exv4w1






Exhibit 4.1




 





OLD REPUBLIC INTERNATIONAL CORPORATION




as Issuer



WILMINGTON TRUST COMPANY



as Trustee



Fourth Supplemental Indenture




Dated as of March 8, 2011



Supplemental to Indenture



Dated as of August 15, 1992



3.75% Convertible Senior Notes due 2018




 





 









 





TABLE OF CONTENTS




	 	 	 	 	 
	 	 	Page	 
	ARTICLE 1
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	 	 	 	 
	 
	 	 	 	 
	SECTION 1.01. Scope of Supplemental Indenture
	 	 	2	 
	SECTION 1.02. Definitions
	 	 	2	 
	 
	 	 	 	 
	ARTICLE 2
	THE SECURITIES 	 	 	 	 
	 
	 	 	 	 
	SECTION 2.01. Title and Terms; Payments
	 	 	7	 
	SECTION 2.02. Book-Entry Provisions for Global Notes
	 	 	8	 
	SECTION 2.03. CUSIP Numbers
	 	 	9	 
	SECTION 2.04. Reporting Requirement
	 	 	9	 
	 
	 	 	 	 
	ARTICLE 3
	FUNDAMENTAL CHANGES AND PURCHASES THEREUPON 
	 	 	 	 
	 
	 	 	 	 
	SECTION 3.01. Purchase at Option of Holders Upon a Fundamental Change
	 	 	9	 
	SECTION 3.02. Effect of Fundamental Change Purchase Notice
	 	 	12	 
	SECTION 3.03. Withdrawal of Fundamental Change Purchase Notice
	 	 	12	 
	SECTION 3.04. Deposit of Fundamental Change Purchase Price
	 	 	12	 
	SECTION 3.05. Notes Purchased in Whole or in Part
	 	 	13	 
	SECTION 3.06. Covenant to Comply With Applicable Laws Upon Purchase of Notes
	 	 	13	 
	SECTION 3.07. Repayment to the Company
	 	 	13	 
	 
	 	 	 	 
	ARTICLE 4
	CONVERSION 	 	 	 	 
	 
	 	 	 	 
	SECTION 4.01. Right to Convert
	 	 	13	 
	SECTION 4.02. Conversion Procedures
	 	 	14	 
	SECTION 4.03. Payments Upon Conversion
	 	 	15	 
	SECTION 4.04. Adjustment of Conversion Rate
	 	 	16	 
	SECTION 4.05. Certain Other Adjustments
	 	 	24	 
	SECTION 4.06. Adjustments Upon Certain Fundamental Changes
	 	 	24	 
	SECTION 4.07. Effect of Recapitalization, Reclassification, Consolidation, Merger or Sale
	 	 	26	 
	SECTION 4.08. Taxes on Shares Issued
	 	 	28	 
	SECTION 4.09. Reservation of Shares; Shares to be Fully Paid; Compliance With Governmental Requirements; Listing of Common Stock
	 	 	28	 
	SECTION 4.10. Responsibility of Trustee
	 	 	29	 
	SECTION 4.11. Notice to Holders Prior to Certain Actions
	 	 	29	 
	SECTION 4.12. Stockholder Rights Plan
	 	 	30	 






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	 	 	Page	 
	ARTICLE 5
	REMEDIES
	 
	 	 	 	 
	SECTION 5.01. Events of Default
	 	 	30	 
	SECTION 5.02. Additional Interest
	 	 	31	 
	SECTION 5.03. Acceleration of Maturity; Rescission and Annulment
	 	 	32	 
	 
	 	 	 	 
	ARTICLE 6
	SATISFACTION AND DISCHARGE
	 
	 	 	 	 
	SECTION 6.01. Satisfaction and Discharge of the Supplemental Indenture
	 	 	33	 
	SECTION 6.02. Deposited Monies to Be Held in Trust by Trustee
	 	 	33	 
	SECTION 6.03. Paying Agent to Repay Monies Held
	 	 	34	 
	SECTION 6.04. Return of Unclaimed Monies
	 	 	34	 
	SECTION 6.05. Reinstatement
	 	 	34	 
	 
	 	 	 	 
	ARTICLE 7
	SUPPLEMENTAL INDENTURES
	 
	 	 	 	 
	SECTION 7.01. Amendments or Supplements Without Consent of Holders
	 	 	34	 
	SECTION 7.02. Amendments or Supplements With Consent of Holders
	 	 	34	 
	SECTION 7.03. Notice of Amendments and Supplements
	 	 	35	 
	 
	 	 	 	 
	ARTICLE 8
	INAPPLICABLE PROVISIONS OF THE ORIGINAL INDENTURE
	 
	 	 	 	 
	SECTION 8.01. Limitations on Liens on Stock of Principal Insurance Subsidiaries
	 	 	35	 
	SECTION
8.02. Limitations on Issue or Disposition of Stock of Principal Insurance Subsidiaries
	 	 	35	 
	SECTION 8.03. Prior Indentures Supplemental to Original Indenture Excluded
	 	 	35	 
	SECTION 8.04. Articles Thirteen and Fourteen of Original Indenture
	 	 	35	 
	 
	 	 	 	 
	ARTICLE 9
	MISCELLANEOUS
	 
	 	 	 	 
	SECTION 9.01. Governing Law
	 	 	36	 
	SECTION 9.02. Payments on Business Days
	 	 	36	 
	SECTION 9.03. No Security Interest Created
	 	 	36	 
	SECTION 9.04. Trust Indenture Act
	 	 	36	 
	SECTION 9.05. Benefits of Indenture
	 	 	36	 
	SECTION 9.06. Calculations
	 	 	37	 
	SECTION 9.07. Table of Contents, Headings, Etc
	 	 	37	 
	SECTION 9.08. Execution in Counterparts
	 	 	37	 
	SECTION 9.09. Severability
	 	 	37	 






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EXHIBITS




	 	 	 	 	 
	 	 	Page	 
	Exhibit A Form of Note 
	 	 	A-1	 
	Exhibit B Form of Notice of Conversion 
	 	 	B-1	 
	Exhibit C Form of Fundamental Change Purchase Notice 
	 	 	C-1	 
	Exhibit D Form of Assignment and Transfer
	 	 	D-1	 







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     FOURTH SUPPLEMENTAL INDENTURE, dated as of March 8, 2011, between Old Republic International
Corporation, a Delaware corporation (the “Company,” which term includes any successor Person under
the Indenture hereinafter referred to), and Wilmington Trust Company, a Delaware banking
corporation, as trustee (the “Trustee”) under the Indenture dated as of August 15, 1992, between
the Company and the Trustee (as amended or supplemented from time to time in accordance with the
terms thereof, the “Original Indenture”).



RECITALS OF THE COMPANY




     WHEREAS, the Company executed and delivered the Original Indenture to the Trustee to provide,
among other things, for the issuance, from time to time, of the Company’s unsecured Debt
Securities, in an unlimited aggregate principal amount, in one or more series to be established by
the Company under, and authenticated and delivered as provided in, the Original Indenture;



     WHEREAS, Section 901(5) of the Original Indenture provides for the Company and the Trustee to
enter into an indenture supplemental to the Original Indenture to establish the form and terms of
Debt Securities of any series as contemplated by Sections 201 and 301 of the Original Indenture;



     WHEREAS, the Board of Directors has duly adopted resolutions authorizing the Company to
execute and deliver this Supplemental Indenture;



     WHEREAS, pursuant to the terms of the Original Indenture, the Company desires to establish a
new series of its Debt Securities to be known as its “3.75% Convertible Senior Notes due 2018” (the
“Notes”), the form and substance of such Notes and the terms, provisions and conditions thereof to
be set forth as provided in the Original Indenture and this Supplemental Indenture;



     WHEREAS, the Form of Note, the certificate of authentication to be borne by each Note and the
Form of Notice of Conversion, Form of Fundamental Change Purchase Notice and Form of Assignment and
Transfer contemplated under the terms of the Notes are to be substantially in the forms hereinafter
provided; and



     WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental
Indenture, and all requirements necessary to make (i) this Supplemental Indenture a valid
instrument in accordance with its terms, and (ii) the Notes, when executed by the Company and
authenticated and delivered by the Trustee, the valid obligations of the Company, have been
performed, and the execution and delivery of this Supplemental Indenture have been duly authorized
in all respects.



     NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH, for and in consideration of the
premises and the purchases of the Notes by the Holders thereof, it is mutually agreed, for the
benefit of the Company and the equal and proportionate benefit of all Holders of the Notes, as
follows:



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ARTICLE 1

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION




     SECTION 1.01.Scope of Supplemental Indenture. The changes, modifications and supplements to
the Original Indenture effected by this Supplemental Indenture shall be applicable only with
respect to, and shall only govern the terms of, the Notes, which may be issued from time to time,
and shall not apply to any other Debt Securities that may be issued under the Original Indenture
unless a supplemental indenture with respect to such other Debt Securities specifically
incorporates such changes, modifications and supplements. The provisions of this Supplemental
Indenture shall supersede any corresponding provisions in the Original Indenture.



     SECTION 1.02.Definitions. For all purposes of the Indenture, except as otherwise expressly
provided or unless the context otherwise requires:




     (i) the terms defined in this Article 1 shall have the meanings assigned to them in
this Article and include the plural as well as the singular;




     (ii) all words, terms and phrases defined in the Original Indenture (but not
otherwise defined herein) shall have the same meanings as in the Original Indenture;




     (iii) all other terms used herein that are defined in the Trust Indenture Act,
either directly or by reference therein, shall have the meanings assigned to them in the
Trust Indenture Act;




     (iv) all accounting terms not otherwise defined herein shall have the meanings
assigned to them in accordance with generally accepted accounting principles, and, except as
otherwise herein expressly provided, the term “generally accepted accounting principles”
with respect to any computation required or permitted hereunder shall mean such accounting
principles as are generally accepted at the date of this instrument; and




     (v) the words “herein,” “hereof” and “hereunder” and other words of similar import
refer to this Supplemental Indenture as a whole and not to any particular Article, Section
or other subdivision.



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



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



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



     “Agent Members” has the meaning specified in Section 2.02.



     “Business Day” means, with respect to any Note, any day other than a Saturday, a Sunday or any
other day on which banks or trust companies in The City of New York are authorized or required by
law or executive order to be closed.



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



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



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



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



     “Common Stock” means the shares of common stock, par value $1.00 per share, of the Company as
such shares of common stock exist on the date of this Supplemental Indenture, subject to Section
4.07.



     “Conversion Agent” means the Trustee or such other office or agency designated by the Company
where Notes may be presented for conversion. The Conversion Agent shall initially be the Trustee.



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



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



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



     “Conversion Rate” means, initially, 64.3407 shares of Common Stock per $1,000 principal amount
of Notes, subject to adjustment as set forth herein.



     “Custodian” means the Trustee, as custodian with respect to the Notes (so long as the Notes
constitute Global Notes), or any successor entity.



     “Depositary” means The Depository Trust Company until a successor Depositary shall have become
such pursuant to the applicable provisions of the Indenture, and thereafter “Depositary” shall mean
such successor Depositary.



     “Effective Date” has the meaning specified in Section 4.06(c).



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



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



     “Fundamental Change” will be deemed to have occurred at the time after the Notes are
originally issued if any of the following occurs:




     (1) a “person” or “group” within the meaning of Section 13(d) of the Exchange Act,
other than the Company, its Subsidiaries, and its and their employee benefit plans, has
become the direct or indirect “beneficial owner,” as defined in



3









 






Rule 13d-3 under the Exchange Act, of the Company’s common equity representing more than 50% of the voting
power of the Company’s common equity;




     (2) consummation of (A) any recapitalization, reclassification or change of the
Common Stock (other than changes resulting from a subdivision or combination) as a result of
which recapitalization, reclassification or change of the Common Stock the Common Stock
would be converted into, or exchanged for, stock, other securities, other property or assets
or (B) (i) any share exchange, consolidation or merger of the Company or any other
transaction pursuant to which the Common Stock will be converted into cash, securities or
other property or (ii) any sale, lease or other transfer in one transaction or a series of
transactions of all or substantially all of the consolidated assets of the Company and its
Subsidiaries, taken as a whole, to any Person other than one of the Company’s Subsidiaries;
provided, however, that a transaction where the holders of all classes of the Company’s
common equity immediately prior to such transaction that is a share exchange, consolidation
or merger own, directly or indirectly, more than 50% of all classes of common equity of the
continuing or surviving corporation or transferee or the parent thereof immediately after
such event shall not be a Fundamental Change;




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




     (4) the Common Stock (or other common stock into which the Notes are then
convertible) ceases to be listed or quoted on a national securities exchange in the United
States.


