Document:

EX-4.6

 Exhibit 4.6
  

 
 GAIN CAPITAL HOLDINGS, INC. 

as Issuer 
 and 

as Trustee 
 Subordinated
Indenture 
 Dated as of             , 20      

 
  

 CROSS REFERENCE SHEET1 

Between 
 Provisions of the Trust
Indenture Act of 1939 and the Indenture to be dated as of             , 20     between GAIN CAPITAL HOLDINGS, INC. and
                    , as Trustee: 
  

			
	 Section of the Act
	 	 Section of Indenture

	310(a)(1) and (2)	 	5.08
	310(a)(3) and (4)	 	Inapplicable
	310(b)	 	5.12 and 5.09(a), (b) and (d)
	310(c)	 	Inapplicable
	311(a)	 	5.12
	311(b)	 	5.12
	311(c)	 	Inapplicable
	312(a)	 	3.06
	312(b)	 	3.06
	312(c)	 	4.02(c)
	313(a)	 	3.08
	313(b)(1)	 	Inapplicable
	313(b)(2)	 	3.08
	313(c)	 	3.08
	313(d)	 	3.08
	314(a)	 	3.07
	314(b)	 	Inapplicable
	314(c)(1) and (2)	 	10.05
	314(c)(3)	 	Inapplicable
	314(d)	 	Inapplicable
	314(e)	 	10.05
	314(f)	 	Inapplicable
	315(a), (c) and (d)	 	5.01
	315(b)	 	4.11
	315(e)	 	4.12
	316(a)(1)	 	4.09
	316(a)(2)	 	Not required
	316(a) (last sentence)	 	6.04
	316(b)	 	4.07
	317(a)	 	4.02
	317(b)	 	3.04(a) and (b)
	318(a)	 	10.07

  

	1 	This Cross Reference Sheet is not part of the Indenture. 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	PAGE	 
	ARTICLE 1	  
	DEFINITIONS	  
			
	 Section 1.01.
	 	Certain Terms Defined	  	 	1	  
	
	ARTICLE 2	  
	SECURITIES	  
			
	 Section 2.01.
	 	Forms Generally	  	 	8	  
	 Section 2.02.
	 	Form of Trustee’s Certificate of Authentication	  	 	9	  
	 Section 2.03.
	 	Amount Unlimited; Issuable in Series	  	 	9	  
	 Section 2.04.
	 	Authentication and Delivery of Securities	  	 	11	  
	 Section 2.05.
	 	Execution of Securities	  	 	13	  
	 Section 2.06.
	 	Certificate of Authentication	  	 	15	  
	 Section 2.07.
	 	Denomination and Date of Securities; Payments of Interest	  	 	15	  
	 Section 2.08.
	 	Registration, Transfer and Exchange	  	 	16	  
	 Section 2.09.
	 	Mutilated, Defaced, Destroyed, Lost and Stolen Securities	  	 	17	  
	 Section 2.10.
	 	Cancellation of Securities; Disposition Thereof	  	 	18	  
	 Section 2.11.
	 	Temporary Securities	  	 	18	  
	 Section 2.12.
	 	Computation of Interest	  	 	19	  
	
	ARTICLE 3	  
	COVENANTS OF THE ISSUER AND THE TRUSTEE	  
			
	 Section 3.01.
	 	Payment of Principal and Interest	  	 	19	  
	 Section 3.02.
	 	Offices for Payments, Etc.	  	 	19	  
	 Section 3.03.
	 	Appointment to Fill a Vacancy in Office of Trustee	  	 	20	  
	 Section 3.04.
	 	Paying Agents	  	 	20	  
	 Section 3.05.
	 	Certificate of the Issuer	  	 	21	  
	 Section 3.06.
	 	Securityholders Lists	  	 	21	  
	 Section 3.07.
	 	Reports by the Issuer	  	 	21	  
	 Section 3.08.
	 	Reports by the Trustee	  	 	22	  
	
	ARTICLE 4	  
	REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF
DEFAULT	  
			
	 Section 4.01.
	 	Event of Default Defined; Acceleration of Maturity; Waiver of Default	  	 	22	  
	 Section 4.02.
	 	Collection of Indebtedness by Trustee; Trustee May Prove Debt	  	 	25	  
	 Section 4.03.
	 	Application of Proceeds	  	 	27	  

  
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	 Section 4.04.
		Suits for Enforcement		 	28	  
	 Section 4.05.
		Restoration of Rights on Abandonment of Proceedings		 	28	  
	 Section 4.06.
		Limitations on Suits by Securityholders		 	29	  
	 Section 4.07.
		Unconditional Right of Securityholders to Institute Certain Suits		 	29	  
	 Section 4.08.
		Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default		 	29	  
	 Section 4.09.
		Control by Securityholders		 	30	  
	 Section 4.10.
		Waiver of Past Defaults		 	30	  
	 Section 4.11.
		Trustee to Give Notice of Default, But May Withhold in Certain Circumstances		 	31	  
	 Section 4.12.
		Right of Court to Require Filing of Undertaking to Pay Costs		 	31	  
	
	ARTICLE 5	  
	CONCERNING THE TRUSTEE	  
			
	 Section 5.01.
		Duties and Responsibilities of the Trustee; During Default; Prior to Default		 	32	  
	 Section 5.02.
		Certain Rights of the Trustee		 	33	  
	 Section 5.03.
		Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof		 	34	  
	 Section 5.04.
		Trustee and Agents May Hold Securities, Etc.		 	35	  
	 Section 5.05.
		Moneys Held by Trustee		 	35	  
	 Section 5.06.
		Compensation and Indemnification of Trustee and Its Prior Claim		 	35	  
	 Section 5.07.
		Right of Trustee to Rely on Officer’s Certificate, Etc.		 	36	  
	 Section 5.08.
		Persons Eligible for Appointment as Trustee		 	36	  
	 Section 5.09.
		Resignation and Removal; Appointment of Successor Trustee		 	36	  
	 Section 5.10.
		Acceptance of Appointment by Successor Trustee		 	38	  
	 Section 5.11.
		Merger, Conversion, Consolidation or Succession to Business of Trustee		 	39	  
	 Section 5.12.
		Preferential Collection of Claims Against the Issuer		 	39	  
	
	ARTICLE 6	  
	CONCERNING THE SECURITYHOLDERS	  
			
	 Section 6.01.
		Evidence of Action Taken by Securityholders		 	39	  
	 Section 6.02.
		Proof of Execution of Instruments and of Holding of Securities; Record Date		 	40	  
	 Section 6.03.
		Holders to Be Treated as Owners		 	40	  
	 Section 6.04.
		Securities Owned by Issuer Deemed Not Outstanding		 	40	  
	 Section 6.05.
		Right of Revocation of Action Taken		 	41	  

  
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	ARTICLE 7	  
	SUPPLEMENTAL INDENTURES	  
			
	 Section 7.01.
		Supplemental Indentures Without Consent of Securityholders		 	41	  
	 Section 7.02.
		Supplemental Indentures With Consent of Securityholders		 	43	  
	 Section 7.03.
		Effect of Supplemental Indenture		 	44	  
	 Section 7.04.
		Documents to Be Given to Trustee		 	44	  
	 Section 7.05.
		Notation on Securities in Respect of Supplemental Indentures		 	44	  
	 Section 7.06.
		Subordination Unimpaired		 	45	  
	
	ARTICLE 8	  
	CONSOLIDATION, MERGER, SALE OR CONVEYANCE	  
			
	 Section 8.01.
		Issuer May Consolidate, Etc, on Certain Terms		 	45	  
	 Section 8.02.
		Successor Corporation Substituted		 	45	  
	 Section 8.03.
		Opinion of Counsel to Trustee		 	46	  
	
	ARTICLE 9	  
	SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS	  
			
	 Section 9.01.
		Satisfaction and Discharge of Indenture		 	46	  
	 Section 9.02.
		Application by Trustee of Funds Deposited for Payment of Securities		 	47	  
	 Section 9.03.
		Repayment of Moneys Held by Paying Agent		 	47	  
	 Section 9.04.
		Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two Years		 	48	  
	
	ARTICLE 10	  
	MISCELLANEOUS PROVISIONS	  
			
	 Section 10.01.
		Incorporators, Stockholders, Officers and Directors of Issuer Exempt from Individual Liability		 	48	  
	 Section 10.02.
		Provisions of Indenture for the Sole Benefit of Parties and Securityholders		 	48	  
	 Section 10.03.
		Successors and Assigns of Issuer Bound by Indenture		 	49	  
	 Section 10.04.
		Notices and Demands on Issuer, Trustee and Securityholders		 	49	  
	 Section 10.05.
		Officer’s Certificates and Opinions of Counsel; Statements to Be Contained Therein		 	50	  
	 Section 10.06.
		Payments Due on Saturdays, Sundays and Holidays		 	51	  
	 Section 10.07.
		Conflict of Any Provision of Indenture with Trust Indenture Act of 1939		 	51	  
	 Section 10.08.
		New York Law to Govern		 	51	  
	 Section 10.09.
		Counterparts		 	51	  
	 Section 10.10.
		Effect of Headings		 	51	  

  
 iii 

							
	 Section 10.11.
		Separability Clause		 	51	  
	
	ARTICLE 11	  
	REDEMPTION OF SECURITIES AND SINKING FUNDS	  
			
	 Section 11.01.
		Applicability of Article		 	51	  
	 Section 11.02.
		Notice of Redemption; Partial Redemptions		 	52	  
	 Section 11.03.
		Payment of Securities Called for Redemption		 	53	  
	 Section 11.04.
		Exclusion of Certain Securities from Eligibility for Selection for Redemption		 	54	  
	 Section 11.05.
		Mandatory and Optional Sinking Funds		 	54	  
	
	ARTICLE 12	  
	DEFEASANCE	  
			
	 Section 12.01.
		Issuer’s Option to Effect Defeasance		 	56	  
	 Section 12.02.
		Defeasances and Discharge		 	56	  
	 Section 12.03.
		Covenant Defeasance		 	57	  
	 Section 12.04.
		Conditions to Defeasance		 	57	  
	 Section 12.05.
		Deposited Money and U.S. Government Obligations to Be Held in Trust; Reinstatement; Miscellaneous		 	59	  
	
	ARTICLE 13	  
	SUBORDINATION OF SECURITIES	  
			
	 Section 13.01.
		Securities Subordinate to Senior Indebtedness		 	59	  
	 Section 13.02.
		Payment Over of Proceeds Upon Dissolution, Etc. of the Issuer		 	60	  
	 Section 13.03.
		No Payment When Senior Indebtedness in Default in Payment		 	61	  
	 Section 13.04.
		Payment Permitted If No Default		 	61	  
	 Section 13.05.
		Subrogation to Rights of Holders of Senior Indebtedness		 	61	  
	 Section 13.06.
		Provisions Solely to Define Relative Rights		 	62	  
	 Section 13.07.
		Trustee to Effectuate Subordination		 	62	  
	 Section 13.08.
		No Waiver of Subordination Provisions		 	62	  
	 Section 13.09.
		Notice to Trustee		 	63	  
	 Section 13.10.
		Reliance on Certificate of Liquidating Agent		 	63	  
	 Section 13.11.
		Trustee Not Fiduciary for Holders of Senior Indebtedness		 	64	  
	
	ARTICLE 14	  
	CONVERSION OF SECURITIES	  
			
	 Section 14.01.
		Applicability; Conversion Privilege and Conversion Price		 	64	  
	 Section 14.02.
		Exercise of Conversion Privilege		 	65	  
	 Section 14.03.
		Fractions of Shares		 	65	  

  
 iv 

							
	 Section 14.04.
		Adjustment of Conversion Price		 	66	  
	 Section 14.05.
		Notice of Adjustments of Conversion Price		 	68	  
	 Section 14.06.
		Notice of Certain Corporate Action		 	69	  
	 Section 14.07.
		Issuer to Reserve Common Stock		 	69	  
	 Section 14.08.
		Taxes on Conversions		 	69	  
	 Section 14.09.
		Covenant as to Common Stock		 	70	  
	 Section 14.10.
		Cancellation of Converted Securities		 	70	  
	 Section 14.11.
		Provisions in Case of Consolidation, Merger or Sale of Assets		 	70	  

  
 v 

 THIS SUBORDINATED INDENTURE, dated as of
            , 20     between GAIN CAPITAL HOLDINGS, INC. (the “Issuer”), a corporation organized under the laws of the State of Delaware, and (the
“Trustee”). 
 W I T N E S S E T H: 

WHEREAS, the Issuer has duly authorized the issue from time to time of its unsecured subordinated debentures, notes or other evidences of
Indebtedness to be issued in one or more series (the “Securities”) up to such principal amount or amounts as may from time to time be authorized in accordance with the terms of this Indenture and to provide, among other things, for
the authentication, delivery and administration thereof, the Issuer has duly authorized the execution and delivery of this Indenture; and 

WHEREAS, all things necessary to make this Indenture a valid indenture and agreement according to its terms have been done; 

NOW, THEREFORE: 
 In
consideration of the premises and the purchases of the Securities by the holders thereof, the Issuer and the Trustee mutually covenant and agree for the equal and proportionate benefit of the respective holders from time to time of the Securities or
of a series thereof as follows: 
 ARTICLE 1 

DEFINITIONS 

Section 1.01. Certain Terms Defined. The following terms (except as otherwise expressly provided or unless the context otherwise
clearly requires) for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Article. All other terms used in this Indenture that are defined in the Trust Indenture Act of 1939 or
the definitions of which in the Securities Act of 1933 are referred to in the Trust Indenture Act of 1939, including terms defined therein by reference to the Securities Act of 1933 (except as herein otherwise expressly provided or unless the
context otherwise clearly requires), shall have the meanings assigned to such terms in said Trust Indenture Act and in said Securities Act as in force at the date of this Indenture. 

All accounting terms used herein and not expressly defined shall have the meanings assigned to such terms in accordance with generally
accepted accounting principles, and the term “generally accepted accounting principles” means such accounting principles as are generally accepted at the time of any computation. The words “herein”,
“hereof” and “hereunder” and other 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 have the meanings assigned to them in this
Article and include the plural as well as the singular. 
 “Affiliate” means, with respect to any Person, any other Person
directly or indirectly controlling, controlled by, or under direct or indirect common control with, such Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,”
“controlled by” and “under common control with”) with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether
through the ownership of voting securities, by contract or otherwise. 
 “Board of Directors” means either the Board of
Directors of the Issuer or any committee of such Board duly authorized to act hereunder. 
 “Business Day” means, with
respect to any Security, a day that in the city (or in any of the cities, if more than one) in which amounts are payable, as specified in the form of such Security, is not a day on which banking institutions are authorized by law or regulation to
close. 
 “Capital Lease Obligations” means any obligation to pay rent or other amounts under a lease of (or other
agreement conveying the right to use) real or personal property that is required to be classified and accounted for as a capital lease obligation under generally accepted accounting principles, and, for the purposes of this Indenture, the amount of
such obligation at any date shall be the capitalized amount thereof at such date, determined in accordance with such principles. 

“Capital Stock” means any and all shares, interests, participations, rights or other equivalents (however designated) of
corporate stock. 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the Securities
Exchange Act of 1934, or if at any time after the execution and delivery of this Indenture such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties on such date.

 “Common Stock” means any stock of any class of the Issuer which has no preference in respect of dividends or of amounts
payable in the event of any voluntary or involuntary liquidation, dissolution or winding up of the Issuer and which is not subject to redemption by the Issuer. 

  
 2 

 “Consolidated Net Total Assets” means the total of all assets which, under
generally accepted accounting principles, would appear on the asset side of a consolidated balance sheet of the Issuer and its Subsidiaries, less the aggregate of all liabilities, deferred credits, minority shareholders’ interests in
Subsidiaries, reserves and other items which, under such principles, would appear on the liability side of such consolidated balance sheet, except Funded Indebtedness and Stockholders’ Equity; provided, however, that in
determining Consolidated Net Total Assets, there shall not be included as assets, (a) any treasury stock carried as an asset or (b) any write-ups of capital assets (other than write-ups resulting from the acquisition of stock or assets of
another corporation or business). 
 “Conversion Price” has the meaning specified in Section 14.01. 

“Corporate Trust Office” means the office of the Trustee at which the corporate trust business of the Trustee shall, at any
particular time, be principally administered, which office is, at the date as of which this Indenture is dated, located at                     . 

“Depositary” means, with respect to the Securities of any series issuable or issued in the form of one or more Global
Securities, the Person designated as Depositary by the Issuer pursuant to Section 2.03 until a successor Depositary shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Depositary”
shall mean or include each Person who is then a Depositary hereunder, and if at any time there is more than one such Person, “Depositary” as used with respect to the Securities of that series shall mean the Depositary with respect
to the Global Securities of that series. 
 “Event of Default” means any event or condition specified as such in Section
4.01. 
 “FATCA Withholding Tax” shall mean any withholding or deduction pursuant to an agreement described in Section
1471(b) of the Code or otherwise imposed pursuant to Sections 1471 through 1474 of the Code (or any regulations or agreements thereunder or official interpretations thereof) or any intergovernmental agreement between the United States and another
jurisdiction facilitating the implementation thereof (or any law implementing such an intergovernmental agreement). 
 “Funded
Indebtedness” of any Person means all indebtedness for borrowed money created, incurred, assumed or guaranteed in any manner by such Person, and all indebtedness incurred or assumed by such Person in connection with the acquisition of any
business, property or asset, which in each case matures more than one year after, or which by its terms is renewable or extendible or payable out of the proceeds of similar indebtedness incurred pursuant to the terms of any revolving credit
agreement or any similar agreement at the option of such Person for a period ending more than one year after the date as of which Funded Indebtedness is being determined (excluding any amount thereof which is included in current liabilities);
provided, however, that Funded Indebtedness shall not include: (a) any indebtedness for the payment, redemption or satisfaction of which money (or evidences of indebtedness, if permitted under the instrument creating or evidencing
such indebtedness) in the necessary amount shall have been irrevocably deposited in trust with a trustee or proper depository either on or before the maturity or redemption date thereof or (b) any indebtedness of such

  
 3 

 
Person to any of its subsidiaries or of any subsidiary to such Person or any other subsidiary or (c) any indebtedness incurred in connection with the financing of operating, construction or
acquisition projects, provided that the recourse for such indebtedness is limited to the assets of such projects. 
 “Global
Security” means a Security evidencing all or a part of a series of Securities, issued to the Depositary for such series in accordance with Section 2.05, and bearing the legend prescribed in Section 2.05. 

“Holder”, “holder of Securities”, “Securityholder” or other similar terms mean the Person
in whose name a Security is registered in the security register kept by the Issuer for the purpose in accordance with the terms hereof. 

“Indebtedness” means (a) any liability of any Person (i) for borrowed money, or any non-contingent reimbursement
obligation relating to a letter of credit, or (ii) evidenced by a bond, note, debenture or similar instrument (including a purchase money obligation) given in connection with the acquisition of any businesses, properties or assets of any kind
(other than a trade payable or a current liability arising in the ordinary course of business), or (iii) for the payment of money relating to a Capital Lease Obligation; (b) any liability of others described in the preceding clause
(a) that the Person has guaranteed or that is otherwise its legal liability; and (c) any amendment, supplement, modification, deferral, renewal, extension or refunding of any liability of the types referred to in clauses (a) and (b)
above. 
 “Indenture” means this instrument as originally executed and delivered or, if amended or supplemented as herein
provided, as so amended or supplemented or both, and shall include the forms and terms of particular series of Securities established as contemplated hereunder. 

“Interest” means, when used with respect to non-interest bearing Securities, interest payable after maturity. 

“Issuer” means GAIN Capital Holdings, Inc., a corporation organized under the laws of the State of Delaware, and, subject to
Article 8, its successors and assigns. 
 “Issuer Order” means a written statement, request or order of the Issuer signed
in its name by the chairman of the Board of Directors, the president, any vice president or the treasurer of the Issuer. 

“Mandatory Sinking Fund Payment” shall have the meaning set forth in Section 11.05. 

“New York Agency” means the office of
                    , serving as agent of the Trustee in The City of New York, which office is, at the date as of which this Indenture is dated,
located at                     . 

  
 4 

 “Officer’s Certificate” means a certificate signed by the chairman of the
Board of Directors or the president or any vice president or the treasurer or the secretary or any assistant secretary of the Issuer and delivered to the Trustee. Each such certificate shall comply with Section 314 of the Trust Indenture Act of
1939 and include the statements provided for in Section 10.05 hereof, if and to the extent that such sections are applicable. 

“Opinion of Counsel” means an opinion in writing signed by legal counsel who may be an employee of or counsel to the Issuer
and who shall be reasonably satisfactory to the Trustee. Each such opinion shall comply with Section 314 of the Trust Indenture Act of 1939 and include the statements provided for in Section 10.05 hereof, if and to the extent that such
sections are applicable. 
 “Optional Sinking Fund Payment” shall have the meaning set forth in Section 11.05. 

“Original Issue Discount Security” means any Security that provides for an amount less than the principal amount thereof to
be due and payable upon a declaration of acceleration of the maturity thereof pursuant to Section 4.01. 
 “Outstanding”,
when used with reference to Securities, shall, subject to the provisions of Section 6.04, mean, as of any particular time, all Securities authenticated and delivered by the Trustee under this Indenture, except 

(a) Securities theretofore canceled by the Trustee or delivered to the Trustee for cancellation; 

(b) Securities, or portions thereof, for the payment or redemption of which moneys in the necessary amount shall have been
deposited in trust with the Trustee or with any paying agent (other than the Issuer) or shall have been set aside, segregated and held in trust by the Issuer for the holders of such Securities (if the Issuer shall act as its own paying agent),
provided that if such Securities, or portions thereof, are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as herein provided, or provision reasonably satisfactory to the Trustee shall have been
made for giving such notice; 
 (c) Securities in substitution for which other Securities shall have been authenticated and
delivered, or which shall have been paid, pursuant to the terms of Section 2.09 (except with respect to any such Security as to which proof reasonably satisfactory to the Trustee is presented that such Security is held by a person in whose
hands such Security is a legal, valid and binding obligation of the Issuer); and 
 (d) Securities converted for Common Stock
pursuant to Article 14. 

  
 5 

 Securities do not cease to be outstanding because the Issuer or one of its Affiliates holds the Securities,
provided that in determining whether the Holders of the requisite principal amount of the outstanding Securities have given or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder, Securities owned
by the Issuer or any Affiliate of the Issuer will be disregarded and deemed not to be outstanding, (it being understood that in determining whether the Trustee is protected in relying upon any such request, demand, authorization, direction, notice,
consent, waiver or other action, only Securities which the Trustee knows to be so owned will be so disregarded). Notes so owned which have been pledged in good faith may be regarded as outstanding if the pledgee establishes to the satisfaction of
the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Issuer or any Affiliate of the Issuer. In determining whether the holders of the requisite principal amount of Outstanding Securities of
any or all series have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the principal amount of an Original Issue Discount Security that shall be deemed to be Outstanding for such purposes shall be the amount
of the principal thereof that would be due and payable as of the date of such determination upon a declaration of acceleration of the maturity thereof pursuant to Section 4.01. 

“Periodic Offering” means an offering of Securities of a series from time to time, the specific terms of which Securities,
including, without limitation, the rate or rates of interest, if any, thereon, the stated maturity or maturities thereof and the redemption provisions, if any, with respect thereto, are to be determined by the Issuer or its agents upon the issuance
of such Securities. 
 “Person” means any individual, corporation, partnership, joint venture, association, joint stock
company, trust, unincorporated organization or government or any agency or political subdivision thereof. 
 “principal”
whenever used with reference to the Securities or any Security or any portion thereof, shall be deemed to include “and premium, if any”. 

“Principal Property” means all property and equipment directly engaged or used or useful in the primary business of the
Issuer and its Subsidiaries, except any such property and equipment which the Board of Directors concludes in good faith is not material to the business of the Issuer and its Subsidiaries taken as a whole. 

“Record Date” shall have the meaning set forth in Section 2.07. 

“Responsible Officer” when used with respect to the Trustee means the chairman of the board of directors, any vice chairman
of the board of directors, the chairman of the trust committee, the chairman of the executive committee, any vice chairman of the executive committee, the president, any vice president, the cashier, the secretary, the treasurer, any senior trust
officer, any trust officer, any assistant trust officer, any assistant vice president, any assistant cashier, any 

  
 6 

 
assistant secretary, any assistant treasurer, or any other officer or assistant officer of the Trustee customarily performing functions similar to those performed by the persons who at the time
shall be such officers, respectively, or to whom any corporate trust matter is referred because of his knowledge of and familiarity with the particular subject. 

“Restricted Subsidiary” means any Subsidiary of the Issuer that owns a Principal Property and has Stockholders’ Equity
that is greater than 1% of the Consolidated Net Total Assets of the Issuer. 
 “Security” or “Securities”
has the meaning stated in the first recital of this Indenture, or, as the case may be, Securities that have been authenticated and delivered under this Indenture. 

“Senior Funded Indebtedness” means any Funded Indebtedness which is also Senior Indebtedness. 

“Senior Indebtedness” shall mean the principal of and premium, if any, and interest on (including interest accruing after the
filing of a petition initiating any proceeding pursuant to any bankruptcy law) and other amounts due on or in connection with any Indebtedness of the Issuer, whether outstanding on the date of this Indenture or hereafter created, incurred or
assumed, unless, in the case of any particular Indebtedness, the instrument creating or evidencing the same or pursuant to which the same is outstanding expressly provides in writing that such Indebtedness shall be subordinated in right of payment
to the Securities. Notwithstanding the foregoing, Senior Indebtedness shall not include Indebtedness of the Issuer to a Subsidiary of the Issuer for money borrowed or advanced from such Subsidiary. 

“Sinking Fund Payment Date” shall have the meaning set forth in Section 11.05. 

“Stockholders’ Equity” means the aggregate of (however designated) capital, capital stock (including preferred stock),
capital surplus, capital in excess of par value of stock, earned surplus, net income retained for use in the business and cumulative foreign exchange translation adjustments, after deducting the cost of shares of the Issuer held in its treasury.

 “Subsidiary” means (a) any corporation of which more than 50% of the total voting power of shares of Capital Stock
entitled (without regard to the occurrence of any contingency) to vote in the election of directors thereof is at the time directly or indirectly owned by the Issuer or by the Issuer and one or more Subsidiaries or by one or more Subsidiaries, and
(b) any limited partnership in which the Issuer or a Subsidiary is a general partner and in which more than 50% of the voting interests thereof is at the time directly or indirectly owned by the Issuer or by the Issuer and one or more
Subsidiaries or by one or more Subsidiaries. The term “subsidiary”, when used with respect to any Person other than the Issuer, shall have a meaning correlative to the foregoing. 

  
 7 

 “Trust Indenture Act of 1939” (except as otherwise provided in Section 7.01
and 7.02) means the Trust Indenture Act of 1939 as in force at the date as of which this Indenture was originally executed. 

“Trustee” means the Person identified as “Trustee” in the first paragraph hereof and, subject to the provisions of
Article 5, shall also include any successor trustee. “Trustee” shall also mean or include each Person who is then a trustee hereunder and if at any time there is more than one such Person, “Trustee” as used with
respect to the Securities of any series shall mean the trustee with respect to the Securities of such series. 
 “U.S. Government
Obligations” shall have the meaning set forth in Section 9.01. 
 “vice president” when used with respect to the
Issuer or the Trustee, means any vice president, whether or not designated by a number or a word or words added before or after the title of “vice president”. 

“Yield to Maturity” means the yield to maturity on a series of Securities, calculated at the time of issuance of such series,
or, if applicable, at the most recent redetermination of interest on such series, and calculated in accordance with accepted financial practice. 

ARTICLE 2 

SECURITIES 

Section 2.01. Forms Generally. The Securities of each series shall be substantially in such form (not inconsistent with this
Indenture) as shall be established by or pursuant to a resolution of the Board of Directors (as set forth in such resolution or, to the extent established pursuant to rather than set forth in such resolution, an Officer’s Certificate detailing
such establishment) or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture and may have imprinted or otherwise
reproduced thereon such legend or legends, not inconsistent with the provisions of this Indenture, as may be required to comply with any law or with any rules or regulations pursuant thereto, or with any rules of any securities exchange or to
conform to general usage, all as may be determined by the officers executing such Securities, as evidenced by their execution of the Securities. 

  
 8 

 Section 2.02. Form of Trustee’s Certificate of Authentication. The
Trustee’s certificate of authentication on all Securities shall be in substantially the following form: 
 This is one of the
Securities of the series designated herein and referred to in the within-mentioned Indenture. 
  

			
	  

			as Trustee
		
	By:		  

			Authorized Officer

 Section 2.03. Amount Unlimited; Issuable in Series. The aggregate principal amount of
Securities which may be authenticated and delivered under this Indenture is unlimited. 
 The Securities may be issued in one or more
series. There shall be established in or pursuant to a resolution of the Board of Directors and set forth in an Officer’s Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any
series, 
 (a) the title of the Securities of the series (which shall distinguish the Securities of the series from all other Securities);

 (b) any limit upon the aggregate principal amount of the Securities of the series that may be authenticated and delivered under this
Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 2.08, 2.09, 2.11, 7.05, 7.06 or 11.03); 

(c) the date or dates on which the principal of the Securities of the series is payable; 

(d) if other than the coin or currency of the United States, the coin or currency in which the Securities of that series are denominated, the
coin or currency in which payment of the principal of or interest, if any, on the Securities of that series shall be payable and the method of valuing that coin or currency for purposes of determining the aggregate principal amount of Securities of
that series then Outstanding and the amount to be paid to satisfy a judgment denominated in the coin or currency of the United States; 

(e) the rate or rates at which the Securities of the series shall bear interest, if any, or the method by which such rate shall be determined,
the date or dates from which such interest shall accrue, the interest payment dates on which such interest shall be payable and the record dates for the determination of Holders to whom interest is payable; 

  
 9 

 (f) the place or places where the principal of and any interest on Securities of the series shall
be payable (if other than as provided in Section 3.02); 
 (g) the price or prices at which, the period or periods within which and the
terms and conditions upon which Securities of the series may be redeemed, in whole or in part, at the option of the Issuer, pursuant to any sinking fund or otherwise; 

(h) the denominations in which Securities of the series shall be issuable; 

(i) the obligation, if any, of the Issuer to redeem, purchase or repay Securities of the series pursuant to any sinking fund or analogous
provisions or at the option of a Holder thereof and the price or prices at which and the period or periods within which and the terms and conditions upon which Securities of the series shall be redeemed, purchased or repaid, in whole or in part,
pursuant to such obligation; 
 (j) if other than the principal amount thereof, the portion of the principal amount of Securities of the
series which shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 4.01 or provable in bankruptcy pursuant to Section 4.02; 

(k) if the amount of payments of principal of and interest on the Securities of the series may be determined with reference to an index based
on a coin or currency other than that in which the Securities of the series are denominated, the manner in which such amounts shall be determined; 

(l) whether and under what circumstances the Issuer will pay additional amounts on the Securities of the series held by a person who is not a
U.S. person in respect of any tax, assessment or governmental charge withheld or deducted and, if so, whether the Issuer will have the option to redeem such Securities rather than pay such additional amounts; 

(m) any trustees, authenticating or paying agents, transfer agents or registrars or any other agents with respect to the Securities of such
series; 
 (n) any other events of default or covenants with respect to the Securities of such series; 

(o) whether the Securities of the series shall be issued in the form of one or more Global Securities and, in such case, the Depositary for
such Global Security or Global Securities; 
 (p) the terms and conditions, if any, pursuant to which the Securities of the series are
convertible into Common Stock or other securities of the Issuer or another Person; and 

  
 10 

 (q) any other terms of the series (which terms shall not be inconsistent with the provisions of
this Indenture). 
 All Securities of any one series shall be substantially identical except as to denomination and except as may otherwise
be provided in or pursuant to such resolution of the Board of Directors or Officer’s Certificate or in any such indenture supplemental hereto. All Securities of any one series need not be issued at the same time and may be issued from time to
time, consistent with the terms of this Indenture, if so provided by or pursuant to such a resolution of the Board of Directors, such Officer’s Certificate or in any such indenture supplemental hereto. 

Section 2.04. Authentication and Delivery of Securities. At any time and from time to time after the execution and delivery of
this Indenture, the Issuer may deliver Securities of any series executed by the Issuer to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver such Securities pursuant to an Issuer Order, or pursuant to such
procedures acceptable to the Trustee and to such recipients as may be specified from time to time by an Issuer Order. The maturity date, original issue date, interest rate and any other terms of the Securities of such series may, if not previously
established by a Board Resolution, Officer’s Certificate or indenture supplemental hereto pursuant to Section 2.03, be determined by or pursuant to such Issuer Order or such procedures. In authenticating such Securities and accepting the
additional responsibilities under this Indenture in relation to such Securities the Trustee shall be entitled to receive (in the case of subparagraphs (a), (b), (c) and (d) below only at or before the time of the first request of the
Issuer to the Trustee to authenticate Securities of such series), and (subject to Section 5.01) shall be fully protected in relying upon, unless and until such documents have been superseded or revoked: 

(a) a copy of any resolution or resolutions of the Board of Directors relating to such series, in each case certified by the secretary or an
assistant secretary of the Issuer; 
 (b) an executed supplemental indenture, if any; 

(c) an Officer’s Certificate setting forth the form and terms, or the manner of establishing the terms, of the Securities as required
pursuant to Section 2.01 and 2.03, respectively and prepared in accordance with Section 10.05; 
 (d) an Opinion of Counsel,
prepared in accordance with Section 10.05, to the effect that 

  
 11 

 (i) the form or forms of such Securities have been established by or pursuant to
a resolution of the Board of Directors or by a supplemental indenture as permitted by Section 2.01 and 2.03 in conformity with the provisions of this Indenture; 

(ii) in the case of an underwritten offering, the terms of the Securities have been duly authorized and established in
conformity with the provisions of this Indenture, and, in the case of a Periodic Offering, certain terms of the Securities have been established pursuant to a resolution of the Board of Directors, an Officer’s Certificate or a supplemental
indenture in accordance with this Indenture, and when such other terms as are to be established pursuant to procedures set forth in an Issuer Order shall have been established, all such terms will have been duly authorized by the Issuer and will
have been established in conformity with the provisions of this Indenture; 
 (iii) such Securities, when authenticated and
delivered by the Trustee and issued by the Issuer in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and binding obligations of the Issuer; 

(iv) all laws and requirements in respect of the execution and delivery by the Issuer of the Securities have been complied
with; and 
 (v) covering such other matters as the Trustee may reasonably request; and 

(e) an Issuer Order requesting such authentication and setting forth delivery instructions if the Securities are not to be delivered to the
Issuer, provided that, with respect to Securities of a series subject to a Periodic Offering, (i) such Issuer Order may be delivered by the Issuer to the Trustee prior to the delivery to the Trustee of such Securities for authentication
and delivery, (ii) the Trustee shall authenticate and deliver Securities of such series for original issue from time to time, in an aggregate principal amount not exceeding the aggregate principal amount established for such series, pursuant to
an Issuer Order or pursuant to procedures acceptable to the Trustee as may be specified from time to time by an Issuer Order, (c) the maturity date or dates, original issue date or dates, interest rate or rates and any other terms of Securities
of such series shall be determined by an Issuer Order or pursuant to such procedures and (d) if provided for in such procedures, such Issuer Order may authorize authentication and delivery pursuant to oral or electronic instructions from the
Issuer or its duly authorized agent or agents, which oral instructions shall be promptly confirmed in writing. 

  
 12 

 The Trustee shall have the right to decline to authenticate and deliver any Securities under this
Section if the Trustee, being advised by counsel, determines that such action may not lawfully be taken by the Issuer or if the Trustee in good faith by its board of directors or board of trustees, executive committee, or a trust committee of
directors or trustees or Responsible Officers shall determine that such action would expose the Trustee to personal liability to existing Holders or would affect the Trustee’s own rights, duties or immunities under the Securities, this
Indenture or otherwise. 
 Section 2.05. Execution of Securities. The Securities shall be signed on behalf of the Issuer by both
(a) the chairman of its Board of Directors or any vice chairman of its Board of Directors or its president or any vice president and (b) by its treasurer or any assistant treasurer or its secretary or any assistant secretary. Such
signatures may be the manual or facsimile signatures of the present or any future such officers. Typographical and other minor errors or defects in any such reproduction of any such signature shall not affect the validity or enforceability of any
Security that has been duly authenticated and delivered by the Trustee. 
 In case any officer of the Issuer who shall have signed any of
the Securities shall cease to be such officer before the Security so signed shall be authenticated and delivered by the Trustee or disposed of by the Issuer, such Security nevertheless may be authenticated and delivered or disposed of as though the
person who signed such Security had not ceased to be such officer of the Issuer; and any Security may be signed on behalf of the Issuer by such persons as, at the actual date of the execution of such Security, shall be the proper officers of the
Issuer, although at the date of the execution and delivery of this Indenture any such person was not such an officer. 
 If the Issuer shall
establish pursuant to Section 2.03 that the Securities of a series are to be issued in the form of one or more Global Securities, then the Issuer shall execute and the Trustee shall, in accordance with this Section and the Issuer Order with
respect to such series, authenticate and deliver one or more Global Securities that (a) shall represent and shall be denominated in an amount equal to the aggregate principal amount of all of the Securities of such series having the same terms
issued and not yet canceled, (b) shall be registered in the name of the Depositary for such Global Security or Global Securities or the nominee of such Depositary, (c) shall be delivered by the Trustee to such Depositary or pursuant to
such Depositary’s instructions and (d) shall bear a legend substantially to the following effect: 
 UNLESS AND UNTIL IT IS
EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE REGISTERED FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO THE NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF

  
 13 

 
THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF SUCH DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 

Each Depositary designated pursuant to Section 2.03 must, at the time of its designation and at all times while it serves as Depositary,
be a clearing agency registered under the Securities Exchange Act of 1934, as amended, and any other applicable statute or regulation. 

Notwithstanding any other provision of this Section 2.05, unless and until it is exchanged in whole or in part for Securities in
definitive form, a Global Security representing all or a portion of the Securities of a series may not be transferred except as a whole by the Depositary for such series to a nominee of such Depositary or by a nominee of such Depositary to such
Depositary or another nominee of such Depositary or by such Depositary or any such nominee to a successor Depositary for such series or a nominee of such successor Depositary. 

If at any time the Depositary for any Securities of a series represented by one or more Global Securities notifies the Issuer that it is
unwilling or unable to continue as Depositary for such Securities or if at any time the Depositary for such Securities shall no longer be eligible under this Section 2.05, the Issuer shall appoint a successor Depositary eligible under this
Section 2.05 with respect to such Securities. If a successor Depositary eligible under this Section 2.05 for such Securities is not appointed by the Issuer within 90 days after the Issuer receives such notice or becomes aware of such
ineligibility, the Issuer’s election pursuant to Section 2.03 that such Securities be represented by one or more Global Securities shall no longer be effective and the Issuer will execute, and the Trustee, upon receipt of an Officer’s
Certificate for the authentication and delivery of definitive Securities of such series, will authenticate and deliver, Securities of such series in definitive registered form without coupons, in any authorized denominations, in an aggregate
principal amount equal to the principal amount of the Global Security or Global Securities representing such Securities in exchange for such Global Security or Global Securities. 

The Issuer may at any time and in its sole discretion determine that the Securities of any series issued in the form of one or more Global
Securities shall no longer be represented by a Global Security or Global Securities. In such event the Issuer will execute, and the Trustee, upon receipt of an Issuer Order for the authentication and delivery of definitive Securities of such series,
will authenticate and deliver, Securities of such series in definitive registered form without coupons, in any authorized denominations, in an aggregate principal amount equal to the principal amount of the Global Security or Global Securities
representing such Securities, in exchange for such Global Security or Global Securities. 

  
 14 

 If specified by the Issuer pursuant to Section 2.03 with respect to Securities represented
by a Global Security, the Depositary for such Global Security may surrender such Global Security in exchange in whole or in part for Securities of the same series in definitive registered form on such terms as are acceptable to the Issuer and such
Depositary. Thereupon, the Issuer shall execute, and the Trustee shall authenticate and deliver, without service charge, 

(a) to the Person specified by such Depositary a new Security or Securities of the same series, of any authorized denominations
as requested by such Person, in an aggregate principal amount equal to and in exchange for such Person’s beneficial interest in the Global Security; and 

(b) to such Depositary a new Global Security in a denomination equal to the difference, if any, between the principal amount of
the surrendered Global Security and the aggregate principal amount of Securities authenticated and delivered pursuant to clause (a) above. 

Upon the exchange of a Global Security for Securities in definitive registered form without coupons, in authorized denominations, such Global
Security shall be canceled by the Trustee or an agent of the Issuer or the Trustee. Securities in definitive registered form without coupons issued in exchange for a Global Security pursuant to this Section 2.05 shall be registered in such
names and in such authorized denominations as the Depositary for such Global Security, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee or an agent of the Issuer or the Trustee. The Trustee
or such agent shall deliver such Securities to or as directed by the Persons in whose names such Securities are so registered. 

Section 2.06. Certificate of Authentication. Only such Securities as shall bear thereon a certificate of authentication
substantially in the form hereinbefore recited, executed by the Trustee by the manual signature of one of its authorized officers, shall be entitled to the benefits of this Indenture or be valid or obligatory for any purpose. Such certificate by the
Trustee upon any Security executed by the Issuer shall be conclusive evidence that the Security so authenticated has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits of this Indenture. 

Section 2.07. Denomination and Date of Securities; Payments of Interest. The Securities shall be issuable as registered securities
without coupons and in denominations as shall be specified as contemplated by Section 2.03. In the absence of any such specification with respect to the Securities of any series, the Securities of such series shall be issuable in denominations
of $1,000 and any 

  
 15 

 
multiple thereof. The Securities shall be numbered, lettered, or otherwise distinguished in such manner or in accordance with such plan as the officers of the Issuer executing the same may
determine with the approval of the Trustee as evidenced by the execution and authentication thereof. 
 Each Security shall be dated the
date of its authentication, shall bear interest, if any, from such date and shall be payable on the dates, in each case, which shall be specified as contemplated by Section 2.03. 

The person in whose name any Security of any series is registered at the close of business on any record date applicable to a particular
series with respect to any interest payment date for such series shall be entitled to receive the interest, if any, payable on such interest payment date notwithstanding any transfer or exchange of such Security subsequent to the record date and
prior to such interest payment date, except if and to the extent the Issuer shall default in the payment of the interest due on such interest payment date for such series, in which case such defaulted interest shall be paid to the persons in whose
names Outstanding Securities for such series are registered at the close of business on a subsequent record date (which shall be not less than five Business Days prior to the date of payment of such defaulted interest) established by notice given by
mail by or on behalf of the Issuer to the holders of Securities not less than 15 days preceding such subsequent record date. The term “record date” as used with respect to any interest payment date (except a date for payment of
defaulted interest) shall mean the date specified as such in the terms of the Securities of any particular series, or, if no such date is so specified, if such interest payment date is the first day of a calendar month, the fifteenth day of the next
preceding calendar month or, if such interest payment date is the fifteenth day of a calendar month, the first day of such calendar month, whether or not such record date is a Business Day. 

Section 2.08. Registration, Transfer and Exchange. The Issuer will keep or cause to be kept at each office or agency to be
maintained for the purpose as provided in Section 3.02 a register or registers in which, subject to such reasonable regulations as it may prescribe, it will register, and will register the transfer of, Securities as in this Article provided.
Such register shall be in written form in the English language or in any other form capable of being converted into such form within a reasonable time. At all reasonable times such register or registers shall be open for inspection by the Trustee.

 Upon due presentation for registration of transfer of any Security of any series at any such office or agency to be maintained for the
purpose as provided in Section 3.02, the Issuer shall execute and the Trustee shall authenticate and deliver in the name of the transferee or transferees a new Security or Securities of the same series in authorized denominations for a like
aggregate principal amount. 

  
 16 

 Any Security or Securities of any series may be exchanged for a Security or Securities of the
same series in other authorized denominations, in an equal aggregate principal amount. Securities of any series to be exchanged shall be surrendered at any office or agency to be maintained by the Issuer for the purpose as provided in
Section 3.02, and the Issuer shall execute and the Trustee shall authenticate and deliver in exchange therefor the Security or Securities of the same series which the Securityholder making the exchange shall be entitled to receive, bearing
numbers not contemporaneously outstanding. 
 All Securities presented for registration of transfer, exchange, redemption or payment shall
(if so required by the Issuer or the Trustee) be duly endorsed by, or be accompanied by a written instrument or instruments of transfer in form reasonably satisfactory to the Issuer and the Trustee duly executed by, the holder or his attorney duly
authorized in writing. 
 The Issuer may require payment of a sum sufficient to cover any tax or other governmental charge that may be
imposed in connection with any exchange or registration of transfer of Securities. No service charge shall be made for any such transaction. 

The Issuer shall not be required to exchange or register a transfer of (a) any Securities of any series for a period of 15 days next
preceding the first mailing of notice of redemption of Securities of such series to be redeemed, or (b) any Securities selected, called or being called for redemption except, in the case of any Security where notice has been given that such
Security is to be redeemed in part, the portion thereof not so to be redeemed. 
 All Securities issued upon any transfer or exchange of
Securities shall be valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such transfer or exchange. 

Section 2.09. Mutilated, Defaced, Destroyed, Lost and Stolen Securities. In case any temporary or definitive Security shall become
mutilated, defaced or be destroyed, lost or stolen, the Issuer in its discretion may execute, and upon the written request of any officer of the Issuer, the Trustee shall authenticate and deliver, a new Security of the same series, bearing a number
not contemporaneously outstanding, in exchange and substitution for the mutilated or defaced Security, or in lieu of and substitution for the Security so destroyed, lost or stolen. In every case, the applicant for a substitute Security shall furnish
to the Issuer and to the Trustee and any agent of the Issuer or the Trustee such security or indemnity as may be required by them to indemnify and defend and to save each of them harmless and, in every case of destruction, loss or theft, shall
furnish evidence to their reasonable satisfaction of the destruction, loss or theft of such Security and of the ownership thereof. 

