Document:

Amended and Restated 2001 Non-employee Director Stock Option Plan

 Exhibit 10.3 
 INSIGHTFUL CORPORATION 
 AMENDED AND RESTATED 
 2001 NON-EMPLOYEE DIRECTOR STOCK OPTION PLAN 
 1. Purpose. This Non-Qualified Stock Option Plan is known as the Amended and Restated 2001 Non-Employee Director Stock Option Plan (the “Plan”) and is intended to promote the interests of Insightful Corporation (the
“Company”) by providing an inducement to obtain and retain the services of qualified persons who are not employees or officers of the Company to serve as members of its Board of Directors (the “Board”). The Plan was originally
adopted by the Board on January 16, 2002, and effective March 16, 2007 is hereby amended and restated in its entirety. 
 2.
Available Shares. The total number of shares of common stock, par value $.01 per share, of the Company (the “Common Stock”) for which options may be granted under this Plan shall not exceed 1,000,000 shares, subject to
adjustment in accordance with Section 10 of this Plan. Shares subject to this Plan are authorized but unissued shares or shares that were once issued and subsequently reacquired by the Company. If any options granted under this Plan are
surrendered before exercise or lapse without exercise, in whole or in part, the shares reserved therefor shall continue to be available under this Plan. 
 3. Administration. This Plan shall be administered by the Board or by a committee appointed by the Board (the “Committee”). In the event the Board fails to appoint or refrains from appointing a
Committee, the Board shall have all power and authority to administer this Plan. In such event, the word “Committee” wherever used herein shall be deemed to mean the Board. The Committee shall, subject to the provisions of the Plan, have
the power to construe this Plan, to determine all questions hereunder, and to adopt and amend such rules and regulations for the administration of this Plan as it may deem desirable. No member of the Board or the Committee shall be liable for any
action or determination made in good faith with respect to this Plan or any option granted under it. 
 4. Automatic Grant of
Options. Subject to the availability of shares of Common Stock under the Plan: 
 (a) Initial Grants. Each person who first becomes a member of the Board after March 16, 2007 and who is not an employee or officer of the Company (a “Non-Employee Director”) shall receive, on the date the Non-Employee
Director becomes a member of the Board, a grant of an option (the “Initial Grant”) to purchase a number of shares of Common Stock equal to the sum of (i) 15,000 plus (ii) 15,000 divided by twelve (12) multiplied by the full
number of months between the date on which such Non-Employee Director became a member of the Board and the next March 16th; provided that if such number is a fraction, it shall be rounded up to the next highest whole number. 
 (b) Annual Options. Effective March 16, 2007 and each March 16th thereafter, each Non-Employee Director who is a Non-Employee Director on the applicable March 16th and who was also a Non-Employee Director on the immediately preceding March 15th shall receive a grant of an option (the “Annual Grant”) to purchase 15,000 shares of Common Stock. 
 (c) Grant Dates. For purposes of this Plan, the “Grant Date” for an Initial Grant
means the date on which the individual is first elected or appointed to the Board and receives a grant pursuant to Section 4(a) of this Plan; and the “Grant Date” for an Annual Grant means the applicable March 16th on which the Annual Grant is made pursuant to Section 4(b) of this Plan. Grants made pursuant to this Plan shall, subject
to the availability of shares under the Plan, occur automatically without further action by the Board. 

 5. Option Price. The purchase price of the stock covered by an option granted pursuant to
this Plan shall be 100% of the fair market value of such shares on the Grant Date (or, if the Grant Date is not a trading day, on the trading day immediately preceding the Grant Date). The option price will be subject to adjustment in accordance
with the provisions of Section 10 of this Plan. For purposes of this Plan, if, at the time an option is granted under the Plan, the Company’s Common Stock is publicly traded, “fair market value” shall mean (i) the average
(on that date) of the high and low prices of the Common Stock on the principal national securities exchange on which the Common Stock is traded, if the Common Stock is then traded on a national securities exchange; or (ii) the last reported
sale price (on that date) of the Common Stock on the Nasdaq National or Small Cap Market, if the Common Stock is then traded on the Nasdaq National or Small Cap Market; or (iii) the closing bid price (or average of bid prices) last quoted (on
that date) by an established quotation service for over-the-counter securities, if the Common Stock is not traded on the Nasdaq National or Small Cap Market or a national securities exchange. If the Common Stock is not publicly traded at the time an
option is granted under the Plan, “fair market value” shall be deemed to be the fair value of the Common Stock as determined by the Committee after taking into consideration all factors which it deems appropriate. 
 6. Period of Option. Unless sooner terminated in accordance with the provisions of Section 8 of this Plan or the terms of the
agreement relating to an option, an option granted hereunder shall expire on the date which is ten (10) years after the date of grant of the option. 
 7. Vesting of Shares, Non-Transferability of Options and Non-Statutory Stock Options. 
 (a)
Vesting. All options granted under this Plan shall not be exercisable until they become vested. Options granted under this Plan shall vest in the optionee in accordance with the following vesting schedule based on the applicable Grant Date;
provided, however, that if such vesting percentage results in a fractional share, the percentage of shares of Common Stock that are vested and exercisable shall be rounded down to the nearest whole number: 
  

				
	 Date
	  	Vested Percentage of
Option	 
	 3-month anniversary of Grant Date
	  	25	%
	 6-month anniversary of Grant Date
	  	50	%
	 9-month anniversary of Grant Date
	  	75	%
	 1-year anniversary of Grant Date
	  	100	%

 (b) Transferability. Any option granted pursuant to this Plan shall be assignable or
transferable by will, the laws of descent and distribution, pursuant to a domestic relations order or in accordance with the terms of the optionee’s option agreement and only in compliance with the provisions of the Securities Act of 1933, as
amended (the “Securities Act”). 
 (c) Options granted under the Plan are not intended to be “incentive stock options” as
defined in Section 422 of the Internal Revenue Code of 1986, as amended. 
  

 2 

 8. Termination of Option Rights. 
 (a) Except as otherwise specified in the agreement relating to an option, in the event an optionee ceases to be a member of the Board for any reason
other than death or permanent disability, any then unexercised portion of options granted to such optionee shall, to the extent not then vested, immediately terminate and become void; any portion of an option which is then vested but has not been
exercised at the time the optionee so ceases to be a member of the Board may be exercised, to the extent it is then vested, by the optionee at any time prior to the earlier of the scheduled expiration date of the option or six (6) months from
the date the optionee ceases to be a member of the Board. 
 (b) In the event that an optionee ceases to be a member of the Board by reason
of his or her death or permanent disability, any option granted to such optionee shall be immediately and automatically accelerated and become fully vested. All unexercised options that are then exercisable (including those options which become
exercisable pursuant to the first sentence of this Section 8(b)) but have not been exercised at the time the optionee so ceases to be a member of the Board of Directors may be exercised, to the extent any portion of such options are then
exercisable, by the optionee (or by the optionee’s personal representative, heir or legatee, in the event of death) until the scheduled expiration date of the option. 
 (c) No portion of an option may be exercised if the optionee is removed or resigns from the Board of Directors for any one of the following reasons:
(i) disloyalty, gross negligence, willful misconduct, dishonesty or breach of fiduciary duty to the Company; or (ii) the commission of an act of embezzlement, fraud or deliberate disregard of the rules or policies of the Company that
results in or is likely to result in loss, damage or injury to the Company, whether directly or indirectly; or (iii) the unauthorized disclosure of any trade secret or confidential information of the Company; or (iv) the commission of an
act that constitutes unfair competition with the Company or that induces any customer of the Company to break a contract with the Company; or (v) the conduct of any activity on behalf of any organization or entity that is a competitor of the
Company (unless such conduct is approved by a majority of the members of the Board of Directors). 
 9. Exercise of Option.
Subject to the terms and conditions of this Plan and the option agreements, an option granted hereunder shall, to the extent then exercisable, be exercisable in whole or in part (but not for a fraction of a share) by giving written notice to the
Company by mail, facsimile or in person addressed to Insightful Corporation, at its principal executive offices, stating the number of shares with respect to which the option is being exercised, accompanied by payment in full for such shares. In the
event this option is exercised by any person(s) other than the optionee pursuant to Section 8(b) hereof, the notice shall be accompanied by appropriate proof of the right of such person or persons to exercise this option. The aggregate purchase
price shall be paid by one or any combination of the following forms of payment: 
 (a) by cash, check or money order; or 
 (b) if the Common Stock is then traded on the Nasdaq National Market or other national securities exchange (or successor trading system), delivery of an
irrevocable and unconditional undertaking by a creditworthy broker, satisfactory in form and substance to the Company, to deliver promptly to the Company sufficient funds to pay the aggregate purchase price, or delivery to the Company of a copy of
irrevocable and unconditional instructions to a creditworthy broker, satisfactory in form and substance to the Company, to sell shares of Common Stock purchasable upon exercise of the option and deliver promptly to the Company all or part of the
sales proceeds in payment of the aggregate purchase price; or 
  

 3 

 (c) if approved by the Company in its sole discretion, if the Common Stock is then traded on the Nasdaq
National Market or other national securities exchange, by delivery of a number of shares of Common Stock having a fair market value equal as of the date of exercise to the aggregate purchase price; provided, however, to the extent that the optionee
delivers Common Stock held by the optionee (“Old Stock”) to the Company in full or partial payment of the purchase price and the Old Stock so delivered is subject to restrictions or limitations imposed by agreement between the optionee and
the Company, an equivalent number of shares purchased through the exercise of the option shall be subject to all restrictions and limitations applicable to the Old Stock, in addition to any restrictions or limitations imposed by this Agreement.
Notwithstanding the foregoing, the optionee may not pay any part of the purchase price of the option by transferring Common Stock to the Company unless such Common Stock has been owned by the optionee free of any substantial risk of forfeiture for
at least six (6) months. 
 The Company’s transfer agent shall, on behalf of the Company, prepare a certificate or certificates representing such
shares acquired pursuant to exercise of the option and shall register the optionee as the owner of such shares on the books of the Company. The shares issued upon exercise of this option shall be registered in the name of the person(s) exercising
this option (or, if this option is exercised by the optionee and the optionee so requests in the notice exercising this option, shall be registered in the name of the optionee and another person jointly, with right of survivorship). The holder of an
option shall not have any rights of a stockholder with respect to the shares covered by the option, except to the extent that one or more certificates for such shares shall be delivered to him or her upon the due exercise of the option. 

10. Adjustments Upon Changes in Capitalization and Other Events. Upon the occurrence of any of the following events, an optionee’s
rights with respect to options granted to him or her hereunder shall be adjusted as hereinafter provided: 
 (a) Stock Dividends and Stock
Splits. If the shares of Common Stock shall be subdivided or combined into a greater or smaller number of shares or if the Company shall issue any shares of Common Stock as a stock dividend on its outstanding Common Stock, the number of shares
of Common Stock deliverable upon the exercise of options shall be appropriately increased or decreased proportionately, and appropriate adjustments shall be made in the purchase price per share to reflect such subdivision, combination or stock
dividend. 
 (b) Recapitalization Adjustments. Immediately upon the consummation of an Acquisition, all outstanding options under this
Plan shall remain the obligation of the Company or be assumed by the surviving or acquiring entity, and there shall automatically be a substitute for the shares of Common Stock subject to the options the consideration payable with respect to the
Outstanding Shares of Common Stock in connection with the Acquisition. In the event of a reorganization, recapitalization, merger, consolidation, or any other change in the corporate structure or shares of the Company, to the extent permitted by
Rule 16b-3 under the Securities Exchange Act of 1934, adjustments in the number and kind of shares authorized by this Plan and in the number and kind of shares covered by, and in the option price of outstanding options under this Plan necessary
to maintain the proportionate interest of the optionee and preserve, without exceeding, the value of such option, shall be made if, and in the same manner as, such adjustments are made to options issued under the Company’s other stock option
plans. Notwithstanding the foregoing, no such adjustment shall be made which would, within the meaning of any applicable provisions of the Internal Revenue Code of 1986, as amended, constitute a modification, extension or renewal of any option or a
grant of additional benefits to the holder of an option and which would cause the option to be subject to Section 409A of the Internal Revenue Code of 1986. For purposes of this Section, an “Acquisition” shall
mean: (x) any merger, consolidation or purchase of outstanding capital stock of the Company, or other form of business combination in which the Company 

  

 4 

 
is the target of such combination or after which the voting securities of the Company outstanding immediately prior thereto represent (either by remaining
outstanding or by being converted into voting securities of the surviving or acquiring entity) less than 50% of the combined voting power of the voting securities of the Company or such surviving or acquiring entity outstanding immediately after
such event (other than as a result of a financing transaction); or (y) any sale of all or substantially all of the capital stock or assets of the Company in a business combination (other than in a spin-off or similar transaction). 

(c) Issuances of Securities. Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or securities
convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares subject to options. No adjustments shall be made for dividends paid in cash or in property
other than securities of the Company. 
 (d) Adjustments. Upon the happening of any of the foregoing events, the class and aggregate
number of shares set forth in Section 2 of this Plan that are subject to options which previously have been or subsequently may be granted under this Plan shall also be appropriately adjusted to reflect such events. The Board shall determine
the specific adjustments to be made under this Section 10 of this Plan and its determination shall be conclusive. 
 11.
Restrictions on Issuance of Shares. Notwithstanding the provisions of Sections 4 and 9 of this Plan, the Company shall have no obligation to deliver any certificate or certificates upon exercise of an option until one of the
following conditions shall be satisfied: 
 (a) The issuance of shares with respect to which the option has been exercised is at the time of
the issue of such shares effectively registered under applicable federal and state securities laws as now in force or hereafter amended; or 
 (b) Counsel for the Company shall have given an opinion that the issuance of such shares is exempt from registration under federal and state securities laws as now in force or hereafter amended; and the Company has complied with all
applicable laws and regulations with respect thereto, including without limitation all regulations required by any stock exchange upon which the Company’s outstanding Common Stock is then listed. 
 12. Legend on Certificates. The certificates representing shares issued pursuant to the exercise of an option granted hereunder shall carry
such appropriate legend, and such written instructions shall be given to the Company’s transfer agent, as may be deemed necessary or advisable by counsel to the Company in order to comply with the requirements of the Securities Act, as amended,
or any state securities laws. 
 13. Representation of Optionee. If requested by the Company, the optionee shall deliver to the
Company written representations and warranties upon exercise of the option that are necessary to show compliance with federal and state securities laws, including representations and warranties to the effect that a purchase of shares under the
option is made for investment and not with a view to their distribution (as that term is used in the Securities Act) of 1933, as amended. 
 14. Option Agreement. Each option granted under the provisions of this Plan shall be evidenced by an option agreement, which agreement shall be duly executed and delivered on behalf of the Company and by the optionee to whom
such option is granted. The option agreement shall contain such terms, provisions and conditions not inconsistent with this Plan as may be determined by the officer executing it. 
  

 5 

 15. Termination and Amendment of Plan. Options may no longer be granted under this Plan
after April 16, 2012. In addition, this Plan shall terminate earlier than April 16, 2012 when all options granted or to be granted hereunder are no longer outstanding. Notwithstanding the foregoing, the Board may at any time terminate this
Plan or make such modification or amendment thereof as it deems advisable; provided, however, that the Board may not, without approval by the affirmative vote of the holders of a majority of the shares of Common Stock present in person
or by proxy and voting on such matter at a meeting, (a) increase the maximum number of shares for which options may be granted under this Plan (except by adjustment pursuant to Section 10 of this Plan), (b) materially modify the
requirements as to eligibility to participate in this Plan, or (c) materially increase benefits accruing to option holders under this Plan. Termination or any modification or amendment of this Plan shall not, without consent of a participant,
affect his or her rights under an option previously granted to him or her. 
 16. Withholding of Income Taxes. Each optionee
shall pay to the Company, or make provisions satisfactory to the Company for payment of, any taxes required by law to be withheld in connection with grants to such optionee no later than the date of the event creating the tax liability. The Company
may, to the extent permitted by law, deduct any such tax obligations from any payment of any kind otherwise due to an optionee. The Board may permit an optionee to satisfy all or part of his or her tax withholding obligations by surrendering shares
of Common Stock (either directly or by stock attestation) that he or she previously acquired; provided that, unless the shares of Common Stock tendered for payment have been previously held for a minimum duration (e.g., to avoid financial accounting
charges to the Company’s earnings), or as otherwise permitted to avoid financial accounting charges under applicable accounting guidance, amounts withheld shall not exceed the amount necessary to satisfy the Company’s tax withholding
obligations at the minimum statutory withholding rates, including, but not limited to, U.S. federal and state income taxes, payroll taxes, and foreign taxes, if applicable. Any payment of taxes by surrendering shares of Common Stock to the Company
may be subject to restrictions, including, but not limited to, any restrictions required by rules of the Securities and Exchange Commission. 
 17. Compliance with Regulations. It is the Company’s intent that this Plan comply in all respects with Rule 16b-3 (or any successor or amended provision thereof) and any applicable Securities and Exchange Commission
interpretations thereof. If any provision of this Plan is deemed not to be in compliance with Rule 16b-3, the provision shall be null and void or amended by the Board of Directors to ensure proper compliance. 
 18. Governing Law. The validity and construction of this Plan and the instruments evidencing options shall be governed by the laws of the
State of Delaware, without giving effect to the principles of conflicts of law thereof. 
 Adopted by the Board of Directors on: 

January 16, 2002 
 Approved by the
stockholders on: 
 April 17, 2002 
 Amended and Restated by the Board of Directors on: 
 March 16, 2007 
  

 6Indenture dated as of March 30, 2007

 Exhibit 4.4 
  

 EQUINIX, INC. 
 2.50% CONVERTIBLE SUBORDINATED NOTES 
 DUE APRIL 15, 2012 
  

 INDENTURE 
 DATED AS OF MARCH 30, 2007 
  

 U.S. BANK NATIONAL ASSOCIATION 
 AS TRUSTEE 
  

 TABLE OF CONTENTS 
  

  

			
	 	  	Page
	ARTICLE 1
	DEFINITIONS AND INCORPORATION BY REFERENCE
		
	 Section 1.01. Definitions.
	  	1
	 Section 1.02. Other Definitions.
	  	10
	 Section 1.03. Trust Indenture Act Provisions
	  	12
	 Section 1.04. Rules of Construction
	  	12
	
	ARTICLE 2
	THE SECURITIES
		
	 Section 2.01. Form and Dating.
	  	13
	 Section 2.02. Execution and Authentication
	  	15
	 Section 2.03. Registrar, Paying Agent and Conversion Agent
	  	16
	 Section 2.04. Paying Agent to Hold Money in Trust
	  	17
	 Section 2.05. Securityholder Lists
	  	17
	 Section 2.06. Transfer and Exchange.
	  	17
	 Section 2.07. Replacement Securities
	  	19
	 Section 2.08. Outstanding Securities
	  	19
	 Section 2.09. Treasury Securities
	  	20
	 Section 2.10. Temporary Securities
	  	20
	 Section 2.11. Cancellation
	  	21
	 Section 2.12. Additional Transfer and Exchange Requirements.
	  	21
	 Section 2.13. CUSIP Numbers
	  	23
	 Section 2.14. Repurchases
	  	24
	
	ARTICLE 3
	REDEMPTION AND PURCHASES
		
	 Section 3.01. Optional Redemption
	  	24
	 Section 3.02. Right to Redeem; Notice to Trustee
	  	24
	 Section 3.03. Selection of Securities to Be Redeemed
	  	24
	 Section 3.04. Notice of Redemption
	  	25
	 Section 3.05. Effect of Notice of Redemption
	  	26
	 Section 3.06. Deposit of Redemption Price
	  	26
	 Section 3.07. Securities Redeemed in Part
	  	26
	 Section 3.08. Repurchase at Option of the Holder upon a Fundamental Change.
	  	27
	 Section 3.09. Compliance with Securities Laws upon Purchase of Securities
	  	28
	 Section 3.10. Repayment to the Company
	  	28

  

 i 

			
	ARTICLE 4
	CONVERSION
		
	 Section 4.01. Right to Convert
	  	29
	 Section 4.02. Conversion Rate
	  	31
	 Section 4.03. Conversion Procedures
	  	31
	 Section 4.04. Payment upon Conversion
	  	33
	 Section 4.05. Exchange in Lieu of Conversion.
	  	35
	 Section 4.06. Cash Payments in Lieu of Fractional Shares
	  	36
	 Section 4.07. Adjustment of Conversion Rate
	  	36
	 Section 4.08. Make-Whole Adjustment
	  	45
	 Section 4.09. Notice of Adjustment in Conversion Rate
	  	48
	 Section 4.10. Effect of Reclassification, Consolidation, Merger or Sale
	  	49
	 Section 4.11. Taxes on Shares Issued
	  	49
	 Section 4.12. Reservation of Shares, Shares; Listing and Compliance
	  	50
	 Section 4.13. Responsibility of Trustee
	  	50
	
	ARTICLE 5
	SUBORDINATION
		
	 Section 5.01. Securities Subordinated to Senior Indebtedness
	  	51
	 Section 5.02. Liquidation; Dissolution; Bankruptcy
	  	51
	 Section 5.03. Default on Senior Indebtedness and Designated Senior Indebtedness.
	  	52
	 Section 5.04. Acceleration of Securities
	  	53
	 Section 5.05. When Distribution Must Be Paid Over
	  	53
	 Section 5.06. Notice by Company
	  	53
	 Section 5.07. Subrogation
	  	54
	 Section 5.08. Relative Rights
	  	54
	 Section 5.09. Subordination May Not Be Impaired by Company
	  	54
	 Section 5.10. Distribution or Notice to Representative
	  	54
	 Section 5.11. Rights of Trustee and Paying Agent
	  	55
	 Section 5.12. Authorization to Effect Subordination
	  	55
	 Section 5.13. Amendments
	  	55
	 Section 5.14. Agreement to Subordinate Unaffected
	  	55
	 Section 5.15. Certain Conversions Deemed Payment
	  	56
	
	ARTICLE 6
	COVENANTS
		
	 Section 6.01. Payment of Securities
	  	56
	 Section 6.02. Reports
	  	57
	 Section 6.03. Compliance Certificates.
	  	57

  

 ii 

			
	 Section 6.04. Further Instruments and Acts
	  	58
	 Section 6.05. Maintenance of Corporate Existence
	  	58
	 Section 6.06. Stay, Extension and Usury Laws
	  	58
	ARTICLE 7
	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
		
	 Section 7.01. Company May Consolidate, etc., on Certain Terms
	  	58
	 Section 7.02. Successor Substituted
	  	59
	
	ARTICLE 8
	DEFAULT AND REMEDIES
		
	 Section 8.01. Events of Default
	  	59
	 Section 8.02. Acceleration
	  	61
	 Section 8.03. Other Remedies
	  	62
	 Section 8.04. Waiver of Defaults and Events of Default
	  	63
	 Section 8.05. Control by Majority
	  	63
	 Section 8.06. Limitations on Suits
	  	63
	 Section 8.07. Rights of Holders to Receive Payment and to Convert
	  	64
	 Section 8.08. Collection Suit by Trustee
	  	64
	 Section 8.09. Trustee May File Proofs of Claim
	  	64
	 Section 8.10. Priorities
	  	65
	 Section 8.11. Undertaking for Costs
	  	65
	
	ARTICLE 9
	TRUSTEE
		
	 Section 9.01. Duties of Trustee.
	  	66
	 Section 9.02. Rights of Trustee
	  	67
	 Section 9.03. Individual Rights of Trustee
	  	68
	 Section 9.04. Trustee’s Disclaimer
	  	68
	 Section 9.05. Notice of Default or Events of Default
	  	69
	 Section 9.06. Reports by Trustee to Holders
	  	69
	 Section 9.07. Compensation and Indemnity
	  	69
	 Section 9.08. Replacement of Trustee
	  	70
	 Section 9.09. Successor Trustee by Merger, etc
	  	71
	 Section 9.10. Eligibility; Disqualification
	  	72
	 Section 9.11. Preferential Collection of Claims Against Company
	  	72
	
	ARTICLE 10
	SATISFACTION AND DISCHARGE OF INDENTURE
		
	 Section 10.01. Satisfaction and Discharge of Indenture
	  	72
	 Section 10.02. Application of Trust Money
	  	73

  

 iii 

			
	 Section 10.03. Repayment to Company
	  	73
	 Section 10.04. Reinstatement
	  	74
	
	ARTICLE 11
	AMENDMENTS, SUPPLEMENTS AND WAIVERS
		
	 Section 11.01. Without Consent of Holders
	  	74
	 Section 11.02. With Consent of Holders
	  	75
	 Section 11.03. Compliance with Trust Indenture Act
	  	77
	 Section 11.04. Revocation and Effect of Consents
	  	77
	 Section 11.05. Notation on or Exchange of Securities
	  	77
	 Section 11.06. Trustee to Sign Amendments, etc.
	  	77
	 Section 11.07. Effect of Supplemental Indentures
	  	78
	
	ARTICLE 12
	MISCELLANEOUS
		
	 Section 12.01. Trust Indenture Act Controls
	  	78
	 Section 12.02. Notices
	  	78
	 Section 12.03. Communications by Holders with Other Holders
	  	79
	 Section 12.04. Certificate and Opinion as to Conditions Precedent.
	  	79
	 Section 12.05. Record Date for Vote or Consent of Securityholders
	  	80
	 Section 12.06. Rules by Trustee, Paying Agent, Registrar and Conversion Agent
	  	81
	 Section 12.07. Legal Holidays
	  	81
	 Section 12.08. Governing Law
	  	81
	 Section 12.09. No Adverse Interpretation of Other Agreements
	  	81
	 Section 12.10. No Personal Liability of Directors, Officers, Employees or Stockholders
	  	81
	 Section 12.11. Successors
	  	81
	 Section 12.12. Multiple Counterparts
	  	81
	 Section 12.13. Reparability
	  	81
	 Section 12.14. Table of Contents, Headings, etc
	  	82
	 Section 12.15. Force Majeure
	  	82
	 Section 12.16. Waiver of Jury Trial
	  	82

  

 iv 

 INDENTURE, dated as of March 30, 2007, between EQUINIX, INC., a Delaware corporation (the
“Company”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as Trustee (the “Trustee”). 
 The Company and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders of the Company’s 2.50% Convertible Subordinated Notes due April 15, 2012. 
 ARTICLE 1 
 DEFINITIONS
AND INCORPORATION BY REFERENCE 
 Section 1.01. Definitions. 