Notwithstanding the foregoing, a Fundamental Change as a result of clause (2) above will not be
deemed to have occurred if at least 90% of the consideration received or to be received by the
holders of the Common Stock, excluding cash payments for fractional shares, in connection with the
transaction or transactions constituting the Fundamental Change consists of Publicly Traded
Securities and as a result of such transaction or transactions the Notes become convertible into
such Publicly Traded Securities, excluding cash payments for fractional shares.




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



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



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



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



     “Global Note” means any registered Note that is in global form.



     “Indenture” means the Original Indenture, as originally executed and as supplemented from time
to time by one or more indentures supplemental thereto, including this Supplemental Indenture,
entered into pursuant to the applicable provisions of the Indenture, including, for all purposes of
this instrument and any such supplemental indenture, the provisions of the Trust



4









 




Indenture Act that are deemed to be a part of and govern the Original Indenture, this
Supplemental Indenture and any other such supplemental indenture, respectively.




     “Initial Dividend Threshold” has the meaning specified in Section 4.04(d)(i).



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



     “Interest Payment Date” means, with respect to the payment of interest on the Notes, each
March 15 and September 15 of each year.



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



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



     “Merger Common Stock” has the meaning specified in Section 4.07(c)(i).



     “Merger Event” has the meaning specified in Section 4.07(a).



     “Merger Valuation Percentage” has the meaning specified in Section 4.07(d)(i).



     “Merger Valuation Period” has the meaning specified in Section 4.07(d)(ii).



     “Note” or “Notes” has the meaning specified in the fourth paragraph of the recitals of this
Supplemental Indenture, and shall include any Additional Notes issued pursuant to Section 2.01
hereof.



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



     “Original Indenture” has the meaning specified in the first paragraph of this Supplemental
Indenture.



     “Paying Agent” has the meaning set forth in the Original Indenture, which shall initially be
the Trustee, and shall be the Person authorized by the Company to pay the principal amount of,
interest on, or Fundamental Change Purchase Price of, any Notes on behalf of the Company.



5









 





     “Physical Notes” means certificated Notes that are not in global form and are registered Notes
issued in denominations of $1,000 principal amount and multiples thereof.



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



     “Publicly Traded Securities” means, in respect of a transaction described in clause (2) of the
definition of Fundamental Change, shares of common stock traded on the New York Stock Exchange, the
NASDAQ Global Market or the NASDAQ Global Select Market (or any or their respective successors) or
which will be so traded when issued or exchanged in connection with a Fundamental Change.



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



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



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



     “Significant Subsidiary” means a “significant subsidiary” as defined in Article 1, Rule
1-02(w) of Regulation S-X under the Securities Act of 1933, as amended.



     “Spin-Off” has the meaning specified in Section 4.04(c).



     “Stated Maturity” means, with respect to any Note and the payment of the principal amount
thereof, March 15, 2018.



     “Stock Price” has the meaning specified in Section 4.06(c).



     “Trading Day” means a day on which (i) trading in the Common Stock generally occurs on the New
York Stock Exchange or, if the Common Stock is not then listed on the New York Stock Exchange, on
the principal other United States national or regional securities exchange on which the Common
Stock is then listed or, if the Common Stock is not then listed on a United States national or
regional securities exchange, in the principal other market on which the Common Stock is then
traded, and (ii) a Last Reported Sale Price for the Common Stock is available on such securities
exchange or market. If the Common Stock (or other security for which a closing sale price must be
determined) is not so listed or traded, “Trading Day” means a Business Day.



     “Trigger Event” has the meaning specified in Section 4.04(c).



     “Underwriters” means the underwriters named in the Underwriting Agreement.



6









 






     “Underwriting Agreement” means the Underwriting Agreement, dated March 2, 2011, entered into
by the Company and the Underwriters in connection with the sale of the Notes.



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



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



ARTICLE 2

THE SECURITIES




     SECTION 2.01. Title and Terms; Payments. There is hereby established a series of Debt
Securities designated the “3.75% Convertible Senior Notes due 2018” initially limited in aggregate
principal amount to $500,000,000 (or up to $550,000,000 aggregate principal amount if the
Underwriters exercise their over-allotment option in full) , which amount shall be as set forth in
a Company Order for the authentication and delivery of Notes pursuant to Section 303 of the
Original Indenture.



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



     The Company may, without the consent of the Holders of the Notes, hereafter issue additional
notes (“Additional Notes”) under the Indenture with the same terms and with the same CUSIP number
as the Notes issued on the date of this Supplemental Indenture (the
“Initial Notes”) in an
unlimited aggregate principal amount; provided that such Additional Notes must be part of the same
issue as the Initial Notes for federal income tax purposes. Any such Additional Notes shall
constitute a single series together with the Initial Notes for all purposes hereunder, including,
without limitation, for purposes of any waivers, supplements or amendments to the Indenture
requiring the approval of Holders of the Notes and any offers to purchase the Notes.



     The Form of Note, the Form of Notice of Conversion, the Form of Fundamental Change Purchase
Notice and the Form of Assignment and Transfer shall be substantially as set forth in Exhibits A,
B, C and D, respectively, hereto, which are incorporated into and shall be deemed a part of this
Supplemental Indenture, in each case with such appropriate insertions, omissions, substitutions and
other variations as are required or permitted by the Indenture, and may have such letters, numbers
or other marks of identification and such legends or endorsements placed thereon as may be required
to comply with the rules of any securities exchange or as may, consistently herewith, be determined
to be necessary or appropriate by the officers of the Company executing such Notes, as evidenced by
their execution of the Notes.



     The Company shall pay the principal of and interest on any Global Note in immediately
available funds to the Depositary or its nominee, as the case may be, as the registered Holder of
such Global Note and shall make all such payments in accordance with the procedures of the
Depositary.



     The Company shall pay the principal of any Physical Notes at the office or agency designated
by the Company for that purpose. The Company has initially designated the Trustee as its Paying
Agent and Debt Security Registrar in respect of the Notes and its agency in New York, New York as a
place where Notes may be presented for payment or for registration of



7









 




transfer. The Company may, however, change the Paying Agent or Debt Security Registrar for the
Notes without prior notice to the Holders thereof, and the Company may act as Paying Agent or Debt
Security Registrar for the Notes. Interest on any Physical Notes will be payable (i) to Holders of
Physical Notes having an aggregate principal amount of Notes of $5,000,000 or less, by check mailed
to the Holders of such Notes at their address in the Debt Security Register and (ii) to Holders
having an aggregate principal amount of Physical Notes in excess of $5,000,000, either by check
mailed to each Holder at its address in the Debt Security Register or, upon application by a Holder
to the Debt Security Registrar not later than the relevant Regular Record Date, by wire transfer in
immediately available funds to that Holder’s account within the United States, which application
shall remain in effect until that Holder notifies, in writing, the Registrar to the contrary.




     SECTION 2.02. Book-Entry Provisions for Global Notes. (a) The Notes initially shall be
issued in the form of one or more Global Notes without interest coupons (i) registered in the name
of Cede & Co., as nominee of the Depositary and (ii) delivered to the Trustee as custodian for the
Depositary.



     Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under
this Supplemental Indenture or the Original Indenture with respect to any Global Note held on their
behalf by the Depositary, or the Trustee as its custodian, or under the Global Note, and Cede &
Co., or such other Person designated by the Depositary as its nominee, may be treated by the
Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of the
Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall
prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to
any written certification, proxy or other authorization furnished by the Depositary or impair, as
between the Depositary and its Agent Members, the operation of customary practices governing the
exercise of the rights of any Holder.



     (b) Transfers of Global Notes shall be limited to transfers in whole, but not in part, to
the Depositary, its successors or their respective nominees. Interests of beneficial owners in a
Global Note may be transferred or exchanged, in whole or in part, for Physical Notes, only if: (i)
the Depositary notifies the Company at any time that it is unwilling or unable to continue in its
capacity as Depositary for the Notes, or the Depositary ceases to be registered as a clearing
agency under the Exchange Act, and, in either case, a successor Depositary is not appointed within
60 days or (ii) if an Event of Default with respect to the Notes has occurred and is continuing, in
each case in accordance with the rules and procedures of the Depositary. Other than as set forth in
this Section 2.02(b), the Notes shall remain in global form as Global Notes.



     (c) In connection with any transfer or exchange of a portion of the beneficial interest in
the Global Note to beneficial owners pursuant to Section 2.02(b), the Debt Security Registrar shall
(if one or more Physical Notes are to be issued) reflect on its books and records the date and a
decrease in the principal amount of the Global Note in an amount equal to the principal amount of
the beneficial interest in the Global Note to be transferred, and the Company shall execute, and
the Trustee shall authenticate and deliver, one or more Physical Notes of like tenor and amount.
In connection with the transfer of the entire Global Note to beneficial owners pursuant to Section
2.02(b), the Global Note shall be deemed to be surrendered to the Trustee for cancellation, and the
Company shall execute, and the Trustee shall authenticate and deliver, to



8









 




each beneficial owner identified by the Depositary in exchange for its beneficial interest in
the Global Note, an equal aggregate principal amount of Physical Notes of authorized denominations
and the same tenor.




     (d) Physical Notes issued in exchange for a Global Note pursuant to this Section 2.02
shall be registered in such names and in such authorized denominations as the Depositary for such
Global Note, pursuant to instructions from its direct or indirect participants or otherwise, shall
instruct the Trustee or an agent of the Company or the Trustee. The Trustee or such agent shall
deliver such Physical Notes to or as directed by the Persons in whose names such Physical Notes are
so registered.



     (e) The Holder of Global Notes 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 a Holder is entitled to take under this Supplemental Indenture, Original Indenture or
the Notes.



     SECTION 2.03.CUSIP Numbers. In issuing the Notes, the Company may use “CUSIP” numbers (if
then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption
as a convenience to Holders of the Notes; provided that any such notice may state that no
representation is made as to the correctness of such numbers as printed on the Notes and that
reliance may be placed only on the other identification numbers printed on the Notes, and any such
redemption shall not be affected by any defect in or omission of such numbers. The Company will
promptly notify the Trustee of any change in the “CUSIP” numbers of the Notes.



     SECTION 2.04.Reporting Requirement. The Company shall deliver to the Trustee within 15 days
after the same is required to be filed with the Commission, copies of the quarterly and annual
reports and of the information, documents and other reports, if any, that the Company is required
to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act (giving effect to
any grace period provided by Rule 12b-25 under the Exchange Act), and the Company shall otherwise
comply with the requirements of Trust Indenture Act Section 314(a). The Trustee agrees that any
quarterly or annual report or other information, document or other report that the Company files
with the Commission pursuant to Section 13 or 15(d) of the Exchange Act on the Commission’s EDGAR
system shall constitute delivery of the same to the Trustee. The Trustee does not have the duty to
review such information, documents or reports, is not considered to have notice of the content of
such information, documents or reports and does not have a duty to verify the accuracy of such
information, documents or reports.



ARTICLE 3

FUNDAMENTAL CHANGES AND PURCHASES THEREUPON




     SECTION 3.01. Purchase at Option of Holders Upon a Fundamental Change. (a)Generally. If a
Fundamental Change occurs at any time, then each Holder of Notes shall have the right, at such
Holder’s option, to require the Company to purchase for cash any or all of such Holder’s Notes, or
any portion of the principal amount thereof, that is equal to $1,000 or a multiple of $1,000, on a
date specified by the Company that is no earlier than the 20th calendar day following the date of,
and no later than the 35th calendar day following the date of, delivery of the Fundamental Change
Company Notice (as defined below) (the “Fundamental Change



9









 




Purchase Date”), at a purchase price equal to 100% of the principal amount thereof, together
with accrued and unpaid interest thereon to, but excluding, the Fundamental Change Purchase Date
(the “Fundamental Change Purchase Price”); provided, however, that if a Fundamental Change Purchase
Date is after a Regular Record Date and on or prior to the Interest Payment Date to which such
Regular Record Date relates, the interest payable in respect of such Interest Payment Date shall be
payable to the Holders of record as of the corresponding Regular Record Date and the Fundamental
Change Purchase Price shall be equal to 100% of the principal amount of the Notes to be purchased
pursuant to this Article 3. The requirement for the Company to purchase any Notes on the
Fundamental Change Purchase Date will be subject to extension to comply with applicable law.




