Document:

Exhibit 4.1 to St. Jude Medical, Inc. Form 8-K dated April 19, 2007

Exhibit 4.1 

ST. JUDE MEDICAL, INC.

1.22% Convertible Senior Debentures Due 2008

INDENTURE

Dated as of April 25, 2007

U.S. BANK NATIONAL ASSOCIATION

TRUSTEE

Cross-Reference Table1

	
 

	
 

	
 

	
 

	
 

	
Trust Indenture Act Section

	
Indenture
  Section

	
 

	
 

	
 

	
 

	
 

	
 

	
310 

	
(a)(1)

	
 

	
7.10

	
 

	
 

	
(a)(2)

	
 

	
7.10

	
 

	
 

	
(a)(3)

	
 

	
N.A.

	
 

	
 

	
(a)(4)

	
 

	
N.A.

	
 

	
 

	
(a)(5)

	
 

	
N.A.

	
 

	
 

	
(b)

	
 

	
7.08, 7.10

	
 

	
 

	
(c)

	
 

	
N.A.

	
 

	
311

	
(a)

	
 

	
7.11

	
 

	
 

	
(b)

	
 

	
7.11

	
 

	
 

	
(c)

	
 

	
N.A.

	
 

	
312

	
(a)

	
 

	
2.05

	
 

	
 

	
(b)

	
 

	
11.03

	
 

	
 

	
(c)

	
 

	
11.03

	
 

	
313

	
(a)

	
 

	
7.06

	
 

	
 

	
(b)(1)

	
 

	
7.06

	
 

	
 

	
(b)(2)

	
 

	
7.06

	
 

	
 

	
(c)

	
 

	
7.06,11.02

	
 

	
 

	
(d)

	
 

	
7.06

	
 

	
314

	
(a)

	
 

	
4.02

	
 

	
 

	
(b)

	
 

	
N.A.

	
 

	
 

	
(c)(1)

	
 

	
11.04

	
 

	
 

	
(c)(2)

	
 

	
11.04

	
 

	
 

	
(c)(3)

	
 

	
N.A.

	
 

	
 

	
(d)

	
 

	
N.A.

	
 

	
 

	
(e)

	
 

	
11.05

	
 

	
 

	
(f)

	
 

	
4.04

	
 

	
315

	
(a)

	
 

	
7.01(b)

	
 

	
 

	
(b)

	
 

	
7.05

	
 

	
 

	
(c)

	
 

	
7.01(a)

	
 

	
 

	
(d)

	
 

	
7.01(c)

	
 

	
 

	
(e)

	
 

	
6.11

	
 

	
316

	
(a)(1)(A)

	
 

	
6.05

	
 

	
 

	
(a)(1)(B)

	
 

	
6.04

	
 

	
 

	
(a)(2)

	
 

	
2.08

	
 

	
 

	
(b)

	
 

	
6.07

	
 

	
 

	
(c)

	
 

	
1.05(e)

	
 

	
317

	
(a)(1)

	
 

	
6.08

	
 

	
 

	
(a)(2)

	
 

	
6.09

	
 

	
 

	
(b)

	
 

	
2.04

	
 

	
318

	
(a)

	
 

	
11.01

	
 

	
 

	

	
 

	
N.A.          means
  not applicable.

	
 

	
 

	
 

	

	
 

	
1  

	
    This Cross-Reference Table is not part of the Indenture.

TABLE OF CONTENTS

	
 

	
 

	
 

	
PAGE

	
 

	

	
 

	
 

	
ARTICLE 1

	
 

	
DEFINITIONS AND INCORPORATION BY REFERENCE

	
 

	
 

	
 

	
Section 1.01.  Definitions.

	
1

	
Section 1.02.  Other Definitions.

	
9

	
Section 1.03. Incorporation by Reference of Trust Indenture Act

	
10

	
Section 1.04.  Rules of Construction

	
10

	
Section 1.05.  Acts of Holders.

	
11

	
 

	
 

	
ARTICLE 2

	
 

	
THE SECURITIES

	
 

	
 

	
 

	
Section 2.01.  Form and Dating

	
12

	
Section 2.02.  Execution and Authentication

	
13

	
Section 2.03.  Registrar, Paying Agent, Bid Solicitation
  Agent and Conversion Agent

	
14

	
Section 2.04.  Paying Agent to Hold Money and Securities
  in Trust

	
14

	
Section 2.05.  Securityholder Lists

	
15

	
Section 2.06.  Transfer and Exchange

	
15

	
Section 2.07.  Replacement Securities

	
16

	
Section 2.08.  Outstanding Securities; Determinations of
  Holders’ Action

	
17

	
Section 2.09.  Temporary Securities

	
18

	
Section 2.10.  Cancellation

	
18

	
Section 2.11.  Persons Deemed Owners

	
19

	
Section 2.12.  Global Securities

	
19

	
Section 2.13.  CUSIP Numbers

	
26

	
 

	
 

	
ARTICLE 3

	
 

	
REPURCHASES

	
 

	
 

	
 

	
Section 3.01.  Company’s Right to Redeem

	
26

	
Section 3.02.  Repurchase of Securities at Option of the
  Holder Upon a Fundamental Change

	
26

	
Section 3.03.  Effect of Fundamental Change Repurchase
  Notice.

	
29

	
Section 3.04.  Deposit of Fundamental Change Repurchase
  Price

	
30

	
Section 3.05.  Securities Purchased in Part

	
30

	
Section 3.06. Covenant to Comply with Securities Laws upon Purchase of Securities

	
30

	
Section 3.07.  Repayment to the Company

	
31

i

	
 

	
 

	
ARTICLE 4

	
 

	
COVENANTS

	
 

	
 

	
 

	
Section 4.01.  Payment of Securities

	
31

	
Section 4.02.  SEC and Other Reports

	
31

	
Section 4.03.  Compliance Certificate

	
32

	
Section 4.04.  Further Instruments and Acts

	
32

	
Section 4.05.  Maintenance of Office or Agency

	
32

	
Section 4.06.  Delivery of Certain Information

	
32

	
Section 4.07.  Additional Amounts Notice

	
33

	
 

	
 

	
ARTICLE 5

	
 

	
SUCCESSOR PERSON

	
 

	
 

	
 

	
Section 5.01.  When Company May Merge or Transfer Assets

	
33

	
 

	
 

	
ARTICLE 6

	
 

	
DEFAULTS AND REMEDIES

	
 

	
 

	
 

	
Section 6.01.  Events of Default

	
34

	
Section 6.02.  Acceleration

	
37

	
Section 6.03.  Other Remedies

	
37

	
Section 6.04.  Waiver of Past Defaults

	
38

	
Section 6.05.  Control by Majority

	
38

	
Section 6.06.  Limitation on Suits

	
38

	
Section 6.07.  Rights of Holders to Receive Payment

	
39

	
Section 6.08.  Collection Suit by Trustee

	
39

	
Section 6.09.  Trustee May File Proofs of Claim

	
39

	
Section 6.10.  Priorities

	
40

	
Section 6.11.  Undertaking for Costs

	
40

	
Section 6.12.  Waiver of Stay, Extension or Usury Laws

	
40

	
 

	
 

	
ARTICLE 7

	
 

	
TRUSTEE

	
 

	
 

	
 

	
Section 7.01.  Duties of Trustee

	
41

	
Section 7.02.  Rights of Trustee

	
42

	
Section 7.03.  Individual Rights of Trustee

	
44

	
Section 7.04.  Trustee’s Disclaimer

	
44

	
Section 7.05.  Notice of Defaults

	
44

	
Section 7.06.  Reports by Trustee to Holders

	
45

	
Section
  7.07.  Compensation and Indemnity

	
45

	
Section 7.08.  Replacement of Trustee

	
46

	
Section 7.09.  Successor Trustee by Merger

	
47

	
Section 7.10.  Eligibility; Disqualification

	
47

	
Section 7.11.  Preferential Collection of Claims Against
  Company

	
47

ii

	
 

	
 

	
ARTICLE 8

	
 

	
DISCHARGE OF INDENTURE

	
 

	
 

	
 

	
Section 8.01.  Discharge of Liability on Securities

	
48

	
Section 8.02.  Repayment to the Company

	
48

	
Section 8.03.  Application of Trust Money

	
48

	
 

	
 

	
ARTICLE 9

	
 

	
AMENDMENTS

	
 

	
 

	
 

	
Section 9.01.  Without Consent of Holders

	
48

	
Section 9.02.  With Consent of Holders

	
50

	
Section 9.03.  Compliance With Trust Indenture Act

	
51

	
Section 9.04.  Revocation and Effect of Consents, Waivers
  and Actions

	
51

	
Section 9.05.  Notice of Amendments, Notation on or
  Exchange of Securities

	
51

	
Section 9.06.  Trustee to Sign Supplemental Indentures

	
52

	
Section 9.07.  Effect of Supplemental Indentures

	
52

	
 

	
 

	
ARTICLE 10

	
 

	
CONVERSIONS

	
 

	
 

	
 

	
Section
  10.01.  Conversion Privilege

	
52

	
Section
  10.02.  Conversion Procedure; Conversion Rate;
  Fractional Shares

	
58

	
Section
  10.03.  Payment Upon Conversion

	
60

	
Section
  10.04.  Adjustment of Conversion Rate

	
62

	
Section
  10.05.  Effect of
  Reclassification, Consolidation, Merger or Sale

	
70

	
Section
  10.06.  Taxes on Shares
  Issued

	
72

	
Section
  10.07.  Reservation of
  Shares, Shares to Be Fully Paid; Compliance with Governmental Requirements

	
73

	
Section
  10.08.  Responsibility of
  Trustee

	
73

	
Section
  10.09.  Notice to Holders Prior to Certain
  Actions

	
74

	
Section
  10.10.  Shareholder Rights Plan

	
75

	
Section
  10.11.  Unconditional Right of Holders to Convert

	
75

	
 

	
 

	
ARTICLE 11

	
 

	
MISCELLANEOUS

	
 

	
 

	
 

	
Section
  11.01.  Trust Indenture Act Controls.

	
75

	
Section
  11.02.  Notices

	
75

	
Section
  11.03.  Communication by Holders with Other
  Holders.

	
76

	
Section
  11.04.  Certificate and Opinion as to Conditions
  Precedent

	
77

	
Section
  11.05.  Statements Required in Certificate or
  Opinion

	
77

	
Section
  11.06.  Separability Clause

	
77

	
Section
  11.07.  Rules by Trustee, Paying Agent, Conversion
  Agent and Registrar

	
77

	
Section
  11.08.  Legal Holidays

	
77

	
Section 11.09. Governing Law

	
78

iii

	
 

	
 

	
Section 11.10. No Recourse Against Others

	
78

	
Section 11.11. Successors

	
78

	
Section 11.12. Multiple Originals

	
78

	
 

	
 

	
EXHIBIT A

	
Form of Global Security

	
EXHIBIT B

	
Form of Certificated Security

	
EXHIBIT C

	
Transfer Certificate

	
EXHIBIT D

	
Notice of Occurrence of Fundamental Change

	
 

	
 

	
SCHEDULE I

	
Number of Additional Shares

iv

          INDENTURE dated as of April 25, 2007 between ST. JUDE
MEDICAL, INC., a Minnesota corporation (“Company”), and U.S. BANK NATIONAL ASSOCIATION, a national banking
association (“Trustee”).

          Each party agrees as follows for the benefit of the
other party and for the equal and ratable benefit of the Holders of the Company’s 1.22% Convertible Senior Debentures Due
2008:

ARTICLE 1

DEFINITIONS AND INCORPORATION BY
REFERENCE

          Section
1.01.  Definitions.  

          “144A Global Security” means a
permanent Global Security in the form of the Security attached hereto as Exhibit A, and that is deposited with and registered in
the name of the Depositary, representing Securities sold in reliance on Rule 144A under the Securities Act.

          “Additional Amounts” means the
interest that is payable by the Company pursuant to the Registration Rights Agreement upon a Registration Default (as defined in
such agreement).

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

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

          “Bid
Solicitation Agent” means the agent of the Company appointed to
obtain quotations for the Securities as set forth under the definition of
Trading Price, which shall initially be the Trustee and shall at no time be an
Affiliate of the Company.  The Company
may, from time to time, change the Bid Solicitation Agent.

          “Board of Directors” means either the
board
of directors of the Company or any duly authorized committee of such board.

          “Board Resolution” means a resolution of
the
Board of Directors.

1

          “Business Day” means, with respect to any
Security, any day, other than a Saturday or Sunday, that is neither a legal
holiday nor a day on which commercial banks are authorized or required by law, regulation
or executive order to close in The City of New York.

          “Capital Stock” for any corporation means
any and all shares, interests, rights to purchase, warrants, options,
participations or other equivalents of or interests in (however designated)
stock issued by that corporation.

          “cash”
means U.S. legal tender.

          “Certificated Securities” means
Securities
that are in the form of the Securities attached hereto as Exhibit B.

          “Change of
Control” means the occurrence at such time after the original
issuance of the Securities when any of the following has occurred:

          (1)
a “person” or “group” within the meaning of Section 13(d)(3) of the
Exchange Act files a Schedule 13D or any schedule, form or report under the
Exchange Act disclosing that such person or group has become the direct or
indirect “beneficial owner,” as defined in Rule 13d-3 under the Exchange Act,
of shares of Common Stock representing more than 50% of the Voting Stock; or

          (2)
the first day on which a majority of the members of the Board of Directors does
not consist of Continuing Directors; or

          (3)  a consolidation, merger or binding share
exchange, or any conveyance, transfer, sale, lease or other disposition of all
or substantially all of the Company’s properties and assets to another person,
other than:

	
 

	
 

	
 

	
(a) any
  transaction (i) that does not result in any reclassification, conversion,
  exchange or cancellation of outstanding Capital Stock and (ii) pursuant to
  which holders of the Company’s Capital Stock immediately prior to such
  transaction have the entitlement to exercise, directly or indirectly, 50% or
  more of the total Voting Stock of the continuing or surviving or successor
  person immediately after giving effect to such issuance; or

	
 

	
 

	
 

	
(b) any
  merger, share exchange, transfer of assets or similar transaction solely for
  the purpose of changing the Company’s jurisdiction of incorporation and
  resulting in a reclassification, conversion or exchange of outstanding shares
  of Common Stock, if at all, solely into shares of common stock, ordinary
  shares or American Depositary Shares of the surviving entity or a direct or
  indirect parent of the surviving corporation; or

2

	
 

	
 

	
 

	
(c) any
  consolidation, merger, conveyance, transfer, sale, lease or other disposition
  with or into a Subsidiary, so long as such merger, consolidation, conveyance,
  transfer, sale, lease or other disposition is not part of a plan or a series
  of transactions designed to or having the effect of merging or consolidating
  with or conveying, transferring, selling, leasing or otherwise disposing of
  all or substantially all of the Company’s properties and assets to, any other
  person.

          The
term “person” as used in this definition includes any syndicate or group that
would be deemed to be a “person” under Section 13(d)(3) of the Exchange Act.

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

          “Code”
means the Internal Revenue Code of 1986, as amended from time to time. 

          “Common Stock” means the common stock,
par
value $0.10 per share, of the Company existing on the date of this Indenture or
any other shares of Capital Stock of the Company into which such Common Stock
shall be reclassified or changed, including, subject to Section 10.05 below, in
the event of a merger, consolidation or other similar transaction involving the
Company that is otherwise permitted hereunder in which the Company is not the
surviving person, the common stock of such surviving corporation.

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

          “Company
Notice” means a notice to Holders delivered pursuant to Section
3.02.

          “Company Request” or “Company
Order” means a written request or
order signed in the name of the Company by any Officer.

          “Continuing
Director” means a director who either was a member of the Board of
Directors on the date the Securities are first issued hereunder or who becomes
a member of the Board of Directors subsequent to that date and whose appointment,
election or nomination for election by the Company’s shareholders is duly
approved by a majority of the Continuing Directors on the Board of Directors at
the time of such approval, either by specific vote or by approval of the proxy
statement issued by the Company on behalf of the Board of Directors in which
such individual is named as nominee for director.

          “Conversion
Settlement Date” means (A) with respect to the Conversion Settlement
Distribution (other than any Additional Shares which may be issuable

3

pursuant to Section 10.01(c)), the third Business Day immediately following the
Cash Settlement Period, and (B) with respect to any Additional Shares which may
be issuable, the later of (i) the fifth Business Day following the effective
date of any Change of Control transaction and (2) the third Business Day
immediately following the Cash Settlement Period.

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

          “Corporate Trust Office” means the
designated office of the Trustee at which at any time its corporate trust
business shall be principally administered, which office at the date hereof is
located at 60 Livingston Avenue, St. Paul, MN
55107, Attention: Corporate Trust Administration, or such other address
as the Trustee may designate from time to time by notice to the Holders and the
Company, or the principal corporate trust office of any successor Trustee (or
such other address as a successor Trustee may designate from time to time by
notice to the Holders and the Company).

          “Current Market Price” of the Common
Stock
on any day means the average of the Last Reported Sale Price per share of the
Common Stock for each of the ten consecutive Trading Days ending on the earlier
of the day in question and the day before the “Ex-Dividend Date” with respect
to the issuance or distribution requiring such computation, subject to
adjustment by the Board of Directors if another transaction requiring an
adjustment to the Conversion Rate pursuant to Section 10.04 occurs during such
ten day period. 

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

          “DTC”
means The Depository Trust Company.

          “Ex-Dividend
Date” means the first date upon which a sale of the Common Stock,
regular way on the relevant exchange or in the relevant market for the Common
Stock, does not automatically transfer the right to receive the relevant
dividend or distribution from the seller of the Common Stock to its buyer.

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

          “Fair Market Value”, or “fair
market value” means the amount which a
willing buyer would pay a willing seller in an arm’s-length transaction.

          “Fundamental
Change” means either a Change of Control or a Termination of
Trading.

          “Global Securities” means Securities
that are in the form of the Securities attached hereto as Exhibit A, and that are registered in the register of Securities
in

4

the name of a Depositary or a nominee thereof, and to the extent that such Securities are required to bear the
Legend required by Section 2.06(g), such Securities shall be in the form of a 144A Global Security.

          “Holder” or
“Securityholder” means a person in whose name a Security is registered on the Registrar’s books.

          “Indenture” means this Indenture, as
amended or supplemented from time to time in accordance with the terms hereof, including the provisions of the TIA that are deemed
to be a part hereof.

          “Interest” means interest payable on
each Security pursuant to Section 1 of the Securities.

          “Interest Payment Date” means June 15
and December 15 of each year, commencing June 15, 2007.

          “Interest Record Date” means June 1
and December 1 of each year.

          “Issue Date” of any Security means
the date on which the Security was originally issued or deemed issued as set forth on the face of the Security.

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

          “NASDAQ” means The NASDAQ Stock
Market.

          “NYSE” means The New York Stock
Exchange, Inc.

          “Offering Memorandum” means the
offering memorandum of the Company dated April 19, 2007 relating to the offering of the Securities.

          “Officer” means the Chairman of the
Board, the Chief Executive Officer, the President, the Chief Financial Officer, any Vice President, the Treasurer, the

5

Controller, the Chief Accounting Officer, the Secretary or any Assistant Secretary of the Company.

          “Officer’s Certificate” means a
written certificate containing the information specified in Sections 11.04 and 11.05, signed in the name of the Company by any
Officer, and delivered to the Trustee. An Officer’s Certificate given pursuant to Section 4.03 shall be signed by the
principal executive officer, principal financial officer or principal accounting officer of the Company but need not contain the
information specified in Sections 11.04 and 11.05.

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

          “Opinion of Counsel” means a written
opinion containing the information specified in Sections 11.04 and 11.05, from legal counsel. The counsel may be an employee of,
or counsel to, the Company who is reasonably acceptable to the Trustee.

          “Purchase Agreement” means the
Purchase Agreement dated April 19, 2007 between the Company, on the one hand, and Banc of America Securities LLC, as
representative of the several initial purchasers, on the other, relating to the Securities.

          “Record Date” shall mean, with
respect to any dividend, distribution or other transaction or event in which the holders of Common Stock have the right to receive
any cash, securities or other property or in which the Common Stock (or other applicable security) is exchanged for or converted
into any combination of cash, securities or other property, the date fixed for determination of stockholders entitled to receive
such cash, securities or other property (whether such date is fixed by the Board of Directors or by statute, contract or
otherwise).

          “Registration Rights Agreement” means
the Registration Rights Agreement, dated the date hereof, between the Company, on the one hand, and Banc of America Securities
LLC, on the other.

          “Responsible Officer” means, when
used with respect to the Trustee, any officer of the Trustee within the Institutional Trust Services department (or any successor
department) of the Trustee located at the Corporate Trust Office of the Trustee who has direct responsibility for the
administration of this Indenture and, for the purposes of Section 7.01(c)(2) and 7.05 shall also mean any other officer of the
Trustee to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the
particular subject matter.

          “Restricted Security” means a
Security required to bear the Legend.

          “Rule 144A” means Rule 144A under the
Securities Act (or any successor provision), as it may be amended from time to time.

6

          “SEC” means the Securities and
Exchange Commission. 

          “Securities Act” means the Securities
Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder.

          “Security” means any of the
Company’s 1.22% Convertible Senior Debentures Due 2008, as amended or supplemented from time to time, issued under this
Indenture.

          “Securityholder” or
“Holder” means a person in whose name a Security is registered on the Registrar’s books.

          “Significant Subsidiary” means any
subsidiary of the Company that is a significant subsidiary at any determination date pursuant to Regulation S-X, Rule 1-02(w)(1)
or (2).

          “Stated Maturity”, when used with
respect to any Security, means December 15, 2008.

          “Stock Price” means the price per
share of Common Stock paid in connection with a Change of Control transaction pursuant to which Additional Shares are issuable as
set forth in Section 10.01(c) hereof, which shall be equal to (i) if Holders of Common Stock receive only cash in such Change of
Control transaction, the cash amount paid per share of Common Stock and (ii) in all other cases, the average of the Last Reported
Sale Prices of the Common Stock on the five Trading Days prior to, but not including, the effective date of such Change of Control
transaction.

          “Subsidiary” means any person of
which at least a majority of the outstanding Voting Stock shall at the time directly or indirectly be owned or controlled by the
Company or by one or more Subsidiaries or by the Company and one or more Subsidiaries.

           “Termination of Trading” means the
occurrence, at any time, of the Common Stock of the Company (or other common stock into which the Securities are then convertible)
not being listed for trading on a U.S. national securities exchange.

          “TIA” means the Trust Indenture Act
of 1939 as in effect on the date of this Indenture, provided, however, that in the event the TIA is amended after
such date, TIA means, to the extent required by any such amendment, the TIA as so amended.

          “Trading Day” means a day during which
trading in securities generally occurs on the NYSE or, if the Common Stock is
not quoted on the NYSE, then a day during which trading in securities generally
occurs on the principal U.S. securities exchange on which the Common Stock is
then listed or, if the Common

7

Stock is not listed on a U.S. national or regional securities exchange, then on the principal other market on
which the Common Stock is then traded or quoted.

          “Trading Price” of the Securities on
any date of determination means the average of the secondary market bid quotations per $1,000 principal amount of the Securities
obtained by the Bid Solicitation Agent for $5,000,000 aggregate principal amount of the Securities at approximately 3:30 p.m., New
York City time, on such determination date from three independent nationally recognized securities dealers the Company selects,
provided that if three such bids cannot reasonably be obtained by the Bid Solicitation Agent, but two such bids are
obtained, then the average of the two bids shall be used, and if only one such bid can reasonably be obtained by the Bid
Solicitation Agent, that one bid shall be used. If the Bid Solicitation Agent cannot reasonably obtain at least one bid for
$5,000,000 aggregate principal amount of the Securities from a nationally recognized securities dealer, or in the Company’s
reasonable judgment, the bid quotations are not indicative of the secondary market value of $1,000 principal amount of the
Securities, then for purposes of determining whether the condition to conversion of the Securities set forth in Section
10.01(a)(2) has been satisfied, the Trading Price of the Securities will be deemed to be less than 98% of the product of the Last
Reported Sale Price of the Common Stock and the Conversion Rate on such date.

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

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

8

          Section 1.02.  Other Definitions.

	
 

	
 

	
 

	
Terms:

	
 

	
Defined in Section:

	
“Act”

	
 

	
1.05(a)

	
“Accepted Purchased Shares”

	
 

	
10.04(g)

	
“Acquisition Value”

	
 

	
10.01(d)

	
“Additional Amounts Notice”

	
 

	
4.07

	
“Additional Shares

	
 

	
10.01(c)

	
“Agent Members”

	
 

	
2.12(a)

	
“Bankruptcy Law”

	
 

	
6.01(f)

	
“Cash Settlement Period”

	
 

	
10.03(a)

	
“Conversion Agent”

	
 

	
2.03

	
“Conversion Date”

	
 

	
10.02(c)

	
“Conversion Notice”

	
 

	
10.02(b)

	
“Conversion Obligation”

	
 

	
10.01(a)

	
“Conversion Rate”

	
 

	
10.02(a)

	
“Conversion Settlement Distribution”

	
 

	
10.03(a)

	
“Conversion Value”

	
 

	
10.03(a)

	
“Depositary”

	
 

	
2.01(b)

	
“Distributed Assets”

	
 

	
10.04(d)

	
“DTC”

	
 

	
2.01(b)

	
“effective
  date”

	
 

	
10.01(c)

	
“Event of
  Default”

	
 

	
6.01

	
“Exchange
  Property”

	
 

	
10.01(b)

	
“Expiration
  Time”

	
 

	
10.04(f) 

	
“extension
  fee”

	
 

	
6.01(h)

	
“Extraordinary
  Cash Dividend”

	
 

	
10.04(e)

	
“Fiscal
  Quarter”

	
 

	
10.01(a)

	
“Fundamental
  Change Repurchase Date”

	
 

	
3.02(a)

	
“Fundamental
  Change Repurchase Notice”

	
 

	
3.02(c)

	
“Fundamental
  Change Repurchase Price”

	
 

	
3.02(a)

	
“legal
  holiday”

	
 

	
11.08

	
“Legend”

	
 

	
2.06(g)

	
“Measurement
  Period”

	
 

	
10.01(a)

	
“Net Shares”

	
 

	
10.03(a)

	
“Net Share
  Amount”

	
 

	
10.03(a)

	
“Notice of
  Default”

	
 

	
6.01(g)

9

	
 

	
 

	
 

	
Terms:

	
 

	
Defined in
  Section:

	
“Offer
  Expiration Time”

	
 

	
10.04(g)

	
“Paying
  Agent”

	
 

	
2.03

	
“Public
  Acquirer Change of Control

	
 

	
10.01(d)

	
“Principal
  Return”

	
 

	
10.03(a)

	
“Public
  Acquirer Common Stock”

	
 

	
10.01(d)

	
“Purchased
  Shares”

	
 

	
10.04(f)

	
“QIBs”

	
 

	
2.01(b)

	
“Registrar”

	
 

	
2.03

	
“Rule 144A
  Information”

	
 

	
4.06

	
“Specified
  Cash Amount”

	
 

	
10.03(a)

	
“successor
  person”

	
 

	
5.01(a)

	
“Twenty Day
  Average Closing Stock Price

	
 

	
10.03(a)

	
“Trigger
  Event”

	
 

	
10.04(d)

	
“Valuation
  Period”

	
 

	
10.01(d)

          Section
1.03.  Incorporation by Reference of Trust
Indenture Act.  Whenever this
Indenture refers to a provision of the TIA, the provision is incorporated by
reference in and made a part of this Indenture. The following TIA terms used in
this Indenture have the following meanings

          “Commission” means the SEC.

          “indenture securities” means the
Securities.

          “indenture security holder” means a
Securityholder.

          “indenture to be qualified” means this
Indenture.

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

          “obligor” on the indenture securities
means
the Company.

          All
other TIA terms used in this Indenture that are defined by the TIA, defined by
TIA reference to another statute or defined by SEC rules have the meanings
assigned to them by such definitions.

          Section
1.04.  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 generally accepted accounting principles as in effect from
  time to time;

	
 

	
 

	
 

	
 

	
(3)

	
“or” is not
  exclusive;

10

	
 

	
 

	
 

	
 

	
(4)

	
“including” means including, without
  limitation;

	
 

	
 

	
 

	
 

	
(5)

	
words in the
  singular include the plural, and words in the plural include the singular;
  and

	
 

	
 

	
 

	
 

	
(6)

	
references
  to Sections and Articles are to references to Sections and Articles of this
  Indenture.

          Section
1.05.  Acts of Holders. (a)  Any request, demand,
authorization, direction, notice, consent, waiver or other action provided by
this Indenture to be given or taken by Holders may be embodied in and evidenced
by one or more instruments of substantially similar tenor signed by such
Holders in person or by an agent duly appointed in writing; and, except as
herein otherwise expressly provided, such action shall become effective when
such instrument or instruments are delivered to the Trustee and, where it is
hereby expressly required, to the Company, as described in Section 11.02.  Such instrument or instruments (and the
action embodied therein and evidenced thereby) are herein sometimes referred to
as the “Act”
of Holders signing such instrument or instruments.  Proof of execution of any such instrument or of a writing appointing
any such agent shall be sufficient for any purpose of this Indenture and
conclusive in favor of the Trustee and the Company, if made in the manner
provided in this Section.

          (b)
The fact and date of the execution by any person of any such instrument or
writing may be proved by the affidavit of a witness of such execution or by a
certificate of a notary public or other officer authorized by law to take
acknowledgments of deeds, certifying that the individual signing such
instrument or writing acknowledged to such officer the execution thereof. Where
such execution is by a signer acting in a capacity other than such signer’s
individual capacity, such certificate or affidavit shall also constitute
sufficient proof of such signer’s authority. The fact and date of the execution
of any such instrument or writing, or the authority of the person executing the
same, may also be proved in any other manner which the Trustee deems
sufficient.

          (c)
The principal amount and serial number of any Security and the ownership of
Securities shall be proved by the register for the Securities.

          (d)
Any request, demand, authorization, direction, notice, consent, waiver or other
Act of the Holder of any Security shall bind every future Holder of the same
Security and the Holder of every Security issued upon the registration of
transfer thereof or in exchange therefor or in lieu thereof in respect of
anything done, omitted or suffered to be done by the Trustee or the Company in
reliance thereon, whether or not notation of such action is made upon such
Security.

          (e)
If the Company shall solicit from the Holders any request, demand,
authorization, direction, notice, consent, waiver or other Act, the Company
may, at its option, by or pursuant to a Board Resolution, fix in advance a
record date for the determination of Holders entitled to give such request,
demand, authorization,

11

direction,
notice, consent, waiver or other Act, but the Company shall have no obligation
to do so. If such a record date is fixed, such request, demand, authorization,
direction, notice, consent, waiver or other Act may be given before or after
such record date, but only the Holders of record at the close of business on
such record date shall be deemed to be Holders for the purposes of determining
whether Holders of the requisite proportion of outstanding Securities have
authorized or agreed or consented to such request, demand, authorization,
direction, notice, consent, waiver or other Act, and for that purpose the outstanding
Securities shall be computed as of such record date; provided that no such
authorization, agreement or consent by the Holders on such record date shall be
deemed effective unless it shall become effective pursuant to the provisions of
this Indenture not later than six months after the record date.

ARTICLE 2

THE SECURITIES

          Section
2.01.  Form and Dating.  (a) The Securities and the Trustee’s certificate of
authentication shall be substantially in the form of Exhibits A and B, which
are a part of this Indenture.  The
Securities may have notations, legends or endorsements required by law, stock
exchange rule or usage (provided that any such notation, legend or endorsement
required by usage is in a form acceptable to the Company).  The Company shall provide any such
notations, legends or endorsements to the Trustee in writing.  Each Security shall be dated the date of its
authentication. The Securities may, but need not, have the corporate seal of
the Company or a facsimile thereof affixed thereto or imprinted thereon.

          (b) 144A Global Securities.  Securities
offered and sold within the United States to qualified institutional buyers as
defined in Rule 144A (“QIBs”) in reliance on Rule 144A shall be
issued initially in the form of a 144A Global Security, which shall be
deposited with the Trustee at its Corporate Trust Office, as custodian for the
Depositary (as defined below) and registered in the name of The Depository
Trust Company (“DTC”) or the nominee thereof (DTC, or any successor thereto,
and any such nominee being hereinafter referred to as the “Depositary”), duly executed
by the Company and authenticated by the Trustee as hereinafter provided.  The aggregate principal amount of the 144A
Global Securities may from time to time be increased or decreased by
adjustments made on the records of the Trustee and the Depositary as
hereinafter provided.

          (c)
Global Securities in General.  Each Global Security shall represent such of
the outstanding Securities as shall be specified therein and each shall provide
that it shall represent the aggregate amount of outstanding Securities from
time to time endorsed in the Schedule of Increases and Decreases of Global
Security attached thereto and that the aggregate amount of outstanding Securities
represented thereby may from time to time be reduced or increased, as
appropriate, to reflect exchanges, repurchases and conversions.

12

          Any
adjustment of the aggregate principal amount of a Global Security to reflect
the amount of any increase or decrease in the amount of outstanding Securities
represented thereby shall be made by the Trustee in accordance with
instructions given by the Holder thereof as required by Section 2.12 hereof,
and shall be made on the records of the Trustee and the Depositary.

          (d)
Book-Entry Provisions.  This Section 2.01(d) shall apply only to
Global Securities deposited with or on behalf of the Depositary.

          The
Company shall execute and the Trustee shall, in accordance with this Section
2.01(d), authenticate and deliver initially one or more Global Securities that
(a) shall be registered in the name of the Depositary or a nominee thereof, (b)
shall be delivered by the Trustee to the Depositary or held by the Trustee
pursuant to the Depositary’s instructions and (c) shall be substantially in the
form of Exhibit A attached hereto.

          (e)
Certificated Securities.  Securities not issued as
interests in the Global Securities shall be issued in certificated form
substantially in the form of Exhibit B attached hereto.

          Section
2.02.  Execution and Authentication.  The Securities shall be executed
on behalf of the Company by one Officer.
The signature of such Officer on the Securities may be manual or
facsimile.

          Securities
bearing the manual or facsimile signature of an individual who was, at the time
of the execution of the Securities, an Officer shall bind the Company,
notwithstanding that such individual has ceased to hold such office prior to
the authentication and delivery of such Securities or did not hold such office
at the date of authentication of such Securities.

          No
Security shall be entitled to any benefit under this Indenture or be valid or
obligatory for any purpose unless there appears on such Security a certificate
of authentication substantially in the form provided for herein duly executed
by the Trustee by manual signature of an authorized signatory, and such
certificate upon any Security shall be conclusive evidence, and the only
evidence, that such Security has been duly authenticated and delivered
hereunder.

