Document:

EX-10.1

 Exhibit 10.1 

JOINDER AND FIRST AMENDMENT 

TO 
 AMENDED AND RESTATED
CREDIT AGREEMENT 
 THIS JOINDER AND FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is
entered into as of March 18, 2014, by and among WELLS FARGO BANK, NATIONAL ASSOCIATION, as agent (“Agent”) for the Lenders (as defined in the Credit Agreement referred to below), the Lenders party hereto, NUVERRA ENVIRONMENTAL
SOLUTIONS, INC., a Delaware corporation (“Borrower”), CAPITAL ONE BUSINESS CREDIT CORP. (“Capital One”) and CIT FINANCE LLC, (“CIT”; and together with Capital One, collectively the “New
Lenders” and each individually, a “New Lender”). 
 WHEREAS, Borrower, Agent, and Lenders are parties to that
certain Amended and Restated Credit Agreement dated as of February 3, 2014 (as amended, restated, modified or supplemented from time to time, the “Credit Agreement”); 

WHEREAS, each New Lender has agreed to join the Credit Agreement as a Lender on the First Amendment Effective Date; and 

WHEREAS, Borrower has requested that Agent and the Lenders amend the Credit Agreement in certain respects as set forth herein and Agent and
the Lenders have agreed to the foregoing, on the terms and conditions set forth herein. 
 NOW THEREFORE, in consideration of the premises
and mutual agreements herein contained, the parties hereto agree as follows: 
 1. Defined Terms. Unless otherwise defined herein,
capitalized terms used herein and not otherwise defined shall have the meanings ascribed to such terms in the Credit Agreement. 
 2.
Joinder; Reallocation. 
 (a) On the First Amendment Effective Date, each New Lender (i) hereby joins the Credit Agreement as a
Lender and shall have the rights and obligations of a Lender under the Loan Documents; (ii) represents and warrants that it is legally authorized to enter into this Amendment and the Credit Agreement; (iii) confirms that it has received
copies of the Credit Agreement and the other Loan Documents, together with copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to
enter into this Amendment; (iv) agrees that it will, independently and without reliance upon Agent or any other Lender, based upon such documents and information as it shall deem appropriate at the time, continue to make its own credit
decisions in taking or not taking any action under the Loan Documents; (v) confirms that it is an Eligible Transferee; (vi) appoints and authorizes the Agent to take such action as agent on its behalf and to exercise such powers under the
Loan Documents as are delegated to Agent by the terms thereof, together with such powers as are reasonably incidental thereto; and (vi) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the
Loan Documents are required to be performed by it as a Lender. 

 (b) In connection herewith, on the First Amendment Effective Date (i) the Revolver
Commitments of Wells Fargo shall be reduced to $75,000,000, (ii) a new Revolver Commitment will be allocated to Capital One in the amount of $35,000,000, and (iii) a new Revolver Commitment will be allocated to CIT in the amount of
$35,000,000, all as set forth on the attached Schedule C-1. New Lenders agree to make settlement payments to Agent as provided in the Credit Agreement, such that after giving effect to the making of such settlement payments, each
Lender’s share of the outstanding Revolver Usage shall equal its Pro Rata Share. Nothing contained herein shall constitute a novation of any Obligation. 

3. Amendments to Credit Agreement. In reliance upon the representations and warranties of Borrower set forth in Section 7
below, and subject to the satisfaction of the conditions to effectiveness set forth in Section 6 below, on the First Amendment Effective Date the Credit Agreement is hereby amended as follows: 

(a) Section 2.14(a) of the Credit Agreement is amended to replace each of the two references in said section to “$25,000,000”
with “$50,000,000” and (ii) replace the first reference to “Closing Date” in said section with “First Amendment Effective Date.” 

(b) The following defined terms are each added to Schedule 1.1 to the Credit Agreement in their proper alphabetical order: 

“First Amendment” means that certain Joinder and First Amendment to Amended and Restated Credit Agreement
dated as of the First Amendment Effective Date, among Agent, Lenders, Borrower, and the New Lenders (as such term is defined therein). 

“First Amendment Effective Date” means March 18, 2014. 

(c) The definition of “Maximum Revolver Amount” set forth in Schedule 1.1 to the Credit Agreement is amended and restated in its
entirety as follows: 
 “Maximum Revolver Amount” means $245,000,000, as increased pursuant to
Section 2.14 and as decreased by the amount of reductions in the Revolver Commitments made in accordance with Section 2.4(c) of the Agreement. 

(d) Schedule C-1 to the Credit Agreement is replaced in its entirety with Schedule C-1 attached hereto. 

4. Effectiveness of First Amendment; Continuing Effect. Except as expressly set forth in Section 2 and in
Section 3 of this Amendment, nothing in this Amendment shall constitute a modification or alteration of the terms, conditions or covenants of the Credit Agreement or any other Loan Document, or a waiver of any other terms or provisions
thereof, and the Credit Agreement and the other Loan Documents shall remain unchanged and shall continue in full force and effect, in each case as amended hereby. This Amendment is a Loan Document. 

  
 -2- 

 5. Reaffirmation and Confirmation; Post-Closing Covenant re Real Property. Borrower hereby
ratifies, affirms, acknowledges and agrees that the Credit Agreement and the other Loan Documents to which it is a party represent the valid, enforceable and collectible obligations of Borrower, and further acknowledges that there are no existing
claims, defenses, personal or otherwise, or rights of setoff whatsoever with respect to the Credit Agreement or any other Loan Document. Borrower hereby agrees that this Amendment in no way acts as a release or relinquishment of the Liens and rights
securing payments of the Obligations. The Liens and rights securing payment of the Obligations are hereby ratified and confirmed by Borrower in all respects. Within 10 Business Days after delivery to Borrower from Agent of final forms thereof (or
such later date as may be agreed to by Agent in its sole discretion), Borrower shall execute (or cause the applicable Loan Party to execute) and deliver to Agent an amendment to mortgage to reflect the increase in the Maximum Revolver Amount with
respect to any Mortgages executed in connection with the Original Credit Agreement. Borrower acknowledges and agrees that the failure to satisfy the forgoing covenant shall constitute an immediate Event of Default. 

6. Conditions to Effectiveness. This Amendment shall become effective upon the First Amendment Effective Date and upon the satisfaction
of each of the following conditions precedent, in each case satisfactory to Agent in all respects: 
 (a) Agent shall have received a copy
of this Amendment executed and delivered by Agent, the Lenders, the New Lenders and the Loan Parties, together with opinions of Borrower’s counsel and a secretary’s certificate of Borrower; 

(b) Agent shall have confirmation from each New Lender that it has received payment in full of all fees and expenses due and owing by Borrower
to such New Lender on the First Amendment Effective Date; and 
 (c) no Default or Event of Default shall have occurred and be continuing on
the date hereof or as of the date of the effectiveness of this Amendment. 
 7. Representations and Warranties. In order to induce
Agent, Lenders and the New Lenders to enter into this Amendment, Borrower hereby represents and warrants to Agent, Lenders and the New Lenders that: 

(a) after giving effect to this Amendment, all representations and warranties contained in the Loan Documents to which Borrower is a party are
true, correct and complete in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) on and as of the
date of this Amendment, as though made on and as of such date (except to the extent that such representations and warranties relate solely to an earlier date, in which case such representations and warranties shall be true, correct and complete in
all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) on and as of such earlier date); 

(b) no Default or Event of Default has occurred and is continuing; and 

  
 -3- 

 (c) this Amendment and the Loan Documents, as amended hereby, constitute legal, valid and binding
obligations of Borrower and are enforceable against Borrower in accordance with their respective terms, except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to
or limiting creditors’ rights generally. 
 8. Miscellaneous. 

(a) Expenses. Borrower agrees to pay on demand all reasonable costs and expenses of Agent (including reasonable attorneys’ fees)
incurred in connection with the preparation, negotiation, execution, delivery and administration of this Amendment and all other instruments or documents provided for herein or delivered or to be delivered hereunder or in connection herewith. All
obligations provided herein shall survive any termination of this Amendment and the Credit Agreement as amended hereby. 
 (b) Choice of
Law and Venue; Jury Trial Waiver; Reference Provision. Without limiting the applicability of any other provision of the Credit Agreement or any other Loan Document, the terms and provisions set forth in Section 12 of the Credit
Agreement are expressly incorporated herein by reference. 
 (c) Counterparts. This Amendment may be executed in any number of
counterparts, and by the parties hereto on the same or separate counterparts, and each such counterpart, when executed and delivered, shall be deemed to be an original, but all such counterparts shall together constitute but one and the same
Amendment. Delivery of an executed counterpart of this Amendment by telefacsimile or other electronic method of transmission shall be equally effective as delivery of an original executed counterpart of this Agreement. 

(d) Severability. Each provision of this Amendment shall be severable from every other provision of this Amendment for the purpose of
determining the legal enforceability of any specific provision. 
 9. Release. 

(a) In consideration of the agreements of Agent and Lenders contained herein and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, each of Borrower and each Guarantor that executes a Consent and Reaffirmation to this Amendment, on behalf of itself and its successors, assigns, and other legal representatives (Borrower, each Guarantor
and all such other Persons being hereinafter referred to collectively as the “Releasors” and individually as a “Releasor”), hereby absolutely, unconditionally and irrevocably releases, remises and forever discharges
Agent, Issuing Bank and Lenders, and their successors and assigns, and their present and former shareholders, Affiliates, subsidiaries, divisions, predecessors, directors, officers, attorneys, employees, agents and other representatives (Agent,
Issuing Bank, each Lender and all such other Persons being hereinafter referred to collectively as the “Releasees” and individually as a “Releasee”), of and from all demands, actions, causes of action, suits,
covenants, contracts, controversies, agreements, promises, sums of money, accounts, bills, reckonings, damages and any and all other claims, counterclaims, defenses, rights of set-off, demands and liabilities
whatsoever (individually, a 

  
 -4- 

 
“Claim” and collectively, “Claims”) of every name and nature, known or unknown, suspected or unsuspected, both at law and in equity, which any Releasor may now
or hereafter own, hold, have or claim to have against the Releasees or any of them for, upon, or by reason of any circumstance, action, cause or thing whatsoever which arises at any time on or prior to the day and date of this Amendment, in any way
related to or in connection with the Credit Agreement, or any of the other Loan Documents or transactions thereunder or related thereto. 

(b) Each of Borrower and each Guarantor that executes a Consent and Reaffirmation to this Amendment understands, acknowledges and agrees that
the release set forth above may be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such
release. 
 (c) Each of Borrower and each Guarantor that executes a Consent and Reaffirmation to this Amendment agrees that no fact, event,
circumstance, evidence or transaction which could now be asserted or which may hereafter be discovered shall affect in any manner the final, absolute and unconditional nature of the release set forth above. 

[Signature Page Follows] 

  
 -5- 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective officers thereunto duly authorized and delivered as of the date first above written. 

			
	
	NUVERRA ENVIRONMENTAL SOLUTIONS, INC., a Delaware corporation
		
	By:	 	 /s/ Jay Parkinson

	Name:	 	
	Title:	 	

  
 Signature Page to Joinder and First
Amendment to Amended and Restated Credit Agreement 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Agent and as a Lender
		
	 By:
	 	 /s/ Gary Forlenza

	 Name:
	 	
	 Title:
	 	

  
 Signature Page to Joinder and First
Amendment to Amended and Restated Credit Agreement 

 
			
	 BANK OF AMERICA, N.A., as a Lender

		
	 By:
	 	 /s/ James B. Allen

	 Name:
	 	
	 Title:
	 	

  
 Signature Page to Joinder and First
Amendment to Amended and Restated Credit Agreement 

 
			
	CITIZENS BANK OF PENNSYLVANIA, as a Lender
		
	By:	 	 /s/ Joseph F. King

	Name:	 	
	Title:	 	

  
 Signature Page to Joinder and First
Amendment to Amended and Restated Credit Agreement 

 
			
	CAPITAL ONE BUSINESS CREDIT CORP., as a Lender
		
	By:	 	 /s/ Edward Behnen

	Name:	 	
	Title:	 	

  
 Signature Page to Joinder and First
Amendment to Amended and Restated Credit Agreement 

 
			
	 CIT FINANCE LLC, as a Lender

		
	 By:
	 	 /s/ Stewart McLeod

	 Name:
	 	
	 Title:
	 	

  
 Signature Page to Joinder and First
Amendment to Amended and Restated Credit Agreement 

 CONSENT AND REAFFIRMATION 

Each of the undersigned (each a “Guarantor”) hereby (i) acknowledges receipt of a copy of the foregoing Joinder and
First Amendment to Amended and Restated Credit Agreement (terms defined therein and used, but not otherwise defined, herein shall have the meanings assigned to them therein); (ii) consents to Borrower’s execution and delivery thereof;
(iii) agrees to be bound thereby, including Section 9 of the foregoing Joinder and First Amendment to Amended and Restated Credit Agreement; and (iv) affirms that nothing contained therein shall modify in any respect whatsoever
any Loan Documents to which the undersigned is a party and reaffirms that each such Loan Document is and shall continue to remain in full force and effect. Although each Guarantor has been informed of the matters set forth herein and has
acknowledged and agreed to same, each Guarantor understands that Agent and Lenders have no obligation to inform such Guarantor of such matters in the future or to seek such Guarantor’s acknowledgment or agreement to future consents, amendments
or waivers, and nothing herein shall create such a duty. 
  

			
	HECKMANN ENVIRONMENTAL SERVICES, INC.
		
	By:	 	 /s/ Jay Parkinson

	Name:	 	
	Title:	 	
	
	THERMO FLUIDS INC.
		
	By:	 	 /s/ Jay Parkinson

	Name:	 	
	Title:	 	
	
	HECKMANN WATER RESOURCES CORPORATION
		
	By:	 	 /s/ Jay Parkinson

	Name:	 	
	Title:	 	

  
 Consent and Reaffirmation to Joinder
and First Amendment to Amended and Restated Credit Agreement 

 
			
	HECKMANN WATER RESOURCES (CVR), INC.
		
	By:	 	 /s/ Jay Parkinson

	Name:	 	
	Title:	 	
	
	1960 WELL SERVICES, LLC
		
	By:	 	 /s/ Jay Parkinson

	Name:	 	
	Title:	 	
	
	HEK WATER SOLUTIONS, LLC
		
	By:	 	 /s/ Jay Parkinson

	Name:	 	
	Title:	 	
	
	APPALACHIAN WATER SERVICES, LLC
		
	By:	 	 /s/ Jay Parkinson

	Name:	 	
	Title:	 	
	
	BADLANDS POWER FUELS, LLC, a Delaware limited liability company
		
	By:	 	 /s/ Jay Parkinson

	Name:	 	
	Title:	 	

  
 Consent and Reaffirmation to Joinder
and First Amendment to Amended and Restated Credit Agreement 

 
			
	BADLANDS POWER FUELS, LLC, a North Dakota limited liability company
		
	By:	 	 /s/ Jay Parkinson

	Name:	 	
	Title:	 	
	
	LANDTECH ENTERPRISES, L.L.C.
		
	By:	 	 /s/ Jay Parkinson

	Name:	 	
	Title:	 	
	
	BADLANDS LEASING, LLC
		
	By:	 	 /s/ Jay Parkinson

	Name:	 	
	Title:	 	
	
	IDEAL OILFIELD DISPOSAL, LLC
		
	By:	 	 /s/ Jay Parkinson

	Name:	 	
	Title:	 	

  
 Consent and Reaffirmation to Joinder
and First Amendment to Amended and Restated Credit Agreement 

 Schedule C-1 

Commitments 
  

					
	 Lender
	  	Revolver Commitment	 
	 Wells Fargo Bank, National Association
	  	$	75,000,000	  
	 Bank of America, N.A.
	  	$	50,000,000	  
	 Citizens Bank of Pennsylvania
	  	$	50,000,000	  
	 Capital One Business Credit Corp.
	  	$	35,000,000	  
	 CIT Finance LLC
	  	$	35,000,000	  
	 All Lenders
	  	$	245,000,000	  

  
 Exhibit B-1EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 
  

 
  

NAVISTAR INTERNATIONAL CORPORATION 

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

 
  

Indenture 
 Dated as of
March 24, 2014 
  
  

4.75% Senior Subordinated Convertible Notes due 2019 
  

 
  

 Table of Contents 

 

							
	 	  	 	  	Page	 
	
	ARTICLE 1
	 
	
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	  
			
	 SECTION 1.01.
	  	 General
	  	 	1	  
	 SECTION 1.02.
	  	 Definitions
	  	 	2	  
	
	ARTICLE 2	  
	
	THE SECURITIES	  
			
	 SECTION 2.01.
	  	 Designation and Amount
	  	 	15	  
	 SECTION 2.02.
	  	 Form of Notes
	  	 	15	  
	 SECTION 2.03.
	  	 Date and Denomination of Notes; Payments of Interest
	  	 	16	  
	 SECTION 2.04.
	  	 Rule 144A Information
	  	 	18	  
	 SECTION 2.05.
	  	 Execution, Authentication and Delivery of Notes
	  	 	21	  
	 SECTION 2.06.
	  	 Exchange and Registration of Transfer of Notes; Depositary
	  	 	22	  
	 SECTION 2.07.
	  	 Mutilated, Destroyed, Lost or Stolen Notes
	  	 	25	  
	 SECTION 2.08.
	  	 Temporary Notes
	  	 	26	  
	 SECTION 2.09.
	  	 Cancellation of Notes Paid, Etc
	  	 	26	  
	 SECTION 2.10.
	  	 CUSIP Numbers
	  	 	26	  
	 SECTION 2.11.
	  	 Repurchases
	  	 	26	  
	
	ARTICLE 3	  
	
	FUNDAMENTAL CHANGES AND PURCHASES THEREUPON	  
			
	 SECTION 3.01.
	  	 Purchase at Option of Holders Upon a Fundamental Change
	  	 	27	  
	 SECTION 3.02.
	  	 Effect of Fundamental Change Purchase Notice
	  	 	30	  
	 SECTION 3.03.
	  	 Withdrawal of Fundamental Change Purchase Notice
	  	 	30	  
	 SECTION 3.04.
	  	 Deposit of Fundamental Change Purchase Price
	  	 	30	  
	 SECTION 3.05.
	  	 Notes Purchased in Whole or in Part
	  	 	31	  
	 SECTION 3.06.
	  	 Covenant to Comply With Applicable Laws Upon Purchase of Notes
	  	 	31	  
	 SECTION 3.07.
	  	 Repayment to the Company
	  	 	31	  
	
	ARTICLE 4	  
	
	CONVERSION	  
			
	 SECTION 4.01.
	  	 Right to Convert
	  	 	32	  
	 SECTION 4.02.
	  	 Conversion Procedures
	  	 	34	  
	 SECTION 4.03.
	  	 Settlement Upon Conversion
	  	 	35	  

  
 -i- 

							
	 SECTION 4.04.
	  	 Adjustment of Conversion Rate
	  	 	38	  
	 SECTION 4.05.
	  	 Certain Other Adjustments
	  	 	46	  
	 SECTION 4.06.
	  	 Adjustments Upon Certain Fundamental Changes or Redemption Notices
	  	 	47	  
	 SECTION 4.07.
	  	 Effect of Recapitalization, Reclassification, Consolidation, Merger or Sale
	  	 	49	  
	 SECTION 4.08.
	  	 Taxes on Shares Issued
	  	 	50	  
	 SECTION 4.09.
	  	 Reservation of Shares; Shares to be Fully Paid; Compliance With Governmental Requirements; Listing of Common Stock
	  	 	50	  
	 SECTION 4.10.
	  	 Responsibility of Trustee and Conversion Agent
	  	 	51	  
	 SECTION 4.11.
	  	 Notice to Holders Prior to Certain Actions
	  	 	51	  
	 SECTION 4.12.
	  	 Stockholder Rights Plan
	  	 	52	  
	
	ARTICLE 5	  
	
	DEFAULTS AND REMEDIES	  
			
	 SECTION 5.01.
	  	 Events of Default
	  	 	52	  
	 SECTION 5.02.
	  	 Additional Interest
	  	 	54	  
	 SECTION 5.03.
	  	 Acceleration
	  	 	55	  
	 SECTION 5.04.
	  	 Payments of Notes on Default; Suit Therefor
	  	 	55	  
	 SECTION 5.05.
	  	 Application of Monies Collected by the Trustee
	  	 	57	  
	 SECTION 5.06.
	  	 Proceedings by Holders of Notes
	  	 	57	  
	 SECTION 5.07.
	  	 Proceedings by Trustee
	  	 	58	  
	 SECTION 5.08.
	  	 Remedies Cumulative and Continuing
	  	 	59	  
	 SECTION 5.09.
	  	 Direction of Proceedings and Waiver of Defaults by Majority of Holders of Notes
	  	 	59	  
	 SECTION 5.10.
	  	 Notice of Defaults
	  	 	59	  
	 SECTION 5.11.
	  	 Undertaking to Pay Costs
	  	 	60	  
	
	ARTICLE 6	  
	
	MERGER, SALE, CONVEYANCE AND LEASE	  
			
	 SECTION 6.01.
	  	 Company May Consolidate, Etc. on Certain Terms
	  	 	60	  
	 SECTION 6.02.
	  	 Successor Person Substituted
	  	 	61	  
	
	ARTICLE 7	  
	
	SUPPLEMENTAL INDENTURES	  
			
	 SECTION 7.01.
	  	 Amendments or Supplements Without Consent of Holders
	  	 	61	  
	 SECTION 7.02.
	  	 Amendments, Supplements or Waivers With Consent of Holders
	  	 	62	  
	 SECTION 7.03.
	  	 Effect of Supplemental Indentures
	  	 	63	  
	 SECTION 7.04.
	  	 Notation on Notes
	  	 	64	  
	 SECTION 7.05.
	  	 Evidence of Compliance of Supplemental Indenture to be Furnished to Trustee
	  	 	64	  

  
 -ii- 

							
	ARTICLE 8	  
	
	SUBORDINATION OF NOTES	  
			
	 SECTION 8.01.
	  	 Notes Subordinate to Senior Indebtedness
	  	 	64	  
	 SECTION 8.02.
	  	 Payment Over of Proceeds Upon Dissolution, Etc
	  	 	64	  
	 SECTION 8.03.
	  	 No Payment When Senior Indebtedness in Default
	  	 	65	  
	 SECTION 8.04.
	  	 Payment Permitted If No Default
	  	 	66	  
	 SECTION 8.05.
	  	 Subrogation to Rights of Holders of Senior Indebtedness
	  	 	66	  
	 SECTION 8.06.
	  	 Provisions Solely To Define Relative Rights
	  	 	67	  
	 SECTION 8.07.
	  	 Paying Agent to Effectuate Subordination
	  	 	67	  
	 SECTION 8.08.
	  	 No Waiver of Subordination Provisions
	  	 	67	  
	 SECTION 8.09.
	  	 Notice to Paying Agent
	  	 	68	  
	 SECTION 8.10.
	  	 Reliance on Judicial Order or Certificate of Liquidating Agent
	  	 	69	  
	 SECTION 8.11.
	  	 Paying Agent Not Fiduciary for Holders of Senior Indebtedness
	  	 	69	  
	 SECTION 8.12.
	  	 Rights of Paying Agent as Holder of Senior Indebtedness; Preservation of Paying Agent’s Rights
	  	 	69	  
	 SECTION 8.13.
	  	 [Reserved]
	  	 	70	  
	 SECTION 8.14.
	  	 No Senior Subordinated Indebtedness
	  	 	70	  
	 SECTION 8.15.
	  	 Amendment of Subordination Provisions
	  	 	70	  
	
	ARTICLE 9	  
	
	COVENANTS OF THE COMPANY	  
			
	 SECTION 9.01.
	  	 Payment of Principal, Premium and Interest
	  	 	70	  
	 SECTION 9.02.
	  	 Maintenance of Office or Agency
	  	 	70	  
	 SECTION 9.03.
	  	 Appointments to Fill Vacancies in Trustee’s Office
	  	 	71	  
	 SECTION 9.04.
	  	 Provisions as to Paying Agent
	  	 	71	  
	 SECTION 9.05.
	  	 Existence
	  	 	72	  
	 SECTION 9.06.
	  	 Reports by the Company
	  	 	72	  
	 SECTION 9.07.
	  	 Stay, Extension and Usury Laws
	  	 	73	  
	 SECTION 9.08.
	  	 Compliance Certificate; Statements as to Defaults
	  	 	73	  
	 SECTION 9.09.
	  	 Further Instruments and Acts
	  	 	73	  
	 SECTION 9.10.
	  	 Rule 144A Information
	  	 	74	  
	
	ARTICLE 10	  
	
	LISTS OF NOTEHOLDERS AND REPORTS BY THE COMPANY AND THE TRUSTEE	  
			
	 SECTION 10.01.
	  	 Lists of Noteholders
	  	 	75	  
	 SECTION 10.02.
	  	 Preservation and Disclosure of Lists
	  	 	75	  
	 SECTION 10.03.
	  	 [Reserved]
	  	 	75	  

  
 -iii- 

							
	ARTICLE 11	  
	
	CONCERNING THE TRUSTEE	  
			
	 SECTION 11.01.
	 	 Duties and Responsibilities of Trustee
	  	 	75	  
	 SECTION 11.02.
	 	 Reliance on Documents, Opinions, Etc
	  	 	78	  
	 SECTION 11.03.
	 	 No Responsibility for Recitals, Etc
	  	 	79	  
	 SECTION 11.04.
	 	 Trustee, Paying Agents, Conversion Agents or Note Registrar May Own Notes
	  	 	79	  
	 SECTION 11.05.
	 	 Monies to be Held in Trust
	  	 	79	  
	 SECTION 11.06.
	 	 Compensation and Expenses of Trustee
	  	 	79	  
	 SECTION 11.07.
	 	 Officers’ Certificate as Evidence
	  	 	80	  
	 SECTION 11.08.
	 	 [Reserved]
	  	 	81	  
	 SECTION 11.09.
	 	 Eligibility of Trustee
	  	 	81	  
	 SECTION 11.10.
	 	 Resignation or Removal of Trustee
	  	 	81	  
	 SECTION 11.11.
	 	 Acceptance by Successor Trustee
	  	 	82	  
	 SECTION 11.12.
	 	 Succession by Merger, Etc
	  	 	83	  
	 SECTION 11.13.
	 	 [Reserved]
	  	 	83	  
	 SECTION 11.14.
	 	 Trustee’s Application for Instructions from the Company
	  	 	83	  
	
	ARTICLE 12	  
	
	CONCERNING THE NOTEHOLDERS	  
			
	 SECTION 12.01.
	 	 Action by Noteholders
	  	 	84	  
	 SECTION 12.02.
	 	 Proof of Execution by Noteholders
	  	 	84	  
	 SECTION 12.03.
	 	 Who Are Deemed Absolute Owners
	  	 	84	  
	 SECTION 12.04.
	 	 Company-Owned Notes Disregarded
	  	 	85	  
	 SECTION 12.05.
	 	 Revocation of Consents; Future Noteholders Bound
	  	 	85	  
	
	ARTICLE 13	  
	
	SATISFACTION AND DISCHARGE	  
			
	 SECTION 13.01.
	 	 Satisfaction and Discharge of the Indenture
	  	 	86	  
	 SECTION 13.02.
	 	 Deposit of Monies to be Held in Trust by Trustee
	  	 	86	  
	 SECTION 13.03.
	 	 Paying Agent to Repay Monies Held
	  	 	87	  
	 SECTION 13.04.
	 	 Return of Unclaimed Monies
	  	 	87	  
	 SECTION 13.05.
	 	 Reinstatement
	  	 	87	  
	
	ARTICLE 14	  
	
	MISCELLANEOUS	  
			
	 SECTION 14.01.
	 	 Provisions Binding on Company’s Successors
	  	 	87	  
	 SECTION 14.02.
	 	 Official Acts by Successor Corporation
	  	 	87	  
	 SECTION 14.03.
	 	 Addresses for Notices, Etc
	  	 	87	  

  
 -iv- 

							
	 SECTION 14.04.
	 	 Governing Law
	  	 	89	  
	 SECTION 14.05.
	 	 Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee
	  	 	89	  
	 SECTION 14.06.
	 	 Payments on Business Days
	  	 	90	  
	 SECTION 14.07.
	 	 No Security Interest Created
	  	 	90	  
	 SECTION 14.08.
	 	 [Reserved]
	  	 	90	  
	 SECTION 14.09.
	 	 Benefits of Indenture
	  	 	90	  
	 SECTION 14.10.
	 	 Authenticating Agent
	  	 	90	  
	 SECTION 14.11.
	 	 Calculations
	  	 	91	  
	 SECTION 14.12.
	 	 Rules by Trustee, Paying Agent and Note Registrar
	  	 	91	  
	 SECTION 14.13.
	 	 Table of Contents, Headings, Etc
	  	 	91	  
	 SECTION 14.14.
	 	 Execution in Counterparts
	  	 	91	  
	 SECTION 14.15.
	 	 Severability
	  	 	91	  
	 SECTION 14.16.
	 	 No Recourse Against Others
	  	 	91	  
	 SECTION 14.17.
	 	 Waiver of Jury Trial
	  	 	92	  
	 SECTION 14.18.
	 	 Force Majeure
	  	 	92	  
	
	ARTICLE 15	  
	
	REDEMPTION	  
			
	 SECTION 15.01.
	 	 Right to Redeem
	  	 	92	  
	 SECTION 15.02.
	 	 Notices to Paying Agent
	  	 	92	  
	 SECTION 15.03.
	 	 Selection of Notes to Be Redeemed
	  	 	93	  
	 SECTION 15.04.
	 	 Notice of Redemption
	  	 	93	  
	 SECTION 15.05.
	 	 Effect of Redemption Notice
	  	 	94	  
	 SECTION 15.06.
	 	 Deposit of Redemption Price
	  	 	94	  
	 SECTION 15.07.
	 	 Notes Redeemed in Part
	  	 	94	  
	 SECTION 15.08.
	 	 Effect of Redemptions in Part
	  	 	95	  
	 SECTION 15.09.
	 	 Conditions to Redemption
	  	 	95	  

							
	
	EXHIBITS	  
			
	 Exhibit A
	 	 Form of Face of Global Note
	  	 	A-1	  
	 Exhibit B
	 	 Form of Notice of Conversion
	  	 	B-1	  
	 Exhibit C
	 	 Form of Fundamental Change Purchase Notice
	  	 	C-1	  
	 Exhibit D
	 	 Form of Assignment and Transfer
	  	 	D-1	  
	 Exhibit E
	 	 Form of Free Transferability Certificate
	  	 	E-1	  

  
 -v- 

 INDENTURE, dated as of March 24, 2014, between Navistar International Corporation, a
Delaware corporation (the “Company,” as more fully set forth in Section 1.02), and The Bank of New York Mellon Trust Company, N.A., a national banking association, in its capacity as trustee hereunder (the
“Trustee,” as more fully set forth in Section 1.02) (as amended or supplemented from time to time in accordance with the terms thereof, the “Indenture”). 