     Purchases of Notes under this Section 3.01 shall be made, at the option of the Holder thereof,
upon:




     (i) delivery to the Paying Agent by a Holder of a duly completed notice (the
“Fundamental Change Purchase Notice”) in the form set forth on the reverse of the Note as
Exhibit C thereto, if the Notes are Physical Notes, or in compliance with the Depositary’s
procedures for tendering interests in Global Notes, if the Notes are not Physical Notes, in
each case prior to the close of business on the Business Day immediately preceding the
Fundamental Change Purchase Date ; and




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



     The Fundamental Change Purchase Notice in respect of any Notes to be purchased shall state:




     (i) if such Notes are Physical Notes, the certificate numbers of such Notes;




     (ii) the portion of the principal amount of such Notes, which must be $1,000 or a
multiple thereof; and




     (iii) that such Notes are to be purchased by the Company pursuant to the applicable
provisions of the Notes and this Supplemental Indenture;


provided, however, that if such Notes are in global form, the Fundamental Change Purchase Notice
must also comply with appropriate procedures of the Depositary.




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



10









 





     The Paying Agent shall promptly notify the Company of the receipt by it of any Fundamental
Change Purchase Notice or written notice of withdrawal thereof.



     (b) Fundamental Change Company Notice. On or before the 20th calendar day after the
occurrence of a Fundamental Change, the Company shall provide to all Holders of record of the
Notes, the Trustee and the Paying Agent (in the case of any Paying Agent other than the Trustee) a
notice (the “Fundamental Change Company Notice”) of the occurrence of such Fundamental Change and
of the purchase right at the option of the Holders arising as a result thereof. Such notice shall
be sent by first class mail or, in the case of any Global Notes, in accordance with the procedures
of the Depositary for providing notices. Simultaneously with providing such Fundamental Change
Company Notice, the Company shall publish a notice containing the information included therein in a
newspaper of general circulation in The City of New York or shall publish such information on the
Company’s website or through such other public medium as the Company may use at such time.



     Each Fundamental Change Company Notice shall specify:




     (i) the events causing a Fundamental Change;




     (ii) the date of the Fundamental Change;




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




     (iv) the Fundamental Change Purchase Price;




     (v) the Fundamental Change Purchase Date;




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




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




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




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



     No failure of the Company to give the foregoing notices and no defect therein shall limit the
purchase rights of the Holders of Notes or affect the validity of the proceedings for the purchase
of the Notes pursuant to this Section 3.01.



     (c) No Payment During Events of Default. There shall be no purchase of any Notes pursuant
to this Section 3.01 if there has occurred and is continuing an Event of Default with



11









 




respect to the Notes (other than an Event of Default that is cured by the payment of the
Fundamental Change Purchase Price of the Notes). The Paying Agent will promptly return to the
respective Holders thereof any Physical Notes held by it during the continuance of an Event of
Default (other than an Event of Default that is cured by the payment of the Fundamental Change
Purchase Price with respect to the Notes) and shall deem canceled any instructions for book-entry
transfer of the Notes in compliance with the procedures of the Depositary, in which case, upon such
return and cancellation, the Fundamental Change Purchase Notice with respect thereto shall be
deemed to have been withdrawn.




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



     SECTION 3.03. Withdrawal of Fundamental Change Purchase Notice. A Fundamental Change
Purchase Notice may be withdrawn (in whole or in part) by means of a written notice of withdrawal
delivered to the Paying Agent in accordance with the Fundamental Change Company Notice at any time
prior to the close of business on the Business Day immediately preceding the Fundamental Change
Purchase Date, specifying:




     (i) the principal amount of the Notes with respect to which such notice of
withdrawal is being submitted;




     (ii) if Physical Notes have been issued, the certificate numbers of the withdrawn
Notes; and




     (iii) the principal amount, if any, of such Notes that remains subject to the
original Fundamental Change Purchase Notice, which portion must be in principal amounts of
$1,000 or a multiple of $1,000;


provided, however, that if Physical Notes have not been issued, the notice must comply with
appropriate procedures of the Depositary.




     The Paying Agent will promptly return to the respective Holders thereof any Physical Notes
with respect to which a Fundamental Change Purchase Notice has been withdrawn in compliance with
the provisions of this Section 3.03.



     SECTION 3.04. Deposit of Fundamental Change Purchase Price. Prior to 11:00 a.m. (local time
in The City of New York) on the Fundamental Change Purchase Date, the Company shall deposit with
the Paying Agent (or, if the Company or a Subsidiary or an Affiliate of either of them is acting as
the Paying Agent, shall segregate and hold in trust as provided herein) an



12









 




amount of money (in immediately available funds if deposited on such Business Day) sufficient
to pay the Fundamental Change Purchase Price of all the Notes or portions thereof that are to be
purchased as of the Fundamental Change Purchase Date. If the Paying Agent holds cash sufficient to
pay the Fundamental Change Purchase Price of the Notes for which a Fundamental Change Purchase
Notice has been tendered and not withdrawn in accordance with this Supplemental Indenture on the
Fundamental Change Purchase Date, then as of such Fundamental Change Purchase Date, (a) such Notes
will cease to be outstanding and interest will cease to accrue thereon (whether or not book-entry
transfer of such Notes is made or such Notes have been delivered to the Paying Agent) and (b) all
other rights of the Holders in respect thereof will terminate (other than the right to receive the
Fundamental Change Purchase Price and previously accrued and unpaid interest upon delivery or
book-entry transfer of such Notes).




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



     SECTION 3.06. Covenant to Comply With Applicable Laws Upon Purchase of Notes. In connection
with any offer to purchase Notes under Section 3.01 hereof, the Company shall, in each case if
required, (i) comply with Rule 13e-4, Rule 14e-1 and any other tender offer rules under the
Exchange Act that may then be applicable, (ii) file a Schedule TO or any other required schedule
under the Exchange Act and (iii) otherwise comply with all federal and state securities laws so as
to permit the rights and obligations under Section 3.01 to be exercised in the time and in the
manner specified in Section 3.01.



     SECTION 3.07. Repayment to the Company. To the extent that the aggregate amount of cash
deposited by the Company pursuant to Section 3.04 exceeds the aggregate Fundamental Change Purchase
Price of the Notes or portions thereof that the Company is obligated to purchase as of the
Fundamental Change Purchase Date, then, following the Fundamental Change Purchase Date, the Paying
Agent shall promptly return any such excess to the Company.



ARTICLE 4

CONVERSION




     SECTION 4.01. Right to Convert. (a) Subject to and upon compliance with the provisions of
this Supplemental Indenture, each Holder of Notes shall have the right, at such Holder’s option, to
convert the principal amount of any such Notes, or any portion of such principal amount equal to
$1,000 or a multiple of $1,000 thereof, at the Conversion Rate in effect on the Conversion Date for
such Notes, at any time prior to the close of business on the second Scheduled Trading Day
immediately preceding March 15, 2018.



13









 





     (b) Notes may not be converted after the close of business on the second Scheduled Trading
Day immediately preceding March 15, 2018.



     SECTION 4.02. Conversion Procedures. (a) Each Note shall be convertible at the office of
the Conversion Agent and, if applicable, in accordance with the procedures of the Depositary.



     (b) In order to exercise the conversion privilege with respect to any interest in a Global
Note, the Holder must complete the appropriate instruction form for conversion pursuant to the
Depositary’s book-entry conversion program, furnish appropriate endorsements and transfer documents
if required by the Company or the Conversion Agent, and pay the funds, if any, required by Section
4.03(c) and any taxes or duties if required pursuant to Section 4.08, and the Conversion Agent must
be informed of the conversion in accordance with the customary practice of the Depositary. In order
to exercise the conversion privilege with respect to any Physical Notes, the Holder of any such
Notes to be converted, in whole or in part, shall:




     (i) complete and manually sign the conversion notice provided on the back of the
Note (the “Conversion Notice“) or a facsimile of the Conversion Notice;




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




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




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




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


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




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



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



     Each conversion shall be deemed to have been effected as to any such Notes (or portion
thereof) surrendered for conversion on the relevant Conversion Date. The person in whose name the
certificate or certificates for the number of shares of Common Stock that shall be issuable



14









 




upon such conversion shall become the Holder of record of such shares of Common Stock as of
the close of business on the related Conversion Date.




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



     (f) Notwithstanding the foregoing, a Note in respect of which a Holder has delivered a
Fundamental Change Purchase Notice exercising such Holder’s option to require the Company to
purchase such Note may be converted only if such notice of exercise is withdrawn in accordance with
Article 3 hereof prior to the close of business on the Business Day prior to the relevant
Fundamental Change Purchase Date.



     SECTION 4.03. Payments Upon Conversion. (a) Upon any conversion of any Notes, on the third
Business Day immediately following the Conversion Date, the Company shall deliver to the converting
Holder a number of shares of Common Stock equal to (i) the aggregate principal amount of such Notes
to be converted divided by $1,000, multiplied by (ii) the Conversion Rate in effect as of such
Conversion Date, together with any cash payment for any fractional share of Common Stock as
described in this Section 4.03.



     (b) Subject to Section 4.03(c) below, upon conversion, Holders shall not receive any
separate cash payment for accrued and unpaid interest unless such conversion occurs between a
Regular Record Date and the Interest Payment Date to which it relates.



     (c) Upon the conversion of any Notes, the Holder will not be entitled to receive any
separate cash payment for accrued and unpaid interest except to the extent specified below. The
Company’s delivery to the Holder of cash or a combination of cash and Common Stock, if applicable,
together with any cash payment for any fractional share of Common Stock, into which a Note is
convertible will be deemed to satisfy in full the Company’s obligation to pay the principal amount
of the Notes so converted and accrued and unpaid interest to, but not including, the Conversion
Date. As a result, accrued and unpaid interest to, but not including, the Conversion Date will be
deemed to be paid in full rather than cancelled, extinguished or forfeited. Notwithstanding the
foregoing, if Notes are converted after the close of business on a Regular Record Date for the
payment of interest, Holders of such Notes at the close of business on such Regular Record Date
will receive the interest payable on such Notes on the corresponding Interest Payment Date
notwithstanding the conversion. Notes surrendered for conversion during the period from the close
of business on any Regular Record Date to the open of business on the immediately following
Interest Payment Date must be accompanied by funds equal to the amount of interest payable on the
Notes so converted; provided that no such payment need be made (i) for conversions following the
Regular Record Date immediately preceding March 15, 2018, (ii) if the Company has specified a
Fundamental Change Purchase Date that is after a Regular Record Date and on or prior to the
corresponding Interest Payment Date, or (iii) to the extent of any overdue interest, if any overdue
interest exists at the time of conversion with respect to such Note.



15









 





     (d) The Company shall not issue fractional shares of Common Stock upon conversion of
Notes. If multiple Notes shall be surrendered for conversion at one time by the same Holder, the
number of full shares which shall be issuable upon conversion shall be computed on the basis of the
aggregate principal amount of the Notes (or specified portions thereof to the extent permitted
hereby) so surrendered. If any fractional share of stock would be issuable upon the conversion of
any Notes, the Company shall make payment therefor in cash in lieu of fractional shares of Common
Stock based on the Last Reported Sale Price on the related Conversion Date.



     SECTION 4.04. Adjustment of Conversion Rate. The Conversion Rate shall be adjusted from time
to time by the Company if any of the following events occurs, except that the Company will not make
any adjustment to the Conversion Rate if Holders of Notes participate, as a result of holding the
Notes, in any of the transactions described under Section 4.04(a) (but only with respect to stock
dividends or distributions), Section 4.04(b), Section 4.04(c), and Section 4.04(d), at the same
time as holders of the Common Stock participate, without having to convert their Notes, as if such
Holders held a number of shares of Common Stock equal to the Conversion Rate in effect for such
Notes immediately prior to the Ex-Dividend Date for such event.



     (a) If the Company, at any time or from time to time while any of the Notes are
outstanding, exclusively issues shares of its Common Stock as a dividend or distribution on shares
of Common Stock, or if the Company effects a share split or share combination, then the Conversion
Rate 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 such effective
date;
	 
	 	 
	OS0 =

	 	the number of shares of Common Stock outstanding
immediately prior to the open of business on such
Ex-Dividend Date or such effective date; and
	 
	 	 
	OS1 =

	 	the number of shares of Common Stock outstanding
immediately after giving effect to such dividend,
distribution, share split or share combination.