          The
Trustee shall authenticate and deliver the Securities for original issue in an
aggregate principal amount of up to $1.0 billion (plus up to $200 million upon
exercise of the Initial Purchaser’s option to purchase additional Securities)
upon one or more Company Orders without any further action by the Company
(other than as contemplated in Section 11.04 and Section 11.05 hereof).  The aggregate principal amount of the
Securities due at the Stated Maturity thereof outstanding at any time may not
exceed the amount set forth in the foregoing sentence.

13

          The
Securities shall be issued only in registered form without coupons and only in
denominations of $1,000 of principal amount and any integral multiple of
$1,000.

          Section
2.03.  Registrar, Paying Agent, Bid Solicitation
Agent and Conversion Agent. The Company shall maintain an office or
agency where Securities may be presented for registration of transfer or for
exchange (“Registrar”), an office
or agency where Securities may be presented for purchase or payment (“Paying Agent”) and an office or agency
where Securities may be presented for conversion (“Conversion Agent”).
The Registrar shall keep a register of the Securities and of their
transfer and exchange.  The Company may
have one or more co-registrars, one or more additional paying agents, one or
more additional bid solicitation agents and one or more additional conversion
agents.  The term Paying Agent includes
any additional paying agent, including any named pursuant to Section 4.05. The
term Conversion Agent includes any additional conversion agent, including any
named pursuant to Section 4.05.

          The
Company shall enter into an appropriate agency agreement with any Registrar,
Paying Agent, Conversion Agent, Bid Solicitation Agent or co-registrar (in each
case, if such Registrar, agent or co-registrar is a person other than the
Trustee).  The agreement shall implement
the provisions of this Indenture that relate to such agent.  The Company shall promptly notify the
Trustee of the name and address of any such agent.  If the Company fails to maintain a Registrar, Paying Agent, Bid
Solicitation Agent or Conversion Agent, the Trustee shall act as such and shall
be entitled to appropriate compensation therefor pursuant to Section 7.07.  The Company or any Subsidiary or an
Affiliate of either of them may act as Paying Agent, Registrar, Conversion
Agent, Bid Solicitation Agent or co-registrar.

          The
Company initially appoints the Trustee as Registrar, Conversion Agent, Bid
Solicitation Agent and Paying Agent in connection with the Securities.

          Section
2.04.  Paying Agent to Hold Money and Securities in
Trust.  Except as otherwise
provided herein, on or prior to each due date of payments in respect of any
Security, the Company shall deposit with the Paying Agent a sum of money (in
immediately available funds if deposited on the due date) or shares of Common
Stock sufficient to make such payments when so becoming due.  The Company shall require each Paying Agent
(other than the Trustee) to agree in writing that the Paying Agent shall hold
in trust for the benefit of Securityholders or the Trustee all money and shares
of Common Stock held by the Paying Agent for the making of payments in respect
of the Securities and shall promptly notify the Trustee of any Default by the
Company in making any such payment.  At
any time during the continuance of any such Default, the Paying Agent shall,
upon the written request of the Trustee, forthwith pay to the Trustee all money
and shares of Common Stock so held in trust.
If the Company, a Subsidiary or an Affiliate of either of them acts as
Paying Agent, it shall segregate the money and shares of Common Stock held by
it as Paying Agent and hold it as a separate trust fund.  The Company at any time

14

may require a
Paying Agent to pay all money and shares of Common Stock held by it to the
Trustee and to account for any funds and Common Stock disbursed by it.  Upon doing so, the Paying Agent shall have
no further liability for the money or shares of Common Stock.

          Section
2.05.  Securityholder Lists.  The Trustee shall preserve the
most recent list available to it of the names and addresses of Securityholders.  If the Trustee is not the Registrar, the
Company shall cause to be furnished to the Trustee at least semiannually on
June 1 and December 1 a listing of Securityholders dated within 15 days of the
date on which the list is furnished and at such other times as the Trustee may
request in writing a list in such form and as of such date as the Trustee may
reasonably require of the names and addresses of Securityholders.

          Section
2.06.  Transfer and Exchange.  (a) Subject to Section 2.12
hereof, upon surrender for registration of transfer of any Security, together
with a written instrument of transfer satisfactory to the Registrar duly
executed by the Securityholder or such Securityholder’s attorney duly
authorized in writing, at the office or agency of the Company designated as
Registrar or co-registrar pursuant to Section 2.03, the Company shall execute,
and the Trustee shall authenticate and deliver, in the name of the designated
transferee or transferees, one or more new Securities of any authorized
denomination or denominations, of a like aggregate principal amount.  The Company shall not charge a service
charge for any registration of transfer or exchange, but the Company may
require payment of a sum sufficient to pay all taxes, assessments or other
governmental charges that may be imposed in connection with the transfer or
exchange of the Securities from the Securityholder requesting such transfer or
exchange.

          At
the option of the Holder, Securities may be exchanged for other Securities of
any authorized denomination or denominations, of a like aggregate principal
amount upon surrender of the Securities to be exchanged, together with a
written instrument of transfer satisfactory to the Registrar duly executed by
the Securityholder or such Securityholder’s attorney duly authorized in
writing, at such office or agency.
Whenever any Securities are so surrendered for exchange, the Company
shall execute, and the Trustee shall authenticate and deliver, the Securities
which the Holder making the exchange is entitled to receive.

          The
Company shall not be required to make, and the Registrar need not register,
transfers or exchanges of Securities in respect of which a Fundamental Change
Repurchase Notice has been given and not withdrawn by the Holder thereof in
accordance with the terms of this Indenture (except, in the case of Securities
to be purchased in part, the portion thereof not to be purchased).

          (b)
Notwithstanding any provision to the contrary herein, so long as a Global Security
remains outstanding and is held by or on behalf of the Depositary, transfers of
a Global Security, in whole or in part, shall be made only in accordance with
Section 2.12 and this Section 2.06(b).
Transfers of a Global Security shall,

15

except as set
forth in Section 2.12, be limited to transfers of such Global Security in whole
or in part, to the Depositary, to nominees of the Depositary or to a successor
of the Depositary or such successor’s nominee.

          (c)
Successive registrations and registrations of transfers and exchanges as
aforesaid may be made from time to time as desired, and each such registration
shall be noted on the register for the Securities.

          (d)
Except as otherwise set forth in this Indenture, any such action taken by a
Holder shall be conclusive and binding upon such Holder and upon all future
Holders and owners of such Security and of any Securities issued in exchange or
substitution therefor, irrespective of whether any notation in regard thereto
is made upon such Security or any Security issued in exchange or substitution
therefor.

          (e)
Any Registrar appointed pursuant to Section 2.03 hereof shall provide to the
Trustee such information as the Trustee may reasonably require in connection
with the delivery by such Registrar of Securities upon transfer or exchange of
Securities.

          (f)
No Registrar shall be required to make registrations of transfer or exchange of
Securities during any periods designated in the text of the Securities or in
this Indenture as periods during which such registration of transfers and
exchanges need not be made.

          (g)
If Securities are issued upon the transfer, exchange or replacement of
Securities subject to restrictions on transfer and bearing the legends relating
to such restrictions imposed by the securities laws set forth on the forms of
Security attached hereto as Exhibits A and B setting forth such restrictions
(collectively, the “Legend”), or
if a request is made to remove the Legend on a Security, the Securities so
issued shall bear the Legend, or the Legend shall not be removed, as the case
may be, unless there is delivered to the Company and the Registrar such
satisfactory evidence, which shall include an opinion of counsel, as may be
reasonably required by the Company and the Registrar and the Trustee (if not
the same person as the Registrar), that neither the Legend nor the restrictions
on transfer set forth therein are required to ensure that transfers thereof
comply with the provisions of Rule 144 under the Securities Act or that such
Securities are not “restricted” within the meaning of Rule 144 under the
Securities Act.  Upon (i)
provision of such satisfactory evidence, or (ii) notification by the
Company to the Trustee and Registrar of the sale of such Security pursuant to a
registration statement that is effective at the time of such sale, the Trustee,
at the written direction of the Company, shall authenticate and deliver a
Security that does not bear the Legend.
If the Legend is removed from the face of a Security and the Security is
subsequently held by the Company or an Affiliate of the Company, the Legend
shall be reinstated.

          Section
2.07.  Replacement Securities.  If (a) any mutilated Security is
surrendered to the Trustee, or (b) the Company and the Trustee receive evidence
to

16

their
satisfaction of the destruction, loss or theft of any 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 harmless, then, in the absence of notice
to the Company or the Trustee that such Security has been acquired by a bona
fide purchaser, the Company shall execute and upon its written request the
Trustee shall authenticate and deliver, in exchange for any such mutilated
Security or in lieu of any such destroyed, lost or stolen Security, a new
Security of like tenor and principal amount, bearing a certificate number not
contemporaneously outstanding.

          In
case any such mutilated, destroyed, lost or stolen Security has become or is
about to become due and payable, or is about to be purchased by the Company
pursuant to Article 3 hereof, the Company in its discretion may, instead of
issuing a new Security, pay or purchase such Security, as the case may be.

          Upon
the issuance of any new Securities under this Section 2.07, 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 (including
the fees and expenses of the Trustee) connected therewith.

          Every
new Security issued pursuant to this Section 2.07 in lieu of any mutilated,
destroyed, lost or stolen Security shall constitute an original contractual
obligation of the Company, whether or not the destroyed, lost or stolen
Security shall be at any time enforceable by anyone, and shall be entitled to
all benefits of this Indenture equally and proportionately with any and all
other Securities duly issued hereunder.

          The
provisions of this Section 2.07 are exclusive and shall preclude (to the extent
lawful) all other rights and remedies with respect to the replacement or
payment of mutilated, destroyed, lost or stolen Securities.

          Section
2.08.  Outstanding Securities; Determinations of
Holders’ Action.  Securities
outstanding at any time are all the Securities authenticated by the Trustee
except for those cancelled by it, those purchased pursuant to Section 2.07,
those delivered to it for cancellation and those described in this Section 2.08
as not outstanding.  A Security does not
cease to be outstanding because the Company or an Affiliate thereof holds the
Security; provided,
however,
that in determining whether the Holders of the requisite principal amount of Securities
have given or concurred in any request, demand, authorization, direction,
notice, consent, waiver, or other Act hereunder, Securities owned by the
Company or any other obligor upon the Securities or any Affiliate of the
Company or 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, waiver or other act, only Securities which a Responsible Officer of
the Trustee actually knows to be so owned shall be so disregarded.  Subject to the foregoing, only Securities
outstanding at the time of

17

such
determination shall be considered in any such determination (including, without
limitation, determinations pursuant to Article 6 and Article 9).

          If
a Security is replaced pursuant to Section 2.07, it ceases to be outstanding
unless the Trustee receives proof satisfactory to it that the replaced Security
is held by a bona fide purchaser.

          If
the Paying Agent holds, in accordance with this Indenture, on the Business Day
immediately following a Fundamental Change Repurchase Date, or on Stated
Maturity, money or securities, if permitted hereunder, sufficient to pay
Securities payable on that date, then from and after such Fundamental Change
Repurchase Date or Stated Maturity, as the case may be, such Securities shall
cease to be outstanding and Interest and Additional Amounts, if any, on such
Securities shall cease to accrue.

          If
a Security is converted in accordance with Article 10, then from and after the
time of conversion on the date of conversion, such Security shall cease to be
outstanding and Interest and Additional Amounts, if any, shall cease to accrue
and the rights of the Holders therein shall terminate (other than the right to
receive the Conversion Settlement Distribution).

          Section
2.09.  Temporary Securities.  Pending the preparation of
Certificated Securities, the Company may execute, and upon Company Order the
Trustee shall authenticate and deliver, temporary Securities which are printed,
lithographed, typewritten, mimeographed or otherwise produced, in any
authorized denomination, substantially of the tenor of the Certificated
Securities in lieu of which they are issued and with such appropriate
insertions, omissions, substitutions and other variations as the Officers
executing such Securities may determine, as conclusively evidenced by their
execution of such Securities.

          If
temporary Securities are issued, the Company shall cause Certificated
Securities to be prepared without unreasonable delay.  After the preparation of Certificated Securities, the temporary
Securities shall be exchangeable for Certificated Securities upon surrender of
the temporary Securities at the office or agency of the Company designated for
such purpose pursuant to Section 2.03, without charge to the Holder. Upon
surrender for cancellation of any one or more temporary Securities the Company
shall execute and the Trustee shall authenticate and deliver in exchange
therefor a like principal amount of Certificated Securities of authorized
denominations.  Until so exchanged the
temporary Securities shall in all respects be entitled to the same benefits
under this Indenture as Certificated Securities.

          Section
2.10.  Cancellation.  All Securities surrendered for payment, purchase by
the Company pursuant to Article 3, conversion or registration of transfer or
exchange shall, if surrendered to any person other than the Trustee, be
delivered to the Trustee and shall be promptly cancelled by it.  The Company may at any time deliver to the
Trustee for cancellation any Securities previously 

18

authenticated
and delivered hereunder which the Company may have acquired in any manner
whatsoever, and all Securities so delivered shall be promptly cancelled by the
Trustee. The Company may not issue new Securities to replace Securities it has
paid or delivered to the Trustee for cancellation other than in connection with
registrations of transfer or exchange or that any Holder has converted pursuant
to Article 10. No Securities shall be authenticated in lieu of or in exchange
for any Securities cancelled as provided in this Section, except as expressly
permitted by this Indenture. All cancelled Securities held by the Trustee shall
be disposed of by the Trustee in accordance with the Trustee’s customary
procedure.

          Section
2.11.
Persons Deemed Owners. Prior to due presentment of a Security for
registration of transfer, the Company, the Trustee and any agent of the Company
or the Trustee may treat the person in whose name such Security is registered
as the owner of such Security for the purpose of receiving payment of the
principal amount of the Security or any portion thereof, or the payment of any
Fundamental Change Repurchase Price in respect thereof, and Interest or
Additional Amounts thereon, for the purpose of conversion and for all other purposes
whatsoever, whether or not such Security be overdue, and neither the Company,
the Trustee nor any agent of the Company or the Trustee shall be affected by
notice to the contrary.

          Section
2.12.
Global Securities. (a) Notwithstanding any other provisions of this
Indenture or the Securities, (A) transfers of a Global Security, in whole or in
part, shall be made only in accordance with Section 2.06 and Section 2.12(a)(i)
below, (B) transfers of a beneficial interest in a Global Security for a Certificated
Security shall comply with Section 2.06 and Section 2.12(a)(ii) below and
Section 2.12(e) below, and (C) transfers of a Certificated Security shall
comply with Section 2.06, Section 2.12(a)(iii) and Section 2.12(a)(iv) below.

	
 

	
 

	
 

	
          (i) Transfer
  of Global Security. A Global Security may not be transferred, in
  whole or in part, to any person other than the Depositary or a nominee or any
  successor thereof, and no such transfer to any such other person may be
  registered; provided that this Section 2.12(a)(i) shall not prohibit
  any transfer of a Security that is issued in exchange for a Global Security
  but is not itself a Global Security. No transfer of a Security to any person
  shall be effective under this Indenture or the Securities unless and until
  such Security has been registered in the name of such person. Nothing in this
  Section 2.12(a)(i) shall prohibit or render ineffective any transfer of a
  beneficial interest in a Global Security effected in accordance with the
  other provisions of this Section 2.12.

	
 

	
 

	
 

	
          (ii) Restrictions
  on Transfer of a Beneficial Interest in a Global Security for a Certificated
  Security. A beneficial interest in a Global Security may not be
  exchanged for a Certificated Security except upon satisfaction of the
  requirements set forth in this clause (ii) below and in Section 2.12(e)
  below. Upon receipt by the Trustee of a request to transfer 

19

	
 

	
 

	
 

	
a beneficial
  interest in a Global Security in accordance with Applicable Procedures for a
  Certificated Security in the form satisfactory to the Trustee, together with:

	
 

	
 

	
 

	
          (A)
  so long as the Securities are Restricted Securities, a certification, in the
  form set forth in Exhibit C, that such beneficial interest in a Global
  Security (1) is being transferred to a QIB in accordance with Rule 144A or
  (2) is being transferred pursuant to and in compliance with Rule 144 under
  the Securities Act or another exemption from the securities laws (which is
  documented to the Company’s satisfaction);

	
 

	
 

	
 

	
          (B)
  written instructions to the Trustee to make, or direct the Registrar to make,
  an adjustment on its books and records with respect to such Global Security
  to reflect a decrease in the aggregate principal amount of the Securities
  represented by the Global Security, such instructions to contain information
  regarding the Depositary account to be decreased; and

	
 

	
 

	
 

	
          (C)
  if the Company or the Trustee so requests, an opinion of counsel or other
  evidence reasonably satisfactory to it as to the compliance with the
  restrictions set forth in the Legend, 

	
 

	
 

	
 

	
 

	
then the
  Trustee shall cause, or direct the Registrar to cause, in accordance with the
  standing instructions and procedures existing between the Depositary and the
  Registrar, the aggregate principal amount of the Securities represented by
  the Global Security to be decreased by the aggregate principal amount of the
  Certificated Security to be issued, shall issue such Certificated Security
  and shall debit or cause to be debited to the account of the person specified
  in such instructions a beneficial interest in the Global Security equal to
  the principal amount of the Certificated Security so issued.

	
 

	
 

	
 

	
          (iii) Transfer
  and Exchange of Certificated Securities. When Certificated
  Securities are presented to the Registrar with a request:

	
 

	
 

	
 

	
 

	
          (A)
  to register the transfer of such Certificated Securities; or

	
 

	
 

	
 

	
 

	
 

	
          (B)
  to exchange such Certificated Securities for an equal principal amount of
  Certificated Securities of other authorized denominations,

	
 

	
 

	
 

	
 

	
the
  Registrar shall register the transfer or make the exchange as requested if
  its reasonable requirements for such transaction are met; provided,
  however, that the Certificated Securities surrendered for transfer or
  exchange:

20

	
 

	
 

	
 

	
 

	
 

	
 

	
          (1)
  shall be duly endorsed or accompanied by a written instrument of transfer in
  form reasonably satisfactory to the Company and the Registrar, duly executed
  by the Holder thereof or his attorney duly authorized in writing; and

	
 

	
 

	
 

	
 

	
 

	
          (2)
  so long as such Securities are Restricted Securities, such Securities are
  being transferred or exchanged pursuant to an effective registration
  statement under the Securities Act or pursuant to clause (x), (y) or (z)
  below, and are accompanied by the following additional information and
  documents, as applicable:

	
 

	
 

	
 

	
 

	
 

	
 

	
          (x)
  if such Certificated Securities are being delivered to the Registrar by a
  Holder for registration in the name of such Holder, without transfer, a
  certification from such Holder to that effect; or

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
          (y)
  if such Certificated Securities are being transferred to the Company, a
  certification to that effect (in the form set forth in Exhibit C); or

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
          (z)
  if such Certificated Securities are being transferred pursuant to an
  exemption from registration under the Securities Act, (i) a certification to
  that effect (in the form set forth in Exhibit C, if applicable) and (ii) if
  the Company or the Trustee so requests, an opinion of counsel or other
  evidence reasonably satisfactory to it as to the compliance with the
  restrictions set forth in the Legend.

	
 

	
 

	
 

	
 

	
 

	
          (iv)
  Restrictions
  on Transfer or Exchange of a Certificated Security for a Beneficial Interest
  in a Global Security. A Certificated Security may not be
  transferred or exchanged for a beneficial interest in a Global Security
  except upon satisfaction of the requirements set forth below.

	
 

	
 

	
 

	
          Upon
  receipt by the Trustee of a Certificated Security, duly endorsed or
  accompanied by appropriate instruments of transfer, in form satisfactory to
  the Trustee, together with:

	
 

	
 

	
 

	
 

	
                    (A)
  so long as the Securities are Restricted Securities, a certification, in the
  form set forth in Exhibit C, that such Certificated Security (1) is being
  transferred to the Company, (2) is being transferred to a QIB in accordance
  with Rule 144A or (3) is being transferred pursuant to and in compliance with
  Rule 144 under the Securities Act or another exemption from the securities
  laws (which is documented to the Company’s satisfaction); 

21

	
 

	
 

	
 

	
 

	
 

	
                    (B)
  written instructions directing the Trustee to make, or to direct the
  Registrar to make, an adjustment on its books and records with respect to
  such Global Security to reflect an increase in the aggregate principal amount
  of the Securities represented by the Global Security, such instructions to
  contain information regarding the Depositary account to be credited with such
  increase; and

	
 

	
 

	
 

	
 

	
 

	
                    (C)
  if the Company, or the Trustee so requests, an opinion of counsel or other
  evidence reasonably satisfactory to it as to the compliance with the
  restrictions set forth in the Legend, 

then the
Trustee shall cancel such Certificated Security and cause, or direct the
Registrar to cause, in accordance with the standing instructions and procedures
existing between the Depositary and the Registrar, the aggregate principal
amount of Securities represented by the Global Security to be increased by the
aggregate principal amount of the Certificated Security to be exchanged, and
shall credit or cause to be credited to the account of the person specified in
such instructions a beneficial interest in the Global Security equal to the
principal amount of the Certificated Security so cancelled. If no Global
Securities are then outstanding, the Company shall issue and the Trustee shall
authenticate, upon written order of the Company in the form of an Officer’s
Certificate, a new Global Security in the appropriate principal amount.

          (b)
Subject to the succeeding Section 2.12(c), every Security shall be subject to
the restrictions on transfer provided in the Legend including the delivery of
an opinion of counsel, if so provided. Whenever any Restricted Security is
presented or surrendered for registration of transfer or for exchange for a
Security registered in a name other than that of the Holder, such Security must
be accompanied by a certificate in substantially the form set forth in Exhibit
C, dated the date of such surrender and signed by the Holder of such Security,
as to compliance with such restrictions on transfer. The Registrar shall not be
required to accept for such registration of transfer or exchange any Security
not so accompanied by a properly completed certificate.

          (c)
The restrictions imposed by the Legend upon the transferability of any Security
shall cease and terminate when such Security has been sold pursuant to an
effective registration statement under the Securities Act or transferred in
compliance with Rule 144 under the Securities Act (or any successor provision
thereto) or, if earlier, upon the expiration of the holding period applicable
to sales thereof under Rule 144(k) under the Securities Act (or any successor
provision thereto). Any Security as to which such restrictions on transfer
shall have expired in accordance with their terms or shall have terminated may,
upon a surrender of such Security for exchange to the Registrar in accordance
with the provisions of this Section 2.12 (accompanied, in the event that such
restrictions on transfer have terminated by reason of a transfer in compliance
with Rule 144 under the Securities 

22

Act (or any
successor provision thereto), by an opinion of counsel having substantial
experience in practice under the Securities Act and otherwise reasonably
acceptable to the Company and the Trustee, addressed to the Company and the
Trustee and in form acceptable to the Company and the Trustee, to the effect
that the transfer of such Security has been made in compliance with Rule 144
under the Securities Act or such successor provision), be exchanged for a new
Security, of like tenor and aggregate principal amount, which shall not bear
the restrictive Legend. The Company shall inform the Trustee of the effective
date of any registration statement registering the Securities under the
Securities Act. The Trustee shall not be liable for any action taken or omitted
to be taken by it in good faith in accordance with the aforementioned opinion
of counsel or registration statement.

          (d)
As used in the preceding two paragraphs of this Section 2.12, the term
“transfer” encompasses any sale, pledge, transfer, loan, hypothecation, or
other disposition of any Security.

          (e)
The provisions of clauses (i), (ii), (iii), (iv) and (v) below shall apply only
to Global Securities:

	
 

	
 

	
 

	
          (i)
  Notwithstanding any other provisions of this Indenture or the Securities, a
  Global Security shall not be exchanged in whole or in part for a Security
  registered in the name of any person other than the Depositary or one or more
  nominees thereof, provided that a Global Security may be
  exchanged for Securities registered in the names of any person designated by
  the Depositary in the event that (i) the Depositary has notified the Company
  that it is unwilling or unable to continue as Depositary for such Global
  Security or such Depositary has ceased to be a “clearing agency” registered
  under Exchange Act, and a successor Depositary is not appointed by the
  Company within 90 days (ii) the Company determines at any time that the
  Securities shall no longer be represented by Global Securities and shall
  inform such Depositary of such determination in writing and participants in
  such Depositary elect to withdraw their beneficial interests in the Global
  Securities from such Depositary, following notification by the Depositary of
  their right to do so or (iii) an Event of Default has occurred and is
  continuing. Any Global Security exchanged pursuant to clause (i) above shall
  be so exchanged in whole and not in part, and any Global Security exchanged
  pursuant to clauses (ii) or (iii) above may be exchanged in whole or from
  time to time in part as directed by the Depositary. Any Security issued in
  exchange for a Global Security or any portion thereof shall be a Global
  Security; provided
  that any such Security so issued that is registered in the name of
  a person other than the Depositary or a nominee thereof or any successor of
  either of the foregoing pursuant to this paragraph shall not be a Global
  Security.

23

	
 

	
 

	
 

	
          (ii)
  Securities issued in exchange for a Global Security or any portion thereof
  shall be issued in definitive, fully registered form, shall have an aggregate
  principal amount equal to that of such Global Security or portion thereof to be
  so exchanged, shall be registered in such names and be in such authorized
  denominations as the Depositary shall designate and shall bear the applicable
  legends provided for herein. Any Global Security to be exchanged in whole
  shall be surrendered by the Depositary to the Registrar. With regard to any
  Global Security to be exchanged in part, either such Global Security shall be
  so surrendered for exchange or, if the Trustee is acting as custodian for the
  Depositary or its nominee with respect to such Global Security, the principal
  amount thereof shall be reduced by an amount equal to the portion thereof to
  be so exchanged, by means of an appropriate adjustment made on the records of
  the Trustee. Upon any such surrender or adjustment, the Trustee shall authenticate
  and deliver the Security issuable on such exchange to or upon the order of
  the Depositary or an authorized representative thereof.

	
 

	
 

	
 

	
          (iii)
  Subject to the provisions of clause (v) below, the registered Holder may
  grant proxies and otherwise authorize any person, including Agent Members (as
  defined below) and persons that may hold interests through Agent Members, to
  take any action which a Holder is entitled to take under this Indenture or
  the Securities.

	
 

	
 

	
 

	
          (iv)
  In the event of the occurrence of any of the events specified in clause (i)
  above, the Company shall promptly make available to the Trustee a reasonable
  supply of Certificated Securities in definitive, fully registered form.

	
 

	
 

	
 

	
          (v)
  Neither any members of, or participants in, the Depositary (collectively, the
  “Agent
  Members”) nor any other persons on whose behalf Agent Members may
  act shall have any rights under this Indenture with respect to any Global
  Security registered in the name of the Depositary or any nominee thereof, or
  under any such Global Security, and the Depositary or such nominee, as the
  case may be, may be treated by the Company, the Trustee and any agent of the
  Company or the Trustee as the absolute owner and Holder of such Global
  Security for all purposes whatsoever. Notwithstanding the foregoing, nothing
  herein shall prevent the Company, the Trustee or any agent of the Company or
  the Trustee from giving effect to any written certification, proxy or other
  authorization furnished by the Depositary or such nominee, as the case may
  be, or impair, as between the Depositary, its Agent Members and any other
  person on whose behalf an Agent Member may act, the operation of customary
  practices of such persons governing the exercise of the rights of a Holder of
  any Security.

24

	
 

	
 

	
 

	
          (vi)
  Except as expressly set forth in this Indenture, including Sections
  2.12(a)(ii) and 2.12(e), none of the Trustee, any Paying Agent, Conversion
  Agent, the Company or the Registrar shall have any responsibility or
  obligation to any beneficial owner in the Global Securities, a member of, or
  a participant in the Depositary or other person with respect to the accuracy
  of the records of the Depositary or its nominee or of any participant or
  member thereof, with respect to any ownership interest in the Global
  Securities or with respect to the delivery to any participant, member,
  beneficial owner or other person (other than the Depositary) of any notice or
  the payment of any amount, under or with respect to such Global Securities.
  All notices and communications to be given to the Holders and all payments to
  be made to Holders under the Securities shall be given or made only to or
  upon the order of the registered Holders (which shall be, in the case of a
  Global Security, the Depositary or its nominee). The rights of beneficial
  owners in the Global Securities shall be exercised only through the
  Depositary subject to the applicable rules and procedures of the Depositary.
  Other than as set forth in this Indenture, the Trustee, any Paying Agent, the
  Conversion Agent, the Company and the Registrar may rely and shall be fully
  protected in relying upon information furnished by the Depositary with
  respect to its members, participants and any beneficial owners. Except as
  expressly set forth in this Indenture, including Sections 2.12(a)(ii) and
  2.12(e), the Trustee, each Paying Agent, the Conversion Agent, the Company
  and the Registrar shall be entitled to deal with any depositary (including
  the Depositary), and any nominee thereof, that is the Holder of any Global
  Securities as a Holder for all purposes of this Indenture relating to such
  Global Securities (including the payment of principal, Interest and
  Additional Amounts, if any, and the giving of instructions or directions by
  or to the owner or Holder of a beneficial ownership interest in such Global
  Securities) as the sole Holder of such Global Securities and shall have no
  obligations to the beneficial owners thereof. None of the Trustee, any Paying
  Agent, the Conversion Agent, the Company or the Registrar shall have any
  responsibility or liability for any acts or omissions of any such depositary
  with respect to such Global Securities, for the records of any such
  depositary, including records in respect of beneficial ownership interests in
  respect of any such Global Securities, for any transactions between such
  depositary and any participant in such depositary or between or among any
  such depositary, any such participant and/or any holder or owner of a
  beneficial interest in such Global Securities or for any transfers of
  beneficial interests in any such Global Securities.

          (f)
The Trustee and the Registrar shall have no obligation or duty to monitor,
determine or inquire as to compliance with any restrictions on transfer imposed
under this Indenture or under applicable law with respect to any transfer of
any interest in any Security (including any transfers between or among Agent
Members or beneficial owners of interests in any Global Security) other than to
require delivery of such certificates and other documentation or evidence as
are 

25

expressly
required by, and to do so if and when expressly required by the terms of, this
Indenture, and to examine the same to determine substantial compliance as to
form with the express requirements hereof.

          The Trustee
shall have no responsibility for the actions or omissions of the Depositary, or
the accuracy of the books and records of the Depositary.

          Section
2.13.
CUSIP Numbers. The Company may issue the Securities with one or more
“CUSIP”, “ISIN” or other similar numbers (if then generally in use), and, if
so, the Trustee shall use “CUSIP” , “ISIN” or other similar numbers in notices
as a convenience to Holders; provided that any such notice may state that no
representation is made as to the correctness of such numbers either as printed
on the Securities or as contained in any notice of a purchase and that reliance
may be placed only on the other identification numbers printed on the
Securities. The Company shall promptly notify the Trustee of any change in the
CUSIP, ISIN or other similar numbers.

ARTICLE 3

REPURCHASES

          Section
3.01.
Company’s Right to Redeem. The Securities shall not be redeemable at
the option of the Company prior to its Stated Maturity. 

          Section
3.02.
Repurchase of Securities at Option of the Holder Upon a Fundamental Change. (a)
If a Fundamental Change occurs, each Holder shall have the right, at such
Holder’s option, to require the Company to repurchase for cash all of such
Holder’s Securities, or any portion thereof that is equal to or an integral
multiple of $1,000 principal amount, at a repurchase price equal to 100% of the
principal amount of those Securities, plus accrued and unpaid Interest and
accrued and unpaid Additional Amounts, if any, on those Securities (the “Fundamental
Change Repurchase Price”)
to, but not including, the date that is 20 Business Days following the date of
the notice of a Fundamental Change mailed by the Company pursuant to Section
3.02(b) (the “Fundamental Change Repurchase
Date”), subject to satisfaction by or on behalf of the Holder
of the requirements set forth in Section 3.02(c); provided, that if the
Fundamental Change Repurchase Date is on a date that is after an Interest
Record Date and on or prior to the corresponding Interest Payment Date, the
Fundamental Change Repurchase Price shall be 100% of the principal amount of
the Securities repurchased but shall not include accrued and unpaid Interest
and accrued and unpaid Additional Amounts, if any. Instead, the Company shall
pay such Interest and Additional Amounts, if any, on the Interest Payment Date
to the Holder of Record on the corresponding Interest Record Date.

          (b)
No later than 15 days after the occurrence of a Fundamental Change, the Company
shall mail a Company Notice of the Fundamental Change 

26

(substantially
in the form of Exhibit D) by first class mail to the Trustee and to each Holder
(and to beneficial owners if required by applicable law). The Company Notice
shall include a form of Fundamental Change Repurchase Notice to be completed by
the Holder and shall state:

	
 

	
 

	
 

	
          (i)
  briefly, the events causing a Fundamental Change and the date of such
  Fundamental Change;

	
 

	
 

	
 

	
          (ii)
  the date by which the Fundamental Change Repurchase Notice pursuant to this
  Section 3.02 must be delivered to the Paying Agent in order for a Holder to
  exercise the repurchase rights;

	
 

	
 

	
 

	
          (iii)
  the Fundamental Change Repurchase Date;

	
 

	
 

	
 

	
          (iv)
  the Fundamental Change Repurchase Price;

	
 

	
 

	
 

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

	
 

	
 

	
 

	
          (vi)
  the Conversion Rate;

	
 

	
 

	
 

	
          (vii)
  that the Securities as to which a Fundamental Change Repurchase Notice has
  been given may be converted if they are otherwise convertible pursuant to
  Article 10 hereof only if the Fundamental Change Repurchase Notice has been
  withdrawn in accordance with the terms of this Indenture; 

	
 

	
 

	
 

	
          (viii)
  that the Securities must be surrendered to the Paying Agent (by effecting
  book entry transfer of the Securities or delivering Certificated Securities,
  together with necessary endorsements, as the case may be) to collect payment;

	
 

	
 

	
 

	
          (ix)
  that the Fundamental Change Repurchase Price for any Security as to which a
  Fundamental Change Repurchase Notice has been duly given and not withdrawn
  shall be paid promptly following the later of the Business Day immediately
  following the Fundamental Change Repurchase Date and the time of surrender of
  such Security as described in clause (viii);

	
 

	
 

	
 

	
          (x)
  briefly, the procedures the Holder must follow to exercise rights under this
  Section 3.02;

	
 

	
 

	
 

	
          (xi)
  briefly, the conversion rights, if any, that exist on the Securities at the
  date of the Company Notice and as a result of such Fundamental Change;

27

	
 

	
 

	
 

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

	
 

	
 

	
 

	
          (xiii)
  that, unless the Company defaults in making payment of such Fundamental Change
  Repurchase Price on Securities for which a Fundamental Change Repurchase
  Notice is submitted, Interest and Additional Amounts, if any, on Securities
  surrendered for purchase by the Company shall cease to accrue from and after
  the Fundamental Change Repurchase Date; and

	
 

	
 

	
 

	
          (xiv)
  the CUSIP, “ISIN” or other similar number(s), as the case may be, of the
  Securities.

