Document:

Exhibit 4.1

 

FIRST SUPPLEMENTAL INDENTURE

 

FIRST SUPPLEMENTAL INDENTURE, dated as of
January 6, 2020 (this “Supplemental Indenture”), by and between THE MEDICINES COMPANY, a Delaware corporation,
as issuer (the “Company”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, as trustee (the “Trustee”),
supplements the Indenture, dated as of January 13, 2015 (the “Indenture”), between the Company and the Trustee.

 

RECITALS OF THE COMPANY

 

WHEREAS, pursuant to the Indenture, the
Company issued $400,000,000 aggregate principal amount of 2.50% Convertible Senior Notes due 2022 (the “Notes”);

 

WHEREAS, pursuant to the Agreement and Plan
of Merger (the “Merger Agreement”), dated as of November 23, 2019, among Novartis AG, a company organized under
the laws of Switzerland (“Parent”), Medusa Merger Corporation, a Delaware corporation and an indirect, wholly
owned subsidiary of Parent (“Merger Sub”), and the Company, Merger Sub has offered to purchase any and all outstanding
shares of Company Common Stock (as defined in the Merger Agreement) (“Common Stock”) at a price per share of
$85.00 in cash, without interest and subject to any withholding of taxes required by applicable law (the “Offer”);

 

WHEREAS, following the consummation of the
Offer, pursuant to the Merger Agreement, Merger Sub will merge with and into the Company, with the Company continuing as the surviving
corporation and an indirect, wholly owned subsidiary of Parent (the “Merger”);

 

WHEREAS, pursuant to the Merger Agreement,
at the Effective Time (as defined in the Merger Agreement) (the “Effective Time”), each share of Common Stock
outstanding immediately prior to the Effective Time (other than (i) shares of Common Stock that at the Effective Time are
owned by the Company, Parent, Merger Sub, any other subsidiary of Parent or any subsidiary of the Company or that are held in the
Company’s treasury and (ii) shares of Common Stock that are outstanding immediately prior to the Effective Time and that
are held by a Company stockholder who properly demands and perfects appraisal rights under Delaware law) will be converted into
the right to receive $85.00 in cash, without interest and subject to any withholding of taxes required by applicable law;

 

WHEREAS, pursuant to Section 14.07(a) of the
Indenture, the Merger constitutes a Share Exchange Event, and the Indenture provides the Company shall execute with the Trustee
a supplemental indenture providing that from and after the Effective Time the right to convert each $1,000 principal amount of
Notes shall be changed into a right to convert such principal amount of Notes into the units of Reference Property;

 

WHEREAS, pursuant to the terms of the Merger
Agreement and Section 14.07(a) of the Indenture, each unit of Reference Property consists of $85.00 in cash;

 

WHEREAS, Section 10.01(j) of the Indenture
provides that the Company and the Trustee may enter into a supplemental indenture, without prior notice to or the consent of the
Holders of any of the Notes at the time outstanding, in connection with any Share Exchange Event to provide that the Notes are
convertible into Reference Property, subject to the provisions of Section 14.02 of the Indenture, and to make related changes to
the terms of the Notes to the extent expressly required by the Indenture;

 

     

     

    

 

WHEREAS, the Board of Directors has duly adopted
resolutions authorizing the Company to execute and deliver this Supplemental Indenture;

 

WHEREAS, the Company has requested that the
Trustee execute and deliver this Supplemental Indenture and has delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel; and

 

WHEREAS, all conditions precedent provided
for in the Indenture relating to the execution of this Supplemental Indenture have been complied with.

 

NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE
WITNESSETH, for and in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby
acknowledged, the parties hereto mutually covenant and agree for the equal and proportionate benefit of the Holders as follows:

 

ARTICLE I

TERMS

 

Section 1.01    Definitions. Capitalized
terms used but not defined herein have the meanings ascribed to such terms in the Indenture.

