Document:

Exhibit 4.3

 

 

NATIONAL SEMICONDUCTOR
CORPORATION

 

$375,000,000

6.150% SENIOR NOTES DUE 2012

 

SUPPLEMENTAL INDENTURE

Dated as of June 18, 2007

To

INDENTURE

Dated as of June 18, 2007

 

THE BANK OF NEW YORK TRUST
COMPANY, N.A.

Trustee

 

 

TABLE OF CONTENTS

	
  

  	
  Page

  
	
   

  	
   

  
	
  Article
  1.

  	
   

  
	
  DEFINITIONS AND
  INCORPORATION

  	
   

  
	
  BY REFERENCE

  	
   

  
	
   

  	
   

  
	
  Section 1.01

  	
   

  	
  Relationship with Base Indenture.

  	
  1

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 1.02

  	
   

  	
  Definitions.

  	
  2

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 1.03

  	
   

  	
  Other Definitions.

  	
  5

  
	
   

  	
   

  	
   

  	
   

  
	
  Article
  2.

  	
   

  
	
  THE NOTES

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 2.01

  	
   

  	
  Form and Dating.

  	
  5

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 2.02

  	
   

  	
  Transfer and Exchange.

  	
  6

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 2.03

  	
   

  	
  Issuance of Additional Notes.

  	
  10

  
	
   

  	
   

  	
   

  	
   

  
	
  Article
  3.

  	
   

  
	
  REDEMPTION AND
  PREPAYMENT

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 3.01

  	
   

  	
  Notice of Redemption.

  	
  10

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 3.02

  	
   

  	
  Notes Redeemed in Part.

  	
  10

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 3.03

  	
   

  	
  Optional Redemption.

  	
  11

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 3.04

  	
   

  	
  Mandatory Redemption.

  	
  11

  
	
   

  	
   

  	
   

  	
   

  
	
  Article
  4.

  	
   

  
	
  PARTICULAR
  COVENANTS

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 4.01

  	
   

  	
  Liens.

  	
  11

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 4.02

  	
   

  	
  Offer to Purchase Upon Change of Control Triggering
  Event.

  	
  12

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 4.03

  	
   

  	
  Sale and Lease-Back Transactions.

  	
  14

  
	
   

  	
   

  	
   

  	
   

  
	
  Article
  5.

  	
   

  
	
  SUCCESSORS

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 5.01

  	
   

  	
  Merger, Consolidation or Sale of Assets.

  	
  14

  

 

 i
 

 

	
  Article 6.

  	
   

  
	
  DEFAULTS AND
  REMEDIES

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 6.01

  	
   

  	
  Events of Default.

  	
  15

  
	
   

  	
   

  	
   

  	
   

  
	
  Article
  7.

  	
   

  
	
  MISCELLANEOUS

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 7.01

  	
   

  	
  Trust Indenture Act Controls.

  	
  16

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 7.02

  	
   

  	
  Governing Law.

  	
  16

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 7.03

  	
   

  	
  Successors.

  	
  16

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 7.04

  	
   

  	
  Severability.

  	
  16

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 7.05

  	
   

  	
  Counterpart Originals.

  	
  16

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 7.06

  	
   

  	
  Table of Contents, Headings, Etc.

  	
  16

  

 

 

	
  EXHIBITS

  	
   

  	
   

  	
   

  
	
  Exhibit A

  	
   

  	
  FORM OF NOTE

  	
   

  

 

 ii

SUPPLEMENTAL INDENTURE dated as of June 18, 2007 by
and among National Semiconductor Corporation, a Delaware corporation (the “Company”), and The Bank of New York
Trust Company, N.A., a national banking association, as trustee (the “Trustee”).

The Company has heretofore executed and delivered to
the Trustee an indenture, dated as of June 18, 2007 (the “Base Indenture”, and together with
this Supplemental Indenture, the “Indenture”),
providing for the issuance from time to time of one or more series of the Company’s
securities.

The Company desires and has requested the Trustee
pursuant to Section 9.01 of the Base Indenture to join with it in the execution
and delivery of this Supplemental Indenture in order to supplement the Base
Indenture as, and to the extent set forth herein to provide for the issuance
and the terms of the Notes (as defined below).

Section 9.01 of the Base Indenture provides that the
Company and the Trustee, without the consent of any holders of the Company’s
Securities, may amend or waive certain terms and conditions in the Base
Indenture as permitted by Sections 2.01 and 2.02 thereof.

The execution and delivery of this Supplemental
Indenture has been duly authorized by a resolution of the Board of Directors of
the Company or a duly authorized committee thereof.

All conditions and requirements necessary to make this
Supplemental Indenture a valid, binding and legal instrument in accordance with
its terms have been performed and fulfilled by the parties hereto and the
execution and delivery thereof have been in all respects duly authorized by the
parties hereto.

The Company and the Trustee agree as follows for the
benefit of each other and for the equal and ratable benefit of the Holders (as
defined herein) of the 6.150% Senior Notes due 2012 (the “Notes”):

ARTICLE
1.

DEFINITIONS AND INCORPORATION

BY REFERENCE

Section 1.01                           Relationship
with Base Indenture.

The terms and provisions contained in the Base
Indenture will constitute, and are hereby expressly made, a part of this
Supplemental Indenture and the Company and the Trustee, by their execution and
delivery of this Supplemental Indenture, expressly agree to such terms and
provisions and to be bound thereby. 
However, to the extent any provision of the Base Indenture conflicts
with the express provisions of this Supplemental Indenture, the provisions of
this Supplemental Indenture will govern and be controlling.

The Trustee accepts the amendment of the Base
Indenture effected by this Supplemental Indenture and agrees to execute the
trust created by the Base Indenture as hereby amended, but only upon the terms
and conditions set forth in this Supplemental Indenture, including the terms
and provisions defining and limiting the liabilities and responsibilities of
the Trustee in the performance of the trust created by the Base Indenture, and
without limiting the generality of the foregoing, the Trustee will not be
responsible in any manner whatsoever for or with respect to any of the recitals
or statements contained herein, all of which recitals or statements are made
solely by the Company, or for or with respect to (1) the validity or
sufficiency of this Supplemental Indenture or any of the terms or provisions
hereof, (2) the proper authorization hereof by the Company, (3) the due
execution hereof by the Company or (4) the consequences (direct or indirect and
whether deliberate or inadvertent) of any amendment herein provided for, and
the Trustee makes no representation with respect to any such matters.

 1
 

Section 1.02                           Definitions.  Capitalized terms used herein without
definition shall have the respective meanings set forth in the Base
Indenture.  The following terms have the
meanings given to them in this Section 1.02:

“Additional Notes”
means any Notes (other than the Initial Notes) issued under this Supplemental
Indenture in accordance with Sections 2.03 hereof, as part of the same series
as the Initial Notes.

“Attributable Debt”
with regard to a Sale and Lease-Back Transaction with respect to any Principal
Property means, at the time of determination, the present value of the total
net amount of rent required to be paid under such lease during the remaining
term thereof (including any period for which such lease has been extended),
discounted at the rate of interest set forth or implicit in the terms of such
lease (or, if not practicable to determine such rate, the weighted average
interest rate per annum borne by the securities then outstanding under the Base
Indenture) compounded semi-annually.  In
the case of any lease which is terminable by the lessee upon the payment of a
penalty, such net amount shall be the lesser of (i) the net amount determined
assuming termination upon the first date such lease may be terminated (in which
case the net amount shall also include the amount of the penalty, but shall not
include any rent that would be required to be paid under such lease subsequent
to the first date upon which it may be so terminated) or (ii) the net amount
determined assuming no such termination.

“Base Indenture”
means has the meaning set forth in the preamble to this Supplemental Indenture,
as amended, supplemented or otherwise modified from time to time in accordance
with the terms thereof.

“Below Investment Grade
Rating Event” means the Notes are rated below an Investment Grade
Rating by each of the Rating Agencies on any date from the date of the public
notice of an arrangement that could result in a Change of Control until the end
of the 60-day period following public notice of the occurrence of the Change of
Control (which 60-day period shall be extended so long as the rating of the
Notes is under publicly announced consideration for possible downgrade by any
of the Rating Agencies).

“Capital Stock”
means:

(1)           with respect to any Person that is a
corporation, any and all shares, interests, participations or other equivalents
(however designated and whether voting or not voting) of corporate stock,
including each class of Common Stock and Preferred Stock of such Person; and

(2)           with respect to any Person that is not a
corporation, any and all partnership, membership or other equity interests of
such Person.

“Change of Control”
means the occurrence of one or more of the following events:

(1)           any sale, lease, exchange or other
transfer (in one transaction or a series of related transactions) of all or
substantially all of the assets of the Company to any Person or group of
related Persons for purposes of Section 13(d) of the Exchange Act (a “Group”), together with any Affiliates thereof (whether or
not otherwise in compliance with the provisions of this Supplemental
Indenture);

(2)           the approval by the holders of the
Capital Stock of the Company of any plan or proposal for the liquidation or
dissolution of the Company (whether or not otherwise in compliance with the
provisions of this Supplemental Indenture);

 2
 

(3)           any Person or Group shall become the
owner, directly or indirectly, beneficially or of record, of shares
representing more than 50% of the aggregate ordinary voting power represented
by the issued and outstanding Capital Stock of the Company; or

(4)           the replacement of a majority of the
Board of Directors of the Company over a two-year period from the directors who
constituted the Board of Directors of the Company at the beginning of such
period, and such replacement shall not have been approved by a vote of at least
a majority of the Board of Directors of the Company then still in office who
either were members of such Board of Directors at the beginning of such period
or whose election as a member of such Board of Directors was previously so approved.

“Change of Control
Triggering Event” means the occurrence of both a Change of Control
and a Below Investment Grade Rating Event.

“Common Stock”
of any Person means any and all shares, interests or other participations in,
and other equivalents (however designated and whether voting or non-voting) of,
such Person’s common stock, and includes, without limitation, all series and
classes of such Common Stock.

“Consolidated Net Tangible
Assets” means, as of any date on which the Company effects a transaction
requiring such Consolidated Net Tangible Assets to be measured hereunder, the
aggregate amount of assets (less applicable reserves) after deducting
therefrom: (a) all current liabilities, except for current maturities of
long-term debt and obligations under capital leases; and (b) intangible assets,
to the extent included in said aggregate amount of assets, all as set forth in
the Company’s most recent consolidated balance sheet and computed in accordance
with GAAP applied on a consistent basis.

“Definitive Note”
means a certificated Note registered in the name of the Holder thereof and
issued in accordance with Section 2.02 hereof, substantially in the form of
Exhibit A hereto except that such Note will not bear the Global Note Legend.

“Depositary” means,
with respect to the Notes issuable or issued in whole or in part in global
form, the Person specified in Section 2.01 hereof as the Depositary, with
respect to the Notes, and any and all successors thereto appointed as
depositary hereunder and having become such pursuant to the applicable
provision of this Supplemental Indenture.

“Global Note Legend”
means the legend set forth in Section 2.02(f), which is required to be placed
on all Global Notes issued under this Supplemental Indenture.

“Global Notes” means,
individually and collectively, each of the Global Notes, in the form of Exhibit
A hereto issued in accordance with Section 2.01 hereof.

“Holder” means a
Person in whose name a Note is registered.

“Indenture”
means the Base Indenture, as supplemented by this Supplemental Indenture,
governing the Notes, in each case, as amended, supplemented or restated from
time to time.

“Indirect Participant”
means a Person who holds a beneficial interest in a Global Note through a
Participant.

“Initial Notes”
means the first $375,000,000 aggregate principal amount of Notes issued under
this Supplemental Indenture on the date hereof.

 3
 

“Investment Grade Rating”
means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and
BBB- (or the equivalent) by S&P.

“Lien” means,
with respect to any asset, any mortgage, lien, pledge, charge, security
interest or encumbrance of any kind in respect of such asset, whether or not
filed, recorded or otherwise perfected under applicable law, including any
conditional sale or other title retention agreement or any lease in the nature
thereof; provided that in no event will an
operating lease be deemed to constitute a Lien.

“Moody’s” means
Moody’s Investors Service, Inc.

“Notes” has the
meaning assigned to it in the preamble to this Supplemental Indenture.  The Initial Notes and the Additional Notes
will be treated as a single class for all purposes under this Supplemental
Indenture, and unless the context otherwise requires, all references to the
Notes will include the Initial Notes and any Additional Notes.

“Participant”
means, with respect to the Depositary, a Person who has an account with the
Depositary.

“Preferred Stock”
of any Person means any Capital Stock of such Person that has preferential
rights to any other Capital Stock of such Person with respect to dividends or
redemptions or upon liquidation.

“Principal Property”
means the land, improvements, buildings, fixtures and equipment (including any
leasehold interest therein) constituting the principal corporate office, any
manufacturing, assembly or test plant, or any manufacturing, assembly, test,
distribution or research facility (in each case, whether now owned or hereafter
acquired) which is owned or leased by the Company or any Subsidiary and is
located within the United States of America, the United Kingdom, Malaysia and
China unless the Company’s chief executive officer or chief financial officer
has determined in good faith that such office, plant or facility is not of
material importance to the total business conducted by the Company and its
Subsidiaries taken as a whole.  With
respect to any Sale and Lease-Back Transaction or series of related Sale and
Lease-Back Transactions, the determination of whether any property is a
Principal Property shall be determined by reference to all properties affected
by such transaction or series of transactions.

“Rating Agencies”
means (1) each of Moody’s and S&P; and (2) of either Moody’s or S&P
ceases to rate the Notes or fails to make a rating of the Notes publicly
available for reasons outside of the Company’s control, a “nationally
recognized statistical rating organization” within the meaning of Rule
15c3-1(e)(2)(vi)(F) under the Exchange Act, selected by the Company (as
certified by a resolution of its Board of Directors) as a replacement agency
for Moody’s or S&P, or both, as the case may be.

“S&P” means
Standard & Poor’s Ratings Services, a division of The McGraw-Hill
Companies, Inc.

“Sale and Lease-Back
Transaction” means any arrangement with any Person providing for the
leasing by the Company or any Subsidiary of any Principal Property, whether now
owned or hereafter acquired, which Principal Property has been or is to be sold
or transferred by the Company or such Subsidiary to such Person.

“Subsidiary”
means any corporation, limited liability company or other similar type of
entity in which the Company and/or one or more of its subsidiaries together own
voting stock, membership interests or other capital securities having the power
to elect a majority of the Board of Directors or similar governing body of such
corporation, limited liability company or other similar type of entity, 

 4
 

directly or
indirectly.  For the purposes of this
definition, “voting stock” means stock or
other capital securities which ordinarily have voting power for the election of
directors or similar governing body, whether at all times or only so long as no
senior class of stock or other capital securities have such voting power by
reason of any contingency.

