Document:

Exhibit 4.1

 

Exhibit 4.1

 

MARTIN MARIETTA MATERIALS, INC.

as Issuer

Branch Banking & Trust Company

as Trustee

INDENTURE

Dated as of                     , 20______

 

 

 

MARTIN MARIETTA MATERIALS, INC.

CERTAIN SECTIONS OF THIS INDENTURE RELATING TO

SECTIONS 310 THROUGH 318, INCLUSIVE, OF THE

TRUST INDENTURE ACT OF 1939

	 	 	 	 	 
	Trust Indenture	 	 	 
	Act Section	 	Indenture Section	 
	Section 310(a)(1)
	 	 	7.10	 
	(a)(2)
	 	 	7.10	 
	(a)(3)
	 	Not applicable
	(a)(4)
	 	Not applicable
	(b)
	 	 	7.8	 
	 
	 	 	 	 
	Section 311(a)
	 	 	7.11	 
	(b)
	 	 	7.11	 
	 
	 	 	 	 
	Section 312(a)
	 	 	2.6	 
	(b)
	 	 	10.3
	 
	(c)
	 	 	10.3	 
	 
	 	 	 	 
	Section 3l3(a)
	 	 	7.6	 
	(b)
	 	 	7.6	 
	(c)
	 	 	7.6	 
	(d)
	 	 	7.6	 
	 
	 	 	 	 
	Section 314(a)
	 	 	 4.6, 4.7	 
	(a) (4)
	 	 	4.6, 4.7	 
	(b)
	 	Not applicable
	(c) (1)
	 	 	10.4, 10.5	 
	(c) (2)
	 	 	10.4, 10.5	 
	(c) (3)
	 	Not applicable
	(d)
	 	Not applicable
	(e)
	 	 	10.5	 
	 
	 	 	 	 
	Section 315(a)
	 	 	7.1, 7.2	 
	(b)
	 	 	7.5, 10.1	 
	(c)
	 	 	7.1	 
	(d)
	 	 	7.1	 
	(e)
	 	 	6.11	 
	 
	 	 	 	 
	Section 316(a)
	 	 	6.5	 
	(a) (1)
	 	 	6.5	 
	(a) (1)
	 	 	(B) 6.4	 
	(a) (2)
	 	Not applicable
	(b)
	 	 	6.6, 6.7	 
	(c)
	 	 	10.16	 

i

 

	 	 	 	 	 
	Trust Indenture	 	 	 
	Act Section	 	Indenture Section	 
	Section 317(a)(1)
	 	 	6.8	 
	(a) (2)
	 	 	6.9	 
	(b)
	 	 	2.5	 
	 
	 	 	 	 
	Section 3.18(a)
	 	 	10.1	 

 

			
	 	 	NOTE: This reconciliation and tie shall not, for any purpose, be deemed to be a part of the
Indenture.

ii

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 
	 	ARTICLE 1.	 	 	 	 
	 
	 	DEFINITIONS AND INCORPORATION BY REFERENCE	 	 	 	 
	Section 1.1.
	 	Definitions	 	 	1	 
	Section 1.2.
	 	Other Definitions	 	 	3	 
	Section 1.3.
	 	Incorporation by Reference of TIA	 	 	3	 
	Section 1.4.
	 	Rules of Construction	 	 	4	 
	 
	 	 	 	 	 	 
	 
	 	ARTICLE 2.	 	 	 	 
	 
	 	THE SECURITIES	 	 	 	 
	 
	 	 	 	 	 	 
	Section 2.1.
	 	Form and Dating	 	 	4	 
	Section 2.2.
	 	Execution and Authentication	 	 	6	 
	Section 2.3.
	 	Title, Amount and Terms of Securities	 	 	7	 
	Section 2.4.
	 	Registrar and Paying Agent	 	 	9	 
	Section 2.5.
	 	Paying Agent to Hold Money in Trust	 	 	10	 
	Section 2.6.
	 	Securityholder Lists	 	 	10	 
	Section 2.7.
	 	Transfer and Exchange	 	 	10	 
	Section 2.8.
	 	Replacement Securities	 	 	12	 
	Section 2.9.
	 	Outstanding Securities	 	 	12	 
	Section 2.10.
	 	Temporary Securities	 	 	13	 
	Section 2.11.
	 	Cancellation	 	 	13	 
	Section 2.12.
	 	Defaulted Interest	 	 	13	 
	Section 2.13.
	 	Payment in Currencies	 	 	13	 
	Section 2.14.
	 	CUSIP Numbers	 	 	15	 
	 
	 	 	 	 	 	 
	 
	 	ARTICLE 3.	 	 	 	 
	 
	 	REDEMPTION	 	 	 	 
	 
	 	 	 	 	 	 
	Section 3.1.
	 	Applicability of this Article	 	 	15	 
	Section 3.2.
	 	Notices to Trustee	 	 	15	 
	Section 3.3.
	 	Selection of Securities to be Redeemed	 	 	15	 
	Section 3.4.
	 	Notice of Redemption	 	 	16	 
	Section 3.5.
	 	Effect of Notice of Redemption	 	 	16	 
	Section 3.6.
	 	Deposit of Redemption Price	 	 	16	 
	Section 3.7.
	 	Securities Redeemed in Part	 	 	16	 
	 
	 	 	 	 	 	 
	 
	 	ARTICLE 4.	 	 	 	 
	 
	 	COVENANTS	 	 	 	 
	 
	 	 	 	 	 	 
	Section 4.1.
	 	Certain Definitions	 	 	17	 
	Section 4.2.
	 	Payment of Securities	 	 	18	 
	Section 4.3.
	 	Limitation on Liens	 	 	18	 
	Section 4.4.
	 	Limitation on Sale-Leaseback Transactions	 	 	20	 
	Section 4.5.
	 	No Lien Created, etc.	 	 	21	 
	Section 4.6.
	 	Compliance Certificate	 	 	21	 

iii

 

	 	 	 	 	 	 	 
	Section 4.7.
	 	SEC Reports	 	 	21	 
	 
	 	 	 	 	 	 
	 
	 	ARTICLE 5.	 	 	 	 
	 
	 	SUCCESSOR CORPORATION	 	 	 	 
	 
	 	 	 	 	 	 
	Section 5.1.
	 	When the Corporation May Merge,
etc.	 	 	21	 
	Section 5.2.
	 	When Securities Must Be
Secured	 	 	21	 
	 
	 	 	 	 	 	 
	 
	 	ARTICLE 6.	 	 	 	 
	 
	 	DEFAULTS AND REMEDIES	 	 	 	 
	 
	 	 	 	 	 	 
	Section 6.1.
	 	Events of Default	 	 	22	 
	Section 6.2.
	 	Acceleration	 	 	23	 
	Section 6.3.
	 	Other Remedies	 	 	23	 
	Section 6.4.
	 	Waiver of Past Defaults	 	 	23	 
	Section 6.5.
	 	Control by Majority	 	 	23	 
	Section 6.6.
	 	Limitation on Suits	 	 	24	 
	Section 6.7.
	 	Rights of Holders to Receive
Payment	 	 	24	 
	Section 6.8.
	 	Collection Suit by Trustee	 	 	24	 
	Section 6.9.
	 	Trustee May File Proofs of
Claim	 	 	24	 
	Section 6.10.
	 	Priorities	 	 	24	 
	Section 6.11.
	 	Undertaking for Costs	 	 	25	 
	 
	 	 	 	 	 	 
	 
	 	ARTICLE 7.	 	 	 	 
	 
	 	TRUSTEE	 	 	 	 
	 
	 	 	 	 	 	 
	Section 7.1.
	 	Duties of Trustee	 	 	25	 
	Section 7.2.
	 	Rights of Trustee	 	 	26	 
	Section 7.3.
	 	Individual Rights of Trustee,
etc.	 	 	26	 
	Section 7.4.
	 	Trustee’s Disclaimer	 	 	26	 
	Section 7.5.
	 	Notice of Defaults	 	 	26	 
	Section 7.6.
	 	Reports by Trustee to Holders	 	 	27	 
	Section 7.7.
	 	Compensation and Indemnity	 	 	27	 
	Section 7.8.
	 	Replacement of Trustee	 	 	27	 
	Section 7.9.
	 	Successor Trustee by Merger,
etc.	 	 	28	 
	Section 7.10.
	 	Eligibility; Disqualification	 	 	28	 
	Section 7.11.
	 	Preferential Collection of
Claims Against Corporation	 	 	29	 
	 
	 	 	 	 	 	 
	 
	 	ARTICLE 8.	 	 	 	 
	 
	 	SATISFACTION, DISCHARGE AND DEFEASANCE	 	 	 	 
	 
	 	 	 	 	 	 
	Section 8.1.
	 	Satisfaction and Discharge Under
Limited Circumstances	 	 	29	 
	Section 8.2.
	 	Satisfaction and Discharge of
Indenture	 	 	29	 
	Section 8.3.
	 	Defeasance of Certain
Obligations	 	 	31	 
	Section 8.4.
	 	Application of Trust Money	 	 	31	 
	Section 8.5.
	 	Repayment to Corporation	 	 	32	 

iv

 

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	ARTICLE 9.	 	 	 	 
	 
	 	AMENDMENTS, SUPPLEMENTS AND WAIVERS	 	 	 	 
	 
	 	 	 	 	 	 
	Section 9.1.
	 	Without Consent of Holders	 	 	32	 
	Section 9.2.
	 	With Consent of Holders	 	 	33	 
	Section 9.3.
	 	Compliance with Trust Indenture Act of 1939	 	 	33	 
	Section 9.4.
	 	Revocation and Effect of Consents	 	 	33	 
	Section 9.5.
	 	Notation on or Exchange of Securities	 	 	33	 
	Section 9.6.
	 	Trustee to Sign Amendments, etc.	 	 	34	 
	 
	 	 	 	 	 	 
	 
	 	ARTICLE 10.	 	 	 	 
	 
	 	MISCELLANEOUS	 	 	 	 
	 
	 	 	 	 	 	 
	Section 10.1.
	 	TIA Controls	 	 	34	 
	Section 10.2.
	 	Notices	 	 	34	 
	Section 10.3.
	 	Communication by Holders with Other Holders	 	 	35	 
	Section 10.4.
	 	Certificate and Opinion as to Conditions Precedent	 	 	35	 
	Section 10.5.
	 	Statements Required in Certificate or Opinion	 	 	35	 
	Section 10.6.
	 	When Treasury Securities Disregarded	 	 	35	 
	Section 10.7.
	 	Rules by Trustee, Paying Agent, Registrar	 	 	36	 
	Section 10.8.
	 	Legal Holidays	 	 	36	 
	Section 10.9.
	 	Governing Law	 	 	36	 
	Section 10.10.
	 	No Adverse Interpretation of Other Agreements	 	 	36	 
	Section 10.11.
	 	No Recourse Against Others	 	 	36	 
	Section 10.12.
	 	Securities in a Foreign Currency	 	 	36	 
	Section 10.13.
	 	Judgment Currency	 	 	36	 
	Section 10.14.
	 	Successors	 	 	37	 
	Section 10.15.
	 	Duplicate Originals	 	 	37	 
	Section 10.16.
	 	Acts of Holders; Record Dates	 	 	37	 
	Section 10.17.
	 	Force Majeure	 	 	38	 

			
		 	Note: This Table of Contents shall not, for any purpose, be deemed to be a part of the Indenture.

v

 

     INDENTURE dated as of                     , 20___, between MARTIN MARIETTA MATERIALS, INC., a North
Carolina corporation (the “Corporation”), and Branch
Banking & Trust Company, a North Carolina state banking
corporation (the “Trustee”).

     Each party agrees as follows for the benefit of the other party and, as to each series of
Securities, for the equal and ratable benefit of the Holders of that series of the Corporation’s
Securities issued pursuant to this Indenture:

ARTICLE 1.

DEFINITIONS AND INCORPORATION BY REFERENCE

     Section 1.1. Definitions.

     “Agent” means any Registrar, Paying Agent or co-registrar.

     “Board of Directors” means the Board of Directors, or the Executive Committee or the Finance
Committee of the Board of Directors, of the Corporation.

     “Board Resolution” means a resolution of the Board of Directors or of a committee or person to
which or to whom the Board of Directors has properly delegated the appropriate authority, a copy of
which has been certified by the Secretary or an Assistant Secretary of the Corporation, to have
been duly adopted by the Board of Directors and to be in full force and effect on the date of such
certification and delivered to the Trustee.

     “Corporation” means the party named as such in this Indenture until a successor replaces it
and thereafter means the successor.

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

     “Depositary” means, with respect to the Securities of any series issuable or issued in whole
or in part in the form of one or more Global Securities, The Depository Trust Company or such other
party as may be designated as Depositary by the Corporation pursuant to Section 2.3, until a
successor Depositary shall have become such pursuant to the applicable provisions hereof, and
thereafter “Depositary” shall mean or include each party who is then a Depositary hereunder, and if
at any time there is more than one such party, “Depositary” as used in respect of the Securities on
any such series shall mean the Depositary with respect to the Securities of that series.

     “Discounted Security” means any Security which provides for an amount (excluding any amounts
attributable to accrued but unpaid interest) less than its principal amount to be due and payable
upon a declaration of acceleration of the maturity of the Security pursuant to Section 6.2.

     “Exchange Act” means the Securities Exchange Act of 1934, as it may be amended from time to
time.

 

 

     “Foreign Currency” means a currency issued by the government of any country other than the
United States of America.

     “Global Security” means a Security evidencing all or a part of a series of Securities, issued
to the Depositary for such series in accordance with Section 2.1, and bearing the legend prescribed
in Section 2.1.

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

     “Indenture” means this Indenture as amended or supplemented from time to time.

     “Market Exchange Rate” for any currency means, as appropriate, the noon U.S. dollar buying
rate or selling rate for that currency for cable transfers quoted in the City of New York on the
applicable date as certified for customs purposes by the Federal Reserve Bank of New York. If for
any reason such rates are not available for one or more currencies for which a Market Exchange Rate
is required, the Trustee shall use: (i) the quotation of the Federal Reserve Bank of New York as
of the most recent available date, (ii) quotations from one or more major banks in the City of New
York or in the country of issue of the currency in question, or (iii) such other quotations as the
Trustee shall deem appropriate. Unless otherwise specified by the Trustee, if there is more than
one market for dealing in any currency by reason of foreign exchange regulations or otherwise, the
market to be used is that in which a nonresident issuer of securities designated in that currency
would purchase that currency in order to make payments on those securities. All decisions and
determinations of the Trustee regarding the Market Exchange Rate shall be in its sole discretion
and shall, in the absence of manifest error, be conclusive for all purposes and irrevocably binding
upon the Corporation and all holders.

     “Officer” means the Chairman of the Board, the Chief Executive Officer, the President, any
Vice President, the Treasurer or the Secretary of the Corporation.

     “Officers’ Certificate” means the certificate signed by two Officers or by an Officer and an
Assistant Treasurer or Assistant Secretary of the Corporation.

     “Opinion of Counsel” means a written opinion from legal counsel who is acceptable to the
Trustee. The counsel may be an employee of or counsel to the Corporation.

     “principal” of a Security means the principal of the Security plus, when appropriate, the
premium, if any, on the Security.

     “SEC” means the Securities and Exchange Commission.

     “Securities” means the securities issued pursuant to this Indenture from time to time, as such
securities may be amended or supplemented from time to time.

     “Series” when used with respect to the Securities means all Securities bearing the same title
and authorized by the same Board Resolution or indenture supplemental hereto.

2

 

     “TIA” means the Trust Indenture Act of 1939, as in effect (unless otherwise stated herein) on
the date of this Indenture.

     “Trustee” means the party named as such in this Indenture until a successor replaces it and
thereafter means the successor. The term “Trustee” includes any additional Trustee appointed
pursuant to Section 2.3 or Section 7.8 but, if at any time there is more than one Trustee, the term
“Trustee” as used with respect to Securities of any series shall mean the Trustee with respect to
Securities of that series.

     “Trust Officer” means a Vice President or any other officer or assistant officer of the
Trustee assigned by the Trustee to administer its corporate trust matters.

     Section
1.2. Other Definitions.

	 	 	 	 	 
	 	 	Defined in	 
	Term	 	Section	 
	“Act”
	 	 	10.16	 
	“Attributable Debt”
	 	 	4.1	 
	“Bankruptcy Law”
	 	 	6.1	 
	“Capital Expenditures”
	 	 	4.1	 
	“Consolidated Net Tangible Assets”
	 	 	4.1	 
	“Custodian”
	 	 	6.1	 
	“Debt”
	 	 	4.1	 
	“Event of Default”
	 	 	6.1	 
	“Judgment Date”
	 	 	10.13	 
	“Legal Holiday”
	 	 	10.8	 
	“Lien”
	 	 	4.1	 
	“Long-Term Debt”
	 	 	4.1	 
	“Paying Agent”
	 	 	2.4	 
	“Principal Property”
	 	 	4.1	 
	“Registrar”
	 	 	2.4	 
	“Restricted Property”
	 	 	4.1	 
	“Restricted Subsidiary”
	 	 	4.1	 
	“Sale-Leaseback Transaction”
	 	 	4.1	 
	“Subsidiary”
	 	 	4.1	 
	“Substitute Date”
	 	 	10.13	 
	“United States”
	 	 	4.1	 
	“U.S. Government Obligations”
	 	 	8.2	 
	“Voting Stock”
	 	 	4.1	 

     Section 1.3. Incorporation by Reference of TIA. Whenever this Indenture refers to a provision
of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The
following TIA terms used in this Indenture have the following meanings:

     “Commission” means the SEC.

