsidiaries possess such permits, licenses, approvals, consents and other authorizations (collectively, “Governmental Licenses”) issued by the appropriate Governmental Entities necessary
to conduct the business now operated by them, except where the failure so to possess would not, singly or in the aggregate, result in a Material Adverse Effect. The Company and its Subsidiaries are in compliance with the terms and conditions of all
Governmental Licenses, except where the failure so to comply would not, singly or in the aggregate, result in a Material Adverse Effect. All of the Governmental Licenses are valid and in full force and effect, except when the invalidity of such
Governmental Licenses or the failure of such Governmental Licenses to be in full force and effect would not, singly or in the aggregate, result in a Material Adverse Effect. Neither the Company nor any of its Subsidiaries has received any notice of
proceedings relating to the revocation or modification of any Governmental Licenses which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would result in a Material Adverse Effect. 

 

	 	(v)	Except such real property owned by the Company or its subsidiaries that is subject to mortgages or pledges granted to the lenders under the Company’s senior credit facility as security for amounts borrowed
thereunder, the Company and its subsidiaries have good and marketable title to all real property owned by them and good title to all other properties owned by them, in each case, free and clear of all mortgages, pledges, liens, security interests,
claims, restrictions or encumbrances of any kind except such as (A) are described in the Pricing Circular, the Pricing Disclosure Package and the Offering Circular or (B) would not, singly or in the aggregate, reasonably be expected to
have a Material Adverse Effect; and all of the leases and subleases material to the business of the Company and its Subsidiaries, considered as one enterprise, and under which the Company or any of its Subsidiaries holds properties described in the
Pricing Circular, the Pricing Disclosure Package and the Offering Circular, are in full force and effect, with such exceptions as, singly or in the aggregate, would not reasonably be expected to have a Material Adverse Effect, and neither the
Company nor any such subsidiary has received any notice of any material claim of any sort that has been asserted by anyone adverse to the rights of the Company or any subsidiary under any of the leases or subleases mentioned above, or affecting or
questioning the rights of the Company or such subsidiary to the continued possession of the leased or subleased premises under any such lease or sublease. 

  

	 	(w)	 Except as would not, singly or in the aggregate, result in a Material Adverse Effect, the Company and its
Subsidiaries own or possess, or can acquire on reasonable terms, adequate patents, patent rights, licenses, inventions, copyrights, know-how (including trade secrets and other unpatented and/or unpatentable
proprietary or confidential information, systems or procedures), trademarks, service marks, trade names or other intellectual property (collectively, “Intellectual Property”) necessary to carry on the business now operated by them, and
neither the Company nor any of its Subsidiaries has received any 

  
 8 

	 	
notice or is otherwise aware of any infringement of or conflict with asserted rights of others with respect to any Intellectual Property or invalidity or inadequacy that, singly or in the
aggregate, would reasonably be expected to result in a Material Adverse Effect. 

  

	 	(x)	Except as described in the Pricing Circular, the Pricing Disclosure Package and the Offering Circular and except as would not, singly or in the aggregate, result in a Material Adverse Effect, (A) neither the
Company nor any of its Subsidiaries is in violation of any federal, state, local or foreign statute, law, rule, regulation, ordinance, code, policy or rule of common law or any judicial or administrative interpretation thereof, including any
judicial or administrative order, consent, decree or judgment, relating to pollution or protection of human health, the environment (including, without limitation, ambient air, surface water, groundwater, land surface or subsurface strata) or
wildlife, including, without limitation, laws and regulations relating to the release or threatened release of chemicals, pollutants, contaminants, wastes, toxic substances, hazardous substances, petroleum or petroleum products, asbestos-containing
materials or mold (collectively, “Hazardous Materials”) or to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials (collectively, “Environmental Laws”), (B)
the Company and its Subsidiaries have all permits, authorizations and approvals required under any applicable Environmental Laws and are each in compliance with their requirements, (C) there are no pending or threatened administrative,
regulatory or judicial actions, suits, demands, demand letters, claims, liens, notices of noncompliance or violation, investigations or proceedings relating to any Environmental Law against the Company or any of its Subsidiaries and (D) there
are no events or circumstances that would reasonably be expected to form the basis of an order for clean-up or remediation, or an action, suit or proceeding by any private party or Governmental Entity, against
or affecting the Company or any of its Subsidiaries relating to Hazardous Materials or any Environmental Laws. 

  

	 	(y)	 The Company and each of its subsidiaries maintain effective internal control over financial reporting (as defined
under Rule 13-a15 and 15d-15 under the Exchange Act Regulations) and a system of internal accounting controls sufficient to provide reasonable assurances that
(A) transactions are executed in accordance with management’s general or specific authorization; (B) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain
accountability for assets; (C) access to assets is permitted only in accordance with management’s general or specific authorization; (D) the recorded accountability for assets is compared with the existing assets at reasonable
intervals and appropriate action is taken with respect to any differences; and (E) the interactive data in eXtensible Business Reporting Language incorporated by reference in the Pricing Circular, the Pricing Disclosure Package and the Offering
Circular fairly presents the information called for in all material respects and is prepared in accordance with the Commission’s rules and guidelines applicable thereto. Except as described in the Pricing Circular, the Pricing Disclosure
Package and the Offering Circular, since the end of the Company’s most recent audited fiscal year, there has been (1) no material weakness in the Company’s internal control over financial reporting (whether or not remediated) and
(2) no change in the Company’s internal control over financial reporting that has materially and adversely affected, or is reasonably likely to materially and adversely affect, the Company’s internal control over financial reporting.
The Company and each of its subsidiaries maintain an effective system of disclosure controls and procedures (as defined in Rule 13a-15 and Rule 15d-15 under the Exchange
Act Regulations) that are designed to ensure that information required to be disclosed by the Company in the reports that it files or submits 

  
 9 

	 	
under the Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms, and is accumulated and communicated to the
Company’s management, including its principal executive officer or officers and principal financial officer or officers, as appropriate, to allow timely decisions regarding disclosure. 

 

	 	(z)	There is and has been no failure on the part of the Company or any of the Company’s directors or officers, in their capacities as such, to comply in all material respects with any provision of the Sarbanes-Oxley
Act of 2002 and the rules and regulations promulgated in connection therewith, including Section 402 related to loans and Sections 302 and 906 related to certifications. 

 

	 	(aa)	All United States federal income tax returns of the Company and its Subsidiaries required by law to be filed have been filed or extensions to file such returns have been timely requested and all taxes whether or not
shown by such returns or otherwise assessed, which are due and payable, have been paid, except assessments against which appeals have been or will be promptly taken and as to which adequate reserves have been provided. The Company and its
Subsidiaries have filed all other tax returns that are required to have been filed by them pursuant to applicable foreign, state, local or other law except insofar as the failure to file such returns would not result in a Material Adverse Effect,
and has paid all taxes due whether or not pursuant to such returns or pursuant to any assessment received by the Company and its Subsidiaries, except for such taxes, if any, as are being contested in good faith and as to which adequate reserves have
been established by the Company or where the failure to pay such taxes would not have a Material Adverse Effect. The charges, accruals and reserves on the books of the Company in respect of any income and corporation tax liability for any years not
finally determined are adequate to meet any assessments or re-assessments for additional income tax for any years not finally determined, except to the extent of any inadequacy that would not result in a
Material Adverse Effect. 

  

	 	(bb)	The Company and its Subsidiaries carry or are entitled to the benefits of insurance, with financially sound and reputable insurers, in such amounts and covering such risks as is generally maintained by companies of
established repute engaged in the same or similar business, and all such insurance is in full force and effect. The Company has no reason to believe that it or any of its Subsidiaries will not be able (A) to renew its existing insurance
coverage as and when such policies expire or (B) to obtain comparable coverage from similar institutions as may be necessary or appropriate to conduct its business as now conducted and at a cost that would not result in a Material Adverse
Effect. Neither of the Company nor any of its Subsidiaries has been denied any insurance coverage which it has sought or for which it has applied. 

  

	 	(cc)	The Company is not required, and upon the transactions contemplated by the Call Spread Confirmations, the issuance and sale of the Securities as herein contemplated and the application of the net proceeds therefrom as
described in the Pricing Circular, the Pricing Disclosure Package and the Offering Circular will not be required, to register as an “investment company” under the Investment Company Act of 1940, as amended (the “1940
Act”). 