“Supplemental Indenture”
means this Supplemental Indenture, dated as of the date hereof, by and among
the Company and the Trustee, governing the Notes, as amended, supplemented or
otherwise modified from time to time in accordance with the Base Indenture and
the terms hereof.

“Treasury Rate”
means, with respect to a date of redemption, the yield to maturity at the time
of the computation of United States Treasury securities with a constant
maturity (as compiled and published in the most recent Federal Reserve
Statistical Release H.15(519) that has become publicly available on the third
Business Day prior to the Company’s providing notice of redemption (or, if such
Statistical Release is no longer published, any publicly available source of
similar market data)) most nearly equal to the period from such date of
redemption to the Stated Maturity of the Notes; provided,
however, that if the period from such
date of redemption to the Stated Maturity is not equal to the constant maturity
of the United States Treasury security for which a weekly average yield is
given, the Treasury Rate shall be obtained by linear interpolation (calculated
to the nearest one-twelfth of a year) from the weekly average yields of United
States Treasury securities for which such yields are given, except that if the
period from such date of redemption to the Stated Maturity is less than one
year, the weekly average yield on actually traded United States Treasury
securities adjusted to a constant maturity of one year shall be used.

Section 1.03                           Other
Definitions.

	
  Term

  	
   

  	
  Defined in

  Section

  
	
  “Change
  of Control Date”

  	
   

  	
  4.02

  
	
  “Change
  of Control Offer”

  	
   

  	
  4.02

  
	
  “Change
  of Control Payment Date”

  	
   

  	
  4.02

  
	
  “Change
  of Control Purchase Date”

  	
   

  	
  4.02

  
	
  “Change
  of Control Purchase Price”

  	
   

  	
  4.02

  
	
  “DTC”

  	
   

  	
  2.01

  
	
  “Event
  of Default”

  	
   

  	
  6.01

  
	
  “Mortgage”

  	
   

  	
  4.01

  
	
  “Redemption
  Date”

  	
   

  	
  3.03

  

 

ARTICLE
2.

THE NOTES

Section 2.01                           Form
and Dating.

(a)           General.  The Notes and the Trustee’s certificate of
authentication will be substantially in the form of Exhibit A
hereto.  The Notes may have notations,
legends or endorsements required by law, stock exchange rule or usage.  Each Note will be dated the date of its
authentication.  The Notes will be in
denominations of $2,000 with integral multiples of $1,000 thereof.

The terms and provisions contained in the Notes will
constitute, and are hereby expressly made, a part of this Supplemental
Indenture and the Company and the Trustee, by their execution and delivery of
this Supplemental Indenture, expressly agree to such terms and provisions and
to be bound thereby.  

 5
 

However, to the extent any provision of any Note
conflicts with the express provisions of the Indenture, the provisions of the
Indenture will govern and be controlling.

(b)           Global Notes.  Notes issued in global form will be
substantially in the form of Exhibit A attached hereto (including the
Global Note Legend thereon).  Notes
issued in definitive form will be substantially in the form of Exhibit A
attached hereto (but without the Global Note Legend thereon).  Each Global Note will represent such of the
outstanding Notes as will be specified therein and each will provide that it
will represent the aggregate principal amount of outstanding Notes from time to
time endorsed thereon and that the aggregate principal amount of outstanding
Notes represented thereby may from time to time be reduced or increased, as
appropriate, to reflect exchanges and redemptions.  Any endorsement of a Global Note to reflect
the amount of any increase or decrease in the aggregate principal amount of
outstanding Notes represented thereby will be made by the Trustee or the
Custodian, at the direction of the Trustee, in accordance with instructions
given by the Holder thereof as  required
by Section 2.02 hereof.  The Company
initially appoints The Depositary Trust Company (“DTC”) to act as Depositary with respect to the Global
Notes.

Section 2.02                           Transfer
and Exchange.

(a)           Transfer and Exchange of
Global Notes.  A Global Note
may not be transferred as a whole except by the Depositary to a nominee of the
Depositary, by a nominee of the Depositary to the Depositary or to another
nominee of the Depositary, or by the Depositary or any such nominee to a
successor Depositary or a nominee of such successor Depositary.  All Global Notes will be exchanged by the
Company for Definitive Notes if:

(1)           the Company delivers to
the Trustee notice from the Depositary that it is unwilling or unable to
continue to act as Depositary or that it is no longer a clearing agency
registered under the Exchange Act and, in either case, a successor Depositary
is not appointed by the Company within 90 days after the date of such notice
from the Depositary; or

(2)           the Company in its sole
discretion determines that the Global Notes (in whole but not in part) should
be exchanged for Definitive Notes and delivers a written notice to such effect
to the Trustee.

Upon the occurrence of either of the preceding events
in (1) or (2) above, Definitive Notes will be issued in such names and in any
approved denominations as the Depositary will instruct the Trustee.  Global Notes also may be exchanged or
replaced, in whole or in part, as provided in Sections 2.08 and 2.11 of the
Base Indenture.  Every Note authenticated
and delivered in exchange for, or in lieu of, a Global Note or any portion
thereof, pursuant to this Section 2.02 or Sections 2.08 or 2.11 of the Base
Indenture, will be authenticated and delivered in the form of, and will be, a
Global Note.  A Global Note may not be
exchanged for another Note other than as provided in this Section 2.02(a),
however, beneficial interests in a Global Note may be transferred and exchanged
as provided in Sections 2.02(b), (c) or (g) hereof.

(b)           Transfer and Exchange of
Beneficial Interests in the Global Notes.  The transfer and exchange of beneficial
interests in the Global Notes will be effected through the Depositary, in
accordance with the provisions of this Supplemental Indenture and the
Applicable Procedures.  Transfers of
beneficial interests in the Global Notes also will require compliance with
either subparagraph (1) or (2) below, as applicable, as well as one or more of
the other following subparagraphs, as applicable:

(1)           Transfer of
Beneficial Interests in the Same Global Note.  Beneficial interests in any Global Note may
be transferred to Persons who take delivery thereof in the form of a 

 6
 

beneficial
interest in a Global Note.  No written
orders or instructions will be required to be delivered to the Registrar to
effect the transfers described in this Section 2.02(b)(1).

(2)           All Other
Transfers and Exchanges of Beneficial Interests in Global Notes.  In connection with all transfers and
exchanges of beneficial interests that are not subject to Section 2.02(b)(1)
above, the transferor of such beneficial interest must deliver to the Registrar
either:

(A)          (i)  a written
order from a Participant or an Indirect Participant given to the Depositary in
accordance with the Applicable Procedures directing the Depositary to credit or
cause to be credited a beneficial interest in another Global Note in an amount
equal to the beneficial interest to be transferred or exchanged; and

(ii)  instructions given in accordance with the
Applicable Procedures containing information regarding the Participant account
to be credited with such increase.

Upon satisfaction of all of the requirements for
transfer or exchange of beneficial interests in Global Notes contained in this
Supplemental Indenture and the Notes or otherwise applicable under the
Securities Act, the Trustee will adjust the principal amount of the relevant
Global Note(s) pursuant to Section 2.02(g) hereof.

(c)           Transfer or Exchange of
Beneficial Interests for Definitive Notes.

If any holder of a beneficial interest in a Global
Note proposes to exchange such beneficial interest for a Definitive Note or to
transfer such beneficial interest to a Person who takes delivery thereof in the
form of a Definitive Note, then, upon satisfaction of the conditions set forth
in Section 2.02(b)(2) hereof, the Trustee will cause the aggregate principal
amount of the applicable Global Note to be reduced accordingly pursuant to
Section 2.02(g) hereof, and the Company will execute and the Trustee will
authenticate and deliver to the Person designated in the instructions a
Definitive Note in the appropriate principal amount. Any Definitive Note issued
in exchange for a beneficial interest pursuant to this Section 2.02(c) will be
registered in such name or names and in such authorized denomination or
denominations as the holder of such beneficial interest requests through
instructions to the Registrar from or through the Depositary and the
Participant or Indirect Participant.  The
Trustee will deliver such Definitive Notes to the Persons in whose names such
Notes are so registered.

(d)           Transfer and Exchange of
Definitive Notes for Beneficial Interests.

A Holder of a Definitive Note may exchange such Note
for a beneficial interest in a Global Note or transfer such Definitive Notes to
a Person who takes delivery thereof in the form of a beneficial interest in a
Global Note at any time.  Upon receipt of
a request for such an exchange or transfer, the Trustee will cancel the
applicable Definitive Note and increase or cause to be increased the aggregate
principal amount of one of the Global Notes.

If any such exchange or transfer from a Definitive
Note to a beneficial interest is effected pursuant to the previous paragraph at
a time when a Global Note has not yet been issued, the Company will issue and,
upon receipt of the Company’s order, the Trustee will authenticate one or more
Global Notes in an aggregate principal amount equal to the principal amount of
Definitive Notes so transferred.

A Holder of Definitive Notes may transfer such Notes
to a Person who takes delivery thereof in the form of a Definitive Note.

 7
 

(e)           Transfer and Exchange of
Definitive Notes for Definitive Notes.  Upon request by a Holder of Definitive Notes
and such Holder’s compliance with the provisions of this Section 2.02(e), the
Registrar will register the transfer or exchange of Definitive Notes.  Prior to such registration of transfer or
exchange, the requesting Holder will present or surrender to the Registrar the
Definitive Notes duly endorsed or accompanied by a written instruction of
transfer in form satisfactory to the Registrar duly executed by such Holder or
by his attorney, duly authorized in writing. 
In addition, the requesting Holder will provide any additional
certifications, documents and information, as applicable, required pursuant to
the following provisions of this Section 2.02(e).

(f)            Legends.  The following legends will appear on the face
of all Global Notes issued under this Supplemental Indenture unless
specifically stated otherwise in the applicable provisions of this Supplemental
Indenture.

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS  DEFINED IN THE SUPPLEMENTAL INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE  BENEFICIAL OWNERS HEREOF, AND IS NOT
TRANSFERABLE TO ANY  PERSON UNDER ANY
CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY
BE  REQUIRED PURSUANT TO SECTION 2.02 OF
THE SUPPLEMENTAL INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED  IN WHOLE BUT NOT IN PART PURSUANT TO SECTION
2.02(a) OF THE SUPPLEMENTAL INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED
TO THE TRUSTEE FOR  CANCELLATION PURSUANT
TO SECTION 2.12 OF THE BASE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE
TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE
COMPANY.

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART
FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A
WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE
DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH
SUCCESSOR DEPOSITARY.  UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”)
TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT,
AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH
OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.”

(g)           Cancellation and/or
Adjustment of Global Notes. 
At such time as all beneficial interests in a particular Global Note
have been exchanged for Definitive Notes or a particular Global Note has been
redeemed, repurchased or canceled in whole and not in part, each such Global
Note will be returned to or retained and canceled by the Trustee in accordance
with Section 2.12 of the Base Indenture. 
At any time prior to such cancellation, if any beneficial interest in a
Global Note is exchanged for or transferred 

 8
 

to a Person who will take delivery thereof in the form of a beneficial
interest in another Global Note or for Definitive Notes, the principal amount
of Notes represented by such Global Note will be reduced accordingly and an
endorsement will be made on such Global Note by the Trustee or by the
Depositary at the direction of the Trustee to reflect such reduction; and if
the beneficial interest is being exchanged for or transferred to a Person who
will take delivery thereof in the form of a beneficial interest in another
Global Note, such other Global Note will be increased accordingly and an
endorsement will be made on such Global Note by the Trustee or by the
Depositary at the direction of the Trustee to reflect such increase.

(h)           General Provisions
Relating to Transfers and Exchanges.

(1)           To permit registrations
of transfers and exchanges, the Company will execute and the Trustee will
authenticate Global Notes and Definitive Notes upon the Company’s order or at
the Registrar’s request.

(2)           No service charge will
be made to a holder of a beneficial interest in a Global Note or to a Holder of
a Definitive Note for any registration of transfer or exchange, but the Company
may require payment of a sum sufficient to cover any transfer tax or similar
governmental charge payable in connection therewith (other than any such
transfer taxes or similar governmental charge payable upon exchange or transfer
pursuant to Section 4.02 hereof and Sections 2.11, 3.06 and 9.05 of the Base
Indenture).

(3)           The Registrar will not
be required to register the transfer of or exchange any Note selected for
redemption in whole or in part, except the unredeemed portion of any Note being
redeemed in part.

(4)           All Global Notes and
Definitive Notes issued upon any registration of transfer or exchange of Global
Notes or Definitive Notes will be the valid obligations of the Company,
evidencing the same debt, and entitled to the same benefits under this
Supplemental Indenture, as the Global Notes or Definitive Notes surrendered
upon such registration of transfer or exchange.

(5)           The Company will not be
required:

(A)  to issue, to register the transfer of or to
exchange any Notes during a period of 15 days before the day of any selection
of Notes for redemption under Section 3.02 of the Base Indenture and ending at
the close of business on the day of selection;

(B)  to register the transfer of or to exchange
any Note so selected for redemption in whole or in part, except the unredeemed
portion of any Note being redeemed in part; or

(C)  to register the transfer of or to exchange a
Note between a record date and the next succeeding interest payment date.

(6)           Prior to due
presentment for the registration of a transfer of any Note, the Trustee, any
Agent and the Company may deem and treat the Person in whose name any Note is
registered as the absolute owner of such Note for the purpose of receiving
payment of principal of and interest on such Notes and for all other purposes,
and none of the Trustee, any Agent or the Company will be affected by notice to
the contrary.

 9
 

(7)           The Trustee will
authenticate Global Notes and Definitive Notes in accordance with the
provisions of Section 2.03 of the Base Indenture.

(8)           All certifications,
certificates and Opinions of Counsel required to be submitted to the Registrar
pursuant to this Section 2.02 to effect a registration of transfer or exchange
may be submitted by facsimile.

(9)           The Trustee shall have
no obligation or duty to monitor, determine or inquire as to compliance with
any restrictions on transfer imposed under this Supplemental Indenture or under
applicable law with respect to any transfer of any interest in any Note other
than to require delivery of such certificates and other documentation or
evidence as are expressly required by, and to do so if and when expressly
required by the terms of, this Supplemental Indenture, and to examine the same
to determine substantial compliance as to form with the express requirements
hereof.

(10)         Neither the Trustee nor
any Agent shall have any responsibility for any actions taken or not taken by
the Depositary.

Section 2.03                           Issuance
of Additional Notes.

The Company will be entitled, upon delivery of an
Officer’s Certificate and an Opinion of Counsel, to issue Additional Notes
under this Supplemental Indenture which will have identical terms as the
Initial Notes issued on the date hereof, other than with respect to the date of
issuance and issue price.  The Initial
Notes issued on the date hereof and any Additional Notes issued will be treated
as a single class for all purposes under this Supplemental Indenture.

