Document:

exv10w6

 

Exhibit 10.6

EMPLOYMENT AGREEMENT

     THIS EMPLOYMENT AGREEMENT (“Agreement”) is made by and between Superior Offshore
International, Inc., a Delaware corporation (“Company”), and Patrice Chemin (“Executive”).

WITNESSETH:

     WHEREAS, Executive has accepted an offer of employment with the Company and has agreed to
become employed by the Company effective May 1, 2007; and

     WHEREAS, Company is desirous of employing Executive in an executive capacity on the terms and
conditions, and for the consideration, hereinafter set forth and Executive is desirous of being so
employed by Company on such terms and conditions and for such consideration;

     WHEREAS, Company and Executive expect to enter into a Restricted Stock Agreement (the
“Restricted Stock Agreement”) pursuant to the Superior Offshore International, Inc. 2007 Stock
Incentive Plan prior to the consummation of an underwritten public offering of the Company’s common
stock (the “Initial Public Offering”);

     NOW, THEREFORE, for and in consideration of the mutual promises, covenants and obligations
contained herein, Company and Executive agree as follows:

ARTICLE 1: EMPLOYMENT AND DUTIES

     1.1 Employment; Effective Date. Effective as of May 1, 2007 (the “Effective Date”), and
continuing for the period of time set forth in Article 2 of this Agreement, Company agrees to
employ Executive and Executive agrees to be employed by Company, subject to the terms and
conditions of this Agreement.

     1.2 Positions. From and after the Effective Date, Company shall employ Executive in the
position of Chief Operating Officer of Company, or in such other positions as the parties mutually
may agree.

     1.3 Duties and Services. Executive agrees to serve in the position referred to in paragraph
1.2 and to perform diligently and to the best of his abilities the duties and services appertaining
to such offices, as well as such additional duties and services appropriate to such offices which
the parties mutually may agree upon from time to time. Executive’s employment shall also be
subject to the policies maintained and established by Company that are of general applicability to
Company’s executive employees, as such policies may be amended from time to time.

     1.4 Other Interests. Executive agrees, during the period of his employment by Company, to
devote his primary business time, energy and best efforts to the business and affairs

 

 

of Company and its affiliates and not to engage, directly or indirectly, in any other business
or businesses, whether or not similar to that of Company, except with the prior consent of the
Board of Directors of Company (the “Board of Directors”). The foregoing notwithstanding, the
parties recognize and agree that Executive may engage in other business activities that do not
conflict with the business and affairs of Company or interfere with Executive’s performance of his
duties hereunder, which shall be at the sole determination of the Company’s Chief Executive Officer
(collectively, the “Other Permitted Business Activities”). The Company agrees that serving or
engaging in Other Permitted Business Activities shall not constitute Cause for purposes of
paragraph 2.2(iii).

     1.5 Duty of Loyalty. Executive acknowledges and agrees that Executive owes a fiduciary duty
of loyalty to act at all times in the best interests of Company. In keeping with such duty,
Executive shall make full disclosure to Company of all business opportunities pertaining to
Company’s business and shall not appropriate for Executive’s own benefit business opportunities
concerning Company’s business.

     1.6 Place of Employment. Executive’s performance of services under this Agreement shall be
rendered in Houston, Texas, subject to necessary travel requirements of Executive’s position and
duties hereunder. Executive understands and agrees that he may be required to periodically travel
to, among other locations, the Company’s current headquarter office in Lafayette, Louisiana.
Executive shall not be required to relocate to a location that is more than 50 miles from Houston,
Texas without Executive’s consent to such relocation.

ARTICLE 2: TERM AND TERMINATION OF EMPLOYMENT

     2.1 Term. Unless sooner terminated pursuant to other provisions hereof, Company agrees to
employ Executive for the period beginning on the Effective Date and ending on April 30, 2009 (the
“Initial Expiration Date”); provided, however, that beginning on the Initial Expiration Date, and
on each anniversary of the Initial Expiration Date thereafter, if this Agreement has not been
terminated pursuant to paragraph 2.2 or 2.3, then said term of employment shall automatically be
extended for an additional one-year period unless on or before the date that is 90 days prior to
the first day of any such extension period either party shall give written notice to the other that
no such automatic extension shall occur.

     2.2 Company’s Right to Terminate. Notwithstanding the provisions of paragraph 2.1, Company
shall have the right to terminate Executive’s employment under this Agreement at any time for any
of the following reasons:

     (i) upon Executive’s death;

     (ii) upon Executive’s becoming incapacitated by accident, sickness or other
circumstance which, in the opinion of a physician selected by Company, renders him mentally
or physically incapable of performing the duties and services required of him hereunder
(“Disability”);

     (iii) for cause, which for purposes of this Agreement shall mean Executive (A) has
willfully breached any of his duties and obligations hereunder resulting in materially
adverse consequences to Company or any of its affiliates, (B) has misappropriated funds

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or property of Company or any of its affiliates, or (C) has engaged in conduct that is
materially adverse to the interests of Company or any of its affiliates (each referred to
hereinafter as “Cause”); or

     (iv) for any other reason whatsoever, in the sole discretion of the Board of Directors.

     2.3 Executive’s Right to Terminate. Notwithstanding the provisions of paragraph 2.1,
Executive shall have the right to terminate his employment under this Agreement for any of the
following reasons:

     (i) within 60 days of and in connection with or based upon (A) a material breach by
Company of any material provision of this Agreement, (B) a material reduction in title of
the Executive set forth in paragraph 1.2 without Executive’s consent to such reduction or
(C) any requirement that Executive relocate in violation of paragraph 1.6 (each referred to
hereinafter as “Good Reason”); provided, however, that, prior to Executive’s termination of
employment under this paragraph 2.3(i), Executive must give written notice to Company of any
such breach, reduction or requirement and such breach, reduction or requirement must remain
uncorrected for 20 days following such written notice;

     (ii) at any time after there is a Change in Control (as such term is defined in
paragraph 6.1); or

     (iii) at any time for any other reason whatsoever, in the sole discretion of Executive.

     2.4 Notice of Termination. If Company or Executive desires to terminate Executive’s
employment hereunder at any time prior to expiration of the term of employment as provided in
paragraph 2.1, it or he shall do so by giving written notice to the other party that it or he has
elected to terminate Executive’s employment hereunder and stating the effective date and reason for
such termination, provided that no such action shall alter or amend any other provisions hereof or
rights arising hereunder.

ARTICLE 3: COMPENSATION AND BENEFITS

     3.1 Base Salary. During the period of this Agreement, Executive shall receive a minimum
annual base salary of $400,000. Executive’s annual base salary shall be reviewed by the Board of
Directors (or a committee thereof) on an annual basis, and, in the sole discretion of the Board of
Directors (or such committee), such annual base salary may be increased, but not decreased,
effective as of January 1 of each year. Executive’s annual base salary shall be paid in equal
installments in accordance with the Company’s standard policy regarding payment of compensation to
executives but no less frequently than monthly.

     3.2 Incentive Compensation. Executive shall be eligible to receive incentive compensation in
such amounts and on such terms as shall be determined in the sole discretion of the Board of
Directors (or a committee thereof).

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     3.3 Other Perquisites. During his employment hereunder, Executive shall be afforded the
following benefits as incidences of his employment:

     (i) Business and Entertainment Expenses — Subject to Company’s standard policies and
procedures with respect to expense reimbursement as applied to its executive employees
generally, Company shall reimburse Executive for, or pay on behalf of Executive, reasonable
and appropriate expenses incurred by Executive for business related purposes, including dues
and fees to industry and professional organizations and costs of entertainment and business
development.

     (ii) Car Allowance — Company shall provide to Executive an automobile or automobile
allowance as approved by the Chief Executive Officer or the Board of Directors (or a
committee thereof). Notwithstanding anything in this Agreement to the contrary, any such
reimbursement shall be made no later than March 15 of the calendar year following the
calendar year in which such reimbursable expenses were incurred.

     (iii) Life Insurance — Company shall provide and pay the premiums for a term life
insurance, convertible, and renewable, on the life of Executive at a face amount not less
than twice the amount of Executive’s annual base salary. Executive shall have the right to
designate the beneficiary or beneficiaries of such term life insurance policy. Company
shall provide Executive with additional cash compensation at the end of each calendar year
to fully offset taxes attributable to Executive as a result of payment of the life insurance
premiums by the Company.

     (iv) Tax and Estate Planning Advice — Company shall pay for or reimburse the costs of
tax and estate planning advice for Executive, including the costs of preparing estate
planning and wealth preservation documents for Executive and his spouse, up to a maximum of
$25,000 in any calendar year. Company shall provide Executive with additional cash
compensation at the end of each calendar year to fully offset taxes attributable to
Executive as a result of payment of such tax and estate planning advice by the Company.
Notwithstanding anything in this Agreement to the contrary, any such reimbursement shall be
made no later than March 15 of the calendar year following the calendar year in which such
reimbursable expenses were incurred.

     (v) Other Company Benefits — Executive and, to the extent applicable, Executive’s
spouse, dependents and beneficiaries, shall be allowed to participate in all benefits, plans
and programs, including improvements or modifications of the same, which are now, or may
hereafter be, available to other executive employees of Company. Such benefits, plans and
programs shall include, without limitation, any profit sharing plan, thrift plan, health
insurance or health care plan, life insurance, disability insurance, pension plan,
supplemental retirement plan, vacation and sick leave plan, and the like which may be
maintained by Company. Company shall not, however, by reason of this paragraph be obligated
to institute, maintain, or refrain from changing, amending, or discontinuing, any such
benefit plan or program, so long as such changes are similarly applicable to executive
employees generally.

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ARTICLE 4: PROTECTION OF INFORMATION

     4.1 Disclosure to Executive. Company shall disclose to Executive, or place Executive in a
position to have access to or develop, trade secrets or confidential information of Company or its
affiliates; and/or shall entrust Executive with business opportunities of Company or its
affiliates; and/or shall place Executive in a position to develop business good will on behalf of
Company or its affiliates.

     4.2 Property of Company. All documents, drawings, memoranda, notes, records, files,
correspondence, manuals, models, specifications, computer programs, e-mail, voice mail, electronic
databases, maps, and all other writings or materials of any type embodying any information relating
to Company or its business are and shall be the sole and exclusive property of Company. Upon
termination of Executive’s employment by Company, for any reason, Executive promptly shall deliver
the same, and all copies thereof, to Company; provided, however, that Executive may retain any
Company supplied cellular telephones in his possession at the time of such termination but Company
shall be entitled to immediately discontinue the cellular service for such telephones upon such
termination of employment.

     4.3 No Unauthorized Use or Disclosure. Executive will not, at any time during or after
Executive’s employment by Company, make any unauthorized disclosure of any confidential business
information or trade secrets of Company or its affiliates, or make any use thereof, except in the
carrying out of Executive’s employment responsibilities hereunder. Affiliates of the Company shall
be third party beneficiaries of Executive’s obligations under this paragraph. As a result of
Executive’s employment by Company, Executive may also from time to time have access to, or
knowledge of, confidential business information or trade secrets of third parties, such as
customers, suppliers, partners, joint venturers, and the like, of Company and its affiliates.
Executive also agrees to preserve and protect the confidentiality of such third party confidential
information and trade secrets to the same extent, and on the same basis, as Company’s confidential
business information and trade secrets.

     4.4 Remedies. Executive acknowledges that money damages would not be sufficient remedy for
any breach of this Article by Executive, and Company shall be entitled to specific performance and
injunctive relief as remedies for such breach or any threatened breach. Such remedies shall not be
deemed the exclusive remedies for a breach of this Article, but shall be in addition to all
remedies available at law or in equity to Company, including the recovery of damages from
Executive.

ARTICLE 5: NONCOMPETITION OBLIGATIONS

     5.1 In General. As part of the consideration for the compensation and benefits to be paid to
Executive hereunder; to protect the trade secrets and confidential information of Company and its
affiliates that have been and will in the future be disclosed or entrusted to Executive, the
business good will of Company and its affiliates that has been and will in the future be developed
in Executive, or the business opportunities that have been and will in the future be disclosed or
entrusted to Executive by Company and its affiliates; and as an additional incentive for Company to
enter into this Agreement, Company and Executive agree to the noncompetition obligations hereunder.
Executive shall not, directly or indirectly for Executive

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or for others, in the State of Texas and in all parishes of the State of Louisiana and in the
U.S. Gulf of Mexico:

     (i) engage in any business competitive with the business conducted by Company during
the term of employment of Executive in such states; or

     (ii) render advice or services to, be employed by, acquire an ownership interest in, or
otherwise assist, any other person, association, or entity who is engaged, directly or
indirectly, in any business competitive with the business conducted by Company during the
term of employment of Executive in such states with respect to such competitive business,
except that Executive may hold up to 2% of the outstanding shares of any publicly held
company engaged in such competitive activities.

The noncompetition obligations set forth above shall apply only during the period that Executive is
employed by Company and for one year thereafter.

     5.2 Enforcement and Remedies. Executive acknowledges that money damages would not be
sufficient remedy for any breach of this Article by Executive, and Company shall be entitled to
specific performance and injunctive relief as remedies for such breach or any threatened breach.
Such remedies shall not be deemed the exclusive remedies for a breach of this Article, but shall be
in addition to all remedies available at law or in equity to Company, including, without
limitation, the recovery of damages from Executive.

     5.3 Reformation. It is expressly understood and agreed that Company and Executive consider
the restrictions contained in this Article to be reasonable and necessary to protect the
proprietary information of Company. Nevertheless, if any of the aforesaid restrictions are found
by a court having jurisdiction to be unreasonable, or overly broad as to geographic area or time,
or otherwise unenforceable, the parties intend for the restrictions therein set forth to be
modified by such court so as to be reasonable and enforceable and, as so modified by the court, to
be fully enforced.

ARTICLE 6: EFFECT OF TERMINATION ON COMPENSATION;

ADDITIONAL PAYMENTS

     6.1 Defined Terms. For purposes of this Article 6, the following terms shall have the
meanings indicated:

     “Change in Control” means (i) a merger of Company with another entity, a consolidation
involving Company, or the sale of all or substantially all of the assets of Company to
another entity if, in any such case, (A) the holders of equity securities of Company
immediately prior to such transaction or event do not beneficially own immediately after
such transaction or event equity securities of the resulting entity entitled to 60% or more
of the votes then eligible to be cast in the election of directors generally (or comparable
governing body) of the resulting entity in substantially the same proportions that they
owned the equity securities of Company immediately prior to such transaction or event or (B)
the persons who were members of the Board of Directors immediately prior to such transaction
or event shall not constitute at least a majority of the board of directors of the resulting
entity immediately after such transaction or event,

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(ii) the dissolution or liquidation of Company, (iii) when any person or entity (other
than Louis E. Schaefer, Jr. or Schaefer Holdings, LP or their affiliates), including a
“group” as contemplated by Section 13(d)(3) of the Securities Exchange Act of 1934, as
amended, acquires or gains ownership or control (including, without limitation, power to
vote) of more than 50% of the combined voting power of the outstanding securities of, (A) if
Company has not engaged in a merger or consolidation, Company, or (B) if Company has engaged
in a merger or consolidation, the resulting entity, or (iv) as a result of or in connection
with a contested election of directors, the persons who were members of the Board of
Directors immediately before such election shall cease to constitute a majority of the Board
of Directors. For purposes of the preceding sentence, (1) “resulting entity” in the context
of a transaction or event that is a merger, consolidation or sale of all or substantially
all assets shall mean the surviving entity (or acquiring entity in the case of an asset
sale) unless the surviving entity (or acquiring entity in the case of an asset sale) is a
subsidiary of another entity and the holders of common stock of Company receive capital
stock of such other entity in such transaction or event, in which event the resulting entity
shall be such other entity, and (2) subsequent to the consummation of a merger or
consolidation that does not constitute a Change in Control, the term “Company” shall refer
to the resulting entity and the term “Board of Directors” shall refer to the board of
directors (or comparable governing body) of the resulting entity.

     “Termination Benefits” means (i) a lump sum cash payment equal to 100% of the sum of
(A) Executive’s annual base salary at the rate in effect under paragraph 3.1 on the date of
termination of Executive’s employment and (B) the highest annual incentive compensation
payment paid to Executive by Company (pursuant to paragraph 3.2 or otherwise) during the
three years prior to the date of termination of Executive’s employment, and (ii) all of the
outstanding stock options, restricted stock or unit awards and other equity based awards
granted by Company to Executive shall become fully vested and immediately exercisable in
full on the date of termination of Executive’s employment; provided, however, that if a
Change in Control occurs prior to the earlier of the consummation of an Initial Public
Offering and June 30, 2007 and the Executive’s employment is terminated prior to the
consummation of such Change in Control, then the percentage used in clause (i) of this
definition shall be zero.

     6.2 By Expiration. If Executive’s employment hereunder shall terminate upon expiration of the
term provided in paragraph 2.1 hereof because Executive has provided the notice contemplated in
such paragraph to Company, then all compensation and all benefits to Executive hereunder shall
continue to be provided until the expiration of such term and such compensation and benefits shall
terminate contemporaneously with termination of his employment. If Executive’s employment
hereunder shall terminate upon expiration of the term provided in paragraph 2.1 hereof because
Company has provided the notice contemplated in such paragraph to Executive, then (i) all
compensation and all benefits to Executive hereunder shall continue to be provided until the
expiration of such term, (ii) such compensation and benefits shall terminate contemporaneously with
termination of his employment, and (iii) Company shall provide Executive with the Termination
Benefits. Any lump sum cash payment due to Executive pursuant to clause (iii) of the preceding
sentence shall be paid to Executive within ten business days of the date of Executive’s termination
of employment with Company; provided, however, if Section 409A of the Internal Revenue Code on
1986, as amended (“Code”), is applicable and

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Executive is a “specified employee” under Section 409A(a)(2)(B)(i) of the Code, then on or
after the six-month anniversary of the date of termination. The Executive agrees to execute a
mutual release and waiver of claims against Employer in the form attached as Exhibit A on
the date that any such lump-sum payment is paid to the Executive.

     6.3 By Company. If Executive’s employment hereunder shall be terminated by Company prior to
expiration of the term provided in paragraph 2.1, then, upon such termination, regardless of the
reason therefor, all compensation and benefits to Executive hereunder shall terminate
contemporaneously with the termination of such employment; provided, however, if Executive complies
fully with his obligations under Article 5 hereof, that:

     (i) if such termination shall be for a reason encompassed by paragraph 2.2(i), then,
for a period of 6 months beginning on the date of such termination, Company shall pay to
Executive’s designated beneficiary (or his estate if Executive does not have a beneficiary
designation on file with Company for this purpose) his base salary at the rate in effect
under paragraph 3.1 on the date of such termination;

     (ii) if such termination shall be for a reason encompassed by paragraph 2.2(ii), then,
for a period of 6 months beginning on the date of such termination, Company shall pay to
Executive (or, in the event of Executive’s death, his designated beneficiary (or his estate
if Executive does not have a beneficiary designation on file with Company for this purpose))
his base salary at the rate in effect under paragraph 3.1 on the date of such termination;

     (iii) if such termination shall be for a reason encompassed by paragraphs 2.2(i) or
(ii), all of the outstanding stock options, restricted stock or unit awards and other equity
based awards granted by Company to Executive shall become fully vested and immediately
exercisable in full on the date of termination of Executive’s employment; and

     (iv) if such termination shall be for any reason other than those encompassed by
paragraphs 2.2(i), (ii), or (iii), then Company shall provide Executive with the Termination
Benefits. Any lump sum cash payment due to Executive pursuant to the preceding sentence
shall be paid to Executive within ten business days of the date of Executive’s termination
of employment with Company; provided that, if Section 409A of the Code is applicable and
Executive is a “specified employee” under Section 409A(a)(2)(B)(i) of the Code, then on or
after the six-month anniversary of the date of termination. The Executive agrees to execute
a mutual release and waiver of claims against Employer in the form attached as Exhibit
A on the date that any such lump-sum payment is paid to the Executive.

     6.4 By Executive. If Executive’s employment hereunder shall be terminated by Executive prior
to expiration of the term provided in paragraph 2.1, then, upon such termination, regardless of the
reason therefor, all compensation and benefits to Executive hereunder shall terminate
contemporaneously with the termination of such employment; provided, however, if Executive complies
fully with his obligations under Article 5 hereof, that:

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     (i) if such termination occurs for a reason encompassed by paragraph 2.3(i), then
Company shall provide Executive with the Termination Benefits; and

     (ii) if such termination shall occur within the 180-day period beginning on the date
upon which a Change in Control occurs, then Company shall provide Executive with the
Termination Benefits.

If Executive is entitled to Termination Benefits under either clause (i) or clause (ii) of the
preceding sentence, then Executive shall not also be entitled to additional Termination Benefits
under the other clause. Any lump sum cash payment due to Executive pursuant to this paragraph
shall be paid to Executive within ten business days of the date of Executive’s termination of
employment with Company; provided, however, if Section 409A of the Code is applicable and Executive
is a “specified employee” under Section 409A(a)(2)(B)(i) of the Code, then on or after the
six-month anniversary of the date of termination. The Executive agrees to execute a mutual release
and waiver of claims against Employer in the form attached as Exhibit A on the date that
any such lump-sum payment is paid to the Executive.

     6.5 Additional Payments by Company. Notwithstanding anything to the contrary in this
Agreement, in the event that any payment or distribution by Company to or for the benefit of
Executive, whether paid or payable or distributed or distributable pursuant to the terms of this
Agreement or otherwise (a “Payment”), would be subject to the excise tax imposed by Section 4999 of
the Internal Revenue Code of 1986, as amended, or any interest or penalties with respect to such
excise tax (such excise tax, together with any such interest or penalties, are hereinafter
collectively referred to as the “Excise Tax”), Company shall pay to Executive an additional payment
(a “Gross-up Payment”) in an amount such that after payment by Executive of all taxes (including
any interest or penalties imposed with respect to such taxes), including any Excise Tax imposed on
any Gross-up Payment, Executive retains an amount of the Gross-up Payment equal to the Excise Tax
imposed upon the Payments. Company and Executive shall make an initial determination as to whether
a Gross-up Payment is required and the amount of any such Gross-up Payment. Executive shall notify
Company in writing of any claim by the Internal Revenue Service which, if successful, would require
Company to make a Gross-up Payment (or a Gross-up Payment in excess of that, if any, initially
determined by Company and Executive) within 10 days of the receipt of such claim. Company shall
notify Executive in writing at least 10 days prior to the due date of any response required with
respect to such claim if it plans to contest the claim. If Company decides to contest such claim,
Executive shall cooperate fully with Company in such action; provided, however, Company shall bear
and pay directly or indirectly all costs and expenses (including additional interest and penalties)
incurred in connection with such action and shall indemnify and hold Executive harmless, on an
after-tax basis, for any Excise Tax or income tax, including interest and penalties with respect
thereto, imposed as a result of Company’s action. If, as a result of Company’s action with respect
to a claim, Executive receives a refund of any amount paid by Company with respect to such claim,
Executive shall promptly pay such refund to Company. If Company fails to timely notify Executive
whether it will contest such claim or Company determines not to contest such claim, then Company
shall immediately pay to Executive the portion of such claim, if any, which it has not previously
paid to Executive.

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     6.6 No Duty to Mitigate Losses. Executive shall have no duty to find new employment following
the termination of his employment under circumstances which require Company to pay any amount to
Executive pursuant to this Article 6. Any salary or remuneration received by Executive from a
third party for the providing of personal services (whether by employment or by functioning as an
independent contractor) following the termination of his employment under circumstances pursuant to
which this Article 6 apply shall not reduce Company’s obligation to make a payment to Executive (or
the amount of such payment) pursuant to the terms of this Article 6.

     6.7 Liquidated Damages. In light of the difficulties in estimating the damages for an early
termination of this Agreement, Company and Executive hereby agree that the payments, if any, to be
received by Executive pursuant to this Article 6 shall be received by Executive as liquidated
damages.

     6.8 Other Benefits. This Agreement governs the rights and obligations of Executive and
Company with respect to Executive’s base salary and certain perquisites of employment. Except as
expressly provided herein, Executive’s rights and obligations both during the term of his
employment and thereafter with respect to stock options, restricted units or stock, incentive and
deferred compensation, life insurance policies insuring the life of Executive, and other benefits
under the plans and programs maintained by Company shall be governed by the separate agreements,
plans and other documents and instruments governing such matters.

ARTICLE 7: MISCELLANEOUS

     7.1 Notices. For purposes of this Agreement, notices and all other communications provided
for herein shall be in writing and shall be deemed to have been duly given when personally
delivered or when mailed by United States registered or certified mail, return receipt requested,
postage prepaid, addressed as follows:

	 	 	 
	If to Company to:

	 	Superior Offshore International, Inc.
	 

	 	900 S. College Road, Suite 301
	 

	 	Lafayette, Louisiana 70503
	 

	 	Attention: Chairman of the Board
	 
	 	 
	 

	 	with a copy to (which copy shall not constitute notice):
	 
	 	 
	 

	 	Bracewell & Giuliani LLP
	 

	 	711 Louisiana Street, Suite 2300
	 

	 	Houston, Texas 77002
	 

	 	Attention: William S. Anderson
	 

	 	Telephone: (713) 221-1122
	 

	 	Facsimile: (713) 437-5370
	 
	 	 
	If to Executive to:

	 	Patrice Chemin
	 

	 	c/o Superior Offshore International, Inc.

