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Exhibit 4.1.4  

EXECUTION VERSION  

 
 

FOURTH SUPPLEMENTAL INDENTURE    
    

DATED AS OF AUGUST 22, 2007 

to
the 

INDENTURE 

dated
as of May 7, 2007 

between 

EDISON MISSION ENERGY

and

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as
Trustee 

 

        FOURTH
SUPPLEMENTAL INDENTURE, dated as of August 22, 2007 (this "Fourth Supplemental Indenture"), to the Indenture, dated as of
May 7, 2007 (the "Original Indenture"), between EDISON MISSION ENERGY, a Delaware corporation (the
"Company"), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association (the "Trustee"). 

        WHEREAS,
the Company and the Trustee have heretofore executed and delivered the Original Indenture; 

        WHEREAS,
Section 7.1(d) of the Original Indenture provides that the Company and the Trustee may amend or supplement the Original Indenture without the consent of any Holders of
Notes, among other things, to cure, correct or supplement any provision in the Original Indenture which may be defective, provided that such provision shall not adversely affect the interests of any
of the Holders of Notes in any material respect; 

        WHEREAS,
there exists an error (the "Error") as follows: Section 3.5(iii) of the Original Indenture specifies that "10%" is
the percentage of Consolidated Net Tangible Assets under which the Company is permitted to incur other liens. This is inconsistent with the Section labeled "Description of the
Notes—Covenants—certain covenants—Restrictions on liens" sub-clause (3) of the confidential offering memorandum for the Company's $2,700,000,000
Senior Secured Notes, dated May 1, 2007 (the "Offering Memorandum") in which "15%" is specified as the percentage of Consolidated Net Tangible
Assets under which the Company is permitted to incur other liens; 

        WHEREAS,
the Company has been authorized by resolutions of its board of directors to enter into this Fourth Supplemental Indenture; and 

        WHEREAS,
all acts, conditions, proceedings and requirements necessary to make this Fourth Supplemental Indenture a valid, binding and legal agreement enforceable in accordance with its
terms for the purposes expressed herein, in accordance with its terms, have been duly complied with and performed.. 

        NOW,
THEREFORE, THIS FOURTH SUPPLEMENTAL INDENTURE WITNESSETH: 

        In
consideration of the premises and agreements contained herein, and for other good and valuable consideration the receipt of which is hereby acknowledged, the Company and the Trustee
hereby agree as follows: 

ARTICLE I.  

DEFINITIONS

        (a)   Capitalized
terms used herein and not otherwise defined herein shall have the respective meanings ascribed thereto in the Original Indenture. 

        (b)   The
rules of interpretation set forth in the Original Indenture shall be applied hereto as if set forth in full herein. 

ARTICLE II.  

AMENDMENT

        SECTION
2.1    Amending the Error.    

        Pursuant
to Section 7.1(d) of the Original Indenture and in order to correct the Error, Section 3.5(iii) of the Original Indenture is hereby amended such that "other
liens not to exceed 10% of Consolidated Net Tangible Assets" therein is hereby replaced with "other liens not to exceed 15% of Consolidated Net Tangible Assets". 

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ARTICLE III.  

MISCELLANEOUS

        SECTION
3.1    Execution of Supplemental Indenture.    

        Except
as amended herein, the Original Indenture is in all respects ratified and confirmed and all the terms thereof shall remain in full force and effect. This Fourth Supplemental
Indenture is executed and shall be construed as an indenture supplemental to the Original Indenture and, as provided in the Original Indenture, this Fourth Supplemental Indenture forms a part thereof. 

        SECTION
3.2    Concerning the Trustee.    

        The
recitals contained herein, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no
representations as to the validity or sufficiency of this Fourth Supplemental Indenture. 

        SECTION
3.3    Counterparts.    

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

        SECTION
3.4    GOVERNING LAW.    

        THIS
FOURTH SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

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        IN
WITNESS WHEREOF, the parties have caused this Fourth Supplemental Indenture to be duly executed by their respective officers thereunto duly authorized as of the date first above
written. 