With respect to any Additional Notes, the Company will
set forth in a resolution of its Board of Directors and an Officer’s
Certificate, a copy of each which will be delivered to the Trustee, the
following information:

(a)           the aggregate principal amount of such
Additional Notes to be authenticated and delivered pursuant to this
Supplemental Indenture; and

(b)           the issue price, the issue date and the
CUSIP number of such Additional Notes.

ARTICLE
3.

REDEMPTION AND PREPAYMENT

Section 3.01                           Notice
of Redemption.

The Company will deliver to the Trustee, at least 45
days prior to the redemption date (or such shorter period as the Trustee in its
sole discretion may allow), an Officer’s Certificate requesting that the
Trustee give such notice and setting forth the information to be stated in such
notice as provided in Section 3.01 of the Base Indenture.

Section 3.02                           Notes
Redeemed in Part.

No Notes of $2,000 or less can be redeemed in part.

 10
 

Section 3.03                           Optional
Redemption.

At any time prior to June 15, 2012, the Company may,
on any one or more occasions, redeem, in whole or in part, at a redemption
price equal to the greater of the following amounts, plus, in each case,
accrued and unpaid interest, if any, on the principal amount of the Notes being
redeemed to the date of redemption or purchase (“Redemption
Date”) (subject to the right of the holders of record on the
relevant record date to receive interest due on the relevant interest payment
date):

(i)            100% of the aggregate
principal amount of the Notes to be redeemed; or

(ii)           the sum of the present
value at such Redemption Date of (1) the principal amount of the Notes on the
Redemption Date plus (2) all required remaining scheduled interest payments due
on such Notes (but not including any portion of such payments of interest
accrued to the Redemption Date) through the Stated Maturity computed using a
discount rate equal to the Treasury Rate plus 15 basis points.

Calculation of the foregoing shall be made by the
Company or on the Company’s behalf by such Person as the Company shall
designate; provided, however,
that such calculation shall not be a duty or obligation of the Trustee.

On and after the Redemption Date, interest will cease
to accrue on the Notes or portions thereof called for redemption as long as the
Company has deposited with the Paying Agent funds in satisfaction of the
applicable redemption price.

Section 3.04                           Mandatory
Redemption.

The Company is not required to make any mandatory
redemption or sinking fund payments with respect to the Notes.

ARTICLE
4.

PARTICULAR COVENANTS

Section 4.01                           Liens.

The Company will not, and will not permit any of its
Subsidiaries to, issue, incur, create, assume or guarantee any debt for
borrowed money (including all obligations evidenced by bonds, debentures, notes
or similar instruments) secured by a mortgage, deed of trust, security
interest, pledge, lien, charge or other encumbrance (collectively, a “Mortgage”) upon any Principal
Property or upon any shares of stock or indebtedness of any Subsidiary that
owns or leases any Principal Property (whether such Principal Property, shares
or indebtedness are now existing or owed or hereafter created or acquired)
without in any such case effectively providing, concurrently with the issuance,
incurrence, creation, assumption or guaranty of any such secured debt, or the grant
of such Mortgage, that the Notes (together with, if the Company shall so
determine, any other indebtedness of or guarantee by the Company or such
Subsidiary ranking equally with the Notes) shall be secured equally and ratably
with (or, at the Company’s option, prior to) such secured debt.  The foregoing restriction, however will not
apply to each of the following: (a) Mortgages on property, shares of stock or
indebtedness or other assets of any Person existing at the time such Person
becomes a Subsidiary, provided that such Mortgages are not incurred in
anticipation of such Person’s becoming a Subsidiary; (b)  Mortgages on property, shares of stock or
indebtedness or other assets existing at the time of acquisition thereof by us
or a Subsidiary, or Mortgages thereon to 

 11
 

secure the payment of all or any part of the purchase
price thereof, or Mortgages on property, shares of stock or indebtedness or
other assets to secure any debt incurred prior to, at the time of, or within
180 days after, the latest of the acquisition thereof or, in the case of
property, the completion of construction, the completion of improvements or the
commencement of substantial commercial operation of such property for the
purpose of financing all or any part of the purchase price thereof, such
construction or the making of such improvements; (c) Mortgages in favor of the
Company or a Subsidiary to secure indebtedness owing to the Company or to a
Subsidiary; (d) Mortgages existing at the date of the initial issuance of the
Notes; (e) Mortgages on property of a Person existing at the time such Person
is merged into or consolidated with the Company or a Subsidiary or at the time
of a sale, lease or other disposition of properties of such Person as an
entirety or substantially as an entirety to the Company or a Subsidiary, provided that such Mortgage was not incurred in anticipation
of such merger or consolidation or sale, lease or other disposition; (f)
Mortgages in favor of the United States of America or any state, territory or
possession thereof (or the District of Columbia), to secure partial, progress,
advance or other payments pursuant to any contract or statute or to secure any
indebtedness incurred for the purpose of financing all or any part of the
purchase price or the cost of constructing or improving the property subject to
such Mortgages; or (g) extensions, renewals or replacements of any Mortgage
referred to in the foregoing clauses (a), (b), (d), (e) or (f); provided, however, that
(i) the principal amount of indebtedness secured thereby shall not exceed the
principal amount of indebtedness so secured at the time of such extension,
renewal or replacement and (ii) such extension, renewal or replacement
Mortgages will be limited to all or part of the same property and improvement
thereon which secured the indebtedness so secured at the time of such
extension, renewal or replacement.  Any
Mortgages permitted by any of the foregoing clauses (a) through (g) shall not
extend to or cover any other Principal Property, or any share of stock or
indebtedness of any Subsidiary that owns or leases any Principal Property,
subject to the foregoing limitations, other than the property, including
improvements thereto, stock or indebtedness specified in such clauses.

Notwithstanding the restrictions set forth in the
preceding paragraph, the Company or any Subsidiary may issue, incur, create,
assume or guarantee debt secured by a Mortgage which would otherwise be subject
to such restrictions, without equally and ratably securing the Notes, provided that after giving effect thereto, the aggregate
amount of all debt so secured by Mortgages (not including Mortgages permitted
under clauses (a) through (g) above) plus the aggregate amount of Attributable
Debt permitted pursuant to Section 4.03 hereof does not exceed 15% of the
Company’s Consolidated Net Tangible Assets.

Section 4.02                           Offer
to Purchase Upon Change of Control Triggering Event.

(a)           Upon the occurrence of a Change of Control
Triggering Event (the date of such occurrence, the “Change of Control Date”), each Holder shall have the
right to require the Company to purchase such Holder’s Notes in whole or in
part at a purchase price (the “Change of
Control Purchase Price”) equal to 101% of the principal amount
of such Notes, plus accrued and unpaid interest, if any, to the date of
purchase (the “Change of Control Purchase
Date”), pursuant to and in accordance with the offer described
in this Section 4.02 (the “Change of
Control Offer”).

(b)           Within 30 days following the Change of
Control Date the Company shall send, by first class mail, a notice to each
Holder, with a copy to the Trustee, which notice shall govern the terms of the
Change of Control Offer.  Such notice
shall state:

(i)            that the Change of
Control Offer is being made pursuant to this Section 4.02 and that all Notes
validly tendered will be accepted for payment;

 12
 

(ii)           the Change of Control
Purchase Price and the Change of Control Purchase Date, which shall be a
Business Day that is no earlier than 30 days nor later than 60 days from the date
such notice is mailed (the “Change of Control Payment Date”) other than as may be
required by law;

(iii)          that any Note not
tendered will continue to accrue interest;

(iv)          that any Note accepted
for payment pursuant to the Change of Control Offer shall cease to accrue
interest after the Change of Control Payment Date unless the Company shall
default in the payment of the Change of Control Purchase Price of the Notes and
the only remaining right of the Holder is to receive payment of the Change of
Control Purchase Price upon surrender of the Notes to the Paying Agent;

(v)           that Holders electing
to have a portion of a Note purchased pursuant to a Change of Control Offer may
only elect to have such Note purchased in integral multiples of $1,000;

(vi)          that if a Holder elects
to have a Note purchased pursuant to the Change of Control Offer it will be
required to surrender the Note, with the form entitled “Option of Holder to
Elect Purchase” on the reverse of the Note completed, or transfer by book-entry
transfer, to the Paying Agent at the address specified in the notice prior to
the close of business on the third Business Day prior to the Change of Control
Payment Date;

(vii)         that a Holder will be
entitled to withdraw its election if the Company receives, not later than the
third Business Day preceding the Change of Control Payment Date, a telegram,
telex, facsimile transmission or letter setting forth the name of such Holder,
the principal amount of Notes such Holder delivered for purchase, and a
statement that such Holder is withdrawing its election to have such Note
purchased; and

(viii)        that if Notes are
purchased only in part a new Note of the same type will be issued in principal
amount equal to the unpurchased portion of the Notes surrendered.

(c)           On or before the Change of Control Payment
Date, the Company shall, to the extent lawful, accept for payment, all Notes or
portions thereof validly tendered pursuant to the Change of Control Offer, and
shall deliver to the Trustee an Officer’s Certificate stating that such Notes
or portions thereof were accepted for payment by the Company in accordance with
the terms of this Section 4.02.  The
Company, the Depositary or the Paying Agent, as the case may be, shall promptly
mail or deliver to each tendering Holder an amount equal to the purchase price
of the Notes tendered by such Holder and accepted by the Company for purchase,
and the Company shall promptly issue a new Note, and the Trustee, upon written
request from the Company shall authenticate and mail or deliver such new Note
to such Holder, in a principal amount equal to any unpurchased portion of the
Note surrendered.  Any Note not so
accepted shall be promptly mailed or delivered by the Company to the Holder
thereof.

(d)           The Company shall comply with the requirements
of Rule 14e-1 under the Exchange Act and any other securities laws and
regulations thereunder to the extent such laws and regulations are applicable
in connection with the repurchase of Notes pursuant to an offer hereunder.  To the extent the provisions of any
securities laws or regulations conflict with the provisions under this Section
4.02, the Company shall comply with the applicable securities laws and
regulations and shall not be deemed to have breached its obligations under this
Section 4.02 by virtue thereof.

 13
 

Section 4.03                           Sale
and Lease-Back Transactions.

The Company will not, and will not permit any of its
Subsidiaries to, enter into any Sale and Lease-Back Transaction with respect to
any Principal Property, other than any such Sale and Lease-Back Transaction
involving a lease for a term of not more than three years or any such Sale and
Lease-Back Transaction between the Company and one of its Subsidiaries, or
between Subsidiaries, unless:

(i)            the Company or such Subsidiary, as
applicable, would be entitled to incur indebtedness secured by a Mortgage on
Principal Property involved in such Sale and Lease-Back Transaction at least
equal in amount to the Attributable Debt with respect to such Sale and
Lease-Back Transaction, without equally and ratably securing the Notes,
pursuant to Section 4.01 hereof; or

(ii)           the proceeds of such Sale and Lease-Back
Transaction are at least equal to the fair market value of the affected
Principal Property (as determined in good faith by the Company’s Board of Directors)
and the Company applies an amount equal to the greater of the net proceeds of
such Sale and Lease-Back Transaction or the Attributable Debt with respect to
such Sale and Lease-Back Transaction within 180 days of such Sale and
Lease-Back Transaction to either (or a combination of): (A) the prepayment or
retirement (other than any mandatory retirement, mandatory prepayment or
sinking fund payment or by payment at maturity) of debt for borrowed money of
the Company or a Subsidiary (other than debt that is subordinated to the Notes
or debt owed to the Company by a Subsidiary) that matures more than 12 months
after its creation or (B) the purchase, construction, development, expansion or
improvement of other comparable property.

ARTICLE
5.

SUCCESSORS

Section 5.01                           Merger,
Consolidation or Sale of Assets.

The Company shall not merge or consolidate with any
other Person or Persons (whether or not affiliated with the Company) or sell,
convey, transfer, lease or otherwise dispose of all or substantially all of its
property or assets to any other Person or Persons (whether or not affiliated
with the Company), unless:

(i)            either: 
(a) the transaction is a merger or consolidation and the Company is the
surviving entity; or (b) the successor Person (or the Person which acquires by
sale, conveyance, transfer or lease all or substantially all of the Company’s
property or assets) is a corporation organized under the laws of the United
States, any state thereof or the District of Columbia and expressly assumes, by
a supplemental indenture satisfactory to the Trustee, all of the Company’s
obligations under the Notes and the Indenture;

(ii)           immediately after giving effect to the
transaction and treating the Company’s obligations in connection with or as a
result of such transaction as having been incurred as of the time of such
transaction, no Event of Default (and no event or condition which, after notice
or lapse of time or both, would become an Event of Default) shall have occurred
and be continuing under the Indenture; and

(iii)          an Officer’s Certificate is delivered to the
Trustee to the effect that both of the conditions set forth in clauses (i) and
(ii) above have been satisfied and an opinion of counsel has been delivered to
the Trustee to the effect that condition (i) set forth above has been
satisfied.

 14
 

ARTICLE
6.

DEFAULTS AND REMEDIES

Section 6.01                           Events
of Default.

The Notes shall not have the benefit of the Events of
Default set forth in the Base Indenture. 
Instead, each of the following is an “Event
of Default” with respect to the Notes:

(a)           the failure to pay interest on any Notes
when the same becomes due and payable and the default continues for a period of
90 days;

(b)           default in the payment when due of principal
of or premium, if any, on the Notes;

(c)           default in the performance or breach of any
covenant or warranty of the Company in this Supplemental Indenture, which
default continues uncured for a period of 90 days after written notice given by
the Trustee or Holders of such Notes, or the Company and the Trustee receive
written notice from the Holders of not less than a majority in aggregate
principal amount of the Notes outstanding; or

(d)           the Company:

(i)            commences a voluntary
case in bankruptcy,

(ii)           consents to the entry
of an order for relief against it in an involuntary bankruptcy case,

(iii)          consents to the
appointment of a custodian of it or for all or substantially all of its
property,

(iv)          makes a general
assignment for the benefit of its creditors, or

(v)           generally is not paying
its debts as they become due; or

(e)           a court of competent jurisdiction enters an
order or decree under any Bankruptcy Law that:

(i)            is for relief against
the Company;

(ii)           appoints a custodian of
the Company for all or substantially all of the property of the Company; or

(iii)          orders the liquidation
of the Company;

and the order or decree remains unstayed and in effect
for 90 consecutive days.

 15
 

ARTICLE
7.

MISCELLANEOUS

Section 7.01                           Trust
Indenture Act Controls.

If any provision of this Supplemental Indenture
limits, qualifies or conflicts with the duties imposed by TIA Section 318(c),
the imposed duties will control.

Section 7.02                           Governing
Law.

THE INTERNAL LAWS OF THE STATE OF NEW YORK WILL GOVERN
AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE AND THE NOTES WITHOUT GIVING
EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE
APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

Section 7.03                           Successors.

All agreements of the Company in this Supplemental
Indenture and the Notes will bind its successors.  All agreements of the Trustee in this
Supplemental Indenture will bind its successors.

Section 7.04                           Severability.