“Affiliate” means, with respect to any specified person, any other person directly or indirectly controlling or controlled by or
under direct or indirect common control with such specified person. For the purposes of this definition, “control”, when used with respect to any person, means the power to direct the management and policies of such person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 
 “Agent” means any Registrar, Paying Agent or Conversion Agent. 
 “Applicable Conversion Price” means, at the time any determination thereof is to be made, $1,000 divided by the Applicable Conversion
Rate, rounded to the nearest 1/10th of a cent. 
 “Applicable Conversion Rate” means, at the time any determination thereof
is to be made, the Conversion Rate as adjusted from time to time pursuant to Article 4, rounded to the nearest 1/1,000th of a share. 
 “Applicable Procedures” means, with respect to any transfer or exchange of beneficial ownership interests in a Global Security, the rules and procedures of the Depositary, in each case to the extent applicable to such
transfer or exchange. 
 “Board of Directors” means either the board of directors of the Company or any committee of the
Board of Directors authorized to act for it with respect to this Indenture. 
 “Business Day” means any day other than a
Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required to close. 

 “Capital Stock” means (a) in the case of a corporation, corporate stock,
(b) in the case of an association or business entity, shares, interests, participations, rights or other equivalents (however designated) of corporate stock, (c) in the case of a partnership or limited liability company, partnership or
membership interests (whether general or limited) and (d) any other interest or participation that confers on a person the right to receive a share of the profits and losses of, or distribution of the assets of, the issuing person. 

“Cash” or “cash” means such coin or currency of the United States as at any time of payment is legal tender for the
payment of public and private debts. 
 “Certificated Security” means a Security that is in substantially the form attached
hereto as Exhibit A and that does not include the information or the Schedule called for by footnotes 1 and 2 thereof. 
 “Change of Control” means the occurrence of any of the following at a time after the Securities are originally issued: 
 (a) a “person or “group” within the meaning of Section 13(d) of the Exchange Act other than the Company, its Subsidiaries or employee benefit plans of the Company or any of its Subsidiaries, becomes the direct or
indirect ultimate “beneficial owner”, as defined in Rule 13d-3 under the Exchange Act, of the Company’s common equity representing more than 50% of the voting power of the Company’s common equity and either (i) files a
Schedule 13D or Schedule TO, or any successor schedule, form or report under the Exchange Act, disclosing the same or (ii) the Company otherwise becomes aware of any such person or group; 
 (b) consummation of any share exchange, consolidation or merger of the Company pursuant to which the Common Stock will be converted into cash, securities
or other property or any sale, lease or other transfer in one transaction or a series of transactions of all or substantially all of the consolidated assets of the Company and its Subsidiaries, taken as a whole, to any person other than one of the
Company’s wholly-owned Subsidiaries; provided, however, that a transaction described in this clause (b) will be deemed not to be a Change of Control so long as such transaction (i) both (A) does not result in any
reclassification, conversion, exchange or cancellation of outstanding shares of the Company’s voting stock and (B) the persons that “beneficially owned” directly or indirectly, the shares of the Company’s voting stock
immediately prior to such transaction beneficially own, directly or indirectly, shares of voting stock representing a majority of the total voting power of all outstanding classes of voting stock of the surviving or transferee person or (ii) is
effected solely for the purpose of changing the Company’s jurisdiction of incorporation and resulting in a reclassification, conversion or exchange of outstanding shares of capital stock, if at all, solely into shares of the surviving entity or
a direct or indirect parent of the surviving entity; or 
  

 2 

 (c) the stockholders of the Company approve any plan or proposal for the liquidation or dissolution of
the Company. 
 A change of control will not be deemed to have occurred pursuant to clause (b) above, however, if at least 95% of the consideration,
excluding cash payments for fractional shares, in the transaction or transactions that would otherwise constitute a Change of Control consists of shares of common stock that are traded on, or immediately after the transaction or event will be traded
on, the NASDAQ Global Select Market, the NASDAQ Global Market or the New York Stock Exchange (these securities are referred to herein as “publicly traded securities”), and as a result of such transaction or transactions the
notes become convertible into such publicly traded securities. 
 “Close of Business” means 5:00 p.m. New York
City time. 
 “Common Stock” means the common stock of the Company, $0.001 par value per share, as it exists on the date of
this Indenture, and any shares of any class or classes of capital stock of the Company resulting from any reclassification or reclassifications thereof and which have no preference in respect of dividends or of amounts payable in the event of any
voluntary or involuntary liquidation, dissolution or winding-up of the Company and which are not subject to redemption by the Company; provided, however, that if at any time there shall be more than one such resulting class, the shares
of each such class then so issuable on conversion of Securities shall be substantially in the proportion which the total number of shares of such class resulting from all such reclassifications bears to the total number of shares of all such classes
resulting from all such reclassifications. 
 “Company” means the party named as such in the first paragraph of this
Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Company. 
 “Conversion Value” means the average of the products for each Trading Day of the Cash Settlement Averaging Period of (a) the
Applicable Conversion Rate on such day and (b) the Volume Weighted Average Price per share of the Common Stock on such day. 
 “Corporate Trust Office” means the office of the Trustee at the address specified in Section 12.02 hereof or such other address as to which the Trustee may give notice to the Company. 
  

 3 

 “Current Market Price” of the Common Stock on any day means the average Sale Price of a
share of Common Stock over the 10 consecutive Trading Days ending on and including the earlier of the day in question and the day before the Ex Date with respect to an issuance, dividend or distribution requiring such computation. 

“Daily Share Amount” means for each Trading Day of the Cash Settlement Averaging Period and each $1,000 principal amount of
Securities surrendered for conversion, a number of shares (but in no event less than zero) determined by the following formula: 
  

	
	 (Volume Weighted Average Price per share for such
Trading Day × Applicable Conversion Rate for such Trading Day) - $1,000

	Volume Weighted Average price per share for such Trading Day × 10

 “Default” or “default” means, when used with respect to the
Securities, any event which is or, after notice or passage of time or both, would be an Event of Default. 
 “Designated Senior
Indebtedness” means the Company’s Senior Indebtedness which, on the date of a payment event of default or the delivery of a Payment Blockage Notice, has an aggregate amount outstanding of, or under which, on such date, the holders
thereof are committed to lend up to, at least $5.0 million and is specifically designated in the instrument evidencing or governing that Senior Indebtedness as “Designated Senior Indebtedness” for purposes hereof, provided,
however, that such instrument may place limitations and conditions on the right of such Senior Indebtedness to exercise the rights of Designated Senior Indebtedness. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder, as in effect
from time to time. 
 “Ex Date” means the first date on which shares of Common Stock trade on the applicable exchange
or in the applicable market, regular way, without the right to receive an issuance, dividend or distribution. 
 “Ex-Dividend
Date” means the first date upon which a sale of shares of Common Stock does not automatically transfer the right to receive the relevant distribution from the seller of shares of Common Stock to its buyer. 
 “Final Maturity Date” means April 15, 2012. 
 “Fundamental Change” means the occurrence of a Change of Control or a Termination of Trading at a time after the Securities are originally issued. 
  

 4 

 “Fundamental Change Repurchase Date” means the date specified as such in the Fundamental
Change Repurchase Notice delivered to Holders pursuant to Section 3.08(b) hereof. 
 “GAAP” means generally accepted
accounting principles in the United States of America as in effect as of the date of this Indenture, including those set forth in (1) the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified
Public Accountants, (2) the statements and pronouncements of the Financial Accounting Standards Board, (3) such other statements by such other entity as approved by a significant segment of the accounting profession and (4) the rules
and regulations of the SEC governing the inclusion of financial statements (including pro forma financial statements) in registration statements filed under the Securities Act and periodic reports required to be filed pursuant to Section 13 of
the Exchange Act, including opinions and pronouncements in staff accounting bulletins and similar written statements from the accounting staff of the SEC. 
 “Global Security” means a permanent Global Security that is in substantially the form attached hereto as Exhibit A and that includes the information and the Schedule called for by
footnotes 1 and 2 thereof and that is deposited with the Depositary or its custodian and registered in the name of the Depositary or its nominee. 
 “Holder” or “Securityholder” means the person in whose name a Security is registered on the Primary Registrar’s books. 
 “Indebtedness” means, with respect to any Person, without duplication, (a) all indebtedness, obligations and other liabilities
(contingent or otherwise) of such Person for borrowed money (including obligations of such Person in respect of overdrafts, foreign exchange contracts, currency exchange agreements, interest rate protection agreements, and any loans or advances from
banks, whether or not evidenced by notes or similar instruments) or evidenced by credit or loan agreements, bonds, debentures, notes or other written obligations (whether or not the recourse of the lender is to the whole of the assets of such Person
or to only a portion thereof) (other than any accounts payable or other accrued current liability or obligation incurred in the ordinary course of business in connection with the obtaining of materials or services), (b) all reimbursement
obligations and other liabilities (contingent or otherwise) of such Person with respect to letters of credit, bank guarantees or bankers’ acceptances, (c) all obligations and liabilities (contingent or otherwise) of such Person in respect
of leases of such Person required, in conformity with GAAP, to be accounted for as capitalized lease obligations on the balance sheet of such Person, (d) all obligations of such Person evidenced by a note or similar instrument given in
connection with the acquisition of any business, properties or assets of any kinds, (e) all obligations of such Person issued or assumed as the deferred purchase price of property or services 

  

 5 

 
(excluding trade accounts payable and accrued liabilities arising in the ordinary course of business), (f) all obligations and other liabilities
(contingent or otherwise) of such Person under any lease or related document (including a purchase agreement) in connection with the lease of real property or improvements (or any personal property included as part of any such lease) that provides
that such Person is contractually obligated to purchase or cause a third party to purchase the leased property and thereby guarantee a minimum residual value of the leased property to the lessor and the obligations of such Person under such lease or
related document to purchase or to cause a third party to purchase such leased property (whether or not such lease transaction is characterized as an operating lease or a capitalized lease in accordance with GAAP), (g) all obligations
(contingent or otherwise) of such Person with respect to any interest rate, currency or other swap, cap, floor or collar agreement, hedge agreement, forward contract, or other similar instrument or agreement or foreign currency hedge, exchange,
purchase or similar instrument or agreement, (h) all direct or indirect guarantees, agreements to be jointly liable or similar agreements by such Person in respect of, and obligations or liabilities (contingent or otherwise) of such Person to
purchase or otherwise acquire or otherwise assure a creditor against loss in respect of, indebtedness, obligations or liabilities of another Person of the kind described in clauses (a) through (g), and (i) any and all deferrals, renewals,
extensions, restatements, replacements, refinancings and refundings of, or amendments, modifications, or supplements to, or any indebtedness or obligation issued in exchange for, any indebtedness, obligation or liability of the kind described in
clauses (a) through (h). 
 “Indenture” means this Indenture as amended or supplemented from time to time pursuant to
the terms of this Indenture. 
 “Issuance Date” means the date on which the Securities are first authenticated and issued.

 “Market Disruption Event” means the occurrence or existence prior to 1:00 p.m. on any Trading Day for the Common
Stock of an aggregate one half hour period, of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the stock exchange or otherwise) in the Common Stock or in any options, contracts or future
contracts relating to the Common Stock. 
 “Obligations” means any principal, interest, penalties, fees, rent,
indemnifications, reimbursements, fees and expenses, damages and other liabilities payable under the documentation governing any Indebtedness. 
 “Officer” means the Chief Executive Officer, the President, any Vice President, the Chief Financial Officer, the Treasurer, the Secretary or any Assistant Secretary of the Company. 
  

 6 

 “Officers’ Certificate” means a certificate signed on behalf of the Company by two
Officers, at least one of whom shall be the principal executive officer, principal financial officer or principal accounting officer of the Company. 
 “Opinion of Counsel” means a written opinion that meets the requirements of Section 12.04 from legal counsel. The counsel may be an employee of or counsel to the Company or any Subsidiary of the
Company. 
 “Permitted Junior Securities” means Capital Stock in the Company or debt securities that are subordinated to all
Senior Indebtedness (and any debt securities issued in exchange for Senior Indebtedness) to substantially the same extent as, or to a greater extent than, the Securities are subordinated to Senior Indebtedness pursuant to this Indenture. 

“Person” or “person” means any individual, corporation, partnership, limited liability company, joint venture,
association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 
 “Principal” or “principal” of a debt security, including the Securities, means the principal of the security plus, when appropriate, the premium, if any, on the security. 

“Prospectus” means that final prospectus dated March 27, 2007, relating to the Securities. 
 “Redemption Date” when used with respect to any Security to be redeemed, means the date fixed for such redemption pursuant to this
Indenture. 
 “Redemption Price” when used with respect to any Security to be redeemed, means 100% of the principal amount
of the Securities to be redeemed, plus any accrued and unpaid interest to, but not including, the Redemption Date. 
 “Representative” means the indenture trustee or other trustee, agent or representative for any Senior Indebtedness. 
 “Responsible Officer” when used with respect to the Trustee, means any officer within the corporate trust services department of the Trustee with direct responsibilities for the administration of this Indenture and also
means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of
this Indenture. 
 “Sale Price” of the Common Stock on any date means the closing sale price (or if no closing sale price is
reported, the average of the bid and asked 

  

 7 

 
prices or, if more than one such price in either case, the average of the average bid and the average asked prices) on that date as reported by the NASDAQ
Global Select Market or, if the Common Stock is not listed on the NASDAQ Global Select Market, on the other principal U.S. national or regional securities exchange on which the Common Stock is then traded. The Sale Price will be determined without
reference to after-hours or extended market trading. If the Common Stock is not reported by the NASDAQ Global Select Market or a principal U.S. national or regional securities exchange, the “Sale Price” will be the last quoted bid
price for the Common Stock in the over-the-counter market on the relevant date as reported by the National Quotation Bureau or similar organization. If the Common Stock is not so quoted, the “Sale Price” will be the average of the
mid-point of the last bid and asked prices for the Common Stock on the relevant date from each of at least three nationally recognized independent investment banking firms selected by the Company for this purpose. 
 “Scheduled Trading Day” means any day that is scheduled to be a Trading Day. 
 “SEC” means the Securities and Exchange Commission. 
 “Securities” means the 2.50% Convertible Subordinated Notes due April 15, 2012 or any of them (each, a “Security”), as amended or supplemented from time to time, that are issued
under this Indenture. 
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder, as in effect from time to time. 
 “Securities Custodian” means the Trustee, as custodian with
respect to the Securities in global form, or any successor thereto. 
 “Senior Indebtedness” means (a) the principal
of, premium, if any, interest (including all interest accruing subsequent to the commencement of any bankruptcy or similar proceeding, whether or not a claim for post-petition interest is allowable as a claim in any such proceeding) and rent payable
on or termination payment with respect to or in connection with Indebtedness of the Company (together with all fees, costs, expenses and other amounts accrued or due on or in connection therewith) whether outstanding on the date of this Indenture or
subsequently created, incurred, assumed, guaranteed or in effect guaranteed by the Company (including all deferrals, renewals, extensions or refundings of, or amendments, modifications or supplements to, the foregoing), except for: (a) any
Indebtedness that by its terms expressly provides that such Indebtedness shall not be senior in right of payment to the Securities or expressly provides that such Indebtedness is equal with or junior in right of payment with the Securities;
(b) any Indebtedness between or among the Company or any of its majority or wholly-owned Subsidiaries, or any entity a majority of the voting stock of which 

  

 8 

 
the Company directly or indirectly owns, other than Indebtedness to the Company’s Subsidiaries arising by reason of guaranties by the Company of
Indebtedness of such Subsidiary to a person that is not a Subsidiary of the Company; (c) the Company’s real and personal property leases, its capital leases and its equipment and IBX financing obligations, provided, however, that
(i) the Company’s obligations in connection with Loan Agreements dated December 21, 2005 (as amended through December 27, 2006) and February 2, 2007 with SFT I, Inc., and (ii) its mortgage payables, shall constitute
Senior Indebtedness; (d) Indebtedness under the Company’s 2.50% Convertible Subordinated Debentures due 2024; (e) any liability for federal, state, local or other taxes owed or owing by the Company; and (f) the
Company’s trade payables and accrued expenses (including, without limitation, accrued compensation and accrued restructuring charges) or deferred purchase price for goods, services or materials purchased or provided in the ordinary course of
business. 
 “Significant Subsidiary” means, in respect of any Person, a Subsidiary of such Person that would constitute a
“significant subsidiary”, as such term is defined under Rule 1-02 of Regulation S-X under the Securities Act and the Exchange Act. 
 “Subsidiary” means, in respect of any Person, any corporation, association, partnership or other business entity of which more than 50% of the total voting power of shares of Capital Stock or other
interests (including partnership interests) entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers, general partners or trustees thereof is at the time owned or controlled, directly or
indirectly, by (a) such Person; (b) such Person and one or more Subsidiaries of such Person; or (c) one or more Subsidiaries of such Person. 
 “Termination of Trading” means the Common Stock (or other common stock into which the Securities are then convertible) is (i) no longer listed or approved for trading on the NASDAQ Global Select
Market, the NASDAQ Global Market or the New York Stock Exchange, or (ii) suspended from trading for 20 consecutive Business Days. 
 “TIA” means the Trust Indenture Act of 1939, as amended, and the rules and regulations thereunder as in effect on the date of this Indenture, except as provided in Section 11.03, and except to the extent any amendment
to the Trust Indenture Act expressly provides for application of the Trust Indenture Act as in effect on another date. 
 “Trading
Day” means a day during which (i) there is no Market Disruption Event, and (ii) the NASDAQ Global Select Market or, if the Common Stock is not quoted on the NASDAQ Global Select Market, on the principal U.S. national or regional
securities exchange on which the Common Stock is then 

  

 9 

 
listed, opens for trading during its regular trading session or, if the Common Stock is not so listed, admitted for trading or quoted, any Business Day. A
“Trading Day” only includes those days that have a scheduled closing time of 4:00 p.m. (New York City time) or the then standard closing time for regular trading on the relevant exchange or trading system. 
 “Trading Price” of the Securities on any date of determination means the average of the secondary market bid quotations per $1,000
principal amount of Securities obtained by the Trustee for $2,000,000 principal amount of Securities at approximately 3:30 p.m., New York City time, on such determination date from three independent nationally recognized securities dealers
selected by the Company; provided that if three such bids cannot reasonably be obtained by the Trustee, but two such bids are obtained, then the average of the two bids shall be used, and if only one such bid can reasonably be obtained by the
Trustee, that one bid shall be used. If the Trustee cannot reasonably obtain at least one bid for $2,000,000 principal amount of Securities from a nationally recognized securities dealer, then the Trading Price per $1,000 principal amount of
Securities will be deemed to be less than 98% of the product of the Sale Price of the Common Stock and the Applicable Conversion Rate on such date. 
 “Trustee” means the party 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 the successor. 
 “Underwriters” means Citigroup Global Markets, Inc., Credit Suisse Securities (USA) LLC and Jefferies & Company, Inc.

 “Vice President” when used with respect to the Company or the Trustee, means any vice president, whether or not
designated by a number or a word or words added before or after the title “vice president”. 
 “Volume Weighted
Average Price” per share of Common Stock on any Trading Day means such price as displayed on Bloomberg (or any successor service) page EQIX<equity>VAP in respect of the period from 9:30 a.m. to 4:00 p.m., New York City
time, on such Trading Day; or, if such price is not available, the “Volume Weighted Average Price” means the market value per share of Common Stock on such Trading Day as determined by a nationally recognized investment banking
firm retained for this purpose by the Company. 
 Section 1.02 . Other Definitions. 
  

			
	 Term
	  	Section
	 Additional Shares
	  	4.08(a)
	 Agent Members
	  	2.01(b)
	 Bankruptcy Law
	  	8.01(j)

  

 10 

			
	 Term
	  	Section
	 Cash Election
	  	4.04(a)
	 Cash Settlement Averaging Period
	  	4.04(a)
	 Cash Settlement Notice Period
	  	4.04(a)
	 clearing agency
	  	2.12(b)
	 Company Order
	  	2.02
	 Conversion Agent
	  	2.03
	 Conversion Date
	  	4.03
	 Conversion Notice
	  	4.03
	 Conversion Obligation
	  	4.04(a)
	 Conversion Rate
	  	4.02
	 Conversion Retraction Period
	  	4.04(a)
	 Current Market Price
	  	4.07
	 CUSIP
	  	2.13
	 Custodian
	  	8.01(j)
	 Cut-off Date
	  	4.08(b)
	 DTC
	  	2.01(b)
	 Depositary
	  	2.01(b)
	 Distributed Property
	  	4.07(a)
	 Effective Date
	  	4.04(a)
	 Event of Default
	  	8.01
	 Expiration Date
	  	4.07(a)
	 Extension Fee
	  	8.03
	 Filing Default Date
	  	8.03
	 Final Notice Date
	  	4.04(a)
	 Financial Institution
	  	4.05
	 Fundamental Change Repurchase Date
	  	3.08(a)
	 Fundamental Change Repurchase Notice
	  	3.08(b)
	 Fundamental Change Repurchase Price
	  	3.08(a)
	 Irrevocable Election
	  	4.04(a)
	 Legal Holiday
	  	12.07
	 Measurement Period
	  	4.01(a)
	 Paying Agent
	  	2.03
	 Payment Blockage Notice
	  	5.03(b)
	 Payment Blockage Period
	  	5.03(b)
	 Primary Registrar
	  	2.03
	 record date
	  	4.07
	 Reference Property
	  	4.10
	 Registrar
	  	2.03
	 Reporting Obligations
	  	8.03
	 Repurchase Exercise Notice
	  	3.08(c)
	 Required Cash Amount
	  	4.04(a)
	 Rights Plan
	  	4.07(a)
	 Share Election
	  	4.04(a)

  

 11 

			
	 Term
	  	Section
	 Specified Cash Amount
	  	4.04(a)
	 Spin-Off
	  	4.07(a)
	 Spin-Off Securities
	  	4.07(a)
	 Stock Price
	  	4.08(a)
	 Successor Person
	  	7.01
	 Triggering Distribution
	  	4.07(a)
	 Trigger Event
	  	4.07(a)
	 Underwriting Agreement
	  	2.02

 Section 1.03. Trust Indenture Act Provisions. Whenever this Indenture refers to a provision
of the TIA, that provision is incorporated by reference in and made a part of this Indenture. The Indenture shall also include those provisions of the TIA required to be included herein by the provisions of the Trust Indenture Reform Act of 1990.
The following TIA terms used in this Indenture have the following meanings: 
 “indenture securities” means the Securities;

 “indenture security holder” means a Securityholder; 
 “indenture to be qualified” means this Indenture; and 
 “indenture trustee” or “institutional trustee” means the Trustee; and “obligor” on the indenture
securities means the Company or any other obligor on the Securities. 
 All other terms used in this Indenture that are defined in the TIA,
defined by TIA reference to another statute or defined by any SEC Rule and not otherwise defined herein have the meanings assigned to them therein. 
 Section 1.04. Rules of Construction. Unless the context otherwise requires: 
 (a) a term has the
meaning assigned to it; 
 (b) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(c) words in the singular include the plural, and words in the plural include the singular; 
 (d) provisions apply to successive events and transactions; 
 (e) the term “merger” includes a statutory share exchange and the term “merged” has a correlative meaning; 
  