  
 17 

 Upon the issuance of any substitute Security, the Issuer may require the payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. In case any Security which has matured or is about to
mature or has been called for redemption in full shall become mutilated or defaced or be destroyed, lost or stolen, the Issuer may instead of issuing a substitute Security, pay or authorize the payment of the same (without surrender thereof except
in the case of a mutilated or defaced Security), if the applicant for such payment shall furnish to the Issuer and to the Trustee and any agent of the Issuer or the Trustee such security or indemnity as any of them may require to save each of them
harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Issuer and the Trustee and any agent of the Issuer or the Trustee evidence to their reasonable satisfaction of the destruction, loss or theft of such
Security and of the ownership thereof. 
 Every substitute Security of any series issued pursuant to the provisions of this Section by
virtue of the fact that any such Security is destroyed, lost or stolen shall constitute an additional contractual obligation of the Issuer, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone and that
substitute Security shall be entitled to all the benefits of (but shall be subject to all the limitations of rights set forth in) this Indenture equally and proportionately with any and all other Securities of such series duly authenticated and
delivered hereunder. All Securities shall be held and owned upon the express condition that, to the extent permitted by law, the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, defaced or destroyed, lost
or stolen Securities 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 of negotiable instruments or other securities
without their surrender. 
 Section 2.10. Cancellation of Securities; Disposition Thereof. All Securities surrendered for
payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, if surrendered to the Issuer or any agent of the Issuer or of the Trustee, shall be delivered to the Trustee for
cancellation or, if surrendered to the Trustee, shall be canceled by it; and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall dispose of canceled Securities
held by it in accordance with its customary procedures and deliver a certificate of disposition to the Issuer. If the Issuer shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness
represented by such Securities unless and until the same are delivered to the Trustee for cancellation. 

Section 2.11. Temporary Securities. Pending the preparation of definitive Securities for any series, the Issuer may execute
and the Trustee shall authenticate  

  
 18 

 
and deliver temporary Securities for such series (printed, lithographed, typewritten or otherwise reproduced, in each case in form reasonably satisfactory to the Trustee). Temporary Securities of
any series shall be issuable as registered Securities without coupons, of any authorized denomination, and substantially in the form of the definitive Securities of such series but with such omissions, insertions and variations as may be appropriate
for temporary Securities, all as may be determined by the Issuer with the concurrence of the Trustee. Temporary Securities may contain such reference to any provisions of this Indenture as may be appropriate. Every temporary Security shall be
executed by the Issuer and be authenticated by the Trustee upon the same conditions and in substantially the same manner, and with like effect, as the definitive Securities. Without unreasonable delay the Issuer shall execute and shall furnish
definitive Securities of such series and thereupon temporary Securities of such series may be surrendered in exchange therefor without charge at each office or agency to be maintained by the Issuer for that purpose pursuant to Section 3.02, and
the Trustee shall authenticate and deliver in exchange for such temporary Securities of such series a like aggregate principal amount of definitive Securities of the same series of authorized denominations. Until so exchanged, the temporary
Securities of any series shall be entitled to the same benefits under this Indenture as definitive Securities of such series. 

Section 2.12. Computation of Interest. Except as otherwise specified as contemplated by Section 2.03 for Securities of any
series, interest on the Securities of each series shall be computed on the basis of a 360 day year of twelve 30-day months. 
 ARTICLE
3 
 COVENANTS OF THE ISSUER AND THE
TRUSTEE 
 Section 3.01. Payment of Principal and Interest. The Issuer covenants and agrees for the benefit of
the Holders of each series of Securities that it will duly and punctually pay or cause to be paid the principal of, and interest on, each of the Securities of such series at the place or places, at the respective times and in the manner provided in
such Securities. Each installment of interest on the Securities of any series may be paid by mailing checks for such interest payable to or upon the written order of the holders of Securities entitled thereto as they shall appear on the registry
books of the Issuer. 
 Section 3.02. Offices for Payments, Etc. So long as any of the Securities remain Outstanding, the Issuer
will maintain in The City of New York, the following for each series: an office or agency (a) where the Securities may be presented for payment, (b) where the Securities may be presented for registration of transfer and for exchange as in
this Indenture provided, (c) where Securities may be surrendered for conversion and (d) where notices and demands to or upon 

  
 19 

 
the Issuer in respect of the Securities or of this Indenture may be served. The Issuer will give to the Trustee written notice of the location of any such office or agency and of any change of
location thereof. Unless otherwise specified in accordance with Section 2.03, the Issuer hereby initially designates the New York Agency as the office to be maintained by it for each such purpose. In case the Issuer shall fail to so designate
or maintain any such office or agency or shall fail to give such notice of the location or of any change in the location thereof, presentations and demands may be made and notices may be served at the New York Agency. 

Section 3.03. Appointment to Fill a Vacancy in Office of Trustee. The Issuer, whenever necessary to avoid or fill a vacancy in the
office of Trustee, will appoint, in the manner provided in Section 5.09, a Trustee, so that there shall at all times be a Trustee with respect to each series of Securities hereunder. 

Section 3.04. Paying Agents. Whenever the Issuer shall appoint a paying agent other than the Trustee with respect to the
Securities of any series, it 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, 

(a) that it will hold all sums received by it as such agent for the payment of the principal of or interest on the Securities of such series
(whether such sums have been paid to it by the Issuer or by any other obligor on the Securities of such series) in trust for the benefit of the holders of the Securities of such series or of the Trustee, 

(b) that it will give the Trustee notice of any failure by the Issuer (or by any other obligor on the Securities of such series) to make any
payment of the principal of or interest on the Securities of such series when the same shall be due and payable, and 
 (c) that it will pay
any such sums so held by it in trust to the Trustee upon the Trustee’s written request at any time during the continuance of the failure referred to in clause (b) above. 

The Issuer will, on or prior to each due date of the principal of or interest on the Securities of such series, deposit with the paying agent
a sum sufficient to pay such principal or interest so becoming due, and (unless such paying agent is the Trustee) the Issuer will promptly notify the Trustee of any failure to take such action. 

If the Issuer shall act as its own paying agent with respect to the Securities of any series, it will, on or before each due date of the
principal of or interest on the Securities of such series, set aside, segregate and hold in trust for the benefit 

  
 20 

 
of the holders of the Securities of such series a sum sufficient to pay such principal or interest so becoming due. The Issuer will promptly notify the Trustee of any failure to take such action.

 Anything in this Section to the contrary notwithstanding, the Issuer may at any time, for the purpose of obtaining a satisfaction and
discharge with respect to one or more or all series of Securities hereunder, or for any other reason, pay or cause to be paid to the Trustee all sums held in trust for any such series by the Issuer or any paying agent hereunder, as required by this
Section, such sums to be held by the Trustee upon the trusts herein contained. 
 Anything in this Section to the contrary notwithstanding,
the agreement to hold sums in trust as provided in this Section is subject to the provisions of Section 9.03 and 9.04. 

Section 3.05. Certificate of the Issuer. The Issuer will deliver to the Trustee, on or before a date not more than 120 days after
the end of each fiscal year of the Issuer ending after the date of this Indenture for which there is any series of Securities Outstanding, a written statement signed by the following officers (one of whom shall be the principal executive, financial
or accounting officer of the Issuer): the chairman, the president or a vice president, and by the treasurer, an assistant treasurer, the comptroller, an assistant comptroller, the secretary or the assistant secretary of the Issuer, stating whether
or not, after a review under each signer’s supervision of the activities of the Issuer during such year and of the Issuer’s performance under this Indenture, to the best knowledge, based on such review, of the signers thereof, the Issuer
has fulfilled all of its obligations, conditions and covenants under this Indenture throughout such year, and, if there has been a default in the fulfillment of any such obligation, condition or covenant specifying each default and the nature and
status thereof. 
 Section 3.06. Securityholders Lists. If and so long as the Trustee shall not be the Security registrar for
the Securities of any series, the Issuer will furnish or cause to be furnished to the Trustee a list in such form as the Trustee may reasonably require of the names and addresses of the holders of the Securities of such series pursuant to
Section 312 of the Trust Indenture Act of 1939 (a) semi-annually not more than 15 days after each record date for the payment of interest on such Securities, as hereinabove specified, as of such record date and on dates to be determined
pursuant to Section 2.03 for non-interest bearing securities in each year, and (b) at such other times as the Trustee may request in writing, within thirty days after receipt by the Issuer of any such request as of a date not more than 15
days prior to the time such information is furnished. 
 Section 3.07. Reports by the Issuer. At any time when any Securities
are Outstanding, the Issuer covenants to provide to the Trustee, within 15 days after the Issuer is required to file the same with the Commission, copies of the annual 

  
 21 

 
reports and of the information, documents, and other reports which the Issuer may be required to file with the Commission pursuant to Section 13 or Section 15(d) of the Securities
Exchange Act of 1934 or pursuant to Section 314 of the Trust Indenture Act of 1939. 
 The receipt of such report by the Trustee shall
not constitute actual or constructive knowledge or notice of any information contained therein on behalf of the Trustee. 

Section 3.08. Reports by the Trustee. Any Trustee’s report required under Section 313(a) of the Trust Indenture Act of
1939 shall be transmitted on or before July 15 in each year following the date hereof, so long as any Securities are Outstanding hereunder, and shall be dated as of a date convenient to the Trustee no more than 60 nor less than 45 days prior
thereto. At the time it delivers such report, the Trustee shall deliver a copy thereof to the Issuer. 
 ARTICLE 4 

REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS
ON EVENT OF DEFAULT 
 Section 4.01. Event of Default Defined;
Acceleration of Maturity; Waiver of Default. “Event of Default” with respect to Securities of any series wherever used herein, means each one of the following events which shall have occurred and be continuing (whatever the
reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental
body): 
 (a) default in the payment of any installment of interest upon any of the Securities of such series as and when the same shall
become due and payable, and continuance of such default for a period of 30 days; or 
 (b) default in the payment of all or any part of the
principal on any of the Securities of such series as and when the same shall become due and payable either at maturity, upon redemption, by declaration or otherwise; or 

(c) default in the payment of any sinking fund installment as and when the same shall become due and payable by the terms of the Securities of
such series; or 
 (d) default in the performance, or breach, of any covenant or warranty of the Issuer in respect of the Securities of such
series (other than a covenant or warranty in respect of the Securities of such series a default in whose performance or whose breach is elsewhere in this Section specifically dealt with), and continuance of such default or breach for a period of 90
days after there has been given, by registered or certified mail, to the Issuer by the Trustee or to the Issuer and the Trustee by the Holders of at least 25% in aggregate principal amount of the Outstanding Securities of any series affected
thereby, a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or 

  
 22 

 (e) a court having jurisdiction in the premises shall enter a decree or order for relief in
respect of the Issuer in an involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee or sequestrator (or similar official) of the
Issuer or for any substantial part of its property or ordering the winding up or liquidation of the Issuer’s affairs, and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or 

(f) the Issuer shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law at the date of this Indenture
or hereafter in effect, or consent to the entry of an order for relief in an involuntary case under any such law, or consent to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee or sequestrator (or
similar official) of the Issuer or for any substantial part of its property, or make any general assignment for the benefit of creditors; 

(g) an event of default, as defined in any indenture or instrument evidencing or securing or under which the Issuer has at the date of this
Indenture or shall hereafter have outstanding, any Indebtedness in an amount exceeding $100,000,000, which default shall involve (i) the failure by the Issuer to make any payment when such Indebtedness is due and payable after demand has been
made and the passage of any applicable grace period and such failure shall have continued for a period of 60 days after written notice thereof to the Issuer and the Trustee by the holders of not less than 25% in aggregate principal amount of the
Securities of such series or (ii) a default in the payment of interest, premium, principal or a default in the payment of a sinking fund or redemption payment, which shall have resulted in such Indebtedness having been accelerated so that the
same shall be or become due and payable prior to the date on which the same would otherwise become due and payable, and such acceleration shall not be stayed, rescinded or annulled within ten days after written notice thereof to the Issuer and the
Trustee by the holders of at least 25% in aggregate principal amount of the Securities of such series; provided, however, that if such event of default under such indenture or instrument shall be remedied or cured by the Issuer or be
waived by the holders of such Indebtedness before any judgment or decree for the payment of the moneys due shall have been obtained or entered, then the Event of Default hereunder by reason thereof shall be deemed likewise to have been thereupon
remedied, cured or waived without further action upon the part of either the Trustee or any of the holders of the Securities of such series; or 

(h) any other Event of Default provided in the supplemental indenture or provided in or pursuant to the resolution of the Board of Directors
under which such series of Securities is issued or in the form of Security for such series. 

  
 23 

 If an Event of Default with respect to Securities of such series occurs and is continuing, then,
and in each and every such case, unless the principal of all of the Securities of such series shall have already become due and payable, either the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities of such
series then Outstanding hereunder (each such series voting as a separate class) by notice in writing to the Issuer (and to the Trustee if given by Securityholders), may declare the entire principal (or, if the Securities of such series are Original
Issue Discount Securities, such portion of the principal amount as may be specified in the terms of such series) of all Securities of such series and the interest accrued thereon, if any, to be due and payable immediately, and upon any such
declaration the same shall become immediately due and payable. 
 The foregoing provisions, however, are subject to the condition that if,
at any time after the principal (or, if the Securities are Original Issue Discount Securities, such portion of the principal as may be specified in the terms thereof) of the Securities of any series shall have been so declared due and payable, and
before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Issuer shall pay or shall deposit with the Trustee a sum sufficient to pay all matured installments of interest upon all
the Securities of such series and the principal of any and all Securities of such series which shall have become due otherwise than by acceleration (with interest upon such principal and, to the extent that payment of such interest is enforceable
under applicable law, on overdue installments of interest, at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such series to the date of such payment or
deposit) and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of
negligence or bad faith, and if any and all Events of Default under the Indenture, other than the non-payment of the principal of Securities which shall have become due by acceleration, shall have been cured, waived or otherwise remedied as provided
herein—then and in every such case the holders of a majority in aggregate principal amount of all the Securities of such series, each series voting as a separate class, then Outstanding, by written notice to the Issuer and to the Trustee, may
waive all defaults with respect to such series and rescind and annul such declaration and its consequences, but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent
thereon. 
 For all purposes under this Indenture, if a portion of the principal of any Original Issue Discount Securities shall have been
accelerated and declared due and payable pursuant to the provisions hereof, then, from and after such declaration, unless such declaration has been rescinded and annulled, the principal amount of such Original Issue Discount Securities shall be
deemed, for all purposes hereunder, to be such portion of the principal thereof as shall be due and 

  
 24 

 
payable as a result of such acceleration, and payment of such portion of the principal thereof as shall be due and payable as a result of such acceleration, together with interest, if any,
thereon and all other amounts owing thereunder, shall constitute payment in full of such Original Issue Discount Securities. 
 The Trustee
shall not be charged with notice of any event of default referred to in Section 4.01(d)-(g) unless (i) an officer of the Trustee assigned to its Corporate Trustee Administration Department shall have actual knowledge thereof or
(ii) the Trustee shall have received written notice thereof from the Issuer, the holder of any Debt referred to in Section 4.01(g) or the holders of not less than 25% in aggregate principal amount of the Securities of any series. 

Section 4.02. Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Issuer covenants that (x) in case default
shall be made in the payment of any installment of interest on any of the Securities of any series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (y) in case default shall
be made in the payment of all or any part of the principal of any of the Securities of any series when the same shall have become due and payable, whether upon maturity of the Securities of such series or upon any redemption or by declaration or
otherwise—then upon demand of the Trustee, the Issuer will pay to the Trustee for the benefit of the Holders of the Securities of such series the whole amount that then shall have become due and payable on all Securities of such series for
principal or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same
rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such series); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of
collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee
except as a result of its negligence or bad faith. 
 Until such demand is made by the Trustee, the Issuer may pay the principal of and
interest on the Securities of any series to the registered holders, whether or not the principal of and interest on the Securities of such series be overdue. 

In case the Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee, in its own name and as trustee of an express trust,
shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such
judgment or final decree against the Issuer or other obligor upon such Securities 

  
 25 

 
and collect in the manner provided by law out of the property of the Issuer or other obligor upon such Securities, wherever situated, the moneys adjudged or decreed to be payable. 

In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States
Code or any other applicable Federal or state bankruptcy, insolvency or other similar 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 Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Issuer or other obligor upon the Securities of any series, or to the creditors or property of the Issuer or
such other obligor, the Trustee, irrespective of whether the principal of any Securities 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, shall be entitled and empowered, by intervention in such proceedings or otherwise: 
 (a) to file and prove
a claim or claims for the whole amount of principal and interest (or, if the Securities of any series are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of such series) owing and unpaid in
respect of the Securities of any series, and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor
Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of
the Securityholders allowed in any judicial proceedings relative to the Issuer or other obligor upon the Securities of any series, or to the creditors or property of the Issuer or such other obligor, 

(b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a
trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and 

(c) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with
respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Securityholders to make payments to the Trustee, and,
in the event that the Trustee shall consent to the making of payments directly to the Securityholders, to pay to the Trustee such amounts as shall be sufficient to cover reasonable compensation to the Trustee, each predecessor Trustee and their

  
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respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee except as a result of negligence or
bad faith and all other amounts due to the Trustee or any predecessor Trustee pursuant to Section 5.06. 
 Nothing herein contained
shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan or reorganization, arrangement, adjustment or composition affecting the Securities of any series or the
rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar person. 

All rights of action and of asserting claims under this Indenture, or under any of the Securities, may be enforced by the Trustee without the
possession of any of the Securities or the production thereof on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any
recovery of judgment, subject to the payment of the expenses, liabilities incurred, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the holders of
the Securities in respect of which such action was taken. 
 In any proceedings brought by the Trustee (and also 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 Securities in respect to which such action was taken, and it shall not be necessary to make
any holders of such Securities parties to any such proceedings. 
 Section 4.03. Application of Proceeds. Any moneys collected
by the Trustee pursuant to this Article in respect of any series shall be applied in the following order at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal or interest, upon presentation
of the several Securities in respect of which monies have been collected and stamping (or otherwise noting) thereon the payment, or issuing Securities of such series in reduced principal amounts in exchange for the presented Securities of like
series if only partially paid, or upon surrender thereof if fully paid: 
 FIRST: To the payment of costs and expenses
applicable to such series in respect of which monies have been collected, including reasonable compensation to the Trustee and each predecessor Trustee and their respective agents and attorneys and of all expenses and liabilities incurred, and all
advances made, by the Trustee and each predecessor Trustee except as a result of negligence or bad faith, and all other amounts due to the Trustee or any predecessor Trustee pursuant to Section 5.06; 

  
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 SECOND: In case the principal of the Securities of such series in respect of
which moneys have been collected shall not have become and be then due and payable, to the payment of interest on the Securities of such series in default in the order of the maturity 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 same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in such Securities,
such payments to be made ratably to the persons entitled thereto, without discrimination or preference; 
 THIRD: In case the
principal of the Securities of such series in respect of which moneys have been collected shall have become and shall be then due and payable, to the payment of the whole amount then owing and unpaid upon all the Securities of such series for
principal and interest, with interest upon the overdue principal, and (to the extent that such interest has been collected by the Trustee) upon overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the
case of Original Issue Discount Securities) specified in the Securities of such series; and in case such moneys shall be insufficient to pay in full the whole amount so due and unpaid upon the Securities of such series, then to the payment of such
principal and interest or Yield to Maturity, without preference or priority of principal over interest or Yield to Maturity, or of interest or Yield to Maturity over principal, or of any installment of interest over any other installment of
interest, or of any Security of such series over any other Security of such series, ratably to the aggregate of such principal and accrued and unpaid interest or Yield to Maturity; and 

FOURTH: To the payment of the remainder, if any, to the Issuer or any other person lawfully entitled thereto. 

Section 4.04. Suits for Enforcement. In case an Event of Default has occurred, has not been waived and is continuing, 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 the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or
in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture or to enforce any other legal or equitable right vested in the
Trustee by this Indenture or by law. 
 Section 4.05. Restoration of Rights on Abandonment of Proceedings. In case the Trustee
shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned for any reason, or shall have been determined adversely to the Trustee, then and in every such

  
 28 

 
case the Issuer and the Trustee shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Issuer, the Trustee and the
Securityholders shall continue as though no such proceedings had been taken. 
 Section 4.06. Limitations on Suits by
Securityholders. No Holder of any Security of any series shall have any right by virtue or by availing of any provision of this Indenture to institute any action or proceeding at law or in equity or in bankruptcy or otherwise upon or under or
with respect to this Indenture, or for the appointment of a trustee, receiver, liquidator, custodian or other similar official or for any other remedy hereunder, unless such Holder previously shall have given to the Trustee written notice 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 Securities of such series then Outstanding shall have made written request upon the Trustee to institute
such action or proceedings in its own name as Trustee hereunder and shall have offered to the Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities 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 failed to institute any such action or proceeding and no direction inconsistent with such written request shall have been given to the Trustee pursuant to
Section 4.09; it being understood and intended, and being expressly covenanted by the taker and Holder of every Security with every other taker and Holder and the Trustee, that no one or more Holders of Securities of any series shall have any
right in any manner whatever by virtue or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of any other such Holder of Securities, 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 Holders of Securities of the applicable series. For the protection and enforcement of the provisions of
this Section, each and every Securityholder and the Trustee shall be entitled to such relief as can be given either at law or in equity. 

Section 4.07. Unconditional Right of Securityholders to Institute Certain Suits. Notwithstanding any other provision in this
Indenture and any provision of any Security, the right of any Holder of any Security to receive payment of the principal of and interest on such Security on or after the respective due dates expressed or provided for in such Security, or to
institute suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder. 

Section 4.08. Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default. Except as provided in Sections 2.09 and
4.06, no right or remedy herein conferred upon or reserved to the Trustee or to the Securityholders is intended to be exclusive of any other right or remedy, and every right and 

  
 29 

 
remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The
assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

No delay or omission of the Trustee or of any Securityholder to exercise any right or power accruing upon any Event of Default occurring and
continuing as aforesaid shall impair any such right or power or shall be construed to be a waiver of any such Event of Default or an acquiescence therein; and, subject to Section 4.06, every power and remedy given by this Indenture or by law to
the Trustee or to the Securityholders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Securityholders. 

Section 4.09. Control by Securityholders. The Holders of a majority in aggregate principal amount of the Securities of each series
affected (with each series voting as a separate class) at the time Outstanding shall have the right to direct the time, method, and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power
conferred on the Trustee with respect to the Securities of such series by this Indenture; provided that such direction shall not be otherwise than in accordance with law and the provisions of this Indenture and provided further that
(subject to the provisions of Section 5.01) the Trustee shall have the right to decline to follow any such direction if the Trustee, being advised by counsel, shall determine that the action or proceeding so directed may not lawfully be taken
or if the Trustee in good faith by its board of directors, the executive committee or a trust committee of directors or Responsible Officers of the Trustee shall determine that the action or proceedings so directed would involve the Trustee in
personal liability or if the Trustee in good faith shall so determine that the actions or forbearances specified in or pursuant to such direction would be unduly prejudicial to the interests of Holders of the Securities of all series so affected not
joining in the giving of said direction, it being understood that (subject to Section 5.01) the Trustee shall have no duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders. 

Nothing in this Indenture shall impair the right of the Trustee in its discretion to take any action deemed proper by the Trustee and which is
not inconsistent with such direction or directions by Securityholders. 
 Section 4.10. Waiver of Past Defaults. Prior to a
declaration of the acceleration of the maturity of the Securities of any series as provided in Section 4.01, the Holders of a majority in aggregate principal amount of the Securities of such series at the time Outstanding (each such series
voting as a separate class) may on behalf of the Holders of all the Securities of such series waive any past default or Event of Default described in clause (d) or (g) of Section 4.01 which

  
 30 

 
relates to less than all series of Securities then Outstanding, except a default in respect of a covenant or provision hereof which cannot be modified or amended without the consent of each
Holder affected as provided in Section 7.02. Prior to a declaration of acceleration of the maturity of the Securities of any series as provided in Section 4.01, the Holders of Securities of a majority in principal amount of all the
Securities then Outstanding (voting as one class) may on behalf of all Holders waive any past default or Event of Default referred to in said clause (d) or (g) which relates to all series of Securities then Outstanding, or described in
clause (e) or (f) of Section 4.01, except a default in respect of a covenant or provision hereof which cannot be modified or amended without the consent of the Holder of each Security affected as provided in Section 7.02. In the
case of any such waiver, the Issuer, the Trustee and the Holders of the Securities of each series affected shall be restored to their former positions and rights hereunder, respectively. 

Upon any such waiver, such default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default
arising therefrom shall be deemed to have been cured, and not to have occurred for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon. 

Section 4.11. Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall give to the
Securityholders of any series, as the names and addresses of such Holders appear on the registry books, notice by mail of all defaults known to the Trustee which have occurred with respect to such series, such notice to be transmitted within 90 days
after the occurrence thereof, unless such defaults shall have been cured before the giving of such notice (the term “default” or “defaults” for the purposes of this Section being hereby defined to mean any event or
condition which is, or with notice or lapse of time or both would become, an Event of Default); provided that, except in the case of default in the payment of the principal of or interest on any of the Securities of such series, or in the
payment of any sinking or purchase fund installment with respect to the Securities of such series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or a trust committee of
directors or trustees and/or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the Securityholders of such series. 

Section 4.12. Right of Court to Require Filing of Undertaking to Pay Costs. All parties to this Indenture agree, and each Holder
of any Security by his 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, suffered 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 

  
 31 

 
assess reasonable costs, including reasonable attorneys’ fees, 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; but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder or group of Securityholders of any series holding in the aggregate more than 10% in aggregate
principal amount of the Securities of such series, or, in the case of any suit relating to or arising under clauses (d) or (g) of Section 4.01 (if the suit relates to Securities of more than one but less than all series), 10% in
aggregate principal amount of Securities Outstanding affected thereby, or in the case of any suit relating to or arising under clauses (d) or (g) (if the suit relates to all the Securities then Outstanding), (e) or (f) of
Section 4.01, 10% in aggregate principal amount of all Securities Outstanding, or to any suit instituted by any Securityholder for the enforcement of the payment of the principal of or interest on any Security on or after the due date expressed
in such Security. 
 ARTICLE 5 

CONCERNING THE TRUSTEE 

Section 5.01. Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect to the Holders of any
series of Securities issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a particular series and after the curing or waiving of all Events of Default which may have occurred with respect to
such series, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default with respect to the Securities of a series has occurred (which has not been cured or waived) the Trustee
shall with respect to such series of Securities exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the
conduct of his own affairs. 
 No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent
action, its own negligent failure to act or its own willful misconduct, except that 
 (a) prior to the occurrence of an Event of Default
with respect to the Securities of any series and after the curing or waiving of all such Events of Default with respect to such series which may have occurred: 

(i) the duties and obligations of the Trustee with respect to the Securities of such series 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 

  
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 (ii) in the absence of bad faith 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 statements, certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case
of any such statements, certificates or opinions which by any provision 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; 
 (b) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer
or Responsible Officers of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; and 

(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 pursuant to Section 4.09 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.

 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, if there shall be reasonable ground for believing that the repayment of such funds or adequate indemnity against such liability is not
reasonably assured to it. 
 The provisions of this Section 5.01 are in furtherance of and subject to Sections 315 and 316 of the Trust
Indenture Act of 1939. 
 Section 5.02. Certain Rights of the Trustee. In furtherance of and subject to the Trust Indenture Act
of 1939, and subject to Section 5.01: 
 (a) the Trustee may rely and shall be protected in acting or refraining from acting upon any
resolution, Officer’s Certificate or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, debenture, note, coupon, security or other paper or document believed by it 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 Issuer mentioned herein shall
be sufficiently evidenced by an Officer’s Certificate (unless other 

  
 33 

 evidence in respect thereof be herein specifically prescribed); and any resolution of the Board of Directors may
be evidenced to the Trustee by a copy thereof certified by the secretary or an assistant secretary of the Issuer; 
 (c) the Trustee may
consult with counsel and any advice or Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted to be taken 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 trusts or powers vested in it by this Indenture
at the request, order or direction of any of the Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities
which might be incurred therein or thereby; 
 (e) the Trustee shall not be liable for any action taken or omitted by it in good faith and
believed by it to be authorized or within the discretion, rights or powers conferred upon it by this Indenture; 
 (f) prior to the
occurrence of an Event of Default hereunder and after the curing or waiving of all Events of Default, 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, consent, order, approval, appraisal, bond, debenture, note, coupon, security, or other paper or document unless requested in writing so to do by the Holders of not less than a majority in aggregate principal amount
of the Securities of all series affected then Outstanding; provided that, if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the
opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require reasonable indemnity against such expenses or liabilities as a condition to proceeding; the
reasonable expenses of every such investigation shall be paid by the Issuer or, if paid by the Trustee or any predecessor trustee, shall be repaid by the Issuer upon demand; 

(g) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or
attorneys not regularly in its employ and the Trustee shall not be responsible for any misconduct or negligence on the part of any such agent or attorney appointed with due care by it hereunder; and 

(h) The permissive rights of the Trustee to do things enumerated in this Indenture will not be construed as a duty unless so specified
herein.
 (i) In no event will the Trustee be responsible or liable for special, indirect, punitive or consequential loss or damage of any
kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss of damage and regardless of the form of action.

Section 5.03. Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof. The
recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken 

  
 34 

 
as the statements of the Issuer, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representation as to the validity or sufficiency of this Indenture
or of the Securities. The Trustee shall not be accountable for the use or application by the Issuer of any of the Securities or of the proceeds thereof. 

Section 5.04. Trustee and Agents May Hold Securities, Etc. The Trustee or any agent of the Issuer or the Trustee, in its
individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not the Trustee or such agent and may otherwise deal with the Issuer and receive, collect, hold and retain collections from
the Issuer with the same rights it would have if it were not the Trustee or such agent. 
 Section 5.05. Moneys Held by Trustee.
Subject to the provisions of Section 9.04 hereof, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other
funds except to the extent required by mandatory provisions of law. Neither the Trustee nor any agent of the Issuer or the Trustee shall be under any liability for interest on any moneys received by it hereunder. 

Section 5.06. Compensation and Indemnification of Trustee and Its Prior Claim. The Issuer covenants and agrees to pay to the
Trustee from time to time, and the Trustee shall be entitled to, reasonable compensation (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) and the Issuer covenants and agrees to pay
or reimburse the Trustee and each predecessor Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by or on behalf of it in accordance with any of the provisions of this Indenture (including the
reasonable compensation and the expenses and disbursements of its counsel and of all agents and other persons not regularly in its employ) except to the extent any such expense, disbursement or advance may arise from its negligence or bad faith. The
Issuer also covenants to indemnify the Trustee and each predecessor Trustee for, and to hold it harmless against, any loss, liability or expense arising out of or in connection with the acceptance or administration of this Indenture or the trusts
hereunder and the performance of its duties hereunder, including the costs and expenses of defending itself against or investigating any claim of liability in the premises, except to the extent such loss, liability or expense is due to the
negligence or bad faith of the Trustee or such predecessor Trustee. The obligations of the Issuer under this Section to compensate and indemnify the Trustee and each predecessor Trustee and to pay or reimburse the Trustee and each predecessor
Trustee for expenses, disbursements and advances shall constitute additional Indebtedness hereunder and shall survive the satisfaction and discharge of this Indenture. Such additional Indebtedness shall be a senior claim to that of the Securities
upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the holders of particular Securities, and the Securities are hereby subordinated to such senior claim. 

  
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 Section 5.07. Right of Trustee to Rely on Officer’s Certificate, Etc. Subject to
Sections 5.01 and 5.02, whenever in the administration of the trusts of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering or omitting any action hereunder, such matter
(unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officer’s Certificate delivered to
the Trustee, and such certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted by it under the provisions of this Indenture upon the faith
thereof. 
 The rights, privileges, protections, immunities and benefits given to the Trustee, including its right to be indemnified, are
extended to, and will be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder. 

Section 5.08. Persons Eligible for Appointment as Trustee. The Trustee for each series of Securities hereunder shall at all times
be a corporation having a combined capital and surplus of at least $50,000,000, and which is eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act of 1939. If such corporation publishes reports of condition at
least annually, pursuant to law or to the requirements of a Federal, State or District of Columbia supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be
its combined capital and surplus as set forth in its most recent report of condition so published. 
 Section 5.09. Resignation and
Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving at least 30 days written notice prior to
the proposed resignation to the Issuer and by mailing notice thereof by first class mail to Holders of the applicable series of Securities at their last addresses as they shall appear on the Security register. Upon receiving such notice of
resignation, the Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered
to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation,
the resigning trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months
may, subject to the provisions of Section 4.12, 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. 

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

(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act of 1939 with respect
to any series of Securities after written request therefor by the Issuer or by any Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months; or 

(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act
of 1939 and shall fail to resign after written request therefor by the Issuer or by any Securityholder; or 
 (iii) the
Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed, or any public officer shall take
charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation; 
 then, in any such case,
the Issuer may remove the Trustee with respect to the applicable series of Securities by notifying the Trustee in writing at least 30 days prior to the proposed removal and appoint a successor trustee for such series by written instrument, in
duplicate, executed by order of the Board of Directors of the Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to Section 315(e) of the Trust Indenture Act of
1939, any Securityholder who has been a bona fide Holder of a Security or Securities of such series 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 with respect to such series. 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 Securities of each series at the time Outstanding may at any time remove
the Trustee with respect to Securities of such series by notifying the Trustee in writing at least 30 days prior to the proposed removal and appoint a successor trustee with respect to the Securities of such series by delivering to the Trustee so
removed, to the successor trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Securityholders. 

  
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 (d) Any resignation or removal of the Trustee with respect to any series and any appointment of a
successor trustee with respect to such series pursuant to any of the provisions of this Section 5.09 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 5.10. 

Section 5.10. Acceptance of Appointment by Successor Trustee. Any successor trustee appointed as provided in Section 5.09
shall execute and deliver to the Issuer and to its predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee with respect to all or any applicable series shall become
effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all rights, powers, duties and obligations with respect to such series of its predecessor hereunder, with like effect as if originally named
as trustee for such series hereunder; but, nevertheless, on the written request of the Issuer or of the successor trustee, upon payment of its charges then unpaid, the trustee ceasing to act shall, subject to Section 9.04, pay over to the
successor trustee all moneys at the time held by it hereunder and shall execute and deliver an instrument transferring to such successor trustee all such rights, powers, duties and obligations. Upon request of any such successor trustee, the Issuer
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 prior claim upon all property or
funds held or collected by such trustee to secure any amounts then due it pursuant to the provisions of Section 5.06. 
 If a successor
trustee is appointed with respect to the Securities of one or more (but not all) series, the Issuer, the predecessor Trustee and each successor trustee with respect to the Securities of any applicable series shall execute and deliver an indenture
supplemental hereto which shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the predecessor Trustee with respect to the Securities of any series as to which the
predecessor Trustee is not retiring shall continue to be vested in the predecessor Trustee, and shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts
hereunder by more than one trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such trustees co-trustees of the same trust and that each such trustee shall be trustee of a trust or trusts under
separate indentures. 
 Upon acceptance of appointment by any successor trustee as provided in this Section 5.10, the Issuer shall mail
notice thereof by first-class mail to the Holders of Securities of any series for which such successor trustee is acting as trustee at their last addresses as they shall appear in the Security register. If the acceptance of appointment is
substantially contemporaneous with the resignation, then the notice called for by the preceding sentence may be combined with the 

  
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notice called for by Section 5.09. If the Issuer 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 Issuer. 
 Section 5.11. Merger, Conversion, Consolidation or Succession to Business of
Trustee. Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation
succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided that such corporation shall be eligible under the provisions of Section 5.08, without the
execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. 

In case at the time such successor to the Trustee shall succeed to the trusts created by this Indenture any of the Securities of any series
shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor Trustee and deliver such Securities so authenticated; and, in case at that time any of the Securities
of any series shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor Trustee; and in all such cases such certificate shall have
the full force which it is anywhere in the Securities of such series or in this Indenture provided that the certificate of the Trustee shall have; provided, that the right to adopt the certificate of authentication of any predecessor Trustee
or to authenticate Securities of any series in the name of any predecessor Trustee shall apply only to its successor or successors by merger, conversion or consolidation. 

Section 5.12. Preferential Collection of Claims Against the Issuer. Reference is made to Section 311 of the Trust Indenture
Act of 1939, as amended. 
 The Issuer covenants with the Trustee that it will provide the Trustee with sufficient information so as to
enable the Trustee to determine whether or not the Trustee is obliged, in respect of any payments to be made by it pursuant to this Indenture, to make any withholding or deduction pursuant to an agreement described in Section 1471(b) of the Code or
otherwise imposed pursuant to Sections 1471 through 1474 of the Code and any regulations, or agreements thereunder or official interpretations thereof or any intergovernmental agreement between the United States and another jurisdiction facilitating
the implementation thereof (or any law implementing such an intergovernmental agreement). The Trustee shall be entitled to deduct FATCA Withholding Tax, and shall have no obligation to gross-up any payment hereunder or to pay any additional amount
as a result of such FATCA Withholding Tax. 
 ARTICLE 6 

CONCERNING THE SECURITYHOLDERS 

Section 6.01. Evidence of Action Taken by Securityholders. Any request, demand, authorization, direction, notice, consent, waiver
or other action provided by this Indenture to be given or taken by a specified percentage in principal amount of the Securityholders of any or all series may be embodied in and evidenced by one or more instruments of substantially similar tenor
signed by such specified percentage of Securityholders in person or by agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the
Trustee. Proof of execution of any instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to Section 5.01 and 5.02) conclusive in favor of the Trustee and the Issuer, if made in
the manner provided in this Article. 

  
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 Section 6.02. Proof of Execution of Instruments and of Holding of Securities; Record
Date. Subject to Sections 5.01 and 5.02, the execution of any instrument by a Securityholder or his agent or proxy may be proved in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as
shall be reasonably satisfactory to the Trustee. The holding of Securities shall be proved by the Security register or by a certificate of the registrar thereof. The Issuer may set a record date for purposes of determining the identity of holders of
Securities of any series entitled to vote or consent to any action referred to in Section 6.01 which record date may be set at any time or from time to time by notice to the Trustee, for any date or dates (in the case of any adjournment or
reconsideration) not more than 60 days nor less than five days prior to the proposed date of such vote or consent, and thereafter, notwithstanding any other provisions hereof, only holders of Securities of such series of record on such record date
shall be entitled to so vote or give such consent or revoke such vote or consent. 
 Section 6.03. Holders to Be Treated as
Owners. The Issuer, the Trustee and any agent of the Issuer or the Trustee may deem and treat the person in whose name any Security shall be registered upon the Security register for such series as the absolute owner of such Security (whether or
not such Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the principal of and, subject to the provisions of this Indenture, interest on such
Security and for all other purposes; and neither the Issuer nor the Trustee nor any agent of the Issuer or the Trustee shall be affected by any notice to the contrary. All such payments so made to any such person, or upon his order, shall be valid,
and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Security. 

Section 6.04. Securities Owned by Issuer Deemed Not Outstanding. In determining whether the Holders of the requisite aggregate
principal amount of Outstanding Securities of any or all series have concurred in any direction, consent or waiver under this Indenture, Securities which are owned by the Issuer or any other obligor on the Securities or by any person directly or
indirectly controlling or controlled by or under direct or indirect common control with the Issuer or any other obligor on the Securities shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that
for the purpose of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver only Securities which the Trustee knows are so owned shall be so disregarded. Securities so owned which have been pledged in
good faith may be regarded as Outstanding if the pledgee establishes to the reasonable satisfaction of the Trustee the pledgee’s right so to act with respect to 

  
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such Securities and that the pledgee is not the Issuer or any other obligor upon the Securities or any person directly or indirectly controlling or controlled by or under direct or indirect
common control with the Issuer or any other obligor on the Securities. In case of a dispute as to such right, the advice of counsel shall be full protection in respect of any decision made by the Trustee in accordance with such advice. Upon request
of the Trustee, the Issuer shall furnish to the Trustee promptly an Officer’s Certificate listing and identifying all Securities, if any, known by the Issuer to be owned or held by or for the account of any of the above-described persons; and,
subject to Sections 5.01 and 5.02, the Trustee shall be entitled to accept such Officer’s Certificate as conclusive evidence of the facts therein set forth and of the fact that all Securities not listed therein are Outstanding for the purpose
of any such determination. 
 Section 6.05. Right of Revocation of Action Taken. At any time prior to (but not after) the
evidencing to the Trustee, as provided in Section 6.01, of the taking of any action by the Holders of the percentage in aggregate principal amount of the Securities of any or all series, as the case may be, specified in this Indenture in
connection with such action, any Holder of a Security the serial number of which is shown by the evidence to be included among the serial numbers of the Securities the Holders of which have consented to such action may, by filing written notice at
the Corporate Trust Office and upon proof of holding as provided in this Article, revoke such action so far as concerns such Security. Except as aforesaid any such action taken by the Holder of any Security shall be conclusive and binding upon such
Holder and upon all future Holders and owners of such Security and of any Securities issued in exchange or substitution therefor or on registration of transfer thereof, irrespective of whether or not any notation in regard thereto is made upon any
such Security. Any action taken by the Holders of the percentage in aggregate principal amount of the Securities of any or all series, as the case may be, specified in this Indenture in connection with such action shall be conclusively binding upon
the Issuer, the Trustee and the Holders of all the Securities affected by such action. 
 ARTICLE 7 

SUPPLEMENTAL INDENTURES 

Section 7.01. Supplemental Indentures Without Consent of Securityholders. The Issuer, when authorized by a resolution of its Board
of Directors (which resolution may provide general terms or parameters for such action and may provide that the specific terms of such action may be determined in accordance with or pursuant to an Issuer Order), and the Trustee may from time to time
and at any time enter into an indenture or indentures supplemental hereto for one or more of the following purposes: 
 (a) to convey,
transfer, assign, mortgage or pledge to the Trustee as security for the Securities of one or more series any property or assets; 

  
 41 

 (b) to evidence the succession of another corporation to the Issuer, or successive successions,
and the assumption by the successor corporation of the covenants, agreements and obligations of the Issuer pursuant to Article 8; 
 (c) to
add to the covenants of the Issuer such further covenants, restrictions, conditions or provisions as its Board of Directors and the Trustee shall consider to be for the protection of the Holders of Securities, and to make the occurrence, or the
occurrence and continuance, of a default in any such additional covenants, restrictions, conditions or provisions an Event of Default permitting the enforcement of all or any of the several remedies provided in this Indenture as herein set forth;
provided, that in respect of any such additional covenant, restriction, condition or provision such supplemental indenture may provide for a particular period of grace after default (which period may be shorter or longer than that allowed in
the case of other defaults) or may provide for an immediate enforcement upon such an Event of Default or may limit the remedies available to the Trustee upon such an Event of Default or may limit the right of the Holders of a majority in aggregate
principal amount of the Securities of such series to waive such an Event of Default; 
 (d) to cure any ambiguity or to correct or
supplement any provision contained herein or in any supplemental indenture, which may be defective or inconsistent with any other provision contained herein or in any supplemental indenture; or to make such other provisions in regard to matters or
questions arising under this Indenture or under any supplemental indenture as the Board of Directors may deem necessary or desirable; provided that no such action shall adversely affect the interests of the Holders of the Securities in any
material respect; 
 (e) to establish the form or terms of Securities of any series as permitted by Sections 2.01 and 2.03; and 

(f) to make provision with respect to the conversion rights, if any, of Holders of Securities pursuant to the requirements of Article 14
hereof; and 
 (g) to evidence and provide for the acceptance of appointment hereunder by a successor trustee with respect to the Securities
of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one trustee, pursuant to the requirements of
Section 5.10. 
 The Trustee is hereby authorized to join with the Issuer in the execution of any such supplemental indenture, to make
any further appropriate agreements and 

  
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stipulations which may be therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property thereunder, but the Trustee shall not be obligated to enter into
any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 Any
supplemental indenture authorized by the provisions of this Section may be executed without the consent of the Holders of any of the Securities at the time Outstanding, notwithstanding any of the provisions of Section 7.02. 

Section 7.02. Supplemental Indentures With Consent of Securityholders. With the consent (evidenced as provided in Article 6) of
the Holders of not less than a majority in aggregate principal amount of the Securities at the time Outstanding of each series affected by such supplemental indenture, the Issuer, when authorized by a resolution of its Board of Directors, and the
Trustee 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 of any
supplemental indenture or of modifying in any manner the rights of the Holders of the Securities of each such series; provided, that no such supplemental indenture shall (a) extend the final maturity of any Security, or reduce the
principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any amount payable on redemption thereof or reduce the amount of the principal of an Original Issue Discount Security that would be due and
payable upon an acceleration of the maturity thereof pursuant to Section 4.01 or the amount thereof provable in bankruptcy pursuant to Section 4.02, or impair or affect the right of any Securityholder to institute suit for the payment
thereof or, if the Securities provide therefor, any right of repayment at the option of the Securityholder without the consent of the Holder of each Security so affected, or adversely affect the right to convert any Security as provided in Article
14 or modify the provisions of this Indenture with respect to the subordination of the Securities in a manner adverse to the Holders, or (b) reduce the aforesaid percentage of Securities of any series, the consent of the Holders of which is
required for any such supplemental indenture, without the consent of the Holders of each Security so affected. 
 A supplemental indenture
which changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of holders of Securities of such
series with respect to such covenant or provision, shall be deemed not to affect the rights under this Indenture of the holders of Securities of any other series. 