3

 

     “indenture securities” means the Securities.

     “indenture security holder” means a Securityholder.

     “indenture to be qualified” means this Indenture.

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

     “obligor” on the indenture securities means the Corporation.

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

     Section 1.4. Rules of Construction. Unless the context otherwise requires:

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

          (2) an accounting term not otherwise defined has the meaning assigned to it in
accordance with generally accepted accounting principles in effect from time to time unless
a different time is established in the applicable series of Securities;

          (3) “or” is not exclusive;

          (4) words in the singular include the plural, and in the plural include the singular;

          (5) any gender used in this Indenture shall be deemed to include the neuter, masculine
or feminine gender; and

          (6) provisions apply to successive events and transactions.

ARTICLE 2.

THE SECURITIES

     Section 2.1. Form and Dating. The Securities shall be issued substantially in the form or
forms (including global form) as shall be established by or pursuant to a Board Resolution or
Resolutions or any indenture supplemental hereto, in each case with such appropriate insertions,
omissions, substitutions or other variations as are required or permitted by this Indenture. The
Securities may have notations, legends or endorsements required by law, stock exchange rule or
usage. Each Security shall be dated the date of its authentication.

     Notwithstanding the foregoing, if any Security of a series is issuable in the form of a Global
Security or securities, each such Global Security may provide that it shall represent the aggregate
amount of Securities outstanding under the series from time to time endorsed thereon and also may
provide that the aggregate amount of Securities outstanding under the series represented thereby
may from time to time be reduced to reflect exchanges. Any endorsement of a Global Security to
reflect the amount of Securities outstanding under the series represented

4

 

thereby shall be made by the Trustee in accordance with the instructions of the Corporation
and in such manner as shall be specified on such Global Security. Any instructions by the
Corporation with respect to a Global Security, after its initial issuance, shall be in writing but
need not comply with Section 10.4.

     Before the first delivery of a Security of any series to the Trustee for authentication, the
Corporation shall deliver to the Trustee the following:

          (1) the Board Resolution by or pursuant to which the forms and terms of the Security
have been approved;

          (2) an Officers’ Certificate of the Corporation dated the date of delivery stating that
all conditions precedent provided for in this Indenture relating to the authentication and
delivery of Securities in that series have been complied with and directing the Trustee to
authenticate and deliver the Securities to or upon written order of the Corporation; and

          (3) an Opinion of Counsel stating that all conditions precedent provided for in this
Indenture relating to the authentication and delivery of Securities of that series have been
complied with, the form and terms of the series have been established by or pursuant to a
Board Resolution or Resolutions in conformity with this Indenture, and that Securities in
such form when completed by appropriate insertions and executed by the Corporation and
delivered by the Corporation to the Trustee for authentication in accordance with this
Indenture, authenticated and delivered by the Trustee in accordance with this Indenture
within the authorization as to aggregate principal amount established from time to time by
the Board of Directors and sold in the manner specified in such Opinion of Counsel will be
the legal, valid and binding obligations of the Corporation entitled to the benefits of this
Indenture, subject to applicable bankruptcy, reorganization, insolvency and other similar
laws generally affecting creditors rights and to general equity principles, and to such
other qualifications as such counsel shall conclude do not materially affect the rights of
Holders of Securities of that series or that are customarily included in similar opinions by
lawyers experienced in such matters.

     Notwithstanding the foregoing, if the Corporation shall establish pursuant to Section 2.3 that
the Securities of a series are to be issued in whole or in part in the form of one or more Global
Securities, then the Corporation shall execute and the Trustee shall, in accordance with this
Section, Section 2.2 and the authentication order of the Corporation with respect to such series,
authenticate and deliver one or more Global Securities in temporary or permanent form that shall
(a) represent and be denominated in an aggregate amount equal to the aggregate principal amount of
the Securities of such series to be represented by one or more Global Securities, (b) be registered
in the name of the Depositary for such Global Security or Global Securities or the nominee of such
Depositary, (c) be delivered by the Trustee to such Depositary or pursuant to such Depositary’s
instruction, and (d) bear a legend substantially to the following effect: “Unless and until it is
exchanged in whole or in part for Securities in definitive form, this Security may not be
transferred except as a whole by the Depositary to a nominee of the Depositary or by a nominee of
the Depositary to the Depositary or another nominee of the

5

 

Depositary or by the Depositary or any nominee to a successor Depositary or a nominee of any
successor Depositary.”

     Section 2.2. Execution and Authentication. Two Officers shall sign the Securities for the
Corporation by manual or facsimile signature. The Corporation’s seal shall be impressed, affixed,
imprinted or reproduced on the Securities. Securities shall be dated the date of their
authentication.

     If an Officer whose signature is on a Security no longer holds that office at the time the
Trustee authenticates the Security, the Security shall be valid nevertheless.

     A Security shall not be valid until the Trustee manually signs the certificate of
authentication on the Security. The signature shall be conclusive evidence that the Security has
been authenticated under this Indenture.

     Notwithstanding the provisions of Section 2.3 and of the preceding paragraphs, if all
Securities of a series are not to be originally issued at one time (including, for example, a
series constituting a medium-term note program), it shall not be necessary to deliver the Officers’
Certificate otherwise required pursuant to Section 2.1 or the Opinion of Counsel otherwise required
pursuant to such preceding paragraphs at or prior to the time of authentication of each Security of
such series if such documents are delivered at or prior to the time of authentication upon original
issuance of the first Security of such series. In such case the Trustee may conclusively rely on
the foregoing documents and opinions delivered pursuant to Section 2.1 and Section 2.3, and this
Section, as applicable (unless revoked by superseding comparable documents or opinions), as to the
matters set forth therein.

     Notwithstanding the foregoing, if any Security shall have been duly authenticated and
delivered hereunder but never issued and sold by the Corporation, and the Corporation shall deliver
such Security to the Trustee for cancellation as provided in Section 2.11 together with a written
statement (which need not comply with Section 2.1 and need not be accompanied by an Opinion of
Counsel) stating that such Security has never been issued and sold by the Corporation, for all
purposes of this Indenture such Security shall be deemed never to have been authenticated and
delivered hereunder and shall never be entitled to the benefits of this Indenture.

     If any Security of a series shall be represented by a Global Security, then, for purposes of
this Section and Section 2.10, the notation of the record owners’ interest therein upon original
issuance of such Security shall be deemed to be delivery in connection with the original issuance
of each beneficial owner’s interest in such Global Security.

     The Trustee’s certificate of authentication on all Securities shall be in substantially the
following form:

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

			
	Date :
	 	[                    ], as Trustee

6

 

	 	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Authorized Officer

     If at any time there shall be an Authenticating Agent appointed with respect to any series of
Securities, then the Trustee’s certificate of authentication to be borne by the Securities of each
such series shall be substantially as follows:

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

	 	 	 	 	 
	 	 	[                    ], as Trustee
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 	 	as Authenticating Agent
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Authorized Officer

     The Trustee may appoint an authenticating agent acceptable to the Corporation to authenticate
Securities. An authenticating agent may authenticate Securities whenever the Trustee may do so.
Each reference in this Indenture to authentication by the trustee includes authentication by such
Agent. An authenticating agent has the same rights as an Agent to deal with the Corporation.

     Section 2.3. Title, Amount and Terms of Securities. The principal amount of Securities that
may be authenticated and delivered and outstanding under this Indenture is not limited. The
Securities may be issued in a total principal amount up to that authorized from time to time by or
pursuant to relevant Board Resolutions or established in one or more indentures supplemental
hereto.

     The Securities may be issued in one or more series, each of which shall be issued pursuant to
a Board Resolution or Resolutions of the Corporation, or established in one or more indentures
supplemental hereto, which shall specify:

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

          (2) any limit on the aggregate principal amount of the Securities of that series that
may be authenticated and delivered under this Indenture (except for Securities authenticated
and delivered upon registration or transfer of, in exchange for or in lieu of other
Securities of that series pursuant to Section 2.7, 2.8 or 3.7);

          (3) the date or dates (or manner of determining the same) on which the principal of the
Securities of that series is payable;

          (4) the rate or rates, or the method to be used in ascertaining the rate or rates
(which may be fixed or variable), at which the Securities of that series shall bear interest
(if any), the basis upon which interest shall be calculated if other than that of a 360-day

7

 

year of 12 30-day months, the date or dates from which such interest shall accrue, the
interest payment dates on which such interest shall be payable and the record date for the
interest payable on any interest payment date;

          (5) if the trustee of that series is other than the Trustee initially named in this
Indenture or any successor thereto, the trustee of that series;

          (6) the place or places where the principal of and interest, if any, on Securities of
that series shall be payable;

          (7) the period or periods within which, the price or prices at which and the terms and
conditions on which Securities of that series may be redeemed, in whole or in part, at the
option of the Corporation;

          (8) the obligation, if any, of the Corporation to redeem or purchase Securities of that
series pursuant to any sinking fund or analogous provisions or at the option of Holders of
Securities of that series, and the period or periods within which, the price or prices at
which and the terms and conditions upon which Securities of that series shall be redeemed or
purchased, in whole or in part, pursuant to such obligation;

          (9) if denominated in U.S. dollars, and in denominations other than denominations of
$1,000 and any multiple of $1,000, the denominations in which Securities of that series
shall be issuable;

          (10) if denominated in other than U.S. dollars, the currency or currencies, including
composite currencies, in which the Securities of that series are denominated, and the
denominations in which Securities of that series shall be issuable;

          (11) if other than the currency in which the Securities of that series are denominated,
the currency or currencies, including composite currencies, in which payment of the
principal of and interest, if any, on Securities of that series shall be payable;

          (12) if the amount of payments of the principal of and interest, if any, on the
Securities of that series may be determined with reference to an index based on a currency
or currencies other than that in which the Securities of that series are denominated, the
manner in which such amounts shall be determined;

          (13) if other than the full principal amount, the portion of the principal amount of
Securities of that series which shall be payable upon a declaration of acceleration of the
maturity pursuant to Section 6.2;

          (14) if convertible into Securities of another series, or shares of capital stock of
the Corporation, the terms upon which the Securities of that series will be convertible into
Securities of such other series or shares of capital stock of the Corporation;

          (15) the right, if any, of the Corporation to redeem all or any part of the Securities
of that series before maturity and the period or periods within which, the price

8

 

or prices at which and the terms and conditions upon which Securities of that series
may be redeemed;

          (16) the provisions, if any, restricting defeasance of the Securities of that series;

          (17) if other than or in addition to the events specified in Section 6.1, events of
default with respect to the Securities of that series;

          (18) if the Securities of that series are to be issued in whole or in part in the form
of one or more Global Securities, the Depositary for such Global Security or Global
Securities if other than The Depository Trust Company, New York, New York and whether
beneficial owners of interests in any such Global Securities may exchange such interests for
other Securities of such series in the manner provided in Section 2.7, and the manner and
the circumstances under which and the place or places where any such exchanges may occur if
other than in the manner provided in Section 2.7, and any other terms of the series relating
to the global nature of the Securities of such series and the exchange, registration or
transfer thereof and the payment of any principal thereof or interest, if any, thereon;

          (19) any other terms of or relating to the Securities of that series (which terms shall
not be inconsistent with the provisions of this Indenture); and

          (20) the form of any notice to be delivered to the Trustee with respect to any such
Security.

     All Securities of any particular series shall be identical as to currency of denomination and
otherwise shall be substantially identical except as to denomination and except as may otherwise be
provided in or pursuant to the relevant Board Resolution or Resolutions or indentures supplemental
hereto. All Securities of any particular series need not be issued at the same time and, unless
otherwise provided, a series may be reopened, without the consent of the Holders, for issuances of
additional Securities of that series, unless otherwise specified in Board Resolutions or one or
more indentures supplemental hereto.

     The Trustee need not authenticate the Securities in any series if their terms impose on the
Trustee duties in addition to those imposed on the Trustee by this Indenture. If the Trustee does
authenticate any such Securities, the authentication will evidence the Trustee’s agreement to
comply with any such additional duties.

     Each Depositary for a Global Security in registered form shall, if required, at the time of
its designation and at all times while it serves as a Depositary, be a clearing agency registered
under the Exchange Act and any other applicable statute or regulation.

     Section 2.4. Registrar and Paying Agent. The Corporation shall maintain an office or agency
where Securities may be presented for registration of transfer or for exchange (“Registrar”) and an
office or agency where Securities may be presented for payment (“Paying Agent”). The Registrar
shall keep a register of the Securities and of their transfer and exchange. The Corporation may
have one or more co-registrars and one or more additional paying agents.

9

 

The term “Paying Agent” includes any additional paying agent. There may be separate
Registrars and Paying Agents for different series of Securities.

     The Corporation shall enter into an appropriate agency agreement with any Registrar, Paying
Agent or co-registrar not a party to this Indenture. The agreements shall implement the provisions
of this Indenture that relate to such Agent. The Corporation shall notify the Trustee of the name
and address of any such Agent. If the Corporation fails to maintain a Registrar or Paying Agent,
the Trustee shall act as such.

     The Corporation initially appoints the Trustee as Registrar and Paying Agent.

     Section 2.5. Paying Agent to Hold Money in Trust. Each Paying Agent for any series of
Securities shall hold in trust for the benefit of Holders of Securities of the same series or the
Trustee all money held by the Paying Agent for the payment of principal of or interest on such
Securities and shall notify the Trustee of any default by the Corporation in making such payment.
If the Corporation or a Subsidiary acts as Paying Agent with respect to a series of Securities, it
shall segregate the money for that series and hold it as a separate trust fund. The Corporation at
any time may require a Paying Agent to pay all money held by it to the Trustee. Upon doing so the
Paying Agent shall have no further liability for the money.

     Section 2.6. Securityholder Lists. For each series of Securities, the Trustee shall preserve
in as current a form as is reasonably practicable the most recent list available to it of the names
and addresses of Holders of Securities of that series. If the Trustee is not the Registrar, the
Corporation shall furnish or cause to be furnished to the Trustee on or before each interest
payment date for each series of Securities and at such other times as the Trustee may request in
writing a list in such form and as of such date as the Trustee may reasonably require of the names
and addresses of Holders of Securities of that series.

     Section 2.7. Transfer and Exchange. Where a Security (other than a Global Security except as
set forth herein) is presented to the Registrar or a co-registrar with a request to register a
transfer, the Registrar shall register the transfer as requested. Where Securities
(other than a Global Security except as set forth herein) of any series are presented to the
Registrar or a co-registrar with a request to exchange them for an equal principal amount of
Securities of other denominations of the same series with identical terms as the Securities
exchanged, the Registrar shall make the exchange as requested if the same requirements are met. To
permit transfers and exchanges, the Trustee shall authenticate Securities at the Registrar’s
request. No service charge shall be made for any registration of transfer or exchange of
Securities, but the Company may require payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any registration of transfer or exchange
of Securities, other than exchanges pursuant to Section 2.10, 3.7 or 9.5 not involving any
transfer. The Corporation shall not be required to make transfers or exchanges of Securities of
any series for a period of 15 days before a selection of Securities of the same series to be
redeemed or before an interest payment.

     Notwithstanding any other provision of this Section, unless and until it is exchanged in whole
or in part for Securities in definitive form, a Global Security representing all or a portion

10

 

of the Securities of a series may not be transferred except as a whole by the Depositary for
such series to a nominee of such Depositary or by a nominee of such Depositary to such Depositary
or another nominee of such Depositary or by such Depositary or any such nominee to a successor
Depositary for such series or a nominee of such successor Depositary.

     None of the Corporation, the Trustee, the Paying Agent, the Registrar or any co-registrar
shall have any responsibility or liability for any aspect of the records relating to or payments
made on account of beneficial ownership interests of a Global Security or for maintaining,
supervising or reviewing any records relating to such beneficial ownership interests.

     If at any time the Depositary for the Securities of a series notifies the Corporation that it
is unwilling or unable to continue as Depositary for the Securities of such series or if at any
time the Depositary for the Securities of such series shall no longer be eligible under Section
2.3, the Corporation shall appoint a successor Depositary with respect to the Securities of such
series. If a successor Depositary for the Securities of such series is not appointed by the
Corporation within 90 days after the Corporation receives such notice or becomes aware of such
ineligibility, the Corporation’s election pursuant to Section 2.3(18) shall no longer be effective
with respect to the Securities of such series and the Corporation will execute, and the Trustee,
upon receipt of an order of the Corporation for the authentication and delivery of definitive
Securities of such series, will authenticate and deliver Securities of such series in definitive
form in the Global Security or Securities representing such series in exchange for such Global
Security or Securities.