 12 

 (f) the masculine gender includes the feminine and the neuter; 
 (g) references to agreements and other instruments include subsequent amendments thereto; and 
 (h) “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. 
 ARTICLE 2 
 THE SECURITIES 
 Section 2.01. Form and Dating. 
 (a) General. The Securities and the Trustee’s certificate of authentication shall be substantially in the respective forms set forth in
Exhibit A, which Exhibit is incorporated in and made part of this Indenture. The Securities may have notations, legends or endorsements required by law, stock exchange Rule or usage. The Company shall provide any such notations, legends or
endorsements to the Trustee in writing. Each Security shall be dated the date of its authentication. The terms and provisions contained in the Securities shall constitute, and are hereby expressly made, a part of this Indenture, and the Company and
the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Security conflicts with the express provisions of this Indenture, the
provisions of this Indenture shall govern and be controlling. 
 (b) Global Securities. All of the Securities shall be issued
initially in the form of one or more Global Securities, which shall be deposited on behalf of the purchasers of the Securities represented thereby with the Trustee, at its Corporate Trust Office, as custodian for the depositary, The Depository Trust
Company (“DTC”) (such depositary, or any successor thereto, being hereinafter referred to as the “Depositary”), and registered in the name of its nominee, Cede & Co., duly executed by the Company and
authenticated by the Trustee as hereinafter provided. 
 Each Global Security shall represent such of the outstanding Securities as shall be
specified therein and each shall provide that it shall represent the aggregate amount of outstanding Securities from time to time endorsed thereon and that the aggregate amount of outstanding Securities represented thereby may from time to time be
reduced or increased, as appropriate, to reflect exchanges, redemptions, purchases or conversions of such Securities. Any adjustment of the aggregate principal amount of a Global Security to reflect the amount of any increase or decrease in the
amount of outstanding Securities represented thereby 

  

 13 

 
shall be made by the Trustee in accordance with instructions given by the Holder thereof as required by Section 2.12 hereof and shall be made on the
records of the Trustee and the Depositary. 
 Members of, or participants in, the Depositary (“Agent Members”) shall have no
rights under this Indenture with respect to any Global Security held on their behalf by the Depositary or under the Global Security, and the Depositary (including, for this purpose, its nominee) may be treated by the Company, the Trustee and any
agent of the Company or the Trustee as the absolute owner and Holder of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall (i) prevent the Company, the Trustee or any agent of the Company or
the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or (ii) impair, as between the Depositary and its Agent Members, the operation of customary practices governing the exercise
of the rights of a Holder of any Security. 
 (c) Book Entry Provisions. The Company shall execute and the Trustee shall, in
accordance with this Section 2.01(c), authenticate and deliver initially one or more Global Securities that (i) shall be registered in the name of the Depositary, (ii) shall be delivered by the Trustee to the Depositary or pursuant to
the Depositary’s instructions and (iii) shall bear a legend substantially to the following effect: 
 “UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, CONVERSION 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 THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY), 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. THIS NOTE IS A GLOBAL SECURITY WITHIN
THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS NOTE IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS 

  

 14 

 
NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE
FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A
SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY”. 
 Section 2.02. Execution and Authentication. An Officer
shall sign the Securities for the Company by manual or facsimile signature attested by the manual or facsimile signature of the Secretary or an Assistant Secretary of the Company. Typographic and other minor errors or defects in any such facsimile
signature shall not affect the validity or enforceability of any Security which has been authenticated and delivered by the Trustee. 
 If an
Officer whose signature is on a Security no longer holds that office at the time the Trustee authenticates the Security, the Security shall be valid nevertheless. 
 A Security shall not be valid until an authorized signatory of the Trustee manually signs the certificate of authentication on the Security. The signature shall be conclusive evidence that the Security has been
authenticated under this Indenture. 
 Subject to the third sentence of this paragraph, the Trustee shall authenticate and make available for
delivery Securities for original issue in the aggregate principal amount of up to $220,000,000 (or such greater amount necessary to reflect the exercise by the Underwriters of their option to purchase additional Securities in compliance with the
Underwriting Agreement, dated March 27, 2007, between the Company and the Underwriters (the “Underwriting Agreement”) but not to exceed $250,000,000 in aggregate principal amount) upon receipt of a written order or orders of
the Company signed by two Officers, at least one of whom shall be the principal executive officer, principal financial officer or principal accounting officer of the Company (a “Company Order”). The Company Order shall specify the
amount of Securities to be authenticated, shall provide that all such Securities will be represented by a Global Security and the date on which each original issue of Securities is to be authenticated. The Company at any time or from time to time
may, without the consent of any Holder, issue additional Securities in an unlimited principal amount having the same terms (including ranking, interest rate and maturity) and having the same CUSIP number as the Securities initially issued hereunder,
and entitled to all of 

  

 15 

 
the benefits of this Indenture, provided that no such additional Securities may be issued unless for U.S. federal income tax purposes they are fungible with
the Securities initially issued hereunder. Such additional Securities will be deemed Securities for all purposes hereunder, including without limitation in determining the necessary Holders who may take the actions or consent to the taking of
actions as specified in this Indenture. Such additional Securities, together with the Securities originally issued hereunder, constitute a single series of Securities under this Indenture. 
 The Trustee shall act as the initial authenticating agent. Thereafter, the Trustee may appoint an authenticating agent acceptable to the Company to
authenticate Securities. An authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent shall have
the same rights as an Agent to deal with the Company or an Affiliate of the Company. 
 The Securities shall be issuable only in registered
form without coupons and only in denominations of $1,000 principal amount and any integral multiple thereof. 
 Section 2.03. Registrar,
Paying Agent and Conversion Agent. The Company shall maintain one or more offices or agencies where Securities may be presented for registration of transfer or for exchange (each, a “Registrar”), one or more offices or agencies
where Securities may be presented for payment (each, a “Paying Agent”), one or more offices or agencies where Securities may be presented for conversion (each, a “Conversion Agent”) and one or more offices or
agencies where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Company will at all times maintain a Paying Agent, Conversion Agent, Registrar and an office or agency where notices and
demands to or upon the Company in respect of the Securities and this Indenture may be served in the Borough of Manhattan, The City of New York. One of the Registrars (the “Primary Registrar”) shall keep a register of the
Securities and of their registration of transfer and exchange. The Company shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. 
 The Company shall enter into an appropriate agency agreement with any Agent not a party to this Indenture. The agreement shall implement the provisions
of this Indenture that relate to such Agent. The Company shall give prompt written notice to the Trustee of the name and address of any Agent not a party to this Indenture. If the Company fails to maintain a Registrar, Paying Agent, Conversion Agent
or agent for service of notices and demands in any place required by this Indenture, or fails to give the foregoing notice, the Trustee shall act as such. The Company or any Affiliate of the Company may act as Paying Agent (except for the purposes
of Section 6.01 and Article 10). 
  

 16 

 The Company hereby initially designates the Trustee as Paying Agent, Registrar, Custodian and Conversion
Agent and each of the Corporate Trust Office of the Trustee and the office or agency of the Trustee in the Borough of Manhattan, The City of New York, as an office or agency of the Company for each of the aforesaid purposes. 
 Section 2.04. Paying Agent to Hold Money in Trust. Prior to 11:00 a.m., New York City time, on each due date of the principal of,
premium, if any, any Extension Fee or interest on any Securities, the Company shall deposit with a Paying Agent a sum sufficient to pay such principal, premium, Extension Fee or interest so becoming due. A Paying Agent shall hold in trust for the
benefit of Securityholders or the Trustee all money held by the Paying Agent for the payment of principal of, premium or interest on the Securities, and shall notify the Trustee of any default by the Company (or any other obligor on the Securities)
in making any such payment. If the Company or an Affiliate of the Company acts as Paying Agent, it shall, before 11:00 a.m., New York City time, on each due date of the principal of, premium, if any, Extension Fee or interest on any
Securities, segregate the money and hold it as a separate trust fund for the benefit of the Securityholders. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee, and the Trustee may at any time during the
continuance of any default, upon written request to a Paying Agent, require such Paying Agent to pay forthwith to the Trustee all sums so held in trust by such Paying Agent. Upon doing so, the Paying Agent (other than the Company) shall have no
further liability for the money. 
 Section 2.05. Securityholder Lists. The Trustee shall preserve in as current a form as is
reasonably practicable the most recent list available to it of the names and addresses of Securityholders, and the Trustee shall otherwise comply with TIA Section 312(a). If the Trustee is not the Primary Registrar, the Company shall furnish to
the Trustee at least seven Business Days before each semiannual interest payment date, and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and
addresses of Securityholders, and the Company shall otherwise comply with TIA Section 312(a). 
 Section 2.06. Transfer and
Exchange. 
 (a) Subject to compliance with any applicable additional requirements contained in Section 2.12, when a Security is
presented to a Registrar with a request to register a transfer thereof or to exchange such Security for an equal principal amount of Securities of other authorized denominations, the Registrar shall register the transfer or make the exchange as
requested; provided, however, 

  

 17 

 
that every Security presented or surrendered for registration of transfer or exchange shall be duly endorsed or accompanied by an assignment form and, if
applicable, a transfer certificate each in the form included in Exhibit A, and in form satisfactory to the Registrar duly executed by the Holder thereof or its attorney duly authorized in writing. To permit registration of transfers and exchanges,
upon surrender of any Security for registration of transfer or exchange at an office or agency maintained pursuant to Section 2.03, the Company shall execute and the Trustee shall authenticate Securities of a like aggregate principal amount at
the Registrar’s request. Any exchange or registration of transfer shall be without charge, except that the Company or the Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto, and provided, that this sentence shall not apply to any exchange pursuant to Sections 2.07, 2.10, 3.07, 4.03 (last paragraph) or 11.06. 
 Neither the Company, any Registrar nor the Trustee shall be required to exchange or register a transfer of (i) any Securities for a period of 15 days next preceding any mailing of a notice of Securities to be
redeemed, (ii) any Securities or portions thereof selected or called for redemption (except, in the case of redemption of a Security in part, the portion thereof not to be redeemed) or (iii) any Securities or portions thereof in respect of
which a Repurchase Exercise Notice pursuant to Section 3.08(c) hereof has been delivered and not withdrawn by the Holder thereof (except, in the case of the purchase of a Security in part, the portion thereof not to be purchased). 

All Securities issued upon any transfer or exchange of Securities shall be valid obligations of the Company, evidencing the same debt and entitled to
the same benefits under this Indenture, as the Securities surrendered upon such transfer or exchange. 
 (b) Any Registrar appointed pursuant
to Section 2.03 hereof shall provide to the Trustee such information as the Trustee may reasonably require in connection with the delivery by such Registrar of Securities upon transfer or exchange of Securities. 
 (c) Each Holder agrees to indemnify the Company, each Registrar and the Trustee against any liability that may result from the registration of transfer,
exchange or assignment of such Holder’s Security in violation of any provision of this Indenture and/or applicable United States federal or state securities law. 
 The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any
interest in any Security (including any transfers between or among Agent Members or other beneficial owners of interests in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly

  

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required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to
form with the express requirements hereof. 
 Section 2.07. Replacement Securities. If any mutilated Security is surrendered to the
Company, a Registrar or the Trustee, or the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Security, and there is delivered to the Company, the applicable Registrar and the Trustee such security or indemnity
as will be required by them to save each of them harmless, then, in the absence of notice to the Company, such Registrar or the Trustee that such Security has been acquired by a protected purchaser, the Company shall execute, and upon its written
request the Trustee shall authenticate and deliver, in exchange for any such mutilated Security or in lieu of any such destroyed, lost or stolen Security, a new Security of like tenor and principal amount, bearing a number not contemporaneously
outstanding. 
 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, or is about
to be redeemed or purchased by the Company pursuant to Article 3, the Company in its discretion may, instead of issuing a new Security, pay, redeem or purchase such Security, as the case may be. 
 Upon the issuance of any new Securities under this Section 2.07, the Company may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the reasonable fees and expenses of the Trustee or the Registrar) in connection therewith. 
 Every new Security issued pursuant to this Section 2.07 in lieu of any mutilated, destroyed, lost or stolen Security shall constitute an original
additional contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all benefits of this Indenture equally and proportionately with
any and all other Securities duly issued hereunder. 
 The provisions of this Section 2.07 are (to the extent lawful) exclusive and
shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
 Section 2.08. Outstanding Securities. Securities outstanding at any time are all Securities authenticated by the Trustee, except for those canceled by it, those converted pursuant to Article 4, those delivered
to it for cancellation or surrendered for transfer or exchange and those described in this Section 2.08 as not outstanding. 
  

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 If a Security is replaced pursuant to Section 2.07, it ceases to be outstanding unless the Trustee
receives proof satisfactory to it that the replaced Security is held by a protected purchaser. 
 If a Paying Agent (other than the Company
or an Affiliate of the Company) holds on a Redemption Date, a Fundamental Change Repurchase Date or the Final Maturity Date money sufficient to pay the principal of, premium, if any, any Extension Fees and accrued interest on Securities (or portions
thereof) payable on that date, then on and after such Redemption Date, Fundamental Change Repurchase Date or the Final Maturity Date, as the case may be, such Securities (or portions thereof, as the case may be) shall cease to be outstanding and
interest on them shall cease to accrue; provided, that if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made.

 Subject to the restrictions contained in Section 2.09, a Security does not cease to be outstanding because the Company or an
Affiliate of the Company holds the Security. 
 Section 2.09. Treasury Securities. In determining whether the Holders of the required
principal amount of Securities have concurred in any notice, direction, waiver or consent, Securities owned by the Company or any other obligor on the Securities or by any Affiliate of the Company or of such other obligor shall be disregarded,
except that, for purposes of determining whether the Trustee shall be protected in relying on any such notice, direction, waiver or consent, only Securities that a Responsible Officer of the Trustee actually knows are so owned shall be so
disregarded. Securities so owned that have been pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to the Securities and that the pledgee is
not the Company or any other obligor on the Securities or any Affiliate of the Company or of such other obligor. 
 Section 2.10.
Temporary Securities. Until definitive Securities are ready for delivery, the Company may prepare and execute, and, upon receipt of a Company Order, the Trustee shall authenticate and deliver, temporary Securities. Temporary Securities shall be
substantially in the form of definitive Securities but may have variations that the Company considers appropriate for temporary Securities and as shall be reasonably acceptable to the Trustee. Without unreasonable delay, the Company shall prepare
and the Trustee, upon receipt of a Company Order, shall authenticate and deliver definitive Securities in exchange for temporary Securities. 
 Holders of temporary Securities shall be entitled to all the benefits of this Indenture. 
  

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 Section 2.11 . Cancellation. The Company at any time may deliver Securities to the Trustee for
cancellation. The Registrar, the Paying Agent and the Conversion Agent shall forward to the Trustee or its agent any Securities surrendered to them for registration of transfer, exchange, redemption, payment or conversion. The Trustee (and no one
else) shall promptly cancel, in accordance with its standard procedures, all Securities surrendered for registration of transfer, exchange, redemption, payment, conversion or cancellation and shall dispose of canceled Securities (subject to the
record retention requirements of the Exchange Act), in accordance with its standard procedures. All Securities that are redeemed or repurchased by the Company in connection with a Fundamental Change prior to the Final Maturity Date shall be
delivered to the Trustee for cancellation. The Company may not hold or resell such Securities or issue new Securities to replace Securities that it has redeemed or repurchased in connection with a Fundamental Change or that have been delivered to
the Trustee for cancellation. 
 Section 2.12 . Additional Transfer and Exchange Requirements. 
 (a) A Global Security may not be transferred, in whole or in part, to any Person other than the Depositary or a nominee or any successor thereof, and no
such transfer to any such other Person may be registered; provided that the foregoing shall not prohibit any transfer of a Security that is issued in exchange for a Global Security but is not itself a Global Security. No transfer of a
Security to any Person shall be effective under this Indenture or the Securities unless and until such Security has been registered in the name of such Person. Notwithstanding any other provisions of this Indenture or the Securities, transfers of a
Global Security, in whole or in part, shall be made only in accordance with this Section 2.12. 
 (b) The provisions of
clauses (i), (ii), (iii) and (iv) below shall apply only to Global Securities: 
 (i) Notwithstanding any other
provisions of this Indenture or the Securities, a Global Security shall not be exchanged in whole or in part for a Security registered in the name of any Person other than the Depositary or one or more nominees thereof; provided that a Global
Security may be exchanged for Securities registered in the names of any person designated by the Depositary in the event that (A) the Depositary has notified the Company that it is unwilling or unable to continue as Depositary for such Global
Security or such Depositary has ceased to be a “clearing agency” registered under the Exchange Act, and a successor Depositary is not appointed by the Company within 90 days, (B) the Company has provided the Depositary with
written notice that it has decided to discontinue use of the system of book-entry transfer through the Depositary or any successor Depositary or (C) an Event of Default has occurred and is continuing. Any Global Security exchanged pursuant to

  

 21 

 
clauses (A) or (B) above shall be so exchanged in whole and not in part, and any Global Security exchanged pursuant to clause (C) above may be
exchanged in whole or from time to time in part as directed by the Depositary. Any Security issued in exchange for a Global Security or any portion thereof shall be a Global Security; provided that any such Security so issued that is
registered in the name of a Person other than the Depositary or a nominee thereof shall not be a Global Security. 
 (ii)
Securities issued in exchange for a Global Security or any portion thereof shall be issued in definitive, fully-registered book entry form, without interest coupons, shall have an aggregate principal amount equal to that of such Global Security or
portion thereof to be so exchanged, shall be registered in such names and be in such authorized denominations as the Depositary shall designate and shall bear any applicable legend provided for herein. Any Global Security to be exchanged in whole
shall be surrendered by the Depositary to the Trustee, as Registrar. With regard to any Global Security to be exchanged in part, either such Global Security shall be so surrendered for exchange or, if the Trustee is acting as custodian for the
Depositary or its nominee with respect to such Global Security, the principal amount thereof shall be reduced, by an amount equal to the portion thereof to be so exchanged, by means of an appropriate adjustment made on the records of the Trustee.
Upon any such surrender or adjustment, the Trustee shall authenticate and deliver the Security issuable on such exchange to or upon the order of the Depositary or an authorized representative thereof; provided, however, that any Global
Security surrendered for exchange shall be duly endorsed or accompanied by a written instrument of transfer in accordance with the proviso to the first paragraph of Section 2.06(a). 
 (iii) Subject to the provisions of clause (v) below, the registered Holder may grant proxies and otherwise authorize any Person,
including Agent Members and persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities. 
 (iv) In the event of the occurrence of any of the events specified in clause (i) above, the Company will promptly make available to
the Trustee a reasonable supply of Certificated Securities in definitive, fully registered form, without interest coupons. 
 (v) Neither Agent Members nor any other Persons on whose behalf Agent Members may act shall have any rights under this Indenture with respect to any Global Security registered in the name of the Depositary or any nominee thereof, or under
any such Global Security, and the Depositary or such nominee, as the case may be, may be treated by 

  

 22 

 
the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner and holder of such Global Security for all purposes whatsoever.
Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or such
nominee, as the case may be, or impair, as between the Depositary, its Agent Members and any other person on whose behalf an Agent Member may act, the operation of customary practices of such Persons governing the exercise of the rights of a holder
of any Security. 
 (c) In the event that Certificated Securities are issued in exchange for beneficial interests in Global Securities and,
thereafter, the events or conditions specified in Section 2.12(b)(i) which required such exchange shall cease to exist, the Company shall deliver notice to the Trustee and to the Holders stating that Holders may exchange Certificated Securities
for interests in Global Securities by complying with the procedures set forth in this Indenture and briefly describing such procedures and the events or circumstances requiring that such notice be given. Thereafter, if Certificated Securities are
presented by a Holder to a Registrar with a request: 
 (i) to register the transfer of such Certificated Securities to a
person who will take delivery thereof in the form of a beneficial interest in a Global Security; or 
 (ii) to exchange
such Certificated Securities for an equal principal amount of beneficial interests in a Global Security, which beneficial interests will be owned by the Holder transferring such Certificated Securities, 
 the Registrar shall register the transfer or make the exchange as requested by canceling such Certificated Securities and causing, or directing the Custodian to cause,
the aggregate principal amount of the applicable Global Security to be increased accordingly and, if no such Global Security is then outstanding, the Company shall issue and the Trustee, upon receipt of a Company Order, shall authenticate and
deliver a new Global Security; provided, however, that the Certificated Securities presented or surrendered for registration of transfer or exchange shall be duly endorsed or accompanied by a written instrument of transfer in
accordance with the proviso to the first paragraph of Section 2.06(a). 
 Section 2.13 . CUSIP Numbers. The Company in issuing
the Securities may use one or more “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption or purchase as a convenience to Holders; provided that
any such notice may state that no representation is made as to the correctness of such numbers either as printed on 

  

 23 

 
the Securities or as contained in any notice of a redemption or purchase and that reliance may be placed only on the other identification numbers printed on
the Securities, and any such redemption or purchase shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee of any change in the “CUSIP” numbers. 
 Section 2.14. Repurchases. The Company may from time to time repurchase the Securities in tender offers, open market purchases or negotiated
transactions at any price without prior notice to Securityholders. 
 ARTICLE 3 
 REDEMPTION AND PURCHASES 
 Section
3.01. Optional Redemption. (a) The Company shall not have the option to redeem the Securities pursuant to this Section 3.01 prior to April 16, 2010. The Securities may be redeemed, at the option of the Company, on or after
April 16, 2010, in whole or in part, in cash but only if the Sale Price of the Common Stock for at least 20 Trading Days of the 30 consecutive Trading Days immediately prior to the day the Company gives a notice of redemption is greater than
130% of the Applicable Conversion Price on the date of such notice, at a Redemption Price in cash equal to 100% of the principal amount of the Securities to be redeemed together with accrued and unpaid interest, if any, on the principal amount of
the Securities redeemed to, but not including, the date of redemption. 
 (b) The Company shall make at least six semi-annual interest
payments (including interest payments on October 15, 2007 and April 15, 2010) in the full amount required by this Indenture before it may redeem the Securities. 
 (c) Any redemption pursuant to this Section 3.01 shall be made pursuant to the provisions of Sections 3.02 through 3.07 hereof. 
 Section 3.02. Right to Redeem; Notice to Trustee. If the Company elects to redeem Securities pursuant to Section 3.01, it shall furnish to the Trustee at least 25 but not more than 60 days prior to the
Redemption Date as fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee) an Officers’ Certificate setting forth the Redemption Date and the principal amount of Securities to be redeemed. If fewer than all of the
Securities are to be redeemed, the record date relating to such redemption shall be selected by the Company and given to the Trustee, which record date shall not be less than 10 days after the date of notice to the Trustee. 
 Section 3.03. Selection of Securities to Be Redeemed. If fewer than all of the Securities are to be redeemed, unless the procedures of the
Depositary provide otherwise, the Trustee shall, at least 20 days but not more than 60 days prior to the 

  

 24 

 
Redemption Date, select the Securities to be redeemed and promptly notify the Company in writing of its selection. The Trustee shall make the selection from
the Securities outstanding and not previously called for redemption, by lot, on a pro rata basis or by any other method the Trustee considers fair and appropriate. Securities in denominations of $1,000 may only be redeemed in whole. The Trustee may
select for redemption portions (equal to $1,000 or any integral multiple thereof) of the principal of Securities that have denominations larger than $1,000. Provisions of this Indenture that apply to Securities called for redemption also apply to
portions of Securities called for redemption. 
 If any Security selected for partial redemption is converted in part before termination of
the conversion right with respect to the portion of the Security so selected, the converted portion of such Security shall be deemed to be the portion selected for redemption. Securities which have been converted during a selection of Securities to
be redeemed shall be treated by the Trustee as outstanding for the purpose of such selection. 
 Section 3.04. Notice of Redemption.
At least 20 days but not more than 60 days before a Redemption Date, the Company shall deliver a notice of redemption to each Holder of Securities to be redeemed at such Holder’s registered address. 
 The notice shall identify the Securities (including CUSIP numbers) to be redeemed and shall state: 
 (a) the Redemption Date; 
 (b) the
Redemption Price; 
 (c) the Applicable Conversion Rate; 
 (d) the name and address of each Paying Agent and Conversion Agent; 
 (e) that Securities called for
redemption must be presented and surrendered to a Paying Agent to collect the Redemption Price; 
 (f) that Holders who wish to convert
Securities must surrender such Securities for conversion no later than the close of business on the Business Day immediately preceding the Redemption Date; 
 (g) that, unless the Company defaults in making the payment of the Redemption Price, interest on Securities called for redemption shall cease accruing on and after the Redemption Date and the only remaining right of
the Holder shall be to receive payment of the Redemption Price plus accrued interest, if any, up to but not including the Redemption Date, upon presentation and surrender to a Paying Agent of the Securities; and 
  

 25 

 (h) if any Security is being redeemed in part, the portion of the principal amount of such Security to be
redeemed and that, after the Redemption Date, upon presentation and surrender of such Security, a new Security or Securities in aggregate principal amount equal to the unredeemed portion thereof will be issued. 
 If any of the Securities to be redeemed is in the form of a Global Security, then the Company shall modify such notice to the extent necessary to accord
with the procedures of the Depositary applicable to redemptions. At the Company’s written request to the Trustee, upon reasonable prior notice, which request shall (i) be irrevocable once given and (ii) set forth all relevant
information required by clauses (a) through (h) of the preceding paragraph, the Trustee shall give the Redemption Notice in the Company’s name and at the Company’s expense. 
 Section 3.05. Effect of Notice of Redemption. Once a Redemption Notice is mailed, Securities called for redemption become due and payable on the
Redemption Date and at the Redemption Price stated in the notice, together with accrued and unpaid interest, if any, except for Securities that are converted in accordance with the provisions of Article 4. Upon presentation and surrender to a Paying
Agent, Securities called for redemption shall be paid at the Redemption Price, plus accrued interest up to but not including the Redemption Date; provided that if the Redemption Date falls after an interest payment record date and on or
before an interest payment date, then the interest will be payable to the Holders in whose name the Securities are registered at the close of business on the interest payment record date. 
 Section 3.06. Deposit of Redemption Price. At least one Business Day prior to the Redemption Date, the Company shall deposit with a Paying Agent
(or, if the Company acts as Paying Agent, shall segregate and hold in trust) an amount of money sufficient to pay the Redemption Price of and accrued interest on all Securities to be redeemed on that date, other than Securities or portions thereof
called for redemption on that date which have been delivered by the Company to the Trustee for cancellation or have been converted. The Paying Agent shall as promptly as practicable return to the Company any money not required for that purpose
because of the conversion of Securities pursuant to Article 4 or, if such money is then held by the Company in trust and is not required for such purpose, it shall be discharged from the trust. 
 Section 3.07. Securities Redeemed in Part. In case of any redemption in part, the Company shall not be required to (a) issue, register the
transfer of or exchange any Security during a period of 15 days before the mailing of the Redemption Notice; or (b) register the transfer of or exchange any Security so selected for redemption, in whole or in part, except the unredeemed
portion of any Security being redeemed in part. Upon presentation and surrender of a Security that is redeemed in part, the Company shall execute and, upon the Company’s written request, the Trustee shall authenticate and deliver to the Holder,
at the expense of the Company, a new Security equal in principal amount to the unredeemed portion of the Security surrendered. 
  