          At
the Company’s request, the Trustee shall give such Company Notice to each
Holder in the Company’s name and at the Company’s expense; provided, however,
that, in all cases, the text of such Company Notice shall be prepared by the
Company.

          (c)
A Holder may exercise its rights specified in this Section 3.02 upon delivery
of a written notice of repurchase (a “Fundamental Change Repurchase Notice”) to the Paying Agent at any time on or
prior to the close of business on the Fundamental Change Repurchase Date,
stating:

	
 

	
 

	
 

	
          (i)
  If Certificated Securities have been issued, the certificate number(s) of the
  Securities which the Holder shall deliver to be repurchased or, if
  Certificated Securities have not been issued, the Fundamental Change
  Repurchase Notice shall comply with the appropriate Depositary procedures for
  book-entry transfer;

	
 

	
 

	
 

	
          (ii)
  the portion of the principal amount of the Security which the Holder shall
  deliver to be repurchased, which portion must be $1,000 or an integral
  multiple of $1,000; and

	
 

	
 

	
 

	
          (iii)
  that such Security shall be repurchased pursuant to the terms and conditions
  specified in Section 4 of the Securities and in this Indenture.

          The
delivery of such Security (together with all necessary endorsements) to the
Paying Agent with the Fundamental Change Repurchase Notice at the offices of
the Paying Agent shall be a condition to the receipt by the Holder of the
Fundamental Change Repurchase Price therefor; provided, however, that such
Fundamental Change Repurchase Price shall be so paid pursuant to this Section
3.02 only if the Security (together with all necessary endorsements) so
delivered to the Paying Agent shall conform in all respects to the description
thereof set forth in the related Fundamental Change Repurchase Notice.

          The
Company shall repurchase from the Holder thereof, pursuant to this Section
3.02, a portion of a Security if the principal amount of such portion is 

28

$1,000 or an
integral multiple of $1,000. Provisions of this Indenture that apply to the
repurchase of all of a Security also apply to the repurchase of such portion of
such Security.

          Any
repurchase by the Company contemplated pursuant to the provisions of this
Section 3.02 shall be consummated by the delivery of the Fundamental Change
Repurchase Price promptly following the later of the Business Day following the
Fundamental Change Repurchase Date or the time of delivery of such Security
(together with all necessary endorsements or notifications of book-entry
transfer).

          Notwithstanding
the foregoing, Holders shall not have the right to require us to repurchase the
Securities upon a Change of Control described in clause (3) of the definition
thereof if more than 90% of the consideration in the transaction or
transactions constituting such Change of Control consists of shares of common
stock traded or to be traded immediately following such Change of Control on a
U.S. national securities exchange, and, as a result of such transaction or
transactions, the Securities become convertible into such common stock (and any
rights attached thereto) subject to the settlement provisions of Section 10.03.

          Notwithstanding
anything herein to the contrary, any Holder delivering to the Paying Agent the
Fundamental Change Repurchase Notice contemplated by this Section 3.02(c) shall
have the right to withdraw such Fundamental Change Repurchase Notice by
delivery of a written notice of withdrawal to the Paying Agent in accordance
with Section 3.03(b) at any time prior to the close of business on the
Fundamental Change Repurchase Date.

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

          Section
3.03.
Effect of Fundamental Change Repurchase Notice. (a) Upon receipt by
the Paying Agent of the Fundamental Change Repurchase Notice specified in
Section 3.02, the Holder of the Security in respect of which such Fundamental
Change Repurchase Notice was given shall (unless such Fundamental Change
Repurchase Notice is withdrawn as specified in Section 3.03(b)) thereafter be
entitled solely to receive the Fundamental Change Repurchase Price with respect
to such Security whether or not the Security is, in fact, properly delivered.
Such Fundamental Change Repurchase Price shall be paid to such Holder, subject
to receipt of funds and/or securities by the Paying Agent, promptly following
the later of (x) the Business Day following the Fundamental Change Repurchase
Date with respect to such Security (provided the conditions in Section 3.02
have been satisfied) and (y) the time of delivery of such Security to the
Paying Agent by the Holder thereof in the manner required by Section 3.02.
Securities in respect of which a Fundamental Change Repurchase Notice has been
given by the Holder thereof may not be converted pursuant to and to the extent
permitted by Article 10 hereof on or after the date of the delivery of such
Fundamental Change Repurchase 

29

Notice unless
such Fundamental Change Repurchase Notice has first been validly withdrawn as
specified in Section 3.03(b).

          (b)
A Fundamental Change Repurchase Notice may be withdrawn by means of a written
notice of withdrawal delivered to the office of the Paying Agent in accordance
with the Fundamental Change Repurchase Notice at any time, if received by the
Paying Agent prior to the close of business on the Fundamental Change
Repurchase Date specifying:

	
 

	
 

	
 

	
 

	
(1)

	
the
  principal amount, if any, of such Security which remains subject to the
  original Fundamental Change Repurchase Notice and which has been or shall be
  delivered for purchase by the Company,

	
 

	
 

	
 

	
 

	
(2)

	
if
  Certificated Securities have been issued, the certificate number, if any, of
  the Security in respect of which such notice of withdrawal is being submitted
  (or, if Certificated Securities have not been issued, that such withdrawal
  notice shall comply with the appropriate Depositary procedures), and

	
 

	
 

	
 

	
 

	
(3)

	
the
  principal amount of the Security with respect to which such notice of
  withdrawal is being submitted.

          Section
3.04.
Deposit of Fundamental Change Repurchase Price. Prior to 10:00 a.m.
(local time in The City of New York) on the Business Day following the
Fundamental Change Repurchase Date the Company shall deposit with the Paying
Agent (or, if the Company or a Subsidiary or an Affiliate of either of them is
acting as the Paying Agent, shall segregate and hold in trust as provided in
Section 2.04) an amount of cash in immediately available funds sufficient to
pay the aggregate Fundamental Change Repurchase Price of all the Securities or
portions thereof which are to be purchased as of the Fundamental Change
Repurchase Date.

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

          Section
3.06.
Covenant to Comply with Securities Laws upon Purchase of Securities. When
complying with the provisions of Section 3.02 hereof (provided that such offer
or purchase constitutes an “issuer tender offer” for purposes of Rule 13e-4
(which term, as used herein, includes any successor provision thereto) under
the Exchange Act at the time of such offer or purchase), and subject to any 

30

exemptions
available under applicable law, the Company shall (i) comply with Rule 13e-4
and Rule 14e-1 (or any successor provision) and any other applicable tender
offer rules under the Exchange Act, (ii) file the related Schedule TO (or any
successor schedule, form or report) under the Exchange Act, and (iii) otherwise
comply with all Federal and state securities laws so as to permit the rights
and obligations under Section 3.02 to be exercised in the time and in the
manner specified in Section 3.02.

          Section
3.07.
Repayment to the Company. The Trustee and the Paying Agent shall
return to the Company any cash that remains unclaimed as provided in Section 12
of the Securities, together with interest, if any, thereon (subject to the
provisions of Section 7.01(f)), held by them for the payment of the Fundamental
Change Repurchase Price. 

ARTICLE 4

COVENANTS

          Section
4.01.
Payment of Securities. The Company shall make all payments in
respect of the Securities on the dates and in the manner provided in the
Securities or pursuant to this Indenture. Any amounts of cash in immediately
available funds or shares of Common Stock to be given to the Trustee or Paying
Agent shall be deposited with the Trustee or Paying Agent by 10:00 a.m., New
York City time, by the Company. The principal amount of, and Interest and
Additional Amounts, if any, on the Securities, and the Fundamental Change
Repurchase Price shall be considered paid on the applicable date due if on such
date (which, in the case of a Fundamental Change Repurchase Price, shall be on
the Business Day immediately following the applicable Fundamental Change
Repurchase Date) the Trustee or the Paying Agent holds, in accordance with this
Indenture, cash or securities, if permitted hereunder, sufficient to pay all
such amounts then due.

          Section
4.02. SEC
and Other Reports. The Company shall deliver to the Trustee, within
15 days after it files such annual and quarterly reports, information,
documents and other reports with the SEC, copies of its annual report and of
the information, documents and other reports (or copies of such portions of any
of the foregoing as the SEC may by rules and regulations prescribe) which the
Company is required to file with the SEC pursuant to Section 13 or 15(d) of the
Exchange Act. The Company shall also comply with the other provisions of TIA
Section 314(a). Delivery of such reports, information and documents to the
Trustee is for informational purposes only and the Trustee’s receipt of such
shall not constitute constructive notice of any information contained therein
or determinable from information contained therein, including the Company’s
compliance with any of its covenants hereunder (as to which the Trustee is
entitled to rely exclusively on Officer’s Certificates).

31

          Section
4.03.
Compliance Certificate. The Company shall deliver to the Trustee
within 120 days after the end of each fiscal year of the Company (beginning
with the fiscal year ending December 29, 2007) an Officer’s Certificate, stating
whether or not to the knowledge of the signer thereof, the Company is in
default in the performance and observance of any of the terms, provisions and
conditions of this Indenture (without regard to any period of grace or
requirement of notice provided hereunder) and if the Company shall be in
default, specifying all such defaults and the nature and status thereof of
which such Officer may have knowledge and otherwise comply with Section
314(a)(4) of the TIA.

          The
Company shall, so long as any of the Securities are outstanding, deliver to the
Trustee, within 30 days of any executive officer of the Company becoming aware
of any Default or Event of Default, an Officer’s Certificate specifying such
Default or Event of Default and what action the Company is taking or proposes
to take with respect thereto.

          Section
4.04.
Further Instruments and Acts. The Company shall execute and deliver
such further instruments and do such further acts as may be reasonably
necessary or proper to carry out more effectively the purposes of this
Indenture.

          Section
4.05.
Maintenance of Office or Agency. The Company shall maintain in the
United States of America an office or agency of the Trustee, Registrar, Paying
Agent and Conversion Agent where Securities may be presented or surrendered for
payment, where Securities may be surrendered for registration of transfer,
exchange, purchase or conversion and where notices and demands to or upon the
Company in respect of the Securities and this Indenture may be served. The
Corporate Trust Office of the Trustee, as listed in Section 11.02, shall
initially be such office or agency for all of the aforesaid purposes. The
Company shall give prompt written notice to the Trustee of the location, and of
any change in the location, of any such office or agency (other than a change
in the location of the office of the Trustee). 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 address of the Trustee set forth in
Section 11.02.

          The
Company may also from time to time designate one or more other offices or
agencies where the Securities may be presented or surrendered for any or all
such purposes and may from time to time rescind such designations; provided,
however,
that no such designation or rescission shall in any manner relieve the Company
of its obligation to maintain an office or agency in the United States of
America for such purposes.

          Section
4.06.
Delivery of Certain Information. At any time when the Company is not
subject to Section 13 or 15(d) of the Exchange Act until such time as neither
the Securities nor any shares of Common Stock issued upon conversion of the
Securities are “restricted securities” within the meaning of Rule 144 of the 

32

Securities
Act, upon the request of a Holder or any beneficial owner of Securities or
Holder or beneficial owner of shares of Common Stock issued upon conversion
thereof, the Company shall promptly furnish or cause to be furnished Rule 144A
Information (as defined below) to such Holder or any beneficial owner of
Securities or Holder or beneficial owner of shares of Common Stock issued upon
conversion thereof, or to a prospective purchaser of any such security
designated by any such Holder or beneficial owner, as the case may be, to the
extent required to permit compliance by such Holder or beneficial owner with
Rule 144A in connection with the resale of any such security. “Rule 144A Information” shall be such
information as is specified pursuant to Rule 144A(d)(4) under the Securities
Act. Whether a person is a beneficial owner shall be determined by the Company
to the Company’s reasonable satisfaction.

          Section
4.07.
Additional Amounts Notice. In the event that the Company is required
to pay Additional Amounts to Holders of Securities pursuant to the Registration
Rights Agreement, the Company shall provide written notice (“Additional Amounts Notice”) to the Trustee
of its obligation to pay Additional Amounts prior to the required payment date
for the Additional Amounts, and the Additional Amounts Notice shall set forth
the amount of Additional Amounts to be paid by the Company on such payment
date. The Trustee shall not at any time be under any duty to any Holder of
Securities to determine the Additional Amounts, or with respect to the nature,
extent or calculation of the amount of Additional Amounts when made, or with
respect to the method employed in such calculation of the Additional Amounts.

ARTICLE 5

SUCCESSOR PERSON

          Section
5.01.
When Company May Merge or Transfer Assets. The Company shall not
consolidate with or merge with or into any other person or convey, transfer,
sell, lease or otherwise dispose of all or substantially all of its properties
and assets to any person, unless:

	
 

	
 

	
 

	
          (a)
  the resulting, surviving or transferee person (the “successor person”) will be
  a corporation or limited liability company (provided that the
  successor may be a limited liability company only if the Securities remain
  convertible into the common stock of a corporation) organized and existing
  under the laws of the United States of America, any State thereof or the
  District of Columbia and the successor person (if not the Company) will
  expressly assume, by indenture supplemental hereto, executed and delivered to
  the Trustee, in form reasonably satisfactory to the Trustee, all of the
  obligations of the Company under the Securities and this Indenture;

	
 

	
 

	
 

	
          (b)
  immediately after giving effect to such transaction (and treating any
  indebtedness which becomes an obligation of the successor 

33

	
 

	
 

	
 

	
person as a
  result of such transaction as having been incurred by such successor person
  as the time of such transaction), no Default or Event of Default shall have
  occurred and be continuing; and

	
 

	
 

	
 

	
          (c)
  the Company shall have delivered to the Trustee an Officer’s Certificate and
  an Opinion of Counsel, each stating that such consolidation, merger,
  conveyance, transfer, sale or lease and, if a supplemental indenture is
  required in connection with such transaction, such supplemental indenture,
  comply with this Article 5 and that all conditions precedent herein provided
  relating to such transaction have been satisfied.

          For
purposes of the foregoing, the transfer (by lease, assignment, sale or
otherwise) of the properties and assets of one or more Subsidiaries (other than
to the Company or another Subsidiary), which, if such assets were owned by the
Company, would constitute all or substantially all of the properties and assets
of the Company and its Subsidiaries, taken as a whole, shall be deemed to be
the transfer of all or substantially all of the properties and assets of the
Company.

          The
successor person formed by such consolidation or into which the Company is
merged or the successor person to which such conveyance, transfer, sale, lease
or other disposition is made shall succeed to, and be substituted for, and may
exercise every right and power of, the Company under this Indenture with the
same effect as if such successor had been named as the Company herein; and
thereafter, except in the case of a lease and obligations the Company may have
under a supplemental indenture, the Company shall be discharged from all
obligations and covenants under this Indenture and the Securities. Subject to
Section 9.06, the Company, the Trustee and the successor person shall enter
into a supplemental indenture to evidence the succession and substitution of
such successor person and such discharge and release of the Company.

ARTICLE 6

DEFAULTS AND REMEDIES

          Section
6.01.
Events of Default. So long as any Securities are outstanding, each
of the following shall be an “Event of Default”:

          (a)   following the exercise by the
Holder of the right to convert a Security in accordance with Article 10 hereof, the Company fails to comply with its obligations
to deliver the cash or shares of Common Stock, if any, required to be delivered as part of the applicable Conversion Settlement
Distribution on the applicable Conversion Settlement Date and such failure continues for a period of 5 days or more;

34

          (b)   the Company defaults in its
obligation to provide timely notice of a Fundamental Change to the Trustee and each Holder as required under
Section 3.02(b);

          (c)   the Company defaults in the
payment of the principal amount of any Security when due at maturity, upon repurchase or otherwise (including, without limitation,
upon the exercise by a Holder of its right to require the Company to repurchase such Securities pursuant to and in accordance with
Section 3.02 hereof);

          (d)   the Company defaults in the
payment of any Interest, including Additional Amounts, if any, when due and payable, and continuance of such default for a period
of 30 days past the applicable due date;

          (e)   the Company fails to perform or
observe any term, covenant or warranty or agreement in the Securities or this Indenture (other than those referred to in clause
(a) through clause (d) above) and such failure continues for 60 days after receipt by the Company of a Notice of
Default;

          (f)   the entry by a court having
jurisdiction in the premise of (i) a decree or order for relief in respect of the Company or any of its Significant Subsidiaries,
in an involuntary case or proceeding under any applicable bankruptcy, insolvency, reorganization or other similar law (any
“Bankruptcy Law”) or (ii) a decree or order adjudging the Company or any Significant Subsidiary, a bankrupt or
insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in
respect of the Company or any Significant Subsidiary, under any applicable Bankruptcy Law, or appointing a custodian, receiver,
liquidator, assignee, trustee, sequestrator or other similar official of the Company or any Significant Subsidiary or of any
substantial part of any of their property, or ordering the winding up or liquidation of its affairs, and the continuance of any
such decree or order for relief or any such other decree or order described in clause (i) or (ii) above is unstayed and in effect
for a period of 60 consecutive days; and

          (g)   (i) the commencement by the
Company or any Significant Subsidiary, of a voluntary case or proceeding under any applicable Bankruptcy Law or of any other case
or proceeding to be adjudicated a bankrupt or insolvent, or (ii) the consent by the Company or any Significant Subsidiary, to the
entry of a decree or order for relief in respect of the Company or any Significant Subsidiary, in an involuntary case or
proceeding under any applicable Bankruptcy Law or to the commencement of any bankruptcy or insolvency case or proceeding against
the Company or any Significant Subsidiary, or (iii) the filing by the Company or any Significant Subsidiary, of a petition or
answer or consent seeking reorganization or relief under any applicable Bankruptcy Law, or (iv) the consent by the Company or any
Significant Subsidiary to the filing of such petition or to the appointment of or the taking possession by a custodian, receiver,
liquidator, assignee, trustee, sequestrator or other similar official of the Company or any Significant Subsidiary 

35

or of any substantial part of any of their property, or (v) the making by the Company or any Significant
Subsidiary, of a general assignment for the benefit of creditors, or the admission by the Company or any Significant Subsidiary,
in writing of its inability to pay its debts generally as they become due.

          The foregoing 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.

          For the avoidance of doubt, clause (e) above shall not
constitute an Event of Default until the Trustee notifies the Company, or the Holders of at least 25% in aggregate principal
amount of the Securities at the time outstanding notify the Company and the Trustee, of such default and the Company does not cure
such default (and such default is not waived) within the time specified in clause (e) above (subject to the provisions of Section
6.01(h) below) after actual receipt of such notice. Any such notice must specify the default, demand that it be remedied and state
that such notice is a “Notice of Default.”

          (h)
Notwithstanding anything to the contrary in this Indenture, to the
extent elected by the Company in its sole discretion, the sole remedy for an
Event of Default described in clause (e) above relating to the failure to
comply with Section 4.02 hereof or the failure to comply with Section 314(a)(1)
of the TIA, if applicable, will for the first 90 days after the occurrence of
such an Event of Default consist exclusively of the right to receive additional
interest on the Securities at an annual rate equal to 0.25% of the principal
amount of the Securities (the “extension fee”). This extension fee will be
in addition to any Additional Amounts on the Securities that may accrue as a
result of a Registration Default (as defined in the Registration Rights
Agreement) and will be payable in the same manner as Additional Amounts
accruing on the Securities as a result of a Registration Default. The extension
fee will accrue on all outstanding Securities from and including the date on
which an Event of Default relating to the failure to comply with Section 4.02
hereof or the failure to comply with Section 314(a)(1) of the TIA first occurs
to, but not including, the 90th day thereafter (or such earlier date on which
the Event of Default relating to the failure to comply with Section 4.02 or the
failure to comply with Section 314(a)(1) of the TIA shall have been cured or
waived). On such 90th day (or earlier, if the Event of Default relating to the
failure to comply with Section 4.02 or the failure to comply with Section 314(a)(1)
of the TIA is cured or waived prior to such 90th day), such extension fee will
cease to accrue and, if the Event of Default relating to the failure to comply
with Section 4.02 or the failure to comply with Section 314(a)(1) of the TIA
has not been cured or waived prior to such 90th day, the Securities will be
subject to acceleration as provided in Section 6.02 hereof. The provisions of
this paragraph will not affect the rights of Holders of Securities in the event
of the occurrence of any other Event of Default and will have no effect on the
rights of Holders of Securities under the Registration Rights Agreement. In the
event the Company 

36

does not elect to pay the
extension fee upon an Event of Default relating to the failure to comply with
Section 4.02 or the failure to comply with Section 314(a)(1) of the TIA in
accordance with this paragraph, the Securities will be subject to acceleration
as provided in Section 6.02 hereof. To make such election, the Company must
give notice to the Trustee for Holders of the Securities prior to the day any
such Event of Default occurs.

          Section
6.02.
Acceleration. Subject to Section 6.01(h), if an Event of Default
(other than an Event of Default specified in Section 6.01(f) or Section 6.01(g)
with respect to the Company) occurs and is continuing (the Event of Default not
having been cured or waived), the Trustee by notice to the Company, or the
Holders of at least 25% in aggregate principal amount of the Securities at the
time outstanding by notice to the Company and the Trustee, may declare the
principal amount of the Securities and any accrued and unpaid Interest and any
accrued and unpaid Additional Amounts, if any, on all the Securities to be
immediately due and payable. Upon such a declaration, such accelerated amount
shall be due and payable immediately. If an Event of Default specified in
Section 6.01(f) or Section 6.01(g) with respect to the Company occurs and is
continuing, the principal amount of the Securities and any accrued and unpaid
Interest and any accrued and unpaid Additional Amounts, if any, on all the
Securities shall become and be immediately due and payable without any
declaration or other act on the part of the Trustee or any Securityholders. The
Holders of a majority in aggregate principal amount of the Securities at the
time outstanding, by notice to the Trustee (and without notice to any other
Securityholder) may rescind an acceleration and its consequences, and thereby
waive the Events of Default giving rise to such acceleration, if the rescission
would not conflict with any judgment or decree and if all existing Events of
Default have been cured or waived except nonpayment of the principal amount of
the Securities and any accrued and unpaid Interest and any accrued and unpaid
Additional Amounts, if any, that have become due solely as a result of
acceleration. No such rescission shall affect any subsequent Event of Default
or impair any right consequent thereto.

          Section
6.03.
Other Remedies. If an Event of Default occurs and is continuing, the
Trustee may pursue any available remedy to collect the payment of the principal
amount of the Securities and any accrued and unpaid Interest and accrued and
unpaid Additional Amounts, if any, on the Securities or to enforce the performance
of any provision of the Securities or this Indenture.

          The
Trustee may maintain a proceeding even if the Trustee does not possess any of
the Securities or does not produce any of the Securities in the proceeding. A
delay or omission by the Trustee or any Securityholder in exercising any right
or remedy accruing upon an Event of Default shall not impair the right or
remedy or constitute a waiver of, or acquiescence in, the Event of Default. No
remedy is exclusive of any other remedy. All available remedies are cumulative.

37

          Section
6.04.
Waiver of Past Defaults. The Holders of a majority in aggregate
principal amount of the Securities at the time outstanding, by notice to the
Trustee (and without notice to any other Securityholder), may waive any
existing or past Default and its consequences except (1) an Event of Default
described in clauses (a), (b), (c) and (d) of Section 6.01 or (2) an Event of
Default in respect of a provision that under Section 9.02 cannot be amended
without the consent of each Securityholder affected. When a Default is waived,
it is deemed cured, but no such waiver shall extend to any subsequent or other
Default or impair any consequent right. This Section 6.04 shall be in lieu of
Section 316(a)1(B) of the TIA and such Section 316(a)1(B) is hereby expressly
excluded from this Indenture, as permitted by the TIA.

          Section
6.05.
Control by Majority. The Holders of a majority in aggregate
principal amount of the Securities at the time outstanding may direct the time,
method and place of conducting any proceeding for any remedy available to the
Trustee or of exercising any trust or power conferred on the Trustee. However,
the Trustee may refuse to follow any direction that conflicts with law or this
Indenture or that the Trustee determines is unduly prejudicial to the rights of
other Securityholders or would involve the Trustee in personal liability; provided,
that the Trustee may take any other action deemed proper by the Trustee which
is not inconsistent with such direction or this Indenture. Prior to taking any
action under this Indenture, the Trustee may require indemnity satisfactory to
it in its sole discretion against all losses and expenses caused by taking or
not taking such action. 

          Section
6.06.
Limitation on Suits. A Securityholder may not pursue any remedy with
respect to this Indenture or the Securities, except in case of a Default due to
the non-payment of the principal amount of the Securities, any accrued and
unpaid Interest or any accrued and unpaid Additional Amounts, if any, unless:

	
 

	
 

	
 

	
 

	
(1)

	
the Holder
  gives to the Trustee written notice stating that a Default is continuing;

	
 

	
 

	
 

	
 

	
(2)

	
the Holders
  of at least 25% in aggregate principal amount of the Securities at the time
  outstanding make a written request to the Trustee to pursue the remedy;

	
 

	
 

	
 

	
 

	
(3)

	
the Trustee
  does not comply with the request within 60 days after receipt of such notice
  and offer of security or indemnity; and 

	
 

	
 

	
 

	
 

	
(4)

	
the Holders
  of a majority in aggregate principal amount of the Securities at the time
  outstanding do not give the Trustee a direction inconsistent with the request
  during such 60-day period.

          A
Securityholder may not use this Indenture to prejudice the rights of any other
Securityholder or to obtain a preference or priority over any other
Securityholder.

38

          Section
6.07.
Rights of Holders to Receive Payment. Notwithstanding any other
provision of this Indenture, the right of any Holder to receive payment of the
principal amount of the Securities and any accrued and unpaid Interest and any
accrued and unpaid Additional Amounts, if any, in respect of the Securities
held by such Holder, on or after the respective due dates expressed in the
Securities or any Fundamental Change Repurchase Date, and to convert the
Securities in accordance with Article 10, or to bring suit for the enforcement
of any such payment or the right to convert on or after such respective dates,
shall not be impaired or affected adversely without the consent of such Holder.

          Section
6.08.
Collection Suit by Trustee. If an Event of Default described in
Section 6.01 clauses (a) through (d) (other than (b)) occurs and is continuing,
the Trustee may recover judgment in its own name and as trustee of an express trust
against the Company for the whole amount owing with respect to the Securities
and the amounts provided for in Section 7.07.

          Section
6.09.
Trustee May File Proofs of Claim. In case of the pendency of any
receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement,
adjustment, composition or other judicial proceeding relative to the Company or
any other obligor upon the Securities or the property of the Company or of such
other obligor or their creditors, the Trustee (irrespective of whether the
principal amount of the Securities and any accrued and unpaid Interest and
accrued and unpaid Additional Amounts, if any, in respect of the Securities
shall then be due and payable as therein expressed or by declaration or
otherwise and irrespective of whether the Trustee shall have made any demand on
the Company for the payment of any such amount) shall be entitled and
empowered, by intervention in such proceeding or otherwise:

	
 

	
 

	
 

	
          (a)
  to file and prove a claim for the whole principal amount of the Securities
  and any accrued and unpaid Interest and any accrued and unpaid Additional
  Amounts, if any, 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 the reasonable compensation, expenses, disbursements and advances
  of the Trustee, its agents and counsel or any other amounts due the Trustee
  under Section 7.07) and of the Holders allowed in such judicial proceeding,
  and

	
 

	
 

	
 

	
          (b)
  to collect and receive any moneys or other property payable or deliverable on
  any such claims and to distribute the same; and any custodian, receiver,
  assignee, trustee, liquidator, sequestrator or similar official in any such
  judicial proceeding is hereby authorized by each Holder to make such payments
  to the Trustee and, in the event that the Trustee shall consent to the making
  of such payments directly to the Holders, to pay the Trustee any amount due
  it for the reasonable compensation, expenses, disbursements and advances of
  the Trustee, its agents and counsel, and any other amounts due the Trustee
  under Section 7.07.

39

          Nothing
herein contained shall be deemed to authorize the Trustee to authorize or
consent to or accept or adopt on behalf of any Holder any plan of
reorganization, arrangement, adjustment or composition affecting the Securities
or the rights of any Holder thereof, or to authorize the Trustee to vote in
respect of the claim of any Holder in any such proceeding.

          The
Company agrees not to object to the Trustee participating as a member of any
official committee of creditors of the Company as it deems necessary or
advisable.

          Section
6.10.
Priorities. Any money collected by the Trustee pursuant to this
Article 6, and, after an Event of Default, any money or other property
distributable in respect of the Company’s obligations under this Indenture,
shall be paid out in the following order:

	
 

	
 

	
 

	
          FIRST:
  to the Trustee (including any predecessor Trustee) for amounts due under
  Section 7.07;

	
 

	
 

	
 

	
          SECOND:
  to Securityholders for amounts due and unpaid on the Securities for the
  principal amount of the Securities and any accrued and unpaid Interest and
  any accrued and unpaid Additional Amounts, if any, as the case may be,
  ratably, without preference or priority of any kind, according to such
  amounts due and payable on the Securities; and

	
 

	
 

	
 

	
          THIRD:
  the balance, if any, to the Company.

          The
Trustee may fix a record date and payment date for any payment to
Securityholders pursuant to this Section 6.10. At least 15 days before such
record date, the Trustee shall mail to each Securityholder and the Company a
notice that states the record date, the payment date and the amount to be paid.

          Section
6.11.
Undertaking for Costs. In any suit for the enforcement of any right
or remedy under this Indenture or in any suit against the Trustee for any
action taken or omitted by it as Trustee, a court in its discretion may require
the filing by any party litigant (other than the Trustee) in the suit of an
undertaking to pay the costs of the suit, and the court in its discretion may
assess reasonable costs, including reasonable attorneys’ fees and expenses,
against any party litigant in the suit, having due regard to the merits and
good faith of the claims or defenses made by the party litigant. This Section
6.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant to
Section 6.07 or a suit by Holders of more than 10% in aggregate principal
amount of the Securities at the time outstanding. This Section 6.11 shall be in
lieu of Section 315(e) of the TIA and such Section 315(e) is hereby expressly
excluded from this Indenture, as permitted by the TIA.

          Section
6.12.
Waiver of Stay, Extension or Usury Laws. The Company covenants (to
the extent that it may lawfully do so) that it shall not at any time insist
upon, or plead, or in any manner whatsoever claim or take the benefit or 

40

advantage of,
any stay or extension law or any usury or other law wherever enacted, now or at
any time hereafter in force, which would prohibit or forgive the Company from
paying all or any portion of the principal amount of the Securities and any
accrued and unpaid Interest and any accrued and unpaid Additional Amounts, if
any, on Securities, as contemplated herein, or which may affect the covenants
or the performance of this Indenture; and the Company (to the extent that it
may lawfully do so) hereby expressly waives all benefit or advantage of any such
law, and covenants that it shall not hinder, delay or impede the execution of
any power herein granted to the Trustee, but shall suffer and permit the
execution of every such power as though no such law had been enacted.

ARTICLE 7

TRUSTEE

          Section
7.01.
Duties of Trustee.

          (a)
If an Event of Default has occurred and is continuing, 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 person would
exercise or use under the circumstances in the conduct of such person’s own
affairs.

          (b)
Except during the continuance of an Event of Default:

	
 

	
 

	
 

	
 

	
(1)

	
the Trustee
  need perform only those duties that are specifically set forth in this
  Indenture and no others, and no implied duties shall be read into this
  Indenture against the Trustee; and

	
 

	
 

	
 

	
 

	
(2)

	
in the
  absence of bad faith on its part, the Trustee may conclusively rely, as to
  the truth of the statements and the correctness of the opinions expressed
  therein, upon 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 such certificates and opinions to determine whether or not they
  conform to the requirements of this Indenture, but need not confirm or
  investigate the accuracy of mathematical calculations or other facts stated
  therein. This Section 7.01(b) shall be in lieu of Section 315(a) of the TIA
  and such Section 315(a) is hereby expressly excluded from this Indenture, as
  permitted by the TIA.

          (c)
The Trustee may not be relieved from liability for its own negligent action,
its own negligent failure to act or its own willful misconduct, except that:

41

	
 

	
 

	
 

	
 

	
(1)

	
this Section
  7.01(c) does not limit the effect of Sections 7.01(b) and 7.01(g);

	
 

	
 

	
 

	
 

	
(2)

	
the Trustee
  shall not be liable for any error of judgment made in good faith by a
  Responsible Officer unless it is proved that the Trustee was negligent in
  ascertaining the pertinent facts; and

	
 

	
 

	
 

	
 

	
(3)

	
the Trustee
  shall not be liable with respect to any action it takes or omits to take in
  good faith in accordance with a direction received by it pursuant to Section
  6.05.

          Subparagraphs
(c)(1), (2) and (3) shall be in lieu of Sections 315(d)(1), 315(d)(2) and
315(d)(3) of the TIA and such Sections 315(d)(1), 315(d)(2) and 315(d)(3) are
hereby expressly excluded from this Indenture, as permitted by the TIA.

          (d)
Every provision of this Indenture that in any way relates to the Trustee is
subject to this Section 7.01.

          (e)
The Trustee may refuse to perform any duty or exercise any right or power
unless it receives indemnity satisfactory to it against any loss, liability or
expense.

          (f)
Money held by the Trustee in trust hereunder need not be segregated from other
funds except to the extent required by law. The Trustee (acting in any capacity
hereunder) shall be under no liability for interest on any money received by it
hereunder unless otherwise agreed in writing with the Company (provided that
any interest earned on money held by the Trustee in trust hereunder shall be
the property of the Company).

          (g)
No provision of this Indenture shall require the Trustee to expend or risk its
own funds or otherwise incur any financial liability in the performance of any
of its duties hereunder, or in the exercise of any of its rights or powers, if
it shall have reasonable grounds for believing that repayment of such funds or
adequate indemnity against such risk or liability is not reasonably assured to
it.