	 

	 	9302 Lambright Road
	 

	 	Houston, Texas 77075

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or to such other address as either party may furnish to the other in writing in accordance
herewith, except that notices or changes of address shall be effective only upon receipt.

     7.2 Applicable Law. This Agreement is entered into under, and shall be governed for all
purposes by, the laws of the State of Texas. Any cause of action arising between the parties
regarding this Agreement shall be brought only in a court having jurisdiction over the Company in
Houston, Harris County, Texas. Executive consents to personal jurisdiction in any State or Federal
court of competent jurisdiction over the Company in Houston, Harris County, Texas and waives any
entitlement he might otherwise have to a transfer of venue under the preferred venue requirements
of State or Federal rules of civil procedure rules.

     7.3 No Waiver. No failure by either party hereto at any time to give notice of any breach by
the other party of, or to require compliance with, any condition or provision of this Agreement
shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any
prior or subsequent time.

     7.4 Severability. If a court of competent jurisdiction determines that any provision of this
Agreement is invalid or unenforceable, then the invalidity or unenforceability of that provision
shall not affect the validity or enforceability of any other provision of this Agreement, and all
other provisions shall remain in full force and effect.

     7.5 Counterparts. This Agreement may be executed in one or more counterparts, each of which
shall be deemed to be an original, but all of which together will constitute one and the same
Agreement.

     7.6 Withholding of Taxes and Other Employee Deductions. Company may withhold from any
benefits and payments made pursuant to this Agreement all federal, state, city and other taxes as
may be required pursuant to any law or governmental regulation or ruling and all other normal
employee deductions made with respect to Company’s employees generally.

     7.7 Headings. The paragraph headings have been inserted for purposes of convenience and shall
not be used for interpretive purposes.

     7.8 Gender and Plurals. Wherever the context so requires, the masculine gender includes the
feminine or neuter, and the singular number includes the plural and conversely.

     7.9 Affiliate. As used in this Agreement, the term “affiliate” shall mean any entity which
owns or controls, is owned or controlled by, or is under common ownership or control with, Company.

     7.10 Assignment. This Agreement shall be binding upon and inure to the benefit of Company and
any successor of Company, by merger or otherwise. Except as provided in the preceding sentence,
this Agreement, and the rights and obligations of the parties hereunder, are personal and neither
this Agreement, nor any right, benefit, or obligation of either party hereto, shall be subject to
voluntary or involuntary assignment, alienation or transfer, whether by operation of law or
otherwise, without the prior written consent of the other party.

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     7.11 Term. This Agreement has a term co-extensive with the term of employment provided in
paragraph 2.1. Termination shall not affect any right or obligation of any party which is accrued
or vested prior to such termination.

     7.12 Release. The Executive hereby irrevocably releases the Company and its predecessors
(including Superior Offshore International, L.L.C.) and each and every affiliate, officer, member,
shareholder, manager, director and employee of the Company and its predecessors (including Superior
Offshore International, L.L.C.) (the “Releasees”) from any claims, liabilities, costs, expenses,
actions, suits or demands however arising, whether at law or in equity, contingent, known or
unknown, which the Executive or his heirs, successors or assigns may have or assert against the
Releasees as of the date of the Effective Date in respect of any ownership interest in the
Releasees or in connection with or arising out of any employment relationship with the Releasees
prior to the Effective Date (including claims for breach of any contract relating to employment or
compensation, or for discrimination based upon race, color, ethnicity, sex, age, national origin,
religion, disability, sexual orientation, or any other unlawful criterion or circumstance);
provided, however, that this release shall not apply to the Executive’s rights to accrued but
unpaid salary, accrued but unpaid vacation and unpaid reimbursable expenses, in each case to the
extent accrued prior to the Effective Date; provided, further, that this release shall not apply to
any rights, benefits, obligations or restrictions arising under this Agreement or the Restricted
Stock Agreement on or after the Effective Date.

     7.13 Entire Agreement. This Agreement and the Restricted Stock Agreement constitute the
entire agreement of the parties with regard to the subject matter hereof and thereof and supersede
all prior agreements and understandings, oral or written, between the parties with respect to the
subject matter hereof and thereof, and contain all the covenants, promises, representations,
warranties and agreements between the parties with respect to employment of Executive by Company or
any of its predecessors (including Superior Offshore International, L.L.C.). Without limiting the
scope of the preceding sentence, all understandings and agreements between the Executive, on the
one hand, and the Company or any of its predecessors or their respective shareholders, members,
managers or officers, on the other hand, preceding the date of execution of this Agreement and the
Restricted Stock Agreement and relating to the subject matter hereof or thereof are hereby null and
void and of no further force and effect. Any modification of this Agreement will be effective only
if it is in writing and signed by the party to be charged.

[Signatures Appear on Next Page]

- 12 -

 

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the 2nd day
of April, 2007, to be effective as of the Effective Date.

	 	 	 	 	 	 	 	 	 
	 	 	SUPERIOR OFFSHORE INTERNATIONAL, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:
	 	 	 	/s/ Louis E. Schaefer, Jr.	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	Louis E. Schaefer, Jr.	 	 
	 

	 	 	 	Title:
	 	Chairman of the Board of Directors	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	/s/ Patrice Chemin	 	 
	 	 	 	 	 
	 	 	Patrice Chemin	 	 

[Signature Page to Employment Agreement]

 

 

EXHIBIT A

GENERAL RELEASE

     THIS GENERAL RELEASE is entered into among Superior Offshore International, Inc., a Delaware
corporation (“Employer”), and
                     (the “Employee”) as of the ___ day of
                    . The Employer and the Employee agree as follows:

          1. Employment Status. The Employee’s employment with the Employer shall terminate
effective as of                     ,
                    .

          2. Payment and Benefits. Upon the effectiveness of this Release as set forth in
Paragraphs 12 and 13 hereof, Employer shall provide the Employee with the payments and benefits set
forth in Paragraph [6.2, 6.3 or 6.4] of the Employment Agreement among the Employer and the
Employee, dated as of                     , 2007 (as amended from time to time, the “Employment
Agreement”).

          3. No Liability. This Release does not constitute an admission by the Employer, or
any of its subsidiaries, affiliates, divisions, trustees, officers, directors, partners, agents, or
employees, or by the Employee, of any unlawful acts or of any violation of federal, state or local
laws.

          4. Employee Release. In consideration of the payments and benefits set forth in
Paragraph [6.2, 6.3 or 6.4] of the Employment Agreement, the Employee for himself, his heirs,
administrators, representatives, executors, successors and assigns (collectively, “Employee
Releasors”) does hereby irrevocably and unconditionally release, acquit and forever discharge
the Employer and each of its subsidiaries, affiliates, divisions, successors, assigns, trustees,
officers, directors, partners, agents, and former and current employees, including without
limitation all persons acting by, through, under or in concert with any of them (collectively,
“Employer Releasees”), and each of them from any and all charges, complaints, claims,
liabilities, obligations, promises, agreements, controversies, damages, remedies, actions, causes
of action, suits, rights, demands, costs, losses, debts and expenses (including attorneys’ fees and
costs) of any nature whatsoever, known or unknown, whether pursuant to contract or in law or equity
or otherwise and whether arising under any and all federal, state, local, county and/or municipal
statutes, regulations, rules, and/or ordinances, including, without limitation, Title VII of the
Civil Rights Act of 1964; the Age Discrimination in Employment Act, the Americans with Disabilities
Act, the Older Workers Benefit Protection Act, the Equal Pay Act of 1962, Chapter 21 of the Texas
Labor Code and Section 451 of the Texas Labor Code and/or claims under the Constitutions of the
United States and/or the State of Texas or any other unlawful criterion or circumstance, which
Employee Releasors had, now have, or may have or claim to have in the future against each or any of
the Employer Releasees by reason of any matter, cause or thing occurring, done or omitted to be
done from the beginning of the world until the date of the execution of this Release (the
“Employee Released Claims”); provided, however, that nothing herein shall
release Employer from any right of indemnification or to director and officer liability insurance
coverage under any Employer organizational documents or at law under any plan or agreement and
applicable to the Employee.

 

 

     Nothing in this Release is intended to interfere with the Employee’s right to make a complaint
or claim with a federal or state administrative agency including, for example, the National Labor
Relations Board, the Equal Employment Opportunity Commission or the Texas Workforce Commission.
However, by executing this Release, the Employee hereby waives the right to recover in any
proceeding that the Employee may bring before the Equal Employment Opportunity Commission or any
federal or state administrative agency or in any proceeding brought by the Equal Employment
Opportunity Commission or any state human rights commission on the Employee’s behalf. In addition,
this release is not intended to interfere with the Employee’s right to challenge that his waiver of
any and all ADEA claims pursuant to this Release is a knowing and voluntary waiver, notwithstanding
the Employee’s specific representation to the Employer Group that he has entered into this
Agreement knowingly and voluntarily and that he has been advised by the Employer Group to consult
with an attorney of his choice regarding same.

          5. Employer Release. The Employer on behalf of itself and its subsidiaries,
affiliates, divisions, successors, assigns, officers, directors, agents, partners and current and
former employees (collectively, the “Employer Releasors” and together with the Employee
Releasors, the “Releasing Parties”) agrees to and does hereby irrevocably and
unconditionally release, acquit and forever discharge the Employee, and his heirs, executors,
administrators, representatives, successors and assigns (hereinafter collectively referred to as
the “Employee Releasees”), with respect to and from any and all charges, complaints,
claims, liabilities, obligations, promises, agreements, controversies, damages, remedies, causes of
action, suits, rights, demands, costs, losses, debts, and expenses (including attorneys’ fees and
costs) of any kind whatsoever, known or unknown, whether in law or equity and whether arising under
federal, state or local law, which the Releasors had, now have, or may have or claim to have in the
future against each or any of the Employee Releasees by reason of any matter, course or thing
whatsoever from the beginning of the world until the date of execution of this Release (the
“Employer Released Claims” and, together with the Employee Released Claims, the
“Released Claims”); provided, however, that nothing herein shall release
the Employee from (i) obligations or restrictions arising under or referred to or described in the
Employment Agreement and nothing herein shall impair the right or ability of Employer to enforce
such provisions in accordance with the terms of the Employment Agreement or (ii) any claims arising
out of the Employee’s fraud or willful misconduct in connection with the conduct of the business of
the Employer Group.

          6. No Additional Facts; Bar. Each of the Releasing Parties hereby expressly waives
any rights such Releasing Party may have under the statutes of any jurisdiction or common law
principles of similar effect, to preserve Released Claims that such Releasing Party does not know
or suspect to exist in such Releasing Party’s favor at the time of executing this Release. Each of
the Releasing Parties understands and acknowledges that it may discover facts different from, or in
addition to, those which it knows or believes to be true with respect to the claims released
herein, and agrees that this release shall be and remain effective in all respects notwithstanding
any subsequent discovery of different and/or additional facts. Should any Releasing Party discover
that any fact relied upon in entering into this release was untrue, or that any fact was concealed,
or that an understanding of the facts or law was incorrect, no Releasing Party shall be entitled to
any relief as a result thereof, and the undersigned surrenders any rights it might have to rescind
this release on any ground. This release is intended to be and

 

 

is final and binding regardless of any claim of misrepresentation, promise made with the
intention of performing, concealment of fact, mistake of law, or any other circumstances
whatsoever. The Employee acknowledges and agrees that if he should hereafter make any claim or
demand or commence or threaten to commence any action, claim or proceeding against the Employer
Releasees with respect to any cause, matter or thing which is the subject of the release under
Paragraph 4 of this Release, this Release may be raised as a complete bar to any such action, claim
or proceeding, and the applicable Employer Releasee may recover from the Employee all costs
incurred in connection with such action, claim or proceeding, including attorneys’ fees. The
Employer Group acknowledges and agrees that if it should hereafter make any claim or demand or
commence or threaten to commence any action, claim or proceeding against any of the Employee
Releasees with respect to any cause, matter or thing which is the subject of the release under
Paragraph 5 of this Release, this Release may be raised as a complete bar to any such action, claim
or proceeding, and the applicable Employee Releasee may recover from Employer all costs incurred in
connection with such action, claim or proceeding, including attorneys’ fees.

     7. Restrictive Covenants. The Employee acknowledges that the provisions of Article 4
and Article 5 of the Employment Agreement shall continue to apply pursuant to their terms
notwithstanding the termination of the Employment Agreement.

     8. No Assignment of Released Claims. Each Releasing Party represents and warrants to
the Released Parties that there has been no assignment or other transfer of any interest in any
Released Claim.

     9. Severability. If any provision of this Release is held invalid or unenforceable by
any court of competent jurisdiction, the other provisions of this Release will remain in full force
and effect. Any provision of this Release held invalid or unenforceable only in part of degree
will remain in full force and effect to the extent not held invalid or unenforceable.

     10. Amendment. This Release may not be amended, modified or waived except in a
writing signed by the party against whom any such amendment, modification or waiver is sought to be
enforced.

     11. Governing Law. This Release shall be governed by and construed in accordance with
the laws of the State of Texas, without regard to conflicts of laws principles.

     12. Acknowledgment. The parties hereto have read this Release, understand it, and
voluntarily accept its terms, and the Employee acknowledges that he has been advised by Employer to
seek the advice of legal counsel before entering into this Release, and has been provided with a
period of twenty-one (21) days in which to consider entering into this Release.

     13. Revocation. The Employee has a period of seven (7) days following the execution
of this Release during which the Employee may revoke this Release, and this Release shall not
become effective or enforceable until such revocation period has expired. If, within the ten (10)
day period following such expiration, Employer fails to execute this Release, then this Release
shall become null and void and have no force or effect.

 

 

          14. Counterparts. This Release may be executed by the parties hereto in counterparts,
which taken together shall be deemed one original.

     IN WITNESS WHEREOF, the parties have executed this Release on the date first set forth above.

	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Executive	 	 
	 
	 	 	 	 	 	 
	 	 	Superior Offshore International, Inc.	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Title:exv4w1

 

Exhibit 4.1

          INDENTURE
dated as of May 16, 2007, between Swift Energy Company, a corporation duly
organized and existing under the laws of the State of Texas (hereinafter sometimes called the
“Company”), and Wells Fargo Bank, National Association (hereinafter sometimes called the
“Trustee”).

RECITALS OF THE COMPANY

          The Company has duly authorized the execution and delivery of this Indenture to provide for
the issuance from time to time of its debentures, notes, bonds or other evidences of indebtedness
to be issued in one or more series unlimited as to principal amount (herein called the “Debt
Securities”), as in this Indenture provided.

          All things necessary to make this Indenture a valid agreement to the Company, in accordance
with its terms, have been done.

NOW, THEREFORE, THIS INDENTURE WITNESSETH

          That in order to declare the terms and conditions upon which the Debt Securities are
authenticated, issued and delivered, and in consideration of the premises, and of the purchase and
acceptance of the Debt Securities by the holders thereof, the Company and the Trustee covenant and
agree with each other, for the benefit of the respective Holders from time to time of the Debt
Securities or any series thereof, as follows:

ARTICLE I

Definitions

          SECTION 1.01. Certain Terms Defined. The terms defined in this Section 1.01 (except
as herein otherwise expressly provided or unless the context otherwise requires) for all purposes
of this Indenture and of any Indenture supplemental hereto shall have the respective meanings
specified in this Section 1.01. All other terms used in this Indenture which are defined in the
Trust Indenture Act or which are by reference therein defined in the Securities Act (except as
herein otherwise expressly provided or unless the context otherwise requires), shall have the
meanings assigned to such terms in the Trust Indenture Act and in the Securities Act as in force as
of the date of original execution of this Indenture.

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

-1-

 

          “Authorized Newspaper” means a newspaper in an official language of the country of
publication customarily published at least once a day, and customarily published for at least five
days in each calendar week, and of general circulation in such city or cities specified pursuant to
Section 2.03 with respect to the Debt Securities of any series. Where successive publications are
required to be made in Authorized Newspapers, the successive publications may be made in the same
or in different newspapers in the same city meeting the foregoing requirements and in each case on
any business day in such city.

          “Bank Indebtedness” means any and all amounts payable under or in respect of (i) the
Credit Agreement, as supplemented, amended, modified, refinanced or replaced at any time from time
to time, and (ii) any lines of credit and letters of credit of the Company, in each case, including
principal, premium (if any), interest (including interest accruing on or after the filing of any
petition in bankruptcy or for reorganization relating to the Company whether or not a claim for
post-filing interest is allowed in such proceedings), fees, charges, expenses, reimbursement
obligations, guarantees and all other amounts payable thereunder or in respect thereof.

          “Banks” has the meaning specified in the Credit Agreement.

          “Board of Directors” means either the Board of Directors of the Company or any duly
authorized committee or subcommittee of such Board, except as the context may otherwise require.

          “business day” means, when used with respect to any Place of Payment specified
pursuant to Section 2.03, any day that is not a Saturday, a Sunday or a legal holiday or a day on
which banking institutions or trust companies in such Place of Payment are authorized or obligated
by law to close, except as otherwise specified pursuant to Section 2.03.

          “Capitalized Lease Obligation” means an obligation that is required to be classified
and accounted for as a capitalized lease for financial reporting purposes in accordance with GAAP;
and the amount of Indebtedness represented by such obligation shall be the capitalized amount of
such obligation determined in accordance with GAAP; and the Stated Maturity thereof shall be the
date of the last payment of rent or any other amount due under such lease prior to the first date
upon which such lease may be terminated by the lessee without payment of a penalty.

          “Capital Stock” of any Person means any and all shares, interests, rights to purchase,
warrants, options, participations or other equivalents of or interests (including partnership
interests) in (however designated) equity of such Person, including any Preferred Stock, but
excluding any debt securities convertible into such equity.

          “Commodity Price Protection Agreement” means, in respect of any Person, any forward
contract, commodity swap agreement, commodity option agreement or other similar agreement or
arrangement designed to protect such Person against fluctuations in commodity prices.

-2-

 

          “Common Stock” means the common stock ($0.01 par value), of the Company, which stock
is currently listed on the New York Stock Exchange.

          “Company” means Swift Energy Company, a Texas corporation, and, subject to the
provisions of Article X, shall also include its successors and assigns.

          “Company Order” means a written order of the Company, signed by its Chairman of the
Board, President or any Vice President and by its Treasurer, Secretary, any Assistant Treasurer or
any Assistant Secretary.

          “Corporate trust office of the Trustee” or other similar term means the office of the
Trustee at which the corporate trust business of the Trustee shall, at any particular time, be
principally administered in the United States of America, which
office at the date of execution is located at Wells Fargo Bank,
National Association, 1445 Ross Avenue, 2nd floor,
Attn: Corporate Trust Services, Dallas TX 75202-2812.

          “Credit Agreement” means the First Amended and Restated Credit Agreement effective
June 29, 2004, as amended by the First Amendment to First Amended and Restated Credit Agreement
effective November 1, 2005, by the Second Amendment to First Amended and Restated Credit Agreement
effective December 28, 2005 and by the Third Amendment to First Amended and Restated Credit
Agreement effective October 2, 2006, among the Company, Swift Energy Operating, LLC, the Banks
party thereto, and J.P. Morgan Chase Bank, N.A., as administrative agent, and as supplemented,
amended, modified, refinanced or replaced at any time thereafter from time to time.

          “Currency” means Dollars or Foreign Currency.

          “Currency Exchange Protection Agreement” means, in respect of any Person, any foreign
exchange contract, currency swap agreement, currency option or other similar agreement or
arrangement designed to protect such Person against fluctuations in currency exchange rates.

          “Debt Security” or “Debt Securities” has the meaning stated in the first
recital of this Indenture and more particularly means any debt security or debt securities, as the
case may be, of any series authenticated and delivered under this Indenture.

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

          “Depositary” means, unless otherwise specified by the Company pursuant to either
Section 2.03 or 2.15, with respect to registered Debt Securities of any series issuable or issued
in whole or in part in the form of one or more Global Securities, The Depository Trust Company, New
York, New York, or any successor thereto registered as a clearing agency under the Exchange Act or
other applicable statute or regulations.

-3-

 

          “Designated Senior Indebtedness” means (i) the Bank Indebtedness and (ii) any other
Senior Indebtedness of the Company.

          “Disqualified Stock” of a Person means Redeemable Stock of such Person as to which the
maturity, mandatory redemption, conversion or exchange or redemption at the option of the holder
thereof occurs, or may occur, on or prior to the Stated Maturity of the Debt Securities.

          “Dollar” or “$” means such currency of the United States as at the time of
payment is legal tender for the payment of public and private debts.

          “Dollar Equivalent” means, with respect to any monetary amount in a Foreign Currency,
at any time for the determination thereof, the amount of Dollars obtained by converting such
Foreign Currency involved in such computation into Dollars at the spot rate for the purchase of
Dollars with the applicable Foreign Currency as quoted by Citibank, N.A. (unless another comparable
financial institution is designated by the Company) in New York, New York at approximately 11:00
a.m. (New York time) on the date two business days prior to such determination.

          “Event of Default” has the meaning specified in Section 6.01.

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

          “Floating Rate Security” means a Debt Security that provides for the payment of
interest at a variable rate determined periodically by reference to an interest rate index
specified pursuant to Section 2.03.

          “Foreign Currency” means a currency issued or adopted by the government of any country
other than the United States or a composite currency the value of which is determined by reference
to the values of the currencies of any group of countries.

          “GAAP” means generally accepted accounting principles in the United States as in
effect as of the date on which the Debt Securities of the applicable series are issued, including
those set forth in the opinions and pronouncements of the Accounting Principles Board of the
American Institute of Certified Public Accountants and statements and pronouncements of the
Financial Accounting Standards Board or in such other statements by such other entity as approved
by a significant segment of the accounting profession. All ratios and computations based on GAAP
contained in this Indenture shall be computed in conformity with GAAP consistently applied.

          “Global Security” means with respect to any series of Debt Securities issued
hereunder, a Debt Security which is executed by the Company and authenticated and delivered by the
Trustee to the Depositary or pursuant to the Depositary’s instruction, all in accordance with this
Indenture and any Indentures supplemental hereto, or resolution of the Board of Directors and set
forth in an Officers’ Certificate, which shall be registered in the name of the Depositary or its
nominee and which shall represent, and shall be denominated in an amount equal to the aggregate
principal amount of, all the Outstanding Debt Securities of such series or
 

-4-

 

any portion thereof, in
either case having the same terms, including, without limitation, the same original issue date,
date or dates on which principal is due and interest rate or method of determining interest.

          “Government Contract Lien” means any Lien required by any contract, statute,
regulation or order in order to permit the Company or any of its Subsidiaries to perform any
contract or subcontract made by it with or at the request of the United States or any State thereof
or any department, agency or instrumentality of either or to secure partial, progress, advance or
other payments by the Company or any of its Subsidiaries to the United States or any State thereof
or any department agency or instrumentality of either pursuant to the provisions of any contract,
statute, regulation or order.

          “Guarantee” means any obligation, contingent or otherwise, of any Person directly or
indirectly guaranteeing any Indebtedness or other obligation of any other Person and any
obligation, direct or indirect, contingent or otherwise, of such Person (i) to purchase or pay (or
advance or supply funds for the purchase or payment of) such Indebtedness or other obligation of
such other Person or (ii) entered into for purposes of assuring in any other manner the obligee of
such Indebtedness or other obligation of the payment thereof or to protect such obligee against
loss in respect thereof (in whole or in part); provided, however, that the term
“Guarantee” shall not include endorsements for collection or deposit in the ordinary course of
business. The term “Guarantee” used as a verb has a corresponding meaning.

          “Hedging Obligations” of any Person means the obligations of such Person pursuant to
any Interest Rate Protection Agreement, Currency Exchange Protection Agreement or Commodity Price
Protection Agreement or other similar agreement.

          “Holder,” “Holder of Debt Securities” or other similar terms mean, with
respect to a Registered Security, the Registered Holder.

          “Incur” means issue, assume, Guarantee, incur or otherwise become liable for;
provided, however, that any Indebtedness or Capital Stock of a Person existing at
the time such Person becomes a Subsidiary (whether by merger, consolidation, acquisition or
otherwise) shall be deemed to be incurred by such Subsidiary at the time it becomes a Subsidiary.
The terms “Incurred”, “Incurrence” and “Incurring” shall each have a correlative meaning.