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 Section 3.08. Repurchase at Option of the Holder upon a Fundamental Change. 
 (a) Subject to the satisfaction of the requirements of this Section 3.08, if a Fundamental Change occurs, each Holder will, upon receipt of the
notice of the occurrence of a Fundamental Change described in Section 3.08(b), have the right to require the Company to repurchase for cash any or all of such Holder’s Securities not previously called for redemption, or any portion of
those Securities that is equal to $1,000 or an integral multiple of $1,000, on the date (the “Fundamental Change Repurchase Date”) that is 45 days after the date the Company gives the Fundamental Change Repurchase Notice at a price
equal to 100% of the principal amount of the Securities to be repurchased plus accrued and unpaid interest, if any, to (but excluding) the Fundamental Change Repurchase Date (the “Fundamental Change Repurchase Price”). 

(b) Within 30 days after the occurrence of a Fundamental Change, the Company shall provide to all Holders of the Securities, the Trustee and the
Paying Agent a notice of the occurrence of the Fundamental Change and of the resulting repurchase right (the “Fundamental Change Repurchase Notice”). 
 (c) To exercise the repurchase right in connection with a Fundamental Change, a Holder must, prior
to 5:00 p.m., New York City time, on the 30th day after the date of the Fundamental Change Repurchase
Notice, deliver the Securities to be repurchased to the Paying Agent, duly endorsed for transfer, or effect book-entry transfer of the Securities to the Paying Agent, and must deliver a written notice of repurchase (a “Repurchase Exercise
Notice”), substantially in the form included in Exhibit A hereto, duly completed to the Paying Agent. The Repurchase Exercise Notice must state: 
 (i) if the Securities are certificated, the certificate numbers of the Securities to be delivered for repurchase; 
 (ii) the portion of the principal amount of the Securities to be repurchased, which must be equal to $1,000 or an integral multiple thereof; and 
 (iii) that the Securities are to be repurchased by the Company as of the Fundamental Change Repurchase Date pursuant to the applicable
provisions of the Securities and this Indenture. 
 If the Securities are not in certificated form, the Repurchase Exercise Notice must
comply with the Applicable Procedures. 
  

 27 

 A Holder may withdraw any Repurchase Exercise Notice (in whole or in part) by a written notice of
withdrawal delivered to the Paying Agent prior to 5:00 p.m., New York City time, on the Fundamental Change Repurchase Date. The notice of withdrawal must state: 
 (i) the principal amount of the Securities for which the Repurchase Exercise Notice has been withdrawn; 
 (ii) if certificated Securities have been issued, the certificate numbers of the withdrawn Securities; and 
 (iii) the principal amount, if any, that remains subject to the Repurchase Notice. 
 If the Securities are not in certificated form, the withdrawal notice must comply with the Applicable Procedures. 
 (d) The Company shall promptly pay the Fundamental Change Repurchase Price for Securities surrendered for repurchase following the Fundamental Change
Repurchase Date. 
 Section 3.09. Compliance with Securities Laws upon Purchase of Securities. In connection with any offer to
purchase or purchase of Securities under Section 3.08, the Company shall comply with all tender offer rules applicable to the Company under the Exchange Act. The Company shall (a) comply with Rule 13e-4 and Rule 14e-l (or any
successor to either such Rule), if applicable, under the Exchange Act, (b) file the related Schedule TO (or any successor or similar schedule, form or report) if required under the Exchange Act, and (c) otherwise comply with all
federal and state securities laws in connection with such offer to purchase or purchase of Securities, all so as to permit the rights of the Holders and obligations of the Company under Sections 3.08 and 4.08 to be exercised in the time and in
the manner specified therein. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Section 3.09, the Company will comply with the applicable securities laws and regulations and will not be
deemed to have breached its obligations under this Section 3.09 by virtue of such conflict. 
 Section 3.10. Repayment to the
Company. To the extent that the aggregate amount of cash deposited by the Company pursuant to Section 3.08 exceeds the aggregate Fundamental Change Repurchase Price together with interest, if any, thereon of the Securities or portions
thereof that the Company is obligated to purchase, then promptly after the Fundamental Change Repurchase Date, the Trustee or a Paying Agent, as the case may be, shall return any such excess cash to the Company. 
  

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 ARTICLE 4 
 CONVERSION 
 Section 4.01. Right to Convert. (a) Subject to and upon compliance
with the provisions of this Indenture, at any time prior to the Close of Business on the Business Day immediately preceding the Final Maturity Date, a Holder of any Security shall have the right, at such Holder’s option, to convert the
Security, unless such Security has been previously redeemed or repurchased, at the Conversion Rate only upon the occurrence of one of the following events: 
 (i) during any fiscal quarter (and only during such fiscal quarter) after the quarter ending June 30, 2007, if the Sale Price of the Common Stock exceeds 130% of the Applicable Conversion Price per share of
Common Stock for at least 20 Trading Days during the period of 30 consecutive Trading Days ending on the last Trading Day of the immediately preceding fiscal quarter; 
 (ii) during the five Business Day period immediately after any ten consecutive Trading Day period (the “Measurement
Period’) in which the Trading Price per $1,000 principal amount of Securities (as determined following a request by a Holder of Securities as set forth below) for each day of such Measurement Period was less than 98% of the product of the
Sale Price of the Common Stock on the applicable date and the Applicable Conversion Rate; 
 (iii) if (A) the Company
(1) elects to distribute to all holders of the Common Stock rights or warrants entitling them to purchase, for a period expiring within 60 days after the distribution of such rights or warrants, shares of Common Stock at a price per share that
is less than the average Sale Price of a share of Common Stock over the five consecutive Trading Day period ending on the Trading Day immediately preceding the announcement of the distribution, or (2) elects to distribute to all holders of
Common Stock cash, assets, debt securities or certain rights to purchase its securities, which distribution has a per share value as determined in good faith by the Company’s Board of Directors exceeding 10% of the average Sale Price of a share
of Common Stock for the five consecutive Trading Day period ending on the Trading Day immediately preceding the announcement of the distribution, then, in either case, the Company shall notify the Holders at least 20 Trading Days prior to the
Ex-Dividend Date for such distribution. After the Company has given such notice, the Securities may be surrendered for conversion at any time until the earlier of the Close of Business on the Business Day immediately preceding the Ex-Dividend Date
or the date the Company publicly announces that such distribution will not take place, even if the Securities are not otherwise convertible at such time; provided that no Holder of Securities may elect this right to convert if the Holder
otherwise may participate in the distribution without conversion; or 
  

 29 

 (B) a transaction described in clauses (a) or (b) of the definition of Change
of Control occurs, then the Securities may be surrendered for conversion at any time from and after the date that is 15 days prior to the anticipated effective date of the transaction and ending on and including the date that is 15 days after the
effective date of the transaction (or if such transaction also constitutes a Fundamental Change, until the corresponding Fundamental Change Repurchase Date). The Company shall notify the Holders and the Trustee as promptly as practicable following
the date of public announcement of such transaction, which shall not be less than fifteen days prior to the anticipated effective date of such transaction; or 
 (iv) at any time prior to the Close of Business on the Business Day immediately preceding the Redemption Date, even if the Securities are
not otherwise convertible at such time. 
 (v) at any time on or after March 15, 2012. 
 Upon receipt by the Conversion Agent of a Conversion Notice from a Holder of Securities pursuant to clause (i) above, the Conversion Agent shall
inform the Company of such request and the Company shall thereupon furnish to the Conversion Agent an Officers’ Certificate stating whether the Securities are then convertible pursuant to clause (i) above and setting forth in reasonable
detail the Company’s basis for such determination. Upon receipt of such Officers’ Certificate, if the Company has determined that the Securities are then convertible in accordance with clause (i) above, the Conversion Agent shall,
based solely on its review of the information contained in such Officer’s Certificate, confirm or refute the Company’s determination. If the Conversion Agent confirms that the Securities are then convertible pursuant to clause (i)
above, the Conversion Agent shall promptly deliver written notice thereof to the Company (and, if the Conversion Agent is other than the Trustee, to the Trustee). In any event, the Company shall be obligated at all times to determine whether the
Securities shall be convertible as a result of the occurrence of an event specified in clause (i) above. 
 The Trustee shall have no
obligation to determine the Trading Price of the Securities under clause (ii) above unless the Company has requested such determination; and the Company shall have no obligation to make such request unless a Holder of Securities provides
the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Securities would be less than 98% of the product of the Sale Price of the Common Stock and the Applicable 

  

 30 

 
Conversion Rate. If such evidence is provided, the Company shall instruct the Trustee to determine the Trading Price of the Securities beginning on the next
Trading Day and on each successive Trading Day until the Trading Price of the Securities is greater than or equal to 98% of the product of the Sale Price of the Common Stock and the Applicable Conversion Rate. 
 At the effective date of the transaction as set forth under clause (iii) above, the value of cash and/or shares of Common Stock delivered at
settlement will be based on the kind and amount of cash, securities or other property that the Holder would have received had the Holder converted its Security immediately prior to the transaction, subject to adjustment as set forth in
Section 4.07, in which case settlement of conversion of Securities will occur following the effective date of the transaction as set forth in Section 4.07. 
 (b) A Security in respect of which a Holder is electing to exercise its option to require repurchase upon a Fundamental Change pursuant to Section 3.08 may be converted only if such holder withdraws its election
in accordance with Section 3.08(c). A Holder of Securities is not entitled to any rights of a holder of Common Stock until such Holder has converted such Securities for Common Stock, and only to the extent such Securities are deemed to have
been converted for Common Stock under this Article 4. 
 Section 4.02. Conversion Rate. Each $1,000 principal amount of Securities
shall be convertible into 8.9259 shares of Common Stock (the “Conversion Rate”), subject to adjustment as provided in this Article 4. The Company may choose to deliver, in lieu of shares of Common Stock, cash or a combination of
cash and shares of Common Stock as set forth in Section 4.04. 
 Notwithstanding the foregoing, in no event shall the total number of
shares of Common Stock issuable upon conversion of the Securities exceed 11.6036 per 1,000 principal amount of Securities, subject to adjustment in the same manner as the Conversion Rate as set forth in Section 4.08(a). 
 Section 4.03. Conversion Procedures. To convert a Security, a Holder must (a) complete and manually sign the conversion notice on the back of
the Security (“Conversion Notice”) or a facsimile of the Conversion Notice and deliver such notice to a Conversion Agent, (b) surrender the Security to a Conversion Agent, (c) furnish appropriate endorsements and transfer
documents if required by a Registrar or a Conversion Agent, (d) pay any transfer or similar tax, if required and (e) pay funds equal to interest payable on the next interest payment date, if required. The date on which the Holder satisfies
all of those requirements is the “Conversion Date”. Anything herein to the contrary notwithstanding, in the case of Global Securities, Conversion Notices may be delivered and such Securities may be surrendered for conversion in
accordance with the Applicable Procedures as in effect from time to time. 
  

 31 

 The Person in whose name the Common Stock certificate is registered shall be deemed to be a stockholder
of record at 5:00 p.m., New York City time on the applicable Conversion Date; provided, however, that if the Conversion Date is a date when the stock transfer books of the Company are closed, such Person shall be deemed a
stockholder of record on the next date on which the stock transfer books of the Company are open; provided further that such conversion shall be at the Applicable Conversion Rate as if the stock transfer books of the Company had not been
closed on the Conversion Date. 
 Upon conversion of a Security, a Holder will not receive any cash payment of interest (unless such
conversion occurs between a Record Date and the related Interest Payment Date), and the Company will not adjust the Applicable Conversion Rate to account for accrued and unpaid interest on the Security being converted. Delivery to the Holder of the
full number of shares of Common Stock into which the Security is convertible, or cash or a combination of shares of Common Stock and cash, including at the Company’s election, any cash payment for fractional shares pursuant to
Section 4.06, will be deemed to satisfy the Company’s obligation with respect to such Security. Any accrued but unpaid interest will be deemed to be paid in full upon conversion rather than canceled, extinguished or forfeited. 

Holders of Securities at the close of business on a Record Date will receive payment of interest payable on the related Interest Payment Date
notwithstanding the conversion of such Securities at any time after 5:00 p.m., New York City time on the Record Date and prior to the related Interest Payment Date. Securities or portions thereof surrendered for conversion during the
period from 5:00 p.m., New York City time on a Record Date to 5:00 p.m., New York City time on the Business Day immediately preceding the related Interest Payment Date shall be accompanied by payment to the Company or its order,
in immediately available funds or other funds acceptable to the Company, of an amount equal to the interest payable on such Interest Payment Date with respect to the principal amount of Securities or portions thereof being surrendered for
conversion; provided that no such payment need be made (1) following 5:00 p.m., New York City time on the regular Record Date immediately preceding the final Interest Payment Date, (2) if the Company has specified a
Fundamental Change Repurchase Date that occurs during the period from 5:00 p.m., New York City time on a Record Date to 5:00 p.m., New York City time on the related Interest Payment Date, (3) to the extent any overdue
interest exists on the Conversion Date with respect to the Securities converted, but only to the extent of such overdue interest, or (4) if the Company has specified a Redemption Date that is after a Record Date and on or prior to the
corresponding Interest Payment Date. 
 If a Holder converts more than one Security at the same time, the number of shares of Common Stock
issuable upon the conversion shall be based on the aggregate principal amount of Securities converted. 
  

 32 

 Upon surrender of a Security that is converted in part, the Company shall execute, and the Trustee shall
authenticate and deliver to the holder, a new Security equal in principal amount to the principal amount of the unconverted portion of the Security surrendered. 
 Section 4.04 . Payment upon Conversion. Upon the conversion of a Security, subject to Section 4.03, the Company shall pay cash and/or deliver shares of Common Stock, as set forth below, to the Holder
through the Conversion Agent. No payment or adjustment shall be made for dividends on, or other distributions with respect to, any Common Stock except as provided in this Article 4. 
 (a) If the Company receives a Conversion Notice on or prior to the date that is twelve Scheduled Trading Days immediately preceding the Final Maturity
Date (the “Final Notice Date”), subject to Section 4.04(c) the following procedures shall apply: 
 If the Company
elects to satisfy all or any portion of its obligation to convert the Securities (the “Conversion Obligation”) in cash (a “Cash Election”), the Company will notify the Holder through the Trustee of the dollar amount
to be satisfied in cash (which shall be expressed either as 100% of the Conversion Obligation or as a fixed dollar amount) at any time on or before the date that is two Business Days following the Conversion Date (the “Cash Settlement Notice
Period”). If the Company timely makes a Cash Election, Holders of Securities may retract their Conversion Notices at any time during the two Business Day period following the final day of the Cash Settlement Notice Period (the
“Conversion Retraction Period”). Upon the expiration of a Conversion Retraction Period, a Conversion Notice shall be irrevocable. No such retraction can be made (and a Conversion Notice shall be irrevocable) if the Company does not
elect to deliver cash in lieu of Common Stock (other than cash in lieu of fractional shares). Settlement (in cash or in cash and shares of Common Stock) following a Cash Election will occur on the Business Day following the final day of the ten
Trading Day period beginning on the day after the final day of the Conversion Retraction Period (the “Cash Settlement Averaging Period”). 
 If the Company does not elect to satisfy any part of the Conversion Obligation in cash (other than cash in lieu of any fractional shares) (a “Share Election”), delivery of shares of Common Stock into
which the Securities are converted (and cash in lieu of any fractional shares) will be made through the Conversion Agent or the Depositary, as the case may be, as soon as practicable on or after the Conversion Date. 
  

 33 

 Settlement amounts will be computed as follows: 
 (i) If the Company makes a Share Election, it will deliver to Holders surrendering Securities for conversion a number of shares of Common
Stock equal to (a) the aggregate original principal amount of Securities to be converted divided by $1,000 multiplied by (b) the Applicable Conversion Rate. 
 (ii) If the Company makes a Cash Election and elects to satisfy its entire Conversion Obligation in cash, the Company will deliver to
Holders surrendering Securities for conversion cash in an amount equal to the product of: 
 (A) the aggregate principal
amount of Securities to be converted divided by $1,000; 
 (B) the Applicable Conversion Rate; and 
 (C) the sum of the Volume Weighted Average Price of the Common Stock divided by ten for each of the ten consecutive Trading Days in the
Cash Settlement Averaging Period. 
 (iii) If the Company makes a Cash Election and elects to satisfy in cash a fixed portion
(other than 100%) of the Conversion Obligation, the Company will deliver to Holders surrendering Securities for conversion, for each $1,000 principal amount of Securities, cash in any amount specified by the Company (“Specified Cash
Amount”) and a number of shares of Common Stock equal to the greater of (A) zero and (B) the excess, if any, of the number of shares of Common Stock calculated as if the Company elected to satisfy the entire conversion obligation
in shares of Common Stock over the number of shares of Common Stock equal to the sum of the quotients, calculated for each day of the ten Trading Days in the Cash Settlement Averaging Period, of (x) the Specified Cash Amount divided by the
number of days in the Cash Settlement Averaging Period divided by (y) the Volume Weighted Average Price of the Common Stock on such Trading Day. 
 (iv) If the Company irrevocably elects (“Irrevocable Election”) to satisfy the Conversion Obligation for the remaining term of the Securities in cash for up to 100% of the principal amount of
Securities converted, the Company will deliver to Holders, for each $1,000 principal amount of Securities surrendered for conversion, cash in an amount equal to the lesser of (A) $1,000 and (B) the Conversion Value (the “Required
Cash Amount”); and if the Conversion Value is greater than $1,000, a number of shares of Common Stock equal to the sum of the Daily Share Amounts for each of the ten Trading Days in the Cash Settlement Averaging Period, subject to the
Company’s right to deliver cash in lieu of all or a portion of such shares calculated in the manner set forth above. 
  

 34 

 The Company will pay cash for all fractional shares of Common Stock in an amount based on the Sale Price
of the Common Stock on the Trading Day immediately preceding the Conversion Date. 
 (b) If the Company receives a Conversion Notice after
the Final Notice Date, the following procedures shall apply: 
 If the Company makes a Cash Election, the Company will not send individual
notices of such election. Instead, if the Company makes a Cash Election, the Company will send a single notice to Holders indicating the dollar amount to be satisfied in cash (which shall be expressed either as 100% of the Conversion Obligation or
as a fixed dollar amount). Holders will not be allowed to retract their Conversion Notices. Settlement amounts will be computed and settlement dates will be determined in the same manner as set forth under paragraph (a) above, except that the
Cash Settlement Averaging Period shall be the ten consecutive Trading Day period beginning on the twelfth Scheduled Trading Day immediately preceding the Final Maturity Date. Settlement (in cash and/or shares of Common Stock) will occur on the
Business Day following the final day of such Cash Settlement Averaging Period. 
 (c) If the Company makes the Irrevocable Election, the
following procedures shall apply: 
 If the Company chooses to satisfy all or any portion of the Conversion Value in excess of $1,000 in
cash, the Company will provide notice of such election in the same manner as set forth above under either clause (a) or (b), as applicable. If the Company chooses to satisfy all of the Conversion Value in excess of $1,000 in shares of Common
Stock, notice of election to deliver cash for the principal amount will be deemed to have been provided on the last date of the Cash Settlement Notice Period and a Holder will not be allowed to retract its Conversion Notice. Settlement amounts will
be computed and settlement dates will be determined in the same manner as set forth above under either clause (a) or (b), as applicable. 
 Section 4.05. Exchange in Lieu of Conversion. (a) In lieu of its obligations pursuant to Section 4.04, the Company may, at its option, direct the Conversion Agent to surrender, on or prior to the commencement of the Cash
Settlement Averaging Period, Securities tendered for conversion to a financial institution (the “Financial Institution”) designated by the Company for exchange in lieu of conversion. In order to accept any Securities surrendered for
conversion, the Financial Institution must agree to deliver, in exchange for the Securities, cash, shares of Common Stock or a combination of cash and shares of Common Stock, 

  

 35 

 
equal to the consideration due upon conversion in accordance with Section 4.04 above. By 5:00 p.m., New York City time on the Trading Day
immediately preceding the start of the Cash Settlement Averaging Period, the Company will notify the Holder surrendering Securities for conversion that it has designated a Financial Institution to make an exchange in lieu of conversion and such
Financial Institution will be required to notify the Conversion Agent whether it will deliver, upon exchange, cash, shares of Common Stock or a combination of cash and shares of Common Stock. 
 If the Financial Institution accepts any such Securities, it shall deliver cash, shares of Common Stock, or combination of cash and Common Stock, as the
case may be, to the Conversion Agent and the Conversion Agent shall deliver such cash, shares of Common Stock, or combination of cash and Common Stock, as the case may be, to the Holder who has tendered such Securities for conversion. If the
Financial Institution agrees to accept any Securities for exchange but does not timely deliver the related consideration, or if the Financial Institution does not accept the Securities for exchange, the Company shall, as promptly as practical
thereafter, but not later than the third Trading Day immediately following the last day of the Cash Settlement Averaging Period, convert such Securities into cash, shares of Common Stock, or a combination of cash and shares of Common Stock, if any,
as provided in Section 4.04 above. 
 The Company’s designation of a financial institution to which the Securities may be submitted
for exchange does not require the institution to accept any Securities. The Company will not pay consideration to, or otherwise enter into any agreement with, the Financial Institution for or with respect to such designation. 
 Section 4.06. Cash Payments in Lieu of Fractional Shares. No fractional shares of Common Stock or scrip certificates representing fractional shares shall be
issued upon conversion of Securities. If more than one Security shall be surrendered for convert at one time by the same Holder, the number of full shares of Common Stock that shall be issuable upon conversion shall be computed on the basis of the
aggregate principal amount of the Securities (or specified portions thereof to the extent permitted hereby) so surrendered. 
 Section 4.07.
Adjustment of Conversion Rate. (a) The Conversion Rate shall be adjusted, and thereafter the Applicable Conversion Rate shall be adjusted, from time to time by the Company as follows: 
 (i) In case the Company shall issue shares of Common Stock as a dividend or distribution on its Common Stock or subdivide or combine its
outstanding Common Stock, the Applicable Conversion Rate shall be adjusted based on the following formula: 
  

 36 

 

 
 where, 
  

					
	CR0	  	=	  	the Applicable Conversion Rate in effect immediately prior to the Ex Date for such dividend or distribution or the effective
date of such subdivision or combination, as the case may
be;
			
	CR1	  	=	  	the Applicable Conversion Rate in effect immediately on and after the Ex Date for such dividend or distribution or the effective date of such subdivision or combination, as the case may
be;
			
	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the Ex Date for such dividend or distribution or the effective date of such subdivision or combination, as the case
may be; and
			
	OS1	  	=	  	the number of shares of Common Stock outstanding immediately on and after the Ex Date for such dividend or distribution or the effective date of such subdivision or combination, as the
case may be.