RECITALS 
 WHEREAS, for
its lawful corporate purposes, the Company has duly authorized the issuance of its 4.75% Senior Subordinated Convertible Notes due 2019 (the “Notes”), in an aggregate principal amount not to exceed $370,000,000 (or $425,500,000 if
the Initial Purchasers exercise their option to purchase additional Notes in full as set forth in the Purchase Agreement), and in order to provide the terms and conditions upon which the Notes are to be authenticated, issued and delivered, the
Company has duly authorized the execution and delivery of this Indenture; and 
 WHEREAS, the Form of Note, the certificate of
authentication to be borne by each Note, the Form of Notice of Conversion, the Form of Fundamental Change Purchase Notice and the Form of Assignment and Transfer to be borne by the Notes are to be substantially in the forms hereinafter provided for;
and 
 WHEREAS, all acts and things necessary to make the Notes, when executed by the Company and authenticated and delivered by the Trustee
or a duly authorized authenticating agent, as in this Indenture provided, the valid, binding and legal obligations of the Company, and to constitute these presents a valid agreement according to its terms, have been done and performed, and the
execution of this Indenture and the issue hereunder of the Notes have in all respects been duly authorized; 
 NOW, THEREFORE, THIS
INDENTURE WITNESSETH, for and in consideration of the premises and the purchases of the Notes by the Holders thereof, it is mutually agreed, for the benefit of the Company and the equal and proportionate benefit of all Holders of the Notes, as
follows: 
 ARTICLE 1 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 

SECTION 1.01. General. The terms defined in Section 1.02 (except as herein otherwise expressly provided or unless the
context otherwise requires) for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in Section 1.02. All other terms used in this Indenture that are defined in the
Securities Act (except as herein otherwise expressly provided or unless the context otherwise requires) shall have the meanings assigned to such terms in said Securities Act as in force at the date of the execution of this Indenture. The words
“herein,” “hereof,” “hereunder,” and words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. The terms defined

 
in this Article include the plural as well as the singular. All accounting terms not otherwise defined herein shall have the meanings assigned to them in accordance with generally accepted
accounting principles, and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder shall mean such accounting principles as are
generally accepted at the date of this instrument 
 SECTION 1.02. Definitions. 

“Additional Interest” has the meaning specified in Section 5.02. 

“Additional Notes” has the meaning specified in Section 2.01. 

“Additional Shares” has the meaning specified in Section 4.06(a). 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For the purposes of this definition, “control,” when used with respect to any specified Person means the power to direct or cause the direction of the management and policies of
such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Agent Members” has the meaning specified in Section 2.06(c). 

“Authenticating Agent” has the meaning specified in Section 14.10. 

“Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief of debtors. 

“Bid Solicitation Agent” means the Company or such other Person as may be appointed, from time to time, by the Company to
solicit market bid quotations for the Notes in accordance with Section 4.01(a)(ii). 
 “Board of Directors” means
the board of directors of the Company or a committee of such board duly authorized to act for it hereunder. 
 “Board
Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors, and to be in full force and effect on the date of such certification, and
delivered to the Trustee. 
 “Business Day” means, with respect to any Note, any day other than a Saturday, a Sunday or a
day on which the Federal Reserve Bank of New York is authorized or required by law or executive order to close or to be closed. 

  
 2 

 “Capital Stock” means, for any entity, any and all shares, interests, rights to
purchase, warrants, options, participations or other equivalents of or interests in (however designated) stock issued by that entity. 

“Cash Settlement” has the meaning specified in Section 4.03(a). 

“Clause A Distribution” has the meaning specified in Section 4.04(c). 

“Clause B Distribution” has the meaning specified in Section 4.04(c). 

“Clause C Distribution” has the meaning specified in Section 4.04(c). 

“close of business” means 5:00 p.m. (New York City time). 

“Closing Date” means the date on which the Notes are originally issued under this Indenture. 

“Combination Settlement” has the meaning specified in Section 4.03(a). 

“Commission” means the Securities and Exchange Commission. 

“Common Stock” means the shares of common stock, par value $0.10 per share, of the Company as such shares of common stock
exist on the date of this Indenture, subject to Section 4.07. 
 “Company” means Navistar International Corporation,
a Delaware corporation, and subject to the provisions of Article 6, shall include its successors and assigns but not any of their respective subsidiaries. 

“Company Order” means a written request or order signed in the name of the Company by two Officers of the Company. 

“Continuing Director” means a director who either was a member of the Company’s Board of Directors on March 24,
2014, or who becomes a member of the Company’s Board of Directors subsequent to such date and whose appointment or election by the Company’s Board of Directors or nomination for election by the Company’s stockholders is approved
(a) by the vote of at least a majority of the directors then still in office or whose appointment, election or nomination was previously so approved or recommended or (b) with respect to directors whose appointment or election to the
Company’s Board of Directors is made by the holders of the Company’s non-convertible junior preference stock, series B, by the holders of such preference stock. 

“Conversion Agent” means any conversion agent designated by the Company where Notes may be presented for conversion. The
Conversion Agent shall initially be the Trustee. 
 “Conversion Date” has the meaning specified in Section 4.02(b).

  
 3 

 “Conversion Notice” has the meaning specified in Section 4.02(b). 

“Conversion Obligation” has the meaning specified in Section 4.03(a). 

“Conversion Price” means, in respect of each Note, as of any date, $1,000, divided by the Conversion Rate as of such date.

 “Conversion Rate” means, initially, 18.4946 shares of Common Stock per $1,000 principal amount of Notes, subject to
adjustment as set forth herein. 
 “Cook County Loan Agreement” means the Loan Agreement, dated as of October 1, 2010,
between the Company and the County of Cook, Illinois. 
 “Corporate Trust Office” means the principal office of the Trustee
at which at any time its corporate trust business shall be administered, which office at the date hereof is located at The Bank of New York Mellon Trust Company, N.A., 2 North LaSalle Street, Suite 1020, Chicago, IL 60602, Attention: Global Trust
Services, or such other address as the Trustee may designate from time to time by notice to the Noteholders and the Company, or the principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may
designate from time to time by notice to the Holders and the Company). 
 “Custodian” means the Paying Agent, as custodian
with respect to the Notes (so long as the Notes constitute Global Notes), or any successor entity. 
 “Daily Cash Amount”
has the meaning specified in Section 4.03(d). 
 “Daily Conversion Value” means, for each of the 20 consecutive
Trading Days during the Observation Period, 5% of the product of (i) the applicable Conversion Rate on such Trading Day and (ii) the Daily VWAP of the Common Stock on such Trading Day. 

“Daily Settlement Amount” has the meaning specified in Section 4.03(d). 

“Daily VWAP” means, for each of the 20 consecutive Trading Days during the Observation Period, the per share volume-weighted
average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “NAV <equity> AQR” (or any successor thereto) in respect of the period from the scheduled open of trading until the scheduled close of trading
of the primary trading session on such Trading Day (or if such volume-weighted average price is unavailable, the market value of one share of Common Stock on such Trading Day, determined using a volume-weighted average method, by a nationally
recognized independent investment banking firm retained for such purpose by the Company). The Daily VWAP will be determined without regard to after-hours trading or any other trading outside of the regular trading session trading hours. 

  
 4 

 “Default” means any event that is, or after notice or passage of time, or both,
would be, an Event of Default. 
 “Defaulted Interest” means any interest on any Note that is payable, but is not
punctually paid or duly provided for, on any Interest Payment Date. 
 “Depositary” or “Depository” means,
with respect to the Global Notes the Person specified in Section 2.06 as the Depositary with respect to such Notes, until a successor shall have been appointed and become such pursuant to the applicable provisions of this Indenture, and
thereafter, “Depositary” shall mean such successor Depositary. 
 “Designated Senior Indebtedness” means
(i) the Company’s 8.25% Senior Notes due 2021, (ii) indebtedness under the Cook County Loan Agreement, (iii) indebtedness under the IFA Loan Agreement, (iv) the Company’s guarantee of the Credit Agreement dated as of
August 17, 2012, by and among Navistar, Inc., as borrower, the Company and the banks named therein and (v) any future Senior Indebtedness the principal amount of which is $15,000,000 or more and designated as such by the Company in an
Officers’ Certificate to the Paying Agent. 
 “Effective Date” has the meaning specified in Section 4.06(c).

 “Event of Default” has the meaning specified in Section 5.01. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

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

“Fiscal Year” means a fiscal year of the Company. 

“Free Trade Date” means the date that is one year after the last date of the original issuance of the Notes. 

“Fundamental Change” will be deemed to have occurred at the time after the Notes are originally issued if any of the
following occurs: 
 (1) a “person” or “group” within the meaning of Section 13(d) of the Exchange
Act, other than the Company, its Subsidiaries, and its and their employee benefit plans, has become the direct or indirect “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 outstanding common equity; 

  
 5 

 (2) consummation of (A) any recapitalization, reclassification or change of
the Company’s Common Stock (other than changes resulting from a subdivision or combination) as a result of which the Common Stock would be converted into, or exchanged for stock, other securities, other property or assets or (B) 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 Subsidiaries; provided, however, that a transaction where the holders of all classes of the
Company’s common equity immediately prior to such transaction (each a “pre-transaction holder”) that is a share exchange, consolidation or merger own, directly or indirectly, more than 50% of all classes of common equity of the
continuing or surviving corporation or transferee or the parent thereof immediately after such event shall not be a Fundamental Change, so long as the proportion of the respective ownership of each pre-transaction holder remains substantially the
same relative to all other pre-transaction holders; 
 (3) Continuing Directors cease to constitute at least a majority of
the Company’s Board of Directors; 
 (4) the Company’s stockholders approve any plan or proposal for the
liquidation or dissolution of the Company; or 
 (5) the Common Stock (or other common stock into which the Notes are then
convertible) ceases to be listed or quoted on a national securities exchange in the United States. 
 Notwithstanding the foregoing, a
Fundamental Change as a result of clause (2) above will not be deemed to have occurred if at least 90% of the consideration received or to be received by the holders of the Common Stock, excluding cash payments for fractional shares, in
connection with the transaction or transactions constituting the Fundamental Change consists of Publicly Traded Securities and as a result of such transaction or transactions the Notes become convertible into such Publicly Traded Securities,
excluding cash payments for fractional shares, subject to the provisions set forth under Section 4.03 of this Indenture. 

“Fundamental Change Company Notice” has the meaning specified in Section 3.01(b). 

“Fundamental Change Purchase Date” has the meaning specified in Section 3.01(a). 

“Fundamental Change Purchase Notice” has the meaning specified in Section 3.01(a)(i). 

“Fundamental Change Purchase Offer” has the meaning specified in Section 3.01(a). 

  
 6 

 “Fundamental Change Purchase Price” has the meaning specified in Section
3.01(a). 
 “Global Note” shall have the meaning specified in Section 2.06(b). 

“Hedging Obligations” means, with respect to the Company, the Company’s obligations under (i) interest rate swap
agreements, interest rate cap agreements and interest rate collar agreements, (ii) other agreements or arrangements designed to manage interest rates or interest rate risk, and (iii) other agreements or arrangements designed to manage or
protect the Company against fluctuations in currency exchange rates or commodity prices. 
 “Holder” or
“Noteholder” means a Person in whose name a Note is registered. 
 “IFA Loan Agreement” means the Loan
Agreement, dated as of October 1, 2010, between the Company and the Illinois Finance Authority. 
 “Indenture” means
this instrument, as originally executed and as supplemented from time to time by one or more indentures supplemental hereto. 

“Initial Notes” has the meaning specified in Section 2.01. 

“Initial Purchasers” means the initial purchasers set forth in Schedule 1 to the Purchase Agreement. 

“Interest Payment Date” means, with respect to the payment of interest on the Notes, each April 15 and October 15
of each year, beginning on October 15, 2014. 
 “Last Reported Sale Price” of the Common Stock on any date means the
closing sale price per share of Common Stock (or if no closing sale price is reported, the average of the bid and ask prices or, if more than one in either case, the average of the average bid and the average ask prices) on that date as reported in
composite transactions for the principal U.S. securities exchange on which the Common Stock is traded. If the Common Stock is not listed for trading on a U.S. national or regional securities exchange on the relevant date, the “Last Reported
Sale Price” shall be the last quoted bid price for the Common Stock in the over-the-counter market on the relevant date as reported by Pink OTC Markets Inc. or a similar organization. If the Common Stock is not so quoted, the “Last
Reported Sale Price” shall be the average of the mid-point of the last bid and ask 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. 
 “Lien” means, with respect to any property or assets, any mortgage or deed of trust, pledge,
hypothecation, assignment, security interest, lien, encumbrance, or any other security arrangement of any kind or nature whatsoever on or with respect to such property or assets (including any conditional sale or other title retention agreement
having substantially the same economic effect as any of the foregoing). 

  
 7 

 “Make-Whole Fundamental Change” means any transaction or event that constitutes
a Fundamental Change (determined after giving effect to any exceptions or exclusions to such definition, but without regard to the proviso in clause (2) of the definition of Fundamental Change). 

“Market Disruption Event” means (i) a failure by the primary United States national or regional securities exchange or
market on which the Common Stock is listed or admitted to trading to open for trading during its regular trading session or (ii) the occurrence or existence prior to 1:00 p.m., New York City time, on any Scheduled Trading Day for more than a
one half-hour period in the aggregate during regular trading hours of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant stock exchange or otherwise) in the Common Stock or in
any options, contracts or future contracts relating to the Common Stock. 
 “Measurement Period” has the meaning specified
in Section 4.01(a)(ii). 
 “Merger Event” has the meaning specified in Section 4.07(a). 

“NFC” means Navistar Financial Corporation. 

“Note” or “Notes” has the meaning specified in the fourth paragraph of the recitals of this Indenture, and
shall include any Additional Notes issued pursuant to Section 2.01 hereof. 
 “Note Register” shall have the
meaning specified in Section 2.06(a). 
 “Note Registrar” shall have the meaning specified in Section
2.06(a). 
 “Observation Period” with respect to any Note means (i) if the relevant Conversion Date occurs prior
to October 15, 2018, and a Cash Settlement or a Combination Settlement applies, the 20 consecutive Trading Day period beginning on and including the second Scheduled Trading Day after such Conversion Date, (ii) if the relevant Conversion
Date occurs on or after October 15, 2018, and regardless of the Settlement Method, the 20 consecutive Trading Days beginning on and including the 22nd Scheduled Trading Day immediately
preceding April 15, 2019, and (iii) notwithstanding the foregoing, if the relevant Conversion Date occurs after the date of the issuance of a Redemption Notice as described under Article 15 hereof, but prior to the close of business
on the Business Day immediately preceding the applicable Redemption Date, the 20 consecutive trading-day period beginning on and including the 22nd scheduled trading day immediately preceding the applicable Redemption Date. 

“Offering Memorandum” means the offering memorandum dated March 18, 2014 relating to the purchase and resale of the
Notes. 
 “Officer” means, with respect to the Company, the Chief Executive Officer, the President, the Chief Financial
Officer, any Vice President, the Treasurer or the Secretary. 

  
 8 

 “Officers’ Certificate” means a certificate signed by two Officers.

 “open of business” means 9:00 a.m. (New York City time). 

“Opinion of Counsel” means an opinion in writing acceptable to the Trustee signed by legal counsel, who may be an employee of
or counsel to the Company, that is delivered to the Trustee. Each such opinion shall include the statements provided for in Section 14.05 if and to the extent required by the provisions of such Section. 

“outstanding,” when used with reference to Notes, shall, subject to the provisions of
Section 12.04, mean, as of any particular time, all Notes authenticated and delivered by the Authenticating Agent under this Indenture, except: 

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

(b) Notes, or portions thereof, for the payment or repurchase of which monies in the necessary amount shall have been deposited
in trust with the Paying Agent (other than the Company) or shall have been set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent); 

(c) Notes that have been paid pursuant to Section 2.07 or Notes in lieu of which, or in substitution for which,
other Notes shall have been authenticated and delivered pursuant to the terms of Section 2.07 unless proof satisfactory to the Authenticating Agent is presented that any such Notes are held by protected purchasers in due course; and 

(d) Notes converted pursuant to Article 4. 

“Paying Agent” shall have the meaning specified in Section 9.02. 

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

“Physical Notes” means certificated Notes in definitive form that are not Global Notes. 

“Physical Settlement” has the meaning specified in Section 4.03(a). 

“Place of Payment” means, for purposes of the Notes, New York, New York. 

“Predecessor Note” of any particular Note means every previous Note evidencing all or a portion of the same debt as that
evidenced by such particular Note; and, for the purposes of this definition, any Note authenticated and delivered under Section 2.07 in lieu of or in exchange for a mutilated, lost, destroyed or stolen Note shall be deemed to evidence
the same debt as the mutilated, lost, destroyed or stolen Note that it replaces. 

  
 9 

 “Publicly Traded Securities” means shares of common stock traded on a national
securities exchange in the United States or which will be so traded or quoted when issued or exchanged in connection with a Fundamental Change. 

“Purchase Agreement” means the purchase agreement dated as of March 18, 2014 between the Company and the Initial
Purchasers. 
 “Qualified Securitization Transaction” means any transaction or series of transactions that have been or may
be entered into by any of the Subsidiaries of the Company in connection with or reasonably related to a transaction or series of transactions in which any of the subsidiaries of the Company may sell, convey or otherwise transfer to 

(1) a Securitization Subsidiary or 

(2) any other person, or may grant a security interest in, any receivables or interests therein secured by the merchandise or
services financed thereby (whether such receivables are then existing or arising in the future) of any of the subsidiaries of the Company, and any assets related thereto including, without limitation, all security or ownership interests in
merchandise or services financed thereby, the proceeds of such receivables, and other assets which are customarily sold or in respect of which security interests are customarily granted in connection with securitization transactions involving such
assets. 
 “Redemption Date” means the date specified for redemption of the Notes in accordance with the
terms of the Notes and Article 15. 
 “Redemption Notice” has the meaning specified in Section
15.04. 
 “Redemption Price” has the meaning specified in Section 15.01. 

“Regular Record Date” means, with respect to the payment of interest on the Notes, the April 1 (whether or not a
Business Day) immediately preceding an Interest Payment Date on April 15 and the October 1 (whether or not a Business Day) immediately preceding an Interest Payment Date on October 15. 

“Reference Property” has the meaning specified in Section 4.07(a). 

“Resale Restriction Termination Date,” (i) with respect to the Notes, shall have the meaning specified in
the legend set forth in Section 2.04(a), and (ii) with respect to the Common Stock issued upon conversion of the Notes, shall have the meaning specified in the legend set forth in Section 2.04(b). 

“Responsible Officer” means, when used with respect to the Trustee, any officer within the corporate trust department of the
Trustee or any other officer of the 

  
 10 

 
Trustee who customarily performs functions similar to those performed by the persons who at the time shall be such officers, or to whom any corporate trust matter is referred because of such
person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture. 

“Scheduled Trading Day” means a day that is scheduled to be a Trading Day on the primary United States national securities
exchange or market on which the Common Stock is listed or admitted for trading. If the Common Stock is not so listed or admitted for trading, “Scheduled Trading Day” means a Business Day. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 

“Securitization Subsidiary” means a Subsidiary of the Company existing on the date hereof or formed or acquired thereafter
that engages principally in securitization transactions and in activities other than those reasonably related to or in connection with the entering into of securitization transactions: 

(1) no portion of the indebtedness or any other obligations (contingent or otherwise) of which: 

(i) is guaranteed by the Company or any Subsidiary of the Company, 

(ii) is recourse to or obligates the Company or any Subsidiary of the Company in any way other than pursuant to
representations, warranties and covenants (including those related to servicing) entered into in the ordinary course of business in connection with a Qualified Securitization Transaction (as defined below), or 

(iii) subjects any property or asset of the Company or any Subsidiary of the Company, directly or indirectly, contingently or
otherwise, to any lien or to the satisfaction thereof, other than pursuant to representations, warranties and covenants (including those related to servicing) entered into in the ordinary course of business in connection with a Qualified
Securitization Transaction; 
 (2) with which neither the Company nor any Subsidiary of the Company: 

(i) provides any credit support or 

(ii) has any contract, agreement, arrangement or understanding other than on terms that are fair and reasonable and that are no
less favorable to the Company or such Subsidiary than could be obtained from an unrelated person (other than, in the case of subclauses (a) and (b) of this clause (2), representations, warranties and covenants (including those relating to
servicing) entered into in the ordinary course of business in connection with a Qualified Securitization Transaction and intercompany notes relating to the sale of receivables to such Securitization Subsidiary); and 

  
 11 

 (3) with which neither the Company nor any Subsidiary of the Company has any
obligation to maintain or preserve such Subsidiary’s financial condition or to cause such Subsidiary to achieve certain levels of operating results. For purposes of the foregoing, Navistar Inc. shall not be deemed to be providing credit support
to any Subsidiary of NFC that would otherwise qualify as a Securitization Subsidiary as a result of the terms of the Support Agreement in which Navistar Inc. agrees to provide credit support directly to NFC for the benefit of its lenders (but not
any other provisions). 
 “Senior Indebtedness” means, in respect of the Company, whether now or hereafter incurred: 

(i) the principal, premium, if any, interest and all other amounts owed in respect of the Company’s (A) indebtedness
for money borrowed and (B) indebtedness evidenced by securities, debentures, bonds or other similar instruments; 
 (ii)
all of the Company’s capital lease obligations; 
 (iii) all obligations issued or assumed by the Company as the
deferred purchase price of property, all of the Company’s conditional sale obligations and all of the Company’s obligations under any title retention agreement (but excluding trade accounts payable arising in the ordinary course of
business); 
 (iv) all of the Company’s obligations for the reimbursement of any letter of credit, banker’s
acceptance, security purchase facility or similar credit transaction; 
 (v) all obligations of the type referred to in
clauses (i) through (iv) above of other Persons for the payment of which the Company is responsible or liable as obligor, guarantor or otherwise; 

(vi) all obligations of the type referred to in clauses (i) through (v) above of other Persons secured by any lien on
any of the Company’s properties or assets (whether or not such obligation is assumed by the Company); and 
 (vii) all
Hedging Obligations, 
 except for (x) any such indebtedness that is by its terms subordinated to or pari passu with the Notes
or is subordinated to any other indebtedness, (y) any indebtedness between or among the Company or affiliates of the Company, including all other debt securities and guarantees in respect of those debt securities issued to any trust, or
trustees of such trust, partnership or other entity affiliated with the Company that is, directly or indirectly, a financing vehicle of the Company (a “Financing Entity”) in connection with the issuance by such Financing
Entity of preferred securities or other 

  
 12 

 
securities that rank pari passu with, or junior to, the Notes and (z) accounts payable or other liability to trade creditors arising in the ordinary course of business (including
guarantees thereof or instruments evidencing such liabilities). 
 “Senior Indebtedness Default Notice” has the meaning
specified in Section 8.03(a). 
 “Senior Subordinated Indebtedness” means, with respect to the Company, the Notes,
the Company’s 3.0% Senior Subordinated Convertible Notes due 2014, the Company’s 4.50% Senor Subordinated Convertible Notes due 2018 and any other indebtedness of the Company that specifically provides that such indebtedness is to have the
same rank as the Notes in right of payment and is not subordinated by its terms in right of payment to any indebtedness or other obligation of the Company that is not Senior Indebtedness. 

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

“Significant Subsidiary” of any Person means any “significant subsidiary” of such Person within the meaning of
Article 1, Rule 1-02(w) of Regulation S-X promulgated under the Securities Act. 
 “Spin-Off” has the meaning specified in
Section 4.04(c). 
 “Stated Maturity” means, with respect to any Note and the payment of the principal amount
thereof, April 15, 2019. 
 “Stock Price” has the meaning specified in Section 4.06(c). 

“Subordinated Indebtedness” means, with respect to the Company, any indebtedness of the Company that specifically provides
that such indebtedness is subordinated to the Notes. 
 “Subordinated Obligations” has the meaning set forth in
Section 8.01 hereof. 
 “Subsidiary” means, with respect to 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 (i) such Person; (ii) such Person and one or more Subsidiaries of such Person; or (iii) one or more
Subsidiaries of such Person. 
 “Support Agreement” means the side agreement dated as of July 1, 2005, as amended to
the date of hereof between the Company and Navistar, Inc. (formerly known as International Truck and Engine Corporation), as it may be amended, modified, supplemented, restated or renewed from time to time; provided that such agreement shall
not be amended, modified, supplemented, restated or renewed in a manner adverse in any material respect to the interests of the Company and its Subsidiaries taken as a whole. 

  
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 “Trading Day” means, except as otherwise provided in
Section 4.03(g), a day on which (i) trading in the Common Stock generally occurs on the New York Stock Exchange or, if the Common Stock is not then listed on the New York Stock Exchange, on the principal other United States national
or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a United States national or regional securities exchange, in the principal other market on which the Common Stock is then traded,
and (ii) a Last Reported Sale Price for the Common Stock is available on such securities exchange or market. If the Common Stock (or other security for which a closing sale price must be determined) is not so listed or traded, “Trading
Day” means a Business Day. 
 “Trading Price” of the Notes on any date of determination means the average of the
secondary market bid quotations obtained by the Bid Solicitation Agent for $5,000,000 principal amount of the Notes 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 bids cannot reasonably be obtained by the Bid Solicitation Agent but only 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 Bid Solicitation Agent, that one bid shall be used. If the Bid Solicitation Agent cannot reasonably obtain at least one bid for $5,000,000 principal amount of the Notes from a nationally recognized securities dealer,
then the Trading Price per $1,000 principal amount of Notes will be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the applicable Conversion Rate. 

“Trading Price Condition” has the meaning specified in Section 4.01(a)(ii). 

“Transfer Agent” ” means any stock transfer agent designated by the Company. The Transfer Agent shall initially be
Computershare Investor Services, LLC. 
 “Trigger Event” has the meaning specified in Section 4.04(c). 

“Trustee” means the Person named as the “Trustee” in the first paragraph of this Indenture until a successor
Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder. 

“U.S.” means the United States of America. 

“Valuation Period” has the meaning specified in Section 4.04(c). 

  
 14 

 ARTICLE 2 

THE SECURITIES 
 SECTION
2.01. Designation and Amount. The Notes shall be designated as the “4.75% Convertible Senior Notes due 2019.” The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture
is initially limited to $370,000,000 (or $425,500,000 if the Initial Purchasers exercise their option to purchase additional Notes in full as set forth in the Purchase Agreement) (the “Initial Notes”), except for Notes authenticated
and delivered upon registration or transfer of, or in exchange for, or in lieu of other Notes pursuant to Section 2.06, Section 2.07, Section 3.04, Section 4.02 and Section 7.04 hereof.

 The principal amount of Notes then outstanding shall be payable at Stated Maturity. 

The Company may, without the consent of the Holders of the Notes, hereafter issue additional notes (“Additional Notes”) under
the Indenture with the same terms (other than payment by the purchaser of interest accrued from the date hereof or the most recent Interest Payment Date, as applicable, to but excluding the issue date of such Additional Notes) and with the same
CUSIP numbers (except to the extent necessary for securities law purposes) as the Initial Notes in an unlimited aggregate principal amount; provided that such Additional Notes must be part of the same issue as the Initial Notes for federal
income tax purposes. Any such Additional Notes shall constitute a single series together with the Initial Notes for all purposes hereunder, including, without limitation, for purposes of any waivers, supplements or amendments to the Indenture
requiring the approval of Holders of the Notes and any offers to purchase the Notes. 
 SECTION 2.02. Form of Notes. The Notes and
the Authenticating Agent’s certificate of authentication to be borne by such Notes shall be substantially in the respective forms set forth in Exhibit A, which are incorporated in and made a part of this Indenture. 

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

Any of the Notes may have such letters, numbers or other marks of identification and such notations, legends or endorsements as the officers
executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made
pursuant thereto or with any rule or 

  
 15 

 
regulation of any securities exchange or automated quotation system on which the Notes may be listed or designated for issuance, or to conform to usage or to indicate any special limitations or
restrictions to which any particular Notes are subject. 
 The Global Note shall represent such principal amount of the outstanding Notes as
shall be specified therein and shall provide that it shall represent the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from
time to time be increased or reduced to reflect repurchases, conversions, transfers or exchanges permitted hereby. Any endorsement of the Global Note to reflect the amount of any increase or decrease in the amount of outstanding Notes represented
thereby shall be made by the Transfer Agent or the Custodian, at the direction of the Paying Agent, in such manner and upon instructions given by the holder of such Notes in accordance with this Indenture. Payment of principal, accrued and unpaid
interest, and premium, if any (including any Fundamental Change Purchase Price or the Redemption Price in connection with an optional redemption), on the Global Note shall be made to the holder of such Note on the date of payment, unless a record
date or other means of determining holders eligible to receive payment is provided for herein. 
 The Form of Note, the Form of Notice of
Conversion, the Form of Fundamental Change Purchase Notice and the Form of Assignment and Transfer shall be substantially as set forth in Exhibits A, B, C and D, respectively, hereto, which are incorporated into and shall be deemed a part of this
Indenture, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by the Indenture, and may have such letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may be required to comply with the rules of any securities exchange or as may, consistently herewith, be determined to be necessary or appropriate by the officers of the Company executing such Notes, as evidenced by
their execution of the Notes. 
 SECTION 2.03. Date and Denomination of Notes; Payments of Interest. (a) The Notes shall be
issuable in registered form without coupons in denominations of $1,000 principal amount and integral multiples thereof. Each Note shall be dated the date of its authentication and shall bear interest from the date specified on the face of the form
of Note attached as Exhibit A hereto. Interest on the Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day months. 

The Person in whose name any Note (or its Predecessor Note) is registered on the Note Register at the close of business on any Regular Record
Date with respect to any Interest Payment Date shall be entitled to receive the interest payable on such Interest Payment Date. Interest shall be payable at the office or agency of the Company maintained by the Company for such purposes, which shall
initially be the Corporate Trust Office of the Paying Agent. The Company shall pay interest (a) on any Notes in certificated form by wire transfer in immediately available funds to that Person’s account within the United States (which
account is specified in writing by such Person at least three Business Days prior to such payment), which application shall remain in effect until such Person notifies, in writing, the Note Registrar to the contrary, or (b) on any Global Note
by wire transfer of immediately available funds to the account of the Depositary or its nominee. 

  
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 Any Defaulted Interest shall forthwith cease to be payable to the Noteholder on the relevant
Regular Record Date by virtue of its having been such Noteholder, and such Defaulted Interest shall be paid by the Company, at its election in each case, as provided in clause (1) or (2) below: 

(1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Notes (or their
respective Predecessor Notes) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee and the Paying Agent in
writing of the amount of Defaulted Interest proposed to be paid on each Note and the date of the proposed payment (which shall be not less than 40 days after the receipt by the Trustee and the Paying Agent of such notice, unless the Trustee and the
Paying Agent shall consent to an earlier date), and at the same time the Company shall deposit with the Paying Agent an amount of money equal to the aggregate amount to be paid in respect of such Defaulted Interest or shall make arrangements
satisfactory to the Paying Agent for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon
the Company shall fix a special record date for the payment of such Defaulted Interest which shall be not more than fifteen days and not less than ten days prior to the date of the proposed payment, and not less than ten days after the receipt by
the Trustee and the Paying Agent of the notice of the proposed payment. The Company shall promptly notify the Trustee and the Paying Agent in writing of such special record date and the Trustee and the Paying Agent, in the name and at the expense of
the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first-class postage prepaid, to each holder at its address as it appears in the Note Register, not less than ten
days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Notes (or their
respective Predecessor Notes) are registered at the close of business on such special record date and shall no longer be payable pursuant to the following clause (2) of this Section 2.03. 