	 	 	EDISON MISSION ENERGY
	

 	
 	

By:	

/s/  STEVEN D. EISENBERG      

	 	 	 	Name:	Steven D. Eisenberg
	 	 	 	Title:	Vice President
	

 	
 	

WELLS FARGO BANK, NATIONAL

ASSOCIATION, as Trustee
	

 	
 	

By:	

/s/  MADDY HALL      

	 	 	 	Name:	Maddy Hall
	 	 	 	Title:	Assistant Vice President

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Exhibit 4.2  

EXECUTION COPY  

$ 2,700,000,000  

 Edison Mission Energy  

 $1,200,000,000 7.00% Senior Notes due 2017

$800,000,000 7.20% Senior Notes due 2019

$700,000,000 7.625% Senior Notes due 2027  

 
 

REGISTRATION RIGHTS AGREEMENT    
    

May 7,
2007 

Citigroup
Global Markets Inc.

As representative of the Initial Purchasers

listed in Schedule A hereto

        390 Greenwich Street

        New York, NY 10013 

Dear
Sirs: 

        Edison
Mission Energy, a Delaware corporation (the "Issuer"), proposes to issue and sell to the several initial purchasers named on  Schedule A hereto (the
"Initial Purchasers"), upon the terms set forth in a purchase agreement,
dated as of May 1, 2007 (the "Purchase Agreement"), $1,200,000,000 aggregate principal amount of its 7.00% Senior Notes due 2017 (the
"2017 Notes"), $800,000,000 aggregate principal amount of its 7.20% Senior Notes due 2019 (the "2019
Notes") and $700,000,000 aggregate principal amount of its 7.625% Senior Notes due 2027 (the "2027 Notes" and, together with the
2017 and the 2019 Notes, the "Initial Securities"). The Initial Securities will be issued pursuant to an Indenture, dated of even date herewith (the
"Indenture"), between the Issuer and Wells Fargo Bank, National Association (the "Trustee") and, in the
case of the 2017 Notes, the First Supplemental Indenture, dated of even date herewith, between the Issuer and the Trustee and, in the case of the 2019 Notes, the Second Supplemental Indenture, dated
of even date herewith, between the Issuer and the Trustee and, in the case of the 2027 Notes, the Third Supplemental Indenture, dated of even date herewith, between the Issuer and the Trustee. As an
inducement to the Initial Purchasers, the Issuer agrees with the Initial Purchasers, for the benefit of the holders of the Initial Securities (including, without limitation, the Initial Purchasers),
the Exchange Securities (as defined below) and the Private Exchange Securities (as defined below) (collectively, the "Holders"), as follows: 

        1.    Registered Exchange Offer.    The Issuer shall, at its own cost, prepare and, not later than 180 days
after (or if the 180th day is not a business day, the first business day thereafter) the date of original issue of the Initial Securities (the "Issue
Date") (such 180th day or next succeeding business day being a "Filing Target Date"), file with the Securities and
Exchange Commission (the "Commission") a registration statement (the "Exchange Offer Registration
Statement") on an appropriate form under the Securities Act of 1933, as amended (the "Securities Act"), with respect to a
proposed offer (the "Registered Exchange Offer") to the Holders of Transfer Restricted Securities (as defined in Section 6 hereof), who are not
prohibited by any law or policy of the Commission from participating in the Registered Exchange Offer, to issue and deliver to such Holders, in exchange for the Initial Securities, a like aggregate
principal amount of debt securities of the Issuer issued under the Indenture and identical in all material respects to the applicable series of Initial Securities held by such Holders (except for the
transfer restrictions relating to the Initial Securities and the provisions relating to the matters described in Section 6 hereof) that would be registered under the Securities Act
(collectively, the "Exchange Securities"). The Issuer shall use all commercially reasonable efforts to 

 

(i) cause
such Exchange Offer Registration Statement to become effective under the Securities Act within 240 days (or if the 240th day is not a business day, the first business
day thereafter) after the Issue Date of the Initial Securities (such 240th day or next succeeding business day being an "Effectiveness Target
Date") and (ii) keep the Exchange Offer Registration Statement effective for not less than 20 business days (or longer, if required by applicable law) after the date
notice of the Registered Exchange Offer is mailed to the Holders (such period being called the "Exchange Offer Registration Period"). 