     The Corporation may at any time and in its sole discretion determine that the Securities of
any series issued in the form of one or more Global Securities shall no longer be represented by
such Global Security or Securities. In such event the Corporation will execute, and the Trustee,
upon receipt of an order of the Corporation for the authentication and delivery of definitive
Securities of such series, will authenticate and deliver Securities of such series in definitive
form in an aggregate principal amount equal to the principal amount of the Global Security or
Securities representing such series in exchange for such Global Security or Securities.

     If specified by the Corporation pursuant to Section 2.3 with respect to a series of
Securities, the Depositary for such series of Securities may surrender a Global Security for such
series of Securities in exchange in whole or in part for the Securities of such series in
definitive form on such terms as are acceptable to the Corporation and such Depositary. Thereupon,
the Corporation shall execute, and the Trustee shall authenticate and deliver:

          (1) to each party specified by such Depositary a new Security or Securities of the same
series, of any authorized denomination as requested by such party in aggregate principal
amount equal to and in exchange for such party’s beneficial interest in the Global Security;
and

          (2) to such Depositary a new Global Security in a denomination equal to the difference,
if any, between the principal amount of the surrendered Global Security and the aggregate
principal amount of Securities delivered to Holders thereof.

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     Upon the exchange of the Global Security for Securities in definitive form, such Global
Security shall be canceled by the Trustee. Securities issued in exchange for a Global Security
pursuant to this Section 2.7 shall be registered in such names and in such authorized denominations
as the Depositary for such Global Security, pursuant to instructions from its direct or indirect
participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities
to the parties in whose names such Securities are so registered.

     Section 2.8. Replacement Securities. If the Holder of a Security claims that the Security has
been mutilated, destroyed, lost or stolen, the Corporation may issue and the Trustee shall
authenticate a replacement Security of the same series with identical terms as the Securities
exchanged. Such holder shall furnish an indemnity bond sufficient in the judgment of
the Corporation and the Trustee to protect the Corporation, the Trustee, the Paying Agent, the
Registrar and any co-registrar from any loss which any of them may suffer if a Security is
replaced. The Corporation and the Trustee may charge for their expenses in replacing a Security.

     In case any such mutilated, destroyed, lost or stolen Security has become due and payable, the
Corporation in its discretion may, instead of issuing a new Security, pay such Security (without
surrender thereof except in the case of a mutilated Security) if the applicant for such payment
shall furnish to the Corporation, the Trustee, the Paying Agent, the Registrar and any co-registrar
for such Security such security or indemnity as may be required by them to hold each of them
harmless, and in case of destruction, loss or theft, evidence satisfactory to the Corporation, the
Trustee, the Paying Agent, the Registrar and any co-registrar, and any agent of any of them, of the
destruction, loss or theft of such Security and the ownership thereof.

     Upon the issuance of any new Security under this Section 2.8, the Corporation may require the
payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto and any other expenses (including all fees and expenses of the Trustee, the Paying
Agent, the Registrar and any co-registrar for such Security) connected therewith.

     Every new Security of any series issued pursuant to this Section 2.8 in lieu of any destroyed,
lost or stolen Security or in exchange for any mutilated Security, shall constitute an original
additional obligation of the Corporation, whether or not the destroyed, lost or stolen Security
shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this
Indenture equally and proportionately with any and all other Securities of the same series.

     The provisions of this Section 2.8 are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost
or stolen Securities.

     Section 2.9. Outstanding Securities. Securities outstanding at any time are all Securities
authenticated by the Trustee (and, in the case of Global Securities endorsed by the Trustee) except
for those canceled by it, those delivered to it for cancellation and those described in this
Section as not outstanding. A Security does not cease to be outstanding because the Corporation or
an affiliate of the Corporation holds the Security.

12

 

     If a Security is replaced pursuant to Section 2.8, it ceases to be outstanding unless the
Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide
purchaser.

     If the Paying Agent holds on a redemption date or maturity date money sufficient to pay
Securities payable on that date, then on and after that date such Securities cease to be
outstanding and interest on them ceases to accrue.

     If
a Security is redeemed (or as to which the full redemption price has
been deposited with the Trustee on the applicable Redemption Date), the Corporation and the Trustee need not treat the
Security as outstanding in determining whether Holders of the required principal amount of
Securities have concurred in any direction, waiver or consent.

     Section 2.10. Temporary Securities. Until definitive Securities of any series are ready for
delivery or a permanent Global Security or Securities are prepared, as the case may be, the
Corporation may prepare and the Trustee shall authenticate temporary Securities or one or more
temporary Global Securities, as the case may be, of the same series in accordance with the terms
and conditions of this Indenture. Temporary Securities of any series shall be substantially in the
form of definitive Securities or permanent Global Securities, as the case may be, of the same
series, but may have variations that the Corporation considers appropriate for temporary
Securities. Without unreasonable delay, the Corporation shall prepare and the Trustee shall
authenticate definitive Securities or a permanent Global Security or Securities, as the case may
be, of the same series in exchange for temporary Securities. Until so exchanged, the temporary
Securities of any series shall be entitled to the same benefits under this Indenture as definitive
Securities or permanent Global Securities of such series.

     Section 2.11. Cancellation. The Corporation at any time may deliver Securities to the Trustee
for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities
surrendered to them for transfer, exchange or payment. Upon the Corporation’s request, the Trustee
and no one else shall cancel or destroy all Securities surrendered for transfer, exchange, payment
or cancellation, and shall so certify to the Corporation. The Corporation may not issue new
Securities to replace Securities it has paid or delivered to the Trustee for cancellation.

     Section 2.12. Defaulted Interest. If the Corporation defaults in a payment of interest on any
Securities of any series, it shall pay the defaulted interest to the persons who are Holders of
those Securities on a subsequent special record date. The Corporation shall fix the special record
date and payment date at least 15 days before the special record date, the Corporation shall mail
to each Holder of Securities of that series a notice that states the special record date, the
payment date and the amount of defaulted interest to be paid. The Corporation may pay defaulted
interest in any other lawful manner.

     Section 2.13. Payment in Currencies. (a) Payment of the principal of and interest, if any, on
the Securities shall be made in the currency or currencies specified below:

          (1) for Securities of a series denominated in U.S. dollars, payment shall be made in
U.S. dollars; and

13

 

          (2) for Securities of a series denominated in a Foreign Currency, payment shall be made
in that Foreign Currency unless the Holder of a Security of that series elects to receive
payment in U.S. dollars and such election is permitted by the Board Resolution or
Resolutions or indentures supplemental hereto adopted pursuant to Section 2.3 in respect of
that series.

A Holder may make the election referred to in clause (2) above by delivering to the Trustee a
written notice of election substantially in the form contemplated by the Board Resolution or
Resolutions or indentures supplemental hereto adopted pursuant to Section 2.3 or in any other form
acceptable to the Trustee. For any payment, a notice of election will not be effective unless it
is received by the Trustee not later than the close of business on the applicable record date. An
election shall remain in effect until the Holder delivers to the Trustee a written notice
specifying a change in the currency in which payment is to be made. No change in currency may be
made for payments to be made on Securities of a series for which notice of redemption has been
given pursuant to Article 3 or as to which the Corporation has accomplished a satisfaction,
discharge or defeasance pursuant to Section 8.1, 8.2 or 8.3.

     (b) The Trustee shall deliver to the Corporation, not later than the fourth business day after
each record date for payment on Securities of a series denominated in a Foreign Currency, a written
notice specifying, in the currency in which the Securities of that series are denominated, the
aggregate amount of the principal of and interest, if any, on Securities of that series to be paid
on the payment date. If at least one Holder has made the election referred to in clause (2) of
paragraph (a) of this Section, the written notice shall also specify, in each currency elected, the
amount of principal of and interest, if any, to be paid in that currency on the payment date.

     (c) The amount payable to Holders of Securities of a series denominated in a Foreign Currency
who have elected to receive payment in U.S. dollars shall be determined by the Trustee on the basis
of the Market Exchange Rate in effect on the record date.

     (d) If the Foreign Currency in which a series of Securities is denominated ceases to be used
both by the government of the country that issued such currency and for the settlement of
transactions by public institutions of or within the international banking community, then for each
payment date on Securities of that series occurring after the last date on which the Foreign
Currency was so used, all payments on Securities of that series shall be made in U.S. dollars. If
payment is to be made in U.S. dollars to the Holders of Securities of any such series pursuant to
the preceding sentence, then the amount to be paid in U.S. dollars on a payment date by the
Corporation to the Trustee and by the Trustee or any Paying Agent to Securityholders shall be
determined by the Trustee as of the applicable record date and shall be equal to the sum obtained
by converting the specified Foreign Currency into U.S. dollars at the Market Exchange Rate on the
last record date on which such Foreign Currency was so used in either such capacity.

     (e) All decisions and determinations of the Trustee regarding the amount payable in accordance
with paragraph (c) of this Section, conversion of Foreign Currency into U.S. dollars pursuant to
paragraph (d) of this Section or the Market Exchange Rate shall, in the absence of manifest error,
be conclusive for all purposes and irrevocably binding upon the Corporation and all
Securityholders. If a Foreign Currency in which payment on Securities of a series may be made
pursuant to paragraph (a) of this Section ceases to be used both by the government of the

14

 

country that issued such currency and for the settlement of transactions by public
institutions of or within the international banking community, the Corporation shall give notice to
the Trustee and mail notice by first-class mail to each Holder of Securities of that series
specifying the last date on which the Foreign Currency was used for the payment of principal of or
interest, if any, on Securities of that series.

     Section 2.14. CUSIP Numbers. The Corporation in issuing the Securities may use “CUSIP”
numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of
redemption as a convenience to Holders; provided that any such notice may state that no
representation is made as to the correctness of such numbers either as printed on the Securities or
as contained in any notice of a redemption and that reliance may be placed only on the other
identification numbers printed on the Securities, and any such redemption shall not be affected by
any defect in or omission of such numbers.

ARTICLE 3.

REDEMPTION

     Section 3.1. Applicability of this Article. Securities of any series that are redeemable
prior to their maturity shall be redeemable in accordance with their terms (except as otherwise
specified in this Indenture for Securities of any series) and in accordance with this Article 3.

     Section 3.2. Notices to Trustee. If the Corporation wants to redeem any Securities, it shall
notify the Trustee of the redemption date and the principal amount of Securities to be redeemed in
accordance with the terms of the Securities. If the redemption is of less than all the outstanding
Securities of a series, the Corporation shall furnish to the Trustee a written statement signed by
an Officer of the Corporation stating that with respect to that series there exists no Event of
Default and no circumstance which, after notice or the passage of time or both, would constitute an
Event of Default. The Corporation shall give the notice provided for in this Section at least 50
days before the redemption date.

     Section 3.3. Selection of Securities to be Redeemed. If, at the option of the Corporation,
less than all the Securities of a series are to be redeemed, the Trustee shall select the
Securities of such series to be redeemed by a method the Trustee considers fair and appropriate,
subject to any applicable stock exchange requirements. The Trustee shall make the selection from
outstanding Securities of such series not previously called for redemption. The Trustee may select
for redemption portions of the principal of Securities that have a denomination larger than $1,000
(or the applicable minimum denomination for such Securities in the event the Securities are payable
in a Foreign Currency or Currencies), Securities and portions of them it selects shall be in
amounts of $1,000 (or the applicable minimum denomination for such Securities in the event the
Securities are payable in a Foreign Currency or Currencies) or a multiple of $1,000 (or the
applicable minimum denomination for such Securities in the event the Securities are payable in a
Foreign Currency or Currencies). Provisions of this Indenture that apply to Securities called for
redemption also apply to portions of Securities called for redemption.

15

 

     The Trustee for the Securities of any series to be redeemed shall promptly notify the
Corporation in writing of the Securities of such series selected for redemption and, in the case of
any Securities selected for partial redemption, the principal amount thereof to be redeemed.

     For all purposes of this Indenture, unless the context otherwise requires, all provisions
relating to the redemption of Securities shall relate, in the case of any Security redeemed or to
be redeemed only in part, to the portion of the principal amount of such Securities which has been
or is to be redeemed.

     Section 3.4. Notice of Redemption. At least 30 days but not more than 60 days before a date
of redemption of Securities at the option of the Corporation, the Corporation shall mail a notice
of redemption by first-class mail to each Holder of Securities to be redeemed.

     The notice shall identify the Securities to be redeemed and shall state:

          (1) the redemption date;

          (2) the redemption price;

          (3) the name and address of the Paying Agent;

          (4) that Securities called for redemption must be surrendered to the Paying Agent to
collect the redemption price;

          (5) that interest on Securities called for redemption ceases to accrue on and after the
redemption date; and

          (6) the CUSIP number for the Securities called for redemption.

     At the Corporation’s request, the Trustee shall give the notice of redemption in the
Corporation’s name and at its expense. In such event the Corporation will provide the Trustee with
the information required by clauses (1) through (5).

     Section 3.5. Effect of Notice of Redemption. Once notice of redemption is mailed, Securities
called for redemption become due and payable on the redemption date and at the redemption price
stated in the notice. Upon surrender to the Paying Agent, such Securities shall be paid at the
redemption price stated in the notice, plus accrued interest to the redemption date; provided,
however, that any regular payment of interest becoming due on the redemption date shall be payable
to the Holder of any such Security being redeemed as provided in the Security.

     Section 3.6. Deposit of Redemption Price. By the opening of business on the redemption date,
the Corporation shall deposit with the Paying Agent money sufficient to pay the redemption price of
and accrued interest on all Securities to be redeemed on that date.

     Section 3.7. Securities Redeemed in Part. Upon surrender of a Security that is redeemed in
part, the Trustee shall authenticate for the Holder a new Security equal in principal amount to the
unredeemed portion of the Security surrendered.

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ARTICLE 4.

COVENANTS

     Section 4.1. Certain Definitions. “Attributable Debt” for a lease means the carrying value of
the capitalized rental obligation determined under generally accepted accounting principles whether
or not such obligation is required to be shown on the balance sheet as a long-term liability. The
carrying value may be reduced by the capitalized value of the rental obligations, calculated on the
same basis, that any sublessee has for all or part of the same property. A lease obligation shall
be counted only once even if the Corporation and one or more of its Subsidiaries may be responsible
for the obligation.

     “Capital Expenditures” means, for any period, any expenditures of the Corporation or its
Subsidiaries during such period that, in conformity with generally accepted accounting principles
consistently applied, are required to be included in fixed asset accounts on the consolidated
balance sheet of the Corporation and its Subsidiaries.

     “Consolidated Net Tangible Assets” means total assets less (1) total current liabilities
(excluding any Debt which, at the option of the borrower, is renewable or extendable to a term
exceeding 12 months and which is included in current liabilities and further excluding any deferred
income taxes which are included in current liabilities) and (2) goodwill, patents and trademarks,
all as reflected in the Corporation’s most recent publicly available consolidated balance sheet
preceding the date of a determination under Section 4.3(11).

     “Debt” means any debt for borrowed money which would appear on the balance sheet as a
liability or any guarantee of such a debt and includes purchase money obligations. A Debt shall be
counted only once even if the Corporation and one or more of its Subsidiaries may be responsible
for the obligation.

     “Lien” means any mortgage, pledge, security interest or lien.

     “Long-Term Debt” means Debt that by its terms matures on a date more than 12 months after the
date it was created or Debt that the obligor may extend or renew without the obligee’s consent to a
date more than 12 months after the Debt was created.

     “Principal Property” means, as to any particular series of Securities, any mining and
quarrying or manufacturing facility located in the United States and owned by the Corporation or by
one or more Restricted Subsidiaries from the date Securities of that series are first issued and
which has, as of the date the Lien is incurred, a net book value (after deduction of depreciation
and other similar charges) greater than 3% of Consolidated Net Tangible Assets, except (1) any such
facility or property which is financed by obligations of any State, political subdivision of any
State or the District of Columbia under terms which permit the interest payable to the holders of
the obligations to be excluded from gross income as a result of the plant, facility or property
satisfying the conditions of Section 103(b)(4)(C) , (D) (E), (F) or (H) or Section 103(b)(6) of the
Internal Revenue Code of 1954 or of Section 142(a) or Section 144 (a) of the Internal Revenue Code
of 1986, or of any successors to such provisions, or (2) any such facility or property which, in
the opinion of the Board of Directors of the Corporation, is not of material

17

 

importance to the total business conducted by the Corporation and its Subsidiaries taken as a
whole. However, the chief executive officer or chief financial officer of the Corporation may at
any time declare any mining and quarrying or manufacturing facility or other property to be a
Principal Property by delivering a certificate to that effect to the Trustee.

     “Restricted Property” means, as to any particular series of Securities, any Principal
Property, any Debt of a Restricted Subsidiary owned by the Corporation or a Restricted Subsidiary
on the date Securities of that series are first issued or secured by a Principal Property
(including any property received upon a conversion or exchange of such debt), or any shares of
stock of a Restricted Subsidiary owned by the Corporation or a Restricted Subsidiary (including any
property or shares received upon a conversion, stock split or other distribution with respect to
the ownership of such stock).

     “Restricted Subsidiary” means a Subsidiary that has substantially all its assets located in,
or carries on substantially all its business in, the United States and that owns a Principal
Property. Notwithstanding the preceding sentence, a Subsidiary shall not be a Restricted
Subsidiary during such period of time as it has shares of capital stock registered under the
Exchange Act or it files reports and other information with the SEC pursuant to Section 13 or 15(d)
of the Exchange Act.