In case any provision in this Supplemental Indenture
or in the Notes will be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions will not in any way be
affected or impaired thereby.

Section 7.05                           Counterpart
Originals.

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

Section 7.06                           Table
of Contents, Headings, Etc.

The Table of Contents and Headings of the Articles and
Sections of this Supplemental Indenture have been inserted for convenience of
reference only, are not to be considered a part of this Supplemental Indenture
and will in no way modify or restrict any of the terms or provisions hereof.

[Signatures on
following page]

 16

SIGNATURES

	
  Dated as of June     , 2007

  
	
   

  
	
   

  
	
   

  	
  NATIONAL SEMICONDUCTOR CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  THE BANK OF NEW YORK TRUST COMPANY,

  
	
   

  	
  N.A., as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

EXHIBIT
A

(Face of Note)

[Insert the Global Note Legend,
if applicable pursuant to the provisions of the Supplemental Indenture]

CUSIP 637640 AD5

6.150% Senior Notes due 2012

	
  No.

  	
   

  	
  $

  

 

NATIONAL SEMICONDUCTOR
CORPORATION

	
  promises
  to pay to

  	
   

  	
  or registered assigns, the principal sum of

  
	
  Dollars on June 15, 2012.

  	
   

  	
   

  

 

Interest Payment Dates:  June 15 and December 15

Record Dates: 
June 1 and December 1

Dated:

	
  

  	
  NATIONAL SEMICONDUCTOR CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

Date of Authentication:

This is one of the Global

Notes referred to in the

within-mentioned Supplemental Indenture:

Dated:

THE BANK OF NEW YORK TRUST COMPANY, N.A.

as Trustee

	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 A-1
 

(Back of Note)

6.150% Senior Notes due 2012

Capitalized terms used herein have the meanings
assigned to them in the Indenture referred to below unless otherwise indicated.

1.             INTEREST.  National Semiconductor Corporation, a
Delaware corporation (the “Company”),
promises to pay interest on the principal amount of this Note at 6.150% per
annum from the date hereof until maturity. 
The Company will pay interest semi-annually on June 15 and December 15
of each year, or if any such day is not a Business Day, on the next succeeding
Business Day (each an “Interest Payment Date”).  Interest on the Notes will accrue from the
most recent date to which interest has been paid or, if no interest has been
paid, from the date of issuance; provided that
if there is no existing Default in the payment of interest, and if this Note is
authenticated between a record date referred to on the face hereof and the next
succeeding Interest Payment Date, interest will accrue from such next
succeeding Interest Payment Date; provided, further,
that the first Interest Payment Date will be December 15, 2007.  The Company will pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue
principal at the rate equal to the then applicable interest rate on the Notes
to the extent lawful; it will pay interest (including post-petition interest in
any proceeding under any Bankruptcy Law) on overdue installments of interest at
the same rate to the extent lawful. 
Interest will be computed on the basis of a 360-day year of twelve
30-day months.

2.             METHOD OF PAYMENT.  The Company will pay interest on the Notes
(except defaulted interest) to the Persons who are registered Holders of Notes
at the close of business on the June 1 or December 1 next preceding the
Interest Payment Date, even if such Notes are canceled after such record date
and on or before such Interest Payment Date, except as provided in Section 2.13
of the Base Indenture with respect to defaulted interest.  Principal, premium, if any, and interest on
the Notes will be payable at the office or agency of the Paying Agent and
Registrar within the City and State of New York or, at the option of the
Company, payment of interest may be made by check mailed to the Holders of the
Notes at their respective addresses set forth in the register of Holders of
Notes; provided that all payments of principal,
premium and interest with respect to Notes the Holders of which have given wire
transfer instructions to the Trustee will be required to be made by wire
transfer of immediately available funds to the accounts specified by the
Holders thereof. Such payment will be in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of public
and private debts.

3.             PAYING AGENT AND REGISTRAR.  Initially, The Bank of New York Trust
Company, N.A., the Trustee under the Indenture, will act as Paying Agent and
Registrar.  The Company may change any
Paying Agent or Registrar without notice to any Holder.  The Company or any of its Subsidiaries may
act in any such capacity.

4.             INDENTURE.  This Note is one of a duly authenticated
series of securities of the Company issued and to be issued in one or more
series under an indenture (the “Base Indenture”),
dated as of June 18, 2007 between the Company and the Trustee, as amended by
the Supplemental Indenture (the “Supplemental Indenture”
and, together with the Base Indenture, the “Indenture”),
dated as of June 18, 2007, between the Company and the Trustee.  The terms of the Notes include those stated
in the Indenture and those made part of the Indenture by reference to the Trust
Indenture Act of 1939, as amended (15 U.S. Code Sections 77aaa-77bbbb).  The Notes are subject to all such terms, and
Holders are referred to the Indenture and such Act for a statement of such
terms.  To the extent any provision of
this Note conflicts with the express provisions of the Indenture, the
provisions of the Indenture will govern and be controlling, and to the extent
any provision of the Base Indenture conflicts with the express provisions of
the Supplemental Indenture, the provisions of the Supplemental Indenture will
govern and

 A-2
 

be controlling.  The Company will be entitled to issue
Additional Notes pursuant to Section 2.03 of the Supplemental Indenture.

5.             OPTIONAL REDEMPTION.

At any time prior to June 15, 2012, the Company may,
on any one or more occasions, redeem, in whole or in part, at a redemption
price equal to the greater of the following amounts, plus, in each case,
accrued and unpaid interest, if any, on the principal amount of the Notes being
redeemed to the date of redemption or purchase (“Redemption
Date”) (subject to the right of the holders of record on the
relevant record date to receive interest due on the relevant interest payment
date):

(i)            100% of the aggregate principal
amount of the Notes to be redeemed; or

(ii)           the sum of the present value at such
Redemption Date of (1) the principal amount of the Notes on the Redemption Date
plus (2) all required remaining scheduled interest payments due on such Notes
(but not including any portion of such payments of interest accrued to the
Redemption Date) through the Stated Maturity computed using a discount rate
equal to the Treasury Rate plus 15 basis points.

Calculation of the foregoing shall be made by the
Company or on the Company’s behalf by such Person as the Company shall
designate; provided, however,
that such calculation shall not be a duty or obligation of the Trustee.

On and after the Redemption Date, interest will cease
to accrue on the Notes or portions thereof called for redemption as long as the
Company has deposited with the Paying Agent funds in satisfaction of the
applicable redemption price

6.             MANDATORY REDEMPTION.  Except as set forth in paragraph 7, the
Company shall not be required to make mandatory redemption payments with
respect to the Notes.

7.             REPURCHASE AT OPTION OF HOLDER.

Upon the occurrence of a Change of Control Triggering
Event, the Company will be required to offer to purchase all of the outstanding
Notes at a purchase price equal to 101% of the principal amount thereof, plus
accrued and unpaid interest, if any, to the date of purchase.

8.             NOTICE OF REDEMPTION.  Notice of redemption will be mailed at least
30 days but not more than 60 days before the redemption date to each Holder
whose Notes are to be redeemed at its registered address.  Notes in denominations larger than $2,000 may
be redeemed in part but only in whole multiples of $1,000, unless all of the
Notes held by a Holder are to be redeemed. 
On and after the redemption date interest ceases to accrue on Notes or
portions thereof called for redemption.

9.             DENOMINATIONS, TRANSFER,
EXCHANGE.  The Notes are in
registered form without coupons in denominations of $2,000 and integral
multiples of $1,000.  Notes may be
transferred or exchanged as provided in the Supplemental Indenture.  The Registrar and the Trustee may require a
Holder, among other things, to furnish appropriate endorsements and transfer
documents and the Company may require a Holder to pay any taxes and fees
required by law or permitted by the Supplemental Indenture.  The Company need not exchange or transfer any
Note or portion of a Note selected for redemption, except for the unredeemed
portion of any Note being redeemed in part. 
Also, the Company need not exchange or register the transfer of any
Notes for a period of 15 days before a

 A-3
 

selection of Notes to be
redeemed or during the period between a record date and the corresponding
Interest Payment Date.

10.           PERSONS DEEMED OWNERS.  The registered Holder of a Note may be
treated as its owner for all purposes.

11.           AMENDMENT, SUPPLEMENT AND
WAIVER.  The Base Indenture
may be amended as provided therein. 
Subject to certain exceptions, the Supplemental Indenture or the Notes
may be amended or supplemented with the consent of the Holders of at least a
majority in principal amount of the Notes then outstanding, including, without
limitation, consents obtained in connection with a purchase of, or tender offer
or exchange offer for, Notes, voting as a single class, and any existing
default or compliance with any provision of the Indenture or the Notes may be
waived with the consent of the Holders of a majority in principal amount of the
then outstanding Notes, including, without limitation, consents obtained in
connection with a purchase of, or tender offer or exchange offer for, Notes,
voting as a single class.  Without the
consent of any Holder of a Note, the Supplemental Indenture or the Notes may be
amended or supplemented (i) to cure any ambiguity, defect or inconsistency;
(ii) to provide for uncertificated Notes in addition to or in place of
certificated Notes; (iii) to provide for the assumption of the Company’s
obligations to Holders of the Notes in case of a merger or consolidation or
sale of all or substantially all of the Company’s assets;  (iv) to make any change that would provide
any additional rights or benefits to the Holders of the Notes or that does not
adversely affect the legal rights under the Supplemental Indenture of any such
Holder; (v) to comply with the requirements of the SEC in order to effect or
maintain the qualification of the Supplemental Indenture under the Trust
Indenture Act; (vi) to provide for the issuance of Additional Notes in
accordance with the Supplemental Indenture; or (vii) to evidence and provide
for the acceptance of appointment by a successor trustee.

12.           DEFAULTS AND REMEDIES.  An “EVENT OF DEFAULT” occurs if:  (i) default for a period of 90 days in the
payment when due of interest on the Notes; (ii) default in the payment when due
of principal of or premium, if any, on the Notes; (iii) the Company fails for
90 days after notice to the Company to comply with any covenant or warranty of
the Company in the Indenture; or (iv) certain events of bankruptcy or
insolvency occur with respect to the Company.

If any Event of Default occurs and is continuing, the
Trustee or the Holders of at least 25% in principal amount of the then
outstanding Notes may declare all the Notes to be due and payable.  Notwithstanding the foregoing, in the case of
an Event of Default arising from certain events of bankruptcy or insolvency
with respect to the Company, all outstanding Notes will become due and payable
without further action or notice. 
Holders may not enforce the Indenture or the Notes except as provided in
the Indenture.  Subject to certain
limitations, Holders of a majority in principal amount of the then outstanding
Notes may direct the Trustee in its exercise of any trust or power.  The Trustee may withhold from Holders of the
Notes notice of any continuing Default or Event of Default if it determines
that withholding notice is in their interest, except a Default or Event of
Default relating to the payment of principal or interest.  The Holders of a majority in aggregate
principal amount of the Notes then outstanding by notice to the Trustee may on
behalf of the Holders of all of the Notes waive any existing Default or Event
of Default and its consequences under the Indenture except a continuing Default
or Event of Default in the payment of interest on, or the principal of, the
Notes.  The Company is required to
deliver to the Trustee annually a statement regarding compliance with the
Indenture, and the Company is required upon becoming aware of any Default or
Event of Default, to deliver to the Trustee a statement specifying such Default
or Event of Default.

13.           TRUSTEE DEALINGS WITH
COMPANY.  The Trustee, in its
individual or any other capacity, may make loans to, accept deposits from, and
perform services for the Company or its Affiliates, and may otherwise deal with
the Company or its Affiliates, as if it were not the Trustee.

 A-4
 

14.           NO RECOURSE AGAINST OTHERS.  A director, officer, employee, incorporator
or stockholder, of the Company, as such, will not have any liability for any
obligations of the Company under the Notes or the Indenture or for any claim
based on, in respect of, or by reason of, such obligations or their
creation.  Each Holder of Notes by accepting
a Note waives and releases all such liability. 
The waiver and release are part of the consideration for the issuance of
the Notes.

15.           AUTHENTICATION.  This Note will not be valid until
authenticated by the manual signature of the Trustee or an authenticating
agent.

16.           ABBREVIATIONS.  Customary abbreviations may be used in the
name of a Holder 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 Gifts to Minors Act).

17.           CUSIP NUMBERS.  Pursuant to a recommendation promulgated by
the Committee on Uniform Security Identification Procedures, the Company has
caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP
numbers in notices of redemption as a convenience to Holders.  No representation is made as to the accuracy
of such numbers either as printed on the Notes or as contained in any notice of
redemption and reliance may be placed only on the other identification numbers
placed thereon.  The Company will furnish
to any Holder upon written request and without charge a copy of the Base
Indenture and the Supplemental Indenture. 
Requests may be made to:

	
  

  	
  National Semiconductor Corporation

  
	
   

  	
  3689 Kifer Road

  
	
   

  	
  P.O. Box 58090

  
	
   

  	
  Mail Stop G3-135

  
	
   

  	
  Santa Clara, California 95052-8090

  
	
   

  	
  Fascimile No.: (408) 733-0293

  
	
   

  	
  Attention: General Counsel

  

 

 A-5
 

ASSIGNMENT FORM

To assign this Note, fill in the form below:

	
  (I)
  or (we) assign and transfer this Note to

  	
   

  
	
   

  	
  (Insert
  assignee’s legal name)

  

 

	
  

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

  

 

	
   

  
	
   

  
	
   

  
	
   

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

  

 

	
  and irrevocably appoint

  	
   

  

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

	
  Date:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Your Signature:

  	
   

  
	
   

  	
   

  	
   

  	
  (sign exactly as your name appears

  
	
   

  	
   

  	
   

  	
  on the face of this senior note)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Tax Identification No:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Signature Guarantee:

  	
   

  
									

 

Signatures must be guaranteed by an “eligible
guarantor institution” meeting the requirements of the Registrar, which
requirements include membership or participation in the Security Transfer Agent
Medallion Program (“STAMP”) or such other “signature
guarantee program” as may be determined by the Registrar in addition to, or in
substitution for, STAMP, all in accordance with the Securities Exchange Act of
1934, as amended.

 A-6

Option of Holder to Elect
Purchase

If you want to elect to have this Note purchased by
the Company pursuant to Section 4.02 of the Supplemental Indenture, check the
box below:

o        Section 4.02

If you want to elect to have only part of the Note
purchased by the Company pursuant to Section 4.02 of the Supplemental
Indenture, state the amount you elect to have purchased:  $

	
  Date:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Your Signature:

  	
   

  
	
   

  	
   

  	
   

  	
  (sign exactly as your name appears

  
	
   

  	
   

  	
   

  	
  on the face of this senior note)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Tax Identification No:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Signature Guarantee:

  	
   

  
									

 

Signatures must be guaranteed by an “eligible
guarantor institution” meeting the requirements of the Registrar, which
requirements include membership or participation in the Security Transfer Agent
Medallion Program (“STAMP”) or such other “signature
guarantee program” as may be determined by the Registrar in addition to, or in
substitution for, STAMP, all in accordance with the Securities Exchange Act of
1934, as amended.

