Document:

Exhibit 4.01

 

LEHMAN
BROTHERS HOLDINGS INC.

 

AND

 

JPMORGAN
CHASE BANK,

 

as
Trustee

 

 

 

SIXTH
SUPPLEMENTAL INDENTURE

 

Dated
as of April 22, 2004

 

 

 

THIS SIXTH SUPPLEMENTAL
INDENTURE, dated as of April 22, 2004, is between LEHMAN BROTHERS HOLDINGS INC.,
a corporation duly organized and existing under the laws of the State of
Delaware (the “Company”), and JPMORGAN CHASE BANK (formerly known as The Chase
Manhattan Bank and prior thereto as Chemical Bank), a banking corporation duly
organized and existing under the laws of the State of New York, acting as
Trustee under the Indenture referred to below (the “Trustee”).

 

W  I  T 
N  E  S 
S  E  T 
H

 

WHEREAS, the Company has
duly authorized the execution and delivery of an Indenture dated as of February
1, 1996 (the “Indenture”), as amended and supplemented, to provide for the
issuance from time to time of its unsecured notes or other evidences of
indebtedness to be issued in one or more series (the “Securities”), as in the
Indenture provided, up to such principal amount or amounts as may from time to
time be authorized in or pursuant to one or more resolutions of the Board of
Directors;

 

WHEREAS, the Company will
issue to Lehman Brothers Holdings Capital Trust V, a Delaware statutory trust
(“Trust V”), a series of Securities entitled the “6.00% Subordinated Deferrable
Interest Debentures due 2053” (the “Subordinated Debentures”);

 

WHEREAS, the Company has
duly authorized the execution and delivery of this Sixth Supplemental Indenture
in order to provide for certain supplements to the Indenture which shall only
be applicable to the Subordinated Debentures;

 

WHEREAS, all acts and things
necessary to make this Sixth Supplemental Indenture a valid agreement of the
Company according to its terms have been done and performed, and the execution
and delivery of this Sixth Supplemental Indenture have in all respects been
duly authorized;

 

NOW, THEREFORE, in
consideration of the premises, of the purchase and acceptance of the Securities
by the Holders thereof, and of the sum of one dollar duly paid to it by the
Trustee at the execution and delivery of these presents, the receipt whereof is
hereby acknowledged, the Company covenants and agrees with the Trustee to
supplement the Indenture, only for purposes of the Subordinated Debentures, as
follows:

 

SECTION 1.  
AMENDMENTS TO THE INDENTURE

 

1.1                                 Amendment to
Section 101 of the Indenture.  Section 101 of the Indenture is hereby amended solely with
respect to the Subordinated Debentures by adding the following new definitions
thereto, in the appropriate alphabetical sequence:

 

“Debentures” means the
Company’s 6.00% Subordinated Deferrable Interest Debentures due 2053.

 

“Declaration” means the
Amended and Restated Declaration of Trust, dated as of April 22, 2004 among the
Company and the trustees named therein.

 

 

“Trust V” means Lehman
Brothers Holdings Capital Trust V, a Delaware statutory trust.

 

1.2                                 Amendment to
Section 501 of the Indenture.  Section 501 is amended by deleting the “or” at the end of
paragraph (6) and inserting “; or” at the end of paragraph (7) in place of the
period and adding the following at the end thereof:

 

“(8) Trust V shall have
voluntarily or involuntarily dissolved, wound-up its business or otherwise
terminated its existence except in connection with (i) distribution of the
Securities held by Trust V to holders of its securities in liquidation of such
holders’ interests in Trust V, (ii) redemption of all of the securities issued
by Trust V, or (iii) mergers, consolidations or amalgamations, each as permitted
by Section 3.15 of the Declaration.”

 

1.3                                 Amendment to
Section 902 of the Indenture.  Section 902 is amended to add the following at the end thereof:

 

“For purposes of this
Section 902, if the Debentures are held by Trust V, the consent of not less than
66 2/3% of the aggregate liquidation amount of the securities issued by Trust V
shall be required in order for such supplemental indenture to be effective.”

 

1.4                                 Amendment to
Section 1007 of the Indenture.  Section 1007 is amended to add the following at the end thereof:

 

“For purposes of this
Section 1007, if the Debentures are held by Trust V, the consent of not less
than a majority of the aggregate liquidation amount of the securities issued by
Trust V shall be required in order to waive a covenant.”

 

1.5                                 Amendment to
Section 513 of the Indenture.  Section 513 is amended to add the following at the end thereof:

 

“For purposes of this
Section 513, if the Debentures are held by Trust V, the consent of not less
than a majority of the aggregate liquidation amount of the securities issued by
Trust V shall be required in order to waive such default.”

 

1.6                                 Amendment to
Article Ten of the Indenture.  Article Ten of the Indenture is amended to add the following
covenant at the end of such Article:

 

“SECTION 1010.  Trust
Covenants.

 

The Company shall, for so
long as Trust V is in existence:  (i)
maintain directly or indirectly 100% ownership of the common securities of
Trust V, (ii) cause Trust V to remain a statutory trust and not to be voluntarily
dissolved, wound-up, liquidated or terminated, except as provided for in the
Declaration, (iii) use its commercially reasonable efforts to assure that Trust
V will not be an “investment company” for purposes of the Investment Company
Act of 1940, (iv) take no action that would be reasonably likely to cause Trust
V to be classified as an

 

2

 

association or a publicly
traded partnership taxable as a corporation for United States federal income
tax purposes, and (v) agree to pay all debts and obligations (other than with
respect to the securities issued by Trust V) and all costs and expenses of
Trust V (including, but not limited to, all costs and expenses relating to the
organization of Trust V, the fees and expenses of the trustees and all costs
and expenses relating to the operation of Trust V ) and to pay any and all
taxes, duties, assessments or governmental charges of whatever nature (other
than withholding taxes) imposed on Trust V by the United States, or any other
taxing authority, so that the net amounts received and retained by Trust V
after paying such expenses will be equal to the amounts Trust V would have
received had no such costs or expenses been incurred by or imposed on the Trust
V.  The foregoing obligations of the
Company are for the benefit of, and shall be enforceable by, any Person to whom
any such debts, obligations, costs, expenses and taxes are owed (each, a
“Creditor”) whether or not such Creditor has received notice thereof.  Any such Creditor may enforce such
obligations of the Company directly against the Company, and the Company
irrevocable waives any right or remedy to require that any such Creditor take
any action against Trust V or any other Person before proceeding against the
Company.