        If
the Issuer effects the Registered Exchange Offer, the Issuer (i) will be entitled to close the Registered Exchange Offer 20 business days after the commencement thereof;  provided that the Issuer
has accepted all the Initial Securities theretofore validly tendered in accordance with the terms of the Registered Exchange
Offer and (ii) will use all commercially reasonable efforts to consummate the Registered Exchange Offer no later than 30 business days (or longer if required by applicable law) after the
Effectiveness Target Date (such business day being the "Consummation Deadline"). 

        Following
the declaration of the effectiveness of the Exchange Offer Registration Statement, the Issuer shall as promptly as practicable commence the Registered Exchange Offer, it being
the objective of such Registered Exchange Offer to enable each Holder of Transfer Restricted Securities electing to exchange the Initial Securities for Exchange Securities (assuming that such Holder
is not an affiliate of the Issuer within the meaning of the Securities Act, acquires the Exchange Securities in the ordinary course of such Holder's business and has no understandings or arrangements
with any person to participate in the distribution of the Exchange Securities and is not prohibited by any law or policy of the Commission from participating in the Registered Exchange Offer) to trade
such Exchange Securities from and after their receipt without any limitations or restrictions under the Securities Act, and to the extent required in accordance with Section 3(f), without
material restrictions under the securities laws of the several states of the United States. 

        The
Issuer acknowledges that, pursuant to current interpretations by the Commission's staff of Section 5 of the Securities Act, in the absence of an applicable exemption
therefrom, (i) each Holder which is a broker-dealer electing to exchange Initial Securities, acquired for its own account as a result of market making activities or other trading activities,
for Exchange Securities (an "Exchanging Dealer"), is required to deliver a prospectus containing substantially the information set forth in
(a) Annex A hereto on the cover, (b) Annex B hereto in the "Exchange Offer
Procedures" section and the "Purpose of the Exchange Offer" section, and (c) Annex C hereto in the "Plan of Distribution" section of such
prospectus in connection with a sale of any such Exchange Securities received by such Exchanging Dealer pursuant to the Registered Exchange Offer and (ii) an Initial Purchaser that elects to
sell Exchange Securities acquired in exchange for Initial Securities constituting any portion of an unsold allotment is required to deliver a prospectus containing the information required by Items
507 or 508 of Regulation S-K under the Securities Act, as applicable, in connection with such sale. 

        The
Issuer shall use its commercially reasonable best efforts to keep the Exchange Offer Registration Statement effective and to amend and supplement the prospectus contained therein, in
order to permit such prospectus to be lawfully delivered by all persons subject to the prospectus delivery requirements of the Securities Act for such period of time as such persons must comply with
such requirements in order to resell the Exchange Securities; provided, however, that (i) in the case where such prospectus and any amendment or
supplement thereto must be delivered by an Exchanging Dealer or an Initial Purchaser, such period shall be the lesser of 180 days and the date on which all Exchanging Dealers and the Initial
Purchasers give written notice to the Issuer that they have sold all Exchange Securities held by them (unless such period is extended pursuant to Section 3(h) below) and (ii) the Issuer
shall make such prospectus and any amendment or supplement thereto available to any broker-dealer for use in connection with any resale of any Exchange Securities for a period of not less than
90 days after the consummation of the Registered Exchange Offer. 

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        If,
upon consummation of the Registered Exchange Offer, any Initial Purchaser holds Initial Securities acquired by it as part of its initial distribution, the Issuer, simultaneously with
the delivery of the Exchange Securities pursuant to the Registered Exchange Offer, shall issue and deliver to such Initial Purchaser upon the written request of such Initial Purchaser, in exchange
(the "Private Exchange") for the Initial Securities held by such Initial Purchaser, a like principal amount of debt securities of the Issuer issued
under the Indenture and identical in all material respects (including the existence of restrictions on transfer under the Securities Act and the securities laws of the several states of the United
States, but excluding provisions relating to the matters described in Section 6 hereof) to the applicable series of Initial Securities held by such Initial Purchaser (the
"Private Exchange Securities"). The Private Exchange Securities will be issued as evidence of the same continuing indebtedness of the Issuer and will
not constitute the creation of new indebtedness. The Initial Securities, the Exchange Securities and the Private Exchange Securities are herein collectively called the
"Securities." 