          “Indebtedness” means, with respect to any Person on any date of determination (without
duplication),

     (i) the principal of Indebtedness of such Person for borrowed money;

     (ii) the principal of obligations of such Person evidenced by bonds, debentures, notes
or other similar instruments;

     (iii) all Capitalized Lease Obligations of such Person;

     (iv) all obligations of such Person to pay the deferred and unpaid purchase price of
property or services (except Trade Payables);

-5-

 

     (v) all obligations of such Person in respect of letters of credit, banker’s
acceptances or other similar instruments or credit transactions (including reimbursement
obligations with respect thereto), other than obligations with respect to letters of credit
securing obligations (other than obligations described in (i) through (iv) above) entered
into in the ordinary course of business of such Person to the extent such letters of credit
are not drawn upon or, if and to the extent drawn upon, such drawing is reimbursed no later
than the third business day following receipt by such Person of a demand for reimbursement
following payment on the letter of credit;

     (vi) the amount of all obligations of such Person with respect to the redemption,
repayment or other repurchase of any Disqualified Stock (but excluding, in each case, any
accrued dividends);

     (vii) all Indebtedness of other Persons secured by a Lien on any asset of such Person,
whether or not such Indebtedness is assumed by such Person; provided,
however, that the amount of such Indebtedness shall be the lesser of (A) the fair
market value of such asset at such date of determination and (B) the amount of such
Indebtedness of such other Persons; and

     (viii) all Indebtedness of other Persons to the extent Guaranteed by such Person.

For purposes of this definition, the maximum fixed redemption, repayment or repurchase price
of any Disqualified Stock or Preferred Stock that does not have a fixed redemption, repayment or
repurchase price shall be calculated in accordance with the terms of such Stock as if such Stock
were redeemed, repaid or repurchased on any date on which Indebtedness shall be required to be
determined pursuant to this Indenture.

          “Indenture” means this instrument as originally executed, or, if amended or
supplemented as herein provided, as so amended or supplemented and shall include the form and terms
of particular series of Debt Securities as contemplated hereunder, whether or not a supplemental
indenture is entered into with respect thereto.

          “Interest Rate Protection Agreement” means, in respect of any Person, any interest
rate swap agreement, interest rate option agreement, interest rate cap agreement, interest rate
collar agreement, interest rate floor agreement or other similar agreement or arrangement designed
to protect such Person against fluctuations in interest rates.

          “Lien” means any mortgage, pledge, security interest, encumbrance, lien or charge of
any kind (including any conditional sale or other title retention agreement or lease in the nature
thereof).

          “Officers’ Certificate” means a certificate signed by the Chairman of the Board, the
President or any Vice President and by the Treasurer, chief accounting officer, the Secretary or
any Assistant Treasurer or Assistant Secretary of the Company. Each such certificate shall include
the statements provided for in Section 13.05, if applicable.

-6-

 

          “Opinion of Counsel” means an opinion in writing signed by legal counsel for the
Company (which counsel may be an employee of the Company), or outside counsel for the Company.
Each such opinion shall include the statements provided for in Section 13.05, if applicable.

          “Original Issue Discount Debt Security” means any Debt Security that provides for an
amount less than the principal amount thereof to be due and payable upon a declaration or
acceleration of the maturity thereof pursuant to Section 6.01.

          “Outstanding” when used with respect to any series of Debt Securities, means, as of
the date of determination, all Debt Securities of that series theretofore authenticated and
delivered under this Indenture, except:

     (i) Debt Securities of that series theretofore canceled by the Trustee or
delivered to the Trustee for cancellation;

     (ii) Debt Securities of that series for whose payment or redemption money in the
necessary amount has been theretofore deposited with the Trustee or any paying agent (other
than the Company) in trust or set aside and segregated in trust by the Company (if the
Company shall act as its own paying agent) for the holders of such Debt Securities;
provided, that, if such Debt Securities are to be redeemed, notice of such redemption has
been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee
has been made; and

     (iii) Debt Securities of that series which have been paid pursuant to Section 2.09 or
in exchange for or in lieu of which other Debt Securities have been authenticated and
delivered pursuant to this Indenture, other than any such Debt Securities in respect of
which there shall have been presented to the Trustee proof satisfactory to it that such Debt
Securities are held by a bona fide purchaser in whose hands such Debt Securities are valid
obligations of the Company;

provided, however, that in determining whether the Holders of the requisite
principal amount of the Outstanding Debt Securities of any series have given any request, demand,
authorization, direction, notice, consent or waiver hereunder, Debt Securities owned by the Company
or any other obligor upon the Debt Securities or any Affiliate of the Company or of such other
obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether
the Trustee shall be protected in relying upon any such request, demand, authorization, direction,
notice, consent or waiver, only Debt Securities which the Trustee knows to be so owned shall be so
disregarded. Debt Securities so owned which have been pledged in good faith may be regarded as
Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to
act with respect to such Debt Securities and that the pledgee is not the Company or any other
obligor upon the Debt Securities or an Affiliate of the Company or of such other obligor. In
determining whether the Holders of the requisite principal amount of outstanding Debt Securities
have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the
principal amount of an original Issue Discount Debt Security that shall be deemed to be Outstanding
for such purposes shall be the amount of the principal thereof that would be due and payable as of
the date of such determination upon a declaration of acceleration

-7-

 

of the maturity thereof pursuant
to Section 6.01. In determining whether the Holders of the requisite principal amount of the
Outstanding Debt Securities of any series have given any request, demand, authorization, direction,
notice, consent or waiver hereunder, the principal amount of a Debt Security denominated in one or
more foreign currencies or currency units that shall be deemed to be Outstanding for such purposes
shall be the Dollar Equivalent, determined in the manner provided as contemplated by Section 2.03
on the date of original issuance of such Debt Security, of the principal amount (or, in the case of
any Original Issue Discount Security, the Dollar Equivalent on the date of original issuance of
such Security of the amount determined as provided in the preceding sentence above) of such Debt
Security.

          “pari passu”, as applied to the ranking of any Indebtedness of a Person in relation to
other Indebtedness of such Person, means that each such Indebtedness either (i) is not subordinate
in right of payment to any Indebtedness, or (ii) is subordinate in right of payment to the same
Indebtedness as is the other, and is so subordinate to the same extent, and is not subordinate in
right of payment to each other or to any Indebtedness as to which the other is not so subordinate.

          “Permitted Liens” means, with respect to any Person, (a) pledges or deposits by such
Person under worker’s compensation laws, unemployment insurance laws, social security laws or
similar legislation, or good faith deposits in connection with bids, tenders, contracts (other than
for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure
public or statutory obligations of such Person or deposits of cash or bonds to secure performance,
surety or appeal bonds to which such Person is a party or which are otherwise required of such
Person, or deposits as security for contested taxes or import duties or for the payment of rent or
other obligations of like nature, in each case Incurred in the ordinary course of business; (b)
Liens imposed by law, such as carriers’, warehousemen’s, laborers’, materialmen’s, landlords’,
vendors’, workmen’s, operators’, factors and mechanics liens, in each case for sums not yet due or
being contested in good faith by appropriate proceedings; (c) Liens for taxes, assessments and
other governmental charges or levies not yet delinquent or which are being contested in good faith
by appropriate proceedings; (d) survey exceptions, encumbrances, easements or reservations of or
with respect to, or rights of others for or with respect to, licenses, rights-of-way, sewers,
electric and other utility lines and usages, telegraph and telephone lines, pipelines, surface use,
operation of equipment, permits, servitudes and other similar matters, or zoning or other
restrictions as to the use of real property or Liens incidental to the conduct of the business of
such Person or to the ownership of its properties which were not incurred in connection with
Indebtedness and which do not in the aggregate materially adversely affect the value of said
properties or materially impair their use in the operation of the business of such Person; (e)
Liens existing on or provided for under the terms of agreements existing on the Issue Date
(including, without limitation, under the Credit Agreement); (f) Liens on property at the time the
Company or any of its Subsidiaries acquired the property or the entity owning such property,
including any acquisition by means of a merger or consolidation with or into the Company;
provided, however, that any such Lien may not extend to any other property owned by
the Company or any of its Subsidiaries, (g) Liens securing a Hedging Obligation so long as such
Hedging Obligation is of the type customarily entered into for the purpose of limiting risk; (h)
Purchase Money Liens; (i) Liens securing only Indebtedness of a Subsidiary of the Company to the
Company or one or more wholly owned Subsidiaries of the Company; (j) Liens on any property to
secure Indebtedness incurred in connection with the construction, installation or

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financing of
pollution control or abatement facilities or other forms of industrial revenue bond financing or
Indebtedness issued or Guaranteed by the United States, any state or any department, agency or
instrumentality thereof; (k) Government Contract Liens; (l) Liens securing Indebtedness of joint
ventures in which the Company or a Subsidiary has an interest to the extent such Liens are on
property or assets of, such joint ventures; (m) Liens resulting from the deposit of funds or
evidences of Indebtedness in trust for the purpose of defeasing Indebtedness of the Company or any
of its Subsidiaries; (n) legal or equitable encumbrances deemed to exist by reason of negative
pledges or the existence of any litigation or other legal proceeding and any related lis pendens
filing (excluding any attachment prior to judgment lien or attachment lien in aid of execution on a
judgment); (o) any attachment Lien being contested in good faith and by proceedings promptly
initiated and diligently conducted, unless the attachment giving rise thereto will not, within
sixty days after the entry thereof, have been discharged or fully bonded or will not have been
discharged within sixty days after the termination of any such bond; (p) any judgment Lien, unless
the judgment it secures will not, within sixty days after the entry thereof, have been discharged
or execution thereof stayed pending appeal, or will not have been discharged within sixty days
after the expiration of any such stay; (q) Liens to banks arising from the issuance of letters of
credit issued by such banks (“issuing banks”) on the following: (i) any and all shipping documents,
warehouse receipts, policies or certificates of insurance and other document accompanying or
relative to drafts drawn under any credit, and any draft drawn thereunder (whether or not such
documents, goods or other property be released to or upon the order of the Company or any
Subsidiary under a security agreement or trust or bailee receipt or otherwise), and the proceeds of
each and all of the foregoing; (ii) the balance of every deposit account, now or at the time
hereafter existing, of the Company or any Subsidiary with the issuing banks, and any other claims
of the Company or any Subsidiary against the issuing banks; and all property claims and demands and
all rights and interests therein of the Company or any Subsidiary and all evidences thereof and all
proceeds thereof which have been or at any time will be delivered to or otherwise come into the
issuing bank’s possession, custody or control, or into the possession, custody or control of any
bailee for the issuing bank or of any of its agents or correspondents for the account of the
issuing bank, for any purpose, whether or not the express purpose of being used by the issuing bank
as collateral security or for the safekeeping or for any other or different purpose, the issuing
bank being deemed to have possession or control of all of such property actually in transit to or
from or set apart for the issuing bank, any bailee for the issuing bank or any of its
correspondents for other acting in its behalf, it being understood that the receipt at any time by
the issuing bank, or any of its bailees, agents or correspondents, or other security, of whatever
nature, including cash, will not be deemed a waiver of any of the issuing bank’s rights or power
hereunder; (iii) all property shipped under or pursuant to or in connection with any credit or
drafts drawn thereunder or in any way related thereto, and all proceeds thereof; (iv) all additions
to and substitutions for any of the property enumerated above in this subsection; (r) rights of a
common owner of any interest in property held by such Person; (s) any defects, irregularities or
deficiencies in title to easements, rights-of-way or other properties which do not in the aggregate
materially adversely affect the value of such properties or materially impair their use in the
operation of the business of such Person; and (t) Liens to secure any refinancing, refunding,
extension, renewal or replacement (or successive refinancings, refundings, extensions, renewals or
replacements), as a whole, or in part, of any indebtedness secured by any Lien referred to in the
foregoing clauses (e) through (l); provided, however, that (i) such new Lien shall
be limited to all or part of the same property that secured the original Lien (plus improvements on
such property) and (ii) the Indebtedness secured by such Lien at

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such time is not increased to any
amount greater than the sum of (A) the outstanding principal amount or, if greater, committed
amount of the indebtedness described under clauses (e) through (l) at the time the original Lien
became a Permitted Lien under this Indenture and (B) an amount necessary to pay any fees and
expenses, including premiums, related to such refinancing, refunding, extension, renewal or
replacement.

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

          “Place of Payment” means, when used with respect to the Debt Securities of any series,
the place or places where the principal of, and premium, if any, and interest on, the Debt
Securities of that series are payable as specified pursuant to Section 2.03.

          “Preferred Stock” as applied to the Capital Stock of any corporation, means Capital
Stock of any class or classes (however designated) which is preferred as to the payment of
dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or
dissolution of such corporation, over shares of Capital Stock of any other class of such
corporation.

          “Purchase Money Lien” means a Lien on property securing Indebtedness Incurred by the
Company or any of its Subsidiaries to provide funds for all or any portion of the cost of
acquiring, constructing, altering, expanding, improving or repairing such property or assets used
in connection with such property.

          “Redeemable Stock” means, with respect to any Person, any Capital Stock which by its
terms (or by the terms of any security into which it is convertible or for which it is
exchangeable) or upon the happening of any event (i) matures or is mandatorily redeemable pursuant
to a sinking fund obligation or otherwise, (ii) is convertible or exchangeable for Indebtedness
(other than Preferred Stock) or Disqualified Stock or (iii) is redeemable at the option of the
holder thereof, in whole or in part.

          “Registered Holder” means the Person in whose name a Registered Security is registered
in the Debt Security Register (as defined in Section 2.07(a)).

          “Registered Security” means any Debt Security registered as to principal and interest
in the Debt Security Register (as defined in Section 2.07(a)).

          “Registrar” has the meaning set forth in Section 2.07(a).

          “Representative” means the trustee, agent or representative (if any) for an issue of
Indebtedness.

          “responsible officer” when used with respect to the Trustee, means any officer within
the Trustee, including any Vice President, any Second Vice President, any trust officer or any
other officer of the Trustee performing functions similar to those performed by the persons

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who at
the time shall be such officers, and any other officer of the Trustee to whom corporate trust
matters are referred because of his knowledge of and familiarity with the particular subject.

          “Restricted Subsidiary” means a Subsidiary of the Company that shall at the time,
directly or indirectly, through one or more Subsidiaries or in combination with one or more
Subsidiaries or the Company, owns or leases a Principal Property.

          “Secured Indebtedness” means any Indebtedness of the Company secured by a Lien.

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

          “Senior Indebtedness” means, as to any series of Debt Securities subordinated pursuant
to the provisions of Article XII, the Indebtedness of the Company identified as Senior Indebtedness
in the resolution of the Board of Directors and accompanying Officers’ Certificate or supplemental
Indenture setting forth the terms, including as to subordination, of such series.

          “Stated Maturity” means, with respect to any security, the date specified in such
security as the fixed date on which the payment of principal of such security is due and payable,
including pursuant to any mandatory redemption provision (but excluding any provision providing for
the repurchase of such security at the option of the holder thereof upon the happening of any
contingency beyond the control of the issuer unless such contingency has occurred).

          “Subsidiary” of any Person means any corporation, association, partnership or other
business entity of which more than 50% of the total voting power of shares of Capital Stock
entitled (without regard to the occurrence of any contingency) to vote in the election of
directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly,
by (i) such Person, (ii) such Person and one or more Subsidiaries of such Person or (iii) one or
more Subsidiaries of such Person.

          “Temporary Cash Investments” means any of the following: (i) investments in U.S.
Government Obligations maturing within 90 days of the date of acquisition thereof, (ii) investments
in time deposit accounts, certificates of deposit and money market deposits maturing within 90 days
of the date of acquisition thereof issued by a bank or trust company which is organized under the
laws of the United States, any State thereof or any foreign country recognized by the United States
having capital, surplus and undivided profits aggregating in excess of $500,000,000 (or the Dollar
Equivalent thereof) and whose long-term debt is rated “A” or higher according to Moody’s Investors
Service, Inc. (or such similar equivalent rating by at least one “nationally recognized statistical
rating organization” (as defined in Rule 436 under the Securities Act)), (iii) repurchase
obligations with a term of not more than 7 days for underlying securities of the types described in
clause (i) above entered into with a bank meeting the qualifications described in clause (ii) above
and (iv) investments in commercial paper, maturing not more than 90 days after the date of
acquisition, issued by a corporation (other than an Affiliate of the Company) organized and in
existence under the laws of the United States or any foreign country recognized by the United
States with a rating at the time as of which any

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investment therein is made of “P-1” (or higher)
according to Moody’s Investors Service, Inc. or “A-1” (or higher) according to Standard and Poor’s
Corporation.

          “Trade Payables” means, with respect to any Person, any accounts payable or any
Indebtedness or monetary obligation to trade creditors created, assumed or Guaranteed by such
Person arising in the ordinary course of business of such Person in connection with the acquisition
of goods or services.

          “Trustee” initially means Wells Fargo Bank, National Association and any other Person
or Persons appointed as such from time to time pursuant to Section 7.08, and, subject to the
provisions of Article VII, includes its or their successors and assigns. If at any time there is
more than one such Person, “Trustee” as used with respect to the Debt Securities of any series
shall mean the Trustee with respect to the Debt Securities of that series.

          “Trust Indenture Act” (except as herein otherwise expressly provided) means the Trust
Indenture Act of 1939 as in force at the date of this Indenture as originally executed and, to the
extent required by law, as amended.

          “United States” means the United States of America (including the States and the
District of Columbia), its territories, its possessions and other areas subject to its
jurisdiction.

          “U.S. Government Obligations” means securities that are (x) direct obligations of the
United States for the payment of which its full faith and credit is pledged or (y) obligations of a
Person controlled or supervised by and acting as an agency or instrumentality of the United States,
the payment of which is unconditionally guaranteed as a full faith and credit obligation by the
United States, which, in either case, are not callable or redeemable at the option of the issuer
thereof.

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

          SECTION 1.02. Incorporation by Reference of Trust Indenture Act. This Indenture is
subject to the mandatory provisions of the Trust Indenture Act, which are incorporated by reference
in and made a part of this indenture. The following Trust Indenture Act terms have the following
meanings:

          “indenture securities” means the Debt Securities.

          “indenture security holder” means a Holder.

          “indenture to be qualified” means this Indenture.

          “indenture trustee” or “institutional trustee” means the Trustee.

          “obligor” on the indenture securities means the Company and any other obligor on the
Debt Securities.

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          All other Trust Indenture Act terms used in this Indenture that are defined by the Trust
indenture Act, reference to another statute or defined by rules of the Securities and Exchange
Commission have the meanings assigned to them by such definitions.

          SECTION 1.03. Rules of Construction. Unless the context otherwise requires:

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

     (2) an accounting term not otherwise defined has the meaning assigned to it in
accordance with GAAP;

     (3) “or” is not exclusive;

     (4) “including” means including without limitation;

     (5) words in the singular include the plural and words in the plural include the
singular;

     (6) if the applicable series of Debt Securities are subordinated pursuant to Article
XII, unsecured indebtedness shall not be deemed to be subordinate or junior to Secured
Indebtedness merely by virtue of its nature as unsecured indebtedness;

     (7) the principal amount of any noninterest bearing or other discount security at any
date shall be the principal amount thereof that would be shown on a balance sheet of the
issuer dated such date prepared in accordance with GAAP; and

     (8) the principal amount of any Preferred Stock shall be the greater of (i) the maximum
liquidation value of such Preferred Stock or (ii) the maximum mandatory redemption or
mandatory repurchase price with respect to such Preferred Stock.

ARTICLE II

Debt Securities

          SECTION 2.01. Forms Generally. The Debt Securities of each series shall be in
substantially the form established without the approval of any Holder by or pursuant to a
resolution of the Board of Directors or in one or more Indentures supplemental hereto, in each case
with such appropriate insertions, omissions, substitutions and other variations as are required or
permitted by this Indenture, and may have such letters, numbers or other marks of identification
and such legends or endorsements placed thereon as the Company may deem appropriate (and, if not
contained in a supplemental Indenture entered into in accordance with Article IX, as are not
prohibited by the provisions of this Indenture) or as may be required or appropriate to comply with
any law or with any rules made pursuant thereto or with any rules of any securities exchange on
which such series of Debt Securities may be listed, or to conform to

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general usage, or as may,
consistently herewith, be determined by the officers executing such Debt Securities as evidenced by
their execution of the Debt Securities.

          The definitive Debt Securities of each series shall be printed, lithographed or engraved on
steel engraved borders or may be produced in any other manner, all as determined by the officers
executing such Debt Securities, as evidenced by their execution of such Debt Securities.

          SECTION 2.02. Form of Trustee’s Certificate of Authentication. The Trustee’s
Certificate of Authentication on all Debt Securities authenticated by the Trustee shall be in
substantially the following form:

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

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

	 	 	 	 	 	 	 
	 	 	Wells Fargo Bank, National Association, as Trustee
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Authorized Signatory
	 	 

          SECTION 2.03. Principal Amount; Issuable in Series. The aggregate principal amount
of Debt Securities which may be issued, executed, authenticated, delivered and outstanding under
this Indenture is unlimited.

          The Debt Securities may be issued in one or more series. There shall be established, without
the approval of any Holders, in or pursuant to a resolution of the Board of Directors and set forth
in an Officers’ Certificate, or established in one or more Indentures supplemental hereto, prior to
the issuance of Debt Securities of any series any or all of the following:

     (1) the title of the Debt Securities of the series (which shall distinguish the
Debt Securities of the series from all other Debt Securities);

     (2) any limit upon the aggregate principal amount of the Debt Securities of the series
which may be authenticated and delivered under this Indenture (except for Debt Securities
authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu
of, other Debt Securities of the series pursuant to this Article II);

     (3) the date or dates on which the principal and premium, if any, of the Debt
Securities of the series are payable;

     (4) the rate or rates (which may be fixed or variable) at which the Debt Securities of
the series shall bear interest, if any, or the method of determining such rate or rates, the

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date or dates from which such interest shall accrue, the interest payment dates on
which such interest shall be payable, or the method by which such date will be determined,
in the case of Registered Securities, the record dates for the determination of Holders
thereof to whom such interest is payable; and the basis upon which interest will be
calculated if other than that of a 360-day year of twelve thirty-day months;

     (5) the Place or Places of Payment, if any, in addition to or instead of the corporate
trust office of the Trustee where the principal of, and interest on, Debt Securities of the
series shall be payable;

     (6) the price or prices at which, the period or periods within which and the terms and
conditions upon which Debt Securities of the series may be redeemed, in whole or in part, at
the option of the Company or otherwise;

     (7) the obligation, if any, of the Company to redeem, purchase or repay Debt Securities
of the series pursuant to any sinking fund or analogous provisions or at the option of a
Holder thereof, and the price or prices to which and the period or periods within which and
the terms and conditions upon which Debt Securities of the series shall be redeemed,
purchased or repaid, in whole or in part, pursuant to such obligations;

     (8) the terms, if any, upon which the Debt Securities of the series may be convertible
into or exchanged for Common Stock, Preferred Stock (which may be represented by depositary shares), other Debt Securities or warrants for Common Stock, Preferred Stock or Indebtedness
or other securities of any kind of the Company or any other obligor or issuer and the terms
and conditions upon which such conversion or exchange shall be effected, including the
initial conversion or exchange price or rate, the conversion or exchange period and any
other provision in addition to or in lieu of those described herein;

     (9) if other than denominations of $1,000 and any integral multiple thereof, the
denominations in which Debt Securities of the series shall be issuable;

     (10) if the amount of principal of or any premium or interest on Debt Securities of the
series may be determined with reference to an index or pursuant to a formula, the manner in
which such amounts will be determined;

     (11) if the principal amount payable at the Stated Maturity of Debt Securities of the
series will not be determinable as of any one or more dates prior to such Stated Maturity,
the amount which will be deemed to be such principal amount as of any such date for any
purpose, including the principal amount thereof which will be due and payable upon any
maturity other than the Stated Maturity or which will be deemed to be Outstanding as of any
such date (or, in any such case, the manner in which such deemed principal amount is to be
determined); and the manner of determining the equivalent thereof in the currency of the
United States of America for purposes of the definition of Dollar Equivalent;

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     (12) any changes or additions to Article XI, including the addition of additional
covenants that may be subject to the covenant defeasance option pursuant to Section
11.02(b)(ii);

     (13) if other than such coin or Currency of the United States as at the time of payment
is legal tender for payment of public and private debts, the coin or Currency or Currencies
or units of two or more Currencies in which payment of the principal of and premium, if any,
and interest on, Debt Securities of the series shall be payable;

     (14) if other than the principal amount thereof, the portion of the principal amount of
Debt Securities of the series which shall be payable upon declaration of acceleration of the
maturity thereof pursuant to Section 6.01 or provable in bankruptcy pursuant to Section
6.02;

     (15) the terms, if any, of the transfer, mortgage, pledge or assignment as security for
the Debt Securities of the series of any properties, assets, moneys, proceeds, securities or
other collateral, including whether certain provisions of the Trust Indenture Act are
applicable and any corresponding changes to provisions of this Indenture as currently in
effect;

     (16) any addition to or change in the Events of Default with respect to the Debt
Securities of the series and any change in the right of the Trustee or the Holders to
declare the principal of and interest on, such Debt Securities due and payable;

     (17) if the Debt Securities of the series shall be issued in whole or in part in the
form of a Global Security or Securities, the terms and conditions, if any, upon which such
Global Security or Securities may be exchanged in whole or in part for other individual Debt
Securities in definitive registered form; and the Depositary for such Global Security or
Securities and the form of any legend or legends to be borne by any such Global Security or
Securities in addition to or in lieu of the legend referred to in Section 2.15;

     (18) any trustees, authenticating or paying agents, transfer agents or registrars;

     (19) the applicability of, and any addition to or change in the covenants and
definitions currently set forth in this Indenture or in the terms currently set forth in
Article X, including conditioning any merger, conveyance, transfer or lease permitted by
Article X upon the satisfaction of an Indebtedness coverage standard by the Company and
Successor Company (as defined in Article X);

     (20) the terms, if any, of any Guarantee of the payment of principal of, and premium,
if any, and interest on, Debt Securities of the series and any corresponding changes to the
provisions of this Indenture as currently in effect;

     (21) the subordination, if any, of the Debt Securities of the series pursuant to
Article XII and any changes or additions to Article XII;

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     (22) with regard to Debt Securities of the series that do not bear interest, the dates
for certain required reports to the Trustee; and

     (23) any other terms of the Debt Securities of the series (which terms shall not be
prohibited by the provisions of this Indenture).