 

SECTION 2.  
MISCELLANEOUS

 

2.1                                 Debentures.  Attached hereto as Exhibit A is a form of
the Subordinated Debenture.

 

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

 

2.3                                 Continuance of
Indenture.  This Sixth
Supplemental Indenture supplements the Indenture and shall be a part of and
subject to all the terms thereof.  The
Indenture, as supplemented by this Sixth Supplemental Indenture, shall continue
in full force and effect.

 

2.4                                 The Trustee.  The Trustee shall not be responsible in any
manner for or in respect of the validity or sufficiency of this Sixth
Supplemental Indenture, or for or in respect of the recitals contained herein,
all of which recitals are made by the Company solely.

 

2.5                                 Governing Law.  This Sixth Supplemental Indenture shall be
governed by and construed in accordance with the laws of the State of New York.

 

2.6                                 Defined Terms.  All capitalized terms used in this Sixth
Supplemental Indenture which are defined in the Indenture, but not otherwise
defined herein, shall have the same meanings assigned to them in the Indenture.

 

2.7                                 Counterparts.  This Sixth Supplemental Indenture may be
executed in any number of counterparts, each of which so executed shall be
deemed to be an original, but all such counterparts shall together constitute
but one and the same instrument.

 

3

 

JPMorgan Chase Bank hereby
accepts the trusts in this Sixth Supplemental Indenture declared and provided,
upon the terms and conditions hereinabove set forth.

 

4

 

IN WITNESS
WHEREOF, Lehman Brothers Holdings Inc. has caused this Sixth Supplemental
Indenture to be signed and acknowledged by its President, its Chairman of the
Board, one of its Vice Presidents, its Chief Executive Officer or its
Treasurer, and JPMorgan Chase Bank, as Trustee, has caused this Sixth
Supplemental Indenture to be signed and acknowledged by one its authorized
officers, and its corporate seal to be affixed hereunto, and the same to be
attested by one of its authorized officers, as of the day and year first above
written.

 

	
   

  	
  LEHMAN
  BROTHERS HOLDINGS INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name: Barrett
  S. DiPaolo

  
	
   

  	
   

  	
  Title:   Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  JPMORGAN
  CHASE BANK, as Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   Authorized
  Officer

  
					

 

5

 

EXHIBIT
A

 

	
  No. D-      

  	
   

  	
  $                   

  

 

 

LEHMAN
BROTHERS HOLDINGS INC.

6.00% SUBORDINATED DEFERRABLE INTEREST DEBENTURE DUE 2053

 

Lehman
Brothers Holdings Inc., a corporation duly organized and existing under the
laws of the State of Delaware (herein referred to as the “Company”), for value
received, hereby promises to pay to JPMORGAN CHASE BANK, as Property Trustee
(the “Property Trustee”) for LEHMAN BROTHERS HOLDINGS CAPITAL TRUST V (the
“Trust”), at the office or agency of the Company in the Borough of Manhattan, the
City of New York, the principal sum of
              
dollars on April 22, 2053, in such coin or currency of the United States of
America as at the time of payment shall be legal tender for the payment of
public and private debts, and to pay interest on said principal sum at said
office or agency, in like coin or currency, at the rate per annum specified in
the title of this Debenture until the principal hereof becomes due and payable,
and on any overdue principal and (to the extent that payment of such interest
is enforceable under applicable law) on any overdue installment of interest at
the same rate per annum during the period in which such principal is overdue,
compounded quarterly, to the registered holder of this Debenture, until payment
of said principal sum has been made or duly provided for.  Interest on this Debenture, (computed as set
forth herein) shall be payable quarterly (subject to deferral as set forth
herein) in arrears on January 22, April 22, July 22 and October 22 of each year
(each an “Interest Payment Date”), commencing July 22, 2004, from the date of
this Debenture or the most recent Interest Payment Date to which interest has
been paid or duly provided for, unless the date hereof is a date to which
interest has been paid or duly provided for.

 

The interest
so payable on any Interest Payment Date will, subject to certain exceptions
provided in the Indenture referred to on the reverse hereof, be paid to the
person in whose name this Debenture (or one or more Predecessor Securities, as defined
in said Indenture) is registered at the close of business on the Business Day
prior to the relevant Interest Payment Date (each a “Regular Record
Date”).  Interest may, at the option of
the Company, be paid by check mailed to the person entitled thereto at such
person’s address as it appears in the registry books of the Company.

 

REFERENCE IS
MADE TO THE FURTHER PROVISIONS OF THIS DEBENTURE SET FORTH ON THE REVERSE
HEREOF.  SUCH FURTHER PROVISIONS SHALL
FOR ALL PURPOSES HAVE THE SAME EFFECT AS THOUGH FULLY SET FORTH AT THIS PLACE.

 

This Debenture
shall not be valid or become obligatory for any purpose until the certificate
of authentication hereon shall have been signed by the Trustee under the
Indenture referred to on the reverse hereof.

 

 

IN WITNESS
WHEREOF, LEHMAN BROTHERS HOLDINGS INC. has caused this instrument to be signed
by its Chairman of the Board, its Vice Chairman, its President, its Chief
Financial Officer, one of its Vice Presidents or its Treasurer by manual or
facsimile signature, attested by its Secretary or one of its Assistant
Secretaries by manual or facsimile signature.

 

	
   

  	
  LEHMAN
  BROTHERS HOLDINGS INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:
  Barrett S. DiPaolo

  
	
   

  	
   

  	
  Title:   Vice President

  

 

 

	
  Attest:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Name:

  	
  Cindy
  Gregoire

  
	
  Title:

  	
  Assistant
  Secretary

  
			

 

2

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

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

 

Dated
             
    , 200   ,

 

	
   

  	
  JPMORGAN
  CHASE BANK,

  	
   

  
	
   

  	
     as
  Trustee

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
   

  	
   

  
	
   

  	
   

  	
  Authorized
  Officer

  
						

 

3

 

(Reverse of Debenture)

 

LEHMAN
BROTHERS HOLDINGS INC.