          Section
7.02.
Rights of Trustee. Subject to the provisions of Section 7.01:

	
 

	
 

	
 

	
          (a)
  the Trustee may conclusively 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, other evidence of indebtedness or other paper or document
  (whether in original or facsimile form) believed by it to be genuine and to
  have been signed or presented by the proper party or parties;

	
 

	
 

	
 

	
          (b)
  whenever in the administration of this Indenture the Trustee shall deem it
  desirable that a matter be proved or established prior to taking, 

42

	
 

	
 

	
 

	
suffering or
  omitting any action hereunder, the Trustee (unless other evidence be herein
  specifically prescribed) may, in the absence of bad faith on its part,
  conclusively rely upon an Officer’s Certificate;

	
 

	
 

	
 

	
          (c)
  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 with due care by it hereunder;

	
 

	
 

	
 

	
          (d)
  the Trustee shall not be liable for any action taken, suffered, or omitted to
  be taken by it in good faith which it believes to be authorized or within its
  rights or powers conferred under this Indenture;

	
 

	
 

	
 

	
          (e)
  the Trustee may consult with counsel selected by it and any advice or 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;

	
 

	
 

	
 

	
          (f)
  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, pursuant to the provisions of this Indenture, unless such
  Holders shall have offered to the Trustee security or indemnity satisfactory
  to it against the costs, expenses and liabilities which may be incurred
  therein or thereby;

	
 

	
 

	
 

	
          (g)
  any request or direction of the Company mentioned herein shall be
  sufficiently evidenced by a Company Request or Company Order and any
  resolution of the Board of Directors may be sufficiently evidenced by a Board
  Resolution;

	
 

	
 

	
 

	
          (h)
  the Trustee shall not be bound to make any investigation into the facts or
  matters stated in any resolution, certificate, statement, instrument,
  opinion, report, notice, request, direction, consent, order, bond, debenture,
  note, other evidence of indebtedness or other paper or document, but the
  Trustee, in its discretion, may make such further inquiry or investigation
  into such facts or matters as it may see fit, and, if the Trustee shall
  determine to make such further inquiry or investigation, it shall be entitled
  to, during regular business hours, examine the books, records and premises of
  the Company, personally or by agent or attorney at the sole cost of the
  Company and shall incur no liability or additional liability of any kind by
  reason of such inquiry or investigation;

	
 

	
 

	
 

	
          (i)
  Except with respect to Section 4.01, the Trustee shall have no duty to
  inquire as to the performance of the Company with respect to the covenants
  contained in Article 4. In addition, the Trustee shall not be 

43

	
 

	
 

	
 

	
deemed to have knowledge of an Event of Default except (i) any Default or Event of Default occurring pursuant to
Section 6.01(a), 6.01(c) or 6.01(d) or (ii) any Default or Event of Default of which the Trustee shall have received written
notification or obtained actual knowledge;

	
 

	
 

	
 

	
          (j)
  the rights, privileges, protections, immunities and benefits given to the
  Trustee, including, without limitation, its right to be indemnified, are
  extended to, and shall be enforceable by, the Trustee in each of its
  capacities hereunder, and to each agent, custodian and other person employed
  to act hereunder;

	
 

	
 

	
 

	
          (k)
  the Trustee may request that the Company deliver an Officer’s Certificate
  setting forth the names of individuals and/or titles of officers authorized
  at such time to take specified actions pursuant to this Indenture, which
  Officer’s Certificate may be signed by any person authorized to sign an
  Officer’s Certificate, including any person specified as so authorized in any
  such certificate previously delivered and not superseded; and

	
 

	
 

	
 

	
          (l)
  the permissive rights of the Trustee to take certain actions under this
  Indenture shall not be construed as a duty unless so specified herein. 

          Section
7.03.
Individual Rights of Trustee. The Trustee in its individual or any
other capacity may become the owner or pledgee of Securities and may otherwise
deal with the Company or its Affiliates with the same rights it would have if
it were not Trustee. Any Paying Agent, Registrar, Conversion Agent or
co-registrar may do the same with like rights. However, the Trustee must comply
with Section 7.10 and Section 7.11.

          Section
7.04.
Trustee’s Disclaimer. The Trustee makes no representation as to, and
shall have no responsibility for, the validity or adequacy of this Indenture or
the Securities, it shall not be accountable for the Company’s use or
application by the Company of the Securities or of the proceeds from the
Securities, it shall not be responsible for the correctness of any statement in
the registration statement for the Securities under the Securities Act or in
any offering document for the Securities, the Indenture or the Securities
(other than its certificate of authentication), or the determination as to
which beneficial owners are entitled to receive any notices hereunder.

          Section
7.05.
Notice of Defaults. If a Default or Event of Default occurs and if
it is known to the Trustee, the Trustee shall give to each Securityholder
notice of the Default or Event of Default within 90 days after it occurs or, if
later, within 15 days after it is known to the Trustee, unless such Default or
Event of Default shall have been cured or waived before the giving of such
notice. Notwithstanding the preceding sentence, except in the case of a Default
or Event of Default described in clauses (c) and (d) of Section 6.01, the
Trustee may withhold 

44

the notice if
and so long as a committee of its Responsible Officers in good faith determines
that withholding the notice is in the interest of the Securityholders. The
preceding sentence shall be in lieu of the proviso to Section 315(b) of the TIA
and such proviso is hereby expressly excluded from this Indenture, as permitted
by the TIA. The Trustee shall not be deemed to have knowledge of a Default or
Event of Default unless a Responsible Officer of the Trustee has received
written notice of such Default or Event of Default, which notice specifically
references this Indenture and the Securities.

          Section
7.06. Reports by Trustee to Holders. Within
60 days after each December 31 beginning with May 15, 2008, the Trustee shall
mail to each Securityholder a brief report dated as of such December 31 that
complies with TIA Section 313(a), if required by such Section 313(a). The
Trustee also shall comply with TIA Section 313(b). Any reports required by this
Section 7.06 shall be transmitted by mail to Securityholders pursuant to TIA
Section 313(c).

          A
copy of each report at the time of its mailing to Securityholders shall be
filed with the SEC and each securities exchange, if any, on which the
Securities are listed. The Company agrees to notify the Trustee promptly
whenever the Securities become listed on any securities exchange and of any
delisting thereof.

	
 

	
 

	
 

	
Section
  7.07. Compensation and Indemnity. The
  Company agrees:

	
 

	
 

	
 

	
          (a)
  to pay to the Trustee from time to time such compensation as the Company and
  the Trustee shall from time to time agree in writing for all services
  rendered by it hereunder (which compensation shall not be limited (to the
  extent permitted by law) by any provision of law in regard to the
  compensation of a trustee of an express trust);

	
 

	
 

	
 

	
          (b)
  to reimburse the Trustee upon its request for all reasonable expenses,
  disbursements and advances incurred or made by the Trustee in accordance with
  any provision of this Indenture (including the reasonable compensation and
  the expenses, advances and disbursements of its agents and counsel), except
  any such expense, disbursement or advance as may be attributable to its own
  negligence, willful misconduct or bad faith; and

	
 

	
 

	
 

	
          (c)
  to indemnify the Trustee or any predecessor Trustee and their agents for, and
  to hold them harmless against, any loss, damage, claim, liability, cost or
  expense (including reasonable attorney’s fees and expenses, and taxes (other
  than taxes based upon, measured by or determined by the income of the
  Trustee)) incurred without negligence, willful misconduct or bad faith on its
  part, arising out of or in connection with the acceptance or administration
  of this trust, including the costs and expenses of defending itself against
  any claim (whether asserted by the Company or any Holder or any other person)
  or liability in connection with the exercise or performance of any of its
  powers or duties hereunder.

45

          To
secure the Company’s payment obligations in this Section 7.07, the Trustee
shall have a lien prior to the Securities on all money or property held or
collected by the Trustee, except that held in trust to pay the principal amount
of, or the Fundamental Change Repurchase Price, Interest or Additional Amounts,
if any, as the case may be, on particular Securities.

          The
Company’s payment, reimbursement and indemnity obligations pursuant to this
Section 7.07 shall survive the satisfaction and discharge of this Indenture,
the resignation or removal of the Trustee and the termination of this Indenture
for any reason. In addition to and without prejudice to its rights hereunder,
when the Trustee incurs expenses or renders services in connection with an
Event of Default specified in Section 6.01(f) or Section 6.01(g), the expenses,
including the reasonable charges and expenses of its counsel and the
compensation for services payable pursuant to Section 7.07(a), are intended to
constitute expenses of administration under any applicable federal or state
bankruptcy, insolvency or similar laws.

          For
the purposes of this Section 7.07, the “Trustee” shall include any predecessor
Trustee; provided, however, that except as may be otherwise agreed among the
parties, the negligence, willful misconduct or bad faith of any Trustee
hereunder shall not affect the rights of any other Trustee hereunder.

          Section
7.08. Replacement of Trustee. The
Trustee may resign at any time by so notifying the Company; provided, however, no such resignation
shall be effective until a successor Trustee has accepted its appointment
pursuant to this Section 7.08. The Holders of a majority in aggregate principal
amount of the Securities at the time outstanding may remove the Trustee by so
notifying the Trustee and the Company in writing. The Company shall remove the
Trustee if:

	
 

	
 

	
 

	
 

	
(1)

	
the Trustee
  fails to comply with Section 7.10;

	
 

	
 

	
 

	
 

	
(2)

	
the Trustee
  is adjudged bankrupt or insolvent;

	
 

	
 

	
 

	
 

	
(3)

	
a receiver
  or public officer takes charge of the Trustee or its property; or

	
 

	
 

	
 

	
 

	
(4)

	
the Trustee
  otherwise becomes incapable of acting.

          If
the Trustee resigns or is removed or if a vacancy exists in the office of
Trustee for any reason, the Company shall promptly appoint, by resolution of
its Board of Directors, a successor Trustee.

          A
successor Trustee shall deliver a written acceptance of its appointment to the
retiring Trustee and to the Company satisfactory in form and substance to the
retiring Trustee and 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

46

Trustee shall
mail a notice of its succession to Securityholders. 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 7.07.

          If
a successor Trustee does not take office within 30 days after the retiring
Trustee resigns or is removed, the retiring Trustee, the Company or the Holders
of a majority in aggregate principal amount of the Securities at the time
outstanding may petition any court of competent jurisdiction at the expense of
the Company for the appointment of a successor Trustee.

          If
the Trustee fails to comply with Section 7.10, any Securityholder may petition
any court of competent jurisdiction for the removal of the Trustee and the
appointment of a successor Trustee.

          So
long as no Default or Event of Default shall have occurred and be continuing,
if the Company shall have delivered to the Trustee (i) a Board Resolution
appointing a successor Trustee, effective as of a date at least 30 days after
delivery of such Resolution to the Trustee, and (ii) an instrument of acceptance
of such appointment, effective as of such date, by such successor Trustee in
accordance with this Indenture, the Trustee shall be deemed to have resigned as
contemplated in this Section 7.08, the successor Trustee shall be deemed to
have been accepted as contemplated in this Indenture, all as of such date, and
all other provisions of this Indenture shall be applicable to such resignation,
appointment and acceptance.

          Section
7.09. Successor Trustee by Merger. If
the Trustee consolidates with, merges or converts into, or transfers all or
substantially all its corporate trust business or assets to, another person,
the resulting, surviving or transferee person without any further act shall be
the successor Trustee, subject to Section 7.10 and 7.11.

          Section
7.10. Eligibility; Disqualification. The
Trustee shall at all times satisfy the requirements of TIA Sections 310(a)(1)
and 310(b). The Trustee (or any parent holding company) 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. Nothing herein contained shall prevent
the Trustee from filing with the Commission the application referred to in the
penultimate paragraph of TIA Section 310(b).

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

47

ARTICLE 8

DISCHARGE OF INDENTURE

          Section
8.01. Discharge of Liability on Securities. When
(i) the Company causes to be delivered to the Trustee all outstanding
Securities (other than Securities replaced or repaid pursuant to Section 2.07)
for cancellation or (ii) all outstanding Securities have become due and payable
and the Company deposits with the Trustee cash sufficient to pay all amounts
due and owing on all outstanding Securities (other than Securities replaced
pursuant to Section 2.07), and if in either case the Company pays all other
sums payable hereunder by the Company, then this Indenture shall, subject to
Section 7.07, cease to be of further effect. The Trustee shall join in the
execution of a document prepared by the Company acknowledging satisfaction and
discharge of this Indenture on demand of the Company accompanied by an
Officer’s Certificate and Opinion of Counsel and at the cost and expense of the
Company.

          Section
8.02. Repayment to the Company. The
Trustee and the Paying Agent shall return to the Company upon written request
any money or securities held by them for the payment of any amount with respect
to the Securities that remains unclaimed for two years, subject to applicable
abandoned property law. After return to the Company, Holders entitled to the
money or securities must look to the Company for payment as general creditors
unless an applicable abandoned property law designates another person and the
Trustee and the Paying Agent shall have no further liability to the
Securityholders with respect to such money or securities for that period
commencing after the return thereof.

          Section
8.03. Application of Trust Money. The
Trustee shall hold in trust all money and other consideration deposited with it
pursuant to Section 8.01 and shall apply such deposited money and other
consideration through the Paying Agent and in accordance with this Indenture to
the payment of amounts due on the Securities. Money and other consideration so
held in trust is subject to the Trustee’s rights under Section 7.07.

ARTICLE 9

AMENDMENTS

          Section
9.01. Without Consent of Holders. The
Company and the Trustee may modify or amend this Indenture or the Securities
without the consent of any Securityholder to:

	
 

	
 

	
 

	
          (a)
  add guarantees with respect to the Securities or secure the Securities;

48

	
 

	
 

	
 

	
          (b)
  remove any guarantee added to the Securities pursuant to clause (a) above,
  unless such guarantee is required pursuant to Section 5.01(a);

	
 

	
 

	
 

	
          (c)
  conform, as necessary, this Indenture and the Securities to the “Description
  of the Debentures” as set forth in the Offering Memorandum;

	
 

	
 

	
 

	
          (d)
  add to the covenants of the Company or Events of Default for the benefit of
  the Holders of Securities;

	
 

	
 

	
 

	
          (e)
  surrender any right or power herein conferred upon the Company;

	
 

	
 

	
 

	
          (f)
  provide for conversion rights of Holders of Securities if any
  reclassification or change of the Common Stock or any consolidation, merger
  or sale of all or substantially all of the Company’s assets occurs;

	
 

	
 

	
 

	
          (g)
  provide for the assumption by a successor person (including in connection
  with any Public Acquirer Change of Control, if applicable) of the Company’s
  obligations to the Holders of Securities in the case of a merger,
  consolidation, conveyance, transfer, sale or lease pursuant to Article 5,
  Section 10.05 or Section 10.01(d) (in the case of a Public Acquirer Change of
  Control) hereof;

	
 

	
 

	
 

	
          (h)
  change the Conversion Rate in accordance with this Indenture; provided, however, that any increase in the Conversion
Rate other
  than pursuant to Article 10 shall not adversely affect the interests of the
  Holders of Securities (after taking into account U.S. federal income tax and
  other consequences of such increase);

	
 

	
 

	
 

	
          (i)
  give effect to the election, if any, by the Company described in Section
  10.01(d) upon the occurrence of a Public Acquirer Change of Control;

	
 

	
 

	
 

	
          (j)
  comply with the requirements of the SEC in order to effect or maintain the
  qualification of this Indenture under the TIA;

	
 

	
 

	
 

	
          (k)
  cure any ambiguity or to correct or supplement any provision herein which may
  be inconsistent with any other provision herein or which is otherwise
  defective; provided, however, that any such change or
  modification does not, in the good faith opinion of the Board of Directors of
  the Company (as evidenced by a Board Resolution) and the Trustee, adversely
  affect the interests of the Holders of Securities in any material respect;

49

	
 

	
 

	
 

	
          (l)
  make other changes to this Indenture or forms or terms of the Securities so
  long as no such change individually or in the aggregate with all other such
  changes has or will have a material adverse effect on the interests of the
  Holders of the Securities;

	
 

	
 

	
 

	
          (m)
  establish the form of Securities if issued in definitive form (substantially
  in the form of Exhibit B); or

	
 

	
 

	
 

	
          (n)
  evidence and provide for the acceptance of the appointment under this
  Indenture of a successor Trustee in accordance with the terms of this
  Indenture.

          Section
9.02. With Consent of Holders. Except
as provided below in this Section 9.02 and in Section 9.01, this Indenture or
the Securities may be amended, modified or supplemented, and noncompliance in
any particular instance with any provision of this Indenture or the Securities
may be waived, in each case with the written consent of the Holders of at least
a majority of the principal amount of the Securities at the time outstanding.

          Without
the written consent or the affirmative vote of each Holder of Securities
affected thereby, an amendment, supplement or waiver under this Section 9.02
may not:

	
 

	
 

	
 

	
          (a)
  reduce the principal amount of or change the Stated Maturity of any Security;

	
 

	
 

	
 

	
          (b)
  reduce the Fundamental Change Repurchase Price or change the time at which or
  circumstances under which the Securities may or shall be repurchased;

	
 

	
 

	
 

	
          (c)
  change the currency in which any Security or Interest, including Additional
  Amounts, if any, thereon, or the Fundamental Change Repurchase Price thereof
  is payable;

	
 

	
 

	
 

	
          (d)
  alter the manner of calculation of, reduce the rate of accrual for, or extend
  the time for payment of Interest, including Additional Amounts, if any, or
  the Fundamental Change Repurchase Price on any Security;

	
 

	
 

	
 

	
          (e)
  impair the right of any Holder to institute suit for the enforcement of any
  payment on or with respect to, or conversion of, any Security;

	
 

	
 

	
 

	
          (f)
  adversely affect the repurchase option of the Holders of the Securities as
  provided in Article 3 or the right of the Holders of the Securities to
  convert any Security as provided in Article 10 or reduce the

50

	
 

	
 

	
 

	
amount of
  cash or other consideration due upon conversion, except as otherwise
  permitted pursuant to Article 5 or Section 10.05 hereof;

	
 

	
 

	
 

	
          (g)
  modify the redemption provisions of Article 3 in a manner adverse to the
  Holders of the Securities;

	
 

	
 

	
 

	
          (h)
  change the Company’s obligation to maintain an office or agency in the places
  and for the purposes specified in this Indenture;

	
 

	
 

	
 

	
          (i)
  amend or modify any of the provisions of this Section, or reduce the
  percentage of the aggregate principal amount of outstanding Securities
  required to amend, modify or supplement the Indenture or the Securities or
  waive an Event of Default, except to provide that certain other provisions of
  this Indenture cannot be modified or waived without the consent of the Holder
  of each outstanding Security affected thereby; or

	
 

	
 

	
 

	
          (j)
  reduce the percentage of the aggregate principal amount of the outstanding
  Securities the consent of whose Holders is required for any such supplemental
  indenture entered into in accordance with this Section 9.02 or the consent of
  whose Holders is required for any waiver provided for in this 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 amendment, but it shall be
sufficient if such consent approves the substance thereof.

          After
an amendment under this Section 9.02 becomes effective, the Company shall mail
to each Holder a notice briefly describing the amendment.

          Section
9.03. Compliance With Trust Indenture Act. Every
supplemental indenture executed pursuant to this Article shall comply with the
TIA as then in effect.

          Section
9.04. Revocation and Effect of Consents,
Waivers and Actions. Until an amendment, waiver or other action by
Holders becomes effective, a consent thereto by a Holder of a Security
hereunder is a continuing consent by the Holder and every subsequent Holder of
that Security or portion of the Security that evidences the same obligation as
the consenting Holder’s Security, even if notation of the consent, waiver or
action is not made on the Security. However, any such Holder or subsequent
Holder may revoke the consent, waiver or action as to such Holder’s Security or
portion of the Security if the Trustee receives the notice of revocation before
the date the amendment, waiver or action becomes effective. After an amendment,
waiver or action becomes effective, it shall bind every Securityholder.

          Section
9.05. Notice of Amendments, Notation on or
Exchange of Securities. Securities authenticated and delivered after
the execution of any

51

supplemental
indenture pursuant to this Article 9 may, and shall if required by the Company,
bear a notation in form approved by the Company as to any matter provided for
in such supplemental indenture. If the Company shall so determine, new
Securities so modified as to conform, in the opinion of the Trustee and the
Board of Directors, to any such supplemental indenture may be prepared and
executed by the Company and authenticated and delivered by the Trustee in
exchange for outstanding Securities.

          Section
9.06. Trustee to Sign Supplemental
Indentures. The Trustee shall sign any supplemental indenture
authorized pursuant to this Article 9 if the amendment contained therein does
not affect the rights, duties, liabilities or immunities of the Trustee. If it
does, the Trustee may, but need not, sign such supplemental indenture. In
signing such supplemental indenture the Trustee shall receive, and (subject to
the provisions of Section 7.01) shall be fully protected in relying upon, an
Officer’s Certificate and an Opinion of Counsel stating that such amendment is
authorized or permitted by this Indenture.

          Section
9.07. Effect of Supplemental Indentures. Upon
the execution of any supplemental indenture under this Article, this Indenture
shall be modified in accordance therewith, and such supplemental indenture
shall form a part of this Indenture for all purposes; and every Holder of
Securities theretofore or thereafter authenticated and delivered hereunder
shall be bound thereby.

ARTICLE 10

CONVERSIONS

          Section
10.01. Conversion Privilege. (a)
Subject to and upon compliance with the provisions of this Article 10, a Holder
of a Security shall have the right, at such Holder’s option, to convert all or
any portion (if the portion to be converted is $1,000 principal amount or an
integral multiple thereof) of such Security prior to the close of business on
the Business Day immediately preceding Stated Maturity into cash and shares of
Common Stock, if any, at the Conversion Rate (the “Conversion Obligation”) in effect on the date of conversion
only as follows:

	
 

	
 

	
 

	
     (1)
  during any fiscal quarter of the Company (a “Fiscal Quarter”) commencing after June 30, 2007 (and only
  during such Fiscal Quarter), if the Last Reported Sale Price of the Common
  Stock for at least 20 Trading Days during the period of 30 consecutive
  Trading Days ending on the last Trading Day of the immediately preceding
  Fiscal Quarter is more than 130% of the Conversion Price in effect on such
  last Trading Day;

	
 

	
 

	
 

	
     (2)
  during the five Business Days immediately following any five consecutive
  Trading Day period (the “Measurement Period”)
  in which the Trading Price per $1,000 original principal amount of the

52

	
 

	
 

	
 

	
Securities
  for each day of such Measurement Period was less than 98% of the product of
  the Last Reported Sale Price of the Common Stock and the Conversion Rate on
  each such day. The Conversion Agent will, on the Company’s behalf, determine
  if the Securities are convertible as a result of the Trading Price of the
  Securities and notify the Company and the Trustee; provided, that the Conversion Agent shall have no
  obligation to determine the Trading Price of the Securities unless the
  Company has requested such determination and the Company shall have no
  obligation to make such request unless requested to do so by a Holder of the
  Security. Upon making any such request, any such requesting Holder shall
  provide reasonable evidence that (A) such requesting Holder is a Holder of
  the Security as of the date of such notice, and (B) the Trading Price per
  $1,000 principal amount of Securities would be less than 98% of the product
  of the Last Reported Sale Price of the Common Stock and the Conversion Rate.
  At such time, the Company shall instruct the Conversion Agent to determine
  the Trading Price of the Securities beginning on the next Trading Day and on
  each successive Trading Day until the Trading Price per $1,000 original
  principal amount of the Securities is greater than or equal to 98% of the
  product of the Last Reported Sale Price of the Common Stock and the
  Conversion Rate;

	
 

	
 

	
 

	
     (3)
  any time on or after October 15, 2008 and prior to the close of business on
  the Stated Maturity;

	
 

	
 

	
 

	
     (4)
  as provided in clause (b) of this Section 10.01.

          The
Company or, at its option, the Conversion Agent on behalf of the Company, shall
determine on a daily basis during the time periods specified in Section
10.01(a)(1) or, following a request by a Holder of Securities in accordance
with the procedures specified in Section 10.01(a)(2), whether the Securities
shall be convertible as a result of the occurrence of an event specified in
such Sections and, if the Securities shall be so convertible, the Company or
the Conversion Agent, as applicable, shall promptly deliver to the Trustee and
Conversion Agent or the Company, as applicable written notice thereof. Whenever
the Securities shall become convertible pursuant to this Section 10.01 (as
determined in accordance with this Section 10.01), the Company or, at the
Company’s request, the Trustee in the name and at the expense of the Company,
shall promptly notify the Holders of the event triggering such convertibility
in the manner provided in Section 11.02, and the Company shall also promptly
disseminate a press release through Dow Jones & Company, Inc. or Bloomberg
Business News and publish such information on the Company’s web site or through
another public medium the Company may use at that time. Any notice so given
shall be conclusively presumed to have been duly given, whether or not the
Holder receives such notice.

53

	
 

	
 

	
 

	
 

	
(b) In the
  event that:

	
 

	
 

	
 

	
 

	
     (1)
  (A) the Company distributes to all or substantially all holders of Common
  Stock rights or warrants (other than pursuant to any dividend reinvestment or
  share purchase plans) entitling them to purchase, for a period expiring
  within 60 days after the date of such distribution, Common Stock at less than
  the Last Reported Sale Price of the Common Stock on the Trading Day
  immediately preceding the announcement date for such distribution; or (B) the
  Company distributes to all or substantially all holders of Common Stock
  assets (including cash), debt securities or rights or warrants to purchase
  the Company’s securities, which distribution has a per share value as
  determined by the Board of Directors exceeding 10% of the Last Reported Sale
  Price of the Common Stock on the Trading Day immediately preceding the
  announcement date of such distribution, then, in either case, the Securities
  may be surrendered for conversion at any time on and after the date that the
  Company gives notice to the Holders of such distribution, which shall be not
  less than 30 Business Days prior to the Ex-Dividend Date for such
  distribution, until the earlier of the close of business on the Business Day
  immediately preceding the Ex-Dividend Date for such distribution or the date
  on which the Company announces that such distribution shall not take place,
  even if the Securities are not otherwise convertible at such time; provided that no Holder of a Security
  shall have the right to convert if the Holder may otherwise participate in
  such distribution without conversion at the same time and on the same terms
  as holders of the Common Stock as if such Holder of the Securities held a
  number of shares of the Common Stock equal to the Conversion Rate in effect
  on the Ex-Dividend Date for such distribution multiplied by the principal amount
  (expressed in thousands) of the applicable Securities held by such Holder; or

	
 

	
 

	
 

	
 

	
 

	
     (2)
  a Change of Control occurs pursuant to clause (1) of the definition thereof
  set forth above or clause (3) of the definition thereof set forth above
  pursuant to which the Common Stock is to be converted into cash, securities
  or other property, then the Securities may be surrendered for conversion at
  any time from and after the date which is 15 days prior to the anticipated
  effective date of such transaction until 15 days after the actual effective
  date of such transaction (or, if such transaction also constitutes a Change
  of Control pursuant to which Holders have a right to require the Company to
  repurchase the Securities pursuant to Section 3.02, until the Business Day
  immediately preceding the applicable Fundamental Change Repurchase Date for
  such transaction). The Company shall notify Holders and the Trustee at the
  time the Company publicly announces the Change of Control transaction giving
  rise to the above

54

	
 

	
 

	
 

	
conversion
  right (but in no event less than 15 days prior to the effective date of such
  transaction). If the Company engages in any reclassification of the Common
  Stock (other than a subdivision or combination of its outstanding Common
  Stock, or a change in par value, or from par value to no par value, or from
  no par value to par value) or is party to a consolidation, merger, binding
  share exchange or transfer of all or substantially all of its assets pursuant
  to which Holders of Common Stock would be entitled to receive cash,
  securities or other property, then at the effective time of such transaction,
  to the extent that it constitutes a Change of Control as described in this
  paragraph above as giving rise to a conversion right, the Conversion Obligation
  and the Conversion Settlement Distribution shall be based on the applicable
  Conversion Rate and the kind and amount of cash, securities or other property
  that a holder of one share of the Common Stock would have received in such
  transaction and the value thereof during the Cash Settlement Period, as
  determined pursuant to Section 10.05(b) (such property, collectively, the “Exchange Property”). In addition, if a
  Holder converts Securities following the effective time of any such
  transaction, any amounts of the Conversion Settlement Distribution to be
  settled in shares of Common Stock shall be paid in such Exchange Property
  rather than shares of Common Stock, subject to the settlement provisions of
  Section 10.03. If the transaction also constitutes a Change of Control, (A) a
  Holder can require the Company to repurchase all or a portion of its
  Securities pursuant to Section 3.02 or, (B) if the Change of Control is a
  Change of Control that would lead to the issuance of Additional Shares as set
  forth in Section 10.01(c), if such Holder elects, instead, to convert all or
  a portion of its Securities, such Holder shall receive Additional Shares upon
  conversion pursuant to Section 10.01(c), subject to the settlement provisions
  of Section 10.03, in each case, subject to the terms and conditions set forth
  in each such Section. However, if the Change of Control that would lead to
  the issuance of Additional Shares as set forth in clause (B) of the
  immediately preceding sentence also constitutes a Public Acquirer Change of
  Control, then the Company may, in lieu of increasing the Conversion Rate by
  Additional Shares as described in Section 10.01(c), elect to adjust the
  Conversion Rate and the related Conversion Obligation as described in Section
  10.01(d).

          (c)
If and only to the extent a Holder timely elects to convert Securities during
the period specified in Section 10.01(b)(2) above and 10% or more of the
consideration for the Common Stock in such Change of Control transaction
consists of consideration other than common stock traded or scheduled to be
traded immediately following such transaction on a U.S. national securities
exchange, the Conversion Rate shall be increased by an additional number of
shares of Common

55

Stock (the “Additional Shares”) as described below; provided that if the Stock Price paid
in connection with such transaction is greater than $130.00 or less than $43.38 (subject in each case to adjustment as described
below), no Additional Shares shall be added to the Conversion Rate. Notwithstanding this Section 10.01(c), if the Company elects
to adjust the Conversion Rate pursuant to Section 10.01(d), the provisions of Section 10.01(d)shall apply in lieu of the
provisions of this Section 10.01(c). The Company shall notify Holders, at least 15 days prior to the anticipated effective date of
such transaction causing any increase of the Conversion Rate pursuant to this Section 10.01(c), whether the Company elects to
increase the Conversion Rate as described above or to adjust the Conversion Rate pursuant to Section 10.01(d).

          The number of Additional Shares to be added to the
Conversion Rate as described in the immediately preceding paragraph shall be determined by reference to the table attached as
Schedule I hereto, based on the effective date of such Change of Control transaction and the Stock Price paid in connection with
such transaction; provided that if the Stock Price is between two Stock Price amounts in the table or such effective date
is between two effective dates in the table, the number of Additional Shares shall be determined by a straight-line interpolation
between the number of Additional Shares set forth for the higher and lower Stock Price amounts and the two dates, as applicable,
based on a 365-day year. The “effective date” with respect to a Change of Control transaction means the date that
a Change of Control becomes effective.

          With respect to any Securities tendered for conversion
to which Additional Shares apply, any shares of Common Stock to be delivered upon conversion of such Securities pursuant to
Section 10.02 shall be delivered to Holders who elect to convert their Securities on the later of (i) the fifth Business Day
following the effective date and (2) the third Business Day following the final day of the Cash Settlement Period.

          The Stock Prices set forth in the first row of the
table in Schedule I hereto shall be adjusted as of any date on which the Conversion Rate of the Securities is adjusted pursuant to
Section 10.04. The adjusted Stock Prices shall equal the Stock Prices applicable immediately prior to such adjustment, multiplied
by a fraction, the numerator of which is the Conversion Rate immediately prior to the adjustment giving rise to the Stock Price
adjustment and the denominator of which is the Conversion Rate as so adjusted. The number of Additional Shares shall be adjusted
in the same manner as the Conversion Rate as set forth in Section 10.04.

          Notwithstanding the foregoing, in no event shall the
total number of shares of Common Stock issuable upon conversion of the Securities pursuant to this clause (c) exceed 23.0501 per
$1,000 principal amount of Securities, subject to adjustments in the same manner as the Conversion Rate as set forth in Section
10.04.

56

          (d) Notwithstanding the provisions of Section
10.01(c), in the case of a Change of Control that would lead to the issuance of Additional Shares as set forth in clause (c) above
that is also a Public Acquirer Change of Control, the Company may, in lieu of increasing the Conversion Rate by Additional Shares
as described in Section 10.01(c), elect to adjust the Conversion Rate and the related Conversion Obligation such that from and
after the effective date of such Public Acquirer Change of Control, Holders of Securities shall be entitled to convert their
Securities (subject to the satisfaction of the conditions to conversion set forth in Section 10.01(a) and the settlement
provisions of Section 10.03) into Public Acquirer Common Stock. The Conversion Rate following the effective date of such
transaction will be a number of shares of Public Acquirer Common Stock equal to the product of the Conversion Rate in effect
immediately before the Public Acquirer Change of Control multiplied by the average of the quotients obtained, for each Trading Day
in the 10 consecutive Trading Day period ending on the Trading Day immediately preceding the effective date of such Public
Acquirer Change of Control (the “Valuation Period”), of:

	
 

	
 

	
 

	
 

	
(i)

	
the
  Acquisition Value of our Common Stock on each such Trading Day in the
  Valuation Period, divided by

	
 

	
 

	
 

	
 

	
(ii)

	
the Last
  Reported Sale Price of the Public Acquirer Common Stock on each such Trading
  Day in the Valuation Period.

          The
“Acquisition Value” of the Common
Stock means, for each Trading Day in the Valuation Period, the value of the
consideration paid per share of Common Stock in connection with such Public
Acquirer Change of Control, as follows:

	
 

	
 

	
 

	
 

	
(i)

	
for any
  cash, 100% of the face amount of such cash;

	
 

	
 

	
 

	
 

	
(ii)

	
for any
  Public Acquirer Common Stock, 100% of the Last Reported Sale Price of such
  Public Acquirer Common Stock on such trading day; and

	
 

	
 

	
 

	
 

	
(iii)

	
for any
  other securities, assets or property, 102% of the fair market value of such
  security, asset or property on such Trading Day, as determined by three
  independent nationally recognized investment banks selected by the Company
  for this purpose.

          “Public Acquirer Change of Control”
means an
event constituting a corporate transaction that would otherwise obligate the
Company to increase the Conversion Rate as described in Section 10.01(c) and
the acquirer, the person formed by or surviving the merger or consolidation or
any entity that is direct or indirect “beneficial owner” (as defined in Rule
13d-3 under the Exchange Act) of more than 50% of such person’s or acquirer’s
Voting Stock has a class of common stock traded on a national securities
exchange or which shall be so traded when issued or exchanged in connection
with such Change of Control (the “Public

57

Acquirer Common Stock”); provided, that if there is more than one of such entity, the relevant
entity shall be such entity with the most direct beneficial ownership to such acquirer’s or person’s Capital
Stock.

          Upon a Public Acquirer Change of Control, if the
Company so elects, Holders may convert their Securities (subject to the satisfaction of the conditions to conversion set forth in
Section 10.01(a)) and the settlement provisions of Section 10.03 at the adjusted Conversion Rate described above but shall not be
entitled to the increased Conversion Rate described in Section 10.01(c). The Company shall notify Holders of its election in its
notice to Holders pursuant to Section 10.01(b)(2) above. Holders may convert their Securities upon a Public Acquirer Change of
Control during the period specified in Section 10.01(b)(2). In addition, Holders can also, subject to certain conditions, require
the Company to repurchase all or a portion of their Securities as described in Section 3.02.

          After any adjustment of the Conversion Rate in
connection with a Public Acquirer Change of Control, the Conversion Rate shall be subject to further similar adjustments in the
event that any of the events described in Section 10.04 occur thereafter.