 Such adjustment shall become effective immediately after 9:00 a.m., New York City time,
on the Business Day following the Ex Date for such dividend, distribution, subdivision or combination. The Company will not pay any dividend or make any distribution on shares of Common Stock held in treasury by the Company. If any dividend or
distribution of the type described in this Section 4.07(a)(i) is declared but not so paid or made, or the outstanding shares of Common Stock are not subdivided or combined, as the case may be, the Conversion Rate shall again be adjusted to the
Conversion Rate which would then be in effect if such dividend, distribution, subdivision or combination had not been declared. 
 (ii) In case the Company shall issue rights or warrants to all holders of Common Stock entitling them (for a period expiring within 60 days from the date of issuance of such rights or warrants) to subscribe for or purchase shares of Common
Stock at a price per share that is less than the average Sale Prices of a share of Common Stock over the ten consecutive Trading Day period ending on and including the Trading Day immediately preceding the date of announcement of such
issuance, the Conversion Rate will be adjusted based on the following formula: 
  

 37 

 

 
 where, 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Ex Date for such event;
			
	CR1	  	=	  	the Conversion Rate in effect immediately on and after the Ex Date for such event;
			
	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the Ex Date for such event;
			
	X	  	=	  	the total number of shares of Common Stock issuable pursuant to such rights or warrants; and
			
	Y	  	=	  	the number of shares of Common Stock equal to the aggregate price payable to exercise such rights or warrants divided by the average sale prices of the Common Stock over the 10 consecutive
Trading Day period ending on and including the Trading Day immediately preceding the announcement of such issuance.

 Such adjustment shall be successively made whenever any such rights or warrants are issued and
shall become effective immediately after 9:00 a.m., New York City time, on the Business Day following the Ex Date of such issuance. To the extent that shares of Common Stock are not delivered pursuant to such rights or warrants upon
the expiration or termination of such rights or warrants, the Conversion Rate shall be readjusted to the Conversion Rate which would then be in effect had the adjustments made upon the issuance of such rights or warrants been made on the basis of
the delivery of only the number of shares of Common Stock actually delivered. In the event that such rights or warrants are not so issued, the Conversion Rate shall again be adjusted to be the Conversion Rate which would then be in effect if the
announcement with respect to such rights, warrants or convertible securities had not been made. 
 In determining whether any rights or
warrants entitle the holders to subscribe for or purchase shares of Common Stock at less than the average Sale Prices per share of Common Stock over the ten consecutive Trading Day period ending on and including the Trading Day immediately preceding
the date of announcement of such issuance, and in determining the aggregate price payable to exercise such rights or warrants of such shares of Common Stock, there shall be taken into account any consideration received by the Company for such rights
or warrants and any amount payable on exercise thereof, the value of such consideration, if other than cash, to be determined in good faith by the Board of Directors. 
  

 38 

 (iii) In case the Company shall dividend or distribute to all holders of its Common Stock
any securities (other than Common Stock), evidences of indebtedness, assets or properties (excluding (x) any dividend, distribution or issuance covered by clause (i) or (ii) of this Section 4.07(a) and (y) any dividend or
distribution paid exclusively in cash) (any of such shares of capital stock, evidence of indebtedness or assets hereinafter called the “Distributed Property”), then in each such case the Conversion Rate shall be adjusted based on
the following formula: 
 

 
 where, 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Ex Date for such distribution;
			
	CR1	  	=	  	the Conversion Rate in effect immediately on and after the Ex Date for such distribution;
			
	SP0	  	=	  	the Current Market Price of the Common Stock; and
			
	FMV	  	=	  	the fair market value (as determined in good faith by the Board of Directors of the Company) of the securities, evidences of indebtedness, assets or property dividended or distributed with
respect to each outstanding share of Common Stock on the Ex Date for such dividend or distribution.

 Such adjustment shall become effective
immediately prior to 9:00 a.m., New York City time, on the Business Day following the Ex Date; provided that if the then fair market value (as so determined) of the portion of the Distributed Property so distributed applicable
to one share of Common Stock is equal to or greater than SP0 as set forth above, in lieu of the foregoing
adjustment, adequate provision shall be made so that each Holder shall have the right to receive, for each $1,000 principal amount of Securities upon conversion, the amount of Distributed Property such Holder would have received had such Holder
owned a number of shares of Common Stock equal to the Conversion Rate on the record date. If such dividend or distribution is not so paid or made, the Conversion Rate shall again be adjusted to be the Conversion Rate that would then be in effect if
such record date had not been fixed. If the Board of Directors determines the fair market value of any distribution for purposes of this Section 4.07(a)(iii) by reference to the actual or when issued trading market for any securities, it shall in
doing so consider the prices in such market over the same period used in computing the Current Market Price. 
 With respect to an adjustment
pursuant to this clause (iii) where there has been a payment of a dividend or other distribution on the Common Stock or 

  

 39 

 
shares of capital stock of, or similar equity interests of, a Subsidiary or other business unit of the Company (a “Spin-Off”, and any such
dividend or distribution of Common Stock, shares of capital stock or equity interests being “Spin-Off Securities”), in which event the Conversion Rate will be adjusted based on the following formula: 
 

 
 where, 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to 5:00 p.m. on the 15th Trading Day immediately following, and
including, the effective date of the Spin-Off;
			
	CR1	  	=	  	the Conversion Rate in effect immediately from and after 5:00 p.m. on the 15th Trading Day immediately following, and including, the effective date of the Spin-Off;
			
	FMV0	  	=	  	the average of the sale prices of the capital stock or similar equity interest distributed to holders of Common Stock applicable to one share of Common Stock over the 10 consecutive Trading Days
commencing on and including the fifth Trading Day after the effective date of the Spin-Off; and
			
	MP0	  	=	  	the average of the sale prices of the Common Stock over the 10 consecutive Trading Days commencing on and including the fifth Trading Day after the effective date of the
Spin-Off.

 Such adjustment shall occur at the Close of Business on the 10th Trading Day from, and including,
the effective date of the Spin-Off; provided, however, that the Company may in lieu of the foregoing adjustment elect to make adequate provision so that each Holder of Securities shall have the right to receive upon conversion thereof the
amount of such Spin-Off Securities that such Holder of Securities would have received if such Securities had been converted on the record date with respect to such distribution. 
 In the event that the Company has in effect a preferred shares rights plan (“Rights Plan”), upon conversion of the Securities for Common
Stock, to the extent that the Rights Plan is still in effect upon such conversion, the Holders of Securities will receive, in addition to the Common Stock, the rights described therein (whether or not the rights have separated from the Common Stock
at the time of conversion), subject to the limitations set forth in the Rights Plan. If the Rights Plan provides that upon separation of rights under such plan from the Common Stock that the Holders would not be entitled to receive any such rights
in respect of the Common Stock issuable upon conversion for the Securities, the Conversion Rate will be adjusted at the time of separation as provided in this 

  

 40 

 
Section 4.07(a)(iii) (with such separation deemed to be the distribution of such rights), subject to readjustment in the event of the expiration,
termination or redemption of the rights. Any distribution of rights or warrants pursuant to a Rights Plan that would allow a Holder to receive upon conversion, in addition to the Common Stock, the rights described therein (whether or not the rights
have separated from the Common Stock at the time of conversion), shall not constitute a distribution of rights or warrants pursuant to this Section 4.07. 
 Rights or warrants distributed by the Company to all holders of Common Stock entitling the holders thereof to subscribe for or purchase shares of capital stock (either initially or under certain circumstances), which
rights or warrants, until the occurrence of a specified event or events (“Trigger Event”), (i) are deemed to be transferred with such shares of Common Stock, (ii) are not exercisable and (iii) are also issued in
respect of future issuances of Common Stock, shall be deemed not to have been distributed for purposes of this Section 4.07 (and no adjustment to the Conversion Rate under this Section 4.07 will be required) until the occurrence of the
earliest Trigger Event, whereupon such rights and warrants shall be deemed to have been distributed and an appropriate adjustment (if any is required) to the Conversion Rate shall be made under this clause (iii) of Section 4.07. If any
such right or warrant, including any such existing rights or warrants distributed prior to the date of this Indenture, are subject to events, upon the occurrence of which such rights or warrants become exercisable to purchase different securities,
evidences of indebtedness or other assets, then the date of the occurrence of any and each such event shall be deemed to be the date of distribution and record date with respect to new rights or warrants with such rights (and a termination or
expiration of the existing rights or warrants without exercise by any of the holders thereof). In addition, in the event of any distribution (or deemed distribution) of rights or warrants, or any Trigger Event or other event (of the type described
in the preceding sentence) with respect thereto that was counted for purposes of calculating a distribution amount for which an adjustment to the Conversion Rate under this Section 4.07 was made, (1) in the case of any such rights or
warrants which shall all have been repurchased without exercise by any holders thereof, the Conversion Rate shall be readjusted upon such repurchase to give effect to such distribution or Trigger Event, as the case may be, as though it were a cash
distribution, equal to the per share repurchase price received by a holder or holders of Common Stock with respect to such rights or warrants (assuming such holder had retained such rights or warrants), made to all holders of Common Stock as of the
date of such repurchase, and (2) in the case of such rights or warrants which shall have expired or been terminated without exercise by any holders thereof, the Conversion Rate shall be readjusted as if such rights and warrants had not been
issued. 
 (iv) In case the Company shall, by dividend or otherwise, at any time distribute (a “Triggering Distribution”) to
all holders of its Common Stock cash, the Conversion Rate shall be adjusted based on the following formula: 
  

 41 

 

 
 where, 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Ex Date for such distribution;
			
	CR1	  	=	  	the Conversion Rate in effect immediately on and after the Ex Date for such distribution;
			
	SP0	  	=	  	the Current Market Price of the Common Stock; and
			
	C	  	=	  	the amount in cash per share distributed by the Company to holders of the Common Stock.

 Such adjustment shall become effective
immediately after 5:00 p.m., New York City time, on the Ex Date for such Triggering Distribution; provided that if the portion of the cash so distributed applicable to one share of Common Stock is equal to or greater than
SP0 as set forth above, in lieu of the foregoing adjustment, adequate provision shall be made so that each Holder
shall have the right to receive, for each $1,000 principal amount upon conversion, the amount of cash such Holder would have received had such Holder owned a number of shares of Common Stock equal to the Conversion Rate on the record date. If such
Triggering Distribution is not so paid or made, the Conversion Rate shall again be adjusted to be the Conversion Rate that would then be in effect if such dividend or distribution had not been declared. 
 For the avoidance of doubt, for purposes of this Section 4.07(a)(iv), in the event of any reclassification of the Common Stock, as a result of which the
Securities become convertible into more than one class of Common Stock, if an adjustment to the Conversion Rate is required pursuant to this Section 4.07(a)(iv), references in this Section to one share of Common Stock or Current Market Price of
one share of Common Stock shall be deemed to refer to a unit or to the price of a unit consisting of the number of shares of each class of Common Stock into which the Securities are then convertible equal to the numbers of shares of such class
issued in respect of one share of Common Stock in such reclassification. The above provisions of this paragraph shall similarly apply to successive reclassifications. 
 It is expressly understood that a stock buyback, repurchase or similar transaction or program shall in no event be considered a distribution for purposes of clauses (iii) and (iv) of Section 4.07.

  

 42 

 (v) In case the Company or one or more of its Subsidiaries shall purchase any shares of
Common Stock by means of a tender offer or exchange offer by the Company or one of its Subsidiaries for the Common Stock (other than Exchange Offers not subject to Rule 13e-4 of the Exchange Act), to the extent that the cash and value of any
other consideration included in the payment per share of Common Stock exceeds the average Sale Prices of a share of Common Stock over the 10 consecutive Trading Days commencing on and including the Trading Day immediately succeeding the last date on
which tenders or exchanges may be made pursuant to such tender or exchange offer (the “Expiration Date”), the Conversion Rate shall be adjusted based on the following formula: 
 

 
 where, 
  

					
	CR0	  	=	  	the Conversion Rate in effect at the close of business on the Expiration Date;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the Expiration Date;
			
	FMV	  	=	  	the fair market value (as determined in good faith by the Board of Directors of the Company) of the aggregate value of all cash and any other consideration paid or payable for shares validly
tendered or exchanged and not withdrawn as of the Expiration Date;
			
	OS1	  	=	  	the number of shares of the Common Stock outstanding immediately after the Expiration Date (after giving effect to the purchase or exchange of shares pursuant to such tender or exchange
offer);
			
	OS0	  	=	  	the number of shares of Common Stock outstanding immediately after the Expiration Date (without giving effect to the purchase or exchange of shares pursuant to such tender or exchange
offer); and
			
	SP1	  	=	  	the average of the sale prices a share of Common Stock for the 10 consecutive Trading Days commencing on and including the Trading Day immediately succeeding the Expiration
Date.

  

 43 

 The adjustment to the Conversion Rate under this Section 4.07(a)(v) shall occur on the tenth Trading
Day from, and including, the Trading Day next succeeding the date such tender or exchange offer expires. 
 In the event that the Company is
obligated to purchase shares pursuant to any such tender offer, but the Company is permanently prevented by applicable law from effecting any or all such purchases or any or all such purchases are rescinded, the Conversion Rate shall again be
adjusted to be the Conversion Rate which would have been in effect based upon the number of shares actually purchased. If the application of this clause (v) of Section 4.07(a) to any tender or exchange offer would result in a decrease in
the Conversion Rate, no adjustment shall be made for such tender or exchange offer under this Section 4.07(a)(v). 
 (b) No adjustment
in the Conversion Rate shall be made: 
 (i) unless such adjustment would require a change of at least 1% in the Applicable
Conversion Rate, provided, however, the Company shall carry forward any adjustments that are less than 1% of the Conversion Rate and take them into account in any subsequent adjustment of the Conversion Rate or in connection with any
conversion of the Securities; 
 (ii) for any issuance of Common Stock or convertible or exchangeable securities or rights to
purchase Common Stock or convertible of exchangeable securities, except in accordance with Section 4.07(a) above; or 
 (iii) if the Holders are permitted to participate, without converting their Securities, in the transactions described in clauses (i) through (v) of Section 4.07(a) above that would otherwise require adjustment of the
Conversion Rate. 
 (c) The Company may, from time to time, and to the extent permitted by law and subject to applicable rules of the NASDAQ
Global Select Market, increase the Conversion Rate by any amount for any period of at least 20 days. Whenever the Conversion Rate is increased pursuant to the preceding sentence, the Company shall give notice of the increase to the Holders in the
manner provided in Section 4.07, with a copy to the Trustee and Conversion Agent, at least 15 days prior to the date the increased Conversion Rate takes effect, and such notice shall state the increased Conversion Rate and the period during
which it will be in effect. The Company may also, in its discretion, increase the Conversion Rate, to avoid or diminish any income tax to any holders of shares of Common Stock resulting from any dividend or distribution of stock (or rights to
acquire stock) or from any event treated as such for income tax purposes. 
  

 44 

 Section 4.08. Make-Whole Adjustment. (a) If a transaction described in clause (a) or
(b) of the definition of Change of Control, excluding a Change of Control in clause (b) where the exception relating to a transaction involving consideration of at least 95% publicly traded securities, occurs, and a Holder elects to
convert its Securities in connection with such transaction, the Company will increase the applicable Conversion Rate for the Securities surrendered for conversion by a number of additional shares of Common Stock (the “Additional
Shares”) in accordance with this Section 4.08(a). 
 Any conversion occurring at a time when the Securities would be
convertible in light of the expected or actual occurrence of a transaction described in clauses (a) or (b) of the definition of Change of Control will be deemed to have occurred in connection with such Change of Control, notwithstanding
the fact that a Security may then also be convertible because another condition to conversion has been satisfied. 
 The number of Additional
Shares shall be determined by reference to the table below, based on the Effective Date of the transaction described in clauses (a) or (b) of the definition of Change of Control and the price (the “Stock Price”) paid per
share of Common Stock in such transaction. If the holders of Common Stock receive only cash in the Change of Control transaction, the Stock Price shall be the cash amount paid per share of Common Stock. Otherwise, the Stock Price shall be the
average of the Sale Prices of a share of Common Stock over the 10 consecutive Trading Day period ending on and including the Trading Day immediately preceding the Effective Date. 
 The Stock Prices set forth in the first row of the table below shall be adjusted as of any date on which the Conversion Rate of the Securities is
adjusted in accordance with Section 4.07 hereof. The adjusted Stock Prices shall equal the Stock Prices applicable immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the Conversion Rate immediately prior
to the adjustment giving rise to the Stock Price adjustment and the denominator of which is the Conversion Rate as so adjusted. The number of Additional Shares shall be adjusted in the same manner and for the same events as the Conversion Rate as
set forth in Section 4.07 hereof. 
  

 45 

 The following table sets forth the Stock Price and number of Additional Shares to be received per $1,000
principal amount of Securities: 
  

																									
	 Additional Shares Issued For
Make-Whole per Note (Par of $1,000)

	 Change of Control
Effective Date
	  	Effective Price
	  	$86.18	  	$95.00	  	$105.00	  	$115.00	  	$125.00	  	$135.00	  	$145.00	  	$155.00	  	$165.00	  	$180.00	  	$200.00	  	$220.00
	 March 30, 2007
	  	2.6777	  	2.1749	  	1.7488	  	1.4308	  	1.1896	  	1.0040	  	0.8592	  	0.7449	  	0.6536	  	0.5484	  	0.4487	  	0.3790
	 April 15, 2008
	  	2.6055	  	2.0583	  	1.5995	  	1.2624	  	1.0118	  	0.8236	  	0.6808	  	0.5714	  	0.4870	  	0.3936	  	0.3105	  	0.2563
	 April 15, 2009
	  	2.5439	  	1.9339	  	1.4245	  	1.0553	  	0.7875	  	0.5938	  	0.4545	  	0.3541	  	0.2827	  	0.2107	  	0.1552	  	0.1245
	 April 15, 2010
	  	2.5409	  	1.8629	  	1.2880	  	0.8540	  	0.5175	  	0.2552	  	0.0739	  	0.0084	  	0.0003	  	0.0000	  	0.0000	  	0.0000
	 April 15, 2011
	  	2.5148	  	1.7470	  	1.1316	  	0.7048	  	0.4032	  	0.1865	  	0.0481	  	0.0048	  	0.0002	  	0.0000	  	0.0000	  	0.0000
	 April 15, 2012
	  	2.6777	  	1.6005	  	0.5979	  	0.0000	  	0.0000	  	0.0000	  	0.0000	  	0.0000	  	0.0000	  	0.0000	  	0.0000	  	0.0000

 The exact Stock Price and effective dates may not be set forth on the table, in which case:

 (i) if the Stock Price is between two Stock Price amounts on the table or the effective date is between two dates on the
table, the number of Additional Shares will be determined by straight-line interpolation between the number of Additional Shares set forth for the higher and lower stock prices and the earlier and later effective dates, as applicable, based on a
365-day year; 
 (ii) if the Stock Price is greater than $220.00 per share (subject to adjustment), no increase will be made
to the Conversion Rate; and 
 (iii) if the Stock Price is less than $86.18 per share (subject to adjustment), no
increase will be made to the Conversion Rate. 
 Notwithstanding the foregoing, in no event shall the total number of Additional Shares of
Common Stock issuable upon conversion of a Security exceed 11.6036 per $1,000 principal amount of Securities, subject to adjustments in the same manner as the Conversion Rate as set forth in Section 4.07. 
 (b) If, pursuant to Section 4.08(a), the Company is required to increase the Conversion Rate by the Additional Shares: 
 (i) if the Company does not elect to deliver cash to settle any portion of the Conversion Obligation and it does not make an Irrevocable
Election, Securities surrendered for conversion will be settled as follows: 
 (A) If the date on which the Securities are
surrendered for conversion is prior to the third Trading Day preceding the effective date of the Change of Control (the “Cut-off Date”), the Company shall settle such conversion by delivering the number of shares of Common Stock
(based on the Conversion Rate without regard to the number of Additional Shares to be added to the Conversion Rate pursuant to Section 4.08(a)) on the third Trading 

  

 46 

 
Day immediately following the Cut-off Date. In addition, as soon as practicable following the effective date of the Change of Control (but in any event
within three Trading Days of such effective date), the Company shall deliver the number of Additional Shares to be added to the Conversion Rate as described above, if any, or the equivalent of such shares in Reference Property, as applicable.

 (B) If the date on which the Securities are surrendered for conversion is on or following the Cut-off Date, the Company
shall settle such conversion (based on the Conversion Rate as increased by the Additional Shares described above) on the third Trading Day immediately following the Conversion Date by delivering the number of shares of Common Stock (based on the
Conversion Rate without regard to the number of Additional Shares to be added to the Conversion Rate pursuant to Section 4.08(a)) plus the number of Additional Shares to be added to the Conversion Rate as set forth in Section 4.08(a), if
any, or the equivalent of such shares in Reference Property, as applicable. 
 (ii) if the Company elects to deliver cash in
respect of all or a portion or the Conversion Obligation or it makes an Irrevocable Election, Securities surrendered for conversion will be settled as follows: 
 (A) If the last day of the applicable Cash Settlement Averaging Period related to the Securities surrendered for conversion is prior to
the Cut-off Date, the Company shall settle such conversion pursuant to Section 4.04 by delivering the amount of cash and shares of the Common Stock, if any (based on the Conversion Rate without regard to the number of Additional Shares to be
added to the Conversion Rate pursuant to Section 4.08(a)), on the third Trading Day immediately following the last day of the applicable Cash Settlement Averaging Period. In addition, as soon as practicable following the effective date of the
Change of Control (but in any event within three Trading Days of such effective date), the Company shall deliver the increase in such amount of cash and Additional Shares (or the equivalent in Reference Property, if applicable), if any, as if the
Conversion Rate had been increased by such number of Additional Shares during the related Cash Settlement Averaging Period (and based upon the related Conversion Value). If such increased amount results in an increase to the amount of cash to be
paid to the Holders, the Company shall pay such increase in cash, and if such increased settlement amount results in an increase to the number of shares of the Common Stock to be paid to the Holders, the 

  

 47 

 
Company shall deliver such increase by delivering shares of the Common Stock (or, if applicable, Reference Property based on such increased number of
shares). 
 (B) If the last day of the applicable Cash Settlement Averaging Period related to Securities surrendered for
conversion is on or following the Cut-off Date, the Company shall settle such conversion pursuant to Section 4.04 (based on the Conversion Rate as increased by the Additional Shares) on the later to occur of (i) the effective date of the
transaction and (ii) the third Trading Day immediately following the last day of the applicable Cash Settlement Averaging Period. 
 For
the avoidance of doubt, if Securities are surrendered for conversion in connection with an anticipated Change of Control and such Change of Control does not in fact occur, no Additional Shares will be added to the Conversion Rate and no additional
cash or Reference Property will be paid as a result of the related anticipated Change of Control. 
 Section 4.09. Notice of Adjustment in
Conversion Rate. Whenever the Conversion Rate is adjusted pursuant to Sections 4.07 or 4.08: 
 (a) the Company shall compute the
adjusted Conversion Rate in accordance with Sections 4.07 or 4.08 and shall prepare an Officers’ Certificate setting forth (i) the adjusted Conversion Rate, (ii) the clause of Section 4.07 or 4.08 pursuant to which such
adjustment has been made, showing in reasonable detail the facts upon which such adjustment is based, (iii) the calculation of such adjustment and (iv) the date as of which such adjustment is effective, and such certificate shall promptly
be filed with the Trustee and with each Conversion Agent; and 
 (b) upon each such adjustment, a notice stating that the Conversion
Rate has been adjusted and setting forth the adjusted Conversion Rate shall be required, and as soon as practicable after it is required, such notice shall be provided by the Company to all Holders of record of the Securities in accordance with
Section 12.02. 
 Unless and until a Responsible Officer of the Trustee shall have received an Officers’ Certificate in accordance
with this Section 4.09, the Trustee shall not be deemed to have knowledge of any adjustment of the Conversion Rate and may assume that the last Conversion Rate of which it has knowledge is still in effect. 
 Neither the Trustee nor any Conversion Agent shall be under any duty or responsibility with respect to any such certificate or the information and
calculations contained therein, except to exhibit the same to any Holder of Securities desiring inspection thereof at its office during normal business hours. 
  