     “Sale-Leaseback Transaction” means an arrangement whereby the Corporation or a Restricted
Subsidiary now owns or hereafter acquires a Principal Property, sells or transfers it to a person
and contemporaneously leases it back from the person.

     “Subsidiary” means an entity, a majority of the Voting Stock of which is owned by the
Corporation, the Corporation and one or more Subsidiaries, or one or more Subsidiaries.

     “United States” means the United States of America. The Commonwealth of Puerto Rico, the
Virgin Islands and other territories and possessions are not part of the United States.

     “Voting Stock” means capital stock or other equity interest having voting power under ordinary
circumstances to elect directors or managers, as applicable.

     Section 4.2. Payment of Securities. The Corporation shall promptly pay the principal of and
interest, if any, on the Securities on the dates and in the manner provided in the Securities.

     To the extent lawful, the Corporation shall pay interest on overdue principal at the rate
borne by the Securities and shall pay interest on overdue installments of interest at the same
rate.

     Section 4.3. Limitation on Liens. The Corporation shall not, and shall not permit any
Restricted Subsidiary to, incur a Lien on Restricted Property to secure a Debt unless:

          (1) the Lien equally and ratably secures the Securities and the Debt. The Lien may
equally and ratably secure the Securities and any other obligation of the Corporation or a
Subsidiary. The Lien may not secure an obligation of the Corporation that is subordinated
to any Securities; or

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          (2) the Lien is on property, Debt or shares of stock of an entity at the time such
entity becomes a Restricted Subsidiary; or

          (3) the Lien is on property at the time the Corporation or a Restricted Subsidiary
acquires the property. However, the Lien may not extend to any other Restricted Property
owned by the Corporation or a Restricted Subsidiary at the time the property is acquired; or

          (4) the Lien secures Debt incurred to finance all or some of the purchase price or cost
of construction of property of the Corporation or a Restricted Subsidiary. The Lien may not
extend to any other Restricted Property owned by the Corporation or a Restricted Subsidiary
at the time the Lien is incurred. However, in the case of any construction the Lien related
to the construction may extend to unimproved real property. The Debt secured by the Lien
may not be incurred more than one year after the later of the acquisition, completion of
construction or commencement of full operation of the property subject to the Lien; or

          (5) the Lien secures Debt of a Restricted Subsidiary owed to the Corporation or another
Restricted Subsidiary; or

          (6) the Lien is on property of an entity at the time such entity merges into, or
consolidates or enters into a share exchange with, the Corporation or a Restricted
Subsidiary; or

          (7) the Lien is on property of a person at the time the person transfers or leases all
or substantially all its assets to the Corporation or a Restricted Subsidiary; or

          (8) the Lien is in favor of a government or governmental entity and

	 	(A)	 	secures payment pursuant to a contract,
subcontract, statute or regulation; or
	 
	 	(B)	 	secures Debt which is guaranteed by the
government or governmental entity; or
	 
	 	(C)	 	secures Debt incurred to finance all or some of
the purchase price or cost of construction of goods, products or
facilities produced under contract or subcontract for the government or
governmental entity; or
	 
	 	(D)	 	secures Debt incurred to finance all or some of
the purchase price or cost of construction of the property subject to
the Lien; or

          (9) as to any particular series of Securities, the Lien extends, renews or replaces in
whole or in part a Lien (“existing Lien”) permitted by any of the clauses (l) through (8) or
a Lien existing on the date that Securities of such series are first issued. The Lien may
not extend beyond the property subject to the existing Lien. The Debt

19

 

secured by the Lien may not exceed the Debt secured at the time by the existing Lien
unless the existing Lien or a predecessor Lien was incurred under clause (1) or (5); or

          (10) the Debt secured by the Lien plus all other Debt secured by Liens on Restricted
Property, excluding Debt secured by a Lien permitted by any of the clauses (1) through (9)
and any Debt secured by a Lien existing at the date of this Indenture, at the time does not
exceed 15% of Consolidated Net Tangible Assets. Attributable Debt for any lease entered
into under clause (4) of Section 4.4 shall be included in the determination and treated as
Debt secured by a Lien on Restricted Property not otherwise permitted by any of the clauses
(1) through (9).

     Section 4.4. Limitation on Sale-Leaseback Transactions. The Corporation shall not, and shall
not permit any Restricted Subsidiary to, enter into a Sale-Leaseback Transaction unless:

          (1) the lease has a term of three years or less; or

          (2) the lease is between the Corporation and a Restricted Subsidiary or between
Restricted Subsidiaries; or

          (3) the Corporation or a Restricted Subsidiary under clauses (2) through (9) of Section
4.3 could create a Lien on the property to secure Debt at least equal in amount to the
Attributable Debt for the lease; or

          (4) the Corporation or a Restricted Subsidiary under clause (10) of Section 4.3 could
create a Lien on the property to secure Debt at least equal in amount to the Attributable
Debt for the lease; or

          (5) the Corporation owns or acquires other property which will be made a Principal
Property and is determined by the Board of Directors of the Corporation to have a fair value
equal to or greater than the Attributable Debt incurred; or

          (6) within 270 days the Corporation makes Capital Expenditures with respect to a
Principal Property in an amount at least equal to the amount of the Attributable Debt
incurred; or

          (7)  (A) the Corporation or a Restricted Subsidiary makes an optional prepayment in cash
of its Debt or capital lease obligations at least equal in amount to the Attributable Debt
for the lease;

	 	(B)	 	the prepayment is made within 270 days of the
effective date of the lease;
	 
	 	(C)	 	the Debt prepaid is not owned by the
Corporation or a Restricted Subsidiary;
	 
	 	(D)	 	the Debt prepaid is not subordinated to any of
the Securities; and
	 
	 	(E)	 	the Debt prepaid was Long-Term Debt at the time
it was created.

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     Section 4.5. No Lien Created, etc. This Indenture and the Securities do not create a Lien,
charge or encumbrance on any property of the Corporation or any Subsidiary.

     Section 4.6. Compliance Certificate. The Corporation shall deliver to the Trustee within 120
days after the end of each fiscal year of the Corporation an Officers’ Certificate stating whether
or not the signers know of any default by the Corporation in performing its covenants in Section
4.3 or 4.4. If they do know of such a default, the certificate shall describe the default. The
certificate need not comply with Section 10.5.

     Section 4.7. SEC Reports. The Corporation shall file with the Trustee within 15 days after it
files them with the SEC copies of the annual reports and of the information, documents and other
reports (or copies of such portions of any of the foregoing as the SEC may by rules and regulations
prescribe) which the Corporation is required to file with the SEC pursuant to Section 13 or Section
15(d) of the Exchange Act. The Corporation also shall comply with the other provisions of TIA §
314(a).

ARTICLE 5.

SUCCESSOR CORPORATION

     Section 5.1. When the Corporation May Merge, etc. The Corporation shall not consolidate with
or merge into, or transfer all or substantially all its assets to another entity, unless (1) the
resulting, surviving or transferee entity assumes by supplemental indenture all the obligations of
the Corporation under the Securities and this Indenture, (2) immediately after giving effect to
such transaction no Event of Default and no circumstances which, after notice or lapse of time or
both, would become an Event of Default, shall have happened and be continuing, and (3) the
Corporation shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel,
each stating that such consolidation, merger or transfer and such supplemental indenture comply
with this Indenture, and thereafter all such obligations of the Corporation shall terminate.

     Section 5.2. When Securities Must Be Secured. If upon any such consolidation, merger or
transfer a Restricted Property would become subject to an attaching Lien that secures Debt, then,
before the consolidation, merger or transfer occurs, the Corporation by supplemental indenture
shall secure the Securities by a direct lien on such Restricted Property. The direct Lien shall
have priority over all Liens on such Restricted Property except these already on it. The direct
Lien may equally and ratably secure the Securities and any other obligation of the Corporation or a
Subsidiary. However, the Corporation need not comply with this Section if:

          (1) upon the consolidation, merger or transfer the attaching Lien will secure the
Securities, equally and ratably with or prior to Debt secured by the attaching Lien; or

          (2) the Corporation or a Restricted Subsidiary under any of the clauses (2) through
(10) of Section 4.3 could create a Lien on the Restricted Property to secure Debt at least
equal in amount to that secured by the attaching Lien.

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ARTICLE 6.

DEFAULTS AND REMEDIES

     Section 6.1. Events of Default. An “Event of Default” occurs with respect to a series of
Securities if:

     (1) the Corporation defaults in the payment of interest on any Security of that series
when the same becomes due and payable and the default continues for a period of 30 days;

     (2) the Corporation defaults in the payment of the principal of any Security of that
series when the same becomes due and payable at maturity, upon redemption or otherwise;

     (3) the Corporation fails to comply with any of its other agreements in the Securities
of that series or this Indenture for the benefit of that series and the default continues
for the period and after the notice specified in this Section;

     (4) the Corporation pursuant to or within the meaning of any Bankruptcy Law:

	 	(A)	 	commences a voluntary case,
	 
	 	(B)	 	consents to the entry of an order for relief
against it in an involuntary case,
	 
	 	(C)	 	consents to the appointment of a Custodian of
it or for all or substantially all of its property, or
	 
	 	(D)	 	makes a general assignment for the benefit of
its creditors;

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

	 	(A)	 	is for relief against the Corporation in an
involuntary case,
	 
	 	(B)	 	appoints a Custodian of the Corporation or for
all or substantially all of the property of the Corporation, or
	 
	 	(C)	 	orders the winding up or liquidation of the
Corporation, and
	 
	 	(D)	 	the order or decree remains unstayed and in
effect for 60 days; or

     (6) there occurs any other event specifically described as an Event of Default by the
Securities of that series.

22

 

     The term “Bankruptcy Law” means Title 11, United States Code or any similar Federal or state
law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee,
liquidator, custodian or similar official under any Bankruptcy Law.

     A default under clause (3) is not an Event of Default with respect to a series of Securities
until the Trustee or the Holders of at least 25% in principal amount of the Securities of that
series notify the Corporation of the default and the Corporation does not cure the default within
90 days after receipt of the notice. The notice must specify the default, demand that it be
remedied and state that the notice is a “Notice of Default.” Subject to Sections 7.1 and 7.2, the
Trustee shall not be charged with knowledge of any default, or of the delivery to the Corporation
of a notice of default by any Holder, unless written notice thereof shall have been given to the
Trustee by the Corporation, the Paying Agent, the Holder of a Security or an agent of such Holder.

     Section 6.2. Acceleration. If an Event of Default with respect to a series of Securities
occurs and is continuing, the Trustee, by notice to the Corporation, or the Holders of at least 25%
in principal amount of the Securities of that series by notice to the Corporation and the Trustee,
may declare the principal (or, in the case of Discounted Securities, such amount of principal as
may be provided for in such Securities) of and accrued interest on all the Securities of that
series to be due and payable immediately. Upon a declaration such principal and interest shall be
due and payable immediately. The Holders of a majority in principal amount of the Securities of
any series by notice to the Trustee may rescind an acceleration (and upon such rescission any Event
of Default caused by such acceleration shall be deemed cured) with respect to that series and its
consequences if all existing Events of Default with respect to the series have been cured or
waived, if the rescission would not conflict with any judgment or decree, and if all payments due
to the Trustee and any predecessor Trustee under Section 7.7 have been made.

     Section 6.3. Other Remedies. If an Event of Default with respect to a series of Securities
occurs and is continuing, the Trustee may pursue any available remedy by proceeding at law or in
equity to collect the payment of principal of (or, in the case of Discounted Securities, such
amount of principal as may be provided for in such Securities) or interest on the Securities of
that series or to enforce the performance of any provision of such Securities or this Indenture.

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

     Section 6.4. Waiver of Past Defaults. Subject to Section 9.2, the Holders of a majority in
principal amount of the Securities of a series by notice to the Trustee may waive an existing
Default or Event of Default with respect to that series and its consequences. When a Default or
Event of Default is waived, it is cured and stops continuing, but no such waiver shall extend to
any subsequent or other Default or Event of Default or impair any right consequent thereto.

     Section 6.5. Control by Majority. The Holders of a majority in principal amount of the
Securities of a series may direct the time, method and place of conducting any proceeding for

23

 

any remedy available to the Trustee or of exercising any trust of power conferred on it with
respect to that series. However, the Trustee may refuse to follow any direction that conflicts
with law or this Indenture, or, subject to Section 7.1, that the Trustee determines is unduly
prejudicial to the rights of other Holders of Securities of the same series or would involve the
Trustee in personal liability.

     Section 6.6. Limitation on Suits. No Holder of a Security of any series may pursue any
remedy with respect to this Indenture or the Securities unless:

     (1) the Holder gives to the Trustee written notice stating that an Event of Default
with respect to the Securities of the series is continuing;

     (2) the Holders of at least 25% in principal amount of the Securities of that series
make a written request to the Trustee to pursue the remedy;

     (3) such Holder or Holders offer to the Trustee indemnity satisfactory to the Trustee
against any loss, liability or expense;

     (4) the Trustee does not comply with the request within 60 days after receipt of the
request and the offer of indemnity; and

     (5) during such 60-day period the Holders of a majority in principal amount of the
Securities of that series do not give the Trustee a direction inconsistent with the request.

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

     Section 6.7. Rights of Holders to Receive Payment. Notwithstanding any other provision of
this Indenture, the right of any Holder to receive payment of principal of and interest on the
Security on or after the respective due dates expressed in the Security, or to bring suit for the
enforcement of any such payment on or after such respective date, shall not be impaired or affected
without the consent of the Holder.

     Section 6.8. Collection Suit by Trustee. If an Event of Default in payment of interest or
principal specified in Section 6.1(1) or (2) occurs and is continuing, the Trustee may recover
judgment in its own name and as trustee of an express trust against the Corporation for the whole
amount of principal and interest remaining unpaid.

     Section 6.9. Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and
other papers or documents as may be necessary or advisable in order to have the claims of the
Trustee and the Securityholders allowed in any judicial proceedings relative to the Corporation, or
any of its creditors or property, and unless prohibited by law or applicable regulations, may vote
on behalf of the Holders in any election of a trustee in bankruptcy or other person performing
similar functions.

     Section 6.10. Priorities. If the Trustee collects any money pursuant to this Article with
respect to the Securities of any series, it shall pay out the money in the following order:

24

 

First: to the Trustee for amounts due under Section 7.7;

Second: to Holders of Securities of that series for amounts due and
unpaid on such Securities for principal and interest, ratably,
without preference or priority of any kind, according to the amounts
due and payable on such Securities for principal and interest,
respectively; and

Third: to the Corporation.

     The Trustee may fix a record date and payment date for any payment to Securityholders pursuant
to this Section.

     Section 6.11. Undertaking for Costs. In any suit for the enforcement of any right or remedy
under this Indenture or in any suit against the Trustee for any action taken or omitted by it as
Trustee, a court in its discretion may require the filing by any party litigant in the suit other
than the Trustee of an undertaking to pay the costs of the suit, and the court in its discretion
may assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in
the suit having due regard to the merits and good faith of the claims or defenses made by the party
litigant. This Section does not apply to a suit by the Trustee, a suit by a Holder pursuant to
Section 6.7 or a suit by Holders of more than 10% in principal amount of the Securities of any
series.

ARTICLE 7.

TRUSTEE

     Section 7.1. Duties of Trustee. (a) If an Event of Default has occurred and is continuing,
the Trustee shall with respect to Securities exercise its rights and powers and use the same degree
of care and skill in their exercise as a prudent man would exercise or use under the circumstances
in the conduct of his own affairs.

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

     (1) the Trustee need perform only those duties that are specifically and expressly set
forth in this Indenture and no others; and

     (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates, notices or opinions furnished to the Trustee and conforming to the
requirements of this Indenture. However, the Trustee shall examine the certificates,
notices and opinions to determine whether or not they conform to the requirements of this
Indenture.

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

     (1) this paragraph does not limit the effect of paragraph (b) of this Section;

25

 

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

     (3) the Trustee shall not be liable with respect to any action it takes or omits to
take in good faith in accordance with a direction received by it pursuant to Section 6.5;

     (d) Every provision of this Indenture that in any way relates to the Trustee is subject to
paragraphs (a), (b) and (c) of this section;

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

     (f) The Trustee shall not be liable for interest on any money received by it except as the
Trustee may agree with the Corporation.

     Section 7.2. Rights of Trustee. (a) Subject to Section 7.1, the Trustee may rely on any
document (whether in its original, electronic or facsimile form) believed by it to be genuine and
to have been signed or presented by the proper person. The Trustee need not investigate any fact
or matter stated in the document.

     (b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate
or an Opinion of Counsel. The Trustee shall not be liable for any action it takes or omits to take
in good faith in reliance on the Officers’ Certificate or Opinion of Counsel.

     (c) The Trustee may act through agents and shall not be responsible for the misconduct or
negligence of any agent appointed with due care.

     (d) The Trustee shall not be liable for any action it takes or omits to take in good faith
which it believes to be authorized or within its rights or powers.