Such adjustment shall become effective immediately after the open of business on the Ex-Dividend
Date for such dividend or distribution or the effective date for such share split or share
combination. If any dividend or distribution of the type described in this Section 4.04(a) is
declared but not so paid or made, the Conversion Rate shall again be adjusted to the Conversion
Rate which would then be in effect if such dividend or distribution had not been declared.







16









 








     (b) If the Company, at any time or from time to time while any of the Notes are
outstanding, issues to all or substantially all holders of the Common Stock any rights or warrants
entitling them for a period of not more than 60 calendar days after the announcement 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 Common Stock for the 10 consecutive Trading-Day period
ending on the Trading Day immediately preceding the date of announcement of such issuance, the
Conversion Rate shall be adjusted 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 or warrants; and
	 
	 	 
	Y =

	 	the number of shares of Common Stock equal to the
aggregate price payable to exercise such rights or
warrants divided by the average of the Last Reported Sale
Prices of the Common Stock over the 10 consecutive
Trading Day period ending on the Trading Day immediately
preceding the date of announcement of the issuance of
such rights or warrants.





To the extent such rights or warrants are not exercised prior to their expiration or termination,
the Conversion Rate shall be readjusted to the Conversion Rate which would be in effect had the
adjustments made upon the issuance of such rights or warrants been made on the basis of the
delivery of only the number of shares of Common Stock actually delivered. In the event that such
rights or warrants are not so issued, the Conversion Rate shall again be adjusted to be the
Conversion Rate which would then be in effect if the date fixed for the determination of
shareholders entitled to receive such rights or warrants had not been fixed. For the purposes of
this Section 4.04(b), in determining whether any rights or warrants entitle the holders to
subscribe for or purchase shares of Common Stock at less than the average of the Last Reported Sale
Prices of Common Stock for the 10 consecutive Trading Day period ending on the Trading Day
immediately preceding the date of announcement of such issuance, and in determining the aggregate
exercise price payable for such shares of Common Stock, there shall be taken into account any
consideration received by the Company for such rights or warrants and any amount payable on the
exercise thereof, with the value of such consideration, if other than cash, as shall be determined
in good faith by the Board of Directors.







17









 








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




     (i) dividends or distributions and rights or warrants as to which an adjustment was
effected pursuant to Section 4.04(a) or Section 4.04(b);




     (ii) dividends or distributions paid exclusively in cash; and




     (iii) Spin-Offs to which the provisions set forth below in this Section 4.04(c)
shall apply;


then the Conversion Rate shall be adjusted based on the following formula:




	 	 	 	 	 

	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 the Trading Day
immediately preceding the Ex-Dividend Date for such distribution; and
	 
	 	 
	FMV=

	 	the fair market value (as determined by the Board of
Directors) of the shares of capital stock, evidences
of indebtedness, assets, property, rights or warrants
distributed with respect to each outstanding share of
the Common Stock on the Ex-Dividend Date for such
distribution.





Such adjustment shall become effective immediately after the open of business on the Ex-Dividend
Date for such distribution. If the Board of Directors determines the “FMV” (as defined above) of
any distribution for purposes of this Section 4.04(c) by reference to the actual or when issued
trading market for any securities, it must in doing so consider the prices in such market over the
same period used in computing the average of the Last Reported Sale Prices of the Common Stock.
Notwithstanding the foregoing, if “FMV” (as defined above) is equal to or greater than
“SP0” (as defined above), in lieu of the foregoing adjustment, each Holder of Notes
shall receive, at the same time and upon the same terms as holders of the Common Stock, the amount
and kind of securities and assets such Holder would have received as if such Holder owned a number
of shares of Common Stock equal to the Conversion Rate in effect on the record date for the
distribution of the securities or assets.







18









 








     With respect to an adjustment pursuant to this Section 4.04(c) where there has been a payment
of a dividend or other distribution on the Common Stock of shares of capital stock of any class or
series, or similar equity interest, of or relating to a Subsidiary or other business unit and such
shares of capital stock or similar equity interests are listed for trading on a securities exchange
(a “Spin-Off”), the Conversion Rate shall be increased based on the following formula:



	 	 	 	 	 

	CR1 = CR0 x

	 	FMV0 + MP0	 	 
	 

	 	 

MP0
	 	 





where,




	 	 	 

	CR0 =

	 	the Conversion Rate in effect immediately prior to the end of the Valuation Period (as defined below);
	 
	 	 
	CR1 =

	 	the Conversion Rate in effect immediately after the end of the Valuation Period;
	 
	 	 
	FMV0 =

	 	the average of the Last Reported Sale Prices of the capital stock or similar equity interest distributed to holders
of Common Stock applicable to one share of Common Stock (determined for purposes of the definition of Last Reported Sale Price as if
such capital stock or similar equity interest were the Common Stock) over the first ten consecutive Trading Day period after, and
including, the Ex-Dividend Date of the Spin-Off (the “Valuation Period”); and
	 
	 	 
	MP0 =

	 	the average of the Last Reported Sale Prices of Common Stock over the Valuation Period.






     The adjustment to the Conversion Rate under the preceding paragraph will occur on the last day
of the Valuation Period; provided that in respect of any conversion during the Valuation Period,
references above to ten Trading Days shall be deemed replaced with such lesser number of Trading
Days as have elapsed between the Ex-Dividend Date of such Spin-Off and the Conversion Date in
determining the applicable Conversion Rate.



     For the purposes of this Section 4.04(c) (and subject in all respects to Section 4.11), rights
or warrants distributed by the Company to all holders of its Common Stock entitling them to
subscribe for or purchase shares of the Company’s capital stock (either initially or under certain
circumstances), which rights or warrants, until the occurrence of a specified event or events (a
“Trigger Event”): (1) are deemed to be transferred with such shares of Common Stock; (2) are not
exercisable; and (3) are also issued in respect of future issuances of Common Stock, shall be
deemed not to have been distributed for purposes of this Section 4.04(c), (and no adjustment to the
Conversion Rate under this Section 4.04(c) will be required) until the occurrence of the earliest
Trigger Event, whereupon such rights and warrants shall be deemed to have been distributed and an
appropriate adjustment (if any is required) to the Conversion Rate shall be made under this Section
4.04(c). If any such right or warrant, including any such existing rights or warrants distributed
prior to the date of this Supplemental Indenture, are subject to events, upon the occurrence of
which such rights or warrants become exercisable to



19









 




purchase different securities, evidences of indebtedness or other assets, then the date of the
occurrence of any and each such event shall be deemed to be the date of distribution and
Ex-Dividend Date of such deemed distribution (in which case the original rights or warrants shall
be deemed to terminate and expire on such date without exercise by any of the holders). In
addition, in the event of any distribution or deemed distribution of rights or warrants, or any
Trigger Event or other event (of the type described in the preceding sentence) with respect thereto
that was counted for purposes of calculating a distribution amount for which an adjustment to the
Conversion Rate under this Section 4.04(c) was made, (1) in the case of any such rights or warrants
which shall all have been redeemed or purchased without exercise by any Holders thereof, upon such
final redemption or repurchase (x) the Conversion Rate shall be readjusted as if such rights or
warrants had not been issued and (y) the Conversion Rate shall then again be readjusted to give
effect to such distribution, deemed distribution or Trigger Event, as the case may be, as though it
were a cash distribution, equal to the per share redemption or purchase price received by holders
of Common Stock with respect to such rights or warrants (assuming each such holder had retained
such rights or warrants), made to all holders of Common Stock as of the date of such redemption or
purchase, and (2) in the case of such rights or warrants which shall have expired or been
terminated without exercise by any holders thereof, the Conversion Rate shall be readjusted as if
such rights and warrants had not been issued.




     For the purposes of this Section 4.04(c) and subsections (a) and (b) of this Section 4.04, any
dividend or distribution to which this Section 4.04(c) applies which also includes one or both of:




	 	(A)	 	a dividend or distribution of shares of Common Stock to
which Section 4.04(a) applies (the “Clause A Distribution”), and






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




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




     (d) (i) If any regular, quarterly cash dividend or distribution made to all or substantially
all holders of Common Stock during any quarterly fiscal period exceeds $0.1750 (the “Initial
Dividend Threshold”), the Conversion Rate shall be adjusted based on the following formula:



20









 





	 	 	 	 	 

	CR1 = CR0 x

	 	SP0	 	 
	 

	 	 

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; and
	 
	 	 
	C =

	 	the amount in cash per share the Company distributes to
holders of the Common Stock in excess of the Initial
Dividend Threshold.





The Initial Dividend Threshold shall be adjusted in a manner inversely proportional to adjustments
to the Conversion Rate; provided that no adjustment shall be made to the Initial Dividend Threshold
for any adjustment made to the Conversion Rate pursuant to clause (i) or (ii) of this Section
4.04(d).




     (ii) If the Company pays any cash dividend or distribution that is not a regular,
quarterly cash dividend or distribution to all or substantially all holders of Common Stock, the
Conversion Rate shall be adjusted based on the following formula:



	 	 	 	 	 

	CR1 =

	 	CR0 x SP0	 	 
	 

	 	 

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; and
	 
	 	 
	C =

	 	the amount in cash per share the Company distributes to holders of Common Stock.





In the case of an adjustment pursuant to this Section 4.04(d), such adjustment shall become
effective immediately after the open of business on the Ex-Dividend Date for the relevant dividend
or distribution. If the portion of the cash so distributed applicable to one share of the Common
Stock is equal to or greater than the Last Reported Sale Price of a share of Common Stock on the
Trading Day immediately preceding the Ex-Dividend Date for such dividend or






21









 







distribution, in lieu of the adjustment set forth above, adequate provision shall be made so that
each Holder of Notes shall have the right to receive on the date on which such cash dividend or
distribution is distributed to holders of Common Stock, for each $1,000 principal amount of Notes,
the amount of cash such Holder would have received had such Holder owned a number of shares of
Common Stock equal to the Conversion Rate in effect immediately prior to the Ex-Dividend Date for
such distribution.




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



	 	 	 	 	 

	CR1 = CR0 x

	 	AC + (SP1 x OS1)	 	 
	 

	 	 

OS0 x SP1
	 	 





where,




	 	 	 

	CR0 =

	 	the Conversion Rate in effect immediately prior to the
close of business on the 10th Trading Day immediately
following, and including, the Trading Day next succeeding
the date such tender or exchange offer expires;
	 
	 	 
	CR1 =

	 	the Conversion Rate in effect immediately after the close
of business on the 10th Trading Day immediately
following, and including, the Trading Day next succeeding
the date such tender or exchange offer expires;
	 
	 	 
	AC =

	 	the aggregate value of all cash and any other
consideration (as determined by the Board of Directors)
paid or payable for shares purchased in such tender or
exchange offer;
	 
	 	 
	OS0 =

	 	the number of shares of Common Stock outstanding
immediately prior to the date such tender or exchange
offer expires;
	 
	 	 
	OS1 =

	 	the number of shares of Common Stock outstanding
immediately after the date such tender or exchange offer
expires (after giving effect to, for the avoidance of
doubt, the purchase of all shares accepted for purchase
or exchange in such tender or exchange offer); and
	 
	 	 
	SP1 =

	 	the average of the Last Reported Sale Prices of the
Common Stock over the 10 consecutive Trading Day period
commencing on the Trading Day next succeeding the date
such tender or exchange offer expires.





The adjustment to the Conversion Rate under this Section 4.04(e) shall occur as of the close of
business on the tenth Trading Day from, and including, the Trading Day next succeeding the date
such tender or exchange offer expires; provided that in respect of any conversion within 10 Trading
Days immediately following, and including, the expiration date of any tender or






22









 







exchange offer, references with respect to 10 Trading Days shall be deemed replaced with such
lesser number of Trading Days as have elapsed between the expiration date of such tender or
exchange offer and the Conversion Date in determining the applicable Conversion Rate.




     (f) The Company from time to time may increase the Conversion Rate by any amount for any
period of time of at least 20 Business Days, so long as the increase is irrevocable during the
period and the Board of Directors shall have made a determination that such increase would be in
the best interests of the Company, which determination shall be conclusive. Whenever the Conversion
Rate is increased pursuant to this Section 4.04(f), the Company shall mail to Holders of record of
the Notes a notice of the increase at least one day prior to the date the increased Conversion Rate
takes effect, and such notice shall state the increased Conversion Rate and the period during which
it will be in effect.



