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43




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TABLE OF CONTENTS
 PageARTICLE IDEFINITIONSSECTION 1.01. Definitions
    
    
    1ARTICLE IIDEBT SECURITIESSECTION 2.01. Authentication and Dating
    
    
    8SECTION 2.02. Form of Trustees Certificate of Authentication
    
    
    9SECTION 2.03. Form and Denomination of Debt Securities
    
    
    9SECTION 2.04. Execution of Debt Securities
    
    
    9SECTION 2.05. Exchange and Registration of Transfer of Debt Securities
    
    
    10SECTION 2.06. Mutilated, Destroyed, Lost or Stolen Debt Securities
    
    
    13SECTION 2.07. Temporary Debt Securities
    
    
    14SECTION 2.08. Payment of Interest
    
    
    14SECTION 2.09. Cancellation of Debt Securities Paid, etc
    
    
    15SECTION 2.10. Computation of Interest
    
    
    16SECTION 2.11. Extension of Interest Payment Period
    
    
    17SECTION 2.12. CUSIP Numbers
    
    
    18SECTION 2.13. Global Debentures
    
    
    18ARTICLE IIIPARTICULAR COVENANTS OF THE COMPANYSECTION 3.01. Payment of Principal, Premium and Interest; Agreed
Treatment of the Debt Securities
    
    
    20SECTION 3.02. Offices for Notices and Payments, etc
    
    
    21SECTION 3.03. Appointments to Fill Vacancies in Trustees Office
    
    
    22SECTION 3.04. Provision as to Paying Agent
    
    
    22SECTION 3.05. Certificate to Trustee
    
    
    23SECTION 3.06. Additional Interest
    
    
    23SECTION 3.07. Compliance with Consolidation Provisions
    
    
    23SECTION 3.08. Limitation on Dividends
    
    
    24SECTION 3.09. Covenants as to the Trust
    
    
    24
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TABLE OF CONTENTS
(CONTINUED)
 PageARTICLE IVLISTS AND REPORTS BY THE COMPANY AND THE TRUSTEESECTION 4.01. Securityholders Lists
    
    
    25SECTION 4.02. Preservation and Disclosure of Lists
    
    
    25SECTION 4.03. Financial and Other Information
    
    
    26ARTICLE VREMEDIES OF THE TRUSTEE AND SECURITYHOLDERS UPON AN EVENT OF DEFAULTSECTION 5.01. Events of Default
    
    
    27SECTION 5.02. Payment of Debt Securities on Default; Suit Therefor
    
    
    29SECTION 5.03. Application of Moneys Collected by Trustee
    
    
    30SECTION 5.04. Proceedings by Securityholders
    
    
    31SECTION 5.05. Proceedings by Trustee
    
    
    31SECTION 5.06. Remedies Cumulative and Continuing
    
    
    32SECTION 5.07. Direction of Proceedings and Waiver of Defaults by Majority
of Securityholders
    
    
    32SECTION 5.08. Notice of Defaults
    
    
    33SECTION 5.09. Undertaking to Pay Costs
    
    
    33ARTICLE VICONCERNING THE TRUSTEESECTION 6.01. Duties and Responsibilities of Trustee
    
    
    34SECTION 6.02. Reliance on Documents, Opinions, etc
    
    
    35SECTION 6.03. No Responsibility for Recitals, etc
    
    
    36SECTION 6.04. Trustee, Authenticating Agent, Paying Agents, Transfer Agents or
Registrar May Own Debt Securities
    
    
    36SECTION 6.05. Moneys to be Held in Trust
    
    
    36SECTION 6.06. Compensation and Expenses of Trustee
    
    
    37SECTION 6.07. Officers Certificate as Evidence
    
    
    37SECTION 6.08. Eligibility of Trustee
    
    
    38SECTION 6.09. Resignation or Removal of Trustee, Calculation
Agent, Paying Agent or Debt Security Registrar
    
    
    38SECTION 6.10. Acceptance by Successor
    
    
    39
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TABLE OF CONTENTS
(CONTINUED)
 PageSECTION 6.11. Succession by Merger, etc
    
    
    40SECTION 6.12. Authenticating Agents
    
    
    41ARTICLE VIICONCERNING THE SECURITYHOLDERSSECTION 7.01. Action by Securityholders
    