 C-1Exhibit
4.4

NATIONAL
SEMICONDUCTOR CORPORATION

 

$375,000,000

6.600%
SENIOR NOTES DUE 2017

SUPPLEMENTAL
INDENTURE

Dated
as of June 18, 2007

To

INDENTURE

Dated
as of June 18, 2007

THE
BANK OF NEW YORK TRUST COMPANY, N.A.

Trustee

TABLE OF CONTENTS

	
  

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Article
  1.

  	
   

  	
   

  
	
  DEFINITIONS AND
  INCORPORATION

  	
   

  	
   

  
	
  BY REFERENCE

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 1.01

  	
   

  	
  Relationship with Base Indenture.

  	
   

  	
  1

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 1.02

  	
   

  	
  Definitions.

  	
   

  	
  2

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 1.03

  	
   

  	
  Other Definitions.

  	
   

  	
  5

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Article
  2.

  	
   

  	
   

  
	
  THE NOTES

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 2.01

  	
   

  	
  Form and Dating.

  	
   

  	
  5

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 2.02

  	
   

  	
  Transfer and Exchange.

  	
   

  	
  6

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 2.03

  	
   

  	
  Issuance of Additional Notes.

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Article
  3.

  	
   

  	
   

  
	
  REDEMPTION AND
  PREPAYMENT

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 3.01

  	
   

  	
  Notice of Redemption.

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 3.02

  	
   

  	
  Notes Redeemed in Part.

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 3.03

  	
   

  	
  Optional Redemption.

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 3.04

  	
   

  	
  Mandatory Redemption.

  	
   

  	
  11

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Article
  4.

  	
   

  	
   

  
	
  PARTICULAR
  COVENANTS

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 4.01

  	
   

  	
  Liens.

  	
   

  	
  11

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 4.02

  	
   

  	
  Offer to Purchase Upon Change of Control Triggering
  Event.

  	
   

  	
  12

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 4.03

  	
   

  	
  Sale and Lease-Back Transactions.

  	
   

  	
  13

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Article
  5.

  	
   

  	
   

  
	
  SUCCESSORS

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 5.01

  	
   

  	
  Merger, Consolidation or Sale of Assets.

  	
   

  	
  14

  

 

 i
 

 

	
  Article 6.

  	
   

  	
   

  
	
  DEFAULTS AND
  REMEDIES

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 6.01

  	
   

  	
  Events of Default.

  	
   

  	
  14

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Article
  7.

  	
   

  	
   

  
	
  MISCELLANEOUS

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 7.01

  	
   

  	
  Trust Indenture Act Controls.

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 7.02

  	
   

  	
  Governing Law.

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 7.03

  	
   

  	
  Successors.

  	
   

  	
  16

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 7.04

  	
   

  	
  Severability.

  	
   

  	
  16

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 7.05

  	
   

  	
  Counterpart Originals.

  	
   

  	
  16

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 7.06

  	
   

  	
  Table of Contents, Headings, Etc.

  	
   

  	
  16

  

 

 

	
  EXHIBITS

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Exhibit A       FORM
  OF NOTE

  	
   

  	
   

  

 

 ii

SUPPLEMENTAL INDENTURE dated as of June 18, 2007 by
and among National Semiconductor Corporation, a Delaware corporation (the “Company”), and The Bank of New York
Trust Company, N.A., a national banking association, as trustee (the “Trustee”).

The Company has heretofore executed and delivered to
the Trustee an indenture, dated as of June 18, 2007 (the “Base Indenture”, and together with
this Supplemental Indenture, the “Indenture”),
providing for the issuance from time to time of one or more series of the Company’s
securities.

The Company desires and has requested the Trustee
pursuant to Section 9.01 of the Base Indenture to join with it in the execution
and delivery of this Supplemental Indenture in order to supplement the Base
Indenture as, and to the extent set forth herein to provide for the issuance
and the terms of the Notes (as defined below).

Section 9.01 of the Base Indenture provides that the
Company and the Trustee, without the consent of any holders of the Company’s
Securities, may amend or waive certain terms and conditions in the Base
Indenture as permitted by Sections 2.01 and 2.02 thereof.

The execution and delivery of this Supplemental
Indenture has been duly authorized by a resolution of the Board of Directors of
the Company or a duly authorized committee thereof.

All conditions and requirements necessary to make this
Supplemental Indenture a valid, binding and legal instrument in accordance with
its terms have been performed and fulfilled by the parties hereto and the
execution and delivery thereof have been in all respects duly authorized by the
parties hereto.

The Company and the Trustee agree as follows for the
benefit of each other and for the equal and ratable benefit of the Holders (as
defined herein) of the 6.600% Senior Notes due 2017 (the “Notes”):

Article
1.

DEFINITIONS AND INCORPORATION

BY REFERENCE

Section 1.01                           Relationship
with Base Indenture.

The terms and provisions contained in the Base
Indenture will constitute, and are hereby expressly made, a part of this
Supplemental Indenture and the Company and the Trustee, by their execution and
delivery of this Supplemental Indenture, expressly agree to such terms and
provisions and to be bound thereby. 
However, to the extent any provision of the Base Indenture conflicts
with the express provisions of this Supplemental Indenture, the provisions of
this Supplemental Indenture will govern and be controlling.

The Trustee accepts the amendment of the Base
Indenture effected by this Supplemental Indenture and agrees to execute the
trust created by the Base Indenture as hereby amended, but only upon the terms
and conditions set forth in this Supplemental Indenture, including the terms
and provisions defining and limiting the liabilities and responsibilities of
the Trustee in the performance of the trust created by the Base Indenture, and
without limiting the generality of the foregoing, the Trustee will not be
responsible in any manner whatsoever for or with respect to any of the recitals
or statements contained herein, all of which recitals or statements are made
solely by the Company, or for or with respect to (1) the validity or
sufficiency of this Supplemental Indenture or any of the terms or provisions
hereof, (2) the proper authorization hereof by the Company, (3) the due
execution hereof by the Company or (4) the consequences (direct or indirect and
whether deliberate or inadvertent) of any amendment herein provided for, and
the Trustee makes no representation with respect to any such matters.

 1
 

Section 1.02                           Definitions.  Capitalized terms used herein without
definition shall have the respective meanings set forth in the Base
Indenture.  The following terms have the
meanings given to them in this Section 1.02:

“Additional Notes”
means any Notes (other than the Initial Notes) issued under this Supplemental
Indenture in accordance with Sections 2.03 hereof, as part of the same series
as the Initial Notes.

“Attributable Debt”
with regard to a Sale and Lease-Back Transaction with respect to any Principal
Property means, at the time of determination, the present value of the total
net amount of rent required to be paid under such lease during the remaining
term thereof (including any period for which such lease has been extended),
discounted at the rate of interest set forth or implicit in the terms of such
lease (or, if not practicable to determine such rate, the weighted average
interest rate per annum borne by the securities then outstanding under the Base
Indenture) compounded semi-annually.  In
the case of any lease which is terminable by the lessee upon the payment of a
penalty, such net amount shall be the lesser of (i) the net amount determined
assuming termination upon the first date such lease may be terminated (in which
case the net amount shall also include the amount of the penalty, but shall not
include any rent that would be required to be paid under such lease subsequent
to the first date upon which it may be so terminated) or (ii) the net amount
determined assuming no such termination.

“Base Indenture”
means has the meaning set forth in the preamble to this Supplemental Indenture,
as amended, supplemented or otherwise modified from time to time in accordance
with the terms thereof.

“Below Investment Grade
Rating Event” means the Notes are rated below an Investment Grade
Rating by each of the Rating Agencies on any date from the date of the public
notice of an arrangement that could result in a Change of Control until the end
of the 60-day period following public notice of the occurrence of the Change of
Control (which 60-day period shall be extended so long as the rating of the
Notes is under publicly announced consideration for possible downgrade by any
of the Rating Agencies).

“Capital Stock”
means:

(1)           with respect to any Person that is a
corporation, any and all shares, interests, participations or other equivalents
(however designated and whether voting or not voting) of corporate stock,
including each class of Common Stock and Preferred Stock of such Person; and

(2)           with respect to any Person that is not a
corporation, any and all partnership, membership or other equity interests of
such Person.

“Change of Control”
means the occurrence of one or more of the following events:

(1)           any sale, lease, exchange or other
transfer (in one transaction or a series of related transactions) of all or
substantially all of the assets of the Company to any Person or group of
related Persons for purposes of Section 13(d) of the Exchange Act (a “Group”), together with any Affiliates thereof (whether or
not otherwise in compliance with the provisions of this Supplemental
Indenture);

(2)           the approval by the holders of the
Capital Stock of the Company of any plan or proposal for the liquidation or
dissolution of the Company (whether or not otherwise in compliance with the
provisions of this Supplemental Indenture);

 2
 

(3)           any Person or Group shall become the
owner, directly or indirectly, beneficially or of record, of shares
representing more than 50% of the aggregate ordinary voting power represented
by the issued and outstanding Capital Stock of the Company; or

(4)           the replacement of a majority of the
Board of Directors of the Company over a two-year period from the directors who
constituted the Board of Directors of the Company at the beginning of such
period, and such replacement shall not have been approved by a vote of at least
a majority of the Board of Directors of the Company then still in office who
either were members of such Board of Directors at the beginning of such period
or whose election as a member of such Board of Directors was previously so approved.

“Change of Control
Triggering Event” means the occurrence of both a Change of Control
and a Below Investment Grade Rating Event.

“Common Stock”
of any Person means any and all shares, interests or other participations in,
and other equivalents (however designated and whether voting or non-voting) of,
such Person’s common stock, and includes, without limitation, all series and
classes of such Common Stock.

“Consolidated Net Tangible
Assets” means, as of any date on which the Company effects a transaction
requiring such Consolidated Net Tangible Assets to be measured hereunder, the
aggregate amount of assets (less applicable reserves) after deducting
therefrom: (a) all current liabilities, except for current maturities of
long-term debt and obligations under capital leases; and (b) intangible assets,
to the extent included in said aggregate amount of assets, all as set forth in
the Company’s most recent consolidated balance sheet and computed in accordance
with GAAP applied on a consistent basis.

“Definitive Note”
means a certificated Note registered in the name of the Holder thereof and
issued in accordance with Section 2.02 hereof, substantially in the form of
Exhibit A hereto except that such Note will not bear the Global Note Legend.

“Depositary” means,
with respect to the Notes issuable or issued in whole or in part in global
form, the Person specified in Section 2.01 hereof as the Depositary, with
respect to the Notes, and any and all successors thereto appointed as
depositary hereunder and having become such pursuant to the applicable
provision of this Supplemental Indenture.

“Global Note Legend”
means the legend set forth in Section 2.02(f), which is required to be placed
on all Global Notes issued under this Supplemental Indenture.

“Global Notes” means,
individually and collectively, each of the Global Notes, in the form of Exhibit
A hereto issued in accordance with Section 2.01 hereof.

“Holder” means a
Person in whose name a Note is registered.

“Indenture”
means the Base Indenture, as supplemented by this Supplemental Indenture,
governing the Notes, in each case, as amended, supplemented or restated from
time to time.

“Indirect Participant”
means a Person who holds a beneficial interest in a Global Note through a
Participant.

“Initial Notes”
means the first $375,000,000 aggregate principal amount of Notes issued under
this Supplemental Indenture on the date hereof.

 3
 

“Investment Grade Rating”
means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and
BBB- (or the equivalent) by S&P.

“Lien” means,
with respect to any asset, any mortgage, lien, pledge, charge, security
interest or encumbrance of any kind in respect of such asset, whether or not
filed, recorded or otherwise perfected under applicable law, including any
conditional sale or other title retention agreement or any lease in the nature
thereof; provided that in no event will an
operating lease be deemed to constitute a Lien.

“Moody’s” means
Moody’s Investors Service, Inc.

“Notes” has the
meaning assigned to it in the preamble to this Supplemental Indenture.  The Initial Notes and the Additional Notes
will be treated as a single class for all purposes under this Supplemental
Indenture, and unless the context otherwise requires, all references to the
Notes will include the Initial Notes and any Additional Notes.

“Participant”
means, with respect to the Depositary, a Person who has an account with the
Depositary.

“Preferred Stock”
of any Person means any Capital Stock of such Person that has preferential
rights to any other Capital Stock of such Person with respect to dividends or
redemptions or upon liquidation.

“Principal Property”
means the land, improvements, buildings, fixtures and equipment (including any
leasehold interest therein) constituting the principal corporate office, any
manufacturing, assembly or test plant, or any manufacturing, assembly, test,
distribution or research facility (in each case, whether now owned or hereafter
acquired) which is owned or leased by the Company or any Subsidiary and is
located within the United States of America, the United Kingdom, Malaysia and
China unless the Company’s chief executive officer or chief financial officer
has determined in good faith that such office, plant or facility is not of
material importance to the total business conducted by the Company and its
Subsidiaries taken as a whole.  With
respect to any Sale and Lease-Back Transaction or series of related Sale and
Lease-Back Transactions, the determination of whether any property is a
Principal Property shall be determined by reference to all properties affected
by such transaction or series of transactions.

“Rating Agencies”
means (1) each of Moody’s and S&P; and (2) of either Moody’s or S&P
ceases to rate the Notes or fails to make a rating of the Notes publicly
available for reasons outside of the Company’s control, a “nationally
recognized statistical rating organization” within the meaning of Rule
15c3-1(e)(2)(vi)(F) under the Exchange Act, selected by the Company (as
certified by a resolution of its Board of Directors) as a replacement agency
for Moody’s or S&P, or both, as the case may be.

“S&P” means
Standard & Poor’s Ratings Services, a division of The McGraw-Hill
Companies, Inc.

“Sale and Lease-Back
Transaction” means any arrangement with any Person providing for the
leasing by the Company or any Subsidiary of any Principal Property, whether now
owned or hereafter acquired, which Principal Property has been or is to be sold
or transferred by the Company or such Subsidiary to such Person.

“Subsidiary”
means any corporation, limited liability company or other similar type of
entity in which the Company and/or one or more of its subsidiaries together own
voting stock, membership interests or other capital securities having the power
to elect a majority of the Board of Directors or similar governing body of such
corporation, limited liability company or other similar type of entity,

 4
 

directly or
indirectly.  For the purposes of this
definition, “voting stock” means stock or
other capital securities which ordinarily have voting power for the election of
directors or similar governing body, whether at all times or only so long as no
senior class of stock or other capital securities have such voting power by
reason of any contingency.

“Supplemental Indenture”
means this Supplemental Indenture, dated as of the date hereof, by and among
the Company and the Trustee, governing the Notes, as amended, supplemented or
otherwise modified from time to time in accordance with the Base Indenture and
the terms hereof.