          All Debt Securities of any one series appertaining thereto shall be substantially identical
except as to denomination and except as may otherwise be provided in or pursuant to such resolution
of the Board of Directors and as set forth in such Officers’ Certificate or in any such Indenture
supplemental hereto.

          SECTION 2.04. Execution of Debt Securities. The Debt Securities shall be signed on
behalf of the Company by its Chairman of the Board, its Vice Chairman, its President or a Vice
President and by its Secretary, an Assistant Secretary, a Treasurer or an Assistant Treasurer.
Such signatures upon the Debt Securities may be the manual or facsimile signatures of the present
or any future such authorized officers and may be imprinted or otherwise reproduced on the Debt
Securities. The seal of the Company, if any, may be in the form of a facsimile thereof and may be
impressed, affixed, imprinted or otherwise reproduced on the Debt Securities.

          Only such Debt Securities as shall bear thereon a certificate of authentication substantially
in the form hereinbefore recited, signed manually by the Trustee, shall be entitled to the benefits
of this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee upon
any Debt Security executed by the Company shall be conclusive evidence that the Debt Security so
authenticated has been duly authenticated and delivered hereunder.

          In case any officer of the Company who shall have signed any of the Debt Securities shall
cease to be such officer before the Debt Securities so signed shall have been authenticated and
delivered by the Trustee, or disposed of by the Company, such Debt Securities nevertheless may be
authenticated and delivered or disposed of as though the Person who signed such Debt Securities had
not ceased to be such officer of the Company; and any Debt Security may be signed on behalf of the
Company by such Persons as, at the actual date of the execution of such Debt Security, shall be the
proper officers of the Company, although at the date of such Debt Security or of the execution of
this Indenture any such Person was not such officer.

          SECTION 2.05. Authentication and Delivery of Debt Securities. At any time
and from time to time after the execution and delivery of this Indenture, the Company may deliver
Debt Securities of any series executed by the Company to the Trustee for authentication, and the
Trustee shall thereupon authenticate and deliver said Debt Securities to or upon a Company Order.
In authenticating such Debt Securities and accepting the additional responsibilities under this
Indenture in relation to such Debt Securities, the Trustee shall be entitled to receive, and
(subject to Section 7.01.) shall be fully protected in relying upon:

     (1) a copy of any resolution or resolutions of the Board of Directors, certified by the
Secretary or Assistant Secretary of the Company, authorizing the terms of issuance of any
series of Debt Securities;

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     (2) an executed supplemental Indenture, if any;

     (3) an Officers’ Certificate; and

     (4) an Opinion of Counsel prepared in accordance with Section 13.05 substantially to
the effect that:

     (a) the form of such Debt Securities has been established by or pursuant to a
resolution of the Board of Directors or by a supplemental Indenture as permitted by
Section 2.01 in conformity with the provisions of this Indenture;

     (b) the terms of such Debt Securities have been established by or pursuant to a
resolution of the Board of Directors or by a supplemental Indenture as permitted by
Section 2.03 in conformity with the provisions of this Indenture;

     (c) such Debt Securities, when authenticated and delivered by the Trustee and
issued by the Company in the manner and subject to any conditions specified in such
Opinion of Counsel, will constitute valid and legally binding obligations of the
Company, enforceable in accordance with their terms except as (i) the enforceability
thereof may be limited by bankruptcy, insolvency or similar laws affecting the
enforcement of creditors’ rights generally and (ii) rights of acceleration and the
availability of equitable remedies may be limited by equitable principles of general
applicability;

          Such Opinion of Counsel need express no opinion as to whether a court in the United States
would render a money judgment in a currency other than that of the United States.

          The Trustee shall have the right to decline to authenticate and deliver any Debt Securities
under this Section 2.05 if the Trustee, being advised by counsel, determines that such action may
not lawfully be taken or if the Trustee in good faith by its board of directors or trustees,
executive committee or a trust committee of directors, trustees or vice presidents shall determine
that such action would expose the Trustee to personal liability to existing Holders.

          The Trustee may appoint an authenticating agent reasonably acceptable to the Company to
authenticate Debt Securities of any series. Unless limited by the terms of such appointment, an
authenticating agent may authenticate Debt Securities whenever the Trustee may do so. Each
reference in this Indenture to authentication by the Trustee includes authentication by such agent.
An authenticating agent has the same rights as any Registrar, paying agent or agent for service of
notices and demands.

          Unless otherwise provided in the form of Debt Security for any series, each Debt Security
shall be dated the date of its authentication.

          SECTION 2.06. Denomination of Debt Securities. Unless otherwise provided in the form
of Debt Security for any series, the Debt Securities of each series shall be issuable only as
Registered Securities in such denominations as shall be specified or contemplated by Section 2.03.
In the absence of any such specification with respect to the Debt Securities of any

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series, the Debt Securities of such series shall be issuable in denominations of $1,000 and
any integral multiple thereof.

          SECTION 2.07. Registration of Transfer and Exchange.

          (a) The Company shall keep or cause to be kept a register for each series of Registered
Securities issued hereunder (hereinafter collectively referred to as the “Debt Security Register”),
in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for
the registration of Registered Securities and the transfer of Registered Securities as in this
Article II provided. At all reasonable times the Debt Security Register shall be open for
inspection by the Trustee. Subject to Section 2.15, upon due presentment for registration of
transfer of any Registered Security at any office or agency to be maintained by the Company in
accordance with the provisions of Section 4.02, the Company shall execute and the Trustee shall
authenticate and deliver in the name of the transferee or transferees a new Registered Security or
Registered Securities of authorized denominations for a like aggregate principal amount.

          Unless and until otherwise determined by the Company by resolution of the Board of Directors,
the register of the Company for the purpose of registration, exchange or registration of transfer
of the Registered Securities shall be kept at the corporate trust office of the Trustee and, for
this purpose, the Trustee shall be designated “Registrar”.

          Registered Securities of any series (other than a Global Security) may be exchanged for a like
aggregate principal amount of Registered Securities of the same series of other authorized
denominations. Subject to Section 2.15, Registered Securities to be exchanged shall be surrendered
at the office or agency to be maintained by the Company as provided in Section 4.02, and the
Company shall execute and the Trustee shall authenticate and deliver in exchange therefor the
Registered Security or Registered Securities which the Holder making the exchange shall be entitled
to receive.

          (b) All Registered Securities presented or surrendered for registration of transfer, exchange
or payment shall (if so required by the Company, the Trustee or the Registrar) be duly endorsed or
be accompanied by a written instrument or instruments of transfer, in form satisfactory to the
Company, the Trustee and the Registrar, duly executed by the Registered Holder or his attorney duly
authorized in writing.

          All Debt Securities issued in exchange for or upon transfer of Debt Securities shall be the
valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under
this Indenture as the Debt Securities surrendered for such exchange or transfer.

          No service charge shall be made for any exchange or registration of transfer of Debt
Securities (except as provided by Section 2.09), but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in relation thereto,
other than those expressly provided in this Indenture to be made at the Company’s own expense or
without expense or without charge to the Holders.

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          The Company shall not be required (a) to issue, register the transfer of or exchange any Debt
Securities for a period of 15 days next preceding any mailing of notice of redemption of Debt
Securities of such series or (b) to register the transfer of or exchange any Debt Securities
selected, called or being called for redemption.

          Prior to the due presentation for registration of transfer of any Debt Security, the Company,
the Trustee, any paying agent or any Registrar may deem and treat the Person in whose name a Debt
Security is registered as the absolute owner of such Debt Security for the purpose of receiving
payment of principal of, and premium, if any, and interest on, such Debt Security and for all other
purposes whatsoever, whether or not such Debt Security is overdue, and none of the Company, the
Trustee, any paying agent or Registrar shall be affected by notice to the contrary.

          None of the Company, the Trustee, any agent of the Trustee, any paying agent or any Registrar
will have any responsibility or liability for any aspect of the records relating to, or payments
made on account of, beneficial ownership interests of a Global Security or for maintaining,
supervising or reviewing any records relating to such beneficial ownership interests.

          SECTION 2.08. Temporary Debt Securities. Pending the preparation of definitive Debt
Securities of any series, the Company may execute and the Trustee shall authenticate and deliver
temporary Debt Securities (printed, lithographed, photocopied, typewritten or otherwise produced)
of any authorized denomination, and substantially in the form of the definitive Debt Securities in
lieu of which they are issued, in registered form and with such omissions, insertions and
variations as may be appropriate for temporary Debt Securities, all as may be determined by the
Company with the concurrence of the Trustee. Temporary Debt Securities may contain such reference
to any provisions of this Indenture as may be appropriate. Every temporary Debt Security shall be
executed by the Company and be authenticated by the Trustee upon the same conditions and in
substantially the same manner, and with like effect, as the definitive Debt Securities.

          If temporary Debt Securities of any series are issued, the Company will cause definitive Debt
Securities of such series to be prepared without unreasonable delay. After the preparation of
definitive Debt Securities of such series, the temporary Debt Securities of such series shall be
exchangeable for definitive Debt Securities of such series upon surrender of the temporary Debt
Securities of such series at the office or agency of the Company at a Place of Payment for such
series, without charge to the Holder thereof, except as provided in Section 2.07 in connection with
a transfer, and upon surrender for cancellation of any one or more temporary Debt Securities of any
series, the Company shall execute and the Trustee shall authenticate and deliver in exchange
therefor a like principal amount of definitive Debt Securities of the same series of authorized
denominations and of like tenor. Until so exchanged, temporary Debt Securities of any series shall
in all respects be entitled to the same benefits under this Indenture as definitive Debt Securities
of such series, except as otherwise specified as contemplated by Section 2.03(17) with respect to
the payment of interest on Global Securities in temporary form.

          Upon any exchange of a portion of a temporary Global Security for a definitive Global Security
or for the individual Debt Securities represented thereby pursuant to Section 2.07 or this Section
2.08, the temporary Global Security shall be endorsed by the Trustee

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to reflect the reduction of the principal amount evidenced thereby, whereupon the principal
amount of such temporary Global Security shall be reduced for all purposes by the amount so
exchanged and endorsed.

          SECTION 2.09. Mutilated, Destroyed, Lost or Stolen Debt Securities. If (i) any
mutilated Debt Security is surrendered to the Trustee at its corporate trust office (in the case of
Registered Securities) or (ii) the Company and the Trustee receive evidence to their satisfaction
of the destruction, loss or theft of any Debt Security, and there is delivered to the Company and
the Trustee such security or indemnity as may be required by them to save each of them and any
paying agent harmless, and neither the Company nor the Trustee receives notice that such Debt
Security has been acquired by a bona fide purchaser, then the Company shall execute and, upon a
Company Order, the Trustee shall authenticate and deliver, in exchange for or in lieu of any such
mutilated, destroyed, lost or stolen Debt Security, a new Debt Security of the same series of like
tenor, form, terms and principal amount, bearing a number not contemporaneously Outstanding. Upon
the issuance of any substituted Debt Security, the Company may require the payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in relation thereto
and any other expenses connected therewith. In case any Debt Security which has matured or is
about to mature or which has been called for redemption shall become mutilated or be destroyed,
lost or stolen, the Company may, instead of issuing a substituted Debt Security, pay or authorize
the payment of the same (without surrender thereof except in the case of a mutilated Debt Security)
if the applicant for such payment shall furnish the Company and the Trustee with such security or
indemnity as either may require to save it harmless from all risk, however remote, and, in case of
destruction, loss or theft, evidence to the satisfaction of the Company and the Trustee of the
destruction, loss or theft of such Debt Security and of the ownership thereof.

          Every substituted Debt Security of any series issued pursuant to the provisions of this
Section 2.09 by virtue of the fact that any Debt Security is destroyed, lost or stolen shall
constitute an original additional contractual obligation of the Company, whether or not the
destroyed, lost or stolen Debt Security shall be found at any time, and shall be entitled to all
the benefits of this Indenture equally and proportionately with any and all other Debt Securities
of that series duly issued hereunder. All Debt Securities shall be held and owned upon the express
condition that the foregoing provisions are exclusive with respect to the replacement or payment of
mutilated, destroyed, lost or stolen Debt Securities, and shall preclude any and all other rights
or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with
respect to the replacement or payment of negotiable instruments or other securities without their
surrender.

          SECTION 2.10. Cancellation of Surrendered Debt Securities. All Debt
Securities surrendered for payment, redemption, registration of transfer or exchange shall, if
surrendered to the Company or any paying agent or a Registrar, be delivered to the Trustee for
cancellation by it, or if surrendered to the Trustee, shall be canceled by it, and no Debt
Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions
of this Indenture. All canceled Debt Securities held by the Trustee shall be destroyed (subject to
the record retention requirements of the Exchange Act) and certification of their destruction
delivered to the Company, unless otherwise directed. On request of the Company, the Trustee shall
deliver to the Company canceled Debt Securities held by the Trustee. If the Company shall

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acquire any of the Debt Securities, however, such acquisition shall not operate as a
redemption or satisfaction of the indebtedness represented thereby unless and until the same are
delivered or surrendered to the Trustee for cancellation. The Company may not issue new Debt
Securities to replace Debt Securities it has redeemed, paid or delivered to the Trustee for
cancellation.

          SECTION 2.11. Provisions of the Indenture and Debt Securities for the Sole Benefit of the
Parties and the Holders. Nothing in this Indenture or in the Debt Securities, expressed or
implied, shall give or be construed to give to any Person, other than the parties hereto, the
Holders or any Registrar or paying agent, any legal or equitable right, remedy or claim under or in
respect of this Indenture, or under any covenant, condition or provision herein contained; all its
covenants, conditions and provisions being for the sole benefit of the parties hereto, the Holders
and any Registrar and paying agents.

          SECTION 2.12. Payment of Interest; Rights Preserved.

          (a) Interest on any Registered Security that is payable and is punctually paid or duly
provided for on any interest payment date shall be paid to the Person in whose name such Registered
Security is registered at the close of business on the regular record date for such interest
notwithstanding the cancellation of such Registered Security upon any transfer or exchange
subsequent to the regular record date. Payment of interest on Registered Securities shall be made
at the corporate trust office of the Trustee (except as otherwise specified pursuant to Section
2.03), or at the option of the Company, by check mailed to the address of the Person entitled
thereto as such address shall appear in the Debt Security Register or, if provided pursuant to
Section 2.03 and in accordance with arrangements satisfactory to the Trustee, at the option of the
Registered Holder by wire transfer to an account designated by the Registered Holder.

          (b) Subject to the foregoing provisions of this Section 2.12 and Section 2.17, each Debt
Security of a particular series delivered under this Indenture upon registration of transfer of or
in exchange for or in lieu of any other Debt Security of the same series shall carry the rights to
interest accrued and unpaid, and to accrue, which were carried by such other Debt Security.

          SECTION 2.13. Securities Denominated in Foreign Currencies.

          (a) Except as otherwise specified pursuant to Section 2.03 for Registered Securities of any
series, payment of the principal of, and premium, if any, and interest on, Registered Securities of
such series will be made in Dollars.

          (b) For the purposes of calculating the principal amount of Debt Securities of any series
denominated in a Foreign Currency or in units of two or more Foreign Currencies for any purpose
under this Indenture, the principal amount of such Debt Securities at any time Outstanding shall be
deemed to be the Dollar Equivalent of such principal amount as of the date of any such calculation.

          In the event any Foreign Currency or currencies or units of two or more Currencies in which
any payment with respect to any series of Debt Securities may be made

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ceases to be a freely convertible Currency on United States Currency markets, for any date
thereafter on which payment of principal of, or premium, if any, or interest on, the Debt
Securities of a series is due, the Company shall select the Currency of payment for use on such
date, all as provided in the Debt Securities of such series. In such event, the Company shall, as
provided in the Debt Securities of such series, notify the Trustee of the Currency which it has
selected to constitute the funds necessary to meet the Company’s obligations or such payment date
and of the amount of such Currency to be paid. Such amount shall be determined as provided in the
Debt Securities of such series. The payment to the Trustee with respect to such payment date shall
be made by the Company solely in the Currency so selected.

          SECTION 2.14. Wire Transfers. Notwithstanding any other provision to the contrary in
this Indenture, the Company may make any payment of monies required to be deposited with the
Trustee on account of principal of, or premium, if any, or interest on, the Debt Securities
(whether pursuant to optional or mandatory redemption payments, interest payments or otherwise) by
wire transfer of immediately available funds to an account designated by the Trustee on or before
the date such moneys are to be paid to the Holders of the Debt Securities in accordance with the
terms hereof.

          SECTION 2.15. Securities Issuable in the Form of a Global Security.

          (a) If the Company shall establish pursuant to Sections 2.01 and 2.03 that the Debt
Securities of a particular series are to be issued in whole or in part in the form of one or more
Global Securities, then the Company shall execute and the Trustee or its agent shall, in accordance
with Section 2.05, authenticate and deliver, such Global Security or Securities, which (i) shall
represent, and shall be denominated in an amount equal to the aggregate principal amount of, the
Outstanding Debt Securities of such series to be represented by such Global Security or Securities,
or such portion thereof as the Company shall specify in an Officers’ Certificate, (ii) shall be
registered in the name of the Depositary for such Global Security or securities or its nominee,
(iii) shall be delivered by the Trustee or its agent to the Depositary or pursuant to the
Depositary’s instruction and (iv) shall bear a legend substantially to the following effect:
“Unless and until it is exchanged in whole or in part for the individual Debt Securities
represented hereby, this Global Security may not be transferred except 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 or by the Depositary or any such nominee to a successor Depositary or a
nominee of such successor Depositary”, or such other legend as may then be required by the
Depositary for such Global Security or Securities.

          (b) Notwithstanding any other provision of this Section 2.15 or of Section 2.07 to the
contrary, and subject to the provisions of paragraph (c) below, unless the terms of a Global
Security expressly permit such Global Security to be exchanged in whole or in part for definitive
Debt Securities in registered form, a Global Security may be transferred, in whole but not in part
and in the manner provided in Section 2.07, only by the Depositary to a nominee of the Depositary
for such Global Security, or by a nominee of the Depositary to the Depositary or another nominee of
the Depositary, or by the Depositary or a nominee of the Depositary to a successor Depositary for
such Global Security selected or approved by the Company, or to a nominee of such successor
Depositary.

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          (c) (i) If at any time the Depositary for a Global Security or Securities notifies the
Company that it is unwilling or unable to continue as Depositary for such Global Security or
Securities or if at any time the Depositary for the Debt Securities for such series shall no longer
be eligible or in good standing under the Exchange Act or other applicable statute, rule or
regulation, the Company shall appoint a successor Depositary with respect to such Global Security
or Securities. If a successor Depositary for such Global Security or Securities is not appointed
by the Company within 90 days after the Company receives such notice or becomes aware of such
ineligibility, the Company shall execute, and the Trustee or its agent, upon receipt of a Company
order for the authentication and delivery of such individual Debt Securities of such series in
exchange for such Global Security, will authenticate and deliver, individual Debt Securities of
such series of like tenor and terms in definitive form in an aggregate principal amount equal to
the principal amount of the Global Security in exchange for such Global Security or securities.

     (ii) The Company may at any time and in its sole discretion determine that the Debt
Securities of any series or portion thereof issued or issuable in the form of one or more Global
Securities shall no longer be represented by such Global security or securities. In such event the
Company will execute, and the Trustee, upon receipt of a Company Order for the authentication and
delivery of individual Debt Securities of such series in exchange in whole or in part for such
Global Security, will authenticate and deliver individual Debt Securities of such series of like
tenor and terms in definitive form in an aggregate principal amount equal to the principal amount
of such series or portion thereof in exchange for such Global Security or Securities.

     (iii) If specified by the Company pursuant to Sections 2.01 and 2.03 with respect to Debt
Securities issued or issuable in the form of a Global Security, the Depositary for such Global
Security may surrender such Global Security in exchange in whole or in part for individual Debt
Securities of such series of like tenor and terms in definitive form on such terms as are
acceptable to the Company, the Trustee and such Depositary. Thereupon the Company shall execute,
and the Trustee or its agent upon receipt of a Company Order for the authentication and delivery of
definitive Debt Securities of such series shall authenticate and deliver, without service charge,
(1) to each Person specified by such Depositary a new Debt Security or Securities of the same
series of like tenor and terms and of any authorized denomination as requested by such Person in
aggregate principal amount equal to and in exchange for such Persons beneficial interest in the
Global Security; and (2) to such Depositary a new Global Security of like tenor and terms and in an
authorized denomination equal to the difference, if any, between the principal amount of the
surrendered Global Security and the aggregate principal amount of Debt Securities delivered to
Holders thereof.

     (iv) In any exchange provided for in any of the preceding three paragraphs, the Company will
execute and the Trustee or its agent will authenticate and deliver individual Debt Securities.
Upon the exchange of the entire principal amount of a Global Security for individual Debt
Securities, such Global Security shall be canceled by the Trustee or its agent. Except as provided
in the preceding paragraph, Registered Securities issued in exchange for a Global Security pursuant
to this Section 2.15 shall be registered in such names and in such authorized denominations as the
Depositary for such Global Security, pursuant to instructions from its direct or indirect
participants or otherwise, shall instruct the Trustee or the Registrar. The Trustee or

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the Registrar shall deliver such Registered Securities to the Persons in whose names such
Registered Securities are so registered.

          (v) Payments in respect of the principal of and interest on any Debt Securities registered in
the name of the Depositary or its nominee will be payable to the Depositary or such nominee in its
capacity as the registered owner of such Global Security. The Company and the Trustee may treat
the Person in whose name the Debt Securities, including the Global Security, are registered as the
owner thereof for the purpose of receiving such payments and for any and all other purposes
whatsoever. None of the Company, the Trustee, any Registrar, the paying agent or any agent of the
Company or the Trustee will have any responsibility or liability for (a) any aspect of the records
relating to or payments made on account of the beneficial ownership interests of the Global
Security by the Depositary or its nominee or any of the Depositary’s direct or indirect
participants, or for maintaining, supervising or reviewing any records of the Depositary, its
nominee or any of its direct or indirect participants relating to the beneficial ownership
interests of the Global Security, (b) the payments to the beneficial owners of the Global Security
of amounts paid to the Depositary or its nominee, or (c) any other matter relating to the actions
and practices of the Depositary, its nominee or any of its direct or indirect participants. None
of the Company, the Trustee or any such agent will be liable for any delay by the Depositary, its
nominee, or any of its direct or indirect participants in identifying the beneficial owners of the
Debt Securities, and the Company and the Trustee may conclusively rely on, and will be protected in
relying on, instructions from the Depositary or its nominee for all purposes (including with
respect to the registration and delivery, and the respective principal amounts, of the Debt
Securities to be issued).

          SECTION 2.16. Medium Term Securities. Notwithstanding any contrary provision herein,
if all Debt Securities of a series are not to be originally issued at one time, it shall not be
necessary for the Company to deliver to the Trustee an Officers’ Certificate, resolutions of the
Board of Directors, supplemental Indenture, Opinion of Counsel or written order or any other
document otherwise required pursuant to Section 2.01, 2.03, 2.05 or 13.05 at or prior to the time
of authentication of each Debt Security of such series if such documents are delivered to the
Trustee or its agent at or prior to the authentication upon original issuance of the first such
Debt Security of such series to be issued; provided, that any subsequent request by the Company to
the Trustee to authenticate Debt Securities of such series upon original issuance shall constitute
a representation and warranty by the Company that, as of the date of such request, the statements
made in the Officers’ Certificate delivered pursuant to Section 2.05 or 13.05 shall be true and
correct as if made on such date and that the Opinion of Counsel delivered at or prior to such time
of authentication of an original issuance of Debt Securities shall specifically state that it shall
relate to all subsequent issuances of Debt Securities of such series that are identical to the Debt
Securities issued in the first issuance of Debt Securities of such series.

          A Company Order delivered by the Company to the Trustee in the circumstances set forth in the
preceding paragraph, may provide that Debt Securities which are the subject thereof will be
authenticated and delivered by the Trustee or its agent on original issue from time to time upon
the telephonic or written order of Persons designated in such written order (any such telephonic
instructions to be promptly confirmed in writing by such Person) and that such Persons are
authorized to determine, consistent with the Officers’ Certificate, supplemental

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Indenture or resolution of the Board of Directors relating to such written order, such terms
and conditions of such Debt Securities as are specified in such Officers’ Certificate, supplemental
Indenture or such resolution.