 

ARTICLE II

AMENDMENTS

 

Section 2.01    Conversion Right. Pursuant
to Section 14.07(a) of the Indenture, from and after the Effective Time, the right to convert each $1,000 principal amount of
Notes shall be changed into a right to convert such principal amount of Notes solely into a number of units of Reference Property
in an aggregate amount equal to the Conversion Rate in effect on the Conversion Date (subject to any adjustments under Section
14.03 of the Indenture) multiplied by the Stock Price paid per share of Common Stock in the Merger, (A) which in the case
of a conversion in connection with a Make-Whole Fundamental Change as described in the second sentence of Section 14.03(a) will
be cash equal to $2,539.851 per $1,000 principal amount of Notes based on a Conversion Rate equal to (i) 29.8806 shares of Common
Stock per $1,000 principal amount of Notes plus (ii) no Additional Shares (no Additional Shares are payable as determined
by reference to the table set forth in Section 14.03(e) of the Indenture based on the Effective Date of the Make-Whole Fundamental
Change being January 6, 2020 and the Stock Price paid per share of Common Stock in the Make-Whole Fundamental Change being $85.00),
and (B) which in the case of a conversion at all other times when such Notes are convertible beginning immediately after the Business
Day immediately preceding the Fundamental Change Repurchase Date corresponding to such Fundamental Change will be cash equal to
$2,539.851 per $1,000 principal amount of Notes. Accordingly, any reference in respect of the Holders’ conversion rights
to a share of Common Stock in the Indenture shall be deemed a reference to a right to receive an amount equal to $85.00 and the
provisions of the Indenture, as modified herein, shall continue to apply, mutatis mutandis, to the Holders’ right
to convert the Notes into the Reference Property.

 

    2

     

    

 

Section 2.02.    Last Reported Sale Price
of the Common Stock. With respect to any date from and after the Effective Time, the Last Reported Sale Price shall be $85.00
on that date, notwithstanding anything to the contrary in the Indenture.

 

ARTICLE III

ACCEPTANCE OF SUPPLEMENTAL INDENTURE

 

Section 3.01    Trustee’s Acceptance.
The Trustee hereby accepts this Supplemental Indenture and agrees to perform the same under the terms and conditions set forth
in the Indenture.

 

ARTICLE IV

MISCELLANEOUS PROVISIONS

 

Section 4.01    Governing Law; Waiver of Trial
by Jury. THIS SUPPLEMENTAL INDENTURE AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS SUPPLEMENTAL INDENTURE
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

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

 

Section 4.02    Benefits of Supplemental
Indenture. Nothing in this Supplemental Indenture, expressed or implied, shall give to any Person, other than the Holders,
the parties hereto, any Paying Agent, any Conversion Agent, any authenticating agent, any Note Registrar and their successors hereunder,
any benefit or any legal or equitable right, remedy or claim under this Supplemental Indenture.

 

Section 4.03    Execution in Counterparts.
This Supplemental Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts
shall together constitute but one and the same instrument. The exchange of copies of this Supplemental Indenture and of signature
pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Supplemental Indenture as to
the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties
hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.

 

Section 4.04    Ratification of Indenture.
The Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental
Indenture shall be deemed part of the Indenture in the manner and to the extent herein provided.

 

    3

     

    

 

Section 4.05    The Trustee. The Trustee
makes no representations as to and shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency
of this Supplemental Indenture. The recitals in this Supplemental Indenture are made by the Company only and not by the Trustee,
and all of the rights, privileges, protections, immunities and benefits afforded to the Trustee under the Indenture are deemed
to be incorporated herein, and shall be enforceable by the Trustee hereunder, in each of its capacities hereunder as if set forth
herein in full. For purposes of Section 14.01(b)(iv) of the Indenture, the Company and the Trustee acknowledge, as a result of
Section 2.02 above, the Notes may be surrendered for conversion pursuant to Section 14.01(b)(iv) of the Indenture and no further
notice or determination pursuant to Section 14.01(b)(iv) of the Indenture is required.

 

Section 4.06    Effect on Successors and Assigns.
Notwithstanding Section 17.09 of the Indenture, all agreements of the Company, the Trustee, the Note Registrar, the Paying Agent
and the Conversion Agent in this Supplemental Indenture will bind their respective successors.

 

Section 4.07    Headings, Etc. The titles
and headings of the articles and sections of this Supplemental Indenture have been inserted for convenience of reference only,
are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof.

 

[Signature Pages Follow]

 

    4

     

    

 

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

 

	 	THE MEDICINES COMPANY
	 	 	 
	 	By:	/s/ Stephen M. Rodin 
	 	 	Name:	Stephen M. Rodin
	 	 	Title:	Executive Vice President and General Counsel

 

[Signature Page to 2022 Notes Supplemental
Indenture]

 

     

     

    

 

	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION,

                                                                          as Trustee

 

	 	By:	/s/ Michael Q. Tu
	 	 	Name:	Michael Q. Tu
	 	 	Title:	Vice President

 

[Signature Page to 2022 Notes Supplemental
Indenture]Exhibit 4.2

 

FIRST SUPPLEMENTAL INDENTURE

 

FIRST SUPPLEMENTAL INDENTURE, dated as of
January 6, 2020 (this “Supplemental Indenture”), by and between THE MEDICINES COMPANY, a Delaware corporation,
as issuer (the “Company”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, as trustee (the “Trustee”),
supplements the Indenture, dated as of June 10, 2016 (the “Indenture”), between the Company and the Trustee.