 48 

 Section 4.10. Effect of Reclassification, Consolidation, Merger or Sale. If any of the following
events occur, namely (i) any recapitalization, reclassification or other similar change in the outstanding shares of Common Stock (other than changes resulting from a subdivision or combination), (ii) any consolidation, merger or
combination of the Company with another Person, (iii) the Company is a party to a statutory share exchange, or (iv) any sale, lease or other conveyance of all or substantially all of the assets of the Company to any other Person, in each
case, as a result of which holders of Common Stock shall be entitled to receive stock, other securities, other property or assets (including cash or any combination thereof) with respect to or in exchange for such Common Stock, the Holders of the
Securities then outstanding will be entitled thereafter to convert such Securities into the kind and amount of shares of stock, other securities or other property or assets (including cash or any combination thereof) that they would have owned or
been entitled to receive (the “Reference Property”) upon such recapitalization, reclassification, change, consolidation, merger, combination, sale, lease, transfer or statutory share exchange had such Securities not been converted
into Common Stock immediately prior to such transaction. 
 In the event the holders of Common Stock have the opportunity to elect the form
of consideration to be received in such transaction, the Company shall make adequate provision whereby the Securities shall be convertible from and after the effective date of such transaction into the form of consideration elected by a majority of
the Company’s stockholders in such transaction; provided, however, at and after the effective time of the transaction, any amount otherwise payable in cash upon conversion of the Securities will continue to be payable in cash, and the
Daily Share Amount will be calculated based on the value of the Reference Property and shall be payable in the form of consideration elected by a majority of the Company’s stockholders in such transaction. The Company hereby agrees not to
become a party to any such transaction unless its terms are consistent with the foregoing. 
 The above provisions of this Section shall
similarly apply to successive recapitalizations, reclassifications, changes, consolidations, mergers, combinations, sales and conveyances. 
 Section 4.11. Taxes on Shares Issued. The issue of stock certificates on convert for Securities shall be made without charge to the Holder thereof for any documentary, stamp or similar issue or transfer tax in respect of the issue
thereof. The Company shall not, however, be required to pay any such tax which may be payable in respect of any transfer involved in the issue and delivery of stock in any name other than that of the Holder of any Security converted, and the Company
shall not be required to issue or deliver any such stock certificate unless 

  

 49 

 
and until the Person or Persons requesting the issue thereof shall have paid to the Company the amount of such tax or shall have established to the
satisfaction of the Company that such tax has been paid. 
 Section 4.12. Reservation of Shares, Shares; Listing and Compliance. The
Company shall reserve and keep available, free from preemptive rights, out of its authorized but unissued shares or shares held in treasury, sufficient shares of Common Stock to provide for the conversion of Securities from time to time as such
Securities are presented for conversion. 
 Before taking any action which would cause an adjustment increasing the Conversion Rate to an
amount that would cause the Conversion Price to be reduced below the then par value, if any, of the shares of Common Stock issuable upon conversion of the Securities, the Company shall take all corporate action which may, in the opinion of its
counsel, be necessary in order that the Company may validly and legally issue shares of such Common Stock at such adjusted Conversion Rate. 
 The Company covenants that all shares of Common Stock which may be issued upon conversion of Securities will upon issue be fully paid and non-assessable by the Company and free from all taxes, liens and charges with respect to the issue by
the Company thereof, except as set forth in Section 4.11. 
 The Company covenants that, if any shares of Common Stock to be provided
for the purpose of conversion of Securities hereunder require registration with or approval of any governmental authority under any federal or state law before such shares may be validly issued upon conversion, the Company will in good faith and as
expeditiously as possible, to the extent then permitted by the rules and interpretations of the SEC (or any successor thereto), endeavor to secure such registration or approval, as the case may be. 
 The Company further covenants that, if at any time the Common Stock shall be listed on the NASDAQ Global Select Market or any other national securities
exchange or automated quotation system, the Company shall, if permitted by the rules of such exchange or automated quotation system, list and keep listed, so long as the Common Stock shall be so listed on such exchange or automated quotation system,
all Common Stock issuable upon conversion of the Securities. 
 Section 4.13. Responsibility of Trustee. The Trustee and any other
Conversion Agent shall not at any time be under any duty or responsibility to any Holder of Securities to determine the Conversion Rate or whether any facts exist which may require any adjustment of the Conversion Rate, or with respect to the nature
or extent or calculation of any such adjustment when made, or with respect to the method employed, or herein or in any supplemental indenture provided to 

  

 50 

 
be employed, in making the same. The Trustee and any other Conversion Agent shall not be accountable with respect to the validity or value (or the kind or
amount) of any shares of Common Stock, or of any securities or property, which may at any time be issued or delivered upon the conversion of any Security; and the Trustee and any other Conversion Agent make no representations with respect
thereto. Neither the Trustee nor any Conversion Agent shall be responsible for any failure of the Company to issue, transfer or deliver any shares of Common Stock or stock certificates or other securities or property or cash upon the surrender of
any Security for the purpose of conversion or to comply with any of the duties, responsibilities or covenants of the Company contained in this Article 4. 
 ARTICLE 5 
 SUBORDINATION 
 Section 5.01. Securities Subordinated to Senior Indebtedness. The Company agrees, and each Holder by accepting a Security agrees, that the
Indebtedness evidenced by the Securities (including the principal of, premium, if any, interest and any Extension Fee on all the Securities and the Redemption Price with respect to any Securities being called for redemption and the Fundamental
Change Repurchase Price with respect to all Securities subject to repurchase pursuant to Section 3.08 hereof) is subordinated in right of payment, to the extent and in the manner provided in this Article 5, to the prior payment in full of all
Senior Indebtedness (whether outstanding on the date hereof or hereafter created, incurred, assumed or guaranteed). 
 Section 5.02.
Liquidation; Dissolution; Bankruptcy. In the event of any payment or distribution of assets of the Company upon any dissolution winding up, liquidation or reorganization of the Company, whether in bankruptcy, insolvency, reorganization or
receivership proceedings or upon an assignment for the benefit of creditors or any other marshalling of the assets and liabilities of the Company: 
 (a) holders of Senior Indebtedness shall first be entitled to receive payment in full of all Obligations due in respect of such Senior Indebtedness (including interest after the commencement of any such proceeding at the rate specified in
the applicable Senior Indebtedness) or provision shall be made for such amount in cash, or other payments satisfactory to the holders of Senior Indebtedness, before Holders of the Securities shall be entitled to receive any payment with respect to
the Securities; and 
 (b) until all Obligations with respect to Senior Indebtedness (as provided in paragraph (a) above) are paid
in full, any distribution to which Holders would be entitled but for this Article 5 shall be made to holders of Senior Indebtedness (except that Holders of Securities may receive Permitted Junior Securities), as their interests may appear.

  

 51 

 Section 5.03. Default on Senior Indebtedness and Designated Senior Indebtedness. 
 (a) The Company may not make any payment of principal or interest on the Securities to the Trustee or any Holder in respect of Obligations with respect
to the Securities if a default in the payment of any principal or other Obligations with respect to Senior Indebtedness occurs, by reason of acceleration or otherwise, and is continuing beyond any applicable grace period in the agreement, indenture
or other document governing such Senior Indebtedness until all principal and other Obligations with respect to the Senior Indebtedness have been cured or waived or ceased to exist. 
 (b) During the continuance of any event of default with respect to any Designated Senior Indebtedness (other than a default in payment of the principal
of, premium, if any, or interest on, rent or other payment obligations in respect of any Designated Senior Indebtedness), permitting the holders thereof to accelerate the maturity thereof (or, in the case of any lease, permitting the landlord either
to terminate the lease or to require the Company to make an irrevocable offer to terminate the lease following an event of default under such lease), no payment may be made by the Company, directly or indirectly, with respect to principal of or
interest on the Securities for a period (a “Payment Blockage Period”) commencing upon the receipt by the Trustee of written notice (a “Payment Blockage Notice”) of such default from persons entitled to give such
notice under any agreement pursuant to which that Designated Senior Indebtedness may have been issued, that such an event of default has occurred and is continuing and ending on the earlier of: (i) 179 days from the date the Trustee shall have
received the Payment Blockage Notice, (ii) the date such event of default has been cured or waived or ceases to exist, or (iii) the date such Payment Blockage Period shall have been terminated by written notice to the Company or the
Trustee from the person initiating such Payment Blockage Period. 
 The Company may resume payments on the Securities after the end of the
Payment Blockage Period unless the holders of such Designated Senior Indebtedness or the representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness. 
 (c) Not more than one Payment Blockage Notice may be given in any consecutive 365-day period, irrespective of the number of defaults with respect to one
or more issues of Designated Senior Indebtedness during such period. No nonpayment default that existed or was continuing on the date of delivery of any Payment Blockage Notice to the Trustee will be, or can be made, the basis for the commencement
of a subsequent Payment Blockage Period whether or not within 

  

 52 

 
a period of 365 consecutive days. In no event may the total number of days during which any Payment Blockage Period is in effect exceed 179 days in the
aggregate in any consecutive 365-day period. 
 Section 5.04. Acceleration of Securities. If payment of the Securities is accelerated
because of an Event of Default, unless the full amount in respect of all Senior Indebtedness is paid in cash or other payment satisfactory to the holders of Senior Indebtedness, no payment shall be made by the Company with respect to the principal
of, or interest on, on the Securities or upon conversion or repurchase of any of the Securities, and the Company shall promptly notify holders of Senior Indebtedness of the acceleration. 
 Section 5.05. When Distribution Must Be Paid Over. In the event that the Trustee or any Holder receives any payment of any Obligations or
distribution of assets of the Company of any kind or character (other than Permitted Junior Securities pursuant to Article 5 hereof), whether in cash, property or securities (including, without limitation, by way of setoff or otherwise) with respect
to the Securities at a time when the Trustee or such Holder, as applicable, has actual knowledge that such payment is prohibited by Section 5.03 hereof, such payment shall be held by the Trustee or such Holder, in trust for the benefit of, and
shall be paid forthwith over and delivered, upon written request, to, the holders of Senior Indebtedness as their interests may appear or their Representative under the indenture or other agreement (if any) pursuant to which Senior Indebtedness may
have been issued, as their respective interests may appear, for application to the payment of all Obligations with respect to Senior Indebtedness remaining unpaid to the extent necessary to pay such Obligations in full in accordance with their
terms, after giving effect to any concurrent payment or distribution to or for the holders of Senior Indebtedness. 
 With respect to the
holders of Senior Indebtedness, the Trustee undertakes to perform only such obligations on the part of the Trustee as are specifically set forth in this Article 5, and no implied covenants or obligations with respect to the holders of Senior
Indebtedness shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness, and shall not be liable to any such holders if the Trustee shall pay over or
distribute to or on behalf of Holders or the Company or any other Person money or assets to which any holders of Senior Indebtedness shall be entitled by virtue of this Article 5. 
 Section 5.06. Notice by Company. The Company shall promptly notify the Trustee and the Paying Agent of any facts known to the Company that would
cause a payment of any Obligations with respect to the Securities to violate this Article 5, but failure to give such notice shall not affect the subordination of the Securities to the Senior Indebtedness as provided in this Article 5. 

 

 53 

 Section 5.07. Subrogation. After all Senior Indebtedness is paid in full in cash or other payment
satisfactory to the holders of the Senior Indebtedness and until the Securities are paid in full, Securityholders shall be subrogated (equally and ratably with all other Indebtedness pari passu with the Securities and entitled to similar
rights of subrogation) to the rights of holders of Senior Indebtedness to receive payments or distributions applicable to Senior Indebtedness to the extent that payments or distributions otherwise payable to the Securityholders have been applied to
the payment of Senior Indebtedness. A distribution made under this Article 5 to holders of Senior Indebtedness that otherwise would have been made to Securityholders (whether by the Company, any Holder, the Trustee or otherwise) is not, as between
the Company and Holders, a payment by the Company on the Securities. 
 Section 5.08. Relative Rights. This Article 5 defines the
relative rights of Holders of Securities and holders of Senior Indebtedness. Nothing in this Indenture shall: 
 (a) impair, as between the
Company and Securityholders, the obligation of the Company, which is absolute and unconditional, to pay principal of, premium, if any, and interest on the Securities in accordance with their terms; 
 (b) affect the relative rights of Securityholders and creditors of the Company other than their rights in relation to holders of Senior
Indebtedness; or 
 (c) prevent the Trustee or any Securityholder from exercising its available remedies upon a Default or Event of
Default, subject to the rights of holders and owners of Senior Indebtedness to receive distributions and payments otherwise payable to Holders of Securities. 
 If the Company fails because of this Article 5 to pay principal of, premium, if any, interest or any Extension Fee on a Security on the due date, the failure is still a Default or Event of Default. 
 Section 5.09. Subordination May Not Be Impaired by Company. No right of any holder of Senior Indebtedness to enforce the subordination of the
Indebtedness evidenced by the Securities shall be impaired by any act or failure to act by the Company or any Holder or by the failure of the Company or any Holder to comply with this Indenture. 
 Section 5.10. Distribution or Notice to Representative. Whenever a distribution is to be made or a notice given to holders of Senior Indebtedness,
the distribution may be made and the notice given to their Representative. Upon any payment or distribution of assets of the Company referred to in this Article 5, the Trustee and the Holders of Securities shall be entitled to rely upon any order or
decree made by any court of competent jurisdiction or upon any certificate of 

  

 54 

 
such Representative or of the liquidating trustee or agent or other Person making any distribution to the Trustee or to the Holders of Securities for the
purpose of ascertaining the Persons entitled to participate in such distribution, the holders of the Senior Indebtedness, Designated Senior Indebtedness and other Indebtedness of the Company, the amount thereof or payable thereon, the amount or
amounts paid or distributed thereon and all other facts pertinent thereto or to this Article 5. 
 Section 5.11. Rights of Trustee and
Paying Agent. Notwithstanding the provisions of this Article 5 or any other provision of this Indenture, the Trustee shall not be charged with knowledge of the existence of any facts that would prohibit the making of any payment or distribution
by the Trustee, and the Trustee and the Paying Agent may continue to make payments on the Securities, unless the Trustee shall have received at its Corporate Trust Office at least two Business Days prior to the date of such payment written notice of
facts that would cause the payment of any Obligations with respect to the Securities to violate this Article 5. Only the Company, a Representative or a holder of Designated Senior Indebtedness may give the notice. Nothing in this Article 5 shall
impair the claims of, or payments to, the Trustee under or pursuant to Section 9.07 hereof. 
 The Trustee in its individual or any
other capacity may hold Senior Indebtedness with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. 
 Section 5.12. Authorization to Effect Subordination. Each Securityholder, by the Holder’s acceptance thereof, authorizes and directs the Trustee on such Holder’s behalf to take such action as may be necessary or appropriate
to effectuate the subordination as provided in this Article 5, and appoints the Trustee to act as such Holder’s attorney-in-fact for any and all such purposes. If the Trustee does not file a proper proof of claim or proof of debt in the form
required in any proceeding referred to in Section 8.09 hereof at least 30 days before the expiration of the time to file such claim, the holders of any Designated Senior Indebtedness are hereby authorized to file an appropriate claim for and on
behalf of the Securityholders. 
 Section 5.13. Amendments. The provisions of this Article 5 shall not be amended or modified in any
manner adverse to the holders of Senior Indebtedness without the written consent of the holders of all Senior Indebtedness. 
 Section
5.14. Agreement to Subordinate Unaffected. The provisions of this Article 5 shall remain in full force and effect irrespective of (a) any amendment, modification, or supplement of, or any waiver or consent to, any of the terms of the
Senior Indebtedness or the agreement or instrument governing the Senior Indebtedness, (b) the release or non-perfection of any collateral securing the Senior Indebtedness or (c) the manner of sale or other disposition of the collateral
securing the Senior Indebtedness or the application of the proceeds upon such sale. 
  

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 Section 5.15. Certain Conversions Deemed Payment. For the purposes of this Article 5 only,
(a) the issuance and delivery of Permitted Junior Securities upon conversion of Securities in accordance with Article 4 shall not be deemed to constitute a payment or distribution on account of the principal of, or premium, if any, or interest
on the Securities or on account of the purchase or other acquisition of Securities, and (b) the payment, issuance or delivery of cash (except in satisfaction of fractional shares pursuant to Section 4.06), property or securities (other
than Permitted Junior Securities) upon conversion of a Security shall be deemed to constitute payment on account of the principal of such Security. Nothing contained in this Article 5 or elsewhere in this Indenture or in the Securities is intended
to or shall impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders, the right, which is absolute and unconditional, of the Holder of any Security to convert such Security in accordance with Article 4.

 ARTICLE 6 
 COVENANTS 
 Section 6.01. Payment of Securities. The Company shall promptly make all payments in respect of
the Securities on the dates and in the manner provided in the Securities and this Indenture. Principal, premium, if any, interest, and any Extension Fee, shall be considered paid on the date it is due if the Paying Agent (if other than the Company
or an Affiliate thereof) holds as of 11:00 a.m., New York City time, on the due date money, deposited by the Company or an Affiliate thereof in immediately available funds, designated for and sufficient to pay all principal, premium, if
any, interest and any Extension Fee then due. The Company shall, to the fullest extent permitted by law, pay interest on overdue principal (including premium, if any), overdue installments of interest and overdue Extension Fees at the rate of 1%
above the then-applicable interest rate from the required payment date. 
 Payment of the principal of, premium, if any, interest and any
Extension Fee on the Securities shall be made at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York (which shall initially be the office or agency of the Trustee in the Borough of
Manhattan, The City of New York); provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address appears in the Register;
provided further that a beneficial owner of interests in any Global Security will be paid by wire transfer in immediately available funds in accordance with the Applicable Procedures and a Holder with an aggregate principal amount in excess
of 

  

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$2,000,000 will be paid by wire transfer in immediately available funds at the election of such Holder if such Holder has provided wire transfer instructions
to the Company and the Trustee at least 10 Business Days prior to the payment date. 
 Section 6.02. Reports. The Company shall file
all reports and other information and documents that it is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act, and within 15 days after it files them with the SEC, the Company shall file copies of all such
reports, information and other documents with the Trustee; provided, however, that the Company shall not be required to deliver to the Trustee any material for which the Company has sought and received confidential treatment from the
SEC. It is agreed that the filing of such reports via the SEC’s EDGAR system shall constitute “filing” of such reports with the Trustee for purposes of this Section 6.02. The Company shall at all times comply with TIA
Section 314(a) and also file with the Trustee and transmit to the Holders such information, documents and other reports, and such summaries thereof, as may be required pursuant to the TIA at the time and in the manner required by the TIA.

 Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of
such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled
to rely exclusively on Officers’ Certificates). 
 Section 6.03. Compliance Certificates. 
 (a) The Company shall deliver to the Trustee, within 90 days after the end of each fiscal year, an Officers’ Certificate stating that a review of
the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled its
obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his or her knowledge, in such Officer’s capacity as an officer of the Company: 
 (i) the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default
(without regard to grace periods or notice requirements) in the performance or observance of any of the terms, provisions and conditions of this Indenture, or, if a Default or Event of Default shall have occurred, describing all such Defaults or
Events of Default of which he or she may have knowledge and what action the Company is taking or proposes to take with respect thereto; and 
  

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 (ii) no event has occurred and remains in existence by reason of which payments on
account of the principal of, premium, if any, or interest on the Securities is prohibited or if such event has occurred, a description of the event and what action the Company is taking or proposes to take with respect thereto. 
 (b) The Company shall, so long as any of the Securities are outstanding, deliver to the Trustee, within five Business Days of any Officer becoming aware
of any Default or Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto. 
 Section 6.04. Further Instruments and Acts. Upon request of the Trustee, the Company will execute and deliver such further instruments and do such
further acts as may be reasonably necessary or proper to carry out more effectively the purposes of this Indenture. 
 Section 6.05.
Maintenance of Corporate Existence. Subject to Article 7, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence. 
 Section 6.06. Stay, Extension and Usury Laws. The Company covenants (to the extent that it may lawfully do so) that it shall not at any time
insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law which would prohibit or forgive the Company from paying all or any portion of the principal of, premium, if any,
interest or any Extension Fee on the Securities as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture, and the Company (to the extent it may lawfully
do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the
execution of every such power as though no such law had been enacted. 
 ARTICLE 7 
 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 
 Section 7.01. Company May Consolidate, etc., on Certain Terms. The Company shall not directly or indirectly consolidate with or merge into any
other Person or convey, transfer or lease all or substantially all its assets, in a single transaction or a series of transactions, to any Person, unless: 
 (a) the resulting surviving or transferee Person (the “Successor Company”), if not the Company, shall be a corporation organized and existing 

  

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under the laws of the United States of America, any State thereof or the District of Columbia and the Successor Company (if not the Company) shall expressly
assume, by supplemental indenture, executed and delivered to the Trustee, in form satisfactory to the Trustee, all the obligations of the Company under the Securities and this Indenture; 
 (b) at the time of and immediately after such transaction, no Event of Default, and no event which, after notice or lapse of time, would become an Event
of Default, shall have happened and be continuing; and 
 (c) an Officers’ Certificate and an Opinion of Counsel, each stating that
the consolidation, merger or conveyance, transfer or lease complies with this Indenture, have been delivered to the Trustee. 
 Notwithstanding the above, certain of the foregoing transactions could constitute a Fundamental Change permitting each Holder to require the Company to repurchase the Securities of such Holder as set forth in Section 3.08. 

Section 7.02. Successor Substituted. Upon any consolidation of the Company with, or merger of the Company into, any other Person or any
conveyance, transfer or lease of all or substantially all of the properties and assets of the Company in accordance with Section 7.01, the Successor Person formed by such consolidation or into which the Company is merged or to which such
conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such Successor Person had been named as the Company herein, and
thereafter, except in the case of a lease, the predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Securities. 
 ARTICLE 8 
 DEFAULT AND REMEDIES 
 Section 8.01. Events of Default. An “Event of Default” shall occur if: 
 (a) the Company defaults in the payment of an installment any interest on any Security for 30 days after the date when the same becomes due and payable,
whether or not such payment is prohibited pursuant to Article 5; 
 (b) the Company defaults in the payment of the principal on any Security
when the same becomes due and payable (whether at maturity, upon redemption, on a Fundamental Change Repurchase Date or otherwise), whether or not such payment is prohibited pursuant to Article 5; 
  

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 (c) the Company fails to deliver, when due upon conversion, shares of Common Stock, cash or a combination
of shares of Common Stock, together with cash instead of fractional shares and such failure continues for a period of five days after receipt of the Conversion Notice as specified in Section 4.03; 
 (d) the Company fails to comply with its obligations under Article 7; 
 (e) the Company fails to provide notice (i) of a Fundamental Change when due to the Trustee and to each Holder as required by Section 3.08 or (ii) as required under clauses (A) and (B) of
Section 4.01(a)(iii); 
 (f) the Company fails to perform or observe any other term, covenant or agreement contained in the Securities
or this Indenture for a period of 60 days after written notice of such failure, requiring the Company to remedy the same, shall have been given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in
aggregate principal amount of the Securities then outstanding; 
 (g) a default by the Company or any of its Subsidiaries in the payment of
the principal or interest on any mortgage, agreement or other instrument under which there may be outstanding, or by which there may be secured or evidenced, any debt for money borrowed in excess of $25.0 million in the aggregate of the Company
and/or any of its Subsidiaries, whether such debt now exists or shall hereafter be created, which default results in such debt becoming or being declared due and payable, and such acceleration shall not have been rescinded or annulled within 30 days
after written notice of such acceleration has been received by the Company or any of its Subsidiaries; 
 (h) any judgment or judgments for
the payment of $25.0 million or more rendered against the Company or any of its Subsidiaries, which judgment is not waived, discharged or stayed within 60 days after (i) the date on which the right to appeal thereof has expired if no such
appeal has commenced, or (ii) the date on which all rights to appeal have been extinguished; 
 (i) the Company or any Subsidiary of the
Company, pursuant to or within the meaning of any Bankruptcy Law: 
 (i) commences a voluntary case or proceeding; 

(ii) consents to the entry of an order for relief against it in an involuntary case or proceeding; 
 (iii) consents to the appointment of a Custodian of it or for all or a material portion of its property; or 
 (iv) makes a general assignment for the benefit of its creditors. 
  

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

 (i) is for relief against the Company or any Subsidiary of the Company in an involuntary case or proceeding; 
 (ii) appoints a Custodian of the Company or any Subsidiary of the Company or for all or a material portion of the property of the Company
or any Subsidiary of the Company; or 
 (iii) orders the liquidation of the Company or any Subsidiary of the Company;

 and in each case the order or decree remains unstayed and in effect for 60 consecutive days. 
 The term “Bankruptcy Law” means Title 11 of the United States Code (or any successor thereto) or any similar federal or state law for
the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator, sequestrator or similar official under any Bankruptcy Law. 
 The Company shall notify the Responsible Officer of the Trustee in writing, promptly upon becoming aware thereof, of any Event of Default by delivering to the Trustee a statement specifying such Event of Default and
any action the Company has taken, is taking or proposes to take with respect thereto. 
 The Trustee shall not be charged with knowledge of
any Event of Default unless written notice thereof shall have been given to a Responsible Officer at the Corporate Trust Office of the Trustee by the Company, a Paying Agent, any Holder or any agent of any Holder. 
 Section 8.02. Acceleration. If an Event of Default (other than an Event of Default specified in clause (i) or (j) of Section 8.01)
occurs with respect to the Company and is continuing, the Trustee may, by notice to the Company, or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding may, by notice to the Company and the Trustee, declare
the Securities due and payable at their principal amount together with accrued and unpaid interest and any Extension Fees unpaid pursuant to Section 8.03, and the same shall become and be immediately due and payable. If an Event of Default
specified in clause (i) or (j) of Section 8.01 occurs with respect to the Company, all the principal of the Securities and the interest thereon and any Extension Fees unpaid pursuant to Section 8.03 shall automatically become and
be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. The Holders of a majority in aggregate principal amount of the Securities then outstanding, by written notice to the Company and to the
Trustee, 

  

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may rescind and annul any declaration pursuant to the first sentence of this Section 8.02 and its consequences and such Default shall cease to exist,
and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such rescission and annulment shall extend to or shall affect any subsequent Default or Event of Default, or shall impair any
right consequent thereon. 
 Section 8.03. Other Remedies. If an Event of Default occurs and is continuing, the Trustee may, but shall
not be obligated to, pursue any available remedy by proceeding at law or in equity to collect the payment of the principal of, or interest on, the Securities or to enforce the performance of any provision of the Securities or this Indenture.