  

	 	(dd)	 Neither the Company nor, to the knowledge of the Company, any affiliate of the Company has taken, nor will the
Company or any affiliate take, directly or indirectly, any action which is designed, or would reasonably be expected, to cause or result in, or which constitutes, the 

  
 10 

	 	
stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities or to result in a violation of Regulation M under the Exchange Act.

  

	 	(ee)	None of the Company, any of its subsidiaries or, to the knowledge of the Company, any director, officer, agent, employee, affiliate or other person acting on behalf of the Company or any of its subsidiaries is aware of
or has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the “FCPA”), including, without
limitation, making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or
authorization of the giving of anything of value to any “foreign official” (as such term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA
and the Company and, to the knowledge of the Company, its affiliates have conducted their businesses in compliance with the FCPA and have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to
continue to ensure, continued compliance therewith. 

  

	 	(ff)	The operations of the Company and its subsidiaries are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions
Reporting Act of 1970, as amended, the money laundering statutes of all applicable jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any Governmental
Entity (collectively, the “Money Laundering Laws”); and no action, suit or proceeding by or before any Governmental Entity involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the
best knowledge of the Company, threatened. The Company and its subsidiaries, and their directors, officers, employees, agents, affiliates, representatives or any other persons acting for or on behalf of the Issuer shall not directly or indirectly
use the transaction proceeds for any purpose that would breach Anti-Money Laundering Laws. 

  

	 	(gg)	(i) None of the Company, any of its subsidiaries or, to the knowledge of the Company, any director, officer, agent, employee, controlled affiliate or representative of the Company or any of its subsidiaries is an
individual or entity (“Person”) currently the subject or target of any sanctions administered or enforced by the United States Government, including, without limitation, the U.S. Department of the Treasury’s Office of Foreign Assets
Control (“OFAC”), the United Nations Security Council (“UNSC”), the European Union, Her Majesty’s Treasury (“HMT”), or other relevant sanctions authority (collectively, “Sanctions”), nor is the Company
located, organized or resident in a country or territory that is the subject of Sanctions and (ii) neither the Company nor any of its subsidiaries will directly or indirectly use the proceeds of the offering of the Notes hereunder or lend,
contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing, directly or indirectly, the activities of any person in contravention of any US Economic Sanctions
Law or any equivalent European Union measure, including sanctions imposed against certain states, organizations and individuals under the European Union’s Common Foreign & Security Policy, any economic sanctions administered by Her
Majesty’s Treasury, or any sanctions administered by the United Nations Security Council. 

  
 11 

	 	(hh)	Except as disclosed in the Pricing Circular, the Pricing Disclosure Package and the Offering Circular, the Company does not have any material lending or other relationship with any bank or lending affiliate of any
Purchaser. 

  

	 	(ii)	Any statistical and market-related data included in the Pricing Circular, the Pricing Disclosure Package and the Offering Circular are based on or derived from sources that the Company believes, after reasonable
inquiry, to be reliable and accurate in all material respects and, to the extent required, the Company has obtained the written consent to the use of such data from such sources. 

 

	 	(jj)	On and immediately after each Time of Delivery, the Company, and its subsidiaries, on a consolidated basis (in each case, after giving effect to the issuance of the Securities, the application of the proceeds therefrom
and the other transactions related thereto as described in each of the Pricing Disclosure Package and the Offering Circular), will be Solvent. As used in this Agreement, the term “Solvent” means, with respect to any party on a particular
date, that on such date (i) the present fair market value (or present fair saleable value) of the assets of such party is not less than the total amount required to pay the liabilities of such party on its total existing debts and liabilities
(including identified contingent liabilities) to the extent such liabilities are required to be reserved under IFRS; (ii) such party is able to realize upon its assets and pay its debts and other liabilities, contingent obligations and
commitments as they mature and become due in the normal course of business; (iii) such party is not incurring debts or liabilities beyond its ability to pay as such debts and liabilities mature; and (iv) such party is not engaged in any
business or transaction, or proposes to engage in any business or transaction, for which its property would constitute unreasonably small capital. 

  

	 	(kk)	Assuming the accuracy of the representations and warranties of the Purchasers contained in Section 3 below and their compliance with their agreements set forth therein, it is not necessary, in connection with the
issuance and sale of the Securities to the Purchasers and the offer, resale and delivery of the Securities by the Purchasers in the manner contemplated by this Agreement, the Pricing Disclosure Package and the Offering Circular, to register the
Securities under the Act or to qualify the Indenture under the United States Trust Indenture Act of 1939, as amended (including the rules and regulations of the Commission promulgated thereunder). 

 

	2.	Subject to the terms and conditions herein set forth, (a) the Company agrees to issue and sell to each of the Purchasers, and each of the Purchasers agrees, severally and not jointly, to purchase from the Company,
at a purchase price of 97.250% of the aggregate principal amount thereof, the Firm Securities, and (b) in the event and to the extent that the Representatives shall exercise the election to purchase Optional Securities as provided below, the
Company agrees to issue and sell to each of the Purchasers, and each of the Purchasers agrees, severally and not jointly, to purchase from the Company, at the same purchase price set forth in clause (a) of this Section 2, that portion of
the aggregate principal amount of the Optional Securities as to which such election shall have been exercised (to be adjusted by you so as to eliminate Securities in denominations other than in multiples of $1,000), in each case as set forth
opposite the name of such Purchaser in Schedule I hereto and any additional principal amount of Securities which such Purchaser may become obligated to purchase pursuant to the provisions of Section 10(b) hereof. 

The Company hereby grants to the Purchasers the right to purchase at their election up to $33,750,000 in aggregate principal amount of the
Optional Securities, at the purchase price set forth in clause (a) of the first paragraph of this Section 2. Any such election to purchase Optional 

  
 12 

	 	
Securities may be exercised from time to time only by written notice from the Representatives to the Company, given within a period of 30 calendar days after the date of this Agreement, setting
forth the aggregate principal amount of Optional Securities and the date on which such Optional Securities are to be delivered, as determined by the Representatives but in no event earlier than the First Time of Delivery (as defined in
Section 4 hereof) or, unless the Representatives and the Company otherwise agree in writing, earlier than two or later than ten business days after the date of such notice. 

 

	3.	Upon the authorization by you of the release of the Securities, the several Purchasers propose to offer the Securities for sale upon the terms and conditions set forth in this Agreement, the Pricing Disclosure Package,
and the Offering Circular and each Purchaser, acting severally and not jointly, hereby represents and warrants to, and agrees with the Company that: 

  

	 	(a)	It will sell the Securities only to persons who it reasonably believes are “qualified institutional buyers” (“QIBs”) within the meaning of Rule 144A under the Act in transactions
meeting the requirements of Rule 144A; and 

  

	 	(b)	It is an Institutional Accredited Investor (within the meaning of Rule 501 under the Act). 

  

	 4. 
	(a)	 The Securities to be purchased by each Purchaser hereunder will be represented by one or more definitive global Securities in book-entry form
which will be deposited by or on behalf of the Company with The Depository Trust Company (“DTC”) or its designated custodian. The Company will deliver the Securities to the Representatives, for the account of each Purchaser, against
payment by or on behalf of such Purchaser of the purchase price therefor by wire transfer in Federal (same day) funds, by causing DTC to credit the Securities to the account of the Representatives at DTC. The Company will cause the certificates
representing the Securities to be made available to the Representatives for checking at least twenty-four hours prior to the applicable Time of Delivery (as defined below) at the office of Latham & Watkins LLP, 885 Third Avenue, New York,
New York 10022-4834 (the “Closing Location”). 

 The time and date of such delivery and payment shall be,
with respect to the Firm Securities, 9:30 a.m., New York City time, on September 29, 2017 or such other time and date as the Representatives and the Company may agree upon in writing, and, with respect to the Optional Securities, 9:30 a.m., New
York City time, on the date specified by the Representatives in the written notice given by the Representatives of the Purchasers’ election to purchase such Optional Securities, or such other time and date as the Representatives and the Company
may agree upon in writing. Such time and date for delivery of the Firm Securities is herein called the “First Time of Delivery”, such time and date for delivery of the Optional Securities, if not the First Time of Delivery, is
herein called the “Second Time of Delivery”, and each such time and date for delivery is herein called a “Time of Delivery”. 
  