    
    42SECTION 7.02. Proof of Execution by Securityholders
    
    
    43SECTION 7.03. Who Are Deemed Absolute Owners
    
    
    43SECTION 7.04. Debt Securities Owned by Company Deemed Not Outstanding
    
    
    43SECTION 7.05. Revocation of Consents; Future Securityholders Bound
    
    
    44ARTICLE VIIISECURITYHOLDERS MEETINGSSECTION 8.01. Purposes of Meetings
    
    
    44SECTION 8.02. Call of Meetings by Trustee
    
    
    45SECTION 8.03. Call of Meetings by Company or Securityholders
    
    
    45SECTION 8.04. Qualifications for Voting
    
    
    45SECTION 8.05. Regulations
    
    
    45SECTION 8.06. Voting
    
    
    46SECTION 8.07. Quorum; Actions
    
    
    46SECTION 8.08. Written Consent Without a Meeting
    
    
    47ARTICLE IXSUPPLEMENTAL INDENTURESSECTION 9.01. Supplemental Indentures without Consent of Securityholders
    
    
    47SECTION 9.02. Supplemental Indentures with Consent of Securityholders
    
    
    49SECTION 9.03. Effect of Supplemental Indentures
    
    
    50SECTION 9.04. Notation on Debt Securities
    
    
    50SECTION 9.05. Evidence of Compliance of Supplemental Indenture to be furnished to Trustee
    
    
    50ARTICLE XREDEMPTION OF SECURITIESSECTION 10.01. Optional Redemption
    
    
    50SECTION 10.02. Special Event Redemption
    
    
    51
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TABLE OF CONTENTS
(CONTINUED)
 PageSECTION 10.03. Notice of Redemption; Selection of Debt Securities
    
    
    51SECTION 10.04. Payment of Debt Securities Called for Redemption
    
    
    52ARTICLE XICONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASESECTION 11.01. Company May Consolidate, etc., on Certain Terms
    
    
    52SECTION 11.02. Successor Entity to be Substituted
    
    
    53SECTION 11.03. Opinion of Counsel to be Given to Trustee
    
    
    54ARTICLE XIISATISFACTION AND DISCHARGE OF INDENTURESECTION 12.01. Discharge of Indenture
    
    
    54SECTION 12.02. Deposited Moneys to be Held in Trust by Trustee
    
    
    54SECTION 12.03. Paying Agent to Repay Moneys Held
    
    
    55SECTION 12.04. Return of Unclaimed Moneys
    
    
    55ARTICLE XIIIIMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORSSECTION 13.01. Indenture and Debt Securities Solely Corporate Obligations
    
    
    55ARTICLE XIVMISCELLANEOUS PROVISIONSSECTION 14.01. Successors
    
    
    56SECTION 14.02. Official Acts by Successor Entity
    
    
    56SECTION 14.03. Surrender of Company Powers
    
    
    56SECTION 14.04. Addresses for Notices, etc
    
    
    56SECTION 14.05. Governing Law
    
    
    57SECTION 14.06. Evidence of Compliance with Conditions Precedent
    
    
    57SECTION 14.07. Non-Business Days
    
    
    57SECTION 14.08. Table of Contents, Headings, etc
    
    
    57SECTION 14.09. Execution in Counterparts
    
    
    58SECTION 14.10. Severability
    
    
    58SECTION 14.11. Assignment
    
    
    58SECTION 14.12. Acknowledgment of Rights
    
    
    58
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TABLE OF CONTENTS
(CONTINUED)
 PageARTICLE XVSUBORDINATION OF DEBT SECURITIESSECTION 15.01. Agreement to Subordinate
    
    
    59SECTION 15.02. Default on Senior Indebtedness
    
    
    59SECTION 15.03. Liquidation; Dissolution; Bankruptcy
    
    
    59SECTION 15.04. Subrogation
    
    
    61SECTION 15.05. Trustee to Effectuate Subordination
    
    
    62SECTION 15.06. Notice by the Company
    
    
    62SECTION 15.07. Rights of the Trustee, Holders of Senior Indebtedness
    
    
    62SECTION 15.08. Subordination May Not Be Impaired
    
    
    63EXHIBITSEXHIBIT A FORM OF DEBT SECURITY
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Definitions




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provided however provided further however
 -2-




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provided
    -5-




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-6-




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pari passu pari passu
      -7-




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Authentication and Dating
   -8-




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Form of Trustees Certificate of Authentication
    ByAuthorized Officer
 Form and Denomination of Debt Securities
  Execution of Debt Securities
   -9-




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Exchange and Registration of Transfer of Debt Securities
        -10-




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-11-




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Mutilated, Destroyed, Lost or Stolen Debt Securities
   -12-




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Temporary Debt Securities
  -13-




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Payment of Interest
   -14-




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Cancellation of Debt Securities Paid, etc.
  Computation of Interest
 provided however
   -15-




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-16-




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Extension of Interest Payment Period
 provided however provided further however provided
 -17-




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CUSIP Numbers
 provided
 Global Debentures
   Article II
 -18-