 The Trustee may maintain a proceeding even if it does not possess any of the Securities or does not produce any of them in the proceeding.
A delay or omission by the Trustee or any Securityholder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. 
 No remedy is exclusive of any other remedy. All available remedies are cumulative to the extent permitted by law. 
 Notwithstanding anything to the contrary in this Indenture, at the election of the Company, the sole remedy for an Event of Default relating to the
failure to file any documents or reports that the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act and for any failure to comply with the requirements of Section 314(a)(1) of the TIA or of a
failure to comply with Section 6.02 above (the “Reporting Obligations”), shall for the first 270 days after the occurrence of such an Event of Default consist exclusively of the right to receive an extension fee on the
Securities in an amount equal to 1.00% of the principal amount of the Securities (the “Extension Fee”). If the Company so elects, the Extension Fee will be payable on all outstanding Securities on the date on which an Event of
Default relating to a failure to comply with the Reporting Obligations first occurs, which will be the 60th day after notice to the Company of its failure to so comply. On the 270th day after such Event of Default (if the Event of Default relating
to the Reporting Obligations is not cured or waived prior to such 270th day), the Securities will be subject to acceleration in accordance with Section 8.02 above. The foregoing shall not affect the rights of Holders in the event of the
occurrence of any other Event of Default. In the event the Company elects not to pay the Extension Fee upon an Event of Default in accordance with this paragraph, the Securities will be subject to acceleration in accordance with Section 8.02
above. 
 Payments of the Fundamental Change Repurchase Price, Redemption Price, any Extension Fee, principal of, or premium, if any, and
interest on, the Securities that are not made when due shall accrue interest at the annual rate of 1% above the then-applicable interest rate from the required payment date. 
  

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 Section 8.04. Waiver of Defaults and Events of Default. Subject to Sections 8.07 and 11.02,
the Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may waive an existing default or Event of Default and its consequence, except a default or Event of Default in the payment of the
principal of, or premium, if any, interest or any Extension Fee on, any Security, a failure by the Company to convert any Securities into Common Stock in accordance with the provisions of the Securities and this Indenture or any default or Event of
Default in respect of any covenants or provisions of this Indenture or the Securities which, under Section 11.02 cannot be modified or amended without the consent of the Holder of each Security affected. When a default or Event of Default is
waived, it is cured and ceases. 
 Section 8.05. Control by Majority. The Holders of a majority in aggregate principal amount of the
Securities then outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to follow any direction that
conflicts with law or this Indenture, that the Trustee, in its sole discretion, determines may be unduly prejudicial to the rights of another Holder or the Trustee, or that may involve the Trustee in personal liability unless the Trustee is offered
indemnity satisfactory to it; provided, however, that the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. 
 Section 8.06. Limitations on Suits. A Holder may not pursue any remedy with respect to this Indenture or the Securities (except actions for
payment of overdue principal or interest or for the conversion of the Securities pursuant to Article 4) unless: 
 (a) the Holder gives to
the Trustee written notice of a continuing Event of Default; 
 (b) the Holders of at least 25% in aggregate principal amount of the then
outstanding Securities make a written request to the Trustee to pursue the remedy; 
 (c) such Holder or Holders offer to the Trustee
reasonable indemnity satisfactory to the Trustee against any loss, liability or expense; 
 (d) the Trustee does not comply with the request
within 60 days after receipt of the request and the offer of indemnity; and 
  

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 (e) no direction inconsistent with such written request has been given to the Trustee during such 60-day
period by the Holders of a majority in aggregate principal amount of the Securities then outstanding. 
 A Securityholder may not use this
Indenture to prejudice the rights of another Securityholder or to obtain a preference or priority over such other Securityholder. 
 Section
8.07. Rights of Holders to Receive Payment and to Convert. Notwithstanding any other provision of this Indenture, the right of any Holder of a Security to receive payment of the principal of and interest on the Security, on or after the
respective due dates expressed in the Security and this Indenture, to convert such Security in accordance with Article 4 and to bring suit for the enforcement of any such payment on or after such respective dates or the right to convert, is absolute
and unconditional and shall not be impaired or affected without the consent of the Holder. 
 Section 8.08. Collection Suit by Trustee.
If an Event of Default in the payment of principal or interest specified in clause (a) or (b) of Section 8.01 occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against
the Company or another obligor on the Securities for the whole amount of principal and accrued interest remaining unpaid, together with, to the extent that payment of such interest is lawful, interest on overdue principal and on overdue installments
of interest, in each case at the rate per annum borne by the Securities and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel. 
 Section 8.09. Trustee May File Proofs of Claim. The Trustee may 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 (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders
allowed in any judicial proceedings relative to the Company (or any other obligor on the Securities), its creditors or its property and shall be entitled and empowered to collect and receive any money or other property payable or deliverable on any
such claims and to distribute the same, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments
directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 9.07, and to
the extent that such payment of the reasonable compensation, expenses, disbursements and advances in any such proceedings shall be denied for any reason, payment of the same shall be 

  

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secured by a lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other property which the Holders may be entitled
to receive in such proceedings, whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to, or, on behalf of any Holder, to
authorize, accept or adopt any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such
proceeding. 
 Section 8.10. Priorities. If the Trustee collects any money pursuant to this Article 8, it shall pay out the money in
the following order, subject to the provisions of Article 5: 
 First, to the Trustee for amounts due under
Section 9.07; 
 Second, to Holders for amounts due and unpaid on the Securities for principal, premium, if any,
interest, and any Extension Fee, ratably, without preference or priority of any kind, according to the amounts due and payable on the Securities for principal, premium, if any, interest, and any Extension Fee, respectively; and 
 Third, to the Company or such party as a court of competent jurisdiction shall direct. 
 The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 8.10. 
 Section 8.11. Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the
Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs,
including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 8.11 does not apply to a suit made
by the Trustee, a suit by a Holder pursuant to Section 8.07, or a suit by Holders of more than 10% in aggregate principal amount of the Securities then outstanding. 
  

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 ARTICLE 9 
 TRUSTEE 
 Section 9.01. Duties of Trustee. 
 (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture and
use the same degree of care and skill in its exercise as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 
 (b) Except during the continuance of an Event of Default: 
 (i) the duties of the Trustee
shall 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 shall be read into this
Indenture against the Trustee; and 
 (ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as
to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. The Trustee, however, shall examine any certificates
and opinions which by any provision hereof are specifically required to be delivered to the Trustee to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical
calculations or other facts stated therein). 
 (c) The Trustee may not be relieved from liability for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that: 
 (i) this paragraph does not limit the effect of
subsection (b) of this Section 9.01; 
 (ii) the Trustee shall 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 shall 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 8.05. 
 (d) No provision of this Indenture shall require the Trustee to expend or risk its own funds or incur any liability unless the Company or Holders shall
have offered to the Trustee security and indemnity satisfactory to it against such cost or liability. The Trustee shall be under no obligation to exercise any of its rights and powers under this Indenture at the request of any Holders, unless such
Holder shall have offered to the Trustee security and indemnity satisfactory to it against any loss, liability or expense. 
  

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 (e) Every provision of this Indenture that in any way relates to the Trustee is subject to
subsections (a), (b), (c) and (d)of this Section 9.01. 
 (f) The Trustee shall 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 9.02. Rights of Trustee. Subject to Section 9.01: 
 (a) The Trustee may rely conclusively on any document believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document.

 (b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel, which shall
conform to Section 12.04(b). The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel. 
 (c) The Trustee may act through its agents and shall not be responsible for the misconduct or negligence of any agent appointed with due care.

 (d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within
its rights or powers conferred upon it by this Indenture. 
 (e) The Trustee may consult with counsel of its selection, and the advice or
opinion of such counsel as to matters of law shall be full and complete authorization and protection from liability in respect of any such action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion
of such counsel. 
 (f) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at
the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities that might be incurred by
it in compliance with such request or direction. 
 (g) The Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make
such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further 

  

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inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney at the sole cost
of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 
 (h) The
Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate
Trust Office, and such notice references the Securities and this Indenture. 
 (i) The rights, privileges, protections, immunities and
benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and to each agent, custodian and other Person employed to act
hereunder. 
 (j) The Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals
and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any person authorized to sign an Officers’ Certificate, including any person specified as
so authorized in any such certificate previously delivered and not superseded. 
 (k) In no event shall the Trustee be responsible or liable
for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of
action. 
 Section 9.03. Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or
pledgee of Securities and may otherwise deal with the Company or an Affiliate of the Company with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest it must eliminate such
conflict within 90 days, apply to the SEC for permission to continue as trustee or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to Sections 9.10 and 9.11. 
 Section 9.04. Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no representation as to the validity, priority or
adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities or any money paid to the Company or upon the Company’s direction under any provision of this Indenture, it
shall not be responsible for the use or application of any money received by any Paying Agent (other than the Trustee) and it shall not be responsible for any statement or recital herein or any statement in the Securities or any other document in
connection with the sale of the Securities or pursuant to this Indenture other than its certificate of authentication. 
  

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 Section 9.05. Notice of Default or Events of Default. If a Default or an Event of Default occurs
and is continuing and if it is known to the Trustee, the Trustee shall mail to each Securityholder notice of the Default or Event of Default within 90 days after it occurs. However, the Trustee may withhold the notice if and so long as a committee
of its Responsible Officers in good faith determines that withholding notice is in the best interest of Securityholders, except in the case of a Default or an Event of Default in payment of the principal of, premium, if any, or interest on any
Security or in the payment of any conversion, redemption or repurchase obligation. 
 Section 9.06. Reports by Trustee to Holders. If
such report is required by TIA Section 313, within 60 days after each May 15, beginning with the May 15 following the date of this Indenture, and for so long as Securities remain outstanding, the Trustee shall mail to each
Securityholder a brief report dated as of such May 15 that complies with TIA Section 313(a) (but if no event described in TIA Section 313(a) has occurred within the twelve months preceding the reporting date, no report need be
transmitted). The Trustee also shall comply with TIA Section 313(b)(2) and (c). 
 A copy of each report at the time of its mailing to
Securityholders shall be mailed to the Company and filed with the SEC and each stock exchange, if any, on which the Securities are listed. The Company shall promptly notify the Trustee whenever the Securities become listed on any stock exchange or
listed or admitted to trading on any quotation system and any changes in the stock exchanges or quotation systems on which the Securities are listed or admitted to trading and of any delisting thereof. 
 Section 9.07. Compensation and Indemnity. The Company shall pay to the Trustee from time to time compensation (as agreed to from time to time by
the Company and the Trustee in writing) for its services (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust). The Company shall reimburse the Trustee promptly upon request
for all reasonable disbursements, expenses and advances incurred or made by it in addition to the compensation for its services. Such expenses may include the reasonable compensation, disbursements and expenses of the Trustee’s agents and
counsel. 
 The Company shall indemnify each of the Trustee and any predecessor Trustee against any and all losses, liabilities, damages,
claims 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 (including taxes, other than taxes based upon, measured by or determined by
the income of 

  

 69 

 
the Trustee) of enforcing this Indenture against the Company (including this Section 9.07) and defending itself against any claim (whether asserted by
the Company or any Holder or any other person) or liability in connection with the exercise or performance of any of its powers or duties hereunder. The Trustee, upon receiving written notice thereof, shall notify the Company promptly of any claim
for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations hereunder. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have
separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its written consent, which consent shall not be unreasonably withheld. 
 The Company need not reimburse the Trustee for any expense or indemnify it against any loss or liability incurred by it resulting from its negligence or
bad faith. 
 To secure the Company’s payment obligations in this Section 9.07, the Trustee shall have a senior claim to which the
Securities are hereby made subordinate on all money or property held or collected by the Trustee, except such money or property held in trust to pay the principal of and interest on the Securities. 
 When the Trustee incurs expenses or renders services after an Event of Default specified in clause (i) or (j) of Section 8.01 occurs, the
expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any Bankruptcy Law. The obligations of the Company under this Section 9.07
shall survive the termination or satisfaction and discharge of this Indenture or the resignation or removal of the Trustee for any reason. 
 Section 9.08. Replacement of Trustee. The Trustee may resign by so notifying the Company in writing. The Holders of a majority in aggregate principal amount of the Securities then outstanding may remove the Trustee by so notifying
the Trustee and the Company in writing and may, with the Company’s written consent, appoint a successor Trustee. The Company may remove the Trustee if: 
 (a) the Trustee fails to comply with Section 9.10; 
 (b) the Trustee is adjudged a bankrupt or an
insolvent or relief is entered with respect to the Trustee under any Bankruptcy Law; 
 (c) a receiver or other public officer takes charge
of the Trustee or its property; or 
  

 70 

 (d) the Trustee becomes incapable of acting. 
 If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint a successor
Trustee. The resignation or removal of a Trustee shall not be effective until a successor Trustee shall have delivered the written acceptance of its appointment as described below. 
 If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the
Holders of 10% in principal amount of the Securities then outstanding may petition any court of competent jurisdiction for the appointment of a successor Trustee at the expense of the Company. 
 If the Trustee fails to comply with Section 9.10, any Holder who has been a Holder for at least six months may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 A successor Trustee shall deliver a written
acceptance of its appointment to the retiring Trustee and to the Company. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee (provided that all sums owing to the Trustee
hereunder have been paid) and be released from its obligations (exclusive of any liabilities that the retiring Trustee may have incurred while acting as Trustee) hereunder, the resignation or removal of the retiring Trustee shall become effective,
and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. A successor Trustee shall mail notice of its succession to each Holder. 
 A retiring Trustee shall not be liable for the acts or omissions of any successor Trustee after its succession. 
 Notwithstanding replacement of the Trustee pursuant to this Section 9.08, the Company’s obligations under Section 9.07 shall continue for
the benefit of the retiring Trustee. 
 Section 9.09. Successor Trustee by Merger, etc. If the Trustee consolidates with, merges or
converts into, or transfers all or substantially all of its corporate trust assets (including the administration of this Indenture) to, another corporation, by sale or otherwise, the resulting, surviving or transferee corporation, without any
further act, shall be the successor Trustee, provided such transferee corporation shall qualify and be eligible under Section 9.10. Such successor Trustee shall promptly mail notice of its succession to the Company and each Holder.

  

 71 

 Section 9.10. Eligibility; Disqualification. The Trustee shall always satisfy the requirements of
paragraphs (1), (2) and (5) of TIA Section 310(a). The Trustee (or its parent holding company) shall have a combined capital and surplus of at least $50,000,000. If at any time the Trustee shall cease to satisfy any such
requirements, it shall resign immediately in the manner and with the effect specified in this Article 9. The Trustee shall be subject to the provisions of TIA Section 310(b). Nothing herein shall prevent the Trustee from filing with the SEC the
application referred to in the penultimate paragraph of TIA Section 310(b). 
 Section 9.11. Preferential Collection of Claims
Against Company. The Trustee shall comply with TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent
indicated therein. 
 ARTICLE 10 
 SATISFACTION AND DISCHARGE OF INDENTURE 
 Section 10.01.
Satisfaction and Discharge of Indenture. This Indenture shall be discharged and shall cease to be of further effect (except as to any surviving rights of conversion, registration of transfer or exchange of Securities herein expressly provided
for and except as further provided below), and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when: 
 (a) either 
 (i) all
Securities theretofore authenticated and delivered (other than Securities that have been destroyed, lost or stolen and that have been replaced or paid as provided in Section 2.07) have been delivered to the Trustee for cancellation; or

 (ii) all such Securities not theretofore delivered to the Trustee for cancellation: 
 (A) have become due and payable (whether on the Final Maturity Date, or on any earlier Fundamental Change Repurchase Date, Redemption
Date, conversion or otherwise); or 
 (B) will become due and payable at the Final Maturity Date within one year; or

 (C) are scheduled for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of
redemption by the Trustee in the name, and at the expense, of the Company, 
  

 72 

 and the Company, in the case of clause (A), (B) or (C) above, has irrevocably deposited or caused to be
irrevocably deposited with the Trustee or a Paying Agent (other than the Company or any of its Affiliates) as trust funds in trust solely for the purpose cash in an amount sufficient to pay and discharge the entire indebtedness on such Securities
not theretofore delivered to the Trustee for cancellation, for principal, premium, if any, and interest to the date of such deposit (in the case of Securities which have become due and payable) or to the Final Maturity Date or Redemption Date, as
the case may be; 
 (b) the Company has paid or caused to be paid all other sums payable hereunder by the Company, including any unpaid
Extension Fees; and 
 (c) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each
stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture (1) the right of Holders to receive payments of principal of, and premium (if any), accrued and unpaid interest and Extension Fee (if any) and any unpaid Conversion
Obligation (if any) on, the Securities and the other rights, duties and obligations of Securityholders, as beneficiaries hereof with respect to the amounts, if any, so deposited with the Trustee shall survive and (2) the obligations of the
Company to the Trustee under Section 9.07 shall survive and, if money shall have been deposited with the Trustee pursuant to paragraph (b) of this Section 10.01, the provisions of Sections 10.02 and 10.04 shall survive until the
Securities have been paid in full. 
 Section 10.02. Application of Trust Money. Subject to the provisions of Section 10.03, the
Trustee or a Paying Agent shall hold in trust, for the benefit of the Holders, all money deposited with it pursuant to Section 10.01 and shall apply the deposited money in accordance with this Indenture and the Securities to the payment of the
principal of, premium, if any, and interest on the Securities and any unpaid Extension Fees; provided that such money need not be segregated from other funds except to the extent required by law. 
 Section 10.03. Repayment to Company. The Trustee and each Paying Agent shall promptly pay to the Company upon request any excess money
(a) deposited with them pursuant to Section 10.01 and (b) held by them at any time. 
  

 73 

 The Trustee and each Paying Agent shall pay to the Company upon request any money held by them for the
payment of principal, premium, if any, interest and any Extension Fee that remains unclaimed for two years after a right to such money has matured; provided, however, that the Trustee or such Paying Agent, before being required to make
any such payment, may at the expense of the Company cause to be mailed to each Holder entitled to such money notice that such money remains unclaimed and that after a date specified therein, which shall be at least 30 days from the date of such
mailing, any unclaimed balance of such money then remaining will be repaid to the Company. After payment to the Company, Holders entitled to money must look to the Company for payment as general creditors unless an applicable abandoned property law
designates another person. In the absence of a written request from the Company to return unclaimed funds to the Company, the Trustee shall from time to time deliver all unclaimed funds to or as directed by applicable escheat authorities, as
determined by the Trustee in its sole discretion, in accordance with the customary practices and procedures of the Trustee. Any unclaimed funds held by the Trustee pursuant to this Section 10.03 shall be held uninvested and without any
liability for interest. 
 Section 10.04. Reinstatement. If the Trustee or any Paying Agent is unable to apply any money in accordance
with Section 10.02 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s obligations under this
Indenture and the Securities shall be revived and reinstated as though no deposit had occurred pursuant to Section 10.01 until such time as the Trustee or such Paying Agent is permitted to apply all such money in accordance with
Section 10.02; provided, however, that if the Company has made any payment of the principal of or interest on any Securities because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the
Holders of such Securities to receive any such payment from the money held by the Trustee or such Paying Agent. 
 ARTICLE 11 
 AMENDMENTS, SUPPLEMENTS AND WAIVERS 
 Section 11.01. Without Consent of Holders. The Company and the Trustee may amend or supplement this Indenture or the Securities without notice to
or consent of any Securityholder: 
 (a) to cure any ambiguity, defect or inconsistency; 
 (b) to make any other change that does not adversely affect the rights of any Securityholder: 
  

 74 

 (c) to provide for uncertificated Securities in addition to or in place of Certificated Securities;

 (d) to provide for the assumption of the Company’s obligations to the Holders of the Securities by a successor to the Company
pursuant to Article 7 hereof; 
 (e) to comply with the provisions of the TIA; 
 (f) to add to the covenants of the Company for the equal and ratable benefit of the Securityholders or to surrender any right, power or option conferred
upon the Company; 
 (g) to secure the Company’s obligations with respect to the Securities or to add one or more guarantees with
respect to the Securities; 
 (h) to appoint a successor Trustee; 
 (i) to provide for the issuance of additional Securities having the same terms as the Securities initially issued hereunder; or 
 (j) to conform the text of this Indenture or the Securities to any provision of the “Description of Notes” contained in the Prospectus to the
extent that the text of the “Description of Notes” was intended by the Company to be a recitation of the text of this Indenture or the Securities as represented by the Company to the Trustee in an Officers’ Certificate. 
 Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental
indenture, and upon receipt by the Trustee of the documents described in Section 9.02 hereof, the Trustee shall join with the Company in the execution of any amended or supplemental indenture authorized or permitted by the terms of this
Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into such amended or supplemental indenture that affects its own rights, duties or immunities
under this Indenture or otherwise. 
 Section 11.02. With Consent of Holders. The Company and the Trustee may amend or supplement this
Indenture or the Securities with the written consent of the Holders of at least a majority in aggregate principal amount of the Securities then outstanding. The Holders of at least a majority in aggregate principal amount of the Securities then
outstanding may waive compliance in a particular instance by the Company with any provision of this Indenture or the Securities without notice to any Securityholder. However, notwithstanding the foregoing but subject to Section 11.04, without
the written consent of each Securityholder affected, an amendment, supplement or waiver, including a waiver pursuant to Section 8.04, may not: 
 (a) change the stated maturity of the principal of, or interest on, any Security; 
  

 75 

 (b) reduce the principal amount of, or any premium or interest on, any Security; 
 (c) reduce the amount of principal payable upon acceleration of the maturity of any Security; 
 (d) change the currency of payment of principal of, or any premium or interest on, any Security; 
 (e) impair the right to institute suit for the enforcement of any payment on, or with respect to, any Security; 
 (f) modify the provisions with respect to the Company’s obligation to repurchase Securities pursuant to Section 3.08 in a manner adverse to
Holders; 
 (g) modify the provisions of Article 5 in a manner adverse to Holders; 
 (h) adversely affect the right of Holders to convert Securities other than as provided in or under Article 4 of this Indenture: 
 (i) reduce the percentage of the aggregate principal amount of the outstanding Securities whose Holders must consent to a modification or
amendment; and 
 (j) reduce the percentage of the aggregate principal amount of the outstanding Securities, the consent of whose
holders is necessary to take actions under Sections 8.02, 8.04, 8.05, 8.06 and 9.08 of this Indenture. 
 It shall not be necessary for the
consent of the Holders under this Section 11.02 to approve the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. 
 Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental
indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders as aforesaid, and upon receipt by the Trustee of the documents described in Section 12.04 hereof, the Trustee shall join with
the Company in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly 

  

 76 

 
affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not
be obligated to, enter into such amended or supplemental indenture. 
 After an amendment, supplement or waiver under this Section 11.02
becomes effective, the Company shall mail to the Holders affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any way impair
or affect the validity of any such amendment, supplement or waiver. 
 To the extent that the Company or any of the Subsidiaries hold any
Securities, such Securities shall be disregarded for purposes of voting in connection with any notice, waiver, consent or direction requiring the vote or concurrence of Securityholders. 
 Section 11.03. Compliance with Trust Indenture Act. Every amendment to or supplement of this Indenture or the Securities shall comply with the TIA
as in effect at the date of such amendment or supplement. 
 Section 11.04. Revocation and Effect of Consents. Until an amendment,
supplement or waiver becomes effective, a consent to it by a Holder is a continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even
if notation of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the consent as to its Security or portion of a Security if the Trustee receives the notice of revocation before the date the amendment,
supplement or waiver becomes effective. 
 After an amendment, supplement or waiver becomes effective, it shall bind every applicable
Securityholder. 
 Section 11.05. Notation on or Exchange of Securities. The Trustee may place an appropriate notation about an
amendment, supplement or waiver on any Security thereafter authenticated. The Company in exchange for all Securities may issue and the Trustee shall, upon receipt of a Company Order, authenticate new Securities that reflect the amendment, supplement
or waiver. 
 Failure to make the appropriate notation or issue a new Security shall not affect the validity and effect of such amendment,
supplement or waiver. 
 Section 11.06. Trustee to Sign Amendments, etc. The Trustee shall sign any amendment or supplemental
indenture authorized pursuant to this Article 11 if the amendment or supplemental indenture does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may, in its sole discretion, but need not
sign it. In signing or refusing to sign such 

  

 77 

 
amendment or supplemental indenture, the Trustee shall be provided with and, subject to Section 9.01, shall be fully protected in relying upon in
addition to the documents required by Section 12.04, an Officers’ Certificate and an Opinion of Counsel stating that such amendment or supplemental indenture is authorized or permitted by this Indenture. The Company may not sign an
amendment or supplemental indenture until the Board of Directors approves it. 
 Section 11.07. Effect of Supplemental Indentures.
Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities
theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 
 ARTICLE 12 
 MISCELLANEOUS 
 Section 12.01.
Trust Indenture Act Controls. If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by TIA Section 318(c), such imposed duties shall control. 
 Section 12.02. Notices. Any notice or communication to the Company or the Trustee under this Indenture shall be given in writing and delivered in
person or by first-class mail (registered or certified, return receipt requested), facsimile transmission (confirmed by delivery in person or by first-class mail (registered or certified, return receipt requested)) or guaranteed overnight courier,
as follows: 
 If to the Company, to: 
 Equinix, Inc. 
 301 Velocity Way, Fifth Floor 
 Foster City, California 94404 
 Facsimile No.: (650) 513-7900 
 Attention: General Counsel and Assistant Secretary

 With a copy to: 
 Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP 
 155 Constitution Avenue 
 Menlo Park, California 94025 
 Facsimile No.: (650) 321-2800 
 Attention: Christopher Dillon, Esq. 
  