	 	(b)	 The documents to be delivered at each Time of Delivery by or on behalf of the parties hereto pursuant to
Section 8 hereof, including the cross-receipt for the Securities and any additional documents requested by the Purchasers pursuant to Section 8(k) hereof, will be delivered at such time and date at the Closing Location, and the Securities
will be delivered at the office of DTC (or its designated custodian), all at such Time of Delivery. A meeting will be held at the Closing Location at 5:00 p.m., New York City time, on the New York Business Day next preceding such Time of Delivery,
at which meeting the final drafts of the documents to be delivered pursuant to the preceding sentence will be available for review by the parties 

  
 13 

	 	
hereto. For the purposes of this Section 4, “New York Business Day” shall mean each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions
in New York City are generally authorized or obligated by law or executive order to close. 

  

	5.	The Company agrees with each of the Purchasers: 

  

	 	(a)	To prepare the Preliminary Offering Circular, the Pricing Disclosure Package and the Offering Circular in a form approved by you; to make no amendment or any supplement to the Offering Circular which shall be
disapproved by you promptly after reasonable notice thereof; and to furnish you with copies thereof; 

  

	 	(b)	Promptly from time to time to take such action as you may reasonably request to qualify the Securities and the shares of Stock, if any, issuable upon conversion of the Securities for offering and sale under the
securities laws of such jurisdictions as you may request and to comply with such laws so as to permit the continuance of sales and dealings therein in such jurisdictions for as long as may be necessary to complete the distribution of the Securities,
provided that in connection therewith the Company shall not be required to qualify as a foreign corporation or to file a general consent to service of process in any jurisdiction or to subject itself to taxation for doing business in any
jurisdiction; 

  

	 	(c)	To furnish the Purchasers with written and electronic copies of the Offering Circular and any amendment or supplement thereto in such quantities as you may from time to time reasonably request, and if, at any
time prior to the expiration of nine months after the date of the Offering Circular, any event shall have occurred as a result of which the Offering Circular as then amended or supplemented would include an untrue statement of a material fact or
omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made when such Offering Circular is delivered, not misleading, or, if for any other reason it shall be
necessary or desirable during such same period to amend or supplement the Offering Circular, to notify you and upon your request to prepare and furnish without charge to each Purchaser and to any dealer in securities as many written and
electronic copies as you may from time to time reasonably request of an amended Offering Circular or a supplement to the Offering Circular which will correct such statement or omission or effect such compliance; 

 

	 	(d)	 During the period beginning from the date hereof and continuing until the date that is 60 days after the First
Time of Delivery, not to (i) offer, issue, sell, contract to sell, pledge, grant any option to purchase, make any short sale or otherwise transfer or dispose of, directly or indirectly, or file with the Commission a registration statement under
the Act relating to any securities of the Company that are substantially similar to the Securities or the Stock, including but not limited to any options or warrants to purchase shares of Stock or any securities that are convertible into or
exchangeable for, or that represent the right to receive, Stock or any such substantially similar securities, or publicly disclose the intention to make any offer, sale, pledge, disposition or filing or (ii) enter into any swap or other
agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Stock or any such other securities, whether any such transaction is to be settled by delivery of Stock or such other securities, in cash or otherwise
(other than pursuant to employee stock plans or contractual registration rights existing on, or upon the conversion, exchange or exercise of convertible, exchangeable or exercisable securities outstanding as of, the date of this Agreement), without
your prior written consent; provided, however, that nothing in this clause (d) will prohibit the conversion of any Security in accordance with its terms and the 

  
 14 

	 	
terms of the Indenture or the issuance of any Warrant Shares or the issuance of shares of Stock or rights to acquire shares of Stock pursuant to the Company’s long-term incentive plan or the
issuance of shares of Stock as a result of the exercise of warrants issued under the Investment Agreement, dated as of March 8, 2016, between Amazon.com, Inc. (“Amazon”) and the Company or the issuance of warrants in accordance with
the terms of such Investment Agreement (the “Amazon Investment Agreement”); or 

  

	 	(e)	Not to be or become, at any time prior to the expiration of two years after the each Time of Delivery, an open-end investment company, unit investment trust, closed-end investment company or face-amount certificate company that is or is required to be registered under Section 8 of the 1940 Act; 

 

	 	(f)	At any time when the Company is not subject to Section 13 or 15(d) of the Exchange Act, for the benefit of holders from time to time of Securities, to furnish at its expense, upon request, to holders of Securities
and prospective purchasers of securities information (the “Additional Issuer Information”) satisfying the requirements of subsection (d)(4)(i) of Rule 144A under the Act; 

 

	 	(g)	Except for such documents that are publicly available on the Commission’s EDGAR system, to furnish to the holders of the Securities as soon as practicable after the end of each fiscal year an annual report
(including a balance sheet and statements of income, stockholders’ equity and cash flows of the Company and its consolidated subsidiaries certified by independent public accountants) and, as soon as practicable after the end of each of the
first three quarters of each fiscal year (beginning with the fiscal quarter ending after the date of the Offering Circular), to make available to its stockholders consolidated summary financial information of the Company and its subsidiaries for
such quarter in reasonable detail; 

  

	 	(h)	During the period of one year after each Time of Delivery, the Company will not, and will not permit any of its “affiliates” (as defined in Rule 144 under the Act) to, resell any of the Securities or the Stock
issued upon conversion thereof which constitute “restricted securities” under Rule 144 that have been reacquired by any of them (other than pursuant to a registration statement that has been declared effective under the Act);

  

	 	(i)	To use the net proceeds received by the Company from the sale of the Securities pursuant to this Agreement in the manner specified in the Pricing Circular under the caption “Use of Proceeds;”

  

	 	(j)	To reserve and keep available at all times, free of preemptive rights, shares of Stock for the purpose of enabling the Company to satisfy any obligations to issue shares of its Stock upon conversion of the
Securities; and 

  

	 	(k)	To use its best efforts to list for quotation, subject to notice of issuance, the shares of Stock issuable upon conversion of the Securities and the Warrant Shares on the Nasdaq Stock Market Inc.’s National
Market (the “NASDAQ”). 

  

	 6. 
	(a)	 The Company represents and agrees that, without the prior consent of the Representatives, it and its affiliates and any other person acting
on its or their behalf (other than the Purchasers, as to which no statement is given) (x) have not made and will not make any offer relating to the Securities that, if the offering of the Securities contemplated by this Agreement were conducted
as a public offering pursuant to a registration statement filed under the Act with the Commission, would constitute an “issuer free writing prospectus,” as 

  
 15 

	 	
defined in Rule 433 under the Act (any such offer is hereinafter referred to as a “Company Supplemental Disclosure Document”) and (y) have not solicited and will not solicit
offers for, and have not offered or sold and will not offer or sell, the Securities by means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D other than any such solicitation listed on
Schedule II(d) (each such solicitation, a “Permitted General Solicitation”; each written general solicitation document listed on Schedule II(d), a “Permitted General Solicitation Material”); 

 

	 	(b)	Each Purchaser, severally and not jointly, represents and agrees that, without the prior consent of the Company and the Representatives, other than one or more term sheets relating to the Securities containing customary
information and conveyed to purchasers of securities or any Permitted General Solicitation Material, it has not made and will not make any offer relating to the Securities that, if the offering of the Securities contemplated by this Agreement were
conducted as a public offering pursuant to a registration statement filed under the Act with the Commission, would constitute a “free writing prospectus,” as defined in Rule 405 under the Act (any such offer (other than any such term
sheets and any Permitted General Solicitation Material), is hereinafter referred to as a “Purchaser Supplemental Disclosure Document”); and 

  

	 	(c)	Any Company Supplemental Disclosure Document, Purchaser Supplemental Disclosure Document or Permitted General Solicitation Material, the use of which has been consented to by the Company and the Representatives, is
listed as applicable on Schedule II(b), Schedule II(c) or Schedule II(d) hereto, respectively. 