          The Company may only make such election if such public
acquirer is a corporation organized under the laws of the United States, any State thereof or the District Columbia and if the
Company and such public acquirer execute a supplemental indenture whereby the public acquirer agrees to comply with the
obligations of the Company under the Securities and the Indenture applicable to such public acquirer or any securities thereof
that may be issuable upon conversion of the Securities.

          Section 10.02. Conversion Procedure; Conversion
Rate; Fractional Shares. (a) Subject to Section 10.01 and the Company’s rights under Section 10.03, each Security shall
be convertible at the office of the Conversion Agent into a combination of cash and fully paid and nonassessable shares
(calculated to the nearest 1/10,000th of a share) of Common Stock, if any at a rate (the “Conversion Rate”) equal
to, initially, 19.2101 shares of Common Stock for each $1,000 principal amount of Securities. The Conversion Rate shall be
adjusted in certain instances as provided in Section 10.04 hereof, but shall not be adjusted for any accrued and unpaid Interest
or Additional Amounts, if any. Upon conversion, no payment shall be made by the Company with respect to any accrued and unpaid
Interest, including Additional Amounts, if any. Instead, such amount shall be deemed paid by the applicable Conversion Settlement
Distribution delivered upon conversion of any Security. In addition, no payment or adjustment shall be made in respect of
dividends on the Common Stock with a record date prior to the Conversion Date. The Company shall not issue any fraction of a share
of Common Stock in connection with any conversion of Securities, but instead shall, subject to Section 10.03 hereof, make a cash
payment (calculated to the nearest cent) equal to

58

such fraction
multiplied by the Last Reported Sale Price of the Common Stock on the Trading
Day immediately prior to the Conversion Date.

          (b)
Before any Holder of a Security shall be entitled to convert the same into a
combination of cash and Common Stock, if any, such Holder shall (1) in the case
of Global Securities, comply with the procedures of the Depositary in effect at
that time for converting a beneficial interest in a Global Security, and in the
case of Certificated Securities, surrender such Securities, duly endorsed to
the Company or in blank, at the office of the Conversion Agent, and (2) give
written notice to the Company in the form on the reverse of such Certificated
Security (the “Conversion Notice”)
at said office or place that such Holder elects to convert the same and shall
state in writing therein the principal amount of Securities to be converted and
the name or names (with addresses) in which such Holder wishes the certificate
or certificates for Common Stock included in the Conversion Settlement
Distribution, if any, to be registered.

          Before
any such conversion, a Holder also shall pay all taxes or duties, if any, as
provided in Section 10.06 and any amount payable pursuant to Section 10.02(g).

          If
more than one Security shall be surrendered for conversion at one time by the
same Holder, the number of full shares of Common Stock, if any, that shall be
deliverable upon conversion as part of the Conversion Settlement Distribution
shall be computed on the basis of the aggregate principal amount of the
Securities (or specified portions thereof to the extent permitted thereby) so
surrendered.

          (c)
A Security shall be deemed to have been converted as of the close of business
on the date (the “Conversion Date”)
that the Holder has complied with Section 10.02(b).

          (d)
The Company shall, on the Conversion Settlement Date, (i) pay the cash
component (including cash in lieu of any fraction of a share to which such
Holder would otherwise be entitled) of the Conversion Obligation determined
pursuant to Section 10.03 to the Holder of a Security surrendered for
conversion, or such Holder’s nominee or nominees, and (ii) issue, or cause to
be issued, and deliver to the Conversion Agent or to such Holder, or such
Holder’s nominee or nominees, certificates for the number of full shares of
Common Stock, if any, to which such Holder shall be entitled as part of such
Conversion Obligation. The Company shall not be required to deliver
certificates for shares of Common Stock while the stock transfer books for such
stock or the security register are duly closed for any purpose, but
certificates for shares of Common Stock shall be issued and delivered as soon
as practicable after the opening of such books or security register, and the
person or persons entitled to receive the Common Stock as part of the
applicable Conversion Settlement Distribution upon such conversion shall be
treated for all purposes as the record holder or holders of such Common Stock,
as of the close of business on the applicable Conversion Settlement Date.

59

          (e)
In case any Security shall be surrendered for partial conversion, the Company
shall execute and the Trustee shall authenticate and deliver to or upon the
written order of the Holder of the Security so surrendered, without charge to
such Holder (subject to the provisions of Section 10.06 hereof), a new Security
or Securities in authorized denominations in an aggregate principal amount equal
to the unconverted portion of the surrendered Securities.

          (f)
By delivering the combination of cash and shares of Common Stock, if any,
together with a cash payment in lieu of any fractional shares to the Conversion
Agent or to the Holder or such Holder’s nominee or nominees, the Company shall
have satisfied in full its Conversion Obligation with respect to such Security,
and upon such delivery, accrued and unpaid Interest, if any, and Additional
Amounts, if any, with respect to such Security shall be deemed to be paid in
full rather than canceled, extinguished or forfeited, and such amounts shall no
longer accrue.

          (g)
If a Securityholder delivers a Conversion Notice after the Interest Record Date
for a payment of Interest (including Additional Amounts, if any) but prior to
the corresponding Interest Payment Date, such Securityholder must pay to the
Company, at the time such Securityholder surrenders Securities for conversion,
an amount equal to the Interest (including Additional Amounts, if any), that
has accrued and shall be paid on the related Interest Payment Date. The
preceding sentence shall not apply if (1) the Company has specified a
Fundamental Change Repurchase Date that is after the close of business on an
Interest Record Date but on or prior to the corresponding Interest Payment
Date, (2) to the extent of overdue Interest (and any Additional Amounts), if
any overdue Interest (and any Additional Amounts) exists at the time of
conversion with respect to the Securities converted or (3) if a Holder converts
its Securities after the close of business on the last Interest Record Date and
on or prior to the Stated Maturity.

          Section
10.03. Payment Upon Conversion. (a)
Upon conversion of Securities, the Company shall deliver to Holders
surrendering Securities for conversion, for each $1,000 principal amount of
Securities, a settlement amount (the “Conversion
Settlement Distribution”) on the Conversion Settlement Date
consisting of:

	
 

	
 

	
 

	
          (i)
  a cash amount (the “Principal Return”)
  equal to the lesser of $1,000 and the Conversion Value;

	
 

	
 

	
 

	
          (ii)
  if the Conversion Value exceeds $1,000, at the Company’s election, (x) cash
  equal to the difference (such difference, the “Net Share Amount”) between the Conversion Value and $1,000,
  (y) a number of shares of Common Stock (the “Net Shares”) equal to the Net Share Amount divided by the
  Twenty Day Average Closing Stock Price or (z) a combination thereof; and

60

	
 

	
 

	
 

	
          (iii)
  an amount in cash in lieu of any fractional shares of Common Stock.

          The
Company may elect to pay cash to Holders of the Securities surrendered for
conversion in lieu of all or a portion of the Net Shares of Common Stock
issuable upon conversion of such Securities. If the Company does so elect to
pay cash, the Company will notify Holders though the Trustee of the dollar
amount to be satisfied in cash (either 100% of the Net Share Amount or a fixed
dollar amount (the “Specified Cash Amount”)
will be paid) at any time on or before the date that is two Business Days
following the Conversion Date.

	
 

	
 

	
 

	
If the
  Conversion Value for any conversion exceeds $1,000 and:

	
 

	
 

	
 

	
          (i)
  the Company elects to deliver solely shares of Common Stock to satisfy the
  Net Share Amount for any conversion, then, in addition to the Principal
  Return, the Company will deliver to Holders of Securities surrendered for
  conversion a number of Net Shares determined by dividing the Net Share Amount
  for such conversion by the Twenty Day Average Closing Stock Price;

	
 

	
 

	
 

	
          (ii)
  the Company elects to pay solely cash to satisfy the Net Share Amount for any
  conversion, then, in addition to the Principal Return, the Company will pay
  cash to Holders of the Securities surrendered for conversion in an amount
  equal to the Net Share Amount for such conversion; and

	
 

	
 

	
 

	
          (iii)
  the Company elects to satisfy some but not all of the Net Share Amount for
  any conversion in cash, then, in addition to the Principal Return, (A) the
  Company will pay to Holders of the Securities surrendered for conversion cash
  in an amount equal to the lesser of (x) the Net Share Amount for such
  conversion and (y) the Specified Cash Amount, and (B) the Company will
  deliver to Holders of Securities surrendered for conversion a number of shares
  of Common Stock equal to the greater of (1) zero and (2) (a) (i) the Net
  Share Amount, minus (ii) the Specified Cash Amount, divided by (b) the Twenty
  Day Average Closing Stock Price.

          The
Conversion Value, Principal Return, Net Share Amount (if applicable), the
number of shares of Common Stock to be delivered to a Holder upon conversion,
if any, and the aggregate amount of cash payable in connection with any
conversion will be determined by the Company on the last Trading Day of the
Cash Settlement Period. Settlement (in cash and/or shares) will occur on the
third Business Day following the final day of such Cash Settlement Period.

          The
“Conversion Value” means the
product of (1) the Conversion Rate in effect (plus any Additional Shares as
described under Section 10.01(c)) and (2) the average of the Last Reported Sale
Prices of the Common Stock for the Trading

61

Days during
the Cash Settlement Period (such average, the “Twenty Day Average Closing Stock Price”).

          The
“Cash Settlement Period” with
respect to any Securities converted means the 20 consecutive Trading Days
beginning on the second Trading Day after the Conversion Date for those
Securities, except in circumstances where conversion occurs within 20 Trading
Days leading up to the Stated Maturity, in which case the Cash Settlement
Period will be the 20 consecutive Trading Days beginning on the second Trading
Day following the Stated Maturity. In addition, if the Company chooses to
settle all or any portion of the Net Share Amount in cash in connection with a
conversion within 20 Trading Days leading up to the Stated Maturity, the
Company will send, on or prior to the Stated Maturity, a single notice to the
Trustee of the Net Share Amount to be satisfied in cash.

          (b)
If a Holder tenders Securities for conversion and the Conversion Value is being
determined at a time when the Securities are convertible into Exchange
Property, the Conversion Value of each Security shall be determined based on
the kind and amount of such Exchange Property and the value thereof during the
Cash Settlement Period. Settlement of Securities tendered for conversion after
the effective date of any transaction giving rise to Exchange Property shall be
as set forth above. For the purposes of this Section, the Last Reported Sale
Price of the Common Stock shall be deemed to equal the sum of (A) 100% of the
value of any Exchange Property consisting of cash received per share of Common
Stock, (B) the Last Reported Sale Price of any Exchange Property received per
share of Common Stock consisting of securities that are traded on a U.S.
national securities exchange and (3) the Fair Market Value of any other
Exchange Property received per share, as determined by three independent
nationally recognized investment banks selected by the Company for this
purpose. Settlement (in cash and/or shares) will occur on the third Business
Day following the final day of such Cash Settlement Period.

          Section
10.04. Adjustment of Conversion Rate. The
Conversion Rate shall be adjusted from time to time by the Company in
accordance with this Section 10.04:

          (a)
In case the Company shall hereafter pay a dividend or make a distribution to
all or substantially all holders of the outstanding Common Stock in shares of
Common Stock, the Conversion Rate shall be increased so that the same shall
equal the rate determined by multiplying the Conversion Rate in effect
immediately prior to the open of business on the Ex-Dividend Date for such
dividend or other distribution by a fraction,

	
 

	
 

	
 

	
          (i)
  the numerator of which shall be the sum of (A) the number of shares of Common
  Stock outstanding immediately prior to the open of business on the
  Ex-Dividend Date for such dividend or distribution plus (B)

62

	
 

	
 

	
 

	
the total
  number of shares of Common Stock constituting the dividend or distribution;
  and

	
 

	
 

	
          (ii)
  the denominator of which shall be the number of shares of Common Stock
  outstanding immediately prior to the open of business on the Ex-Dividend Date
  for such dividend or distribution,

such increase
to become effective immediately after the open of business on the Ex-Dividend
Date for such dividend or distribution. If any dividend or distribution of the
type described in this Section 10.04 is declared but not so paid or made, the
Conversion Rate shall again be adjusted to the Conversion Rate that would then
be in effect if such dividend or distribution had not been declared.

          (b)
In case the Company shall issue rights, warrants or options (other than
pursuant to any dividend reinvestment or share repurchase plans) to all or
substantially all holders of its outstanding shares of Common Stock entitling
them (for a period of up to 60 days from the date of issuance of such rights,
warrants or options) to subscribe for or purchase shares of Common Stock at a
price per share less than the Current Market Price on the Ex-Dividend Date for
such issuance, the Conversion Rate shall be adjusted so that the same shall
equal the rate determined by multiplying the Conversion Rate in effect
immediately prior to the open of business on the Ex-Dividend Date for such
issuance by a fraction,

	
 

	
 

	
 

	
          (i)
  the numerator of which shall be the sum of (A) the number of shares of Common
  Stock outstanding immediately prior to the open of business on the
  Ex-Dividend Date for such issuance plus (B) the total number of additional
  shares of Common Stock offered for subscription or purchase, and

	
 

	
 

	
 

	
          (ii)
  the denominator of which is the sum of (A) the number of shares of Common
  Stock outstanding immediately prior to the open of business on the
  Ex-Dividend Date for such issuance plus (B) the total number of additional
  shares of Common Stock that the aggregate offering price of the total number
  of shares of Common Stock offered for subscription or purchase would purchase
  at the Current Market Price of the Common Stock on the Ex-Dividend Date for
  such issuance.

          Such
adjustment shall be successively made whenever any such rights, warrants or
options are issued, and shall become effective immediately after the open of
business on the Ex-Dividend Date for such issuance. To the extent that shares
of Common Stock are not delivered after the expiration of such rights, warrants
or options, the Conversion Rate shall be readjusted to the Conversion Rate that
would then be in effect had the adjustments made upon the issuance of such
rights, warrants or options been made on the basis of delivery of only the
number of shares of Common Stock actually delivered. In the event that such
rights, warrants or options are not so issued, the Conversion Rate shall again
be adjusted to be the Conversion Rate that would then be in effect if such
rights, warrants or

63

options had
not been issued. In determining whether any rights, options or warrants entitle
the holders to subscribe for or purchase shares of Common Stock at less than
Current Market Price of the Common Stock on the Ex-Dividend Date for such
issuance, and in determining the aggregate offering price of such shares of Common
Stock, there shall be taken into account any consideration received by the
Company for such rights, warrants or options and any amount payable on exercise
or conversion thereof, the value of such consideration, if other than cash, to
be determined by the Board of Directors.

          (c)
In case outstanding shares of Common Stock shall be subdivided into a greater
number of shares of Common Stock, the Conversion Rate in effect immediately
prior to the open of business on the effective date for such subdivision shall
be proportionately increased, and conversely, in case outstanding shares of
Common Stock shall be combined into a smaller number of shares of Common Stock,
the Conversion Rate in effect immediately prior to the open of business on the
effective date for such combination shall be proportionately reduced, such
increase or reduction, as the case may be, to become effective immediately
after the open of business on the effective date for such subdivision or
combination.

          (d)
Except as set forth in the immediately succeeding paragraph, in case the
Company shall, by dividend or otherwise, distribute to all or substantially all
holders of its Common Stock shares of any class of Capital Stock of the
Company, evidences of its indebtedness or assets (including securities, but
excluding any rights, options or warrants referred to in Section 10.04(b) and
excluding any dividend or distribution (x) paid exclusively in cash or (y)
referred to in Section 10.04(a)) (any of the foregoing hereinafter in this
Section 10.04(d) called the “Distributed
Assets”), then, in each such case, the Conversion Rate shall be
increased so that the same shall be equal to the rate determined by multiplying
the Conversion Rate in effect immediately prior to the open of business on the
Ex-Dividend Date for such distribution by a fraction,

	
 

	
 

	
 

	
          (i)
  the numerator of which shall be the Current Market Price per share of the
  Common Stock on the Ex-Dividend Date for such distribution; and

	
 

	
 

	
 

	
          (ii)
  the denominator of which shall be the Current Market Price per share of the
  Common Stock less the Fair Market Value (as determined by the Board of
  Directors and described in a resolution of the Board of Directors) on the
  Ex-Dividend Date for such distribution of the portion of the Distributed
  Assets so distributed applicable to one share of Common Stock,

such
adjustment to become effective immediately after the open of business on the
Ex-Dividend Date for such distribution; provided,
however, that in the event (1)
the then Fair Market Value (as so determined) of the portion of the Distributed
Assets so distributed applicable to one share of Common Stock is equal to or
greater than

64

the Current
Market Price of the Common Stock on such Ex-Dividend Date or (2) the Current
Market Price of the Common Stock on such Ex-Dividend Date exceeds the then Fair
Market Value (as so determined) of the portion of the Distributed Assets so
distributed applicable to one share of Common Stock by less than $1.00, in lieu
of the foregoing adjustment, adequate provision shall be made so that each
Holder shall have the right to receive at the same time as holders of the
Common Stock the amount of Distributed Assets such Holder would have received
had such Holder converted each Security into solely shares of Common Stock at
the then-current Conversion Rate on the Ex-Dividend Date for such distribution.
In the event that such distribution is not so paid or made, the Conversion Rate
shall be adjusted to be the Conversion Rate that would then be in effect if
such distribution had not been declared. If the Board of Directors determines
the Fair Market Value of any distribution for purposes of this Section 10.04(d)
by reference to the actual or when issued trading market for any securities, it
must in doing so consider the prices in such market over the same period used
in computing the Current Market Price of the Common Stock.

          Notwithstanding
the immediately preceding paragraph, if any Distributed Assets requiring any
adjustment pursuant to this Section 10.04(d) consist of the Capital Stock, or
similar equity interests in, a Subsidiary or other business unit of the Company
that are or in connection with such distribution will be listed for trading on
a U.S. national or regional securities exchange, the Conversion Rate in effect
at the close of business on the fifteenth Trading Day immediately following the
Ex-Dividend Date for such distribution shall instead be increased by
multiplying the Conversion Rate then in effect by a fraction, (A) the numerator
of which is the sum of (1) the average of the Last Reported Sale Prices of such
distributed security for the 10 Trading Days commencing on and including the
fifth Trading Day immediately following the Ex-Dividend Date on the NYSE or
such other national or regional exchange on which such securities are then
listed plus (2) the average of the Last Reported Sale Prices of the Common
Stock over the same Trading Day period and (B) the denominator of which is such
average of the Last Reported Sale Prices of the Common Stock for the 10 Trading
Days commencing on and including the fifth Trading Day after the Ex-Dividend
Date on the NYSE or such other national or regional exchange or market on which
the securities are then listed.

          Rights
or warrants distributed by the Company to all holders of Common Stock entitling
the Holders thereof to subscribe for or purchase shares of the Company’s
Capital Stock (either initially or under certain circumstances), which rights
or warrants, until the occurrence of a specified event or events (“Trigger Event”): (i) are deemed to be
transferred with such shares of Common Stock; (ii) are not exercisable; and
(iii) are also issued in respect of future issuances of Common Stock, shall be
deemed not to have been distributed for purposes of this Section 10.04 (and no
adjustment to the Conversion Rate under this Section 10.04 shall be required)
until the occurrence of the earliest Trigger Event, whereupon such rights and
warrants shall be deemed to have been distributed and an

65

appropriate
adjustment (if any is required) to the Conversion Rate shall be made under this
Section 10.04. If any such right or warrant, including any such existing rights
or warrants distributed prior to the date of this Indenture, are subject to
events, upon the occurrence of which such rights or warrants become exercisable
to purchase different securities, evidences of indebtedness or other assets,
then the date of the occurrence of any and each such event shall be deemed to
be the date of distribution and record date with respect to new rights or
warrants with such rights (and a termination or expiration of the existing
rights or warrants without exercise by any of the holders thereof). In
addition, in the event of any distribution (or deemed distribution) of rights
or warrants, or any Trigger Event or other event (of the type described in the
preceding sentence) with respect thereto that was counted for purposes of
calculating a distribution amount for which an adjustment to the Conversion Rate
under this Section 10.04 was made, (1) in the case of any such rights or
warrants that shall all have been redeemed or repurchased without exercise by
any holders thereof, the Conversion Rate shall be readjusted upon such final
repurchase to give effect to such distribution or Trigger Event, as the case
may be, as though it were a cash distribution, equal to the per share
repurchase price received by a holder or holders of Common Stock with respect
to such rights or warrants (assuming such holder had retained such rights or
warrants), made to all holders of Common Stock as of the date of such
repurchase, and (2) in the case of such rights or warrants that shall have
expired or been terminated without exercise by any holders thereof, the
Conversion Rate shall be readjusted as if such rights and warrants had not been
issued.

          For
purposes of this Section 10.04(d) and Section 10.04(a) and (b), any dividend or
distribution to which this Section 10.04(d) is applicable that also includes
shares of Common Stock, or rights or warrants to subscribe for or purchase
shares of Common Stock (or both), shall be deemed instead to be (1) a dividend
or distribution of the evidences of indebtedness, assets or shares of capital
stock other than such shares of Common Stock or rights or warrants (and any
Conversion Rate adjustment required by this Section 10.04(d) with respect to
such dividend or distribution shall then be made) immediately followed by (2) a
dividend or distribution of such shares of Common Stock or such rights or
warrants (and any further Conversion Rate adjustment required by Section
10.04(a) and (b) with respect to such dividend or distribution shall then be
made), except the Ex-Dividend Date for such dividend or distribution shall be
substituted for “the Ex-Dividend Date for such dividend or distribution” within
the meaning of Section 10.04(a) and the “Ex-Dividend Date for such issuance”
within the meaning of Section 10.04(b) and any shares of Common Stock included
in such dividend or distribution shall not be deemed “outstanding immediately
prior to the open of business on the Ex-Dividend Date for such dividend or
distribution” within the meaning of Section 10.04(a).

          (e)
In case the Company shall, by dividend or otherwise, distribute to all or
substantially all holders of its Common Stock cash (an “Extraordinary Cash Dividend”) (excluding
any dividend or distribution in connection with the

66

liquidation,
dissolution or winding up of the Company, whether voluntary or involuntary),
then, in such case, the Conversion Rate shall be increased so that the same
shall equal the rate determined by multiplying the Conversion Rate in effect
immediately prior to the open of business on the Ex-Dividend Date for such
Extraordinary Cash Dividend by a fraction,

	
 

	
 

	
 

	
          (i)
  the numerator of which shall be the Current Market Price of the Common Stock
  on the Ex-Dividend Date for such distribution, and

	
 

	
 

	
 

	
          (ii)
  the denominator of which shall be the Current Market Price of the Common
  Stock on the Ex-Dividend Date for such distribution minus the amount of such
  dividend or the amount of cash so distributed applicable to one share of
  Common Stock,

such
adjustment to be effective immediately after the open of business on the
Ex-Dividend Date; provided, however,
that in the event (1) the portion of the cash so distributed applicable to one
share of Common Stock is equal to or greater than the Current Market Price of
the Common Stock on such Ex-Dividend Date or (2) the Current Market Price of
the Common Stock on such Ex-Dividend Date exceeds the per share amount of such
cash dividend by less than $1.00, in lieu of the foregoing adjustment, adequate
provision shall be made so that each Holder shall have the right to receive at
the same time as holders of the Common Stock the amount of cash such Holder
would have received had such Holder converted each Security into solely shares
of Common Stock at the then-current Conversion Rate on such Ex-Dividend Date
for such distribution. In the event that such dividend or distribution is not
so paid or made, the Conversion Rate shall again be adjusted to be the
Conversion Rate that would then be in effect if distribution had not been
declared.

          (f)
In case a tender or exchange offer made by the Company or any Subsidiary for
all or any portion of the Common Stock shall expire and such tender or exchange
offer (as amended upon the expiration thereof) shall require the payment to
stockholders of consideration per share of Common Stock having a Fair Market
Value (as determined by the Board of Directors, whose determination shall be
conclusive and described in a resolution of the Board of Directors) that as of
the last time (the “Expiration Time”)
tenders or exchanges may be made pursuant to such tender or exchange offer (as
it may be amended) exceeds the Last Reported Sale Price of the Common Stock on
the Trading Day next succeeding the Expiration Time, the Conversion Rate shall
be increased so that the same shall equal the rate determined by multiplying
the Conversion Rate in effect at the close of business on the Trading Day next
succeeding the Expiration Time by a fraction,

	
 

	
 

	
 

	
          (i)
  the numerator of which shall be the sum of (x) the Fair Market Value
  (determined as aforesaid) of the aggregate consideration payable to
  stockholders based on the acceptance (up to any maximum specified in the
  terms of the tender or exchange offer) of all shares validly

67

	
 

	
 

	
 

	
tendered or
  exchanged and not withdrawn as of the Expiration Time (the shares deemed so
  accepted up to any such maximum, being referred to as the “Purchased Shares”) and (y) the product of
  the number of shares of Common Stock outstanding (less any Purchased Shares)
  at the Expiration Time and the Last Reported Sale Price of the Common Stock
  on the Trading Day next succeeding the Expiration Time, and

	
 

	
 

	
 

	
          (ii)
  the denominator of which shall be the product of the number of shares of
  Common Stock outstanding (including any Purchased Shares) at the Expiration
  Time multiplied by the Last Reported Sale Price of the Common Stock on the
  Trading Day next succeeding the Expiration Time,

such
adjustment to become effective immediately after the close of business on the
Trading Day next succeeding the Expiration Time. In the event that the Company
is obligated to purchase shares pursuant to any such tender or exchange offer,
but the Company is permanently prevented by applicable law from effecting any
such purchases or all such purchases are rescinded, the Conversion Rate shall
again be adjusted to be the Conversion Rate that would then be in effect if
such tender or exchange offer had not been made. In no event shall the
Conversion Rate be reduced pursuant to this Section 10.04(f).

          (g)
In case of a tender or exchange offer made by a person other than the Company
or any Subsidiary for an amount that increases the offeror’s ownership of
Common Stock to more than 25% of the Common Stock outstanding and shall involve
the payment by such person of consideration per share of Common Stock having a
Fair Market Value (as determined by the Board of Directors, whose determination
shall be conclusive, and described in a resolution of the Board of Directors)
that as of the last time (the “Offer
Expiration Time”) tenders or exchanges may be made pursuant to such tender
or exchange offer (as it shall have been amended) exceeds the Last Reported
Sale Price of the Common Stock on the Trading Day next succeeding the Offer
Expiration Time, and in which, as of the Offer Expiration Time the Board of
Directors is not recommending rejection of the offer, the Conversion Rate shall
be increased so that the same shall equal the rate determined by multiplying
the Conversion Rate in effect at the close of business on the Trading Day next
succeeding the Offer Expiration Time by a fraction,

	
 

	
 

	
 

	
          (i)
  the numerator of which shall be the sum of (x) the Fair Market Value
  (determined as aforesaid) of the aggregate consideration payable to
  stockholders based on the acceptance (up to any maximum specified in the
  terms of the tender or exchange offer) of all shares of Common Stock validly
  tendered or exchanged and not withdrawn as of the Offer Expiration Time (the
  shares deemed so accepted, up to any such maximum, being referred to as the “Accepted Purchased Shares”) and (y)
the
  product of the number of shares of Common Stock outstanding (less any
  Accepted Purchased Shares) at the Offer Expiration Time and the Last

68

	
 

	
 

	
 

	
Reported
  Sale Price of the Common Stock on the Trading Day next succeeding the Offer
  Expiration Time, and

	
 

	
 

	
 

	
          (ii)
  the denominator of which shall be the product of the number of shares of
  Common Stock outstanding (including any Accepted Purchase Shares) at the
  Offer Expiration Time multiplied by the Last Reported Sale Price of the
  Common Stock on the Trading Day next succeeding the Offer Expiration Time,

such
adjustment to become effective immediately after the close of business on the
Trading Day next succeeding the Offer Expiration Time. In the event that such
person is obligated to purchase shares pursuant to any such tender or exchange
offer, but such person is permanently prevented by applicable law from
effecting any such purchases or all such purchases are rescinded, the
Conversion Rate shall again be adjusted to be the Conversion Rate that would
then be in effect if such tender or exchange offer had not been made.
Notwithstanding the foregoing, the adjustment described in this Section
10.04(g) shall not be made if, as of the Offer Expiration Time, the offering
documents with respect to such offer disclose a plan or intention to cause the
Company to engage in a consolidation or merger or a sale of all or
substantially all of our assets. In no event shall the Conversion Rate be
reduced pursuant to this Section 10.04(g).

          (h)
The Company may make such increases in the Conversion Rate, in addition to
those required by this Section 10.04, as the Board of Directors considers to be
advisable to avoid or diminish any U.S. federal income tax to holders of Common
Stock resulting from any stock distribution; provided,
however, that such increase in the Conversion Rate shall not adversely affect
the interests of the Holders of Securities (after taking into account U.S.
federal income tax and other consequences of such increase).

          To
the extent permitted by applicable law and the listing requirements of the New
York Stock Exchange or any national securities exchange on which the Common
Stock is then listed, the Company from time to time may increase the Conversion
Rate by any amount for any period of time if the period is at least 20 days,
the increase is irrevocable during the period and the Board of Directors shall
have made a determination that such increase would be in the best interests of
the Company, which determination shall be conclusive. Whenever the Conversion
Rate is increased pursuant to the preceding sentence, the Company shall mail to
Holders of record of the Securities a notice of the increase at least 15 days
prior to the date the increased Conversion Rate takes effect, and such notice
shall state the increased Conversion Rate and the period during which it shall
be in effect.

          (i)
All calculations under this Article 10 shall be made by the Company and shall
be made to the nearest cent or to the nearest one-ten thousandth of a share, as
the case may be, with one half-cent and 0.005 of a share, respectively,

69

being rounded
upward. Notwithstanding the foregoing, no adjustment need be made for:

	
 

	
 

	
 

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

	
 

	
 

	
 

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

	
 

	
 

	
 

	
          (iii)
  the issuance of any shares of Common Stock pursuant to any option, warrant,
  right or exercisable, exchangeable or convertible security outstanding as of
  the date the Securities were first issued,

	
 

	
 

	
 

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

	
 

	
 

	
 

	
          (v)
  accrued and unpaid Interest, including Additional Amounts, if any.

          (j)
Whenever the Conversion Rate is adjusted as herein provided, the Company shall
promptly file with the Trustee and any Conversion Agent (if other than the
Trustee) an Officer’s Certificate setting forth the Conversion Rate after such
adjustment and setting forth a brief statement of the facts requiring such
adjustment. Unless and until a Responsible Officer of the Trustee shall have
received such Officer’s Certificate, the Trustee shall not be deemed to have
knowledge of any adjustment of the Conversion Rate and may assume that the last
Conversion Rate of which it has knowledge is still in effect. Promptly after
delivery of such certificate, the Company shall prepare a notice of such
adjustment of the Conversion Rate setting forth the adjusted Conversion Rate
and the date on which each adjustment becomes effective and shall mail such
notice of such adjustment of the Conversion Rate to the Holder of each Security
at his last address appearing on the Security register provided for in Section
2.03 of this Indenture, within 20 days after execution thereof. Failure to
deliver such notice shall not affect the legality or validity of any such
adjustment.

          (k)
For purposes of this Section 10.04, the number of shares of Common Stock at any
time outstanding shall not include shares held in the treasury of the Company
but shall include shares issuable in respect of scrip certificates issued in
lieu of fractions of shares of Common Stock. The Company shall not pay any
dividend or make any distribution on shares of Common Stock held in the
treasury of the Company.

          Section
10.05. Effect of Reclassification,
Consolidation, Merger or Sale. (a) If any of the following events
occur, namely (i) any reclassification or change of

70

the
outstanding shares of Common Stock (other than a subdivision or combination to
which Section 10.04(c) applies or a change in par value) as a result of which
holders of Common Stock shall be entitled to receive Exchange Property with
respect to or in exchange for such Common Stock, (ii) any consolidation,
merger, binding share exchange or combination of the Company with another
person as a result of which holders of Common Stock shall be entitled to receive
Exchange Property with respect to or in exchange for such Common Stock, or
(iii) any sale or conveyance of all or substantially all the properties and
assets of the Company to any other person as a result of which holders of
Common Stock shall be entitled to receive Exchange Property with respect to or
in exchange for such Common Stock, then the Company or the successor or
purchasing person, as the case may be, shall execute with the Trustee a
supplemental indenture (which shall comply with the Trust Indenture Act as in
force at the date of execution of such supplemental indenture) providing for
the conversion and settlement of the Securities as set forth in this Indenture.
Such supplemental indenture shall provide for adjustments which shall be as nearly
equivalent as may be practicable to the adjustments provided for in this
Article 10. If, in the case of any such reclassification, change,
consolidation, merger, binding share exchange, combination, sale or conveyance,
the Exchange Property receivable thereupon by a holder of Common Stock includes
shares of stock or other securities and assets of a corporation other than the
successor or purchasing corporation, as the case may be, in such
reclassification, change, consolidation, merger, binding share exchange,
combination, sale or conveyance, then such supplemental indenture shall also be
executed by such other corporation and shall contain such additional provisions
to protect the interests of the Holders of the Securities as the Board of
Directors shall reasonably consider necessary by reason of the foregoing.

          (b)
The Conversion Obligation with respect to each $1,000 principal amount of
Securities converted following the effective date of any such transaction,
shall be calculated (as provided in clause (c) below) based on the Exchange
Property (subject to Section 10.01(d)). In the event holders of the Common
Stock have the opportunity to elect the form of consideration to be received in
such transaction, the Company shall make adequate provision whereby the Holders
of the Securities shall have a reasonable opportunity to determine the form of
consideration, consistent with the election rights and restrictions applicable
to holders of Common Stock, into which all of the Securities, treated as a single
class, shall be convertible from and after the effective date of such
transaction (subject to the Company’s ability to settle such Conversion
Obligation in cash as set forth in Section 10.03). Such determination shall be
made pursuant to Section 1.05 and shall be subject to any limitations to which
all of the holders of the Common Stock are subject, such as pro-rata reductions
applicable to any portion of the consideration payable in such event and shall
be conducted in such a manner as to be completed by the date which is the
earliest of (a) the deadline for elections to be made by holders of the Common
Stock in connection with such transaction, and (b) two Trading Days prior to
the anticipated effective date of such event. The Company shall provide notice
of the opportunity to determine the form of such

71

consideration,
as well as notice of the determination made by Holders of the Securities by
issuing a press release and providing a copy of such notice to the Trustee. The
Company shall not become a party to any such transaction unless its terms are
consistent with the preceding.