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

  
 17 

 SECTION 2.04. Rule 144A Information. (a) Every Note that bears or is required under
this Section 2.04(a) to bear the legend set forth in this Section 2.04(a) (together with any Common Stock issued upon conversion of the Notes and required to bear the legend set forth in Section 2.04(b),
collectively, the “Restricted Securities”) shall be subject to the restrictions on transfer set forth in this Section 2.04(a) (including those contained in the legend set forth below), unless such restrictions on
transfer shall be eliminated or otherwise waived by written consent of the Company with written notice to the Trustee and the Paying Agent as provided below. The Holder of each such Restricted Security, by such Holder’s acceptance thereof,
agrees to be bound by all such restrictions on transfer. As used in this Section 2.04(a) and Section 2.04(b), the term “transfer” encompasses any sale, pledge, transfer or other disposition whatsoever of any
Restricted Security. 
 Until the Resale Restriction Termination Date, any certificate evidencing such Note (and all securities issued in
exchange therefor or substitution thereof, other than Common Stock, if any, issued upon conversion thereof, which shall bear the legend set forth in Section 2.04(b), if applicable) shall bear a legend in substantially the following form
(unless such Notes have been transferred pursuant to a registration statement that has become or been declared effective under the Securities Act and that continues to be effective at the time of such transfer, or sold pursuant to the exemption from
registration provided by Rule 144 or any similar provision then in force under the Securities Act, or unless otherwise agreed by the Company in writing, with notice thereof to the Trustee and the Paying Agent): 

THIS NOTE AND THE COMMON STOCK, IF ANY, ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED PRIOR TO THE RESALE RESTRICTION TERMINATION DATE EXCEPT: 

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

(B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, OR 

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

(D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH CLAUSE
(D) ABOVE, THE COMPANY, THE TRUSTEE, AND THE PAYING AGENT RESERVE THE RIGHT TO REQUIRE THE DELIVERY 

  
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OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND
APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

THE “RESALE RESTRICTION TERMINATION DATE” MEANS THE LATER OF: (A) THE DATE THAT IS ONE YEAR AFTER THE LAST ORIGINAL
ISSUANCE DATE OF THE NOTES OR SUCH SHORTER PERIOD OF TIME PERMITTED BY RULE 144 OR ANY SUCCESSOR PROVISION THERETO; AND (B) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW. 

No transfer of any Note prior to the Resale Restriction Termination Date will be registered by the Note Registrar unless the applicable box on
the Form of Assignment and Transfer has been checked. 
 Any Note (or security issued in exchange or substitution therefor) as to which such
restrictions on transfer shall have expired in accordance with their terms may, upon surrender of such Note for exchange to the Note Registrar in accordance with the provisions of this Section 2.04(a), be exchanged for a new Note or
Notes, of like tenor and aggregate principal amount, which shall not bear the restrictive legend required by this Section 2.04(a) and shall not be assigned a restricted CUSIP number. No later than the fifth day immediately following the Free
Trade Date, the Company shall cause every beneficial interest in any Note represented by a Global Note that bears the restricted legend specified in this Section 2.04(a) to be automatically exchanged for beneficial interests in a Global Note
that shall not bear such restrictive legend and shall not be assigned a restricted CUSIP number. To effect such exchange, the Company (A) will deliver to the Depositary an instruction letter for the Depositary’s mandatory exchange process
at least 15 days immediately prior to the Free Trade Date and (B) will deliver to each of the Trustee and the Note Registrar a duly completed free transferability certificate in the form set forth on Exhibit E (the “Free Transferability
Certificate”) promptly upon the occurrence of the Free Trade Date. Upon receipt of the Free Transferability Certificate by the Trustee and the Note Registrar, the legend set forth above shall be deemed removed from each Global Note
specified in the Free Transferability Certificate and the restricted CUSIP number shall be deemed removed from each such Global Note and deemed replaced with an unrestricted CUSIP number, with no further action required by the Company, the Trustee,
the Note Registrar, or, if applicable, the Depositary. Prior to the Company’s delivery of the Free Transferability Certificate and afterwards, the Company, the Trustee, and the Note Registrar will comply with the rules and procedures of the
Depositary and otherwise use reasonable efforts to cause each Global Note to be identified by an unrestricted CUSIP number in the facilities of the Depositary by the Free Trade Date or as promptly as possible thereafter. In addition, on the Free
Trade Date or promptly thereafter, the Company, or the Trustee upon written instruction by the Company, will provide Bloomberg L.P. with a copy of the Free Transferability Certificate and will use reasonable efforts to cause Bloomberg L.P. to adjust
its screen 

  
 19 

 
page for the Notes to indicate that the Notes are no longer Restricted Securities and are now identified by an unrestricted CUSIP number. Notwithstanding anything to the contrary in this
paragraph, the Company will not be required to deliver or provide the Free Transferability Certificate if it reasonably believes that removal of the restrictive legend or the changes to the CUSIP number for the Notes could result in or facilitate
transfers of the Notes in violation of applicable law; provided that, this sentence does not limit the application of Section 9.10. 

The Company shall promptly notify the Trustee and the Holders in writing after a registration statement, if any, with respect to the Notes or
any Common Stock issued upon conversion of the Notes has been declared effective under the Securities Act. 
 (b) Until the Resale
Restriction Termination Date, any stock certificate representing Common Stock issued upon conversion of such Note shall bear a legend in substantially the following form (unless the Note or such Common Stock has been transferred pursuant to a
registration statement that has become or been declared effective under the Securities Act and that continues to be effective at the time of such transfer, or pursuant to the exemption from registration provided by Rule 144 or any similar provision
then in force under the Securities Act, or such Common Stock has been issued upon conversion of Notes that have been transferred pursuant to a registration statement that has become or been declared effective under the Securities Act and that
continues to be effective at the time of such transfer, or pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act, or unless otherwise agreed by the Company with written
notice thereof to the Transfer Agent and any other transfer agent for the Common Stock): 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED PRIOR TO THE RESALE RESTRICTION TERMINATION DATE EXCEPT: 

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

(B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, OR 

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

(D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH CLAUSE
(D) ABOVE, THE COMPANY AND THE TRANSFER AGENT FOR THE COMPANY’S COMMON STOCK RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, 

  
 20 

 
CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES
LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 THE
“RESALE RESTRICTION TERMINATION DATE” MEANS THE LATER OF: (A) THE DATE THAT IS ONE YEAR AFTER THE LAST ORIGINAL ISSUANCE DATE OF THE COMPANY’S 4.75% SENIOR SUBORDINATED CONVERTIBLE NOTES DUE 2019 OR SUCH SHORTER PERIOD OF
TIME PERMITTED BY RULE 144 OR ANY SUCCESSOR PROVISION THERETO; AND (B) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW. 

Any such Common Stock as to which such restrictions on transfer shall have expired in accordance with their terms may, upon surrender of the
certificates representing such shares of Common Stock for exchange in accordance with the procedures of the Transfer Agent for the Common Stock, be exchanged for a new certificate or certificates for a like aggregate number of shares of Common
Stock, which shall not bear the restrictive legend required by this Section 2.04(b). 
 (c) The Company shall not, and shall not
permit any of the “affiliates” (as defined in Rule 144) it controls to, resell any of the Notes that constitute “restricted securities” under Rule 144 that have been reacquired by any of them. 

SECTION 2.05. Execution, Authentication and Delivery of Notes. The Notes shall be signed in the name and on behalf of the Company by
the manual or facsimile signature of its Chief Executive Officer, President, Treasurer, Secretary or any of its Vice Presidents. 
 At any
time and from time to time after the execution and delivery of this Indenture, the Company may deliver Notes executed by the Company to the Authenticating Agent for authentication, together with a Company Order for the authentication and delivery of
such Notes, which order shall set forth the number of separate Note certificates, the principal amount of each of the Notes to be authenticated, the date on which the original issuance of Notes is to be authenticated, the registered holders of the
said Notes and delivery instructions, and the Authenticating Agent in accordance with such Company Order shall authenticate and deliver such Notes. 

Only such Notes as shall bear thereon a certificate of authentication substantially in the form set forth on the form of Note attached as
Exhibit A hereto, executed manually by an authorized signatory of the Authenticating Agent, shall be entitled to the benefits of this Indenture or be valid or obligatory for any purpose. Such certificate by the Authenticating Agent upon any Note
executed by the Company shall be conclusive evidence that the Note so authenticated has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits of this Indenture. 

  
 21 

 In case any officer of the Company who shall have signed any of the Notes shall cease to be such
officer before the Notes so signed shall have been authenticated and delivered by the Authenticating Agent, or disposed of by the Company, such Notes nevertheless may be authenticated and delivered or disposed of as though the person who signed such
Notes had not ceased to be such officer of the Company; and any Note may be signed on behalf of the Company by such persons as, at the actual date of the execution of such Note, shall be the proper officers of the Company, although at the date of
the execution of this Indenture any such person was not such an officer. 
 SECTION 2.06. Exchange and Registration of Transfer of Notes;
Depositary. (a) The Company shall cause to be kept at the Corporate Trust Office a register (the register maintained in such office or in any other office or agency of the Company designated pursuant to Section 9.02 being herein
sometimes collectively referred to as the “Note Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Notes and of transfers of Notes. Such register shall
be in written form or in any form capable of being converted into written form within a reasonable period of time. The Company initially appoints the Trustee as “Note Registrar” for the purpose of registering Notes and transfers of
Notes as herein provided. The Company may appoint one or more co-registrars in accordance with Section 9.02. 
 Upon surrender
for registration of transfer of any Note to the Note Registrar or any co-registrar, and satisfaction of the requirements for such transfer set forth in this Section 2.06, the Company shall execute, and the Authenticating Agent shall
authenticate and deliver, in the name of the designated transferee or transferees, one or more new Notes of any authorized denominations and of a like aggregate principal amount and bearing such restrictive legends as may be required by this
Indenture. 
 Notes may be exchanged for other Notes of any authorized denominations and of a like aggregate principal amount, upon
surrender of the Notes to be exchanged at any such office or agency maintained by the Company pursuant to Section 9.02. Whenever any Notes are so surrendered for exchange, the Company shall execute, and the Authenticating Agent shall
authenticate and deliver, the Notes that the holder making the exchange is entitled to receive, bearing registration numbers not contemporaneously outstanding. 

All Notes presented or surrendered for registration of transfer or for exchange, repurchase or conversion shall (if so required by the
Company, the Transfer Agent, the Paying Agent, the Conversion Agent, the Note Registrar or any co-registrar) be duly endorsed, or be accompanied by a written instrument or instruments of transfer in form satisfactory to the Company and duly executed
by the holder thereof or its attorney-in-fact duly authorized in writing. 
 No service charge shall be charged to the Noteholder for any
exchange or registration of transfer of Notes, but the Company or the Trustee may require payment of a sum sufficient to cover any tax, assessments or other governmental charges that may be imposed in connection therewith as a result of the name of
the holder of the new Notes 

  
 22 

 
issued upon such exchange or registration of transfer of Notes being different from the name of the holder of the old Notes presented or surrendered for such exchange or registration of transfer.

 None of the Company, the Trustee, the Note Registrar or any co-registrar shall be required to exchange or register a transfer of
(i) any Notes surrendered for conversion or, if a portion of any Note is surrendered for conversion, such portion thereof surrendered for conversion or (ii) any Notes, or a portion of any Note, surrendered for repurchase (and not
withdrawn) in accordance with Article 3 hereof. 
 All Notes issued upon any registration of transfer or exchange of Notes in
accordance with this Indenture shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture as the Notes surrendered upon such registration of transfer or exchange. 

(b) So long as the Notes are eligible for book-entry settlement with the Depositary, unless otherwise required by law, all Notes shall be
represented by one or more Notes in global form (each, a “Global Note”) registered in the name of the Depositary or the nominee of the Depositary. The transfer and exchange of beneficial interests in a Global Note that does not
involve the issuance of a Physical Note shall be effected through the Depositary (but not the Transfer Agent, the Paying Agent, the Trustee or the Custodian) in accordance with this Indenture and the procedures of the Depositary therefor. 

(c) Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under this Indenture with respect
to any Global Note held on their behalf by the Depositary or under the Global Note, and the Depositary (including, for this purpose, its nominee) may be treated by the Company, the Transfer Agent, the Paying Agent, the Trustee and any agent of the
Company or the Trustee as the absolute owner and Holder of such Global Note for all purposes whatsoever. 
 (d) Notwithstanding any other
provisions of this Indenture (other than the provisions set forth in this Section 2.04(a)), a Global Note may not be transferred as a whole or in part except (i) by the Depositary to a nominee of the Depositary or by a
nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary and (ii) for transfers of portions of a Global Note in
certificated form made upon request of a member of, or a participant in, the Depositary (for itself or on behalf of a beneficial owner) by written notice given to the Trustee by or on behalf of the Depositary in accordance with customary procedures
of the Depositary and in compliance with this Section 2.04(a). 
 The Depositary shall be a clearing agency registered under
the Exchange Act. The Company initially appoints The Depository Trust Company (“DTC”) to act as Depositary with respect to each Global Note. Initially, each Global Note shall be issued to the Depositary, registered in the name of
Cede & Co., as the nominee of the Depositary, and deposited with the Paying Agent as custodian for Cede & Co. Neither the Trustee nor any agent of the Trustee shall have any responsibility or liability for any actions taken or not
taken by the Depositary. 

  
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 If (i) the Depositary notifies the Company at any time that the Depositary is unwilling or
unable to continue as depositary for the Global Notes and a successor depositary is not appointed within 90 days, (ii) the Depositary ceases to be registered as a clearing agency under the Exchange Act and a successor depositary is not
appointed within 90 days, or (iii) an Event of Default with respect to the Notes has occurred and is continuing and a beneficial owner of any Note requests that its beneficial interest therein be issued as a Physical Note, the Company shall
execute, and the Authenticating Agent, upon receipt of an Officers’ Certificate, Opinion of Counsel and a Company Order for the authentication and delivery of Notes, shall authenticate and deliver (x) in the case of clause (iii), a
Physical Note to such beneficial owner in a principal amount equal to the principal amount of such Note corresponding to such beneficial owner’s beneficial interest and (y) in the case of clause (i) or (ii), Physical Notes to each
beneficial owner of the related Global Notes (or a portion thereof) in an aggregate principal amount equal to the aggregate principal amount of such Global Notes in exchange for such Global Notes, and upon delivery of the Global Notes to the Paying
Agent such Global Notes shall be canceled. 
 Physical Notes issued in exchange for all or a part of the Global Note pursuant to this
Section 2.06(d) shall be registered in such names and in such authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Note Registrar. Upon
execution and authentication, the Trustee shall deliver such Physical Notes to the Persons in whose names such Physical Notes are so registered. 

At such time as all interests in a Global Note have been converted, canceled, repurchased or transferred, such Global Note shall be, upon
receipt thereof, canceled by the Paying Agent in accordance with standing procedures and existing instructions between the Depositary and the Custodian. At any time prior to such cancellation, if any interest in a Global Note is exchanged for
Physical Notes, converted, canceled, repurchased or transferred to a transferee who receives Physical Notes therefor or any Physical Note is exchanged or transferred for part of such Global Note, the principal amount of such Global Note shall, in
accordance with standing procedures and existing instructions between the Depositary and the Custodian, be appropriately reduced or increased, as the case may be, and an endorsement shall be made on the Schedule of Exchanges of such Global Note, by
the Transfer Agent or the Custodian, at the direction of the Paying Agent, to reflect such reduction or increase. 
 None of the Company or
the Trustee nor any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Note or maintaining, supervising
or reviewing any records relating to such beneficial ownership interests. 

  
 24 

 SECTION 2.07. Mutilated, Destroyed, Lost or Stolen Notes. In case any Note shall become
mutilated or be destroyed, lost or stolen, the Company in its discretion may execute, and upon its written request the Authenticating Agent shall authenticate and deliver, a new Note, bearing a number not contemporaneously outstanding, in exchange
and substitution for the mutilated Note, or in lieu of and in substitution for the Note so destroyed, lost or stolen. In every case the applicant for a substituted Note shall furnish to the Company and the Trustee such security or indemnity as may
be required by them to save each of them harmless from any loss, liability, cost or expense caused by or connected with such substitution, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company, to the
Trustee and, if applicable, to such authenticating agent evidence to their satisfaction of the destruction, loss or theft of such Note and of the ownership thereof. 

The Authenticating Agent may authenticate any such substituted Note and deliver the same upon the receipt of such security or indemnity as the
Trustee and the Company may require. Upon the issuance of any substitute Note, the Company or the Trustee may require the payment by the holder of a sum sufficient to cover any tax, assessment or other governmental charge that may be imposed in
relation thereto and any other expenses connected therewith. In case any Note that has matured or is about to mature or has been tendered for repurchase upon a Fundamental Change or in connection with an optional redemption or is about to be
converted into cash, shares of Common Stock or a combination of cash and shares of Common Stock, as applicable, shall become mutilated or be destroyed, lost or stolen, the Company may, in its sole discretion, instead of issuing a substitute Note,
pay or authorize the payment of or convert or authorize the conversion of the same (without surrender thereof except in the case of a mutilated Note), as the case may be, if the applicant for such payment or conversion shall furnish to the Company,
the Transfer Agent, the Paying Agent, the Conversion Agent, and, if applicable, to such authenticating agent such security or indemnity as may be required by them to save each of them harmless for any loss, liability, cost or expense caused by or
connected with such substitution, including without limitation if a Note is replaced and subsequently presented or claimed for payment and, in every case of destruction, loss or theft, evidence satisfactory to the Company, the Transfer Agent, the
Trustee and, if applicable, any Paying Agent or Conversion Agent evidence of their satisfaction of the destruction, loss or theft of such Note and of the ownership thereof. 

Every substitute Note issued pursuant to the provisions of this Section 2.07 by virtue of the fact that any Note is destroyed,
lost or stolen shall constitute an additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Note shall be found at any time, and shall be entitled to all the benefits of (but shall be subject to all the
limitations set forth in) this Indenture equally and proportionately with any and all other Notes duly issued hereunder. To the extent permitted by law, all Notes shall be held and owned upon the express condition that the foregoing provisions are
exclusive with respect to the replacement or payment or conversion or repurchase of mutilated, destroyed, lost or stolen Notes and shall preclude any and all other rights or remedies notwithstanding any law or statute existing or hereafter enacted
to the contrary with respect to the replacement or payment or conversion of negotiable instruments or other securities without their surrender. 

  
 25 

 SECTION 2.08. Temporary Notes. Pending the preparation of Notes in certificated form, the
Company may execute and the Authenticating Agent shall, upon written request of the Company, authenticate and deliver temporary Notes (printed or lithographed). Temporary Notes shall be issuable in any authorized denomination, and substantially in
the form of the Notes in certificated form but with such omissions, insertions and variations as may be appropriate for temporary Notes, all as may be determined by the Company. Every such temporary Note shall be executed by the Company and
authenticated by the Authenticating Agent upon the same conditions and in substantially the same manner, and with the same effect, as the Notes in certificated form. Without unreasonable delay the Company will execute and deliver to the
Authenticating Agent Notes in certificated form (other than any Global Note) and thereupon any or all temporary Notes (other than any Global Note) may be surrendered in exchange therefor, at each office or agency maintained by the Company pursuant
to Section 9.02 and the Authenticating Agent shall authenticate and deliver in exchange for such temporary Notes an equal aggregate principal amount of Notes in certificated form. Such exchange shall be made by the Company at its own
expense and without any charge therefor. Until so exchanged, the temporary Notes shall in all respects be entitled to the same benefits and subject to the same limitations under this Indenture as Notes in certificated form authenticated and
delivered hereunder. 
 SECTION 2.09. Cancellation of Notes Paid, Etc. All Notes surrendered for the purpose of payment, repurchase,
conversion, exchange or registration of transfer, shall, if surrendered to the Company or any Paying Agent or any Note Registrar or any Conversion Agent, be surrendered to the Paying Agent and promptly canceled by it, and no Notes shall be issued in
lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Paying Agent shall dispose of canceled Notes in accordance with its customary procedures. If the Company shall acquire any of the Notes, such acquisition
shall not operate as satisfaction of the Indebtedness represented by such Notes unless and until the same are delivered to the Paying Agent for cancellation. 

SECTION 2.10. CUSIP Numbers. In issuing the Notes, the Company may use “CUSIP” numbers (if then generally in use),
and, if so, the Trustee shall use “CUSIP” numbers in notices issued to Holders of the Notes as a convenience to them; provided that any such notice may state that no representation is made as to the correctness of such
numbers either as printed on the Notes or on such notice and that reliance may be placed only on the other identification numbers printed on the Notes. The Company will promptly notify the Trustee in writing of any change in the “CUSIP”
numbers. 
 SECTION 2.11. Repurchases. The Company may from time to time repurchase the Notes in open market purchases or otherwise
without prior notice to Holders of Notes. Any Notes repurchased by the Company will be immediately retired and not be outstanding for any purpose under this Indenture. 

  
 26 

 ARTICLE 3 

FUNDAMENTAL CHANGES AND PURCHASES THEREUPON 

SECTION 3.01. Purchase at Option of Holders Upon a Fundamental Change. (a) Generally. If a Fundamental Change occurs
at any time prior to April 15, 2019, then each Holder of Notes shall have the right, at such Holder’s option, to require the Company to purchase for cash any or all of such Holder’s Notes, or any portion of the principal amount
thereof, that is equal to $1,000 or a multiple of $1,000, on a date specified by the Company that is no earlier than the 20th calendar day following the date of, and no later than the 35th calendar day following the date of, delivery of the
Fundamental Change Company Notice (as defined below) (the “Fundamental Change Purchase Date”), at a purchase price equal to 100% of the principal amount thereof, together with accrued and unpaid interest thereon to, but excluding,
the Fundamental Change Purchase Date (the “Fundamental Change Purchase Price”); provided, however, that if a Fundamental Change Purchase Date is after a Regular Record Date and on or prior to the Interest Payment Date
to which such Regular Record Date relates, the interest payable in respect of such Interest Payment Date shall be payable to the Holders of record as of the corresponding Regular Record Date and the Fundamental Change Purchase Price shall be equal
to 100% of the principal amount of the Notes to be purchased pursuant to this Article 3. Any Notes purchased by the Company will be paid for in cash. The requirement for the Company to purchase any Notes on the Fundamental Change Purchase
Date will be subject to extension to comply with applicable law. 
 Purchases of Notes under this Section 3.01 shall be made, at
the option of the Holder thereof, upon: 
 (i) delivery to the Paying Agent by a Holder of a duly completed notice (the
“Fundamental Change Purchase Notice”) in the form set forth on the reverse of the Note as Exhibit C thereto, if the Notes are Physical Notes, or in compliance with the Depositary’s procedures for tendering interests in Global
Notes, if the Notes are not Physical Notes, in each case prior to the close of business on the Business Day immediately preceding the Fundamental Change Purchase Date; and 

(ii) delivery of the Notes, in the case of Physical Notes, to the Paying Agent appointed by the Company (together with all
necessary endorsements for transfer), or book-entry transfer of the Notes, in compliance with the procedures of the Depositary, such delivery or transfer being a condition to receipt by the Holder of the Fundamental Change Purchase Price therefor;

 provided, however, that the Company shall have no obligation to deliver a Fundamental Change Company Notice or to purchase
Notes pursuant to this Article 3 if: 
 (A) a third party delivers such notice and makes a fundamental change purchase
offer (a “Fundamental Change Purchase Offer”) in the 

  
 27 

 
manner, at the times and otherwise in compliance with the requirements set forth in this Article 3 applicable to a Fundamental Change Purchase Offer made by the Company and purchases all
Notes properly tendered and not withdrawn under the fundamental change purchase offer; 
 (B) prior to or simultaneously with
the Fundamental Change a Redemption Notice has been given pursuant to Article 15 hereof (unless and until there is a default in the payment of the applicable Redemption Price); or 

(C) if the Company’s obligations under this Indenture are discharged as described under Section 13.01 hereof
on or promptly following the Fundamental Change. 
 The Fundamental Change Purchase Notice in respect of any Notes to be purchased shall
state: 
 (i) if such Notes are Physical Notes, the certificate numbers of such Notes, or if such Notes are in global form,
the Fundamental Change Purchase Notice must also comply with appropriate procedures of the Depositary; 
 (ii) the portion of
the principal amount of such Notes, which must be $1,000 or a multiple thereof; and 
 (iii) that such Notes are to be
purchased by the Company pursuant to the applicable provisions of the Notes and this Indenture. 
 A Fundamental Change Purchase Offer may
be made in advance of a Fundamental Change and may be conditional upon the occurrence of a Fundamental Change if a definitive agreement is in place for the Fundamental Change at the time the Fundamental Change Purchase Offer is made. 

Notwithstanding anything herein to the contrary, any Holder delivering to the Paying Agent the Fundamental Change Purchase Notice contemplated
by this Section 3.01 shall have the right to withdraw, in whole or in part, such Fundamental Change Purchase Notice at any time prior to the close of business on the Business Day immediately preceding the Fundamental Change Purchase Date
by delivery of a written notice of withdrawal to the Paying Agent in accordance with Section 3.03 below. 
 The Paying Agent
shall promptly notify the Company of the receipt by it of any Fundamental Change Purchase Notice or written notice of withdrawal thereof. 

(b) Fundamental Change Company Notice. On or before the 20th calendar day after the occurrence of a Fundamental Change, the
Company shall provide to all Holders of the Notes, the Trustee and the Paying Agent (in the case of any Paying Agent other than the Trustee) a notice (the “Fundamental Change Company Notice”) of the occurrence of such Fundamental
Change and of the purchase right at the option of the Holders arising as a result thereof. Such notice shall be sent by first class mail or, in 

  
 28 

 
the case of any Global Notes, in accordance with the procedures of the Depositary for providing notices. Simultaneously with providing such Fundamental Change Company Notice, the Company shall
issue a press release or publish a notice containing the information included therein or shall publish such information on the Company’s website or through such other public medium as the Company may use at such time. 

Each Fundamental Change Company Notice shall specify: 

(i) the events causing a Fundamental Change; 

(ii) the date of the Fundamental Change; 

(iii) the last date on which a Holder of Notes may exercise the repurchase right pursuant to this Article 3; 

(iv) the Fundamental Change Purchase Price; 

(v) the Fundamental Change Purchase Date; 

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

(vii) if applicable, the applicable Conversion Rate and any adjustments to the applicable Conversion Rate; 

(viii) if applicable, that the Notes with respect to which a Fundamental Change Purchase Notice has been delivered by a Holder
may be converted only if the Holder withdraws the Fundamental Change Purchase Notice in accordance with the Indenture; and 

(ix) the procedures that Holders must follow to require the Company to purchase their Notes. 

No failure of the Company to give the foregoing notices and no defect therein shall limit the purchase rights of the Holders of Notes or
affect the validity of the proceedings for the purchase of the Notes pursuant to this Section 3.01. 
 (c) No Payment During
Events of Default. There shall be no purchase of any Notes pursuant to this Section 3.01 if there has occurred and is continuing an Event of Default with respect to the Notes (other than an Event of Default that is cured by
the payment of the Fundamental Change Purchase Price of the Notes). The Paying Agent will promptly return to the respective Holders thereof any Physical Notes held by it during the continuance of an Event of Default (other than an Event of Default
that is cured by the payment of the Fundamental Change Purchase Price with respect to the Notes) and shall deem canceled any instructions for book-entry transfer of the Notes in compliance with the procedures of the Depositary, in which case, upon
such return and cancellation, the Fundamental Change Purchase Notice with respect thereto shall be deemed to have been withdrawn. 

  
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 SECTION 3.02. Effect of Fundamental Change Purchase Notice. Upon receipt by the Paying
Agent of the Fundamental Change Purchase Notice specified in Section 3.01 hereof, the Holder of the Note in respect of which such Fundamental Change Purchase Notice was given shall (unless such Fundamental Change Purchase Notice is
withdrawn in accordance with Section 3.03 hereof) thereafter be entitled to receive solely the Fundamental Change Purchase Price in cash with respect to such Note. Such Fundamental Change Purchase Price shall be paid to such Holder,
subject to receipt of funds by the Paying Agent, on the later of (x) the Fundamental Change Purchase Date with respect to such Note (provided the conditions in Section 3.01 hereof have been satisfied) and (y) the time of
delivery or book-entry transfer of such Note to the Paying Agent by the Holder thereof in the manner required by Section 3.01 hereof. 

SECTION 3.03. Withdrawal of Fundamental Change Purchase Notice. A Fundamental Change Purchase Notice may be withdrawn (in whole or in
part) by means of a written notice of withdrawal delivered to the Paying Agent in accordance with the Fundamental Change Company Notice at any time prior to the close of business on the date that is at least two Business Days prior to the
Fundamental Change Purchase Date, specifying: 
 (i) the principal amount of the Notes with respect to which such notice of
withdrawal is being submitted; 
 (ii) if Physical Notes have been issued, the certificate numbers of the withdrawn Notes, or
if Physical Notes have not been issued, the notice must comply with appropriate procedures of the Depositary; and 
 (iii)
the principal amount, if any, of such Notes that remains subject to the original Fundamental Change Purchase Notice, which portion must be in principal amounts of $1,000 or a multiple of $1,000. 

The Paying Agent will promptly return to the respective Holders thereof any Physical Notes with respect to which a Fundamental Change Purchase
Notice has been withdrawn in compliance with the provisions of this Section 3.03. 
 SECTION 3.04. Deposit of Fundamental Change
Purchase Price. Prior to 11:00 a.m. (local time in The City of New York) on the date that is at least one Business Day prior to the date on the Fundamental Change Purchase Date, the Company shall deposit with the Paying Agent (or, if the Company
or a Subsidiary or an Affiliate of either of them is acting as the Paying Agent, shall segregate and hold in trust as provided herein) an amount of money (in immediately available funds if deposited on such Business Day) sufficient to pay the
Fundamental Change Purchase Price of all the Notes or portions thereof that are to be purchased as of the Fundamental Change Purchase Date; provided, however, that to the extent any such funds are received by the Paying Agent from the
Company after 11:00 a.m. (local time in The City of New York) on such date, such funds will be deemed to have been deposited within one Business Day of the receipt thereof. If the Paying Agent holds cash sufficient to pay the Fundamental Change
Purchase Price of the Notes for which a Fundamental Change Purchase Notice has been 

  
 30 

 
tendered and not withdrawn in accordance with this Indenture on the Fundamental Change Purchase Date, then as of such Fundamental Change Purchase Date, (a) such Notes will cease to be
outstanding and interest will cease to accrue thereon (whether or not book-entry transfer of such Notes is made or such Notes have been delivered to the Paying Agent) and (b) all other rights of the Holders in respect thereof will terminate
(other than the right to receive the Fundamental Change Purchase Price and previously accrued and unpaid interest upon delivery or book-entry transfer of such Notes). 