6.00% SUBORDINATED DEFERRABLE INTEREST DEBENTURE DUE 2053

 

This Debenture is one of a duly authorized series of Debentures of the
Company designated as the 6.00% Subordinated Deferrable Interest Debentures due
2053 of the Company (herein called the “Debentures”).  The Debentures are one of an indefinite number of series of debt
securities of the Company (herein collectively called the “Securities”), issued
or issuable under and pursuant to an indenture, dated as of February 1, 1996,
as amended and supplemented (herein called the “Indenture”), between the
Company and JPMorgan Chase Bank, formerly known as The Chase Manhattan Bank and
prior thereto as Chemical Bank, as Trustee (herein called the “Trustee”), to
which Indenture and all indentures supplemental thereto reference is hereby
made for a description of rights, limitations of rights, obligations, duties
and immunities thereunder of the Trustee, the Company and the holders of the
Debentures.  The separate series of
Securities may be issued in various aggregate principal amounts, may mature at
different times, may bear interest (if any) at different rates, may be subject
to different redemption provisions or repayment or repurchase rights (if any),
may be subject to different sinking, purchase or analogous funds (if any), may
be subject to different covenants and Events of Default, as defined in the
Indenture, and may otherwise vary as provided in the Indenture.

 

Payment of the
principal of and interest on this Debenture is, to the extent provided in the
Indenture, subordinated and subject in right of payment to the prior payment in
full when due of the principal of (and premium, if any) and interest, if any,
on all Senior Debt, as defined in the Indenture, of the Company and this
Debenture is issued subject to the provisions of the Indenture with respect
thereto.  Each registered holder of this
Debenture, by accepting the same, (a) agrees to and shall be bound by such
provisions, (b) authorizes and expressly directs the Trustee on his or her
behalf to take such action as may be necessary or appropriate to effectuate the
subordination so provided and (c) appoints the Trustee as his or her
attorney-in-fact for any and all such purposes.  Each registered holder hereof, by his or her acceptance hereof,
hereby waives all notice of the acceptance of the subordination provisions
contained herein and in the Indenture by each holder of Senior Debt, whether
now outstanding or hereafter incurred, and waives reliance by each such holder
upon said provisions.  Each registered
holder thereof, by his or her acceptance hereof, agrees to treat the Debentures
as indebtedness for all United States federal income tax purposes.

 

Subject to
Article Eleven of the Indenture, at any time on or after April 22, 2009 and
prior to maturity, the Company shall have the right to redeem this Debenture at
the option of the Company, in whole or in part, at 100% of the principal amount
of such Debentures, plus any accrued but unpaid interest, to the Redemption
Date.

 

If an
Investment Company Event (as defined in the Amended and Restated Declaration of
Trust of the Trust, dated April 22, 2004 among the Company, as Sponsor, the
Trust, and the trustees of the Trust named thereto (the “Declaration”) shall
occur and be continuing, the Company may, at any time within 90 days following
the occurrence of such Investment

 

 

Company Event, redeem the Debentures, in whole but not in part, at a
Redemption Price equal to 100% of the principal amount thereof, plus accrued
and unpaid interest thereon to the Redemption Date.  Subject to certain conditions described in the Indenture, in the
event of the occurrence and continuation of a Tax Event (as defined in the
Declaration), in certain circumstances the Company may redeem the Debentures,
in whole but not in part, at any time within 90 days following the occurrence
of a Tax Event at a Redemption Price equal to 100% of the aggregate principal
amount thereof, plus accrued and unpaid interest thereon to the Redemption
Date.  Any redemption pursuant to this
paragraph shall be made upon not less than 30 nor more than 60 days’ notice to
the Trustee and Holders of the Debentures. 
If less than all the Debentures are to be redeemed by the Company, the
Debentures to be redeemed will be selected by lot or by such other method as
the Trustee shall deem fair and appropriate. 
The Debentures are not subject to a sinking fund.

 

In the event
of redemption of this Debenture in part only, a new Debenture or Debentures of
this series for the unredeemed portion hereof will be issued in the name of the
registered holder hereof upon the surrender hereof at a Place of Payment (as
defined in the Indenture).

 

In case an
Event of Default with respect to the Debentures shall have occurred and be
continuing, the principal hereof may be declared, and upon such declaration
shall become, due and payable, in the manner, with the effect and subject to
the conditions provided in the Indenture. 
The omission by the Company to pay interest during an Extension Period
(as defined below) as permitted hereby shall not constitute an Event of Default
under Section 501 of the Indenture.  An
“Event of Default” means any of those events set forth in Section 501 of the
Indenture, and the event that, when the Property Trustee is the Holder of the
Debentures, the Trust shall have voluntarily or involuntarily dissolved,
wound-up its business or otherwise terminated its existence except in
connection with the (i) distribution of Debentures to holders of Preferred
Securities and Common Securities in liquidation of their interests in the
Trust, (ii) the redemption of all of the outstanding Preferred Securities and
Common Securities, or (iii) certain mergers, consolidations or amalgamation,
each as permitted by the Declaration.

 

If the
Debentures are held by the Trust, the Company, as borrower, hereby covenants to
pay all debts and obligations (other than with respect to the Preferred
Securities and Common Securities of the Trust) and all costs and expenses of
the Trust (including, but not limited to, all costs and expenses relating to
the organization of the Trust, the fees and expenses of the trustees of the
Trust and all costs and expenses relating to the operation of the Trust) and to
pay any and all taxes, duties, assessments or governmental charges of whatever
nature (other than United States withholding taxes) imposed on the Trust by the
United States, or any other taxing authority, so that the net amounts received
and retained by the Trust and the Property Trustee after paying such debts,
obligations, costs, expenses, taxes, duties, assessments, or other governmental
charges, will be equal to the amounts the Trust and the Property Trustee would
have received had no such debts, obligations, costs, expenses, taxes, duties,
assessments, or other governmental charges been incurred by or imposed on the
Trust.  The foregoing obligations of the
Company are for the benefit of, and shall be enforceable by, any person to whom
any such debts, obligations, costs, expenses and taxes are owed (each, a
“Creditor”) whether or not such Creditor has received notice thereof.  Any such Creditor may enforce such
obligations of the Company directly against the Company, and the Company
irrevocably waives any right or

 

2

 

remedy to require that any such Creditor take any action against the
Trust or any other person before proceeding against the Company.  The Company shall execute such additional
agreements as may be necessary or desirable to give full effect to the
foregoing.