        In
connection with the Registered Exchange Offer, the Issuer shall: 

        (a)   mail
to each Holder a copy of the prospectus forming part of the Exchange Offer Registration Statement, together with an appropriate letter of transmittal
("Letter of Transmittal") and related documents; 

        (b)   keep
the Registered Exchange Offer open for not less than 20 business days (or longer, if required by applicable law) after the date notice thereof is mailed to the
Holders; 

        (c)   utilize
the services of a depositary for the Registered Exchange Offer with an address in the Borough of Manhattan, The City of New York, which may be the Trustee or an
affiliate of the Trustee; 

        (d)   permit
Holders to withdraw tendered Initial Securities at any time prior to the close of business, New York time, on the last business day on which the Registered
Exchange Offer shall remain open; and 

        (e)   otherwise
comply in all material respects with all applicable laws. 

        As
soon as practicable after the close of the Registered Exchange Offer or the Private Exchange, as the case may be, the Issuer shall: 

        (x)   accept
for exchange all the Initial Securities validly tendered and not properly withdrawn pursuant to the Registered Exchange Offer and the Private Exchange in
accordance with the terms of the Exchange Offer Registration Statement and the Letter of Transmittal; 

        (y)   deliver
to the Trustee for cancellation all the Initial Securities so accepted for exchange; and 

        (z)   cause
the Trustee to authenticate and deliver promptly to each Holder of the Initial Securities, the applicable series of Exchange Securities or Private Exchange
Securities, as the case may be, equal in aggregate principal amount to the applicable series of Initial Securities of such Holder so accepted for exchange. 

        The
Indenture will provide that the Exchange Securities will not be subject to the transfer restrictions set forth in the Indenture and that all the Securities will vote and consent
together on all matters as one class and that none of the Securities will have the right to vote or consent as a class separate from one another on any matter. 

        Interest
on each Exchange Security and Private Exchange Security issued pursuant to the Registered Exchange Offer and in the Private Exchange will accrue from the last interest payment
date on which interest was paid on the Initial Securities surrendered in exchange therefor or, if no interest has been paid on the Initial Securities, from the date of original issue of the Initial
Securities. Each 

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Exchange
Security and Private Exchange Security will bear interest at the rate set forth thereon; provided, that interest with respect to the period
prior to the issuance thereof shall accrue at the rate or rates borne by Initial Securities from time to time during such period. 

        Each
Holder participating in the Registered Exchange Offer shall be required to represent to the Issuer that at the time of the consummation of the Registered Exchange Offer
(i) any Exchange Securities received by such Holder will be acquired in the ordinary course of business, (ii) such Holder will have no arrangements or understanding with any person to
participate in the distribution of the Securities or the Exchange Securities within the meaning of the Securities Act or resale of the Securities or Exchange Securities in violation of the Securities
Act, (iii) such Holder is not an "affiliate," as defined in Rule 405 of the Securities Act, of the Issuer or if it is an affiliate, such Holder will comply with the registration and
prospectus delivery requirements of the Securities Act to the extent applicable, (iv) if such Holder is not a broker-dealer, that it is not engaged in and has no understanding or arrangement
with any person to participate in, and does not intend to engage in, the distribution of the Exchange Securities and (v) if such Holder is a broker-dealer, that it will receive Exchange
Securities for its own account in exchange for Initial Securities that were acquired as a result of market-making activities or other trading activities and that it will be required to acknowledge
that it will deliver a prospectus in connection with any resale of such Exchange Securities. 

        Notwithstanding
any other provisions hereof, the Issuer will use its best efforts to ensure that (i) any Exchange Offer Registration Statement and any amendment thereto and any
prospectus forming part thereof and any supplement thereto complies in all material respects with the Securities Act and the rules and regulations thereunder, (ii) any Exchange Offer
Registration Statement and any amendment thereto does not, when it becomes effective, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading and (iii) any prospectus forming part of any Exchange Offer Registration Statement, and any supplement to such prospectus, does not
include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading. 