     (g) The Company may (but shall not be required to) increase the Conversion Rate, in
addition to any adjustments pursuant to Section 4.04(a), 4.04(b), 4.04(c), 4.04(d), 4.04(e) or
4.04(f), if the Board of Directors considers such increase to be advisable to avoid or diminish any
income tax to holders of Common Stock or rights to purchase Common Stock in connection with a
dividend or distribution of shares (or rights to acquire shares) or similar event.



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



     (i) Whenever the Conversion Rate is adjusted as herein provided, the Company shall
promptly file with the Trustee and any Conversion Agent an Officers’ Certificate setting forth the
Conversion Rate after such adjustment and setting forth a brief statement of the facts requiring
such adjustment. Unless and until a Responsible Officer of the Trustee shall have received such
Officers’ Certificate, the Trustee shall not be deemed to have knowledge of any adjustment of the
Conversion Rate and may assume without inquiry that the last Conversion Rate of which it has
knowledge is still in effect. Promptly after delivery of such certificate, the Company shall
prepare a notice of such adjustment of the Conversion Rate setting forth the adjusted Conversion
Rate and the date on which each adjustment becomes effective and shall mail such notice of such
adjustment of the Conversion Rate to each Holder of the Notes. Failure to deliver such notice shall
not affect the legality or validity of any such adjustment.



     (j) For purposes of this Section 4.04, the number of shares of Common Stock at any time
outstanding shall not include shares held in the treasury of the Company so long as the Company
does not pay any dividend or make any distribution on shares of Common Stock held in the treasury
of the Company, but shall include shares issuable in respect of scrip certificates issued in lieu
of fractions of shares of Common Stock.



23









 





     (k) Notwithstanding the foregoing, if the application of the foregoing formulas set forth
in this Section 4.04 would result in a decrease in the Conversion Rate, no adjustment to the
Conversion Rate shall be made (other than as a result of a share combination).



     (l) Notwithstanding anything to the contrary in this Article 4, no adjustment to the
Conversion Rate shall be made:




     (i) upon the issuance of any shares of Common Stock pursuant to any present or
future plan providing for the reinvestment of dividends or interest payable on the Company’s
securities and the investment of additional optional amounts in shares of Common Stock under
any plan;




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




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




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




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



     (m) The Company shall not be required to make an adjustment in the Conversion Rate unless
the adjustment would require a change of at least 1% in the Conversion Rate. However, the Company
will carry forward any adjustments that are less than 1% of the Conversion Rate and make such
carried forward adjustment, regardless of whether the aggregate adjustment is less than 1%, upon
any Conversion Date with respect to the Notes.



     SECTION 4.05. Certain Other Adjustments. To the extent not otherwise covered by Section
4.04, whenever a provision of this Supplemental Indenture requires the calculation of Last Reported
Sale Prices over a span of multiple days, the Board of Directors will make appropriate adjustments
to such Last Reported Sale Prices, or the Conversion Rate or the amount due upon conversion to
account for any adjustment to the Conversion Rate that becomes effective, or any event requiring an
adjustment to the Conversion Rate where the Ex-Dividend Date of the event occurs, at any time
during the period from which such Last Reported Sale Prices are to be calculated. In addition, the
Board of Directors will make appropriate adjustments to the Conversion Rate where a Conversion Date
occurs on or after an Ex Dividend Date relating to any event requiring an adjustment to the
Conversion Rate and on or prior to the record date relating to such Ex Dividend Date. Any such
adjustment in accordance with the provisions of this Section 4.05 shall be determined in good faith
by the Board of Directors in order to give effect to the intent of Section 4.04 and the other
provisions of this Article 4 and to avoid unjust or inequitable results.



     SECTION 4.06. Adjustments Upon Certain Fundamental Changes. (a) If a Make-Whole Fundamental
Change occurs and a Holder elects to convert its Notes in connection with such Make-Whole
Fundamental Change, the Company shall, under certain circumstances, increase the



24









 




Conversion Rate for the Notes so surrendered for conversion by a number of additional shares
of Common Stock (the “Additional Shares”) as described below. A conversion of Notes shall be deemed
for these purposes to be “in connection with” such Make-Whole Fundamental Change if the notice of
conversion of the Notes is received by the Conversion Agent 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 Purchase Date (or, in the case of an event that would have been a
Fundamental Change but for the proviso in clause (2) of the definition thereof, the 35th calendar
day immediately following the Effective Date of such Make-Whole Fundamental Change).




     (b) Upon surrender of Notes for conversion in connection with a Make-Whole Fundamental
Change, the Company shall deliver the shares of Common Stock as provided in Section 4.03,
calculated based on the Conversion Rate as adjusted by the Additional Shares; provided, however,
that if, at the effective time of a Make-Whole Fundamental Change, the Reference Property is
comprised entirely of cash, then, for any conversion of Notes following the effective date of such
Make-Whole Fundamental Change, the amounts deliverable by the Company shall be calculated based
solely on the “Stock Price” (as defined below) for the Make-Whole Fundamental Change and shall be
deemed to be an amount equal to the Conversion Rate (including any adjustment for Additional
Shares) multiplied by such Stock Price. In such event, the amounts deliverable by the Company shall
be determined and paid to holders in cash on the third Business Day following the Conversion Date.



     (c) The number of Additional Shares, if any, by which the Conversion Rate will be
increased will be determined by reference to the table attached as Schedule A hereto, based
on the date on which the Make-Whole Fundamental Change occurs or becomes effective (the “Effective
Date”) and the price (the “Stock Price”) paid (or deemed paid) per share of the Common Stock in the
Fundamental Change. If the holders of the Common Stock receive only cash in a Make-Whole
Fundamental Change described in clause (2) of the definition of Fundamental Change, the Stock Price
shall be the cash amount paid per share. Otherwise, the Stock Price shall be the average of the
Last Reported Sale Prices of the Common Stock over the ten Trading-Day period ending on, and
including, the Trading Day immediately preceding the Effective Date of the Make-Whole Fundamental
Change.



     The exact Stock Prices and Effective Dates may not be set forth in the table in Schedule
A, in which case:




     (i) If the Stock Price is between two Stock Prices in the table or the Effective
Date is between two Effective Dates in the table, the number of Additional Shares shall be
determined by a straight-line interpolation between the number of Additional Shares set
forth for the higher and lower Stock Prices and the earlier and later Effective Dates, as
applicable, based on a 365-day year.




     (ii) If the Stock Price is greater than $50.00 per share (subject to adjustment in
the same manner as the Stock Prices set forth in the column headings of the table in
Schedule A pursuant to subsection (d) below), no Additional Shares shall be added to
the Conversion Rate.



25









 






     (iii) If the Stock Price is less than $11.73 per share (subject to adjustments in
the same manner as the Stock Prices set forth in the column headings of the table in
Schedule A pursuant to subsection (d) below), no Additional Shares shall be added to
the Conversion Rate.



     Notwithstanding the foregoing, in no event shall the Conversion Rate exceed 85.2515 shares of
Common Stock per $1,000 principal amount of Notes, subject to adjustments in the same manner as the
Conversion Rate as set forth in Section 4.04.



     (d) The Stock Prices set forth in the column headings of the table in Schedule A
hereto shall be adjusted as of any date on which the Conversion Rate of the Notes is otherwise
adjusted. The adjusted Stock Prices shall equal the Stock Prices applicable immediately prior to
such adjustment, multiplied by a fraction, the numerator of which is the Conversion Rate
immediately prior to such adjustment giving rise to the Stock Price adjustment and the denominator
of which is the Conversion Rate as so adjusted. The number of Additional Shares set forth in such
table shall be adjusted in the same manner as the Conversion Rate as set forth in Section 4.04.



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



     SECTION 4.07. Effect of Recapitalization, Reclassification, Consolidation, Merger or Sale.



     (a) If any of the following events occur:




     (i) any recapitalization or reclassification of, or change in, the Common Stock
(other than changes resulting from a subdivision or combination);




     (ii) a consolidation, merger or combination involving the Company; or




     (iii) a sale, lease or other transfer to a third party of the consolidated assets
of the Company and its Subsidiaries substantially as an entirety; or




     (iv) any statutory share exchange;


in each case as a result of which the Common Stock would be converted into, or exchanged for, or
would be reclassified or changed into, stock, other securities, other property or assets (including
cash or any combination thereof) (any such event, a “Merger
Event”), then at the effective time of
such Merger Event, the Company or the successor or purchasing Person, as the case may be, shall
execute with the Trustee a supplemental indenture (which shall comply with the Trust Indenture Act
as in force at the date of execution of such supplemental indenture) providing that at and after
the effective time of such Merger Event, the right to convert a Note will be changed into a right
to convert such Note as set forth in this Indenture into the kind and amount of shares of stock,
other securities or other property or assets (including cash or any combination thereof) that a
holder of a number of shares of Common Stock equal to the







26









 







Conversation Rate prior to such Merger
Event would have owned or been entitled to receive (the
“Reference Property”) upon such Merger
Event.




     If, as a result of the Merger Event, each share of Common Stock is converted into the right to
receive more than a single type of consideration (determined based in part upon any form of
stockholder election), then the Reference Property into which the Notes will be convertible will be
deemed to be the weighted average of the types and amounts of consideration received by the holders
of Common Stock that affirmatively make such an election. The Company will notify Holders of the
weighted average as soon as practicable after such determination is made



     The Company shall not become a party to any such Merger Event unless its terms are consistent
with this Section 4.07. Such supplemental indenture shall provide for adjustments which shall be as
nearly equivalent as may be practicable to the adjustments provided for in this Article 4 in the
judgment of the Board of Directors or the board of directors of the successor Person. If, in the
case of any such recapitalization, reclassification, change, consolidation, merger, combination,
sale, lease, other transfer or statutory share exchange, the Reference Property includes shares of
stock, securities or other property or assets (including cash or any combination thereof) of a
Person other than the successor or purchasing Person, as the case may be, in such recapitalization,
reclassification, change, consolidation, merger, combination, sale, lease, other transfer or
statutory share exchange, then such supplemental indenture shall also be executed by such other
Person.



     (b) The Company shall cause notice of the execution of such supplemental indenture to be
mailed to each Holder, at the address of such Holder as it appears on the register of the Notes
maintained by the Debt Security Registrar, within 20 days after execution thereof. Failure to
deliver such notice shall not affect the legality or validity of such supplemental indenture. The
above provisions of this Section 4.07 shall similarly apply to successive reclassifications,
changes, consolidations, mergers, combinations, sales and conveyances. If this Section 4.07 applies
to any Merger Event, Section 4.04 shall not apply.



     (c) In connection with any Merger Event, the Initial Dividend Threshold will subject to
adjustment as described in clause (i), clause (ii) or clause (iii) below, as the case may be.




     (i) In the case of a Merger Event in which the Reference Property (determined, as
appropriate, pursuant to the second paragraph of subsection (a) above and excluding any
dissenters’ appraisal rights) is composed entirely of shares of common stock (the “Merger
Common Stock”), the Initial Dividend Threshold at and after the effective time of such
Merger Event will be equal to (x) the Initial Dividend Threshold immediately prior to the
effective time of such Merger Event, divided by (y) the number of shares of Merger Common
Stock that a holder of one share of Common Stock would receive in such Merger Event (such
quotient rounded down to nearest cent).




     (ii) In the case of a Merger Event in which the Reference Property (determined, as
appropriate, pursuant to the second paragraph of subsection (a) above and excluding any
dissenters’ appraisal rights) is composed in part of shares of Merger Common Stock, the
Initial Dividend Threshold at and after the effective time of such Merger Event will be
equal to (x) the Initial Dividend Threshold immediately prior to the



27









 






effective time of such
Merger Event, multiplied by (y) the Merger Valuation Percentage for such Merger Event (such
quotient rounded down to nearest cent).




     (iii) For the avoidance of doubt, in the case of a Merger Event in which the
Reference Property (determined, as appropriate, pursuant to the second paragraph of
subsection (a) above and excluding any dissenters’ appraisal rights) is composed entirely of
consideration other than shares of common stock, the Initial Dividend Threshold at and after
the effective time of such Merger Event will be equal to zero.



     (d) For purposes of subsection (c) of this Section 4.07, the following terms shall have
the following meanings:




     (i) The “Merger Valuation Percentage” for any Merger Event shall be equal to (x)
the arithmetic average of the Last Reported Sale Prices of one share of such Merger Common
Stock over the relevant Merger Valuation Period (determined as if references to “Common
Stock” in the definition of “Last Reported Sale Price” were references to the “Merger Common
Stock” for such Merger Event), divided by (y) the arithmetic average of the Last Reported
Sale Prices of one share of Common Stock over the relevant Merger Valuation Period.