 

The Company
hereby covenants that, so long as any Preferred Securities and Common Securities
of the Trust remain outstanding, if (i) there shall have occurred any Event of
Default under the Indenture with respect to the Debentures, (ii) the Company
shall be in default with respect to its payment of any obligations under its
Guarantee (as defined in the Declaration) with respect to the Trust or (iii)
the Company shall have given notice of its election of an Extension Period as
provided herein and shall not have rescinded such notice, or such Extension
Period or any extension thereof shall be continuing, then the Company will not,
and will not permit any Subsidiary to, (x) declare or pay any dividends or
distributions on, or redeem, purchase, acquire or make a liquidation payment
with respect to, any of the Company’s capital stock or (y) make any payment of
principal, interest or premium, if any, on or repay, repurchase or redeem any
debt securities of the Company that rank on a parity with or junior in interest
to this Debenture or make any guarantee payments with respect to any guarantee
by the Company of the debt securities of any Subsidiary of the Company if such
guarantee ranks on a parity with or junior in interest to this Debenture (other
than (a) dividends or distributions in common stock of the Company, (b)
payments under the Guarantee made by the Company in respect of the Preferred
Securities and Common Securities of the Trust, (c) any declaration of a
dividend in connection with the implementation of a shareholders’ rights plan,
or the issuance of stock under any such plan in the future, or the redemption
or repurchase of any such rights pursuant thereto, and (d) purchases of common
stock related to the issuance of common stock or rights under any of the
Company’s benefit plans).

 

The Indenture
contains provisions permitting the Company and the Trustee, with the consent of
the holders of not less than 66-2/3% in aggregate principal amount of each
series of the Securities at the time Outstanding to be affected (each series
voting as a class), evidenced as provided in the Indenture, to execute
supplemental indentures adding any provisions to, or changing in any manner or
eliminating any of the provisions of the Indenture or of any supplemental
indenture or modifying in any manner the rights of the holders of the
Securities of all such series; provided,
however, that no such supplemental indenture shall, among other
things, (i) change the fixed maturity of any Security, or reduce the principal
amount thereof, or reduce the rate or extend the time of payment of interest
thereon or reduce any premium payable on redemption, or make the principal
thereof, or premium, if any, or interest thereon payable in any coin or
currency other than that hereinabove provided, or amend the Indenture to modify
its provisions relating to the subordination of each Security in a manner
adverse to the holder thereof, without the consent of the holder of each
Security so affected, or (ii) change the place of payment on any Security, or
impair the right to institute suit for payment on any Security, or reduce the
aforesaid percentage of Securities, the holders of which are required to
consent to any such supplemental indenture, without the consent of the holders
of each Security so affected.  It is
also provided in the Indenture that, prior to any declaration accelerating the
maturity of any series of Securities, the holders of a majority in aggregate
principal amount of the Securities of such series Outstanding may on behalf of
the holders of all the Securities of such series waive any past default or
Event of Default under the Indenture with respect to such series and its
consequences, except a default in the payment of interest, if any, on or the
principal of, or

 

3

 

premium, if any, on any of the Securities of such series.  Any such consent or waiver by the holder of
this Debenture shall be conclusive and binding upon such holder and upon all
future holders and owners of this Debenture and any Debentures which may be
issued in exchange or substitution herefor, irrespective of whether or not any
notation thereof is made upon this Debenture or such other Debentures.

 

No reference
herein to the Indenture and no provisions of this Debenture or of the Indenture
shall alter or impair the obligations of the Company, which is absolute and
unconditional, to pay the principal of this Debenture at the place, at the time
and in the coin or currency herein prescribed.

 

The amount of
interest payable for any period will be computed (i) for any full 90-day
quarterly interest payment period, on the basis of a 360-day year of twelve
30-day months, (ii) for any period shorter than a full 90-day quarterly
interest payment period for which interest payments are computed, on the basis
of a 30-day month and (iii) for periods of less than a month, the actual number
of days elapsed per 30-day month.  In
the event that any date on which interest is payable on this Debenture is not a
Business Day (as defined in the Indenture), then payment of the amount payable
on such date will be made on the next succeeding day which is a Business Day
(and without any interest or other payment in respect of any such delay) except
that, if such Business Day is in the next succeeding calendar year, such
payment shall be made on the immediately preceding Business Day, in each case
with the same force and effect as if made on the original Interest Payment
Date, subject to certain rights of deferral described below.

 

The Company
shall have the right at any time, on one or more occasions, so long as an Event
of Default has not occurred and is not continuing under the Indenture, to
extend any interest payment period on this Debenture for a period (an
“Extension Period”) not to exceed twenty consecutive quarterly interest payment
periods; provided that the date on which such Extension Period ends must be on
an Interest Payment Date and must be no later than April 22, 2053 or any date
on which any Debentures are fixed for redemption, and, as a consequence, the
quarterly interest payment on the Debentures would be deferred (but would
continue to accrue with interest thereon compounded quarterly at the rate of
interest on the Debentures, except to the extent payment of such interest is
prohibited by law) during any such Extension Period.  On the Interest Payment Date at the end of each Extension Period,
the Company shall pay all interest then accrued and unpaid (compounded
quarterly, at the rate of interest on the Debentures, except to the extent
payment of such interest is prohibited by law) to the date of payment, to the
persons in whose name the Debentures are registered on the Regular Record Date
immediately preceding the Interest Payment Date at the end of such Extension
Period.  The Company shall give written
notice to the Regular Trustees (as defined in the Declaration), the Property
Trustee and the Trustee of its election of such Extension Period one Business
Day before the earlier of (i) the next succeeding date on which
distributions on the Preferred Securities of the Trust are payable or (ii) the
date the Trust is required to give notice of the record date or the date such
distributions are payable to the New York Stock Exchange or other applicable
self-regulatory organization or to holders of the Preferred Securities issued
by the Trust, but in any event at least one Business Day before such record
date.  During any Extension Period, the
Company may continue to extend the interest payment period by extending the
Extension Period, on one or more occasions by giving notice as aforesaid; provided
that such Extension Period, as extended, must end on an

 

4

 

Interest Payment Date and in no event shall the aggregate Extension
Period, as extended, exceed twenty consecutive quarterly interest payment
periods or extend beyond April 22, 2053 or any date on which any of the
Debentures are fixed for redemption.  No
interest shall be due and payable on the Debentures during an Extension Period
except at the end thereof.