Upon the request of the Issuer, accompanied by a copy of a resolution of the Board of Directors certified by the secretary or an assistant
secretary of the 

  
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Issuer authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of Securityholders as aforesaid and other documents, if any,
required by Section 6.01, the Trustee shall join with the Issuer in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise,
in which case the Trustee may in its discretion, but shall not be obligated to, enter into such supplemental indenture. 
 It shall not be
necessary for the consent of the Securityholders under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 

Promptly after the execution by the Issuer and the Trustee of any supplemental indenture pursuant to the provisions of this Section, the
Issuer shall mail a notice thereof by first class mail to the Holders of Securities of each series affected thereby at their addresses as they shall appear on the registry books of the Issuer, setting forth in general terms the substance of such
supplemental indenture. Any failure of the Issuer to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture. 

Section 7.03. Effect of Supplemental Indenture. Upon the execution of any supplemental indenture pursuant to the provisions
hereof, this Indenture shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the Trustee, the Issuer and the Holders of
Securities of each series affected thereby 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. 
 Section 7.04. Documents to Be
Given to Trustee. The Trustee, subject to the provisions of Sections 5.01 and 5.02, may receive an Officer’s Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article 7
complies with the applicable provisions of this Indenture. The Trustee shall also receive an Opinion of Counsel stating that such supplemental indenture has been duly authorized, executed, and delivered in accordance with the Indenture.

Section 7.05. Notation on Securities in Respect of Supplemental Indentures. Securities of any series authenticated and delivered
after the execution of any supplemental indenture pursuant to the provisions of this Article may bear a notation in form approved by the Trustee for such series as to any matter provided for by such supplemental indenture. If the Issuer or the
Trustee shall so determine, new Securities of any series so modified as to conform, in the opinion of the Trustee and the Board of Directors, to any modification of this 

  
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Indenture contained in any such supplemental indenture may be prepared by the Issuer, authenticated by the Trustee and delivered in exchange for the Securities of such series then Outstanding.

 Section 7.06. Subordination Unimpaired. No supplemental indenture executed pursuant to this Article 7 shall adversely
affect the rights of any holder of Senior Indebtedness under Article 13 without the consent of such holder. 
 ARTICLE 8 

CONSOLIDATION, MERGER, SALE OR CONVEYANCE 

Section 8.01. Issuer May Consolidate, Etc, on Certain Terms. The Issuer covenants that it will not merge or consolidate with any
other corporation or sell or convey all or substantially all of its assets to any Person, unless (a) either the Issuer shall be the continuing corporation, or the successor corporation or the Person which acquires by sale or conveyance
substantially all the assets of the Issuer (if other than the Issuer) shall be a corporation organized under the laws of the United States of America or any State thereof and shall expressly assume the due and punctual payment of the principal of
and interest on all the Securities, according to their tenor, and the due and punctual performance and observance of all of the covenants and conditions of this Indenture to be performed or observed by the Issuer and shall have provided for
conversion rights in accordance with Section 14.11, by supplemental indenture in form reasonably satisfactory to the Trustee, executed and delivered to the Trustee by such corporation, and (b) the Issuer or such successor corporation, as the
case may be, shall not, immediately after such merger or consolidation, or such sale or conveyance, be in default in the performance of any such covenant or condition of this Indenture. 

Section 8.02. Successor Corporation Substituted. In case of any such consolidation, merger, sale or conveyance, and following such
an assumption by the successor corporation, such successor corporation shall succeed to and be substituted for the Issuer, with the same effect as if it had been named herein. Such successor corporation may cause to be signed, and may issue either
in its own name or in the name of the Issuer prior to such succession any or all of the Securities issuable hereunder which theretofore shall not have been signed by the Issuer and delivered to the Trustee; and, upon the order of such successor
corporation instead of the Issuer and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver any Securities which previously shall have been signed and delivered by the
officers of the Issuer to the Trustee for authentication, and any Securities which such successor corporation thereafter shall cause to be signed and delivered to the Trustee for that purpose. All of the Securities so issued shall in all respects
have the same legal rank and benefit under this Indenture as the Securities theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Securities had been issued at the date of the execution hereof. 

  
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 In case of any such consolidation, merger, sale, lease or conveyance such changes in phraseology
and form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate. 
 In the event of any such
sale or conveyance (other than a conveyance by way of lease) the Issuer or any successor corporation which shall theretofore have become such in the manner described in this Article shall be discharged from all obligations and covenants under this
Indenture and the Securities and may be liquidated and dissolved. 
 Section 8.03. Opinion of Counsel to Trustee. The Trustee,
subject to the provisions of Sections 5.01 and 5.02, may receive an Opinion of Counsel, prepared in accordance with Section 10.05, as conclusive evidence that any such consolidation, merger, sale, lease or conveyance, and any such assumption,
and any such liquidation or dissolution, complies with the applicable provisions of this Indenture. 
 ARTICLE 9 

SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED
MONEYS 
 Section 9.01. Satisfaction and Discharge of Indenture. If at any time (a) the Issuer shall have
paid or caused to be paid the principal of and interest on all the Securities of any series Outstanding hereunder (other than Securities of such series which have been destroyed, lost or stolen and which have been replaced or paid as provided in
Section 2.09) as and when the same shall have become due and payable, or (b) the Issuer shall have delivered to the Trustee for cancellation all Securities of any series theretofore authenticated (other than any Securities of such series
which shall have been destroyed, lost or stolen and which shall have been replaced or paid as provided in Section 2.09) or (c) (i) all the Securities of such series not theretofore delivered to the Trustee for cancellation shall have
become due and payable, or are by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements reasonably satisfactory to the Trustee for the giving of notice of redemption, and
(ii) the Issuer shall have irrevocably deposited or caused to be deposited with the Trustee as trust funds the entire amount in cash (other than moneys repaid by the Trustee or any paying agent to the Issuer in accordance with
Section 9.04) or direct obligations of the United States of America, backed by its full faith and credit (“U.S. Government Obligations”), maturing as to principal and interest in such amounts and at such times as will insure
the availability of cash sufficient (in case U.S. Government Obligations have been so deposited, in the opinion of a nationally recognized firm of independent public accountants) to pay at maturity 

  
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or upon redemption all Securities of such series (other than any Securities of such series which shall have been destroyed, lost or stolen and which shall have been replaced or paid as provided
in Section 2.09) not theretofore delivered to the Trustee for cancellation, including principal and interest due or to become due on or prior to such date of maturity as the case may be, and if, in any such case, the Issuer shall also pay or
cause to be paid all other sums payable hereunder by the Issuer with respect to Securities of such series, then this Indenture shall cease to be of further effect with respect to Securities of such series (except as to (A) rights of
registration of transfer and exchange and conversion, if any, of Securities of such series, and the Issuer’s right of optional redemption, if any, (B) substitution of mutilated, defaced, destroyed, lost or stolen Securities,
(C) rights of holders to receive payments of principal thereof and interest thereon, upon the original stated due dates therefor (but not upon acceleration) and remaining rights of the holders to receive mandatory sinking fund payments, if any,
(D) the rights, obligations and immunities of the Trustee hereunder, (E) the rights of the Securityholders of such series as beneficiaries hereof with respect to the property so deposited with the Trustee payable to all or any of them and
(F) the obligations of the Issuer under Section 3.02), and the Trustee, on demand of the Issuer accompanied by an Officer’s Certificate and an Opinion of Counsel and at the cost and expense of the Issuer, shall execute proper
instruments acknowledging such satisfaction of and discharging this Indenture with respect to such series; provided, that the rights of Holders of the Securities to receive amounts in respect of principal of and interest on the Securities
held by them shall not be delayed longer than required by then-applicable mandatory rules or policies of any securities exchange upon which the Securities are listed. The Issuer agrees to reimburse the Trustee for any costs or expenses thereafter
reasonably and properly incurred and to compensate the Trustee for any services thereafter reasonably and properly rendered by the Trustee in connection with this Indenture or the Securities of such series. 

Section 9.02. Application by Trustee of Funds Deposited for Payment of Securities. Subject to Section 9.04, all moneys
deposited with the Trustee pursuant to Section 9.01 shall be held in trust and applied by it to the payment, either directly or through any paying agent (including the Issuer acting as its own paying agent), to the Holders of the particular
Securities of such series for the payment or redemption of which such moneys have been deposited with the Trustee, of all sums due and to become due thereon for principal and interest; but such money need not be segregated from other funds except to
the extent required by law. 
 Section 9.03. Repayment of Moneys Held by Paying Agent. In connection with the satisfaction and
discharge of this Indenture or any defeasance under Article 12 with respect to Securities of any series, all moneys then held by any paying agent under the provisions of this Indenture with respect to such series of Securities shall, upon demand of
the Issuer, be repaid to it or paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect to such moneys. 

  
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 Section 9.04. Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two
Years. Any moneys deposited with or paid to the Trustee or any paying agent for the payment of the principal of or interest on any Security of any series and not applied but remaining unclaimed for two years after the date upon which such
principal or interest shall have become due and payable, shall, upon the written request of the Issuer and unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Issuer by the
Trustee for such series or such paying agent, and the Holder of the Security of such series shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property laws, thereafter look only to the Issuer
for any payment which such Holder may be entitled to collect, and all liability of the Trustee or any paying agent with respect to such moneys shall thereupon cease provided, however, that the Trustee or such paying agent, before being
required to make any such repayment, may at the expense of the Issuer 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 Borough of Manhattan,
The City and State of 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 Issuer. 
 ARTICLE 10 

MISCELLANEOUS PROVISIONS 

Section 10.01. Incorporators, Stockholders, Officers and Directors of Issuer Exempt from Individual Liability. No recourse under
or upon any obligation, covenant or agreement contained in this Indenture, or in any Security, or because of any Indebtedness evidenced thereby, shall be had against any incorporator, as such or against any past, present or future stockholder,
officer or director, as such, of the Issuer or of any successor, either directly or through the Issuer or any successor, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable
proceeding or otherwise, all such liability being expressly waived and released by the acceptance of the Securities by the holders thereof and as part of the consideration for the issue of the Securities. 

Section 10.02. Provisions of Indenture for the Sole Benefit of Parties and Securityholders. Nothing in this Indenture or in the
Securities, expressed or implied, shall give or be construed to give to any person, firm or corporation, other than the parties hereto and their successors and the Holders of the Securities, any legal or equitable right, remedy or claim under this
Indenture or under any 

  
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covenant or provision herein contained, all such covenants and provisions being for the sole benefit of the parties hereto and their successors and of the Holders of the Securities. 

Section 10.03. Successors and Assigns of Issuer Bound by Indenture. All the covenants, stipulations, promises and agreements in
this Indenture contained by or in behalf of the Issuer shall bind its successors and assigns, whether so expressed or not. 

Section 10.04. Notices and Demands on Issuer, Trustee and Securityholders. Any notice or demand which by any provision of this
Indenture is required or permitted to be given or served by the Trustee or by the Holders of Securities to or on the Issuer may be given or served by being deposited postage prepaid, first-class mail (except as otherwise specifically provided
herein) addressed (until another address of the Issuer is filed by the Issuer with the Trustee) to GAIN Capital Holdings, Inc., Bedminster One, 135 Route 202/206, Bedminster, NJ 07921. Any notice, direction, request or demand by the Issuer or any
Securityholder to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes if in writing and by being deposited postage prepaid, first-class mail (except as otherwise specifically provided herein) addressed to
the Corporate Trust Office, Attention: Corporate Trust Department. 
 Where this Indenture provides for notice to Holders, such notice shall
be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder entitled thereto, at his last address as it appears in the Security register. In any case where notice to
Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. 

If the Securities of a series are deposited with a Depositary, such notice shall be given to each Holder thereof pursuant to the applicable
procedures of such Depositary. 
 Where this Indenture provides for notice in any manner, such notice may be waived in writing by the person
entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the
validity of any action taken in reliance upon such waiver. 
 In case, by reason of the suspension of or irregularities in regular mail
service, it shall be impracticable to mail notice to the Issuer and Securityholders when such notice is required to be given pursuant to any provision of this Indenture, then any manner of giving such notice as shall be reasonably satisfactory to
the Trustee shall be deemed to be a sufficient giving of such notice. 

  
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 Section 10.05. Officer’s Certificates and Opinions of Counsel; Statements to Be
Contained Therein. Upon any application or demand by the Issuer to the Trustee to take any action under any of the provisions of this Indenture, the Issuer shall furnish to the Trustee an Officer’s Certificate stating that all conditions
precedent provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent have been complied with, except that in the case of
any such application or demand as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or demand, no additional certificate or opinion need be furnished. 

Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or
covenant provided for in this Indenture (other than the certificate required by Section 3.05) shall include (a) a statement that the person making such certificate or opinion has read such covenant or condition, (b) a brief statement
as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based, (c) a statement that, in the opinion of such person, he has made such examination or
investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with and (d) a statement as to whether or not, in the opinion of such person, such condition or
covenant has been complied with. 
 Any certificate, statement or opinion of an officer of the Issuer may be based, insofar as it relates to
legal matters, upon a certificate or opinion of or representations by counsel, unless such officer knows that the certificate or opinion or representations with respect to the matters upon which his certificate, statement or opinion may be based as
aforesaid are erroneous. Any certificate, statement or opinion of counsel may be based, insofar as it relates to factual matters, information with respect to which is in the possession of the Issuer, upon the certificate, statement or opinion of or
representations by an officer of officers of the Issuer, unless such counsel knows that the certificate, statement or opinion or representations with respect to the matters upon which his certificate, statement or opinion may be based as aforesaid
are erroneous. 
 Any certificate, statement or opinion of an officer of the Issuer or of counsel may be based, insofar as it relates to
accounting matters, upon a certificate or opinion of or representations by an accountant or firm of accountants in the employ of the Issuer, unless such officer or counsel, as the case may be, knows that the certificate or opinion or representations
with respect to the accounting matters upon which his certificate, statement or opinion may be based as aforesaid are erroneous. 

  
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 Any certificate or opinion of any independent firm of public accountants filed with the Trustee
shall contain a statement that such firm is independent. 
 Section 10.06. Payments Due on Saturdays, Sundays and Holidays. If
the date of maturity of interest on or principal of the Securities of any series or the date fixed for redemption or repayment of any such Security shall not be a Business Day, then payment of interest or principal need not be made on such date, but
may be made on the next succeeding Business Day with the same force and effect as if made on the date of maturity or the date fixed for redemption or repayment, and no interest shall accrue on the payment so deferred for the period after such date.

 Section 10.07. Conflict of Any Provision of Indenture with Trust Indenture Act of 1939. If and to the extent that any
provision of this Indenture limits, qualifies or conflicts with the duties imposed by or with another provision (an “incorporated provision”) included in this Indenture by operation of Sections 310 to 318, inclusive, of the Trust
Indenture Act of 1939, such imposed duties or incorporated provision shall control. 
 Section 10.08. New York Law to Govern.
This Indenture and each Security shall be deemed to be a contract under the laws of the State of New York, and for all purposes shall be construed in accordance with the laws of such State, except as may otherwise be required by mandatory provisions
of law. 
 Section 10.09. 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 10.10. Effect of Headings.
The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 

Section 10.11. Separability Clause. In case any provision of this Indenture or in the Securities shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

The Trustee will not incur any liability for not performing any act or fulfilling any duty, obligation or responsibility hereunder by reason
of any occurrence beyond the control of such Person (including, but not limited to, any act or provision of any present or future law or regulation or governmental authority, any act of God or war, civil unrest, local or national disturbance or
disaster, any act of terrorism, or the unavailability of the Federal Reserve Bank wire or facsimile or other wire or communication facility). 

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

The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture by unsecured e-mail, facsimile transmission or
other similar unsecured electronic methods. If the party elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the
Trustee’s understanding of such instructions shall be controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions
notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The party providing electronic instructions agrees to assume all risks arising out of the use of such electronic methods to submit instructions and
directions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions and the risk of interception and misuse by third parties.

ARTICLE 11 

REDEMPTION OF SECURITIES AND SINKING FUNDS 

Section 11.01. Applicability of Article. The provisions of this Article shall be applicable to the Securities of any series which
are redeemable before their maturity or to any sinking fund for the retirement of Securities of a series except as otherwise specified as contemplated by Section 2.03 for Securities of such series. 

  
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 Section 11.02. Notice of Redemption; Partial Redemptions. Notice of redemption to the
Holders of Securities of any series to be redeemed as a whole or in part at the option of the Issuer shall be given by mailing notice of such redemption by first class mail, postage prepaid, at least 30 days and not more than 60 days prior to the
date fixed for redemption to such Holders of Securities of such series at their last addresses as they shall appear upon the registry books. Any notice which is mailed in the manner herein provided shall be conclusively presumed to have been duly
given, whether or not the Holder receives the notice. Failure to give notice by mail, or any defect in the notice to the Holder of any Security of a series designated for redemption as a whole or in part shall not affect the validity of the
proceedings for the redemption of any other Security of such series. 
 The notice of redemption to each such Holder shall specify the
principal amount of each Security of such series held by such Holder to be redeemed, the date fixed for redemption, the redemption price, the place or places of payment, that payment will be made upon presentation and surrender of such Securities,
that such redemption is pursuant to the mandatory or optional sinking fund, or both, if such be the case, that interest accrued to the date fixed for redemption will be paid as specified in such notice and that on and after said date interest
thereon or on the portions thereof to be redeemed will cease to accrue. In case any Security of a series is to be redeemed in part only the notice of redemption shall state the portion of the principal amount thereof to be redeemed and shall state
that on and after the date fixed for redemption, upon surrender of such Security, a new Security or Securities of such series in principal amount equal to the unredeemed portion thereof will be issued. 

The notice of redemption of Securities of any series to be redeemed at the option of the Issuer shall be given by the Issuer or, at the
Issuer’s request, by the Trustee in the name and at the expense of the Issuer. 
 On or prior to the redemption date specified in the
notice of redemption given as provided in this Section, the Issuer will deposit with the Trustee or with one or more paying agents (or, if the Issuer is acting as its own paying agent, set aside, segregate and hold in trust as provided in
Section 3.04) an amount of money sufficient to redeem on the redemption date all the Securities of such series so called for redemption at the appropriate redemption price, together with accrued interest to the date fixed for redemption. If
less than all the Outstanding Securities of a series are to be redeemed, the Issuer will deliver to the Trustee at least 10 days prior to the date on which notice of redemption is to be issued an Officer’s Certificate stating the aggregate
principal amount of Securities to be redeemed. 

  
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 If less than all the Securities of a series are to be redeemed, the Trustee shall select, by lot,
Securities of such Series to be redeemed in whole or in part. Securities may be redeemed in part in multiples equal to the minimum authorized denomination for Securities of such series or any multiple thereof. The Trustee shall promptly notify the
Issuer in writing of the Securities of such series selected for redemption and, in the case of any Securities of such series selected for partial redemption, the principal amount thereof to be redeemed. For all purposes of this Indenture, unless the
context otherwise requires, all provisions relating to the redemption of Securities of any series shall relate, in the case of any Security redeemed or to be redeemed only in part, to the portion of the principal amount of such Security which has
been or is to be redeemed. 
 Section 11.03. Payment of Securities Called for Redemption. If notice of redemption has been given
as above provided, the Securities or portions of Securities specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to the date fixed
for redemption, and on and after said date (unless the Issuer shall default in the payment of such Securities at the redemption price, together with interest accrued to said date) interest on the Securities or portions of Securities so called for
redemption shall cease to accrue and, except as provided in Sections 5.05 and 9.04, such Securities shall cease from and after the date fixed for redemption to be entitled to any benefit or security under this Indenture, and the Holders thereof
shall have no right in respect of such Securities except the right to receive the redemption price thereof and unpaid interest to the date fixed for redemption. On presentation and surrender of such Securities at a place of payment specified in said
notice, said Securities or the specified portions thereof shall be paid and redeemed by the Issuer at the applicable redemption price, together with interest accrued thereon to the date fixed for redemption; provided that any semiannual
payment of interest becoming due on or prior to the date fixed for redemption shall be payable to the Holders of such Securities registered as such on the relevant record date subject to the terms and provisions of Section 2.04 hereof. 

If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal shall, until paid or duly
provided for, bear interest from the date fixed for redemption at the rate of interest or Yield to Maturity (in the case of an Original Issue Discount Security) borne by the Security. 

Upon presentation of any Security redeemed in part only, the Issuer shall execute and the Trustee shall authenticate and deliver to or on the
order of the Holder thereof, at the expense of the Issuer, a new Security or Securities of such series , of authorized denominations, in principal amount equal to the unredeemed portion of the Security so presented. 

  
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 Section 11.04. Exclusion of Certain Securities from Eligibility for Selection for
Redemption. Securities shall be excluded from eligibility for selection for redemption if they are identified by registration and certificate number in a written statement signed by an authorized officer of the Issuer and delivered to the
Trustee at least 10 days prior to the last date on which notice of redemption may be given as being owned of record and beneficially by, and not pledged or hypothecated by either (a) the Issuer or (b) an entity specifically identified in
such written statement directly or indirectly controlling or controlled by or under direct or indirect common control with the Issuer. 

Section 11.05. Mandatory and Optional Sinking Funds. The minimum amount of any sinking fund payment provided for by the terms of
Securities of any series is herein referred to as a “mandatory sinking fund payment”, and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an
“optional sinking fund payment”. The date on which a sinking fund payment is to be made is herein referred to as the “sinking fund payment date”. 

In lieu of making all or any part of any mandatory sinking fund payment with respect to any series of Securities in cash, the Issuer may at
its option (a) deliver to the Trustee Securities of such series theretofore purchased or otherwise acquired (except upon redemption pursuant to the mandatory sinking fund) by the Issuer or receive credit for Securities of such series (not
previously so credited) theretofore purchased or otherwise acquired (except as aforesaid) by the Issuer and delivered to the Trustee for cancellation pursuant to Section 2.10, (b) receive credit for optional sinking fund payments (not
previously so credited) made pursuant to this Section, (c) receive credit for Securities of such series (not previously so credited) redeemed by the Issuer through any optional redemption provision contained in the terms of such series or
(d) which have been converted into Common Stock or otherwise acquired by the Issuer pursuant to the terms of such Securities. Securities so delivered or credited shall be received or credited by the Trustee at the sinking fund redemption price
specified in such Securities. 
 On or before the 15th day next preceding each sinking
fund payment date for any series, the Issuer will deliver to the Trustee a written statement (which need not contain the statements required by Section 10.05) signed by an authorized officer of the Issuer (a) specifying the portion of the
mandatory sinking fund payment to be satisfied by payment of cash and the portion to be satisfied by credit of Securities of such series, (b) stating that none of the Securities of such series has theretofore been so credited, (c) stating
that no defaults in the payment of interest or Events of Default with respect to such series have occurred (which have not been waived or cured) and are continuing and (d) stating whether or not the Issuer intends to exercise its right to make
an optional sinking fund payment with respect to such series and, if so, specifying the amount of such optional sinking fund payment which the Issuer intends to pay on or before the next 

  
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succeeding sinking fund payment date. Any Securities of such series to be credited and required to be delivered to the Trustee in order for the Issuer to be entitled to credit therefor as
aforesaid which have not theretofore been delivered to the Trustee shall be delivered for cancellation pursuant to Section 2.10 to the Trustee with such written statement (or reasonably promptly thereafter if acceptable to the Trustee). Such
written statement shall be irrevocable and upon its receipt by the Trustee the Issuer shall become unconditionally obligated to make all the cash payments or payments therein referred to, if any, on or before the next succeeding sinking fund payment
date. Failure of the Issuer, on or before any such sixtieth day, to deliver such written statement and Securities specified in this paragraph, if any, shall not constitute a default but shall constitute, on and as of such date, the irrevocable
election of the Issuer (i) that the mandatory sinking fund payment for such series due on the next succeeding sinking fund payment date shall be paid entirely in cash without the option to deliver or credit Securities of such series in respect
thereof and (ii) that the Issuer will make no optional sinking fund payment with respect to such series as provided in this Section. 

If the sinking fund payment or payments (mandatory or optional or both) to be made in cash on the next succeeding sinking fund payment date
plus any unused balance of any preceding sinking fund payments made in cash shall exceed $50,000 (or a lesser sum if the Issuer shall so request) with respect to the Securities of any particular series, such cash shall be applied on the next
succeeding sinking fund payment date to the redemption of Securities of such series at the sinking fund redemption price together with accrued interest to the date fixed for redemption. If such amount shall be $50,000 or less and the Issuer makes no
such request then it shall be carried over until a sum in excess of $50,000 is available. The Trustee shall select, in the manner provided in Section 11.02, for redemption on such sinking fund payment date a sufficient principal amount of
Securities of such series to absorb said cash, as nearly as may be, and shall (if requested in writing by the Issuer) inform the Issuer of the serial numbers of the Securities of such series (or portions thereof) so selected. The Trustee, in the
name and at the expense of the Issuer (or the Issuer, if it shall so request the Trustee in writing) shall cause notice of redemption of the Securities of such series to be given in substantially the manner provided in Section 11.02 (and with
the effect provided in Section 11.03) for the redemption of Securities of such series in part at the option of the Issuer. The amount of any sinking fund payments not so applied or allocated to the redemption of Securities of such series shall
be added to the next cash sinking fund payment for such series and, together with such payment, shall be applied in accordance with the provisions of this Section. Any and all sinking fund moneys held on the stated maturity date of the Securities of
any particular series (or earlier, if such maturity is accelerated), which are not held for the payment or redemption of particular Securities of such series shall be applied, together with other moneys, if necessary, sufficient for the purpose, to
the payment of the principal of, and interest on, the Securities of such series at maturity. 

  
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 On or prior to each sinking fund payment date, the Issuer shall pay to the Trustee in cash or
shall otherwise provide for the payment of all interest accrued to the date fixed for redemption on Securities to be redeemed on such sinking fund payment date. 

The Trustee shall not redeem or cause to be redeemed any Securities of a series with sinking fund moneys or mail any notice of
redemption of Securities for such series by operation of the sinking fund during the continuance of a default in payment of interest on such Securities or of any Event of Default except that, where the mailing of notice of redemption of any
Securities shall theretofore have been made, the Trustee shall redeem or cause to be redeemed such Securities, provided that it shall have received from the Issuer a sum sufficient for such redemption. Except as aforesaid, any moneys in the
sinking fund for such series at the time when any such default or Event of Default shall occur, and any moneys thereafter paid into the sinking fund, shall, during the continuance of such default or Event of Default, be deemed to have been collected
under Article 4 and held for the payment of all such Securities. In case such Event of Default shall have been waived as provided in Section 4.10 or the default cured on or before the sixtieth day preceding the sinking fund payment date in any
year, such moneys shall thereafter be applied on the next succeeding sinking fund payment date in accordance with this Section to the redemption of such Securities. 

ARTICLE 12 

DEFEASANCE 

Section 12.01. Issuer’s Option to Effect Defeasance. The Issuer may at its option, by Board Resolution, at any time,
elect to defease the Issuer’s obligations under the Outstanding Securities of any series and this Indenture in accordance with either Section 12.02 or Section 12.03 upon compliance with the conditions set forth below in this Article
12. Notwithstanding any such election, until such compliance the terms of the Securities of such series shall remain in full force and effect. 

Section 12.02. Defeasances and Discharge. Upon the Issuer’s exercise of the option set forth in Section 12.01
applicable to this Section, and after the expiration of the 90-day (or other) period referred to in clause (e)(ii) of Section 12.04, the Issuer shall be deemed to have been discharged from its obligations with respect to the Outstanding
Securities of such series on the date the conditions set forth below are satisfied (hereinafter, “defeasance”). For this purpose, such defeasance means that the Issuer shall be deemed to have paid and discharged the
entire indebtedness represented by the Outstanding Securities of such series and  

  
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to have satisfied all its other obligations under the Securities of such series and this Indenture insofar as the Securities of such series are concerned (and the Trustee, upon an Issuer Order
and at the expense of the Issuer, shall execute proper instruments acknowledging the same), except for the following which shall survive until otherwise terminated or discharged hereunder: (a) the rights of holders of Outstanding Securities of
such series to receive, solely from the trust fund described in Section 12.04 and as more fully set forth in such Section, payments in respect of the principal of and interest on the Securities of such series when such payments are due,
(b) the Issuer’s obligations with respect to such Securities of such series under Sections 2.08, 2.09 and 3.02, (c) the rights, powers, trusts, duties, and immunities of the Trustee hereunder, including but not limited to Article 5,
(d) the Issuer’s right of optional redemption, if any, (e) the rights of Holders to receive mandatory sinking fund payments, if any, and (f) this Article 12. Subject to compliance with this Article 12, the Issuer may exercise its
option under this Section 12.02 notwithstanding the prior exercise of its option under Section 12.03 with respect to the Securities of such series. 

Section 12.03. Covenant Defeasance. Upon the Issuer’s exercise of the option set forth in Section 12.01
applicable to this Section, and after the expiration of the 90-day (or other) period referred to in clause (e)(ii) of Section 12.04, the Issuer shall be released, on and after the date the conditions set forth below are satisfied, from its
obligations with respect to the Outstanding Securities of any series under any covenants established with respect to such series pursuant to Section 2.03(n) (hereinafter, “covenant defeasance”). For this purpose,
such covenant defeasance means that, with respect to the Outstanding Securities of such series, the Issuer may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such Section, whether
directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, and such omission to comply shall not constitute a
default or Event of Default under Section 4.01(d), but, except as specified above, the remainder of this Indenture and the Securities of such series shall be unaffected thereby. 

Section 12.04. Conditions to Defeasance. The following shall be the conditions to application of either Section 12.02
or Section 12.03 to the Outstanding Securities of any series. 
 (a) The Issuer shall irrevocably have deposited or caused to be
deposited with the Trustee as trust funds in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of the holders of Securities of such series (i) money in an amount,
or (ii) U.S. Government Obligations which through the scheduled payment of principal and interest, if any, in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment, money in an

  
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amount, or (iii) a combination thereof, sufficient, in each case, in the opinion of a nationally recognized firm of independent public accountants, to pay and discharge, and which shall be
applied by the Trustee to pay and discharge the principal of and interest, if any, on the Outstanding Securities of such series on the stated maturity of such principal or interest or earlier date of redemption. 

(b) No Event of Default or event which after notice or lapse of time or both would become an Event of Default with respect to the Securities
of such series shall have occurred and be continuing on the date of such deposit. 
 (c) Such defeasance or covenant defeasance shall not
cause the Trustee for the Securities of such series to have a conflicting interest as defined in Section 310(b) of the Trust Indenture Act of 1939 with respect to any Securities of the Issuer. 

(d) Such defeasance or covenant defeasance shall be permitted by, and shall not result in breach or violation of, or constitute a default
under, this Indenture or any other material agreement or instrument to which the Issuer is a party or by which it is bound. 
 (e) In the
case of an election under Section 12.02, the Issuer shall have delivered to the Trustee an Opinion of Counsel stating that the Issuer has received from, or there has been published by, the Internal Revenue Service a ruling to the effect that,
and based thereon such opinion shall confirm that, (i) the Holders of the Outstanding Securities of such series will not recognize income, gain or loss for Federal income tax purposes as a result of such defeasance and will be subject to
Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such defeasance had not occurred, and (ii) that after the passage of 90 days (or such other period of time as then required by the
non-insider preference provisions of any applicable federal bankruptcy laws) following the deposit, the trust funds will not be subject to the effect of any applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors’
rights generally, and (iii) that there would not occur any violation of the Investment Company Act of 1940, as amended, on the part of the Issuer, the trust funds representing such deposit or the Trustee as a result of such deposit and the
related exercise of the Issuer’s election under this Article 12. 
 (f) In the case of an election under Section 12.03, the Issuer
shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of the Outstanding Securities of such series will not recognize income, gain or loss for Federal income tax purposes as a result of such covenant defeasance and
will be subject to Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such covenant defeasance had not occurred. Such Opinion shall also cover the matters referred to in clauses
(ii) and (iii) of Section 12.04(e). 

  
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 (g) The Issuer shall have delivered to the Trustee an irrevocable Issuer Order to apply the
monies so deposited towards payment of all indebtedness on the Securities of such series at their stated maturity or earlier date of redemption, and an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent
provided for relating to either the defeasance under Section 12.02 or the covenant defeasance under Section 12.03 (as the case may be) have been complied with. The Trustee shall also receive an Opinion of Counsel stating that such
supplemental indenture has been duly authorized, executed, and delivered in accordance with the Indenture. 
 Section 12.05.
Deposited Money and U.S. Government Obligations to Be Held in Trust; Reinstatement; Miscellaneous. Subject to the provisions of Section 9.04, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the
Trustee pursuant to Section 12.04 in respect of the Outstanding Securities of any series shall be held in trust and applied by the Trustee, in accordance with the provisions of the Securities of such series and this Indenture, to the payment,
either directly or through any paying agent (including the Issuer acting as its own paying agent), as the Trustee may determine, to the holders of Securities of such series, of all sums due and to become due thereon in respect of principal and
interest, if any, but such money need not be segregated from other funds except to the extent required by law. 
 The Issuer shall pay and
indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 9.01 or 12.04 or the principal and interest received in respect thereof other than any such
tax, fee or other charge which by law is for the account of the Holders of the Outstanding Securities of such series. 
 If the Trustee is
unable to apply any money or U.S. Government Obligations in accordance with Section 9.01 or 12.04 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, the Issuer’s obligations under this Indenture and the Securities of such series shall be revived and reinstated as though no deposit had occurred pursuant to Section 9.01 or 12.04; provided that if the
Issuer has made any payment of principal of or interest on any Securities of such series because of the reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such Securities of such series to receive such
payment from the money or U.S. Government Obligations held by the Trustee. 
 ARTICLE 13 

SUBORDINATION OF SECURITIES 

Section 13.01. Securities Subordinate to Senior Indebtedness. The Issuer covenants and agrees, and each Holder of a
Security, by acceptance thereof, whether upon original issue or upon transfer or assignment, likewise covenants  

  
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and agrees, that, to the extent and in the manner hereinafter set forth, the payment of the principal of and interest on each and all of the Securities is hereby expressly made subordinate and
subject in right of payment to the prior payment in full of all Senior Indebtedness. 
 Section 13.02. Payment Over of Proceeds Upon
Dissolution, Etc. of the Issuer. In the event of any insolvency or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding in connection therewith, relative to the Issuer or to its
creditors, as such, or to its property, and in the event of any voluntary liquidation, dissolution or other winding up of the Issuer, whether or not involving insolvency or bankruptcy, then the holders of Senior Indebtedness shall be entitled to
receive payment in full of all amounts due or to become due on or in respect of all Senior Indebtedness before the Holders of the Securities are entitled to receive any payment on account of principal of or interest on the Securities, and to that
end (but subject to the power of a court of competent jurisdiction to make other equitable provision reflecting the rights conferred by the provisions of this Article upon the Senior Indebtedness and the holders thereof with respect to the
Securities and the Holders thereof by a lawful plan of reorganization under applicable bankruptcy law) the holders of Senior Indebtedness shall be entitled to receive any payment or distribution of any kind or character, whether in cash, property or
securities, which may be payable or deliverable in any such case or proceeding in respect of the Securities, except securities of the Issuer which are subordinate and subject in right of payment to the prior payment in full of all Senior
Indebtedness then outstanding. 
 In the event that, notwithstanding the foregoing, the Trustee or the Holder of any Security shall have
received any payment or distribution of any kind or character, whether in cash, property or securities (other than as aforesaid), before all Senior Indebtedness is paid in full or payment thereof provided for, and if such fact shall then have been
made known to the Trustee or, as the case may be, such Holder, then and in such event such payment or distribution shall be paid over or delivered forthwith to the trustee in bankruptcy, receiver, liquidating trustee, custodian, agent or other
Person making payment or distribution of assets or securities of the Issuer for application to the payment of all Senior Indebtedness remaining unpaid, to the extent necessary to pay all Senior Indebtedness in full, after giving effect to any
concurrent payment or distribution to or for the holders Senior Indebtedness. 
 In the event that any Securities are declared due and
payable before their final maturity because of the occurrence of an Event of Default (under circumstances when the provisions of the foregoing paragraph shall not be applicable), the holders of the Senior Indebtedness outstanding at the time such
Securities become due and payable because of such occurrence of an Event of Default shall be entitled to receive payment in full of all amounts due or to 

  
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become due or in respect of all Senior Indebtedness before the Holders of the Securities are entitled to receive any payment on account of the principal of or interest on the Securities. 

The consolidation of the Issuer with, or the merger of the Issuer into, another corporation or the liquidation or dissolution of the Issuer
following the conveyance or transfer of its properties and assets substantially as an entirety to another corporation upon the terms and conditions set forth in Article Eight shall not be deemed a dissolution, winding up, liquidation or
reorganization for the purposes of this Section if such other corporation shall, as a part of such consolidation, merger, conveyance or transfer, comply with the conditions set forth in Article Eight. 

Nothing in this Article shall apply to claims of, or payments to, the Trustee under or pursuant to Section 5.06. 

Section 13.03. No Payment When Senior Indebtedness in Default in Payment. In the event and during the continuation of any default
in the payment of principal of or interest on any Senior Indebtedness beyond any applicable period of grace, unless and until such default in payment shall have been cured or waived or shall have ceased to exist, or (b) in the event any
judicial proceeding shall be pending with respect to any such default in payment, then no payment of principal of or interest on the Securities shall be made by the Issuer; provided, however, that nothing in this Section shall prevent the
satisfaction of any sinking fund payment in accordance with Article Eleven by means of Securities redeemed or acquired prior to such default in payment or by means of conversion Securities. 

Section 13.04. Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the
Securities shall prevent (a) the Issuer, at any time except during the pendency of any case or proceeding, or any dissolution or other winding up referred to in Section 13.02 or under the other conditions described in Section 13.02 or
the conditions described in Section 13.03 from making payments at any time of principal of or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the
principal of or interest on the Securities if, at the time of such application, the Trustee did not have knowledge that such payment would have been prohibited by the provisions of this Article. 

Section 13.05. Subrogation to Rights of Holders of Senior Indebtedness. Subject to the payment in full of all Senior Indebtedness,
the Holders of the Securities shall be subrogated (to the extent of the payments or distributions made to the holders of such Senior Indebtedness pursuant to the provisions of this 

  
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Article) to the rights of the holders of such Senior Indebtedness to receive payments or distributions from the Issuer applicable to the Senior Indebtedness until the principal of (and premium,
if any) and interest on the Securities shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Indebtedness to which the Holders of the Securities or the Trustee would be entitled except for
the provisions of this Article, and no payments over pursuant to the provisions of this Article to the holders of Senior Indebtedness by Holders of the Securities or the Trustee, shall, as between the Issuer, its creditors other than holders of
Senior Indebtedness, and the Holders of the Securities, be deemed to be a payment or distribution by the Issuer to or on account of the Senior Indebtedness. 

Section 13.06. Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the
purpose of defining the relative rights of the Holders of the Securities, on the one hand, and the holders of Senior Indebtedness, on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended
to or shall impair, as between the Issuer and the Holders of the Securities, the obligation of the Issuer, which is absolute and unconditional, to pay to the Holders of the Securities the principal of and interest on the Securities as and when the
same shall become due and payable in accordance with their terms, or is intended to or shall effect the relative rights against the Issuer of the Holders of the Securities and creditors of the Issuer other than the holders of Senior Indebtedness,
nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the
holders of Senior Indebtedness to receive cash, property or securities of the Issuer otherwise payable or deliverable to the Trustee or such Holder. 

Section 13.07. Trustee to Effectuate Subordination. Each Holder of a Security by acceptance thereof, whether upon original issue
or upon transfer or assignment, authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article and appoints the Trustee his attorney-in-fact for any
and all such purposes. 
 Section 13.08. No Waiver of Subordination Provisions. No right of any present or future holder of any
Senior Indebtedness to enforce subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Issuer or by any act or failure to act, in good faith, by any such holder, or by
any noncompliance by the Issuer 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 

  
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the consent of or notice to the Holders of the Securities, without incurring responsibility to the Holders of the Securities and without impairing or releasing the subordination provided in this
Article or the obligations of the Holders of the Securities to the holders of the Senior Indebtedness, do any one or more of the following: (i) change the manner, place or terms of payment of, or renew or alter, Senior Indebtedness, or
otherwise amend or supplement in any manner Senior Indebtedness or any instrument evidencing the same or any agreement under which Senior Indebtedness is outstanding; (ii) sell, exchange, release 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; and (iv) exercise or refrain from exercising any rights against the Issuer and any other Person.

 Section 13.09. Notice to Trustee. The Issuer shall give prompt written notice to the Trustee of any fact known to the Issuer
which would prohibit the making of any payment of money to or by the Trustee in respect of the Securities pursuant to the provisions of this Article. Notwithstanding the provisions of this Article or any other provision of this Indenture, the
Trustee shall not be charged with knowledge of the existence of any facts which would prohibit the making of any payment to or by the Trustee in respect of the Securities pursuant to the provisions of this Article, unless and until a responsible
officer of the Trustee shall have received at its Corporate Trust Office written notice thereof from the Issuer or a holder or holders of Senior Indebtedness or from any trustee therefor; and, prior to the receipt of any such written notice, the
Trustee, subject to the provisions of Section 5.01, shall be entitled in all respects to assume that no such facts exist. 
 Subject to
the provisions of Section 5.01, the Trustee shall be entitled to rely on the delivery to it of a written notice by a Person representing himself or herself to be a holder of Senior Indebtedness (or a trustee on behalf of such holder) to
establish that such notice has been given by a holder of Senior Indebtedness or a trustee on behalf of any such holder. In the event that the Trustee 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, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee 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, and if such evidence is not furnished, the Trustee may
defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. 

Section 13.10. Reliance on Certificate of Liquidating Agent. Upon any payment or distribution referred to in this Article, the
Trustee, subject to the provisions of Section 5.01, and the Holders of the Securities shall be entitled to 

  
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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, liquidating trustee, custodian, receiver, assignee for the benefit of creditors, agent or other Person making such payment or distribution, delivered to the Trustee or to
the Holders of Securities, for the purpose of ascertaining the Persons entitled to participate in such distribution, the holders of the Senior Indebtedness and other indebtedness of the Issuer, the amount thereof or payable thereon, the amount or
amounts paid or distributed thereon and all other facts pertinent thereto or to this Article. 
 Section 13.11. Trustee Not
Fiduciary for Holders of Senior Indebtedness. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness. The Trustee’s duties to holders of Senior Indebtedness are limited to those specifically set
forth in this Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee. The Trustee shall not be liable to any such holders if it shall in good faith mistakenly pay over or distribute to Holders of
Securities or to the Issuer or to any other Person cash, property or securities to which any holders of Senior Indebtedness shall be entitled by virtue of this Article or otherwise. 

ARTICLE 14 

CONVERSION OF SECURITIES 

Section 14.01. Applicability; Conversion Privilege and Conversion Price. Securities of any series which are convertible into
Common Stock shall be convertible in accordance with their terms and (except as otherwise specified as contemplated by Section 2.03 for Securities of any series) in accordance with this Article. 

Subject to and upon compliance with the provisions of this Article 14, at the option of the Holder thereof, any Security or any portion of the
principal amount thereof which is $1,000 or an integral multiple of $1,000 may be converted at the principal amount thereof, (or, with respect to Original Issue Discount Securities, at the amount determined pursuant to Section 2.03), or of such
portion thereof, into fully paid and nonassessable shares (calculated as to each conversion to the nearest one-hundredth of a share) of Common Stock, at the Conversion Price, determined as hereinafter provided, in effect at the time of conversion.
Such conversion right shall expire at the close of business on the date specified for Securities of such Series. In case a Security or portion thereof is called for redemption, such conversion right in respect of the Security or portion so called
shall expire at the close of business on the date fixed for redemption, unless the Issuer defaults in making the payment due upon redemption. 

  
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 The price at which shares of Common Stock shall be delivered upon conversion (herein called the
“Conversion Price”) shall be the price specified in relation to Securities of such series pursuant to Section 2.03. The Conversion Price shall be adjusted in certain instances as provided in paragraphs (a), (b), (c),
(d) and (g) of Section 14.04. 
 Section 14.02. Exercise of Conversion Privilege. In order to exercise the conversion
privilege, the Holder of any Security to be converted shall surrender such Security, together with the conversion notice duly executed, at any office or agency of the Issuer maintained for that purpose pursuant to Section 3.02, accompanied by
written notice to the Issuer at such office or agency that the Holder elects to convert such Security or, if less than the entire principal amount thereof is to be converted, the portion thereof to be converted. Securities or portions thereof
surrendered for conversion during the period from the close of business on any regular record date next preceding any interest payment date to the opening of business on such interest payment date shall (unless such Securities or portions thereof
have been called for redemption on a redemption date within such period) be accompanied by payment to the Issuer or its order, in New York Clearing House funds or other funds acceptable to the Issuer, of an amount equal to the interest payable on
such interest payment date on the principal amount of Securities or portions thereof being surrendered for conversion. No payment or adjustment shall be made upon any conversion on account of any interest accrued on the Securities surrendered for
conversion or, except as provided in Section 14.04, on account of any dividends on the Common Stock issued upon conversion. 
 Securities
shall be deemed to have been converted immediately prior to the close of business on the day of surrender of such Securities for conversion in accordance with the foregoing provisions, and at such time the rights of the Holders of such Securities as
Holders shall cease, and the Person or Persons entitled to receive the Common Stock issuable upon conversion shall be treated for all purposes as the record holder or holders of such Common Stock at such time. As promptly as practicable on or after
the conversion date, the Issuer shall issue and shall deliver at such office or agency a certificate or certificates for the number of full shares of Common Stock issuable upon conversion, together with payment in lieu of any fraction of a share, as
provided in Section 14.03. 
 In the case of any Security which is converted in part only, upon such conversion the Issuer shall execute and
the Trustee shall authenticate and deliver to the Holder thereof, at the expense of the Issuer, a new Security or Securities of authorized denominations in aggregate principal amount equal to the unconverted portion of the principal amount of such
Security. 
 Section 14.03. Fractions of Shares. No fractional shares of Common Stock shall be issued upon conversion of
Securities. If more than one Security 

  
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shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate
principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the
Issuer shall pay a cash adjustment in respect of such fraction in an amount equal to the same fraction of the market price (determined as provided in the last sentence of paragraph (f) of Section 14.04) at the close of business on the day of
conversion. 
 Section 14.04. Adjustment of Conversion Price. (a) In case the Issuer shall pay or make a dividend or other
distribution on any class of capital stock of the Issuer in Common Stock, the Conversion Price in effect at the opening of business on the day following the date fixed for the determination of stockholders entitled to receive such dividend or other
distribution shall be reduced by multiplying such Conversion Price by a fraction of which the numerator shall be the number of shares of Common Stock outstanding at the close of business on the date fixed for such determination and the denominator
shall be the sum of such number of shares and the total number of shares constituting such dividend or other distribution, such reduction to become effective immediately after the opening of business on the day following the date fixed for such
determination. For the purposes of this paragraph (a), the number of shares of Common Stock at any time outstanding shall not include shares held in the treasury of the Issuer but shall include shares issuable in respect of scrip certificates issued
in lieu of fractions of shares of Common Stock. The Issuer will not pay any dividend or make any distribution on shares of Common Stock held in the treasury of the Issuer. 