“Treasury Rate”
means, with respect to a date of redemption, the yield to maturity at the time
of the computation of United States Treasury securities with a constant
maturity (as compiled and published in the most recent Federal Reserve
Statistical Release H.15(519) that has become publicly available on the third
Business Day prior to the Company’s providing notice of redemption (or, if such
Statistical Release is no longer published, any publicly available source of
similar market data)) most nearly equal to the period from such date of
redemption to the Stated Maturity of the Notes; provided,
however, that if the period from such
date of redemption to the Stated Maturity is not equal to the constant maturity
of the United States Treasury security for which a weekly average yield is
given, the Treasury Rate shall be obtained by linear interpolation (calculated
to the nearest one-twelfth of a year) from the weekly average yields of United
States Treasury securities for which such yields are given, except that if the
period from such date of redemption to the Stated Maturity is less than one
year, the weekly average yield on actually traded United States Treasury
securities adjusted to a constant maturity of one year shall be used.

Section 1.03                           Other Definitions.

	
  Term

  	
   

  	
  Defined in

  Section

  	
   

  
	
  “Change of Control Date”

  	
   

  	
  4.02

  	
   

  
	
  “Change of Control Offer”

  	
   

  	
  4.02

  	
   

  
	
  “Change of Control Payment
  Date”

  	
   

  	
  4.02

  	
   

  
	
  “Change of Control Purchase
  Date”

  	
   

  	
  4.02

  	
   

  
	
  “Change of Control Purchase
  Price”

  	
   

  	
  4.02

  	
   

  
	
  “DTC”

  	
   

  	
  2.01

  	
   

  
	
  “Event of Default”

  	
   

  	
  6.01

  	
   

  
	
  “Mortgage”

  	
   

  	
  4.01

  	
   

  
	
  “Redemption Date”

  	
   

  	
  3.03

  	
   

  

 

Article
2.

THE NOTES

Section 2.01                           Form and Dating.

(a)           General.  The Notes and the Trustee’s certificate of
authentication will be substantially in the form of Exhibit A
hereto.  The Notes may have notations,
legends or endorsements required by law, stock exchange rule or usage.  Each Note will be dated the date of its
authentication.  The Notes will be in
denominations of $2,000 with integral multiples of $1,000 thereof.

The terms and provisions contained in the Notes will
constitute, and are hereby expressly made, a part of this Supplemental
Indenture and the Company and the Trustee, by their execution and delivery of
this Supplemental Indenture, expressly agree to such terms and provisions and to
be bound thereby.

 5
 

However, to the extent any provision of any Note
conflicts with the express provisions of the Indenture, the provisions of the
Indenture will govern and be controlling.

(b)           Global
Notes.  Notes issued in global
form will be substantially in the form of Exhibit A attached hereto
(including the Global Note Legend thereon). 
Notes issued in definitive form will be substantially in the form of Exhibit
A attached hereto (but without the Global Note Legend thereon).  Each Global Note will represent such of the
outstanding Notes as will be specified therein and each will provide that it
will represent the aggregate principal amount of outstanding Notes from time to
time endorsed thereon and that the aggregate principal amount of outstanding
Notes represented thereby may from time to time be reduced or increased, as
appropriate, to reflect exchanges and redemptions.  Any endorsement of a Global Note to reflect
the amount of any increase or decrease in the aggregate principal amount of
outstanding Notes represented thereby will be made by the Trustee or the
Custodian, at the direction of the Trustee, in accordance with instructions
given by the Holder thereof as  required
by Section 2.02 hereof.  The Company
initially appoints The Depositary Trust Company (“DTC”) to act as Depositary with respect to the Global
Notes.

Section 2.02                           Transfer and Exchange.

(a)           Transfer and
Exchange of Global Notes.  A
Global Note may not be transferred as a whole except by the Depositary to a
nominee of the Depositary, by a nominee of the Depositary to the Depositary or
to another nominee of the Depositary, or by the Depositary or any such nominee
to a successor Depositary or a nominee of such successor Depositary.  All Global Notes will be exchanged by the
Company for Definitive Notes if:

(1)           the
Company delivers to the Trustee notice from the Depositary that it is unwilling
or unable to continue to act as Depositary or that it is no longer a clearing
agency registered under the Exchange Act and, in either case, a successor
Depositary is not appointed by the Company within 90 days after the date of
such notice from the Depositary; or

(2)           the
Company in its sole discretion determines that the Global Notes (in whole but
not in part) should be exchanged for Definitive Notes and delivers a written
notice to such effect to the Trustee.

Upon the occurrence of either of the preceding events
in (1) or (2) above, Definitive Notes will be issued in such names and in any
approved denominations as the Depositary will instruct the Trustee.  Global Notes also may be exchanged or
replaced, in whole or in part, as provided in Sections 2.08 and 2.11 of the
Base Indenture.  Every Note authenticated
and delivered in exchange for, or in lieu of, a Global Note or any portion
thereof, pursuant to this Section 2.02 or Sections 2.08 or 2.11 of the Base
Indenture, will be authenticated and delivered in the form of, and will be, a
Global Note.  A Global Note may not be
exchanged for another Note other than as provided in this Section 2.02(a),
however, beneficial interests in a Global Note may be transferred and exchanged
as provided in Sections 2.02(b), (c) or (g) hereof.

(b)           Transfer and
Exchange of Beneficial Interests in the Global Notes.  The transfer and exchange of beneficial
interests in the Global Notes will be effected through the Depositary, in
accordance with the provisions of this Supplemental Indenture and the
Applicable Procedures.  Transfers of
beneficial interests in the Global Notes also will require compliance with
either subparagraph (1) or (2) below, as applicable, as well as one or more of
the other following subparagraphs, as applicable:

(1)           Transfer of Beneficial Interests in the Same Global Note.  Beneficial interests in any Global Note may
be transferred to Persons who take delivery thereof in the form of a

 6
 

beneficial interest in a Global Note. 
No written orders or instructions will be required to be delivered to
the Registrar to effect the transfers described in this Section 2.02(b)(1).

(2)           All Other Transfers and Exchanges of Beneficial Interests in Global
Notes.  In connection with all
transfers and exchanges of beneficial interests that are not subject to Section
2.02(b)(1) above, the transferor of such beneficial interest must deliver to
the Registrar either:

(A)          (i)  a written
order from a Participant or an Indirect Participant given to the Depositary in
accordance with the Applicable Procedures directing the Depositary to credit or
cause to be credited a beneficial interest in another Global Note in an amount
equal to the beneficial interest to be transferred or exchanged; and

(ii)  instructions given in accordance with the
Applicable Procedures containing information regarding the Participant account
to be credited with such increase.

Upon satisfaction of all of the requirements for
transfer or exchange of beneficial interests in Global Notes contained in this
Supplemental Indenture and the Notes or otherwise applicable under the
Securities Act, the Trustee will adjust the principal amount of the relevant
Global Note(s) pursuant to Section 2.02(g) hereof.

(c)           Transfer or
Exchange of Beneficial Interests for Definitive Notes.

If any holder of a beneficial interest in a Global
Note proposes to exchange such beneficial interest for a Definitive Note or to
transfer such beneficial interest to a Person who takes delivery thereof in the
form of a Definitive Note, then, upon satisfaction of the conditions set forth
in Section 2.02(b)(2) hereof, the Trustee will cause the aggregate principal
amount of the applicable Global Note to be reduced accordingly pursuant to
Section 2.02(g) hereof, and the Company will execute and the Trustee will
authenticate and deliver to the Person designated in the instructions a
Definitive Note in the appropriate principal amount. Any Definitive Note issued
in exchange for a beneficial interest pursuant to this Section 2.02(c) will be
registered in such name or names and in such authorized denomination or
denominations as the holder of such beneficial interest requests through
instructions to the Registrar from or through the Depositary and the
Participant or Indirect Participant.  The
Trustee will deliver such Definitive Notes to the Persons in whose names such
Notes are so registered.

(d)           Transfer and
Exchange of Definitive Notes for Beneficial Interests.

A Holder of a Definitive Note may exchange such Note
for a beneficial interest in a Global Note or transfer such Definitive Notes to
a Person who takes delivery thereof in the form of a beneficial interest in a
Global Note at any time.  Upon receipt of
a request for such an exchange or transfer, the Trustee will cancel the
applicable Definitive Note and increase or cause to be increased the aggregate
principal amount of one of the Global Notes.

If any such exchange or transfer from a Definitive
Note to a beneficial interest is effected pursuant to the previous paragraph at
a time when a Global Note has not yet been issued, the Company will issue and,
upon receipt of the Company’s order, the Trustee will authenticate one or more
Global Notes in an aggregate principal amount equal to the principal amount of
Definitive Notes so transferred.

A Holder of Definitive Notes may transfer such Notes
to a Person who takes delivery thereof in the form of a Definitive Note.

 7
 

(e)           Transfer and
Exchange of Definitive Notes for Definitive Notes.  Upon request by a Holder of Definitive Notes
and such Holder’s compliance with the provisions of this Section 2.02(e), the
Registrar will register the transfer or exchange of Definitive Notes.  Prior to such registration of transfer or
exchange, the requesting Holder will present or surrender to the Registrar the
Definitive Notes duly endorsed or accompanied by a written instruction of
transfer in form satisfactory to the Registrar duly executed by such Holder or
by his attorney, duly authorized in writing. 
In addition, the requesting Holder will provide any additional
certifications, documents and information, as applicable, required pursuant to
the following provisions of this Section 2.02(e).

(f)            Legends.  The following legends will appear on the face
of all Global Notes issued under this Supplemental Indenture unless
specifically stated otherwise in the applicable provisions of this Supplemental
Indenture.

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS  DEFINED IN THE SUPPLEMENTAL INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE  BENEFICIAL OWNERS HEREOF, AND IS NOT
TRANSFERABLE TO ANY  PERSON UNDER ANY
CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY
BE  REQUIRED PURSUANT TO SECTION 2.02 OF
THE SUPPLEMENTAL INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED  IN WHOLE BUT NOT IN PART PURSUANT TO SECTION
2.02(a) OF THE SUPPLEMENTAL INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED
TO THE TRUSTEE FOR  CANCELLATION PURSUANT
TO SECTION 2.12 OF THE BASE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE
TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE
COMPANY.

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART
FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A
WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE
DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH
SUCCESSOR DEPOSITARY.  UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”)
TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT,
AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH
OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.”

(g)           Cancellation
and/or Adjustment of Global Notes. 
At such time as all beneficial interests in a particular Global Note
have been exchanged for Definitive Notes or a particular Global Note has been
redeemed, repurchased or canceled in whole and not in part, each such Global
Note will be returned to or retained and canceled by the Trustee in accordance
with Section 2.12 of the Base Indenture. 
At any time prior to such cancellation, if any beneficial interest in a
Global Note is exchanged for or transferred

 8
 

to a Person who will take delivery thereof in
the form of a beneficial interest in another Global Note or for Definitive
Notes, the principal amount of Notes represented by such Global Note will be
reduced accordingly and an endorsement will be made on such Global Note by the
Trustee or by the Depositary at the direction of the Trustee to reflect such
reduction; and if the beneficial interest is being exchanged for or transferred
to a Person who will take delivery thereof in the form of a beneficial interest
in another Global Note, such other Global Note will be increased accordingly
and an endorsement will be made on such Global Note by the Trustee or by the
Depositary at the direction of the Trustee to reflect such increase.

(h)           General
Provisions Relating to Transfers and Exchanges.

(1)           To
permit registrations of transfers and exchanges, the Company will execute and
the Trustee will authenticate Global Notes and Definitive Notes upon the
Company’s order or at the Registrar’s request.

(2)           No
service charge will be made to a holder of a beneficial interest in a Global
Note or to a Holder of a Definitive Note for any registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
transfer tax or similar governmental charge payable in connection therewith
(other than any such transfer taxes or similar governmental charge payable upon
exchange or transfer pursuant to Section 4.02 hereof and Sections 2.11, 3.06
and 9.05 of the Base Indenture).

(3)           The
Registrar will not be required to register the transfer of or exchange any Note
selected for redemption in whole or in part, except the unredeemed portion of
any Note being redeemed in part.

(4)           All
Global Notes and Definitive Notes issued upon any registration of transfer or
exchange of Global Notes or Definitive Notes will be the valid obligations of
the Company, evidencing the same debt, and entitled to the same benefits under
this Supplemental Indenture, as the Global Notes or Definitive Notes
surrendered upon such registration of transfer or exchange.

(5)           The
Company will not be required:

(A)  to issue, to register the transfer of or to
exchange any Notes during a period of 15 days before the day of any selection
of Notes for redemption under Section 3.02 of the Base Indenture and ending at
the close of business on the day of selection;

(B)  to register the transfer of or to exchange
any Note so selected for redemption in whole or in part, except the unredeemed
portion of any Note being redeemed in part; or

(C)  to register the transfer of or to exchange a
Note between a record date and the next succeeding interest payment date.

(6)           Prior
to due presentment for the registration of a transfer of any Note, the Trustee,
any Agent and the Company may deem and treat the Person in whose name any Note
is registered as the absolute owner of such Note for the purpose of receiving
payment of principal of and interest on such Notes and for all other purposes,
and none of the Trustee, any Agent or the Company will be affected by notice to
the contrary.

 9
 

(7)           The
Trustee will authenticate Global Notes and Definitive Notes in accordance with
the provisions of Section 2.03 of the Base Indenture.

(8)           All
certifications, certificates and Opinions of Counsel required to be submitted
to the Registrar pursuant to this Section 2.02 to effect a registration of
transfer or exchange may be submitted by facsimile.

(9)           The
Trustee shall have no obligation or duty to monitor, determine or inquire as to
compliance with any restrictions on transfer imposed under this Supplemental
Indenture or under applicable law with respect to any transfer of any interest
in any Note other than to require delivery of such certificates and other
documentation or evidence as are expressly required by, and to do so if and
when expressly required by the terms of, this Supplemental Indenture, and to examine
the same to determine substantial compliance as to form with the express
requirements hereof.

(10)         Neither
the Trustee nor any Agent shall have any responsibility for any actions taken
or not taken by the Depositary.

Section 2.03                           Issuance of Additional Notes.

The Company will be entitled, upon delivery of an
Officer’s Certificate and an Opinion of Counsel, to issue Additional Notes
under this Supplemental Indenture which will have identical terms as the
Initial Notes issued on the date hereof, other than with respect to the date of
issuance and issue price.  The Initial
Notes issued on the date hereof and any Additional Notes issued will be treated
as a single class for all purposes under this Supplemental Indenture.

With respect to any Additional Notes, the Company will
set forth in a resolution of its Board of Directors and an Officer’s
Certificate, a copy of each which will be delivered to the Trustee, the
following information:

(a)           the aggregate principal
amount of such Additional Notes to be authenticated and delivered pursuant to
this Supplemental Indenture; and

(b)           the issue price, the
issue date and the CUSIP number of such Additional Notes.