 

Notwithstanding the provisions of Section
401(a)(B) of the Indenture, the Company may satisfy and discharge the entire
indebtedness on all the Debentures as provided therein only when the Debentures
are by their terms due and payable within one year.

 

The Debentures
are issuable in registered form without coupons in denominations of $25 and any
multiple of $25.  At the option of the
holders thereof, either at the office or agency to be designated and maintained
by the Company for such purpose in the Borough of Manhattan, The City of New
York, pursuant to the provisions of the Indenture or at any of such other
offices or agencies as may be designated and maintained by the Company for such
purpose pursuant to the provisions of the Indenture, and in the manner and
subject to the limitations provided in the Indenture, but without the payment
of any service charge, except for any tax or other governmental charges imposed
in connection therewith, Debentures may be exchanged for an equal aggregate
principal amount of Debentures of like tenor and of other authorized
denominations.

 

The Company,
the Trustee, and any agent of the Company or of the Trustee may deem and treat
the registered holder hereof as the absolute owner of this Debenture (whether
or not this Debenture shall be overdue and notwithstanding any notation of
ownership or other writing hereon), for the purpose of receiving payment
hereof, or on account hereof, and for all other purposes, and neither the
Company nor the Trustee nor any agent of the Company or of the Trustee shall be
affected by any notice to the contrary. 
All such payments made to or upon the order of such registered holder
shall, to the extent of the sum or sums paid, effectually satisfy and discharge
liability for moneys payable on this Debenture.

 

No recourse
for the payment of the principal of or the interest on this Debenture, or for
any claim based hereon or otherwise in respect hereof, and no recourse under or
upon any obligation, covenant or agreement of the Company in the Indenture or
any indenture supplemental thereto or in any Debenture, or because of the
creation of any indebtedness represented thereby, shall be had against any
incorporator, stockholder, officer or director as such, past, present or
future, of the Company or of any successor corporation, either directly or
through the Company or any successor corporation, whether by virtue of any
constitution, statute or rule of law or by the enforcement of any assessment or
penalty or otherwise, all such liability being, by the acceptance hereof and as
part of the consideration for the issue hereof, expressly waived and released.

 

As provided in
the Indenture and subject to certain limitations therein set forth, the
transfer of this Debenture is registrable in the Security Register, upon
surrender of this Debenture for registration of transfer at the office or
agency of the Company in any place where the principal of this Debenture is
payable, duly endorsed by, or accompanied by a written instrument of transfer
in form satisfactory to the Company and the Security Registrar duly executed
by, the holder hereof or such holder’s attorney duly authorized in writing, and

 

5

 

thereupon one or more new Debentures of this series of like tenor and
of authorized denominations and for the same aggregate principal amount will be
issued to the designated transferee or transferees.

 

The Indenture and the Debentures shall be
governed by and construed in accordance with the laws of the State of New York.

 

All items used
in this Debenture which are defined in the Indenture shall have the meanings
assigned to them in the Indenture.

 

6

 

 

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

TEN COM - as
tenants in common

TEN ENT - as
tenants by their entireties

JT TEN - as
joint tenants with right of survivorship and not as tenants in common

 

UNIF GIFT MIN
ACT -
                
Custodian                 
under Uniform Gifts to

	
   

  	
  (Cut)

  	
   

  	
  (Minor)

  

 

Minors
Act                                  

(State)

 

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

 

 

7

 

ASSIGNMENT

 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto

 

 

 

 

(Please insert social security or other identifying number of Assignee)

 

 

 

 

(Name and address of Assignee, including zip code, must be printed or
typewritten.)

 

the within Debenture, and all
rights thereunder, hereby irrevocably constituting and appointing

 

 

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

 

	
  Date:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Signature:

  	
   

  	
   

  
	
   

  	
  NOTICE: The signature to
  this assignment must correspond with the name as it appears upon the face of
  the within Debenture in every particular, without alteration or enlargement
  or any change whatever.

  
						

 

 

	
  Signature(s)
  Guaranteed:

  	
   

  	
   

  

THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN
ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN
ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED MEDALLION
SIGNATURE GUARANTEE PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.Exhibit 4.02

 

	
  No. D-1

  	
   

  	
  $412,371,150

  

 

 

LEHMAN BROTHERS HOLDINGS INC.

6.00% SUBORDINATED DEFERRABLE INTEREST DEBENTURE DUE 2053

 

Lehman Brothers Holdings Inc., a corporation duly organized and
existing under the laws of the State of Delaware (herein referred to as the
“Company”), for value received, hereby promises to pay to JPMORGAN CHASE BANK,
as Property Trustee (the “Property Trustee”) for LEHMAN BROTHERS HOLDINGS
CAPITAL TRUST V (the “Trust”), at the office or agency of the Company in the
Borough of Manhattan, the City of New York, the principal sum of FOUR HUNDRED
TWELVE MILLION THREE HUNDRED SEVENTY-ONE THOUSAND ONE HUNDRED FIFTY dollars on
April 22, 2053, in such coin or currency of the United States of America
as at the time of payment shall be legal tender for the payment of public and
private debts, and to pay interest on said principal sum at said office or
agency, in like coin or currency, at the rate per annum specified in the title
of this Debenture until the principal hereof becomes due and payable, and on
any overdue principal and (to the extent that payment of such interest is
enforceable under applicable law) on any overdue installment of interest at the
same rate per annum during the period in which such principal is overdue,
compounded quarterly, to the registered holder of this Debenture, until payment
of said principal sum has been made or duly provided for.  Interest on this Debenture, (computed as set
forth herein) shall be payable quarterly (subject to deferral as set forth
herein) in arrears on January 22, April 22, July 22 and
October 22 of each year (each an “Interest Payment Date”), commencing
July 22, 2004, from the date of this Debenture or the most recent Interest
Payment Date to which interest has been paid or duly provided for, unless the
date hereof is a date to which interest has been paid or duly provided for.