     Section 7.3. Individual Rights of Trustee, etc. The Trustee in its individual or any other
capacity may become the owner or pledgee of Securities and may otherwise deal with the Corporation
or any of its affiliates with the same rights it would have if it were not Trustee. Any Agent may
do the same with like rights. However, the Trustee must comply with Sections 7.10 and 7.11.

     Section 7.4. Trustee’s Disclaimer. The Trustee makes no representations as to the validity
or adequacy of this Indenture or the Securities, it shall not be accountable for the Corporation’s
use of the proceeds from the Securities, and it shall not be responsible for any statement in the
Securities other than its certificate of authentication.

     Section 7.5. Notice of Defaults. If a Default occurs with respect to a series of Securities
and is continuing and if it is known to the Trustee, the Trustee shall mail to each Holder of
Securities of that series notice of the Default within 90 days after it occurs. Except in the case
of a default in payment on any Security, the Trustee may withhold the notice if and so long as a
committee of its Trust Officers determines in good faith that withholding the notice is in the
interests of such Holders.

26

 

     Section 7.6. Reports by Trustee to Holders. If required pursuant to TIA § 313(a), the
Trustee, within 60 days after each May 15, shall mail to each Securityholder a brief report dated
as of May 15 that complies with TIA § 313(a). The Trustee also shall comply with the reporting
obligations of TIA § 313(b).

     A copy of each report at the time of its mailing to Securityholders shall be filed with the
SEC and each stock exchange on which the Securities are listed. The Corporation agrees to notify
the Trustee whenever the Securities become listed on any stock exchange.

     Section 7.7. Compensation and Indemnity. The Corporation shall pay to the Trustee from time
to time reasonable compensation for its services. The Corporation shall reimburse the Trustee upon
request for all reasonable out-of-pocket expenses incurred by it. Such expenses shall include the
reasonable compensation and expenses of the Trustee’s agents and counsel. The Corporation shall
indemnify the Trustee against any loss or liability incurred by it in connection with the
administration of this trust and its duties hereunder. The Trustee shall notify the Corporation
promptly of any claim for which it may seek indemnity. The Corporation need not pay for any
settlement made without its consent. The Corporation need not reimburse any expense or indemnify
against any loss or liability incurred by the Trustee through negligence or bad faith.

     To secure the Corporation’s payment obligations in this Section, the Trustee shall have a
senior claim to which the Securities are hereby made subordinate on all money or property held or
collected by the Trustee, except that held in trust to pay principal of and interest on particular
Securities.

     When the Trustee incurs expenses or renders services after an Event of Default specified in
Section 6.1(4) or (5) occurs, the expenses and the compensation for the services are intended to
constitute expenses of administration under any Bankruptcy Law.

     Section 7.8. Replacement of Trustee. The Trustee may resign with respect to the Securities
of one or more series by so notifying the Corporation. The Holders of a majority in principal
amount of the Securities of any series may remove the Trustee with respect to that series by so
notifying the removed Trustee and may appoint a successor Trustee with the Corporation’s consent.
The Corporation may remove the Trustee if:

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

     (2) the Trustee is adjudged bankrupt or insolvent;

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

     (4) the Trustee otherwise becomes incapable of acting.

     If the Trustee resigns or is removed or if a vacancy exists in the office of trustee for any
reason, the Corporation shall promptly appoint a successor Trustee.

27

 

     A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Corporation. Immediately after that, the retiring Trustee shall transfer all
property held by it as Trustee for the benefit of the series with respect to which it is retiring
to the successor Trustee, the resignation or removal of the retiring Trustee shall then become
effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee
under this Indenture with respect to that series. A successor Trustee shall mail notice of its
succession to each Holder of the Securities of the series affected.

     If pursuant to Section 2.3(5) a trustee, other than the Trustee initially named in this
Indenture (or any successor thereto), is appointed with respect to one or more series of
Securities, the Corporation, the Trustee initially named in this Indenture (or any successor
thereto) and such newly appointed trustee shall execute and deliver a supplement to this Indenture
which shall contain such provisions as shall be necessary or desirable to confirm that all the
rights, powers, trusts and duties of the Trustee initially named in this Indenture (or any
successor thereto) with respect to the Securities of any series as to which the Trustee is
continuing as trustee hereunder shall continue to be vested in the Trustee initially named in this
Indenture (or any successor thereto), and shall add to, supplement or change any of the provisions
of this Indenture as shall be necessary or desirable to provide for or facilitate the
administration of the trusts hereunder by more than one trustee, it being understood that nothing
herein or in such supplemental indenture shall constitute such trustees co-trustees of the same
trust and that each such trustee shall be trustee of a trust or trusts relating to the separate
series of Securities as if it were acting under a separate indenture.

     If a successor Trustee with respect to a series of Securities does not take office within 60
days after the retiring Trustee resigns or is removed, the retiring Trustee, the Corporation or the
Holders of a majority in principal amount of the Securities of that series may petition any court
of competent jurisdiction for the appointment of a successor Trustee.

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

     If there are two or more Trustees at any time under this Indenture, each will be the Trustee
of a separate trust held under this Indenture for the benefit of the series of Securities for which
it is acting as Trustee and the rights and obligations of each Trustee will be determined as if it
were acting under a separate indenture.

     Section 7.9. Successor Trustee by Merger, etc. If the Trustee consolidates with, merges or
converts into or transfers all or substantially all its corporate trust assets to another
corporation, the resulting, surviving or transferee corporation without any further act shall be
the successor Trustee.

     Section 7.10. Eligibility; Disqualification. This Indenture shall always have a Trustee that
satisfies the requirements of TIA § 310(a). The Trustee shall have a combined capital and surplus
of at least $5,000,000 as set forth in its most recent published annual report of condition. The
Trustee shall comply with TIA § 310(b), provided that the question whether the Trustee has

28

 

a conflicting interest shall be determined as if each series of Securities were separate
issues of securities issued under separate indentures.

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

ARTICLE 8.

SATISFACTION, DISCHARGE AND DEFEASANCE

     Section 8.1. Satisfaction and Discharge Under Limited Circumstances. If at any time (a) all
Securities of a series previously authenticated (other than any Securities destroyed, lost or
stolen and replaced or paid as provided in Section 2.8) shall have been delivered to the Trustee
for cancellation, or (b) all the Securities of a series not previously delivered to the Trustee for
cancellation shall have become due and payable, the Corporation has deposited or caused to be
deposited with the Trustee as trust funds the entire amount (other than moneys paid to the
Corporation in accordance with Section 8.5) sufficient to pay at maturity or upon redemption all
Securities of that series not previously delivered to the Trustee for cancellation, including
principal and interest due, and if, in either case, the Corporation shall also pay all other sums
then payable under this Indenture by the Corporation, then this Indenture shall cease to be of
further effect with respect to Securities of that series, and the Trustee, on demand of and at the
cost and expense of the Corporation, shall execute proper instruments acknowledging satisfaction of
and discharging this Indenture with respect to Securities of that series. The Corporation will
reimburse the Trustee for any subsequent costs or expenses reasonably and properly incurred by the
Trustee in connection with this Indenture or the Securities.

     Section 8.2. Satisfaction and Discharge of Indenture. The Corporation may take any action
provided for in this Section unless the Securities of the affected series specifically provide that
this Section shall not apply to the series. The Corporation at any time at its option may
terminate all of its obligations under the Securities of a series previously authenticated and its
obligations under this Indenture with respect to such series (except as provided below), and the
Trustee, at the expense of the Corporation, shall, upon the request of the Corporation, execute
proper instruments acknowledging satisfaction of and discharging this Indenture with respect to
Securities of that series, effective on the date the following conditions are satisfied:

     (1) with reference to this Section, the Corporation has deposited or caused to be
deposited with the Trustee, as trust funds in trust, specifically pledged as security for
and dedicated solely to the benefit of the Holders of the Securities of that series, (a)
lawful money, in the currency or currencies in which Securities of that series are payable,
in an amount, or (b) if the Securities of that series are payable in U.S. dollars, U.S.
Government Obligations which through the payment of interest and principal in respect
thereof in accordance with their terms (and, as to callable U.S. Government Obligations,
regardless of when they are called) will provide not later than the opening of business on
the due dates of any payment of the principal of and any interest on the Securities of that
series lawful money of the United States in an amount, or (c) Securities of that series, or

29

 

(d) a combination thereof, sufficient to pay and discharge the principal of and
interest on the Securities of that series on the date on which such payments are due and
payable in accordance with the terms of this Indenture and of the Securities of that series
and 91 days have passed during which no Event of Default under Section 6.1(4) or 6.1(5) has
occurred;

     (2) if the Securities of that series are then listed on any national securities
exchange, the Corporation shall have delivered to the Trustee an Opinion of Counsel to the
effect that such deposit, defeasance and discharge will not cause such Securities to be
delisted; and

     (3) the Corporation has delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, complying with Section 10.4 relating to the Corporation’s exercise of
such option.

     The trust established pursuant to subsection (1) above shall be irrevocable and shall be made
under the terms of an escrow trust agreement in form and substance satisfactory to the Trustee.
The escrow trust agreement may, at the Corporation’s election, grant the Corporation the right to
substitute U.S. Government Obligations or Securities of the same series from time to time for any
or all of the U.S. Government Obligations deposited with the Trustee pursuant to this Section and
the escrow trust agreement; provided, however, that the condition specified in subsection (1) above
is satisfied immediately following any such substitution or substitutions. If any Securities of a
series are to be redeemed prior to their stated maturity pursuant to optional redemption provisions
the applicable escrow trust agreement shall provide therefor and the Corporation shall make such
arrangements as are satisfactory to the Trustee for the giving of notice of redemption by the
Trustee in the name, and at the expense, of the Corporation.

     Upon the satisfaction of the conditions set forth in this Section with respect to the
Securities, the terms and conditions of the Securities, including the terms and conditions with
respect thereto set forth in this Indenture, shall no longer be binding upon, or applicable to, the
Corporation.

     Notwithstanding the satisfaction and discharge of this Indenture, the following shall survive
until otherwise terminated or discharged hereunder: (A) the rights of Holders of the Securities of
such series to receive, solely from the trust fund described in Section 8.1 and as more fully set
forth in such Section, payments in respect of the principal of and any premium and interest on the
Securities of such series when such payments are due, (B) the Company’s obligations with respect to
such Securities under Sections 2.4, 2.5, 2.6, 2.7, 2.8, 2.10, 7.7 and 7.8, (C) the rights, powers,
trusts, duties and immunities of the Trustee hereunder and (D) this Article Eight.

     “U.S. Government Obligations” means the following obligations:

	 	(1)	 	direct obligations of the United States (for
the payment of which its full faith and credit is pledged; or
	 
	 	(2)	 	obligations of a person controlled or
supervised by and acting as an agency or instrumentality of the
United States

30

 

	 	 	 	the payment of which is unconditionally guaranteed as a full
faith and credit obligation by the United States.

     Section 8.3. Defeasance of Certain Obligations. The Corporation may take any action provided
for in this Section unless the Securities of the affected series specifically provide that this
Section shall not apply to the series. The Corporation at any time at its option may cease to be
under any obligation to comply with Sections 4.3, 4.4, 4.6, 5.1 and 5.2 with respect to Securities
of a series effective on the date the following conditions are satisfied:

     (1) with reference to this Section, the Corporation has deposited or caused to be
deposited with the Trustee, as trust funds in trust, specifically pledged as security for
and dedicated solely to the benefit of the Holders of the Securities of that series, (a)
lawful money, in the currency or currencies in which Securities of that series are payable,
in an amount, or (b) if the Securities of that series are payable in U.S. dollars, U.S.
Government Obligations which through the payment of interest and principal in respect
thereof in accordance with their terms (and, as to callable U.S. Government Obligations,
regardless of when they are called) will provide not later than the opening of business on
the due dates of any payment of principal of and interest on the Securities of that series
lawful money of the United States in an amount or (c) Securities of that issue, or (d) a
combination thereof, sufficient to pay and discharge the principal of and interest on the
Securities of that series on the day on which such payments are due and payable in
accordance with the terms of this Indenture and of the Securities of that series; and

     (2) the Corporation has delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel complying with Section 10.4 relating to the Corporation’s exercise of
such option.

     The trust established pursuant to subsection (1) above shall be irrevocable and shall be made
under the terms of an escrow trust agreement in form and substance satisfactory to the Trustee.
The escrow trust agreement may, at the Corporation’s election, grant the Corporation the right to
substitute U.S. Government Obligations or Securities of the same series from time to time for any
or all of the U.S. Government Obligations deposited with the Trustee pursuant to this Section and
the escrow trust agreement; provided, however, that the condition specified in subsection (1) above
is satisfied immediately following any such substitution or substitutions. If any Securities of a
series are to be redeemed prior to their stated maturity pursuant to optional redemption provisions
the applicable escrow trust agreement shall provide therefor and the Corporation shall make such
arrangements as are satisfactory to the Trustee for the giving of notice of redemption by the
Trustee in the name, and at the expense, of the Corporation.

     The Corporation’s exercise of its option under this Section shall not preclude the Corporation
from subsequently exercising its option under Section 8.2 hereof and the Corporation may so
exercise that option by providing the Trustee with written notice to such effect.

     Section 8.4. Application of Trust Money. The Trustee shall hold in trust money, U.S.
Government Obligations, and Securities of that series deposited with it pursuant to Sections 8.1,
8.2 or 8.3. It shall apply the deposited money and U.S. Government Obligations, through the

31

 

Paying Agent and in accordance with this Indenture, to the payment of principal and interest
on the Securities of the series for the payment of which such money and U.S. Government Obligations
has been deposited. The Holder of any Security replaced pursuant to Section 2.8 shall not be
entitled to any such payment and shall look only to the Corporation for any payment which such
Holder may be entitled to collect. In connection with the satisfaction and discharge of this
Indenture or the defeasance of certain obligations under this Indenture with respect to Securities
of a series pursuant to Section 8.2 or Section 8.3 hereof, respectively, the escrow trust agreement
may, at the Corporation’s election, (1) enable the Corporation to direct the Trustee to invest any
money received by the Trustee on the U.S. Government Obligations deposited in trust thereunder in
additional U.S. Government Obligations and (2) enable the Corporation to withdraw monies or U.S.
Government Obligations from the trust from time to time; provided, however, that the condition
specified in Section 8.2(1) or 8.3(1) is satisfied immediately following any investment of such
money by the Trustee or the withdrawal of monies or U. S. Government Obligations from the trust by
the Corporation as the case may be.

     Section 8.5. Repayment to Corporation. The Trustee and the Paying Agent shall promptly pay
to the Corporation upon request any excess money or securities held by them at any time. The
Trustee and the Paying Agent shall pay to the Corporation upon request any money held by them for
the payment of principal or interest that remains unclaimed for two years.

ARTICLE 9.

AMENDMENTS, SUPPLEMENTS AND WAIVERS

     Section 9.1. Without Consent of Holders. The Corporation may amend or supplement this
Indenture or the Securities of any series without notice to or consent of any Securityholder of
such series:

     (1) to cure any ambiguity, omission, defect or inconsistency;

     (2) to comply with Article 5;

     (3) to provide for uncertificated Securities in addition to or in place of certificated
Securities;

     (4) to effectuate or comply with the provisions of Section 2.3(5) or 7.8;

     (5) to make any change that does not materially adversely affect the rights of any
Holder of any Security of that series; or

     (6) to add or change or eliminate any provisions of this Indenture as shall be
necessary or desirable in accordance with any amendments to the TIA.

     The Trustee may waive compliance by the Corporation with any provision of this Indenture or
the Securities of any series without notice to or consent of any Securityholder of such series if
the waiver does not materially adversely affect the rights of any Holder of any Securities of that
series.

32

 

     Section 9.2. With Consent of Holders. The Corporation may amend or supplement this Indenture
or the Securities with respect to any series without notice to any Securityholder but with the
written consent of the Holders of not less than a majority in principal amount of the Securities of
such series affected and the Trustee shall execute any such amendment or supplement at the
direction of the Corporation. The Holders of a majority in principal amount of the Securities of
such series affected may waive compliance by the Corporation with any provision of this Indenture
or the Securities of such series without notice to any Securityholder. However, without the
consent of each Securityholder of such series affected, an amendment, supplement or waiver,
including a waiver pursuant to Section 6.4, may not:

     (1) reduce the amount of Securities of such series whose Holders must consent to an
amendment, supplement or waiver;

     (2) reduce the rate of or extend the time for payment of interest on any Security of
such series;

     (3) reduce the principal of or extend the fixed maturity of any Security of such
series;

     (4) reduce the portion of the principal amount of a Discounted Security of such series
payable upon acceleration of its maturity; or

     (5) make any Security of such series payable in money other than that stated in such
Security.

It shall not be necessary for any Act of Holders under this Section to approve the particular form
of any proposed supplement or amendment, but it shall be sufficient if such Act shall approve the
substance thereof.

     Section 9.3. Compliance with Trust Indenture Act of 1939. Every amendment to or supplement
of this Indenture or the Securities shall comply with the TIA as then in effect.