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-19-




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Payment of Principal, Premium and Interest; Agreed Treatment of the Debt
Securities
    pari passu
 -20-




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Offices for Notices and Payments, etc.
  provided however
 Appointments to Fill Vacancies in Trustees Office
  Provision as to Paying Agent
     -21-




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Certificate to Trustee
  Additional Interest
  -22-




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provided however
 Compliance with Consolidation Provisions
  Limitation on Dividends
 pari passu pari
passu
 -23-




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pari passu
 Covenants as to the Trust
 provided however
   Securityholders Lists
     Preservation and Disclosure of Lists
   -24-




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-25-




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Financial and Other Information.
     Events of Default
      -26-




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ipso facto
  -27-




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Payment of Debt Securities on Default; Suit Therefor
  -28-




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-29-




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Application of Moneys Collected by Trustee
      Proceedings by Securityholders
 provided
  Proceedings by Trustee
  -30-




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Remedies Cumulative and Continuing
  Direction of Proceedings and Waiver of Defaults by Majority of
Securityholders
 provided however ipso facto provided however provided further
 -31-




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Notice of Defaults
 provided
 Undertaking to Pay Costs
  -32-




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Duties and Responsibilities of Trustee
        -33-




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Reliance on Documents, Opinions, etc.
       -34-




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provided however
  No Responsibility for Recitals, etc.
  Trustee, Authenticating Agent, Paying Agents, Transfer Agents or Registrar
May Own Debt Securities
  Moneys to be Held in Trust
  -35-




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Compensation and Expenses of Trustee
    Officers Certificate as Evidence
  -36-




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Eligibility of Trustee
     Resignation or Removal of Trustee, Calculation Agent, Paying Agent or Debt
Security Registrar
    -37-




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Acceptance by Successor
  -38-




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Succession by Merger, etc.
 provided
 provided however
 -39-




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Authenticating Agents
     -40-




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Action by Securityholders
  provided however
 Proof of Execution by Securityholders
  -41-




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Who Are Deemed Absolute Owners
  Debt Securities Owned by Company Deemed Not Outstanding
 provided
 Revocation of Consents; Future Securityholders Bound
  -42-




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Purposes of Meetings
      Call of Meetings by Trustee
  Call of Meetings by Company or Securityholders
  -43-




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Qualifications for Voting
  Regulations
   provided however
 Voting
  -44-




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Quorum; Actions
 provided however
 provided however
  -45-




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Written Consent Without a Meeting
    Supplemental Indentures without Consent of Securityholders
   provided however
 provided
  -46-




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Supplemental Indentures with Consent of Securityholders
 provided however
 -47-




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provided further provided further
    Effect of Supplemental Indentures
  Notation on Debt Securities
  -48-




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Evidence of Compliance of Supplemental Indenture to be furnished to
Trustee
    Optional Redemption
  Special Event Redemption
  Notice of Redemption; Selection of Debt Securities
   -49-




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Payment of Debt Securities Called for Redemption
   -50-




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Company May Consolidate, etc., on Certain Terms
 provided however
 Successor Entity to be Substituted
  -51-




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Opinion of Counsel to be Given to Trustee
    Discharge of Indenture
  -52-




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Deposited Moneys to be Held in Trust by Trustee
  Paying Agent to Repay Moneys Held
  Return of Unclaimed Moneys
  -53-




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Indenture and Debt Securities Solely Corporate Obligations
    Successors
  Official Acts by Successor Entity
  Surrender of Company Powers
  Addresses for Notices, etc.
  -54-




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Governing Law
  Evidence of Compliance with Conditions Precedent
   Non-Business Days
  -55-




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Table of Contents, Headings, etc.
  Execution in Counterparts
  Severability
  Assignment
 provided
 Acknowledgment of Rights
  -56-




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Agreement to Subordinate
    Default on Senior Indebtedness
   Liquidation; Dissolution; Bankruptcy
  -57-




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provided
 -58-




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Subrogation
    Trustee to Effectuate Subordination
  -59-




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Notice by the Company
 provided however
  Rights of the Trustee, Holders of Senior Indebtedness
   -60-




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Subordination May Not Be Impaired
    -61-




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LNB Bancorp, Inc.By:Name:Title:Wells Fargo Bank, National Association, as TrusteeBy:Name:Title:




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FORM OF JUNIOR SUBORDINATED DEBT SECURITY
DUE 2037
 FORM OF FACE OF SECURITY




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provided however
 provided however provided further pari passu pari passu




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pari passu provided




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LNB Bancorp, Inc.By:Name:Title:
  CERTIFICATE OF AUTHENTICATION
  Wells Fargo Bank, National Association, not in itsindividual capacity but solely as the TrusteeBy:Authorized Officer




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pro rata
    ipso facto




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