          (c)
The Conversion Obligation in respect of any Securities converted following the
effective date of any such transaction shall be computed in the same manner as
set forth in Section 10.03(a) (subject to Section 10.01(d)) except that (1) if
the Securities become convertible into Exchange Property, the Last Reported
Sale Price of the Common Stock shall be deemed to equal the sum of (A) 100% of
the value of any Exchange Property consisting of cash received per share of
Common Stock, (B) the Last Reported Sale Price of any Exchange Property
received per share of Common Stock consisting of securities that are traded on
a U.S. national securities exchange and (2) the Fair Market Value of any other
Exchange Property received per share, as determined by three independent
nationally recognized investment banks selected by the Company for this
purpose. Settlement (in cash and/or shares) shall occur on the third Business
Day following the final day of such Cash Settlement Period, provided, that any amount of the
Conversion Settlement Distribution to be delivered in shares of Common Stock
shall be paid in Exchange Property rather than shares of Common Stock. If the
Exchange Property includes more than one kind of property, the amount of
Exchange Property of each kind to be delivered shall be in the proportion that
the value of the Exchange Property (as calculated pursuant to Section 10.03) of
such kind bears to the value of all such Exchange Property. If the foregoing
calculations would require the Company to deliver a fractional share or unit of
Exchange Property to a Holder of Securities being converted, the Company shall
deliver cash in lieu of such fractional share or unit based on the value of the
Exchange Property.

          (d)
The Company shall cause notice of the execution of such supplemental indenture
to be mailed to each Holder of Securities, at its address appearing on the
Security register provided for in Section 2.03 of this Indenture, within 20
days after execution thereof. Failure to deliver such notice shall not affect
the legality or validity of such supplemental indenture.

          (e)
The above provisions of this Section shall similarly apply to successive reclassifications,
changes, consolidations, mergers, statutory share exchanges, combinations,
sales and conveyances.

          If
this Section 10.05 applies to any event or occurrence, Section 10.04 shall not
apply.

          Section
10.06. Taxes on Shares Issued.
The issue of stock certificates on conversions of Securities shall be made
without charge to the converting Holder for any tax in respect of the issue
thereof, except for applicable withholding, if any. The Company shall not,
however, be required to pay any tax or duty which may be payable in respect of
any transfer involved in the issue and delivery of stock in any

72

name other
than that of the Holder of any Securities converted, and the Company shall not
be required to issue or deliver any such stock certificate unless and until the
person or persons requesting the issue thereof shall have paid to the Company
the amount of such tax or shall have established to the satisfaction of the
Company that such tax has been paid.

          Section
10.07. Reservation of Shares, Shares to Be
Fully Paid; Compliance with Governmental Requirements. (a)The Company shall provide, free from
preemptive rights, out of its authorized but unissued shares or shares held in
treasury, sufficient shares of Common Stock for the conversion of the
Securities from time to time as such Securities are presented for conversion.

          (b)
Before taking any action which would cause an adjustment increasing the
Conversion Rate to an amount that would cause the Conversion Price to be
reduced below the then par value, if any, of the shares of Common Stock
issuable upon conversion of the Securities, the Company shall take all
corporate action which may, in the opinion of its counsel, be necessary in
order that the Company may validly and legally issue shares of such Common
Stock at such adjusted Conversion Rate.

          (c)
(i) The Company covenants that all shares of Common Stock which may be issued
upon conversion of Securities shall upon issue be fully paid and non-assessable
by the Company and free from all taxes, liens and charges with respect to the
issue thereof.

	
 

	
 

	
 

	
          (ii)
  The Company covenants that, if any shares of Common Stock to be provided for
  the purpose of conversion of Securities hereunder require registration with
  or approval of any governmental authority under any federal or state law
  before such shares may be validly issued upon conversion, the Company shall
  in good faith and as expeditiously as possible, to the extent then permitted
  by the rules and interpretations of the SEC (or any successor thereto),
  endeavor to secure such registration or approval, as the case may be.

          Section
10.08. Responsibility of Trustee.
The Trustee and any other Conversion Agent shall not at any time be under any
duty or responsibility to any Holder of Securities to determine the Conversion
Rate or whether any facts exist which may require any adjustment of the
Conversion Rate, or with respect to the nature or extent or calculation of any
such adjustment when made, or with respect to the method employed, or herein or
in any supplemental indenture provided to be employed, in making the same. The
Trustee and any other Conversion Agent shall not be accountable with respect to
the validity or value (or the kind or amount) of any shares of Common Stock, or
of any securities or property, which may at any time be issued or delivered
upon the conversion of any Security; and the Trustee and any other Conversion
Agent make no representations with respect thereto. Neither the Trustee nor any
Conversion Agent shall be responsible for any failure

73

of the Company
to issue, transfer or deliver any shares of Common Stock or stock certificates
or other securities or property or cash upon the surrender of any Security for
the purpose of conversion or to comply with any of the duties, responsibilities
or covenants of the Company contained in this Article 10. Without limiting the
generality of the foregoing, neither the Trustee nor any Conversion Agent shall
be under any responsibility to determine the correctness of any provisions
contained in any supplemental indenture entered into pursuant to Section 10.05
relating either to the kind or amount of shares of stock or securities or
property (including cash) receivable by Holders upon the conversion of their
Securities after any event referred to in such Section 10.05 or to any
adjustment to be made with respect thereto, but, subject to the provisions of
Section 7.01, may accept as conclusive evidence of the correctness of any such
provisions, and shall be protected in relying upon the Officer’s Certificate
(which the Company shall be obligated to file with the Trustee prior to the
execution of any such supplemental indenture) with respect thereto.

	
 

	
 

	
 

	
Section
  10.09. Notice to Holders Prior to Certain
  Actions. In case:

	
 

	
 

	
 

	
          (a)
  the Company shall declare a dividend (or any other distribution) on its
  Common Stock that would require an adjustment in the Conversion Rate pursuant
  to Section 10.04; or

	
 

	
 

	
 

	
          (b)
  the Company shall authorize the granting to the holders of all of its Common
  Stock of rights or warrants to subscribe for or purchase any share of any
  class or any other rights or warrants that would require an adjustment in the
  Conversion Rate pursuant to Section 10.04(b); or

	
 

	
 

	
 

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

	
 

	
 

	
 

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

the Company
shall cause to be filed with the Trustee and to be mailed to each Holder of
Securities at his address appearing on the register provided for in Section
2.03 of this Indenture, as promptly as possible but in any event at least ten
(10) days prior to the applicable date hereinafter specified, a notice stating
(x) the date on which a record is to be taken for the purpose of such dividend,
distribution of rights or warrants, or, if a record is not to be taken, the
date as of which the Holders of Common Stock of record to be entitled to such
dividend, distribution or rights are to be determined, or (y) the date on which
such reclassification, consolidation, merger, or statutory share exchange,
sale, transfer, dissolution, liquidation or

74

winding up is
expected to become effective or occur, and the date as of which it is expected
that holders of Common Stock of record shall be entitled to exchange their
Common Stock for securities or other property deliverable upon such
reclassification, consolidation, merger, or statutory share exchange, sale,
transfer, dissolution, liquidation or winding up. Failure to give such notice,
or any defect therein, shall not affect the legality or validity of such
dividend, distribution, reclassification, consolidation, merger, or statutory
share exchange, sale, transfer, dissolution, liquidation or winding up.

          Section
10.10. Shareholder Rights Plan. To the extent
that the Company has a rights plan in effect upon conversion of the Securities
into Common Stock, a Holder who converts Securities shall receive, in addition
to the Common Stock, the rights under the rights plan, unless prior to any
conversion, the rights have separated from the Common Stock, in which case the
Conversion Rate shall be adjusted at the time of separation as if the Company
distributed to all Holders of Common Stock, shares of the Company’s Capital
Stock, evidences of indebtedness or assets as described in Section 10.04(d)
above, subject to readjustment in the event of the expiration or termination of
such rights. In lieu of any such adjustment, the Company may amend such
applicable shareholder rights plan to provide that upon conversion of the
Securities the Holders shall receive, in addition to the Common Stock issuable
upon such conversion, the rights which would have attached to such Common Stock
if the rights had not become separated from the Common Stock under such
applicable shareholder rights agreement.

          Section
10.11. Unconditional Right of Holders to Convert. Notwithstanding any other provision in this Indenture, the Holder of
any Security shall have the right, which is absolute and unconditional, to
convert its Security in accordance with this Article 10 and to bring an action
for the enforcement of any such right to convert, and such rights shall not be
impaired or affected without the consent of such Holder.

ARTICLE 11

MISCELLANEOUS

          Section
11.01. Trust Indenture Act Controls. If any
provision of this Indenture limits, qualifies, or conflicts with another
provision which is required to be included in this Indenture by the TIA, the
required provision shall control.

          Section
11.02. Notices. Any request, demand,
authorization, notice, waiver, consent or communication by the Company or the
Trustee to the other is duly given if in writing and delivered in person or
mailed by first-class mail, postage prepaid, addressed as follows or
transmitted by facsimile transmission to the following facsimile numbers:

75

	
 

	
 

	
if to the
  Company:

	
 

	
 

	
St. Jude
  Medical, Inc.

	
 

	
One Lillehei
  Plaza

	
 

	
St. Paul,
  Minnesota 55117

	
 

	
Attn:
  General Counsel

	
 

	
Facsimile:
  (651) 483-2000

	
 

	
 

	
With a copy
  to:

	
 

	
 

	
Dorsey &
  Whitney LLP

	
 

	
50 South
  Sixth Street, Suite 1500

	
 

	
Minneapolis,
  Minnesota 55402

	
 

	
Attn: Gary
  L. Tygesson, Esq.

	
 

	
Facsimile:
  (612) 340-2868

	

if to the
  Trustee:

	
 

	
 

	
 

	
U.S. Bank
  National Association

	
 

	
60
  Livingston Avenue

	
 

	
St. Paul, MN
  55107

	
 

	
Attn:
  Corporate Trust Administration

	
 

	
Facsimile:
  (651) 495-8097

          The
Company or the Trustee by notice given to the other in the manner provided
above may designate additional or different addresses for subsequent notices or
communications.

          Any
notice or communication given to a Securityholder shall be delivered to the
Securityholder, in accordance with the procedures of the Registrar or by
first-class mail, postage prepaid, at the Securityholder’s address as it
appears on the registration books of the Registrar and shall be sufficiently
given if so mailed within the time prescribed.

          Failure
to mail a notice or communication to a Securityholder or any defect in it shall
not affect its sufficiency with respect to other Securityholders. If a notice
or communication is mailed in the manner provided above, it is duly given,
whether or not received by the addressee; provided, however, that no notice to
the Trustee shall be deemed to be duly given unless and until the Trustee
actually receives same at the address given above.

          If
the Company mails a notice or communication to the Securityholders, it shall
mail a copy to the Trustee and each Registrar, Paying Agent, Conversion Agent
or co-registrar.

          Section
11.03. Communication by Holders with Other Holders. Securityholders
may communicate pursuant to TIA Section 312(b) with other 

76

Securityholders
with respect to their rights under this Indenture or the Securities. The
Company, the Trustee, the Registrar, the Paying Agent, the Conversion Agent and
anyone else shall have the protection of TIA Section 312(c).

          Section 11.04. Certificate and Opinion as to
Conditions Precedent. Upon any request or application by the Company
to the Trustee to take any action under this Indenture, the Company shall
furnish to the Trustee: 

	
 

	
 

	
 

	
     (1)
  an Officer’s Certificate stating that, in the opinion of the signer, all
  conditions precedent, if any, provided for in this Indenture relating to the
  proposed action have been complied with; and

	
 

	
 

	
 

	
     (2)
  an Opinion of Counsel stating that, in the opinion of such counsel, all such
  conditions precedent have been complied with.

          Section
11.05. Statements Required in Certificate or Opinion. Each
Officer’s Certificate or Opinion of Counsel with respect to compliance with a
covenant or condition provided for in this Indenture shall include:

	
 

	
 

	
 

	
     (1)
  a statement that each person making such Officer’s Certificate or Opinion of
  Counsel 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
  Officer’s Certificate or Opinion of Counsel are based;

	
 

	
 

	
 

	
     (3)
  a statement that, in the opinion of each such person, he has made such
  examination or investigation as is necessary to enable such person to express
  an informed opinion as to whether or not such covenant or condition has been
  complied with; and

	
 

	
 

	
 

	
     (4)
  a statement that, in the opinion of such person, such covenant or condition
  has been complied with.

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

          Section
11.07. Rules by Trustee, Paying Agent, Conversion Agent and
Registrar. The Trustee may make reasonable rules for action by or a
meeting of Securityholders. The Registrar, the Conversion Agent and the Paying
Agent may make reasonable rules for their functions.

          Section
11.08. Legal Holidays. A “legal holiday” is any day
other than a Business Day. If any specified date (including a date for giving
notice) is a legal holiday, the action shall be taken on the next succeeding
day that is not a legal 

77

holiday, and,
if the action to be taken on such date is a payment in respect of the
Securities, no interest shall accrue with respect to such payment for the
intervening period.

          Section
11.09. Governing Law. THIS INDENTURE SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS RULES THEREOF.

          Section
11.10. No Recourse Against Others. A director,
officer, employee or stockholder, as such, of the Company shall not have any
liability for any obligations of the Company under the 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 Security, each Securityholder
shall waive and release all such liability. The waiver and release shall be
part of the consideration for the issue of the Securities.

          Section
11.11. Successors. All agreements of the Company
in this Indenture and the Securities shall bind its successor. All agreements
of the Trustee in this Indenture shall bind its successor.

          Section
11.12. Multiple Originals. The parties may sign
any number of copies of this Indenture. Each signed copy shall be an original,
but all of them together represent the same agreement. One signed copy is enough
to prove this Indenture.

78

          IN
WITNESS WHEREOF, the undersigned, being duly authorized, have executed this
Indenture on behalf of the respective parties hereto as of the date first above
written.

	
 

	
 

	
 

	
 

	
ST. JUDE MEDICAL, INC.

	
 

	
 

	
 

	
By:

	
/s/   John C. Heinmiller

	
 

	
 

	

	
 

	
 

	
Name:   John C. Heinmiller

	
 

	
 

	
Title:     Executive Vice President and Chief Financial Officer

	
 

	
 

	
 

	
 

	
U.S. BANK NATIONAL ASSOCIATION,
 as Trustee

	
 

	
 

	
 

	
 

	
By:

	
/s/   Richard Prokosch

	
 

	
 

	

	
 

	
 

	
Name:   Richard Prokosch

	
 

	
 

	
Title:     Vice President

EXHIBIT A

[FORM OF FACE OF GLOBAL SECURITY]

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

          TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO
TRANSFERS TO NOMINEES OF THE DEPOSITORY TRUST COMPANY, OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF
PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN ARTICLE TWO
OF THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.

          NEITHER THIS SECURITY NOR ANY SHARES OF COMMON STOCK
ISSUABLE ON CONVERSION OF THIS SECURITY HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY SHARES OF COMMON STOCK
ISSUABLE ON CONVERSION OF THIS SECURITY, NOR ANY INTEREST OR PARTICIPATION HEREIN OR THEREIN MAY BE REOFFERED, SOLD, ASSIGNED,
TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, (1) REPRESENTS THAT IT IS A
“QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”))(A
“QUALIFIED INSTITUTIONAL BUYER”); (2) AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS
PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER THIS SECURITY OR ANY COMMON STOCK ISSUABLE ON CONVERSION OF THIS
SECURITY, PRIOR TO THE EXPIRATION OF THE HOLDING PERIOD APPLICABLE TO SALES OF THIS SECURITY UNDER RULE 144(k) UNDER THE
SECURITIES ACT (OR ANY SUCCESSOR 

A-1

PROVISION), ONLY (A) TO ST. JUDE MEDICAL, INC. (THE “ISSUER”) OR A SUBSIDIARY THEREOF, (B) UNDER A
REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT (AND WHICH CONTINUES TO BE EFFECTIVE AT THE TIME
OF SUCH TRANSFER), (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE UNDER RULE 144A, IN COMPLIANCE WITH RULE 144A TO A
PERSON IT REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A
QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A OR (D) UNDER
ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE
TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER UNDER CLAUSE (D) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL,
CERTIFICATION AND/ OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM; AND (3) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM
THIS SECURITY IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. THIS LEGEND WILL BE REMOVED ON THE EARLIER OF
THE TRANSFER OF THIS SECURITY UNDER CLAUSE 2(B) ABOVE OR ON ANY TRANSFER OF THIS SECURITY UNDER RULE 144 UNDER THE SECURITIES ACT
(OR ANY SUCCESSOR PROVISION);

A-2

ST. JUDE MEDICAL, INC.

1.22% Convertible Senior Debentures Due 2008

	
 

	
 

	
CUSIP: 790849AC7

	
 

	
ISSUE DATE: April 25, 2007

	
Principal Amount: $1,200,000,000

	
No. 

	
 

          ST. JUDE MEDICAL, INC., a Minnesota corporation,
promises to pay to Cede & Co. or registered assigns, the principal amount of One Billion, Two Hundred Million Dollars, on
December 15, 2008.

          Interest Rate: 1.22% per year.

          Interest Payment Dates: June 15 and December 15 of
each year, commencing June 15, 2007.

          Interest Record Date: June 1 and December 1 of each
year.

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

A-3

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

	
 

	
 

	
 

	
Dated: April ___, 2007

	
ST. JUDE MEDICAL, INC.

	
 

	
 

	
 

	
By:

	
 

	
 

	

	
 

	
Name:

	
 

	
Title:

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

U.S. BANK NATIONAL ASSOCIATION, 
 as Trustee, certifies that this is one 
 of the Securities referred to in
the 
 within-mentioned Indenture.

	
 

	
 

	
By

	
 

	
 

	

	
Authorized Officer

	
 

	
Dated: April _____, 2007

A-4

[FORM OF REVERSE OF GLOBAL SECURITY]

1.22% Convertible Senior Debentures Due 2008

          This Security is one of a duly authorized issue of
1.22% Convertible Senior Debentures Due 2008 (the “Securities”) of St. Jude Medical, Inc., a Minnesota
corporation (including any successor corporation under the Indenture hereinafter referred to, the “Company”),
issued under an Indenture, dated as of April 25, 2007 (the “Indenture”), between the Company and U.S. Bank
National Association, as trustee (the “Trustee”). The terms of the Security include those stated in the
Indenture, those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (“TIA”),
and those set forth in this Security. This Security is subject to all such terms, and Holders are referred to the Indenture and
the TIA for a statement of all such terms. To the extent permitted by applicable law, in the event of any inconsistency between
the terms of this Security and the terms of the Indenture, the terms of the Indenture shall control. Capitalized terms used but
not defined herein have the meanings assigned to them in the Indenture unless otherwise indicated.

1. Interest.

          The Securities shall bear Interest on the principal
amount thereof at a rate of 1.22% per year. The Company shall pay Additional Amounts, if any, as set forth in Section 4.07 of the
Indenture and the Registration Rights Agreement. 

          Interest shall be payable semi-annually in arrears on
each Interest Payment Date to Holders at the close of business on the preceding Interest Record Date. Interest shall be computed
on the basis of a 360-day year comprised of twelve 30 day months.

          The Company shall pay Interest to the Securityholder
of record on the Interest Record Date even if the Securityholders elect to require the Company to repurchase, the Securities on a
date that is after an Interest Record Date but on or prior to the corresponding Interest Payment Date. In that instance, the
Company shall pay accrued and unpaid Interest on the Securities being repurchased to, but not including, the Fundamental Change
Repurchase Date to the Securityholder of record on the Interest Record Date.

          If the principal amount of any Security, or any
accrued and unpaid Interest or Additional Amounts, if any, are not paid when due (whether upon acceleration pursuant to Section
6.02 of the Indenture, upon the date set for payment of the Fundamental Change Repurchase Price pursuant to Section 4 hereof, upon
the Stated Maturity of the Securities, upon the Interest Payment Dates or upon the Additional Amounts Payment Dates (as defined in
the Registration Rights Agreement)), then in each such case the overdue amount shall, to the extent permitted by law, bear cash
interest at the rate of 1.22% per annum, 

A-5

compounded semi-annually, which interest shall accrue from the date such overdue amount was originally due to the
date payment of such amount, including interest thereon, has been made or duly provided for. All such interest shall be payable in
cash on demand but if not so demanded shall be paid quarterly to the Holders on the last day of each quarter. 

2. Method of Payment.

          Except as provided below, the Company shall pay
Interest, including Additional Amounts, if any, on (i) Global Securities, to DTC in immediately available funds, (ii) any
Certificated Security having an aggregate principal amount of $2,000,000 or less, by check mailed to the Holder of such Security
and (iii) any Certificated Security having an aggregate principal amount of more than $2,000,000, by wire transfer in immediately
available funds if requested by the Holder of any such Security as least five business days prior to the relevant Interest Payment
Date.

          At Stated Maturity, the Company shall pay Interest on
Certificated Securities at the Company’s office or agency maintained for that purpose, which initially shall be the office or
agency of the Trustee located at 60 Livingston Avenue, St. Paul, MN 55107.

          Subject to the terms and conditions of the Indenture,
the Company shall make payments in cash in respect of Fundamental Change Repurchase Prices and at Stated Maturity to Holders who
surrender Securities to a Paying Agent to collect such payments in respect of the Securities. The Company shall pay cash amounts
in money of the United States that at the time of payment is legal tender for payment of public and private debts. However, the
Company may make such cash payments by check payable in such money. 

3. Indenture.

          The Securities are general unsecured obligations of
the Company limited to $1,000,000,000 (or, to the extent the Initial Purchaser exercises its over-allotment option,
$1,200,000,000) aggregate principal amount. The Indenture does not limit other indebtedness of the Company, secured or
unsecured.

4. Purchase By the Company at the Option of the Holder.

          At the option of any Holder and subject to the terms
and conditions of the Indenture, the Company shall become obligated to repurchase the Securities held by such Holder after the
occurrence of a Fundamental Change for a Fundamental Change Repurchase Price equal to 100% of the principal amount of those
Securities plus accrued and unpaid Interest and accrued and unpaid Additional Amounts, if any, on those Securities up to, but not
including, the Fundamental Change Repurchase Date. To exercise such right, a Holder shall deliver to the Paying Agent a
Fundamental Change Repurchase Notice containing the 

A-6

information set forth in the Indenture at any time on or prior to the close of business on the Fundamental Change
Repurchase Date and shall deliver the Securities to the Paying Agent as set forth in the Indenture.

          Holders have the right to withdraw any Fundamental
Change Repurchase Notice by delivering to the Paying Agent a written notice of withdrawal in accordance with the provisions of the
Indenture.

          If cash sufficient to pay the Fundamental Change
Repurchase Price of all Securities or portions thereof to be purchased as of the Fundamental Change Repurchase Date is deposited
with the Paying Agent on the Business Day immediately following the Fundamental Change Repurchase Date, Interest and Additional
Amounts, if any, shall cease to accrue on such Securities (or portions thereof) on and following such Fundamental Change
Repurchase Date, and the Holder thereof shall have no other rights as such other than the right to receive the Fundamental Change
Repurchase Price upon surrender of such Security.

5. Conversion.

          Subject to the occurrence of certain events and in
compliance with the provisions of the Indenture (including, without limitation, the conditions to conversion of this Security set
forth in Section 10.01 thereof), a Holder is entitled, at such Holder’s option, to convert the Holder’s Security (or any
portion of the principal amount thereof that is $1,000 or an integral multiple of $1,000), into cash or a combination of cash and
fully paid and nonassessable shares of Common Stock at the Conversion Rate in effect at the time of conversion.

          The Company shall notify Holders of any event
triggering the right to convert the Securities as specified in the Indenture.

          A Security in respect of which a Holder has delivered
a Fundamental Change Repurchase Notice exercising the option of such Holder to require the Company to purchase such Security, may
be converted only if such Fundamental Change Repurchase Notice is withdrawn in accordance with the terms of the
Indenture.

          The initial Conversion Rate is 19.2101 shares of
Common Stock per $1,000 principal amount, subject to adjustment in certain events described in the Indenture. The Conversion Rate
shall not be adjusted for any accrued and unpaid Interest or accrued and unpaid Additional Amounts, if any. Upon conversion, no
payment shall be made by the Company with respect to accrued and unpaid Interest and accrued and unpaid Additional Amounts, if
any. Instead, such amount shall be deemed paid by the cash and shares of Common Stock, if any, delivered upon conversion of any
Security. In addition, no payment or adjustment shall be made in respect of dividends on the Common Stock, except as set forth in
the Indenture.

A-7

          In
addition, following certain corporate transactions as set forth in Section
10.01(b) of the Indenture that constitute a Change of Control, a Holder who
elects to convert its Securities in connection with such corporate transaction
shall be entitled to receive Additional Shares of Common Stock upon conversion,
subject to the terms and conditions set forth in Section 10.01(c) of the
Indenture. Notwithstanding the previous sentence, in the case of a Public
Acquirer Change of Control, the Company may, in lieu of increasing the
Conversion Rate by Additional Shares, elect to adjust the Conversion Rate and
Conversion Obligation such that from and after the effective date of such
Public Acquirer Change of Control, Holders of the Securities shall be entitled
to convert their Securities into a number of shares of Public Acquirer Common
Stock, as determined pursuant to Section 10.01(d) of the Indenture. 

          To
surrender a Security for conversion, a Holder must (1) complete and manually
sign the Conversion Notice attached hereto (or complete and manually sign a
facsimile of such notice) and deliver such notice to the Conversion Agent, (2)
surrender the Security to the Conversion Agent, (3) if required, furnish
appropriate endorsements and transfer documents, (4) if required by Section
10.02(g) of the Indenture, pay Interest and (5) pay any transfer or similar
tax, if required.

          No
fractional shares of Common Stock shall be issued upon conversion of any
Security. Instead of any fractional share of Common Stock that would otherwise
be issued upon conversion of such Security, the Company shall pay a cash
adjustment as provided in the Indenture.

          If
the Company engages in any reclassification of the Common Stock (other than a
subdivision or combination of its outstanding Common Stock, or a change in par
value, or from par value to no par value, or from no par value to par value) or
is party to a consolidation, merger, binding share exchange or transfer of all
or substantially all of its assets, and as a result of any such event the
Holders of Common Stock would be entitled to receive Exchange Property for
their Common Stock, upon conversion of the Securities after the effective date
of such event, the Conversion Obligation and the Conversion Settlement
Distribution shall be based on the applicable Conversion Rate and the Exchange
Property, in each case in accordance with the Indenture. If the transaction
also constitutes a Change of Control that would lead to the issuance of
Additional Shares as set forth in Section 10.01(c) of the Indenture, if a
Holder elects to convert all or a portion of its Securities, such Holder shall
receive Additional Shares upon conversion pursuant to Section 10.01(c) of the
Indenture, subject to the terms and conditions set forth in such Section.

A-8

9. Paying
Agent, Conversion Agent, Bid Solicitation Agent and Registrar.

          Initially,
the Trustee shall act as Paying Agent, Conversion Agent, Bid Solicitation Agent
and Registrar. The Company may appoint and change any Paying Agent, Conversion
Agent, Bid Solicitation Agent or Registrar without notice, other than notice to
the Trustee. The Company or any of its Subsidiaries or any of their Affiliates
may act as Paying Agent, Conversion Agent, Bid Solicitation Agent or Registrar.

10. Denominations; Transfer; Exchange.

          The Securities
are in fully registered form, without coupons, in denominations of $1,000 of
principal amount and integral multiples of $1,000. A Holder may transfer or
exchange Securities in accordance with the Indenture. The Registrar may require
a Holder, among other things, to furnish appropriate endorsements and transfer
documents and to pay any taxes and fees required by law or permitted by the
Indenture. The Registrar need not transfer or exchange any Securities in
respect of which a Fundamental Change Repurchase Notice has been given and not
withdrawn (except, in the case of a Security to be purchased in part, the
portion of the Security not to be purchased). 

11. Persons Deemed Owners.

          The
registered Holder of this Security may be treated as the owner of this Security
for all purposes.

12. Unclaimed Money or Securities. 

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

13. Amendment; Waiver.

          Subject
to certain exceptions set forth in the Indenture, (i) the Indenture or the
Securities may be amended with the written consent of the Holders of at least a
majority in aggregate principal amount of the outstanding Securities and (ii)
certain Events of Defaults may be waived with the written consent of the
Holders of a majority in aggregate principal amount of the outstanding
Securities. Subject to certain exceptions set forth in the Indenture, without
the consent of any Securityholder, the Company and the Trustee may amend the
Indenture or the Securities (i) to add guarantees with respect to the
Securities or secure the Securities, (ii) to remove any guarantee added to the
Securities pursuant to clause (i), unless such guarantee is required pursuant
to Section 5.01(a) of the Indenture, (iii) to conform as necessary, the
Indenture and this Security to the “Description 

A-9

of the
Debentures” as set forth in the Offering Memorandum, (iv) to add to the
covenants of the Company for the benefit of the Holders of Securities, (v) to
surrender any right or power conferred upon the Company in the Indenture, (vi)
to provide for conversion rights of Holders of Securities if any
reclassification or change of the Company’s Common Stock or any consolidation,
merger or sale of all or substantially all of the Company’s assets occurs,
(vii) provide for the assumption by a successor person (including in connection
with any Public Acquirer Changer of Control, if applicable) of the Company’s
obligations to the Holders of Securities in the case of a merger,
consolidation, sale conveyance, transfer, sale or lease as provided under the
Indenture, (viii) to change the Conversion Rate in accordance with the
Indenture; provided,
however, that any increase in the Conversion Rate other than pursuant to
Article 10 shall not adversely affect the interests of the Holders of
Securities (after taking into account U.S. federal income tax and other
consequences of such increase), (ix) give effect to the election, if any, by
the Company described in Section 10.01(d) of the Indenture upon the occurrence
of a Public Acquirer Change of Control, (x) to comply with the requirements of
the SEC in order to effect or maintain the qualification of the Indenture under
the TIA, (xi) to cure any ambiguity or to correct or supplement any provision
in the Indenture which may be inconsistent with any other provision in the
Indenture or which is otherwise defective; provided, however, that any such
change or modification does not, in the good faith opinion of the Board of
Directors of the Company (as evidenced by a Board Resolution) and the Trustee,
adversely affect the interests of the Holders of Securities in any material
respect, (xii) make other changes to the Indenture or forms or terms of the
Securities so long as no such change individually or in the aggregate with all
other such changes has or will have a material adverse effect on the interests
of the Holders of the Securities, (xiii) to establish the form of Securities if
issued in definitive form and (xiv) to evidence and provide for the acceptance
of the appointment under the Indenture of a successor Trustee.

14. Defaults and Remedies.

          As
set forth in the Indenture, subject to certain exceptions, if any Event of
Default with respect to Securities shall occur and be continuing, the principal
amount of the Securities and any accrued and unpaid Interest and accrued and
unpaid Additional Amounts, if any, on all the Securities may be declared due
and payable in the manner and with the effect provided in the Indenture.

15. Trustee Dealings with the Company.

          Subject
to certain limitations imposed by the TIA, the Trustee under the Indenture, in
its individual or any other capacity, may become the owner or pledgee of
Securities and may otherwise deal with and collect obligations owed to it by
the Company or its Affiliates and may otherwise deal with the Company or its
Affiliates with the same rights it would have if it were not Trustee.

A-10

16. Calculations in Respect of Securities.

          The
Company or its agents shall be responsible for making all calculations called
for under the Securities including, but not limited to, determination of the
market prices for the Securities and of the Common Stock and the Additional
Amounts, if any, accrued on the Securities. Any calculations made in good faith
and without manifest error shall be final and binding on Holders of the
Securities. The Company or its agents shall be required to deliver to the
Trustee a schedule of its calculations and the Trustee shall be entitled to
conclusively rely upon the accuracy of such calculations without independent
verification.

17. No Recourse Against Others.

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

18. Authentication.

          This
Security shall not be valid until an authorized signatory of the Trustee
manually signs the Trustee’s Certificate of Authentication on the other side of
this Security.

19. Abbreviations.

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

20. Governing Law.

          THE
LAWS OF THE STATE OF NEW YORK SHALL GOVERN THE INDENTURE AND THIS SECURITY,
WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS RULES THEREOF.

21. Copy of Indenture.

          The
Company shall furnish to any Securityholder upon written request and without
charge a copy of the Indenture which has in it the text of this Security in
larger type. Requests may be made to:

          St.
Jude Medical, Inc.

A-11

	
 

	
 

	
 

	
One Lillehei
  Plaza

	
 

	
St. Paul,
  Minnesota 55117

	
 

	
Attn:
  General Counsel 

	
 

	
Facsimile
  No.:
  651-481-7690

22. Registration Rights.

          The Holders of the Securities are entitled to the
benefits of a Registration Rights Agreement, dated April 25, 2007, between the Company and Banc of America
Securities LLC, as representative of the initial purchasers, including the right to receive Additional Amounts upon a Registration
Default (as defined in such agreement). The Company shall make payments of Additional Amounts on the Additional Amounts Payment
Dates (as defined in the Registration Rights Agreement), but otherwise in accordance with the provisions set forth herein for the
payment of Interest.

A-12

	
 

	
 

	
 

	
ASSIGNMENT
FORM 

	
  

	
CONVERSION
NOTICE 

	

	
 

	

	
To assign
  this Security, fill in the form below:

	
 

	
To convert
  this Security, check the box
  [     ]

	
 

	
 

	
 

	
I or we
  assign and transfer this Security to

  (Insert assignee’s soc. sec. or tax ID no.)

  (Print or type assignee’s name, address and zip code) 

  

  and irrevocably appoint

  

_____________________ agent to transfer this Security on the books of the
  Company. The agent may substitute another to act for him.
	
 

	
To convert
  only part of this Security, state the principal amount to be converted (which
  must be $1,000 or an integral multiple of $1,000): 

If you want the stock
  certificate made out in another person’s name fill in the form below:

(Insert the other person’s soc. sec. tax ID no.)

  (Print or type other person’s name, address and zip code)

	
 

	
 

	
 

	
 

	
 

	
Date: 

	
 

	
 Your
  Signature: 

	
 

	
 

	
 

	

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	

	
(Sign
  exactly as your name appears on the other side of this Security)

	
 

	
 

	
 

	
Signature
  Guaranteed

	

	
 

	
 

	
 

	
Participant
  in a Recognized Signature

	
 

	
 

	
 

	
Guarantee
  Medallion Program

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	

	
 

	
 

	
Authorized Signatory

	
 

A-13

SCHEDULE OF INCREASES AND DECREASES 

OF GLOBAL SECURITY

Initial
Principal Amount of Global Security: ______________________________
($_________________).