 

The interest so payable on any Interest Payment Date will, subject to
certain exceptions provided in the Indenture referred to on the reverse hereof,
be paid to the person in whose name this Debenture (or one or more Predecessor
Securities, as defined in said Indenture) is registered at the close of
business on the Business Day prior to the relevant Interest Payment Date (each
a “Regular Record Date”).  Interest may,
at the option of the Company, be paid by check mailed to the person entitled
thereto at such person’s address as it appears in the registry books of the
Company.

 

REFERENCE IS MADE TO THE FURTHER PROVISIONS OF THIS DEBENTURE SET FORTH
ON THE REVERSE HEREOF.  SUCH FURTHER
PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS THOUGH FULLY SET
FORTH AT THIS PLACE.

 

This Debenture shall not be valid or become obligatory for any purpose
until the certificate of authentication hereon shall have been signed by the
Trustee under the Indenture referred to on the reverse hereof.

 

 

IN WITNESS WHEREOF, LEHMAN BROTHERS HOLDINGS INC. has caused this
instrument to be signed by its Chairman of the Board, its Vice Chairman, its
President, its Chief Financial Officer, one of its Vice Presidents or its
Treasurer by manual or facsimile signature, attested by its Secretary or one of
its Assistant Secretaries by manual or facsimile signature.

 

	
   

  	
  LEHMAN BROTHERS HOLDINGS INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
   

  	
   

  
	
   

  	
   

  	
  Name: Barrett S. DiPaolo

  
	
   

  	
   

  	
  Title:   Vice President

  

 

 

	
  Attest:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Name: Cindy Gregoire

  
	
  Title:   Assistant Secretary

  

 

2

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

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

 

Dated April 22, 2004,

 

	
   

  	
  JPMORGAN CHASE BANK,

  
	
   

  	
    as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Authorized Officer

  

 

3

 

(Reverse of Debenture)

 

LEHMAN BROTHERS HOLDINGS INC.

6.00% SUBORDINATED DEFERRABLE INTEREST DEBENTURE DUE 2053

 

This Debenture is one of a duly authorized series of Debentures of the
Company designated as the 6.00% Subordinated Deferrable Interest Debentures due
2053 of the Company (herein called the “Debentures”).  The Debentures are one of an indefinite number of series of debt
securities of the Company (herein collectively called the “Securities”), issued
or issuable under and pursuant to an indenture, dated as of February 1,
1996, as amended and supplemented (herein called the “Indenture”), between the
Company and JPMorgan Chase Bank, formerly known as The Chase Manhattan Bank and
prior thereto as Chemical Bank, as Trustee (herein called the “Trustee”), to
which Indenture and all indentures supplemental thereto reference is hereby
made for a description of rights, limitations of rights, obligations, duties
and immunities thereunder of the Trustee, the Company and the holders of the
Debentures.  The separate series of
Securities may be issued in various aggregate principal amounts, may mature at
different times, may bear interest (if any) at different rates, may be subject
to different redemption provisions or repayment or repurchase rights (if any),
may be subject to different sinking, purchase or analogous funds (if any), may
be subject to different covenants and Events of Default, as defined in the
Indenture, and may otherwise vary as provided in the Indenture.

 

Payment of the principal of and interest on this Debenture is, to the
extent provided in the Indenture, subordinated and subject in right of payment
to the prior payment in full when due of the principal of (and premium, if any)
and interest, if any, on all Senior Debt, as defined in the Indenture, of the
Company and this Debenture is issued subject to the provisions of the Indenture
with respect thereto.  Each registered
holder of this Debenture, by accepting the same, (a) agrees to and shall be
bound by such provisions, (b) authorizes and expressly directs the Trustee on
his or her behalf to take such action as may be necessary or appropriate to
effectuate the subordination so provided and (c) appoints the Trustee as his or
her attorney-in-fact for any and all such purposes.  Each registered holder hereof, by his or her acceptance hereof,
hereby waives all notice of the acceptance of the subordination provisions
contained herein and in the Indenture by each holder of Senior Debt, whether
now outstanding or hereafter incurred, and waives reliance by each such holder
upon said provisions.  Each registered
holder thereof, by his or her acceptance hereof, agrees to treat the Debentures
as indebtedness for all United States federal income tax purposes.

 

Subject to Article Eleven of the Indenture, at any time on or
after April 22, 2009 and prior to maturity, the Company shall have the
right to redeem this Debenture at the option of the Company, in whole or in
part, at 100% of the principal amount of such Debentures, plus any accrued but
unpaid interest, to the Redemption Date.

 

If an Investment Company Event (as defined in the Amended and Restated
Declaration of Trust of the Trust, dated April 22, 2004 among the Company,
as Sponsor, the Trust, and the trustees of the Trust named thereto (the
“Declaration”) shall occur and be continuing, the Company may, at any time within
90 days following the occurrence of such Investment

 

 

Company Event, redeem the Debentures, in whole but not in part, at a
Redemption Price equal to 100% of the principal amount thereof, plus accrued
and unpaid interest thereon to the Redemption Date.  Subject to certain conditions described in the Indenture, in the
event of the occurrence and continuation of a Tax Event (as defined in the
Declaration), in certain circumstances the Company may redeem the Debentures,
in whole but not in part, at any time within 90 days following the occurrence
of a Tax Event at a Redemption Price equal to 100% of the aggregate principal
amount thereof, plus accrued and unpaid interest thereon to the Redemption
Date.  Any redemption pursuant to this
paragraph shall be made upon not less than 30 nor more than 60 days’ notice to
the Trustee and Holders of the Debentures. 
If less than all the Debentures are to be redeemed by the Company, the
Debentures to be redeemed will be selected by lot or by such other method as
the Trustee shall deem fair and appropriate. 
The Debentures are not subject to a sinking fund.

 

In the event of redemption of this Debenture in part only, a new
Debenture or Debentures of this series for the unredeemed portion hereof will
be issued in the name of the registered holder hereof upon the surrender hereof
at a Place of Payment (as defined in the Indenture).