     Section 9.4. Revocation and Effect of Consents. A consent to an amendment, supplement or
waiver by a Holder of a Security shall bind the Holder and every subsequent Holder of that Security
or portion of the Security that evidences the same debt as the consenting Holder’s Security, even
if notation of the consent is not made on the Security. However, any such Holder or subsequent
Holder may revoke the consent as to his Security or portion of the Security. The Trustee must
receive the notice of revocation before the date the amendment, supplement or waiver becomes
effective.

     After an amendment, supplement or waiver becomes effective, it shall bind every Securityholder
unless it makes a change described in clauses (2), (3), (4) or (5) of Section 9.2. In that case,
the amendment, supplement or waiver shall bind each Holder of a Security who has consented to it
and every subsequent Holder of a Security or portion of a Security that evidences the same debt as
the consenting Holder’s Security.

     Section 9.5. Notation on or Exchange of Securities. If an amendment, supplement or waiver
changes the terms of a Security, the Trustee may require the Holder of the Security to

33

 

deliver it to the Trustee. The Trustee may place an appropriate notation on the Security
about the changed terms and return it to the Holder. Alternatively, if the Corporation or the
Trustee so determine, the Corporation in exchange for the Security shall issue and the Trustee
shall authenticate a new Security that reflects the changed terms.

     Section 9.6. Trustee to Sign Amendments, etc. The Trustee shall sign any amendment,
supplement or waiver authorized pursuant to this Article if the amendment, supplement or waiver
does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it
does, the Trustee may but need not sign it. In signing such amendment, supplement or waiver the
Trustee shall be entitled to receive, and (subject to Section 7.1) shall be fully protected in
relying upon, an Opinion of Counsel stating that such amendment, supplement or waiver is authorized
or permitted by this Indenture. The Corporation shall not sign an amendment or supplement unless
authorized by an appropriate Board Resolution.

ARTICLE 10.

MISCELLANEOUS

     Section 10.1. TIA Controls. If any provision of this Indenture limits, qualifies or
conflicts with another provision which is required to be included in this Indenture by the TIA, the
required provision shall control.

     Section 10.2. Notices. Any notice or communication shall be sufficiently given if in writing
and delivered in person, sent by facsimile or electronic delivery, or mailed by first-class mail
addressed as follows:

     if to the Corporation:

Martin Marietta Materials, Inc.

Attention: Chief Financial Officer

2710 Wycliff Road

Raleigh, North Carolina 27607

     if to the Trustee:

Branch Banking & Trust Company

Attention: Corporate Trust Services

223 West Nash Street

Wilson, North Carolina 27893

     The Corporation or the Trustee by notice to the other may designate additional or different
addresses for subsequent notices or communications.

     Any notice or communication mailed to a Securityholder shall be mailed to the Securityholder
at the Securityholder’s address as it appears on the registration books of the Registrar and shall
be sufficiently given if so mailed within the time prescribed.

34

 

     Failure to mail a notice of communication to a Securityholder or any defect in it shall not
affect its sufficiency with respect to other Securityholders. If a notice or communication is
mailed in the manner provided above, it is duly given, whether or not the addressee receives it.

     Section 10.3. Communication by Holders with Other Holders. Securityholders may communicate
pursuant to TIA § 312 (b) with other Securityholders with respect to their rights under this
Indenture or the Securities. The Corporation, the Trustee, the Registrar and anyone else shall
have the protection of TIA § 312(c).

     Section 10.4. Certificate and Opinion as to Conditions Precedent. Upon any request or
application by the Corporation to the Trustee to take any action under this Indenture, the
Corporation shall furnish to the Trustee:

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

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

     Section 10.5. Statements Required in Certificate or Opinion. Each certificate or opinion
with respect to compliance with a condition or covenant provided for in this Indenture shall
include:

     (1) a statement that the person making such certificate or opinion has read such
covenant or condition;

     (2) a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based;

     (3) a statement that, in the opinion of such person, the person has made such
examination or investigation as is necessary to enable the person to express an informed
opinion as to whether such covenant or condition has been complied with;

     (4) a statement as to whether or not, in the opinion of such person, such condition or
covenant has been complied with.

     Section 10.6. When Treasury Securities Disregarded. In determining whether the Holders of
the required principal amount of Securities have concurred in any direction, waiver or consent,
Securities owned by the Corporation or by any person directly or indirectly controlling or
controlled by or under direct or indirect common control with the Corporation, shall be
disregarded, except that for the purpose of determining whether the Trustee shall be protected in
relying on any such direction, waiver or consent, only Securities which the Trustee knows are so
owned shall be so disregarded. Also, subject to the foregoing, only Securities outstanding at the
time shall be considered in any such determination.

35

 

     Section 10.7. Rules by Trustee, Paying Agent, Registrar. The Trustee may make reasonable
rules for action by or a meeting of Securityholders. The Paying Agent or Registrar may make
reasonable rules for its functions.

     Section 10.8. Legal Holidays. A “Legal Holiday” is a Saturday, a Sunday, a legal holiday or
a day on which banking institutions are not required to be open. If a payment date is a Legal
Holiday at a place of payment, payment shall be made at that place on the next succeeding day that
is not a Legal Holiday, and no interest shall accrue for the intervening period. If a regular
record date is a Legal Holiday in the state or other jurisdiction in which the Trustee maintains
its principal place of business, then the record date shall be the next succeeding day that is not
a Legal Holiday in such state or other jurisdiction.

     Section 10.9. Governing Law. The laws of the State of New York shall govern this Indenture
and the Securities.

     Section 10.10. No Adverse Interpretation of Other Agreements. This Indenture may not be used
to interpret another indenture, loan or debt agreement of the Corporation or any Subsidiary. Any
such indenture, loan or debt agreement may not be used to interpret this Indenture.

     Section 10.11. No Recourse Against Others. A director, officer, employee or stockholder, as
such, of the Corporation shall not have any liability for any obligation of the Corporation under
the Securities or the Indenture or for any claim based on, with respect to or by reason of such
obligations or their creation. All such liability is waived and released as a condition of, and as
partial consideration for, the execution of this Indenture and the issue of the Securities.

     Section 10.12. Securities in a Foreign Currency. Unless otherwise specified in an Officers’
Certificate delivered pursuant to Section 2.1 of this Indenture with respect to a particular series
of Securities, whenever for purposes of this Indenture any action may be taken by the holders of a
specified percentage in aggregate principal amount of Securities of all series at the time
outstanding and, at such time, there are outstanding Securities of any series which are denominated
in a Foreign Currency, then the principal amount of Securities of such series which shall be deemed
to be outstanding for the purpose of taking such action shall be that amount of U.S. dollars that
could be obtained for such amount at the Market Exchange Rate on the record date fixed for such
action or, if no record date is fixed, on the New York Banking Day immediately preceding the date
of such action.

     Section 10.13. Judgment Currency. If, for the purpose of obtaining a judgment in any court
with respect to any obligation of the Corporation hereunder or under any Security, it shall become
necessary to convert into any other currency any amount in the currency due hereunder or under such
Security, then such conversion shall be made by the Trustee (a) with respect to conversions between
any Foreign Currency and U.S. dollars at the Market Exchange Rate as in effect on the date of entry
of the judgment (the “Judgment Date”) and (b) with respect to conversions of any Foreign Currency
into any other Foreign Currency by (i) converting such Foreign Currency into U.S. dollars at the
Market Exchange Rate as in effect on the Judgment Date and (ii) converting the sum of U.S. dollars
so obtained into such other Foreign Currency at

36

 

the Market Exchange Rate as in effect on the Judgment Date. If pursuant to any such judgment,
conversion shall be made on a date (the “Substitute Date”) other than the Judgment Date and there
shall occur a change between any Market Exchange Rate used in such conversion as in effect on the
Judgment Date and such Market Exchange Rate as in effect on the Substitute Date, the Corporation
agrees to pay such additional amounts, if any, as may be necessary to ensure that the amount paid
is equal to the amount in such other currency which, when converted at such Market Exchange Rate as
in effect on the Judgment Date, is the amount due hereunder or under such Security. Any amount due
from the Corporation under this Section shall be due as a separate debt and is not to be affected
by or merged into any judgment being obtained for any other sums due hereunder or in respect of any
Security. In no event, however, shall the Corporation be required to pay more in the currency due
hereunder or under such Security at the Market Exchange Rate as in effect on the Judgment Date than
the amount of currency stated to be due hereunder or under such Security so that in any event the
Corporation’s obligations hereunder or under such Security will be effectively maintained as
obligations in such currency, and the Corporation shall be entitled to withhold (or be reimbursed
for, as the case may be) any excess of the amount actually realized upon any such conversion on the
Substitute Date over the amount due and payable on the Judgment Date.

     Section 10.14. Successors. All agreements of the Corporation in this Indenture and the
Securities shall bind its successor. All agreements of the Trustee in this Indenture shall bind
its successor.

     Section 10.15. Duplicate Originals. The parties may sign any number of copies of this
Indenture. One signed copy is enough to prove this Indenture.

     Section 10.16. Acts of Holders; Record Dates. (a) Any request, demand, authorization,
direction, notice, consent, waiver or other action provided by this Indenture to be given or taken
by Holders may be embodied in and evidenced by one or more instruments of substantially similar
tenor signed by such Holders in person or by agent duly appointed in writing; and, except as herein
otherwise expressly provided, such action shall become effective when such instrument or
instruments are delivered to the Trustee and, where it is hereby expressly required, to the
Corporation. Such instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or
instruments. Proof of execution of any such instrument or of a writing appointing any such agent
shall be sufficient for any purpose of this Indenture and (subject to Section 7.1(e)) conclusive in
favor of the Trustee and the Corporation, if made in the manner provided in this Section.

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

37

 

     (c) The Corporation may, in the circumstances permitted by the TIA, fix any day as the record
date for the purpose of determining the Holders of Securities of any series entitled to give or
take any request, demand, authorization, direction, notice, consent, wavier or other action, or to
vote on any action, authorized or permitted to be given or taken by Holders of Securities of such
series. If not set by the Corporation prior to the first solicitation of a Holder of Securities of
such series made by any person in respect of any such action, or, in the case of any such vote,
prior to such vote, the record date for any such action or vote shall be the 30th day (or, if
later, the date of the most recent list of Holders required to be provided pursuant to Section 2.6)
prior to such first solicitation or vote, as the case may be. With regard to any record date for
action to be taken by the Holders of one or more series of Securities, only the Holders of
Securities of such series on such date (or their duly designated proxies) shall be entitled to give
or take, or vote on, the relevant action.

     Section 10.17. Force Majeure. In no event shall the Trustee be responsible or liable for any
failure or delay in the performance of its obligations hereunder arising out of or caused by,
directly or indirectly, forces beyond its control, including, without limitation, strikes, work
stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications
or computer (software or hardware) services; it being understood that the Trustee shall use
reasonable efforts which are consistent with accepted practices in the banking industry to resume
performance as soon as practicable under the circumstances.

38

 

	 	 	 	 	 	 	 
	 	 	SIGNATURES
	 
	 	 	 	 	 	 
	 	 	MARTIN MARIETTA MATERIALS, INC.
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	[CORPORATE SEAL]	 	 	 	Title:
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Attest:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	                                                             Secretary
	 	 	 	 	 	 
	 	 	BRANCH BANKING & TRUST COMPANY
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Title:
	 

	 	 	 	 	 	 
	[CORPORATE SEAL]
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Attest:
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	                                                             Secretary
	 	 	 	 	 	 

39

 

     [If the Note [Debenture] is a Discounted Security, insert — FOR PURPOSES OF SECTIONS 1273
AND 1275 OF THE INTERNAL REVENUE CODE, THE AMOUNT OF ORIGINAL ISSUE DISCOUNT ON THIS NOTE
[DEBENTURE] IS ___% OF ITS PRINCIPAL AMOUNT,
THE ISSUE DATE IS                     , THE YIELD TO
MATURITY IS ___%, THE AMOUNT OF ORIGINAL ISSUE DISCOUNT APPLICABLE TO THE SHORT ACCRUAL PERIOD
OF ___ TO ___, IS ___% OF THE PRINCIPAL AMOUNT OF THIS SECURITY AND THE METHOD USED TO
DETERMINE THE SHORT ACCRUAL PERIOD ORIGINAL ISSUE DISCOUNT IS THE
                     METHOD.]

[FORM OF U.S.$ DENOMINATED NOTE/DEBENTURE]

			
	No.
	 	$                    

MARTIN MARIETTA MATERIALS, INC.

[                    %] [Floating Rate] [Zero Coupon] Note

[Debenture] Due                     

MARTIN MARIETTA MATERIALS, INC., a North Carolina corporation, for value received, hereby promises
to pay to                                                             , or registered assigns, the
principal sum of                                                              Dollars on              
       .

     Interest Payment Dates:                                          and                    
                   
   [if applicable]

     Record Dates:                     and                      [if applicable]

Additional provisions of this Note [Debenture] are set forth on the other side of this Note
[Debenture].

	 	 	 	 	 	 	 
	Attest:

	 	[SEAL]
	 	 	 	MARTIN MARIETTA MATERIALS, INC.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 	 	 	 	 
	Secretary

	 	 	 	 	 	Chief Executive Officer

 

 

Dated:

Authenticated:

This in one of the Securities of the

series designated herein and referred

to in the within-named Indenture.

                                                            ,

as Trustee

By:                                                             ,

     Authorized Officer

[If an Authenticating Agent has been

appointed insert:

This is one of the Securities referred

to in the within-mentioned Indenture.

                                                            ,

as Trustee

By:                                                            

as Authenticating Agent

By:                                                            

     Authorized Officer]

2EX-4.1

 

EXHIBIT 4.1

THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OF THE
UNITED STATES OR IN ANY OTHER JURISDICTION. THE SECURITIES REPRESENTED HEREBY MAY NOT BE OFFERED,
SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER
APPLICABLE SECURITIES LAWS UNLESS OFFERED, SOLD OR TRANSFERRED PURSUANT TO AN AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THOSE LAWS.

WOLVERINE TUBE, INC.

WARRANT

	 	 	 
	Warrant No. [          ]

	 	Date of Original Issuance ____________

     Wolverine Tube, Inc., a Delaware corporation (the “Company”), hereby certifies that in
exchange for payment in the amount of
_________
($______), _________ (the
“Holder”), is entitled to purchase, subject to the provisions of this Warrant, _________
(______) shares of the common stock (the “Common Stock”) of the Company (each such share, a
“Warrant Share” and all such shares, the “Warrant Shares”) at a purchase price of
_________ ($______) per Warrant Share (as adjusted from time to time as provided in
Section 9, the “Exercise Price”), at any time and from time to time from and after the date hereof
and through and including _________ (the “Expiration Date”), and subject to the following
terms and conditions:

     1. Definitions. In addition to the terms defined elsewhere in this Warrant, the following
capitalized terms shall have the following meanings:

          (a) “Business Day” shall mean any day except (i) Saturday, (ii) Sunday and (iii) any day which
shall be a federal legal holiday or a day on which banking institutions in the State of New York
are authorized or required by law or other governmental action to close.

          (b) “Commission” shall mean the Securities and Exchange Commission.

          (c) “Person” shall mean an individual or corporation, partnership, trust, incorporated or
unincorporated association, joint venture, limited liability company, joint stock company,
government (or an agency or subdivision thereof) or other entity of any kind.

          (d) “Rule 144” and “Rule 144(k)” shall mean Rule 144 and Rule 144(k), respectively,
promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially
the same effect as such Rule.

          (e) “Trading Day” shall mean (i) a day on which the Common Stock is traded on a Trading Market, or
(ii) if the Common Stock is not listed on a Trading Market, a day on which the Common Stock is
traded in the over-the-counter market or is quoted in the over-the-counter market as reported by
the National Quotation Bureau Incorporated (or any similar organization or agency succeeding to its
functions of reporting prices); provided, that in the

 

 

event that the Common Stock is not listed or quoted as set forth in (i) or (ii) hereof, then
Trading Day shall mean a Business Day.

          (f) “Trading Market” means whichever of the New York Stock Exchange, the American Stock
Exchange, the NASDAQ Global Market, the NASDAQ Global Select Market, the NASDAQ Capital Market, OTC
Bulletin Board or any over-the-counter market on which the Common Stock is listed or quoted for
trading on the date in question.

     2. Registration of Warrant. The Company shall register this Warrant, upon records to be
maintained by the Company for that purpose (the “Warrant Register”), in the name of the record
Holder hereof from time to time. The Company may deem and treat the registered Holder of this
Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to
the Holder, and for all other purposes, absent actual notice to the contrary.

     3. Registration of Transfers. Subject to Section 6, the Company shall register the transfer
of any portion of this Warrant in the Warrant Register, upon surrender of this Warrant, with the
Form of Assignment attached hereto duly completed and signed, and a legal opinion specifying
compliance with the legend on page 1 of this Warrant, to the Company at its address specified
herein. Upon any such registration or transfer, a new Warrant to purchase Common Stock, in
substantially the form of this Warrant (any such new Warrant, a “New Warrant”), evidencing the
portion of this Warrant so transferred shall be issued to the transferee and a New Warrant
evidencing the remaining portion of this Warrant not so transferred, if any, shall be issued to the
transferring Holder. The acceptance of the New Warrant by the transferee thereof shall be deemed
the acceptance by such transferee of all of the rights and obligations of a holder of a Warrant.