        2.    Shelf Registration.    If, (i) the Issuer is not required to file the Exchange Offer Registration
Statement, (ii) because the Registered Exchange Offer is not permitted by applicable law or Commission policy, the Issuer is not permitted to effect a Registered Exchange Offer, as contemplated
by Section 1 hereof, (iii) any Holder of Transfer Restricted Securities notifies the Issuer prior to the 20th day following the consummation of the Registered Exchange
Offer that (1) such Holder is prohibited by applicable law or Commission policy from participating in the Registered Exchange Offer, (2) such Holder receives Exchange Securities in the
Registered Exchange Offer which may not be resold to the public without delivering a prospectus and the prospectus contained in the Exchange Offer Registration Statement is not appropriate or
available for such resales or (3) such Holder is a broker-dealer and owns Securities acquired directly from the Issuer or an affiliate of the Issuer, the Issuer shall take the following actions
(the date on which any of the conditions described in the foregoing clauses (i) through (iii) occur, including in the case of clause (iii) the receipt of the required notice,
being a "Trigger Date"): 

        (a)   The
Issuer shall, at its cost, use all commercially reasonable efforts to file with the Commission a registration statement (the "Shelf
Registration Statement" and, together with the Exchange Offer Registration Statement, a "Registration Statement") on an
appropriate form under the Securities Act relating to the offer and sale of the Transfer Restricted Securities by the Holders thereof from time to time in accordance with the methods of distribution
set forth in the Shelf Registration Statement and Rule 415 under the Securities Act (hereinafter, the "Shelf Registration");  provided, however, that
no Holder (other than an Initial Purchaser) shall be entitled to have the Securities held by it covered by such Shelf
Registration Statement unless such Holder agrees in writing to be bound by all the provisions of this Agreement applicable to such Holder. 

4

 

The
Issuer will use all commercially reasonable efforts to (i) file such Shelf Registration Statement with the Commission on or prior to 60 days after a Trigger Date (but in no event
earlier than the Filing Target Date for the Exchange Offer Registration Statement) (such day or next succeeding business day being a "Filing Target
Date") and (ii) cause the Shelf Registration Statement to be declared effective by the Commission on or prior to 150 days after a Trigger Date (such
150th day or next succeeding business day being an "Effectiveness Target Date"). 

        (b)   The
Issuer shall use all commercially reasonable best efforts to keep the Shelf Registration Statement continuously effective in order to permit the prospectus included
therein to be lawfully delivered by the Holders of the relevant Securities, for a period of two years (or for such longer period if extended pursuant to Section 3(h) below) from the date of its
effectiveness or such shorter period that will terminate when all the Securities covered by the Shelf Registration Statement (i) have been sold pursuant thereto or (ii) are no longer
restricted securities (as defined in Rule 144 under the Securities Act, or any successor rule thereof) (the "Shelf Registration Period");  provided, however, that during the time that any Shelf Registration Statement is required to be effective, the Issuer may suspend any Shelf Registration
Statement and the related prospectus (each such period, a "Suspension Period"), without being required to pay any Liquidated Damages pursuant to
Section 6 hereof, upon written notice to the Initial Purchasers, the Holders of Transfer Restricted Securities and each Participating Broker-Dealer (which notice shall be accompanied by an
instruction to suspend the use of any prospectus), if (1) an event or circumstance occurs and is continuing as a result of which the Shelf Registration Statement, the related prospectus or any
document incorporated therein by reference as then amended or supplemented or proposed to be filed would, in the good faith judgment of the Issuer, contain an untrue statement of material fact or omit
to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading and (2)(A) the Issuer determines in its good faith
judgment that the disclosure of such event at such time would have a material adverse effect on the business, operations or prospects of the Issuer and its subsidiaries, taken as a whole, or
(B) the disclosure otherwise relates to a material business transaction or development which has not been publicly disclosed; provided, that such
written notice will be sufficient only if it (i) refers to this paragraph, (ii) provides notice that a Suspension Period has occurred and (iii) instructs the recipient not to use
any prospectus until further notice; provided, further, that all such periods of suspension may not exceed 60 days during any 365 day
period. Upon receipt of such notice, the Holders shall not be authorized by the Issuer to resell and shall not resell Securities covered by the Shelf Registration Statement. The Issuer shall be deemed
not to have used its best efforts to keep the Shelf Registration Statement effective during the requisite period if it voluntarily takes any action (excluding any Suspension Period permitted in
accordance with this Section 2(b)) that would result in Holders of Securities covered thereby not being able to offer and sell such Securities during that period, unless such action is required
by applicable law. 