 

In case an Event of Default with respect to the Debentures shall have
occurred and be continuing, the principal hereof may be declared, and upon such
declaration shall become, due and payable, in the manner, with the effect and
subject to the conditions provided in the Indenture.  The omission by the Company to pay interest during an Extension
Period (as defined below) as permitted hereby shall not constitute an Event of
Default under Section 501 of the Indenture.  An “Event of Default” means any of those events set forth in
Section 501 of the Indenture, and the event that, when the Property Trustee
is the Holder of the Debentures, the Trust shall have voluntarily or
involuntarily dissolved, wound-up its business or otherwise terminated its
existence except in connection with the (i) distribution of Debentures to
holders of Preferred Securities and Common Securities in liquidation of their
interests in the Trust, (ii) the redemption of all of the outstanding Preferred
Securities and Common Securities, or (iii) certain mergers, consolidations or
amalgamation, each as permitted by the Declaration.

 

If the Debentures are held by the Trust, the Company, as borrower,
hereby covenants to pay all debts and obligations (other than with respect to
the Preferred Securities and Common Securities of the Trust) and all costs and
expenses of the Trust (including, but not limited to, all costs and expenses
relating to the organization of the Trust, the fees and expenses of the
trustees of the Trust and all costs and expenses relating to the operation of
the Trust) and to pay any and all taxes, duties, assessments or governmental
charges of whatever nature (other than United States withholding taxes) imposed
on the Trust by the United States, or any other taxing authority, so that the
net amounts received and retained by the Trust and the Property Trustee after
paying such debts, obligations, costs, expenses, taxes, duties, assessments, or
other governmental charges, will be equal to the amounts the Trust and the
Property Trustee would have received had no such debts, obligations, costs,
expenses, taxes, duties, assessments, or other governmental charges been incurred
by or imposed on the Trust.  The
foregoing obligations of the Company are for the benefit of, and shall be
enforceable by, any person to whom any such debts, obligations, costs, expenses
and taxes are owed (each, a “Creditor”) whether or not such Creditor has
received notice thereof.  Any such
Creditor may enforce such obligations of the Company directly against the
Company, and the Company irrevocably waives any right or

 

2

 

remedy to require that any such Creditor take any action against the
Trust or any other person before proceeding against the Company.  The Company shall execute such additional
agreements as may be necessary or desirable to give full effect to the
foregoing.

 

The Company hereby covenants that, so long as any Preferred Securities
and Common Securities of the Trust remain outstanding, if (i) there shall have
occurred any Event of Default under the Indenture with respect to the
Debentures, (ii) the Company shall be in default with respect to its payment of
any obligations under its Guarantee (as defined in the Declaration) with
respect to the Trust or (iii) the Company shall have given notice of its
election of an Extension Period as provided herein and shall not have rescinded
such notice, or such Extension Period or any extension thereof shall be
continuing, then the Company will not, and will not permit any Subsidiary to,
(x) declare or pay any dividends or distributions on, or redeem, purchase,
acquire or make a liquidation payment with respect to, any of the Company’s
capital stock or (y) make any payment of principal, interest or premium, if
any, on or repay, repurchase or redeem any debt securities of the Company that
rank on a parity with or junior in interest to this Debenture or make any
guarantee payments with respect to any guarantee by the Company of the debt
securities of any Subsidiary of the Company if such guarantee ranks on a parity
with or junior in interest to this Debenture (other than (a) dividends or
distributions in common stock of the Company, (b) payments under the Guarantee
made by the Company in respect of the Preferred Securities and Common
Securities of the Trust, (c) any declaration of a dividend in connection with
the implementation of a shareholders’ rights plan, or the issuance of stock
under any such plan in the future, or the redemption or repurchase of any such
rights pursuant thereto, and (d) purchases of common stock related to the
issuance of common stock or rights under any of the Company’s benefit plans).

 

The Indenture contains provisions permitting the Company and the
Trustee, with the consent of the holders of not less than 66-2/3% in aggregate
principal amount of each series of the Securities at the time Outstanding to be
affected (each series voting as a class), evidenced as provided in the
Indenture, to execute supplemental indentures adding any provisions to, or
changing in any manner or eliminating any of the provisions of the Indenture or
of any supplemental indenture or modifying in any manner the rights of the
holders of the Securities of all such series; provided,
however, that no such supplemental indenture shall, among other
things, (i) change the fixed maturity of any Security, or reduce the principal
amount thereof, or reduce the rate or extend the time of payment of interest
thereon or reduce any premium payable on redemption, or make the principal
thereof, or premium, if any, or interest thereon payable in any coin or
currency other than that hereinabove provided, or amend the Indenture to modify
its provisions relating to the subordination of each Security in a manner
adverse to the holder thereof, without the consent of the holder of each
Security so affected, or (ii) change the place of payment on any Security, or
impair the right to institute suit for payment on any Security, or reduce the
aforesaid percentage of Securities, the holders of which are required to
consent to any such supplemental indenture, without the consent of the holders
of each Security so affected.  It is
also provided in the Indenture that, prior to any declaration accelerating the
maturity of any series of Securities, the holders of a majority in aggregate
principal amount of the Securities of such series Outstanding may on behalf of
the holders of all the Securities of such series waive any past default or
Event of Default under the Indenture with respect to such series and its
consequences, except a default in the payment of interest, if any, on or the
principal of, or

 

3

 

premium, if any, on any of the Securities of such series.  Any such consent or waiver by the holder of
this Debenture shall be conclusive and binding upon such holder and upon all
future holders and owners of this Debenture and any Debentures which may be
issued in exchange or substitution herefor, irrespective of whether or not any
notation thereof is made upon this Debenture or such other Debentures.

 

No reference herein to the Indenture and no provisions of this
Debenture or of the Indenture shall alter or impair the obligations of the
Company, which is absolute and unconditional, to pay the principal of this
Debenture at the place, at the time and in the coin or currency herein
prescribed.

 

The amount of interest payable for any period will be computed (i) for
any full 90-day quarterly interest payment period, on the basis of a 360-day
year of twelve 30-day months, (ii) for any period shorter than a full 90-day
quarterly interest payment period for which interest payments are computed, on
the basis of a 30-day month and (iii) for periods of less than a month, the
actual number of days elapsed per 30-day month.  In the event that any date on which interest is payable on this
Debenture is not a Business Day (as defined in the Indenture), then payment of
the amount payable on such date will be made on the next succeeding day which
is a Business Day (and without any interest or other payment in respect of any
such delay) except that, if such Business Day is in the next succeeding
calendar year, such payment shall be made on the immediately preceding Business
Day, in each case with the same force and effect as if made on the original
Interest Payment Date, subject to certain rights of deferral described below.