(b) In case the Issuer shall issue rights or warrants to all holders of its Common Stock entitling them to subscribe for or purchase shares of
Common Stock at a price per share less than the market price (determined as provided in paragraph (f) of this Section) of the Common Stock on the date fixed for the determination of stockholders entitled to receive such rights or warrants, the
Conversion Price in effect at the opening of business on the day following the date fixed for such determination shall be reduced by multiplying such Conversion Price by a fraction of which the numerator shall be the number of shares of Common Stock
outstanding at the close of business on the date fixed for such determination plus the number of shares of Common Stock which the aggregate of the offering price of the total number of shares of Common Stock so offered for subscription or purchase
would purchase at such market price and the denominator shall be the number of shares of Common Stock outstanding at the close of business on the date fixed for such determination plus the number of shares of Common Stock so offered for subscription
or purchase, such reduction to become effective immediately after the opening of business on the day following the date fixed for such determination. For the purposes of this 

  
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paragraph (b), the number of shares of Common Stock at any time outstanding shall not include shares held in the treasury of the Issuer but shall include shares issuable in respect of scrip
certificates issued in lieu of fractions of shares of Common Stock. The Issuer will not issue any rights or warrants in respect of shares of Common Stock held in the treasury of the Issuer. 

(c) In case outstanding shares of Common Stock shall be subdivided into a greater number of shares of Common Stock, the Conversion Price in
effect at the opening of business on the day following the day upon which such subdivision becomes effective shall be proportionately reduced, and, conversely, in case outstanding shares of Common Stock shall each be combined into a smaller number
of shares of Common Stock, the Conversion Price in effect at the opening of business on the day following the day upon which such combination becomes effective shall be proportionately increased, such reduction or increase, as the case may be, to
become effective immediately after the opening of business on the day following the day upon which such subdivision or combination becomes effective. 

(d) In case the Issuer shall, by dividend or otherwise, distribute to all holders of its Common Stock evidences of its indebtedness or assets
(including securities, but excluding any rights or warrants referred to in paragraph (b) of this Section, any dividend or distribution paid in cash out of the retained earnings of the Issuer and any dividend or distribution referred to in
paragraph (a) of this Section), the Conversion Price shall be adjusted so that the same shall equal the price determined by multiplying the Conversion Price in effect immediately prior to the close of business on the date fixed for the
determination of stockholders entitled to receive such distribution by a fraction of which the numerator shall be the market price per share (determined as provided in paragraph (f) of this Section) of the Common Stock on the date fixed for
such determination, reduced by the then fair market value (as determined by the Board of Directors, whose determination shall be conclusive and described in a Board Resolution filed with the Trustee) of the portion of the assets or evidence of
indebtedness so distributed applicable to one share of Common Stock and the denominator shall be such market price per share of the Common Stock, such adjustment to become effective immediately prior to the opening of business on the day following
the date fixed for the determination of stockholders entitled to receive such distribution. 
 (e) The reclassification of Common Stock into
securities including other than Common Stock (other than any reclassification upon a consolidation or merger to which Section 14.11 applies) shall be deemed to involve (a) a distribution of such securities other than Common Stock to all holders
of Common Stock (and the effective date of such reclassification shall be deemed to be “the date fixed for the determination of stockholders entitled to receive such distribution” and “the date fixed for such determination”)
within the meaning of 

  
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paragraph (d) of this Section, and (b) a subdivision or combination, as the case may be, of the number of shares of Common Stock outstanding immediately prior to such reclassification
into the number of shares of Common Stock outstanding immediately thereafter (and the effective date of such reclassification shall be deemed to be “the day upon which such subdivision becomes effective” or “the day upon which such
combination becomes effective”, as the case may be, and “the day upon which such subdivision or combination becomes effective” within the meaning of paragraph (c) of this Section). 

(f) For the purpose of any computation under paragraphs (b) and (d) of this Section, the market price on any date shall be deemed to
be the average of the daily market prices for the ten consecutive Business Days selected by the Issuer commencing not less than ten nor more than 80 Business Days before the day in question. The closing price for each day shall be the last reported
sales price regular way on the composite tape or, in case no such reported sale takes place on such day, the average of the reported closing bid and asked prices regular way, in either case on the New York Stock Exchange or, if the Common Stock is
not listed or admitted to trading on such Exchange, on the principal national securities exchange on which the Common Stock is listed or admitted to trading or, if not listed or admitted to trading on any national securities exchange, the average of
the closing bid and asked prices as furnished by any New York Stock Exchange member firm selected from time to time by the Issuer for that purpose. 

(g) The Issuer may make such reductions in the Conversion Price, in addition to those required by paragraphs (a), (b), (c) and
(d) of this Section, as it considers to be advisable in order that any event treated for Federal income tax purposes as a dividend of stock or stock rights shall not be taxable to the recipients. 

Section 14.05. Notice of Adjustments of Conversion Price. Whenever the Conversion Price is adjusted as herein provided: 

(a) the Issuer shall compute the adjusted Conversion Price in accordance with Section 14.04 and shall prepare a certificate signed by the
Treasurer or an Assistant Treasurer, the Controller or an Assistant Controller of the Issuer setting forth the adjusted Conversion Price and showing in reasonable detail the facts upon which such adjustment is based, and such certificate shall
forthwith be filed with the Trustee and at each office or agency maintained for the purpose of conversion of Securities pursuant to Section 3.02; and 

(b) a notice stating that the Conversion Price has been adjusted and setting forth the adjusted Conversion Price shall forthwith be required,
and as soon as practicable after it is required, such notice shall be prepared by the Issuer, filed with the Trustee and mailed by the Issuer to all Holders at their last addresses as they shall appear in the Security register. 

  
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 Section 14.06. Notice of Certain Corporate Action. In case: 

(a) the Issuer shall declare a dividend (or any other distribution) on Common Stock payable otherwise than in cash out of its retained
earnings; or 
 (b) the Issuer shall authorize the granting to the holders of Common Stock of rights or warrants to subscribe for or
purchase any shares of capital stock of any class or of any other rights; or 
 (c) of any reclassification of the Common Stock (other than
a subdivision or combination of its outstanding shares of Common Stock), or of any consolidation or merger to which the Issuer is a party and for which approval of any stockholders of the Issuer is required, or of the sale or transfer of all or
substantially all of the assets of the Issuer; or 
 (d) of the voluntary or involuntary dissolution, liquidation or winding up of the
Issuer; 
 then the Issuer shall cause to be filed with the Trustee and at each office or agency maintained for the purpose of conversion of Securities
pursuant to Section 3.02, and shall cause to be mailed to all Holders at their last addresses as they shall appear in the Security register, at least 20 days (or ten days in any case specified in clause (a) or (b) above) prior to the
applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, 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, rights or warrants are to be determined, or (y) the date on which such reclassification, liquidation or winding up is expected to become effective, and
the date as of which it is expected that holders of Common Stock of record shall be entitled to exchange their shares of Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale,
transfer, dissolution, liquidation or winding up. The failure to give notice required by this Section or any defect therein shall not affect the legality or validity of any dividend, distribution, rights, warrants, reclassification, consolidation,
merger, sale, transfer, dissolution, liquidation or winding up, or the vote on any such action. 
 Section 14.07. Issuer to Reserve
Common Stock. The Issuer shall at all times reserve and keep available, free from pre-emptive rights, out of its authorized but unissued Common Stock, for the purpose of effecting the conversion of Securities, the full number of shares of Common
Stock then issuable upon the conversion of all outstanding Securities. 
 Section 14.08. Taxes on Conversions. The Issuer will
pay any and all transfer taxes that may be payable in respect of the issue or delivery of shares of 

  
 69 

 
Common Stock on conversion of Securities pursuant thereto. The Issuer shall not, however, be required to pay any tax which may be payable in respect of any transfer involved in the issue and
delivery of shares of Common Stock in a name other than that of the Holder of the Security or Securities to be converted, and no such issue or delivery shall be made unless and until the Person requesting such issue has paid to the Issuer the amount
of any such tax, or has established to the satisfaction of the Issuer that such tax has been paid. 
 Section 14.09. Covenant
as to Common Stock. The Issuer covenants that all shares of Common Stock which may be issued upon conversion of Securities will upon issue be fully paid and nonassessable. 

Section 14.10. Cancellation of Converted Securities. All Securities delivered for conversion shall be delivered to the
Trustee for cancellation and the Trustee shall dispose of the same as provided in Section 2.10. 
 Section 14.11.
Provisions in Case of Consolidation, Merger or Sale of Assets. In case of any consolidation of the Issuer with, or merger of the Issuer into, any other corporation, any merger of another corporation into the Issuer (other than a merger which
does not result in any reclassification, conversion, exchange or cancellation of outstanding shares of Common Stock of the Issuer) or any sale or transfer of all or substantially all of the assets of the Issuer, the corporation formed by such
consolidation or resulting from such merger or which acquires such assets, as the case may be, shall execute and deliver to the Trustee a supplemental indenture providing that the Holder of each Security then outstanding shall have the right
thereafter, during the period such Security shall be convertible as specified in Section 14.01, to convert such Security only into the kind and amount of securities, cash and other property receivable upon such consolidation, merger, sale or
transfer by a holder of the number of shares of Common Stock of the Issuer into which such Security might have been converted immediately prior to such consolidation, merger, sale or transfer, assuming such holder of Common Stock of the Issuer
(a) is not a corporation with which the Issuer consolidated or into which the Issuer merged or which merged into the Issuer or to which such sale or transfer was made, as the case may be (“constituent
corporation”), or an affiliate of a constituent corporation and (b) failed to exercise his rights of election, if any, as to the kind or amount of securities, cash and other property receivable upon such consolidation, merger,
sale or transfer (provided that if the kind or amount of securities, cash and other property receivable upon such consolidation, merger, sale or transfer is not the same for each share of Common Stock of the Issuer held immediately prior to such
consolidation, merger, sale or transfer by others than a constituent corporation or an affiliate thereof and in respect of which such rights of election shall not have been exercised (“non-electing share”), then for
the purpose of this Section the kind and amount of securities, cash and other property receivable upon such consolidation, merger, sale or transfer by each non-electing share shall  

  
 70 

 
be deemed to be the kind and amount so receivable per share by a plurality of the non-electing shares). Such supplemental indenture shall provide for adjustments which, for events subsequent to
the effective date of such supplemental indenture, shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article. The above provisions of this Section shall similarly apply to successive consolidations, mergers,
sales or transfers. 
 [Signature page follows] 

  
 71 

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

			
	 GAIN CAPITAL HOLDINGS, INC.

		
	By:		  

	Name:		
	Title:		
	
	, as Trustee
		
	By:		  

	Name:		
	Title:EX-4.11

 Exhibit 4.11 

GAIN CAPITAL HOLDINGS, INC. 

AS ISSUER 
 4.125%
CONVERTIBLE SENIOR NOTES DUE 2020 
  
  

INDENTURE 
 DATED AS OF
APRIL 1, 2015 
  
  

THE BANK OF NEW YORK MELLON 

AS TRUSTEE 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE I	  
	
	DEFINITIONS AND INCORPORATION BY REFERENCE	  
			
	 Section 1.01
	 	Definitions	  	 	1	  
	 Section 1.02
	 	Other Definitions	  	 	10	  
	 Section 1.03
	 	Rules of Construction	  	 	11	  
	 Section 1.04
	 	Acts of Holders	  	 	11	  
	
	ARTICLE II	  
	
	THE NOTES	  
			
	 Section 2.01
	 	Designation, Amount and Issuance of Notes	  	 	12	  
	 Section 2.02
	 	Form of Notes	  	 	12	  
	 Section 2.03
	 	Denomination of Notes	  	 	14	  
	 Section 2.04
	 	Payments	  	 	14	  
	 Section 2.05
	 	Execution and Authentication	  	 	16	  
	 Section 2.06
	 	Registrar, Paying Agent and Conversion Agent	  	 	17	  
	 Section 2.07
	 	Money and Securities Held in Trust	  	 	19	  
	 Section 2.08
	 	Holder Lists	  	 	19	  
	 Section 2.09
	 	Transfer and Exchange	  	 	20	  
	 Section 2.10
	 	Transfer Restrictions	  	 	24	  
	 Section 2.11
	 	Replacement Notes	  	 	26	  
	 Section 2.12
	 	Temporary Notes	  	 	26	  
	 Section 2.13
	 	Cancellation	  	 	27	  
	 Section 2.14
	 	Outstanding Notes	  	 	27	  
	 Section 2.15
	 	Persons Deemed Owners	  	 	28	  
	 Section 2.16
	 	Repurchases	  	 	28	  
	 Section 2.17
	 	CUSIPs	  	 	28	  
	
	ARTICLE III	  
	
	REPURCHASE AT THE OPTION OF THE HOLDER	  
			
	 Section 3.01
	 	Fundamental Change Permits Holders to Require the Company to Repurchase the Notes	  	 	28	  
	 Section 3.02
	 	Fundamental Change Notice	  	 	29	  
	 Section 3.03
	 	Fundamental Change Repurchase Notice	  	 	30	  
	 Section 3.04
	 	Withdrawal of Fundamental Change Repurchase Notice	  	 	31	  
	 Section 3.05
	 	Effect of Fundamental Change Repurchase Notice	  	 	32	  
	 Section 3.06
	 	Notes Repurchased in Part	  	 	33	  
	 Section 3.07
	 	Covenant to Comply With Securities Laws Upon Repurchase of Notes	  	 	33	  

							
	 	 	 	  	Page	 
	 Section 3.08
	 	Deposit of Fundamental Change Repurchase Price	  	 	34	  
	 Section 3.09
	 	Covenant Not to Repurchase Notes During a Continuing Acceleration With Respect to the Notes	  	 	34	  
	
	ARTICLE IV	  
	
	COVENANTS	  
			
	 Section 4.01
	 	Payment of Notes	  	 	34	  
	 Section 4.02
	 	[Reserved]	  	 	35	  
	 Section 4.03
	 	Reports	  	 	35	  
	 Section 4.04
	 	Additional Interest	  	 	35	  
	 Section 4.05
	 	Compliance Certificate	  	 	36	  
	 Section 4.06
	 	Restriction on Purchases by the Company	  	 	36	  
	 Section 4.07
	 	[Reserved]	  	 	37	  
	 Section 4.08
	 	Corporate Existence	  	 	37	  
	 Section 4.09
	 	[Reserved]	  	 	37	  
	 Section 4.10
	 	Stay, Extension and Usury Laws	  	 	37	  
	
	ARTICLE V	  
	
	CONSOLIDATION, MERGER AND SALE OF ASSETS	  
			
	 Section 5.01
	 	Company May Consolidate, Merge or Sell Its Assets Only on Certain Terms	  	 	37	  
	 Section 5.02
	 	Successor Substituted	  	 	38	  
	
	ARTICLE VI	  
	
	DEFAULTS AND REMEDIES	  
			
	 Section 6.01
	 	Events of Default	  	 	38	  
	 Section 6.02
	 	Acceleration	  	 	40	  
	 Section 6.03
	 	Other Remedies	  	 	41	  
	 Section 6.04
	 	Sole Remedy for Failure to Report	  	 	41	  
	 Section 6.05
	 	Waiver of Past Defaults	  	 	42	  
	 Section 6.06
	 	Control by Majority	  	 	43	  
	 Section 6.07
	 	Limitation on Suits	  	 	43	  
	 Section 6.08
	 	Rights of Holders To Receive Payment	  	 	43	  
	 Section 6.09
	 	Collection Suit by Trustee	  	 	44	  
	 Section 6.10
	 	Trustee May File Proofs of Claim	  	 	44	  
	 Section 6.11
	 	Priorities	  	 	44	  
	 Section 6.12
	 	Undertaking for Costs	  	 	45	  

  
 ii 

							
	 	 	 	  	Page	 
	ARTICLE VII	  
	
	TRUSTEE	  
			
	 Section 7.01
	 	Duties of Trustee	  	 	45	  
	 Section 7.02
	 	Rights of Trustee	  	 	46	  
	 Section 7.03
	 	Individual Rights of Trustee	  	 	48	  
	 Section 7.04
	 	Trustee’s Disclaimer	  	 	48	  
	 Section 7.05
	 	Notice of Defaults	  	 	48	  
	 Section 7.06
	 	Compensation and Indemnity	  	 	48	  
	 Section 7.07
	 	Replacement of Trustee	  	 	50	  
	 Section 7.08
	 	Successor Trustee by Merger	  	 	50	  
	 Section 7.09
	 	Eligibility; Disqualification	  	 	51	  
	 Section 7.10
	 	Trustee’s Application for Instructions from the Company	  	 	51	  
	 Section 7.11
	 	Withholding	  	 	51	  
	
	ARTICLE VIII	  
	
	SATISFACTION AND DISCHARGE	  
			
	 Section 8.01
	 	Discharge of Liability on Notes	  	 	52	  
	 Section 8.02
	 	Repayment to the Company	  	 	52	  
	
	ARTICLE IX	  
	
	AMENDMENTS, SUPPLEMENTS AND WAIVERS	  
			
	 Section 9.01
	 	Without Consent of Holders	  	 	52	  
	 Section 9.02
	 	With Consent of Holders	  	 	53	  
	 Section 9.03
	 	Execution of Supplemental Indentures	  	 	54	  
	 Section 9.04
	 	Notices of Supplemental Indentures	  	 	54	  
	 Section 9.05
	 	Effect of Supplemental Indentures	  	 	55	  
	 Section 9.06
	 	Revocation and Effect of Consents, Waivers and Actions	  	 	55	  
	 Section 9.07
	 	Notation on, or Exchange of, Notes	  	 	55	  
	
	ARTICLE X	  
	
	CONVERSIONS	  
			
	 Section 10.01
	 	Right To Convert	  	 	55	  
	 Section 10.02
	 	Conversion Procedures	  	 	58	  
	 Section 10.03
	 	Settlement Upon Conversion	  	 	60	  
	 Section 10.04
	 	Common Stock Issued Upon Conversion	  	 	62	  
	 Section 10.05
	 	Adjustment of Conversion Rate	  	 	63	  
	 Section 10.06
	 	Voluntary Adjustments	  	 	72	  
	 Section 10.07
	 	Conversions in Connection with Certain Make-Whole Fundamental Changes	  	 	72	  

  
 iii 

							
	 	 	 	  	Page	 
	 Section 10.08
	 	Effect of Recapitalization, Reclassification, Consolidation, Merger or Sale	  	 	73	  
	 Section 10.09
	 	No Responsibility of Trustee or Conversion Agent	  	 	75	  
	 Section 10.10
	 	[Reserved]	  	 	76	  
	 Section 10.11
	 	Exchange in Lieu of Conversion	  	 	76	  
	
	ARTICLE XI	  
	
	REDEMPTION AT THE OPTION OF THE COMPANY	  
			
	 Section 11.01
	 	No Sinking Fund	  	 	77	  
	 Section 11.02
	 	Right To Redeem the Notes	  	 	77	  
	 Section 11.03
	 	Redemption Notice	  	 	77	  
	 Section 11.04
	 	Effect of Redemption Notice	  	 	78	  
	 Section 11.05
	 	Deposit of Redemption Price	  	 	78	  
	 Section 11.06
	 	Effect of Deposit	  	 	78	  
	 Section 11.07
	 	Covenant Not to Redeem Notes During a Continuing Acceleration With Respect to the Notes	  	 	79	  
	 Section 11.08
	 	Repayment to the Company	  	 	79	  
	
	ARTICLE XII	  
	
	MISCELLANEOUS	  
			
	 Section 12.01
	 	[Reserved]	  	 	79	  
	 Section 12.02
	 	Notices	  	 	79	  
	 Section 12.03
	 	Certificate and Opinion as to Conditions Precedent	  	 	81	  
	 Section 12.04
	 	Statements Required in Certificate or Opinion	  	 	81	  
	 Section 12.05
	 	Separability Clause	  	 	81	  
	 Section 12.06
	 	Rules by Trustee	  	 	81	  
	 Section 12.07
	 	Governing Law and Waiver of Jury Trial	  	 	81	  
	 Section 12.08
	 	No Recourse Against Others	  	 	82	  
	 Section 12.09
	 	Calculations	  	 	82	  
	 Section 12.10
	 	Successors	  	 	82	  
	 Section 12.11
	 	Multiple Originals	  	 	82	  
	 Section 12.12
	 	Table of Contents; Headings	  	 	83	  
	 Section 12.13
	 	Force Majeure	  	 	83	  
	 Section 12.14
	 	Submission to Jurisdiction	  	 	83	  
	 Section 12.15
	 	Legal Holidays	  	 	83	  
	 Section 12.16
	 	No Security Interest Created	  	 	83	  
	 Section 12.17
	 	Benefits of Indenture	  	 	83	  
	 Section 12.18
	 	U.S.A. Patriot Act	  	 	83	  
		
	 Form of Note
	  	 	A-1	  
	 Form of Transfer Certificate
	  	 	B-1	  
	 Form of Restricted Stock Legend
	  	 	C-1	  

  
 iv 

 INDENTURE, dated as of April 1, 2015, between GAIN Capital Holdings, Inc., a Delaware
corporation (the “Company”), and The Bank of New York Mellon, a New York banking corporation, as trustee (“Trustee”). 

Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders (as defined below) of the
Company’s 4.125% Convertible Senior Notes due 2020: 
 ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01 Definitions. 

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

“Applicable Procedures” means, with respect to any transfer or transaction involving a Global Note or any beneficial interest
therein, the rules and procedures of the Depositary for such Note, in each case to the extent applicable to such transfer or transaction and as in effect from time to time. 

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

 “Bid Solicitation Agent” means the Person who shall solicit and obtain bids for the Trading Price in accordance with
Section 10.01(b)(ii) and the definition of Trading Price set forth herein. The initial Bid Solicitation Agent shall be the Company, and the Company shall have the right to thereafter appoint any other Person to be the Bid Solicitation Agent
without prior notice. 
 “Board of Directors” means the board of directors of the Company or a committee of such board duly
authorized to act for it. 
 “Board Resolution” means a copy of one or more resolutions 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 any day other than a Saturday, a Sunday or a day on which the
Federal Reserve Bank of New York is authorized or required by law or executive order to close or be closed. 
 “Capital Stock”
means, for any Person, any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of, or interests in (however designated), the equity of such Person, but excluding any debt securities convertible into
such equity. 
 “Close of Business” means 5:00 p.m., New York City time. 

“Common Stock” means the shares of the common stock of the Company, par value $0.00001 per share, subject to Section 10.08
hereof. 
 “Company” means the party named as such in the first paragraph of this Indenture until a successor or assignee replaces
it pursuant to the applicable provisions hereof and, thereafter, means the successor or assignee. 
 “Company Order” means a
written request or order signed in the name of the Company by any Officer. 
 “Conversion Price” means, at any time,
(i) $1,000 divided by (ii) the Conversion Rate in effect at such time. 
 “Conversion Rate” means, initially,
102.3541 shares of Common Stock per $1,000 principal amount of Notes, subject to adjustment as provided herein. 
 “Corporate Trust
Office” means the corporate trust office of the Trustee at which the trust created by this Indenture will be administered, which office, as of the Issue Date, is located at The Bank of New York Mellon, Corporate Trust Administration – Gain
Holdings, Inc., 101 Barclay Street – Floor 7W, New York, NY 10286 and may later be located at such other address as the Trustee, upon delivering notice to the Holders, the Paying Agent, the Conversion Agent, the Registrar and the Company,
designates. 
 “Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy
Law. 
 “Daily Conversion Value” means, for any Trading Day, (1) the product of (x) the Conversion Rate on such Trading
Day and (y) the Daily VWAP on such Trading Day, divided by (2) twenty five (25). 
 “Daily Settlement Amount”
means, with respect to each of the 25 consecutive Trading Days during any Observation Period, (i) cash equal to the lesser of (x) the Specified Dollar Amount applicable to such conversion, divided by twenty five (25) (such
quotient, the “Daily Measurement Value”); and (y) the Daily Conversion Value on such Trading Day (the lesser of such preceding clauses (x) and (y), the “Daily Cash Amount”); and (ii) if such Daily Conversion Value
exceeds such Daily Measurement Value, a number of shares of Common 

  
 2 

 
Stock (such number, the “Daily Share Amount”) equal to (x) the difference between such Daily Conversion Value and such Daily Measurement Value, divided by (y) the Daily
VWAP for such Trading Day. 
 “Daily VWAP” means, for any Trading Day, the per share volume-weighted average price as displayed
under the heading “Bloomberg VWAP” on Bloomberg page “GCAP<equity> AQR” (or its equivalent successor if such page is not available) in respect of the period from the scheduled open of trading until the scheduled close of
trading of the primary trading session on such 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 this 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.

 “Default” means any event which is, or after notice or passage of time or both would be, an Event of Default. 

“Definitive Notes” means Notes that are in registered definitive form and that are in the form of the Note attached hereto as
Exhibit A. 
 “Depositary” means DTC; provided that the Company may at any time, upon delivering notice to the
Holders, the Company, the Trustee, the Registrar, the Paying Agent and the Conversion Agent, appoint a successor Depositary. 

“DTC” means The Depository Trust Company. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Fundamental Change” means an event that will be deemed to occur if any of the following occurs: 

(a) a “person” or “group” within the meaning of Section 13(d) of the Exchange Act other than the
Company, its Subsidiaries, and the Company and its Subsidiaries’ employee benefit plans files a Schedule TO or any schedule, form or report under the Exchange Act disclosing that such person or group, has become the direct or indirect
“beneficial owner” (as defined below) of shares of the Company’s common equity representing more than 50% of the voting power of the Company’s common equity generally entitled to vote in the election of the Company’s
directors; 

  
 3 

 (b) the consummation of: 

(i) any sale, lease or other transfer in one transaction or a series of transactions of all or substantially all of the
consolidated assets of the Company and its Subsidiaries, taken as a whole, to any Person; or 
 (ii) any transaction or
series of related transactions in connection with which (whether by means of exchange, liquidation, consolidation, merger, combination, reclassification, recapitalization, acquisition or otherwise) all of the Common Stock is exchanged for, converted
into, acquired for, or constitutes solely the right to receive, other securities, other property, assets or cash, but excluding any merger, consolidation, share exchange or acquisition of the Company with or by another Person pursuant to
which the Persons that “beneficially owned” (as defined below), directly or indirectly, the shares of the Company’s Voting Stock immediately prior to such transaction beneficially own, directly or indirectly, immediately after such
transaction, shares of the surviving, continuing or acquiring corporation’s Voting Stock representing more than 50% of the total outstanding voting power of all outstanding classes of Voting Stock of the surviving, continuing or acquiring
corporation in substantially the same proportions vis-à-vis each other as immediately prior to such transaction; 

(c) the Company’s stockholders approve any plan or proposal for the liquidation or dissolution of the Company; or 

(d) the Common Stock (or other common stock or depositary shares or receipts in respect thereof that underlie the Notes) ceases
to be listed or quoted on The New York Stock Exchange, The NASDAQ Global Market, The NASDAQ Global Select Market, The London Stock Exchange or The Hong Kong Stock Exchange (or any of their respective successors). 

A transaction or event described in clause (a) or (b) above will not constitute a Fundamental Change, however, 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 or dissenters’ appraisal rights, in connection with the transaction or transactions, consists of shares of common
stock or depositary shares or receipts in respect thereof traded on any of The New York Stock Exchange, The NASDAQ Global Market, The NASDAQ Global Select Market, The London Stock Exchange or The Hong Kong Stock Exchange (or any of its respective
successors) or which will be so traded or quoted when issued or exchanged in connection with such transaction or event and as a result of such transaction or event, the Notes become convertible or exchangeable (assuming Physical Settlement) solely
into such consideration (excluding cash payments for fractional shares or dissenters’ appraisal rights) in accordance with Section 10.08 hereof. For the purposes of this definition of “Fundamental Change,” any transaction or
event that constitutes a Fundamental Change under both clause (a) and clause (b) above will be deemed to constitute a Fundamental Change solely under clause (b) of this definition of “Fundamental Change.” 

  
 4 

 For the purposes of this definition of “Fundamental Change,” whether a person is a
“beneficial owner” or whether shares are “beneficially owned” will be determined in accordance with Rule 13d-3 under the Exchange Act. 

“Global Note” means a permanent global note that is in the form of the Note attached hereto as Exhibit A and that is
registered in the name of the Depositary or the nominee of the Depositary and deposited with the Depositary, the nominee of the Depositary or a custodian appointed by the Depositary or the nominee of the Depositary. 

“Global Notes Legend” means the legend identified as such in Exhibit A hereto. 

“Holder” or “Holders” means a Person or Persons in whose name a Note is registered in the Register. 

“Indenture” means this Indenture, as amended or supplemented from time to time in accordance with the terms hereof. 

“Issue Date” means April 1, 2015. 

“Last Reported Sale Price” of the Common Stock on any date means the closing sale price per share (or, if no closing sale price is
reported, the average of the last bid and ask prices or, if more than one in either case, the average of the average last bid and the average last ask prices) on such date as reported in composite transactions for the principal U.S. national or
regional 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 such date, the “Last Reported Sale Price” of the Common Stock will be the
last quoted bid price per share for the Common Stock in the over-the-counter market on such date as reported by OTC Markets Group Inc. or a similar organization. If the Common Stock is not so quoted, the “Last Reported Sale Price” will be
the average of the mid-point of the last bid and ask prices per share for the Common Stock on the relevant date from at least three nationally recognized independent investment banking firms selected by the Company for this purpose. 

“Make-Whole Fundamental Change” means the occurrence of either of the following: (i) a Fundamental Change (determined after
giving effect to the paragraph immediately following clause (d) of the definition thereof, but without regard to the exclusion in clause (b)(ii) of the definition thereof) or (ii) the Company calls the Notes for redemption pursuant to
Article 11. 
 “Make-Whole Fundamental Change Effective Date” means, for any Make-Whole Fundamental Change of the type described
in clause (i) of the definition of Make-Whole Fundamental Change, the date on which such Make-Whole Fundamental Change occurs or becomes effective. 

“Market Disruption Event” means, (i) for purposes of determining whether the Notes will be convertible pursuant to
Section 10.01(b), the occurrence or existence during the one-half hour period ending on the scheduled close of trading on the principal U.S. national or regional securities exchange on which the Common Stock is listed for trading of any
material 

  
 5 

 
suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the stock exchange or otherwise) in the Common Stock or in any options contracts or
futures contracts relating to the Common Stock; and (ii) for purposes of determining any Observation Period, (A) a failure by the primary U.S. national or regional securities exchange or market on which the Common Stock is listed or
admitted for trading to open for trading during its regular trading session or (B) the occurrence or existence prior to 1:00 p.m., New York City time, on any Scheduled Trading Day for the Common Stock for more than one half-hour period in the
aggregate during regular trading hours of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant stock exchange or otherwise) in the Common Stock or in any options contracts or
futures contracts relating to the Common Stock. 
 “Notes” means any of the Company’s 4.125% Convertible Senior Notes due
2020 issued under this Indenture. 
 “Observation Period” means, with respect to any Note surrendered for conversion: 

(i) subject to (iii) below, if the Conversion Date for such conversion is before October 1, 2019, the twenty five
(25) consecutive Trading Day period beginning on, and including, the third Trading Day after such Conversion Date; 
 (ii) subject
to (iii) below, if such Conversion Date occurs on or after October 1, 2019, the twenty five (25) consecutive Trading Days beginning on, and including, the twenty seventh (27th) Scheduled Trading Day immediately preceding the
Maturity Date; and 
 (iii) if the relevant Conversion Date occurs on or after the date of our delivery of a Redemption Notice with respect
to the Notes and prior to the relevant Redemption Date, the 25 consecutive Trading Days beginning on, and including, the 27th scheduled trading day immediately preceding such Redemption Date. 

“Officer” means the Chairman of the Board, the Vice Chairman, the Chief Executive Officer, the President, the Chief Financial
Officer, any Executive Vice President, any Senior Vice President, any Vice President, the Treasurer or the Secretary of the Company. 

“Officers’ Certificate” means a written certificate containing the information specified in Sections 12.03 and 12.04 hereof,
signed in the name of the Company by any two Officers, and delivered to the Trustee; provided, that, if such certificate is given pursuant to Section 4.05 hereof, (i) one of the Officers signing such certificate must be the
principal financial or accounting Officer of the Company and (ii) such certificate need not contain the information specified in Sections 12.03 and 12.04 hereof. 

“Open of Business” means 9:00 a.m., New York City time. 

“Opinion of Counsel” means a written opinion containing the information specified in Sections 12.03 and 12.04 hereof, from legal
counsel. The counsel may be an employee of, or counsel to, the Company who is reasonably satisfactory to the Trustee. 

  
 6 

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

“Redemption Conversion Period” means the period beginning on, and including, the date on which the Company delivers a Redemption
Notice and ending on, but excluding, the relevant Redemption Date. 
 “Restricted Notes Legend” means the legend identified as
such set forth in Exhibit A hereto, or any other similar legend indicating the restricted status of the Notes under Rule 144. 

“Restricted Stock Legend” means a legend in the form set forth in Exhibit C hereto or any other similar legend indicating the
restricted status of the Common Stock under Rule 144. 
 “Rule 144” means Rule 144 under the Securities Act (or any successor
provision), as it may be amended from time to time. 
 “Scheduled Trading Day” means a day that is scheduled to be a Trading Day
on the principal U.S. national or regional securities exchange or market on which the Common Stock is listed or admitted for trading; provided, however, that if the Common Stock is not so listed or admitted for trading, then
“Scheduled Trading day” means a Business Day. 
 “SEC” means the Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933, as amended. 

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

“Significant Subsidiary” means any Subsidiary that is a “significant subsidiary” of the Company within the meaning of Rule
1-02(w) of Regulation S-X promulgated under the Exchange Act. 
 “Specified Dollar Amount” means, with respect to the conversion
of any Note with respect to which Combination Settlement applies, the maximum cash amount per $1,000 principal amount of such Note being converted to be received upon such conversion (excluding cash in lieu of any fractional share of Common Stock),
as specified in the notice specifying the Company’s elected Settlement Method for such conversion or as deemed to be so specified pursuant to Section 10.03(a)(i)(5). 

“Stock Price” means, for any Make-Whole Fundamental Change of the type described in sub-clause (ii) of clause (b) of the
definition of Fundamental Change pursuant to which the holders of the Common Stock receive only cash in consideration for their shares of Common Stock in such Make-Whole Fundamental Change, the amount of cash paid per share of the Common Stock in
such Make-Whole Fundamental Change. 

  
 7 

 “Subsidiary” means a Person more than 50% of the outstanding Voting Stock of which is
owned, directly or indirectly, by the Company or by one or more other Subsidiaries of the Company, or by the Company and one or more other Subsidiaries of the Company. 

“TIA” means the Trust Indenture Act of 1939 as in effect on the Issue Date; provided, however, that if the TIA is
amended after such date, TIA means, to the extent required by any such amendment, the TIA as so amended. 
 “Trading Day” means a
day on which (i) trading in the Common Stock (or other security for which a closing sale price must be determined) generally occurs on The New York Stock Exchange or, if the Common Stock (or such other security) is not then listed on The New
York Stock Exchange, on the principal other U.S. national or regional securities exchange on which the Common Stock (or such other security) is then listed or, if the Common Stock (or such other security) is not then listed on a U.S. national or
regional securities exchange, on the principal other market on which the Common Stock (or such other security) is then listed or admitted for trading; (ii) there is no Market Disruption Event; and (iii) a closing price for the Common Stock
(or such other security) is available on such securities exchange; provided, however, that if the Common Stock (or such other security) is not so listed or traded, then “Trading Day” means a Business Day; provided,
further, that, notwithstanding the foregoing, solely for purposes of determining the Conversion Consideration due upon any conversion of a Note, (x) “Trading Day” means a day on which (A) there is no Market Disruption
Event and (B) trading in the Common Stock generally occurs on The New York Stock Exchange or, if the Common Stock is not then listed on The New York Stock Exchange, on the principal other U.S. national or regional securities exchange on which
the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then listed or admitted for trading; and (y) if the Common
Stock is not so listed or admitted for trading, “Trading Day” means a Business Day. 
 “Trading Price” means, with
respect to the Notes on any date of determination, the average of the secondary market bid quotations obtained by the Bid Solicitation Agent for $1.0 million principal amount of 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, however, that if three such bids cannot reasonably be obtained by the Bid Solicitation Agent but two such bids are
obtained, then the average of the two (2) 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 $1.0 million principal amount of the Notes from a nationally recognized securities dealer on any Trading Day, then the Trading Price per $1,000 principal amount of the Notes on such Trading Day will be deemed to be less than ninety eight percent
(98%) of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on such Trading Day. If (x) the Company is not acting as Bid Solicitation Agent, and the Company does not, when the Company is required to,
instruct the Bid Solicitation Agent in writing to obtain bids, or if the Company gives such written instruction to the Bid Solicitation Agent, and the Bid Solicitation Agent fails to make such determination or (y) the Company is acting as Bid
Solicitation Agent, and the Company fails to make such determination, then, in either case, the Trading Price per 

  
 8 

 
$1,000 principal amount of Notes will be deemed to be less than ninety eight percent (98%) of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on each
Trading Day of such failure. 
 “Transfer” means, with respect to any Restricted Note or share of Common Stock that bears, or is
required to bear, the Restricted Stock Legend, any sale, pledge, transfer, loan, hypothecation or other disposition of such Restricted Note or share of Common Stock, as the case may be. 

“Transfer Agent” means, initially, Broadridge Corporate Issuer Solutions, Inc., in its capacity as the transfer agent for the
transfer agent for the Common Stock, and any successor entity acting in such capacity. 
 “Trust Officer” means any officer within
the corporate trust department of the Trustee (or any successor group of the Trustee) with direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust matter hereunder, any other
officer of the Trustee to whom such matter is referred because of his or her knowledge of and familiarity with the particular subject. 

“Trustee” means the party named as the “Trustee” in the first paragraph of this Indenture until a successor replaces it
pursuant to the applicable provisions of this Indenture and, thereafter, means such successor. The foregoing sentence will likewise apply to any such subsequent successor or successors. 

“Uniform Commercial Code” means the New York Uniform Commercial Code as in effect on the Issue Date. 

“Voting Stock” of a Person means Capital Stock of such Person of the class or classes pursuant to which the holders thereof have the
general voting power under ordinary circumstances to elect at least a majority of the board of directors, managers or trustees of such Person (irrespective of whether or not at the time Capital Stock of any other class or classes will have or might
have voting power by reason of the happening of any contingency). 

  
 9 

 Section 1.02 Other Definitions. 

 

						
	 Term:
	  	Section Defined in:
	 “Act”
	  	 	 	1.04	  
	 “Additional Interest”
	  	 	 	4.04(a)	  
	 “Agent Members”
	  	 	 	2.02(c)	  
	 “Applicable Tax Law”
	  	 	 	7.11	  
	 “Averaging Period”
	  	 	 	10.05(c)	  
	 “Cash Settlement”
	  	 	 	10.03(a)	  
	 “Clause A Distribution”
	  	 	 	10.05(c)	  
	 “Clause B Distribution”
	  	 	 	10.05(c)	  
	 “Clause C Distribution”
	  	 	 	10.05(c)	  
	 “Combination Settlement”
	  	 	 	10.03(a)	  
	 “Conversion Agent”
	  	 	 	2.06(a)	  
	 “Conversion Consideration”
	  	 	 	10.03(a)(ii)	  
	 “Conversion Date”
	  	 	 	10.02(a)	  
	 “Conversion Notice”
	  	 	 	10.02(a)	  
	 “Defaulted Amount”
	  	 	 	2.04(d)	  
	 “Default Interest”
	  	 	 	2.04(d)	  
	 “Dividend Threshold”
	  	 	 	10.05(c)	  
	 “Effective Date”
	  	 	 	10.05(m)	  
	 “Event of Default”
	  	 	 	6.01(a)	  
	 “Ex-Dividend Date”
	  	 	 	10.05(m)	  
	 “Expiration Time”
	  	 	 	10.05(c)	  
	 “Extension Fee”
	  	 	 	6.04(a)	  
	 “Financial Institution”
	  	 	 	10.11	  
	 “Fundamental Change Notice”
	  	 	 	3.02(a)	  
	 “Fundamental Change Notice Date”
	  	 	 	3.02(a)	  
	 “Fundamental Change Repurchase Date”
	  	 	 	3.01(c)	  
	 “Fundamental Change Repurchase Notice”
	  	 	 	3.03(a)(A)	  
	 “Fundamental Change Repurchase Price”
	  	 	 	3.01(b)	  
	 “Incumbency Certificate”
	  	 	 	7.03(n)	  
	 “Interest Payment Date”
	  	 	 	2.04(a)	  
	 “Maturity Date”
	  	 	 	2.04(a)	  
	 “Measurement Period”
	  	 	 	10.01(b)(ii)	  
	 “Merger Event”
	  	 	 	10.08(a)	  
	 “Merger Successor Corporation”
	  	 	 	10.08(a)	  
	 “Multi-Clause Distribution”
	  	 	 	10.05(c)	  
	 “Paying Agent”
	  	 	 	2.06(a)	  
	 “Physical Settlement”
	  	 	 	10.03(a)	  
	 “Redemption”
	  	 	 	11.02(a)	  
	 “Redemption Date”
	  	 	 	11.02(c)	  
	 “Redemption Notice”
	  	 	 	11.03	  
	 “Redemption Notice Date”
	  	 	 	11.03	  
	 “Redemption Price”
	  	 	 	11.02(b)	  
	 “Reference Property”
	  	 	 	10.08(a)	  
	 “Reference Property Unit”
	  	 	 	10.08(a)	  
	 “Register”
	  	 	 	2.06(a)	  
	 “Registrar”
	  	 	 	2.06(a)	  
	 “Regular Record Date”
	  	 	 	2.04(a)	  
	 “Reorganization Event”
	  	 	 	5.01	  
	 “Reorganization Successor Corporation”
	  	 	 	5.01(a)(ii)	  
	 “Reporting Event of Default”
	  	 	 	6.04(a)	  
	 “Restricted Note”
	  	 	 	2.10(a)	  
	 “Special Regular Record Date”
	  	 	 	2.04(d)(i)	  
	 “Spin-Off”
	  	 	 	10.05(c)	  
	 “Temporary Notes”
	  	 	 	2.12	  
	 “Trading Price Condition”
	  	 	 	10.01(b)(ii)	  
	 “Valuation Period”
	  	 	 	10.05(c)	  

  
 10 

 Section 1.03 Rules of Construction. 

(a) a term has the meaning assigned to it; 

(b) an accounting term not otherwise defined has the meaning assigned to it and will be construed in accordance with U.S. generally accepted
accounting principles; 
 (c) “or” is not exclusive; 

(d) “including” means including, without limitation; 

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

(f) all references to $, dollars, cash payments or money refer to United States currency; and 

(g) unless the context requires otherwise, all references to interest on the Notes (a) will include any Additional Interest payable
pursuant to Section 4.04 hereof and any Extension Fee payable pursuant to Section 6.04 hereof, (b) but, for the avoidance of doubt, will not include any Default Interest payable on a Defaulted Amount pursuant to the terms of
Section 2.04 hereof. 
 Section 1.04 Acts of Holders. Any request, demand, authorization, direction, notice, consent,
waiver or other action provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing;
and, except as herein otherwise expressly provided, such action will become effective when such instrument or instruments are delivered to the Trustee and to the Company. Such instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the “Act” of Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent will be sufficient for any purpose of this
Indenture and conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section 1.04. 
 (a) The fact
and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds,
certifying that the individual signing such instrument or writing acknowledged to such officer the execution thereof together with a medallion guarantee, if applicable. Where such execution is by a signer

  
 11 

 
acting in a capacity other than such signer’s individual capacity, such certificate or affidavit will also constitute sufficient proof of such signer’s authority. The fact and date of
the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient. 

(b) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Note will bind every future
Holder of the same Note and the Holder of every Note issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee, the Company, the Paying
Agent, the Conversion Agent or the Registrar in reliance thereon, whether or not notation of such action is made upon such Note. 
 (c) If
the Company will solicit from the Holders any request, demand, authorization, direction, notice, consent, waiver or other Act, the Company may, at its option, by or pursuant to a Board Resolution, fix in advance a record date for the determination
of Holders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other Act, but the Company will have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction,
notice, consent, waiver or other Act may be given before or after such record date, but only the Holders of record at the Close of Business on such record date will be deemed to be Holders for the purposes of determining whether Holders of the
requisite proportion of outstanding Notes have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and, for that purpose, the outstanding Notes will be computed as of such record
date; provided that no such authorization, agreement or consent by the Holders on such record date will be deemed effective unless it will become effective pursuant to the provisions of this Indenture not later than six months after the
record date. 
 ARTICLE II 

THE NOTES 

Section 2.01 Designation, Amount and Issuance of Notes. 