SECTION 3.05. Notes Purchased in Whole or in Part. Any Note that is to be purchased, whether in whole or in part, shall be surrendered
at the office of the Paying Agent (with, if the Company or the Trustee so requires in the case of Physical Notes, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the
Holder thereof or such Holder’s attorney duly authorized in writing) and the Company shall execute and the Authenticating Agent shall authenticate and deliver to the Holder of such Note, without service charge, a new Note or Notes, of any
authorized denomination as requested by such Holder in aggregate principal amount equal to, and in exchange for, the portion of the principal amount of the Note so surrendered that is not purchased. 

SECTION 3.06. Covenant to Comply With Applicable Laws Upon Purchase of Notes. In connection with any offer to purchase Notes under
Section 3.01 hereof, the Company shall, in each case if required, (i) comply with Rule 13e-4, Rule 14e-1 and any other tender offer rules under the Exchange Act that may then be applicable, (ii) file a Schedule TO or any other
required schedule under the Exchange Act and (iii) otherwise comply with all federal and state securities laws so as to permit the rights and obligations under Section 3.01 to be exercised in the time and in the manner specified in
Section 3.01, and shall not be deemed to have breached its obligations under the Indenture by virtue of its compliance with such securities laws or regulations. 

SECTION 3.07. Repayment to the Company. To the extent that the aggregate amount of cash deposited by the Company pursuant to
Section 3.04 exceeds the aggregate Fundamental Change Purchase Price of the Notes or portions thereof that the Company is obligated to purchase as of the Fundamental Change Purchase Date, then, following the Fundamental Change Purchase
Date, the Paying Agent shall promptly return any such excess 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, each Holder of Notes shall have the right, at such Holder’s option, to convert the principal amount of any such Notes, or any portion of
such principal amount equal to $1,000 or a multiple of $1,000 thereof, at the Conversion Rate in effect on the Conversion Date for such Notes, (x) prior to October 15, 2018, only upon satisfaction of one or more of the conditions described
in clauses (i) through (v) below and (y) on or after October 15, 2018, at any time prior to the close of business on the second Scheduled Trading Day immediately preceding April 15, 2019 irrespective of the conditions
described in clauses (i) through (v) below: 
 (i) Prior to October 15, 2018, a Holder of Notes may surrender
all or a portion of its Notes for conversion during any fiscal quarter (and only during such fiscal quarter) commencing after April 30, 2014, if the Last Reported Sale Price of the Common Stock for at least 20 Trading Days (whether or not
consecutive) during the period of 30 consecutive Trading Days ending on the last Trading Day of the immediately preceding fiscal quarter is greater than or equal to 130% of the applicable Conversion Price in effect on each applicable Trading Day.
The Company shall notify the Trustee and the Conversion Agent if the Notes become convertible in accordance with this Section 4.01 (a)(i). 

(ii) Prior to October 15, 2018, a Holder of Notes may surrender its Notes for conversion during the five Business Day
period after any five consecutive Trading Day period (the “Measurement Period”) in which the Trading Price per $1,000 principal amount of Notes, as determined following a request by a Holder of Notes in accordance with the
procedures set forth in this Section 4.01(a)(ii), for each Trading Day of such period was less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on such Conversion Date (the
“Trading Price Condition”). The Bid Solicitation Agent shall have no obligation to determine the Trading Price of the Notes in accordance with this Section 4.01(a)(ii) unless requested by the Company, and the Company
shall have no obligation to make such request unless a Holder of Notes provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Notes would be less than 98% of the product of the Last Reported Sale Price of
the Common Stock and the applicable Conversion Rate. The Company shall instruct the Bid Solicitation Agent to determine (or, if the Company is then acting as Bid Solicitation Agent, the Company shall determine) the Trading Price of the Notes
beginning on the next Trading Day promptly following the receipt of such evidence and on each successive Trading Day until such Trading Day on which the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the
product of the Last Reported Sale Price of the Common Stock and the applicable Conversion Rate. If the Company does not so instruct the Bid Solicitation Agent to obtain (or, if the Company is then acting as Bid Solicitation Agent, the Company does
not obtain) bids when required, the Trading Price per $1,000 principal amount of the Notes shall be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the applicable Conversion Rate on each day the
Company fails to do so. If the Trading Price Condition has been met, the Company shall so notify Holders, the Trustee and the Conversion Agent. If, at any time after the Trading Price Condition has been met, the Trading Price per $1,000 principal
amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate for such date, the Company shall so notify Holders, the Trustee and the Conversion Agent. 

  
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 (iii) If the Company elects to: 

(A) issue to all or substantially all holders of Common Stock rights or warrants entitling them for a period of not more than
45 calendar days after the date of such issuance to subscribe for or purchase shares of Common Stock at less than the average of the Last Reported Sale Prices of a share of Common Stock for the 10 consecutive Trading Day period ending on the Trading
Day immediately preceding the date of announcement of such issuance; or 
 (B) distribute to all or substantially all holders
of Common Stock assets, debt securities or rights to purchase securities of the Company, which distribution has a per share value, as reasonably determined by the Board of Directors, exceeding 10% of the Last Reported Sale Price of the Common Stock
on the Trading Day preceding the date of announcement for such distribution, 
 then, in each case, the Company shall notify the Holders of the Notes at
least 45 Scheduled Trading Days prior to the Ex-Dividend Date for such issuance or distribution. Once the Company has given such notice, Holders may surrender Notes for conversion (in accordance with the procedures set forth in Section 4.02
hereof) at any time until the earlier of the close of business on the Business Day immediately prior to such Ex-Dividend Date or the Company’s announcement that such issuance or distribution will not take place, even if the Notes are not
otherwise convertible at such time. 
 (iv) If a transaction or event that constitutes a Fundamental Change or a Make-Whole
Fundamental Change occurs, regardless of whether a Holder has the right to require the Company to purchase the Notes pursuant to Article 3 hereof, or if the Company is a party to a consolidation, merger, binding share exchange, or sale,
transfer or lease of all or substantially all of the Company’s assets, in each case, pursuant to which the Common Stock would be converted into cash, securities or other assets, Holders may surrender Notes for conversion (in accordance with the
procedures set forth in Section 4.02 hereof) at any time from or after the date which is 45 Scheduled Trading Days prior to the anticipated effective date of such transaction until 35 Trading Days after the actual effective date of such
transaction (or, if such transaction also constitutes a Fundamental Change, until the related Fundamental Change Purchase Date). The Company shall notify Holders, the Conversion Agent and the Trustee as promptly as practicable following the date the
Company publicly announces such transaction, but in no event less than 45 Scheduled Trading Days prior to the anticipated effective date of such transaction. 

(v) If, at any time after April 20, 2017, the Company calls any or all of the Notes for redemption as described under
Article 15 hereof, Holders of the Notes will have the right to convert their Notes at any time until the close of business on the Business Day immediately preceding the Redemption Date, after which time Holders will no longer have the
right to convert their Notes on account of the 

  
 33 

 
Company’s delivery of notice of such redemption, unless the Company defaults in the payment of the Redemption Price. If a Holder elects to convert its Notes in connection with a Redemption
Notice issued by the Company, the Company shall: 
 (A) increase the conversion rate for the Notes as described under
Section 4.06 hereof; and 
 (B) pay to such Holder an amount equal to accrued and unpaid interest (including
additional amounts, if any) on the Notes that are surrendered for conversion to, but excluding, the conversion date; provided that if such conversion date occurs after a record date and on or prior to the corresponding Interest Payment Date,
the Company shall pay the interest due (including Additional Interest, if any) on that Interest Payment Date to the Holder of record on the relevant record date and no additional payment will be made pursuant to this clause. 

Failure by the Company to give any notice required by Section 4.01, or any defect therein, shall not affect the legality or
validity of the relevant transaction or event. 
 (b) Notes may not be converted after the close of business on the second Scheduled Trading
Day immediately preceding April 15, 2019. 
 SECTION 4.02. Conversion Procedures. (a) Each Note shall be convertible at the
office of the Conversion Agent and, if applicable, in accordance with the procedures of the Depositary. 
 (b) In order to exercise the
conversion privilege with respect to any interest in a Global Note, the Holder must comply with the Depositary’s procedures for converting an interest in a Global Note and, if required, pay the funds required by Section 4.03(e) and
pay any taxes or duties if required pursuant to Section 4.08, and the Conversion Agent must be informed of the conversion in accordance with the customary practice of the Depositary. In order to exercise the conversion privilege with
respect to any Physical Notes, the Holder of any such Notes to be converted, in whole or in part, shall: 
 (i) complete and
manually sign the conversion notice provided on the back of the Note (the “Conversion Notice”) or a facsimile of the Conversion Notice; 

(ii) deliver the Conversion Notice, which is irrevocable, and the Note to the Conversion Agent; 

(iii) if required, furnish appropriate endorsements and transfer documents, 

(iv) make any payment required under Section 4.03(e); and 

(v) if required, pay all transfer or similar taxes as set forth in Section 4.08. 

  
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 The date on which the Holder satisfies all of the applicable requirements set forth above is the
“Conversion Date.” The Conversion Agent will, as promptly as possible, and in any event within two Business Days of the receipt thereof, provide the Company and the Trustee with notice of any conversion by a Holder of the Notes.

 (c) Each Conversion Notice shall state the name or names (with address or addresses) in which any certificate or certificates for shares
of Common Stock which shall be issuable on such conversion shall be issued. All such Notes surrendered for conversion shall, unless the shares issuable on conversion are to be issued in the same name as the registration of such Notes, be duly
endorsed by, or be accompanied by instruments of transfer in form satisfactory to the Company duly executed by, the Holder or his duly authorized attorney. 

(d) In case any Notes of a denomination greater than $1,000 shall be surrendered for partial conversion, the Company shall execute and the
Authenticating Agent shall authenticate and deliver to the Holder of the Notes so surrendered, without charge, new Notes in authorized denominations in an aggregate principal amount equal to the unconverted portion of the surrendered Notes. 

(e) Each conversion shall be deemed to have been effected as to any Notes (or portion thereof) surrendered for conversion on the relevant
Conversion Date, and with respect to any shares of Common Stock that are issuable upon such conversion: (i) if such conversion was subject to a Physical Settlement, the Person in whose name the certificate or certificates for such shares of
Common Stock will be registered, shall become the holder of record of such shares as of the close of business on the Conversion Date; and (ii) if such conversion was subject to a Combination Settlement, the Person in whose name the certificate
or certificates for such shares of Common Stock will be registered, shall become the holder of record of such shares as of the close of business on the last Trading Day of the related Observation Period. 

(f) Upon the conversion of an interest in Global Notes, the Conversion Agent (or other Conversion Agent appointed by the Company) shall make a
notation on such Global Notes as to the reduction in the principal amount represented thereby. The Company shall notify the Trustee in writing of any conversions of Notes effected through any Conversion Agent other than the Trustee. 

(g) Notwithstanding the foregoing, a Note in respect of which a Holder has delivered a Fundamental Change Purchase Notice exercising such
Holder’s option to require the Company to purchase such Note may be converted only if such notice of exercise is withdrawn in accordance with Article 3 hereof prior to the close of business on the Business Day prior to the relevant
Fundamental Change Purchase Date. 
 SECTION 4.03. Settlement Upon Conversion. (a) Except as provided in
Section 4.06(b), upon any conversion of any Note, the Company shall deliver or cause to be delivered to converting Holders, in respect of each $1,000 principal amount of Notes being converted, at the Company’s election, in full
satisfaction of the Company’s Conversion Obligation, (1) shares of Common Stock, together with cash in lieu of 

  
 35 

 
fractional shares, if any (a “Physical Settlement”), (2) a cash payment without any delivery of shares of Common Stock (a “Cash Settlement”) or (3) a
combination of cash and shares of Common Stock, together with cash in lieu of fractional shares, if any (a “Combination Settlement”), in each case, as set forth below (the amounts so deliverable upon conversion of the Notes, the
“Conversion Obligation”): 
 For conversions: 

(i) that occur prior to October 15, 2018, by the close of business on the Business Day following the Conversion Date, the
Company shall notify converting Holders of the relevant Settlement Method and, if the Company elects a Combination Settlement, the dollar amount of the conversion obligation (the “Cash Amount”) that will be settled in cash; 

(ii) that occur on or after October 15, 2018, the Company shall notify all Holders of the relevant Settlement Method and,
if applicable, the related Cash Amount, by notice on or prior to October 15, 2018 (which shall apply to all conversions on or following October 15, 2018). 

If the Company does not specify a Settlement Method as set forth above, then Combination Settlement shall apply, and the related Cash Amount
used in the settlement calculation set forth in paragraph (d) below will be $1,000. Any such notice of a Settlement Method may not be revoked. 

(b) If the Company has elected a Physical Settlement with respect to any Notes tendered for conversion, the Company shall deliver or cause to
be delivered, for each $1,000 principal amount of Notes, a number of shares of Common Stock equal to the Conversion Rate, together with cash in lieu of fractional shares. Except for conversions upon a Make-Whole Fundamental Change as provided in
Section 4.06, the Company shall deliver or cause to be delivered such shares of Common Stock (1) on the third Business Day following the Conversion Date, in the case of a Physical Settlement with respect to a Conversion Date on or
prior to the Business Day immediately preceding October 15, 2018, or (2) on the third Business Day following the last day of the applicable Observation Period, in the case of a Physical Settlement with respect to a Conversion Date on or
after October 15, 2018. 
 (c) If the Company has elected a Cash Settlement with respect to any Notes tendered for conversion, the
Company shall deliver or cause to be delivered, for each $1,000 principal amount of Notes, a cash payment equal to the sum of the Daily Conversion Values for each of the twenty (20) consecutive Trading Days during the relevant Observation
Period. Except for conversions upon a Make-Whole Fundamental Change as provided in Section 4.06, the Company shall make such payment on the third Business Day following the last day of the applicable Observation Period. 

(d) If the Company has elected or is deemed to have elected a Combination Settlement with respect to any Notes tendered for conversion, the
Company shall deliver or cause to be delivered, for each $1,000 principal amount of Notes, the sum of the Daily Settlement Amounts for each of the twenty (20) consecutive Trading Days during the relevant Observation Period. 

  
 36 

 The “Daily Settlement Amount” for each of the twenty (20) consecutive
Trading Days during the Observation Period shall consist of: 
 (i) cash in an amount equal to the lesser of (i) 5% of
the cash amount specified by the Company in the notice regarding the chosen Settlement Method (the “Daily Cash Amount”) and (ii) the Daily Conversion Value on such Trading Day; and 

(ii) if the Daily Conversion Value on such Trading Day exceeds the Daily Cash Amount, a number of shares of Common Stock
(together with cash in lieu of any fractional shares) equal to (i) the difference between such Daily Conversion Value and the Daily Cash Amount, divided by (ii) the Daily VWAP on such Trading Day. 

Except for conversions upon a Make-Whole Fundamental Change as provided in Section 4.06, the Company shall deliver such cash and
shares of Common Stock on the third Business Day following the last day of the applicable Observation Period. 
 (e) Upon conversion of any
Notes, Holders shall not receive any separate cash payment for accrued and unpaid interest, except to the extent specified below. The Company’s delivery to the Holder of Common Stock, cash or a combination of cash and Common Stock, as
applicable, together with any cash payment for any fractional share of Common Stock, into which a Note is convertible shall be deemed to satisfy in full the Company’s obligation to pay (i) the principal amount of the Notes so converted and
(ii) accrued and unpaid interest to, but not including, the Conversion Date. As a result, accrued and unpaid interest to, but not including, the Conversion Date shall be deemed to be paid in full rather than cancelled, extinguished or
forfeited. Notes surrendered for conversion during the period from the close of business on any Regular Record Date to the open of business on the immediately following Interest Payment Date must be accompanied by funds equal to the amount of
interest payable on the Notes so converted; provided that no such payment need be made (i) for conversions following the Regular Record Date immediately preceding October 15, 2018, (ii) if the Company has specified a
Fundamental Change Purchase Date that is after a Regular Record Date and on or prior to the corresponding Interest Payment Date, (iii) if the Company has specified a date for redemption of Notes that is after a Regular Record Date and on or
prior to the corresponding Interest Payment Date, or (iv) to the extent of any overdue interest, if any overdue interest exists at the time of conversion with respect to such Note. 

(f) The Company shall not issue fractional shares of Common Stock upon conversion of Notes. If multiple Notes shall be surrendered for
conversion at one time by the same Holder, the number of full shares of Common Stock which shall be issuable upon conversion shall be computed on the basis of the aggregate principal amount of the Notes (or specified portions thereof to the extent
permitted hereby) so surrendered. If 

  
 37 

 
any fractional share of Common Stock would be issuable upon the conversion of any Notes, the Company shall make payment therefor in cash in lieu of fractional shares of Common Stock based on:

 (i) if Physical Settlement applies, on the Last Reported Sale Price of the Common Stock on the relevant Conversion Date,
and 
 (ii) if Combination Settlement applies, the Daily VWAP of the Common Stock on the final Trading Day of the applicable
Observation Period. 
 (g) Solely for purposes of determining the payments and deliveries due upon conversion under this
Section 4.03, and notwithstanding the definition of “Trading Day” contained in Section 1.02, “Trading Day” means a day on which (i) there is no Market Disruption Event and
(ii) trading in the Common Stock generally occurs on the New York Stock Exchange or, if the Common Stock is not then listed on the New York Stock Exchange, on the principal other United States national or regional securities exchange on which
the Common Stock is then listed or, if the Common Stock is not then listed on a United States national or regional securities exchange, on the principal other market on which the Common Stock is then traded. If the Common Stock (or other security
for which a Daily VWAP must be determined) is not so listed or traded, “Trading Day” means a Business Day. 
 (h) Upon
surrender of Notes for conversion in connection with a Make-Whole Fundamental Change or Redemption Notice, the Company shall deliver or cause to be delivered shares of Common Stock, cash or a combination of cash and shares of Common Stock, as set
forth above, at the increased Conversion Rate as described in Section 4.06. 
 SECTION 4.04. Adjustment of Conversion Rate.
The Conversion Rate shall be adjusted from time to time by the Company if any of the following events occurs, except that the Company will not make any adjustment to the Conversion Rate if Holders of Notes participate, as a result of holding the
Notes, in any of the transactions described under Section 4.04(a) (but only with respect to stock dividends or distributions), Section 4.04(b), Section 4.04(c), and Section 4.04(d), at the same time as
holders of the Common Stock participate, without having to convert their Notes, as if such Holders held a number of shares of Common Stock equal to the Conversion Rate in effect for each $1,000 principal amount of such Notes immediately prior to the
Ex-Dividend Date for such event. 
 (a) If the Company, at any time or from time to time while any of the Notes are outstanding, exclusively
issues shares of its Common Stock as a dividend or distribution on shares of Common Stock, or if the Company effects a share split or share combination, then the Conversion Rate shall be adjusted based on the following formula: 

 
 

 

  
 38 

 where 
  

					
	CR0	 	=	 	The Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date of such dividend or distribution, or immediately prior to the open of business on the effective date of such share split or share
combination, as applicable;
	CR1	 	=	 	The Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date or such effective date;
	OS0	 	=	 	The number of shares of Common Stock outstanding immediately prior to the open of business on such Ex-Dividend Date or such effective date; and
	OS1	 	=	 	The number of shares of Common Stock outstanding immediately after giving effect to such dividend, distribution, share split or share combination.

 Such adjustment shall become effective immediately after the open of business on the Ex-Dividend Date for such dividend
or distribution or the effective date for such share split or share combination. If any dividend or distribution of the type described in this Section 4.04(a) is declared but not so paid or made, the Conversion Rate shall again be
adjusted to the Conversion Rate which would then be in effect if such dividend or distribution had not been declared. 
 (b) If the
Company, at any time or from time to time while any of the Notes are outstanding, issues to all or substantially all holders of the Common Stock any rights or warrants entitling them for a period of not more than 45 calendar days after date of such
issuance to subscribe for or purchase shares of the Common Stock at a price per share less than the average of the Last Reported Sale Prices of the Common Stock for the 10 consecutive Trading Day period ending on the Trading Day immediately
preceding the Ex-Dividend Date for such issuance, the Conversion Rate shall be adjusted based on the following formula: 
  

 
 where 
  

					
	CR0	 	=	 	The Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such issuance;
	CR1	 	=	 	The Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date;
	OS0	 	=	 	The number of shares of Common Stock outstanding immediately prior to the open of business on such Ex-Dividend Date;
	X	 	=	 	The total number of shares of Common Stock 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 of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day
period ending on the Trading Day immediately preceding the date of announcement of the issuance of such rights or warrants.

  
 39 

 Such adjustment shall become effective immediately after the open of business on the Ex-Dividend Date for such
issuance. To the extent such rights or warrants are not exercised prior to their expiration or termination, the Conversion Rate shall be readjusted to the Conversion Rate which would 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 date fixed for the determination of shareholders entitled to receive such rights or warrants had not been fixed. For the purposes of this Section 4.04(b), in determining whether any rights or
warrants entitle the holders to subscribe for or purchase shares of Common Stock at less than the average of the Last Reported Sale Prices of Common Stock for the 10 consecutive Trading Day period ending on the Trading Day immediately preceding the
date of announcement of such issuance, and in determining the aggregate exercise price payable for 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 the exercise thereof, with the value of such consideration, if other than cash, as shall be determined by the Board of Directors. 

(c) If the Company, at any time or from time to time while the Notes are outstanding, distributes shares of any class of capital stock of the
Company, evidences of its indebtedness, other assets or property of the Company or rights or warrants to acquire the Company’s capital stock or other securities to all or substantially all holders of its Common Stock, excluding: 

(i) dividends or distributions and rights or warrants as to which an adjustment was effected pursuant to
Section 4.04(a) or Section 4.04(b); 
 (ii) dividends or distributions paid exclusively in cash (as set
forth below in Section 4.04(d)); and 
 (iii) Spin-Offs to which the provisions set forth below in this
Section 4.04(c) shall apply; then the Conversion Rate shall be adjusted based on the following formula: 
  

 
  

					
	CR0	 	=	 	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such distribution;
	CR1	 	=	 	the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date;
	SP0	 	=	 	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and
	FMV	 	=	 	the fair market value (as determined by the Board of Directors) of the shares of capital stock, evidences of indebtedness, assets, property, rights or warrants distributed with respect to each outstanding share of the Common Stock
on the Ex-Dividend Date for such distribution

  
 40 

 Such adjustment shall become effective immediately after the open of business on the Ex-Dividend Date for such
distribution. If the Board of Directors determines the “FMV” (as defined above) of any distribution for purposes of this Section 4.04(c) by reference to the actual or when issued trading market for any securities, it
must in doing so consider the prices in such market over the same period used in computing the average of the Last Reported Sale Prices of the Common Stock. Notwithstanding the foregoing, if “FMV” (as defined above) is equal to or
greater than “SP0” (as defined above), in lieu of the foregoing adjustment, each Holder of Notes shall receive, at the same time and upon the same terms as holders of the
Common Stock, the amount and kind of securities, assets and property such Holder would have received as if such Holder owned a number of shares of Common Stock equal to, for each $1,000 principal amount of Notes, the Conversion Rate in effect on the
record date for the distribution of the securities, assets or property. 
 With respect to an adjustment pursuant to this Section 4.04(c) where
there has been a payment of a dividend or other distribution on the Common Stock of shares of capital stock of any class or series, or similar equity interest, of or relating to a Subsidiary or other business unit and such dividend or distribution
is listed for trading on a securities exchange (a “Spin-Off”), the Conversion Rate shall be increased based on the following formula: 
  

 
 where 
  

					
	CR0	 	=	 	the Conversion Rate in effect immediately prior to the end of the Valuation Period (as defined below);
	CR1	 	=	 	the Conversion Rate in effect immediately after the end of the Valuation Period;
	FMV0	 	=	 	the average of the Last Reported Sale Prices of the capital stock or similar equity interest distributed to holders of Common Stock applicable to one share of Common Stock (determined for purposes of the definition of Last Reported
Sale Price as if such capital stock or similar equity interest were the Common Stock) over the first 10 consecutive Trading Day period after, and including, the Ex-Dividend Date of the Spin-Off (the “Valuation Period”);
and
	MP0	 	=	 	the average of the Last Reported Sale Prices of Common Stock over the Valuation Period.

  
 41 

 The adjustment to the Conversion Rate under the preceding paragraph will occur on the last day of the Valuation
Period; provided that in respect of any conversion during the Valuation Period, references above to 10 Trading Days shall be deemed replaced with such lesser number of Trading Days as have elapsed between the Ex-Dividend Date of such Spin-Off
and the Conversion Date in determining the applicable Conversion Rate. 
 For the purposes of this Section 4.04(c) (and subject
in all respects to Section 4.12), rights or warrants distributed by the Company to all holders of its Common Stock entitling them to subscribe for or purchase shares of the Company’s capital stock (either initially or under certain
circumstances), which rights or warrants, until the occurrence of a specified event or events (a “Trigger Event”): (1) are deemed to be transferred with such shares of Common Stock; (2) are not exercisable; and
(3) are also issued in respect of future issuances of Common Stock, shall be deemed not to have been distributed for purposes of this Section 4.04(c), (and no adjustment to the Conversion Rate under this Section 4.04(c)
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
Section 4.04(c). 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 Ex-Dividend Date of such deemed distribution (in which case
the original rights or warrants shall be deemed to terminate and expire on such date without exercise by any of the holders). 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 4.04(c) was made,
(1) in the case of any such rights or warrants which shall all have been redeemed or purchased without exercise by any Holders thereof, upon such final redemption or repurchase (x) the Conversion Rate shall be readjusted as if such rights
or warrants had not been issued and (y) the Conversion Rate shall then again be readjusted to give effect to such distribution, deemed distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per
share redemption or purchase price received by holders of Common Stock with respect to such rights or warrants (assuming each such holder had retained such rights or warrants), made to all holders of Common Stock as of the date of such redemption or
purchase, 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. 

For the purposes of this Section 4.04(c) and subsections (a) and (b) of this Section 4.04, any dividend or
distribution to which this Section 4.04(c) applies which also includes one or both of: 
 (A) a dividend or
distribution of shares of Common Stock to which Section 4.04(a) applies (the “Clause A Distribution”); and 

(B) a dividend or distribution of rights or warrants to which Section 4.04(b) applies (the “Clause B
Distribution”), 

  
 42 

 then (1) such dividend or distribution, other than the Clause A Distribution and the Clause B Distribution,
shall be deemed to be a dividend or distribution to which this Section 4.04(c) applies (the “Clause C Distribution”) and any Conversion Rate adjustment required by this Section 4.04(c) with respect thereto
shall then be made, and (2) the Clause A Distribution and Clause B Distribution shall be deemed to immediately follow the Clause C Distribution and any Conversion Rate adjustment required by Section 4.04(a) and
Section 4.04(b) with respect thereto shall then be made, except that, if determined by the Company, (I) the “Ex-Dividend Date” of the Clause A Distribution and the Clause B Distribution shall be deemed to be the
Ex-Dividend Date of the Clause C Distribution and (II) any shares of Common Stock included in the Clause A Distribution or Clause B Distribution shall be deemed not to be “outstanding immediately prior to the open of business on such
Ex-Dividend Date or such effective date” within the meaning of Section 4.04(a) or “outstanding immediately prior to the open of business on such Ex-Dividend Date” within the meaning of Section 4.04(b). 

(d) If the Company makes any cash dividend or distribution to all or substantially all holders of Common Stock, the Conversion Rate shall be
adjusted based on the following formula: 
  
 

 
 where 
  

					
	CR0	 	=	 	The Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such dividend or distribution;
	CR1	 	=	 	The Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for such dividend or distribution;
	SP0	 	=	 	The Last Reported Sale Price of the Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution; and
	C	 	=	 	The amount in cash per share the Company distributes to holders of the Common Stock.

 In the case of an adjustment pursuant to this Section 4.04(d), such adjustment shall become effective immediately
after the open of business on the Ex-Dividend Date for the relevant dividend or distribution. If the portion of the cash so distributed applicable to one share of the Common Stock is equal to or greater than the Last Reported Sale Price of a share
of Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution, in lieu of the adjustment set forth above, adequate provision shall be made so that each Holder of Notes shall have the right to receive
on the date on which such cash dividend or distribution is distributed to holders of Common Stock, for each $1,000 principal amount of Notes, 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 in effect immediately prior to the Ex-Dividend Date for such distribution. 

  
 43 

 (e) If the Company or any of its Subsidiaries makes a payment in respect of a tender offer or
exchange offer for Common Stock, to the extent that the cash and value of any other consideration included in the payment per share of Common Stock exceeds the Last Reported Sale Price per share of Common Stock on the Trading Day next succeeding the
last date on which tenders or exchanges may be made pursuant to such tender or exchange offer, the Conversion Rate shall be increased based on the following formula: 
  

 
 where 
  

			
	CR0 =	  	the Conversion Rate in effect immediately prior to the close of business on the 10th Trading Day immediately following, and including, the Trading Day next succeeding the date such tender or exchange offer expires;
	CR1 =	  	the Conversion Rate in effect immediately after the close of business on the 10th Trading Day immediately following, and including, the Trading Day next succeeding the date such tender or exchange offer expires;
	AC =	  	the aggregate value of all cash and any other consideration (as determined by the Board of Directors) paid or payable for shares purchased in such tender or exchange offer;
	OS0 =	  	the number of shares of Common Stock outstanding immediately prior to the date such tender or exchange offer expires;
	OS1 =	  	the number of shares of Common Stock outstanding immediately after the date such tender or exchange offer expires (after giving effect to the purchase of all shares accepted for purchase or exchange in such tender or exchange
offer); and
	SP1 =	  	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period commencing on the Trading Day next succeeding the date such tender or exchange offer expires.

 The adjustment to the Conversion Rate under this Section 4.04(e) shall occur as of the close of business on the
tenth Trading Day immediately following, and including, the Trading Day next succeeding the date such tender or exchange offer expires; provided that in respect of any conversion within 10 Trading Days immediately following, and including,
the expiration date of any tender or exchange offer, references with respect to 10 Trading Days shall be deemed replaced with such lesser number of Trading Days as have elapsed between the expiration date of such tender or exchange offer and
the Conversion Date in determining the applicable Conversion Rate. 
 (f) The Company from time to time may increase the Conversion Rate by
any amount for any period of time of at least 20 Business Days, so long as the increase is 

  
 44 

 
irrevocable during the period and the Board of Directors shall have made a determination that such increase would be in the best interests of the Company, which determination shall be conclusive.
Whenever the Conversion Rate is increased pursuant to this Section 4.04 (f), the Company shall mail to Holders of record of the Notes a notice of the increase at least one day 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. 
 (g) The Company may (but
shall not be required to) increase the Conversion Rate, in addition to any adjustments pursuant to Section 4.04 (a), 4.04(b), 4.04(c), 4.04(d), 4.04(e) or 4.04(f), if the Board of Directors considers
such increase to be advisable to avoid or diminish any income tax to holders of Common Stock or rights to purchase Common Stock in connection with a dividend or distribution of shares (or rights to acquire shares) or similar event. 