 

The Company shall have the right at any time, on one or more occasions,
so long as an Event of Default has not occurred and is not continuing under the
Indenture, to extend any interest payment period on this Debenture for a period
(an “Extension Period”) not to exceed twenty consecutive quarterly interest
payment periods; provided that the date on which such Extension Period ends
must be on an Interest Payment Date and must be no later than April 22,
2053 or any date on which any Debentures are fixed for redemption, and, as a
consequence, the quarterly interest payment on the Debentures would be deferred
(but would continue to accrue with interest thereon compounded quarterly at the
rate of interest on the Debentures, except to the extent payment of such
interest is prohibited by law) during any such Extension Period.  On the Interest Payment Date at the end of
each Extension Period, the Company shall pay all interest then accrued and
unpaid (compounded quarterly, at the rate of interest on the Debentures, except
to the extent payment of such interest is prohibited by law) to the date of
payment, to the persons in whose name the Debentures are registered on the
Regular Record Date immediately preceding the Interest Payment Date at the end
of such Extension Period.  The Company
shall give written notice to the Regular Trustees (as defined in the
Declaration), the Property Trustee and the Trustee of its election of such
Extension Period one Business Day before the earlier of (i) the next
succeeding date on which distributions on the Preferred Securities of the Trust
are payable or (ii) the date the Trust is required to give notice of the record
date or the date such distributions are payable to the New York Stock Exchange
or other applicable self-regulatory organization or to holders of the Preferred
Securities issued by the Trust, but in any event at least one Business Day
before such record date.  During any
Extension Period, the Company may continue to extend the interest payment
period by extending the Extension Period, on one or more occasions by giving
notice as aforesaid; provided that such Extension Period, as extended, must end
on an

 

4

 

Interest Payment Date and in no event shall the aggregate Extension
Period, as extended, exceed twenty consecutive quarterly interest payment
periods or extend beyond April 22, 2053 or any date on which any of the
Debentures are fixed for redemption.  No
interest shall be due and payable on the Debentures during an Extension Period
except at the end thereof.

 

Notwithstanding the provisions of Section 401(a)(B) of the
Indenture, the Company may satisfy and discharge the entire indebtedness on all
the Debentures as provided therein only when the Debentures are by their terms
due and payable within one year.

 

The Debentures are issuable in registered form without coupons in
denominations of $25 and any multiple of $25. 
At the option of the holders thereof, either at the office or agency to
be designated and maintained by the Company for such purpose in the Borough of
Manhattan, The City of New York, pursuant to the provisions of the Indenture or
at any of such other offices or agencies as may be designated and maintained by
the Company for such purpose pursuant to the provisions of the Indenture, and
in the manner and subject to the limitations provided in the Indenture, but
without the payment of any service charge, except for any tax or other
governmental charges imposed in connection therewith, Debentures may be
exchanged for an equal aggregate principal amount of Debentures of like tenor
and of other authorized denominations.

 

The Company, the Trustee, and any agent of the Company or of the
Trustee may deem and treat the registered holder hereof as the absolute owner
of this Debenture (whether or not this Debenture shall be overdue and
notwithstanding any notation of ownership or other writing hereon), for the
purpose of receiving payment hereof, or on account hereof, and for all other
purposes, and neither the Company nor the Trustee nor any agent of the Company
or of the Trustee shall be affected by any notice to the contrary.  All such payments made to or upon the order
of such registered holder shall, to the extent of the sum or sums paid,
effectually satisfy and discharge liability for moneys payable on this
Debenture.

 

No recourse for the payment of the principal of or the interest on this
Debenture, or for any claim based hereon or otherwise in respect hereof, and no
recourse under or upon any obligation, covenant or agreement of the Company in
the Indenture or any indenture supplemental thereto or in any Debenture, or
because of the creation of any indebtedness represented thereby, shall be had
against any incorporator, stockholder, officer or director as such, past,
present or future, of the Company or of any successor corporation, either
directly or through the Company or any successor corporation, whether by virtue
of any constitution, statute or rule of law or by the enforcement of any
assessment or penalty or otherwise, all such liability being, by the acceptance
hereof and as part of the consideration for the issue hereof, expressly waived
and released.

 

As provided in the Indenture and subject to certain limitations therein
set forth, the transfer of this Debenture is registrable in the Security
Register, upon surrender of this Debenture for registration of transfer at the
office or agency of the Company in any place where the principal of this
Debenture is payable, duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to the Company and the Security Registrar duly
executed by, the holder hereof or such holder’s attorney duly authorized in
writing, and

 

5

 

thereupon one or more new Debentures of this series of like tenor and
of authorized denominations and for the same aggregate principal amount will be
issued to the designated transferee or transferees.

 

The Indenture and the Debentures shall be
governed by and construed in accordance with the laws of the State of New York.

 

All items used in this Debenture which are defined in the Indenture
shall have the meanings assigned to them in the Indenture.

 

6

 

 

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

TEN COM - as tenants in common

TEN ENT - as tenants by their entireties

JT TEN - as joint tenants with right of survivorship and not as tenants
in common

 

UNIF GIFT MIN ACT
-                 
Custodian
                 
under Uniform Gifts to

	
   

  	
  (Cut)

  	
   

  	
  (Minor)

  

Minors
Act                          

(State)

 

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

 

 

7

 

ASSIGNMENT

 

FOR VALUE RECEIVED, the undersigned hereby
sells, assigns and transfers unto

 

 

 

 

(Please insert social security or other
identifying number of Assignee)

 

 

 

 

(Name and address of Assignee, including zip
code, must be printed or typewritten.)

 

the within Debenture, and all rights thereunder, hereby irrevocably
constituting and appointing

 

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

 

	
  Date:

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Signature:

  	
   

  	
   

  
	
   

  	
  NOTICE:
  The signature to this assignment must correspond with the name as it appears
  upon the face of the within Debenture in every particular, without alteration
  or enlargement or any change whatever.

  

 

 

	
  Signature(s) Guaranteed:

  	
   

  	
   

  

THE
SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS,
STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP
IN AN APPROVED MEDALLION SIGNATURE GUARANTEE PROGRAM), PURSUANT TO S.E.C. RULE
17Ad-15.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00065-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00065-of-00352.parquet"}]]