  

	7.	 The Company covenants and agrees with the several Purchasers that the Company will pay or cause to be paid the
following: (i) the fees, disbursements and expenses of the Company’s counsel and accountants in connection with the issue of the Securities and the shares of Stock issuable upon conversion of the Securities and all other expenses in
connection with the preparation, printing, reproduction and filing of the Preliminary Offering Circular and the Offering Circular and any amendments and supplements thereto and the mailing and delivering of copies thereof to the Purchasers and
dealers; (ii) the cost of printing or producing any agreement among Purchasers, this Agreement, the Indenture, the Call Spread Confirmations, the Securities, the Blue Sky Memorandum, closing documents (including any compilations thereof),
Permitted General Solicitation Materials and any other documents in connection with the offering, purchase, sale and delivery of the Securities; (iii) all expenses in connection with the qualification of the Securities and the shares of Stock
issuable upon conversion of the Securities for offering and sale under state securities laws as provided in Section 5(b) hereof, including the fees and disbursements of counsel for the Purchasers in connection with such qualification and in
connection with the Blue Sky and legal investment surveys; (iv) any fees charged by securities rating services for rating the Securities; (v) the cost of preparing the Securities; (vi) the fees and expenses of the Trustee and any
agent of the Trustee and the fees and disbursements of counsel for the Trustee in connection with the Indenture and the Securities; (vii) 50% of all costs and expenses incurred in connection with any “road show” presentation to potential
purchasers of the Securities; (viii) any cost incurred in connection with the issuance, delivery and listing of the shares of Stock, if any, issuable upon conversion of the Securities and the Warrant Shares; and (ix) all other costs and
expenses incident to the performance of its obligations hereunder which are not otherwise specifically provided for in this Section. It is understood, however, that, except as provided in this Section, and Section 9 and Section 12 hereof,
the Purchasers will pay all of their own costs and expenses, 

  
 16 

	 	
including the fees of their counsel, transfer taxes on resale of any of the Securities by them, and any advertising expenses connected with any offers they may make. 

 

	8.	The obligations of the Purchasers hereunder, as to the Securities to be delivered at each Time of Delivery, shall be subject, in their discretion, to the condition that all representations and warranties and other
statements of the Company contained herein are, at and as of such Time of Delivery, true and correct, the condition that the Company shall have performed all of its obligations hereunder theretofore to be performed, and the following
additional conditions: 

  

	 	(a)	Latham & Watkins LLP, counsel for the Purchasers, shall have furnished to you their written opinion and negative assurance letter, in each case, dated such Time of Delivery, in form and substance satisfactory
to you, and such counsel shall have received such papers and information as they may reasonably request to enable them to pass upon such matters; 

  

	 	(b)	Vorys, Sater, Seymour and Pease LLP, counsel for the Company, shall have furnished to you their written opinion and negative assurance letter, in each case, dated such Time of Delivery, in form and substance
satisfactory to you, to the effect set forth in Annex I hereto; 

  

	 	(c)	On the date of the Offering Circular concurrently with the execution of this Agreement and also at each Time of Delivery, Deloitte & Touche LLP shall have furnished to you a letter or letters, dated the
respective dates of delivery thereof, in form and substance satisfactory to you; 

  

	 	(d)	(i) Neither the Company nor any of its subsidiaries shall have sustained since the date of the latest audited financial statements included in the Pricing Circular any loss or interference with its business from fire,
explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated in the Pricing Circular, and (ii) since the
respective dates as of which information is given in the Pricing Circular, at each Time of Delivery, there shall not have been any change in the capital stock or long-term debt of the Company or any of its
subsidiaries or any change, or any development involving a prospective change, in or affecting the general affairs, management, financial position, stockholders’ equity or results of operations of the Company and its subsidiaries, otherwise
than as set forth or contemplated in the Pricing Circular, the effect of which, in any such case described in clause (i) or (ii), is in your judgment so material and adverse as to make it impracticable or inadvisable to proceed with the
offering or the delivery of the Securities on the terms and in the manner contemplated in this Agreement and in each of the Pricing Disclosure Package and the Offering Circular; 

 

	 	(e)	On or after the Applicable Time (i) no downgrading shall have occurred in the rating accorded the Company’s debt securities by any “nationally recognized statistical rating organization”, as that
term is defined by the Commission for purposes of Rule 436(g)(2) under the Act, and (ii) no such organization shall have publicly announced that it has under surveillance or review, with possible negative implications, its rating of any of the
Company’s debt securities; 

  

	 	(f)	 On or after the Applicable Time there shall not have occurred any of the following: (i) a suspension or
material limitation in trading in securities generally on the NASDAQ; (ii) a suspension or material limitation in trading in the Company’s securities on the NASDAQ; (iii) a general moratorium on commercial banking activities declared by
either Federal or New York State authorities or a material disruption in commercial banking or securities settlement or clearance services in the United States; (iv) the outbreak or escalation of hostilities

  
 17 

	 	
involving the United States or the declaration by the United States of a national emergency or war or (v) the occurrence of any other calamity or crisis or any change in financial, political
or economic conditions in the United States or elsewhere, if the effect of any such event specified in clause (iv) or (v) in your judgment makes it impracticable or inadvisable to proceed with the offering or the delivery of the Securities on
the terms and in the manner contemplated in the Pricing Disclosure Package and the Offering Circular; 

  

	 	(g)	The shares of Stock issuable upon conversion of the Securities shall have been approved for listing, subject to notice of issuance, for quotation on the NASDAQ; 

 

	 	(h)	The Company shall have obtained and delivered to the Purchasers executed copies of a lock-up agreement from each of the parties named in Schedule IV hereto substantially in
the form set forth in Annex II hereto; 

  

	 	(i)	The Company shall have executed and delivered the Indenture, and the Purchasers shall have received an executed original copy thereof, and no event that would be a “Default” or “Event of Default”
under the Indenture exists; 

  

	 	(j)	The Securities shall be eligible for clearance and settlement through the facilities of DTC; and 

  

	 	(k)	The Company shall have furnished or caused to be furnished to you at each Time of Delivery certificates of officers of the Company satisfactory to you as to the accuracy of the representations and warranties of the
Company herein at and as of such Time of Delivery, as to the performance by the Company of all of its obligations hereunder to be performed at or prior to such Time of Delivery, as to the matters set forth in subsection (e) of this
Section and as to such other matters as you may reasonably request. 

  

	 	(l)	No event has occurred that would, if the Securities were outstanding, require an adjustment to the conversion rate for the Securities pursuant to the Indenture. 

 

	 	(m)	The Purchasers shall have received at each Time of Delivery a certificate of solvency, dated such Time of Delivery, executed by the principal financial or accounting officer of the Company in the form of Annex
III attached hereto. 

  

	 9. 
	(a)	 The Company will indemnify and hold harmless each Purchaser against any losses, claims, damages or liabilities, joint or several, to which
such Purchaser may become subject, under the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact
contained in any Preliminary Offering Circular, the Pricing Circular, the Pricing Disclosure Package, the Offering Circular, or any amendment or supplement thereto, any Company Supplemental Disclosure Document, any Permitted General
Solicitation Material or arise out of or are based upon the omission or alleged omission to state therein a material fact necessary to make the statements therein not misleading, and will reimburse each Purchaser for any legal or other expenses
reasonably incurred by such Purchaser in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however, that the Company shall not be liable in any such case to the extent that any
such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in any Preliminary Offering Circular, the Pricing Circular, the Pricing Disclosure
Package, the Offering Circular or any such amendment or supplement, any Company Supplemental Disclosure Document or any Permitted General Solicitation 

  
 18 

	 	
Material, in reliance upon and in conformity with written information furnished to the Company by any Purchaser through the Representatives expressly for use therein. 

 

	 	(b)	Each Purchaser, severally and not jointly, will indemnify and hold harmless the Company against any losses, claims, damages or liabilities to which the Company may become subject, under the Act or otherwise, insofar as
such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in any Preliminary Offering Circular, the Pricing Circular, the
Pricing Disclosure Package, the Offering Circular, or any amendment or supplement thereto, or any Company Supplemental Disclosure Document, any Permitted General Solicitation Material or arise out of or are based upon the omission or alleged
omission to state therein a material fact or necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made
in any Preliminary Offering Circular, the Pricing Circular, the Pricing Disclosure Package, the Offering Circular or any such amendment or supplement, any Company Supplemental Disclosure Document or any Permitted General Solicitation Material, in
reliance upon and in conformity with written information furnished to the Company by such Purchaser through the Representatives expressly for use therein; and each Purchaser will reimburse the Company for any legal or other expenses
reasonably incurred by the Company in connection with investigating or defending any such action or claim as such expenses are incurred. 