          SECTION 2.17. Defaulted Interest. Any interest on any Debt Security of a particular
series which is payable, but is not punctually paid or duly provided for, on the dates and in the
manner provided in the Debt Securities of such series and in this Indenture (herein called
“Defaulted Interest”) shall forthwith cease to be payable to the Registered Holder thereof on the
relevant record date by virtue of having been such Registered Holder, and such Defaulted Interest
may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:

     (i) The Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Registered Securities of such series are registered at the close of business
on a special record date for the payment of such Defaulted Interest, which shall be fixed in
the following manner: The Company shall notify the Trustee in writing of the amount of
Defaulted Interest proposed to be paid on each such Registered Security of such series and
the date of the proposed payment, and at the same time the Company shall deposit with the
Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of
such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such
deposit prior to the date of the proposed payment, such money when deposited to be held in
trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause
provided. Thereupon the Trustee shall fix a special record date for the payment of such
Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to
the date of the proposed payment and not less than 10 days after the receipt by the Trustee
of the notice of the proposed payment. The Trustee shall promptly notify the Company of
such special record date and, in the name and at the expense of the Company, shall cause
notice of the proposed payment of such Defaulted Interest and the special record date
therefor to be mailed, first class postage prepaid, to each Holder thereof at its address as
it appears in the Security Register, not less than 10 days prior to such special record
date. Notice of the proposed payment of such Defaulted Interest and the special record date
therefor having been so mailed, such Defaulted interest shall be paid to the Persons in
whose names the Registered Securities of such series are registered at the close of business
on such special record date.

     (ii) The Company may make payment of any Defaulted Interest on the Registered
Securities of such series in any other lawful manner not inconsistent with the requirements
of any securities exchange on which the Registered Securities of such series may be listed,
and upon such notice as may be required by such exchange, if, after notice given by the
Company to the Trustee of the proposed payment pursuant to this clause, such manner of
payment shall be deemed practicable by the Trustee.

          SECTION 2.18. Judgments. The Company may provide pursuant to Section 2.03 for Debt
Securities of any series that (a) the obligation, if any, of the Company to pay the principal of,
and premium, if any, and interest on, the Debt Securities of any series in a Foreign Currency or
Dollars (the “Designated Currency”) as may be specified pursuant to Section 2.03 is

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of the essence and agrees that, to the fullest extent possible under applicable law, judgments
in respect of Debt Securities of such series shall be given in the Designated Currency; (b) the
obligation of the Company to make payments in the Designated Currency of the principal of, and
premium, if any, and interest on, such Debt Securities shall, notwithstanding any payment in any
other Currency (whether pursuant to a judgment or otherwise), be discharged only to the extent of
the amount in the Designated Currency that the Holder receiving such payment may, in accordance
with normal banking procedures, purchase with the sum paid in such other Currency (after any
premium and cost exchange) on the business day in the country of issue of the Designated Currency
or in the international banking community (in the case of a composite currency) immediately
following the day on which such Holder receives such payment; (c) if the amount in the Designated
Currency that may be so purchased for any reason falls short of the amount originally due, the
Company shall pay such additional amounts as may be necessary to compensate for such shortfall; and
(d) any obligation of the Company not discharged by such payment shall be due as a separate and
independent obligation and, until discharged as provided herein, shall continue in full force and
effect.

ARTICLE III

Redemption of Debt Securities

          SECTION 3.01. Applicability of Article. The provisions of this Article shall be
applicable to the Debt Securities of any series which are redeemable before their Stated Maturity
except as otherwise specified as contemplated by Section 2.03 for Debt Securities of such series.

          SECTION 3.02. Notice of Redemption; Selection of Debt Securities. In case the
Company shall desire to exercise the right to redeem all or, as the case may be, any part of the
Debt Securities of any series in accordance with their terms, a resolution of the Board of
Directors of the Company or a supplemental Indenture, the Company shall fix a date for redemption
and shall give notice of such redemption at least 30 and not more than 60 days prior to the date
fixed for redemption to the Holders of Debt Securities of such series so to be redeemed as a whole
or in part, in the manner provided in Section 13.03. The notice if given in the manner herein
provided shall be conclusively presumed to have been duly given, whether or not the Holder receives
such notice. In any case, failure to give such notice or any defect in the notice to the Holder of
any Debt Security of a series designated for redemption as a whole or in part shall not affect the
validity of the proceedings for the redemption of any other Debt Security of such series.

          Each such notice of redemption shall specify the date fixed for redemption, the redemption
price at which Debt Securities of such series are to be redeemed, the Place or Places of Payment
that payment will be made upon presentation and surrender of such Debt Securities, that any
interest accrued to the date fixed for redemption will be paid as specified in said notice, that
the redemption is for a sinking fund payment (if applicable), that, if the Company defaults on
making such redemption payment or if the Debt Securities of that series are subordinated pursuant
to the terms of Article XII the paying agent is prohibited from making such payment pursuant to the
terms of this Indenture, that on and after said date any interest thereon or on the portions
thereof to be redeemed will cease to accrue, that in the case of Original Issue Discount

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Securities original issue discount accrued after the date fixed for redemption will cease to
accrue, the terms of the Debt Securities of that series pursuant to which the Debt Securities of
that series are being redeemed and that no representation is made as to the correctness or accuracy
of the CUSIP number, if any, listed in such notice or printed on the Debt Securities of that
series. If less than all the Debt Securities of a series are to be redeemed the notice of
redemption shall specify the CUSIP numbers of the Debt Securities of that series to be redeemed.
In case any Debt Security of a series is to be redeemed in part only, the notice of redemption
shall state the portion of the principal amount thereof to be redeemed and shall state that on and
after the date fixed for redemption, upon surrender of such Debt Security, a new Debt Security or
Debt Securities of that series will be issued in principal amount equal to the unredeemed portion
thereof.

          At least 60 days before the redemption date unless the Trustee consents to a shorter period,
the Company shall give notice to the Trustee of the redemption date, the principal amount of Debt
Securities to be redeemed and the series and terms of the Debt Securities pursuant to which such
redemption will occur. Such notice shall be accompanied by an Officers’ Certificate and an Opinion
of Counsel from the Company to the effect that such redemption will comply with the conditions
herein. If fewer than all the Debt Securities of a series are to be redeemed, the record date
relating to such redemption shall be selected by the Company and given to the Trustee, which record
date shall be not less than 15 days after the date of notice to the Trustee.

          On or prior to the redemption date for any Registered Securities, the Company shall deposit
with the Trustee or with a paying agent (or, if the Company is acting as its own paying agent,
segregate and hold in trust) an amount of money in the Currency in which such Debt Securities are
denominated (except as provided pursuant to Section 2.03) sufficient to pay the redemption price of
such Registered Securities or any portions thereof that are to be redeemed on that date.

          If less than all the Debt Securities of like tenor and terms of a series are to be redeemed
(other than pursuant to mandatory sinking fund redemptions) the Trustee shall select, in such
manner as in its sole discretion it shall deem appropriate and fair, the Debt Securities of that
series or portions thereof (in multiples of $1,000) to be redeemed. In any case where more than
one Registered Security of such series is registered in the same name, the Trustee in its
discretion may treat the aggregate principal amount so registered as if it were represented by one
Registered Security of such series. The Trustee shall promptly notify the Company in writing of
the Debt Securities selected for redemption and, in the case of any Debt Securities selected for
partial redemption, the principal amount thereof to be redeemed. If any Debt Security called for
redemption shall not be so paid upon surrender thereof on such redemption date, the principal,
premium, if any, and interest shall bear interest until paid from the redemption date at the rate
borne by the Debt Securities of that series. If less than all the Debt Securities of unlike tenor
and terms of a series are to be redeemed, the particular Debt Securities to be redeemed shall be
selected by the Company. Provisions of this Indenture that apply to Debt Securities called for
redemption also apply to portions of Debt Securities called for redemption.

          SECTION 3.03. Payment of Debt Securities Called for Redemption. If notice of
redemption has been given as provided in Section 3.02, the Debt Securities or portions of Debt

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Securities of the series with respect to which such notice has been given shall become due and
payable on the date and at the Place or Places of Payment stated in such notice at the applicable
redemption price, together with any interest accrued to the date fixed for redemption, and on and
after said date (unless the Company shall default in the payment of such Debt Securities at the
applicable redemption price, together with any interest accrued to said date) any interest on the
Debt Securities or portions of Debt Securities of any series so called for redemption shall cease
to accrue and any original issue discount in the case of Original Issue Discount Securities shall
cease to accrue. On presentation and surrender of such Debt Securities at the Place or Places of
Payment in said notice specified, the said Debt Securities or the specified portions thereof shall
be paid and redeemed by the Company at the applicable redemption price, together with any interest
accrued thereon to the date fixed for redemption.

          Any Debt Security that is to be redeemed only in part shall be surrendered at the corporate
trust office or such other office or agency of the Company as is specified pursuant to Section
2.03, if the Company, the Registrar or the Trustee so requires, due endorsement by, or a written
instrument of transfer in form satisfactory to the Company, the Registrar and the Trustee duly
executed by, the Holder thereof or his attorney duly authorized in writing, and the Company shall
execute, and the Trustee shall authenticate and deliver to the Holder of such Debt Security without
service charge, a new Debt Security or Debt Securities of the same series, of like tenor and form,
of any authorized denomination as requested by such Holder in aggregate principal amount equal to
and in exchange for the unredeemed portion of the principal of the Debt Security so surrendered;
except that if a Global Security is so surrendered, the Company shall execute, and the Trustee
shall authenticate and deliver to the Depositary for such Global Security, without service charge,
a new Global Security in a denomination equal to and in exchange for the unredeemed portion of the
principal of the Global Security so surrendered. In the case of a Debt Security providing
appropriate space for such notation, at the option of the Holder thereof, the Trustee, in lieu of
delivering a new Debt Security or Debt Securities as aforesaid, may make a notation on such Debt
Security of the payment of the redeemed portion thereof.

          SECTION 3.04. Mandatory and Optional Sinking Funds. The minimum amount of any
sinking fund payment provided for by the terms of Debt Securities of any series, resolution of the
Board of Directors or a supplemental Indenture is herein referred to as a “mandatory sinking fund
payment”, and any payment in excess of such minimum amount provided for by the terms of Debt
Securities of any series, resolution of the Board of Directors or a supplemental Indenture is
herein referred to as an “optional sinking fund payment”.

          In lieu of making all or any part of any mandatory sinking fund payment with respect to any
Debt Securities of a series in cash, the Company may at its option (a) deliver to the Trustee Debt
Securities of that series theretofore purchased or otherwise acquired by the Company or (b) receive
credit for the principal amount of Debt Securities of that series which have been redeemed either
at the election of the Company pursuant to the terms of such Debt Securities or through the
application of permitted optional sinking fund payments pursuant to the terms of such Debt
Securities, resolution or supplemental Indenture; provided, that such Debt Securities have not been
previously so credited. Such Debt Securities shall be received and credited for such purpose by
the Trustee at the redemption price specified in such Debt

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Securities, resolution or supplemental Indenture for redemption through operation of the
sinking fund and the amount of such mandatory sinking fund payment shall be reduced accordingly.

          SECTION 3.05. Redemption of Debt Securities for Sinking Fund. Not less than 60 days
prior to each sinking fund payment date for any series of Debt Securities, the Company will deliver
to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund
payment for that series pursuant to the terms of that series, any resolution or supplemental
Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency
in which the Debt Securities of such series are denominated (except as provided pursuant to Section
2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt
Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously
redeemed, will accompany such certificate) and whether the Company intends to exercise its right to
make any permitted optional sinking fund payment with respect to such series. Such certificate
shall also state that no Event of Default has occurred and is continuing with respect to such
series. Such certificate shall be irrevocable and upon its delivery the Company shall be obligated
to make the cash payment or payments therein referred to, if any, on or before the next succeeding
sinking fund payment date. Failure of the Company to deliver such certificate (or to deliver the
Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall
require that the sinking fund payment due on the next succeeding sinking fund payment date for that
series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of
such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or
credit Debt Securities as provided in this Section 3.05 and without the right to make any optional
sinking fund payment, if any, with respect to such series.

          Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused
balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000
(or a lesser sum if the Company shall so request) with respect to the Debt Securities of any
particular series shall be applied by the Trustee on the sinking fund payment date on which such
payment is made (or, if such payment is made before a sinking fund payment date, on the sinking
fund payment date following the date of such payment) to the redemption of such Debt Securities at
the Redemption Price specified in such Debt Securities, resolution or supplemental Indenture for
operation of the sinking fund together with any accrued interest to the date fixed for redemption.
Any sinking fund moneys not so applied or allocated by the Trustee to the redemption of Debt
Securities shall be added to the next cash sinking fund payment received by the Trustee for such
series and, together with such payment, shall be applied in accordance with the provisions of this
Section 3.05. Any and all sinking fund moneys with respect to the Debt Securities of any
particular series held by the Trustee on the last sinking fund payment date with respect to Debt
Securities of such series and not held for the payment or redemption of particular Debt Securities
shall be applied by the Trustee, together with other moneys, if necessary, to be deposited
sufficient for the purpose, to the payment of the principal of the Debt Securities of that series
at its Stated Maturity.

          The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment
date in the manner specified in the last paragraph of Section 3.02 and the Company shall cause
notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the
notice of redemption shall also state that the Debt Securities are

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being redeemed by operation of the sinking fund. Such notice having been duly given, the
redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section
3.03.

          At least one business day before each sinking fund payment date, the Company shall pay to the
Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold
in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated
(except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for
redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date
pursuant to this Section 3.05.

          The Trustee shall not redeem any Debt Securities of a series with sinking fund moneys or mail
any notice of redemption of such Debt Securities by operation of the sinking fund for such series
during the continuance of a Default in payment of interest on such Debt Securities or of any Event
of Default (other than an Event of Default occurring as a consequence of this paragraph) with
respect to such Debt Securities, except that if the notice of redemption of any such Debt
Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee
shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the
Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid,
any moneys in the sinking fund for such series at the time when any such Default or Event of
Default shall occur and any moneys thereafter paid into such sinking fund shall, during the
continuance of such Default or Event of Default, be held as security for the payment of such Debt
Securities; provided, however, that in case such Event of Default or Default shall
have been cured or waived as provided herein, such moneys shall thereafter be applied on the next
sinking fund payment date for such Debt Securities on which such moneys may be applied pursuant to
the provisions of this Section 3.05.

ARTICLE IV

Particular Covenants of the Company

          SECTION 4.01. Payment of Principal of, and Premium, If Any, and Interest on, Debt
Securities. The Company, for the benefit of each series of Debt Securities, will duly and
punctually pay or cause to be paid the principal of, and premium, if any, and interest on, each of
the Debt Securities at the place, at the respective times and in the manner provided herein and in
the Debt Securities. Each installment of interest on the Debt Securities may at the Company’s
option be paid by mailing checks for such interest payable to the Person entitled thereto to the
address of such Person as it appears on the Debt Security Register maintained pursuant to Section
2.07(a).

          Principal, premium and interest of Debt Securities of any series shall be considered paid on
the date due if on such date the Trustee or any paying agent holds in accordance with this
Indenture money sufficient to pay in the Currency in which the Debt Securities of such series are
denominated (except as provided pursuant to Section 2.03) all principal, premium and interest then
due and, in the case of Debt Securities subordinated pursuant to the terms of Article XII, the
Trustee or such paying agent, as the case may be, is not

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prohibited from paying such money to the Holders on that date pursuant to the terms of the
Indenture.

          The Company shall pay interest on overdue principal at the rate specified therefor in the Debt
Securities and it shall pay interest on overdue installments of interest at the same rate to the
extent lawful.

          SECTION 4.02. Maintenance of Offices or Agencies for Registration of Transfer, Exchange
and Payment of Debt Securities. The Company will maintain in each Place of Payment for any
series of Debt Securities, an office or agency where Debt Securities of such series may be
presented or surrendered for payment, where Debt Securities of such series may be surrendered for
transfer or exchange and where notices and demands to or upon the Company in respect of the Debt
Securities of such series and this Indenture may be served. The Company will give prompt written
notice to the Trustee of the location, and any change in the location, of such office or agency.
If at any time the Company shall fail to maintain any such required office or agency or shall fail
to furnish the Trustee with the address thereof, such presentations, surrenders, notices and
demands may be made or served at the corporate trust office of the Trustee, and the Company hereby
appoints the Trustee as its agent to receive all presentations, surrenders, notices and demands.

          The Company may also from time to time designate different or additional offices or agencies
to be maintained for such purposes (in or outside of such Place of Payment), and may from time to
time rescind any such designation; provided, however, that no such designation or
rescission shall in any manner relieve the Company of its obligations described in the preceding
paragraph. The Company will give prompt written notice to the Trustee of any such additional
designation or rescission of designation and any change in the location of any such different or
additional office or agency.

          SECTION 4.03. Appointment to Fill a Vacancy in the Office of Trustee. The Company,
whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner
provided in Section 7.08, a Trustee, so that there shall at all times be a Trustee hereunder with
respect to each series of Debt Securities.

          SECTION 4.04. Duties of Paying Agents, etc.

          (a) The Company shall cause each paying agent, if any, other than the Trustee, to execute and
deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to
the provisions of this Section 4.04,

     (i) that it will hold all sums held by it as such agent for the payment of the
principal of, and premium, if any, or interest on, the Debt Securities of any series
(whether such sums have been paid to it by the Company or by any other obligor on
the Debt Securities of such series) in trust for the benefit of the Holders of the
Debt Securities of such series;

     (ii) that it will give the Trustee notice of any failure by the Company (or by
any other obligor on the Debt Securities of such series) to make any payment

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of the principal of and premium, if any, or interest on, the Debt Securities of
such series when the same shall be due and payable; and

     (iii) that it will at any time during the continuance of an Event of Default,
upon the written request of the Trustee, forthwith pay to the Trustee all sums so
held by it as such agent.

          (b) If the Company shall act as its own paying agent, it will, on or before each due date of
the principal of, and premium, if any, or interest on, the Debt Securities if any, of any series,
set aside, segregate and hold in trust for the benefit of the Holders of the Debt Securities of
such series a sum sufficient to pay such principal, premium, if any, or interest so becoming due.
The Company will promptly notify the Trustee of any failure by the Company to take such action or
the failure by any other obligor on such Debt Securities to make any payment of the principal of,
and premium, if any, or interest on, such Debt Securities when the same shall be due and payable.

          (c) Anything in this Section 4.04 to the contrary notwithstanding, the Company may, at any
time, for the purpose of obtaining a satisfaction and discharge of this Indenture, or for any other
reason, pay or cause to be paid to the Trustee all sums held in trust by it or any paying agent, as
required by this Section 4.04, such sums to be held by the Trustee upon the same terms as those
upon which such sums were held by the Company or such paying agent.

          (d) Whenever the Company shall have one or more paying agents with respect to any series of
Debt Securities, it will, prior to each due date of the principal of, and premium, if any, or
interest on, any Debt Securities of such series, deposit with any such paying agent a sum
sufficient to pay the principal, premium or interest so becoming due, such sum to be held in trust
for the benefit of the Persons entitled thereto, and (unless any such paying agent is the Trustee)
the Company will promptly notify the Trustee of its action or failure so to act.

          (e) Anything in this Section 4.04 to the contrary notwithstanding, the agreement to hold sums
in trust as provided in this Section 4.04 is subject to the provisions of Section 11.05.

          SECTION 4.05. Statement by Officers as to Default. The Company will deliver to the
Trustee, on or before a date not more than four months after the end of each fiscal year of the
Company (currently ending on December 31 of each year) ending after the date hereof, an Officers’
Certificate stating, as to each officer signing such certificate, that (i) in the course of his
performance of his duties as an officer of the Company he would normally have knowledge of any
Default, (ii) whether or not to the best of his knowledge any Default occurred during such year and
(iii) if to the best of his knowledge the Company is in Default, specifying all such Defaults and
what action the Company is taking or proposes to take with respect thereto. The Company also shall
comply with Section 314(a)(4) of the Trust Indenture Act.

          SECTION 4.06. Further Instruments and Acts. The Company will, upon request of the
Trustee, execute and deliver such further instruments and do such further acts as may reasonably be
necessary or proper to carry out more effectually the purposes of this Indenture.

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          SECTION 4.07. Corporate Existence. Subject to Article X, the Company shall do or
cause to be done all things necessary to preserve and keep in full force and effect the corporate
existence and related rights and franchises (charges and statutory) of the Company and each of its
Subsidiaries; provided, however, that the Company shall not be required to preserve
any such right or franchise for the corporate existence of any such Subsidiary if the Board of
Directors of the Company shall determine that the preservation thereof is no longer desirable in
the conduct of the business of the Company and its Subsidiaries as a whole and that the loss
thereof would not reasonably be expected to have a material adverse effect on the ability of the
Company to perform its obligations hereunder; and provided, further,
however, that the foregoing shall not prohibit a sale, transfer or conveyance of a
Subsidiary of the Company or any of its assets in compliance with the terms of this Indenture.

          SECTION 4.08. Maintenance of Properties. The Company shall cause all material
properties owned by the Company or any of its Subsidiaries or used or held for use in the conduct
of its business or the business of any of its Subsidiaries to be maintained and kept in good
condition, repair and working order (ordinary wear and tear excepted) and supplied with all
necessary equipment and will cause to be made all necessary repairs, renewals, replacements,
betterments and improvements thereof, all as in the reasonable judgment of the Company may be
consistent with sound business practice and necessary so that the business carried on in connection
therewith may be properly conducted at all times; provided, however, that nothing
in this Section shall prevent the Company from discontinuing the maintenance of any of such
properties if such discontinuance is, in the reasonable judgment of the Company, desirable in the
conduct of its business or the business of any of its Subsidiaries and not reasonably expected to
have a material adverse effect on the ability of the Company to perform its obligations hereunder.

          SECTION 4.09. Payment of Taxes and Other Claims. The Company shall pay or discharge
or cause to be paid or discharged, on or before the date the same shall become due and payable, (a)
all taxes, assessments and governmental charges levied or imposed upon the Company or any of its
Subsidiaries or otherwise assessed or upon the income, profits or property of the Company or any of
its Subsidiaries if failure to pay or discharge the same could reasonably be expected to have a
material adverse effect on the ability of the Company to perform its obligations hereunder and (b)
all lawful claims for labor, materials and supplies, which, if unpaid, would by law become a Lien
upon the property of the Company or any of its Subsidiaries, except for any Lien permitted to be
incurred under Section 4.10, if failure to pay or discharge the same could reasonably be expected
to have a material adverse effect on the ability of the Company to perform its obligations
hereunder; provided, however, that the Company shall not be required to pay or
discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount,
applicability or validity is being contested in good faith by appropriate proceedings properly
instituted and diligently conducted and in respect of which appropriate reserves (in the good faith
judgment of management of the Company) are being maintained in accordance with GAAP.

          SECTION 4.10. Limitation on Liens. Unless the Company contemporaneously secures the
Debt Securities equally and ratably with (or prior to) such obligation, the Company shall not, and
shall not permit any of its Subsidiaries to, directly or indirectly, create or permit to exist any
Lien on any Principal Property, or any shares of stock or any Indebtedness of any

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Restricted Subsidiary whether owned on the Issue Date or thereafter acquired, securing any
obligation except for:

     (1) Permitted Liens; or

     (2) Liens other than those referred to in Section 4.10(i) above securing Indebtedness
if, after giving pro forma effect to the Incurrence of such Indebtedness (and the receipt
and application of the proceeds thereof) or the securing of outstanding Indebtedness, all
Indebtedness of the Company and its Subsidiaries secured by Liens on Principal Property
(other then Permitted Liens) at the time of determination does not exceed 10% of the total
consolidated stockholders’ equity of the Company as shown on the audited consolidated
balance sheet contained in the latest annual report to stockholders of the Company.

ARTICLE V

Holders’ Lists and Reports

by the Company And the Trustee

          SECTION 5.01. Company to Furnish Trustee Information as to Names and Addresses of
Holders; Preservation of Information. The Company covenants and agrees that it will furnish or
cause to be furnished to the Trustee with respect to the Registered Securities of each series:

     (1) not more than 15 days after each record date with respect to the payment of
interest, if any, a list, in such form as the Trustee may reasonably require, of the names
and addresses of the Registered Holders as of such record date, and

     (2) at such other times as the Trustee may request in writing, within 30 days after the
receipt by the Company of any such request, a list as of a date not more than 15 days prior
to the time such list is furnished;

provided, however, that so long as the Trustee shall be the Registrar, such lists
shall not be required to be furnished.

          The Trustee shall preserve, in as current a form as is reasonably practicable, all information
as to the names and addresses of the Holders (i) contained in the most recent list furnished to it
as provided in this Section 5.01 or (ii) received by it in the capacity of paying agent or
Registrar (if so acting) hereunder.

          The Trustee may destroy any List furnished to it as provided in this Section 5.01 upon receipt
of a new List so furnished.