Article
3.

REDEMPTION AND PREPAYMENT

Section 3.01                           Notice of Redemption.

The Company will deliver to the Trustee, at least 45
days prior to the redemption date (or such shorter period as the Trustee in its
sole discretion may allow), an Officer’s Certificate requesting that the
Trustee give such notice and setting forth the information to be stated in such
notice as provided in Section 3.01 of the Base Indenture.

Section 3.02                           Notes Redeemed in Part.

No Notes of $2,000 or less can be redeemed in part.

 10
 

Section 3.03                           Optional Redemption.

At any time prior to June 15, 2017, the Company may,
on any one or more occasions, redeem, in whole or in part, at a redemption
price equal to the greater of the following amounts, plus, in each case,
accrued and unpaid interest, if any, on the principal amount of the Notes being
redeemed to the date of redemption or purchase (“Redemption
Date”) (subject to the right of the holders of record on the
relevant record date to receive interest due on the relevant interest payment
date):

(i)            100% of the aggregate principal amount of
the Notes to be redeemed; or

(ii)           the sum of the present value at such
Redemption Date of (1) the principal amount of the Notes on the Redemption Date
plus (2) all required remaining scheduled interest payments due on such Notes
(but not including any portion of such payments of interest accrued to the
Redemption Date) through the Stated Maturity computed using a discount rate
equal to the Treasury Rate plus 20 basis points.

Calculation of the foregoing shall be made by the
Company or on the Company’s behalf by such Person as the Company shall
designate; provided, however,
that such calculation shall not be a duty or obligation of the Trustee.

On and after the Redemption Date, interest will cease
to accrue on the Notes or portions thereof called for redemption as long as the
Company has deposited with the Paying Agent funds in satisfaction of the
applicable redemption price.

Section 3.04                           Mandatory Redemption.

The Company is not required to make any mandatory
redemption or sinking fund payments with respect to the Notes.

Article
4.

PARTICULAR COVENANTS

Section 4.01                           Liens.

The Company will not, and will not permit any of its
Subsidiaries to, issue, incur, create, assume or guarantee any debt for
borrowed money (including all obligations evidenced by bonds, debentures, notes
or similar instruments) secured by a mortgage, deed of trust, security
interest, pledge, lien, charge or other encumbrance (collectively, a “Mortgage”) upon any Principal
Property or upon any shares of stock or indebtedness of any Subsidiary that
owns or leases any Principal Property (whether such Principal Property, shares
or indebtedness are now existing or owed or hereafter created or acquired)
without in any such case effectively providing, concurrently with the issuance,
incurrence, creation, assumption or guaranty of any such secured debt, or the
grant of such Mortgage, that the Notes (together with, if the Company shall so
determine, any other indebtedness of or guarantee by the Company or such
Subsidiary ranking equally with the Notes) shall be secured equally and ratably
with (or, at the Company’s option, prior to) such secured debt.  The foregoing restriction, however will not
apply to each of the following: (a) Mortgages on property, shares of stock or
indebtedness or other assets of any Person existing at the time such Person
becomes a Subsidiary, provided that such Mortgages are not incurred in
anticipation of such Person’s becoming a Subsidiary; (b)  Mortgages on property, shares of stock or
indebtedness or other assets existing at the time of acquisition thereof by us
or a Subsidiary, or Mortgages thereon to

 11
 

secure the payment of all or any part of the purchase
price thereof, or Mortgages on property, shares of stock or indebtedness or
other assets to secure any debt incurred prior to, at the time of, or within
180 days after, the latest of the acquisition thereof or, in the case of
property, the completion of construction, the completion of improvements or the
commencement of substantial commercial operation of such property for the
purpose of financing all or any part of the purchase price thereof, such
construction or the making of such improvements; (c) Mortgages in favor of the
Company or a Subsidiary to secure indebtedness owing to the Company or to a
Subsidiary; (d) Mortgages existing at the date of the initial issuance of the
Notes; (e) Mortgages on property of a Person existing at the time such Person
is merged into or consolidated with the Company or a Subsidiary or at the time
of a sale, lease or other disposition of properties of such Person as an
entirety or substantially as an entirety to the Company or a Subsidiary, provided that such Mortgage was not incurred in anticipation
of such merger or consolidation or sale, lease or other disposition; (f)
Mortgages in favor of the United States of America or any state, territory or possession
thereof (or the District of Columbia), to secure partial, progress, advance or
other payments pursuant to any contract or statute or to secure any
indebtedness incurred for the purpose of financing all or any part of the
purchase price or the cost of constructing or improving the property subject to
such Mortgages; or (g) extensions, renewals or replacements of any Mortgage
referred to in the foregoing clauses (a), (b), (d), (e) or (f); provided, however, that
(i) the principal amount of indebtedness secured thereby shall not exceed the
principal amount of indebtedness so secured at the time of such extension,
renewal or replacement and (ii) such extension, renewal or replacement
Mortgages will be limited to all or part of the same property and improvement
thereon which secured the indebtedness so secured at the time of such
extension, renewal or replacement.  Any
Mortgages permitted by any of the foregoing clauses (a) through (g) shall not
extend to or cover any other Principal Property, or any share of stock or
indebtedness of any Subsidiary that owns or leases any Principal Property,
subject to the foregoing limitations, other than the property, including
improvements thereto, stock or indebtedness specified in such clauses.

Notwithstanding the restrictions set forth in the
preceding paragraph, the Company or any Subsidiary may issue, incur, create,
assume or guarantee debt secured by a Mortgage which would otherwise be subject
to such restrictions, without equally and ratably securing the Notes, provided that after giving effect thereto, the aggregate
amount of all debt so secured by Mortgages (not including Mortgages permitted
under clauses (a) through (g) above) plus the aggregate amount of Attributable
Debt permitted pursuant to Section 4.03 hereof does not exceed 15% of the
Company’s Consolidated Net Tangible Assets.

Section 4.02                           Offer to Purchase Upon Change of Control Triggering
Event.

(a)           Upon the occurrence of
a Change of Control Triggering Event (the date of such occurrence, the “Change of Control Date”),
each Holder shall have the right to require the Company to purchase such Holder’s
Notes in whole or in part at a purchase price (the “Change of Control Purchase Price”) equal to 101% of the
principal amount of such Notes, plus accrued and unpaid interest, if any, to
the date of purchase (the “Change of
Control Purchase Date”), pursuant to and in accordance with the
offer described in this Section 4.02 (the “Change of Control Offer”).

(b)           Within 30 days
following the Change of Control Date the Company shall send, by first class
mail, a notice to each Holder, with a copy to the Trustee, which notice shall
govern the terms of the Change of Control Offer.  Such notice shall state:

(i)            that the Change of Control Offer is being
made pursuant to this Section 4.02 and that all Notes validly tendered will be
accepted for payment;

 12
 

(ii)           the Change of Control Purchase Price and the
Change of Control Purchase Date, which shall be a Business Day that is no
earlier than 30 days nor later than 60 days from the date such notice is mailed
(the “Change of Control
Payment Date”) other than as may be required by law;

(iii)          that any Note not tendered will continue to
accrue interest;

(iv)          that any Note accepted for payment pursuant
to the Change of Control Offer shall cease to accrue interest after the Change
of Control Payment Date unless the Company shall default in the payment of the
Change of Control Purchase Price of the Notes and the only remaining right of
the Holder is to receive payment of the Change of Control Purchase Price upon
surrender of the Notes to the Paying Agent;

(v)           that Holders electing to have a portion of a
Note purchased pursuant to a Change of Control Offer may only elect to have
such Note purchased in integral multiples of $1,000;

(vi)          that if a Holder elects to have a Note
purchased pursuant to the Change of Control Offer it will be required to
surrender the Note, with the form entitled “Option of Holder to Elect Purchase”
on the reverse of the Note completed, or transfer by book-entry transfer, to
the Paying Agent at the address specified in the notice prior to the close of
business on the third Business Day prior to the Change of Control Payment Date;

(vii)         that a Holder will be entitled to withdraw its
election if the Company receives, not later than the third Business Day
preceding the Change of Control Payment Date, a telegram, telex, facsimile
transmission or letter setting forth the name of such Holder, the principal
amount of Notes such Holder delivered for purchase, and a statement that such
Holder is withdrawing its election to have such Note purchased; and

(viii)        that if Notes are purchased only in part a new
Note of the same type will be issued in principal amount equal to the
unpurchased portion of the Notes surrendered.

(c)           On or before the Change
of Control Payment Date, the Company shall, to the extent lawful, accept for
payment, all Notes or portions thereof validly tendered pursuant to the Change
of Control Offer, and shall deliver to the Trustee an Officer’s Certificate
stating that such Notes or portions thereof were accepted for payment by the
Company in accordance with the terms of this Section 4.02.  The Company, the Depositary or the Paying
Agent, as the case may be, shall promptly mail or deliver to each tendering
Holder an amount equal to the purchase price of the Notes tendered by such
Holder and accepted by the Company for purchase, and the Company shall promptly
issue a new Note, and the Trustee, upon written request from the Company shall
authenticate and mail or deliver such new Note to such Holder, in a principal
amount equal to any unpurchased portion of the Note surrendered.  Any Note not so accepted shall be promptly
mailed or delivered by the Company to the Holder thereof.

(d)           The Company shall
comply with the requirements of Rule 14e-1 under the Exchange Act and any other
securities laws and regulations thereunder to the extent such laws and
regulations are applicable in connection with the repurchase of Notes pursuant
to an offer hereunder.  To the extent the
provisions of any securities laws or regulations conflict with the provisions
under this Section 4.02, the Company shall comply with the applicable
securities laws and regulations and shall not be deemed to have breached its
obligations under this Section 4.02 by virtue thereof.

 13
 

Section 4.03                           Sale and Lease-Back Transactions.

The Company will not, and will not permit any of its
Subsidiaries to, enter into any Sale and Lease-Back Transaction with respect to
any Principal Property, other than any such Sale and Lease-Back Transaction
involving a lease for a term of not more than three years or any such Sale and
Lease-Back Transaction between the Company and one of its Subsidiaries, or
between Subsidiaries, unless:

(i)            the Company or such
Subsidiary, as applicable, would be entitled to incur indebtedness secured by a
Mortgage on Principal Property involved in such Sale and Lease-Back Transaction
at least equal in amount to the Attributable Debt with respect to such Sale and
Lease-Back Transaction, without equally and ratably securing the Notes,
pursuant to Section 4.01 hereof; or

(ii)           the proceeds of such
Sale and Lease-Back Transaction are at least equal to the fair market value of
the affected Principal Property (as determined in good faith by the Company’s
Board of Directors) and the Company applies an amount equal to the greater of
the net proceeds of such Sale and Lease-Back Transaction or the Attributable
Debt with respect to such Sale and Lease-Back Transaction within 180 days of
such Sale and Lease-Back Transaction to either (or a combination of): (A) the
prepayment or retirement (other than any mandatory retirement, mandatory
prepayment or sinking fund payment or by payment at maturity) of debt for
borrowed money of the Company or a Subsidiary (other than debt that is
subordinated to the Notes or debt owed to the Company by a Subsidiary) that
matures more than 12 months after its creation or (B) the purchase,
construction, development, expansion or improvement of other comparable
property.

Article
5.

SUCCESSORS

Section 5.01                           Merger, Consolidation or Sale of Assets.

The Company shall not merge or consolidate with any
other Person or Persons (whether or not affiliated with the Company) or sell,
convey, transfer, lease or otherwise dispose of all or substantially all of its
property or assets to any other Person or Persons (whether or not affiliated
with the Company), unless:

(i)            either:  (a) the transaction is a merger or
consolidation and the Company is the surviving entity; or (b) the successor
Person (or the Person which acquires by sale, conveyance, transfer or lease all
or substantially all of the Company’s property or assets) is a corporation
organized under the laws of the United States, any state thereof or the
District of Columbia and expressly assumes, by a supplemental indenture
satisfactory to the Trustee, all of the Company’s obligations under the Notes
and the Indenture;

(ii)           immediately after
giving effect to the transaction and treating the Company’s obligations in
connection with or as a result of such transaction as having been incurred as
of the time of such transaction, no Event of Default (and no event or condition
which, after notice or lapse of time or both, would become an Event of Default)
shall have occurred and be continuing under the Indenture; and

(iii)          an Officer’s Certificate
is delivered to the Trustee to the effect that both of the conditions set forth
in clauses (i) and (ii) above have been satisfied and an opinion of counsel has
been delivered to the Trustee to the effect that condition (i) set forth above
has been satisfied.

 14
 

Article
6.

DEFAULTS AND REMEDIES

Section 6.01                           Events of Default.

The Notes shall not have the benefit of the Events of
Default set forth in the Base Indenture. 
Instead, each of the following is an “Event
of Default” with respect to the Notes:

(a)           the failure to pay
interest on any Notes when the same becomes due and payable and the default
continues for a period of 90 days;

(b)           default in the payment
when due of principal of or premium, if any, on the Notes;

(c)           default in the
performance or breach of any covenant or warranty of the Company in this
Supplemental Indenture, which default continues uncured for a period of 90 days
after written notice given by the Trustee or Holders of such Notes, or the
Company and the Trustee receive written notice from the Holders of not less
than a majority in aggregate principal amount of the Notes outstanding; or

(d)           the Company:

(i)            commences a voluntary case in bankruptcy,

(ii)           consents to the entry of an order for relief
against it in an involuntary bankruptcy case,

(iii)          consents to the appointment of a custodian of
it or for all or substantially all of its property,

(iv)          makes a general assignment for the benefit of
its creditors, or

(v)           generally is not paying its debts as they
become due; or

(e)           a court of competent
jurisdiction enters an order or decree under any Bankruptcy Law that:

(i)            is for relief against the Company;

(ii)           appoints a custodian of the Company for all
or substantially all of the property of the Company; or

(iii)          orders the liquidation of the Company;

and the order or decree remains unstayed and in effect
for 90 consecutive days.

 15
 

Article
7.

MISCELLANEOUS

Section 7.01                           Trust Indenture Act Controls.

If any provision of this Supplemental Indenture
limits, qualifies or conflicts with the duties imposed by TIA Section 318(c),
the imposed duties will control.

Section 7.02                           Governing Law.

THE INTERNAL LAWS OF THE STATE OF NEW YORK WILL GOVERN
AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE AND THE NOTES WITHOUT
GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT
THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

Section 7.03                           Successors.

All agreements of the Company in this Supplemental
Indenture and the Notes will bind its successors.  All agreements of the Trustee in this
Supplemental Indenture will bind its successors.

Section 7.04                           Severability.

In case any provision in this Supplemental Indenture
or in the Notes will be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions will not in any way be
affected or impaired thereby.

Section 7.05                           Counterpart Originals.