(h) All calculations under this Article 4 shall be made by the Company and shall be made to the nearest cent (including, in the case of
any adjustment to the Conversion Rate, the resulting adjustment to the Conversion Price) or to the nearest one ten-thousandth of a share. No adjustment shall be required to be made for the Company’s issuance of Common Stock or any securities
convertible into or exchangeable for shares of Common Stock or rights to purchase shares of Common Stock or such convertible or exchangeable securities, other than as provided in this Section 4.04 and in Section 4.11 hereof.

 (i) Whenever the Conversion Rate is adjusted as herein provided, the Company shall promptly file with the Trustee and any Conversion
Agent an Officers’ Certificate setting forth the Conversion Rate after such adjustment and setting forth a brief statement of the facts requiring such adjustment. Unless and until a Responsible Officer of the Trustee and the Conversion Agent
shall have received such Officers’ Certificate, neither the Trustee nor the Conversion Agent shall be deemed to have knowledge of any adjustment of the Conversion Rate and may assume without inquiry that the last Conversion Rate of which it has
knowledge is still in effect. Promptly after delivery of such certificate, the Company shall prepare a notice of such adjustment of the Conversion Rate setting forth the adjusted Conversion Rate and the date on which each adjustment becomes
effective and shall mail such notice of such adjustment of the Conversion Rate to each Holder of the Notes. Failure to deliver such notice shall not affect the legality or validity of any such adjustment. 

(j) For purposes of this Section 4.04, the number of shares of Common Stock at any time outstanding shall not include shares held
in the treasury of the Company so long as the Company does not pay any dividend or make any distribution on shares of Common Stock held in the treasury of the Company, but shall include shares issuable in respect of scrip certificates issued in lieu
of fractions of shares of Common Stock. 
 (k) Notwithstanding the foregoing, if the application of the foregoing formulas set forth in this
Section 4.04 would result in a decrease in the Conversion Rate, no adjustment to the Conversion Rate shall be made (other than as a result of a reverse share split or share combination). 

  
 45 

 (l) Notwithstanding anything to the contrary in this Article 4, no adjustment to the
Conversion Rate shall be made: 
 (i) upon the issuance of any shares of Common Stock pursuant to any present or future plan
providing for the reinvestment of dividends or interest payable on the Company’s securities and the investment of additional optional amounts in shares of Common Stock under any plan; 

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

(iii) upon the issuance of any shares of Common Stock pursuant to any option, warrant, right or exercisable, exchangeable or
convertible security not described in clause (ii) above and outstanding as of the date the Notes were first issued; 

(iv) for a change in the par value of the Common Stock; or 

(v) for accrued and unpaid interest on the Notes. 

(m) If a Conversion Rate adjustment becomes effective on any Ex-Dividend Date as described above, and a Holder that has converted its Notes on
or after such Ex-Dividend Date and on or prior to the related record date would be treated as the record holder of shares of Common Stock as of the related Conversion Date as set forth in Section 4.02(e) based on an adjusted Conversion
Rate for such Ex-Dividend Date, then, notwithstanding the Conversion Rate adjustment provisions above, the Conversion Rate adjustment relating to such Ex-Dividend Date shall not be made for such converting Holder. Instead, such Holder shall be
deemed to be the record owner of shares of Common Stock on an unadjusted basis on such Conversion Date and participate in the related dividend, distribution or other event giving rise to such adjustment. 

(n) In the event of an increase in the Conversion Rate that would result in the Notes, in the aggregate, becoming convertible into Common
Stock in excess of limitations imposed by the applicable certain listing standards of The New York Stock Exchange, the Company shall, at its option, either obtain stockholder approval of such issuances or pay cash in lieu of delivering any shares of
Common Stock otherwise deliverable on the Conversion Date in excess of such limitations based on the Daily VWAP on each Trading Day of the relevant Observation Period in respect of which, in lieu of delivering shares of Common Stock, the Company
delivers cash pursuant to this Section 4.04(n). 
 SECTION 4.05. Certain Other Adjustments. Whenever a provision of this
Indenture requires the calculation of Last Reported Sale Prices or Daily VWAP over 

  
 46 

 
a span of multiple days, the Board of Directors will make appropriate adjustments to such Last Reported Sale Prices or Daily VWAP, the Conversion Rate, or the amount due upon conversion to
account for any adjustment to the Conversion Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate where the Ex-Dividend Date of the event occurs, at any time during the period from which such Last Reported Sale
Prices or Daily VWAP are to be calculated. 
 SECTION 4.06. Adjustments Upon Certain Fundamental Changes or Redemption Notices.
(a) If (i) a Make-Whole Fundamental Change occurs and a Holder elects to convert its Notes in connection with such Make-Whole Fundamental Change or (ii) on or after April 20, 2017, the Company gives notice to Holders of the
Company’s intention to redeem any or all of the Notes as provided under Article 15 hereof, the Company shall, under the circumstances described below, increase the Conversion Rate for the Notes so surrendered for conversion by a number
of additional shares of Common Stock (the “Additional Shares”) as described below. A conversion of Notes shall be deemed for these purposes to be “in connection with” such Make-Whole Fundamental Change or Redemption
Notice, as the case may be, if the notice of conversion or redemption of the Notes is received by the Conversion Agent from, and including, the Effective Date of the Make-Whole Fundamental Change or redemption up to, and including, the Business Day
immediately prior to the related redemption or Fundamental Change Purchase Date (or, in the case of an event that would have been a Fundamental Change but for the proviso in clause (2) of the definition thereof, the 35th Trading Day immediately
following the Effective Date of such Make-Whole Fundamental Change). A conversion of Notes will be deemed for these purposes to be “in connection with” a Redemption Notice if the notice of conversion of the Notes is received by the
Conversion Agent from, and including, the date of the Redemption Notice until the close of business on the Business Day preceding the Redemption Date. 

(b) Upon surrender of Notes for conversion in connection with a Make-Whole Fundamental Change, the Company shall have the right to deliver, in
lieu of shares of Common Stock, including the Additional Shares, cash or a combination of cash and shares of Common Stock as provided under Section 4.03(a); provided, however, that if the consideration for the Common Stock
in any Make-Whole Fundamental Change described in clause (2) of the definition of Fundamental Change is comprised entirely of cash, then, for any conversion of Notes following the Effective Date of such Make-Whole Fundamental Change, the
amounts deliverable by the Company shall be calculated based solely on the Stock Price for the Make-Whole Fundamental Change and shall be deemed to be an amount equal to the applicable Conversion Rate (including any adjustment for Additional Shares
described in this Section) multiplied by such Stock Price. In such event, the amounts deliverable by the Company shall be determined and paid to holders in cash on the third Business Day following the Conversion Date. 

(c) The number of Additional Shares, if any, by which the Conversion Rate will be increased will be determined by reference to the table
attached as Schedule A hereto, based on the date on which the Make-Whole Fundamental Change or the date of the Redemption Notice, as the case may be, occurs or becomes effective (each, an “Effective Date”), and the price
(the “Stock Price”) paid (or deemed paid) per 

  
 47 

 
share of the Common Stock in the Make-Whole Fundamental Change or the redemption, as the case may be. If the holders of the Common Stock receive only cash in a Make-Whole Fundamental Change
described in clause (2) of the definition of Fundamental Change, the Stock Price shall be the cash amount paid per share. Otherwise, the Stock Price shall be the average of the Last Reported Sale Prices of the Common Stock over the five
Trading-Day period ending on, and including, the Trading Day preceding the Effective Date. 
 The exact Stock Prices and Effective Dates may
not be set forth in the table in Schedule A, in which case: 
 (i) If the Stock Price is between two Stock Prices in the
table or the Effective Date is between two Effective Dates in the table, the number of Additional Shares shall be determined by a straight-line interpolation between the number of Additional Shares set forth for the higher and lower Stock Prices and
the earlier and later Effective Dates, as applicable, based on a 365-day year. 
 (ii) If the Stock Price is greater than
$250.00 per share (subject to adjustment in the same manner as the Stock Prices set forth in the column headings of the table in Schedule A pursuant to subsection (d) below), no Additional Shares shall be added to the Conversion Rate. 

(iii) If the Stock Price is less than $34.33 per share (subject to adjustments in the same manner as the Stock Prices set forth
in the column headings of the table in Schedule A pursuant to subsection (d) below), no Additional Shares shall be added to the Conversion Rate. 

Notwithstanding the foregoing, in no event shall the Conversion Rate exceed 29.1290 shares of Common Stock per $1,000 principal amount of
Notes, subject to adjustments in the same manner as the Conversion Rate as set forth in Section 4.04. 
 (d) The Stock Prices
set forth in the column headings of the table in Schedule A hereto shall be adjusted as of any date on which the Conversion Rate of the Notes is otherwise adjusted. 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 such 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 set forth in such table shall be adjusted in the same manner as the Conversion Rate as set forth in Section 4.04. 

(e) The Company shall notify the Holders of Notes of the Effective Date of any Make-Whole Fundamental Change and issue a press release
announcing such Effective Date no later than five Business Days after such Effective Date. 

  
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 SECTION 4.07. Effect of Recapitalization, Reclassification, Consolidation, Merger or Sale.
(a) If any of the following events occur: 
 (i) any recapitalization or reclassification of, or change in, the Common
Stock (other than changes resulting from a subdivision or combination); 
 (ii) a consolidation, merger or combination
involving the Company; or 
 (iii) a sale, lease or other transfer to a third party of the consolidated assets of the Company
and its Subsidiaries substantially as an entirety, or 
 (iv) any statutory share exchange; 

in each case as a result of which the Common Stock would be converted into, or exchanged for, or would be reclassified or changed into, stock, other
securities, other property or assets (including cash or any combination thereof) (any such event, a “Merger Event”), then at the effective time of such Merger Event, the Company or the successor or purchasing Person, as the case may
be, shall execute with the Trustee a supplemental indenture providing that at and after the effective time of such Merger Event, the right to convert a Note will be changed into a right to convert such Note as set forth in this Indenture into the
kind and amount of shares of stock, other securities or other property or assets (including cash or any combination thereof) that a holder of a number of shares of Common Stock equal to the Conversation Rate prior to such Merger Event would have
owned or been entitled to receive (the “Reference Property”, with each “unit of Reference Property” meaning the type and amount of Reference Property that a holder of one share of Common Stock is entitled to
receive) upon such Merger Event; provided, however, that at and after the effective time of the Merger Event the conversion obligation shall be calculated and settled in accordance with Section 4.03 such that (i) the
amount payable in cash upon conversion of the Notes as set forth under Section 4.03 will continue to be payable in cash, (ii) the number of shares of Common Stock (if the Company elects Physical Settlement or Combination Settlement)
deliverable upon conversion of the Notes under Section 4.03 will be instead deliverable in the amount and type of Reference Property that a holder of that number of shares of Common Stock would have been entitled to receive in such
Merger Event and (iii) the Daily VWAP will be calculated based on the value of a unit of Reference Property. 
 If, as a result of the
Merger Event, each share of Common Stock is converted into, or exchanged for, the right to receive more than a single type of consideration (determined based in part upon any form of stockholder election), then (x) the Reference Property into
which the Notes will be convertible will be deemed to be the weighted average of the types and amounts of consideration received by the holders of Common Stock that affirmatively make such an election, and (y) the unit of Reference Property for
purposes of the foregoing sentence shall refer to the consideration referred to in clause (x) attributable to one share of Common Stock. 

The Company shall not become a party to any such Merger Event unless its terms are consistent with this Section 4.07(a). Such
supplemental indenture shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article 4 in the judgment of the Board of Directors or the board of directors of the
successor Person. If, in the case of any such recapitalization, 

  
 49 

 
reclassification, change, consolidation, merger, combination, sale, lease, other transfer or statutory share exchange, the Reference Property receivable thereupon by a holder of Common Stock
includes shares of stock, securities or other property or assets (including cash or any combination thereof) of a Person other than the successor or purchasing Person, as the case may be, in such reorganization, reclassification, change,
consolidation, merger, combination, sale, lease, other transfer or statutory share exchange, then such supplemental indenture shall also be executed by such other Person. 

(b) The Company shall cause notice of the execution of such supplemental indenture to be mailed to each Holder, at the address of such Holder
as it appears on the register of the Notes maintained by the Note Registrar, within 20 calendar days after execution thereof. Failure to deliver such notice shall not affect the legality or validity of such supplemental indenture. The above
provisions of this Section 4.07 shall similarly apply to successive reclassifications, changes, consolidations, mergers, combinations, sales and conveyances. If this Section 4.07 applies to any Merger Event,
Section 4.04 shall not apply. 
 SECTION 4.08. Taxes on Shares Issued. The Company will pay any documentary, stamp or
similar issue or transfer tax due on the issue or delivery of shares of Common Stock on conversion of Notes pursuant hereto; provided, however, that if such documentary, stamp or similar issue or transfer tax is due because the Holder
of such Notes has requested that shares of Common Stock be issued in a name other than that of the Holder of the Notes converted, then such taxes will be paid by the Holder, and the Company shall not be required to issue or deliver any stock
certificate evidencing such shares unless and until the Holder 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 4.09. Reservation of Shares; Shares to be Fully Paid; Compliance With Governmental Requirements; Listing of Common Stock. The
Company shall reserve, out of its authorized but unissued shares or shares held in treasury, sufficient shares of Common Stock to satisfy conversion of the Notes from time to time as such Notes are presented for conversion (assuming that, at the
time of the computation of such number of shares or securities, all such Notes would be converted by a single Holder and that Physical Settlement would apply). 

The Company covenants that all shares of Common Stock that may be issued upon conversion of Notes shall be newly issued shares or treasury
shares, shall be duly authorized, validly issued, fully paid and non-assessable and shall be free from preemptive rights and free from any tax, lien or charge (other than those created by the Holder). 

The Company shall list or cause to have quoted any shares of Common Stock to be issued upon conversion of Notes on each national securities
exchange or over-the-counter or other domestic market on which the Common Stock is then listed or quoted. 

  
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 SECTION 4.10. Responsibility of Trustee and Conversion Agent. Notwithstanding any
provision of this Indenture to the contrary, the Trustee and any Conversion Agent shall not at any time be under any duty or responsibility to any Holder of Notes to determine or calculate the Conversion Rate, to determine whether any facts exist
which may require any adjustment of the Conversion Rate, or to confirm the accuracy of any such adjustment when made or the appropriateness of the method employed, or herein or in any supplemental indenture provided to be employed, in making the
same. The Trustee and the 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 other securities or property that may at any time be issued or delivered upon
the conversion of any Notes; and the Trustee and the Conversion Agent make no representations with respect thereto. Neither the Trustee nor the 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 Notes for the purpose of conversion or to comply with any of the duties, responsibilities or covenants of the Company contained in this
Indenture. The rights, privileges, protections, immunities and benefits given to the Trustee and the Conversion Agent, including without limitation its right to be compensated, reimbursed, and indemnified, are extended to, and shall be enforceable
by, the Trustee and the Conversion Agent in any other capacity either may hold hereunder, including, if either, is so appointed by the Company and accepts such appointment, as Bid Solicitation Agent. 

SECTION 4.11. Notice to Holders Prior to Certain Actions. In case: 

(a) the Company shall declare a dividend (or any other distribution) on its Common Stock that would require an adjustment in
the Conversion Rate pursuant to Section 4.04; or 
 (b) the Company shall authorize the granting to the holders
of all or substantially all of its Common Stock of rights or warrants to subscribe for or purchase any share of any class or any other rights or warrants that would require an adjustment in the Conversion Rate pursuant to Section 4.04 or
Section 4.12 hereof; or 
 (c) of any reclassification or reorganization of the Common Stock of the Company
(other than a change in par value, or from par value to no par value, or from no par value to par value), or of any consolidation or merger to which the Company is a party and for which approval of any stockholders of the Company is required, or of
the sale, lease or transfer of all or substantially all of the assets of the Company and its consolidated Subsidiaries; or 

(d) of the voluntary or involuntary dissolution, liquidation or winding up of the Company or any of its Subsidiaries; 

then, in each case (unless notice of such event is otherwise required pursuant to another provision of this Indenture), the Company shall cause to be filed
with the Trustee and the Conversion Agent and to be mailed to each Holder of Notes at such Holder’s address 

  
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appearing on a list of Holders of Notes, which the Company shall provide to the Trustee and the Conversion Agent, as promptly as practicable but in any event at least 10 calendar days prior to
the applicable date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend (or any other distribution) or rights or warrants, or, if a record is not to be taken, the date as of
which the holders of Common Stock of record to be entitled to such dividend, distribution or rights or warrants are to be determined, or (y) the date on which such reclassification, reorganization, consolidation, merger, sale, lease, transfer,
dissolution, liquidation or winding up is expected to become effective or occur, and the date as of which it is expected that holders of Common Stock of record shall be entitled to exchange their Common Stock for securities or other property
deliverable upon such reclassification, reorganization, consolidation, merger, sale, transfer, dissolution, liquidation or winding up. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such dividend (or
any other distribution), reclassification, reorganization, consolidation, merger, sale, transfer, dissolution, liquidation or winding up. 

SECTION 4.12. Stockholder Rights Plan. Each share of Common Stock issued upon conversion of Notes pursuant to this Article 4
shall be entitled to receive the appropriate number of rights, if any, and the certificates representing the Common Stock issued upon such conversion shall bear such legends, if any, in each case as may be provided by the terms of any stockholder
rights plan adopted by the Company, as the same may be amended from time to time. Notwithstanding the foregoing, if prior to any conversion such rights have separated from the shares of Common Stock in accordance with the provisions of the
applicable stockholder rights agreement, the Conversion Rate shall be adjusted at the time of separation as if the Company had distributed to all holders of the Common Stock, shares of the Company’s capital stock, evidences of indebtedness,
assets, property, rights or warrants as described in Section 4.04(c) above, subject to readjustment in the event of the expiration, termination or redemption of such rights. 

ARTICLE 5 
 DEFAULTS AND
REMEDIES 
 SECTION 5.01. Events of Default. Each of the following shall be an “Event of Default”: 

(a) the Company defaults in the payment of interest, including any Additional Interest, on any Note when the same becomes due
and payable and such default continues for a period of 30 days, whether or not such payment is prohibited pursuant to Article 8; 

(b) the Company defaults in the payment of the principal of any Note when the same becomes due and payable at its Maturity,
upon acceleration, upon any required repurchase, upon optional redemption, or otherwise, whether or not such payment is prohibited pursuant to Article 8; 

  
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 (c) failure by the Company to comply with its obligation to convert the Notes in
accordance with the Indenture upon exercise of a Holder’s conversion right in accordance with Article 4 hereof, whether or not prohibited pursuant to Article 8; 

(d) failure by the Company to provide a Fundamental Change Company Notice pursuant to Section 3.01(b) or notice of
a specified corporate transaction required by Section 4.01(a)(iii) or Section 4.01(a)(iv) in accordance with the relevant Section, in each case when due; 

(e) failure by the Company to comply with its obligations under Section 6.01 hereof; 

(f) the Company fails to perform or observe with any of the covenants or agreements contained in the Notes or Indenture (other
than a default set forth in clauses (a), (b), (c), (d) or (e) above) for 30 days after written notice to the Company from the Trustee or to the Trustee from the Holders of at least 25% in principal amount of the Notes then outstanding;

 (g) the entry by a court of competent jurisdiction of one or more judgments, orders or decrees against the Company or any
subsidiary of the Company (other than a Securitization Subsidiary) or any of their respective property or assets in an aggregate amount in excess of $50.0 million, which judgments, orders or decrees have not been vacated, discharged, satisfied or
stayed pending appeal within 30 days from the entry thereof and with respect to which legal enforcement proceedings have been commenced; 

(h) default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or
evidenced any indebtedness for money borrowed by the Company or any subsidiary of the Company (other than a Securitization Subsidiary) (or the payment of which is guaranteed by the Company or any subsidiary of the Company), which default is caused
by a failure to pay principal of or premium, if any, on such indebtedness upon its stated maturity or which default results in the acceleration of such indebtedness prior to its express maturity and the principal amount of any such indebtedness,
together with the principal amount of any other such indebtedness the maturity of which has been so accelerated, aggregates $50.0 million or more and such acceleration has not been rescinded or annulled or such indebtedness discharged in full within
30 days; 
 (i) the Company or any Significant Subsidiary of the Company pursuant to or within the meaning of any Bankruptcy
Law: 
 (A) commences a voluntary case, 

(B) consents to the entry of an order for relief against it in an involuntary case, 

  
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 (C) consents to the appointment of a Bankruptcy Custodian of it or for all or
substantially all of its property, or 
 (D) makes a general assignment for the benefit of its creditors; and 

(j) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that remains unstayed and in effect
for 90 days and that: 
 (A) is for the relief against the Company or any Significant Subsidiary of the Company as debtor in
an involuntary case, 
 (B) appoints a Bankruptcy Custodian of the Company or any Significant Subsidiary of the Company or a
Bankruptcy Custodian for all or substantially all of the property of any Significant Subsidiary of the Company, or 
 (C)
orders the liquidation of the Company or any Significant Subsidiary of the Company. 
 SECTION 5.02. Additional Interest.
Notwithstanding any provisions of the Indenture to the contrary, if the Company so elects, the sole remedy for an Event of Default relating to any obligation to file documents and reports with the Trustee as required by Section 9.06 of
this Indenture shall for the first 180 days following the occurrence of such Event of Default consist exclusively of the right to receive additional interest on the Notes at a rate equal to 0.25% per annum of the principal amount of the Notes
outstanding for each during the 90-day period beginning on, and including, the occurrence of such Event of Default during which such Event of Default is continuing, and at a rate equal to 0.50% per annum of the principal amount of the Notes
outstanding for each day from the 91st day until the 364th day during which such Event of Default is continuing (in each case, “Additional Interest”). In order to elect to pay Additional Interest as the sole remedy during the first
364 days after the occurrence of an Event of Default described in the preceding sentence, the Company must give notice to Holders of the Notes, the Trustee and the Paying Agent of such election on or prior to the close of business on the Business
Day before the date on which such Event of Default would occur and on or prior to the close of business on the 91st day after the date on which such Event of Default first occurs. If the Company so elects, such Additional Interest shall be payable
in the same manner and on the same dates as the stated interest payable on the Notes. Upon the failure to timely give all Holders, the Trustee and the Paying Agent such notice, the Notes will be subject to immediate acceleration as provided in
Section 5.03 of this Indenture. On the 365th day after such Event of Default occurs (if such Event of Default is not cured or waived prior to such 365th day), the Notes shall be subject to acceleration as provided in
Section 5.03 of the Indenture. This Section 5.02 shall not affect the rights of Holders of Notes in the event of the occurrence of any other Event of Default. Whenever in the Indenture there is mentioned, in any context, the
payment of interest on, or in respect of, any Note, such mention shall be deemed to include mention of the payment of Additional Interest provided for in this Section 5.02 to the extent that, in such context, Additional Interest is, was
or would be payable in respect 

  
 54 

 
thereof pursuant to the provisions of this Section 5.02, and express mention of the payment of Additional Interest (if applicable) in any provision shall not be construed as excluding
Additional Interest in those provisions where such express mention is not made. 
 SECTION 5.03. Acceleration. Subject to the
provisions of Section 5.02, if an Event of Default occurs and is continuing, the Trustee by notice to the Company, or the Holders of at least 25% in aggregate principal amount of the outstanding Notes by notice to the Company and the
Trustee, may, and the Trustee at the written request of such holders shall, declare 100% of the principal of and accrued and unpaid interest on all the Notes to be due and payable. Upon such a declaration of acceleration, all principal and accrued
and unpaid interest (including any Additional Interest) on the Notes will be due and payable immediately. However, upon an Event of Default arising out of Sections 5.01(i) or 5.01(j), the aggregate principal amount and accrued and
unpaid interest (including any Additional Interest) will be due and payable immediately, without any declaration, notice or other act on the part of the Trustee or Holder. The Holders of a majority in principal amount of the then outstanding Notes
affected by such Event of Default, by written notice to the Trustee, may rescind an acceleration and its consequences (other than nonpayment of principal of or premium, if any, or interest on or any Additional Interest with respect to the Notes) if
the rescission would not conflict with any judgment or decree and if all existing Events of Default with respect to the Notes have been cured or waived, except nonpayment of principal, premium, if any, interest or any Additional Interest that has
become due solely because of the acceleration. 
 SECTION 5.04. Payments of Notes on Default; Suit Therefor. If an Event of Default
described in clause (a) or (b) of Section 5.01 shall have occurred and be continuing, the Company shall, upon demand of the Trustee, pay to it, for the benefit of the holders of the Notes, the whole amount then due and payable
on the Notes for principal, premium, if any, and interest, with interest on any overdue principal, premium, if any, interest, at the rate borne by the Notes at such time, and, in addition thereto, such further amount as shall be sufficient to cover
any amounts due to the Trustee under Section 11.06. If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the
collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the Notes and collect the monies adjudged or decreed to be payable in the
manner provided by law out of the property of the Company or any other obligor upon the Notes, wherever situated. 
 In the event there
shall be pending proceedings for the bankruptcy or for the reorganization of the Company or any other obligor on the Notes under any Bankruptcy Law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator
or similar official shall have been appointed for or taken possession of the Company or such other obligor, the property of the Company or such other obligor, or in the event of any other judicial proceedings relative to the Company or such other
obligor upon the Notes, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of the 

  
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Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this
Section 5.04, shall be entitled and empowered, by intervention in such proceedings or otherwise, to file and prove a claim or claims for the whole amount of principal premium, if any, and accrued and unpaid interest in respect of the
Notes, and, in case of any judicial proceedings, to file such proofs of claim and other papers or documents and to take such other actions as it may deem necessary or advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders of Notes allowed in such judicial proceedings relative to the Company or any other obligor on the Notes, its or their creditors,
or its or their property, and to collect and receive any monies or other property payable or deliverable on any such claims, and to distribute the same after the deduction of any amounts due the Trustee under Section 11.06; and any
receiver, assignee or trustee in bankruptcy or reorganization, liquidator, custodian or similar official is hereby authorized by each of the Holders of Notes to make such payments to the Trustee, as administrative expenses, and, in the event that
the Trustee shall consent to the making of such payments directly to the Holders of Notes, to pay to the Trustee any amount due it for reasonable compensation, expenses, advances and disbursements, including agent’s and counsel fees and
expenses, and including any other amounts due to the Trustee under Section 11.06 hereof, incurred by it up to the date of such distribution. To the extent that such payment of reasonable compensation, expenses, advances and disbursements
out of the estate in any such proceedings shall be denied for any reason, payment of the same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, monies, securities and other property that the holders of
the Notes may be entitled to receive in such proceedings, whether in liquidation or under any plan of reorganization or arrangement or otherwise. 

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

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

  
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 In case the Trustee shall have proceeded to enforce any right under this Indenture and such
proceedings shall have been discontinued or abandoned because of such waiver or rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Holders of Notes,
and the Trustee shall, subject to any determination in such proceeding, be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the Company, the Holders of Notes, and the Trustee shall
continue as though no such proceeding had been instituted. 
 SECTION 5.05. Application of Monies Collected by the Trustee. Any
monies collected by the Trustee pursuant to this Article 5 with respect to the Notes shall be applied in the order following, at the date or dates fixed by the Trustee for the distribution of such monies, upon presentation of the several
Notes, and stamping thereon the payment, if only partially paid, and upon surrender thereof, if fully paid: 
 First, to the
payment of all amounts due the Trustee under Section 11.06; 
 Second, in case the principal of the outstanding
Notes shall not have become due and be unpaid, to the payment of interest on the Notes, including any Additional Interest, in default in the order of the date due of the installments of such interest, with interest (to the extent that such interest
has been collected by the Trustee) upon the overdue installments of interest at the rate borne by the Notes at such time, such payments to be made ratably to the Persons entitled thereto; 

Third, in case the principal of the outstanding Notes shall have become due, by declaration or otherwise, and be unpaid to the
payment of the whole amount including the payment of the Fundamental Change Purchase Price and the cash component of the Conversion Obligation, if any, then owing and unpaid upon the Notes for principal and premium, if any, and interest, including
any Additional Interest, with interest on the overdue principal and premium, if any, and (to the extent that such interest has been collected by the Trustee) upon overdue installments of interest at the rate borne by the Notes at such time, and in
case such monies shall be insufficient to pay in full the whole amounts so due and unpaid upon the Notes, then to the payment of such principal and premium, if any, and interest without preference or priority of principal and premium, if any, over
interest, or of interest over principal and premium, if any, or of any installment of interest over any other installment of interest, or of any Note over any other Note, ratably to the aggregate of such principal and premium, if any, and accrued
and unpaid interest; and 
 Fourth, to the payment of the remainder, if any, to the Company. 

SECTION 5.06. Proceedings by Holders of Notes. No holder of any Note shall have any right by virtue of or by availing of any provision
of this Indenture to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Indenture, or for the appointment of a receiver, trustee, liquidator, custodian or other

  
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similar official, or for any other remedy hereunder, unless such holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof, as
hereinbefore provided, and unless also the holders of not less than 25% in aggregate principal amount of the Notes then outstanding shall have made written request to the Trustee to institute such action, suit or proceeding in its own name as
Trustee hereunder and shall have offered to the Trustee such security or indemnity satisfactory to it against any loss, liability or expense to be incurred therein or thereby, and the Trustee for 60 days after its receipt of such notice, request and
offer of indemnity, shall have neglected or refused to institute any such action, suit or proceeding and no direction that, in the opinion of the Trustee, is inconsistent with such written request shall have been given to the Trustee by the holders
of a majority in principal amount of the Notes outstanding within such 60-day period pursuant to Section 5.09; it being understood and intended, and being expressly covenanted by the taker and holder of every Note with
every other taker and holder and the Trustee that no one or more Noteholders shall have any right in any manner whatever by virtue of or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of any other
Noteholder (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Noteholders), or to obtain or seek to obtain priority over or preference to
any other such holder, or to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all Noteholders (except as otherwise provided herein). For the protection and enforcement of
this Section 5.06, each and every Noteholder and the Trustee shall be entitled to such relief as can be given either at law or in equity. 

Notwithstanding any other provision of this Indenture and any provision of any Note, the right of any Holder of Notes to (i) receive
payment of principal of and premium, if any, and interest and any Additional Interest when due, (ii) receive payment or delivery of the consideration due upon conversion, (iii) receive the Fundamental Change Purchase Price when due,
(iv) receive the Redemption Price when due in connection with an optional redemption or (v) bring suit for the enforcement of any of (i), (ii), (iii) and (iv) above, is absolute and unconditional and shall not be impaired or
affected without the consent of such Holder. 
 Anything in this Indenture or the Notes to the contrary notwithstanding, the holder of any
Note, without the consent of either the Trustee or the holder of any other Note, on its own behalf and for its own benefit, may enforce, and may institute and maintain any proceeding suitable to enforce, its rights of conversion as provided herein.