  

	 	(c)	Promptly after receipt by an indemnified party under subsection (a) or (b) above of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the
indemnifying party under such subsection, notify the indemnifying party in writing of the commencement thereof; but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to any indemnified party
otherwise than under such subsection. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate therein and,
to the extent that it shall wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be
counsel to the indemnifying party), and, after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying party shall not be liable to such indemnified party under such subsection
for any legal expenses of other counsel or any other expenses, in each case subsequently incurred by such indemnified party, in connection with the defense thereof other than reasonable costs of investigation. No indemnifying party shall, without
the written consent of the indemnified party, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be
sought hereunder (whether or not the indemnified party is an actual or potential party to such action or claim) unless such settlement, compromise or judgment (i) includes an unconditional release of the indemnified party from all liability
arising out of such action or claim and (ii) does not include a statement as to, or an admission of, fault, culpability or a failure to act, by or on behalf of any indemnified party. 

 

	 	(d)	 If the indemnification provided for in this Section 9 is unavailable to or insufficient to hold harmless an
indemnified party under subsection (a) or (b) above in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each 

  
 19 

	 	
indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such
proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and the Purchasers on the other from the offering of the Securities. If, however, the allocation provided by the immediately preceding sentence is
not permitted by applicable law or if the indemnified party failed to give the notice required under subsection (c) above, then each indemnifying party shall contribute to such amount paid or payable by such indemnified party in such proportion
as is appropriate to reflect not only such relative benefits but also the relative fault of the Company on the one hand and the Purchasers on the other in connection with the statements or omissions which resulted in such losses, claims, damages or
liabilities (or actions in respect thereof), as well as any other relevant equitable considerations. The relative benefits received by the Company on the one hand and the Purchasers on the other shall be deemed to be in the same proportion as the
total net proceeds from the offering (net of underwriting discounts but before deducting expenses) received by the Company bear to the total underwriting discounts and commissions received by the Purchasers, in each case as set forth in the Offering
Circular. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by
the Company on the one hand or the Purchasers on the other and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Purchasers agree that it would
not be just and equitable if contribution pursuant to this subsection (d) were determined by pro rata allocation (even if the Purchasers were treated as one entity for such purpose) or by any other method of allocation which does not take
account of the equitable considerations referred to above in this subsection (d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages or liabilities (or actions in respect thereof) referred to above in this
subsection (d) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this subsection (d),
no Purchaser shall be required to contribute any amount in excess of the amount by which the total price at which the Securities underwritten by it and distributed to investors were offered to investors exceeds the amount of any damages which such
Purchaser has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. The Purchasers’ obligations in this subsection (d) to contribute are several in proportion to their
respective purchase obligations and not joint. 

  

	 	(e)	The obligations of the Company under this Section 9 shall be in addition to any liability which the Company may otherwise have and shall extend, upon the same terms and conditions, to any affiliate of each
Purchaser and each person, if any, who controls any Purchaser within the meaning of the Act; and the obligations of the Purchasers under this Section 9 shall be in addition to any liability which the respective Purchasers may otherwise have and
shall extend, upon the same terms and conditions, to each officer and director of the Company and to each person, if any, who controls the Company within the meaning of the Act. 

 

	 10. 
	(a)	 If any Purchaser shall default in its obligation to purchase the Securities which it has agreed to purchase hereunder at a Time of Delivery,
you may in your discretion arrange for you or another party or other parties to purchase such Securities on the terms contained herein. If within thirty-six hours after such default by any Purchaser you do not
arrange for the purchase of such Securities, then the Company shall be entitled to a further period of 

  
 20 

	 	
thirty-six hours within which to procure another party or other parties satisfactory to you to purchase such Securities on such terms. In the event that,
within the respective prescribed periods, you notify the Company that you have so arranged for the purchase of such Securities, or the Company notifies you that it has so arranged for the purchase of such Securities, you or the Company shall have
the right to postpone such Time of Delivery for a period of not more than seven days, in order to effect whatever changes may thereby be made necessary in the Offering Circular, or in any other documents or arrangements, and the Company agrees to
prepare promptly any amendments or supplements to the Offering Circular which in your opinion may thereby be made necessary. The term “Purchaser” as used in this Agreement shall include any person substituted under this Section with like
effect as if such person had originally been a party to this Agreement with respect to such Securities. 

  

	 	(b)	If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Purchaser or Purchasers by you and the Company as provided in subsection (a) above, the aggregate principal amount of
such Securities which remains unpurchased does not exceed one-eleventh of the aggregate principal amount of all the Securities to be purchased at such Time of Delivery, then the Company shall have the right to
require each non-defaulting Purchaser to purchase the principal amount of Securities which such Purchaser agreed to purchase hereunder at such Time of Delivery and, in addition, to require each non-defaulting Purchaser to purchase its pro rata share (based on the principal amount of Securities which such Purchaser agreed to purchase hereunder) of the Securities of such defaulting Purchaser or Purchasers
for which such arrangements have not been made; but nothing herein shall relieve a defaulting Purchaser from liability for its default. 

  

	 	(c)	If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Purchaser or Purchasers by you and the Company as provided in subsection (a) above, the aggregate principal amount of
Securities which remains unpurchased exceeds one-eleventh of the aggregate principal amount of all the Securities to be purchased at such Time of Delivery, or if the Company shall not exercise the right
described in subsection (b) above to require non-defaulting Purchasers to purchase Securities of a defaulting Purchaser or Purchasers, then this Agreement (or, with respect to the Second Time of Delivery,
the obligations of the Purchasers to purchase and the Company to sell the Optional Securities) shall thereupon terminate, without liability on the part of any non-defaulting Purchaser or the Company, except
for the expenses to be borne by the Company and the Purchasers as provided in Section 6 hereof and the indemnity and contribution agreements in Section 9 hereof; but nothing herein shall relieve a defaulting Purchaser from liability for
its default. 

  

	11.	The respective indemnities, agreements, representations, warranties and other statements of the Company and the several Purchasers, as set forth in this Agreement or made by or on behalf of them, respectively, pursuant
to this Agreement, shall remain in full force and effect, regardless of any investigation (or any statement as to the results thereof) made by or on behalf of any Purchaser or any controlling person of any Purchaser, or the Company, or any officer
or director or controlling person of the Company, and shall survive delivery of and payment for the Securities. 

  

	12.	 If this Agreement shall be terminated pursuant to Section 10 hereof, the Company shall not then be
under any liability to any Purchaser except as provided in Sections 7 and 9 hereof; but, if for any other reason, the Securities are not delivered by or on behalf of the Company as provided herein, the Company will reimburse the Purchasers through
you for all expenses approved in writing by you, including fees and disbursements of counsel, reasonably incurred by the 

  
 21 

	 	
Purchasers in making preparations for the purchase, sale and delivery of the Securities, but the Company shall then be under no further liability to any Purchaser except as provided in Sections 7
and 9 hereof. 

  

	13.	In all dealings hereunder, you shall act on behalf of each of the Purchasers, and the parties hereto shall be entitled to act and rely upon any statement, request, notice or agreement on behalf of any Purchaser made or
given by you jointly or by Goldman, Sachs & Co. LLC or SunTrust Robinson Humphrey, Inc. on behalf of you as the Representatives. 

All statements, requests, notices and agreements hereunder shall be in writing, and if to the Purchasers shall be delivered or sent by mail or facsimile
transmission to you as the Representatives, in care of Goldman, Sachs & Co. LLC, 200 West Street, New York, New York 10282-2198, Attention: Registration Department and SunTrust Robinson Humphrey, Inc., 711 5th Avenue | 14th Floor, New York,
New York 10022; and if to the Company shall be delivered or sent by mail or facsimile transmission to the address of the Company set forth in the Offering Circular, Attention: Secretary; provided, however, that any notice to a
Purchaser pursuant to Section 9 hereof shall be delivered or sent by mail or facsimile transmission to such Purchaser at its address set forth in its Purchasers’ Questionnaire, which address will be supplied to the Company by the
Representatives upon request. Any such statements, requests, notices or agreements shall take effect upon receipt thereof. 
 In accordance with the
requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), the Purchasers are required to obtain, verify and record information that identifies their respective
clients, including the Company, which information may include the name and address of their respective clients, as well as other information that will allow the Purchasers to properly identify their respective clients. 