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

Section 7.06                           Table of Contents, Headings, Etc.

The Table of Contents and Headings of the Articles and
Sections of this Supplemental Indenture have been inserted for convenience of
reference only, are not to be considered a part of this Supplemental Indenture
and will in no way modify or restrict any of the terms or provisions hereof.

[Signatures on
following page]

 16

SIGNATURES

	
  Dated as of June
        , 2007

  	
   

  
	
   

  	
   

  
	
   

  	
  NATIONAL SEMICONDUCTOR CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  THE BANK OF NEW YORK TRUST COMPANY,

  
	
   

  	
  N.A., as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

EXHIBIT A

(Face
of Note)

[Insert the Global Note Legend, if applicable pursuant to the
provisions of the Supplemental Indenture]

CUSIP 637640 AE3

6.600%
Senior Notes due 2017

	
  No.

  	
   

  	
  $

  

 

NATIONAL
SEMICONDUCTOR CORPORATION

	
  promises
  to pay to

  	
  or registered assigns, the principal sum of

  
	
  Dollars on June 15, 2017.

  	
   

  

 

Interest Payment Dates:  June 15 and December 15

Record Dates: 
June 1 and December 1

	
  Dated:

  	
   

  
	
   

  	
   

  
	
   

  	
  NATIONAL SEMICONDUCTOR CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

Date of Authentication:

This is one of the
Global

Notes referred to
in the

within-mentioned Supplemental Indenture:

Dated:

THE BANK OF NEW
YORK TRUST COMPANY, N.A.

as Trustee

	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

 A-1
 

(Back
of Note)

6.600% Senior Notes due 2017

Capitalized terms used herein have the meanings
assigned to them in the Indenture referred to below unless otherwise indicated.

1.             INTEREST.  National Semiconductor Corporation, a
Delaware corporation (the “Company”),
promises to pay interest on the principal amount of this Note at 6.600% per
annum from the date hereof until maturity. 
The Company will pay interest semi-annually on June 15 and December 15
of each year, or if any such day is not a Business Day, on the next succeeding
Business Day (each an “Interest Payment Date”).  Interest on the Notes will accrue from the
most recent date to which interest has been paid or, if no interest has been
paid, from the date of issuance; provided that
if there is no existing Default in the payment of interest, and if this Note is
authenticated between a record date referred to on the face hereof and the next
succeeding Interest Payment Date, interest will accrue from such next
succeeding Interest Payment Date; provided, further,
that the first Interest Payment Date will be December 15, 2007.  The Company will pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue
principal at the rate equal to the then applicable interest rate on the Notes
to the extent lawful; it will pay interest (including post-petition interest in
any proceeding under any Bankruptcy Law) on overdue installments of interest at
the same rate to the extent lawful. 
Interest will be computed on the basis of a 360-day year of twelve
30-day months.

2.             METHOD OF PAYMENT.  The Company will pay interest on the Notes
(except defaulted interest) to the Persons who are registered Holders of Notes
at the close of business on the June 1 or December 1 next preceding the
Interest Payment Date, even if such Notes are canceled after such record date
and on or before such Interest Payment Date, except as provided in Section 2.13
of the Base Indenture with respect to defaulted interest.  Principal, premium, if any, and interest on
the Notes will be payable at the office or agency of the Paying Agent and
Registrar within the City and State of New York or, at the option of the
Company, payment of interest may be made by check mailed to the Holders of the
Notes at their respective addresses set forth in the register of Holders of
Notes; provided that all payments of principal,
premium and interest with respect to Notes the Holders of which have given wire
transfer instructions to the Trustee will be required to be made by wire
transfer of immediately available funds to the accounts specified by the
Holders thereof. Such payment will be in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of
public and private debts.

3.             PAYING AGENT AND REGISTRAR.  Initially, The Bank of New York Trust
Company, N.A., the Trustee under the Indenture, will act as Paying Agent and
Registrar.  The Company may change any
Paying Agent or Registrar without notice to any Holder.  The Company or any of its Subsidiaries may
act in any such capacity.

4.             INDENTURE.  This Note
is one of a duly authenticated series of securities of the Company issued and
to be issued in one or more series under an indenture (the “Base Indenture”), dated as of June 18,
2007 between the Company and the Trustee, as amended by the Supplemental
Indenture (the “Supplemental Indenture” and,
together with the Base Indenture, the “Indenture”),
dated as of June 18, 2007, between the Company and the Trustee.  The terms of the Notes include those stated
in the Indenture and those made part of the Indenture by reference to the Trust
Indenture Act of 1939, as amended (15 U.S. Code Sections 77aaa-77bbbb).  The Notes are subject to all such terms, and
Holders are referred to the Indenture and such Act for a statement of such
terms.  To the extent any provision of
this Note conflicts with the express provisions of the Indenture, the
provisions of the Indenture will govern and be controlling, and to the extent
any provision of the Base Indenture conflicts with the express provisions of
the Supplemental Indenture, the provisions of the Supplemental Indenture will
govern and

 A-2
 

be controlling.  The Company will be entitled to issue
Additional Notes pursuant to Section 2.03 of the Supplemental Indenture.

5.             OPTIONAL REDEMPTION.

At any time prior to June 15, 2017, the Company may,
on any one or more occasions, redeem, in whole or in part, at a redemption
price equal to the greater of the following amounts, plus, in each case,
accrued and unpaid interest, if any, on the principal amount of the Notes being
redeemed to the date of redemption or purchase (“Redemption
Date”) (subject to the right of the holders of record on the
relevant record date to receive interest due on the relevant interest payment
date):

(i)            100%
of the aggregate principal amount of the Notes to be redeemed; or

(ii)           the
sum of the present value at such Redemption Date of (1) the principal amount of
the Notes on the Redemption Date plus (2) all required remaining scheduled interest
payments due on such Notes (but not including any portion of such payments of
interest accrued to the Redemption Date) through the Stated Maturity computed
using a discount rate equal to the Treasury Rate plus 20 basis points.

Calculation of the foregoing shall be made by the
Company or on the Company’s behalf by such Person as the Company shall
designate; provided, however,
that such calculation shall not be a duty or obligation of the Trustee.

On and after the Redemption Date, interest will cease
to accrue on the Notes or portions thereof called for redemption as long as the
Company has deposited with the Paying Agent funds in satisfaction of the
applicable redemption price

6.             MANDATORY REDEMPTION.  Except as set forth in paragraph 7, the
Company shall not be required to make mandatory redemption payments with
respect to the Notes.

7.             REPURCHASE AT OPTION OF HOLDER.

Upon the occurrence of a Change of Control Triggering
Event, the Company will be required to offer to purchase all of the outstanding
Notes at a purchase price equal to 101% of the principal amount thereof, plus
accrued and unpaid interest, if any, to the date of purchase.

8.             NOTICE OF REDEMPTION.  Notice of redemption will be mailed at least
30 days but not more than 60 days before the redemption date to each Holder
whose Notes are to be redeemed at its registered address.  Notes in denominations larger than $2,000 may
be redeemed in part but only in whole multiples of $1,000, unless all of the
Notes held by a Holder are to be redeemed. 
On and after the redemption date interest ceases to accrue on Notes or
portions thereof called for redemption.

9.             DENOMINATIONS, TRANSFER,
EXCHANGE.  The Notes are in
registered form without coupons in denominations of $2,000 and integral
multiples of $1,000.  Notes may be
transferred or exchanged as provided in the Supplemental Indenture.  The Registrar and the Trustee may require a
Holder, among other things, to furnish appropriate endorsements and transfer
documents and the Company may require a Holder to pay any taxes and fees
required by law or permitted by the Supplemental Indenture.  The Company need not exchange or transfer any
Note or portion of a Note selected for redemption, except for the unredeemed
portion of any Note being redeemed in part. 
Also, the Company need not exchange or register the transfer of any
Notes for a period of 15 days before a

 A-3
 

selection of Notes to be
redeemed or during the period between a record date and the corresponding
Interest Payment Date.

10.           PERSONS DEEMED OWNERS.  The registered Holder of a Note may be
treated as its owner for all purposes.

11.           AMENDMENT, SUPPLEMENT AND
WAIVER.  The Base Indenture
may be amended as provided therein. 
Subject to certain exceptions, the Supplemental Indenture or the Notes
may be amended or supplemented with the consent of the Holders of at least a
majority in principal amount of the Notes then outstanding, including, without
limitation, consents obtained in connection with a purchase of, or tender offer
or exchange offer for, Notes, voting as a single class, and any existing
default or compliance with any provision of the Indenture or the Notes may be
waived with the consent of the Holders of a majority in principal amount of the
then outstanding Notes, including, without limitation, consents obtained in
connection with a purchase of, or tender offer or exchange offer for, Notes,
voting as a single class.  Without the
consent of any Holder of a Note, the Supplemental Indenture or the Notes may be
amended or supplemented (i) to cure any ambiguity, defect or inconsistency;
(ii) to provide for uncertificated Notes in addition to or in place of
certificated Notes; (iii) to provide for the assumption of the Company’s
obligations to Holders of the Notes in case of a merger or consolidation or
sale of all or substantially all of the Company’s assets;  (iv) to make any change that would provide
any additional rights or benefits to the Holders of the Notes or that does not
adversely affect the legal rights under the Supplemental Indenture of any such Holder;
(v) to comply with the requirements of the SEC in order to effect or maintain
the qualification of the Supplemental Indenture under the Trust Indenture Act;
(vi) to provide for the issuance of Additional Notes in accordance with the
Supplemental Indenture; or (vii) to evidence and provide for the acceptance of
appointment by a successor trustee.

12.           DEFAULTS AND REMEDIES.  An “EVENT OF DEFAULT” occurs if:  (i) default for a period of 90 days in the
payment when due of interest on the Notes; (ii) default in the payment when due
of principal of or premium, if any, on the Notes; (iii) the Company fails for
90 days after notice to the Company to comply with any covenant or warranty of
the Company in the Indenture; or (iv) certain events of bankruptcy or insolvency
occur with respect to the Company.

If any Event of Default occurs and is continuing, the
Trustee or the Holders of at least 25% in principal amount of the then
outstanding Notes may declare all the Notes to be due and payable.  Notwithstanding the foregoing, in the case of
an Event of Default arising from certain events of bankruptcy or insolvency
with respect to the Company, all outstanding Notes will become due and payable
without further action or notice. 
Holders may not enforce the Indenture or the Notes except as provided in
the Indenture.  Subject to certain
limitations, Holders of a majority in principal amount of the then outstanding
Notes may direct the Trustee in its exercise of any trust or power.  The Trustee may withhold from Holders of the
Notes notice of any continuing Default or Event of Default if it determines
that withholding notice is in their interest, except a Default or Event of
Default relating to the payment of principal or interest.  The Holders of a majority in aggregate
principal amount of the Notes then outstanding by notice to the Trustee may on
behalf of the Holders of all of the Notes waive any existing Default or Event
of Default and its consequences under the Indenture except a continuing Default
or Event of Default in the payment of interest on, or the principal of, the
Notes.  The Company is required to
deliver to the Trustee annually a statement regarding compliance with the
Indenture, and the Company is required upon becoming aware of any Default or
Event of Default, to deliver to the Trustee a statement specifying such Default
or Event of Default.

13.           TRUSTEE DEALINGS WITH
COMPANY.  The Trustee, in its
individual or any other capacity, may make loans to, accept deposits from, and
perform services for the Company or its Affiliates, and may otherwise deal with
the Company or its Affiliates, as if it were not the Trustee.

 A-4
 

14.           NO RECOURSE AGAINST OTHERS.  A director, officer, employee, incorporator
or stockholder, of the Company, as such, will not have any liability for any
obligations of the Company under the Notes or the Indenture or for any claim
based on, in respect of, or by reason of, such obligations or their
creation.  Each Holder of Notes by
accepting a Note waives and releases all such liability.  The waiver and release are part of the
consideration for the issuance of the Notes.

15.           AUTHENTICATION.  This Note will not be valid until
authenticated by the manual signature of the Trustee or an authenticating
agent.

16.           ABBREVIATIONS.  Customary abbreviations may be used in the
name of a Holder 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 Gifts to Minors Act).

17.           CUSIP NUMBERS.  Pursuant to a recommendation promulgated by
the Committee on Uniform Security Identification Procedures, the Company has
caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP
numbers in notices of redemption as a convenience to Holders.  No representation is made as to the accuracy
of such numbers either as printed on the Notes or as contained in any notice of
redemption and reliance may be placed only on the other identification numbers
placed thereon.  The Company will furnish
to any Holder upon written request and without charge a copy of the Base
Indenture and the Supplemental Indenture. 
Requests may be made to:

National
Semiconductor Corporation

3689
Kifer Road

P.O.
Box 58090

Mail
Stop G3-135

Santa
Clara, California 95052-8090

Fascimile
No.:  (408) 733-0293

Attention: 
General Counsel

 A-5
 

ASSIGNMENT
FORM

To assign this Note, fill in the form below:

	
  (I) or (we) assign and transfer this Note to:

  	
   

  
	
   

  	
  (Insert
  assignee’s legal name)

  
	
   

  	
   

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

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

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

  
	
   

  
	
  and irrevocably appoint

  	
   

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

  

 

	
  Date:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Your Signature:

  	
   

  
	
   

  	
   

  	
  (sign exactly as
  your name appears

  
	
   

  	
   

  	
  on the face of
  this senior note)

  
	
   

  	
   

  	
   

  
	
   

  	
  Tax Identification No:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Signature Guarantee:

  	
   

  
							

 

Signatures must be guaranteed by an “eligible
guarantor institution” meeting the requirements of the Registrar, which
requirements include membership or participation in the Security Transfer Agent
Medallion Program (“STAMP”) or such other “signature
guarantee program” as may be determined by the Registrar in addition to, or in
substitution for, STAMP, all in accordance with the Securities Exchange Act of
1934, as amended.

 A-6

Option of Holder to Elect
Purchase

If you want to elect to have this Note purchased by
the Company pursuant to Section 4.02 of the Supplemental Indenture, check the
box below:

o        Section
4.02

If you want to elect to have only part of the Note
purchased by the Company pursuant to Section 4.02 of the Supplemental
Indenture, state the amount you elect to have purchased:  $

	
  Date:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Your Signature:

  	
   

  
	
   

  	
   

  	
  (sign exactly as
  your name appears

  
	
   

  	
   

  	
  on the face of
  this senior note)

  
	
   

  	
   

  	
   

  
	
   

  	
  Tax Identification No:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Signature Guarantee:

  	
   

  
							

 

Signatures must be guaranteed by an “eligible
guarantor institution” meeting the requirements of the Registrar, which
requirements include membership or participation in the Security Transfer Agent
Medallion Program (“STAMP”) or such other “signature
guarantee program” as may be determined by the Registrar in addition to, or in
substitution for, STAMP, all in accordance with the Securities Exchange Act of
1934, as amended.

 C-1

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