     4. Exercise and Duration of Warrants. This Warrant shall be exercisable by the registered
Holder in whole or in part at any time and from time to time on or after the date hereof to and
including the Expiration Date. At 6:00 p.m., Alabama time on the Expiration Date, the portion of
this Warrant not exercised prior thereto shall be and become void and of no value. The Company may
not call or redeem all or any portion of this Warrant without the prior written consent of the
Holder.

     5. Delivery of Warrant Shares.

          (a) To effect exercises hereunder, the Holder shall not be required to physically surrender
this Warrant unless all of the Warrant Shares then represented by this Warrant are being exercised.
Upon delivery of an “Exercise Notice” in the form attached hereto (an “Exercise Notice”) to the
Company (together with the attached “Warrant Shares Exercise Log”) at its address for notice set
forth herein and upon payment of the Exercise Price multiplied by the number of Warrant Shares that
the Holder intends to purchase hereunder or exercise of the Conversion Right pursuant to Section 10
hereof, the Company shall promptly (but in no event later than three (3) Trading Days after the
Date of Exercise (as defined herein)) issue and deliver to the Holder a certificate for the Warrant
Shares issuable upon such exercise. The certificate evidencing such Warrant Shares shall bear
restrictive legends substantially similar to those imposed on this Warrant, provided, that no such
legend shall be imposed on any such Warrant Shares (i) following a sale of such Warrant Shares
pursuant to an effective registration statement,

2

 

(ii) following a sale of such Warrant Shares pursuant to Rule 144, (iii) while such Warrant
Shares are eligible for sale under Rule 144(k), or (iv) if such a legend is not required under
applicable requirements of the Securities Act (including judicial interpretations and
pronouncements issued by the Commission). Following such time as restrictive legends are not
required to be placed on certificates representing Warrant Shares, the Company will, no later than
three (3) Trading Days following the delivery by the holder thereof to the Company or the Company’s
transfer agent of a certificate representing such Warrant Shares containing a restrictive legend,
deliver or cause to be delivered to such holder thereof a certificate representing such Warrant
Shares that is free from all restrictive and other legends. The Company shall, upon request of the
Holder and subsequent to the date on which a registration statement covering the resale of the
Warrant Shares has been declared effective by the Commission, use its best efforts to deliver
Warrant Shares hereunder electronically through the Depository Trust Corporation or another
established clearing corporation performing similar functions, if available, provided, that the
Company may, but will not be required to, change its transfer agent if its current transfer agent
cannot deliver Warrant Shares electronically through the Depository Trust Corporation. A “Date of
Exercise” means the date on which the Holder shall have delivered to the Company: (i) the Exercise
Notice (with the attached Warrant Shares Exercise Log), appropriately completed and duly signed and
(ii) payment in full of the Exercise Price for the number of Warrant Shares so indicated by the
Holder to be purchased or exercise of the Conversion Right pursuant to Section 10 hereof.

          (b) If by the third (3rd) Trading Day after a Date of Exercise the Company fails to deliver
the required number of Warrant Shares in the manner required pursuant to Section 5(a), then the
Holder will have the right to rescind such exercise.

          (c) If by the third (3rd) Trading Day after a Date of Exercise the Company fails to deliver
the required number of Warrant Shares in the manner required pursuant to Section 5(a), and if after
such third (3rd) Trading Day and prior to the receipt of such Warrant Shares, the Holder purchases
in a bona fide arm’s length transaction for fair market value (in an open market transaction or
otherwise) shares of Common Stock necessary to deliver in satisfaction of a bona fide arm’s length
sale for fair market value by the Holder of the Warrant Shares which the Holder was entitled to
receive upon such exercise (a “Buy-In”), then the Company shall (1) pay in cash to the Holder the
amount by which (x) the Holder’s total purchase price (including brokerage commissions, if any) for
the shares of Common Stock so purchased exceeds (y) the Holder’s total proceeds from such sale
(after brokerage commissions, if any) of the shares, and (2) at the option of the Holder, either
reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such
exercise was not honored or deliver to the Holder the number of shares of Common Stock that would
have been issued had the Company timely complied with its exercise and delivery obligations
hereunder. The Holder shall provide the Company written notice and reasonably detailed
documentation indicating the amounts payable to the Holder in respect of the Buy-In.

          (d) The Company’s obligations to issue and deliver Warrant Shares in accordance with the terms
hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to
enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any
judgment against any Person or any action to enforce the same, or any setoff, counterclaim,
recoupment, limitation or termination, or any breach or alleged breach

3

 

by the Holder or any other Person of any obligation to the Company or any violation or alleged
violation of law by the Holder or any other Person, and irrespective of any other circumstance
which might otherwise limit such obligation of the Company to the Holder in connection with the
issuance of Warrant Shares. Nothing herein shall limit a Holder’s right to pursue any other
remedies available to it hereunder, at law or in equity including, without limitation, a decree of
specific performance and/or injunctive relief with respect to the Company’s failure to timely
deliver certificates representing shares of Common Stock upon exercise of the Warrant as required
pursuant to the terms hereof.

     6. Charges, Taxes and Expenses. Issuance and delivery of certificates for shares of Common
Stock upon exercise of this Warrant shall be made without charge to the Holder for any issue or
transfer tax, withholding tax, transfer agent fee or other incidental tax or expense in respect of
the issuance of such certificates, all of which taxes and expenses shall be paid by the Company;
provided, however, that the Company shall not be required to pay any tax which may be payable in
respect of any transfer involved in the registration of any certificates for Warrant Shares or
Warrants in a name other than that of the Holder. The Holder shall be responsible for all other tax
liability that may arise as a result of holding or transferring this Warrant or receiving Warrant
Shares upon exercise hereof.

     7. Replacement of Warrant. If this Warrant is mutilated, lost, stolen or destroyed, the
Company shall issue or cause to be issued in exchange and substitution for and upon cancellation
hereof, or in lieu of and substitution for this Warrant, a New Warrant, but only upon receipt of
evidence reasonably satisfactory to the Company of such loss, theft or destruction and customary
and reasonable indemnity (which shall not include a surety bond), if requested. Applicants for a
New Warrant under such circumstances shall also comply with such other reasonable regulations and
procedures and pay such other reasonable third-party costs as the Company may prescribe. If a New
Warrant is requested as a result of a mutilation of this Warrant, then the Holder shall deliver
such mutilated Warrant to the Company as a condition precedent to the Company’s obligation to issue
the New Warrant.

     8. Reservation of Warrant Shares.

          (a) Subject to paragraph (b) below, the Company covenants that it will at all times reserve
and keep available out of the aggregate of its authorized but unissued and otherwise unreserved
Common Stock, solely for the purpose of enabling it to issue Warrant Shares upon exercise of this
Warrant as herein provided, the number of Warrant Shares which are then issuable and deliverable
upon the exercise of this Warrant, free from preemptive rights or any other contingent purchase
rights of Persons other than the Holder (taking into account the adjustments and restrictions of
Section 9). The Company covenants that all Warrant Shares so issuable and deliverable shall, upon
issuance and the payment of the applicable Exercise Price in accordance with the terms hereof, be
duly and validly authorized and issued and fully paid and nonassessable.

          (b) As of the date hereof, the Company does not have sufficient shares of its Common Stock
authorized and unreserved for purposes of this Section 8. However, the Company has proposed an
amendment to its Restated Certificate of Incorporation to be submitted at its annual meeting of
shareholders to increase the authorized number of shares of its

4

 

Common Stock in order to enable it to reserve adequate shares of Common Stock to issue the
Warrant Shares upon exercise of this Warrant, and the Company shall use its best efforts to cause
such increase in the authorized number of shares of its Common Stock and upon such increase reserve
adequate shares of Common Stock to issue the Warrant Shares.

     9. Certain Adjustments. The Exercise Price and number of Warrant Shares issuable upon
exercise of this Warrant are subject to adjustment from time to time as set forth in this Section
9.

          (a) Stock Dividends and Splits. If the Company, at any time while this Warrant is
outstanding, (i) pays a stock dividend on its Common Stock or otherwise makes a distribution on any
class of capital stock that is payable in shares of Common Stock, (ii) subdivides outstanding
shares of Common Stock into a larger number of shares, or (iii) combines outstanding shares of
Common Stock into a smaller number of shares, then in each such case the Exercise Price shall be
multiplied by a fraction of which the numerator shall be the number of shares of Common Stock
outstanding immediately before such event and of which the denominator shall be the number of
shares of Common Stock outstanding immediately after such event. Any adjustment made pursuant to
clause (i) of this paragraph shall become effective immediately after the record date for the
determination of stockholders entitled to receive such dividend or distribution, and any adjustment
pursuant to clause (ii) or (iii) of this paragraph shall become effective immediately after the
effective date of such subdivision or combination. If any event requiring an adjustment under this
paragraph occurs during the period that an Exercise Price is calculated hereunder, then the
calculation of such Exercise Price shall be adjusted appropriately to reflect such event.
Simultaneously with any adjustment to the Exercise Price pursuant to this paragraph (a), the number
of Warrant Shares that may be purchased upon exercise of this Warrant shall be increased or
decreased proportionately, so that after such adjustment the aggregate Exercise Price payable
hereunder for the adjusted number of Warrant Shares shall be the same as the aggregate Exercise
Price in effect immediately prior to such adjustment.

          (b) Adjustments to Exercise Price for Certain Dilutive Issuances.

               (i) Adjustments for Issuance of Additional Shares of Common Stock. If the Company, at any
time after the Date of Original Issuance, shall issue any Additional Shares of Common Stock (as
such term is defined below) at a price per share less than the Exercise Price, or without
consideration, then the applicable Exercise Price in effect immediately prior to such issuance
shall automatically be adjusted to that price (rounded to the nearest cent) determined by
multiplying the applicable Exercise Price then in effect by a fraction, (i) the numerator of which
shall be equal to the sum of (A) the number of shares of Common Stock outstanding or deemed
outstanding pursuant to paragraph (b)(ii) below (the “Fully Diluted Outstanding Common Stock”)
immediately prior to the issuance of such Additional Shares of Common Stock plus (B) the number of
shares of Common Stock (rounded to the nearest whole share) which the aggregate consideration for
the total number of such Additional Shares of Common Stock so issued would purchase at a price per
share equal to the applicable Exercise Price then in effect, and (ii) the denominator of which
shall be equal to the number of shares of Fully Diluted Common Stock plus the number of such
Additional Shares of Common Stock. Simultaneously with any adjustment in the Exercise Price
pursuant to this paragraph (b), the

5

 

number of Warrant Shares that may be purchased upon exercise of this Warrant shall be
increased or decreased proportionately, so that after such adjustment the aggregate Exercise Price
payable hereunder for the adjusted number of Warrant Shares shall be the same as the aggregate
Exercise Price in effect immediately prior to such adjustment. The provisions of this paragraph (b)
shall not apply under any of the circumstances for which an adjustment is provided in paragraph (a)
above. No adjustment of the applicable Exercise Price shall be made under this paragraph (b) upon
the issuance of any Additional Shares of Common Stock which are issued pursuant to any rights,
options or warrants (other than as excluded by paragraph (b)(iii) below) to subscribe for, purchase
or otherwise acquire either Common Stock or Convertible Securities (as such term is defined below)
(collectively, “Options”) or securities (other than as excluded by paragraph (b)(iii) below)
convertible, either directly or indirectly, into or exchangeable for Common Stock (“Convertible
Securities”), if upon the issuance of such Options or Convertible Securities (x) any adjustment
shall have been made pursuant to paragraph (b)(ii) below or (y) no adjustment was required pursuant
to this paragraph (b)(i). No adjustment of the applicable Exercise Price shall be made under this
paragraph (b)(i) in an amount less than $.01 per share, but any such lesser adjustment shall be
carried forward and shall be made at the time and together with the next subsequent adjustment, if
any, which together with any adjustments so carried forward shall amount to $.01 per share or more;
provided, that upon any adjustment of the applicable Exercise Price as a result of any dividend or
distribution payable in Common Stock or Convertible Securities or the reclassification, subdivision
or combination of Common Stock into a greater or smaller number of shares, the foregoing figure of
$.01 per share (or such figure as last adjusted) shall be adjusted (to the nearest one-half cent)
in proportion to the adjustment in the applicable Exercise Price.

               (ii) Deemed Issuances of Common Stock. In the case of the issuance (whether before, on or
after the Date of Original Issuance) of Options or Convertible Securities, the following provisions
shall apply for all purposes of this paragraph (b):

                    (1) The aggregate maximum number of shares of Common Stock deliverable upon exercise (assuming
the satisfaction of any conditions to exercisability, including without limitation, the passage of
time, but without taking into account potential antidilution adjustments) of such Options shall be
deemed to have been issued at the time such Options were issued and for a consideration equal to
the consideration (determined in the manner provided in paragraph (b)(iv) below), if any, received
by the Company upon the issuance of such Options (without taking into account potential
antidilution adjustments) plus the minimum exercise price provided in such Options for the Common
Stock covered thereby.

                    (2) The aggregate maximum number of shares of Common Stock deliverable upon conversion of or
in exchange for (assuming the satisfaction of any conditions to exercisability, including without
limitation, the passage of time, but without taking into account potential antidilution
adjustments) any such Convertible Securities or upon the exercise of Options therefor and
subsequent conversion or exchange thereof shall be deemed to have been issued at the time such
Convertible Securities were issued or such Options were issued and for a consideration equal to the
consideration, if any, received by the Company for any such Convertible Securities or related
Options (excluding any cash received on account of accrued interest or accrued dividends), plus the
minimum additional consideration, if any, to be received by the Company (without taking into
account potential antidilution adjustments) upon the

6

 

conversion or exchange of such Convertible Securities or the exercise of any related Options
(the consideration in each case to be determined in the manner provided in paragraph (b)(iv)
below).

                    (3) In the event of any change in the number of shares of Common Stock deliverable or in the
consideration payable to the Company upon exercise of such Options or upon conversion of or in
exchange for such Convertible Securities, including, but not limited to, a change resulting from
the antidilution provisions thereof, the Exercise Price, to the extent in any way affected by or
computed using such Options or Convertible Securities, shall be recomputed to reflect such change,
but no further adjustment shall be made for the actual issuance of Common Stock or any payment of
such consideration upon the exercise of any such Options or the conversion or exchange of such
Convertible Securities.

                    (4) Upon the expiration of such Options, the termination of any such rights to convert or
exchange or the expiration of any Options related to such Convertible Securities, the Exercise
Price shall, to the extent in any way affected by or computed using such Options or Convertible
Securities or Options related to such Convertible Securities, be recomputed to reflect the issuance
of only the number of shares of Common Stock (and Convertible Securities which remain in effect)
actually issued upon the exercise of such Options, upon the conversion or exchange of such
Convertible Securities or upon the exercise of the Options related to such Convertible Securities.

                    (5) The number of shares of Common Stock deemed issued and the consideration deemed paid
therefor pursuant to paragraphs (b)(ii)(1) and (b)(ii)(2) above shall be appropriately adjusted to
reflect any change, termination or expiration of the type described in paragraphs (b)(ii)(3) and
(b)(ii)(4) above.

               (iii) Definition of Additional Shares of Common Stock. As used herein, the term “Additional
Shares of Common Stock” shall mean all shares of Common Stock issued (or deemed to be issued) by
the Company after the Date of Original Issuance, other than shares of Common Stock issued (or
deemed to be issued):

                    (1) to employees, consultants or directors pursuant to stock option, stock grant, stock
purchase or similar plans or arrangements approved by the Company’s Board of Directors;

                    (2) as a dividend or other distribution in connection with which an adjustment to the Warrant
Exercise Price is made;

                    (3) in a merger, consolidation, acquisition or similar business combination that is approved
by the Company’s Board of Directors;

                    (4) in exchange for technology or other non-cash assets as approved by the Company’s Board of
Directors;

                    (5) pursuant to any rights or agreements outstanding on the Date of Original Issuance;

7

 

                    (6) to Persons with which the Company has business or banking relationships, provided that
such issuance is approved by the Company’s Board of Directors and is not primarily for capital
raising purposes; or

                    (7) if the Holder agrees in writing that such shares shall not constitute Additional Shares of
Common Stock.