 

RECITALS OF THE COMPANY

 

WHEREAS, pursuant to the Indenture, the
Company issued $402,500,000 aggregate principal amount of 2.75% Convertible Senior Notes due 2023 (the “Notes”);

 

WHEREAS, pursuant to the Agreement and Plan
of Merger (the “Merger Agreement”), dated as of November 23, 2019, among Novartis AG, a company organized under
the laws of Switzerland (“Parent”), Medusa Merger Corporation, a Delaware corporation and an indirect, wholly
owned subsidiary of Parent (“Merger Sub”), and the Company, Merger Sub has offered to purchase any and all outstanding
shares of Company Common Stock (as defined in the Merger Agreement) (“Common Stock”) at a price per share of
$85.00 in cash, without interest and subject to any withholding of taxes required by applicable law (the “Offer”);

 

WHEREAS, following the consummation of the
Offer, pursuant to the Merger Agreement, Merger Sub will merge with and into the Company, with the Company continuing as the surviving
corporation and an indirect, wholly owned subsidiary of Parent (the “Merger”);

 

WHEREAS, pursuant to the Merger Agreement,
at the Effective Time (as defined in the Merger Agreement) (the “Effective Time”), each share of Common Stock
outstanding immediately prior to the Effective Time (other than (i) shares of Common Stock that at the Effective Time are
owned by the Company, Parent, Merger Sub, any other subsidiary of Parent or any subsidiary of the Company or that are held in the
Company’s treasury and (ii) shares of Common Stock that are outstanding immediately prior to the Effective Time and that
are held by a Company stockholder who properly demands and perfects appraisal rights under Delaware law) will be converted into
the right to receive $85.00 in cash, without interest and subject to any withholding of taxes required by applicable law;

 

WHEREAS, pursuant to Section 14.07(a) of the
Indenture, the Merger constitutes a Share Exchange Event, and the Indenture provides the Company shall execute with the Trustee
a supplemental indenture providing that from and after the Effective Time the right to convert each $1,000 principal amount of
Notes shall be changed into a right to convert such principal amount of Notes into the units of Reference Property;

 

WHEREAS, pursuant to the terms of the Merger
Agreement and Section 14.07(a) of the Indenture, each unit of Reference Property consists of $85.00 in cash;

 

WHEREAS, Section 10.01(j) of the Indenture
provides that the Company and the Trustee may enter into a supplemental indenture, without prior notice to or the consent of the
Holders of any of the Notes at the time outstanding, in connection with any Share Exchange Event to provide that the Notes are
convertible into Reference Property, subject to the provisions of Section 14.02 of the Indenture, and to make related changes to
the terms of the Notes to the extent expressly required by the Indenture;

 

     

     

    

 

WHEREAS, the Board of Directors has duly adopted
resolutions authorizing the Company to execute and deliver this Supplemental Indenture;

 

WHEREAS, the Company has requested that the
Trustee execute and deliver this Supplemental Indenture and has delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel; and

 

WHEREAS, all conditions precedent provided
for in the Indenture relating to the execution of this Supplemental Indenture have been complied with.

 

NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE
WITNESSETH, for and in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby
acknowledged, the parties hereto mutually covenant and agree for the equal and proportionate benefit of the Holders as follows:

 

ARTICLE I

TERMS

 

Section 1.01    Definitions. Capitalized
terms used but not defined herein have the meanings ascribed to such terms in the Indenture.