     (ii) The “Merger Valuation Period” for any Merger Event means the five consecutive
Trading Day period immediately preceding, but excluding, the effective date for such Merger
Event.



     SECTION 4.08. Taxes on Shares Issued. The Company will pay any documentary, stamp or similar
issue or transfer tax due on the issue or delivery of shares of Common Stock on conversion of Notes
pursuant hereto; provided, however, that if such documentary, stamp or similar issue or transfer
tax is due because the Holder of such Notes has requested that shares of Common Stock be issued in
a name other than that of the Holder of the Notes converted, then such taxes will be paid by the
Holder, and the Company shall not be required to issue or deliver any stock certificate evidencing
such shares unless and until the Holder shall have paid to the Company the amount of such tax or
shall have established to the satisfaction of the Company that such tax has been paid.



     SECTION 4.09. Reservation of Shares; Shares to be Fully Paid; Compliance With Governmental
Requirements; Listing of Common Stock. The Company shall reserve, out of its authorized but
unissued shares or shares held in treasury, sufficient shares of Common Stock to satisfy conversion
of the Notes from time to time as such Notes are presented for conversion (assuming that, at the
time of the computation of such number of shares or securities, all such Notes would be converted
by a single Holder).



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




28











 





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



     SECTION 4.10. Responsibility of Trustee. The Trustee and any Conversion Agent
shall not at any time be under any duty or responsibility to any Holder of Notes to determine or
calculate the Conversion Rate, to determine whether any facts exist which may require any
adjustment of the Conversion Rate, or to confirm the accuracy of any such adjustment when made or
the appropriateness of the method employed, or herein or in any supplemental indenture provided to
be employed, in making the same. The Trustee and any other Conversion Agent shall not be
accountable with respect to the validity or value (or the kind or amount) of any shares of Common
Stock or of any other securities or property that may at any time be issued or delivered upon the
conversion of any Notes; and the Trustee and the Conversion Agent make no representations with
respect thereto. Neither the Trustee nor any Conversion Agent shall be responsible for any failure
of the Company to issue, transfer or deliver any shares of Common Stock or stock certificates or
other securities or property or cash upon the surrender of any Notes for the purpose of conversion
or to comply with any of the duties, responsibilities or covenants of the Company contained in this
Article 4. The rights, privileges, protections, immunities and benefits given to the Trustee,
including without limitation its right to be compensated, reimbursed, and indemnified, are extended
to, and shall be enforceable by, the Trustee in each of its capacities hereunder, including its
capacity as Conversion Agent.



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




     (a) the Company shall declare a dividend (or any other distribution) on its Common
Stock that would require an adjustment in the Conversion Rate pursuant to Section 4.04; or




     (b) the Company shall authorize the granting to the holders of all or substantially all
of its Common Stock of rights or warrants to subscribe for or purchase any share of any
class or any other rights or warrants that would require an adjustment in the Conversion
Rate pursuant to Section 4.04 or Section 4.12 hereof; or




     (c) of any reclassification or reorganization of the Common Stock of the Company (other
than a subdivision or combination of its outstanding Common Stock, or a change in par value,
or from par value to no par value, or from no par value to par value), or of any
consolidation or merger to which the Company is a party and for which approval of any
stockholders of the Company is required, or of the sale, lease or transfer of all or
substantially all of the assets of the Company and its consolidated Subsidiaries; or




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


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





29









 







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




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



ARTICLE 5

REMEDIES




     SECTION 5.01. Events of Default. In addition to the Events of Default specified
in Section 501 of the Original Indenture, each of the following events shall be an “Event of
Default” wherever used herein with respect to the Notes :




     (a) failure by the Company to comply with its obligation to convert the Notes in
accordance with the Indenture upon exercise of a Holder’s conversion right in accordance
with Article 4 hereof;




     (b) failure by the Company to provide a Fundamental Change Company Notice pursuant to
Section 3.01(b) when due;




     (c) a final judgment for the payment of $50 million or more (excluding any amounts
covered by insurance) rendered against the Company or any Significant Subsidiary of the
Company, which judgment is not discharged or stayed within 60 days after (i) the date on
which the right to appeal or petition for review thereof has expired if



30









 







no such appeal or review has commenced or (ii) the date on which all rights to appeal
or petition for review have been extinguished;




     (d) the entry of a decree or order by a court having jurisdiction in the premises
adjudging any Significant Subsidiary of the Company a bankrupt or insolvent, or approving as
properly filed a petition seeking reorganization, arrangement, adjustment, rehabilitation or
composition of or in respect of such Significant Subsidiary under Federal bankruptcy law or
any other applicable Federal or State law, or appointing a receiver, liquidator, assignee,
trustee, sequestrator, rehabilitator or other similar official of such Significant
Subsidiary or of any substantial part of its property, or ordering the winding up or
liquidation of its affairs, and the continuance of any such decree or order unstayed and in
effect for a period of 60 consecutive days; and




     (e) the institution by a Significant Subsidiary of the Company of proceedings to be
adjudicated a bankrupt or insolvent, or the consent by it to the institution of bankruptcy,
rehabilitation or insolvency proceedings against it, or the filing by it of a petition or
answer or consent seeking reorganization or relief under Federal bankruptcy law or any other
applicable Federal or State law, or the consent by it to the filing of such petition or to
the appointment of a receiver, liquidator, assignee, trustee, sequestrator, rehabilitator or
similar official of such Significant Subsidiary or any substantial part of its property, or
the making by it of an assignment for the benefit of creditors, or the admission by it in
writing of its inability to pay its debts generally as they become due, or the taking of
corporate action by such Significant Subsidiary in furtherance of any such action.


In addition, clause (5) of Section 501 of the Indenture is, with respect to the Notes, hereby
replaced in its entirety with the following:





     “(5) if an event of default as defined in any mortgage, indenture or instrument under
which there may be issued, or by which there may be secured or evidenced, any indebtedness
for money borrowed of the Company or of any Significant Subsidiary of the Company in excess
of $50,000,0000, whether such indebtedness now exists or shall hereafter be created, shall
happen and shall result in such indebtedness becoming or being declared due and payable
prior to the date on which it would otherwise become due and payable, and such acceleration
shall not be rescinded or annulled, or such indebtedness shall not have been discharged,
within a period of 10 days after there has been given, by registered or certified mail, to
the Company by the Trustee or to the Company and the Trustee by the Holders of at least 10%
in principal amount of the Outstanding Notes a written notice specifying such event of
default and requiring that such acceleration be rescinded or annulled or such indebtedness
to be discharged and stating that such notice is a “Notice of Default” hereunder; or”



     SECTION 5.02. Additional Interest. Notwithstanding any provisions of the
Indenture to the contrary, if the Company so elects, the sole remedy for an Event of Default
relating to any obligation to file documents and reports with the Trustee as required by Section
314(a)(1) of the Trust Indenture Act, Section 2.04 of this Supplemental Indenture, or Section 704
of the Original Indenture shall for the first 180 days following the occurrence of such Event of
Default consist



31









 




exclusively of the right to receive additional interest on the Notes equal to
0.50% of the principal amount of the Notes (“Additional Interest”). In order to elect to pay
Additional Interest as the sole remedy during the first 180 days after the occurrence of an Event
of Default described in the preceding sentence, the Company must (i) give notice to Holders of the
Notes, the Trustee and the Paying Agent of such election on or before the close of business on the
5th Business Day after the date on which such Event of Default occurs and (ii) pay such Additional
Interest on or before the date on which such Event of Default first occurs. Upon the failure to
timely give all Holders, the Trustee and the Paying Agent such notice or to pay such Additional
Interest, the Notes will be subject to immediate acceleration as provided in Section 502 of the
Original Indenture. On the 180th day after such Event of Default occurs (if such Event of Default
is not cured or waived prior to such 180th day), the Notes shall be subject to acceleration as
provided in Section 502 of the Original Indenture. This Section 5.02 shall not affect the rights of
Holders of Notes in the event of the occurrence of any other Event of Default. Whenever in the
Indenture there is mentioned, in any context, the payment of interest on, or in respect of, any
Note, such mention shall be deemed to include mention of the payment of Additional Interest
provided for in this Section 5.02 to the extent that, in such context, Additional Interest is, was
or would be payable in respect thereof pursuant to the provisions of this Section 5.02, and express
mention of the payment of Additional Interest (if applicable) in any provision shall not be
construed as excluding Additional Interest in those provisions where such express mention is not
made.




     SECTION 5.03. Acceleration of Maturity; Rescission and Annulment.



     (a) The first paragraph of Section 502 of the Indenture is, with respect to the Notes,
hereby replaced in its entirety with the following paragraph:




     “If an Event of Default, other than an Event of Default specified in clauses (6) or (7)
of Section 501 of the Original Indenture, occurs and is continuing, then and in every such
case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding
Notes may declare the principal of all the Notes, together with accrued and unpaid interest
thereon, to be due and payable immediately, by a notice in writing to the Company (and to
the Trustee if given by Holders), and upon any such declaration the same shall become
immediately due and payable. If an Event of Default specified in clause (6) or (7) of the
Original Indenture occurs, then the principal amount of all the Notes, together with accrued
and unpaid interest thereon, shall automatically become immediately due and payable.”



     (b) The second paragraph of Section 502 is, with respect to the Notes, modified as
follows:




     (i) the first parenthetical in Section 502 which reads “(or all Debt Securities, as the
case may be, treated as one class)” is hereby deleted;




     (ii) the parenthetical in clause (1)(A) of Section 502 which reads “(or of all Debt
Securities as the case may be)” is hereby deleted; and



32









 






     (iii) each parenthetical in clause (1)(B) and 1(C) of Section 502 which reads “(or at
the respective rates of interest of all the Debt Securities, as the case may be)” is hereby
deleted.



ARTICLE 6

SATISFACTION AND DISCHARGE




     SECTION 6.01. Satisfaction and Discharge of the Supplemental Indenture. (a) The
satisfaction and discharge provisions set forth in this Article 6 shall, with respect to the Notes,
supersede in their entirety Article Four of the Original Indenture, and all references in the
Original Indenture to Article Four thereof and satisfaction and discharge provisions therein, as
the case may be, shall, with respect to the Notes, be deemed to be references to this Article 6 and
the satisfaction and discharge provisions set forth in this Article 6, respectively. When (i) the
Company shall deliver to the Registrar for cancellation all Notes theretofore authenticated (other
than any Notes that have been destroyed, lost or stolen and in lieu of or in substitution for which
other Notes shall have been authenticated and delivered) and not theretofore canceled, or (ii) all
the Notes not theretofore canceled or delivered to the Trustee for cancellation shall have become
due and payable (whether at Stated Maturity for the payment of the principal amount thereof, on any
Fundamental Change Purchase Date or upon conversion or otherwise) and the Company shall deposit
with the Trustee, in trust, or deliver to the Holders, as applicable, cash funds sufficient to pay
all amounts due (or shares of Common Stock deliverable following conversion, if applicable) on all
of such Notes (other than any Notes that shall have been mutilated, destroyed, lost or stolen and
in lieu of or in substitution for which other Notes shall have been authenticated and delivered)
not theretofore canceled or delivered to the Trustee for cancellation, including principal and
interest due, accompanied, except in the event the Notes are due and payable solely in cash at the
Stated Maturity of the Notes or upon an earlier Fundamental Change Purchase Date, by a verification
report as to the sufficiency of the deposited amount from an independent certified accountant or
other financial professional reasonably satisfactory to the Trustee (which may include any of the
Underwriters), and if the Company shall also pay or cause to be paid all other sums payable
hereunder by the Company, then this Supplemental Indenture shall cease to be of further effect
(except as to (A) rights hereunder of Holders of the Notes to receive all amounts owing upon the
Notes and the other rights, duties and obligations of Holders of the Notes, as beneficiaries hereof
with respect to the amounts, if any, so deposited with the Trustee and (B) the rights, obligations
and immunities of the Trustee hereunder), and the Trustee, on written demand of the Company
accompanied by an Officers’ Certificate and an Opinion of Counsel as required by Section 102 of the
Original Indenture and at the cost and expense of the Company, shall execute proper instruments
acknowledging satisfaction and discharge of this Supplemental Indenture; the Company, however,
hereby agrees to reimburse the Trustee for any costs or expenses thereafter reasonably and properly
incurred by the Trustee, including the fees and expenses of its counsel, and to compensate the
Trustee for any services thereafter reasonably and properly rendered by the Trustee in connection
with this Supplemental Indenture or the Notes.