 SECTION 5.07. Proceedings by Trustee. In case of an Event of Default the Trustee may in its discretion proceed to protect and
enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as are necessary to protect and enforce any of such rights, either by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether
for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by
law. 

  
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 SECTION 5.08. Remedies Cumulative and Continuing. Except as provided in the last paragraph
of Section 2.07 and Section 5.02, all powers and remedies given by this Article 5 to the Trustee or to the Noteholders shall, to the extent permitted by law, be deemed cumulative and not exclusive of any thereof or of
any other powers and remedies available to the Trustee or the holders of the Notes, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this Indenture, and no delay or omission
of the Trustee or of any holder of any of the Notes to exercise any right or power accruing upon any Default or Event of Default shall impair any such right or power, or shall be construed to be a waiver of any such Default or any acquiescence
therein; and, subject to the provisions of Section 5.06, every power and remedy given by this Article 5 or by law to the Trustee or to the Noteholders may be exercised from time to time, and as often as shall be deemed expedient,
by the Trustee or by the Noteholders. 
 SECTION 5.09. Direction of Proceedings and Waiver of Defaults by Majority of Holders of
Notes. The Holders of a majority in aggregate principal amount of the Notes at the time outstanding determined in accordance with Section 12.04 shall have the right to direct the time, method and place of conducting any proceeding
for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee with respect to Notes; provided, however, that (a) such direction shall not be in conflict with any rule of law or with this
Indenture, and (b) the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. The Trustee may refuse to follow any direction that it determines is unduly prejudicial to the rights of any
other holder or that would involve the Trustee in personal liability. The Holders of a majority in aggregate principal amount of the Notes at the time outstanding determined in accordance with Section 12.04 by notice to the Trustee may
waive an existing or past Default or Event of Default with respect to such Notes and its consequences, except (1) a continuing Default or Event of Default in the payment of premium, accrued and unpaid interest or any accrued and unpaid
Additional Interest on, or the principal (including any Fundamental Change Purchase Price or the Redemption Price in connection with an optional redemption) of, the Notes when due, (2) a continuing Default or Event of Default in the payment or
delivery of any consideration due upon conversion of any Note, or (3) a continued Default in respect of a provision that under Article 7 cannot be amended or supplemented without the consent of each Holder affected. Upon any such waiver,
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 waiver shall extend to any subsequent or other Default or impair any right consequent
thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 5.09, said Default or Event of Default shall for all purposes of the Notes and this Indenture be deemed to have been cured
and to be not continuing; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. 

SECTION 5.10. Notice of Defaults. The Trustee shall, within 90 days after the occurrence and continuance of a Default or Event of
Default of which a Responsible Officer has actual knowledge, mail to all Noteholders as the names and addresses of such holders appear upon the Note Register, notice of all Defaults or Events 

  
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of Default known to a Responsible Officer, unless such Defaults or Events of Default shall have been cured or waived before the giving of such notice; and provided that, except in the case
of a Default or in the payment of the principal of, or premium, if any, accrued and unpaid interest including any accrued and unpaid Additional Interest on any of the Notes, including without limiting the generality of the foregoing any Default or
Event of Default in the payment of any Fundamental Change Purchase Price, the Redemption Price in connection with an optional redemption, or a Default or Event of Default in the payment or delivery of consideration due upon conversion of the Notes,
then in any such event the Trustee shall be protected in withholding such notice if and so long as a committee of Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the interests of the Noteholders.

 SECTION 5.11. Undertaking to Pay Costs. All parties to this Indenture agree, and each holder of any Note by its acceptance thereof
shall be deemed to have agreed, that any court may, in its discretion, require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the
filing by any party litigant in such suit of an undertaking to pay the costs of such suit and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in such
suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; provided that the provisions of this Section 5.11 (to the extent permitted by law) shall not apply to any suit instituted
by the Trustee, to any suit instituted by any Noteholder, or group of Noteholders, holding in the aggregate more than 10% in principal amount of the Notes at the time outstanding determined in accordance with Section 12.04, or to any
suit instituted by any Noteholder for the enforcement of the payment of the principal of or premium, if any, accrued and unpaid interest, if any, on any Note (including, but not limited to, the Fundamental Change Purchase Price with respect to the
Notes being repurchased as provided in this Indenture) on or after the due date expressed or provided for in such Note or to any suit for the enforcement of the right to convert any Note in accordance with the provisions of Article 4.

 ARTICLE 6 
 MERGER,
SALE, CONVEYANCE AND LEASE 
 SECTION 6.01. Company May Consolidate, Etc. on Certain Terms. Subject to the provisions of
Section 6.02, the Company shall not consolidate with, merge with or into, any other Person, or sell, convey, transfer or lease all or substantially all of its property and assets, to any Person or permit any Person to merge with or into
the Company, unless: 
 (a) the resulting, surviving or transferee Person (if not the Company) (the
“Successor”) is a corporation organized and validly existing under the laws of the United States of America, any state thereof or the District of Columbia and such corporation (if not the Company) expressly assumes by an indenture
supplemental hereto, all of the Company’s obligations for the due and punctual payment of the 

  
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principal of and interest on all the Notes and the performance and observance of every covenant of this Indenture and the Notes on the part of the Company to be performed or observed; 

(b) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing;

 (c) if as a result of such transaction the Notes become convertible into Reference Property issued by a third party, such
third party fully and unconditionally guarantees all obligations of the Company and such successor Person under the Notes and this Indenture; and 

(d) the Company or such successor Person shall have delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and such supplemental indenture comply with this Article and that all conditions precedent provided for in the Indenture relating to such transaction have been
complied with. 
 SECTION 6.02. Successor Person Substituted. Upon any consolidation or merger of the Company or any sale, lease,
conveyance, transfer or other disposition of all or substantially all of the assets of the Company in accordance with Section 6.01, the Successor formed by such consolidation or into or with which the Company is merged or to which such
sale, lease, conveyance, transfer or other disposition is made shall succeed to, and be substituted for, and may exercise every right and power of the Company under this Indenture and the Securities with the same effect as if such Successor had been
named as the Company herein and the predecessor Company, in the case of a sale, conveyance, transfer or other disposition, shall be released from all obligations under this Indenture and the Securities. 

ARTICLE 7 
 SUPPLEMENTAL
INDENTURES 
 SECTION 7.01. Amendments or Supplements Without Consent of Holders. The Company, when authorized by the resolutions
of the Board of Directors, the Paying Agent, and the Trustee, at the Company’s expense, may amend or supplement this Indenture or the Notes or waive any provision hereof or thereof without the consent of any Holder for one or more of the
following purposes: 
 (a) cure any ambiguity, omission, defect or inconsistency that does not adversely affect Holders of
the Notes; 
 (b) provide for the assumption by a successor corporation of the obligations of the Company under the
Indenture; 
 (c) add guarantees with respect to the Notes; 

(d) secure the Notes; 

  
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 (e) add to the covenants of the Company for the benefit of the Holders or
surrender any right or power conferred upon the Company; 
 (f) make any change that does not adversely affect the rights of
any Holder; 
 (g) appoint a successor trustee with respect to the Notes; or 

(h) conform the provisions of the Indenture to the “Description of notes” section in the Offering Memorandum.

 Upon the written request of the Company, the Trustee and the Paying Agent are hereby authorized to join with the Company in the execution
of any such supplemental indenture, to make any further appropriate agreements and stipulations that may be therein contained, but neither the Trustee nor the Paying Agent shall be obligated to, but may in its discretion, enter into any supplemental
indenture that affects its own rights, duties or immunities under this Indenture or otherwise. 
 Any supplemental indenture authorized by
the provisions of this Section 7.01 may be executed by the Company, the Trustee and the Paying Agent without the consent of the Holders of any of the Notes at the time outstanding, notwithstanding any of the provisions of Section
7.02. 
 SECTION 7.02. Amendments, Supplements or Waivers With Consent of Holders. With the consent of the Holders of at least a
majority in aggregate principal amount of the Notes at the time outstanding (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes), the Company, when authorized by the
resolutions of the Board of Directors, the Paying Agent and the Trustee, at the Company’s expense, may from time to time and at any time enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of this Indenture or any supplemental indenture or of modifying in any manner the rights of the Holders of the Notes or waiving any past default; provided, however, that no such
supplemental indenture shall, without the consent of each Holder of an outstanding Note affected: 
 (a) reduce the amount of
Notes whose Holders must consent to an amendment; 
 (b) reduce the rate of or extend the stated time for payment of
interest, including Additional Interest, on any Note; 
 (c) reduce the principal of or extend the stated maturity of any
Note; 
 (d) make any change that adversely affects the conversion rights of any Notes; 

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

(f) change the place or currency of payment of principal or interest including any Additional Interest in respect of any Note;

 (g) change the ranking of the Notes; 

(h) impair the right of any Holder to receive payment of principal and interest, including Additional Interest, on such
Holder’s Notes on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Notes; or 

(i) make any change to the subordination provisions of the Indenture if such change would adversely affect the rights of
Holders; or 
 (j) make any change in this Section 7.02 or Section 5.09, except to increase any such
percentage or to provide that certain other provisions of the Indenture cannot be modified or waived without the consent of the Holder of each Note so affected. 

Upon the written request of the Company, and upon the filing with the Trustee and the Paying Agent of evidence of the consent of Noteholders
as aforesaid and subject to Section 7.05, the Trustee and the Paying Agent shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s or the Paying
Agent’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee or the Paying Agent may in its discretion, but shall not be obligated to, enter into such supplemental indenture. 

It shall not be necessary for the consent of the Noteholders under this Section 7.02 to approve the particular form of any
proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. After an amendment under this Indenture becomes effective, the Company shall mail to the holders a notice briefly describing such
amendment. However, the failure to give such notice to all the holders, or any defect in the notice, will not impair or affect the validity of the amendment. 

SECTION 7.03. Effect of Supplemental Indentures. Upon the execution of any supplemental indenture pursuant to the provisions of this
Article 7, this Indenture shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitation of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company and the
Noteholders shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the
terms and conditions of this Indenture for any and all purposes. 

  
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 SECTION 7.04. Notation on Notes. Notes authenticated and delivered after the execution of
any supplemental indenture pursuant to the provisions of this Article 7.04 may, at the Company’s expense, bear a notation in form approved by the Authenticating Agent as to any matter provided for in such supplemental indenture. If the
Company shall so determine, new Notes so modified as to conform, in the opinion of the Board of Directors, to any modification of this Indenture contained in any such supplemental indenture may, at the Company’s expense, be prepared and
executed by the Company, authenticated by the Authenticating Agent and delivered in exchange for the Notes then outstanding, upon surrender of such Notes then outstanding. 

SECTION 7.05. Evidence of Compliance of Supplemental Indenture to be Furnished to Trustee. In addition to the documents required by
Section 14.05, the Trustee and the Paying Agent shall receive an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant hereto complies with the requirements of this
Article 7 and is permitted or authorized by the Indenture. 
 ARTICLE 8 

SUBORDINATION OF NOTES 

SECTION 8.01. Notes Subordinate to Senior Indebtedness. The Company covenants and agrees, and each holder of a Note, whether upon
original issue or upon registration of transfer, assignment or exchange hereof, by his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article 8, the indebtedness
represented by the Notes and the payment of the principal amount, premium, if any, any cash portion of the Conversion Obligation in respect of, and interest on all Notes (including, but not limited to, the Fundamental Change Purchase Price with
respect to the Notes subject to repurchase in accordance with Article 3 as provided in this Indenture) (collectively, the “Subordinated Obligations”) are hereby expressly made subordinate and junior in right of payment to the
prior payment in full in cash or other payment satisfactory to the holders of Senior Indebtedness of all Senior Indebtedness and that said subordination is for the benefit of the holders of Senior Indebtedness and they and/or each of them severally
may enforce such subordination. The Notes will be pari passu in right of payment to all Senior Subordinated Indebtedness of the Company and senior in right of payment to all Subordinated Indebtedness of the Company. 

SECTION 8.02. Payment Over of Proceeds Upon Dissolution, Etc. In the event of (a) any dissolution, insolvency or bankruptcy case
or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding in connection therewith, relative to the Company or to its creditors, as such, or to its assets, or (b) any liquidation, dissolution or other
winding up of the Company, in each case whether voluntary or involuntary and whether or not involving insolvency or bankruptcy, or (c) any assignment for the benefit of creditors or any other marshaling of assets and liabilities of the Company
upon any payment or distribution of the Company’s assets or securities, then and in any such event the holders of Senior Indebtedness shall be entitled to receive payment in full in cash, or other payment satisfactory to the holders of Senior
Indebtedness, of all amounts due or to become due on or in respect of all Senior Indebtedness before the holders of the Notes are entitled to receive any payment or distribution on account of the Subordinated Obligations, and to that end the holders
of Senior Indebtedness or their representative or representatives or the trustee or trustees under any indenture under which any instruments evidencing any of such Senior Indebtedness may have been issued, shall be entitled

  
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to receive from the liquidating trustee or agent or other Person making such payment or distribution, whether a trustee in bankruptcy, a receiver or liquidating trustee or otherwise, ratably
according to the aggregate amounts remaining unpaid on account of the Senior Indebtedness held or represented by each, to the extent necessary to make payment in full in cash or other payment satisfactory to the holders of Senior Indebtedness of all
Senior Indebtedness remaining unpaid, for application to the payment thereof, any payment or distribution of any kind or character, whether in cash, property or securities, which may be payable or deliverable in respect of the Subordinated
Obligations in any such case, proceeding, dissolution, liquidation or other winding up or event, assignment or marshalling. 
 The
consolidation of the Company with, or the merger of the Company with or into, another Person or the liquidation or dissolution of the Company following the sale, conveyance, transfer or lease of all or substantially all of its properties and assets
to another Person upon the terms and conditions set forth in Article 6 hereof shall not be deemed a dissolution, winding up, liquidation, reorganization, assignment for the benefit of creditors or marshaling of assets and liabilities of the
Company for the purposes of this Section 8.02 if the Person formed by such consolidation or with or into which the Company is merged or which acquires by sale, conveyance, transfer or lease all or substantially all of such properties and
assets, as the case may be, shall, as a part of such consolidation, merger, sale, conveyance, lease or transfer, comply with the conditions set forth in Article 6 hereof. 

SECTION 8.03. No Payment When Senior Indebtedness in Default. (a) The Company may not make any payment of or distribution with
respect to the Subordinated Obligations nor may the Company acquire, defease or repurchase any Notes if (i) a payment default on any Senior Indebtedness has occurred and is continuing with respect thereto (unless and until such payment default
shall have been cured or waived in writing by the holders of such Senior Indebtedness); or (ii) a default (other than a default referred to in the preceding clause (i)) on any Designated Senior Indebtedness occurs and is continuing that permits
holders of such Senior Indebtedness to accelerate the maturity thereof and either such default is the subject of judicial proceedings or the Paying Agent receives a written notice of default thereof that blocks payment under the Notes from any
Person who may give such notice pursuant to the instrument evidencing or document governing such Designated Senior Indebtedness (a “Senior Indebtedness Default Notice”). If the Company receives a Senior Indebtedness Default Notice,
then a similar notice received within nine months thereafter relating to the same default on the same issue of Senior Indebtedness shall not be effective to prevent the payment or acquisition of the Notes for purposes of this Section 8.03.

  
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 The Company may resume payment on the Notes and may acquire Notes for cash if and when
(x) the default referred to in clause (i) or (ii) of the preceding paragraph above is cured or waived in writing or ceases to exist; or (y) in the case of a default referred to in clause (ii) of the preceding paragraph, 179
or more days pass after the receipt by the Company of the Senior Indebtedness Default Notice, and this Article 8 otherwise permits the payment or acquisition at that time. 

Nothing contained in this Article 8 or elsewhere in this Indenture or in any of the Notes shall prevent the conversion by a holder of
any Notes into shares of Common Stock in accordance with the provisions for conversion of such Notes set forth in this Indenture. 
 (b) In
the event of an acceleration of the Notes as a result of an Event of Default, then and in such event the Company shall promptly notify holders of Senior Indebtedness of such acceleration. The Company may not pay, or make any distribution with
respect to, the Notes until the earlier of (i) the passage of 120 or more days have passed after such acceleration occurs or (ii) the payment in full in cash or other payment satisfactory to the holders of Senior Indebtedness of all Senior
Indebtedness, and may thereafter pay, or make any distribution with respect to, the Notes if this Article 8 permits the payment or distribution at that time. 

(c) In the event that, notwithstanding the foregoing provisions, any payment or distribution of any kind or character, whether in cash,
property or securities (including, without limitation, by way of setoff or otherwise), prohibited by this Article 8, shall be received by the Paying Agent or the holders of the Notes before all Senior Indebtedness is paid in full in cash
or other payment satisfactory to the holders of such Senior Indebtedness, such payment or distribution shall be held in trust for the benefit of and shall be paid over or delivered to the holders of Senior Indebtedness or their representative or
representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing any Senior Indebtedness may have been issued, as their respective interests may appear for application to the payment of all Senior
Indebtedness remaining unpaid to the extent necessary to pay all Senior Indebtedness in full in cash or other payment satisfactory to the holders of such Senior Indebtedness, after giving effect to any concurrent payment or distribution, or
provision therefor, to or for the holders of such Senior Indebtedness. 
 SECTION 8.04. Payment Permitted If No Default. Nothing
contained in this Article 8 or any other provision relating to subordination elsewhere in this Indenture or in any of the Notes shall prevent the Company, at any time except in the circumstances described in Section 8.02 and
Section 8.03, from making payments at any time of the principal amount of the Notes, any cash portion of the Conversion Obligation, interest, the repurchase price with respect to Notes submitted for repurchase in accordance with
Article 3, as the case may be, as provided in this Indenture. 
 SECTION 8.05. Subrogation to Rights of Holders of Senior
Indebtedness. Subject to the payment in full of all Senior Indebtedness in cash, and until the Notes are paid in full, the holders of the Notes shall be subrogated (equally and ratably with the 

  
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holders of all Senior Subordinated Indebtedness) to the rights of the holders of such Senior Indebtedness to receive payments and distributions of cash, property and securities applicable to the
Senior Indebtedness to the extent that payments and distributions otherwise payable to holders of Notes have been applied to the payment of Senior Indebtedness as provided by this Article 8. For purposes of such subrogation, no payments or
distributions to the holders of the Senior Indebtedness of any cash, property or securities to which the Holders of the Notes or the Paying Agent would be entitled, except for the provisions of this Article 8, and no payments over pursuant to
the provisions of this Article 8 to the holders of Senior Indebtedness by Holders of the Notes or the Paying Agent, shall, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Notes, be deemed
to be a payment or distribution by the Company to or on account of the Notes. 
 SECTION 8.06. Provisions Solely To Define Relative
Rights. The provisions of this Article 8 are and are intended solely for the purpose of defining the relative rights of the holders of the Notes on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained
in this Article 8 or elsewhere in this Indenture or in the Notes is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the holders of the Notes, the obligation of the
Company, which is absolute and unconditional (and which, subject to the rights under this Article 8 of the holders of Senior Indebtedness, is intended to rank equally with all other general obligations of the Company), to pay to the holders
of the Notes the principal amount of the Notes, any cash portion of the Conversion Obligation, interest, the repurchase price with respect to Notes submitted for repurchase in accordance with Article 3, as the case may be, as provided in this
Indenture as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company of the holders of the Notes and creditors of the Company other than the holders of Senior
Indebtedness; or (c) prevent the Paying Agent or the Holder of any Note from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article 8 of the
holders of Senior Indebtedness to receive cash, property and securities otherwise payable or deliverable to the Paying Agent or such holder. If the Company fails, as a result of this Article 8, to pay to the holders of the Notes the principal
amount of the Notes, any cash portion of the Conversion Obligation, interest, the repurchase price with respect to Notes submitted for repurchase in accordance with Article 3, as the case may be, as provided in this Indenture as and when the
same shall become due and payable in accordance with their terms, such failure shall still constitute a Default or an Event of Default. 

SECTION 8.07. Paying Agent to Effectuate Subordination. Each holder of a Note by his acceptance thereof authorizes and directs the
Paying Agent on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article 8 and appoints the Paying Agent his attorney-in-fact for any and all such purposes. 

SECTION 8.08. No Waiver of Subordination Provisions. No right of any present or future holder of any Senior Indebtedness to enforce
subordination as herein 

  
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provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by
any non-compliance by the Company with the terms, provisions and covenants of this Indenture, regardless of any knowledge thereof any such holder may have or be otherwise charged with. 

Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Indebtedness may, at any time and from time to
time, without the consent of or notice to the Paying Agent or the holders of the Notes, without incurring responsibility to the holders of the Notes and without impairing or releasing the subordination provided in this Article 8 or the
obligations hereunder of the holders of the Notes to the holders of Senior Indebtedness, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of payment of, or renew, exchange, increase or
alter, Senior Indebtedness, or otherwise amend, modify or supplement in any manner Senior Indebtedness or any instrument evidencing the same or any agreement under which Senior Indebtedness or any security thereof or guarantee thereof is
outstanding; (ii) sell, exchange, release, surrender, realize upon, enforce or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Indebtedness; (iii) release any Person liable in any manner for the collection
of Senior Indebtedness; (iv) exercise or refrain from exercising any rights against the Company and any other Person; (v) apply any and all sums received from time to time to the Senior Indebtedness; provided that if any Senior
Indebtedness is amended to provide that it shall be subordinated to any other Senior Indebtedness, such amended Senior Indebtedness shall no longer be considered Senior Indebtedness for purposes of this Article 8. 

The provisions of this Article 8 shall continue to be effective or be reinstated as the case may be if at any time any payment of the
Senior Indebtedness is rescinded or must otherwise be returned by the holder thereof upon the insolvency, bankruptcy or reorganization of the Company or otherwise, all as though such payment had not been made. 

SECTION 8.09. Notice to Paying Agent. The Company shall give prompt written notice to Responsible Officers of the Paying Agent of any
fact known to the Company which would prohibit the making of any payment to or by the Paying Agent in respect of the Notes. Notwithstanding the provisions of this Article 8 or any other provision of this Indenture, the Paying Agent shall not
be charged with knowledge of the existence of any facts which would prohibit the making of any payment to or distribution by the Paying Agent in respect of the Notes, unless and until a Responsible Officers of the Paying Agent shall have received
written notice thereof from the Company or a holder of Senior Indebtedness or from any trustee therefor; and, prior to the receipt of any such written notice, the Paying Agent, subject to the provisions of Section 11.01, shall be
entitled in all respects to assume that no such facts exist; provided, however, that if the Paying Agent shall not have received the notice provided for in this Section 8.09 at least two Business Days prior to the date upon which
by the terms hereof any money may become payable for any purpose, then, anything herein contained to the contrary notwithstanding, the Paying Agent shall have full power and authority to receive such money and to apply the same to the purpose for
which such money was received and shall not be affected by any notice to the contrary which may be received by it within two Business Days prior to such date. 

  
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 Subject to the provisions of the Indenture, the Paying Agent shall be entitled to rely
conclusively on the delivery to it of a written notice by a Person representing himself to be a holder of Senior Indebtedness (or a trustee therefor) to establish that such notice has been given by a holder of Senior Indebtedness (or a trustee
therefor). In the event that the Paying Agent determines in good faith that further evidence is required with respect to the right of any Person as a holder of Senior Indebtedness to participate in any payment or distribution pursuant to this
Article 8 (although the Paying Agent is not obligated to make such determination), the Paying Agent and the Trustee (as applicable) may request such Person to furnish evidence to the reasonable satisfaction of the Paying Agent as to the
amount of Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article 8, and if such
evidence is not furnished, the Paying Agent may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. 

SECTION 8.10. Reliance on Judicial Order or Certificate of Liquidating Agent. Upon any payment or distribution of assets of the Company
referred to in this Article 8, the Paying Agent, subject to the provisions of the Indenture, and the holders of the Notes shall be entitled to conclusively rely upon any order or decree entered by any court of competent jurisdiction in which
such insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution, winding up or similar case or proceeding is pending, or a certificate of the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee for the
benefit of creditors, agent or other Person making such payment or distribution, delivered to the Paying Agent or to the holders of Notes, for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the
holders of the 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 8. 

SECTION 8.11. Paying Agent Not Fiduciary for Holders of Senior Indebtedness. The Paying Agent shall not be deemed to owe any fiduciary
duty to the holders of Senior Indebtedness and (subject to Section 8.09 hereof) shall not be liable to any such holders if it shall in good faith mistakenly pay over or distribute to holders of Notes or to the Company or to any other
Person cash, property or securities to which any holders of Senior Indebtedness shall be entitled by virtue of this Article 8 or otherwise. 

SECTION 8.12. Rights of Paying Agent as Holder of Senior Indebtedness; Preservation of Paying Agent’s Rights. The Paying Agent in
its individual capacity shall be entitled to all the rights set forth in this Article 8 with respect to any Senior Indebtedness which may at any time be held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in
this Indenture shall deprive the Paying Agent of any of its rights as such holder. 

  
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 Nothing in this Article 8 shall apply to claims of, or payments to, the Trustee or the
Paying Agent under or pursuant to Section 11.06. 
 SECTION 8.13. [Reserved]. 

SECTION 8.14. No Senior Subordinated Indebtedness. The Company shall not, directly or indirectly, create, incur, issue, assume,
guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to any indebtedness that is subordinate or junior in right of payment to any Senior Indebtedness and senior in right of payment to the Notes. 

SECTION 8.15. Amendment of Subordination Provisions. Any Senior Indebtedness will continue to be Senior Indebtedness and will be
entitled to the benefits of the subordination provisions of this Article 8 irrespective of any amendment, modification or waiver of any of such subordination provisions. 

ARTICLE 9 
 COVENANTS OF
THE COMPANY 
 SECTION 9.01. Payment of Principal, Premium and Interest. The Company covenants and agrees that it will cause to
be paid the principal of and premium, if any (including the Fundamental Change Purchase Price), and accrued and unpaid interest on each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes. 

SECTION 9.02. Maintenance of Office or Agency. The Company will maintain an office or agency where the Notes may be surrendered for
registration of transfer or exchange or for presentation for payment or repurchase (“Paying Agent”) or for conversion (“Conversion Agent”) and where notices and demands to or upon the Company in respect of the Notes
and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office or
agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office. 

The Company may also from time to time designate co-registrars, one or more other offices or agencies where the Notes may be presented or
surrendered for any or all such purposes and may from time to time rescind such designations; provided that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency for such
purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. The terms “Paying Agent” and “Conversion
Agent” include any such additional or other offices or agencies, as applicable. 

  
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 The Company hereby initially designates the Trustee as the Paying Agent, Note Registrar and
Conversion Agent and the Corporate Trust Office shall be considered as one such office or agency of the Company for each of the aforesaid purposes. 

SECTION 9.03. Appointments to Fill Vacancies in Trustee’s Office. The Company, whenever necessary to avoid or fill a vacancy in
the office of Trustee, will appoint, in the manner provided in Section 11.10, a Trustee, so that there shall at all times be a Trustee hereunder. 

SECTION 9.04. Provisions as to Paying Agent. (a) If the Company shall appoint a Paying Agent other than the Trustee, the Company
will cause such Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section 9.04: 

(i) that it will hold all sums held by it as such agent for the payment of the principal of and premium, if any, and accrued
and unpaid interest on the Notes in trust for the benefit of the holders of the Notes; 
 (ii) that it will give the Trustee
prompt notice of any failure by the Company to make any payment of the principal of and premium, if any, and accrued and unpaid interest on the Notes when the same shall be due and payable; and 

(iii) that at any time during the continuance of an Event of Default, upon request of the Trustee, it will forthwith pay to the
Trustee all sums so held in trust. 
 The Company shall, by 11:00 a.m., New York City time at least one Business Day prior to each due date
of the principal of, or premium (including the Fundamental Change Purchase Price or the Redemption Price in connection with an optional redemption), if any, or accrued and unpaid interest on the Notes, deposit with the Paying Agent a sum sufficient
to pay such principal, premium (including the Fundamental Change Purchase Price or the Redemption Price in connection with an optional redemption), if any, or accrued and unpaid interest and (unless such Paying Agent is the Trustee) the Company will
promptly notify the Trustee of any failure to take such action, provided, however, that to the extent any such funds are received by the Paying Agent from the Company after 11:00 a.m. (local time in The City of New York) on such date,
such funds will be deemed to have been deposited within one Business Day of the receipt thereof. 
 (b) If the Company shall act as its own
Paying Agent, it will, on or before each due date of the principal of, premium (including the Fundamental Change Purchase Price or the Redemption Price in connection with an optional redemption), if any, accrued and unpaid interest on the Notes, set
aside, segregate and hold in trust for the benefit of the holders of the Notes a sum sufficient to pay such principal, premium (including the Fundamental Change Purchase Price or the Redemption Price in connection with an optional redemption), if
any, accrued and unpaid interest so becoming due and will promptly notify the Trustee in writing of any failure to take such action and 

  
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of any failure by the Company to make any payment of the principal of, premium (including the Fundamental Change Purchase Price or the Redemption Price in connection with an optional redemption),
if any, accrued and unpaid interest on the Notes when the same shall become due and payable. 
 (c) Anything in this
Section 9.04 to the contrary notwithstanding, the Company may, at any time, for the purpose of obtaining a satisfaction and discharge of this Indenture, or for any other reason, pay or cause to be paid to the Trustee all sums held in
trust by the Company or any Paying Agent hereunder as required by this Section 9.04, such sums to be held by the Trustee upon the trusts herein contained, and upon such payment by the Company or any Paying Agent to the Trustee, the
Company or such Paying Agent shall be released from all further liability with respect to such sums. 
 (d) Any money deposited with the
Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or premium (including the Fundamental Change Purchase Price or the Redemption Price in connection with an optional redemption), if any, or accrued
and unpaid interest on any Note and remaining unclaimed for two years after such principal, premium (including the Fundamental Change Purchase Price or the Redemption Price in connection with an optional redemption) or interest has become due and
payable shall be paid to the Company on request of the Company contained in an Officers’ Certificate, or (if then held by the Company) shall be discharged from such trust; and the holder of such Note shall thereafter, as an unsecured general
creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however,
that the Trustee or such Paying Agent, before being required to make any such repayment, shall at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and
of general circulation in The City of New York, New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money
then remaining will be repaid to the Company. 
 SECTION 9.05. Existence. Subject to Article 6, 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 9.06. Reports by the
Company. (a) The Company shall deliver to the Trustee within 15 days after the same is required to be filed with the Commission, copies of the quarterly and annual reports and of the information, documents and other reports, if any, that
the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act (giving effect to any grace period provided by Rule 12b-25 under the Exchange Act). Any quarterly or annual report or other information,
document or other report that the Company files with the Commission pursuant to Section 13 or 15(d) of the Exchange Act on the Commission’s EDGAR system shall be deemed to constitute delivery of such filing to the Trustee as of the time
such documents are filed with EDGAR. 