The Notes will be designated as “4.125% Convertible Senior Notes due 2020.” The initial aggregate principal amount of Notes to be
issued, authenticated and delivered on the Issue Date under this Indenture is $60,000,000. From time to time, the Company may issue and execute, and the Trustee may authenticate, Notes delivered upon registration of transfer of, or in exchange for,
or in lieu of, other Notes pursuant to Sections 2.09, 2.11, 2.12, 3.06 and 10.02 hereof. 
 Section 2.02 Form of Notes. 

(a) General. The Notes will be substantially in the form of Exhibit A hereto, but may include any notations, legends or
endorsements required by any applicable law (or regulation promulgated thereunder), stock exchange rule or usage, or any insertions, omissions or other variations otherwise permitted or required by this Indenture. Whenever any such notation, legend
or endorsement, or any such insertion, omission or other variation is applicable to a Note, the Company will provide such notation, legend or endorsement, or such insertion, omission or other variation to the Trustee in writing. 

  
 12 

 Each Note will bear a Trustee’s certificate of authentication substantially in the form set
forth in Exhibit A hereto. 
 Notes that are Global Notes will bear the Global Notes Legend and the “Schedule of Increases and
Decreases of Global Note” attached thereto. 
 Notes that are Restricted Notes will bear the Restricted Notes Legend. 

The terms and provisions contained in the Notes will constitute, and are hereby expressly made, a part of this Indenture and, to the extent
applicable, the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent that any provision of any Note conflicts with the express
provisions of this Indenture, the provisions of this Indenture will govern and control. 
 (b) Initial and Subsequent Notes.
The Notes initially will be issued in definitive form, registered in the name of City Index Group Limited. Except to the extent provided in Section 2.09(d) hereof, all Notes will be represented by one or more Definitive Notes. 

(c) Global Notes. Each Global Note will represent the aggregate principal amount of then outstanding Notes endorsed thereon and
provide that it represents such aggregate principal amount of then outstanding Notes, which aggregate principal amount may, from time to time, be reduced or increased to reflect transfers, exchanges, conversions, redemptions or repurchases by the
Company. 
 Only the Trustee, or the custodian holding such Global Note for the Depositary, at the direction of the Trustee, may endorse a
Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of then outstanding Notes represented thereby, and whenever the Holder of a Global Note delivers instructions to the Trustee to increase or decrease the
aggregate principal amount of then outstanding Notes represented by a Global Note in accordance with Section 2.09 hereof, the Trustee, or the custodian holding such Global Note for the Depositary, at the direction of the Trustee, will endorse
such Global Note to reflect such increase or decrease in the aggregate principal amount of then outstanding Notes represented thereby. None of the Trustee, the Company or any agent of the Trustee or the Company will have any responsibility or bear
any liability for any aspect of the records relating to, or payments made on account of, the ownership of any beneficial interest in a Global Note or with respect to maintaining, supervising or reviewing any records relating to such beneficial
interest. 
 Neither any member of, or participant in, the Depositary (collectively, the “Agent Members”) nor any other Person on
whose behalf an Agent Member may act will have any rights under this Indenture with respect to any Global Note or under such Global Note, and the Company, the Trustee and any agent of the Company or the Trustee, may, for all purposes, treat the
Depositary, or its nominee, if any, as the absolute owner and Holder of such Global Note. 

  
 13 

 The Holder of a Global Note may grant proxies and otherwise authorize any Person, including Agent
Members and Persons that may hold interests through Agent Members, to take any action that such Holder is entitled to take under this Indenture or the Notes with respect to such Global Note, and, notwithstanding the foregoing, nothing herein will
prevent the Company, the Trustee, the Paying Agent or any agent of the Company, the Trustee or the Paying Agent from giving effect to any written certification, proxy or other authorization furnished by such Holder or impair, as between the
Depositary, its Agent Members and any other Person on whose behalf an Agent Member may act, the operation of their respective customary practices governing the exercise of the rights of a Holder of any interest in any Global Note. 

Section 2.03 Denomination of Notes. The Notes will be issuable in registered form without coupons in minimum denominations of
$1,000 principal amount and in integral multiples of $1,000 in excess thereof. 
 Section 2.04 Payments. 

(a) General. 

(i) Payment at Maturity. Unless earlier paid or deemed paid pursuant to any of Sections 3.05, 10.03 or 11.06 hereof, the
Notes will mature on April 1, 2020 (the “Maturity Date”) and, on the Maturity Date, the Company will pay each Holder of Notes $1,000 in cash for each $1,000 principal amount of Notes held, together with accrued and unpaid interest to,
but not including, the Maturity Date on such Notes. 
 (ii) Payment of Interest. Each Note will accrue interest at a
rate equal to 4.125% per annum from the most recent date to which interest has been paid or duly provided for, or, if no interest has been paid or duly provided for, the Issue Date (or such other date provided for in Section 2.01(b) with
respect to Notes issued in accordance with such Section) until, subject to the provisions of clause (d) of this Section 2.04, the date the principal amount of such Note is paid or deemed paid, as the case may be, pursuant to clause
(i) of this Section 2.04(a) or any of Sections 3.05, 10.03 or 11.06 hereof. 
 Interest will be payable semi-annually in arrears
on April 1 and October 1 of each year (each, an “Interest Payment Date”), beginning October 1, 2015 (or such other date provided for in Section 2.01(b) with respect to Notes issued in accordance with such Section), to
the Holder of each such Note as of the Close of Business on the March 15 and September 15, as the case may be, immediately preceding the applicable Interest Payment Date (each such date, a “Regular Record Date”), regardless of
whether such Note is converted, repurchased or redeemed after such Regular Record Date. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months and, for partial months, on the basis of the number of days actually
elapsed in a 30-day month. 
 (iii) Method of Payment. The Company will pay the principal of, the Fundamental Change
Repurchase Price or the Redemption Price for, and the interest on, any Global Note to the Depositary by wire transfer of immediately available funds on the relevant payment date. 

  
 14 

 The Company will pay the principal of, the Fundamental Change Repurchase Price or Redemption
Price for, and any interest due on the Maturity Date on, any Definitive Note in cash to the applicable Holder of such Note at the office of the Paying Agent on the relevant payment date. The Company will pay interest due, on an Interest Payment
Date, on any Definitive Note (except interest due on the Maturity Date) to the applicable Holder of such Note (i) if such Holder holds $5,000,000 or less aggregate principal amount of Notes, by check mailed to such Holder’s registered
address, and (ii) if such Holder holds more than $5,000,000 aggregate principal amount of Notes, (A) by check mailed to such Holder’s registered address or (B) if such Holder delivers, not later than the Regular Record Date
relating to such Interest Payment Date, a written request to the Registrar that the Company make such payments by wire transfer to an account of such Holder within the United States, by wire transfer of immediately available funds to such account,
which request shall remain in effect until such Holder notifies, in writing, the Registrar to the contrary. 
 (b) Interest Rights
Preserved. Subject to the provisions of Section 2.04(d) hereof, and, to the extent applicable, Sections 2.09 and 2.11 hereof, each Note delivered under this Indenture upon registration of transfer of, or in exchange for, or in lieu of, any
other Note will carry any rights to the payment and accrual of interest that were carried by the relevant surrendered Note, Notes, or portion(s) thereof. 

(c) Additional Interest; Extension Fee. Pursuant to Section 4.04 hereof, in certain circumstances, Additional Interest will accrue
on the Notes. Pursuant to Section 6.04 hereof, in certain circumstances, the Company may, at its election, be obligated to pay Holders the Extension Fee. Unless the context requires otherwise, all references in this Indenture to interest on the
Notes will include such Additional Interest and Extension Fee, but will not include any Default Interest payable pursuant to Section 2.04(d) hereof. 

(d) Defaulted Amounts. Whenever any amount payable on a Note (including, the principal of, the Fundamental Change Repurchase Price or
Redemption Price for, and interest on, such Note) has become due and payable, but the Company fails to punctually pay or duly provide for such amount (any such amount, a “Defaulted Amount”), such Defaulted Amount will forthwith cease to be
payable to the Holder of such Note on the relevant payment date by virtue of its having been due such payment on such payment date, but will instead, to the extent permitted under applicable law, accrue interest (“Default Interest”) at a
rate equal to 4.125% per annum from, and including, such payment date and to, but excluding, the date on which such Defaulted Amount is paid by the Company in accordance with either clause (i) or (ii) below. 

(i) The Company may elect to pay any Defaulted Amount and Default Interest on such Defaulted Amount 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 Amount and Default Interest (a “Special Regular Record Date”) fixed in accordance
with the following procedures: 
 (1) At least 30 days before the date on which the Company proposes to pay such Defaulted
Amounts and Default Interest thereon, the Company will deliver to the Trustee written notice of (I) the proposed payment date for such Defaulted Amounts and Default Interest thereon and (II) the aggregate amount of such Defaulted Amounts and
Default Interest thereon. 

  
 15 

 (2) Simultaneously with delivering such notice to the Trustee, the Company will
either (I) deposit with the Trustee an amount of money, in immediately available funds, equal to the aggregate amount of such Defaulted Amounts and Default Interest thereon, or (II) take other actions that the Trustee deems reasonably
satisfactory to ensure that an amount of money, in immediately available funds, equal to the aggregate of such Defaulted Amounts and Default Interest thereon will be deposited with the Trustee by 11:00 a.m., New York City time, on the day that is
five Business Days prior to the proposed payment date, and in either case, upon receipt of such money, the Trustee will hold such money in trust for the benefit of the Persons entitled to such Defaulted Amounts and Default Interest pursuant to this
Section 2.04(d)(i). 
 (3) Upon (i) receipt of such notice and (ii) the Company’s depositing such money
or taking such other actions reasonably satisfactory to the Trustee, the Company will promptly fix a Special Regular Record Date for the payment of such Defaulted Amounts and Default Interest thereon, which Special Regular Record Date will be not
more than 15 calendar days and not less than 10 days prior to the proposed payment date, and notify the Trustee of the Special Regular Record Date. The Trustee will then, in the name and at the expense of the Company, deliver notice to each Holder
specifying such Special Regular Record Date and the date on which such Defaulted Amounts and Default Interest thereon will be paid by the Company. 

(4) After such notice has been delivered by the Trustee, such Defaulted Amounts and Default Interest thereon will be paid to
the Persons in whose names the Notes (or their respective predecessor Notes) are registered at the Close of Business on the Special Regular Record Date specified in such notice and such Defaulted Amounts and Default Interest thereon will no longer
be payable pursuant to the following clause (ii) of this Section 2.04(d)(i). 
 (ii) The Company may pay any
Defaulted Amounts and Default Interest on such Defaulted Amounts in any other lawful manner that is not inconsistent with the requirements of any securities exchange or automated quotation system on which the Notes are then listed (or, if
applicable, have been approved for listing) 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 of the proposed payment pursuant to
this clause, such manner of payment will be deemed practicable by the Trustee. 
 Section 2.05 Execution and Authentication.

 (a) In General. A Note will be valid only if executed by the Company and authenticated by the Trustee. 

(b) Execution. A Note will be deemed to have been executed by the Company when an Officer signs such Note on behalf of the Company. The
Officer’s signature may be manual or facsimile, and the validity of such Officer’s signature will not turn on whether such signatory remains an Officer at the time the Trustee authenticates such Note. 

  
 16 

 (c) Authentication. A Note will be deemed authenticated when an authorized signatory of
the Trustee manually signs the certificate of authentication on such Note. An authorized signatory of the Trustee will manually sign the certificate of authentication on a Note only if (i) the Company delivers such Note to the Trustee,
(ii) such Note is validly executed by the Company in accordance with Section 2.05(b) hereof, and (iii) the Company delivers, before or with such Note, a Company Order setting forth (A) a request that the Trustee authenticate such
Note; (B) the principal amount of such Note; (C) the name of the Holder of such Note, (D) the date on which such Note is to be authenticated; and (E) any insertions, omissions or other variations, notations, legends or
endorsements permitted under Section 2.02 hereof and applicable to such Note. If the Company Order also specifies that the Trustee must deliver such Note to the Holder or the Depositary, the Trustee will promptly deliver such Note in accordance
with such Company Order. 
 The Trustee may appoint an authenticating agent. If the Trustee appoints an authenticating agent and such
authenticating agent is reasonably acceptable to the Company, such authenticating agent may authenticate a Note whenever the Trustee may authenticate such Note. For purposes of this provision, each reference in this Indenture to authentication by
the Trustee will be deemed to include authentication by an authenticating agent, and an authenticating agent will have the same rights to deal with the Company as the Trustee would have if it were performing the duties that the authentication agent
was validly appointed to undertake. 
 Section 2.06 Registrar, Paying Agent and Conversion Agent. 

(a) General. The Company will maintain an office or agency in the continental United States where Notes may be presented for
registration of transfer or for exchange (the “Registrar”), an office or agency where the Notes may be presented for payment, repurchase or redemption (the “Paying Agent”), an office or agency where the Notes may be presented for
conversion (the “Conversion Agent”) and an office or agency where notices and demands to, or upon, the Company with respect to the Notes and this Indenture may be served. 

The Registrar will keep a register for the recordation of, and will record, the names and addresses of Holders, the Notes held by each Holder
and the transfer, exchange, repurchase, redemption and conversion of Notes (the “Register”). Absent manifest error, the entries in the Register will be conclusive and the parties may treat each Person whose name is recorded in the Register
pursuant to the terms hereof as a Holder hereunder for all purposes of this Indenture. The Register will be in written form or in any form capable of being converted into written form within a reasonably prompt period of time. 

The Company may have one or more registrars, one or more paying agents, one or more conversion agents and one or more places where notices and
demands to, or upon, the Company with respect to the Notes and this Indenture may be served. Before appointing any Registrar, Paying Agent or 

  
 17 

 
Conversion Agent that is not otherwise a party to this agreement, the Company will enter into an appropriate agency agreement with such Registrar, Paying Agent or Conversion Agent, as the case
may be, which agency agreement will implement the provisions of this Indenture that relate to such replacement or additional registrar, paying agent or conversion agent, as the case may be. The term Registrar includes any additional registrars named
pursuant to this Indenture. The term Paying Agent includes any additional paying agent named pursuant to this Indenture. The term Conversion Agent includes any additional conversion agent named pursuant to this Indenture. Upon the occurrence of any
Event of Default under Section 6.01(a)(ix) or 6.01(a)(x) with respect to the Company, the Trustee shall be the Paying Agent. 
 (b)
Initial Designations. The Company initially appoints the Trustee as each of the Registrar, the Paying Agent, Conversion Agent, and the Notes initially may be presented for registration of transfer or for exchange, payment, repurchase,
redemption and conversion to the Trustee, in its capacity as the Registrar, Paying Agent or Conversion Agent, as the case may be, at the Corporate Trust Office. Notices and demands to, or upon, the Company with respect to the Notes and this
Indenture may be served at the Corporate Trust Office. 
 (c) Removal, Resignation and Replacement. The Company may remove any
Registrar, Paying Agent or Conversion Agent by delivering written notice to the Trustee and to such Registrar, Paying Agent or Conversion Agent; provided, however, that no such removal will become effective unless (i) after such
removal, at least one Registrar, Paying Agent and Conversion Agent will remain, (ii) a successor has accepted appointment as Registrar, Paying Agent or Conversion Agent, as the case may be, the Company and such successor have entered into an
agency agreement in accordance with Section 2.06(a) hereof, and the Company has delivered written notice of such appointment and a copy of such agency agreement to the Trustee, or (iii) the Company has delivered written notice to the
Trustee that the Trustee will serve as the successor Registrar, Paying Agent or Conversion Agent, as the case may be, in accordance with Section 2.06(d) hereof; and provided, further, that the right to effect any such change or
removal in no way relieves the Company of its obligation to maintain a Registrar, Paying Agent and Conversion Agent in the continental United States. The Company may also change the place where notices and demands to, or upon, the Company with
respect to the Notes and this Indenture may be served, or reduce the number of such places; provided, however, that the right to effect any such change or reduction in no way relieves the Company of its obligation to maintain a place
in the continental United States where notices and demands to, or upon, the Company with respect to the Notes and this Indenture may be served. 

In addition, the Registrar, Paying Agent or Conversion Agent may resign at any time by delivering written notice of such resignation to each
of the Company and the Trustee. If, after any such resignation, at least one Registrar, Paying Agent and Conversion Agent does not remain, the Trustee will immediately be deemed to serve such empty office or agency in accordance with
Section 2.06(d) hereof. 
 (d) Failure to Maintain an Office or Agency. If the Company fails to maintain in the continental
United States, a Registrar, Paying Agent, Conversion Agent or place where notices and demands to, or upon, the Company with respect to the Notes and this Indenture may be served, the Trustee will act as the Registrar, Paying Agent, Conversion Agent,
or place, as the case may be, and the office where the Notes may be presented for registration of transfer or for 

  
 18 

 
exchange, presented for payment, repurchase or redemption or surrendered for conversion, or place where notices and demands to, or upon, the Company with respect to the Notes and this Indenture
may be served, as the case may be, will be the Corporate Trust Office. In each such case, the Trustee will be entitled to compensation for such action pursuant to Section 7.06 hereof. 

(e) Notices. Promptly upon the effectiveness of any removal or appointment of a Registrar, Paying Agent or Conversion Agent, or upon
any change in the location of the office of any Registrar, Paying Agent or Conversion Agent, or of the place where notices and demands to, or upon, the Company with respect to the Notes and this Indenture may be served, the Company will deliver to
each Holder notice of such removal, appointment or change in location, as the case may be, which notice will include a brief description of the removal, appointment or change in location, as the case may be, and list the name and address of each
continuing (and newly appointed, if applicable) Registrar, Paying Agent and Conversion Agent and place where notices and demands to, or upon, the Company with respect to the Notes and this Indenture may be served. 

Section 2.07 Money and Securities Held in Trust. 

Except as otherwise provided herein, by no later than 11:00 a.m., New York City time, on each due date for a payment on any Note, the Company
will deposit with the Paying Agent an amount of money in immediately available funds, if deposited on the due date sufficient to make such payment when due. 

The Company will require that each Paying Agent (other than the Trustee, if the Trustee is a Paying Agent) agree in writing that it will
(i) segregate all money and securities it holds for making payments with respect to the Notes; (ii) hold such money and securities in trust for the benefit of Holders; and (iii) notify the Trustee, in writing, as promptly as
practicable, if the Company defaults in making any payment on the Notes. 
 If any such default has occurred and is continuing, the Paying
Agent will, upon receiving a written request from the Trustee, forthwith pay to the Trustee all of the money and securities it holds in trust. In addition, at any time, the Company may require a Paying Agent to pay all money and securities that it
holds for making payments with respect to the Notes to the Trustee and to account for any money and securities it has disbursed. After delivering all of such money and securities to the Trustee pursuant to this Section 2.07, the Paying Agent
(in its capacity as such) will have no further liability for such money and securities. 
 Section 2.08 Holder Lists. 

The Trustee will preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of
Holders. If the Trustee is not the Registrar, the Company will furnish to the Trustee, (i) within five Business Days after each Regular Record Date, a list of the names and addresses of Holders as of such Regular Record Date, and (ii) at
such other times as the Trustee may request in writing, within 30 days after receipt by the Company of such request, a list of the names and addresses of Holders as of no more than 15 days immediately prior to the date such list is furnished, in
each case, in such form as the Trustee may reasonably require. 

  
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 Section 2.09 Transfer and Exchange. 

(a) Provisions Applicable to All Transfers and Exchanges. 

(i) Subject to the restrictions set forth in this Section 2.09, Definitive Notes and beneficial interests in Global Notes
may be transferred or exchanged from time to time as desired, and each such transfer or exchange will be noted by the Registrar in the Register. 

(ii) All Notes issued upon any registration of transfer or exchange in accordance with this Indenture will 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. 

(iii) No service charge will be imposed on any Holder of a Definitive Note or any owner of a beneficial interest in a Global
Note for any exchange or registration of transfer, but each of the Company, the Trustee or the Registrar may require such Holder or owner of a beneficial interest to pay a sum sufficient to cover any transfer tax, assessment or other governmental
charge imposed in connection with such registration of transfer or exchange. 
 (iv) Unless the Company specifies otherwise,
none of the Company, the Trustee, the Registrar or any co-registrar will be required to exchange or register a transfer of any Note (i) surrendered for conversion, except to the extent that any portion of such Note has not been surrendered for
conversion, (ii) subject to a Fundamental Change Repurchase Notice validly delivered pursuant to Section 3.03 hereof, except to the extent any portion of such Note is not subject to a Fundamental Change Repurchase Notice or the Company
fails to pay the applicable Fundamental Change Repurchase Price when due, or (iii) after the Company has delivered a Redemption Notice pursuant to Section 11.03 hereof, except to the extent the Company fails to pay the applicable
Redemption Price when due. 
 (v) The Trustee will have no obligation or duty to monitor, determine or inquire as to
compliance with any restrictions on Transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among Depositary participants or beneficial owners of
interests in any Global Note) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of this Indenture, and to examine the same
to determine substantial compliance as to form with the express requirements hereof. 
 (vi) No Definitive Notes may be
exchanged for, or transferred with the Holder taking delivery in the form of, Global Notes unless and until the transfer restrictions described in Section 2.10 and in the restrictive legend on the face of such Definitive Notes no longer applies
to such Definitive Notes. 

  
 20 

 (b) In General; Transfer and Exchange of Beneficial Interests in Global Notes. So long as
the Notes are eligible for book-entry settlement with the Depositary (unless otherwise required by law and except to the extent required by Section 2.09(c) hereof): 

(i) every transfer and exchange of a beneficial interest in a Global Note will be effected through the Depositary in accordance
with the Applicable Procedures and the provisions of this Indenture (including the restrictions on Transfer set forth in Section 2.10 hereof); and 

(ii) each Global Note may be transferred only as a whole and only (A) by the Depositary to a nominee of the Depositary,
(B) by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or (C) by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. 

(c) Transfer and Exchange of Global Notes. 

(i) Notwithstanding any other provision of this Indenture, each Global Note will be exchanged for Definitive Notes if the
Depositary delivers notice to the Company that: 
 (1) the Depositary is unwilling or unable to continue to act as
Depositary; or 
 (2) the Depositary is no longer registered as a clearing agency under the Exchange Act, 

and, in each case, the Company promptly delivers a copy of such notice to the Trustee and the Company fails to appoint a successor Depositary within 90 days
after receiving notice from the Depositary. 
 In each such case, (1) each Global Note will be deemed surrendered to the Trustee for
cancellation, (2) the Trustee will promptly cancel each such Global Note in accordance with the Applicable Procedures, (3) the Company, (x) in accordance with Section 2.05 hereof, will promptly execute, for each beneficial
interest in each Global Note so cancelled, an aggregate principal amount of Definitive Notes equal to the aggregate principal amount of such beneficial interest, registered in such name and authorized denominations as the Depositary specifies, and
bearing such legends as such Definitive Notes are required to bear under Section 2.02 and Section 2.10 hereof, and, (y) as provided in Section 2.05(c) hereof, will promptly deliver to the Trustee such Definitive Notes and a
Company Order including the information specified in Section 2.05(c) hereof with respect to such Definitive Notes, and (4) the Trustee, upon receipt of such Definitive Notes and such Company Order, in accordance with Section 2.05
hereof, will promptly authenticate, and deliver to the Holder specified in such Company Order, such Definitive Notes. 

  
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 (ii) In addition: 

(1) if an Event of Default has occurred and is continuing, any owner of a beneficial interest in a Global Note may exchange
such beneficial interest for Definitive Notes by delivering a written request to the Company, the Registrar and the Trustee; or 

(2) at any time, the Company may, in its sole discretion, at the request of the owner of a beneficial interest in a Global
Note, permit the exchange of such owner’s beneficial interest, by delivering a written request to the Registrar, the Trustee and the owner of such beneficial interest. 

In each case, (1) upon receipt of such request, the Registrar will promptly deliver written notice of such request to the Company and the
Trustee, which notice must identify the owner of the beneficial interest to be exchanged, the aggregate principal amount of such beneficial interest and the CUSIP number of the relevant Global Note; (2) the Trustee, upon receipt of such notice,
will promptly cause the aggregate principal amount of such Global Note to be reduced by the aggregate principal amount of the beneficial interest to be so exchanged in accordance with the Applicable Procedures, (3) the Company (x) in
accordance with Section 2.05 hereof, will promptly execute, for such beneficial interest, a Definitive Note having aggregate principal amount equal to the aggregate principal amount of such beneficial interest, registered in the name of the
owner specified in the notice delivered by the Registrar, and bearing such legends as such Definitive Note is required to bear under Sections 2.02 and 2.10 hereof, and, (y) as provided in Section 2.05(c) hereof, will promptly deliver to
the Trustee such Definitive Note and a Company Order including the information specified in Section 2.05(c) hereof with respect to such Definitive Note, and (4) the Trustee, upon receipt of such Definitive Note and such Company Order, will
promptly, in accordance with Section 2.05 hereof, authenticate, and deliver to the Holder specified in such Company Order, such Definitive Note. If, after such exchange, all of the beneficial interests in a Global Note have been exchanged for
Definitive Notes, such Global Note will be deemed surrendered to the Trustee for cancellation, and the Trustee will cause such Global Note to be cancelled in accordance with the Applicable Procedures. 

(d) Transfer and Exchange of Definitive Notes. As of the Issue Date, all Notes will be represented by one or more Definitive Notes. A
Holder may: 
 (i) transfer a Definitive Note by: (A) surrendering such Definitive Note for registration of transfer to
the Registrar, together with any endorsements or instruments of transfer reasonably required by any of the Company, the Trustee and the Registrar; (B) if such Definitive Note is a Restricted Note, delivering any documentation that any of the
Company, the Trustee and the Registrar require to ensure that such transfer complies with Section 2.10 hereof and any applicable securities laws; and (C) satisfying any other requirements for such transfer set forth in this
Section 2.09 and Section 2.10 hereof. Upon the satisfaction of conditions (A), (B) and (C), (1) the Company, (x) in accordance with Section 2.05 hereof, will promptly execute a new Definitive Note, in the name of the
designated transferee, having an aggregate principal amount equal to that of the transferred Definitive Note and bearing such legends as such Definitive Note is required to bear under Sections 2.02 and 2.10 hereof, and (y) as provided in
Section 2.05(c) hereof, will promptly deliver to the Trustee such Definitive 

  
 22 

 
Note and a Company Order including the information specified in Section 2.05(c) with respect to such Definitive Note, and (2) the Trustee, upon receipt of such Definitive Note and such
Company Order, will promptly, in accordance with Section 2.05 hereof, authenticate, and deliver to the Holder specified in such Company Order, such Definitive Note. 

(ii) exchange one or more Definitive Notes for one or more other Definitive Notes of any authorized denominations, and in
aggregate principal amount equal to the aggregate principal amount of the one or more Definitive Notes to be exchanged, by surrendering such one or more Definitive Notes, together with any endorsements or instruments of transfer reasonably required
by any of the Company, the Trustee and the Registrar, at any office or agency maintained by the Company for such purposes pursuant to Section 2.06 hereof. Whenever a Holder so surrenders one or more Definitive Notes for exchange, (1) the
Company, (x) in accordance with Section 2.05 hereof, will promptly execute one or more new Definitive Notes, each in the name of such Holder, in the authorized denomination or denominations that such Holder requested (which authorized
denomination or authorized denominations, as the case may be, must, in aggregate, equal the aggregate principal amount of the one or more Definitive Notes to be exchanged), and bearing a unique registration number not contemporaneously outstanding
and such legends as such Definitive Note is required to bear under Sections 2.02 and 2.10 hereof, and (y) as provided in Section 2.05(c) hereof, will promptly deliver to the Trustee each such Definitive Note and a Company Order including
the information specified in Section 2.05(c) with respect to each such Definitive Note, and (2) the Trustee, upon receipt of each such Definitive Note and such Company Order, will promptly, in accordance with Section 2.05 hereof,
authenticate, and deliver to the Holder specified in such Company Order, each such Definitive Note. 
 (iii) subject to
Section 2.09(a)(vi), transfer or exchange a Definitive Note for a beneficial interest in a Global Note by (A) surrendering such Definitive Note for registration of transfer or exchange, together with any endorsements or instruments of
transfer reasonably required by any of the Company, the Trustee and the Registrar, at any office or agency maintained by the Company for such purposes pursuant to Section 2.06 hereof; (B) if such Definitive Note is a Restricted Note,
delivering any documentation that any of the Company, the Trustee and the Registrar require to ensure that such transfer complies with Section 2.10 hereof and any applicable securities laws; (C) satisfying any other requirements for such
transfer set forth in this Section 2.09 and Section 2.10 hereof; and (D) providing written instructions to the Trustee to make an adjustment in its books and records with respect to the applicable Global Note to reflect an increase in
the aggregate principal amount of the Notes represented by such Global Note, which instructions will contain information regarding the Depositary account to be credited with such increase. Upon the satisfaction of conditions (A), (B), (C) and
(D), the Trustee (1) will promptly cancel such Definitive Note and, (2) will promptly cause the aggregate principal amount of Notes represented by such Global Note to be increased by the aggregate principal amount of such Definitive Note,
and credit, or cause to be credited, the account of the Person specified in the instructions provided by the exchanging Holder in an amount equal to the aggregate principal amount of such 

  
 23 

 
Definitive Note, in each case, in accordance with the Applicable Procedures. If at the time of such exchange, no Global Notes are then outstanding, the Company, (x) in accordance with
Section 2.05 hereof, will promptly execute and deliver to the Trustee, a new Global Note registered in the name of the Depositary or a nominee of the Depositary, as the case may be, having the appropriate aggregate principal amount, and bearing
such legends as such Global Note is required to bear under Sections 2.02 and 2.10 hereof, and (y) as provided in Section 2.05(c) hereof, will promptly deliver to the Trustee such Global Note and a Company Order including the information
specified in Section 2.05(c) with respect to such Global Note, and (2) the Trustee, upon receipt of such Global Note and such Company Order, will promptly, in accordance with Section 2.05 hereof, authenticate, and deliver to the
depositary, its nominee, or a custodian of the depositary or its nominee, as the case may be, such Global Note. 
 Section 2.10
Transfer Restrictions. 
 (a) Restricted Notes. 

(i) General. Each Note (and every security issued in exchange therefor or substitution thereof, except any shares of
Common Stock issued upon conversion thereof, which may bear the Restricted Stock Legend) that bears, or that is required under this Section 2.10 to bear, the Restricted Notes Legend will be deemed a “Restricted Note,” and will be
subject to the restrictions on Transfer set forth in this Indenture (including in the Restricted Notes Legend) unless such restrictions on Transfer are eliminated or otherwise waived by written consent of the Company, and each Holder of a Restricted
Note, by such Holder’s acceptance of such Restricted Note, will be deemed to be bound by the restrictions on Transfer applicable to such Note. 

(ii) When Restrictions Apply. Except as provided elsewhere in this Indenture (including clause (iii) of this
Section 2.10(a)), every certificate evidencing a Note (and every security issued in exchange therefor or substitution thereof, except any shares of Common Stock issued upon the conversion thereof, which may be required to bear the Restricted
Stock Legend) will bear the Restricted Notes Legend unless: 
 (1) such Note is being Transferred to a Person (other than
(x) the Company or (y) an affiliate (as defined in Rule 144) of the Company (including, for the avoidance of doubt, any Person or entity that was an affiliate of the Company during the immediately preceding three months)) pursuant to a
registration statement that was effective under the Securities Act at the time of such Transfer; or 
 (2) such Note is
being Transferred to a Person (other than (x) the Company or (y) an affiliate (as defined in Rule 144) of the Company (including, for the avoidance of doubt, any Person or entity that was an affiliate of the Company during the immediately
preceding three months)) pursuant to an available exemption from the registration requirements of the Securities Act (including Rule 144) and, after such Transfer, such Note will no longer constitute a “restricted security” (within the
meaning of Rule 144), 

  
 24 

 and, with respect to clause (2) of this Section 2.10(a)(ii), the Holder effecting such Transfer
delivers to the Trustee, the Company and the Registrar any documents or evidence required pursuant to the Restricted Notes Legend or this Indenture (including, in the case of Definitive Notes, clause (iii) of this Section 2.10(a)). 

(iii) Termination of Transfer Restrictions. Except as otherwise provided in this Indenture or as permitted under the
terms of the Restricted Notes Legend, if a Holder requests that the Company remove the Restricted Notes Legend from a Definitive Note that is a Restricted Note, the Restricted Notes Legend will not be removed from such Restricted Note unless such
Holder delivers, (1) to each of the Company and the Registrar a transfer certificate in the form attached as Exhibit B hereto and, (2) to each of the Company, the Registrar and the Trustee, any evidence that each of the Company, the
Registrar and the Trustee, as the case may be, reasonably require, that (x) neither the Restricted Notes Legend nor the Transfer restrictions set forth therein are required to ensure that Transfers of such Restricted Note will comply with
applicable law and (y) after such Transfer, such Restricted Note will not be a “restricted security” (within the meaning of Rule 144); provided, however, that, upon provision of such required transfer certificate and
evidence, the Company, the Trustee and the Registrar will permit such Restricted Note to be exchanged in accordance with Section 2.09(d)(ii) hereof for one or more new Definitive Notes that do not bear the Restricted Notes Legend. In addition,
upon receipt by the Trustee and the Registrar of a Company Order specifying that a Note need not bear the Restricted Notes Legend to comply with applicable law, each of the Trustee and the Registrar will permit such Note to be exchanged in
accordance with Section 2.09(d)(ii) hereof for one or more new Definitive Notes that do not bear the Restricted Notes Legend. 

(iv) Reinstatement of Restricted Notes Legend. If the Restricted Notes Legend is removed from the face of a Note and the
Note is subsequently held by the Company, an affiliate (as defined in Rule 144) of the Company or any Person or entity that was an affiliate of the Company during the immediately preceding three months, the Restricted Notes Legend will be
reinstated. 
 (b) Restricted Stock. If any shares of Common Stock are issued upon conversion of any Notes, then any certificate
representing such shares of Common Stock will, upon such issuance, bear the Restricted Stock Legend unless: 
 (i) such
shares of Common Stock are being issued to a Person (other than (x) the Company or (y) an affiliate (as defined in Rule 144) of the Company (including, for the avoidance of doubt, any Person or entity that was an affiliate of the Company
during the immediately preceding three months)) pursuant to a registration statement that is effective under the Securities Act at the time of such issuance; 

(ii) such shares of Common Stock are being issued to a Person (other than (x) the Company or (y) an affiliate (as
defined in Rule 144) of the Company (including, for the avoidance of doubt, any Person or entity that was an affiliate of the Company during the immediately preceding three months)) pursuant to an available exemption from the registration
requirements of the Securities Act such that, upon issuance, such shares of Common Stock will not constitute “restricted securities” (within the meaning of Rule 144); or 

  
 25 

 (iii) the Company delivers written notice to the Transfer Agent and the Registrar
stating that the certificate representing such shares of Common Stock need not bear the Restricted Stock Legend to comply with applicable law. 

Section 2.11 Replacement Notes. 

If (a)(i) a mutilated Note is surrendered to the Registrar or (ii) the Holder of a Note claims that such Note has been lost, destroyed or
stolen and provides the Company and the Trustee with (A) evidence of such loss, theft or destruction that is reasonably satisfactory to the Company and the Trustee and (B) any amount or kind of security or indemnity that either of the
Company or the Trustee reasonably request to protect itself from any loss that it may suffer upon replacement of such Note, and, in either case, (b) such Holder satisfies any other reasonable requirements of the Trustee, including the payment
of any tax or other governmental charge that may be imposed in connection with the replacement of such Note, then, unless the Company or the Trustee receives notice that such Note has been acquired by a bona fide purchaser, the Company will, in
accordance with Section 2.05 hereof, promptly execute and deliver to the Trustee, and the Trustee, upon receipt of a Company Order, in accordance with Section 2.05 hereof, and the documents required by Sections 12.03 and 12.04 hereof, will
promptly authenticate and deliver, in the name of such Holder, a replacement Note having the same aggregate principal amount as the Note that was mutilated or claimed to be lost, destroyed or stolen, bearing any restrictive legends required by
Section 2.02 or 2.10 hereof and with a certificate number not contemporaneously outstanding. 
 Every new Note issued pursuant to this
Section 2.11 in exchange for any mutilated Note, or in lieu of any destroyed, lost or stolen Note, will constitute an original contractual obligation of the Company and any other obligor upon the Notes, regardless of whether the mutilated,
destroyed, lost or stolen Note will be at any time enforceable by anyone, and will be entitled to all benefits of (and will be subject to all the limitations set forth in) this Indenture equally and proportionately with any and all other Notes duly
issued hereunder. 
 Section 2.12 Temporary Notes. Until new Definitive Notes are ready for delivery, the Company may execute
and the Trustee or an authenticating agent appointed by the Trustee will, upon written request of the Company, authenticate and deliver temporary Notes (printed or lithographed) (“Temporary Notes”). Temporary Notes will be issuable in any
authorized denomination, and substantially in the form of Definitive Notes, but with such omissions, insertions and variations as may be appropriate for Temporary Notes, all as may be determined by the Company. Every such Temporary Note will be
executed by the Company and authenticated by the Trustee or such authenticating agent upon the same conditions and in substantially the same manner, and with the same effect, as the Definitive Notes. Without unreasonable delay the Company will
prepare, execute and deliver to the Trustee or such authenticating agent Definitive Notes (other than any Global Note) and thereupon any or all Temporary Notes (other than any Global Note) may be surrendered in exchange therefor, at each office or
agency maintained by the Company pursuant to Section 2.06 hereof and the Trustee or such authenticating agent will authenticate and deliver in exchange for such Temporary Notes 

  
 26 

 
Definitive Notes having an aggregate principal amount equal to such Temporary Notes. Such exchange will be made by the Company at its own expense and without any charge therefor. Until so
exchanged, the Temporary Notes will, in all respects, be entitled to the same benefits and subject to the same limitations under this Indenture as Definitive Notes authenticated and delivered hereunder. 

Section 2.13 Cancellation. At any time, the Company may deliver Notes to the Trustee for cancellation. Whenever any Note is
surrendered to the Registrar, Conversion Agent or Paying Agent for registration of transfer, exchange, conversion, repurchase, redemption or payment, the Registrar, Conversion Agent or Paying Agent, as the case may be, will promptly forward such
Note to the Trustee. Upon receipt of any such Note, the Trustee, in its customary manner, will promptly cancel and dispose of such Note. The Company may not issue new Notes to replace Notes that it has repurchased, redeemed, paid or delivered to the
Trustee for cancellation or that a Holder has converted pursuant to Article 10 hereof. 
 Section 2.14 Outstanding Notes. At any
time, Notes outstanding are limited to all Notes authenticated by the Trustee except (i) those cancelled by it, (ii) those delivered to it for cancellation and (iii) those deemed not outstanding under Sections 3.05, 10.02 and 11.06
hereof and clauses (a) and (b) of this Section 2.14. 
 (a) If a Note is replaced pursuant to Section 2.11 hereof, such
Note will cease to be outstanding at the time of its replacement unless the Trustee and the Company receive proof satisfactory to them that such Note is held by a bona fide purchaser. 

(b) In addition, if the Company, any other obligor or an Affiliate of the Company (other than City Index Group Limited; INCAP Gaming B.V.; Sun
Luxco I, Sarl; Sun Luxco II, Sarl; or Francisco Partners II, L.P.) or an Affiliate of such other obligor (other than City Index Group Limited; INCAP Gaming B.V.; Sun Luxco I, Sarl; Sun Luxco II, Sarl; or Francisco Partners II, L.P.) holds a Note,
such Note will be disregarded and deemed not to be outstanding for purposes of determining whether the Holders of the requisite aggregate principal amount of Notes have given or concurred in any request, demand, authorization, direction, notice,
consent, waiver or other action hereunder. Subject to the foregoing, only Notes outstanding at the time of any such determination will be considered in such determination (including determinations pursuant to Article 6 and Article 9 hereof). 

(c) In determining whether the Trustee shall be protected in relying upon any request, demand, authorization, direction, notice, consent or
waiver from the Holders, only Notes which a Trust Officer assigned to the Corporate Trust Department of the Trustee knows to be owned by the Company or any other obligor upon the Notes or any Affiliate of the Company or such other obligor (in each
case, other than City Index Group Limited; INCAP Gaming B.V.; Sun Luxco I, Sarl; Sun Luxco II, Sarl; or Francisco Partners II, L.P.) shall be so disregarded. Notes so owned which have been pledged in good faith may be regarded as outstanding if the
pledgee establishes to the satisfaction of the Trustee the pledgee’s right to act as owner with respect to such Notes and that the pledgee is not the Company or any other obligor upon the Notes or any Affiliate of the Company or such other
obligor. 

  
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 Section 2.15 Persons Deemed Owners. Prior to due presentment of a Note for
registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Note is registered in the Register as the owner of such Note for the purpose of receiving the payment of the
principal, Fundamental Change Repurchase Price or Redemption Price of, and interest, if any, on, such Note, for the purpose of conversion of such Note and for all other purposes whatsoever with respect to such Note, and none of the Company, the
Trustee or any agent of the Company or the Trustee will be affected by any notice to the contrary. 
 Section 2.16 Repurchases.
The Company may, from time to time, repurchase Notes in open market purchases or in negotiated transactions without delivering prior notice to Holders. 

Section 2.17 CUSIPs. 

(a) Whenever “CUSIP” and “ISIN” numbers are generally in use, the Company will use CUSIP and ISIN numbers with respect to
the Notes, which CUSIP and ISIN numbers (i) for Restricted Notes, will be restricted numbers, and (ii) for Notes that are not Restricted Notes, will be unrestricted numbers. Whenever the Company uses CUSIP and ISIN numbers, the Trustee
will also use CUSIP and ISIN numbers in each notice it delivers to the Holders; provided, that neither the Company nor the Trustee will be responsible for any defect in any CUSIP or ISIN number that appears on any Note, check, advice of
payment or notice, including any notice delivered pursuant to Section 11.03. The Company will promptly notify the Trustee in writing in the event of any change in the CUSIP or ISIN numbers. 

(b) In addition, if, when any shares of Common Stock are issued upon conversion of a Note, CUSIP and ISIN numbers are generally in use, the
Company will use CUSIP and ISIN numbers with respect to such shares of Common Stock, which CUSIP and ISIN numbers (i) for shares of Common Stock to which the restrictions on Transfer set forth in the Restricted Stock Legend apply, will be
restricted numbers, and (ii) for shares of Common Stock to which the restrictions on Transfer set forth in the Restricted Stock Legend do not apply, will be unrestricted numbers. 

(c) Whenever any of the CUSIP or ISIN numbers with respect to the Notes or the shares of Common Stock issuable upon conversion of the Notes
change, cease to be used, or begin to be used, the Company will deliver prompt written notice of such change, cessation, or beginning to each of the Trustee and the Holders. 

ARTICLE III 

REPURCHASE AT THE OPTION OF THE HOLDER 

Section 3.01 Fundamental Change Permits Holders to Require the Company to Repurchase the Notes. 

(a) General. If a Fundamental Change occurs at any time prior to the Maturity Date, each Holder will have the right to require the
Company to repurchase all of its Notes or any portion of its Notes in principal amount equal to $1,000 or an integral multiple of $1,000 in 

  
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excess thereof on the Fundamental Change Repurchase Date for such Fundamental Change for an amount of cash equal to the Fundamental Change Repurchase Price for such Fundamental Change Repurchase
Date and such Notes. 
 (b) Fundamental Change Repurchase Price. The “Fundamental Change Repurchase Price” means, for any
Notes to be repurchased on any Fundamental Change Repurchase Date, a price equal to 100% of the principal amount of such Notes, plus accrued and unpaid interest, if any, on such Notes to, but excluding, such Fundamental Change Repurchase Date;
provided, however, that if a Fundamental Change Repurchase Date occurs after a Regular Record Date, but on or prior to the Interest Payment Date corresponding to such Regular Record Date, the Company will pay the accrued and unpaid
interest on such Notes, on such Interest Payment Date, to the Holder of such Notes as of the Close of Business on such Regular Record Date, and the Fundamental Change Repurchase Price shall not include such accrued and unpaid interest. 

(c) Fundamental Change Repurchase Date. The “Fundamental Change Repurchase Date” means, for any Fundamental Change, the date
specified by the Company in the Fundamental Change Notice for such Fundamental Change, which date will be not less than 20 Business Days, nor more than 35 Business Days, immediately following the Fundamental Change Notice Date for such Fundamental
Change, subject to extension to comply with applicable law. 
 Section 3.02 Fundamental Change Notice. 

(a) General. On or before the 10th calendar day immediately following the effective date of a Fundamental Change, the Company will
deliver to each Holder (and to any beneficial owners of a Global Note, as required by applicable law), the Trustee and the Paying Agent written notice of such Fundamental Change and the resulting repurchase right (the “Fundamental Change
Notice,” and the date of such mailing, the “Fundamental Change Notice Date”). Simultaneously with mailing any Fundamental Change Notice to the Holders, the Trustee and the Paying Agent, the Company will publish a notice containing the
same information as the Fundamental Change Notice in a newspaper of general circulation in The City of New York and on its website or through such other public medium as the Company may use at such time. 