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Date

	
 

	
Amount of 

  Increase in 

  Principal

  Amount of 

  Global 

  Security

	
 

	
Amount of 

  Decrease in 

  Principal 

  Amount of 

  Global 

  Security

	
 

	
Principal 

  Amount of 

  Global 

  Security After 

  Increase or 

  Decrease

	
 

	
Notation
  by 

  Registrar or 

  Security 

  Custodian

	
 

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

A-14

EXHIBIT B

[FORM OF FACE OF CERTIFICATED SECURITY]

          NEITHER
THIS SECURITY NOR ANY SHARES OF COMMON STOCK ISSUABLE ON CONVERSION OF THIS
SECURITY HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION.
NEITHER THIS SECURITY NOR ANY SHARES OF COMMON STOCK ISSUABLE ON CONVERSION OF
THIS SECURITY, NOR ANY INTEREST OR PARTICIPATION HEREIN OR THEREIN MAY BE
REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS
EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY,
BY ITS ACCEPTANCE HEREOF, (1) REPRESENTS THAT IT IS A “QUALIFIED INSTITUTIONAL
BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”)) (A “QUALIFIED
INSTITUTIONAL BUYER”); (2) AGREES ON
ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED
SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER THIS SECURITY OR ANY COMMON
STOCK ISSUABLE ON CONVERSION OF THIS SECURITY, PRIOR TO THE EXPIRATION OF THE
HOLDING PERIOD APPLICABLE TO SALES OF THIS SECURITY UNDER RULE 144(k) UNDER THE
SECURITIES ACT (OR ANY SUCCESSOR PROVISION), ONLY (A) TO ST. JUDE MEDICAL, INC.
(THE “ISSUER”) OR A SUBSIDIARY THEREOF, (B) UNDER A REGISTRATION STATEMENT THAT
HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT (AND WHICH CONTINUES TO BE
EFFECTIVE AT THE TIME OF SUCH TRANSFER), (C) FOR SO LONG AS THE SECURITIES ARE
ELIGIBLE FOR RESALE UNDER RULE 144A, IN COMPLIANCE WITH RULE 144A TO A PERSON
IT REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER THAT PURCHASES FOR
ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM
NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A OR (D)
UNDER ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY
SUCH OFFER, SALE OR TRANSFER UNDER CLAUSE (D) TO REQUIRE THE DELIVERY OF AN
OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH
OF THEM; AND (3) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS
SECURITY IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.
THIS LEGEND WILL BE REMOVED ON THE EARLIER OF THE TRANSFER OF THIS SECURITY
UNDER CLAUSE 2(B) ABOVE OR ON ANY TRANSFER OF 

B-1

THIS SECURITY UNDER RULE 144 UNDER THE SECURITIES ACT (OR ANY SUCCESSOR
PROVISION);

B-2

ST. JUDE MEDICAL, INC.

1.22% Convertible Senior Debentures Due 2008

	
 

	
 

	
 

	
CUSIP: 790849AC7

	
 

	
 

	
ISSUE DATE: April 25, 2007

	
 

	
Principal Amount: $[     ]

	
No.

	
 

	
 

          ST. JUDE MEDICAL, INC., a Minnesota corporation,
promises to pay to __________ or registered assigns, the principal amount of _____________________, on December 15,
2008.

          Interest Rate: 1.22% per year.

          Interest Payment Dates: December 15 and June 15 of
each year, commencing June 15, 2007.

          Interest Record Date: December 1 and June 1 of each
year. 

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

B-3

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

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Dated: 

	
 

	
 

	
ST. JUDE
  MEDICAL, INC.

	
 

	

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	
 

	
 

	

	

	
 

	
 

	
Title: 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
TRUSTEE’S
  CERTIFICATE OF AUTHENTICATION

	
 

	
 

	
 

	
__________________________,

  U.S. Bank National Association

  as Trustee, certifies that this is one 

  of the Securities referred to in the 

  within-mentioned Indenture.

	
 

	
 

	
 

	
By

	
 

	
 

	
 

	
 

	

	

	
 

	
Authorized Signatory

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Dated: 

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

B-4

[FORM OF REVERSE OF CERTIFICATED SECURITY IS
IDENTICAL TO
EXHIBIT A]

B-5

EXHIBIT C

ST. JUDE MEDICAL, INC.

1.22% Convertible Senior Subordinated Notes due 2008

Transfer Certificate

          In connection with any transfer of any of the
Securities within the period prior to the expiration of the holding period applicable to the sales thereof under Rule 144(k) under
the Securities Act of 1933, as amended (the “Securities Act”) (or any successor provision), the undersigned
registered owner of this Security hereby certifies with respect to $____________ principal amount of the above-captioned
Securities presented or surrendered on the date hereof (the “Surrendered Securities”) for registration of
transfer, or for exchange or conversion where the securities issuable upon such exchange or conversion are to be registered in a
name other than that of the undersigned registered owner (each such transaction being a “transfer”), that such
transfer complies with the restrictive legend set forth on the face of the Surrendered Securities for the reason checked
below:

	
 

	
 

	
 

	
 

	
o

	
A transfer
  of the Surrendered Securities is made to the Company or any subsidiaries; or

	
 

	
 

	
 

	
 

	
o

	
The transfer
  of the Surrendered Securities is pursuant to an effective registration
  statement under the Securities Act; or

	
 

	
 

	
 

	
 

	
o

	
The transfer
  of the Surrendered Securities complies with Rule 144A under the Securities
  Act; or

	
 

	
 

	
 

	
 

	
o

	
The transfer
  of the Surrendered Securities is pursuant to Rule 144 under the Securities
  Act and each of the conditions set forth in such rule have been met; 

	
 

	
 

	
 

	
and unless
  the box below is checked, the undersigned confirms that, to the undersigned’s
  knowledge, such Securities are not being transferred to an “affiliate” of the
  Company as defined in Rule 144 under the Securities Act (an “Affiliate”).

C-1

	
 

	
 

	
 

	
 

	
o

	
The
  transferee is an Affiliate of the Company.

	
 

	
 

	
 

	
DATE: 

	

	
 

	
Signature(s)

	
 

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

	
 

	
 

	
Signature
  Guaranteed

	
 

	
 

	
 

	

	
 

	
Participant
  in a Recognized Signature

	
 

Name:

Address: 

Tax I.D.:

C-2

EXHIBIT D

ST. JUDE MEDICAL, INC.

NOTICE OF OCCURRENCE

OF FUNDAMENTAL CHANGE

[DATE]

To the Holders of the 1.22% Convertible Senior Debentures Due 2008 (the “Securities”) issued by St. Jude
Medical, Inc.:

          St. Jude Medical, Inc. (the “Issuer”) by
this written notice hereby notifies you, pursuant to Section 3.02 of that certain Indenture (the “Indenture”), dated as
of April 25, 2007, between the Issuer and U.S. Bank National Association, that a Fundamental Change (as such term and other
capitalized terms used herein and not otherwise defined herein is defined in the Indenture) as described below has occurred.
Included herewith is the form of Fundamental Change Repurchase Notice to be completed by you if you wish to have your Securities
repurchased by the Issuer.

1.          Fundamental Change: [Insert brief description of the
Fundamental Change and the date of the occurrence thereof]. 

2.          Date by which Fundamental Change Repurchase Notice
must be delivered by you to Paying Agent in order to have your Securities repurchased:

3.          Fundamental Change Repurchase Date:

4.          Fundamental Change Repurchase Price:

5.          Paying Agent and Conversion Agent: [NAME]
[ADDRESS]

6.          Conversion Rate: To the extent described in Item 7
below, each $1,000 principal amount of the Securities is convertible into [insert number of shares] shares of the Issuer’s
common stock, par value $0.10 per share (the “Common Stock”), subject to adjustment.

7.          The Securities as to which you have delivered a
Fundamental Change Repurchase Notice to the Paying Agent may be converted if they are otherwise convertible pursuant to Article 10
of the Indenture and the terms of the Securities only if you withdraw such Fundamental Change Repurchase Notice pursuant to the
terms of the Indenture. You may be entitled to have your Securities converted into cash or a combination of cash and shares of the
Issuer’s common stock:

	
 

	
 

	
 

	
          (i) during any fiscal quarter of the Issuer commencing
after June 30, 2007 (and only during such fiscal quarter), if the last reported sale price  

D-1

	
 

	
 

	
 

	
(as defined in the Indenture) of the Issuer’s common stock for at least 20 trading days in the 30 trading-day
period ending on the last trading day of the preceding fiscal quarter was more than 130% of the conversion price (as defined in
the Indenture) on such last trading day; 

          (ii) during the five
business days immediately after any five consecutive trading-day period in which the trading price (as defined in the Indenture)
per $1,000 principal amount of the Securities for each day of that period was less than 98% of the product of the Last Reported
Sale Price of the Common Stock and the Conversion Rate (as defined in the Indenture) of the Securities on each such
day;

	
 

	
 

	
 

	
          (iii)
  on or after October 15, 2008; or

	
 

	
 

	
 

	
          (iv)
  upon the occurrence of certain specified corporate transactions described in
  the Indenture.

8.          The
Securities as to which you have delivered a Fundamental Change Repurchase
Notice must be surrendered by you (by effecting book entry transfer of the
Securities or delivering Certificated Securities, together with necessary
endorsements, as the case may be) to [Name of Paying Agent] at [insert address]
in order for you to collect the Fundamental Change Repurchase Price.

9.          The
Fundamental Change Repurchase Price for the Securities as to which you have
delivered a Fundamental Change Repurchase Notice and not withdrawn such Notice
shall be paid promptly following the later of the Business Day immediately
following such Fundamental Change Repurchase Date and the date you deliver such
Securities to [Name of Paying Agent].

10.          In order to have the Issuer repurchase your
Securities, you must deliver the Fundamental Change Repurchase Notice, duly completed by you with the information required by such
Fundamental Change Repurchase Notice (as specified in Section 3.02 of the Indenture) and deliver such Fundamental Change
Repurchase Notice to the Paying Agent at any time until 5:00 p.m. (New York City Time) on the Fundamental Change Repurchase
Date.

11.          In order to withdraw any Fundamental Change
Repurchase Notice previously delivered by you to the Paying Agent, you must deliver to the Paying Agent, by 5:00 p.m. on the
Fundamental Change Repurchase Date, a written notice of withdrawal specifying (i) the certificate number, if any, of the
Securities in respect of which such notice of withdrawal is being submitted, (ii) the principal amount of the Securities in
respect of which such notice of withdrawal is being submitted, and (iii) if you are not withdrawing your Fundamental Change
Repurchase Notice for all of your Securities, the principal amount of the 

D-2

Securities which still remain subject to the original Fundamental Change Repurchase Notice.

12.          Unless the Issuer defaults in making the payment of
the Fundamental Change Repurchase Price owed to you, Interest and Additional Amounts, if any, on your Securities as to which you
have delivered a Fundamental Change Repurchase Notice shall cease to accrue on and after the Fundamental Change Repurchase
Date.

13.          Cusip Number: [         ]

ST. JUDE MEDICAL, INC.

D-3

SCHEDULE I

The following table sets forth the Stock Prices and the number of Additional Shares per $1,000 principal amount of
Securities.

		Stock Price
	Effective Date 	 	 	$	  43.38	 	$	  45.00	 	$	  47.50	 	$	  50.00	 	$	  52.06	 	$	  55.00	 	$	  60.00	 	$	  70.00	 	$	  80.00	 	$	  90.00	 	$	 100.00	 	$	 110.00	 	$	 120.00	 	$	 130.00	 
	 	

	19-Apr-07	 	 	 	3.84	 	 	3.31	 	 	2.63	 	 	2.08	 	 	1.70	 	 	1.29	 	 	0.81	 	 	0.33	 	 	0.16	 	 	0.09	 	 	0.06	 	 	0.04	 	 	0.03	 	 	0.02	 
	15-Jun-07	 	 	 	3.84	 	 	3.28	 	 	2.58	 	 	2.02	 	 	1.64	 	 	1.23	 	 	0.74	 	 	0.29	 	 	0.13	 	 	0.07	 	 	0.05	 	 	0.04	 	 	0.03	 	 	0.02	 
	15-Sep-07	 	 	 	3.84	 	 	3.21	 	 	2.48	 	 	1.91	 	 	1.53	 	 	1.11	 	 	0.64	 	 	0.22	 	 	0.09	 	 	0.05	 	 	0.04	 	 	0.03	 	 	0.02	 	 	0.01	 
	15-Dec-07	 	 	 	3.84	 	 	3.17	 	 	2.38	 	 	1.78	 	 	1.39	 	 	0.97	 	 	0.51	 	 	0.15	 	 	0.06	 	 	0.03	 	 	0.02	 	 	0.02	 	 	0.01	 	 	0.01	 
	15-Mar-08	 	 	 	3.84	 	 	3.14	 	 	2.26	 	 	1.63	 	 	1.23	 	 	0.81	 	 	0.37	 	 	0.08	 	 	0.02	 	 	0.02	 	 	0.01	 	 	0.01	 	 	0.01	 	 	0.00	 
	15-Jun-08	 	 	 	3.84	 	 	3.11	 	 	2.11	 	 	1.44	 	 	1.02	 	 	0.60	 	 	0.21	 	 	0.01	 	 	0.00	 	 	0.00	 	 	0.00	 	 	0.00	 	 	0.00	 	 	0.00	 
	15-Sep-08	 	 	 	3.84	 	 	3.04	 	 	1.93	 	 	1.18	 	 	0.73	 	 	0.32	 	 	0.03	 	 	0.00	 	 	0.00	 	 	0.00	 	 	0.00	 	 	0.00	 	 	0.00	 	 	0.00	 
	15-Dec-08	 	 	 	3.84	 	 	3.01	 	 	1.84	 	 	0.79	 	 	0.00	 	 	0.00	 	 	0.00	 	 	0.00	 	 	0.00	 	 	0.00	 	 	0.00	 	 	0.00	 	 	0.00	 	 	0.00Exhibit 4.2 to St. Jude Medical, Inc. Form 8-K dated April 19, 2007

Exhibit 4.2 

BANC OF AMERICA SECURITIES LLC

$1,000,000,000 AGGREGATE PRINCIPAL AMOUNT

ST. JUDE MEDICAL, INC.

1.22% CONVERTIBLE SENIOR DEBENTURES

DUE 2008

Registration Rights Agreement

dated as of April 25, 2007

          REGISTRATION RIGHTS AGREEMENT, dated as of April 25,
2007, between St. Jude Medical, Inc., a Minnesota corporation (together with any successor entity, herein referred to as the
“Company”), and Banc of America Securities LLC, as initial purchaser (the “Initial Purchaser” or
the “Representative”) under the Purchase Agreement (as defined below).

          Pursuant to the Purchase Agreement, dated as of April
19, 2007, between the Company and Banc of America Securities LLC (the “Purchase Agreement”), relating to the
initial placement (the “Initial Placement”) of the Debentures (as defined below), the Initial Purchaser has
agreed to purchase from the Company $1,000,000,000 ($1,200,000,000 if the Initial Purchaser exercises its over-allotment option in
full) in aggregate principal amount of 1.22% Convertible Senior Debentures due 2008 (the “Debentures”). The
Debentures will be convertible, subject to the terms thereof, into cash and fully paid, nonassessable shares of common stock, par
value $0.10 per share, if any, of the Company (the “Common Stock”). The Debentures will be convertible on the
terms, and subject to the conditions, set forth in the Indenture (as defined herein). To induce the Initial Purchaser to purchase
the Debentures, the Company has agreed to provide the registration rights set forth in this Agreement pursuant to Section 5(g) of
the Purchase Agreement. 

          The
parties hereby agree as follows:

          1.
Definitions.
Capitalized terms used in this Agreement without definition shall
have their respective meanings set forth in the Purchase Agreement. As
used in this Agreement, the following capitalized terms shall have the
following meanings:

          “Additional Amounts”: As defined in Section
3(a) hereof.

          “Additional Amounts Payment Date”: Each June
15 and December 15.

          “Affiliate” of any specified person means any other person
which, directly or indirectly, is in control of, is controlled by, or is under
common control with, such specified person. For purposes of this definition,
control of a person means the power, direct or indirect, to direct or cause the
direction of the management and policies of such person whether by contract or
otherwise; and the terms “controlling” and “controlled” have meanings
correlative to the foregoing.

          “Agreement”:
This Registration Rights Agreement.

          “Amendment Effectiveness Deadline Date”: As
defined in Section 2(f) hereof.

          “Automatic Shelf Registration Statement”: An
automatic shelf registration statement within the meaning of Rule 405 under the
Securities Act.

          “Blue Sky
Application”: As defined in Section 6(a)(i) hereof.

          “Business Day”:
The definition of “Business Day” in the Indenture.

          “Closing Date”:
The date of the first issuance of the Debentures.

          “Commission”:
The Securities and Exchange Commission.

          “Common Stock”:
As defined in the preamble hereto.

          “Company”:
As defined in the preamble hereto.

          “Debentures”:
As defined in the preamble hereto.

          “Effectiveness
Period”: As defined in Section 2(a)(iii) hereof.

          “Effectiveness
Target Date”: As defined in Section 2(a)(ii) hereof.

          “Exchange Act”:
The Securities Exchange Act of 1934, as amended.

          “Holder”:
A Person who owns, beneficially or otherwise, Transfer Restricted Securities.

          “Initial Placement”: As defined in the
preamble hereto.

          “Indemnified
Holder”: As defined in Section 6(a) hereof.

          “Indenture”:
The Indenture, dated as of April 25, 2007 between the Company and U.S. Bank
National Association, as trustee (the “Trustee”), pursuant to which the
Debentures are to be issued, as such Indenture is amended, modified or
supplemented from time to time in accordance with the terms thereof. 

          “Initial
Purchaser”: As defined in the preamble hereto.

          “Majority of
Holders”: Holders holding over 50% of the aggregate principal amount
of Debentures outstanding; provided that, for the purpose of this definition, a
holder of shares of Common Stock which constitute Transfer Restricted
Securities and were issued upon conversion of the Debentures shall be deemed to
hold an aggregate principal amount of the Debentures (in addition to the
principal amount of the Debentures held by such holder) equal to the quotient
of (x) the number of such shares of Common Stock held by such holder and (y)
the conversion rate in effect at the time of such conversion as determined in
accordance with the Indenture.

          “NASD”:
The National Association of Securities Dealers, Inc. 

2

          “Notice and Questionnaire”: A written notice
executed by a Holder and delivered to the Company containing substantially the
information called for by the Form of Selling Securityholder Notice and
Questionnaire attached as Annex A to the Offering Memorandum of the Company
relating to the Debentures.

          “Notice
Holder”: On any date, any Holder of Transfer Restricted Securities
that has delivered a Notice and Questionnaire to the Company on or prior to
such date.

          “Person”:
An individual, partnership, corporation, company, unincorporated organization,
trust, joint venture or a government or agency or political subdivision
thereof, or another entity.

          “Purchase
Agreement”: As defined in the preamble hereto.

          “Prospectus”:
The prospectus included in a Shelf Registration Statement, as amended or
supplemented by any prospectus supplement and by all other amendments thereto,
including post-effective amendments, and all material incorporated by reference
into such prospectus.

          “Record
Holder”: With respect to any Additional Amounts Payment Date, each
Person who is a Holder on the Interest Record Date (as defined in the
Indenture) for the Debentures, as set forth in the Indenture, immediately
preceding the relevant Additional Amounts Payment Date. 

          “Registration
Default”: As defined in Section 3(a) hereof.

          “Representative”:
As defined in the preamble hereto.

          “Securities
Act”: The Securities Act of 1933, as amended.

          “Shelf Filing
Deadline”: As defined in Section 2(a)(i) hereof.

          “Shelf
Registration Statement”: As defined in Section 2(a)(i) hereof.

          “Subsequent Shelf Registration Statement”:
As defined in Section 2(c) hereof.

          “Suspension
Notice”: As defined in Section 4(c) hereof.

          “Suspension
Period”: As defined in Section 4(b)(i) hereof.

          “TIA”:
The Trust Indenture Act of 1939, as amended, and the rules and regulations of
the Commission thereunder, in each case, as in effect on the date the Indenture
is qualified under the TIA.

3

          “Transfer
Restricted Securities”: Each Debenture and each share of Common
Stock issued upon conversion of Debentures until the earliest of:

	
 

	
 

	
 

	
          (i)
  the date on which such Debenture or such share of Common Stock issued upon
  conversion has been effectively registered under the Securities Act and
  disposed of in accordance with the Shelf Registration Statement;

	
 

	
 

	
 

	
          (ii)
  the date on which such Debenture or such share of Common Stock issued upon
  conversion is transferred in compliance with Rule 144 under the Securities
  Act or may be sold or transferred by a person who is not an affiliate of the
  Company pursuant to Rule 144 under the Securities Act (or any other similar
  provision then in force) without any volume or manner of sale restrictions
  thereunder; or

	
 

	
 

	
 

	
          (iii)
  the date on which such Debenture or such share of Common Stock issued upon
  conversion ceases to be outstanding (whether as a result of redemption,
  repurchase and cancellation, conversion or otherwise).

          “Underwriter”: Any underwriter of Debentures
in connection with an offering thereof under the Shelf Registration Statement.

          “WKSI”: A “well known seasoned issuer” as
defined in Rule 405 under the Securities Act.

          Unless
the context otherwise requires, the singular includes the plural, and words in
the plural include the singular.

	
 

	
 

	
 

	
 

	
 

	
2. Shelf Registration.

	
 

	
 

	
 

	
 

	
 

	
(a) The Company
  shall: 

	
 

	
 

	
 

	
 

	
 

	
 

	
          (i)
  not later than 180 days after the Closing Date (the “Shelf Filing Deadline”),
  cause to be filed a registration statement pursuant to Rule 415 under the
  Securities Act or any similar rule that may be adopted by the Commission (the
  “Shelf
  Registration Statement”), which Shelf Registration Statement shall
  be an Automatic Shelf Registration Statement if the Company is then a WKSI
  and shall provide for the registration and resales, on a continuous or
  delayed basis, of all Transfer Restricted Securities held by Holders that
  have provided the information required pursuant to the terms of Section 2(b)
  hereof;

	
 

	
 

	
 

	
 

	
 

	
 

	
          (ii)
  if the Company is not a WKSI when the shelf registration statement is filed
  and therefore did not file an Automatic Shelf Registration Statement, use its
  reasonable best 

4

	
 

	
 

	
 

	
 

	
 

	
 

	
efforts to
  cause the Shelf Registration Statement to be declared effective under the
  Securities Act by the Commission not later than 220 days after the date
  hereof (the “Effectiveness Target Date”); and

	
 

	
 

	
 

	
 

	
 

	
 

	
          (iii)
  use its reasonable best efforts to keep the Shelf Registration Statement
  continuously effective, supplemented and amended as required by the
  Securities Act and by the provisions of Section 4(b) hereof to the extent
  necessary to ensure that (A) it is available for resales by the Holders of
  Transfer Restricted Securities entitled, subject to Section 2(b), to the
  benefit of this Agreement and (B) it conforms with the requirements of this
  Agreement and the Securities Act and the rules and regulations of the
  Commission promulgated thereunder as announced from time to time, for a
  period (the “Effectiveness Period”) from the date the Shelf Registration
  Statement becomes or is declared effective by the Commission until the
  earliest of:

	
 

	
 

	
 

	
          (1)
  two years following the last date of original issuance of any of the
  Debentures;

	
 

	
 

	
 

	
          (2)
  the date when the Holders of Transfer Restricted Securities are able to sell
  all such Transfer Restricted Securities immediately without restriction
  pursuant to Rule 144(k) under the Securities Act; or

	
 

	
 

	
 

	
          (3)
  the date when (a) all of the Transfer Restricted Securities of those Holders
  that complete and deliver in a timely manner the Notice and Questionnaire are
  registered under the Shelf Registration Statement and disposed of either in
  accordance with the Shelf Registration Statement or pursuant to Rule 144
  under the Securities Act or any similar rule that may be adopted by the
  Commission or (b) the Transfer Restricted Securities cease to be outstanding.

          The
Company shall be deemed not to have used its reasonable best efforts to keep
the Shelf Registration Statement effective during the Effectiveness Period if
it voluntarily takes any action that would result in Holders of Transfer
Restricted Securities not being able to offer and sell such Securities at any
time during the Effectiveness Period, unless such action is (x) required by
applicable law or otherwise undertaken by the Company in good faith and for
valid business reasons (not including avoidance of the Company’s obligations
hereunder), including the acquisition or divestiture of assets, and (y)
permitted by Section 4(b)(ii) hereof.

5

	
 

	
 

	
 

	
 

	
          (b)
  At the time the Shelf Registration Statement becomes or is declared
  effective, each Holder that became a Notice Holder on or prior to the date
  twenty (20) days prior to such time of effectiveness shall be named as a
  selling securityholder in the Shelf Registration Statement and the related
  Prospectus in such a manner as to permit such Holder to deliver such Prospectus
  to purchasers of Transfer Restricted Securities in accordance with applicable
  law. None of the Company’s securityholders (other than the Holders of
  Transfer Restricted Securities) shall have the right to include any of the
  Company’s securities in the Shelf Registration Statement.

	
 

	
 

	
 

	
          (c)
  If the Shelf Registration Statement or any Subsequent Shelf Registration
  Statement ceases to be effective for any reason at any time during the
  Effectiveness Period (other than because all Transfer Restricted Securities
  registered thereunder shall have been resold pursuant thereto or shall have
  otherwise ceased to be Transfer Restricted Securities), the Company shall use
  its reasonable best efforts to obtain the prompt withdrawal of any order
  suspending the effectiveness thereof or file an additional Shelf Registration
  Statement (which shall be an Automatic Shelf Registration Statement if the
  Company is then a WKSI) covering all of the securities that as of the date of
  such filing are Transfer Restricted Securities (a “Subsequent Shelf Registration Statement”). If a Subsequent
  Shelf Registration Statement is filed and is not an Automatic Shelf
  Registration Statement, the Company shall use its reasonable best efforts to
  cause the Subsequent Shelf Registration Statement to become effective as
  promptly as is practicable after such filing and shall in all cases use
  reasonable best efforts to keep such Shelf Registration Statement (or
  Subsequent Shelf Registration Statement) continuously effective until the end
  of the Effectiveness Period.

	
 

	
 

	
 

	
          (d)
  The Company shall supplement and amend the Shelf Registration Statement if
  required by the rules, regulations or instructions applicable to the
  registration form used by the Company for such Shelf Registration Statement,
  if required by the Securities Act or as reasonably requested by the Initial
  Purchaser or by the Trustee on behalf of the Holders of the Transfer
  Restricted Securities covered by such Shelf Registration Statement.

	
 

	
 

	
 

	
          (e)
  The Company shall cause the Shelf Registration Statement and the related
  Prospectus and any amendment or supplement thereto, as of the effective date
  of the Shelf Registration Statement or such amendment or supplement, (i) to
  comply in all material respects with the applicable requirements of the
  Securities Act, and (ii) not to contain any untrue statement of a material
  fact or omit to state a material fact required to be stated therein or
  necessary in order to make the statements therein (in 

6

	
 

	
 

	
 

	
the case of
  the Prospectus, in the light of the circumstances under which they were made)
  not misleading.

	
 

	
 

	
 

	
          (f)
  Each Holder agrees that if such Holder wishes to sell Transfer Restricted
  Securities pursuant to a Shelf Registration Statement and related Prospectus,
  it will do so only in accordance with this Section 2(f) and Section 4(b).
  Each Holder wishing to sell Transfer Restricted Securities pursuant to a
  Shelf Registration Statement and related Prospectus agrees to deliver a
  Notice and Questionnaire to the Company at least twenty (20) Business Days
  prior to any intended distribution of Transfer Restricted Securities under
  the Shelf Registration Statement. From and after the date the Shelf
  Registration Statement becomes or is declared effective, the Company shall,
  as promptly as practicable after the date a Notice and Questionnaire is
  delivered to it, and in any event upon the later of (x) twenty (20) Business
  Days after such date (but no earlier than twenty (20) Business Days after
  effectiveness) or (y) twenty (20) Business Days after the expiration of any
  Suspension Period in effect when the Notice and Questionnaire is delivered or
  put into effect within twenty (20) Business Days of such delivery date:

	
 

	
 

	
 

	
 

	
 

	
          (i)
  if required by applicable law, file with the Commission a post-effective
  amendment to the Shelf Registration Statement or prepare and, if required by
  applicable law, file a supplement to the related Prospectus or a supplement
  or amendment to any document incorporated therein by reference or file any
  other required document so that the Holder delivering such Notice and
  Questionnaire is named as a selling securityholder in the Shelf Registration
  Statement and the related Prospectus in such a manner as to permit such
  Holder to deliver such Prospectus to purchasers of the Transfer Restricted
  Securities in accordance with applicable law and, if the Company shall file a
  post-effective amendment to the Shelf Registration Statement and (if such
  Shelf Registration Statement is not an Automatic Shelf Registration
  Statement), use its reasonable best efforts to cause such post-effective
  amendment to be declared effective under the Securities Act as promptly as is
  practicable, but in any event by the date (the “Amendment Effectiveness Deadline Date”) that is forty-five
  (45) days after the date such post-effective amendment is required by this
  clause to be filed;

	
 

	
 

	
 

	
 

	
 

	
          (ii) provide
  such Holder copies of any documents filed pursuant to Section 2(f)(i); and

7

	
 

	
 

	
 

	
 

	
 

	
          (iii) notify
  such Holder as promptly as practicable after the effectiveness under the
  Securities Act of any post-effective amendment filed pursuant to Section
  2(f)(i);

provided that if
such Notice and Questionnaire is delivered during a Suspension Period, the
Company shall so inform the Holder delivering such Notice and Questionnaire and
shall take the actions set forth in clauses (i), (ii) and (iii) above upon
expiration of the Suspension Period in accordance with Section 4(b).
Notwithstanding anything contained herein to the contrary, (i) the Company
shall be under no obligation to name any Holder that is not a Notice Holder as
a selling securityholder in any Registration Statement or related Prospectus
and (ii) the Amendment Effectiveness Deadline shall be extended by up to twenty
(20) Business Days from the expiration of a Suspension Period (and the Company
shall incur no obligation to pay Additional Amounts during such extension) if
such Suspension Period shall be in effect on the Amendment Effectiveness
Deadline Date.

	
 

	
 

	
 

	
 

	
3. Additional Amounts.

	
 

	
 

	
 

	
 

	
          (a)
  If:

	
 

	
 

	
 

	
 

	
          (i)
  the Shelf Registration Statement is not filed with the Commission (and
  becomes automatically effective if the Company is then a WKSI) prior to or on
  the Shelf Filing Deadline;

	
 

	
 

	
 

	
 

	
 

	
          (ii)
  the Company is not a WKSI on the Shelf Filing Deadline, and the Shelf
  Registration Statement has not been declared effective by the Commission
  prior to or on the Effectiveness Target Date;

	
 

	
 

	
 

	
 

	
 

	
          (iii)
  except as provided in Section 4(b)(i) hereof, the Shelf Registration
  Statement becomes or is declared effective but, during the Effectiveness
  Period, shall thereafter cease to be effective or fail to be usable for its
  intended purpose without being succeeded within ten (10) Business Days by a
  post-effective amendment to the Shelf Registration Statement, a supplement to
  the Prospectus or a report filed with the Commission pursuant to Section
  13(a), 13(c), 14 or 15(d) of the Exchange Act that cures such failure and, in
  the case of a post-effective amendment, is itself immediately declared
  effective; or

	
 

	
 

	
 

	
 

	
 

	
          (iv)
  Suspension Periods exceed an aggregate of 45 (or 60 days, as applicable),
  within any 90-day period or an aggregate of 90 days in any 360-day period;

8

(each such
event referred to in foregoing clauses (i) through (iv), a “Registration
Default”), the Company hereby agrees to pay interest (“Additional
Amounts”) with respect to Debentures that are Transfer Restricted
Securities from and including the day following the Registration Default to but
excluding the earlier of (1) the day on which the Registration Default has been
cured and (2) the date the Shelf Registration Statement is no longer required
to be kept effective, accruing at a rate:

	
 

	
 

	
 

	
          (A)
  in respect of the Debentures that are Transfer Restricted Securities, to each
  Holder of such Debentures, (x) with respect to the first 90-day period during
  which a Registration Default shall have occurred and be continuing, equal to
  0.25% per annum of the aggregate principal amount of the Debentures, and (y)
  with respect to the period commencing on the 91st day following the day the
  Registration Default shall have occurred and be continuing, equal to 0.50%
  per annum of the aggregate principal amount of the Debentures; provided that in no event shall
  Additional Amounts accrue at a rate per year exceeding 0.50% of the aggregate
  principal amount of the Debentures; and

	
 

	
 

	
 

	
          (B)
  in respect of the Debentures that are Transfer Restricted Securities
  submitted for conversion into Common stock during the existence of a
  Registration Default with respect to the Common Stock, a Holder will not be
  entitled to receive any Additional Amounts with respect to such Common Stock
  but will receive from the Company on the settlement date with respect to such
  conversion, accrued and unpaid Additional Amounts to the Holders of such
  Debentures calculated in accordance with paragraph (A) above to the
  Conversion Date (as defined in the Indenture) relating to such settlement
  date.

	
 

	
 

	
 

	
          (b)
  A Holder of Common Stock, if any, issued upon conversion of the Debentures
  will not be entitled to any Additional Amounts if the Registration Default
  with respect to such Common Stock occurs after such Holder has converted the
  Debentures into Common Stock.

	
 

	
 

	
 

	
          (c)
  All accrued Additional Amounts, except for Additional Amounts paid under the
  circumstances set forth in paragraph (B) of Section 3(a) above, shall be paid
  in arrears to Record Holders by the Company on each Additional Amounts
  Payment Date. Upon the cure of all Registration Defaults relating to any
  particular Debenture, the accrual of Additional Amounts with respect to such
  Debenture will cease.

9

          All
obligations of the Company set forth in this Section 3 that are outstanding
with respect to any Debenture that is a Transfer Restricted Security at the
time such security ceases to be a Transfer Restricted Security shall survive
until such time as all such obligations with respect to such Debenture shall
have been satisfied in full. 

          The
Additional Amounts set forth above shall be the exclusive monetary remedy
available to the Holders of Debentures that are Transfer Restricted Securities
for each Registration Default.

          4.
Registration
Procedures. 

	
 

	
 

	
 

	
          (a)
  In connection with the Shelf Registration Statement, the Company shall comply
  with all the provisions of Section 4(b) hereof and shall use its reasonable
  best efforts to effect such registration to permit the sale of the Transfer
  Restricted Securities, and pursuant thereto, shall as expeditiously as
  possible prepare and file with the Commission a Shelf Registration Statement
  relating to the registration on any appropriate form under the Securities
  Act.

	
 

	
 

	
 

	
          (b)
  In connection with the Shelf Registration Statement and any Prospectus
  required by this Agreement to permit the sale or resale of Transfer
  Restricted Securities, the Company shall:

	
 

	
 

	
 

	
 

	
 

	
 

	
          (i)
  Subject to any notice by the Company in accordance with this Section 4(b) of
  the existence of any fact or event of the kind described in Section
  4(b)(iv)(D), use its reasonable best efforts to keep the Shelf Registration
  Statement continuously effective during the Effectiveness Period; upon the
  occurrence of any event that would cause the Shelf Registration Statement or
  the Prospectus contained therein (A) to contain a material misstatement or
  omission or (B) not to be effective and usable for resale of Transfer
  Restricted Securities during the Effectiveness Period, the Company shall file
  promptly an appropriate amendment to the Shelf Registration Statement, a
  supplement to the Prospectus or a report filed with the Commission pursuant
  to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act, in the case of
  clause (A), correcting any such misstatement or omission, and, in the case of
  either clause (A) or (B), if such amendment does not become automatically
  effective upon filing with the Commission, use its reasonable best efforts to
  cause such amendment to be declared effective and the Shelf Registration Statement
  and the related Prospectus to become usable for their intended purposes as
  soon as practicable thereafter. 