  
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 (b) Delivery of the reports, information and documents described in clause (a) above to the
Trustee is for informational purposes only, and the Trustee does not have the duty to review such information, documents or reports, is not considered to have notice of the content of such information, documents or reports and does not have a duty
to verify the accuracy of such information, documents or reports. 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). 

(c) At any time the Company is not subject to Section 13 or 15(d) of the Exchange Act, the Company shall, so long as any of the Notes or
any shares of Common Stock issuable upon conversion thereof shall, at such time, constitute “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, promptly provide to the Trustee and shall, upon written
request, provide to any Holder, beneficial owner or prospective purchaser of such Notes or any shares of Common Stock issuable upon conversion of such Notes, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities
Act to facilitate the resale of such Notes or shares of Common Stock pursuant to Rule 144A. The Company shall take such further action as any Holder or beneficial owner of such Notes or such Common Stock may reasonably request to the extent from
time to time required to enable such Holder or beneficial owner to sell such Notes or shares of Common Stock in accordance with Rule 144A, as such rule may be amended from time to time 

SECTION 9.07. 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 that would prohibit or forgive the Company from paying all or any portion of the principal of or interest
on the Notes as contemplated herein, wherever enacted, now or at any time hereafter in force, or that 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. 
 SECTION 9.08. Compliance Certificate; Statements as to Defaults. The Company shall deliver to the
Trustee, (i) within 120 days after the end of each Fiscal Year (beginning with the Fiscal Year ending on October 31, 2014), an Officers’ Certificate indicating whether or not the signers thereof have knowledge of the occurrence of any
Event of Default under the Indenture during such fiscal year, and (ii) within 30 days after the occurrence thereof, written notice of any events that would constitute an Event of Default under the Indenture, the status of such events and the
action that the Company is taking or proposes to take in respect thereof. 
 SECTION 9.09. Further Instruments and Acts. 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. 

  
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 SECTION 9.10. Rule 144A Information. (a) If, at any time during the six-month period
beginning on, and including, the date that is six months after the last date of original issuance of the Notes, the Company fails to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or
15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than current reports on Form 8-K), or the Notes are not otherwise freely tradable by Holders other than the Company’s Affiliates
or Holders that were the Company’s Affiliates at any time during the three months preceding (as a result of restrictions pursuant to U.S. securities laws or the terms of this Indenture or the Notes), the Company shall pay Additional Interest on
the Notes. In such circumstances, for the first 90 days, Additional Interest shall accrue on the Notes at the rate of 0.25% per annum and for the remaining period at a rate of 0.50% per annum, in each case, of the principal amount of the
Notes outstanding for each day during such period for which the Company’s failure to file has occurred and is continuing or the Notes are not otherwise freely tradable by Holders other than the Company’s Affiliates (or Holders that have
been the Company’s Affiliates at any time during the three months preceding) without restrictions pursuant to U.S. securities laws or the terms of this Indenture or the Notes. As used in this Section 9.10(a), documents or reports
that the Company is required to “file” with the Commission pursuant to Section 13 or 15(d) of the Exchange Act does not include documents or reports that the Company furnishes to the Commission pursuant to Section 13 or 15(d) of
the Exchange Act. 
 (b) If, and for so long as, the restrictive legend on the Notes specified in Section 2.04(a) has not been
removed (or deemed removed pursuant to this Indenture), the Notes are assigned a restricted CUSIP number or the Notes are not otherwise freely tradable by Holders other than the Company’s Affiliates or Holders that were the Company’s
Affiliates at any time during the three months preceding as of the 370th day after the last date of original issuance of the Notes, the Company shall pay Additional Interest on the Notes at a rate equal to (i) 0.25% per annum of the
principal amount of Notes outstanding for the first 90 days and (ii) 0.50% per annum of the principal amount of Notes outstanding following the first 90 days and, in the case of both clauses (i) and (ii), until the restrictive legend
on the Notes has been removed in accordance with Section 2.05(c), the Notes are assigned an unrestricted CUSIP and the Notes are freely tradable by Holders other than the Company’s Affiliates (or Holders that were the Company’s
Affiliates at any time during the three months preceding) (without restrictions pursuant to U.S. securities laws or the terms of this Indenture or the Notes). 

(c) Additional Interest will be payable in arrears on each Interest Payment Date following accrual in the same manner as regular interest on
the Notes. 
 (d) Notwithstanding anything herein to the contrary, at no time shall the Company be required to pay both the Additional
Interest that is payable in accordance with Section 9.10(a) or Section 9.10(b) and any Additional Interest that may be payable as a result of the Company’s election pursuant to Section 5.02. 

  
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 (e) If Additional Interest is payable by the Company pursuant to Section 9.10(a) or
Section 9.10(b), the Company shall deliver to the Trustee and the Paying Agent an Officer’s Certificate to that effect stating (i) the amount of such Additional Interest that is payable and (ii) the date on which such
Additional Interest is payable. Unless and until a Responsible Officer of the Trustee receives at the Corporate Trust Office such a certificate, the Trustee may assume without inquiry that no such Additional Interest is payable. If the Company has
paid Additional Interest directly to the Persons entitled to it, the Company shall promptly deliver to the Trustee an Officer’s Certificate setting forth the particulars of such payment. 

ARTICLE 10 
 LISTS OF
NOTEHOLDERS AND REPORTS BY THE COMPANY AND THE TRUSTEE 
 SECTION 10.01. Lists of Noteholders. The Company covenants and agrees
that it will furnish or cause to be furnished to the Trustee and the Paying Agent, semi-annually, not more than fifteen days after each January 15 and July 15 in each year, beginning with July 15, 2014, and at such other times as the
Trustee and the Paying Agent may request in writing, within 30 days after receipt by the Company of any such request (or such lesser time as the Trustee and the Paying Agent may reasonably request in order to enable it to timely provide any
notice to be provided by it hereunder), a list in such form as the Trustee and the Paying Agent may reasonably require of the names and addresses of the Noteholders as of a date not more than fifteen days (or such other date as the Trustee and the
Paying Agent may reasonably request in order to so provide any such notices) prior to the time such information is furnished, except that no such list need be furnished so long as the Trustee is acting as Note Registrar. 

SECTION 10.02. Preservation and Disclosure of Lists. The Trustee and the Paying Agent shall preserve, in as current a form as is
reasonably practicable, all information as to the names and addresses of the Noteholders contained in the most recent list furnished to it as provided in Section 10.01 or maintained the Note Registrar. The Trustee and the Paying Agent
may destroy any list furnished to it as provided in Section 10.01 upon receipt of a new list so furnished. 
 SECTION 10.03.
[Reserved].  
 ARTICLE 11 

CONCERNING THE TRUSTEE 

SECTION 11.01. Duties and Responsibilities of Trustee. The Trustee, except during the occurrence of an Event of Default, undertakes to
perform such duties and only such duties as are specifically set forth in this Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee. In case an Event of Default has occurred (which has not been
cured or waived) the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same 

  
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degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. The Trustee will be under no
obligation to exercise any of the rights or powers under this Indenture at the request or direction of any of the holders unless such holders have offered to the Trustee indemnity or security satisfactory to it against the costs, expenses and
liabilities that might be incurred by it in compliance with such request or direction. 
 No provision of this Indenture shall be construed
to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own intentional misconduct, except that: 

(a) prior to the occurrence of an Event of Default and after the curing or waiving of all Events of Default that may have
occurred: 
 (i) the duties and obligations of the Trustee shall be determined solely by the express provisions of this
Indenture and the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee;
and 
 (ii) in the absence of intentional misconduct on the part of the Trustee, the Trustee may conclusively rely, as to the
truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but, in the case of any such certificates or opinions
that by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture (but need not confirm or
investigate the accuracy of any mathematical calculations or other facts stated therein); 
 (b) the Trustee shall not be
liable for any error of judgment made in good faith by a Responsible Officer or Officers of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 

(c) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance
with the direction of the holders of not less than a majority in principal amount of the Notes at the time outstanding determined as provided in Section 12.04 (or in the case of acceleration of the debt pursuant to
Section 5.03 of this Indenture, 25% in aggregate principal amount of the Notes outstanding at the time) relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust
or power conferred upon the Trustee, under this Indenture; 
 (d) whether or not therein provided, every provision of this
Indenture relating to the conduct or affecting the liability of, or affording protection to, the Trustee shall be subject to the provisions of this Section; 

  
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 (e) the Trustee shall not be liable in respect of any payment (as to the
correctness of amount, entitlement to receive or any other matters relating to payment) or notice effected by the Company or any Paying Agent or any records maintained by any co-registrar with respect to the Notes; 

(f) if any party fails to deliver a notice relating to an event the fact of which, pursuant to this Indenture, requires notice
to be sent to the Trustee, the Trustee may conclusively rely on its failure to receive such notice as reason to act as if no such event occurred, unless such Responsible Officer of the Trustee had actual written knowledge of such event; 

(g) in the absence of written investment direction from the Company, all cash received by the Trustee shall be placed in a
non-interest bearing trust account, and in no event shall the Trustee be liable for the selection of investments or for investment losses incurred thereon or for losses incurred as a result of the liquidation of any such investment prior to its
maturity date or the failure of the party directing such investments prior to its maturity date or the failure of the party directing such investment to provide timely written investment direction, and the Trustee shall have no obligation to invest
or reinvest any amounts held hereunder in the absence of such written investment direction from the Company; 
 (h) in the
event that the Trustee is also acting as Custodian, Note Registrar, Paying Agent, Conversion Agent, Transfer Agent or engages an agent, custodian or other Person to act on its behalf hereunder, the rights and protections afforded to the Trustee
pursuant to this Article 11 shall also be afforded to such Custodian, Note Registrar, Paying Agent, Conversion Agent, Transfer agent, agent, custodian or other Person as applicable; 

(i) the Trustee shall not have a duty to see to the payment or discharge of any tax, assessment, or other governmental charge
or any lien or encumbrance of any kind; 
 (j) the Trustee shall not be required to give any bond or surety in respect of the
powers granted hereunder; 
 (k) none of the provisions contained in this Indenture shall require the Trustee to expend or
risk its own funds or otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers; 

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

  
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 (n) no provision of this Indenture shall be deemed to impose any duty or
obligation on the Trustee to take or omit to take any action, or suffer any action to be taken or omitted, in the performance of its duties or obligations, or the exercise any right or power, to the extent that taking or omitting to take such action
or suffering such action to be taken or omitted would violate applicable law binding upon it (which determination may be based on the advice or opinion of counsel). 

SECTION 11.02. Reliance on Documents, Opinions, Etc. Except as otherwise provided in Section 11.01: 

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

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

 (c) the Trustee may consult with counsel of its selection and require an Opinion of Counsel and any advice of such counsel
or Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or omitted by it hereunder in good faith and in accordance with such advice or Opinion of Counsel; 

(d) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the
request, order or direction of any of the Noteholders pursuant to the provisions of this Indenture, unless such Noteholders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities that
may be incurred therein or thereby; 
 (e) the Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document, but the Trustee may make such further inquiry or investigation into such facts or
matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company at reasonable times, in a reasonable manner and upon
reasonable advance notice, personally or by agent or attorney at the expense of the Company and shall incur no liability of any kind by reason of such inquiry or investigation; 

(f) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or
through agents, custodians, 

  
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nominees or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent, custodian, nominee or attorney appointed by it with due care hereunder;

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

(h) the Trustee shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and reasonably
believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture. 
 In no event shall the
Trustee be liable for any consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The
Trustee shall not be charged with knowledge of any Default or Event of Default, except (1) any Default or Event of Default of which a Responsible Officer shall have actual knowledge or (2) any Default or Event of Default of which written
notice shall have been received by the Trustee at the Corporate Trust Office by the Company or by any holder of the Notes during any period it is serving as Note Registrar and Paying Agent for the Notes and such notice references the Notes and the
Indenture, any Event of Default occurring pursuant to Sections 5.01(a), 5.01(b), 5.01(i) or 5.01(j). 
 SECTION
11.03. No Responsibility for Recitals, Etc. The recitals contained herein and in the Notes (except in the Trustee’s certificate of authentication) shall be taken as the statements of the Company, and the Trustee assumes no responsibility
for the correctness of the same. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Notes. The Trustee shall not be accountable for the use or application by the Company of any Notes or the proceeds of
any Notes authenticated and delivered by the Trustee in conformity with the provisions of this Indenture other than the Authenticating Agent’s certificate of authentication. 

SECTION 11.04. Trustee, Paying Agents, Conversion Agents or Note Registrar May Own Notes. The Trustee, any Paying Agent, any Conversion
Agent or Note Registrar, in its individual or any other capacity, may become the owner or pledgee of Notes with the same rights it would have if it were not the Trustee, Paying Agent, Conversion Agent or Note Registrar. 

SECTION 11.05. Monies to be Held in Trust. All monies received by the Trustee shall, until used or applied as herein provided, be held
in trust for the purposes for which they were received. Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money
received by it hereunder except as may be agreed in writing from time to time by the Company and the Trustee. 
 SECTION 11.06.
Compensation and Expenses of Trustee. The Company covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be 

  
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entitled to, such compensation as shall be agreed in writing between the Company and the Trustee for all services rendered by it hereunder in any capacity (which shall not be limited by any
provision of law in regard to the compensation of a trustee of an express trust), and the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances reasonably incurred or made and reasonably
documented by the Trustee in accordance with any of the provisions of this Indenture in any capacity thereunder (including the reasonable compensation and the expenses and disbursements of its agents and counsel and of all Persons not regularly in
its employ) except any such expense, disbursement or advance as shall have been caused by its gross negligence or intentional misconduct. The Company also covenants to indemnify the Trustee in any capacity under this Indenture and any other document
or transaction entered into in connection herewith and to hold it harmless against, any and all loss, claim, damage, liability or expense, including taxes (other than taxes based on the income of the Trustee), incurred without gross negligence or
intentional misconduct on the part of the Trustee and arising out of or in connection with the acceptance or administration of this trust, including the costs and expenses of defending the Trustee against any claim (whether asserted by the Company,
a Noteholder or any other Person) of liability in the premises. The obligations of the Company under this Section 11.06 to compensate or indemnify the Trustee and to pay or reimburse the Trustee for expenses, disbursements and advances
shall be secured by a senior claim to which the Notes are hereby made subordinate on all money or property held or collected by the Trustee, except, subject to the effect of Section 5.05, funds held in trust herewith for the benefit of
the holders of particular Notes. The Trustee’s right to receive payment of any amounts due under this Section 11.06 shall not be subordinate to any other liability or Indebtedness of the Company (even though the Notes may be so
subordinated). The obligations of the Company under this Section 11.06 shall survive the satisfaction and discharge of this Indenture and the earlier resignation or removal or the Trustee. The Company need not pay for any settlement made
without its consent, which consent shall not be unreasonably withheld. The indemnification provided in this Section 11.06 shall survive the termination or defeasance of this Indenture and the resignation or removal of the Trustee. The
Trustee shall notify the Company promptly of any claim of which a Responsible Officer receives written notice for which it may seek indemnity. 

Without prejudice to any other rights available to the Trustee under applicable law, when the Trustee and its agents and any authenticating
agent incur expenses or render services after an Event of Default specified in clauses (i) or (j) of Section 5.01 occurs, the expenses and the compensation for the services are intended to constitute expenses of administration
under any bankruptcy, insolvency or similar laws. 
 SECTION 11.07. Officers’ Certificate as Evidence. Except as otherwise
provided in Section 11.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or omitting any action hereunder, such
matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by an Officers’ Certificate delivered to the Trustee, and such Officers’ Certificate shall be full
warrant to the Trustee for any action taken or omitted by it under the provisions of this Indenture upon the faith thereof. 

  
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 SECTION 11.08. [Reserved]. 

SECTION 11.09. Eligibility of Trustee. There shall at all times be a Trustee hereunder that is a corporation organized and doing
business under the laws of the United States of America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a
combined capital and surplus of at least $100,000,000 as set forth in its most recent published annual report of condition. If such Person publishes reports of condition at least annually, pursuant to law or to the requirements of any supervising or
examining authority, then for the purposes of this Section, the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the
Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. 

SECTION 11.10. Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such
resignation to the Company and by mailing notice thereof to the Noteholders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written
instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have
accepted appointment within 60 days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, any
court of competent jurisdiction for the appointment of a successor trustee, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six months may, subject to the provisions of Section 5.11, on behalf of himself
and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 

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

(i) the Trustee shall fail to comply with Section 11.08 within a reasonable time after written request therefor by
the Company or by any Noteholder who has been a bona fide holder of a Note or Notes for at least six months, or 
 (ii) the
Trustee shall cease to be eligible in accordance with the provisions of Section 11.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder, or 

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

  
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 then, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a
successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of
Section 5.11, any Noteholder who has been a bona fide holder of a Note or Notes for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the
Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. 

(c) The holders of a majority in aggregate principal amount of the Notes at the time outstanding, as determined in accordance with
Section 12.04, may at any time remove the Trustee and nominate a successor trustee that shall be deemed appointed as successor trustee unless within ten days after notice to the Company of such nomination the Company objects thereto, in
which case the Trustee so removed or any Noteholder, upon the terms and conditions and otherwise as in Section 11.10(a) provided, may petition, at the expense of the Company, any court of competent jurisdiction for an appointment of a
successor trustee. 
 (d) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions
of this Section 11.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 11.11. 

SECTION 11.11. Acceptance by Successor Trustee. Any successor trustee appointed as provided in Section 11.10 shall execute,
acknowledge and deliver to the Company and to its predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee shall become effective and such successor trustee, without
any further act, deed or conveyance, shall become vested with all the rights, powers, duties and obligations of its predecessor hereunder, with like effect as if originally named as trustee herein; but, nevertheless, on the written request of the
Company or of the successor trustee, the trustee ceasing to act shall, upon payment of any amounts then due it pursuant to the provisions of Section 11.06, execute and deliver an instrument transferring to such successor trustee all the
rights and powers of the trustee so ceasing to act. 
 Upon the reasonable written request of any such successor trustee, the Company shall
execute any and all instruments in writing for more fully and certainly vesting in and confirming to such successor trustee all such rights and powers. Any trustee ceasing to act shall, nevertheless, retain a senior claim to which the Notes are
hereby made subordinate on all money or property held or collected by such trustee as such, except for funds held in trust for the benefit of holders of particular Notes, to secure any amounts then due it pursuant to the provisions of Section
11.06. 
 No successor trustee shall accept appointment as provided in this Section 11.11 unless at the time of such
acceptance such successor trustee shall be qualified under the provisions of Section 11.08 and be eligible under the provisions of Section 11.09. 

  
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 Upon acceptance of appointment by a successor trustee as provided in this
Section 11.11, each of the Company and the successor trustee, at the written direction and at the expense of the Company, shall mail or cause to be mailed notice of the succession of such trustee hereunder to the Noteholders at their
addresses as they shall appear on the Note Register. If the Company fails to mail such notice within ten days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be mailed at the expense of the
Company. 
 SECTION 11.12. Succession by Merger, Etc. Any corporation or other entity into which the Trustee may be merged or
converted or with which it may be consolidated, or any corporation or other entity resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation or other entity succeeding to all or substantially
all of the corporate trust business of the Trustee (including the administration of this Indenture), shall be the successor to the Trustee hereunder without the execution or filing of any paper or any further act on the part of any of the parties
hereto, provided that in the case of any corporation or other entity succeeding to all or substantially all of the corporate trust business of the Trustee, such corporation or other entity shall be qualified under the provisions of
Section 11.08 and eligible under the provisions of Section 11.09. 
 In case at the time such successor to the
Trustee shall succeed to the trusts created by this Indenture, any of the Notes shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor authenticating agent,
and deliver such Notes so authenticated; and in case at that time any of the Notes shall not have been authenticated, any successor to the Authenticating Agent may authenticate such Notes either in the name of any predecessor trustee hereunder or in
the name of the successor trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Notes or in this Indenture provided that the certificate of the Authenticating Agent shall have; provided,
however, that the right to adopt the certificate of authentication of any predecessor Authenticating Agent or to authenticate Notes in the name of any predecessor Authenticating Agent shall apply only to its successor or successors by merger,
conversion or consolidation. 
 SECTION 11.13. [Reserved].  

SECTION 11.14. Trustee’s Application for Instructions from the Company. Any application by the Trustee for written instructions
from the Company (other than with regard to any action proposed to be taken or omitted to be taken by the Trustee that affects the rights of the holders of the Notes under this Indenture) may, at the option of the Trustee, set forth in writing any
action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The Trustee shall not be liable for any action taken by, or omission of,
the Trustee, in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less 

  
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than three Business Days after the date any officer that the Company has indicated to the Trustee should receive such application actually receives such application, unless any such officer shall
have consented in writing to any earlier date), unless, prior to taking any such action (or the effective date in the case of any omission), the Trustee shall have received written instructions in accordance with this Indenture in response to such
application specifying the action to be taken or omitted. 
 ARTICLE 12 

CONCERNING THE NOTEHOLDERS 

SECTION 12.01. Action by Noteholders. Whenever in this Indenture it is provided that the holders of a specified percentage in aggregate
principal amount of the Notes may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action, the holders of
such specified percentage have joined therein may be evidenced (a) by any instrument or any number of instruments of similar tenor executed by Noteholders in person or by agent or proxy appointed in writing, or (b) by the record of the
Noteholders voting in favor thereof at any meeting of Noteholders, or (c) by a combination of such instrument or instruments and any such record of such a meeting of Noteholders. Whenever the Company or the Trustee solicits the taking of any
action by the holders of the Notes, the Company or the Trustee may, but shall not be required to, fix in advance of such solicitation, a date as the record date for determining Noteholders entitled to take such action. The record date if one is
selected shall be not more than fifteen days prior to the date of commencement of solicitation of such action. 
 SECTION 12.02. Proof of
Execution by Noteholders. Subject to the provisions of Section 11.01 and Section 11.02, proof of the execution of any instrument by a Noteholder or its agent or proxy shall be sufficient if made in accordance with such
reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee. The holding of Notes shall be proved by the Note Register or by a certificate of the Note Registrar. 

SECTION 12.03. Who Are Deemed Absolute Owners. The Company, the Trustee, any authenticating agent, any Paying Agent, any Conversion
Agent and any Note Registrar may deem the Person in whose name a Note shall be registered upon the Note Register to be, and may treat it as, the absolute owner of such Note (whether or not such Note shall be overdue and notwithstanding any notation
of ownership or other writing thereon made by any Person other than the Company or any Note Registrar) for the purpose of receiving payment of or on account of the principal of, premium, if any, and (subject to Section 2.03) accrued and
unpaid interest on such Note, for conversion of such Note and for all other purposes; and neither the Company nor the Trustee nor any Paying Agent nor any Conversion Agent nor any Note Registrar shall be affected by any notice to the contrary. All
such payments so made to any holder for the time being, or upon its order, shall be valid and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for monies payable upon any such Note. Notwithstanding anything
to the contrary in this Indenture or the Notes following an 

  
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Event of Default, any holder of a beneficial interest in a Global Note may directly enforce against the Company, without the consent, solicitation, proxy, authorization or any other action of the
Depositary or any other Person, such holder’s right to exchange such beneficial interest for a Note in certificated form in accordance with the provisions of this Indenture. 

SECTION 12.04. Company-Owned Notes Disregarded. In determining whether the holders of the requisite aggregate principal amount of Notes
have concurred in any direction, consent, waiver or other action under this Indenture, Notes that are owned by the Company or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the
Company shall be disregarded and deemed not to be outstanding for the purpose of any such determination; provided that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, consent, waiver or
other action only Notes that a Responsible Officer actually knows are so owned shall be so disregarded. Notes so owned that have been pledged in good faith may be regarded as outstanding for the purposes of this Section 12.04 if the
pledgee shall establish to the satisfaction of the Trustee the pledgee’s right to so act with respect to such Notes and that the pledgee is not the Company or a Person directly or indirectly controlling or controlled by or under direct or
indirect common control with the Company. In the case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee. Upon request of the Trustee, the Company shall furnish to the
Trustee promptly an Officers’ Certificate listing and identifying all Notes, if any, known by the Company to be owned or held by or for the account of any of the above described Persons; and, subject to Section 11.01, the Trustee
shall be entitled to accept such Officers’ Certificate as conclusive evidence of the facts therein set forth and of the fact that all Notes not listed therein are outstanding for the purpose of any such determination. 

SECTION 12.05. Revocation of Consents; Future Noteholders Bound. At any time prior to (but not after) the evidencing to the Trustee, as
provided in Section 12.01, of the taking of any action by the holders of the percentage in aggregate principal amount of the Notes specified in this Indenture in connection with such action, any holder of a Note that is shown by the
evidence to be included in the Notes the holders of which have consented to such action may, by filing written notice with the Trustee at the Corporate Trust Office and upon proof of holding as provided in Section 12.02, revoke such
action so far as concerns such Note. Except as aforesaid, any such action taken by the holder of any Note shall be conclusive and binding upon such holder and upon all future holders and owners of such Note and of any Notes issued in exchange or
substitution therefor or upon registration of transfer thereof, irrespective of whether any notation in regard thereto is made upon such Note or any Note issued in exchange or substitution therefor or upon registration of transfer thereof. 

  
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 ARTICLE 13 

SATISFACTION AND DISCHARGE 

SECTION 13.01. Satisfaction and Discharge of the Indenture. When (i) the Company shall deliver to the Note Registrar for
cancellation all Notes theretofore authenticated (other than any Notes that have been destroyed, lost or stolen and in lieu of or in substitution for which other Notes shall have been authenticated and delivered) and not theretofore canceled, or
(ii) all the Notes not theretofore canceled or delivered to the Paying Agent for cancellation shall have become due and payable (whether at Stated Maturity for the payment of the principal amount thereof or on any Fundamental Change Purchase
Date, optional redemption or upon conversion or otherwise or will become due and payable, due to the writing of a Redemption Notice or otherwise, in one year) and the Company shall deposit with the Paying Agent, in trust, or deliver to the Holders,
as applicable, cash funds and/or (in the case of conversion) shares of Common Stock (subject to the Company’s right to pay cash in lieu thereof), as applicable, sufficient to pay all amounts due or deliverable on all of such Notes (other than
any Notes that shall have been mutilated, destroyed, lost or stolen and in lieu of or in substitution for which other Notes shall have been authenticated and delivered) not theretofore canceled or delivered to the Paying Agent for cancellation,
including principal and interest due, accompanied, except in the event the Notes are due and payable solely in cash at the Stated Maturity of the Notes or upon an earlier Fundamental Change Purchase Date or upon an optional redemption, by a
verification report as to the sufficiency of the deposited amount from an independent certified accountant or other financial professional reasonably satisfactory to the Paying Agent (which may include any of the Initial Purchasers), and if the
Company shall also pay or cause to be paid all other sums payable hereunder by the Company, then this Indenture shall cease to be of further effect (except as to (A) rights hereunder of Holders of the Notes to receive all amounts owing upon the
Notes and the other rights, duties and obligations of Holders of the Notes, as beneficiaries hereof with respect to the amounts, if any, so deposited with the Paying Agent and (B) the rights, obligations and immunities of the Paying Agent
hereunder), and the Paying Agent, on written demand of the Company accompanied by an Officers’ Certificate and an Opinion of Counsel and at the cost and expense of the Company, shall execute proper instruments acknowledging satisfaction and
discharge of this Indenture; the Company, however, hereby agrees to reimburse the Paying Agent for any costs or expenses thereafter reasonably and properly incurred by the Paying Agent, including the fees and expenses of its counsel, and to
compensate the Paying Agent for any services thereafter reasonably and properly rendered by the Paying Agent in connection with this Indenture or the Notes. Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the
Company to the Paying Agent under Section 11.06 shall survive. 
 SECTION 13.02. Deposit of Monies to be Held in Trust by
Trustee. Subject to Section 13.04, all monies deposited with the Paying Agent pursuant to Section 13.01 shall be held in trust for the sole benefit of the Holders of the Notes, and such monies shall be applied by the
Paying Agent to the payment to the Holders of the particular Notes for the payment or redemption of which such monies have been deposited with the Paying Agent, of all sums due and to become due thereon for principal and interest, if any. 

  
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 SECTION 13.03. Paying Agent to Repay Monies Held. Upon the satisfaction and discharge of
this Indenture, all monies then held by the Paying Agent shall, upon written request of the Company, be repaid to it, and thereupon such Paying Agent shall be released from all further liability with respect to such monies. 

SECTION 13.04. Return of Unclaimed Monies. Subject to the requirements of applicable law, any monies deposited with or paid to the
Paying Agent for payment of the principal of or interest, if any, on the Notes and not applied but remaining unclaimed by the Holders of the Notes for two years after the date upon which the principal of or interest, if any, on such Notes, as the
case may be, shall have become due and payable, shall be repaid to the Company by the Paying Agent on demand, and all liability of the Paying Agent shall thereupon cease with respect to such monies; and the Holder of any of the Notes shall
thereafter look only to the Company for any payment that such Holder of the Notes may be entitled to collect unless an applicable abandoned property law designates another Person. 

SECTION 13.05. Reinstatement. If the Paying Agent is unable to apply any money in accordance with Section 13.02 by reason
of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s obligations under the Indenture and the Notes shall be revived and reinstated as though no deposit
had occurred pursuant to Section 13.01 until such time as the Paying Agent is permitted to apply all such money in accordance with Section 13.02; provided, however, that if the Company makes any payment of interest on
or principal of any Note following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Paying Agent. 

ARTICLE 14 

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

SECTION 14.02. Official Acts by Successor Corporation. Any act or proceeding by any provision of this Indenture authorized or required
to be done or performed by any board, committee or officer of the Company shall and may be done and performed with like force and effect by the like board, committee or officer of any corporation or other entity that shall at the time be the lawful
successor of the Company. 
 SECTION 14.03. Addresses for Notices, Etc. Any notice or demand that by any provision of this Indenture
is required or permitted to be given or served by the Trustee or by the Noteholders on the Company shall be deemed to have been sufficiently 

  
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given or made, for all purposes if given or served by being deposited postage prepaid by registered or certified mail in a post office letter box addressed (until another address is filed by the
Company with the Trustee) to Navistar International Corporation, 4201 Winfield Road, Warrenville, IL 60555, Attention: Vice President and Treasurer with a copy to Kirkland & Ellis LLP, 300 North LaSalle Street, Chicago, IL 60654, Attention:
Dennis Myers. Any notice, direction, request or demand hereunder to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or served by a facsimile transmission or by being deposited postage prepaid
by registered or certified mail in a post office letter box addressed to the Corporate Trust Office. Any notice, direction, request or demand hereunder to or upon the Note Registrar, Paying Agent, Transfer Agent, Authenticating Agent or Conversion
Agent shall be deemed to have been sufficiently given or made, for all purposes, if given or served by a facsimile transmission or by being deposited postage prepaid by registered or certified mail in a post office letter box addressed to the
Corporate Trust Office. 
 The Trustee, by notice to the Company, may designate additional or different addresses for subsequent notices or
communications. 
 Any notice or communication mailed to a Noteholder shall be mailed to it by first class mail, postage prepaid, at its
address as it appears on the Note Register and shall be sufficiently given to it if so mailed within the time prescribed. 
 Failure to mail
a notice or communication to a Noteholder or any defect in it shall not affect its sufficiency with respect to other Noteholders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee
receives it. 
 In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to
give such notice to holders by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. 