 

	14.	This Agreement shall be binding upon, and inure solely to the benefit of, the Purchasers, the Company and, to the extent provided in Sections 9 and 11 hereof, the officers and directors of the Company and each person
who controls the Company or any Purchaser, and their respective heirs, executors, administrators, successors and assigns, and no other person shall acquire or have any right under or by virtue of this Agreement. No purchaser of any of the
Securities from any Purchaser shall be deemed a successor or assign by reason merely of such purchase. 

  

	15.	Time shall be of the essence of this Agreement. 

  

	16.	The Company acknowledges and agrees that (i) the purchase and sale of the Securities pursuant to this Agreement is an arm’s-length commercial transaction between the
Company, on the one hand, and the several Purchasers, on the other, (ii) in connection therewith and with the process leading to such transaction each Purchaser is acting solely as a principal and not the agent or fiduciary of the Company,
(iii) no Purchaser has assumed an advisory or fiduciary responsibility in favor of the Company with respect to the offering contemplated hereby or the process leading thereto (irrespective of whether such Purchaser has advised or is currently
advising the Company on other matters) or any other obligation to the Company except the obligations expressly set forth in this Agreement and (iv) the Company has consulted its own legal and financial advisors to the extent it deemed
appropriate. The Company agrees that it will not claim that the Purchasers, or any of them, has rendered advisory services of any nature or respect, or owes a fiduciary or similar duty to the Company, in connection with such transaction or the
process leading thereto. 

  

	17.	This Agreement supersedes all prior agreements and understandings (whether written or oral) between the Company and the Purchasers, or any of them, with respect to the subject matter hereof. 

  
 22 

	18.	THIS AGREEMENT AND ANY MATTERS RELATED TO THIS TRANSACTION SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS THAT WOULD RESULT IN
THE APPLICATION OF ANY LAW OTHER THAN THE LAWS OF THE STATE OF NEW YORK. The Company agrees that any suit or proceeding arising in respect of this agreement or our engagement will be tried exclusively in the U.S. District Court for the Southern
District of New York or, if that court does not have subject matter jurisdiction, in any state court located in The City and County of New York and the Company agrees to submit to the jurisdiction of, and to venue in, such courts.

  

	19.	The Company and each of the Purchasers 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
Agreement or the transactions contemplated hereby. 

  

	20.	This Agreement may be executed by any one or more of the parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such respective counterparts shall together constitute one
and the same instrument. 

  

	21.	Notwithstanding anything herein to the contrary, the Company (and the Company’s employees, representatives, and other agents) are authorized to disclose to any and all persons, the tax treatment and tax structure
of the potential transaction and all materials of any kind (including tax opinions and other tax analyses) provided to the Company relating to that treatment and structure, without the Purchasers’ imposing any limitation of any kind. However,
any information relating to the tax treatment and tax structure shall remain confidential (and the foregoing sentence shall not apply) to the extent necessary to enable any person to comply with securities laws. For this purpose, “tax
treatment” means US federal and state income tax treatment, and “tax structure” is limited to any facts that may be relevant to that treatment. 

If the foregoing is in accordance with your understanding, please sign and return to us one for the Company and each of the Representatives plus one for each
counsel counterparts hereof, and upon the acceptance hereof by you, on behalf of each of the Purchasers, this Agreement and such acceptance hereof shall constitute a binding agreement between each of the Purchasers and the Company. It is understood
that your acceptance of this Agreement on behalf of each of the Purchasers is pursuant to the authority set forth in a form of Agreement among Purchasers, the form of which shall be submitted to the Company for examination upon request, but without
warranty on your part as to the authority of the signers thereof. 
 [Signature Page to Follow] 

  
 23 

 
	
	Very truly yours,
	Air Transport Services Group, Inc.

  

			
	By:	 	/s/ W. Joseph Payne
	Name:	 	W. Joseph Payne
	Title:	 	Chief Legal Officer

 Accepted as of the date hereof: 

Goldman, Sachs & Co. LLC 
  

			
	By:	 	/s/ Daniel Young
		
	Name:	 	Daniel Young
		
	Title:	 	Managing Director

 SunTrust Robinson Humphrey, Inc. 
  

			
	By:	 	/s/ Terence T. O’Malley, Jr.
		
	Name:	 	Terence T. O’Malley, Jr.
		
	Title:	 	Managing Director

 On behalf of each of the Purchasers 

					
	SCHEDULE I	 
		
	 Purchaser
	  	Principal
Amount of
Firm
Securities
to be
Purchased	 
	 Goldman Sachs & Co. LLC
	  	$	112,500,000	 
	 SunTrust Robinson Humphrey, Inc.
	  	 	96,368,000	 
	 J.P. Morgan Securities LLC
	  	 	8,066,000	 
	 Merrill Lynch, Pierce, Fenner & Smith

Incorporated
	  	 	8,066,000	 
		  	  
	  
	 
	 Total
	  	$	225,000,000	 
		  	  
	  
	 

 SCHEDULE II 
  

	(a)	Additional Documents Incorporated by Reference: [None.] 

  

	(b)	Company Supplemental Disclosure Documents: [None.] 

  

	(c)	Purchaser Supplemental Disclosure Documents: [None.] 

  

	(d)	Permitted General Solicitation Materials: [None.] 

 SCHEDULE III 

Pricing Term Sheet 
  

			
	PRICING TERM SHEET	  	CONFIDENTIAL

 September 25, 2017 

Air Transport Services Group, Inc. 

Offering of 
 $225,000,000
Aggregate Principal Amount of 
 1.125% Convertible Senior Notes due 2024 

The information in this pricing term sheet supplements Air Transport Services Group, Inc.’s preliminary offering circular, dated
September 25, 2017 (the “Preliminary Offering Circular”), and supersedes the information in the Preliminary Offering Circular to the extent inconsistent with the information in the Preliminary Offering Circular. Terms
used, but not defined, in this pricing term sheet have the respective meanings set forth in the Preliminary Offering Circular. As used in this pricing term sheet, “we,” “our” and “us” refer to Air Transport
Services Group, Inc. and not to its subsidiaries. 
  

			
	Issuer	  	Air Transport Services Group, Inc.
		
	Ticker / Exchange for Common Stock	  	ATSG / The NASDAQ Global Select Market (“NASDAQ”).
		
	Trade Date	  	September 26, 2017.
		
	Settlement Date	  	September 29, 2017, which is the fourth business day after the date of this pricing term sheet. Currently, trades in the secondary market for convertible notes ordinarily settle two business days after the date of execution,
unless the parties to the trade agree otherwise. Accordingly, investors in this offering who wish to sell their Notes before the second business day preceding the Settlement Date must specify an alternate settlement arrangement at the time of the
trade to prevent a failed settlement. Those investors should consult their advisors.
		
	Notes	  	1.125% convertible senior notes due 2024 (the “Notes”).

			
	Principal Amount	  	$225,000,000 (or, if the initial purchasers fully exercise their option to purchase additional Notes, $258,750,000) aggregate principal amount of Notes.
		
	Offering Price	  	100% of the principal amount of the Notes.
		
	Maturity	  	October 15, 2024, unless earlier repurchased or converted.
		
	Stated Interest Rate	  	1.125% per annum.
		
	Interest Payment Dates	  	April 15 and October 15 of each year, beginning on April 15, 2018.
		
	Record Dates	  	April 1 and October 1.
		
	 Last Reported Sale Price per

    Share of Common Stock on

    NASDAQ on

    September 25, 2017
	  	$23.63.
		
	Conversion Premium	  	Approximately 35% above the Last Reported Sale Price per Share of Common Stock on NASDAQ on September 25, 2017.
		
	Initial Conversion Price	  	Approximately $31.90 per share of common stock.
		
	Initial Conversion Rate	  	31.3475 shares of common stock per $1,000 principal amount of Notes.
		
	Use of Proceeds	  	The Issuer estimates that the net proceeds to it from this offering will be approximately $204.0 million (or approximately $234.6 million if the initial purchasers fully exercise their option to purchase additional
Notes), after deducting the initial purchasers’ discounts and commissions and the Issuer’s estimated offering expenses. The Issuer intends to use approximately $15.3 million of the net proceeds from this offering, together with the
proceeds from the warrants described in the Preliminary Offering Circular, to pay the

			
		  	cost of the convertible note hedge transactions described in the Preliminary Offering Circular (or approximately $17.6 million if the Issuer enters into additional convertible note hedge transactions as a result of the
initial purchasers fully exercising their option to purchase additional Notes). The Issuer intends to use the remainder of the net proceeds to repay a portion of the outstanding borrowings under its $545 million revolving credit facility and
for general corporate purposes. If the initial purchasers exercise their option to purchase additional Notes, then the Issuer intends to sell additional warrants as described in the Preliminary Offering Circular and use a portion of the net proceeds
from the sale of the additional Notes, together with the proceeds from the additional warrants, to enter into an additional convertible note hedge transactions as described in the Preliminary Offering Circular.
		