 78 

 If to the Trustee, to: 
 U.S. Bank National Association 
 633 West 5th Street, 24th Floor 
 Los Angeles, CA 90071 
 Attention: Corporate Trust Services 
 (Equinix 2.50% Convertible Subordinated Notes due 2012) 
 Fax: (213) 615-6197

 All notices and communications (other than those sent to Holders) shall be deemed to have been duly given at the time delivered by hand,
if personally delivered; five Business Days after being deposited in the mail, if mailed by first-class mail (registered or certified, return receipt requested); upon acknowledgment of receipt, if transmitted by facsimile; and the next Business
Day after timely delivery to the courier, if sent by guaranteed overnight courier. 
 The Company or the Trustee by notice to the other may
designate additional or different addresses for subsequent notices or communications. 
 Any notice or communication mailed to a
Securityholder shall be mailed by first-class mail or delivered by guaranteed overnight courier or by other electronic means to it at its address shown on the register kept by the Primary Registrar. Any notice or communication shall also be so
mailed to any Person described in TIA Section 313(c), to the extent required by the TIA. 
 Failure to mail a notice or communication to
a Securityholder or any defect in it shall not affect its sufficiency with respect to other Securityholders. If a notice or communication to a Securityholder is mailed in the manner provided above, it is duly given, whether or not the addressee
receives it. 
 If the Company mails a notice or communication to Holders, it shall mail a copy to the Trustee and each Agent at the same
time. 
 Section 12.03. Communications by Holders with Other Holders. Securityholders may communicate pursuant to TIA
Section 312(b) with other Securityholders with respect to their rights under this Indenture or the Securities. The Company, the Trustee, the Registrar and any other person shall have the protection of TIA Section 312(c). 
 Section 12.04. Certificate and Opinion as to Conditions Precedent. 
 (a) Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee at the request of the Trustee: 
  

 79 

 (i) an Officers’ Certificate in form and substance reasonably satisfactory to the
Trustee stating that, in the opinion of the signers, all conditions precedent (including any covenants, compliance with which constitutes a condition precedent), if any, provided for in this Indenture relating to the proposed action have been
complied with; and 
 (ii) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee stating
that, in the opinion of such counsel, all such conditions precedent (including any covenants, compliance with which constitutes a condition precedent) have been complied with. 
 (b) Each Officers’ Certificate and Opinion of Counsel with respect to compliance with a condition or covenant provided for in this Indenture shall
include: 
 (i) a statement that the person making such certificate or opinion has read such covenant or condition;

 (ii) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; 
 (iii) a statement that, in the opinion of such Person, he or she has
made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (iv) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with; 
 provided however, that with respect to matters of fact an Opinion of Counsel may rely on an Officers’ Certificate or certificates of public officials.

 Section 12.05. Record Date for Vote or Consent of Securityholders. The Company (or, in the event deposits have been made pursuant
to Section 10.01, the Trustee) may set a record date for purposes of determining the identity of Holders entitled to vote or consent to any action by vote or consent authorized or permitted under this Indenture, which record date shall not be
more than thirty (30) days prior to the date of the commencement of solicitation of such action. Notwithstanding the provisions of Section 11.04, if a record date is fixed, those persons who were Holders of Securities at the close of
business on such record date (or their duly designated proxies), and only those persons, shall be entitled to take such action by vote or consent or to revoke any vote or consent previously given, whether or not such persons continue to be Holders
after such record date. 
  

 80 

 Section 12.06. Rules by Trustee, Paying Agent, Registrar and Conversion Agent. The Trustee may
make reasonable rules (not inconsistent with the terms of this Indenture) for action by or at a meeting of Holders. Any Registrar, Paying Agent or Conversion Agent may make reasonable rules for its functions. 
 Section 12.07. Legal Holidays. A “Legal Holiday” is a Saturday, Sunday or other day on which commercial banks in New York,
New York are authorized or required to close. If a payment date is a Legal Holiday, payment shall be made on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period. If a regular record date
is a Legal Holiday, the record date shall not be affected. 
 Section 12.08. Governing Law. THIS INDENTURE AND THE SECURITIES SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAW OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED
THEREBY. 
 Section 12.09. No Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret another
indenture, loan or debt agreement of the Company or a Subsidiary of the Company. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 12.10. No Personal Liability of Directors, Officers, Employees or Stockholders. No past, present or future director, officer, employee, incorporator or stockholder of the Company, as such, shall have
any liability for any obligations of the Company under the Securities, this Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Security waives and releases all such
liability. The waiver and release are part of the consideration for issuance of the Securities. 
 Section 12.11. Successors. All
agreements of the Company in this Indenture and the Securities shall bind its successor. All agreements of the Trustee in this Indenture shall bind its successor. 
 Section 12.12. Multiple Counterparts. The parties may sign multiple counterparts of this Indenture. Each signed counterpart shall be deemed an original, but all of them together represent the same agreement.

 Section 12.13. Reparability. In case any provisions in this Indenture or in the Securities shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
  

 81 

 Section 12.14. Table of Contents, Headings, etc. The table of contents, cross-reference sheet and
headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 
 Section 12.15. Force Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its
obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; provided that the Trustee shall use reasonable efforts consistent with accepted practices in the
banking industry to resume performance as soon as practicable under the circumstances. 
 Section 12.16. Waiver of Jury Trial. EACH OF
THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTIONS
CONTEMPLATED HEREBY. 
 [SIGNATURE PAGE FOLLOWS] 
  

 82 

 IN WITNESS WHEREOF, the parties hereto have hereunto set their hands as of the date and year first above
written. 
  

					
	EQUINIX, INC.
		
	By:	 	/s/ Keith D. Taylor
		 	Name:	 	Keith D. Taylor
		 	Title:	 	Chief Financial Officer

  

					
	 U.S. BANK NATIONAL ASSOCIATION,
AS TRUSTEE

		
	By:	 	/s/ Paula Oswald
		 	Name:	 	Paula Oswald
		 	Title:	 	Vice President

  

 83 

 EXHIBIT A 
 [FORM OF FACE OF SECURITY] 
 [UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY 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 THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), 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. THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS NOTE IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES
DESCRIBED IN THE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY
TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.]1 

	 1
	 These paragraphs should be included only if the Security is a Global Security.

  

 A-1 

 EQUINIX, INC. 
 CUSIP No.:29444UAF3 
 ISIN No.: US 29444 UAF30 
 2.50%
CONVERTIBLE SUBORDINATED NOTES DUE APRIL 15, 2012 
 Equinix, Inc., a Delaware corporation (the “Company”, which term shall include any
successor corporation under the Indenture referred to on the reverse hereof), promises to pay to Cede & Co., or registered assigns, the principal sum of Two Hundred Twenty Million Dollars ($250,000,000) on April 15, 2012, or such
greater or lesser amount as is indicated on the Schedule of Exchanges of Notes on the other side of this Note. 
 Interest Payment Dates: April 15 and
October 15, commencing October 15, 2007 
 Record Dates: April 1 and October 1 
 This Note is convertible as specified on the other side of this Note. Additional provisions of this Note are set forth on the other side of this Note. 
 [SIGNATURE PAGE FOLLOWS] 
  

 A-2 

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

			
	EQUINIX, INC.
		
	By:	 	  
		 	Name:
		 	Title:

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities referred to in the within-mentioned Indenture. 
  

	
	U.S. BANK NATIONAL ASSOCIATION,
AS TRUSTEE
	
	   
	Authorized Signatory

  

 A-3 

 [FORM OF REVERSE SIDE OF SECURITY] 
 EQUINIX, INC. 
 2.50% CONVERTIBLE SUBORDINATED NOTES DUE APRIL 15, 2012

  

	1.	INTEREST 

 Equinix, Inc., a Delaware corporation (the
“Company”, which term shall include any successor corporation under the Indenture hereinafter referred to), promises to pay interest on the principal amount of this Note at the rate of 2.50% per annum. The Company shall pay
interest semiannually on April 15 and October 15 of each year, commencing on October 15, 2007. Interest on the Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from
March 30, 2007; provided, however, that if there is not an existing default in the payment of interest and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding interest payment
date, interest shall accrue from such interest payment date. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 
  

	2.	METHOD OF PAYMENT 

 The Company shall pay interest on this
Note (except defaulted interest) to the person who is the Holder of this Note at the close of business on April 1 or October 1, as the case may be, next preceding the related interest payment date. The Holder must surrender this Note to a
Paying Agent to collect payment of principal. The Company will pay principal and interest in money of the United States that at the time of payment is legal tender for payment of public and private debts. The Company may, however, pay principal and
interest in respect of any Certificated Security by check or wire payable in such money; provided, however, that a beneficial owner of interests in any Global Security will be paid by wire transfer in immediately available funds in
accordance with the rules and procedures of the Depository Trust Company (“DTC”) and a Holder with an aggregate principal amount in excess of $2,000,000 will be paid by wire transfer in immediately available funds at the election of
such Holder if such Holder has provided wire transfer instructions to the Company and the Trustee at least 10 Business Days prior to the payment date. 
  

	3.	PAYING AGENT, REGISTRAR AND CONVERSION AGENT 

 Initially,
the U.S. Bank National Association, a national banking association (the “Trustee”, which term shall include any successor trustee under the Indenture hereinafter referred to), will act as Paying Agent, Registrar and Conversion
Agent. The Company may change any Paying Agent, Registrar or Conversion Agent without notice to the Holder. The Company or any of its Subsidiaries may, subject to certain limitations set forth in the Indenture, act as Paying Agent or Registrar.

  

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	4.	INDENTURE, LIMITATIONS 

 This Note is one of a duly
authorized issue of Notes of the Company designated as its 2.50% Convertible Subordinated Notes due April 15, 2012 (the “Notes”), issued under an Indenture, dated as of March 30, 2007 (together with any amendments or
supplemental indentures thereto, the “Indenture”), between the Company and the Trustee. The terms of this Note include those stated in the Indenture and those required by or made part of the Indenture by reference to the Trust
Indenture Act of 1939, as amended, as in effect on the date of the Indenture. This Note is subject to all such terms, and the Holder of this Note is referred to the Indenture and said Act for a statement of them. The Notes are unsecured obligations
of the Company limited to $220,000,000 aggregate principal amount (or $250,000,000 if the Underwriters exercise their option to purchase additional Notes in compliance with the Underwriting Agreement), except that the Company at any time or from
time to time may, without the consent of any Holder, issue additional Notes having the same terms as the Notes initially issued under the Indenture, and entitled to all of the benefits of the Indenture. The Indenture does not limit other debt of the
Company, secured or unsecured. 
  

	5.	OPTIONAL REDEMPTION 

 The Notes are subject to redemption,
at the option of the Company, on or after April 16, 2010, in whole or in part, but only if the Sale Price of the Common Stock for at least 20 Trading Days of the 30 consecutive Trading Days immediately prior to the day the Company gives a
notice of redemption is greater than 130% of the Applicable Conversion Price on the date of such notice, at a Redemption Price in cash equal to 100% of the principal amount of the Notes to be redeemed together with accrued and unpaid interest, if
any, on the principal amount of the Notes redeemed to, but not including, the date of redemption. 
 The Company shall make at least six
semi-annual interest payments (including interest on October 15, 2007 and April 15, 2010) in the full amount required by this Indenture before it may redeem the Securities. 
 No sinking fund is provided for the Notes. 
  

	6.	NOTICE OF REDEMPTION 

 Notice of redemption will be
delivered at least 20 days but not more than 60 days before the Redemption Date to each Holder of Notes to be redeemed at its registered address. Notes in denominations larger than $1,000 may be redeemed in part, but only in whole multiples of
$1,000. On and after the Redemption Date, 

  

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subject to the deposit with the Paying Agent of funds sufficient to pay the Redemption Price plus accrued interest, if any, accrued to, but excluding, the
Redemption Date, interest shall cease to accrue on Notes or portions of them called for redemption. 
  

	7.	REPURCHASE OF NOTES AT OPTION OF HOLDER UPON A FUNDAMENTAL CHANGE 

 Subject to the terms and conditions of the Indenture, if a Fundamental Change occurs, each Holder will, upon receipt of the notice of the occurrence of a Fundamental Change, have the right to require the Company to repurchase for cash any
or all of such Holder’s Notes not previously called for redemption, or any portion of those Securities that is equal to $1,000 or an integral multiple of $1,000, on the date that is 45 days after the Fundamental Change Repurchase Notice at a
price equal to 100% of the principal amount of the Notes to be repurchased plus accrued and unpaid interest, if any, to (but excluding) the Fundamental Change Repurchase Date. 
 Holders have the right to withdraw any Fundamental Change repurchase notice, in whole or in part, by delivering to the Paying Agent a written notice of
withdrawal in accordance with the provisions of the Indenture. 
 If cash sufficient to pay the Fundamental Change Repurchase Price of all
Notes or portions thereof to be purchased as of the Fundamental Change Repurchase Date, has been deposited with the Paying Agent on or prior to the Business Day following the Fundamental Change Repurchase Date, all interest shall cease to accrue on
such Notes (or portions thereof) immediately after such Fundamental Change Repurchase Date and the Holder thereof shall have no other rights as such other than the right to receive the Fundamental Change Repurchase Price, upon surrender of such
Notes. 
  

	8.	CONVERSION 

 Upon satisfaction of one or more of the
conditions in Section 4.01 of the Indenture, a Holder of a Note may convert the principal amount of such Note (or any portion thereof equal to $ 1,000 or any integral multiple of $1,000 in excess thereof) into Common Stock at any time prior to
the Close of Business on the Business Day immediately preceding the Final Maturity Date, at the Applicable Conversion Rate in effect on the Conversion Date; provided, however, that, if such Note is called for redemption or submitted or
presented for repurchase pursuant to Article 3 of the Indenture, such conversion right shall terminate at the Close of Business on the Business Day immediately preceding the Redemption Date or Fundamental Change Repurchase Date, as the case may be,
for such Note or such earlier date as the Holder presents such Note for redemption or for purchase (unless the Company shall default in making the redemption payment or 

  

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Fundamental Change Repurchase Price payment when due, as the case may be, in which case the conversion right shall terminate at the close of business on the
date such default is cured and such Note is redeemed or purchased, as the case may be). 
 The Conversion Rate means 8.9259 shares of Common
Stock per $1,000 principal amount of Notes, subject to adjustment under certain circumstances as provided in the Indenture. 
 Upon surrender
of Notes for conversion, the Company will have the right to deliver, in lieu of shares of Common Stock, cash or a combination of cash and shares of Common Stock in the amounts provided in Section 4.04 of the Indenture. 
 No fractional shares will be issued upon conversion; in lieu thereof, an amount will be paid in cash based upon the Sale Price of the Common Stock on the
Trading Day immediately prior to the Conversion Date. 
 To convert a Note, a Holder must follow the procedures set forth in the Indenture.

 A Note in respect of which a Holder had delivered a Fundamental Change Repurchase Notice exercising the option of such Holder to require
the Company to purchase such Note may be converted only if the Fundamental Change Repurchase Notice is withdrawn in accordance with the terms of the Indenture. 
  

	9.	DENOMINATIONS, TRANSFER, EXCHANGE 

 The Notes are in
registered form, without coupons, in denominations of $1,000 and integral multiples of $1,000. A Holder may register the transfer of or exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other things, to
furnish appropriate endorsements and transfer documents and to pay any taxes or other governmental charges that may be imposed in relation thereto by law or permitted by the Indenture. 
  

	10.	PERSONS DEEMED OWNERS 

 The Holder of a Note may be treated
as the owner of it for all purposes. 
  

	11.	UNCLAIMED MONEY 

 The Trustee and each Paying Agent shall
pay to the Company upon request any money held by them for the payment of principal or interest that remains unclaimed for two years after a right to such money has matured. After payment to the Company, Holders entitled to money must look to the
Company for payment as general creditors unless an applicable abandoned property law designates another person. 
  

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	12.	AMENDMENT, SUPPLEMENT AND WAIVER 

 Subject to certain
exceptions, the Indenture or the Notes may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the Notes then outstanding, and an existing default or Event of Default and its consequence
or compliance with any provision of the Indenture or the Notes may be waived in a particular instance with the consent of the Holders of a majority in aggregate principal amount of the Notes then outstanding. Without the consent of or notice to any
Holder, the Company and the Trustee may amend or supplement the Indenture or the Notes to, among other things, cure any ambiguity, defect or inconsistency or make any other change that does not adversely affect the rights of any Holder. 

 

	13.	SUCCESSOR ENTITY 

 When a successor corporation assumes all
the obligations of its predecessor under the Notes and the Indenture in accordance with the terms and conditions of the Indenture, the predecessor corporation (except in certain circumstances specified in the Indenture) shall be released from those
obligations. 
  

	14.	DEFAULTS AND REMEDIES 

 The definition of Event of Default
is in the Indenture. If an Event of Default (other than as a result of certain events of bankruptcy, insolvency or reorganization of the Company) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of
the Notes then outstanding may declare the Notes due and immediately payable at their principal amount together with accrued and unpaid interest, all as and to the extent provided in the Indenture. If an Event of Default occurs as a result of
certain events of bankruptcy, insolvency or reorganization of the Company, all the principal of the Notes and the interest thereon shall become immediately due and payable without any declaration or other act on the part of the Trustee or any
Holder, all as and to the extent provided in the Indenture. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Notes.
Subject to certain limitations, Holders of a majority in aggregate principal amount of the Notes then outstanding may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders notice of any continuing default
(except a default in payment of principal or interest) if it determines that withholding notice is in their interests. The Company is required to file periodic reports with the Trustee as to the absence of default. 
  

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	15.	TRUSTEE DEALINGS WITH THE COMPANY 

 The U.S. Bank National
Association, a national banking association, the Trustee under the Indenture, in its individual or any other capacity, may make loans to, accept deposits from and perform services for the Company or an Affiliate of the Company, and may otherwise
deal with the Company or an Affiliate of the Company, as if it were not the Trustee. 
  

	16.	NO RECOURSE AGAINST OTHERS 

 No past, present or future
director, officer, employee, incorporator or stockholder of the Company, as such, shall have any liability for any obligations of the Company under the Notes, the Indenture or for any claim based on, in respect of, or by reason of, such obligations
or their creation. The Holder of this Note by accepting this Note waives and releases all such liability. The waiver and release are part of the consideration for the issuance of this Note. 
  

	17.	AUTHENTICATION 

 This Note shall not be valid until the
Trustee or an authenticating agent manually signs the certificate of authentication on the other side of this Note. 
  

	18.	ABBREVIATIONS AND DEFINITIONS 

 Customary abbreviations may
be used in the name of the Holder or an 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 UGMA (= Uniform
Gifts to Minors Act). 
 All terms used in this Note but not specifically defined herein are defined in the Indenture and are used herein as
so defined. 
  

	19.	RANK 

 The Indebtedness evidenced by the Notes is, to the
extent and in the manner provided in the Indenture, subordinated and subject in right of payment to the prior payment in full of all amounts then due on all Senior Indebtedness of the Company. Each Holder of this Note, by accepting the same,
(a) agrees to and shall be bound by such provisions, (b) authorizes and directs the Trustee on such Holder’s behalf to take such action as may be necessary or appropriate to effectuate the subordination so provided and
(c) appoints the Trustee such Holder’s attorney-in-fact for any and all such purposes. 
  

	20.	INDENTURE TO CONTROL; GOVERNING LAW 

 In the case of any
conflict between the provisions of this Note and the Indenture, the provisions of the Indenture shall control. 
  

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 THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAW OF THE STATE OF NEW
YORK WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 
 The Company will furnish to any Holder, upon written request and without charge, a copy of the Indenture. Requests may be made to: Equinix, Inc., 301 Velocity Way, Fifth Floor, Foster City, California 94404, Facsimile
No.: (650) 513-7900, Attention: General Counsel and Assistant Secretary. 
  

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 ASSIGNMENT FORM 
 To assign this Note, fill in the form below: 
 I or we assign and transfer this Note to: 
  

			
	  
	(Insert assignee’s social security or tax I.D. number)	  	  
	  
	  
	  
	  
	  
	(Print or type assignee’s name, address and zip code) and irrevocably appoint	  	

  
  

 agent to transfer this Note on the books of the Company. The agent may substitute another to act for him or her. 
  

									
	Date:	 		 		 	Your Signature:
					
		 	  	 		 		 	  
		 		 		 		 	(Sign exactly as your name appears on the other side of this Note)

 * Signature guaranteed by: 
  

			
		
	By:	 	  

  

	*	The signature must be guaranteed by an institution which is a member of one of the following recognized signature guaranty programs: (i) the Securities Transfer Agent Medallion
Program (STAMP); (ii) the New York Stock Exchange Medallion Program (MSP); (iii) the Stock Exchange Medallion Program (SEMP); or (iv) such other guaranty program acceptable to the Trustee. 

  

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 CONVERSION NOTICE 
 To convert this Note into Common Stock of the Company, check the box: 
 To convert only part of this Note, state the
principal amount to be converted (must be $1,000 or a integral multiple of $1,000): $ 
 If you want the stock certificate made out in another person’s
name, fill in the form below: 
  

			
	  
	 (Insert assignee’s social security or tax I.D. number)

	  
	  
	  
	  
	 (Print or type assignee’s name, address and zip code)

  

					
	Date:	 		 	Your Signature:
			
	   	 		 	   
		 		 	(Sign exactly as your name appears on the other side of this Note)

 * Signature guaranteed by: 
  

			
		
	By:	 	  

  

	*	The signature must be guaranteed by an institution which is a member of one of the following recognized signature guaranty programs: (i) the Securities Transfer Agent Medallion
Program (STAMP); (ii) the New York Stock Exchange Medallion Program (MSP); (iii) the Stock Exchange Medallion Program (SEMP); or (iv) such other guaranty program acceptable to the Trustee. 

  

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 REPURCHASE EXERCISE NOTICE 
 UPON A FUNDAMENTAL CHANGE 
 To: Equinix, Inc. 
 The undersigned registered owner of this Note hereby irrevocably acknowledges receipt of a notice from Equinix, Inc. (the “Company”) as to the
occurrence of a Fundamental Change with respect to the Company and requests and instructs the Company to redeem the entire principal amount of this Note, or the portion thereof (which is $1,000 or an integral multiple thereof) below designated, in
accordance with the terms of the Indenture referred to in this Note at the Fundamental Change Repurchase Price, together with accrued interest to, but excluding, the Repurchase Date, to the registered Holder hereof. 
  

					
	Dated:	 		 	
			
	   	 		 	   
	 	 		 	   
	 	 		 	   
		 		 	Signature(s)
			
		 		 	Signature(s) must be guaranteed by a qualified guarantor institution with membership in an approved signature guarantee program pursuant to Rule 17Ad-15 under the Securities Exchange Act of
1934.
			
	 	 		 	   
		 		 	Signature Guaranty

 Principal amount to be redeemed 
 (in an integral multiple of $1,000, if less than all): 
  

 NOTICE: The signature to the foregoing Election must correspond to the name as written upon the face of the Note in every particular, without alteration or any change
whatsoever. 
  

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 SCHEDULE OF EXCHANGES OF NOTES2 
 The following
exchanges, redemptions, repurchases or conversions of a part of this Global Note have been made: 
  

									
	 Date
of
Exchange,
Redemption,
Repurchase
or
Conversion
	 	 Amount of
Decrease in
Principal
Amount of
this
Global
Note
	 	 Amount of
Increase in
Principal
Amount of
this
Global
Note
	  	Principal
Amount of
this Global
Note
Following
Such
Decrease or
Increase	  	Signature of
Authorized
Signatory of
Securities
Custodian
		 		 		  		  	

  

	 2
	 This schedule should be included only if the Security is a Global Security.

  

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