For any Fundamental Change, the Fundamental Change Notice corresponding to such Fundamental Change will specify: 

(i) briefly, the events causing such Fundamental Change; 

(ii) the effective date of such Fundamental Change; 

(iii) the last date on which a Holder may exercise its right to require the Company to repurchase its Notes as a result of such
Fundamental Change under this Article 3; 
 (iv) the procedures that a Holder must follow to require the Company to
repurchase a Note; 

  
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 (v) the Fundamental Change Repurchase Price for each $1,000 principal amount of
Notes for such Fundamental Change; 
 (vi) the Fundamental Change Repurchase Date for such Fundamental Change; 

(vii) that the Fundamental Change Repurchase Price for any Note for which a Fundamental Change Repurchase Notice has been duly
tendered and not validly withdrawn will be paid on the later of the Fundamental Change Repurchase Date and the time such Note is surrendered for repurchase; 

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

(ix) the Conversion Rate in effect on the Fundamental Change Notice Date for such Fundamental Change; 

(x) if applicable, any adjustments that will be made to the Conversion Rate as a result of such Fundamental Change; 

(xi) that any Notes with respect to which a Fundamental Change Repurchase Notice has been delivered by a Holder may be
converted only if such Holder withdraws such Fundamental Change Repurchase Notice in accordance with the terms of this Indenture or to the extent any portion of such Notes are not subject to such Fundamental Change Repurchase Notice; 

(xii) the procedures for withdrawing a Fundamental Change Repurchase Notice; 

(xiii) that if a Note or portion of a Note is subject to a validly delivered Fundamental Change Repurchase Notice, unless the
Company defaults in paying the Fundamental Change Repurchase Price for such Note or portion of a Note, interest, if any, on such Note or portion of a Note will cease to accrue on and after the Fundamental Change Repurchase Date; and 

(xiv) the CUSIP and ISIN number(s) of the Notes. 

(b) Failure or Defect. Notwithstanding anything provided elsewhere in this Indenture, neither the failure of the Company to deliver a
Fundamental Change Notice nor a defect in a Fundamental Change Notice delivered by the Company will limit the repurchase rights of any Holder under this Article 3 or impair or otherwise affect the validity of any proceedings relating to the
repurchase of any Note pursuant to this Article 3. 
 Section 3.03 Fundamental Change Repurchase Notice. 

(a) General. To exercise its repurchase rights under Section 3.01(a) hereof with respect to any Notes pursuant to a Fundamental
Change, the Holder thereof must deliver to 

  
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the Paying Agent, by the Close of Business on the Business Day immediately preceding the Fundamental Change Repurchase Date, subject to extension to comply with applicable law: 

(i) a duly completed “Fundamental Change Repurchase Notice,” substantially in the form set forth in Exhibit A
hereto (a “Fundamental Change Repurchase Notice”) setting forth that such Holder is tendering such Notes for repurchase; and 

(ii) such Notes (A) by book-entry transfer if such Notes are Global Notes, or (B) by physical delivery, if such Notes
are Definitive Notes, in each case, together with any endorsements or other documents reasonably requested by the Paying Agent, the Trustee or the Company. 

(b) Contents of Fundamental Change Repurchase Notice. The Fundamental Change Repurchase Notice for any Note must state: 

(i) if such Note is to be repurchased in part, the principal amount of such Note to be repurchased, which principal amount must
equal $1,000 or an integral multiple of $1,000 in excess thereof; 
 (ii) that such Note will be repurchased by the Company
pursuant to the provisions of this Article 3 hereof; and 
 (iii) if such Note is a Definitive Note, the certificate number
of such Note. 
 (c) If the Notes to be repurchased are Global Notes, the Fundamental Change Repurchase Notice for such Notes must comply
with the Applicable Procedures. 
 (d) Notice to Company. If any Holder validly delivers to the Paying Agent a Fundamental Change
Repurchase Notice with respect to a Note or any portion of a Note, the Paying Agent will promptly deliver to the Company a copy of such Fundamental Change Repurchase Notice. 

(e) Effect of Improper Notice. Unless and until the Paying Agent receives a validly endorsed and delivered Fundamental Change
Repurchase Notice with respect to a Note, together with such Note, in a form that conforms in all material aspects with the description contained in such Fundamental Change Repurchase Notice, the Holder submitting the Notes will not be entitled to
receive the Fundamental Change Repurchase Price for such Note. 
 Section 3.04 Withdrawal of Fundamental Change Repurchase
Notice. 
 (a) General. After a Holder delivers a Fundamental Change Repurchase Notice with respect to a Note, such Holder may
withdraw such Fundamental Change Repurchase Notice with respect to such Note or any portion of such Note in principal amount equal to $1,000 or an integral multiple of $1,000 in excess thereof by delivering to the Paying Agent a written notice of
withdrawal prior to the Close of Business on the Business Day immediately preceding the Fundamental Change Repurchase Date, subject to extension to comply with applicable law. 

  
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 Any such withdrawal notice must state: 

(i) the principal amount of the Notes with respect to which such notice of withdrawal pertains, which must equal $1,000 or an
integral multiple of $1,000 in excess thereof; 
 (ii) the principal amount of the Notes that remains subject to the original
Fundamental Change Repurchase Notice, which portion must have a principal amount equal to $1,000 or an integral multiple of $1,000 in excess thereof; and 

(iii) if the Notes subject to such Fundamental Change Repurchase Notice were Definitive Notes, the certificate numbers of the
Notes to be withdrawn and the Notes that will remain subject to the Fundamental Change Repurchase Notice. 
 If the Notes to be withdrawn
are Global Notes, a Holder must deliver its notice of withdrawal in compliance with the Applicable Procedures. 
 (b) Return of Note.
Upon receipt of a validly delivered withdrawal notice, the Paying Agent will promptly (i) if such notice pertains to a Definitive Note or a portion of a Definitive Note, return such Note or portion of a Note to such Holder, in the amount
specified in such withdrawal notice; and, (ii) if such notice pertains to a beneficial interest in a Global Note, in compliance with the Applicable Procedures, deem to be cancelled any instructions for book-entry transfer of such beneficial
interest, in the amount specified in such withdrawal notice. 
 (c) Notice to Company. If any Holder validly delivers to the Paying
Agent a notice of withdrawal with respect to a Note or any portion of a Note, the Paying Agent will promptly deliver to the Company a copy of such notice of withdrawal. 

Section 3.05 Effect of Fundamental Change Repurchase Notice. 

(a) General. If a Holder validly delivers to the Paying Agent a Fundamental Change Repurchase Notice (together with all necessary
endorsements) with respect to a Note, such Holder may no longer convert such Note unless and until such Holder validly withdraws such Fundamental Change Repurchase Notice in accordance with Section 3.04 hereof. 

(b) Timing of Payment. Upon the Paying Agent’s receipt of (i) a valid Fundamental Change Repurchase Notice (together with all
necessary endorsements) and (ii) the Notes to which such Fundamental Change Repurchase Notice pertains, the Holder of the Notes to which such Fundamental Change Repurchase Notice pertains will be entitled, except to the extent such Holder has
validly withdrawn such Fundamental Change Repurchase Notice in accordance with hereof, to receive the Fundamental Change Repurchase Price with respect to such Notes on the later of the following (subject to extension to comply with applicable law)
(i) the Fundamental Change Repurchase Date and (ii)(A) if such Notes are Definitive Notes, the date of delivery of such Notes to the Paying Agent, duly endorsed, or (B) if such Notes are Global Notes, the date of book-entry transfer of
such Notes to the Paying Agent, or, if such later date is not a Business Day, the Business Day immediately following such later date. 

  
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 (c) Effect of Deposit. If, as of 11:00 a.m., New York City time, on the Fundamental Change
Repurchase Date for any Fundamental Change, the Company, in accordance with Section 3.08 hereof, has deposited with the Paying Agent money sufficient to pay the Fundamental Change Repurchase Price for every Note subject to a Fundamental Change
Repurchase Notice validly delivered in accordance with Section 3.03 hereof and not validly withdrawn in accordance with Section 3.04 hereof, at the Close of Business on the Fundamental Change Repurchase Date: 

(i) the Notes to be repurchased will cease to be outstanding and interest will cease to accrue on such Notes (whether or not
book-entry transfer of such Notes is made or whether or not such Notes are delivered to the Paying Agent), except to the extent provided in the proviso to Section 3.01(b); and 

(ii) all other rights of the Holders of such Notes with respect to such Notes (other than the right to receive payment of the
Fundamental Change Repurchase Price upon delivery or transfer of such Notes and any Defaulted Amounts or Default Interest with respect to the Notes, and other than as provided in the proviso to Section 3.01(b)) will terminate. 

Section 3.06 Notes Repurchased in Part. If any Definitive Note is to be repurchased only in part, the Holder must surrender such
Note at the office of the Paying Agent (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder of such Note or such
Holder’s attorney-in-fact, duly authorized in writing), whereupon the Company, in accordance with Section 2.05 hereof, will promptly execute, and, upon receipt of a Company Order and the documents required by Sections 12.03 and 12.04
hereof, the Trustee, in accordance with Section 2.05 hereof, will promptly authenticate and deliver, to the surrendering Holder, a new Note or Notes of any authorized denomination or denominations requested by such Holder in aggregate principal
amount equal to the portion of the principal amount of the Note so surrendered which is not repurchased. If any Global Note is repurchased in part, the Company will instruct the Trustee to decrease the principal amount of such Global Note by the
principal amount repurchased. Any Notes that are repurchased or owned by the Company, whether or not in connection with a Fundamental Change, will be submitted to the Trustee for cancellation and will be duly retired by the Company. 

Section 3.07 Covenant to Comply With Securities Laws Upon Repurchase of Notes. In connection with any repurchase offer pursuant to
a Fundamental Change Repurchase Notice under this Article 3, the Company will, to the extent applicable, (i) comply with Rule 13e-4 and any other tender offer rules under the Exchange Act that may be applicable at the time of the offer to
repurchase the Notes, (ii) file the related Schedule TO (or any successor schedule, form or report) under the Exchange Act, and (iii) otherwise comply with any applicable United States federal and state securities laws so as to permit
Holders to exercise their rights and obligations under Section 3.01 hereof in the time and in the manner specified in Sections 3.01 and 3.03 hereof. 

  
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 Section 3.08 Deposit of Fundamental Change Repurchase Price. Prior to 11:00 a.m., New
York City time, on the Fundamental Change Repurchase Date, the Company will deposit with the Trustee or with the Paying Agent (or, if the Company or a Subsidiary or an Affiliate of either of them is acting as the Paying Agent, will segregate and
hold in trust as provided in Section 2.07 hereof) an amount of immediately available funds sufficient to pay the Fundamental Change Repurchase Price of all the Notes or portions thereof that the Company is required to repurchase on such
Fundamental Change Repurchase Date. 
 Section 3.09 Covenant Not to Repurchase Notes During a Continuing Acceleration With
Respect to the Notes. 
 (a) General. Notwithstanding anything to the contrary in this Article 3, the Company will not purchase
any Notes under this Article 3 if, as of the Fundamental Change Repurchase Date, the principal amount of the Notes has been accelerated, such acceleration has not been rescinded and such acceleration did not result from a Default that would be cured
by the Company’s payment of the Fundamental Change Repurchase Price. 
 (b) Deemed Withdrawals. If, on any Fundamental Change
Repurchase Date, (i) a Fundamental Change Repurchase Notice for a Note has been validly tendered in accordance with Section 3.03 hereof and has not been validly withdrawn in accordance with Section 3.04 hereof, and (ii) pursuant
to this Section 3.09, the Company is not permitted to purchase Notes, the Paying Agent, upon receipt of written notice from the Company stating that the Company, pursuant to this Section 3.09, is not permitted to purchase Notes, will deem
such Fundamental Change Repurchase Notice withdrawn. 
 (c) Return of Notes. If a Holder tenders a Note for purchase pursuant to this
Article 3 and, on the Fundamental Change Repurchase Date, pursuant to this Section 3.09, the Company is not permitted to purchase such Note, the Paying Agent will (i) if such Note is a Definitive Note, return such Note to such Holder, and
(ii) if such Note is held in book-entry form, in compliance with the Applicable Procedures, deem to be cancelled any instructions for book-entry transfer of such Note. 

ARTICLE IV 

COVENANTS 

Section 4.01 Payment of Notes. The Company will pay or cause to be paid the principal of, Fundamental Change Repurchase Price or
Redemption Price for, and any accrued and unpaid interest on, the Notes on the dates and in the manner required under this Indenture. Any principal of, Fundamental Change Repurchase Price or Redemption Price for, or interest on, a Note will be
considered paid on the date due if the Paying Agent, if other than the Company or a Subsidiary thereof, holds, as of 11:00 a.m. New York City time on the due date, money deposited by the Company in immediately available funds and designated for, and
sufficient to pay, such principal, Fundamental Change Repurchase Price, Redemption Price or interest then due. To the extent lawful, the Company will also pay Default Interest on any Defaulted Amounts in accordance with Section 2.04 hereof.

  
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 Section 4.02 [Reserved]. 

Section 4.03 Reports. The Company will deliver to Holders, with a copy to the Trustee, copies of all quarterly and annual reports
that the Company is required to deliver to the SEC on Forms 10-Q and 10-K, and any other documents, information or other reports that the Company is required to file with the SEC under Sections 13 or 15(d) of the Exchange Act no later than the time
that the Company is required to file such quarterly and annual reports, other documents, information or other reports with the SEC (after giving effect to any grace period provided by Rule 12b-25 under the Exchange Act). Any document filed by the
Company with the SEC via the EDGAR system (or any successor thereto) will be deemed to be delivered to Holders and the Trustee at the time such document is filed via the EDGAR system (or such successor); provided, however, that the
Trustee will have no responsibility whatsoever to determine whether the Company has made any filing via the EDGAR system (or any successor thereto). Notwithstanding anything to the contrary in the foregoing, nothing in this paragraph shall require
the Company to deliver to any Holder or the Trustee any material for which the Company has sought and received, or is seeking and has not been denied, confidential treatment by the SEC. 

Delivery of such quarterly and annual reports, and such other documents, information and other reports to the Trustee will be for
informational purposes only, and the Trustee’s receipt of such will not constitute actual or 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 conclusively on Officers’ Certificates). 

Section 4.04 Additional Interest. 

(a) General. If, at any time during the period beginning on, and including, the date that is six months after the Issue Date and ending
on, but not including, the one year anniversary of the Issue Date, the Company fails to timely file (after giving effect to any grace period provided by Rule 12b-25) any document or report that it is required to file with the SEC pursuant to
Sections 13 or 15(d) of the Exchange Act, as applicable (other than current reports on Form 8-K), the Company will pay additional interest (the “Additional Interest”) on the principal amount of then outstanding Notes. The Additional
Interest will accrue from the due date of each such missed filing until the earlier of (i) the one year anniversary of the Issue Date and (ii) the date such failure to file is corrected. 

Notwithstanding the foregoing, in no event will any Additional Interest that may accrue pursuant to the immediately preceding paragraph,
together with any Extension Fee, accrue, in the aggregate, at a rate in excess of 0.50% per annum, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest and/or Extension Fee. 

Additional Interest will be payable on the same dates and in the same manner as the stated interest on the Notes and will initially accrue at
the rate of 0.25% per annum on the principal amount of then outstanding Notes. If the Additional Interest accrues for more than 90 consecutive days, the rate at which the Additional Interest accrues will increase to 0.50% per annum on the
principal amount of then outstanding Notes beginning on the 91st consecutive day on which it accrues and ending on the last consecutive day on which it continues to accrue. 

  
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 (b) Notice to Trustee. If the Company is required to pay Additional Interest on any Note,
no later than five Business Days prior to the date on which such Additional Interest is scheduled to be paid, the Company will provide to the Trustee (and if the Trustee is not the Paying Agent, to the Paying Agent) an Officers’ Certificate,
which Officers’ Certificate will state (i) that the Company is obligated to pay Additional Interest pursuant to this Section 4.04, (ii) the amount of such Additional Interest that the Company is required to pay under this
Section 4.04, (iii) the amount of such Additional Interest that the Company will pay, (iv) the scheduled date on which such Additional Interest will be paid to Holders and (v) a direction that the Trustee (or, if the Trustee is
not the Paying Agent, the Paying Agent) pay such Additional Interest to the extent it receives funds from the Company to do so, on the scheduled payment date for such Additional Interest. The Trustee will not have any duty or responsibility to any
Holder to determine whether any Additional Interest is payable, or, if any Additional Interest is payable, the amount of such Additional Interest that is payable. 

Section 4.05 Compliance Certificate. 

(a) Annual Compliance Certificate. Within 90 days after the end of each fiscal year of the Company, beginning with the fiscal year
ending on December 31, 2016, the Company will deliver to the Trustee an Officers’ Certificate, which Officers’ Certificate will state (i) that the Officers signing such Officers’ Certificate have supervised a review of the
activities of the Company and its Subsidiaries with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture during the preceding fiscal year, and (ii) to the best knowledge of
each of the Officers signing such Officers’ Certificate, (A) whether the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any
of the terms, provisions and conditions of this Indenture (without regard to any period of grace or requirement of notice provided under this Indenture) or, if one or more Defaults or Events of Default have occurred, what events triggered such
Defaults or Events of Default and what actions the Company is taking or proposes to take with respect to such Defaults or Events of Default, and (B) whether any event has occurred and remains in existence by reason of which any payment of the
principal of, the Fundamental Change Repurchase Price or the Redemption Price for, or interest on, or any delivery of any of the consideration due upon conversion of, a Note is prohibited, and, if any such event has occurred and remains in
existence, a description, in reasonable detail, of such event or events and what actions the Company is taking or proposes to take with respect to such event or events. 

(b) Certificate of Default or Event of Default. Within 30 days after a Default occurs, the Company will deliver to the Trustee an
Officers’ Certificate describing such Default, its status and a description, in reasonable detail, of what action the Company is taking or proposes to take with respect to such Default. 

Section 4.06 Restriction on Purchases by the Company. Neither the Company nor any of its Subsidiaries will purchase or otherwise
acquire any Notes without canceling such Notes. 

  
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 Section 4.07 [Reserved]. 

Section 4.08 Corporate Existence. Subject to Article 5 hereof, the Company will do or cause to be done all things necessary to
preserve and keep in full force and effect: 
 (a) its corporate existence, and the corporate, partnership or other existence of each of its
Subsidiaries, in accordance with the respective organizational documents (as the same may be amended from time to time) of the Company or any such Subsidiary; provided, however, that the Company will not be required to preserve or keep
in full force and effect the corporate, partnership or other existence of any of its Subsidiaries, if the Board of Directors determines that the preservation thereof is no longer desirable in the conduct of the business of the Company and its
Subsidiaries, taken as a whole; and 
 (b) the rights (charter and statutory), licenses and franchises of the Company and its Subsidiaries;
provided, however, that the Company will not be required to preserve or keep in full force and effect any such right, license or franchise, or the corporate, partnership or other existence of any of its Subsidiaries, if the Board of
Directors determines that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries, taken as a whole. 

Section 4.09 [Reserved]. 

Section 4.10 Stay, Extension and Usury Laws. The Company covenants that, to the extent that it may lawfully do so, it will not at
any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this
Indenture; and the Company, to the extent that it may lawfully do so, hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power
herein granted to the Trustee, but will instead suffer and permit the execution of every such power as though no such law has been enacted. 

ARTICLE V 

CONSOLIDATION, MERGER AND SALE OF ASSETS 

Section 5.01 Company May Consolidate, Merge or Sell Its Assets Only on Certain Terms. The Company will not (1) consolidate
with or merge with or into any other Person, or (2) sell, convey, transfer or lease all or substantially all of its properties and assets to another Person (any such transaction, a “Reorganization Event”), unless: 

(a) either: 
 (i)
the Company is the surviving corporation; or 

  
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 (ii) the resulting, surviving or transferee Person (if other than the Company) of
such Reorganization Event (the “Reorganization Successor Corporation”): 
 (1) 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 
 (2)
expressly assumes, by executing and delivering a supplemental indenture to the Trustee that is reasonably satisfactory in form to the Trustee in accordance with Section 9.03 hereof, all of the obligations of the Company under the Notes and this
Indenture; 
 (b) immediately after giving effect to such Reorganization Event, no Default will have occurred and be continuing; and 

(c) prior to the effective date of such Reorganization Event, the Company delivers to the Trustee an Officers’ Certificate and an Opinion
of Counsel, each stating that: 
 (i) such Reorganization Event and such supplemental indenture comply with
Section 5.01(a) hereof; and 
 (ii) all conditions precedent to such Reorganization Event provided in this Indenture
have been satisfied. 
 Section 5.02 Successor Substituted. If any Reorganization Event occurs that complies with Sections
5.01(a)(ii) and 5.01(b) hereof, and the Company has complied with Section 5.01(c) hereof: 
 (a) from and after the date of such
Reorganization Event, the Reorganization Successor Corporation for such Reorganization Event will succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such
Reorganization Successor Corporation had been named as the Company herein; and 
 (b) except in the case of a Reorganization Event that is a
lease of all or substantially all of the Company’s assets, the Person named as the “Company” in the first paragraph of this Indenture or any successor (other than such Reorganization Successor Corporation) that will thereafter have
become such in the manner prescribed in this Article 5 will be released from its obligations under this Indenture and may be dissolved, wound up and liquidated at any time. 

ARTICLE VI 
 DEFAULTS
AND REMEDIES 
 Section 6.01 Events of Default. 

(a) General. Each of the following events will be an “Event of Default”: 

(i) the Company fails to pay the principal of the Notes (including any Fundamental Change Repurchase Price or Redemption Price)
when due at maturity, upon Redemption, repurchase upon a Fundamental Change, declaration of acceleration or otherwise; 

  
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 (ii) the Company fails to pay any interest when due and such failure continues
for a period of 30 days after the applicable due date; 
 (iii) the Company fails to give any Fundamental Change Notice,
Redemption Notice or notice of a Make-Whole Fundamental Change, in each case, when due; 
 (iv) the Company fails to comply
with its obligation to convert a Note in accordance with Article 10 hereof upon a Holder’s exercise of its conversion rights with respect to such Note, and such failure continues for a period of five (5) Business Days; 

(v) the Company fails to comply with its obligations under Article 5 hereof; 

(vi) the Company fails to perform or observe any of its covenants or warranties in this Indenture or in the Notes (other than a
covenant or agreement specifically addressed in clauses (i) through (iv) above) and such failure continues for a period of 60 days after (A) the Company receives notice of such failure from the Trustee or (B) the Company and the
Trustee receive notice of such failure from Holders of at least 25% of the aggregate principal amount of then outstanding Notes; 

(vii) the default by the Company or any Significant Subsidiary with respect to any mortgage, agreement or other instrument
under which there may be outstanding, or by which there may be secured or evidenced, any indebtedness for money borrowed by the Company and/or any Significant Subsidiaries in excess of $15,000,000 in the aggregate, whether such indebtedness exists
as of the Issue Date or is later created, if that default: 
 (1) results in such indebtedness becoming or being declared
due and payable (prior to its express maturity); or 
 (2) constitutes a failure to pay the principal of, or interest on,
such indebtedness when due and payable at its stated maturity, upon required repurchase, upon declaration or otherwise; 
 and, in each case,
such acceleration shall not have been rescinded or annulled or such failure to pay shall not have been cured, as the case may be, within 30 days after written notice to the Company by the Trustee or to the Company and the Trustee by the Holders of
at least 25% in principal amount of the Notes then outstanding has been received; 
 (viii) a final judgment for the payment
of $15,000,000 or more (excluding any amounts covered by insurance) is rendered against the Company or any of its Significant Subsidiaries, and such judgment is not discharged or stayed within 60 days after (x) the date on which all rights to
appeal such judgment have expired if no appeal has commenced, or (y) the date on which all rights to appeal have been extinguished; 

  
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 (ix) the Company or any Significant Subsidiary, pursuant to or within the meaning
of any Bankruptcy Law: 
 (1) commences a voluntary case; 

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

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

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

(5) takes any comparable action under any foreign laws relating to insolvency; or 

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

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

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

(2) appoints a Custodian of the Company or any Significant Subsidiary, or for any substantial part of the property of the
Company or any Significant Subsidiary; 
 (3) orders the winding up or liquidation of the Company or any Significant
Subsidiary; or 
 (4) grants any similar relief under any foreign laws; 

and, in each such case, the order or decree remains unstayed and in effect for 60 days. 

(b) Cause Irrelevant. Each of the events enumerated in Section 6.01(a) hereof will constitute an Event of Default whatever the
cause and regardless of whether voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body. 

Section 6.02 Acceleration. 

(a) Automatic Acceleration in Certain Circumstances. If an Event of Default specified in Sections 6.01(a)(ix) or 6.01(a)(x) hereof
occurs with respect to the Company, the principal amount of, and all accrued and unpaid interest, if any, on, all of the then outstanding Notes will immediately become due and payable without any further action or notice by any party. 

  
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 (b) Optional Acceleration. If any Event of Default (other than an Event of Default
specified in Sections 6.01(a)(ix) or 6.01(a)(x) hereof) occurs and is continuing, the Trustee, by delivering a written notice to the Company, or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding, by delivering a
written notice to the Company and the Trustee, may declare the principal amount of, and all accrued and unpaid interest, if any, on all then outstanding Notes immediately due and payable, and upon such declaration, the principal amount of, and all
accrued and unpaid interest, if any, on all then outstanding Notes will immediately become due and payable. 
 (c) Rescission of
Acceleration. Notwithstanding anything to the contrary in this Indenture, the Holders of a majority of the aggregate principal amount of the then outstanding Notes may, on behalf of the Holders of all of the then outstanding Notes, rescind any
acceleration of the Notes and its consequences hereunder by delivering notice to the Trustee if (i) such rescission would not conflict with any judgment or decree of a court of competent jurisdiction and (ii) all existing Events of Default
(other than the nonpayment of the principal of, interest, if any, on, or the Fundamental Change Repurchase Price or the Redemption Price for, the Notes that has become due solely as a result of acceleration) have been cured or waived. No such
rescission will affect any subsequent Default or impair any right consequent thereto. 
 Section 6.03 Other Remedies. If an
Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal, accrued and unpaid interest, if any, or payment of the Fundamental Change Repurchase Price or Redemption Price for, the Notes
or to enforce the performance of any provision of the Notes or this Indenture regarding any other matter. 
 The Trustee may maintain a
proceeding even if it does not possess any of the Notes or does not produce any of the Notes in the proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default will not impair the
right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any other remedy. All available remedies are cumulative. 

Section 6.04 Sole Remedy for Failure to Report. 

(a) General. Notwithstanding anything to the contrary in the Notes or in this Indenture, the Company may elect that the sole remedy for
any Event of Default specified in Section 6.01(a)(vi) hereof relating to the Company’s failure to comply with Section 4.03 hereof (a “Reporting Event of Default”) will (i) for the first 90 days after the occurrence of
such a Reporting Event of Default (beginning on, and including, the date on which such a Reporting Event of Default first occurs), consist exclusively of the right to receive special interest on the notes at a rate equal to 0.25% per annum of
the principal amount of such Notes then outstanding for each day during such 90-day period on which such event of default is continuing and (ii) for the period from, and including, the 91st day after the occurrence of such Reporting Event of
Default to, and including, the 180th day after the occurrence of such Reporting Event of Default, consist exclusively of the right to receive special interest on the notes at a rate equal to 0.50% per

  
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annum of the principal amount of notes then outstanding for each day during such additional 90-day period on which such event of default is continuing (such special interest, at either 0.25% or
0.50% per annum, as applicable, the (“Extension Fee”). Any Extension Fee will be payable in the same manner and on the same dates as the stated interest payable on the Notes and will accrue in addition to any Additional Interest that
the Company is obligated to pay under Section 4.04 hereof. 
 (b) Limitation on Remedy. If (i) a Reporting Event of Default
occurs and the Company elects that the sole remedy with respect to such Reporting Event of Default will be the Extension Fee and (ii) on the 181st day immediately following, and including,
the date on which such Reporting Event of Default first occurred, such Reporting Event of Default has not been cured or validly waived in accordance with Section 6.05 hereof, then the Notes will become subject to acceleration under
Section 6.02(a) hereof on account of such Reporting Event of Default. 
 (c) Company Election Notice. To elect to pay the
Extension Fee as the sole remedy for a Reporting Event of Default, the Company must deliver notice of such election to the Holders, the Paying Agent and the Trustee prior to the date on which such Reporting Event of Default first occurs. Any such
notice must include a brief description of the report that the Company failed, or will fail, to file, a statement that the Company is electing to pay the Extension Fee and the date on which such Reporting Event of Default will occur. 

If a Reporting Event of Default occurs and the Company fails to timely deliver such notice for such Reporting Event of Default, the Notes will
be subject to acceleration under Section 6.02(a) hereof on account of such Reporting Event of Default. 
 (d) Other Events of
Default. Notwithstanding anything to the contrary herein, if the Company elects to pay the Extension Fee with respect to any Reporting Event of Default, the Company’s election will not affect the rights of any Holder with respect to any
other Event of Default, including with respect to any other Reporting Event of Default; provided, that, for the avoidance of doubt, in no event will the Company be obligated to pay the Extension Fee at a rate greater than 0.50% per annum
on the principal amount of then outstanding Notes. 
 (e) Notwithstanding the foregoing, in no event will any Extension Fee that may accrue
pursuant to this Section 6.04, together with any Additional Interest that may accrue pursuant to the first paragraph of Section 4.04(a), accrue, in the aggregate, at a rate in excess of 0.50% per annum, regardless of the number of
events or circumstances giving rise to the requirement to pay such Extension Fee and/or Additional Interest. 
 Section 6.05 Waiver
of Past Defaults. If an Event of Default described in Sections 6.01(a)(i), 6.01(a)(ii), 6.01(a)(iv) or 6.01(a)(vi) (which, in the case of Section 6.01(a)(vi) only, relates to a covenant that cannot be amended without the consent of each
affected Holder) or a Default that would lead to such an Event of Default occurs and is continuing, such Event of Default or Default may be waived only with the consent of each affected Holder. Every other Event of Default or Default may be waived
by the Holders of a majority of the aggregate principal amount of then outstanding Notes. Whenever any Event of Default is so waived, it will cease to exist, and whenever any Default is so waived, it will be deemed cured and any Event of Default
arising therefrom will be deemed not to occur. However, no such waiver will extend to any subsequent or other Default or Event of Default or impair any consequent right. 

  
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 Section 6.06 Control by Majority. At any time, the Holders of a majority of the
aggregate principal amount of then outstanding Notes may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or for exercising any trust or power conferred on the Trustee. However, the Trustee may
refuse to follow any direction that conflicts with law or this Indenture or, subject to Section 7.01 hereof, that the Trustee determines to be unduly prejudicial to the rights of a Holder or to the Trustee, or that would potentially involve the
Trustee in personal liability unless the Trustee is offered indemnity or security satisfactory to it against any loss, liability or expense to the Trustee that may result from the Trustee’s instituting such proceeding as the Trustee. Prior to
taking any action hereunder, the Trustee will be entitled to indemnification satisfactory to it against all losses, liabilities and expenses caused by taking or not taking such action. 

Section 6.07 Limitation on Suits. Except to enforce (i) its rights to receive the principal of, the Fundamental Change
Repurchase Price or the Redemption Price for, interest, if any, on, a Note, or (ii) the failure of the Company to comply with its obligations under Article 10 to convert any Note, no Holder may pursue a remedy with respect to this Indenture or
the Notes unless: 
 (a) such Holder has previously delivered to the Trustee written notice that an Event of Default has occurred and is
continuing; 
 (b) the Holders of at least 25% of the aggregate principal amount of then-outstanding Notes deliver to the Trustee a written
request that the Trustee pursue a remedy with respect to such Event of Default; 
 (c) such Holder or Holders have offered and, if
requested, provided, to the Trustee security or indemnity satisfactory to the Trustee against any loss, liability or other expense of compliance with such written request; 

(d) the Trustee has not complied with such written request within 60 days after receipt of such written request and offer of security or
indemnity; and 
 (e) during such 60-day period, the Holders of a majority of the aggregate principal amount of then outstanding Notes did
not deliver to the Trustee a direction inconsistent with such written request. 
 A Holder may not use this Indenture to prejudice the
rights of any other Holder or to obtain a preference or priority over any other Holder, it being understood that the Trustee does not have any affirmative duty to ascertain whether any usage of this Indenture by a Holder is unduly prejudicial to
such other Holders. 
 Section 6.08 Rights of Holders To Receive Payment. Notwithstanding any other provision of this Indenture,
the right of any Holder to receive payment of the principal of, the Fundamental Change Repurchase Price or the Redemption Price for, accrued and unpaid interest, 

  
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if any, on, and any consideration due under Article 10 upon conversion of, its Note, on or after the respective due date, or to bring suit for the enforcement of any such payment and/or delivery
on or after the respective due date, will not be impaired or affected without the consent of such Holder and will not be subject to the requirements of Section 6.07 hereof. 

Section 6.09 Collection Suit by Trustee. If an Event of Default specified in Section 6.01(a)(i), 6.01(a)(ii), 6.01(a)(iii) or
6.01(a)(iv) hereof occurs and is continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Company for the whole amount of principal of, the Fundamental Change Repurchase Price or the
Redemption Price for, interest, if any, on, and the Conversion Consideration, if any, due upon conversion of, the Notes, and, to the extent lawful, any Default Interest on any Defaulted Amounts, and such further amount as is sufficient to cover the
costs and expenses of collection provided for under Section 7.06 hereof. 
 Section 6.10 Trustee May File Proofs of Claim.
The Trustee is authorized to file such proofs of claim and other papers or documents as may be necessary or advisable to have the claims of the Trustee and the Holders allowed in any judicial proceedings relative to the Company, its creditors or its
property and, unless prohibited by law or applicable regulations, will be entitled to collect, receive and distribute any money or other property payable or deliverable on any such claims, and any Custodian in any such judicial proceeding is hereby
authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee consents to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.06 hereof. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel, and any other amounts due the Trustee under Section 7.06 hereof out of the estate in any such proceeding, will be denied for any reason, payment of the same will be secured by a lien on, and will be paid out of, any and
all distributions, dividends, money, securities and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained will
be deemed to authorize the Trustee to authorize or consent to, or to accept or to adopt on behalf of any Holder, any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the
Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 Section 6.11 Priorities. If the Trustee
collects any money or property pursuant to this Article 6, it will pay out the money or property in the following order: 
 FIRST: to the
Trustee, its agents and attorneys for amounts due under Section 7.06 hereof, including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 

SECOND: to the Holders, for any amounts due and unpaid on the principal of, the Fundamental Change Repurchase Price or the Redemption Price
for, accrued and unpaid interest on, and any Conversion Consideration due upon the conversion of, any Note, without preference or priority of any kind, according to such amounts due and payable on all of the Notes; and 

  
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 THIRD: the balance, if any, to the Company or to such other party as a court of competent
jurisdiction directs. 
 The Trustee may fix a record date and payment date for any payment to the Holders pursuant to this
Section 6.11. If the Trustee so fixes a record date and a payment date, at least 15 days prior to such record date, the Company will deliver to each Holder and the Trustee, or, if the Company fails to do so the Trustee will deliver to each
Holder, a written notice, which notice will state such record date, such payment date and the amount of such payment. 
 Section 6.12
Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any
party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard
to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.12 does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.08 hereof or a suit by Holders of more than 10% in
aggregate principal amount of the then outstanding Notes. 
 ARTICLE VII 

TRUSTEE 

Section 7.01 Duties of Trustee. 

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

(b) Except during the continuance of an Event of Default, the Trustee undertakes to perform such duties, and only such duties, as are
specifically set forth in this Indenture, and no implied covenants or obligations will be read into this Indenture against the Trustee and, in the absence of bad faith on its part, the Trustee may conclusively rely upon certificates or opinions
furnished to the Trustee and conforming to the requirements of this Indenture. 
 (c) The Trustee may not be relieved from liabilities for
its own gross negligence or its own willful misconduct, except that: 
 (i) this paragraph does not limit the effect of
Section 7.01(b) hereof; 
 (ii) the Trustee will not be liable for any error of judgment made in good faith unless it is
proved that the Trustee was negligent in ascertaining the pertinent facts; and 

  
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 (iii) the Trustee will not be liable with respect to any action it takes or omits
to take in good faith by a Trust Officer in accordance with a direction received by it pursuant to Sections 6.06, 12.03 or 12.04 hereof. 

(d) Whether herein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to Sections
7.01(a), (b) and (c) hereof. 
 (e) The Trustee will not be liable for interest on any money received by it. 

(f) Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

(g) No provision of this Indenture will require the Trustee to expend or risk its own funds or otherwise incur financial liability in the
performance of any of its duties hereunder or in the exercise of any of its rights or powers. 
 (h) Every provision of this Indenture
relating to the conduct or affecting the liability of or affording protection to the Trustee will be subject to the provisions of this Article 7, and the provisions of this Article 7 will apply to the Trustee, Registrar, Paying Agent and Conversion
Agent. 
 (i) The Trustee will not be deemed to have notice of a Default or an Event of Default unless a Trust Officer of the Trustee has
received written notice at its Corporate Trust Office thereof from the Company or any Holder. 
 Section 7.02 Rights of Trustee.

 (a) The Trustee may conclusively rely upon any document believed by it to be genuine and to have been signed or presented by the proper
person. The Trustee need not investigate any fact or matter stated in the document. The Trustee may, however, in its discretion make such further inquiry or investigation into such facts or matters as it may see fit and, if the Trustee determines to
make such further inquiry or investigation, it will be entitled to examine the books, records and premises of the Company, personally or by agent or attorney and at the expense of the Company, and will incur no liability of any kind by reason of
such inquiry or investigation. 
 (b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an
Opinion of Counsel or both. The Trustee will not be liable for any action it takes or omits to take in good faith in reliance on the Officers’ Certificate or Opinion of Counsel. 

(c) The Trustee may act through agents, attorneys or custodians and will not be responsible for the misconduct or negligence of any agent,
attorney or custodian appointed with due care. 
 (d) So long as the Trustee’s conduct does not constitute willful misconduct or gross
negligence, the Trustee will not be liable for any action it takes or omits to take in good faith that it believes to be authorized or within the rights or powers conferred upon it by this Indenture. 

  
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 (e) The Trustee may consult with counsel of its own selection, and the advice or Opinion of
Counsel with respect to legal matters relating to this Indenture and the Notes will be full and complete authorization and protection from liability in respect to any action taken, omitted or suffered by it hereunder in good faith and in accordance
with the advice or opinion of such counsel. 
 (f) The permissive rights of the Trustee to do things enumerated in this Indenture will not
be construed as a duty unless so specified herein. 
 (g) The Trustee will be under no obligation to exercise any of the rights, trusts or
powers vested in it by this Indenture, and may refuse to perform any duty or exercise any such rights or powers, including but not limited to acting at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders
have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities that might be incurred by it in compliance with such request or direction. 

(h) The rights, privileges, protections, immunities and benefits given to the Trustee, including its right to be indemnified, are extended to,
and will be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder, including the Registrar, Paying Agent and Conversion Agent. 

(i) The Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals and/or titles of
officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any Person authorized to sign an Officers’ Certificate, including any Person specified as so authorized in
any such certificate previously delivered and not superseded. 
 (j) In no event will the Trustee be responsible or liable for special,
indirect, punitive or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of
action. 
 (k) The Trustee shall not be charged with knowledge of any default or Event of Default with respect to the Notes for which it is
acting as Trustee unless a Trust Officer has received written notice of such default or Event of Default from the Company or any other obligor on such Notes or from any Holder of such Notes. 

(l) The Trustee will accept all notices, reports and other information that are required to be provided or delivered to it pursuant to the
Indenture, and, where required hereunder, will determine whether such notices, reports or other information are satisfactory to it in form; provided, however that delivery of such reports, information and documents to the Trustee is
for informational purposes only and, except for any explicit notice of an Event of Default from the Company or a Holder, the Trustee’s receipt of such shall not constitute actual or constructive knowledge or notice of any information contained
therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder. 

  
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 (m) The Trustee may request that the Company deliver an Incumbency Certificate setting forth the
names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Incumbency Certificate may be signed by any Person authorized to sign an Officers’ Certificate or any other
Person specified as so authorized in any Incumbency Certificate previously delivered and not superseded. 
 (n) The Trustee shall be under
no liability for interest on any money received by it hereunder except as otherwise agreed in writing with the Company. 
 Section 7.03
Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee.
However, if the Trustee acquires any conflicting interest it must eliminate the conflict within 90 days or resign. Any Paying Agent, Registrar, Conversion Agent or co-registrar may do the same with like rights. However, the Trustee must comply with
Section 7.09 hereof. 
 Section 7.04 Trustee’s Disclaimer. The recitals contained herein and in the Notes, except the
certificates of authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee will not be responsible for and makes no representation as to the validity, priority or
adequacy of this Indenture or the Notes, it will not be accountable for the Company’s use of the proceeds from the Notes, and it will not be responsible for any statement of the Company in this Indenture or in any document issued in connection
with the sale of the Notes or in the Notes other than the Trustee’s certificate of authentication. The Trustee shall not be responsible or liable for any failure of the Company or any other party to comply with any securities laws, including,
without limitation, the U.S. Securities Act of 1933, as amended and the U.S. Investment Company Act of 1940, as amended. 

Section 7.05 Notice of Defaults. If a Default occurs and is continuing and a responsible officer of the Trustee is notified in
writing of such default, the Trustee will send to each Holder notice of the Default within 90 days after such Default first occurs, or, if it is not known to the Trustee at such time, as soon as practicable after a responsible officer of the Trustee
receives such notice; provided, however, that except in the case of a Default that is, or would lead to, an Event of Default described in Section 6.01(a)(i), 6.01(a)(ii) or 6.01(a)(iv) hereof, the Trustee may withhold the notice
if and so long as a committee of its Trust Officers in good faith determines that withholding the notice is in the interests of Holders. 

Section 7.06 Compensation and Indemnity. 

(a) The Company will pay to the Trustee reasonable compensation for its services. The Trustee’s compensation will not be limited by any
law on compensation of a trustee of an express trust. The Company will reimburse the Trustee upon request for all reasonable out-of-pocket fees and expenses incurred or made by it, including costs of collection, in addition to the compensation for
its services. Such expenses will include the reasonable compensation, fees and expenses, disbursements and advances of the Trustee’s agents, counsel, 

  
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accountants and experts. The Company will fully indemnify the Trustee against any and all loss, liability, claim, damage or expense (including reasonable attorneys’ fees and expenses)
incurred by it in connection with the acceptance and administration of this trust or the performance of its duties hereunder, including the costs and expenses of defending itself against any claim (whether asserted by the Company, any Holder or any
other Person). The Trustee will notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company of any claim for which it may seek indemnity of which a Trust Officer has actually received
written notice will not relieve the Company of its obligations hereunder except to the extent such failure is adjudicated by a court of competent jurisdiction to have materially prejudiced the Company. The Company will defend the claim and the
Trustee will cooperate in the defense. If the Trustee is advised by counsel that it may have available to it defenses that are in conflict with the defenses available to the Company, then the Trustee may have separate counsel, and the Company will
pay the reasonable fees and expenses of such counsel. The Company will pay the reasonable fees and expenses of counsel to the Trustee incurred in evaluating whether such defense and/or conflict exists. The Company need not reimburse any expense or
indemnify against any loss, liability or expense incurred by the Trustee through the Trustee’s own willful misconduct or gross negligence. The Company need not pay for any settlement made by the Trustee without the Company’s consent, such
consent not to be unreasonably withheld. All indemnifications and releases from liability granted hereunder to the Trustee will extend to its officers, directors, employees, agents, attorneys, custodians, successors and assigns. 

(b) If the indemnification provided for in the preceding paragraph is invalid or unenforceable in accordance with its terms, then the Company
shall contribute to the amount paid or payable by the Trustee as a result of such liability in such proportion as is appropriate to reflect the relative benefits received by the Company on one hand and the Trustee on the other from the transactions
relating to the Indenture. 
 (c) The term “liability”, as used herein, shall mean any losses, claims, damages, expenses
(including without limitation the Trustee’s reasonable and documented costs and expenses in defending itself against any losses, claims or investigations of any nature whatsoever or in bringing an action) or other liabilities, joint or several,
arising out of or in connection with any claim, litigation, investigation or proceeding relating to the Indenture and any transactions contemplated thereby (including, without limitation, any claim, litigation, investigation or proceeding asserting
violation of applicable laws). 
 (d) To secure the Company’s payment obligations under this Section 7.06, the Trustee will have a
lien prior to the Notes on all money or property held or collected by the Trustee, other than money or property held in trust to pay the principal, accrued and unpaid interest, if any, or payment of the Fundamental Change Repurchase Price or
Redemption Price on particular Notes. 
 (e) The Company’s payment obligations pursuant to this Section 7.06 will survive the
resignation or removal of the Trustee and the discharge of this Indenture. If the Trustee incurs expenses after the occurrence of a Default specified in Sections 6.01(a)(ix) or 6.01(a)(x) hereof with respect to the Company, the expenses are intended
to constitute expenses of administration under the Bankruptcy Law. 

  
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 Section 7.07 Replacement of Trustee. 

(a) The Trustee may resign at any time by notifying the Company, in writing, at least 30 days prior to the proposed resignation. The Holders
of a majority in aggregate principal amount of then outstanding Notes may remove the Trustee by notifying the Trustee, in writing. The Company may remove the Trustee if: 

(i) the Trustee fails to comply with Section 7.09 hereof; 

(ii) the Trustee is adjudged bankrupt or insolvent; 

(iii) a receiver or other public officer takes charge of the Trustee or its property; or 

(iv) the Trustee otherwise becomes incapable of acting. 

(b) If the Trustee resigns, is removed by the Company or by the Holders of a majority in aggregate principal amount of the Notes then
outstanding, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company will promptly appoint a successor Trustee. 

(c) A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon, the
resignation or removal of the retiring Trustee will become effective, and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee will send a notice of its succession to Holders.
The retiring Trustee will, upon payment of all of its costs and the costs of its agents and counsel, promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.06 hereof. 

(d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the
Company or the Holders of at least 10% of the aggregate principal amount of the Notes then outstanding may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee. 

(e) If the Trustee, after written request by any Holder, fails to comply with Section 7.09 hereof, such Holder may petition any court of
competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 (f) Notwithstanding the replacement of
the Trustee pursuant to this Section 7.07, the Company’s obligations under Section 7.06 hereof will continue for the benefit of the retiring Trustee. 

Section 7.08 Successor Trustee by Merger. 

  
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 (a) If the Trustee consolidates with, merges or converts into, or transfers all or substantially
all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation or banking association without any further act will be the successor Trustee. 