               (iv) Determination of Consideration. For purposes of this paragraph (b) the consideration
received by the Company for any Additional Shares of Common Stock issued (or deemed to be issued)
shall be computed as follows:

                    (1) Cash and Property. Such consideration shall:

                         a. insofar as it consists of cash, be computed at the aggregate amount of cash received by the
Company;

                         b. insofar as it consists of securities and the value of such securities is not determinable
by reference to a separate agreement, (A) if the securities are then listed on a national
securities exchange, or quoted on the NASDAQ Global Market, NASDAQ Global Select Market or NASDAQ
Capital Market, then the value shall be computed based on the average of the closing prices of the
securities on the principal trading market for such securities over the thirty (30)-day period
ending on the date of receipt by the Company, (B) if the securities are not then listed on a
national securities exchange, or quoted on the NASDAQ Global Market, NASDAQ Global Select Market or
NASDAQ Capital Market but are actively traded over-the-counter, then the value shall be computed
based on the average of the last bid prices for the securities over the thirty (30)-day period
ending on the date of receipt by the Company, and (C) if the value cannot be determined pursuant to
clause (A) or (B) above, then the value shall be computed based on the fair market value thereof on
the date of receipt by the Company, as determined in good faith by the Board of Directors;

                         c. insofar as it consists of property other than cash and securities, be computed at the fair
market value thereof at the time of such issuance, as determined in good faith by the Board of
Directors; and

                         d. if Additional Shares of Common Stock are issued (or deemed to be issued) together with
other shares or securities or other assets of the Company for consideration which cover both, by
the proportion of such consideration so received, computed as provided in the immediately preceding
paragraphs (a), (b) and (c), as determined in good faith by the Board of Directors; and

                    (2) Options and Convertible Securities. The consideration received by the Company for
Additional Shares of Common Stock deemed to have been issued pursuant to this paragraph (b)
relating to Option and Convertible Securities, shall be the sum of (x) the total amount, if any,
received or receivable by the Company as consideration for the issue of such Options or Convertible
Securities, plus (y) the minimum aggregate amount of additional consideration (as set forth in the
instruments relating thereto, without regard to any provision contained therein for a subsequent
adjustment of such consideration) payable to the Company upon the exercise of such Options or the
conversion or exchange of such Convertible Securities,

8

 

or in the case of Options for Convertible Securities, the exercise of such Options for
Convertible Securities and the conversion or exchange of such Convertible Securities.

               (v) No Increase in Exercise Price. Notwithstanding any other provisions of this paragraph (b),
except to the limited extent provided for in paragraphs (b)(ii)(4) and (b)(ii)(5) above, no
adjustment of the Exercise Price pursuant to this paragraph (b) shall have the effect of increasing
the Exercise Price above the Exercise Price in effect immediately prior to such adjustment.

          (c) Calculations. All calculations under this Section 9 shall be made to the nearest cent or
the nearest 1/100th of a share, as applicable. The number of shares of Common Stock outstanding at
any given time shall not include shares owned or held by or for the account of the Company, and the
disposition of any such shares shall be considered an issue or sale of Common Stock.

          (d) Notice of Adjustments. Upon the occurrence of each adjustment pursuant to this Section 9,
the Company at its expense will promptly compute such adjustment in accordance with the terms of
this Warrant and prepare a certificate setting forth such adjustment, including a statement of the
adjusted Exercise Price and adjusted number or type of Warrant Shares or other securities issuable
upon exercise of this Warrant (as applicable), describing the transactions giving rise to such
adjustments and showing in detail the facts upon which such adjustment is based. Upon written
request, the Company will promptly deliver a copy of each such certificate to the Holder and to the
Company’s transfer agent.

          (e) Adjustment for Reorganization, Consolidation or Merger. In case of any reorganization of
the Company (or of any other corporation, the stock or other securities of which are at the time
receivable on the exercise of this Warrant) after the Date of Original Issuance, or in case, after
such date, the Company (or any such corporation) shall consolidate with or merge into another
corporation or convey all or substantially all of its assets to another corporation or other
entity, then, and in each such case, the Holder, upon exercise of this Warrant, at any time after
the consummation of such reorganization, consolidation, merger or conveyance, shall be entitled to
receive, in lieu of the stock or other securities and property receivable upon the exercise of this
Warrant prior to such consummation, the stock or other securities or property to which such Holder
would have been entitled upon the consummation of such reorganization, consolidation, merger or
conveyance if such Holder had exercised this Warrant immediately prior thereto, all subject to
further adjustment as provided in this Section 9, and the successor or purchasing corporation or
other entity in such reorganization, consolidation, merger or conveyance (if other than the
Company) shall duly execute and deliver to the Holder a supplement hereto acknowledging such
corporation’s or entity’s obligations under this Warrant; and in each such case, the terms of this
Warrant (including the exercisability, transfer and adjustment provisions of this Warrant) shall be
applicable to the shares of stock or other securities or property receivable upon the exercise of
this Warrant after the consummation of such reorganization, consolidation, merger or conveyance.

     10. Payment of Exercise Price. The Holder shall pay the Exercise Price by delivering to the
Company immediately available funds. In lieu of the payment of the Exercise Price in cash, the
registered holder of the Warrant shall have the right (but not the obligation) to require the
Company to convert any exercisable but unexercised portion of the Warrant (the

9

 

“Conversion Right”), in whole but not in part, into the shares of Common Stock as provided for
in this subsection (the “Net Exercise Shares”). Upon exercise of the Conversion Right, the Company
shall deliver to the registered holder thereof (without payment in cash of the Exercise Price) that
number of Net Exercise Shares equal to (i) the number of shares of Common Stock issuable upon
exercise of the portion of the Warrant being converted, multiplied by (ii) the quotient obtained by
dividing (x) the value of the Warrant (on a per share basis) at the time the Conversion Right is
exercised (determined by subtracting the Exercise Price (as adjusted) from the average Current
Market Price (as defined below) for the 10 Trading Days ending on the Trading Day immediately prior
to the effective date of the Exercise Notice) by (y) the average Current Market Price of one share
of Common Stock for the 10 Trading Days ending on the Trading Day immediately prior to the
effective date of the Exercise Notice. The “Current Market Price” of a share of Common Stock shall
mean (i) if the Common Stock is listed on a national securities exchange, or quoted on the NASDAQ
Global Market, NASDAQ Global Select Market, or NASDAQ Capital Market, the last closing price of the
Common Stock in the principal Trading Market for the Common Stock as reported by such principal
Trading Market; (ii) if the Common Stock is not listed on a national securities exchange or quoted
on the NASDAQ Global Market, NASDAQ Global Select Market, NASDAQ Capital Market, but is traded in
the OTC Bulletin Board (or successor trading market) or other over-the-counter market, the last bid
price for the Common Stock; and (iii) if the fair market value of the Common Stock cannot be
determined pursuant to clause (i) or (ii) above, such price as the Board of Directors of the
Company shall determine, in good faith after taking into consideration factors it deems
appropriate, including, without limitation, recent sale and offer prices of the capital stock of
the Company in private transactions negotiated at arm’s length.

     11. No Fractional Shares. No fractional shares of Warrant Shares will be issued in connection
with any exercise of this Warrant. In lieu of any fractional shares which would otherwise be
issuable, the Company shall pay cash equal to the product of such fraction multiplied by the
closing price of one Warrant Share as reported by the applicable Trading Market on the date of
exercise.

     12. No Shareholder Rights. The Holder of this Warrant shall not have, solely on account of
such status, any rights of a stockholder of the Company, either at law or in equity, or to any
notice of meetings of shareholders or of any other proceedings of the Company, except as provided
in this Warrant. Without limiting the generality of the foregoing, and except as otherwise provided
herein, no dividends shall accrue to the Warrant Shares underlying this Warrant until the exercise
hereof and the purchase of the underlying Warrant Shares, at which point dividends shall begin to
accrue with respect to such purchased Warrant Shares from and after the date such Warrant Shares
are so purchased.

     13. Piggyback Registration.

          (a) If the Company proposes to register any of its stock or other securities under the
Securities Act of 1933 (the “Act”) (other than a registration on Form S-8 or any successor form
thereto relating solely to the sale of securities of participants in a Company stock plan, a
registration on Form S-4 or any successor form thereto relating to a corporate reorganization or
transaction under Rule 145 of the Act, a registration on any form that does not include
substantially the same information as would be required to be included in a registration

10

 

statement covering the sale of the Warrant Shares, or a registration in which the only
securities being registered are securities issuable upon conversion of debt), the Company shall
promptly give the Holder written notice of its intention to effect such registration. Upon the
written request of the Holder for inclusion in such registration given within twenty (20) days
after effectiveness of such notice by the Company in accordance with Section 15, the Company shall,
subject to the provisions of Section 13(c), at the Company’s expense use all commercially
reasonable efforts to cause to be included in such registration under the Act the Warrant Shares
that each such Holder requests to be registered and shall use commercially reasonable efforts to
cause such registration statement to become effective.

          (b) Right to Terminate or Suspend Registration. The Company shall have the right to terminate
or withdraw any registration initiated by it prior to the effectiveness of such registration
whether or not any Holder has elected to include securities in such registration. After such
registration statement becomes effective, the Company shall use commercially reasonable efforts to
cause such registration statement to remain effective until the earlier to occur of the date the
Warrant Shares so registered have been sold or the Warrant Shares so registered may be sold under
Rule 144(k). Following the effectiveness of such registration statement, the Company may, at any
time, suspend the effectiveness of such registration for up to 60 days, as appropriate, by giving
notice to the Holders if the Company shall have determined that the Company may be required to
disclose any material corporate development which disclosure may have a material adverse effect on
the Company. The Company shall use its best efforts to limit the duration and number of any
suspension periods.

          (c) Underwriting Requirements. In connection with any offering involving an underwriting of
shares of the Company’s capital stock, the Company shall not be required under this Section 13 to
include the Warrant or Warrant Shares in such underwriting unless the Holder accepts the terms of
the underwriting as agreed upon between the Company and the underwriters selected by the Company
(or by other Persons entitled to select the underwriters) and enter into an underwriting agreement
in customary form with such underwriters, and then only in such quantity as the underwriters
determine in their sole discretion will not jeopardize the success of the offering by the Company.

     14. Holder Representations. The Company is issuing this Warrant to Holder, and any and all
Warrant Stock to Holder, in reliance upon the following representations made by Holder, as of the
date of this Warrant, and the date of each exercise of this Warrant:

          (a) Holder is an “accredited investor” within the meanings set forth in Regulation D of the
Securities Act of 1933, as amended.

          (b) Holder (i) has had, and continues to have, access to detailed information with respect to
the business, financial condition, results of operations and prospects of the Company; (ii) has
received or has been provided access to all material information concerning an investment in the
Company; and (iii) has been given the opportunity to obtain any additional information or documents
from, and to ask questions and receive answers of the officers, directors and representatives of
the Company to the extent necessary to evaluate the merits and risks related to an investment in
the Company represented by the Warrant and Warrant Stock.

11

 

          (c) As a result of Holder’s study of the aforementioned information and Holder’s prior overall
experience in financial matters, and Holder’s familiarity with the nature of businesses such as the
Company, Holder is properly able to evaluate the capital structure of the Company, the business of
the Company, and the risks inherent therein.

          (d) Holder’s investment in the Company pursuant to this Warrant and Warrant Stock is
consistent, in both nature and amount, with Holder’s overall investment program and financial
condition.

          (e) Holder’s financial condition is such that Holder can afford to bear the economic risk of
holding the Warrant and Warrant Stock and to suffer a complete loss of Holder’s investment in the
Company represented by the Warrant or Warrant Stock.

     15. Notices. Any and all notices or other communications or deliveries hereunder (including,
without limitation, any Exercise Notice) shall be in writing and shall be deemed given and
effective on the earliest of (i) the date of transmission, if such notice or communication is
delivered via facsimile at the facsimile number specified in this Section prior to 6:30 p.m. (New
York City time) on a Trading Day, (ii) the next Trading Day after the date of transmission, if such
notice or communication is delivered via facsimile at the facsimile number specified in this
Section on a day that is not a Trading Day or later than 6:30 p.m. (New York City time) on any
Trading Day, (iii) the Trading Day following the date of mailing, if sent by nationally recognized
overnight courier service, or (iv) upon actual receipt by the party to whom such notice is required
to be given. The addresses for such communications shall be as follows:

          (a) if to the Company: Wolverine Tube, Inc., 200 Clinton Avenue West, Suite 1000, Huntsville,
Alabama 35801, Attention James E. Deason.

          (b) if to the Holder: to the address or facsimile number appearing on the Warrant Register or
such other address or facsimile number as the Holder may provide to the Company in accordance with
this Section.

     16. Warrant Agent. The Company shall serve as warrant agent under this Warrant. Upon 30 days’
notice to the Holder, the Company may appoint a new warrant agent. Any corporation into which the
Company or any new warrant agent may be merged or any corporation resulting from any consolidation
to which the Company or any new warrant agent shall be a party or any corporation to which the
Company or any new warrant agent transfers substantially all of its corporate trust or shareholders
services business shall be a successor warrant agent under this Warrant without any further act.
Any such successor warrant agent shall promptly cause notice of its succession as warrant agent to
be mailed (by first class mail, postage prepaid) to the Holder at the Holder’s last address as
shown on the Warrant Register.

     17. Miscellaneous.

          (a) This Warrant shall be binding on and inure to the benefit of the parties hereto and their
respective successors and assigns. Subject to the preceding sentence, nothing in this Warrant shall
be construed to give to any Person other than the Company and the Holder any legal or equitable
right, remedy or cause of action under this Warrant. This Warrant may be

12

 

amended only in writing signed by the Company and the Holder and their successors and assigns.

          (b) All questions concerning the construction, validity, enforcement and interpretation of
this Warrant shall be governed by and construed in accordance with the internal laws of the State
of Delaware applicable to contracts made and to be performed in the State of Delaware. Company
irrevocably consents to the jurisdiction of the United States federal courts and the state courts
in the applicable jurisdiction of Huntsville, Alabama, in any suit or proceeding based on or
arising under this Warrant and irrevocably agrees that all claims in respect of such suit or
proceeding may be determined in such courts. Borrower irrevocably waives the defense of an
inconvenient forum to the maintenance of such suit or proceeding in such forum. Company further
agrees that service of process upon Company mailed by first class mail shall be deemed in every
respect effective service of process upon Company in any such suit or proceeding. Nothing herein
shall affect the right of Holder to serve process in any other manner permitted by law. Company
agrees that a final non-appealable judgment in any such suit or proceeding shall be conclusive and
may be enforced in other jurisdictions by suit on such judgment or in any other lawful manner.

          (c) The headings herein are for convenience only, do not constitute a part of this Warrant and
shall not be deemed to limit or affect any of the provisions hereof.

          (d) In case any one or more of the provisions of this Warrant shall be invalid or
unenforceable in any respect, the validity and enforceability of the remaining terms and provisions
of this Warrant shall not in any way be affected or impaired thereby and the parties will attempt
in good faith to agree upon a valid and enforceable provision which shall be a commercially
reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision
in this Warrant.

     IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by its
authorized officer as of the date first indicated above

	 	 	 	 	 
	 	WOLVERINE TUBE, INC.

 	 
	 	By:  	 	 

	 	 	 	 	 
	 	 	 
	 	Name:  	
 	 

	 	 	 	 	 
	 	 	 
	 	Its:  	
 	 
	 	 	 	 
	 	 	 	 

13

 

	 	 	 	 	 

WOLVERINE TUBE, INC.

WARRANT EXERCISE NOTICE

	 	 	 
	Warrant No. [           ]

	 	Date of Original Issuance: _______________

To Wolverine Tube, Inc.:

     The
undersigned hereby irrevocably elects to purchase ______ shares of Common Stock
pursuant to the above captioned Warrant.

	 	 	 
	 ̈

	 	Enclosed herewith is $___in cash, certified or official bank
check or checks or other immediately available funds, which sum
represents the aggregate Exercise Price (as defined in the
Warrant) for the number of shares of Common Stock to which this
Exercise Notice relates, together with any applicable taxes
payable by the undersigned pursuant to the Warrant.
	 
	 	 
	 ̈

	 	The undersigned wishes to engage in a cashless exercise pursuant
to Section 10 of this Warrant.

     The undersigned requests that certificates for the shares of Common Stock issuable upon this
exercise be issued in the name as follows (Please print name, address, and EIN):

 

 

 

	 	 	 	 	 
	 	HOLDER

 	 
	 	Entity Name:  	 	 

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 

	 	 	 	 	 
	 	 	 
	 	Name:  	
 	 

	 	 	 	 	 
	 	 	 
	 	Its:  	
 	 
	 	 	 	 
	 	 	 	 

A-1

 

	 	 	 	 	 

WARRANT SHARES EXERCISE LOG

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Number of Warrant
	 	 	Number of Warrant Shares	 	Number of Warrant	 	Shares Remaining to
	Date	 	Available to be Exercised	 	Shares Exercised	 	be Exercised
	

	 	 		 	 	 		 	 	 		 

A-2

 

WOLVERINE TUBE, INC.

FORM OF ASSIGNMENT

	 	 	 
	Warrant No. [            ]

	 	Date of Original Issuance: ____________

     For value received, the undersigned hereby sells, assigns and transfers unto
___ the right represented by the above-captioned Warrant to purchase
___ shares of Common Stock to which such Warrant relates and appoints ___
attorney to transfer said right on the books of the Company with full power of substitution in the
premises.

Dated: _____________ __, 20__

	 	 	 	 	 
	 	HOLDER

 	 
	 	Entity Name:  	 	 

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 

	 	 	 	 	 
	 	 	 
	 	Name:  	
 	 

	 	 	 	 	 
	 	 	 
	 	Its:  	
 	 
	 	 	 	 
	 	 	 	 
	 

(Signature must conform in all respects to name of holder as specified on the face of the Warrant)

     Address of Transferee:

 

 

 

B-1

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