          SECTION 5.02. Communications to Holders. Holders may communicate pursuant to Section
312(b) of the Trust Indenture Act with other Holders with respect to their

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rights under this Indenture or the Debt Securities. The Company, the Trustee, the Registrar
and anyone else shall have the protection of Section 312(c) of the Trust Indenture Act.

          SECTION 5.03. Reports by Company.

          (a) The Company covenants and agrees, and any obligor hereunder shall covenant and agree, to
file with the Trustee, within 15 days after the Company or such obligor, as the case may be, is
required to file the same with the Securities and Exchange Commission, copies of the annual reports
and of the information, documents and other reports (or copies of such portions of any of the
foregoing as said Commission may from time to time by rules and regulations prescribe) which the
Company or such obligor, as the case may be, may be required to file with said Commission pursuant
to Section 13 or Section 15(d) of the Exchange Act; or, if the Company or such obligor, as the case
may be, is not required to file information, documents or reports pursuant to either of such
Sections, then to file with the Trustee and said Commission, in accordance with rules and
regulations prescribed from time to time by said Commission, such of the supplementary and periodic
information, documents and reports which may be required pursuant to Section 13 of the Exchange Act
in respect of a security listed and registered on a national securities exchange as may be
prescribed from time to time in such rules and regulations.

          (b) The Company covenants and agrees, and any obligor hereunder shall covenant and agree, to
file with the Trustee and the Securities and Exchange Commission, in accordance with the rules and
regulations prescribed from time to time by said Commission, such additional information,
documents, and reports with respect to compliance by the Company or such obligor, as the case may
be, with the conditions and covenants provided for in this Indenture as may be required from time
to time by such rules and regulations.

          SECTION 5.04. Reports by Trustee. The Trustee shall transmit to Holders such reports
concerning the Trustee and its actions under this Indenture as may be required pursuant to the
Trust Indenture Act at the time and in the manner provided pursuant thereto.

          Reports pursuant to this Section 5.04 shall be transmitted by mail:

     (1) to all Registered Holders, as the names and addresses of such Holders appear in the
Debt Security Register;

     (2) except in the cases of reports under Section 313(b)(2) of the Trust Indenture Act,
to each holder of a Debt Security of any series whose name and address appear in the
information preserved at the time by the Trustee in accordance with Section 5.02.

          A copy of each report at the time of its mailing to Holders shall be filed with the Securities
and Exchange Commission and each stock exchange (if any) on which the Debt Securities of any series
are listed. The Company agrees to notify promptly the Trustee whenever the Debt Securities of any
series become listed on any stock exchange and of any delisting thereof.

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          SECTION 5.05. Record Dates for Action by Holders. If the Company shall solicit from
the Holders of Debt Securities of any series any action (including the making of any demand or
request, the giving of any direction, notice, consent or waiver or the taking of any other action),
the Company may, at its option, by resolution of the Board of Directors, fix in advance a record
date for the determination of Holders of Debt Securities entitled to take such action, but the
Company shall have no obligation to do so. Any such record date shall be fixed at the Company’s
discretion. If such a record date is fixed, such action may be sought or given before or after the
record date, but only the Holders of Debt Securities of record at the close of business on such
record date shall be deemed to be Holders of Debt Securities for the purpose of determining whether
Holders of the requisite proportion of Debt Securities of such series Outstanding have authorized
or agreed or consented to such action, and for that purpose the Debt Securities of such series
Outstanding shall be computed as of such record date.

ARTICLE VI

Remedies of the Trustee and Holders in Event of Default

          SECTION 6.01. Events of Default. If any one or more of the following shall have
occurred and be continuing with respect to Debt Securities of any series (each of the following, an
“Event of Default”):

     (a) Default in the payment of any installment of interest upon any Debt Securities of
that series as and when the same shall become due and payable, whether or not such payment
shall be prohibited by Article XII, if applicable, and continuance of such default for a
period of 30 days; or

     (b) default in the payment of the principal of or premium, if any, on any Debt
Securities of that series as and when the same shall become due and payable, whether at
maturity, upon redemption, by declaration, upon required repurchase or otherwise, whether or
not such payment shall be prohibited by Article XII, if applicable; or

     (c) default in the payment of any sinking fund payment with respect to any Debt
Securities of that series as and when the same shall become due and payable; or

     (d) failure on the part of the Company to comply with Article X; or

     (e) failure on the part of the Company duly to observe or perform any other of the
covenants or agreements on the part of the Company in the Debt Securities of that series, in
any resolution of the Board of Directors authorizing the issuance of that series of Debt
Securities, in this Indenture with respect to such series or in any supplemental Indenture
with respect to such series (other than a covenant a default in the performance of which is
elsewhere in this Section specifically dealt with), continuing for a period of 60 days after
the date on which written notice specifying such failure and requiring the Company to remedy
the same shall have 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 25% in

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aggregate principal amount of the Debt Securities of that series at the time
Outstanding; or

     (f) Indebtedness of the Company or any Subsidiary of the Company is not paid within any
applicable grace period after final maturity or is accelerated by the holders thereof
because of a default, the total amount of such Indebtedness unpaid or accelerated exceeds
$30,000,000 or its Dollar Equivalent at the time and such default remains uncured or such
acceleration is not rescinded for 10 days after the date on which written notice specifying
such failure and requiring the Company to remedy the same shall have 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 25% in aggregate principal amount of the Debt Securities
of that series at the time Outstanding; or

     (g) the Company or any of its Restricted Subsidiaries shall (i) voluntarily commence
any proceeding or file any petition seeking relief under Title 11 of the United States Code
or any other Federal or State bankruptcy, insolvency or similar law, (ii) consent to the
institution of, or fail to controvert within the time and in the manner prescribed by law,
any such proceeding or the filing of any such petition, (iii) apply for or consent to the
appointment of a receiver, trustee, custodian, sequestrator or similar official for the
Company or any such Restricted Subsidiary or for a substantial part of its property, (iv)
file an answer admitting the material allegations of a petition filed against it in any such
proceeding, (v) make a general assignment for the benefit of creditors, (vi) admit in
writing its inability or fail generally to pay its debts as they become due, (vii) take
corporate action for the purpose of effecting any of the foregoing, or (viii) take any
comparable action under any foreign laws relating to insolvency; or

     (h) the entry of an order or decree by a court having competent jurisdiction in the
premises for (i) relief in respect of the Company or any of its Restricted Subsidiaries or a
substantial part of any of their property under Title 11 or the United States Code or any
other Federal or State bankruptcy, insolvency or similar law, (ii) the appointment of a
receiver, trustee, custodian, sequestrator or similar official for the Company or any such
Restricted Subsidiary or for a substantial part of any of their property (except any decree
or order appointing such official of any Restricted Subsidiary pursuant to a plan under
which the assets and operations of such Restricted Subsidiary are transferred to or combined
with another Subsidiary or Subsidiaries of the Company or to the Company) or (iii) the
winding-up or liquidation of the Company or any such Restricted Subsidiary (except any
decree or order approving or ordering the winding up or liquidation of the affairs of a
Restricted Subsidiary pursuant to a plan under which the assets and operations of such
Restricted Subsidiary are transferred to or combined with another Subsidiary or Subsidiaries
of the Company or to the Company); and such order or decree shall continue unstayed and in
effect for 60 consecutive days; or any similar relief is granted under any foreign laws and
the order or decree stays in effect for 60 consecutive days; or

     (i) any other Event of Default provided under the terms of the Debt Securities of that
series;

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then and in each and every case that an Event of Default with respect to Debt Securities of that
series at the time outstanding occurs and is continuing, unless the principal of and interest on
all the Debt Securities of that series shall have already become due and payable, either the
Trustee or the Holders of not less than 25% in aggregate principal amount of the Debt Securities of
that series then Outstanding hereunder, by notice in writing to the Company (and to the Trustee if
given by Holders), may declare the principal of (or, if the Debt Securities of that series are
Original Issue Discount Debt Securities, such portion of the principal amount as may be specified
in the terms of that series) and interest on all the Debt Securities of that series to be due and
payable immediately, and upon any such declaration the same shall become and shall be immediately
due and payable, anything in this Indenture or in the Debt Securities of that series contained to
the contrary notwithstanding.

          The Holders of a majority in principal amount of the Debt Securities of a particular series by
notice to the Trustee may rescind an acceleration and its consequences if the rescission would not
conflict with any judgment or decree already rendered and if all existing Events of Default have
been cured or waived except nonpayment of principal or interest that has become due solely because
of acceleration. Upon any such rescission, the parties hereto shall be restored respectively to
their several positions and rights hereunder, and all rights, remedies and powers of the parties
hereto shall continue as though no proceeding had been taken.

          In case the Trustee or any Holder shall have proceeded to enforce any right under this
Indenture and such proceedings shall have been discontinued or abandoned because of such rescission
or annulment or for any other reason or shall have been determined adversely to the Trustee or such
Holder, then and in every such case the parties hereto shall be restored respectively to their
several positions and rights hereunder, and all rights, remedies and powers of the parties hereto
shall continue as though no such proceeding had been taken.

          The foregoing Events of Default shall constitute Events of Default whatever the reason for any
such Event of Default and whether it is voluntary or involuntary or is effected by operation of law
or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body.

          The Company shall deliver to the Trustee, within 30 days after the occurrence thereof, written
notice in the form of an Officers’ Certificate of any event which with the giving of notice and the
lapse of time would become an Event of Default under clause (c), (d), (e), (f), (g), (h) or (i),
its status and what action the Company is taking or proposes to take with respect thereto.

          SECTION 6.02. Collection of Indebtedness by Trustee, etc. If an Event of Default
occurs and is continuing, the Trustee, in its own name and as trustee of an express trust, shall be
entitled and empowered to institute any action or proceedings at law or in equity for the
collection of the sums so due and unpaid or enforce the performance of any provision of the Debt
Securities of the affected series or this Indenture, and may prosecute any such action or
proceedings to judgment or final decree, and may enforce any such judgment or final decree against
the Company or any other obligor upon the Debt Securities of such series (and collect in the manner
provided by law out of the property of the Company or any other obligor upon the Debt Securities of
such series wherever situated the moneys adjudged or decreed to be payable).

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          In case there shall be pending proceedings for the bankruptcy or for the reorganization of the
Company or any other obligor upon the Debt Securities of any series under Title 11 of the United
States Code or any other Federal or State bankruptcy, insolvency or similar law, or in case a
receiver, trustee or other similar official shall have been appointed for its property, or in case
of any other similar judicial proceedings relative to the Company or any other obligor upon the
Debt Securities of any series, its creditors or its property, the Trustee, irrespective of whether
the principal of Debt Securities of any series shall then be due and payable as therein expressed
or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand
pursuant to the provisions of this Section 6.02, shall be entitled and empowered, by intervention
in such proceedings or otherwise, to file and prove a claim or claims for the whole amount of
principal, premium, if any, and interest (or, if the Debt Securities of such series are Original
Issue Discount Debt Securities, such portion of the principal amount as may be specified in the
terms of such series) owing and unpaid in respect of the Debt Securities of such series, and to
file such other papers or documents as may be necessary or advisable in order to have the claims of
the Trustee (including any claim for reasonable compensation to the Trustee, its agents, attorneys
and counsel, and for reimbursement of all expenses and liabilities Incurred, and all advances made,
by the Trustee except as a result of its negligence or bad faith) and of the Holders thereof
allowed in any such judicial proceedings relative to the Company, or any other obligor upon the
Debt Securities of such series, its creditors or its property, and to collect and receive any
moneys or other property payable or deliverable on any such claims, and to distribute all amounts
received with respect to the claims of such Holders and of the Trustee on their behalf, and any
receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of such
Holders to make payments to the Trustee, and, in the event that the Trustee shall consent to the
making of payments directly to such Holders, to pay to the Trustee such amount as shall be
sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and
all other reasonable expenses and liabilities Incurred, and all advances made, by the Trustee
except as a result of its negligence or bad faith.

          All rights of action and of asserting claims under this Indenture, or under any of the Debt
Securities, of any series, may be enforced by the Trustee without the possession of any such Debt
Securities or the production thereof in any trial or other proceedings relative thereto, and any
such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of
an express trust, and any recovery of judgment (except for any amounts payable to the Trustee
pursuant to Section 7.06) shall be for the ratable benefit of the Holders of all the Debt
Securities in respect of which such action was taken.

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

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          SECTION 6.03. Application of Moneys Collected by Trustee. Any moneys or other
property collected by the Trustee pursuant to Section 6.02 with respect to Debt Securities of any
series shall be applied, after giving effect to the provisions of Article XII, if applicable, in
the order following, at the date or dates fixed by the Trustee for the distribution of such moneys
or other property, upon presentation of the several Debt Securities of such series in respect of
which moneys or other property have been collected, and the notation thereon of the payment, if
only partially paid, and upon surrender thereof if fully paid:

     First: To the payment of all money due the Trustee pursuant to Section 7.06;

     Second: In case the principal of the Outstanding Debt Securities in respect of
which such moneys have been collected shall not have become due, to the payment of interest
on the Debt Securities of such series in the order of the maturity of the installments of
such interest, with interest (to the extent that such interest has been collected by the
Trustee) upon the overdue installments of interest at the rate or Yield to Maturity (in the
case of Original Issue Discount Debt Securities) borne by the Debt Securities of such
series, such payments to be made ratably to the Persons entitled thereto, without
discrimination or preference;

     Third: In case the principal of the Outstanding Debt Securities in respect of
which such moneys have been collected shall have become due, by declaration or otherwise, to
the payment of the whole amount then owing and unpaid upon the Debt Securities of such
series for principal and premium, if any, and interest, with interest on the overdue
principal and premium, if any, and (to the extent that such interest has been collected by
the Trustee) upon overdue installments of interest at the rate or Yield to Maturity (in the
case of Original Issue Discount Debt Securities) borne by the Debt Securities of such
series; and, in case such moneys shall be insufficient to pay in full the whole amount so
due and unpaid upon the Debt Securities of such series, then to the payment of such
principal and premium, if any, and interest, without preference or priority of principal and
premium, if any, over interest, or of interest over principal and premium, if any, or of any
installment of interest over any other installment of interest, or of any Debt Security of
such series over any Debt Security of such series, ratably to the aggregate of such
principal and premium, if any, and interest; and

     Fourth: The remainder, if any, shall be paid to the Company, its successors or
assigns, or to whomsoever may be lawfully entitled to receive the same, or as a court of
competent jurisdiction may direct.

          The Trustee may fix a record date and payment date for any payment to Holders pursuant to this
Section 6.03. At least 15 days before such record date, the Company shall mail to each Holder and
the Trustee a notice that states the record date, the payment date and amount to be paid.

          SECTION 6.04. Limitation on Suits by Holders. No Holder of any Debt Security of any
series shall have any right by virtue or by availing of any provision of this Indenture to
institute any action or proceeding at law or in equity or in bankruptcy or otherwise, upon or under
or with respect to this Indenture, or for the appointment of a receiver or trustee, or for any

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other remedy hereunder, unless such Holder previously shall have given to the Trustee written
notice of an Event of Default with respect to Debt Securities of that same series and of the
continuance thereof and unless the Holders of not less than 25% in aggregate principal amount of
the Outstanding Debt Securities of that series shall have made written request upon the Trustee to
institute such action or proceedings in respect of such Event of Default in its own name as Trustee
hereunder and shall have offered to the Trustee such reasonable indemnity as it may require against
the costs, expenses and liabilities to be Incurred therein or thereby, and the Trustee, for 60 days
after its receipt of such notice, request and offer of indemnity shall have failed to institute any
such action or proceedings and no direction inconsistent with such written request shall have been
given to the Trustee pursuant to Section 6.06; it being understood and intended, and being
expressly covenanted by the Holder of every Debt Security with every other Holder and the Trustee,
that no one or more Holders shall have any right in any manner whatever by virtue or by availing of
any provision of this Indenture to affect, disturb or prejudice the rights of any Holders, or to
obtain or seek to obtain priority over or preference to any other such Holder, or to enforce any
right under this Indenture, except in the manner herein provided and for the equal, ratable and
common benefit of all such Holders. For the protection and enforcement of the provisions of this
Section 6.04, each and every Holder and the Trustee shall be entitled to such relief as can be
given either at law or in equity.

          Notwithstanding any other provision in this Indenture, however, the right of any Holder of any
Debt Security to receive payment of the principal of, and premium, if any, and (subject to Section
2.12) interest on, such Debt Security on or after the respective due dates expressed in such Debt
Security, and to institute suit for the enforcement of any such payment on or after such respective
dates, shall not be impaired or effected without the consent of such Holder.

          SECTION 6.05. Remedies Cumulative; Delay or Omission in Exercise of Rights Not a Waiver
of Default. All powers and remedies given by this Article VI to the Trustee or to the Holders
shall, to the extent permitted by law, be deemed cumulative and not exclusive of any thereof or of
any other powers and remedies available to the Trustee or the Holders, by judicial proceedings or
otherwise, to enforce the performance or observance of the covenants and agreements contained in
this Indenture, and no delay or omission of the Trustee or of any Holder to exercise any right or
power accruing upon any Default occurring and continuing as aforesaid, shall impair any such right
or power, or shall be construed to be a waiver of any such Default or an acquiescence therein; and,
subject to the provisions of Section 6.04, every power and remedy given by this Article VI or by
law to the Trustee or to the Holders may be exercised from time to time, and as often as shall be
deemed expedient, by the Trustee or by the Holders.

          SECTION 6.06. Rights of Holders of Majority in Principal Amount of Debt Securities to
Direct Trustee and to Waive Default. The Holders of a majority in aggregate principal amount
of the Debt Securities of any series at the time Outstanding shall have the right to direct the
time, method, and place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred on the Trustee, with respect to the Debt Securities of such
series; provided, however, that such direction shall not be otherwise than in
accordance with law and the provisions of this Indenture, and that subject to the provisions of
Section 7.01, the Trustee shall have the right to decline to follow any such direction if the
Trustee being advised by counsel shall determine that the action so directed may not lawfully be

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taken, or if the Trustee shall by a responsible officer or officers determine that the action
so directed would involve it in personal liability or would be unjustly prejudicial to Holders of
Debt Securities of such series not taking part in such direction; and provided further,
however, that nothing in this Indenture contained shall impair the right of the Trustee to
take any action deemed proper by the Trustee and which is not inconsistent with such direction by
such Holders. Prior to the acceleration of the maturity of the Debt Securities of any series, as
provided in Section 6.01, the Holders of a majority in aggregate principal amount of the Debt
Securities of that series at the time Outstanding may on behalf of the Holders of all the Debt
Securities of that series waive any past Default or Event of Default and its consequences for that
series specified in the terms thereof as contemplated by Section 2.03, except (i) a Default in the
payment of the principal of, and premium, if any, or interest on, any of the Debt Securities and
(ii) a Default in respect of a provision that under Section 9.02 cannot be amended without the
consent of each Holder affected thereby. In case of any such waiver, such Default shall cease to
exist, any Event of Default arising therefrom shall be deemed to have been cured for every purpose
of this Indenture, and the Company, the Trustee and the Holders of the Debt Securities of that
series shall be restored to their former positions and rights hereunder, respectively; but no such
waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

          SECTION 6.07. Trustee to Give Notice of Defaults Known to It, but May Withhold Such
Notice in Certain Circumstances. The Trustee shall, within 90 days after the occurrence of a
Default known to it with respect to a series of Debt Securities give to the Holders thereof, in the
manner provided in Section 13.03, notice of all Defaults with respect to such series known to the
Trustee, unless such Defaults shall have been cured or waived before the giving of such notice;
provided that, except in the case of Default in the payment of the principal of, or premium, if
any, or interest on, any of the Debt Securities of such series or in the making of any sinking fund
payment with respect to the Debt Securities of such series, the Trustee shall be protected in
withholding such notice if and so long as the board of directors, the executive committee or a
committee of directors or responsible officers of the Trustee in good faith determine that the
withholding of such notice is in the interests of the Holders thereof.

          SECTION 6.08. Requirement of an Undertaking To Pay Costs in Certain Suits under the
Indenture or Against the Trustee. All parties to this Indenture agree, and each Holder of any
Debt Security by his acceptance thereof shall be deemed to have agreed, that any court may in its
discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or
in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any
party litigant in such suit of an undertaking to pay the costs of such suit in the manner and to
the extent provided in the Trust Indenture Act, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit,
having due regard to the merits and good faith of the claims or defenses made by such party
litigant; but the provisions of this Section 6.08 shall not apply to any suit instituted by the
Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more
than ten percent in principal amount of the Outstanding Debt Securities of that series or to any
suit instituted by any Holder for the enforcement of the payment of the principal of, or premium,
if any, or interest on, any Debt Security on or after the due date for such payment expressed in
such Debt Security.

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ARTICLE VII

Concerning the Trustee

          SECTION 7.01. Certain Duties and Responsibilities. The Trustee, prior to the
occurrence of an Event of Default and after the curing or waiving of all Events of Default which
may have occurred, undertakes to perform such duties and only such duties as are specifically set
forth in this Indenture. In case an Event of Default has occurred (which has not been cured or
waived), the Trustee shall exercise such of the rights and powers vested in it by this Indenture,
and use the same degree of care and skill in their exercise, as a prudent man would exercise or use
under the circumstances in the conduct of his own affairs.

          No provision of this Indenture shall be construed to relieve the Trustee from liability for
its own negligent action, its own negligent failure to act, or its own willful misconduct, except
that:

     (a) this subsection shall not be construed to limit the effect of the first paragraph
of this Section 7.01;

     (b) prior to the occurrence of an Event of Default with respect to the Debt Securities
of a series and after the curing or waiving of all Events of Default with respect to such
series which may have occurred;

     (c) the duties and obligations of the Trustee with respect to Debt Securities of any
series shall be determined solely by the express provisions of this Indenture, and the
Trustee shall not be liable except for the performance of such duties and obligations with
respect to such series as are specifically set forth in this Indenture, and no implied
covenants or obligations with respect to such series shall be read into this Indenture
against the Trustee; and

     (d) in the absence of bad faith on the part of the Trustee, the Trustee may
conclusively rely, as to the truth of the statements and the correctness of the opinions
expressed therein, upon any certificates or opinions furnished to the Trustee and conforming
to the requirements of this Indenture; but in the case of any such certificates or opinions
which by any provision hereof are specifically required to be furnished to the Trustee, the
Trustee shall be under a duty to examine the same to determine whether or not they conform
to the requirements of this Indenture; but the Trustee shall examine the evidence furnished
to it pursuant to Section 5.03 to determine whether or not such evidence conforms to the
requirement of this Indenture;

     (e) the Trustee shall not be liable for an error of judgment made in good faith by a
responsible officer, unless it shall be proved that the Trustee was negligent in
ascertaining the pertinent facts; and

     (f) the Trustee shall not be liable with respect to any action taken or omitted to be
taken by it with respect to Debt Securities of any series in good faith in accordance with
the direction of the Holders of not less than a majority in aggregate principal amount

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of the Outstanding Debt Securities of that series relating to the time, method and
place of conducting any proceeding for any remedy available to the Trustee, or exercising
any trust or power conferred upon the Trustee, under this Indenture with respect to Debt
Securities of such series.

          None of the provisions of this Indenture shall require the Trustee to expend or risk its own
funds or otherwise incur any personal financial liability in the performance of any of its duties
hereunder, or in the exercise of any of its rights or powers, if there shall be reasonable grounds
for believing that repayment of such funds or adequate indemnity against such risk or liability is
not reasonably assured to it.

          Whether or not therein expressly so provided, every provision of this Indenture relating to
the conduct or affecting the liability of or affording protection to the Trustee shall be subject
to the provisions of this Section.

          SECTION 7.02. Certain Rights of Trustee. Except as otherwise provided in Section
7.01:

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

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

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

     (d) the Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request, order or direction of any of the Holders of
Debt Securities of any series pursuant to the provisions of this Indenture, unless such
Holders shall have offered to the Trustee reasonable security or indemnity against the
costs, expenses and liabilities which may be Incurred therein or thereby;

     (e) the Trustee shall not be liable for any action taken or omitted by it in good faith
and reasonably believed by it to be authorized or within the discretion or rights or powers
conferred upon it by this Indenture;

     (f) prior to the occurrence of an Event of Default and after the curing of all Events
of Default which may have occurred, the Trustee shall not be bound to make any investigation
into the facts or matters stated in any resolution, certificate, statement,

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instrument, opinion, report, notice, request, direction, consent, order, approval or
other paper or document, unless requested in writing to do so by the Holders of a majority
in aggregate principal amount of the then outstanding Debt Securities of a series affected
by such matter; provided, however, that if the payment within a reasonable
time to the Trustee of the costs, expenses or liabilities likely to be Incurred by it in the
making of such investigation is not, in the opinion of the Trustee, reasonably assured to
the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may
require reasonable indemnity against such costs, expenses or liabilities as a condition to
so proceeding. The reasonable expense of every such investigation shall be paid by the
Company or, if paid by the Trustee, shall be repaid by the Company upon demand;

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

     (h) if any property other then cash shall at any time be subject to a Lien in favor of
the Holders, the Trustee, if and to the extent authorized by a receivership or bankruptcy
court of competent jurisdiction or by the supplemental instrument subjecting such property
to such lien, shall be entitled to make advances for the purpose of preserving such property
or of discharging tax Liens or other prior Liens or encumbrances thereon.