(b) In case at the time such successor or successors by merger, conversion or consolidation to the Trustee succeeds to the trusts created by
this Indenture, any of the Notes have been authenticated, but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor Trustee, and deliver such Notes so authenticated; and, in case at that time
any of the Notes have not been authenticated, any such successor to the Trustee may authenticate such Notes, either in the name of any predecessor Trustee hereunder or in the name of the successor to the Trustee. 

Section 7.09 Eligibility; Disqualification. The Trustee will have (or, in the case of a corporation included in a bank holding
company system, the related bank holding company will have) a combined capital and surplus of at least $100,000,000 as set forth in its (or its related bank holding company’s) most recent published annual report of condition. 

Section 7.10 Trustee’s Application for Instructions from the Company. Any application by the Trustee for written instructions
from the Company 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 will be taken or such omission will be effective.
The Trustee will not be liable to the Company 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 will not be less than three
Business Days after the date any Officer actually receives such application, unless any such Officer has 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 has received written instructions in response to such application specifying the action to be taken or omitted. 
 Section 7.11
Withholding. In order to comply with applicable tax laws (inclusive of rules, regulations and interpretations promulgated by competent authorities) related to this Indenture in effect from time to time (“Applicable Tax Law”) that a
foreign financial institution, the Company, Trustee, Paying Agent or other party is (or has agreed to be) subject to, the Company agrees (i) upon the reasonable request of the Trustee or the Paying Agent to provide to the Trustee and the Paying
Agent information about the Notes (including any modification to the terms of such Notes) that the Company has in its possession, sufficient to permit the Trustee and Paying Agent to determine whether it has tax related obligations under Applicable
Law, (ii) that the Trustee and the Paying Agent shall be entitled to make any withholding or deduction from payments to the extent necessary to comply with Applicable Tax Law, and (iii) pursuant to Section 7.06(a) and subject to the
limitations set forth therein, to hold the Trustee and the Paying Agent harmless for any losses it may suffer to the extent it is complying with Applicable Tax Law. The terms of this section shall survive the termination of this Indenture. 

  
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 ARTICLE VIII  

SATISFACTION AND DISCHARGE 

Section 8.01 Discharge of Liability on Notes. When (a)(i) the Company delivers to the Registrar all outstanding Notes (other than
Notes replaced pursuant to Section 2.11 hereof) for cancellation or (ii) all outstanding Notes have become due and payable, and the Company irrevocably deposits with the Trustee or delivers to the Holders, as applicable, cash and/or shares
of Common Stock (or, if applicable, Reference Property) and cash (in lieu of fractional shares of Common Stock or, if applicable, Reference Property Units) (solely to satisfy amounts due and owing as a result of conversions of the Notes), sufficient
to pay all amounts due and owing on all outstanding Notes (other than Notes replaced pursuant to Section 2.11 hereof), (b) the Company pays all other sums payable by it under this Indenture with respect to the then outstanding Notes and
(c) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such discharge is authorized and permitted under this Indenture and that all of the applicable conditions precedent to the
discharge of this Indenture have been satisfied, then, subject to Section 7.06 hereof, this Indenture will cease to be of further effect with respect to the Notes and the Holders and the Trustee will acknowledge the satisfaction and discharge
of this Indenture with respect to the Notes. 
 Notwithstanding the satisfaction and discharge of this Indenture, (i) any obligation of
the Company to any Holder under Article 10 hereof with respect to the conversion of any Note or to the Trustee under Article 7 hereof with respect to compensation or indemnity, and (ii) any obligation of the Trustee with respect to money
deposited with the Trustee under this Article 8 and Section 12.02 hereof will survive. 
 Section 8.02 Repayment to the
Company. Subject to any applicable unclaimed property law, the Trustee and the Paying Agent, upon receiving a written request from the Company, will promptly turn over to the Company any cash, securities, including shares of Common Stock, or
other property held for payment on the Notes that remains unclaimed two years after the date on which such payment was due. After the Trustee and the Paying Agent return such cash and securities, including shares of the Common Stock, to the Company,
the Trustee and the Paying Agent will have no further liability to any Holder with respect to such cash, securities, including shares of Common Stock, or other property, and any Holder entitled to the payment of such cash, securities, including
shares of Common Stock, or other property under the Notes or this Indenture must look to the Company for payment as a general creditor of the Company. 

ARTICLE IX  

AMENDMENTS, SUPPLEMENTS AND WAIVERS 

Section 9.01 Without Consent of Holders. The Company and the Trustee may amend or supplement this Indenture or the Notes without
the consent of any Holder: 
 (a) to add guarantees with respect to the Company’s obligations under this Indenture or the Notes; 

  
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 (b) to secure the Notes; 

(c) to provide for the assumption of the Company’s obligations under this Indenture and under the Notes by a Reorganization Successor
Corporation as described in Article 5 hereof; 
 (d) to provide for the assumption of the Company’s obligations under this Indenture
and under the Notes by a Merger Successor Corporation as described in Section 10.08 or to modify the conversion rights of the Holders in accordance with Section 10.08 hereof upon the occurrence of a Merger Event; 

(e) to surrender any right or power conferred upon the Company under this Indenture; 

(f) to add to the Company’s covenants or Events of Default for the benefit of the Holders; 

(g) to cure any ambiguity or correct any inconsistency or defect in this Indenture or in the Notes; 

(h) to comply with any requirement of the SEC in connection with any qualification of this Indenture or a supplement hereto under the TIA;

 (i) to irrevocably elect a Settlement Method or a Specified Dollar Amount; 

(j) to evidence the acceptance of appointment by a successor Trustee with respect to this Indenture; 

(k) to comply with the rules of any applicable Depositary; or 

(l) to make any other change; provided that such change individually, or in the aggregate with all other such changes, does not have,
and will not have, an adverse effect on the interest of the Holders. 
 Section 9.02 With Consent of Holders. With the written
consent of the Holders of at least a majority of the aggregate principal amount of the Notes then outstanding (including consents obtained in connection with a repurchase of, or tender offer or exchange offer for, Notes), by Act of such Holders
delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, may amend or supplement this Indenture or the Notes or waive any past Default or compliance with any provision of this Indenture or the Notes;
provided, however, that, without the consent of each affected Holder, no amendment or supplement to this Indenture or the Notes, or waiver of any provision of this Indenture or the Notes, may: 

(a) reduce the principal amount of, or change the Maturity Date of, any Note; 

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

  
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 (c) reduce the Fundamental Change Repurchase Price or the Redemption Price of any Note or change
the time at which, or the circumstances under which, the Notes may, or will be, redeemed or repurchased; 
 (d) impair the right of any
Holder to institute suit for any payment on any Note, including with respect to any consideration due upon conversion of a Note; 
 (e) make
any Note payable in a currency other than that stated in the Note; 
 (f) make any change that impairs or adversely affects the conversion
rights of any Holder under Article 10 hereof or otherwise reduces the number of shares of Common Stock, amount of cash or any other property receivable by a Holder upon conversion; 

(g) change the ranking of the Notes; 

(h) reduce any voting requirements included in this Indenture; 

(i) make any change to any amendment, modification or waiver provision of this Indenture that requires the consent of each affected Holder; or

 (j) reduce the percentage of the aggregate principal amount of then outstanding Notes whose Holders must consent to an amendment of this
Indenture or a waiver of a past Default. 
 It will not be necessary for the consent of the Holders under this Section 9.02 to approve
the particular form of any proposed amendment, but it will be sufficient if such consent approves the substance of such proposed amendment. 

Section 9.03 Execution of Supplemental Indentures. Upon the request of the Company, the Trustee will sign any supplemental
indenture authorized pursuant to this Article 9 if the amendment contained therein does not affect the rights, duties, liabilities or immunities of the Trustee under this Indenture. If the supplemental indenture adversely affects the Trustee’s
rights, duties, liabilities or immunities under this Indenture, then the Trustee may, but need not, sign such supplemental indenture. In executing any such supplemental indenture, the Trustee will be provided with, and, subject to the provisions of
Section 7.01 hereof, will be fully protected in conclusively relying upon, an Officers’ Certificate and an Opinion of Counsel stating that such supplemental indenture is authorized and permitted under this Indenture and that all of the
applicable conditions precedent in this Indenture to the Trustee’s execution of such supplemental indenture have been satisfied. 

Section 9.04 Notices of Supplemental Indentures. After an amendment or supplement to this Indenture or the Notes pursuant to
Sections 9.01 or 9.02 hereof becomes effective, the Company will promptly deliver notice to the Trustee, which notice will briefly describe the substance of such amendment or supplement to this Indenture in reasonable detail and state the effective
date of such amendment or supplement. The Company, or the Trustee, at the direction of the Company, will then promptly deliver a copy of such notice to each Holder. The failure to deliver such notice to each Holder and the Trustee, or any defect in
such notice, will not impair or affect the validity of such amendment or supplement to this Indenture. 

  
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 Section 9.05 Effect of Supplemental Indentures. Upon the execution of any
supplemental indenture under this Article 9: 
 (a) this Indenture will be modified in accordance therewith; 

(b) such supplemental indenture will form a part of this Indenture for all purposes; and 

(c) every Holder of Notes theretofore, or thereafter, authenticated and delivered hereunder will be bound thereby. 

Section 9.06 Revocation and Effect of Consents, Waivers and Actions. 

(a) Revocation. Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder is a continuing consent by the
Holder, and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note. However, any such Holder, or subsequent Holder, may revoke
the consent as to its Note or portion of a Note if the Trustee receives the notice of revocation before the date the amendment, supplement or waiver becomes effective. 

(b) Binding Effect. After an amendment, supplement or waiver becomes effective, it will bind every applicable Holder. Any amendment or
supplement will become effective in accordance with the terms of the supplemental indenture relating thereto, which will become effective upon the execution thereof by the Trustee. 

Section 9.07 Notation on, or Exchange of, Notes. If any amendment, supplement or waiver changes the terms of a Note, the Trustee
may require the Holder of such Note to deliver such Note to the Trustee. The Trustee may place an appropriate notation on such Note about the changed terms and return it to the Holder. Alternatively, if the Company or the Trustee so determines, the
Company, in exchange for the Note, will issue and the Trustee will authenticate a new Note that reflects the changed terms. 
 ARTICLE X
 
 CONVERSIONS 

Section 10.01 Right To Convert. 

(a) In General. Subject to, and upon compliance with, the provisions of this Article 10, a Holder may, at its option, convert all of
its Notes, or any portion of its Notes having a principal amount equal to $1,000 or an integral multiple of $1,000 in excess thereof, (i) subject to satisfaction of the conditions and during the periods set forth in Section 10.01(b), at
any time prior to the Close of Business on the Business Day immediately preceding October 1, 2019 and 

  
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(ii) irrespective of the conditions set forth in Section 10.01(b), on or after October 1, 2019, and prior to the Close of Business on the Business Day immediately preceding the
Maturity Date, in each case, into Conversion Consideration, as provided in this Article 10, based on the Conversion Rate. Notes may not be converted after the Close of Business on the Business Day immediately preceding the Maturity Date. 

(b) Conditions to Conversions Prior to the Close of Business on the Business Day Immediately Preceding October 1, 2019. Prior to
the Close of Business on the Business Day immediately preceding October 1, 2019, no Notes may be converted except under the circumstances and during the periods set forth below in this Section 10.01(b). 

(i) Conversion Upon Satisfaction of Sale Price Condition. Prior to the Close of Business on the Business Day immediately
preceding October 1, 2019, a Holder may present its Notes for conversion during any calendar quarter commencing after the calendar quarter ending on September 30, 2015 (and only during such calendar quarter), if the Last Reported Sale
Price per share of the Common Stock for each of at least twenty (20) Trading Days (whether or not consecutive) during the thirty (30) consecutive Trading days ending on, and including, the last Trading Day of the immediately preceding
calendar quarter is greater than one hundred and thirty percent (130%) of the Conversion Price on such Trading Day. 

(ii) Conversion Upon Satisfaction of Trading Price Condition. Prior to the Close of Business on the Business Day
immediately preceding October 1, 2019, a Holder may convert its Notes during the five (5) consecutive Business Day period immediately after any five (5) consecutive Trading Day period, (the “Measurement Period”), in which
the Trading Price per $1,000 principal amount of the Notes, as determined following a request by a Holder in accordance with the procedures set forth below, for each Trading Day of the Measurement Period was less than ninety eight percent
(98%) of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on such Trading Day. The condition set forth in the preceding sentence is herein referred to as the “Trading Price Condition.” 

The Trading Price shall be determined by the Bid Solicitation Agent pursuant to this Section 10.01(b)(ii) and the definition of Trading
Price set forth herein. The Bid Solicitation Agent (if other than the Company) shall have no obligation to determine the Trading Price per $1,000 principal amount of the Notes unless the Company has requested such determination in writing, and the
Company will have no obligation to make such request (or seek bids itself) unless a Holder of at least $1.0 million aggregate principal amount of Notes provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount
of the Notes would be less than ninety eight percent (98%) of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate. At such time, the Company shall, or shall instruct the Bid Solicitation Agent to, determine
the Trading Price per $1,000 principal amount of the Notes beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of the Notes is greater than or equal to ninety eight percent
(98%) of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate. If the Trading Price condition has been met, the Company will so notify the 

  
 56 

 
Holders, the Trustee and the Conversion Agent (if other than the Trustee) in writing. If, on any Trading Day after the Trading Price Condition has been met, the Trading Price per $1,000 principal
amount of Notes is greater than or equal to ninety eight percent (98%) of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate for such Trading Day, the Company will so notify the Holders, the Trustee and the
Conversion Agent (if other than the Trustee) in writing. 
 (iii) Conversion Upon Specified Corporate Events. 

(1) Certain Distributions. If, prior to the Close of Business on the Business Day immediately preceding October 1,
2019, the Company elects to: 
 (A) issue to all or substantially all holders of the Common Stock, any rights, options or
warrants entitling them, for a period of not more than sixty (60) calendar days after the record 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 ten (10) consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such issuance; or 

(B) distribute, to all or substantially all holders of the Common Stock, the Company’s assets, debt securities or rights
to purchase the Company’s securities, which distribution has a per share value, as reasonably determined by the Board of Directors, exceeding ten percent (10%) of the Last Reported Sale Price of the Common Stock on the Trading Day
immediately preceding the date of announcement for such distribution, 
 then, in either case, (x) the Company must notify Holders at least thirty
(30) Scheduled Trading Days prior to the Ex-Dividend Date for such issuance or distribution; and (y) once the Company has given such notice, Holders may convert their Notes at any time until the earlier of 5:00 p.m., New York City time, on
the Business Day immediately preceding such Ex-Dividend Date and the Company’s announcement, if any, that such issuance or distribution will not take place. 

(2) Certain Corporate Events. If, prior to the Close of Business on the Business Day immediately preceding
October 1, 2019, either (i) a transaction or event that constitutes a Fundamental Change occurs; (ii) a transaction or event that constitutes a Make-Whole Fundamental Change, pursuant to clause (i) of such definition occurs; or
(iii) the Company is a party to a consolidation, merger, binding share exchange, or a transfer or lease of all or substantially all of the Company’s assets, or any other transaction, in each case pursuant to which the Common Stock would be
converted into or exchanged for, or would constitute solely the right to receive, cash, securities or other property, then the Notes may be converted at any time from and after the effective date of the transaction or event until the earlier of
(x) thirty five (35) Trading Days after the actual effective date of such transaction or event (or, if later, the date on which the Company provides notice of such transaction or event) or, if such transaction or event also constitutes a
Fundamental Change, the related Fundamental Change Repurchase Date; and (y) the Close of Business on the Scheduled Trading Day immediately 

  
 57 

 
preceding the Maturity Date. No later than the Business Day after the date the Company publicly announces such transaction or event, the Company shall notify the Holders, the Trustee and the
Conversion Agent (if other than the Trustee) in writing of such transaction, its effective date and the related right to convert Notes. 

(iv) Conversion Based on Redemption. If the Company calls a Note for Redemption prior to the Close of Business on the
Business Day immediately preceding October 1, 2019, then the Holder of such Note may surrender the Note for conversion at any time before the Close of Business on the Business Day immediately preceding the Redemption Date. 

(c) Closed Periods. Notwithstanding anything to the contrary in this Indenture, (i) if the Company calls the Notes for redemption
in accordance with Article 11 hereof, a Holder may not convert its Notes after the Close of Business on the Business Day immediately preceding the applicable Redemption Date except to the extent the Company fails to pay the Redemption Price for such
Notes in accordance with Section 11.05 hereof, and (ii) if a Holder delivers a Repurchase Notice with respect to its Notes in accordance with Article 3 hereof, such Notes may not be converted except to the extent (A) such Notes are
not subject to such Repurchase Notice; (B) such Repurchase Notice is withdrawn in accordance with Article 3 hereof; or (C) the Company fails to pay the Fundamental Change Repurchase Price for such Notes in accordance with Section 3.08
hereof. 
 Section 10.02 Conversion Procedures. 

(a) General. To exercise its conversion right with respect to a beneficial interest in a Global Note, the owner of such beneficial
interest must (i) comply with the Applicable Procedures for converting such beneficial interest; (ii) pay any funds equal to interest payable on the next Interest Payment Date that such Holder is required to pay under clause (d) of
this Section 10.02; and (iii) pay any taxes or duties that such Holder is required to pay under the proviso to clause (e) of this Section 10.02. 

To exercise its conversion right with respect to a Definitive Note, the Holder of such Note must (i) complete and manually sign the
conversion notice on the back of the Note, or a facsimile of such conversion notice (such notice, or such facsimile, the “Conversion Notice”); (ii) deliver such signed and completed Conversion Notice, which shall be irrevocable, and
such Note to the Conversion Agent at its office; (iii) furnish any endorsements and transfer documents that the Company, Conversion Agent, Trustee or Transfer Agent may require; (iv) pay any funds equal to interest payable on the next
Interest Payment Date that such Holder is required to pay under clause (d) of this Section 10.02; and (v) pay any taxes or duties that such Holder is required to pay under the proviso to clause (e) of this Section 10.02.

 The first date on which a Holder satisfies the foregoing requirements with respect to a Note and on which conversion of such Note is not
otherwise prohibited under this Indenture will be the “Conversion Date” for such Note. 

  
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 The conversion of any Note will be deemed to occur at the Close of Business on the Conversion
Date for such Note, and any converted Note or portion thereof will cease to be outstanding upon conversion. 
 (b) Holder of Record.
If a Holder surrenders the entire principal amount of a Note for conversion, such Person will no longer be the Holder of such Note as of the Close of Business on the Conversion Date for such Note. 

The Person in whose name any shares of Common Stock shall be issuable upon conversion of any Note will become the holder of record of such
shares as of the Close of Business on the Conversion Date for such conversion, in the case of Physical Settlement, or the last Trading Day of the relevant Observation Period, in the case of Combination Settlement. 

(c) Conversions in Part. If a Holder surrenders only a portion of the principal amount of a Definitive Note for conversion, promptly
after the Conversion Date for such portion, the Company will, in accordance with Section 2.05 hereof, execute and deliver to the Trustee, and the Trustee will, upon receipt of a Company Order and the documents required by Sections 12.03 and
12.04 hereof, in accordance with Section 2.05 hereof, authenticate and deliver to such Holder a new Definitive Note in an authorized denomination, having a principal amount equal to the aggregate principal amount of the unconverted portion of
the Definitive Note surrendered for conversion and bearing registration numbers not contemporaneously outstanding and any restrictive legends that such Definitive Note must bear under Section 2.10 hereof. 

Upon the conversion of any beneficial interest in a Global Note, the Conversion Agent will promptly request that the Trustee make a notation
on the “Schedule of Increases and Decreases of Global Note” of such Global Note to reduce the principal amount represented by such Global Note by the principal amount of the converted beneficial interest. If all of the beneficial interests
in a Global Note are so converted, such Global Note will be deemed surrendered to the Trustee for cancellation, and the Trustee will cause such Global Note to be cancelled in accordance with the Applicable Procedures. 

(d) Reimbursement of Interest upon Conversion. If a Holder converts a Note after the Close of Business on a Regular Record Date, but
prior to the Open of Business on the Interest Payment Date corresponding to such Regular Record Date, then (x) the Holder of such Note at the Close of Business on such Regular Record Date shall be entitled, notwithstanding such conversion, to
receive, on such Interest Payment Date, the unpaid interest that has accrued on such Note to, but excluding, such Interest Payment Date; and (y) the Holder of such Note must, upon surrender of such Note for conversion, accompany such Note with
an amount of cash equal to the amount of interest that will be payable on such Note on such Interest Payment Date; provided, however, that a Holder need not make such payment (A) for conversions following the Regular Record Date
immediately preceding the Maturity Date; (B) if the Company has specified a Fundamental Change Repurchase Date that is after a Regular Record Date and on or prior to the Business Day immediately following the corresponding Interest Payment Date
and the Holder converts its Note after the Close of Business on such Regular Record Date and on or prior to the Open of Business on such Interest Payment Date; (C) if the Company has specified a Redemption Date that is after a Regular Record
Date and on or prior to the Business Day immediately following the Interest Payment Date corresponding to such Regular Record Date 

  
 59 

 
and such Holder surrenders such Note for conversion after such Regular Record Date and prior to the Open of Business on such Interest Payment Date; or (D) to the extent of any overdue
interest, if any overdue interest exists at the time of conversion with respect to such Note. 
 (e) Taxes and Duties. If a Holder
converts a Note, the Company will pay any documentary, stamp or similar issue or transfer tax due on the issue of any shares of the Common Stock upon the conversion; provided, however, that if any tax is due because the converting
Holder requested that shares of Common Stock be issued in a name other than its own, such Holder will pay such tax and the Conversion Agent, until having received a sum sufficient to pay such tax, may refuse to deliver any certificates representing
the shares of Common Stock being issued in a name other than that of such Holder. 
 (f) Notices. Whenever a Conversion Date occurs
with respect to a Note, the Conversion Agent will, as promptly as possible, and in no event later than the Business Day immediately following such Conversion Date, deliver to the Company and the Trustee notice that a Conversion Date has occurred,
which notice will state such Conversion Date, the principal amount of Notes converted on such Conversion Date and the names of the Holders that converted Notes on such Conversion Date. 

Section 10.03 Settlement Upon Conversion. 

(a) Conversion Obligation. 

(i) Settlement Method. Upon the conversion of any Note, the Company shall settle such conversion by paying or
delivering, as applicable and as provided in this Article 10, either (A) solely cash (a “Cash Settlement”); (B) shares of Common Stock, together, if applicable, with cash in lieu of fractional shares as provided in
Section 10.03(a)(ii)(1) (a “Physical Settlement”); or (C) a combination of cash and shares of Common Stock, together, if applicable, with cash in lieu of fractional shares as provided in Section 10.03(a)(ii)(3) (a
“Combination Settlement”). The Company shall have the right to elect the Settlement Method applicable to any conversion of a Note; provided, however, that: 

(1) (x) all conversions of Notes whose Conversion Date occurs on or after October 1, 2019 will be settled using the same
Settlement Method, and the Company shall send written notice of such Settlement Method to Holders, through the Trustee, no later than the Close of Business on the Business Day immediately preceding October 1, 2019 and (y) all conversions
for which the Conversion Date occurs during the Redemption Conversion Period will be settled using a single Settlement Method and the Company shall send written notice of such Settlement Method to Holders, through the Trustee concurrently with
delivery of the Redemption Notice; 
 (2) the Company shall use the same Settlement Method for all conversions of Notes
whose Conversion Dates occur on the same day (and, for the avoidance of doubt, the Company shall not be obligated to use the same Settlement Method with respect to conversions of Notes whose Conversion Dates occur on different days, except as
provided in clause (a)(i)(1) above); 

  
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 (3) if the Company elects a Settlement Method with respect to the conversion of
any Note whose Conversion Date occurs before October 1, 2019 and not during a Redemption Conversion Period, the Company shall send written notice of such Settlement Method to the Holder of such Note, through the Trustee, no later no later than
the Close of Business on the second Scheduled Trading Day immediately following such Conversion Date; 
 (4) if the Company
does not timely elect a Settlement Method with respect to the conversion of a Note, then the Company will be deemed to have elected Combination Settlement with a Specified Dollar Amount per $1,000 principal amount of such Note equal to $1,000; 

(5) if the Company timely elects Combination Settlement with respect to the conversion of a Note but does not timely notify
the Holder of such Note of the Specified Dollar Amount, then the Specified Dollar Amount for such conversion will be deemed to be $1,000 per $1,000 principal amount of such Note; and 

(6) the Settlement Method shall be subject to clause (II) of the first sentence of Section 10.08(a). 

(ii) Conversion Consideration. Subject to Section 10.03(a)(iv), the type and amount of consideration (the
“Conversion Consideration”) due in respect of each $1,000 principal amount of a Note to be converted shall be as follows: 

(1) if Physical Settlement applies to such conversion, (I) a whole number of shares of Common Stock equal to the
Conversion Rate in effect on the Conversion Date for such conversion (which, if not a whole number, shall be rounded down to the nearest whole number); and (II) if such Conversion Rate is not a whole number, cash in lieu of the related fractional
share in an amount equal to the product of (x) the Daily VWAP on such Conversion Date (or if such Conversion Date is not a Trading Day, the immediately preceding Trading Day) and (y) the fractional portion of such Conversion Rate; 

(2) if Cash Settlement applies to such conversion, cash in an amount equal to the sum of the Daily Conversion Values for each
of the twenty five (25) consecutive Trading Days in the Observation Period for such conversion; or 
 (3) if
Combination Settlement applies to such conversion, a settlement amount equal to (I) the sum of the Daily Settlement Amounts for each of the twenty five (25) consecutive Trading Days in the Observation Period for such conversion (which, for
the avoidance of doubt, shall consist of a number of whole shares of Common Stock equal to the sum of the Daily Share Amounts for each of the Trading Days in such Observation Period (which, if such sum is not a whole number, shall be rounded down to
the nearest whole number) and cash in an amount equal to the sum of the Daily Cash Amounts for each of the Trading Days in such Observation Period); and (II) if the sum of the Daily Share Amounts for each of the Trading Days in such Observation
Period is not a whole number, cash in lieu of the related fractional share in an amount equal to the product of (x) the Daily VWAP on the last Trading Day of such Observation Period and (y) the fractional portion of such sum. 

  
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 With respect to any conversion of Notes to which Cash Settlement or Combination Settlement
applies, the Company shall determine the Conversion Consideration due thereupon promptly following the last day of the applicable Observation Period and shall promptly thereafter notify the Trustee and the Conversion Agent (if other than the
Trustee) in writing of the same and the calculation thereof in reasonable detail. Neither the Trustee nor the Conversion Agent (if other than the Trustee) shall have any responsibility for any such determination. 

(iii) Delivery of Conversion Consideration. Except as set forth in Sections 10.05, 10.07 and 10.08 hereof, the Company
shall pay or deliver, as the case may be, the Conversion Consideration due upon the conversion of any Note to the Holder thereof as follows: (i) if Cash Settlement or Combination Settlement applies to such conversion, on the third
(3rd) Business Day immediately following the last Trading Day of the Observation Period for such conversion; and (ii) if Physical Settlement applies to such conversion, on the third (3rd) Business Day immediately following the
Conversion Date for such conversion. 
 (b) Conversion of Multiple Notes by a Single Holder. If a Holder converts more than one Note
on a single Conversion Date, the Conversion Consideration due in respect of such conversion will be computed based on the total principal amount of Notes converted on such Conversion Date by such Holder. 

(c) Settlement of Accrued Interest and Deemed Payment of Principal. If a Holder converts a Note, the Company will not adjust the
Conversion Rate to account for any accrued and unpaid interest on the Note, and the Company’s delivery of the Conversion Consideration due upon such conversion will be deemed to satisfy and discharge in full the Company’s obligation to pay
the principal of such Note and accrued and unpaid interest, if any, on, such Note to, but excluding the Conversion Date; provided, however, that if a Holder converts a Note after a Regular Record Date and prior to the Open of Business
on the corresponding Interest Payment Date, the Company will still be obligated to pay the interest due on such Interest Payment Date to the Holder of such Note as of the Close of Business on such Regular Record Date. As a result, except as
otherwise provided in the proviso to the immediately preceding sentence, any accrued and unpaid interest with respect to a converted Note will be deemed to be paid in full rather than cancelled, extinguished or forfeited. In addition, if both cash
and shares of the Common Stock are delivered upon the conversion of a Note, accrued and unpaid interest will be deemed to be paid first out of the amount of cash so delivered. 

Section 10.04 Common Stock Issued Upon Conversion. 

(a) On or prior to the Issue Date, the Company will reserve out of its authorized but unissued shares of Common Stock, for delivery upon
conversion of Notes under this Indenture, a number of shares of Common Stock equal to the maximum number of shares of Common Stock issuable upon conversion of all Notes assuming all such conversions were settled by delivering solely shares of Common
Stock (other than cash in lieu of any fractional shares of Common Stock). 

  
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 (b) Any shares of Common Stock delivered upon the conversion of the Notes will be newly issued
shares or treasury shares, duly and validly issued, fully paid, nonassessable, free from preemptive rights and free of any lien or adverse claim (except to the extent of any lien or adverse claim created by the action or inaction of the Holder or
other Person to whom such shares of Common Stock will be delivered). In addition, the Company will endeavor to comply promptly with all federal and state securities laws regulating the offer and delivery of any shares of Common Stock issuable upon
conversion of the Notes; provided that the Company will not be obligated to register the offer and sale of such Common Stock under the Securities Act or any other applicable securities laws. The Company will also use commercially reasonable
efforts to cause any shares of Common Stock issuable upon conversion of a Note to be listed on whatever stock exchange(s) the Common Stock is listed on the date the converting Holder becomes a record holder of such Common Stock. 

(c) If any shares of the Common Stock issued upon conversion will, upon delivery as part of the conversion obligation, be “restricted
securities” (within the meaning of Rule 144 or any successor provision in effect at such time), such shares of Common Stock will bear any restrictive legends the Company or the Transfer Agent deem necessary to comply with applicable law. 

Section 10.05 Adjustment of Conversion Rate. The Company will adjust the Conversion Rate from time to time as described in this
Section 10.05, except that the Company will not make an adjustment to the Conversion Rate if each Holder participates (other than in a share split or share combination), at the same time and upon the same terms as holders of the Common Stock,
and solely as a result of holding the Notes, in the relevant transaction described in this Section 10.05 without having to convert its Notes and as if it held number of shares of the Common Stock equal to the product of (i) the Conversion
Rate in effect on the applicable record date, Effective Date or expiration date, and (ii) the aggregate principal amount of Notes held by such Holder (express in thousands) on such date, rounded up to the nearest whole number. 

(a) Stock Dividends and Share Splits. If the Company exclusively issues to all or substantially all holders of the Common Stock shares
of Common Stock as a dividend or distribution on shares of the outstanding Common Stock, or if the Company effects a share split of the Common Stock or a share combination of the Common Stock, the Conversion Rate will be adjusted based on the
following formula: 
  

					
	 CR1 = CR0     x    
		OS1  		
		OS0		

 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 the Open of Business on such Effective Date;

  
 63 

					
	OS0		=		the number of shares of Common Stock outstanding immediately prior to the Open of Business on such Ex-Dividend Date or 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.

 If any dividend or distribution of the type described in this Section 10.05(a) is declared, but not so paid or made, the
Conversion Rate will be immediately readjusted, effective as of the date the 
 Board of Directors determines not to pay such dividend or distribution, to
the Conversion Rate that would then be in effect if such dividend or distribution had not been declared. 
 (b) Rights, Options and
Warrants. If the Company issues, to all or substantially all holders of its outstanding Common Stock, rights, options or warrants entitling such holders, for a period of not more than 60 calendar days after the record date of such issuance, to
subscribe for, or purchase, shares of 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, and including, the Trading Day immediately
preceding the date of announcement of such issuance, the Conversion Rate will be increased based on the following formula: 
  

					
	 CR1 = CR0    x    
		OS0 + X		
		OS0 + Y		

 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, options or warrants; and
			
	Y		=		the number of shares of Common Stock equal to the quotient of (i) the aggregate price payable to exercise such rights, options or warrants, over (ii) the average of the Last Reported Sale Prices of the Common Stock over
the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of the issuance of such rights, options or warrants.

 To the extent that shares of Common Stock are not delivered after the expiration of such rights, options or
warrants, including because the issued rights, options or warrants were not exercised, the Conversion Rate will be readjusted to the Conversion Rate that would then be in 

  
 64 

 
effect had the increase with respect to the issuance of such rights, options or warrants been made on the basis of delivery of only the number of shares of Common Stock actually delivered. If
such rights, options or warrants are not so issued, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect if the Ex-Dividend Date for such issuance had not occurred. 

For purposes of this Section 10.05(b), in determining whether any rights, options or warrants entitle holders of the Common Stock to
subscribe for, or purchase, shares of Common Stock at a price per share less than the average of the Last Reported Sale Prices of Common Stock for the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding
the date of announcement for an issuance, and in determining the aggregate price payable to exercise such rights, options or warrants, there will be taken into account any consideration received by the Company for such rights, options or warrants
and any amount payable on exercise thereof, the value of such consideration, if other than cash, to be determined by the Board of Directors. 

(c) Spin-Offs and Other Distributed Property. 

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

(1) dividends, distributions and issuances described in Section 10.05(a) hereof or Section 10.05(b) hereof, as
applicable; 
 (2) dividends or distributions paid exclusively in cash described in Section 10.05(d) hereof; and 

(3) Spin-Offs for which the provisions set forth in Section 10.05(c)(ii) hereof will apply, 

then the Conversion Rate will be increased based on the following formula: 
  

					
	  
 CR1 = CR0     x    
		        SP0          
  		
		SP0 – FMV		

 where 
  

					
	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, and including, 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, options or warrants distributed with respect to each outstanding share of Common
Stock on the Ex-Dividend Date for such distribution.

  
 65 

 Notwithstanding the foregoing, if “FMV” (as defined above) is equal to or greater than the “SP0” (as defined above), in lieu of the foregoing increase, each Holder will receive, for each $1,000 principal amount of Notes held on the record date for the distribution, at the same time and
upon the same terms as holders of the Common Stock, the amount and kind of shares of Capital Stock, evidences of indebtedness, assets or property, rights, options or warrants to acquire Capital Stock of the Company or other securities that such
Holder would have received if such Holder had owned a number of shares of Common Stock equal to the Conversion Rate in effect on the record date for such distribution. 

If such distribution is not so paid or made, or if any rights, options or warrants are not exercised before their expiration date, the
Conversion Rate will be readjusted to be the Conversion Rate that would then be in effect if such distribution had not been declared. 

(ii) With respect to an adjustment pursuant to this Section 10.05(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 an Affiliate, a Subsidiary or other business unit of the Company, and such Capital Stock or similar equity interest is
listed or quoted (or will be listed or quoted upon the consummation of the transaction) on a U.S. national securities exchange or a reasonably comparable non-U.S. equivalent (as determined by the Board of Directors) (a “Spin-Off”), the
Conversion Rate will be increased based on the following formula: 
  

					
	CR1 = CR0    x    		FMV0 + MP0		
		MP0		

 where 
  

					
	CR0		=		the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such Spin-Off;
			
	CR1		=		the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date;
			
	FMV0		=		the average of the Last Reported Sale Prices of the Capital Stock or similar equity interest distributed to holders of the Common Stock applicable to one share of Common Stock (determined 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 the Common Stock over the Valuation Period.

  
 66 

 The adjustment to the Conversion Rate under this Section 10.05(c)(ii) will be calculated as
of the Close of Business on the last Trading Day of the Valuation Period but will be given effect as of immediately after the Open of Business on the Ex-Dividend Date of the Spin-Off, with retroactive effect. The Company shall delay the settlement
of any conversion of Notes where the Conversion Date (in the case of Physical Settlement) or any Trading Day of the applicable Observation Period (in the case of Cash Settlement or Combination Settlement) occurs during the Valuation Period until the
third Business Day after the last day of the 
 Valuation Period. If any distribution of the type described in this Section 10.05(c)(ii) is declared but
not so made, the Conversion Rate shall be immediately readjusted, effective as of the date the Board of Directors determines not to make such distribution, to the Conversion Rate that would then be in effect if such distribution had not been
declared. 
 For the purposes of this Section 10.05(c) and subsections (a) and (b) of this Section 10.05, any dividend
or distribution to which this Section 10.05(c) applies and which dividend or distribution also includes one or both of: 

(1) a dividend or distribution of shares of Common Stock to which Section 10.05(a) hereof applies (a “Clause A
Distribution”); or 
 (2) a dividend or distribution of rights, options or warrants to which Section 10.05(b)
hereof applies (a “Clause B Distribution”) 
 (any such distribution, a “Multi-Clause Distribution”), then (i) the portion of such
Multi-Clause Distribution that is not a Clause A Distribution or a Clause B Distribution will be deemed to be a dividend or distribution to which this Section 10.05(c) applies (a “Clause C Distribution”), and any Conversion Rate
adjustment required by this Section 10.05(c) with respect to such Clause C Distribution will be made without considering any shares of Common Stock, if any, issuable as part of the portion of such Multi-Clause Distribution that is a Clause A
Distribution or a Clause B Distribution, as applicable, (ii) the portion of such Multi-Clause Distribution that is a Clause B Distribution, if any, will be deemed to be distributed immediately following the Clause C Distribution, and any
Conversion Rate adjustment required by Section 10.05(b) hereof with respect to such Clause B Distribution will be made, with any shares of Common Stock issuable as part of the portion of such Multi-Clause Distribution that is a Clause C
Distribution deemed to be “outstanding immediately prior to the Open of Business on such Ex-Dividend Date” for the purposes of making such adjustment and (iii) the portion of such Multi-Clause Distribution that is a Clause A
Distribution, if any, will be deemed to be distributed immediately following the Clause B Distribution or Clause C Distribution, as the case may be, and any Conversion Rate adjustment required by Section 10.05(a) hereof with respect to such
Clause A Distribution will be made, with any shares of Common Stock issuable as part of the portion of such Multi-Clause Distribution that is either a Clause C Distribution or a Clause B Distribution deemed to be “outstanding immediately prior
to the Open of Business on such Ex-Dividend Date or Effective Date” for the purposes of making such adjustment. 
 (d) Cash
Dividends or Distributions. If any cash dividend or distribution (other than a distribution described in Section 10.05(e), and other than a regular, quarterly cash dividend that does not exceed $0.05 per share (the “Dividend
Threshold,” which Dividend Threshold shall be subject to adjustment as set forth below in this Section 10.05(d))) is made to 

  
 67 

 
all or substantially all holders of the Common Stock, the Conversion Rate will be increased based on the following formula: 

 

					
	  
 CR1 = CR0    x    
		SP0 – T		
		SP0 – C		

 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;
			
	T		=		the Dividend Threshold; provided, however, that if the dividend or distribution is not a regular quarterly cash dividend, then the Dividend Threshold will be deemed to be zero (0); and
			
	C		=		the amount in cash per share the Company distributes to holders of Common Stock.

 The Dividend Threshold shall be adjusted in a manner inversely proportional to adjustments to the Conversion
Rate pursuant to this Section 10.05; provided, however, that no adjustment will be made to the Dividend Threshold for any adjustment to the Conversion Rate pursuant to this Section 10.05(d). 

Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase, each Holder will receive, for each $1,000 principal amount of Notes held on the record date for such cash dividend or distribution, at
the same time and upon the same terms as holders of the Common Stock, the amount of cash that such Holder would have received if such Holder had owned a number of shares of Common Stock equal to the Conversion Rate in effect on such record date. If
any such dividend or distribution is declared but not so paid or made, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared. 

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

 

					
	 CR1 = CR0    x    
		AC + (SP1 x OS1)		
		OS0 x SP1		

  
 68 

 where 
  

			
	 CR0 =
		the Conversion Rate in effect immediately prior to the Expiration Time;
		
	 CR1 =
		the Conversion Rate in effect immediately after the Expiration Time;
		
	 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 time (the “Expiration Time”) on the date such tender or exchange offer expires (prior to giving effect to the purchase of all shares accepted for
purchase or exchange in such tender or exchange offer);
		
	 OS1 =
		the number of shares of Common Stock outstanding immediately after the Expiration Time (after giving effect to the purchase 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 (the “Averaging Period”) commencing on the Trading Day next succeeding the date such tender or exchange offer
expires.

 The adjustment to the Conversion Rate pursuant to this Section 10.05(e) will be calculated as of the
Close of Business on the last Trading Day of the Averaging Period but will be given effect as of immediately after the Expiration Time, with retroactive effect. The Company shall delay the settlement of any conversion of Notes where the Conversion
Date (in the case of Physical Settlement) or any Trading Day of the applicable Observation Period (in the case of Cash Settlement or Combination Settlement) occurs during the Averaging Period until the third (3rd) Business Day after the last
day of the Averaging Period. 
 (f) Successive Adjustments. After an adjustment to the Conversion Rate under this Article 10 having
been made, any subsequent event requiring an adjustment under this Article 10 will cause an adjustment to the Conversion Rate as so adjusted, without duplication. 

(g) Adjustments Not Yet Effective. If a Holder converts a Note and, as of the Conversion Date for such Note, any distribution or
transaction that requires an adjustment to the Conversion Rate pursuant to Sections 10.05(a) through (e) hereof has occurred but has not yet resulted in an adjustment to the Conversion Rate and the shares of Common Stock, if any, that such
Holder will receive upon settlement of its converted Note are not entitled to participate in the relevant distribution or transaction (because they were not held on a related record date or otherwise), then the Company will adjust the number of
shares of Common Stock that it delivers to such Holder to reflect the relevant distribution or transaction. 
 (h) Conversion Rate
Adjustments where Converting Holders Participate in the Relevant Dividend, Distribution or other Transaction. Notwithstanding anything to the contrary herein or in the Notes, if a Conversion Rate adjustment becomes effective on any Ex-Dividend
Date pursuant to Section 10.05, and a Holder that has converted its Notes on or after such Ex-

  
 69 

 
Dividend Date and on or prior to the related record date would be treated, on such record date, as the record holder of the shares of Common Stock, if any, issuable upon such conversion based on
an adjusted Conversion Rate for such Ex-Dividend Date, then the Conversion Rate adjustment relating to such Ex-Dividend Date will not be made for such converting holder. Instead, such Holder will be treated as if such Holder were, as of such record
date, the record owner of such shares of Common Stock on an unadjusted basis and will participate in the related dividend, distribution or other event giving rise to such adjustment. 

(i) Shareholder Rights Plans. If the Company has rights plan in effect when a Holder converts a Note, the Company will deliver to such
Holder, in addition to any shares of Common Stock otherwise issuable to such Holder upon conversion of such Note, any rights that, under the rights plan, would be applicable to a share of Common Stock, unless prior to the Conversion Date for such
Note, the rights have separated from the Common Stock, in which case, and only in such case, the Conversion Rate will be adjusted pursuant to Section 10.05(c)(i) as if, at the time of such separation, the Company had distributed to all holders
of the Common Stock shares of its Capital Stock, evidences of its indebtedness, other assets or property of the Company or rights, options or warrants to acquire its Capital Stock, subject to readjustment in the event of the expiration, termination
or redemption of such rights. 
 (j) Other Adjustments. Whenever any provision of this Indenture requires the calculation of the Last
Reported Sale Price, a Daily VWAP or a function thereof over a period of multiple days (including any Observation Period), the Company will make appropriate adjustments to the Last Reported Sale Price or such function thereof 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, Effective Date or expiration date of the event occurs, at any time during such period. 

(k) Restrictions on Adjustments. Except as a result of a reverse share split or share combination subject to Section 10.05(a), in
no event will the Conversion Rate be adjusted downward pursuant to the formulae set forth in Sections 10.05(a), (b), (c), (d) or (e) hereof. 

In addition, notwithstanding anything to the contrary elsewhere in this Indenture, the Conversion Rate will not be adjusted: 

(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 the preceding clause and outstanding as of the date of the Issue Date; 

  
 70 

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

(v) for accrued and unpaid interest. 

(l) Deferral of Adjustments. The Company may defer any adjustment to the Conversion Rate unless such adjustment would increase or
decrease the Conversion Rate by at least 1% of the Conversion Rate in effect at the time the Company would otherwise be required to make such adjustment; provided, however, that if the Company defers an adjustment pursuant to this
Section 10.05(l), then the Company must carry forward such adjustment and take it into account in any future adjustment. Notwithstanding the foregoing, (i) on each Conversion Date (in the case of Physical Settlement) or on each Trading Day
of any Observation Period (in the case of Cash Settlement or Combination Settlement), (ii) on the occurrence of any Fundamental Change or Make-Whole Fundamental Change and (iii) on every one-year anniversary of the Issue Date, the Company
will give effect to all Conversion Rate adjustments that have otherwise been deferred pursuant to this Section 10.05(l), and such adjustments will no longer be carried forward and taken into account in any future adjustment. 

(m) Miscellaneous. 

(i) Certain Definitions. 

(1) For purposes of this Section 10.05, (1) the number of shares outstanding at any time will include shares
issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock, but, (2) 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,
will not include shares of Common Stock held in the treasury of the Company. 
 (2) For purposes of this Section 10.05,
the term “Effective Date” will mean the first date on which the Common Stock trades on the applicable exchange or in the applicable market, regular way, reflecting the relevant share split or share combination, as applicable. 

(3) For purposes of this Article 10, the term “Ex-Dividend Date” will mean the first date on which the shares of the
Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question. 

(ii) Notices. Upon the public announcement of any event that will require the Company to make an adjustment to the
Conversion Rate pursuant to this Section 10.05, the Company will deliver to each Holder a written notice, which notice will include (i) a brief description of such event, (ii) the date on which the Company anticipates that such event
will occur, (iii) the date on which the Company anticipates that the adjustment to the Conversion Rate will become effective, and (iv) if any record date, expiration date, Ex-Dividend Date or Effective Date is applicable to such event,
such record date, expiration date, Ex-Dividend Date or Effective Date. Neither the failure to give such notice, nor any defect therein, will affect the legality or validity of such action by the Company. 