	Book-Running Managers	  	Goldman Sachs & Co. LLC SunTrust Robinson Humphrey, Inc.
		
	Co-Managers	  	 Merrill Lynch, Pierce, Fenner & Smith

Incorporated
  

J.P. Morgan Securities LLC

		
	CUSIP / ISIN Numbers	  	00922R AA3 / US00922RAA32.

			
	 Increase to Conversion Rate in Connection with a
Make-Whole Fundamental
Change
	  	If a make-whole fundamental change occurs and the conversion date for the conversion of a Note occurs during the related make-whole fundamental change conversion period, then, subject to the provisions described in the
Preliminary Offering Circular under the caption “Description of Notes—Conversion Rights—Increase in Conversion Rate in Connection with a Make-Whole Fundamental Change,” the conversion rate applicable to such conversion will be
increased by a number of shares set forth in the table below corresponding (after interpolation as described in the Preliminary Offering Circular under such caption) to the effective date and the stock price of such make-whole fundamental
change:

  

																																									
	 	  	Stock Price	 
	 Effective Date
	  	$23.63	 	  	$25.00	 	  	$30.00	 	  	$31.90	 	  	$35.00	 	  	$40.00	 	  	$50.00	 	  	$60.00	 	  	$70.00	 	  	$80.00	 
	 September 29, 2017
	  	 	10.9715	 	  	 	9.7988	 	  	 	6.7023	 	  	 	5.8683	 	  	 	4.7791	 	  	 	3.5210	 	  	 	2.0558	 	  	 	1.2838	 	  	 	0.8340	 	  	 	0.5501	 
	 October 15, 2018
	  	 	10.9715	 	  	 	9.6692	 	  	 	6.4820	 	  	 	5.6332	 	  	 	4.5329	 	  	 	3.2795	 	  	 	1.8566	 	  	 	1.1328	 	  	 	0.7239	 	  	 	0.4723	 
	 October 15, 2019
	  	 	10.9715	 	  	 	9.5452	 	  	 	6.2383	 	  	 	5.3690	 	  	 	4.2534	 	  	 	3.0045	 	  	 	1.6330	 	  	 	0.9668	 	  	 	0.6054	 	  	 	0.3901	 
	 October 15, 2020
	  	 	10.9715	 	  	 	9.3944	 	  	 	5.9333	 	  	 	5.0386	 	  	 	3.9057	 	  	 	2.6678	 	  	 	1.3692	 	  	 	0.7788	 	  	 	0.4763	 	  	 	0.3038	 
	 October 15, 2021
	  	 	10.9715	 	  	 	9.1892	 	  	 	5.5243	 	  	 	4.5984	 	  	 	3.4497	 	  	 	2.2383	 	  	 	1.0548	 	  	 	0.5682	 	  	 	0.3389	 	  	 	0.2153	 
	 October 15, 2022
	  	 	10.9715	 	  	 	8.9116	 	  	 	4.9400	 	  	 	3.9730	 	  	 	2.8140	 	  	 	1.6695	 	  	 	0.6858	 	  	 	0.3458	 	  	 	0.2039	 	  	 	0.1318	 
	 October 15, 2023
	  	 	10.9715	 	  	 	8.5684	 	  	 	4.0053	 	  	 	2.9712	 	  	 	1.8354	 	  	 	0.8918	 	  	 	0.2914	 	  	 	0.1427	 	  	 	0.0884	 	  	 	0.0606	 
	 October 15, 2024
	  	 	10.9715	 	  	 	8.6525	 	  	 	1.9859	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 

 If such effective date or stock price are not set forth in the table above, then: 

 

	 	•	 	if such stock price is between two stock prices in the table above or the effective date is between two effective dates in the table above, then the number of additional shares will be determined by a straight-line
interpolation between the numbers of additional shares set forth for the higher and lower stock prices in the table and the earlier and later effective dates in the table above, as applicable, based on a 365-
or 366-day year, as applicable; and 

  

	 	•	 	 if the stock price is greater than $80.00 (subject to adjustment in the same manner as the stock prices set forth
in the column headings of the table above are adjusted, as described in the Preliminary Offering Circular under the caption “Description of Notes—Conversion Rights—Increase in Conversion Rate in Connection with a Make-Whole
Fundamental 

	 	 
Change—Adjustment of Stock Prices and Number of Additional Shares”), or less than $23.63 (subject to adjustment in the same manner), per share, then no additional shares will be added
to the conversion rate. 

 Notwithstanding anything to the contrary, in no event will the conversion rate be increased to an amount that
exceeds 42.3190 shares of common stock per $1,000 principal amount of Notes, which amount is subject to adjustment in the same manner as, and at the same time and for the same events for which, the conversion rate is required to be adjusted pursuant
to the provisions described in the Preliminary Offering Circular under the caption “Description of Notes—Conversion Rights—Conversion Rate Adjustments—Generally.” 

* * * 
 This communication is confidential and
is intended for the sole use of the person to whom it is provided by the sender. The information in this pricing term sheet does not purport to be a complete description of the Notes or the offering. 

The offer and sale of the Notes and any shares of common stock issuable upon conversion of the Notes have not been, and will not be, registered under the
Securities Act of 1933, as amended (the “Securities Act”), or any other securities laws, and the Notes and any such shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act and any other applicable securities laws. The initial purchasers are initially offering the Notes only to qualified institutional buyers as defined in, and in reliance on, Rule 144A under the Securities Act. The
Notes and any shares of common stock issuable upon conversion of the Notes are not transferable except in accordance with the restrictions described in the Preliminary Offering Circular under the caption “Transfer Restrictions.” 

You should rely only on the information contained or incorporated by reference in the Preliminary Offering Circular, as supplemented by this pricing term
sheet, in making an investment decision with respect to the Notes. 
 Neither this pricing term sheet nor the Preliminary Offering Circular
constitutes an offer to sell or a solicitation of an offer to buy any Notes in any jurisdiction where it is unlawful to do so, where the person making the offer is not qualified to do so or to any person who cannot legally be offered the Notes.

 ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR
OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM. 

 SCHEDULE IV 

Parties to Lock-Up Agreement 

Joseph C. Hete 
 Quint O. Turner 

Richard F. Corrado 
 W. Joseph Payne 

Richard A. Baudouin 
 Randy D. Rademacher 

J. Christopher Teets 
 Jeffrey J. Vorholt 

 ANNEX I 

Form of Opinion of Company’s Counsel 

to be delivered pursuant to Section 8(b) 

 ANNEX II 

Form of Lock-Up Agreement 

Lock-Up Agreement 

[ ● ], 2017 

Goldman, Sachs & Co. LLC, 
 SunTrust Robinson Humphrey,
Inc. 
 c/o Goldman, Sachs & Co. LLC, 
 200 West
Street 
 New York, New York 10282-2198 
 c/o SunTrust Robinson
Humphrey, Inc. 
 711 5th Avenue, 14th Floor 
 New York, New
York 10022 
 Dear Sirs: 
 The undersigned, a stockholder, an
officer and/or director of Air Transport Services Group, Inc., a Delaware corporation (the “Company”), understands that Goldman, Sachs & Co. LLC and SunTrust Robinson Humphrey, Inc. (together, the “Representatives”)
propose to enter into a Purchase Agreement (the “Purchase Agreement”) with the Company providing for the private offering of 1.125% Convertible Senior Notes due 2024 (the “Offering”), convertible into common stock, par value
$0.01 per share, of the Company (the “Common Stock”), which will be offered pursuant to Rule 144A by means of an offering circular (the “Offering Circular”). In recognition of the benefit that such an offering will confer upon
the undersigned as a stockholder, an officer and/or director of the Company, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned agrees with the Representatives that, during
the period beginning on the date hereof and ending on the date that is 60 days from the date of the Purchase Agreement (subject to extensions as discussed below) (the “Lock-Up Period”), the
undersigned will not, without the prior written consent of the Representatives, except pursuant to the Purchase Agreement, (i) directly or indirectly, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any
option or contract to sell, grant any option, right or warrant to purchase or otherwise transfer or dispose of any shares of the Company’s Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock, whether
now owned or hereafter acquired by the undersigned or with respect to which the undersigned has or hereafter acquires the power of disposition (collectively, the “Lock-Up Securities”), or exercise
any right with respect to the registration of any of the Lock-up Securities, or file or cause to be filed any registration statement in connection therewith, under the Securities Act of 1933, as amended, or
(ii) enter into any swap or any other agreement or any transaction that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of the Lock-Up Securities, whether any
such swap or transaction is to be settled by delivery of Common Stock or other securities, in cash or otherwise. 