          SECTION 7.03. Trustee Not Liable for Recitals in Indenture or in Debt Securities.
The recitals contained herein and in the Debt Securities (except the Trustee’s certificate of
authentication) shall be taken as the statements of the Company, and the Trustee assumes no
responsibility for the correctness of the same. The Trustee makes no representations as to the
validity or sufficiency of this Indenture or of the Debt Securities of any series, except that the
Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate
the Debt Securities and perform its obligations hereunder, and that the statements made by it or to
be made by it in a Statement of Eligibility and Qualification on Form T-1 supplied to the Company
are true and accurate. The Trustee shall not be accountable for the use or application by the
Company of any of the Debt Securities or of the proceeds thereof.

          SECTION 7.04. Trustee, Paying Agent or Registrar May Own Debt Securities. The
Trustee or any paying agent or Registrar, in its individual or any other capacity, may become the
owner or pledgee of Debt Securities and subject to the provisions of the Trust Indenture Act
relating to conflicts of interest and preferential claims may otherwise deal with the Company with
the same rights it would have if it were not Trustee, paying agent or Registrar.

          SECTION 7.05. Moneys Received by Trustee to Be Held in Trust. Subject to the
provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as
herein provided, be held in trust for the purposes for which they were received, but need not be
segregated from other funds except to the extent required by law. The Trustee shall be under no
liability for interest on any moneys received by it hereunder. So long as no Event of Default
shall have occurred and be continuing, all interest allowed on any such moneys shall be paid from
time to time to the Company upon a Company Order.

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          SECTION 7.06. Compensation and Reimbursement. The Company covenants and agrees to
pay in Dollars to the Trustee from time to time, and the Trustee shall be entitled to, reasonable
compensation for all services rendered by it hereunder (which shall not be limited by any provision
of law in regard to the compensation of a trustee of an express trust), and, except as otherwise
expressly provided herein, the Company will pay or reimburse in Dollars the Trustee upon its
request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in
accordance with any of the provisions of this Indenture (including the reasonable compensation and
the expenses and disbursements of its agents, attorneys and counsel and of all Persons not
regularly in its employ) except any such expense, disbursement or advances as may arise from its
negligence or bad faith. The Company also covenants to indemnify in Dollars the Trustee for, and
to hold it harmless against, any loss, liability or expense Incurred without negligence, willful
misconduct or bad faith on the part of the Trustee, arising out of or in connection with the
acceptance or administration of this trust or trusts hereunder, including the reasonable costs and
expenses of defending itself against any claim of liability in connection with the exercise or
performance of any of its powers or duties hereunder. The obligations of the Company under this
Section 7.06 to compensate and indemnify the Trustee and to pay or reimburse the Trustee for
expenses, disbursements and advances shall constitute additional indebtedness hereunder and shall
survive the satisfaction and discharge of this Indenture. The Company and the Holders agree that
such additional indebtedness shall be secured by a Lien prior to that of the Debt Securities upon
all property and funds held or collected by the Trustee, as such, except funds held in trust for
the payment of principal of, and premium, if any, or interest on, particular Debt Securities.

          When the Trustee incurs expenses or renders services after an Event of Default specified in
Section 6.01(g) or (h) occurs, the expenses and the compensation for the services are intended to
constitute expenses of administration under any bankruptcy, insolvency, reorganization or other
similar law.

          SECTION 7.07. Right of Trustee to Rely on an Officers’ Certificate Where No Other
Evidence Specifically Prescribed. Except as otherwise provided in Section 7.01, whenever in
the administration of the provisions of this Indenture the Trustee shall deem it necessary or
desirable that a matter be proved or established prior to taking or suffering or omitting any
action hereunder, such matter (unless other evidence in respect thereof be herein specifically
prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to
be conclusively proved and established by an Officers’ Certificate delivered to the Trustee and
such certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be
full warrant to the Trustee for any action taken, suffered or omitted by it under the provisions of
this Indenture upon the faith thereof.

          SECTION 7.08. Separate Trustee; Replacement of Trustee. The Company may, but need
not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may
resign with respect to one or more or all series of Debt Securities at any time by giving notice to
the Company. The Holders of a majority in principal amount of the Debt Securities of a particular
series may remove the Trustee for such series and only such series by so notifying the Trustee and
may appoint a successor Trustee. The Company shall remove the Trustee if:

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     (1) the Trustee fails to comply with Section 7.10;

     (2) the Trustee is adjudged bankrupt or insolvent;

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

     (4) the Trustee otherwise becomes incapable of acting.

          If the Trustee resigns, is removed by the Company or by the Holders of a majority in principal
amount of the Debt Securities of a particular series and such Holders do not reasonably promptly
appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the
Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly
appoint a successor Trustee. No resignation or removal of the Trustee and no appointment of a
successor Trustee shall become effective until the acceptance of appointment by the successor
Trustee in accordance with the applicable requirements of this Section 7.08.

          A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee shall have all the rights, powers and duties of the
Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to
Holders of Debt Securities of each applicable series. The retiring Trustee shall promptly transfer
all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in
Section 7.06.

          If a successor Trustee does not take office within 60 days after the retiring Trustee gives
notice of resignation or is removed, the retiring Trustee or the Holders of 25% in principal amount
of the Debt Securities of any applicable series may petition any court of competent jurisdiction
for the appointment of a successor Trustee for the Debt Securities of such series.

          If the Trustee fails to comply with Section 7.10, any Holder of Debt Securities of any
applicable series may petition any court of competent jurisdiction for the removal of the Trustee
and the appointment of a successor Trustee for the Debt Securities of such series.

          Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s
obligations under Section 7.06 shall continue for the benefit of the retiring Trustee.

          In the case of the appointment hereunder of a separate or successor trustee with respect to
the Debt Securities of one or more series, the Company, any retiring Trustee and each successor or
separate Trustee with respect to the Debt Securities of any applicable series shall execute and
deliver an Indenture supplemental hereto (1) which shall contain such provisions as shall be deemed
necessary or desirable to confirm that all the rights, powers, trusts and duties of any retiring
Trustee with respect to the Debt Securities of any series as to which any such retiring Trustee is
not retiring shall continue to be vested in such retiring Trustee and (2) that shall add to or
change any of the provisions of this Indenture as shall be necessary to provide for or facilitate
the administration of the trusts hereunder by more than one trustee, it being understood that

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nothing herein or in such supplemental Indenture shall constitute such Trustees co-trustees of
the same trust and that each such separate, retiring or successor Trustee shall be Trustee of a
trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any
other such Trustee.

          SECTION 7.09. Successor Trustee by Merger. If the Trustee consolidates with, merges
or converts into, or transfers all or substantially all of its corporate trust business or assets
to, another corporation or banking association, the resulting, surviving or transferee corporation
or banking association without any further act shall be the successor Trustee.

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

          SECTION 7.10. Eligibility; Disqualification. The Trustee shall at all times satisfy
the requirements of Section 310(a) of the Trust Indenture Act. The Trustee shall have a combined
capital and surplus of at least $50,000,000, as set forth in its most recent published annual
report of condition. No obligor upon the Debt Securities of a particular series or Person directly
or indirectly controlling, controlled by or under common control with such obligor shall serve as
Trustee upon the Debt Securities of such series. The Trustee shall comply with Section 310(b) of
the Trust Indenture Act; provided, however, that there shall be excluded from the
operation of Section 310(b)(1) of the Trust Indenture Act this Indenture or any indenture or
indentures under which other securities or certificates of interest or participation in other
securities of the Company are outstanding if the requirements for such exclusion set forth in
Section 310(b)(1) of the Trust Indenture Act are met.

          SECTION 7.11. Preferential Collection of Claims Against Company. The Trustee shall
comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship listed
in Section 311(b) of the Trust Indenture Act. A Trustee who had resigned or been removed shall be
subject to Section 311(a) of the Trust Indenture Act to the extent indicated therein.

          SECTION 7.12. Compliance with Tax Laws. The Trustee hereby agrees to comply with all
U.S. Federal income tax information reporting and withholding requirements applicable to it with
respect to payments of premium (if any) and interest on the Debt Securities, whether acting as
Trustee, Security Registrar, paying agent or otherwise with respect to the Debt Securities.

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ARTICLE VIII

Concerning the Holders

          SECTION 8.01. Evidence of Action by Holders. Whenever in this Indenture it is
provided that the Holders of a specified percentage in aggregate principal amount of the Debt
Securities of any or all series may take action (including the making of any demand or request, the
giving of any direction, notice, consent or waiver or the taking of any other action) the fact that
at the time of taking any such action the Holders of such specified percentage have joined therein
may be evidenced (a) by any instrument or any number of instruments of similar tenor executed by
Holders in person or by agent or proxy appointed in writing, (b) by the record of the Holders
voting in favor thereof at any meeting of Holders duly called and held in accordance with the
provisions of Section 5.02, or (c) by a combination of such instrument or instruments and any such
record of such a meeting of Holders.

          SECTION 8.02. Proof of Execution of Instruments and of Holding of Debt Securities.
Subject to the provisions of Sections 7.01, 7.02 and 13.09, proof of the execution of any
instrument by a Holder or his agent or proxy shall be sufficient if made in accordance with such
reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be
satisfactory to the Trustee.

          The ownership of Registered Securities of any series shall be proved by the Debt Security
Register or by a certificate of the Registrar for such series.

          The Trustee may require such additional proof of any matter referred to in this Section 8.02
as it shall deem necessary.

          SECTION 8.03. Who May Be Deemed Owner of Debt Securities. Prior to due presentment
for registration of transfer of any Registered Security, the Company, the Trustee, any paying agent
and any Registrar may deem and treat the Person in whose name any Registered Security shall be
registered upon the books of the Company as the absolute owner of such Registered Security (whether
or not such Registered Security shall be overdue and notwithstanding any notation of ownership or
other writing thereon) for the purpose of receiving payment of or on account of the principal of
and premium, if any, and (subject to Section 2.03) interest on such Registered Security and for all
other purposes, and neither the Company nor the Trustee nor any paying agent nor any Registrar
shall be affected by any notice to the contrary; and all such payments so made to any such Holder
for the time being, or upon his order, shall be valid and, to the extent of the sum or sums so
paid, effectual to satisfy and discharge the liability for moneys payable upon any such Registered
Security.

          None of the Company, the Trustee, any paying agent or the Registrar will have any
responsibility or liability for any aspect of the records relating to or payments made on account
of beneficial ownership interests in a Global Security or for maintaining, supervising or reviewing
any records relating to such beneficial ownership interests.

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          SECTION 8.04. Instruments Executed by Holders Bind Future Holders. At any time prior
to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any
action by the Holders of the percentage in aggregate principal amount of the Debt Securities of any
series specified in this Indenture in connection with such action and subject to the following
paragraph, any Holder of a Debt Security which is shown by the evidence to be included in the Debt
Securities the Holders of which have consented to such action may, by filing written notice with
the Trustee at its corporate trust office and upon proof of holding as provided in Section 8.02,
revoke such action so far as concerns such Debt Security. Except as aforesaid any such action
taken by the Holder of any Debt Security shall be conclusive and binding upon such Holder and upon
all future Holders and owners of such Debt Security and of any Debt Security issued upon transfer
thereof or in exchange or substitution therefor, irrespective of whether or not any notation in
regard thereto is made upon such Debt Security or such other Debt Securities. Any action taken by
the Holders of the percentage in aggregate principal amount of the Debt Securities of any series
specified in this Indenture in connection with such action shall be conclusively binding upon the
Company, the Trustee and the Holders of all the Debt Securities of such series.

          The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders of Registered Securities entitled to give their consent or take any other
action required or permitted to be taken pursuant to this Indenture. If a record date is fixed,
then notwithstanding the immediately preceding paragraph, those Persons who were Holders of
Registered Securities at such record date (or their duly designated proxies), and only those
Persons, shall be entitled to give such consent or to revoke any consent previously given or to
take any such action, whether or not such Persons continue to be Holders of Registered Securities
after such record date. No such consent shall be valid or effective for more than 120 days after
such record date unless the consent of the Holders of the percentage in aggregate principal amount
of the Debt Securities of such series specified in this Indenture shall have been received within
such 120-day period.

ARTICLE IX

Supplemental Indentures

          SECTION 9.01. Purposes for Which Supplemental Indenture May Be Entered into Without
Consent of Holders. The Company, when authorized by a resolution of the Board of Directors,
and the Trustee may from time to time and at any time, without the consent of Holders, enter into
an Indenture or Indentures supplemental hereto (which shall conform to the provisions of the Trust
Indenture Act as in force at the date of the execution thereof) for one or more of the following
purposes:

     (a) to evidence the succession pursuant to Article X of another Person to the Company,
or successive successions, and the assumption by the Successor Company (as defined in
Section 10.01) of the covenants, agreements and obligations of the Company in this Indenture
and in the Debt Securities;

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     (b) to surrender any right or power herein conferred upon the Company, to add to the
covenants of the Company such further covenants, restrictions, conditions or provisions for
the protection of the Holders of all or any series of Debt Securities (and if such covenants
are to be for the benefit of less than all series of Debt Securities, stating that such
covenants are expressly being included solely for the benefit of such series) as the Board
of Directors shall consider to be for the protection of the Holders of such Debt Securities,
and to make the occurrence, or the occurrence and continuance, of a Default in any of such
additional covenants, restrictions, conditions or provisions a Default or an Event of
Default permitting the enforcement of all or any of the several remedies provided in this
Indenture; provided, that in respect of any such additional covenant, restriction, condition
or provision such supplemental Indenture may provide for a particular period of grace after
Default (which period may be shorter or longer than that allowed in the case of other
Defaults) or may provide for an immediate enforcement upon such Default or may limit the
remedies available to the Trustee upon such Default or may limit the right of the Holders of
a majority in aggregate principal amount of any or all series of Debt Securities to waive
such default;

     (c) to cure any ambiguity or to correct or supplement any provision contained herein,
in any supplemental Indenture or in any Debt Securities of any series that may be defective
or inconsistent with any other provision contained herein, in any supplemental Indenture or
in the Debt Securities of such series; to convey, transfer, assign, mortgage or pledge any
property to or with the Trustee, or to make such other provisions in regard to matters or
questions arising under this Indenture as shall not adversely affect the interests of any
Holders of Debt Securities of any series;

     (d) to modify or amend this Indenture in such a manner as to permit the qualification
of this Indenture or any Indenture supplemental hereto under the Trust Indenture Act as then
in effect, except that nothing herein contained shall permit or authorize the inclusion in
any Indenture supplemental hereto of the provisions referred to in Section 316(a)(2) of the
Trust Indenture Act;

     (e) to add to or change any of the provisions of this Indenture to change or eliminate
any restrictions on the payment of principal of, or premium, if any, or interest on,
Registered Securities; provided, that any such action shall not adversely affect the
interests of the Holders of Debt Securities of any series in any material respect or permit
or facilitate the issuance of Debt Securities of any series in uncertificated form;

     (f) to comply with Article X;

     (g) in the case of any Debt Securities, if any, subordinated pursuant to Article XII,
to make any change in Article XII that would limit or terminate the benefits applicable to
any holder of Senior Indebtedness (or Representatives therefor) under Article XII;

     (h) to add Guarantees with respect to the Debt Securities or to secure the Debt
Securities;

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     (i) to add to, change or eliminate any of the provisions of this Indenture in respect
of one or more series of Debt Securities; provided, however, that any such
addition, change or elimination not otherwise permitted under this Section 9.01 shall (i)
neither (A) apply to any Debt Security of any series created prior to the execution of such
supplemental Indenture and entitled to the benefit of such provision nor (B) modify the
rights of the Holder of any such Debt Security with respect to such provision or (ii) shall
become effective only when there is no such Debt Security outstanding;

     (j) to evidence and provide for the acceptance of appointment hereunder by a successor
or separate Trustee with respect to the Debt Securities of one or more series and to add to
or change any of the provisions of this Indenture as shall be necessary to provide for or
facilitate the administration of the trusts hereunder by more than one Trustee; and

     (k) to establish the form or terms of Debt Securities of any series as permitted by
Sections 2.01 and 2.03.

          The Trustee is hereby authorized to join with the Company in the execution of any such
supplemental Indenture, to make any further appropriate agreements and stipulations which may be
therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any
property thereunder, but the Trustee shall not be obligated to enter into any such supplemental
Indenture which adversely affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise.

          Any supplemental Indenture authorized by the provisions of this Section 9.01 may be executed
by the Company and the Trustee without the consent of the Holders of any of the Debt Securities at
the time outstanding, notwithstanding any of the provisions of Section 9.02.

          In the case of any Debt Securities subordinated pursuant to Article XII, an amendment under
this Section 9.01 may not make any change that adversely affects the rights under Article XII of
any holder of such Senior Indebtedness then Outstanding unless the holders of such Senior
Indebtedness (or any group or Representative thereof authorized to give a consent) consent to such
change.

          After an amendment under this Section 9.01 becomes effective, the Company shall mail to
Holders of Debt Securities of each series affected thereby a notice briefly describing such
amendment. The failure to give such notice to all such Holders, or any defect therein, shall not
impair or affect the validity of an amendment under this Section 9.01.

          SECTION 9.02. Modification of Indenture with Consent of Holders of Debt Securities.
Without notice to any Holder but with the consent (evidenced as provided in Section 8.01) of the
Holders of not less than a majority in aggregate principal amount of the outstanding Debt
Securities of each series affected by such supplemental Indenture, the Company, when authorized by
a resolution of the Board of Directors, and the Trustee may from time to time and at any time enter
into an Indenture or Indentures supplemental hereto (which shall conform to the provisions of the
Trust Indenture Act as in force at the date of execution thereof) for the purpose of adding any
provisions to or changing in any manner or eliminating

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any of the provisions of this Indenture or of any supplemental Indenture or of modifying in
any manner the rights of the Holders of the Debt Securities of such series; provided, that no such
supplemental Indenture, without the consent of the Holders of each Debt Security so affected, shall
(i) reduce the percentage in principal amount of Debt Securities of any series whose Holders must
consent to an amendment; (ii) reduce the rate of or extend the time for payment of interest on any
Debt Security; (iii) reduce the principal of or extend the Stated Maturity of any Debt Security;
(iv) reduce the premium payable upon the redemption of any Debt Security or change the time at
which any Debt Security may or shall be redeemed in accordance with Article III; (v) make any Debt
Security payable in Currency other than that stated in the Debt Security; (vi) in the case of any
Debt Security subordinated pursuant to Article XII, make any change in Article XII that adversely
affects the rights of any Holder under Article XII; (vii) release any security that may have been
granted in respect of the Debt Securities; or (viii) make any change in Section 6.06 or this
Section 9.02.

          A supplemental Indenture which changes or eliminates any covenant or other provision of this
Indenture which has been expressly included solely for the benefit of one or more particular series
of Debt Securities or which modifies the rights of the Holders of Debt Securities of such series
with respect to such covenant or other provision, shall be deemed not to affect the rights under
this Indenture of the Holders of Debt Securities of any other series.

          Upon the request of the Company, accompanied by a copy of a resolution of the Board of
Directors authorizing the execution of any such supplemental Indenture, and upon the filing with
the Trustee of evidence of the consent of Holders as aforesaid, the Trustee shall join with the
Company in the execution of such supplemental Indenture unless such supplemental Indenture
adversely affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise,
in which case the Trustee may in its discretion but shall not be obligated to enter into such
supplemental Indenture.

          It shall not be necessary for the consent of the Holders under this Section 9.02 to approve
the particular form of any proposed supplemental Indenture, but it shall be sufficient if such
consent shall approve the substance thereof.

          In the case of any Debt Securities subordinated pursuant to Article XII, an amendment under
this Section 9.02 may not make any change that adversely affects the rights under Article XII of
any holder of such Senior Indebtedness then Outstanding unless the holders of such Senior
Indebtedness (or any group or Representative thereof authorized to give a consent) consent to such
change.

          After an amendment under this Section 9.02 becomes effective, the Company shall mail to
Holders of Debt Securities of each series affected thereby a notice briefly describing such
amendment. The failure to give such notice to all such Holders, or any defect therein, shall not
impair or affect the validity of an amendment under this Section 9.02.

          SECTION 9.03. Effect of Supplemental Indentures. Upon the execution of any
supplemental Indenture pursuant to the provisions of this Article IX, this Indenture shall be and
be deemed to be modified and amended in accordance therewith and the respective rights, limitations
of rights, obligations, duties and immunities under this Indenture of the Trustee, the

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Company and the Holders shall thereafter be determined, exercised and enforced hereunder
subject in all respects to such modifications and amendments, and all the terms and conditions of
any such supplemental Indenture shall be and be deemed to be part of the terms and conditions of
this Indenture for any and all purposes.

          The Trustee, subject to the provisions of Sections 7.01 and 7.02, may receive an Officers’
Certificate and an Opinion of Counsel as conclusive evidence that any such supplemental Indenture
complies with the provisions of this Article IX.

          SECTION 9.04. Debt Securities May Bear Notation of Changes by Supplemental
Indentures. Debt Securities of any series authenticated and delivered after the execution of
any supplemental Indenture pursuant to the provisions of this Article IX may, and shall if required
by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in
such supplemental Indenture. New Debt Securities of any series so modified as to conform, in the
opinion of the Trustee and the Board of Directors, to any modification of this Indenture contained
in any such supplemental Indenture may be prepared and executed by the Company, authenticated by
the Trustee and delivered in exchange for the Debt Securities of such series then outstanding.
Failure to make the appropriate notation or to issue a new Debt Security of such series shall not
affect the validity of such amendment.

ARTICLE X

Consolidation, Merger, Sale or Conveyance

          SECTION 10.01. Consolidations and Mergers of the Company. The Company shall not
consolidate with or merge with or into any Person, or convey, transfer or lease all or
substantially all its assets, unless: (i) either (a) the Company shall be the continuing Person in
the case of a merger or (b) the resulting, surviving or transferee Person if other than the Company
(the “Successor Company”) shall be a corporation organized and existing under the laws of the
United States, any State thereof or the District of Columbia and the Successor Company shall
expressly assume, by an Indenture supplemental hereto, executed and delivered to the Trustee, in
form satisfactory to the Trustee, all the obligations of the Company under the Debt Securities
according to their tenor, and this Indenture; (ii) immediately after giving effect to such
transaction (and treating any Indebtedness which becomes an obligation of the Successor Company or
any Subsidiary of the Company as a result of such transaction as having been Incurred by the
Successor Company or such Subsidiary at the time of such transaction), no Default or Event of
Default would occur or be continuing; and (iii) the Company shall have delivered to the Trustee an
Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger or
transfer and such supplemental Indenture (if any) comply with this Indenture.

          SECTION 10.02. Rights and Duties of Successor Corporation. In case of any
consolidation or merger, or conveyance or transfer of the assets of the Company as an entirety or
virtually as an entirety in accordance with Section 10.01, the Successor Company shall succeed to
and be substituted for the Company, with the same effect as if it had been named herein as the
party of the first part, and the predecessor corporation shall be relieved of any further
obligation

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under the Indenture and the Debt Securities. The Successor Company thereupon may cause to be
signed, and may issue either in its own name or in the name of the Company, any or all the Debt
Securities issuable hereunder which theretofore shall not have been signed by the Company and
delivered to the Trustee; and, upon the order of the Successor Company, instead of the Company, and
subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee
shall authenticate and shall deliver any Debt Securities which previously shall have been signed
and delivered by the officers of the Company to the Trustee for authentication, and any Debt
Securities which the Successor Company thereafter shall cause to be signed and delivered to the
Trustee for that purpose. All the Debt Securities so issued shall in all respects have the same
legal rank and benefit under this Indenture as the Debt Securities theretofore or thereafter issued
in accordance with the terms of this Indenture as though all such Debt Securities had been issued
at the date of the execution hereof.

          In case of any such consolidation, merger, sale or conveyance such changes in phraseology and
form (but not in substance) may be made in the Debt Securities appertaining thereto thereafter to
be issued as may be appropriate.

ARTICLE XI

Satisfaction and Discharge of Indenture;

Defeasance; Unclaimed Moneys

          SECTION 11.01. Applicability of Article. If, pursuant to Section 2.03, provision is
made for the defeasance of Debt Securities of a series, then the provisions of this Article XI
relating to defeasance of Debt Securities shall be applicable except as otherwise specified
pursuant to Section 2.03 for Debt Securities of such series.

          SECTION 11.02. Satisfaction and Discharge of Indenture: Defeasance.