        (c)   Notwithstanding
any other provisions of this Agreement to the contrary, the Issuer shall use its best efforts to cause the Shelf Registration Statement and the related
prospectus and any amendment or supplement thereto, as of the effective date of the Shelf Registration Statement, amendment or supplement, (i) to comply in all material respects with the
applicable requirements of the Securities Act and the rules and regulations of the Commission and (ii) other than with respect to information included therein in reliance upon or in conformity
with written information furnished to the Issuer by or on behalf of any Holder specifically for use therein, not to contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. 

5

 

        3.    Registration Procedures.    In connection with any Shelf Registration contemplated by Section 2 hereof
and, to the extent applicable, any Registered Exchange Offer contemplated by Section 1 hereof, the following provisions shall apply: 

        (a)   The
Issuer shall (i) furnish to each Initial Purchaser, prior to the filing thereof with the Commission, a copy of the Registration Statement and each amendment
thereof and each supplement, if any, to the prospectus included therein and, in the event that an Initial Purchaser (with respect to any portion of an unsold allotment from the original offering) is
participating in the Registered Exchange Offer or the Shelf Registration Statement, the Issuer shall use its reasonable best efforts to reflect in each such document, when so filed with the
Commission, such comments as such Initial Purchaser reasonably may propose within 5 business days of such furnishing; (ii) include substantially the information set forth in  Annex A hereto on
the cover, in Annex B hereto in the "Exchange Offer Procedures" section
and the "Purpose of the Exchange Offer" section and in Annex C hereto in the "Plan of Distribution" section of the prospectus forming a part of
the Exchange Offer Registration Statement and include substantially the information set forth in Annex D hereto in the Letter of Transmittal
delivered pursuant to the Registered Exchange Offer; (iii) if requested by an Initial Purchaser within the time period referred to in (i) above, include the information required by Items
507 or 508 of Regulation S-K under the Securities Act, as applicable, in the prospectus forming a part of the Exchange Offer Registration Statement; (iv) include within the
prospectus contained in the Exchange Offer Registration Statement a section entitled "Plan of Distribution," reasonably acceptable to the Initial Purchasers, which shall contain a summary statement of
the positions taken or policies made by the staff of the Commission with respect to the potential "underwriter" status of any broker-dealer that is the beneficial owner (as defined in
Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act")) of Exchange Securities received by such
broker-dealer in the Registered Exchange Offer (a "Participating Broker-Dealer"), whether such positions or policies have been publicly disseminated by
the staff of the Commission or such positions or policies, in the reasonable judgment of the Initial Purchasers based upon advice of counsel (which may be in-house counsel), represent the
prevailing views of the staff of the Commission; and (v) in the case of a Shelf Registration Statement, include the names of the Holders, who propose to sell Securities pursuant to the Shelf
Registration Statement, as selling securityholders, provided, that such information is provided to the Issuer at least 4 business days prior to the
filing thereof. In connection with the preparation and filing of a Shelf Registration Statement, the Issuer may require each Holder to agree to (i) keep confidential any material
non-public information relating to the
Issuer received by such Holders and not to publicly disclose such information and (ii) to abstain from trading any securities of the Issuer in violation of applicable securities laws on the
basis of any such material non-public information, in each case until such information has been made generally available to the public. 