 Notwithstanding the foregoing, and subject to the conditions below, the undersigned may transfer
the Lock-Up Securities without the prior written consent of the Representatives, provided that (1) the Representatives receive or have received a signed lock-up
agreement for the balance of the lockup period from each donee, trustee, distributee, or transferee, as the case may be (except in the case of clauses (ii), (v) and (vi)), (2) any such transfer shall not involve a disposition for value (except in
the case of clauses (v) and (vi)), (3) such transfers are not required during the Lock-Up Period to be reported with the Securities and Exchange Commission on Form 4 in accordance with Section 16 of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (except in the case of clauses (v), (vi) and (ix)), and (4) the undersigned does not otherwise voluntarily effect any public filing or report regarding such
transfers during the Lock-Up Period (except in the case of clauses (v), (vi) and (ix)): 
  

	 	i.	as a bona fide gift or gifts; or 

  

	 	ii.	as a bona fide charitable donation; or 

  

	 	iii.	to any trust for the direct or indirect benefit of the undersigned or the immediate family of the undersigned (for purposes of this lock-up agreement, “immediate family”
shall mean any relationship by blood, marriage or adoption, not more remote than first cousin); or 

  

	 	iv.	as a distribution to limited partners, stockholders or equity holders of the undersigned; or 

  

	 	v.	in connection with the withholding, receipt, exercise, cashless (or net) exercise (whether to cover exercise price, taxes or other fees and expenses), settlement, vesting or forfeiture of, or removal or lapse of
restrictions on, any stock option, Common Stock issued upon exercise of a stock option, restricted share unit, restricted stock or other award pursuant to any employee benefit or director equity plan or agreement in existence as of the date hereof,
so long as (x) such transaction or event does not involve the sale or transfer of any shares of Common Stock (other than from the undersigned to the Company), (y) any filing or public announcement made in connection therewith states that such
transfer was to the Company in connection with such exercise or settlement, and (z) such right of exercise or settlement occurs or expires during the Lock-Up Period; provided, that for the avoidance of
doubt, this clause (iv) will expressly permit the cashless exercise of stock options due to expire during the term of this Agreement; provided, further, that the net proceeds of such exercise following the sale or transfer of any shares of
Common Stock to cover the exercise price, taxes or other fees and expenses, shall be held in shares of Common Stock; or 

  

	 	vi.	 in connection with the withholding of Common Stock or restricted share units by the Company, at the direction of
the undersigned, for the payment of taxes in connection with the vesting or settlement of a stock option, restricted share unit, restricted stock or other award pursuant to any employee benefit or director equity plan or agreement in existence as of
the date hereof; provided, that (x) such transaction or event does not involve the sale or transfer of any shares of Common Stock or restricted share units (other than from the undersigned to the Company), (y) any filing or public

  
 A-2 

	 	
announcement made in connection therewith states that such transfer was to the Company in connection with such exercise, and (z) such right of vesting or settlement occurs or expires during
the Lock-Up Period; or 

  

	 	vii.	in connection with the establishment of a trading plan pursuant to Rule 10b5-1 under the Exchange Act for the sale of shares of Common Stock, provided, that such plan does not
provide for the sale of Common Stock during the Lock-Up Period and no public announcement or filing under the Exchange Act regarding the establishment of such plan shall be required of or voluntarily made by
or on behalf of the undersigned or the Company; or 

  

	 	viii.	in connection with sales under a trading plan existing on the date hereof pursuant to Rule 10b5-1 under the Exchange Act for the sale of shares of Common Stock; provided that such
plan cannot be altered or amended to permit the sale of shares of Common Stock during the Lock-Up Period; or 

  

	 	ix.	to the undersigned’s affiliates or to any investment fund or other entity controlled or managed by the undersigned, provided that any filing or public announcement made in connection therewith states that such
transfer was to the undersigned’s affiliates or to any investment fund or other entity controlled, managed by the undersigned. 

Furthermore, the undersigned may sell shares of Common Stock of the Company purchased by the undersigned on the open market following the
Offering if and only if (i) such sales are not required during the Lock-Up Period to be reported in any public report or filing with the Securities and Exchange Commission, or otherwise and (ii) the
undersigned does not otherwise voluntarily effect any public filing or report regarding such sales during the Lock-Up Period. 

This letter agreement shall automatically terminate and become void upon the earlier to occur, if applicable of: (i) the termination of
the Purchase Agreement prior to the consummation of the Offering and (ii) October 31, 2017 if the Purchase Agreement has not been executed by then. 

The undersigned also agrees and consents to the entry of stop transfer instructions with the Company’s transfer agent and registrar
against the transfer of the Lock-Up Securities except in compliance with the foregoing restrictions. 
  

	
	Very truly yours,
	
	Signature:                                    
        
	
	Print
Name:                                        
 

  
 A-3 

 ANNEX III 

FORM OF SOLVENCY CERTIFICATE 
 The
undersigned, Quint O. Turner, Chief Financial Officer of Air Transport Services Group, Inc., a Delaware corporation (“the Company”), solely in his capacity as Chief Financial Officer of Company and not in any individual capacity,
does herby certify pursuant to Section 8(m) of the purchase agreement (the “Purchase Agreement”) dated as of September 25, 2017, by and between the Company and Goldman, Sachs & Co. and SunTrust Robinson Humphrey,
Inc., as Representatives of the Purchasers named therein, as follows: 
 On the date hereof, after giving effect to the Company’s business as currently
proposed to be conducted as described in the Pricing Disclosure Package and Offering Circular and after giving pro forma effect to the offering and the use of proceeds therefrom described under the caption “Use of Proceeds” in the Pricing
Disclosure Package and Offering Circular: 
  

	 	1.	The fair value of the properties of the Company and its subsidiaries, taken as a whole, will exceed their consolidated debts and liabilities, subordinated, contingent or otherwise; 

 

	 	2.	The present fair saleable values of the property of the Company and its subsidiaries, taken as a whole, will be greater than the amount that will be required to pay the probable liability of their consolidated debts and
other liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured; 

  

	 	3.	The Company and its subsidiaries, taken as a whole, will be able to pay their consolidated debts and liabilities, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured;

  

	 	4.	The Company and its subsidiaries, taken as a whole, will not have unreasonably small capital with which to conduct the business in which they are engaged as such business is now conducted and is proposed, contemplated
or about to be conducted following the Time of Delivery; 

  

	 	5.	The Company has not incurred (by way of assumption or otherwise) any obligation or liability (contingent or otherwise) under the Purchase Agreement, the Indenture and the Securities with actual intent to hinder, delay
or defraud either present or future creditors of the Company and its subsidiaries or any of their affiliates, as case may be; 

  

	 	6.	 In reaching the conclusions set forth in this Certificate, the undersigned has considered such facts,
circumstances and matters as the undersigned has deemed appropriate and 

	 	
has made such investigations and inquiries as the undersigned has deemed appropriate, having taken into account the nature of the particular business anticipated to be conducted by the Company
after consummation of the transactions. 

 Unless otherwise defined herein, terms defined in the Purchase Agreement and used herein shall have
the meanings given to them in the Purchase Agreement. 
 The undersigned understands that the Purchasers are relying on the truth and accuracy of contents
of this Certificate in connection with its entering into the Purchase Agreement. This certificate is being delivered by the undersigned officer only in his capacity as Chief Financial Officer of the Company and not individually and the undersigned
shall have no personal liability to the Purchasers or any other person with respect thereto. 
  

			
	AIR TRANSPORT SERVICES GROUP, INC.
		
	By:	 	  

	Name:	 	Quint O. Turner
	Title:	 	Chief Financial Officer

  
 A-2

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