          (a) If at any time (i) the Company shall have delivered to the Trustee for cancellation all
Debt Securities of any series theretofore authenticated and delivered (other than (1) any Debt
Securities of such series which shall have been destroyed, lost or stolen and which shall have been
replaced or paid as provided in Section 2.09 and (2) Debt Securities for whose payment money has
theretofore been deposited in trust and thereafter repaid to the Company as provided in Section
11.05) or (ii) all Debt Securities of such series not theretofore delivered to the Trustee for
cancellation shall have become due and payable, or are by their terms to become due and payable
within one year or are to be called for redemption within one year under arrangements satisfactory
to the Trustee for the giving of notice of redemption, and the Company shall deposit with the
Trustee as trust funds the entire amount in the Currency in which such Debt Securities are
denominated (except as otherwise provided pursuant to Section 2.03) sufficient to pay at maturity
or upon redemption all Debt Securities of such series not theretofore delivered to the Trustee for
cancellation, including principal and premium, if any, and interest due or to become due on such
date of maturity or redemption date, as the case may be, and if in either case the Company shall
also pay or cause to be paid all other sums payable hereunder by the Company, then this Indenture
shall cease to be of further effect (except as to any surviving rights of registration of transfer
or exchange of such Debt Securities herein expressly provided

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for and rights to receive payments of principal of, and premium, if any, and interest on, such
Debt Securities) with respect to the Debt Securities of such series, and the Trustee, on demand of
the Company accompanied by an Officers’ Certificate and an opinion of counsel and at the cost and
expense of the Company, shall execute proper instruments acknowledging satisfaction of and
discharging this Indenture.

          (b) Subject to Sections 11.02(c), 11.03 and 11.07, the Company at any time may terminate,
with respect to Debt Securities of a particular series, (i) all its obligations under the Debt
Securities of such series and this Indenture with respect to the Debt Securities of such series
(“legal defeasance option”) or (ii) its obligations with respect to the Debt Securities of such
series under clause (ii) of Section 10.01 and the related operation of Section 6.01(d) and the
operation of Sections 6.01(e), (f) and (i) (“covenant defeasance option”). The Company may
exercise its legal defeasance option notwithstanding its prior exercise of its covenant defeasance
option.

          If the Company exercises its legal defeasance option, payment of the Debt Securities of the
defeased series may not be accelerated because of an Event of Default. If the Company exercises
its covenant defeasance option, payment of the Debt Securities of the defeased series may not be
accelerated because of an Event of Default specified in Sections 6.01(d), (e), (f) and (i) (except
to the extent covenants or agreements referenced in such Sections remain applicable).

          Upon satisfaction of the conditions set forth herein and upon request of the Company, the
Trustee shall acknowledge in writing the discharge of those obligations that the Company
terminates.

          (c) Notwithstanding clauses (a) and (b) above, the Company’s obligations in Sections 2.07,
2.09, 4.02, 4.04, 5.01, 7.06, 7.10, 11.05, 11.06 and 11.07 shall survive until the Debt Securities
of the defeased series have been paid in full. Thereafter, the Company’s obligations in Sections
7.06, 11.05 and 11.06 shall survive.

          SECTION 11.03. Conditions of Defeasance. The Company may exercise its legal
defeasance option or its covenant defeasance option with respect to Debt Securities of a particular
series only if:

     (a) the Company irrevocably deposits in trust with the Trustee money or U.S. Government
Obligations for the payment of principal of, and premium, if any, and interest on, the Debt
Securities of such series to maturity or redemption, as the case may be;

     (b) the Company delivers to the Trustee a certificate from a nationally recognized firm
of independent accountants expressing their opinion that the payments of principal and
interest when due and without reinvestment on the deposited U.S. Government Obligations plus
any deposited money without investment will provide cash at such times and in such amounts
as will be sufficient to pay the principal, premium and interest when due on all the Debt
Securities of such series to maturity or redemption, as the case may be;

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     (c) 91 days pass after the deposit is made and during the 91-day period no Default
specified in Section 6.01(g) or (h) with respect to the Company occurs which is continuing
at the end of the period;

     (d) no Default has occurred and is continuing on the date of such deposit and after
giving effect thereto;

     (e) the deposit does not constitute a default under any other agreement binding on the
Company and, if the Debt Securities of such series are subordinated pursuant to Article XII,
is not prohibited by Article XII;

     (f) the Company delivers to the Trustee an Opinion of Counsel to the effect that the
trust resulting from the deposit does not constitute, or is qualified as, a regulated
investment company under the Investment Company Act of 1940;

     (g) in the event of the legal defeasance option, the Company shall have delivered to
the Trustee an Opinion of Counsel stating that (i) the Company has received from the
Internal Revenue Service a ruling, or (ii) since the date of this Indenture there has been a
change in the applicable Federal income tax law, in either case of the effect that, and
based thereon such Opinion of Counsel shall confirm that, the Holders of Debt Securities of
such series will not recognize income, gain or loss for Federal income tax purposes as a
result of such defeasance and will be subject to Federal income tax on the same amounts, in
the same manner and at the same times as would have been the case if such defeasance had not
occurred;

     (h) in the event of the covenant defeasance option, the Company shall have delivered to
the Trustee an Opinion of Counsel to the effect that the Holders of Debt Securities of such
series will not recognize income, gain or loss for Federal income tax purposes as a result
of such covenant defeasance and will be subject to Federal income tax on the same amounts,
in the same manner and at the same times as would have been the case if such covenant
defeasance had not occurred; and

     (i) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent to the defeasance and discharge of the
Debt Securities of such series as contemplated by this Article XI have been complied with.

          Before or after a deposit, the Company may make arrangements satisfactory to the Trustee for
the redemption of Debt Securities of such series at a future date in accordance with Article III.

          SECTION 11.04. Application of Trust Money. The Trustee shall hold in trust money or
U.S. Government Obligations deposited with it pursuant to this Article XI. It shall apply the
deposited money and the money from U.S. Government Obligations through any paying agent and in
accordance with this Indenture to the payment of principal of, and premium, if any, and interest
on, the Debt Securities of the defeased series. In the event the Debt Securities

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of the defeased series are subordinated pursuant to Article XII, money and securities so held
in trust are not subject to Article XII.

          SECTION 11.05. Repayment to Company. The Trustee and any paying agent shall promptly
turn over to the Company upon request any excess money or securities held by them at any time.

          Subject to any applicable abandoned property law, the Trustee and any paying agent shall pay
to the Company upon request any money held by them for the payment of principal, premium or
interest that remains unclaimed for two years, and, thereafter, Holders entitled to such money must
look to the Company for payment as general creditors.

          SECTION 11.06. Indemnity for U.S. Government Obligations. The Company shall pay and
shall indemnify the Trustee and the Holders against any tax, fee or other charge imposed on or
assessed against deposited U.S. Government Obligations or the principal and interest received on
such U.S. Government Obligations.

          SECTION 11.07. Reinstatement. If the Trustee or any paying agent is unable to apply
any money or U.S. Government Obligations in accordance with this Article XI by reason of any legal
proceeding or by reason of any order or judgment of any court or government authority enjoining,
restraining or otherwise prohibiting such application, the Company’s obligations under this
Indenture and the Debt Securities of the defeased series shall be revived and reinstated as though
no deposit had occurred pursuant to this Article XI until such time as the Trustee or any paying
agent is permitted to apply all such money or U.S. Government Obligations in accordance with this
Article XI.

ARTICLE XII

Subordination of Debt Securities

          SECTION 12.01. Applicability of Article; Agreement To Subordinate. The provisions of
this Article XII shall be applicable to the Debt Securities of any series (Debt Securities of such
series referred to in this Article XII as “Subordinated Debt Securities”) designated, pursuant to
Section 2.03, as subordinated to Senior Indebtedness. Each Holder by accepting a Subordinated Debt
Security agrees that the Indebtedness evidenced by such Subordinated Debt Security is subordinated
in right of payment, to the extent and in the manner provided in this Article XII, to the prior
payment of all Senior Indebtedness and that the subordination is for the benefit of and enforceable
by the holders of Senior Indebtedness. All provisions of this Article XII shall be subject to
Section 12.12.

          SECTION 12.02. Liquidation, Dissolution, Bankruptcy. Upon any payment or
distribution of the assets of the Company to creditors upon a total or partial liquidation or a
total or partial dissolution of the Company or in a bankruptcy, reorganization, insolvency,
receivership or similar proceeding relating to the Company or its property:

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     (a) holders of Senior Indebtedness shall be entitled to receive payment in full in cash
of the Senior Indebtedness (including interest (if any), accruing on or after the
commencement of a proceeding in bankruptcy, whether or not allowed as a claim against the
Company in such bankruptcy proceeding) before Holders of Subordinated Debt Securities shall
be entitled to receive any payment of principal of, or premium, if any, or interest on, the
Subordinated Debt Securities; and

     (b) until the Senior Indebtedness is paid in full, any distribution to which Holders of
Subordinated Debt Securities would be entitled but for this Article XII shall be made to
holders of Senior Indebtedness as their interests may appear, except that such Holders may
receive shares of stock and any debt securities that are subordinated to Senior Indebtedness
to at least the same extent as the Subordinated Debt Securities.

          SECTION 12.03. Default on Senior Indebtedness. The Company may not pay the principal
of, or premium, if any, or interest on, the Subordinated Debt Securities or make any deposit
pursuant to Article XI and may not repurchase, redeem or otherwise retire (except, in the case of
Subordinated Debt Securities that provide for a mandatory sinking fund pursuant to Section 3.04, by
the delivery of Subordinated Debt Securities by the Company to the Trustee pursuant to the first
paragraph of Section 3.05) any Debt Securities (collectively, “pay the Subordinated Debt
Securities”) if (i) any principal, premium or interest in respect of Senior Indebtedness is not
paid within any applicable grace period (including at maturity) or (ii) any other default on Senior
Indebtedness occurs and the maturity of such Senior Indebtedness is accelerated in accordance with
its terms unless, in either case, (x) the default has been cured or waived and any such
acceleration has been rescinded or (y) such Senior Indebtedness has been paid in full in cash;
provided, however, that the Company may pay the Subordinated Debt Securities
without regard to the foregoing if the Company and the Trustee receive written notice approving
such payment from the Representative of each issue of Designated Senior Indebtedness. During the
continuance of any default (other than a default described in clause (i) or (ii) of the preceding
sentence) with respect to any Senior Indebtedness pursuant to which the maturity thereof may be
accelerated immediately without further notice (except such notice as may be required to effect
such acceleration) or the expiration of any applicable grace periods, the Company may not pay the
Subordinated Debt Securities for a period (a “Payment Blockage Period”) commencing upon the receipt
by the Company and the Trustee of written notice of such default from the Representative of any
Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period (a
“Blockage Notice”) and ending 179 days thereafter (or earlier if such Payment Blockage Period is
terminated (i) by written notice to the Trustee and the Company from the Person or Persons who gave
such Blockage Notice, (ii) by repayment in full in cash of such Designated Senior Indebtedness or
(iii) because the default giving rise to such Blockage Notice is no longer continuing).
Notwithstanding the provisions described in the immediately preceding sentence (but subject to the
provisions contained in the first sentence of this Section 12.03), unless the holders of such
Designated Senior Indebtedness or the Representative of such holders shall have accelerated the
maturity of such Designated Senior Indebtedness, the Company may resume payments on the
Subordinated Debt Securities after such Payment Blockage Period. Not more than one Blockage Notice
may be given in any consecutive 360-day period, irrespective of the number of defaults with respect
to any number of issues of Senior Indebtedness during such period; provided,
however, that if any Blockage Notice within such 360-day period is given by or on behalf of
any holders of Designated Senior

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Indebtedness (other than the Bank Indebtedness), the Representative of the Bank Indebtedness
may give another Blockage Notice within such period; provided further, however,
that in no event may the total number of days during which any Payment Blockage Period or Periods
is in effect exceed 179 days in the aggregate during any 360 consecutive day period. For purposes
of this Section 12.03, no default or event of default which existed or was continuing on the date
of the commencement of any Payment Blockage Period with respect to the Senior Indebtedness
initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a
subsequent Payment Blockage Period by the Representative of such Senior Indebtedness, whether or
not within a period of 360 consecutive days, unless such default or event of default shall have
been cured or waived for a period of not less than 90 consecutive days.

          SECTION 12.04. Acceleration of Payment of Debt Securities. If payment of the
Subordinated Debt Securities is accelerated because of an Event of Default, the Company or the
Trustee shall promptly notify the holders of the Designated Senior Indebtedness (or their
Representatives) of the acceleration.

          SECTION 12.05. When Distribution Must Be Paid Over. If a distribution is made to
Holders of Subordinated Debt Securities that because of this Article XII should not have been made
to them, the Holders who receive such distribution shall hold it in trust for holders of Senior
Indebtedness and pay it over to them as their interests may appear.

          SECTION 12.06. Subrogation. After all Senior Indebtedness is paid in full and until
the Subordinated Debt Securities are paid in full, Holders thereof shall be subrogated to the
rights of holders of Senior Indebtedness to receive distributions applicable to Senior
Indebtedness. A distribution made under this Article XII to holders of Senior Indebtedness which
otherwise would have been made to Holders of Subordinated Debt Securities is not, as between the
Company and such Holders, a payment by the Company on Senior Indebtedness.

          SECTION 12.07. Relative Rights. This Article XII defines the relative rights of
Holders of Subordinated Debt Securities and holders of Senior Indebtedness. Nothing in this
Indenture shall:

     (a) impair, as between the Company and Holders of either Subordinated Debt Securities
or Debt Securities, the obligation of the Company, which is absolute and unconditional, to
pay principal of, and premium, if any, and interest on, the Subordinated Debt Securities and
the Debt Securities in accordance with their terms; or

     (b) prevent the Trustee or any Holder of either Subordinated Debt Securities or Debt
Securities from exercising its available remedies upon a Default, subject to the rights of
holders of Senior Indebtedness to receive distributions otherwise payable to Holders of
Subordinated Debt Securities.

          SECTION 12.08. Subordination May Not Be Impaired by Company. No right of any holder
of Senior Indebtedness to enforce the subordination of the Indebtedness evidenced by the
Subordinated Debt Securities shall be impaired by any act or failure to act by the Company or by
its failure to comply with this Indenture.

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          SECTION 12.09. Rights of Trustee and Paying Agent. Notwithstanding Section 12.03,
the Trustee or any paying agent may continue to make payments on Subordinated Debt Securities and
shall not be charged with knowledge of the existence of facts that would prohibit the making of any
such payments unless, not less than two business days prior to the date of such payment, a
responsible officer of the Trustee receives notice satisfactory to it that payments may not be made
under this Article XII. The Company, the Registrar, any paying agent, a Representative or a holder
of Senior Indebtedness may give the notice; provided, however, that, if an issue of
Senior Indebtedness has a Representative, only the Representative may give the notice.

          The Trustee in its individual or any other capacity may hold Senior Indebtedness with the same
rights it would have if it were not Trustee. The Registrar and any paying agent may do the same
with like rights. The Trustee shall be entitled to all the rights set forth in this Article XII
with respect to any Senior Indebtedness which may at any time be held by it, to the same extent as
any other holder of Senior Indebtedness; and nothing in Article VII shall deprive the Trustee of
any of its rights as such holder. Nothing in this Article XII shall apply to claims of, or
payments to, the Trustee under or pursuant to Section 7.06.

          SECTION 12.10. Distribution or Notice to Representative. Whenever a distribution is
to be made or a notice given to holders of Senior Indebtedness, the distribution may be made and
the notice given to their Representative (if any).

          SECTION 12.11. Article XII Not to Prevent Defaults or Limit Right to Accelerate. The
failure to make a payment pursuant to the Debt Securities by reason of any provision in this
Article XII shall not be construed as preventing the occurrence of a Default. Nothing in this
Article XII shall have any effect on the right of the Holders or the Trustee to accelerate the
maturity of either the Subordinated Debt Securities or the Debt Securities, as the case may be.

          SECTION 12.12. Trust Moneys Not Subordinated. Notwithstanding anything contained
herein to the contrary, payments from money or the proceeds of U.S. Government Obligations held in
trust under Article XI by the Trustee for the payment of principal of, and premium, if any, and
interest on, the Subordinated Debt Securities or the Debt Securities shall not be subordinated to
the prior payment of any Senior Indebtedness or subject to the restrictions set forth in this
Article XII, and none of the Holders thereof shall be obligated to pay over any such amount to the
Company or any holder of Senior Indebtedness of the Company or any other creditor of the Company.

          SECTION 12.13. Trustee Entitled to Rely. Upon any payment or distribution pursuant
to this Article XII, the Trustee and the Holders shall be entitled to rely (i) upon any order or
decree of a court of competent jurisdiction in which any proceedings of the nature referred to in
Section 12.02 are pending, (ii) upon a certificate of the liquidating trustee or agent or other
Person making such payment or distribution to the Trustee or to such Holders or (iii) upon the
Representatives for the holders of Senior Indebtedness for the purpose of ascertaining the Persons
entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and
other Indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts
paid or distributed thereon and all other facts pertinent thereto or

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to this Article XII. In the event that the Trustee determines, in good faith, that evidence
is required with respect to the right of any Person as a holder of Senior Indebtedness to
participate in any payment or distribution pursuant to this Article XII, the Trustee may request
such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of
Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate
in such payment or distribution and other facts pertinent to the rights of such Person under this
Article XII, and, if such evidence is not furnished, the Trustee may defer any payment to such
Person pending judicial determination as to the right of such Person to receive such payment. The
provisions of Sections 7.01 and 7.02 shall be applicable to all actions or omissions of actions by
the Trustee pursuant to this Article XII.

          SECTION 12.14. Trustee to Effectuate Subordination. Each Holder by accepting a
Subordinated Debt Security authorizes and directs the Trustee on his behalf to take such action as
may be necessary or appropriate to acknowledge or effectuate the subordination between the Holders
of Subordinated Debt Securities and the holders of Senior Indebtedness as provided in this Article
XII and appoints the Trustee as attorney-in-fact for any and all such purposes.

          SECTION 12.15. Trustee Not Fiduciary for Holders of Senior Indebtedness. The Trustee
shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and shall not
be liable to any such holders if it shall mistakenly pay over or distribute to Holders of
Subordinated Debt Securities or the Company or any other Person, money or assets to which any
holders of Senior Indebtedness shall be entitled by virtue of this Article XII or otherwise.

          SECTION 12.16. Reliance by Holders of Senior Indebtedness on Subordination
Provisions. Each Holder by accepting a Subordinated Debt Security acknowledges and agrees that
the foregoing subordination provisions are, and are intended to be, an inducement and a
consideration to each holder of any Senior Indebtedness, whether such Senior Indebtedness was
created or acquired before or after the issuance of the Subordinated Debt Securities, to acquire
and continue to hold, or to continue to hold, such Senior Indebtedness and such holder of Senior
Indebtedness shall be deemed conclusively to have relied on such subordination provisions in
acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness.

ARTICLE XIII

Miscellaneous Provisions

          SECTION 13.01. Successors and Assigns of Company Bound by Indenture. All the
covenants, stipulations, promises and agreements in this Indenture contained by or in behalf of the
Company or the Trustee shall bind its successors and assigns, whether so expressed or not.

          SECTION 13.02. Acts of Board, Committee or Officer of Successor Company Valid. Any
act or proceeding by any provision of this Indenture authorized or required to be done or performed
by any board, committee or officer of the Company shall and may be done and performed with like
force and effect by the like board, committee or officer of any Successor Company.

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          SECTION 13.03. Required Notices or Demands. Except as otherwise expressly provided
in this Indenture, any notice or demand which by any provision of this Indenture is required or
permitted to be given or served by the Trustee or by the Holders to or on the Company may be given
or served by being deposited postage prepaid in a post office letter box in the United States
addressed (until another address is filed by the Company with the Trustee) as follows: Swift
Energy Company, Suite 400, 16825 Northchase Drive, Houston, Texas 77060, Attn: Chief Financial
Officer. Except as otherwise expressly provided in this Indenture, any notice, direction, request
or demand by the Company or by any Holder to or upon the Trustee may be given or made, for all
purposes, by being deposited, postage prepaid, in a post office letter box in the United States
addressed to the corporate trust office of the Trustee initially at 505 Main Street, Suite 301,
Fort Worth, Texas 76102. The Company or the Trustee by notice to the other may designate
additional or different addresses for subsequent notices or communications.

          Any notice required or permitted to a Registered Holder by the Company or the Trustee pursuant
to the provisions of this Indenture shall be deemed to be properly mailed by being deposited
postage prepaid in a post office letter box in the United States addressed to such Holder at the
address of such Holder as shown on the Debt Security Register. Any report pursuant to Section 313
of the Trust Indenture Act shall be transmitted in compliance with subsection (c) therein.

          In the event of suspension of regular mail service or by reason of any other cause it shall be
impracticable to give notice by mail, then such notification as shall be given with the approval of
the Trustee shall constitute sufficient notice for every purpose thereunder.

          In the event of suspension of publication of any Authorized Newspaper or by reason of any
other cause it shall be impracticable to give notice by publication, then such notification as
shall be given with the approval of the Trustee shall constitute sufficient notice for every
purpose hereunder.

          Failure to mail a notice or communication to a Holder or any defect in it or any defect in any
notice by publication as to a Holder shall not affect the sufficiency of such notice with respect
to other Holders. If a notice or communication is mailed or published in the manner provided
above, it is conclusively presumed duly given.

          SECTION 13.04. Indenture and Debt Securities to Be Construed in Accordance with the Laws
of the State of New York. This Indenture shall be governed by, and construed in accordance
with the laws of the State of New York without giving effect to
conflicts of laws provisions thereof to the extent that the
application of the law of another jurisdiction would be required
thereby.

          SECTION 13.05. Officers’ Certificate and Opinion of Counsel to Be Furnished upon
Application or Demand by the Company. Upon any application or demand by the Company to the
Trustee to take any action under any of the provisions of this Indenture, the Company shall furnish
to the Trustee an Officers’ Certificate stating that all conditions precedent provided for in this
Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating
that, in the opinion of such counsel, all such conditions precedent have been complied with, except
that in the case of any such application or demand as to which the furnishing of such document is
specifically required by any provision of this Indenture

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relating to such particular application or demand, no additional certificate or opinion need
be furnished.

          Each certificate or opinion provided for in this Indenture and delivered to the Trustee with
respect to compliance with a condition or covenant provided for in this Indenture shall include (1)
a statement that the Person making such certificate or opinion has read such covenant or condition,
(2) a brief statement as to the nature and scope of the examination or investigation upon which the
statements or opinions contained in such certificate or opinion are based, (3) a statement that, in
the opinion of such Person, he has made such examination or investigation as is necessary to enable
him to express an informed opinion as to whether or not such covenant or condition has been
complied with and (4) a statement as to whether or not, in the opinion of such Person, such
condition or covenant has been complied with.

          SECTION 13.06. Payments Due on Legal Holidays. In any case where the date of
maturity of interest on or principal of and premium, if any, on the Debt Securities of a series or
the date fixed for redemption or repayment of any Debt Security or the making of any sinking fund
payment shall not be a business day at any Place of Payment for the Debt Securities of such series,
then payment of interest or principal and premium, if any, or the making of such sinking fund
payment need not be made on such date at such Place of Payment, but may be made on the next
succeeding business day at such Place of Payment with the same force and effect as if made on the
date of maturity or the date fixed for redemption, and no interest shall accrue for the period
after such date. If a record date is not a business day, the record date shall not be affected.

          SECTION 13.07. Provisions Required by Trust Indenture Act to Control. If and to the
extent that any provision of this Indenture limits, qualifies or conflicts with another provision
included in this Indenture which is required to be included in this Indenture by any of Sections
310 to 318, inclusive, of the Trust Indenture Act, such required provision shall control.

          SECTION 13.08. Computation of Interest on Debt Securities. Interest, if any, on the
Debt Securities shall be computed on the basis of a 360-day year of twelve 30-day months, except as
may otherwise be provided pursuant to Section 2.03.

          SECTION 13.09. Rules by Trustee, Paying Agent and Registrar. The Trustee may
make reasonable rules for action by or a meeting of Holders. The Registrar and any paying agent
may make reasonable rules for their functions.

          SECTION 13.10. No Recourse Against Others. An incorporator or any past, present or
future director, officer, employee or stockholder, as such, of the Company shall not have any
liability for any obligations of the Company under the Debt Securities or this Indenture or for any
claim based on, in respect of or by reason of such obligations or their creation. By accepting a
Debt Security, each Holder shall waive and release all such liability. The waiver and release
shall be part of the consideration for the issue of the Debt Securities.

          SECTION 13.11. Severability. In case any provision in this Indenture, the Debt
Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby.

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          SECTION 13.12. Effect of Headings. The article and section headings herein and in
the Table of Contents are for convenience only and shall not affect the construction hereof.

          SECTION 13.13. Indenture May Be Executed in Counterparts. This Indenture may be
executed in any number of counterparts, each of which shall be an original; but such counterparts
shall together constitute but one and the same instrument.

          The Trustee hereby accepts the trusts in this Indenture upon the terms and conditions herein
set forth.

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

	 	 	 	 	 	 	 
	 	 	Swift Energy Company	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 /s/ Alton D. Heckaman, Jr.	 	 
	 

	 	Name:
	 	 Alton D. Heckaman, Jr.

	 	 
	 

	 	Title:	 	 Executive Vice President
& Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	Wells Fargo Bank, National Association	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 /s/ Patrick Giordano	 	 
	 

	 	Name:	 	 
Patrick Giordano
	 	 
	 

	 	Title:	 	V.P. – Relationship Manager 	 	 

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