Notwithstanding any other provision of this Indenture or any Note, whenever notice is required to be given to a holder of a Global Note, such
notice shall be sufficiently given if given to the Depositary for such Note (or its designee), pursuant to customary procedures of such Depositary. 

The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, pdf, facsimile
transmission or other similar unsecured electronic methods, provided, however, that the Trustee shall have received an incumbency certificate listing persons designated to give such instructions or directions and containing specimen signatures of
such designated persons, which such incumbency certificate shall be amended and replaced whenever a person is to be added or deleted from the listing. If the Company elects to give the Trustee e-mail or facsimile instructions (or instructions by a
similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such instructions shall be deemed controlling. The Trustee shall not be liable for any losses,

  
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costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a
subsequent written instruction. The Company agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation the risk of the Trustee acting on
unauthorized instructions, and the risk or interception and misuse by third parties. 
 SECTION 14.04. Governing Law. THIS INDENTURE
AND EACH OF THE NOTES SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 14.05. Evidence of Compliance with Conditions
Precedent; Certificates and Opinions of Counsel to Trustee. (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: 

(i) an Officers’ Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided for
in this Indenture relating to the proposed action have been complied with; and 
 (ii) an Opinion of Counsel stating that, in
the opinion of such counsel, all such conditions precedent have been complied with. 
 (b) Each certificate or opinion with respect to
compliance with a condition or covenant provided for in this Indenture shall include: 
 (i) a statement that each person
signing such certificate or opinion has read such covenant or condition and the definitions herein relating thereto; 
 (ii)
a brief statement as to the nature and scope of the examination or investigation upon which the statement or opinion contained in such certificate or opinion is based; 

(iii) a statement that, in the opinion of each such person, the person has made such examination or investigation as is
necessary to enable the person 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 each 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. 

Notwithstanding anything to the contrary in this Section 14.05, if any provision in this Indenture specifically provides that
the Trustee shall or may receive an Opinion of Counsel in connection with any action to be taken by the Trustee or the Company hereunder, the Trustee shall be entitled to such Opinion of Counsel. 

  
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 SECTION 14.06. Payments on Business Days. If any Interest Payment Date or the Stated
Maturity of the Notes or any earlier required repurchase date would fall on a day that is not a Business Day, the required payment shall be made on the next succeeding Business Day and no interest on such payment shall accrue in respect of the
delay. 
 SECTION 14.07. No Security Interest Created. Nothing in this Indenture or in the Notes, expressed or implied, shall be
construed to constitute a security interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any jurisdiction. 

SECTION 14.08. [Reserved]. 

SECTION 14.09. Benefits of Indenture. Nothing in this Indenture or in the Notes, expressed or implied, shall give to any Person, other
than the parties hereto, any Paying Agent, any Conversion Agent, any Bid Solicitation Agent, any authenticating agent, any Note Registrar and their successors hereunder or the Holders of the Notes, any benefit or any legal or equitable right, remedy
or claim under this Indenture. 
 SECTION 14.10. Authenticating Agent. The Trustee may appoint an authenticating agent (together with
its successors, assigns and validly appointed replacements, the “Authenticating Agent”) that shall be authorized to act on its behalf and subject to its direction in the authentication and delivery of Notes in connection with the
original issuance thereof and transfers and exchanges of Notes hereunder, including under Section 2.05, Section 2.06, Section 2.07, Section 2.08, Section 3.04 and Section 7.04
as fully to all intents and purposes as though the authenticating agent had been expressly authorized by this Indenture and those Sections to authenticate and deliver Notes. For all purposes of this Indenture, the authentication and delivery of
Notes by any Authenticating Agent shall be deemed to be authentication and delivery of such Notes “by the Trustee” and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent shall be deemed to satisfy
any requirement hereunder or in the Notes for the Trustee’s certificate of authentication. Such authenticating agent shall at all times be a Person eligible to serve as trustee hereunder pursuant to Section 11.09. 

Any corporation or other entity into which any authenticating agent may be merged or converted or with which it may be consolidated, or any
corporation or other entity resulting from any merger, consolidation or conversion to which any authenticating agent shall be a party, or any corporation or other entity succeeding to all or substantially all the corporate trust business of any
authenticating agent, shall be the successor of the authenticating agent hereunder, if such successor corporation or other entity is otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part
of the parties hereto or the authenticating agent or such successor corporation or other entity. 
 Any authenticating agent may at any time
resign by giving written notice of resignation to the Trustee and to the Company. The Trustee may at any time terminate the agency of any authenticating agent by giving written notice of termination to such

  
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authenticating agent and to the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time any authenticating agent shall cease to be eligible under
this Section, the Trustee may appoint a successor authenticating agent, shall give written notice of such appointment to the Company and shall mail notice of such appointment to all Noteholders as the names and addresses of such holders appear on
the Note Register. 
 The Company agrees to pay to the authenticating agent from time to time reasonable compensation for its services
although the Company may terminate the authenticating agent, if it determines such agent’s fees to be unreasonable. 
 The provisions
of Section 11.02, Section 11.03, Section 11.04, Section 12.03 and this Section 14.10 shall be applicable to any authenticating agent. 

SECTION 14.11. Calculations. The Company shall be responsible for making all calculations called for under the Notes. These
calculations include, but are not limited to, determinations of any Last Reported Sale Price of the Common Stock, the Daily VWAP, accrued interest payable on the Notes and the Conversion Rate. The Company shall make all these calculations in good
faith and, absent manifest error, the Company’s calculations shall be final and binding on Holders of Notes. The Company shall provide a schedule of its calculations to each of the Trustee and the Conversion Agent (if different than the
Trustee), and each of the Trustee and Conversion Agent (if different than the Trustee) is entitled to rely conclusively upon the accuracy of the Company’s calculations without independent verification. The Trustee or the Paying Agent will
forward the Company’s calculations to any Holder of Notes upon the request of that Holder at the sole cost and expense of the Company. 

SECTION 14.12. Rules by Trustee, Paying Agent and Note Registrar. The Trustee may make reasonable rules for action by, or a
meeting of, Holders. The Note Registrar and the Paying Agent may make reasonable rules for their functions. 
 SECTION 14.13. Table of
Contents, Headings, Etc. The table of contents and the titles and headings of the articles and sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or
restrict any of the terms or provisions hereof. 
 SECTION 14.14. Execution in Counterparts. This Indenture may be executed in any
number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument. 

SECTION 14.15. Severability. In the event any provision of this Indenture or in the Notes shall be invalid, illegal or unenforceable,
then (to the extent permitted by law) the validity, legality or enforceability of the remaining provisions shall not in any way be affected or impaired. 

SECTION 14.16. No Recourse Against Others. No director, officer, employee, stockholder, incorporator or agent of the Company will 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. Each Holder of the Notes by accepting a Note waives and releases all such
liability. 

  
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 SECTION 14.17. 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 NOTES OR THE TRANSACTION CONTEMPLATED HEREBY. 

SECTION 14.18. Force Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its
obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts that are consistent with accepted
practices in the banking industry to resume performance as soon as practicable under the circumstances. 
 ARTICLE 15 

REDEMPTION 
 SECTION
15.01. Right to Redeem. The Notes shall not be redeemable before April 20, 2017, and no sinking fund is provided for the Notes. On or after such date, the Company shall be entitled to redeem the Notes at its option, in whole or in part,
provided that the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending within 10 trading days immediately prior to the date of
the Redemption Notice exceeds 130% of the applicable Conversion Price for the Notes on each applicable trading day. The redemption price for the Notes to be redeemed on any Redemption Date (the “Redemption Price”) will equal
(a) 100% of the principal amount of the Notes being redeemed plus (b) accrued and unpaid interest (including additional interest), if any, to, but excluding, the Redemption Date, unless the Redemption Date falls after a record date but on
or prior to the immediately succeeding interest payment date, in which case the Company shall instead pay the full amount of accrued and unpaid interest, including any additional interest, to the Holder of record as of the close of business on such
record date. If Notes are redeemed on a date that is after a Regular Record Date for the payment of interest and on or prior to the corresponding Interest Payment Date, accrued and unpaid interest will not be paid to the Holder of Notes being
redeemed, and instead the full amount of the relevant interest payment will be paid on such interest payment date to the Holder of record on such Regular Record Date. 

SECTION 15.02. Notices to Paying Agent. If the Company elects to redeem Notes pursuant to the optional redemption provisions of the
Notes, it shall notify the Paying Agent in writing of the Redemption Date, the principal amount of Notes to be redeemed and the paragraph of the Notes pursuant to which the redemption will occur. 

  
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 The Company shall give each notice to the Paying Agent provided for in this Section at least 30
days before the Redemption Date unless the Paying Agent consents to a shorter period; provided, however, that if the Company mails a Redemption Notice to Holders more than 30 days prior to the Redemption Date, in accordance with
Section 15.05 hereto, the Company shall immediately give notice to the Paying Agent. Such notice shall be accompanied by an Officers’ Certificate and an Opinion of Counsel from the Company to the effect that such redemption will
comply with the conditions herein. 
 SECTION 15.03. Selection of Notes to Be Redeemed. In the event that the Company chooses to
redeem less than all of the Notes at any time, selection of the Notes for redemption shall be made by the Paying Agent by lot or by such method as the Paying Agent shall deem fair and appropriate in accordance with DTC procedures. The Paying Agent
shall make the selection from outstanding Notes not previously called for redemption. Notes and portions of them the Paying Agent selects shall be in principal amounts of $1,000 or multiples of $1,000. Provisions of this Indenture that apply to
Notes called for redemption also apply to portions of Notes called for redemption. The Paying Agent shall notify the Company promptly of the Notes or portions of Notes to be redeemed. 

SECTION 15.04. Notice of Redemption. At least 30 days but not more than 60 days before a date for redemption of Notes, the Company
shall mail a notice of redemption (a “Redemption Notice”) by first-class mail to each Holder of Notes to be redeemed at such Holder’s registered address, except that Redemption Notices may be mailed more than 60 days prior to
the Redemption Date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of this Indenture. Any inadvertent defect in the Redemption Notice, including an inadvertent failure to give notice, to any
Holder selected for redemption shall not impair or affect the validity of the redemption of any other Note redeemed in accordance with provisions of this Indenture. Simultaneously with providing such Redemption Notice, the Company shall issue a
press release or publish a notice containing the information included therein or shall publish such information on the Company’s website or through such other public medium as the Company may use at such time. 

The notice shall identify the Notes to be redeemed and shall state: 

(i) the Redemption Date; 

(ii) the Redemption Price; 

(iii) the name and address of the Paying Agent; 

(iv) that Notes called for redemption must be surrendered to the Paying Agent to collect the Redemption Price; 

  
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 (v) if fewer than all the outstanding Notes are to be redeemed, the
identification and principal amounts of the particular Notes to be redeemed; 
 (vi) that, unless the Company defaults in
making such redemption payment, interest on Notes (or portion thereof) called for redemption ceases to accrue on and after the Redemption Date; 

(vii) the “CUSIP” number, ISIN or “Common Code” number, if any, printed on the Notes being redeemed; 

(viii) that no representation is made as to the correctness or accuracy of the “CUSIP” number, ISIN, or “Common
Code” number, if any, listed in such notice or printed on the Notes; 
 (ix) that such Holder has a right to convert the
Notes called for redemption upon satisfaction of the requirements therefor set in the Indenture, and the conversion rate applicable to such conversion; and 

(x) the time at which such Holders’ right to convert the Notes called for redemption will expire, which will be the close
of business on the Business Day immediately preceding the Redemption Date. 
 At the Company’s request, the Paying Agent shall give the
Redemption Notice in the Company’s name and at the Company’s expense. In such event, the Company shall provide the Paying Agent with the information required by this Section. 

SECTION 15.05. Effect of Redemption Notice. Once a Redemption Notice is mailed, Notes called for redemption become due and payable on
the Redemption Date and at the Redemption Price stated in the Redemption Notice. Upon surrender to the Paying Agent, such Notes shall be paid at the Redemption Price stated in the Redemption Notice, plus accrued interest to the Redemption Date
(subject to the right of Holders of record on the relevant record date to receive interest due on the related interest payment date), and such Notes shall be canceled by the Paying Agent. Failure to give notice or any defect in the notice to any
Holder shall not affect the validity of the notice to any other Holder. 
 SECTION 15.06. Deposit of Redemption Price. Prior to the
Redemption Date, the Company shall deposit with the Paying Agent (or, if the Company or a Subsidiary is the Paying Agent, shall segregate and hold in trust) money sufficient to pay the Redemption Price of and accrued interest on all Notes to be
redeemed on that date other than Notes or portions of Notes called for redemption which have been delivered by the Company to the Paying Agent for cancellation. 

SECTION 15.07. Notes Redeemed in Part. Upon surrender of a Note that is redeemed in part, the Company shall execute and the
Authenticating Agent shall authenticate for the Holder (at the Company’s expense) a new Note equal in principal amount to the unredeemed portion of the Note surrendered. 

  
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 SECTION 15.08. Effect of Redemptions in Part. In the event of any redemption in part, the
Company shall not be required to (i) issue, register the transfer of or exchange any notes during a period beginning at the open of business 15 days before the mailing of a Redemption Notice and ending at the close of business on the earliest
date on which the relevant Redemption Notice is deemed to have been given to all Holders of Notes to be redeemed or (ii) register the transfer of or exchange any Notes so selected for redemption, in whole or in part, except the unredeemed
portion of any Notes being redeemed in part. 
 SECTION 15.09. Conditions to Redemption. No Notes may be redeemed if the principal
amount of the Notes has been accelerated, and such acceleration has not been rescinded, on or prior to the Redemption Date (except in the case of an acceleration resulting from a default by us in the payment of the applicable Redemption Price with
respect to such Notes). 
 [Remainder of the page intentionally left blank] 

  
 95 

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

					
	NAVISTAR INTERNATIONAL CORPORATION
		
	By:	 	 /s/ James M. Moran

		 	Name:	 	James M. Moran
		 	Title:	 	Senior Vice President and
		 		 	Treasurer

 [Navistar Indenture Signature Page] 

 
					
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:	 	 Lawrence M. Kusch

		 	Name:	 	Lawrence M. Kusch
		 	Title:	 	Authorized Signatory

 [Navistar Indenture Signature Page] 

 SCHEDULE A 

The following table sets forth the amount, if any, by which the Conversion Rate per $1,000 principal amount of Notes will increase pursuant to
Section 4.06 of this Indenture for each Stock Price and Effective Date set forth below: 
  

 

																																													
	 Effective Date
	  	$34.33	 	  	$40.00	 	  	$45.00	 	  	$50.00	 	  	$60.00	 	  	$75.00	 	  	$100.00	 	  	$125.00	 	  	$150.00	 	  	$200.00	 	  	$250.00	 
	 March 24, 2014
	  	 	10.6344	  	  	 	8.9887	  	  	 	7.4135	  	  	 	6.2282	  	  	 	4.5949	  	  	 	3.1633	  	  	 	1.9644	  	  	 	1.3665	  	  	 	1.0190	  	  	 	0.6392	  	  	 	0.4380	  
	 April 15, 2015
	  	 	10.6344	  	  	 	8.8509	  	  	 	7.1888	  	  	 	5.9506	  	  	 	4.2722	  	  	 	2.8440	  	  	 	1.7016	  	  	 	1.1607	  	  	 	0.8581	  	  	 	0.5373	  	  	 	0.3702	  
	 April 15, 2016
	  	 	10.6344	  	  	 	8.4959	  	  	 	6.7345	  	  	 	5.4555	  	  	 	3.7495	  	  	 	2.3605	  	  	 	1.3268	  	  	 	0.8774	  	  	 	0.6408	  	  	 	0.4009	  	  	 	0.2782	  
	 April 15, 2017
	  	 	10.6344	  	  	 	7.9412	  	  	 	6.0764	  	  	 	4.7315	  	  	 	3.0120	  	  	 	1.7115	  	  	 	0.8607	  	  	 	0.5446	  	  	 	0.3948	  	  	 	0.2510	  	  	 	0.1770	  
	 April 15, 2018
	  	 	10.6344	  	  	 	7.1327	  	  	 	5.0804	  	  	 	3.6431	  	  	 	1.9276	  	  	 	0.8293	  	  	 	0.3124	  	  	 	0.1880	  	  	 	0.1404	  	  	 	0.0939	  	  	 	0.0676	  
	 April 15, 2019
	  	 	10.6344	  	  	 	6.4556	  	  	 	3.7044	  	  	 	1.6611	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  

 EXHIBIT A 

[FORM OF FACE OF GLOBAL NOTE] 
 THIS NOTE IS A
GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. THIS NOTE IS EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR
ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE 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) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES. 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR
IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE
HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

THIS NOTE AND THE COMMON STOCK, IF ANY, ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED PRIOR TO THE RESALE RESTRICTION TERMINATION DATE EXCEPT:  

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

(B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, OR 

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

(D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH CLAUSE (D) ABOVE, THE
COMPANY, THE TRUSTEE, AND THE PAYING AGENT RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL 

  
 A-1 

 
OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE
SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 THE
“RESALE RESTRICTION TERMINATION DATE” MEANS THE LATER OF: (A) THE DATE THAT IS ONE YEAR AFTER THE LAST ORIGINAL ISSUANCE DATE OF THE NOTES OR SUCH SHORTER PERIOD OF TIME PERMITTED BY RULE 144 OR ANY SUCCESSOR PROVISION THERETO;
AND (B) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW. 

  
 A-2 

 NAVISTAR INTERNATIONAL CORPORATION 

4.75% Senior Subordinated Convertible Note due 2019 
  

			
	No. [            ]	  	Initially $[            ]

 CUSIP No. 63934E AR9 

Navistar International Corporation, a Delaware corporation (herein called the “Company”, which term includes any successor
Person under the Indenture hereinafter referred to), for value received, hereby promises to pay CEDE & CO., or registered assigns, [            ] DOLLARS
($[            ]) (or such greater or lesser principal amount as shall be specified in the “Schedule of Exchanges of Securities” attached hereto) on April 15, 2019 unless
earlier converted or repurchased, and to pay interest thereon as set forth in the manner, at the rates and to the Persons set forth in the Indenture. 

This Note shall bear interest at a rate of 4.75% per annum from March 24, 2014 or from the most recent date to which interest had
been paid or provided to, but excluding, the next scheduled Interest Payment Date, until the principal hereof shall be repaid. Interest on this Note will be computed on the basis of a 360-day year composed of twelve 30-day months. Interest is
payable semi-annually in arrears on each April 15 and October 15, commencing on October 15, 2014, to the Person in whose name this Note (or one or more predecessor securities) is registered at the close of business on the Regular
Record Date for such interest. Additional Interest will be payable at the option of the Company on the terms set forth in Section 5.02 of the within-mentioned Indenture. 

The Company will pay interest on overdue principal, and, to the extent lawful, on overdue interest, in each case at a rate of 4.75% per
annum. Interest not paid when due and any interest on principal or interest not paid when due will be paid to Holders on a special record date, which will be the 15th day preceding the date fixed by the Company for the payment of such interest,
whether or not such day is a Business Day. At least 15 days before a special record date, the Company will send to each Holder and to the Paying Agent a notice that sets forth the special record date, the payment date and the amount of interest to
be paid. 
 The Company shall pay principal of and interest on this Note, so long as such Note is a Global Note, in immediately available
funds to the Depositary or its nominee, as the case may be, as the registered Holder of such Note. The Company shall pay principal of any Notes (other than Notes that are Global Notes) at the office or agency designated by the Company for that
purpose. The Company has initially designated the Trustee as its Paying Agent and Note Registrar in respect of the Notes and its agency in New York, New York as a place where Notes may be presented for payment or for registration of transfer. The
Company may, however, change the Paying Agent or Note Registrar for the Notes without prior notice to the Holders thereof, and the Company may act as Paying Agent or Note Registrar. Interest on the Notes (other than

  
 A-3 

 
Notes that are Global Notes) will be payable by wire transfer in immediately available funds to that Holder’s account within the United States, which application shall remain in effect until
that Holder notifies, in writing, the Note Registrar to the contrary. 
 Reference is hereby made to the further provisions of this Note set
forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 In the
case of any conflict between this Note and the Indenture, the provisions of the Indenture shall control. This Note, for all purposes, shall be governed by and construed in accordance with the laws of the State of New York. 

Unless the certificate of authentication hereon has been executed by the Authenticating Agent referred to on the reverse hereof by manual
signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 [Remainder of
page intentionally left blank] 

  
 A-4 

 IN WITNESS WHEREOF, NAVISTAR INTERNATIONAL CORPORATION has caused this instrument to be signed
manually or by facsimile by its duly authorized officer. 
 Dated: March 24, 2014 

 

			
	NAVISTAR INTERNATIONAL CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:

  
 A-5 

 CERTIFICATE OF AUTHENTICATION 

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

Dated: March 24, 2014 
  

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

		 	Name:
	
	Authorized Signatory

  
 A-6 

 [FORM OF REVERSE OF GLOBAL NOTE] 

NAVISTAR INTERNATIONAL CORPORATION 

4.75% Senior Subordinated Convertible Note due 2019 

This Note is one of a duly authorized issue of Securities of the Company (herein called the “Notes”), issued under and
pursuant to an Indenture dated as of March 24, 2014 (herein called the “Original Indenture”) between the Company and The Bank of New York Mellon Trust Company, N.A., herein called the “Trustee”, and reference
is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be,
authenticated and delivered. Additional Notes may be issued in an unlimited aggregate principal amount, subject to certain conditions specified in the Indenture. 

This Note is not subject to redemption at the option of the Company prior to April 20, 2017. 

As provided in and subject to the provisions of the Indenture, upon the occurrence of a Fundamental Change, the Holder has the right, at such
Holder’s option, to require the Company to repurchase all of such Holder’s Notes or any portion thereof (in principal amounts of $1,000 or integral multiples thereof) on the Fundamental Change Purchase Date at a price equal to the
Fundamental Change Purchase Price. 
 Except as described below, the Notes shall not be redeemable before April 20, 2017, and no
sinking fund is provided for the Notes. On or after such date, the Company shall be entitled to redeem the Notes at its option, in whole or in part, provided that the last reported sale price of the Company’s common stock for at least 20
trading days (whether or not consecutive) during the period of 30 consecutive trading days ending within 10 trading days immediately prior to the date of the Redemption Notice exceeds 130% of the applicable conversion price for the notes on each
applicable trading day. The Redemption Price for the Notes to be redeemed on any Redemption Date will equal (a) 100% of the principal amount of the Notes being redeemed plus (b) accrued and unpaid interest (including additional interest),
if any, to, but excluding, the Redemption Date, unless the Redemption Date falls after a record date but on or prior to the immediately succeeding interest payment date, in which case we will instead pay the full amount of accrued and unpaid
interest, including any additional interest, to the Holder of record as of the close of business on such record date. If Notes are redeemed on a date that is after a Regular Record Date for the payment of interest and on or prior to the
corresponding Interest Payment Date, accrued and unpaid interest will not be paid to the Holder of Notes being redeemed, and instead the full amount of the relevant interest payment will be paid on such interest payment date to the Holder of record
on such Regular Record Date. 
 Notice will be given not less than 30 nor more than 60 days prior to the Redemption Date, and such notice
will state, among other things: (a) that such Holder has 

  
 A-7 

 
a right to convert the Notes called for redemption upon satisfaction of the requirements therefor set forth in the Indenture, and the conversion rate applicable to such conversion; and
(b) the time at which such Holder’s right to convert the Notes called for redemption will expire, which will be the close of business on the Business Day immediately preceding the Redemption Date. Any inadvertent defect in the Redemption
Notice, including an inadvertent failure to give notice, to any Holder selected for redemption will not impair or affect the validity of the redemption of any other Note redeemed in accordance with provisions of the Indenture. 

As provided in and subject to the provisions of the Indenture, the Holder hereof has the right, at its option, during certain periods and upon
the occurrence of certain conditions specified in the Indenture, prior to the close of business on the second Scheduled Trading Day immediately preceding April 15, 2019, to convert this Note or a portion thereof that is $1,000 or an integral
multiple thereof, into cash, shares of Common Stock or a combination thereof, at the Company’s discretion, at the applicable Conversion Rate specified in the Indenture, as adjusted from time to time as provided in the Indenture. 

As provided in and subject to the provisions of the Indenture, the Company will make all payments and deliveries in respect of the Fundamental
Change Purchase Price and the principal amount of the Notes on the Stated Maturity thereof, as the case may be, to the holder who surrenders a Note to the Paying Agent to collect such payments in respect of the Note. The Company will pay cash
amounts in money of the United States that at the time of payment is legal tender for payment of public and private debts. 
 The Indenture
permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Notes to be effected under the Indenture at any time by the Company
and the Trustee with the consent of the Holders of a majority in principal amount of the Notes at the time outstanding. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes at the
time outstanding, on behalf of the Holders of all Notes, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of
this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Note. 
 As provided in and subject to the provisions of the Indenture, in case an Event of Default, as defined in
the Indenture, shall have occurred and be continuing, the principal of and interest on all Notes may be declared due and payable, by either the Trustee or Holders of not less than 25% in aggregate principal amount of Notes then outstanding, and upon
said declaration shall become due and payable, in the manner, with the effect and subject to the conditions provided in the Indenture; provided that upon the occurrence of an Event of Default specified in clauses (i) and (j) of
Section 5.01 of the Indenture, the principal amount of, and interest on, all the Notes shall automatically become due and payable. 

  
 A-8 

 No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the time, place and rate, and in the coin and currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the Note
Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and interest on this Note are payable, duly endorsed by, or accompanied by a written instrument of transfer
in form satisfactory to the Company and the Note Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized denominations and for the
same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The Notes are issuable only in registered
form without coupons in denominations of $1,000 and any integral multiple thereof. As provided in the Indenture and subject to certain limitations therein set forth, the Notes are exchangeable for a like aggregate principal amount of Notes and of
like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 
 No service charge shall be made for
any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

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

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

  
 A-9 

 ABBREVIATIONS 

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

							
				
	TEN COM - as tenants in common	 		 	 UNIF GIFT MIN ACT
	 	Custodian
		 		 	(Cust)	 	
				
	TEN ENT - as tenants by the entireties	 		 	  
	 	
		 		 	(Minor)	 	
				
	JT TEN - as joint tenants with right of Survivorship and not as tenants in common	 		 	Uniform Gifts to Minors Act	 	(State)

 Additional abbreviations may also be used though not in the above list. 

  
 A-10 

 SCHEDULE A 

SCHEDULE OF EXCHANGES OF SECURITIES 

NAVISTAR INTERNATIONAL CORPORATION 

4.75% Senior Subordinated Convertible Notes due 2019 

The initial principal amount of this Global Note is [            ] DOLLARS
($[            ]). The following, exchanges, purchases or conversions of a part of this Global Note have been made: 

 

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

 EXHIBIT B 

[FORM OF NOTICE OF CONVERSION] 
  

	To:	Navistar International Corporation 

 The undersigned owner of this Note hereby irrevocably
exercises the option to convert this Note, or a portion hereof (which is $1,000 or an integral multiple hereof) below designated, into cash, shares of Common Stock or a combination thereof, at the Company’s discretion, in accordance with the
terms of the Indenture referred to in this Note, and directs that any cash payable and any shares of Common Stock issuable and deliverable upon conversion, together with any check in payment for fractional shares of Common Stock, and any Notes
representing any unconverted principal amount hereof, be paid or issued and delivered, as the case may be, to the registered Holder hereof unless a different name has been indicated below. Subject to certain exceptions set forth in the Indenture, if
this notice is being delivered on a date after the close of business on a Regular Record Date and prior to the open of business on the related Interest Payment Date, this notice is accompanied by payment of an amount equal to the interest payable on
such Interest Payment Date of the principal of this Note to be converted. If any shares of Common Stock are to be issued in the name of a Person other than the undersigned, the undersigned will pay all transfer taxes payable with respect hereto. Any
amount required to be paid by the undersigned on account of interest accompanies this Note. 
 Principal amount to be converted (in an integral multiple of
$1,000, if less than all): 
  

	
	  

	
	  

	Signature(s)
	
	Signature(s) must be guaranteed by an institution which is a member of one of the following recognized signature Guarantee Programs:
	
	(i) The Securities Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP) or (iv) another guarantee program acceptable to
the Trustee.
	
	  

	
	  

	Signature Guarantee

  
 B-1 

 Fill in for registration of any shares of Common Stock and Notes if to be issued otherwise than to the registered
Holder. 
  

			
	  

	(Name)	 	
	
	  

	(Address)	 	
	
	 Please print Name and Address

(including zip code number)
  

Social Security or other Taxpayer

	Identifying Number	 	  

  
 B-2 

 EXHIBIT C 

[FORM OF FUNDAMENTAL CHANGE PURCHASE NOTICE] 
  

	To:	Navistar International Corporation 

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

					
	Dated:	 	  

 

	
	Signature(s)
	
	  
 Social Security or Other Taxpayer
Identification Number

	
	principal amount to be repaid (if less than all):
	$            , 000
	
	NOTICE: The signature on the Fundamental Change Purchase Notice must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever.

  
 C-1 

 EXHIBIT D 

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

  

	
	  

	
	  

	Signature(s)
	
	Signature(s) must be guaranteed by an institution which is a member of one of the following recognized signature Guarantee Programs:
	
	(i) The Securities Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP) or (iv) another guarantee program acceptable to
the Trustee.
	
	  

	
	  

	Signature Guarantee

  
 D-1 

 EXHIBIT E 

[FORM OF FREE TRANSFERABILITY CERTIFICATE] 
  

	To:	The Bank of New York Mellon Trust Company, N.A. 

 Dear Sir or Madam: 

Whereas the 4.75% Senior Subordinated Convertible Notes due 2019 (the “Notes”) have become freely tradable without restriction by
non-affiliates of Navistar International Corporation (the “Company”) pursuant to Rule 144(b)(1) under the Securities Act of 1933, as amended, in accordance with Section 2.04(a) of the indenture, dated as of March 24, 2014
(the “Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee, pursuant to which the Notes were issued, the Company hereby instructs you that: 

 

	 	(i)	the restrictive legends described in Section 2.04(a) of the Indenture and set forth on the Notes and Common Stock issued or issuable upon conversion of the Notes will be deemed removed from the global securities
representing such securities, in accordance with the terms and conditions of the Notes and as provided in the Indenture, without further action on the part of holders; and 

 

	 	(ii)	the restricted CUSIP number for the Notes will be deemed removed from the Global Notes and replaced with the unrestricted CUSIP number 63934E AS7, in accordance with the terms and conditions of the Notes and as provided
in the Indenture, without further action on the part of holders. 

 Capitalized terms used but not defined herein have the meanings set forth
in the Indenture. 
 Very truly yours, 
  

			
	NAVISTAR INTERNATIONAL CORPORATION
		
	By:	 	 
		 	Name:
		 	Title:

  
 E-1

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