        (b)   The
Issuer shall give written notice to the Initial Purchasers, the Holders who will have Transfer Restricted Securities registered pursuant to the Shelf Registration
Statement and who have complied with Section 3(l) of this Agreement and any Participating Broker-Dealer from whom the Issuer has received prior written notice that it will be a Participating
Broker-Dealer in the Registered Exchange Offer (which notice pursuant to clauses (ii)-(v) hereof shall be accompanied by an instruction to suspend the use of the prospectus until the requisite
changes have been made): 

        (i)    when
the Registration Statement or any amendment thereto has been filed with the Commission and when the Registration Statement or any post-effective
amendment thereto has become effective; 

        (ii)   of
any request by the Commission for amendments or supplements to the Registration Statement or the prospectus included therein or for additional information; 

6

 

        (iii)  of
the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; 

        (iv)  of
the receipt by the Issuer or its legal counsel of any notification with respect to the suspension of the qualification of the Securities for sale in any jurisdiction
or the initiation or threatening of any proceeding for such purpose; and 

        (v)   of
the happening of any event that requires the Issuer to make changes in the Registration Statement or the prospectus in order that the Registration Statement or the
prospectus do not contain an untrue statement of a material fact nor omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case of the
prospectus, in light of the circumstances under which they were made) not misleading. 

        (c)   The
Issuer shall make every reasonable effort to obtain the withdrawal at the earliest possible time, of any order suspending the effectiveness of the Registration
Statement. 

        (d)   The
Issuer shall, during the Shelf Registration Period, deliver to each Holder of Securities included within the coverage of the Shelf Registration, without charge, as
many copies of the prospectus (including each preliminary prospectus) included in the Shelf Registration Statement and any amendment or supplement thereto as such person may reasonably request. The
Issuer consents, subject to the provisions of this Agreement, to the use of the prospectus or any amendment or supplement thereto by each of the selling Holders of the Securities in connection with
the offering and sale of the Securities covered by the prospectus, or any amendment or supplement thereto, included in the Shelf Registration Statement. 

        (e)   The
Issuer shall deliver to each Initial Purchaser, any Exchanging Dealer, any Participating Broker-Dealer and such other persons required to deliver a prospectus
following the Registered Exchange Offer, without charge, as many copies of the final prospectus included in the Exchange Offer Registration Statement and any amendment or supplement thereto as such
persons may reasonably request. The Issuer consents, subject to the provisions of this Agreement, to the use of the prospectus or any amendment or supplement thereto by any Initial Purchaser, if
necessary, any Participating Broker-Dealer and such other persons required to deliver a prospectus following the Registered Exchange Offer in connection with the offering and sale of the Exchange
Securities covered by the prospectus, or any amendment or supplement thereto, included in such Exchange Offer Registration Statement. 

        (f)    Prior
to any public offering of the Securities, pursuant to any Registration Statement, the Issuer shall use its reasonable best efforts to register or qualify, or shall
cooperate with the Holders of the Securities included therein and their respective counsel in connection with the registration or qualification of, the Securities for offer and sale under the
securities or "blue sky" laws of such states of the United States as any Holder of the Securities included therein reasonably requests in writing and do any and all other acts or things reasonably
necessary or advisable to enable the offer and sale in such jurisdictions of the Securities covered by such Registration Statement; provided, however,
that the Issuer shall not be required to (i) qualify generally to do business in any jurisdiction where it is not then so qualified or qualify as a foreign company or (ii) take any
action which would subject it to general service of process or to taxation in any jurisdiction where it is not then so subject. 

        (g)   The
Issuer shall cooperate with the Holders of the Securities to facilitate the timely preparation and delivery of certificates representing the Securities to be sold
pursuant to any Registration Statement free of any restrictive legends (other than the ERISA Legend (as defined in the Indenture)) and in such denominations and registered in such names as the Holders
may 

7

 

request
a reasonable period of time prior to sales of the Securities pursuant to such Registration Statement. 