  
 71 

 Whenever the Company adjusts the Conversion Rate pursuant to this Section 10.05, the Company
will promptly deliver to each Holder a written notice, which notice will include (i) a brief description of the event requiring adjustment to the Conversion Rate pursuant to this Section 10.05, (ii) the effective time of such
adjustment, (iii) the Conversion Rate in effect immediately after such adjustment is made and (iv) a schedule explaining, in reasonable detail, how the Company calculated such adjustment. On the same day the Company delivers such notice to
each Holder, the Company will deliver to the Trustee, the Paying Agent and the Conversion Agent an Officers’ Certificate that includes all of the information contained in such notice, which Officers’ Certificate each of the Trustee, the
Paying Agent and the Conversion Agent may treat as conclusive evidence that the adjustment specified in such Officers’ Certificate is correct and will be in effect as of the effective time specified in such Officers’ Certificate. The
failure to deliver such notice will not affect the legality or validity of any such adjustment. 
 Section 10.06 Voluntary
Adjustments. 
 (a) Best Interest Increases. The Company may, from time to time, to the extent permitted by law and the rules of
the New York Stock Exchange or any other securities exchange on which Common Stock is then listed, increase the Conversion Rate by any amount if (i) the Board of Directors determines that such increase is in the best interest of the Company,
(ii) such increase is in effect for a period of at least 20 Business Days, and (iii) during such period, such increase is irrevocable. 

(b) Tax-Related Increases. The Company may (but is not required to) increase the Conversion Rate if the Board of Directors determines
that such increase is advisable to avoid, or diminish, any income tax imposed on holders of the Common Stock or rights to purchase the Common Stock as a result of any dividend or distribution of shares (or rights to acquire shares) or similar event
treated as such for U.S. federal income tax purposes. 
 (c) Notices. Whenever the Board of Directors determines that the Company
will increase the Conversion Rate pursuant to this Section 10.06, the Company will mail to each Holder notice of such increase at least 15 Business Days before such increase will take effect, which notice will state the increase to be made and
the period during which such increase will be in effect. On the same day the Company mails such notice to each Holder, the Company will deliver to the Trustee, the Paying Agent and the Conversion Agent an Officers’ Certificate that includes all
of the information contained in such notice, which Officers’ Certificate each of the Trustee, the Paying Agent and the Conversion Agent may treat as conclusive evidence that the adjustment specified in such Officers’ Certificate is correct
and will be in effect as of the effective time specified in such Officers’ Certificate. The failure to deliver such notice will not affect the legality or validity of any such adjustment. 

Section 10.07 Conversions in Connection with Certain Make-Whole Fundamental Changes. Notwithstanding anything to the contrary in
Section 10.03 hereof, if a Holder converts a Note in connection with a Make-Whole Fundamental Change described in clause (b)(ii) of the 

  
 72 

 
definition of Fundamental Change in which the holders of the Common Stock receive only cash in consideration for their shares of Common Stock, for any conversion of Notes on or following the
Make-Whole Fundamental Change Effective Date for such Make-Whole Fundamental Change, the Company will settle such conversion by delivering to such Holder, on the third Business Day immediately following the Conversion Date for such Note, an amount
of cash, for each $1,000 principal amount of such Note converted, equal to the product of (i) the Conversion Rate on the Conversion Date applicable to such Note and (ii) the Stock Price for such Make-Whole Fundamental Change. For purposes
of this Section 10.07, a conversion of Notes will be deemed to be “in connection with” a Make-Whole Fundamental Change described in clause (b)(ii) of the definition of “Fundamental Change” if (A) for Conversion
Dates prior to October 1, 2019, the applicable Conversion Date occurs during the period when the Notes are convertible on account of such Make-Whole Fundamental Change pursuant to Section 10.01(b)(iii)(2) and (B) for Conversion Dates
on or after October 1, 2019 if the applicable Conversion Date occurs during the period from, and including, the effective date of the Make-Whole Fundamental Change up to, and including, the Business Day immediately prior to the related
Fundamental Change Repurchase Date (or, in the case of a Make-Whole Fundamental Change that would have been a Fundamental Change but for the exclusion in clause (b)(ii) of the definition thereof, the 35th Trading Day immediately following the
effective date of such Make-Whole Fundamental Change). 
 Section 10.08 Effect of Recapitalization, Reclassification, Consolidation,
Merger or Sale. 
 (a) General. If any of the following events occur: 

(i) any recapitalization, reclassification or change of the Common Stock (other than changes resulting from a subdivision or
combination or change only in par value or from par value to no par value or no par value to par value); 
 (ii) any
consolidation, merger or combination involving the Company; 
 (iii) any 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, 
 and, in each case, as a result of which the Common Stock would be converted into, or exchanged for, or represent solely the right to receive,
stock, other securities, other property or assets (including cash or any combination thereof) (such stock, other securities, other property or assets, the “Reference Property,” and the amount and kind of Reference Property that a holder of
one share of Common Stock would be entitled to receive on account of such transaction, a “Reference Property Unit”), then, notwithstanding anything to the contrary herein or in the Notes, (I) at the effective time of such transaction,
the Conversion Consideration due upon conversion of any Notes, and the conditions to any such conversion, will be determined in the same manner as if each reference to any number of shares of Common Stock in this Article 10 were instead a reference
to the same number of Reference Property Units; and (II) if such Reference Property Unit consists entirely of cash, then the Company will be deemed to elect 

  
 73 

 
Cash Settlement in respect of all conversions whose Conversion Date occurs on or after the effective date of the Merger Event and shall pay the cash due upon such conversions no later than the
third (3rd) Business Day after the relevant Conversion Date. For these purposes, the Daily VWAP or Last Reported Sale Price of any Reference Property Unit or portion thereof that does not consist of a class of securities will be the fair value
of such Reference Property Unit or portion thereof, as applicable, determined in good faith by the Company (or, in the case of cash denominated in U.S. dollars, the face amount thereof). An event requiring a change to the Conversion Consideration as
provided in the immediately preceding sentence is herein referred to as a “Merger Event,” and the resulting, surviving or transferee Person (if other than the Company) of such Merger Event is herein referred to as the “Merger
Successor Corporation.” At or before the effective date of such Merger Event, the Company and such Merger Successor Corporation will execute and deliver to the Trustee a supplemental indenture pursuant to Section 9.03 hereof, which
supplemental indenture will (i) comply with the TIA as in force on the date such supplemental indenture is executed if this Indenture is then qualified under the TIA and such supplemental indenture is required by law to so comply;
(ii) provide for subsequent conversions of Notes in the manner set forth in the first sentence of this Section 10.08(a); and (iii) provide for subsequent adjustments to the Conversion Rate pursuant to Section 10.05 in a manner
that would have, as determined by the Board of Directors in good faith, an economic effect on the Holders as nearly equivalent as practicable to the economic effect the adjustments provided by Section 10.05 hereof would have had on the Holders
but for such Merger Event. Following such transaction or event, the Company will continue to have the right to settle conversions of the Notes by paying cash, delivering Reference Property or paying and delivering, as the case may be, a combination
of cash and Reference Property, at the Company’s election, subject to certain limitations, as provided in Section 10.03 above. 

If the Reference Property consists of more than a single type of consideration (determined based in part upon any form of shareholder
election), then the composition of the Reference Property Unit will be deemed to be the weighted average, per share of Common Stock, of the types and amounts of consideration received by the holders of Common Stock that affirmatively make such an
election (or, if no holders of Common Stock affirmatively make such an election, the types and amounts of consideration actually received by the holders of Common Stock). The Company shall notify Holders of the weighted average as soon as
practicable after such determination is made. 
 If the Reference Property Unit for a Merger Event includes shares of stock or other
securities or assets of a Person other than the Merger Successor Corporation for such Merger Event, then such other company will also execute such supplemental indenture and such supplemental indenture will contain whatever additional provisions the
Board of Directors considers to be reasonably necessary to protect the Holders and to calculate the value of a Reference Property Unit. 

(b) In connection with any adjustment to the Conversion Rate described above, the Company will also adjust the Dividend Threshold based on the
number of shares of Common Stock comprising the Reference Property Units and (if applicable) the value of any non-stock consideration comprising the Reference Property Units. If the Reference Property Units are composed solely of non-stock
consideration, the Dividend Threshold will be zero. 

  
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 (c) Notices. 

(i) As soon as practicable upon learning the anticipated or actual effective date of any Merger Event, the Company will deliver
written notice of such Merger Event to each Holder and the Trustee. Such Notice will include: 
 (1) a brief description of
such Merger Event; 
 (2) the Conversion Rate in effect on the date the Company delivers such notice; 

(3) the anticipated effective date for the Merger Event; 

(4) that, on and after the effective date for the Merger Event, the Notes will be convertible into Reference Property Units
and cash in lieu of fractional Reference Property Units; and 
 (5) the composition of the Reference Property Unit for such
Merger Event. 
 (ii) As promptly as practicable after executing a supplemental indenture in accordance with
Section 10.08(a) hereof, the Company will: 
 (1) file with the Trustee an Officers’ Certificate briefly
describing the reasons therefor, the composition of the Reference Property Unit for such Merger Event, any adjustment to be made with respect thereto and that all conditions precedent under this Indenture to such Merger Event have been complied
with; and 
 (2) cause to be sent to each Holder a notice of the execution of such supplemental indenture and the
composition of the Reference Property Unit for such Merger Event; provided, that the failure to deliver such notice to any Holder will not affect the validity or legality of such supplemental indenture. 

(d) Successive Merger Events. If more than one Merger Event occurs, this Section 10.08 will apply successively to each Merger
Event. 
 (e) Compliance Covenant. The Company will not become a party to any Merger Event unless its terms are consistent with this
Section 10.08. 
 Section 10.09 No Responsibility of Trustee or Conversion Agent. The Trustee and the Conversion Agent will
not have any duty or responsibility to any Holder to determine whether any facts exist that require an adjustment of the Conversion Rate, or with respect to the nature or extent or calculation of any such adjustment when made, or with respect to the
method employed in making the same. Neither the Trustee nor the Conversion Agent will be responsible for any failure of the Company to deliver the Conversion Consideration due 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 Article 10. Without limiting the generality of the 

  
 75 

 
foregoing, neither the Trustee nor the Conversion Agent will be under any responsibility to determine the correctness of any provisions contained in any supplemental indenture entered into
pursuant to Section 10.08 hereof, including with respect to the calculation of the amount of Conversion Consideration receivable by Holders upon the conversion of their Notes after any Merger Event, and each, subject to the provisions of
Article 7, may accept as conclusive evidence of the correctness of any such provisions, and will be protected in relying upon, the Officers’ Certificate (which the Company will be obligated to file with the Trustee prior to the execution of any
such supplemental indenture) with respect thereto. 
 Section 10.10 [Reserved]. 

Section 10.11 Exchange in Lieu of Conversion. Notwithstanding anything herein to the contrary, when a Holder surrenders Notes for
conversion, the Company may, at its election, direct the Conversion Agent to surrender, on or prior to the scheduled Trading Day immediately preceding the first Trading Day of the applicable Observation Period (or, if the Company has elected
Physical Settlement, on or prior to the second Business Day immediately following the relevant Conversion Date), such notes to a financial institution designated by the Company for exchange in lieu of conversion (the “Financial
Institution”). In order to accept any Notes surrendered for conversion, the Financial Institution must agree to pay and/or deliver, as the case may be, in exchange for such Notes, all of the cash, shares of Common Stock or a combination thereof
due upon conversion, all in accordance with Section 10.03 above. By the close of business on the Scheduled Trading Day immediately preceding the first trading day of the applicable Observation Period (or, if the Company has elected Physical
Settlement, by the close of business on the second Business Day immediately following the relevant Conversion Date), the Company will notify the Holder surrendering notes for conversion that the Company has directed the Financial Institution to make
an exchange in lieu of conversion. If the Financial Institution accepts any such Notes, it will pay and/or deliver, as the case may be, the cash, shares or Common Stock or a combination thereof due upon conversion to the Conversion Agent, and the
Conversion Agent will pay and/or deliver such cash and/or shares of Common Stock to the Holder on the third Business Day immediately following the last Trading Day of the applicable Observation Period (or, if the Company has elected Physical
Settlement, on the third Business Day immediately following the relevant Conversion Date). Any Notes exchanged by the Financial Institution will remain outstanding. If the Financial Institution agrees to accept any Notes for exchange but does
not timely pay and/or deliver the related cash, shares of Common Stock or a combination thereof, as the case may be, or if the Financial Institution does not accept the Notes for exchange, the Company shall, as promptly as practical thereafter,
convert the Notes and pay and/or deliver, as the case may be, the cash, shares or Common Stock or a combination thereof due upon conversion on the third Business Day immediately following the last Trading Day of the applicable Observation Period
(or, if the Company has elected Physical Settlement, on the third Business Day immediately following the relevant Conversion Date) as provided in Section 10.03 above. The Company’s designation of the Financial Institution to which the
Notes may be submitted for exchange does not require the Financial Institution to accept any Notes (unless the Financial Institution has separately made an agreement with the Company). The Company may, but will not be obligated to, enter into a
separate agreement with any Financial Institution that would compensate it for any such transaction. 

  
 76 

 ARTICLE XI  

REDEMPTION AT THE OPTION OF THE COMPANY 

Section 11.01 No Sinking Fund. No sinking fund is provided for the Notes. 

Section 11.02 Right To Redeem the Notes. 

(a) General. Prior to April 1, 2018, the Company may not redeem the Notes. On or after April 1, 2018, and prior to the
Maturity Date, the Company may redeem (a “Redemption”) all, but not less than all, of the Notes on the Redemption Date for an amount of cash equal to the Redemption Price for such Redemption Date if the Last Reported Sale Price of the
Common Stock equals or exceeds 130% of the Conversion Price in effect on each of at least 20 Trading Days, whether or not consecutive, during the 30 consecutive Trading Day period ending on the Trading Day immediately preceding the date on which the
Company delivers the Redemption Notice for such redemption pursuant to Section 11.03 hereof. 
 (b) The “Redemption Price”
means, for any Notes to be redeemed on a Redemption Date, a price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, on such Notes to, but excluding, such Redemption Date; provided,
however, that if a Redemption Date occurs after a Regular Record Date, but on or prior to the Interest Payment Date corresponding to such Regular Record Date, the Redemption Price for any Notes to be redeemed will equal 100% of the principal
amount of such Notes, and any accrued and unpaid interest on such Notes to, but excluding, such Interest Payment Date will be payable, on such Interest Payment Date, to the Holder of such Notes at the Close of Business on such Regular Record Date.

 (c) The “Redemption Date” means, for any redemption, the date specified as such on the Redemption Notice for such redemption,
which date must be a Business Day and must be not less than 20 Business Days, nor more than 45 Business Days, immediately following the date on which the Company delivers such Redemption Notice. 

Section 11.03 Redemption Notice. At least 20 Business Days but not more than 45 Business Days prior to any Redemption Date, the
Company will send to each Holder (and to any beneficial owner of a Global Note, as required by applicable law) a written notice of redemption (the “Redemption Notice,” and the date of such sending, the “Redemption Notice Date”)
and, substantially contemporaneously therewith, the Company will issue a press release announcing such redemption or announce such redemption on its website or through such other public medium as the Company may use at such time. 

For any redemption, the Redemption Notice corresponding to such redemption will specify: 

(a) briefly, a description of the Company’s redemption right under this Indenture; 

  
 77 

 (b) the Redemption Price for such Redemption Date (for each $1,000 principal amount of Notes);

 (c) the Redemption Date for such redemption; 

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

(e) that Notes called for redemption may be converted at any time before the Close of Business on the Business Day immediately preceding the
Redemption Date; 
 (f) the Conversion Rate in effect on the Redemption Notice Date for such redemption; 

(g) that Notes must be surrendered to the Paying Agent on or before the Redemption Date to collect the Redemption Price; 

(h) that, unless the Company defaults in paying the Redemption Price on the Redemption Date, interest, if any, on a Note will cease to accrue
on and after the Redemption Date; and 
 (i) the CUSIP and ISIN number(s) of the Notes. 

On any Redemption Notice Date, the Company will also furnish to the Trustee an Officers’ Certificate, which Officers’ Certificate
will set forth the aggregate principal amount of Notes then outstanding and include a copy of the Redemption Notice delivered by the Company on such Redemption Notice Date. 

Section 11.04 Effect of Redemption Notice. After the Company has delivered a Redemption Notice, each Holder will have the right to
receive payment of the Redemption Price for its Notes on the later of (i) the Redemption Date and (ii)(a) if the Notes are Definitive Notes, delivery of its Notes to the Paying Agent or (b) if the Notes are Global Notes, compliance with
the Applicable Procedures relating to the redemption and delivery of the beneficial interests to be redeemed to the Paying Agent; provided, however, that, until the Close of Business on the Business Day immediately preceding such
Redemption Date, Holders may convert their Notes, regardless of whether they have been delivered to the Paying Agent for redemption, by complying with the requirements for conversion set forth in Article 10. 

Section 11.05 Deposit of Redemption Price. Prior to 11:00 a.m., New York City time, on the Redemption Date, the Company will
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, will segregate and hold in trust as provided in Section 2.07 hereof) an amount of immediately available funds
sufficient to pay the Redemption Price of all of the then outstanding Notes. 
 Section 11.06 Effect of Deposit. If, as of 11:00
a.m., New York City time, on any Redemption Date, the Company, in accordance with Section 11.05 hereof, has deposited with the Paying Agent money sufficient to pay the Redemption Price for every Note validly delivered in

  
 78 

 
accordance with Section 11.04 hereof (and not converted before such Redemption Date), then, at the Close of Business on such Redemption Date: 

(a) every Note outstanding immediately prior to the Close of Business on such Redemption Date will cease to be outstanding and interest, if
any, on such Notes will cease to accrue (regardless of whether such Notes were delivered to the Paying Agent or book-entry transfer has been made, as applicable), except to the extent provided in the proviso to Section 11.02(b); and 

(b) all other rights of the Holders of such Notes with respect to such Notes (other than the right to receive payment of the Redemption Price
or, in the case of Notes surrendered for conversion in accordance with Article 10 hereof, the right to receive the Conversion Consideration due upon conversion of such Notes, and other than as provided in the proviso to Section 11.02(b)) will
terminate. 
 Section 11.07 Covenant Not to Redeem Notes During a Continuing Acceleration With Respect to the Notes 

(a) General. Notwithstanding anything to the contrary in this Article 11, the Company will not redeem any Notes under this Article 11
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 the Company that would be cured by the
Company’s payment of the Redemption Price for such Notes). 
 (b) Return of Notes. If a Holder delivers a Note for redemption
pursuant to Section 11.04 and, on the Redemption Date, pursuant to this Section 11.07, the Company is not permitted to redeem such Note, the Paying Agent will (i) if such Note is a Definitive Note, return such Note to such Holder, and
(ii) if such Note is held in book-entry form, in compliance with the Applicable Procedures, deem to be cancelled any instructions for book-entry transfer of such Note. 

Section 11.08 Repayment to the Company. Subject to any applicable property laws, if, six months after the Redemption Date, any
cash held by the Paying Agent remains unclaimed, the Paying Agent will promptly return such cash to the Company; provided, however, that, to the extent that the aggregate amount of cash deposited by the Company pursuant to
Section 11.05 exceeds the aggregate Redemption Price of every Note outstanding, then as soon as practicable following the Redemption Date, the Trustee will return such excess to the Company. 

ARTICLE XII  

MISCELLANEOUS 

Section 12.01 [Reserved]. 

Section 12.02 Notices. Any request, demand, authorization, notice, waiver, consent or communication will be in writing and
delivered in Person or mailed by first-class mail, postage 

  
 79 

 
prepaid, addressed as follows or transmitted by facsimile transmission or other similar means of unsecured electronic methods to the following: 

if to the Company: 
 GAIN Capital
Holdings, Inc. 
 Bedminster One 

135 Route 202/206 
 Bedminster,
New Jersey 07921 
 Facsimile: (866) 861-1673 

Attn: General Counsel 
 if to
the Trustee, Paying Agent or Conversion Agent: 
 The Bank of New York Mellon 

101 Barclay Street – Floor 7W 

New York, NY 10286 
 Facsimile:
(212) 815-5704 
 Attn: Corporate Trust Administration – Gain Holdings, Inc. 

if to the Registrar: 
 The Bank
of New York Mellon 
 111 Sanders Creek Parkway 

East Syracuse, NY 13057 
 Attn:
Corporate Trust – Transfers 
 The Company or the Trustee, by notice given to the other in the manner provided above, may designate
additional or different addresses for subsequent notices or communications. 
 Any notice or communication given to a Holder will be mailed
to the Holder, by first class mail, postage prepaid, at the Holder’s address as it appears on the registration books of the Registrar and will be deemed given on the date of such mailing; provided, however, that with respect to
any Global Note, such notice or communication will be sent to the Holder thereof pursuant to the Applicable Procedures. 
 Failure to mail
or send a notice or communication to a Holder or any defect in it will not affect its sufficiency with respect to other Holders. If a notice or communication is mailed or sent in the manner provided above, it is duly given, whether or not received
by the addressee. 
 If the Company mails or sends a notice or communication to the Holders, it will, at the same time, mail a copy to the
Trustee and each of the Registrar, Paying Agent and Conversion Agent. 
 If the Company is required under this Indenture to give a notice to
the Holders, in lieu of delivering such notice to the Holders, the Company may deliver such notice to the Trustee and cause the Trustee, at the Company’s expense, to have delivered such notice to the Holders on or

  
 80 

 
prior to the date on which the Company would otherwise have been required to deliver such notice to the Holders. In such a case, the Company will also cause the Trustee to mail a copy of the
notice to each of the Registrar, Paying Agent and Conversion Agent at the same time it sends the notice to the Holders. 

Section 12.03 Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Company to the Trustee to
take any action under this Indenture other than the authentication of the initial Definitive Note on the Issue Date, the Company will furnish to the Trustee: 

(a) an Officers’ Certificate stating that, in the judgment or opinion of the signers, all conditions precedent, if any, provided for in
this Indenture relating to the proposed action have been complied with; and 
 (b) an Opinion of Counsel stating that, in the judgment or
opinion of such counsel, all such conditions precedent relating to the proposed action (to the extent of legal conclusions and subject to reasonable assumptions and exclusions) have been complied with. 

Section 12.04 Statements Required in Certificate or Opinion. Each Officers’ Certificate or Opinion of Counsel with respect to
compliance with a covenant or condition (except for such Officers’ Certificate required to be delivered pursuant to Section 4.05 hereof) provided for in this Indenture will include: 

(a) a statement that each Person making such Officers’ Certificate or Opinion of Counsel has read such covenant or condition; 

(b) a brief statement as to the nature and scope of the examination or investigation upon which the statements, judgments or opinions
contained in such Officers’ Certificate or Opinion of Counsel are based; 
 (c) a statement that, in the judgment or opinion of each
such Person, he has made such examination or investigation as is necessary to enable such Person to express an informed judgment or opinion to whether or not such covenant or condition has been complied with; and 

(d) a statement that, in the judgment or opinion of such Person, such covenant or condition has been complied with. 

Section 12.05 Separability Clause. In case any provision in this Indenture or in the Notes will be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. 

Section 12.06 Rules by Trustee. The Trustee may make reasonable rules for action by, or a meeting of, Holders. 

Section 12.07 Governing Law and Waiver of Jury Trial. THE INDENTURE AND EACH NOTE WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, 

  
 81 

 
THE LAWS OF THE STATE OF NEW YORK. EACH OF THE COMPANY, THE TRUSTEE AND EACH HOLDER OF ANY NOTE BY HIS ACCEPTANCE THEREOF 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 12.08 No Recourse Against Others. A director, officer, employee or stockholder, as such, of the Company will not have any
liability for any obligations of the Company under the Notes or this Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Note, each Holder will waive and release all such liability.
The waiver and release will be part of the consideration for the issuance of the Notes. 
 Section 12.09 Calculations. Except as
otherwise provided in this Indenture, the Company will be responsible for making all calculations called for under the Notes and this Indenture. These calculations include, but are not limited to, determinations of the Last Reported Sale Price of
the Common Stock or any other security, the Daily Settlement Amounts, the Daily Conversion Values, accrued interest payable on the Notes and the Conversion Rate in effect on any Conversion Date. 

The Company will make all calculations in good faith and, absent manifest error, its calculations will be final and binding on all Holders.
The Company will provide a schedule of its calculations to each of the Trustee, the Paying Agent and the Conversion Agent, and each of the Trustee and Conversion Agent is entitled to rely conclusively upon the accuracy of the Company’s
calculations without independent verification. If any Holder requests from the Trustee a copy of such schedule, the Trustee will promptly forward a copy of such schedule to such Holder. In no event will the Trustee, the Paying Agent or Conversion
Agent be responsible for making any calculations under this Indenture or for determining amounts to be paid or for monitoring any stock price. Nor will the Trustee or Conversion Agent be charged with knowledge of or have any duties to monitor any
Measurement Period or Observation Period. 
 All calculations will be made to the nearest cent or to the nearest 1/10,000th of a share, as
the case may be, with 5/100,000ths rounded upward. 
 Section 12.10 Successors. All agreements of the Company, the Trustee, the
Registrar, the Paying Agent and the Conversion Agent in this Indenture and the Notes will bind their respective successors. 

Section 12.11 Multiple Originals. The parties may sign any number of copies of this Indenture. Each signed copy will be an
original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission will constitute effective execution
and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF will be deemed to be their original signatures for all
purposes. 

  
 82 

 Section 12.12 Table of Contents; Headings. The table of contents and headings of the
articles and sections of this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof, and will not modify or restrict any of the terms or provisions hereof. 

Section 12.13 Force Majeure. The Trustee, Registrar, Paying Agent and Conversion Agent will not incur any liability for not
performing any act or fulfilling any duty, obligation or responsibility hereunder by reason of any occurrence beyond the control of such Person (including, but not limited to, any act or provision of any present or future law or regulation or
governmental authority, any act of God or war, civil unrest, local or national disturbance or disaster, any act of terrorism, or the unavailability of the Federal Reserve Bank wire or facsimile or other wire or communication facility). 

Section 12.14 Submission to Jurisdiction. The Company: (a) agrees that any suit, action or proceeding against it arising out
of or relating to this Indenture or the Notes, as the case may be, may be instituted in any U.S. federal court with applicable subject matter jurisdiction sitting in The City of New York; (b) waives, to the fullest extent permitted by
applicable law, any objection which it may now or hereafter have to the laying of venue of any such suit, action or proceeding, and any claim that any suit, action or proceeding in such a court has been brought in an inconvenient forum; and
(c) submits to the nonexclusive jurisdiction of such courts in any suit, action or proceeding. 
 Section 12.15 Legal
Holidays. If the Maturity Date or any Interest Payment Date, Fundamental Change Repurchase Date or Redemption Date is not a Business Day, then any action to be taken on such date need not be taken on such date, but may be taken on the
immediately following Business Day with the same force and effect as if taken on such date, and no interest will accrue for the period from and after such date. 

Section 12.16 No Security Interest Created. Except as provided in Section 7.06 or 9.01(b) hereof, nothing in this Indenture
or in the Notes, expressed or implied, will 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 12.17 Benefits of Indenture. Nothing in this Indenture or in the Notes, expressed or implied, will give to any Person,
other than the parties hereto, any Paying Agent, Conversion Agent, Registrar, and their successors hereunder, and the Holders any benefit or any legal or equitable right, remedy or claim under this Indenture. 

Section 12.18 U.S.A. Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot
Act, the Trustee, like all financial institutions, in order to help fight the funding of terrorism and money laundering, is required to obtain, verify and record information that identifies each person or legal entity that establishes a relationship
or opens an account with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act. 

[Signature Pages Follow] 

  
 83 

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

			
	GAIN CAPITAL HOLDINGS, INC.
		
	 By:
	 	 /s/ Nigel Rose

		 	Name: Nigel Rose
		 	Title:   Chief Financial Officer

 [Signature Page to Indenture] 

 IN WITNESS WHEREOF, the undersigned, being duly authorized, has executed this Indenture as of the
day and year first before written. 
  

			
	THE BANK OF NEW YORK MELLON, as Trustee
		
	By:		 /s/ Francine Kincaid

			Name: Francine Kincaid
			Title:   Vice President

 [Signature Page to Indenture] 

 EXHIBIT A 

FORM OF NOTE 
 [FORM OF
FACE OF NOTE] 
 [Include the following legend for Global Notes only (the “Global Notes Legend”):] 

THIS IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE
DEPOSITARY, WHICH MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS NOTE FOR ALL PURPOSES. 
 UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL NOTE WILL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF THE DEPOSITORY TRUST COMPANY, OR TO A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE WILL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN ARTICLE 2 OF THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

[Include the following legend on all Notes that are Restricted Notes (the “Restricted Notes Legend”):] 

THIS SECURITY AND ANY COMMON STOCK ISSUABLE UPON CONVERSION OF THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER AGREES FOR THE BENEFIT OF GAIN
CAPITAL HOLDINGS, INC. (THE “COMPANY”) THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN EXCEPT: 
  

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

  
 A-1 

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

  

	 	(C)	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 (2)(C) ABOVE, THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH
LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO
THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

  
 A-2 

 No.:     [    ] 

CUSIP:[    ]* 
 ISIN:
  [    ]* 
 Principal Amount $[        ] 

[as revised by the Schedule of Increases 

and Decreases of Global Note attached hereto]1 

GAIN Capital Holdings, Inc. 

4.125% Convertible Senior Notes due 2020 

GAIN Capital Holdings, Inc., a Delaware corporation, promises to pay to [    ],2 or registered assigns, the principal amount of $[        ] [(as revised by the Schedule of Increases and Decreases of Global Note attached hereto)]3 on April 1, 2020. 
 Interest Payment Dates: April 1 and October 1 of each
year, beginning October 1, 2015. 
 Regular Record Dates: March 15 and September 15 of each year, beginning
September 15, 2015. 
 Additional provisions of this Note are set forth on the other side of this Note. 

 

	*	Upon the removal of the Restricted Notes Legend in accordance with the within-mentioned Indenture, these CUSIP and ISIN numbers will be deemed removed and replaced with the CUSIP number [    ] and
ISIN number [    ]. 

  

	1 	Include for Global Notes only. 

	2 	Insert Cede & Co. for Global Notes. 

	3 	Include for Global Notes only. 

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

Date: April 1, 2015 
  

			
	GAIN CAPITAL HOLDINGS, INC.
		
	By:		  

			Name:
			Title:
		
	By:		  

			Name:
			Title:

 [Signature Page to Global Note] 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

THE BANK OF NEW YORK MELLON, as Trustee, certifies that this is one of the Notes referred to in the within-mentioned Indenture. 

 

			
	By:		  

			Authorized Signatory
		
			Dated:

 Certificate of Authentication – GAIN Capital Holdings, Inc. 4.125% Convertible Senior Note

 [FORM OF REVERSE OF NOTE] 

GAIN CAPITAL HOLDINGS, INC. 

4.125% Convertible Senior Notes due 2020 

This Note is one of a duly authorized issue of notes of GAIN Capital Holdings, Inc. (the “Company”), designated as its 4.125%
Convertible Senior Notes due 2020 (the “Notes”), all issued or to be issued under and pursuant to an indenture dated as of the Issue Date (the “Indenture”), between the Company and The Bank of New York Mellon (the
“Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the
Holders. Capitalized terms used herein and not defined herein have the meanings ascribed to them in the Indenture, and the terms of the Notes include those stated in the Indenture and those incorporated into the Indenture. Notwithstanding anything
herein to the contrary, to the extent that any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture will govern and control. 

 

	1.	Interest. 

 This Note will bear interest at a rate equal to 4.125% per annum.
Interest on this Note will accrue from the most recent date to which interest has been paid or provided for, or, if no interest has been paid or provided for, the Issue Date. Interest will be payable semiannually in arrears on April 1 and
October 1 of each year, beginning on October 1, 2015. Each payment of cash interest on this Note will include interest accrued for the period commencing on and including the immediately preceding Interest Payment Date (or, if none, the
Issue Date) through, and including, the day before the applicable Interest Payment Date. 
 Pursuant to Section 4.04 of the Indenture,
in certain circumstances, the Company will pay Additional Interest on this Note. 
 Pursuant to Section 6.04 of the Indenture, in
certain circumstances, the Company will pay an Extension Fee on this Note. 
 Pursuant to Section 2.04 of the Indenture, in certain
circumstances, the Company will pay Default Interest on Defaulted Amounts with respect to this Note. 
  

	2.	Method of Payment. 

 The Company will promptly make all payments on this Note on the
dates and in the manner provided herein and in the Indenture. Payments on Notes represented by a Global Note (including principal and interest) will be made by wire transfer of immediately available funds to the accounts specified by Depositary. The
Company will pay principal of, and any Fundamental Change Repurchase Price or Redemption Price for, Definitive Notes at the office or agency designated by the Company for such purpose. Interest on Definitive Notes will be made by check or by wire
transfer, as described in Section 2.04, except that any payment of Interest due on the Maturity Date will be made at the office or agency designated by the Company for such purpose. All payments on this Note will be made in money of the United
States that at the time of payment is legal tender for payment of public and private debts. 

  
 A-1 

	3.	Paying Agent, Conversion Agent and Registrar. 

 Initially, The Bank of New York Mellon
will act as the Trustee, Paying Agent, Conversion Agent and Registrar. The Company may appoint and change any Paying Agent, Conversion Agent or Registrar; provided, that the Company will maintain at least one Paying Agent, Conversion Agent
and Registrar in the continental United States. The Company or any of its Subsidiaries or any of their Affiliates may act as Paying Agent, Conversion Agent or Registrar. 
  

	4.	Repurchase By the Company at the Option of the Holder upon a Fundamental Change. 

 At the
option of the Holder, and subject to the terms and conditions of the Indenture, upon the occurrence of a Fundamental Change, each Holder will have the right, at its option, to require the Company to repurchase for cash all of its Notes, or any
portion of its Notes having a principal amount equal to $1,000 or an integral multiple of $1,000 in excess thereof, at a Fundamental Change Repurchase Price equal to 100% of the principal amount of Notes to be purchased plus accrued and unpaid
interest, if any, to but excluding, the Fundamental Change Repurchase Date, unless the Fundamental Change Repurchase Date occurs after a Regular Record Date and on or prior to the Interest Payment Date corresponding to such Regular Record Date, in
which case the Company will pay the accrued and unpaid interest on such Notes, on such Interest Payment Date, to the Holder of such Notes as of the Close of Business on such Regular Record Date, and the Fundamental Change Repurchase Price shall not
include such accrued and unpaid interest. To exercise its purchase right, a Holder must comply with the procedures set forth in Article 3 of the Indenture. 
  

	5.	Redemption at the Option of the Company. 

 Prior to April 1, 2018, the Company may
not redeem the Notes. Subject to the terms of the Indenture, on or after April 1, 2018, and prior to the Maturity Date, the Company may redeem all, but not less than all, of the Notes if the Last Reported Sale Price of the Common Stock equals
or exceeds 130% of the Conversion Price in effect on each of at least 20 Trading Days, whether or not consecutive, during the 30 consecutive Trading Day period ending on the Trading Day immediately prior to the date the Company delivers the
Redemption Notice for such redemption. Any Redemption Date must be at least 20 Business Days, but not more than 45 Business Days, after the date on which the Company delivers the applicable Redemption Notice. The Redemption Price that the Company
will pay for any Notes that it redeems will equal to 100% of the principal amount of Notes to be purchased plus accrued and unpaid interest, if any, to but excluding, the Redemption Date, unless the Redemption Date occurs after a Regular Record Date
and on or before the Interest Payment Date corresponding to such Regular Record Date, in which case the Redemption Price for any Notes to be redeemed will equal 100% of the principal amount of such Notes, and accrued and unpaid interest, if any, on
such Notes to, but excluding, such Interest Payment Date will be payable, on such Interest Payment Date, to the Holder of such Notes at the Close of Business on such Regular Record Date. 

  
 A-2 

	6.	Conversion. 

 Subject to, and upon compliance with, the provisions of Article 10 of the
Indenture, a Holder may, at its option, convert all of its Notes, or any portion of its Notes having a principal amount equal to $1,000 or an integral multiple of $1,000 in excess thereof, (i) subject to satisfaction of the conditions and
during the periods set forth in Section 10.01(b) of the Indenture, at any time prior to the Close of Business on the Business Day immediately preceding October 1, 2019 and (ii) irrespective of the conditions set forth in
Section 10.01(b) of the Indenture, on or after October 1, 2019, and prior to the Close of Business on the Business Day immediately preceding the Maturity Date, in each case, into Conversion Consideration, as provided in Article 10 of the
Indenture, based on the Conversion Rate. Notes may not be converted after the Close of Business on the Business Day immediately preceding the Maturity Date. 
  

	7.	Denominations; Transfer; Exchange. 

 The Notes are in fully registered form, without
coupons, in minimum denominations of $1,000 of principal amount and in integral multiples of $1,000 in excess thereof. A Holder may transfer or exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other things,
to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law. The Registrar need not transfer or exchange any Notes in respect of which a Fundamental Change Repurchase Notice has been given and not
withdrawn (except, in the case of a Note to be repurchased in part, the portion of the Note not to be repurchased), after the Company has delivered a Redemption Notice (except to the extent that Notes are converted or the Company fails to pay the
Redemption Price in accordance with Article 11 of the Indenture) or in respect of which a Conversion Notice has been given (except, in the case of a Note to be converted in part, the portion of the Note not to be converted). 

 

	8.	Amendment, Supplement and Waiver. 

 Subject to certain exceptions, the Indenture permits
the Indenture and the Notes to be amended or supplemented with the written consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes. In certain circumstances, the Company and the Trustee may also
amend or supplement the Indenture or the Notes without the consent of any Holder. Subject to certain exceptions, the Indenture permits the waiver of certain Events of Default or the noncompliance with certain provisions of the Indenture and of the
Notes with the written consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes. 
  

	9.	Defaults and Remedies. 

 Subject to the immediately following paragraph, if an Event of
Default specified in the Indenture occurs and is continuing, the Trustee, by delivering a written notice to the Company, or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding, by delivering a written notice to
the Company and the Trustee, may declare all the Notes to be due and payable immediately by delivering notice to the Company. In addition, certain specified Events of Default will cause the Notes to become immediately due and payable without the
Trustee or Holders taking any action. 

  
 A-3 

 If the Company so elects, the sole remedy for an Event of Default relating to the Company’s
failure to comply with the reporting obligations under Section 4.03 of the Indenture will for the first 180 days after the occurrence of such Event of Default, beginning on, and including, the date of which such an Event of Default first
occurs, consist exclusively of the right to receive an Extension Fee on the principal amount of the Notes then outstanding. 
 Holders may
not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Notes unless it receives indemnity or security satisfactory to it. Holders of a majority of the principal amount of
the then outstanding Notes may direct the Trustee in its exercise of any trust or power, subject to certain limitations set forth in the Indenture. Subject to certain exceptions, the Trustee may withhold from Holders notice of any continuing Event
of Default or Default if it determines that withholding notice is in their interest. 
  

	10.	Persons Deemed Owners. 

 The Holder of this Note will be treated as the owner of this
Note for all purposes. 
  

	11.	Unclaimed Money or Notes. 

 The Trustee and the Paying Agent will return to the Company
upon written request any money or securities held by them for the payment of any amount with respect to the Notes that remain unclaimed for two years, subject to applicable unclaimed property law. After return to the Company, Holders entitled to the
money or securities must look to the Company for payment as general creditors, unless an applicable abandoned property law designates another Person. 
  

	12.	Trustee Dealings with the Company. 

 The Trustee, in its individual or any other
capacity, may become the owner or pledgee of Notes and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the Company or its Affiliates with the same rights it would have if it
were not the Trustee. 
  

	13.	Calculations in Respect of Notes. 

 Except as otherwise provided in the Indenture, the
Company will be responsible for making all calculations called for under the Notes and the Indenture. These calculations include, but are not limited to, determinations of the Last Reported Sale Price of the Common Stock or any other security, the
Daily Settlement Amounts, the Daily Conversion Values, accrued interest payable on the Notes and the Conversion Rate in effect on any Conversion Date. 

The Company will make all these calculations in good faith and, absent manifest error, its calculations will be final and binding on all
Holders. 

  
 A-4 

	14.	No Recourse Against Others. 

 A director, officer, employee or stockholder, as such, of
the Company will not have any liability for any obligations of the Company under the Notes or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Note, each Holder waives and
releases all such liability. The waiver and release are part of the consideration for the issue of the Notes. 
  

	15.	Authentication. 

 This Note will not be valid until an authorized signatory of the
Trustee manually signs the Trustee’s certificate of authentication on the other side of this Note. 
  

	16.	Abbreviations. 

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

 

	17.	GOVERNING LAW. 

 THE INDENTURE AND THE NOTES WILL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  

	18.	CUSIP Numbers. 

 Pursuant to a recommendation promulgated by the Committee on Uniform
Note Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in any notices as a convenience to Holders. No representation is made as to the accuracy of such numbers either as
printed on the Notes or as contained in any notice, and reliance may be placed only on the other identification numbers placed thereon. 

The Company will furnish to any Holder, upon written request and without charge, a copy of the Indenture which has in it the text of this
Note. Requests may be made to: 
 GAIN Capital Holdings, Inc. 

Bedminster One 
 135 Route 202/206 

Bedminster, New Jersey 07921 
 Facsimile: (866) 861-1673 

Attn: General Counsel 

  
 A-5 

 CONVERSION NOTICE 

GAIN CAPITAL HOLDINGS, INC. 

4.125% CONVERTIBLE SENIOR NOTES DUE 2020 
 To
convert this Note, check the box   ̈ 
 To convert the entire principal amount of this Note, check
the box   ̈ 
 To convert only a portion of the principal amount of this Note, check the
box   ̈  and here specify the principal amount to be converted, which principal amount must equal $1,000 or an integral multiple of $1,000 in excess thereof: 

 

					
	 $
	 	 	 	
	Signature Guaranteed
	
	 
	Participant in a Recognized Signature
	Guarantee Medallion Program

			
		
	By:	 	  

		 	Authorized Signatory      

  
 A-6 

 FUNDAMENTAL CHANGE REPURCHASE NOTICE 

The Bank of New York Mellon 
 101 Barclay Street – Floor 7W

 New York, NY 10286 
 Attn: Corporate Trust Administration
– Gain Holdings, Inc. 
 The undersigned registered owner of this Note hereby acknowledges receipt of a notice from GAIN Capital
Holdings, Inc. (the “Company”) as to the occurrence of a Fundamental Change with respect to the Company and specifying the Fundamental Change Repurchase Date and requests and instructs the Company to pay to the Holder hereof in accordance
with the applicable provisions of the Indenture referred to in this Note (1) the entire principal amount of this Note, or the portion thereof (that is equal to $1,000 principal amount or an integral multiple of $1,000 in excess thereof) below
designated, and (2) if such Fundamental Change Repurchase Date does not occur during the period after a Regular Record Date and on or prior to the corresponding Interest Payment Date, accrued and unpaid interest, if any, thereon to, but
excluding, such Fundamental Change Repurchase Date. 
 Principal amount to be repaid (if less than all):
$        ,000 
  

	
	Signature Guaranteed
	
	 
	 Participant in a Recognized Signature

Guarantee Medallion Program

  

			
	Guarantee Medallion Program
		
	By:		 
			    Authorized Signatory

  
 A-7 

 [Include for Global Note] 

SCHEDULE OF INCREASES AND DECREASES OF GLOBAL NOTE 

Initial Principal Amount of Global Note: $[        ] 

 

									
	 Date
	  	Amount of Increase
in Principal
Amount of Global
Note	  	Amount of
Decrease in
Principal Amount
of Global Note	  	Principal Amount
of Global Note
After Increase or
Decrease	  	Notation by
Registrar or Note
Custodian
		  		  		  		  	
		  		  		  		  	

  
 A-8 

 EXHIBIT B 

FORM OF TRANSFER CERTIFICATE 

GAIN CAPITAL HOLDINGS, INC. 

4.125% CONVERTIBLE SENIOR NOTES DUE 2020 
 The
Bank of New York Mellon 
 111 Sanders Creek Parkway 
 East
Syracuse, NY 13057 
 Attn: Corporate Trust – Transfers 

Transfer Certificate 
 In
connection with any transfer of any of this Note, the undersigned registered owner of this Note hereby certifies, with respect to $[        ] principal amount of the above-captioned Notes presented or
surrendered on the date hereof (the “Surrendered Note”) for registration of transfer, or for exchange or conversion where the securities issuable upon such exchange or conversion are to be registered in a name other than that of the
undersigned registered owner (each such transaction being a “Transfer”), that such Transfer complies with the restrictive legend set forth on the face of the Surrendered Note for the reason checked below: 

 

	 ̈	The Transfer of the Surrendered Note is being made to the Company or a Subsidiary thereof; or 

  

	 ̈	The Transfer of the Surrendered Note is being made pursuant to an effective registration statement under the Securities Act; or 

  

	 ̈	The Transfer of the Surrendered Note is being made 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. 

  

			
	 Date:
		  

		
	 By:
		  

 (If the registered owner is a corporation, partnership or fiduciary, the title of the Person signing on behalf of such
registered owner must be stated.) 
  

	
	Signature Guaranteed
	
	  

	Participant in a Recognized Signature
	
	Guarantee Medallion Program

			
		
	By:		 
			Authorized Signatory

  

  
 B-1 

 EXHIBIT C 

[FORM OF RESTRICTED STOCK LEGEND] 
 THIS
SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION
HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER AGREES FOR THE BENEFIT OF GAIN CAPITAL HOLDINGS, INC. (THE “COMPANY”) THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN,
EXCEPT: 
  

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

  

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

  

	 	(C)	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 (2)(C) ABOVE, THE COMPANY AND THE TRANSFER AGENT RESERVE THE RIGHT TO REQUIRE THE DELIVERY
OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS
MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

  
 C-1

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