Exhibit 10.5

 

EXECUTION COPY

 

FOURTH SUPPLEMENTAL INDENTURE

 

FOURTH SUPPLEMENTAL INDENTURE (this “Fourth Supplemental Indenture”) dated March
24, 2004, by and among ADVANCEPCS, a Delaware corporation (the “Company”),
ADVANCEPCS HEALTH SYSTEMS, L.L.C., a Delaware limited liability company,
ADVANCEPCS SPECIALTYRX, L.L.C., a Delaware limited liability company,
DRESING-LIERMAN, INC., an Ohio corporation, and THERACOM, INC., an Ohio
corporation, CONSUMER HEALTH INTERACTIVE, INC., a Delaware corporation,
ADVANCEPCS PUERTO RICO, INC., a corporation formed under the laws of the British
Virgin Islands, AFC RECEIVABLES HOLDING CORPORATION, a Delaware corporation,
ACCORDANT HEALTH SERVICES, INC., a Delaware corporation and ACCORDANT INTEGRATED
SERVICES, INC., a North Carolina corporation, each of which is a subsidiary of
the Company (each, a “Guaranteeing Subsidiary” and, together, the “Guarantors”),
and THE BANK OF NEW YORK TRUST COMPANY, N.A., successor trustee to U.S. Trust
Company of Texas, N.A., under the indenture referred to below (the “Trustee”).

 

WITNESSETH

 

WHEREAS, the Company, the Trustee and certain Guarantors are parties to an
indenture, dated as of March 13, 2001, as supplemented by First Supplemental
Indenture, effective August 30, 2001, the Second Supplemental Indenture,
effective December 10, 2001, and the Third Supplemental Indenture, effective
November 11, 2002 (collectively, the “Indenture”), providing for the issuance of
an aggregate principal amount of up to $300,000,000 of 8½% Senior Notes due 2008
(the “Notes”);

 

WHEREAS, an aggregate principal amount of $187,825,000 of Notes are now
outstanding under the Indenture;

 

WHEREAS, Section 9.02 of the Indenture provides that the Company, the Guarantors
and the Trustee may amend or supplement the Indenture with the consent of the
Holders of at least a majority in principal amount of Notes then outstanding
voting as a single class;

 

WHEREAS, the Company desires to amend certain provisions of the Indenture and
the Notes, as set forth in Article 1 hereof;

 

WHEREAS, pursuant to an Offer to Purchase and Consent Solicitation Statement
dated February 18, 2004 of Cougar Merger Corporation (“Cougar”), a Delaware
corporation which has been merged with and into the Company, Cougar solicited
tenders of the Notes (the “Tender Offer”) and solicited and obtained from the
holders of a

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majority in principal amount of Notes outstanding consents to the amendments as
set forth in Article 1 hereof (the “Solicitation”);

 

WHEREAS, pursuant to Section 9.02 of the Indenture, the Trustee is authorized to
execute and deliver this Fourth Supplemental Indenture; and

 

WHEREAS, all things necessary to make this Fourth Supplemental Indenture a valid
agreement, in accordance with the terms of the Indenture, have been done.

 

NOW, THEREFORE, in consideration of the foregoing and for other good and
valuable consideration, the receipt of which is hereby acknowledged, the
Company, the Guarantors and the Trustee mutually covenant and agree as follows:

 

ARTICLE 1

 

AMENDMENTS TO INDENTURE, NOTES AND ADDITIONAL PROVISIONS

 

SECTION 1.01. Amendments to Articles 1, 3, 4, 5, 6 and 8. The Indenture and the
Notes are hereby supplemented and amended by deleting in their entirety, as the
case may be, the following:

 

(a) Sections 3.09, 4.03, 4.07 through and including 4.12, 4.14, 4.16, 4.17,
5.01(iv), 6.01(v) and 6.01(vi) of the Indenture;

 

(b) all defined terms and definitions used in the sections set forth above in
clause (a), except if they are used in other sections, in which event they shall
not be so deleted;

 

(c) all references to the sections set forth above in clause (a), including
without limitation all references, direct or indirect, thereto in Article 6,
“Events of Default” and Section 8.03, “Covenant Defeasance”; and

 

(d) the provisions of the Notes corresponding to the sections set forth above in
clauses (a) through and including (c).