10

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
          (ii)
Notwithstanding Section 4(b)(i) hereof, the Company may suspend the
effectiveness of the Shelf Registration Statement (each such period, a “Suspension Period”): 

	
 

	
 

	
 

	
 

	
 

	
 

	
                    (x)
  if an event occurs and is continuing as a result of which the Shelf
  Registration Statement, the Prospectus, any amendment or supplement thereto,
  or any document incorporated by reference therein would, in the Company’s
  judgment, contain an untrue statement of a material fact or omit to state a
  material fact required to be stated therein or necessary to make the
  statements therein not misleading; and

	
 

	
 

	
 

	
 

	
 

	
 

	
                    (y)
  if the Company determines in good faith that the disclosure of a material
  event at such time would be seriously detrimental to the Company and its
  subsidiaries, taken as a whole.

	
 

	
 

	
 

	
 

	
 

	
The Suspension
Period shall not exceed 45 days in any 90-day period, provided
that, in the event the disclosure relates to a previously undisclosed proposed
or pending material business transaction, the disclosure of which the Company
determines in good faith would be reasonably likely to impede the Company’s
ability to consummate such transaction, the Company may extend a Suspension
Period from 45 days to 60 days; provided,
further, that Suspension Periods shall not exceed an aggregate of 90 days in
any 360-day period. The Company shall not be required to specify in the written
notice to the Holders the nature of the event giving rise to the Suspension
Period.

	
 

	
 

	
 

	
 

	
 

	
 

	
          (iii)
  Prepare and file with the Commission such amendments and post-effective
  amendments to the Shelf Registration Statement as may be necessary to keep
  the Shelf Registration Statement effective during the Effectiveness Period;
  cause the Prospectus to be supplemented by any required Prospectus
  supplement, and as so supplemented to be filed pursuant to Rule 424 under the
  Securities Act, and to comply fully with the applicable provisions of Rules
  424 under the Securities Act in a timely manner; and comply with the
  provisions of the Securities Act with respect to the disposition of all
  Transfer Restricted Securities covered by the Shelf Registration Statement
  during the applicable period in accordance with the intended method or
  methods of distribution by the sellers thereof set forth in the Shelf
  Registration Statement or supplement to the Prospectus.

	
 

	
 

	
 

	
 

	
 

	
          (iv)
  Advise the selling Holders and any Initial Purchaser that has provided in
  writing to the Company a telephone or facsimile number and address for
  notices, promptly and, if 

11

	
 

	
 

	
 

	
 

	
 

	
requested by
  such selling Holders or Initial Purchaser, to confirm such advice in writing
  (which notice pursuant to clauses (B) through (D) below shall be accompanied
  by an instruction to suspend the use of the Prospectus until the Company
  shall have remedied the basis for such suspension):

	
 

	
 

	
 

	
          (A)
  when the Prospectus or any Prospectus supplement or post-effective amendment
  has been filed, and, with respect to the Shelf Registration Statement or any
  post-effective amendment thereto when the same has become effective,

	
 

	
 

	
 

	
          (B)
  of any request by the Commission for amendments to the Shelf Registration
  Statement or amendments or supplements to the Prospectus or for additional
  information relating thereto,

	
 

	
 

	
 

	
          (C)
  of the issuance by the Commission of any stop order suspending the
  effectiveness of the Shelf Registration Statement under the Securities Act or
  of the suspension by any state securities commission of the qualification of
  the Transfer Restricted Securities for offering or sale in any jurisdiction,
  or the threatening or initiation of any proceeding for any of the preceding
  purposes, or

	
 

	
 

	
 

	
          (D)
  of the existence of any fact or the happening of any event, during the
  Effectiveness Period, that makes any statement of a material fact made in the
  Shelf Registration Statement, the Prospectus, any amendment or supplement
  thereto, or any document incorporated by reference therein, untrue, or that
  requires the making of any additions to or changes in the Shelf Registration
  Statement or the Prospectus in order to make the statements therein (in the
  case of the Prospectus, in the light of the circumstances under which they
  were made) not misleading.

	
 

	
 

	
 

	
 

	
 

	
          (v)
  If at any time the Commission shall issue any stop order suspending the
  effectiveness of the Shelf Registration Statement, or any state securities
  commission or other regulatory authority shall issue an order suspending the
  qualification or exemption from qualification of the Transfer Restricted
  Securities under state securities or Blue Sky laws, the Company shall use its
  reasonable best efforts to obtain the withdrawal or lifting of such order at
  the earliest possible time and will provide to each Holder 

12

	
 

	
 

	
 

	
 

	
 

	
who is named
  in the Shelf Registration Statement prompt notice of the withdrawal of any
  such order.

	
 

	
 

	
 

	
 

	
 

	
          (vi)
  Make available at reasonable times for inspection by one or more
  representatives of the selling Holders, designated in writing by a Majority
  of Holders whose Transfer Restricted Securities are included in the Shelf
  Registration Statement, and any attorney or accountant retained by such
  selling Holders, all financial and other records, pertinent corporate
  documents and properties of the Company as shall be reasonably necessary to
  enable them to conduct a reasonable investigation within the meaning of
  Section 11 of the Securities Act, and cause the Company’s officers,
  directors, managers and employees to supply all information reasonably
  requested by any such representative or representatives of the selling
  Holders, attorney or accountant in connection therewith; provided, however,
  that the Company shall have no obligation to deliver information to any
  selling Holder or representative pursuant to this Section 4(b)(vi) unless
  such selling Holder or representative shall have executed and delivered a
  confidentiality agreement in a form acceptable to the Company relating to
  such information.

	
 

	
 

	
 

	
 

	
 

	
          (vii)
  If requested by any selling Holders, promptly incorporate in the Shelf
  Registration Statement or Prospectus, pursuant to a supplement or
  post-effective amendment if necessary, such information as such selling
  Holders may reasonably request to have included therein, including, without
  limitation, information relating to the “Plan of Distribution” of the Transfer Restricted Securities.

	
 

	
 

	
 

	
 

	
 

	
          (viii)
  Deliver to each selling Holder, without charge, as many copies of the
  Prospectus (including each preliminary Prospectus) and any amendment or
  supplement thereto as such Persons reasonably may request; subject to any
  notice by the Company in accordance with this Section 4(b) of the existence
  of any fact or event of the kind described in Section 4(b)(iii)(D), the
  Company hereby consents to the use of the Prospectus and any amendment or
  supplement thereto by each of the selling Holders in connection with the
  offering and the sale of the Transfer Restricted Securities covered by the
  Prospectus or any amendment or supplement thereto.

	
 

	
 

	
 

	
 

	
 

	
          (ix)
  Before any public offering of Transfer Restricted Securities, cooperate with
  the selling Holders and their counsel in connection with the registration and
  qualification of the Transfer

13

	
 

	
 

	
 

	
 

	
 

	
Restricted
  Securities under the securities or Blue Sky laws of such jurisdictions in the
  United States as the selling Holders may reasonably request and do any and
  all other acts or things necessary or advisable to enable the disposition in
  such jurisdictions of the Transfer Restricted Securities covered by the Shelf
  Registration Statement; provided, however,
  that the Company shall not be required (A) to register or qualify as a
  foreign corporation or a dealer of securities where it is not now so
  qualified or to take any action that would subject it to the service of
  process in any jurisdiction where it is not now so subject, other than
  service of process for suits arising out of the Initial Placement or any
  offering pursuant to the Shelf Registration Statement or (B) to subject
  itself to general or unlimited service of process or to taxation in any such
  jurisdiction if they are not now so subject.

	
 

	
 

	
 

	
 

	
 

	
          (x)
  Unless any Transfer Restricted Securities shall be in book-entry form only,
  (A) cooperate with the selling Holders to facilitate the timely preparation
  and delivery of certificates representing Transfer Restricted Securities to
  be sold and not bearing any restrictive legends (unless required by
  applicable securities laws) and (B) enable such Transfer Restricted
  Securities to be in such denominations and registered in such names as the
  Holders may request at least two Business Days before any sale of Transfer
  Restricted Securities.

	
 

	
 

	
 

	
 

	
 

	
          (xi)
  Use its reasonable best efforts to cause the Transfer Restricted Securities
  covered by the Shelf Registration Statement to be registered with or approved
  by such other U.S. governmental agencies or authorities as may be necessary
  to enable the seller or sellers thereof to consummate the disposition of such
  Transfer Restricted Securities.

	
 

	
 

	
 

	
 

	
 

	
          (xii)
  Subject to Section 4(b)(ii) hereof, if any fact or event contemplated by
  Section 4(b)(iv)(B) through (D) hereof shall exist or have occurred, use its
  reasonable best efforts to prepare a supplement or post-effective amendment
  to the Shelf Registration Statement or related Prospectus or any document
  incorporated therein by reference or file any other required document so
  that, as thereafter delivered to the purchasers of Transfer Restricted
  Securities, the Prospectus will not contain an untrue statement of a material
  fact or omit to state any material fact required to be stated therein or
  necessary to make the statements therein, in light of the circumstances in
  which they are made, not misleading.

14

	
 

	
 

	
 

	
 

	
 

	
          (xiii)
  Provide CUSIP numbers for all Transfer Restricted Securities not later than
  the effective date of the Shelf Registration Statement and provide the
  Trustee with certificates for the Debentures that are in a form eligible for
  deposit with The Depository Trust Company.

	
 

	
 

	
 

	
 

	
 

	
          (xiv)
  Cooperate and assist in any filings required to be made with the NASD and in
  the performance of any due diligence investigation by any underwriter that is
  required to be undertaken in accordance with the rules and regulations of the
  NASD.

	
 

	
 

	
 

	
 

	
 

	
          (xv)
  Otherwise use its best efforts to comply with all applicable rules and
  regulations of the Commission and all reporting requirements under the rules
  and regulations of the Exchange Act.

	
 

	
 

	
 

	
 

	
 

	
          (xvi)
  Make generally available to its security holders an earnings statement (which
  need not be audited) satisfying the provisions of Section 11(a) of the
  Securities Act and Rule 158 of the Securities Act as soon as practicable
  after the effective date of the Shelf Registration Statement and in any event
  no later than 45
  days after the end of a 12-month period (or 90 days, if such period is
  a fiscal year) beginning with the first month of the Company’s first fiscal
  quarter commencing after the effective date of the Shelf Registration
  Statement.

	
 

	
 

	
 

	
 

	
 

	
          (xvii)
  Cause the Indenture to be qualified under the TIA not later than the
  effective date of the Shelf Registration Statement required by this Agreement,
  and, in connection therewith, cooperate with the Trustee and the Holders of
  Debentures to effect such changes to the Indenture as may be required for
  such Indenture to be so qualified in accordance with the terms of the TIA;
  and execute and use its reasonable best efforts to cause the Trustee to
  execute all documents that may be required to effect such changes and all
  other forms and documents required to be filed with the Commission to enable
  such Indenture to be so qualified in a timely manner. In the event that any
  such amendment or modification referred to in this Section 4(b)(xvii)
  involves the appointment of a new trustee under the Indenture, the Company
  shall appoint a new trustee thereunder pursuant to the applicable provisions
  of the Indenture.

	
 

	
 

	
 

	
 

	
 

	
          (xviii)
  Cause all Common Stock covered by the Shelf Registration Statement to be
  listed or quoted, as the case may be, on each securities exchange or
  automated quotation system on 

15

	
 

	
 

	
 

	
 

	
 

	
which Common
  Stock is then listed or quoted prior to issuance under the terms of the
  Debentures.

	
 

	
 

	
 

	
 

	
 

	
          (xix)
  Provide to each Holder upon written request each document filed by the
  Company with the Commission pursuant to the requirements of Section 13 and
  Section 15 of the Exchange Act after the effective date of the Shelf
  Registration Statement, unless such document is available through the
  Commission’s EDGAR system.

	
 

	
 

	
 

	
 

	
 

	
          (xx)
  Use its reasonable best efforts to take all other steps necessary to effect
  the registration of the Debentures covered by the Shelf Registration
  Statement.

	
 

	
 

	
 

	
 

	
          (c)
Each Holder agrees by acquisition of Transfer Restricted Securities that,
upon receipt of any notice (a “Suspension
Notice”) from the Company under Section 4(b)(ii) or the existence of
any fact of the kind described in Section 4(b)(iv)(D) hereof, such Holder
will forthwith discontinue disposition of Transfer Restricted Securities
pursuant to the Shelf Registration Statement until: 

	
 

	
 

	
 

	
 

	
          (i)
  such Holder has received copies of the supplemented or amended Prospectus
  contemplated by Section 4(b)(xii) hereof; or

	
 

	
 

	
 

	
 

	
 

	
          (ii)
  such Holder is advised in writing by the Company that the use of the
  Prospectus may be resumed, and has received copies of any additional or
  supplemental filings that are incorporated by reference in the Prospectus.

If so directed
by the Company, each Holder will deliver to the Company (at the Company’s
expense) all copies, other than permanent file copies then in such Holder’s
possession, of the Prospectus covering such Transfer Restricted Securities that
was current at the time of receipt of such notice of suspension.

	
 

	
 

	
 

	
          (d)
  Each Holder agrees by acquisition of a Transfer Restricted Security, that no
  Holder shall be entitled to sell any of such Transfer Restricted Securities
  pursuant to a Shelf Registration Statement; or to receive a Prospectus
  relating thereto, unless such Holder has furnished the Company with a Notice
  and Questionnaire as required pursuant to Section 2(e) hereof (including the
  information required to be included in such Notice and Questionnaire) and the
  information set forth in the following two sentences. The Company may require
  each Notice Holder of Debentures to be sold pursuant to the Shelf
  Registration Statement to furnish to the Company such information regarding
  the Holder and the distribution of such Debentures as the Company may from
  time to time

16

	
 

	
 

	
 

	

reasonably require for inclusion in such Registration Statement.
  Each Notice Holder agrees promptly to furnish to the Company all information
  required to be disclosed in order to make the information previously
  furnished to the Company by such Notice Holder not misleading and any other
  information regarding such Notice Holder and the distribution of such
  Transfer Restricted Securities as the Company may from time to time
  reasonably request in writing. Any sale of any Transfer Restricted Securities
  by any Holder shall constitute a representation and warranty by such Holder
  that the information relating to such Holder and its plan of distribution is
  as set forth in the Prospectus delivered by such Holder in connection with
  such disposition, that such Prospectus does not as of the time of such sale
  contain any untrue statement of a material fact relating to or provided by such
  Holder or its plan of distribution and that such Prospectus does not as of
  the time of such sale omit to state any material fact relating to or provided
  by such Holder or its plan of distribution necessary to make the statements
  in such Prospectus, in the light of the circumstances under which they were
  made not misleading. The Company may exclude from such Shelf Registration
  Statement the Debentures of any Holder that unreasonably fails to furnish
  such information within a reasonable time after receiving such request.

          5.
Registration
Expenses. 

	
 

	
 

	
 

	
          All expenses
incident to the Company’s performance of or compliance with this Agreement
shall be borne by the Company regardless of whether a Shelf Registration
Statement becomes effective, including, without limitation:

	
 

	
 

	
 

	
          (a)
  all registration and filing fees and expenses (including filings made with
  the NASD);

	
 

	
 

	
 

	
          (b)
  all fees and expenses of compliance with federal securities and state Blue
  Sky or securities laws; 

	
 

	
 

	
 

	
          (c)
  all expenses of printing (including printing of Prospectuses and certificates
  for any Common Stock to be issued upon conversion of the Debentures) and the
  Company’s expenses for messenger and delivery services and telephone; 

	
 

	
 

	
 

	
          (d)
  all fees and disbursements of counsel to the Company;

	
 

	
 

	
 

	
          (e)
  all application and filing fees, if any, in connection with listing (or
  authorizing for quotation) the Common Stock on a national securities exchange
  or automated quotation system pursuant to the requirements hereof; and 

17

	
 

	
 

	
 

	
          (f)
  all fees and disbursements of independent certified public accountants of the
  Company.

          The
Company shall bear its internal expenses (including, without limitation, all
salaries and expenses of their officers and employees performing legal,
accounting or other duties), the expenses of any annual audit and the fees and
expenses of any Person, including special experts, retained by the Company. 

          6.
Indemnification And Contribution.

	
 

	
 

	
 

	
 

	
          (a)
The Company agrees to indemnify and hold harmless each Holder of Transfer
Restricted Securities (including each Initial Purchaser), its directors,
officers, employees and agents and each person, if any, who controls any such
Holder within the meaning of the Securities Act or the Exchange Act (each, an
“Indemnified Holder”), against
any loss, claim, damage, liability or expense, joint or several, or any
action in respect thereof (including, but not limited to, any loss, claim,
damage, liability or action relating to resales of the Transfer Restricted
Securities), to which such Indemnified Holder may become subject, insofar as
any such loss, claim, damage, liability or action arises out of, or is based
upon: 

	
 

	
 

	
 

	
 

	
          (i)
  any untrue statement or alleged untrue statement of a material fact contained
  in (A) the Shelf Registration Statement as originally filed or in any
  amendment thereof, in any Prospectus, or in any amendment or supplement
  thereto or any issuer free writing prospectus in respect thereof, or (B) any
  Blue Sky application or other document or any amendment or supplement thereto
  prepared or executed by the Company (or based upon written information
  furnished by or on behalf of the Company expressly for use in such Blue Sky
  application or other document or amendment or supplement) filed in any
  jurisdiction specifically for the purpose of qualifying any or all of the
  Transfer Restricted Securities under the securities law of any state or other
  jurisdiction (such application or document being hereinafter called a “Blue Sky
  Application”); or

	
 

	
 

	
 

	
 

	
 

	
          (ii)
  the omission or alleged omission to state therein any material fact required
  to be stated therein or necessary to make the statements therein, in the
  light of the circumstances under which they were made, not misleading,

	
 

	
 

	
 

	
 

	
and agrees
  to reimburse each Indemnified Holder promptly upon demand for any legal or
  other expenses reasonably incurred by such Indemnified Holder in connection
  with investigating, defending, settling, compromising or paying any such
  loss, claim, damage, liability, expense or action; provided, however, that the Company shall not be liable in
  any 

18

	
 

	
 

	
 

	
 

	
such case to
  the extent that any such loss, claim, damage, liability or expense arises out
  of, or is based upon, any untrue statement or alleged untrue statement or
  omission or alleged omission made in reliance upon and in conformity with
  written information furnished to the Company by or on behalf of such Holder
  (or its related Indemnified Holder) specifically for use therein. The
  foregoing indemnity agreement is in addition to any liability which the
  Company may otherwise have.

	
 

	
 

	
 

	
 

	
          (b)
  Each Holder, severally and not jointly, agrees to indemnify and hold harmless
  the Company, its directors, officers, employees and agents and each person,
  if any, who controls the Company within the meaning of the Securities Act or
  the Exchange Act to the same extent as the foregoing indemnity from the
  Company to each such Holder, but only with reference to written information
  relating to such Holder furnished to the Company by or on behalf of such
  Holder specifically for inclusion in the documents referred to in the
  foregoing indemnity. This indemnity agreement set forth in this Section shall
  be in addition to any liabilities which any such Holder may otherwise have.
  In no event shall any Holder, its directors, officers or any person who
  controls such Holder be liable or responsible for any amount in excess of the
  amount by which the total amount received by such Holder with respect to its
  sale of Transfer Restricted Securities pursuant to a Shelf Registration
  Statement exceeds the amount of any damages that such Holder, its directors,
  officers or any person who controls such Holder has otherwise been required
  to pay by reason of such untrue or alleged untrue statement or omission or
  alleged omission.

	
 

	
 

	
 

	
          (c)
  Promptly after receipt by an indemnified party under this Section 6 of notice
  of any claim or the commencement of any action, the indemnified party shall,
  if a claim in respect thereof is to be made against the indemnifying party
  under this Section 6, notify the indemnifying party in writing of the claim
  or the commencement of that action; provided,
  however, that the failure to notify the indemnifying party (i)
  shall not relieve it from any liability which it may have under paragraphs
  (a) or (b) of this Section 6 unless and to the extent it did not otherwise
  learn of such action and such failure results in the forfeiture by the
  indemnifying party of substantial rights and defenses, and (ii) shall not, in
  any event, relieve it from any liability which it may have to an indemnified
  party otherwise than under paragraphs (a) or (b) of this Section 6. If any
  such claim or action shall be brought against an indemnified party, and it
  shall notify the indemnifying party thereof, the indemnifying party shall be
  entitled to participate therein and, to the extent that it wishes, jointly
  with any other similarly notified indemnifying party, to assume the defense thereof
  with counsel satisfactory to the indemnified party. After notice from the
  indemnifying party to the indemnified party of its election to assume the 

19

	
 

	
 

	
 

	
 

	
defense of
  such claim or action, the indemnifying party shall not be liable to the
  indemnified party under this Section 6 for any legal or other expenses
  subsequently incurred by the indemnified party in connection with the defense
  thereof other than reasonable costs of investigation; provided, however, that the Holders
  shall have the right to employ a single counsel reasonably approved by the
  Company to represent jointly the Holders and their officers, employees and
  controlling persons who may be subject to liability arising out of any claim
  in respect of which indemnity may be sought by the Holders against the
  Company under this Section 6 if the Holders seeking indemnification shall
  have been advised by legal counsel that there may be one or more legal
  defenses available to such Holders and their respective officers, employees
  and controlling persons that are different from or additional to those
  available to the Company, and in that event, the fees and expenses of such
  separate counsel shall be paid by the Company.

	
 

	
 

	
 

	
 

	
          (d)
  The indemnifying party under this Section shall not be liable for any
  settlement of any proceeding effected without its written consent, which
  shall not be withheld unreasonably, but if settled with such consent or if
  there is a final judgment for the plaintiff, the indemnifying party agrees to
  indemnify the indemnified party against any loss, claim, damage, liability or
  expense by reason of such settlement or judgment. Notwithstanding the
  foregoing sentence, if at any time an indemnified party shall have requested
  an indemnifying party to reimburse the indemnified party for fees and
  expenses of counsel as contemplated by Section 6(c) hereof, the indemnifying
  party agrees that it shall be liable for any settlement of any proceeding
  effected without its written consent if (i) such settlement is entered into
  more than 45 days after receipt by such indemnifying party of the aforesaid
  request, (ii) such indemnifying party shall have received notice of the terms
  of such settlement at least 30 days prior to such settlement being entered
  into, and (iii) such indemnifying party shall not have reimbursed the
  indemnified party in accordance with such request prior to the date of such
  settlement. Notwithstanding the immediately preceding sentence, if at any
  time an indemnified party shall have requested an indemnifying party to reimburse
  the indemnified party for fees and expenses of counsel, an indemnifying party
  shall not be liable for any settlement effected without its consent if such
  indemnifying party (i) reimburses such indemnified party in accordance with
  such request to the extent it considers such request to be reasonable and
  (ii) provides written notice to the indemnified party substantiating the
  unpaid balance as unreasonable, in each case prior to the date of such
  settlement. No indemnifying party shall, without the prior written consent of
  the indemnified party, effect any settlement, compromise or consent to the
  entry of judgment in any pending or threatened action, suit or proceeding in
  respect of which any indemnified party is or could have been a party 

20

	
 

	
 

	
 

	
 

	
and
  indemnity was or could have been sought hereunder by such indemnified party,
  unless such settlement, compromise or consent (x) includes an unconditional
  release of such indemnified party from all liability on claims that are the
  subject matter of such action, suit or proceeding and (y) does not include a
  statement as to or an admission of fault, culpability or a failure to act by
  or on behalf of any indemnified party.

	
 

	
 

	
 

	
 

	
          (e)
  If the indemnification provided for in this Section 6 shall for any reason be
  unavailable or insufficient to hold harmless an indemnified party under
  Section 6(a) or 6(b) in respect of any loss, claim, damage or liability (or
  action in respect thereof) referred to therein, each indemnifying party
  shall, in lieu of indemnifying such indemnified party, contribute to the
  aggregate amount paid or payable by such indemnified party as a result of
  such loss, claim, damage or liability (or action in respect thereof):

	
 

	
 

	
 

	
 

	
          (i) in such
  proportion as is appropriate to reflect the relative benefits received by the
  Company from the offering and sale of the Transfer Restricted Securities on
  the one hand and a Holder with respect to the sale by such Holder of the
  Transfer Restricted Securities on the other, or

	
 

	
 

	
 

	
 

	
 

	
          (ii) if the
  allocation provided by Section (6)(e)(i) is not permitted by applicable law,
  in such proportion as is appropriate to reflect not only the relative
  benefits referred to in Section 6(e)(i) but also the relative fault of the
  Company on the one hand and the Holders on the other in connection with the
  statements or omissions or alleged statements or alleged omissions that
  resulted in such loss, claim, damage or liability (or action in respect
  thereof), as well as any other relevant equitable considerations.

The relative
benefits received by the Company on the one hand and a Holder on the other with
respect to such offering and such sale shall be deemed to be in the same
proportion as the total net proceeds from the offering of the Debentures
purchased under the Purchase Agreement (before deducting expenses) received by
the Company, on the one hand, bear to the total proceeds received by such
Holder with respect to its sale of Transfer Restricted Securities on the other.
The relative fault of the parties shall be determined by reference to whether
the untrue or alleged untrue statement of a material fact or the omission or
alleged omission to state a material fact relates to information supplied by
the Company on the one hand or the Holders on the other, the intent of the parties
and their relative knowledge, access to information and opportunity to correct
or prevent such statement or omission. The Company and each Holder agree that
it would not be just and equitable if the amount of contribution pursuant to
this Section 6(e) were 

21

 determined by pro
rata allocation or by any other method of allocation that does not
take into account the equitable considerations referred to in the first
sentence of this Section 6(e). 

           The amount
paid or payable by an indemnified party as a result of the loss, claim, damage
or liability, or action in respect thereof, referred to above in this Section 6
shall be deemed to include, for purposes of this Section 6, any legal or other
expenses reasonably incurred by such indemnified party in connection with
investigating or defending or preparing to defend any such action or claim.

          No
Person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any Person
who was not guilty of such fraudulent misrepresentation. The Holders’
obligations to contribute as provided in this Section 6(e) are several and not
joint.

	
 

	
 

	
 

	
          (f)
  The provisions of this Section 6 shall remain in full force and effect,
  regardless of any investigation made by or on behalf of any Holder or the
  Company or any of the officers, directors or controlling persons referred to
  in Section 6 hereof, and will survive the sale by a Holder of Transfer
  Restricted Securities.

          7.
Rule 144A.
The Company agrees with each Holder, for so long as any Transfer
Restricted Securities remain outstanding and during any period in which the
Company (i) is not subject to Section 13 or 15(d) of the Exchange Act, to
make available, upon request of any Holder, to such Holder or beneficial owner
of Transfer Restricted Securities in connection with any sale thereof and any
prospective purchaser of such Transfer Restricted Securities designated by such
Holder or beneficial owner, the information required by Rule 144A(d)(4) under
the Securities Act in order to permit resales of such Transfer Restricted
Securities pursuant to Rule 144A, and (ii) is subject to Section 13 or 15(d) of
the Exchange Act, to make all filings required thereby.

          8.
Miscellaneous.

	
 

	
 

	
 

	
 

	
          (a)
  Remedies. The Company
  acknowledges and agrees that any failure by the Company to comply with its
  obligations under Section 2 hereof may result in material irreparable injury
  to the Initial Purchaser or the Holders for which there is no adequate remedy
  at law, that it will not be possible to measure damages for such injuries
  precisely, and that, in the event of any such failure, in addition to being
  entitled to exercise all rights provided to it herein, in the Indenture or in
  the Purchase Agreement or granted by law, including recovery of liquidated or
  other damages, the Initial Purchaser or any Holder may obtain such relief as
  may be required to specifically enforce the Company’s obligations under
  Section 2 hereof. 

22

	
 

	
 

	
 

	
 

	
The Company
  further agrees to waive the defense in any action for specific performance
  that a remedy at law would be adequate.

	
 

	
 

	
 

	
 

	
          (b)
  Actions Affecting Transfer Restricted
  Securities. The Company shall not, directly or indirectly, take
  any action with respect to the Transfer Restricted Securities as a class that
  would adversely affect the ability of the Holders of Transfer Restricted
  Securities to include such Transfer Restricted Securities in a registration
  undertaken pursuant to this Agreement.

	
 

	
 

	
 

	
          (c)
  No Inconsistent Agreements. The
  Company has not, as of the date hereof, entered into, nor shall it, on or
  after the date hereof, enter into, any agreement with respect to its
  securities that is inconsistent with the rights granted to the Holders in
  this Agreement or otherwise conflicts with the provisions hereof. In
  addition, the Company shall not grant to any of its securityholders (other
  than the Holders of Transfer Restricted Securities in such capacity) the
  right to include any of its securities in the Shelf Registration Statement
  provided for in this Agreement other than the Transfer Restricted Securities.

	
 

	
 

	
 

	
          (d)
  Amendments and Waivers. This
  Agreement may not be amended, modified or supplemented, and waivers or
  consents to or departures from the provisions hereof may not be given, unless
  the Company has obtained the written consent of a Majority of Holders; provided, however, that with respect to any matter that directly or
  indirectly adversely affects the rights of any Initial Purchaser hereunder,
  the Company shall obtain the written consent of each such Initial Purchaser
  against which such amendment, qualification, supplement, waiver or consent is
  to be effective. Notwithstanding the foregoing (except the foregoing proviso),
  a waiver or consent to depart from the provisions hereof with respect to a
  matter that relates exclusively to the rights of Holders whose securities are
  being sold pursuant to a Shelf Registration Statement and does not directly
  or indirectly adversely affect the rights of other Holders, may be given by
  the Majority of Holders, determined on the basis of Debentures being sold
  rather than registered under such Shelf Registration Statement.

	
 

	
 

	
 

	
          (e)
  Notices. All notices and other
  communications provided for or permitted hereunder shall be made in writing
  by hand delivery, first class mail (registered or certified, return receipt
  requested), facsimile transmission, or air courier guaranteeing overnight
  delivery:

	
 

	
 

	
 

	
 

	
          (i)
  if to a Holder, at the address set forth on the records of the Registrar (as
  defined in the Indenture) or the transfer agent of the Common Stock, as the
  case may be; and

23

	
 

	
 

	
 

	
 

	
 

	
 

	
          (ii)
  if to the Company, initially at its address set forth in the Purchase Agreement,
  with a copy to:

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Dorsey &
  Whitney LLP

  50 South Sixth Street

  Minneapolis, MN 55402

  Facsimile: (612) 340-8738

  Attention: Gary L. Tygesson

	
 

	
 

	
 

	
 

	
 

	
 

	
          (iii)
  If to the Initial Purchaser, at its address set forth in the Purchase
  Agreement, with a copy to:

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Davis Polk
  & Wardwell
 450 Lexington Avenue
 New York, NY 10017
 Facsimile: (212) 450-3111
 Attention: Michael Kaplan

          All
such notices and communications shall be deemed to have been duly given: at the
time delivered by hand, if personally delivered; five Business Days after being
deposited in the mail, postage prepaid, if mailed; when receipt acknowledged,
if transmitted by facsimile; and on the next Business Day, if timely delivered
to an air courier guaranteeing overnight delivery.

          Any
party hereto may change the address for receipt of communications by giving
written notice to the others.

	
 

	
 

	
 

	
          (f)
  Successors and Assigns. This
  Agreement shall inure to the benefit of and be binding upon the successors and
  assigns of each of the parties, including without limitation and without the
  need for an express assignment, subsequent Holders of Transfer Restricted
  Securities. The Company hereby agrees to extend the benefit of this Agreement
  to any Holder and any such Holder may specifically enforce the provisions of
  this Agreement as if an original party hereto.

	
 

	
 

	
 

	
          (g)
  Counterparts. This Agreement
  may be executed in any number of counterparts and by the parties hereto in
  separate counterparts, each of which when so executed shall be deemed to be
  an original and all of which taken together shall constitute one and the same
  agreement.

	
 

	
 

	
 

	
          (h)
  Debentures Held by the Company or Their
  Affiliates. Whenever the consent or approval of Holders of a specified
  percentage of Transfer Restricted Securities is required hereunder, Transfer
  Restricted Securities held by the Company or its Affiliates (other than
  subsequent Holders if such subsequent Holders are deemed to be Affiliates
  solely by 

24

	
 

	
 

	
 

	
reason of
  their holding of such Transfer Restricted Securities) shall not be counted in
  determining whether such consent or approval was given by the Holders of such
  required percentage.

	
 

	
 

	
 

	
          (i)
  Headings. The headings in this
  Agreement are for convenience of reference only and shall not limit or
  otherwise affect the meaning hereof.

	
 

	
 

	
 

	
          (j)
  Governing Law. This Agreement
  shall be governed by and construed in accordance with the law of the State of
  New York.

	
 

	
 

	
 

	
          (k)
  Severability. If any one or
  more of the provisions contained herein, or the application thereof in any
  circumstance, is held invalid, illegal or unenforceable, the validity,
  legality and enforceability of any such provision in every other respect and
  of the remaining provisions contained herein shall not be affected or
  impaired thereby, it being intended that all of the rights and privileges of
  the parties shall be enforceable to the fullest extent permitted by law.

	
 

	
 

	
 

	
          (l)
  Entire Agreement. This
  Agreement is intended by the parties as a final expression of their agreement
  and intended to be a complete and exclusive statement of the agreement and
  understanding of the parties hereto in respect of the subject matter
  contained herein. There are no restrictions, promises, warranties or
  undertakings, other than those set forth or referred to herein with respect
  to the registration rights granted by the Company with respect to the
  Transfer Restricted Securities. This Agreement supersedes all prior
  agreements and understandings between the parties with respect to such
  subject matter.

25

          IN
WITNESS WHEREOF, the parties have executed this Agreement as of the date first
written above.

	
 

	
 

	
 

	
 

	
ST. JUDE
  MEDICAL, INC.

	
 

	
 

	
 

	
By:

	
/s/   John C. Heinmiller

	
 

	
 

	

	
 

	
 

	
Name:   John C. Heinmiller

	
 

	
 

	
Title:     Executive Vice President and Chief Financial Officer

	
 

	
 

	
 

	
 

	
BANC OF AMERICA SECURITIES LLC

	
 

	
 

	
 

	
By:

	
/s/   Craig McCracken

	
 

	
 

	

	
 

	
 

	
Name:   Craig McCracken

	
 

	
 

	
Title:     Managing Director

26

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