     SECTION 6.02. Deposited Monies to Be Held in Trust by Trustee. Subject to
Section 6.04, all monies deposited with the Trustee pursuant to Section 6.01 shall be held in trust
for the sole benefit of the Holders of the Notes, and such monies shall be applied by the Trustee
to the payment, either directly or through any Paying Agent (including the Company
if acting as



33









 




its own Paying Agent), to the Holders of the particular Notes for the payment of
all sums due and to become due thereon for principal and interest, if any.




     SECTION 6.03. Paying Agent to Repay Monies Held. Upon the satisfaction and
discharge of this Indenture, all monies then held by any Paying Agent (if other than the Trustee)
shall, upon written request of the Company, 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 monies.



     SECTION 6.04. Return of Unclaimed Monies. Subject to the requirements of
applicable law, any monies deposited with or paid to the Trustee for payment of the principal of or
interest, if any, on the Notes and not applied but remaining unclaimed by the Holders of the Notes
for two years after the date upon which the principal of or interest, if any, on such Notes, as the
case may be, shall have become due and payable, shall be repaid to the Company by the Trustee on
demand, and all liability of the Trustee shall thereupon cease with respect to such monies; and the
Holder of any of the Notes shall thereafter look only to the Company for any payment that such
Holder of the Notes may be entitled to collect unless an applicable abandoned property law
designates another Person.



     SECTION 6.05. Reinstatement. If the Trustee or the Paying Agent is unable to
apply any money in accordance with Section 6.02 by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such application, the
Company’s obligations under the Indenture and the Notes shall be revived and reinstated as though
no deposit had occurred pursuant to Section 6.01 until such time as the Trustee or the Paying Agent
is permitted to apply all such money in accordance with Section 6.02; provided, however, that if
the Company makes any payment of interest on or principal of any Note following the reinstatement
of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to
receive such payment from the money held by the Trustee or Paying Agent.



ARTICLE 7

SUPPLEMENTAL INDENTURES




     SECTION 7.01. Amendments or Supplements Without Consent of Holders. In addition
to any permitted amendment or supplement to the Indenture pursuant to Section 901 of the Original
Indenture, the Company and the Trustee may amend or supplement the Indenture or the Notes without
notice to or the consent of any Holder of the Notes:




     (a) to add guarantees with respect to the Notes; or




     (b) to conform this Supplemental Indenture and the form or terms of the Notes to the
section entitled “Description of Notes” set forth in the final prospectus supplement dated
March 2, 2011 relating to the offering and sale of the Notes.



     SECTION 7.02. Amendments or Supplements With Consent of Holders.



     (a) The first paragraph of Section 902 of the Indenture, excluding clauses (1), (2) and (3) of
such paragraph, is, with respect to the Notes, hereby replaced in its entirety with the following:



34









 






     “With the consent of the Holders of not less than a majority in principal amount of the
Outstanding Debt Securities of each series affected by such supplemental indenture (voting
as separate classes), by Act of said Holders delivered to the Company and the Trustee, the
Company, when authorized by a Board Resolution, and the Trustee may 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 modifying in any
manner the rights of the Holders of such series under this Indenture; provided,
however, that no such supplemental indenture shall, without the consent of the Holder of
each Outstanding Debt Security affected thereby,”



     (b) The Company and the Trustee may amend the Indenture with respect to the Notes and the
Notes as provided in Sections 901 and 902 of the Indenture. Notwithstanding the foregoing
provision and in addition to the provisions of Section 902 of the Indenture, without the consent of
each Holder of an outstanding Note affected thereby, no amendment or waiver, including a waiver in
relation to a past Event of Default, may:




     (i) make any change that adversely affects the conversion rights of any Notes; or




     (ii) reduce any Fundamental Change Purchase Price or amend or modify in any manner
adverse to the Holders of Notes the Company’s obligation to make any such payment, whether
through an amendment or waiver of provisions in the covenants or definitions related thereto
or otherwise.



     SECTION 7.03. Notice of Amendments and Supplements. After an amendment, or
supplement of the Indenture becomes effective, the Company shall give to the Holders affected
thereby a notice briefly describing the amendment or supplement. The Company will mail
supplemental indentures to Holders upon request. Any failure of the Company to mail such notice,
or any defect therein, shall not, however, in any way impair or affect the validity of any such
supplemental indenture.



ARTICLE 8

INAPPLICABLE PROVISIONS OF THE ORIGINAL INDENTURE




     SECTION 8.01. Limitations on Liens on Stock of Principal Insurance Subsidiaries.
The provisions of Section 1005 of the Original Indenture shall not apply to the Notes.



     SECTION 8.02. Limitations on Issue or Disposition of Stock of Principal
Insurance Subsidiaries. The provisions of Section 1006 of the Original Indenture shall not apply
to the Notes.



     SECTION 8.03. Prior Indentures Supplemental to Original Indenture Excluded. No
provision of any indenture supplemental to the Original Indenture executed prior
to the date hereof between the Company and the Trustee, including, without limitation,
Supplemental Indenture No. 1, dated as of June 16, 1997, Supplemental Indenture No. 2, dated as of
December 31, 1997, and Supplemental Indenture No. 3, dated as of April 29, 2009, shall have any
effect with respect to this Supplemental Indenture, the Notes or the terms hereof and thereof
established hereby.



35









 





     SECTION 8.04. Articles Thirteen and Fourteen of Original Indenture. (a) The
provisions concerning conversion rights and related matters set forth in this Supplemental
Indenture shall, with respect to the Notes, supersede in their entirety the provisions of Article
Thirteen of the Original Indenture, and all references in the Original Indenture to Article
Thirteen thereof and the provisions concerning conversion therein shall, with respect to the Notes,
be deemed to be references to the conversion rights and related matters specified in this
Supplemental Indenture.



     (b) The Notes shall not constitute Subordinated Debt Securities and the provisions of Article
Fourteen of the Original Indenture shall not apply to the Notes.



ARTICLE 9

MISCELLANEOUS




     SECTION 9.01. Governing Law.



     (a) THIS SUPPLEMENTAL INDENTURE AND THE NOTES SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.



     (b) Section 112 of the Original Indenture is, with respect to the Notes, hereby replaced
in its entirety with the following:




     “This Indenture and the Debt Securities shall be governed by and construed in
accordance with the laws of the State of New York.”



     SECTION 9.02. Payments on Business Days. If any Interest Payment Date or the
Stated Maturity of the Notes or any earlier required repurchase date would fall on a day that is
not a Business Day, the required payment shall be made on the next succeeding Business Day and no
interest on such payment shall accrue in respect of the delay.



     SECTION 9.03. No Security Interest Created. Nothing in this Supplemental
Indenture or in the Notes, expressed or implied, shall be construed to constitute a security
interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and
in effect, in any jurisdiction.



     SECTION 9.04. Trust Indenture Act. This Supplemental Indenture is hereby made
subject to, and shall be governed by, the provisions of the Trust Indenture Act required to be part
of and to govern indentures qualified under the Trust Indenture Act. If any provision hereof
limits, qualifies or conflicts with another provision hereof or the Original Indenture that is
required to be included in an indenture qualified under the Trust Indenture Act, such required
provision shall control.



     SECTION 9.05. Benefits of Indenture. Nothing in this Supplemental Indenture or
in the Notes, expressed or implied, shall give to any Person, other than the parties hereto, any
Paying Agent, any Conversion Agent, any authenticating agent, any Registrar and their successors
hereunder or the Holders of the Notes, any benefit or any legal or equitable right, remedy or claim
under this Supplemental Indenture.



36









 





     SECTION 9.06. Calculations. Except as otherwise provided in this Supplemental
Indenture, the Company shall be responsible for making all calculations called for under the Notes.
These calculations include, but are not limited to, determinations of any Last Reported Sale Price
of the Common Stock, accrued interest payable on the Notes and the Conversion Rate. The Company
shall make all these calculations in good faith and, absent manifest error, the Company’s
calculations shall be final and binding on Holders of Notes. The Company shall provide a schedule
of its calculations to each of the Trustee and the Conversion Agent (if different than the
Trustee), and each of the Trustee and Conversion Agent (if different than the Trustee) is entitled
to rely conclusively upon the accuracy of the Company’s calculations without independent
verification. The Trustee will forward the Company’s calculations to any Holder of Notes upon the
request of that Holder at the sole cost and expense of the Company.



     SECTION 9.07. Table of Contents, Headings, Etc. The table of contents and the
titles and headings of the articles and sections of this Supplemental Indenture have been inserted
for convenience of reference only, are not to be considered a part hereof, and shall in no way
modify or restrict any of the terms or provisions hereof.



     SECTION 9.08. Execution in Counterparts. This Supplemental 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 9.09. Severability. In the event any provision of this Supplemental
Indenture or in the Notes shall be invalid, illegal or unenforceable, then (to the extent permitted
by law) the validity, legality or enforceability of the remaining provisions shall not in any way
be affected or impaired.



[Remainder of the page intentionally left blank]





37









 








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



	 	 	 	 	 
	 	OLD REPUBLIC INTERNATIONAL CORPORATION

 	 
	 	By:  	/s/ Karl W. Mueller
 	 
	 	 	Name:  	Karl W. Mueller 	 
	 	 	Title:  	SVP + CFO 	 



[Trustee Signature Follows]






38









 








	 	 	 	 	 
	 	WILMINGTON TRUST COMPANY,

as Trustee

 	 
	 	By:  	/s/ Mary C. St. Amand
 	 
	 	 	Name:  	Mary C. St. Amand 	 
	 	 	Title:  	Vice President 	 



39









 









SCHEDULE A



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




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Effective Date	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Stock Price	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	$	11.73	 	 	$	12.00	 	 	$	13.00	 	 	$	14.00	 	 	$	15.00	 	 	$	16.00	 	 	$	17.50	 	 	$	20.00	 	 	$	22.50	 	 	$	25.00	 	 	$	30.00	 	 	$	40.00	 	 	$	50.00	 
	3/8/2011
	 	 	20.9108	 	 	 	19.7187	 	 	 	15.7263	 	 	 	12.5740	 	 	 	10.0705	 	 	 	8.0731	 	 	 	5.7984	 	 	 	3.3308	 	 	 	1.8968	 	 	 	1.0738	 	 	 	0.3829	 	 	 	0.1803	 	 	 	0.1362	 
	3/15/2012
	 	 	20.9108	 	 	 	18.9926	 	 	 	14.5603	 	 	 	11.5103	 	 	 	9.1072	 	 	 	7.2070	 	 	 	5.0699	 	 	 	2.8041	 	 	 	1.5347	 	 	 	0.8419	 	 	 	0.3195	 	 	 	0.1794	 	 	 	0.1359	 
	3/15/2013
	 	 	20.9108	 	 	 	18.9926	 	 	 	13.6956	 	 	 	10.6935	 	 	 	8.3485	 	 	 	6.5126	 	 	 	4.4769	 	 	 	2.3749	 	 	 	1.2481	 	 	 	0.6705	 	 	 	0.2840	 	 	 	0.1787	 	 	 	0.1354	 
	3/15/2014
	 	 	20.9108	 	 	 	18.9926	 	 	 	13.2082	 	 	 	10.1726	 	 	 	7.8233	 	 	 	6.0044	 	 	 	4.0204	 	 	 	2.0354	 	 	 	1.0268	 	 	 	0.5484	 	 	 	0.2657	 	 	 	0.1782	 	 	 	0.1350	 
	3/15/2015
	 	 	20.9108	 	 	 	18.9926	 	 	 	12.9591	 	 	 	9.8085	 	 	 	7.3974	 	 	 	5.5574	 	 	 	3.5940	 	 	 	1.7132	 	 	 	0.8282	 	 	 	0.4517	 	 	 	0.2558	 	 	 	0.1779	 	 	 	0.1347	 
	3/15/2016
	 	 	20.9108	 	 	 	18.9926	 	 	 	12.8112	 	 	 	9.4410	 	 	 	6.9034	 	 	 	5.0104	 	 	 	3.0628	 	 	 	1.3331	 	 	 	0.6235	 	 	 	0.3709	 	 	 	0.2509	 	 	 	0.1776	 	 	 	0.1345	 
	3/15/2017
	 	 	20.9108	 	 	 	18.9926	 	 	 	12.5824	 	 	 	8.7402	 	 	 	5.9737	 	 	 	4.0113	 	 	 	2.1635	 	 	 	0.8124	 	 	 	0.4201	 	 	 	0.3168	 	 	 	0.2494	 	 	 	0.1775	 	 	 	0.1345	 
	3/15/2018
	 	 	20.9108	 	 	 	18.9926	 	 	 	12.5824	 	 	 	7.0879	 	 	 	2.3260	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 






 









 







EXHIBIT A




[FORM OF FACE OF NOTE]



THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. THIS NOTE IS EXCHANGEABLE FOR
NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A
TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE
OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT
IN LIMITED CIRCUMSTANCES.



UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A
NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.




OLD REPUBLIC INTERNATIONAL CORPORATION




3.75% Convertible Senior Note due 2018




			
	No. R-•
	 	Initially $•
	CUSIP No. 680223 AH7	 	 






     OLD REPUBLIC INTERNATIONAL CORPORATION, a Delaware corporation (herein called the “Company”,
which term includes any successor Person under the Indenture hereinafter referred to), for value
received, hereby promises to pay CEDE & CO., or registered assigns, $• DOLLARS ($•) (or such lesser
principal amount as shall be specified in the “Schedule of Exchanges of Securities” attached hereto
as Schedule A) on March 15, 2018 unless earlier converted or repurchased, and to pay
interest thereon as set forth in the manner, at the rates and to the Persons set forth in the
Indenture.



     This Note shall bear interest at a rate of 3.75% per annum from March 8, 2011 or from the most
recent date to which interest had been paid or provided to, but excluding, the next scheduled
Interest Payment Date, until the principal hereof shall be repaid. Interest on this Note will be
computed on the basis of a 360-day year composed of twelve 30-day months. Interest is payable
semi-annually in arrears on each March 15 and September 15, commencing on September 15, 2011, to
the Person in whose name this Note (or one or more predecessor securities) is registered at the
close of business on the Regular Record Date for such interest.



A - 1









 




Additional Interest will be payable
at the option of the Company on the terms set forth in Section 5.02 of the within-mentioned
Supplemental Indenture.




     The Company will pay interest on overdue principal, and, to the extent lawful, on overdue
interest, in each case at a rate of 3.75% per annum. Interest not paid when due and any interest on
principal or interest not paid when due will be paid to Holders on a special record date, which
will be the 15th day preceding the date fixed by the Company for the payment of such interest,
whether or not such day is a Business Day. At least 15 days before a special record date, the
Company will send to each Holder and to the Trustee a notice that sets forth the special record
date, the payment date and the amount of interest to be paid.



     The Company shall pay principal of and interest on this Note, so long as such Note is a Global
Note, in immediately available funds to the Depositary or its nominee, as the case may be, as the
registered Holder of such Note. The Company shall pay principal of any Notes (other than Notes that
are Global Notes) at the office or agency designated by the Company for that purpose. The Company
has initially designated the Trustee as its Paying Agent and Debt Security Registrar in respect of
the Notes and its agency in New York, New York as a place where Notes may be presented for payment
or for registration of transfer. The Company may, however, change the Paying Agent or Debt Security
Registrar for the Notes without prior notice to the Holders thereof, and the Company may act as
Paying Agent or Debt Security Registrar. Interest on the Notes (other than Notes that are Global
Notes) will be payable (i) to Holders of
the Notes having an aggregate principal amount of Notes of $5,000,000 or less, by check mailed
to the Holders of these Notes at their address in the Debt Security Register and (ii) to Holders
having an aggregate principal amount of Notes in excess of $5,000,000, either by check mailed to
each Holder at its address in the Debt Security Register or, upon application by a Holder to the
Debt Security Registrar not later than the relevant Regular Record Date, by wire transfer in
immediately available funds to that Holder’s account within the United States, which application
shall remain in effect until that Holder notifies, in writing, the Debt Security Registrar to the
contrary.



     Reference is hereby made to the further provisions of this Note set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at
this place.



     In the case of any conflict between this Note and the Indenture, the provisions of the
Indenture shall control. This Note, for all purposes, shall be governed by and construed in
accordance with the laws of the State of New York.



     Unless the certificate of authentication hereon has been executed by the Trustee referred to
on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose.



[Remainder of page intentionally left blank]





A - 2









 








     IN WITNESS WHEREOF, OLD REPUBLIC INTERNATIONAL CORPORATION has caused this instrument to be
signed manually or by facsimile by its duly authorized officers.


Dated: •




	 	 	 	 	 
	 	OLD REPUBLIC INTERNATIONAL CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 


[SEAL]



Attest:




	 	 	 	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 




A - 3









 





CERTIFICATE OF AUTHENTICATION




     This is one of the Debt Securities referred to in the within-mentioned Indenture.


Dated: •




	 	 	 	 	 
	 	WILMINGTON TRUST COMPANY,

as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 








A - 4









 











[FORM OF REVERSE OF NOTE]




OLD REPUBLIC INTERNATIONAL CORPORATION

3.75% Convertible Senior Note due 2018




     This Note is one of a duly authorized issue of Debt Securities of the Company (herein called
the “Notes”), issued under an Indenture dated as of August 15, 1992, as previously amended and
supplemented from time to time in accordance with the terms thereof (herein called the “Original
Indenture”) and as further supplemented by the Supplemental Indenture dated as of March 8, 2011
(herein called the “Supplemental Indenture” and, together with the Original Indenture, as
supplemented by the Supplemental Indenture, the “Indenture”) by and between the Company and
Wilmington Trust Company, herein called the “Trustee”, and reference is hereby made to the
Indenture for a statement of the respective rights, limitations of rights, duties and immunities
thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the
Notes are, and are to be, authenticated and delivered. Additional Notes may be issued in an
unlimited aggregate principal amount, subject to certain conditions specified in the Indenture.



     This Note is not subject to redemption at the option of the Company prior to March 15, 2018
and, for the avoidance of doubt, this Note is not subject to the provisions of Article 11 of the
Original Indenture.



     This Note is not subject to the provisions in Sections 1005 and 1006 of the Original
Indenture, and the provisions in Article 6 of the Supplemental Indenture supersede the entirety of
Article 4 of the Original Indenture.



     Upon the occurrence of a Fundamental Change, the Holder has the right, at such Holder’s
option, to require the Company to repurchase all of such Holder’s Notes or any portion thereof (in
principal amounts of $1,000 or integral multiples thereof) on the Fundamental Change Purchase Date
at a price equal to the Fundamental Change Purchase Price.



     As provided in and subject to the provisions of the Indenture, the Holder hereof has the
right, at its option, at any time prior to the close of business on the second Scheduled Trading
Day immediately preceding March 15, 2018, to convert this Note or a portion thereof that is $1,000
or an integral multiple thereof, into shares of Common Stock at the applicable Conversion Rate
specified in the Indenture, as adjusted from time to time as provided in the Indenture.



     As provided in and subject to the provisions of the Indenture, the Company will make all
payments and deliveries in respect of the Fundamental Change Purchase Price and the principal
amount on the Stated Maturity thereof, as the case may be, to the holder who surrenders a Note to
the Paying Agent to collect such payments in respect of the Note. The Company will pay cash amounts
in money of the United States that at the time of payment is legal tender for payment of public and
private debts.



     The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
Notes to be effected under the Indenture at any time by the Company and the



A - 5









 




Trustee with the consent of the Holders of a majority in principal amount of the Notes at the
time outstanding. The Indenture also contains provisions permitting the Holders of specified
percentages in principal amount of the Notes at the time outstanding, on behalf of the Holders of
all Notes, to waive compliance by the Company with certain provisions of the Indenture and certain
past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder
of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this
Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in
lieu hereof, whether or not notation of such consent or waiver is made upon this Note.




     As provided in and subject to the provisions of the Indenture, in case an Event of Default, as
defined in the Indenture, shall have occurred and be continuing, the principal of and interest on
all Notes may be declared due and payable, by either the Trustee or Holders of not less than 25% in
aggregate principal amount of Notes then outstanding, and upon said declaration shall become due
and payable, in the manner, with the effect and subject to the conditions provided in the
Indenture; provided that upon the occurrence of an Event of Default specified in Section 501(6) or
(7) of the Original Indenture, the principal amount of, and interest on, all the Notes shall
automatically become due and payable.



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



     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Note is registrable in the Debt Security Register, upon surrender of this Note for
registration of transfer at the office or agency of the Company in any place where the principal of
and interest on this Note are payable, duly endorsed by, or accompanied by a written instrument of
transfer in form satisfactory to the Company and the Debt Security Registrar duly executed by, the
Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of
this series and of like tenor, of authorized denominations and for the same aggregate principal
amount, will be issued to the designated transferee or transferees.



     The Notes are issuable only in registered form without coupons in denominations of $1,000 and
any integral multiple thereof. As provided in the Indenture and subject to certain limitations
therein set forth, the Notes are exchangeable for a like aggregate principal amount of Notes and of
like tenor of a different authorized denomination, as requested by the Holder surrendering the
same.



     No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in connection therewith.



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



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



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ABBREVIATIONS



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




	 	 	 	 	 

	TEN COM — as tenants in common

	 	UNIF GIFT MIN ACT	 	 
	 
	 	 	 	 
	 
	 	 	 	Custodian
	 

	 	 

(Cust)
	 	 
	 
	 	 	 	 
	TEN ENT — as tenants by the entireties
	 	 	 	 
	 
	 	 	 	 
	 

	 	 

(Minor)
	 	 
	 
	 	 	 	 
	JT TEN — as joint tenants with right
of survivorship and not as tenants in
common

	 	Uniform Gifts to Minors Act                                        (State)







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





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SCHEDULE A




SCHEDULES OF EXCHANGES OF SECURITIES




OLD REPUBLIC INTERNATIONAL CORPORATION

3.75% Convertible Senior Notes due 2018




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



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





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EXHIBIT B




[FORM OF NOTICE OF CONVERSION]



To: Old Republic International Corporation




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



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


$                                        




	 	 	 	 	 

	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	 

Signature(s)
	 	 
	 
	 	 	 	 
	 

	 	Signature(s) must be guaranteed
by an institution which is a member of one of the
following recognized signature Guarantee
Programs:	 	 
	 
	 	 	 	 
	 

	 	(i) The Securities Transfer Agent Medallion
Program (STAMP); (ii) The New York Stock Exchange
Medallion Program (MNSP); (iii) The Stock
Exchange Medallion Program (SEMP) or (iv) another
guarantee program acceptable to the Trustee.	 	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	 

Signature Guarantee
	 	 






B -1









 




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




	 	 	 

	 
	 	 
	 

(Name)

	 	 
	 
	 	 
	 
	 	 
	 

(Address)

	 	 
	 
	 	 
	Please print Name and Address


(including zip code number)
	 	 
	 
	 	 
	Social Security or other Taxpayer 

Identifying Number                                          
	 	 






B -2









 







EXHIBIT C




[FORM OF FUNDAMENTAL CHANGE PURCHASE NOTICE]



To: Old Republic International Corporation



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



In the case of certificated Notes, the certificate numbers of the Notes to be repurchased are as
set forth below:



Dated:                                         




	 	 	 	 	 

	 
	 	 	 	 
	 

	 	 

Signature(s)
	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	 

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






C-1









 








EXHIBIT D




[FORM OF ASSIGNMENT AND TRANSFER]



For value received                                          hereby sell(s), assign(s) and transfer(s) unto
                                         (Please insert social security or Taxpayer Identification Number of
assignee                     ) the within Note, and hereby irrevocably constitutes and appoints
                    

                    
attorney to transfer the said Note on the books of the Company, with full power of
substitution in the premises.



Dated:                                         




	 	 	 	 	 

	 
	 	 	 	 
	 

	 	 

Signature(s)
	 	 
	 
	 	 	 	 
	 

	 	Signature(s) must be guaranteed
by an institution which is a member of one of the
following recognized signature Guarantee Programs:	 	 
	 
	 	 	 	 
	 

	 	(i) The Securities Transfer Agent Medallion Program
(STAMP); (ii) The New York Stock Exchange Medallion
Program (MNSP); (iii) The Stock Exchange Medallion
Program (SEMP) or (iv) another guarantee program
acceptable to the Trustee.	 	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 

	 	 

	 	 
	 

	 	Signature Guarantee	 	 







D-1