 

ARTICLE II

AMENDMENTS

 

Section 2.01    Conversion Right. Pursuant
to Section 14.07(a) of the Indenture, from and after the Effective Time, the right to convert each $1,000 principal amount of Notes
shall be changed into a right to convert such principal amount of Notes solely into a number of units of Reference Property in
an aggregate amount equal to the Conversion Rate in effect on the Conversion Date (subject to any adjustments under Section 14.03
of the Indenture) multiplied by the Stock Price paid per share of Common Stock in the Merger, (A) which in the case of a
conversion in connection with a Make-Whole Fundamental Change as described in the second sentence of Section 14.03(a) will be cash
equal to $1,746.971 per $1,000 principal amount of Notes based on a Conversion Rate equal to (i) 20.4198 shares of Common Stock
per $1,000 principal amount of Notes plus (ii) the Additional Shares, or 0.1328 shares of Common Stock per $1,000 principal
amount of Notes (as determined by reference to the table set forth in Section 14.03(e) of the Indenture based on the Effective
Date of the Make-Whole Fundamental Change being January 6, 2020 and the Stock Price paid per share of Common Stock in the Make-Whole
Fundamental Change being $85.00), and (B) which in the case of a conversion at all other times when such Notes are convertible
beginning immediately after the Business Day immediately preceding the Fundamental Change Repurchase Date corresponding to such
Fundamental Change will be cash equal to $1,735.683 per $1,000 principal amount of Notes. Accordingly, any reference in respect
of the Holders’ conversion rights to a share of Common Stock in the Indenture shall be deemed a reference to a right to receive
an amount equal to $85.00 and the provisions of the Indenture, as modified herein, shall continue to apply, mutatis mutandis,
to the Holders’ right to convert the Notes into the Reference Property.

 

    2

     

    

 

Section 2.02.   Last Reported Sale Price
of the Common Stock. With respect to any date from and after the Effective Time, the Last Reported Sale Price shall be $85.00
on that date, notwithstanding anything to the contrary in the Indenture.

 

ARTICLE III

ACCEPTANCE OF SUPPLEMENTAL INDENTURE

 

Section 3.01    Trustee’s Acceptance.
The Trustee hereby accepts this Supplemental Indenture and agrees to perform the same under the terms and conditions set forth
in the Indenture.

 

ARTICLE IV

MISCELLANEOUS PROVISIONS

 

Section 4.01    Governing Law; Waiver of
Trial by Jury. THIS SUPPLEMENTAL INDENTURE AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS SUPPLEMENTAL
INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

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

 

Section 4.02    Benefits of Supplemental
Indenture. Nothing in this Supplemental Indenture, expressed or implied, shall give to any Person, other than the Holders,
the parties hereto, any Paying Agent, any Conversion Agent, any authenticating agent, any Note Registrar and their successors hereunder,
any benefit or any legal or equitable right, remedy or claim under this Supplemental Indenture.

 

Section 4.03    Execution in Counterparts.
This Supplemental Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts
shall together constitute but one and the same instrument. The exchange of copies of this Supplemental Indenture and of signature
pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the
parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties hereto
transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.

 

Section 4.04    Ratification of Indenture.
The Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental
Indenture shall be deemed part of the Indenture in the manner and to the extent herein provided.

 

    3

     

    

 

Section 4.05   The Trustee. The Trustee
makes no representations as to and shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency
of this Supplemental Indenture. The recitals in this Supplemental Indenture are made by the Company only and not by the Trustee,
and all of the rights, privileges, protections, immunities and benefits afforded to the Trustee under the Indenture are deemed
to be incorporated herein, and shall be enforceable by the Trustee hereunder, in each of its capacities hereunder as if set forth
herein in full. For purposes of Section 14.01(b)(iv) of the Indenture, the Company and the Trustee acknowledge, as a result of
Section 2.02 above, the Notes may be surrendered for conversion pursuant to Section 14.01(b)(iv) of the Indenture and no further
notice or determination pursuant to Section 14.01(b)(iv) of the Indenture is required.

 

Section 4.06    Effect on Successors and
Assigns. Notwithstanding Section 17.09 of the Indenture, all agreements of the Company, the Trustee, the Note Registrar, the
Paying Agent and the Conversion Agent in this Supplemental Indenture will bind their respective successors.

 

Section 4.07    Headings, Etc. The
titles and headings of the articles and sections of this Supplemental Indenture have been inserted for convenience of reference
only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof.

 

[Signature Pages Follow]

 

    4

     

    

 

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

 

	 	THE MEDICINES COMPANY
	 	 	 
	 	By:	/s/ Stephen M. Rodin
	 		Name:   Stephen M. Rodin
	 		Title:     Executive Vice President and General Counsel

 

[Signature Page
to 2023 Notes Supplemental Indenture]

 

     

     

    

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Trustee
	 	 	 
	 	By:	/s/ Michael Q. Tu
	 		Name:   Michael Q. Tu
	 		Title:     Vice President

 

[Signature Page
to 2023 Notes Supplemental Indenture]

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