 

SECTION 1.02. Effectiveness. This Fourth Supplemental Indenture shall become
effective and operative immediately, without any further action required by the
parties hereto, with the effect that the Indenture shall be, for all purposes,
supplemented and amended by this Fourth Supplemental Indenture upon consummation
of the Tender Offer and the Solicitation and the Company’s acceptance for
purchase and payment of Notes tendered pursuant to the Tender Offer and of
Consents delivered pursuant to the Solicitation (the “Consummation”),
notwithstanding the earlier dated execution and delivery of this Fourth
Supplemental Indenture; provided that, if such Consummation does not occur, this
Fourth Supplemental Indenture shall be void and of no effect.

 

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ARTICLE 2

 

SECTION 2.01. Instruments To Be Read Together; Confirmation. This Fourth
Supplemental Indenture is an indenture supplemental to the Indenture, and the
Indenture and this Fourth Supplemental Indenture shall be read together. The
Indenture as amended and supplemented by this Fourth Supplemental Indenture is
in all respects confirmed and preserved.

 

SECTION 2.02. Definitions. Capitalized terms used in this Fourth Supplemental
Indenture and not otherwise defined herein shall have the respective meanings
set forth in the Indenture. Any defined terms present in the Indenture, but no
longer used as a result of the amendments made by this Fourth Supplemental
Indenture shall be eliminated.

 

SECTION 2.03. NEW YORK LAW TO GOVERN. THIS FOURTH SUPPLEMENTAL INDENTURE SHALL
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK.

 

SECTION 2.04. Counterparts. The parties may sign any number of copies of this
Fourth Supplemental Indenture. Each signed copy shall be an original, but all of
them together represent the same agreement.

 

SECTION 2.05. Effectiveness of the Headings. The Section headings are for
convenience only and shall not affect the construction hereof.

 

SECTION 2.06. The Trustee. The Trustee shall not be responsible in any manner
whatsoever for, or in respect of, the validity or sufficiency of this Fourth
Supplemental Indenture or for, or in respect of, the recitals contained herein,
all of which recitals are made solely by each Guaranteeing Subsidiary and the
Company.

 

 

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

 

ADVANCEPCS By:  

/s/    Peter J. Clemens IV

   

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    Name:   Peter J. Clemens IV     Title:   Treasurer

 

ADVANCEPCS HEALTH SYSTEMS, L.L.C. By:  

/s/    Peter J. Clemens IV

   

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    Name:   Peter J. Clemens IV     Title:   Treasurer

 

ADVANCEPCS SPECIALTYRX, L.L.C. By:  

/s/    Peter J. Clemens IV

   

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    Name:   Peter J. Clemens IV     Title:   Treasurer

 

DRESING-LIERMAN, INC. By:  

/s/    Peter J. Clemens IV

   

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    Name:   Peter J. Clemens IV     Title:   Treasurer

 

 

THERACOM, INC. By:  

/s/    Peter J. Clemens IV

   

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    Name:   Peter J. Clemens IV     Title:   Treasurer

 

[SIGNATURE PAGE TO FOURTH SUPPLEMENTAL INDENTURE]

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CONSUMER HEALTH INTERACTIVE, INC. By:  

/s/    Peter J. Clemens IV

   

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    Name:   Peter J. Clemens IV     Title:   Treasurer

 

ADVANCEPCS PUERTO RICO, INC. By:  

/s/    Peter J. Clemens IV

   

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    Name:   Peter J. Clemens IV     Title:   Treasurer

 

AFC RECEIVABLES HOLDING CORPORATION By:  

/s/    Peter J. Clemens IV

   

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    Name:   Peter J. Clemens IV     Title:   Treasurer

 

ACCORDANT HEALTH SERVICES, INC. By:  

/s/    Peter J. Clemens IV

   

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    Name:   Peter J. Clemens IV     Title:   Treasurer

 

ACCORDANT INTEGRATED SERVICES, INC. By:  

/s/    Peter J. Clemens IV

   

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    Name:   Peter J. Clemens IV     Title:   Treasurer

 

[SIGNATURE PAGE TO FOURTH SUPPLEMENTAL INDENTURE]

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

/s/    /s/ Patrick Giordano

   

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    Name:   Patrick Giordano     Title:   Vice President

 

[SIGNATURE PAGE TO FOURTH SUPPLEMENTAL INDENTURE]