        (h)   Upon
the occurrence of any event contemplated by paragraphs (ii) through (v) of Section 3(b) above during the period for which the Issuer is
required to maintain an effective Registration Statement,
other than during a Suspension Period, the Issuer shall as promptly as practicable prepare and file a post-effective amendment to the Registration Statement or a supplement to the
related prospectus and any other required document so that, as thereafter delivered to Holders of the Securities or purchasers of Securities, the prospectus will not contain an untrue statement of a
material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. If
the Issuer notifies the Initial Purchasers, the Holders of the Securities and any known Participating Broker-Dealer in accordance with paragraphs (ii) through (v) of Section 3(b)
above to suspend the use of the prospectus until the requisite changes to the prospectus have been made, then the Initial Purchasers, the Holders of the Securities and any such Participating
Broker-Dealers shall suspend use of such prospectus, and the period of effectiveness of the Shelf Registration Statement provided for in Section 2(b) above and the Exchange Offer Registration
Statement provided for in Section 1 above shall each be extended by the number of days from and including the date of the giving of such notice to and including the date when the Initial
Purchasers, the Holders of the Securities and any known Participating Broker-Dealer shall have received such amended or supplemented prospectus pursuant to this Section 3(h). 

        (i)    Not
later than the effective date of the applicable Registration Statement, the Issuer will provide CUSIP numbers for the Initial Securities, the Exchange Securities or
the Private Exchange Securities, as the case may be, and, if required, provide the applicable trustee with printed certificates for the Initial Securities, the Exchange Securities or the Private
Exchange Securities, as the case may be in a form eligible for deposit with The Depository Trust Company. 

        (j)    The
Issuer will comply, in all material respects, with all rules and regulations of the Commission to the extent and so long as they are applicable to the Registered
Exchange Offer or the Shelf Registration and will make generally available to its security holders (or otherwise provide in accordance with Section 11(a) of the Securities Act) an earnings
statement satisfying the provisions of Section 11(a) of the Securities Act, no later than 45 days after the end of a 12-month period (or 90 days, if such period is a
fiscal year) beginning with the first month of the Issuer's first fiscal quarter commencing after the effective date of the Registration Statement, which statement shall cover such
12-month period. 

        (k)   The
Issuer shall cause the Indenture to be qualified under the Trust Indenture Act of 1939, as amended, in a timely manner and containing such changes, if any, as shall
be necessary for such qualification. In the event that such qualification would require the appointment of a new trustee under the Indenture, the Issuer shall appoint a new trustee thereunder pursuant
to the applicable provisions of the Indenture. 

        (l)    The
Issuer may require each Holder of Securities to be sold pursuant to the Shelf Registration Statement to furnish to the Issuer such information regarding the Holder
and the distribution of the Securities as the Issuer may from time to time reasonably require for inclusion in the Shelf Registration Statement, and the Issuer may exclude from such registration the
Securities of any Holder that unreasonably fails to furnish such information within a reasonable time after receiving such request. No such Holder is entitled to a draft or copy of the prospectus
until such requested information is given to the Issuer unless such failure to furnish such information would not materially delay effectiveness of such Shelf Registration Statement. 

        (m)  The
Issuer shall enter into such customary agreements (including, if requested in the case of an underwritten offering (which shall only be undertaken at the option of
the Issuer), an 

8

 

underwriting
agreement in customary form) and take all such other action, if any, as any Holder of the Securities shall reasonably request in order to facilitate the disposition of the Securities
pursuant to any Shelf Registration. 

        (n)   In
the case of any Shelf Registration, the Issuer shall (i) make reasonably available for inspection by the Holders of the Securities named in the Shelf
Registration Statement, any underwriter participating in any disposition pursuant to the Shelf Registration Statement and any attorney, accountant or other agent retained by the Holders of the
Securities named in the Shelf Registration Statement or any such underwriter all relevant financial and other records, pertinent corporate documents and properties of the Issuer and (ii) cause
the Issuer's officers, directors, employees, accountants and auditors to supply all relevant information reasonably requested by the Holders of the Securities named in the Shelf Registration Statement
or any such underwriter, attorney, accountant or agent retained by the Holders of the Securities named in the Shelf Registration Statement in connection with the Shelf Registration Statement, in each
case, as shall be reasonably necessary to enable such persons, to conduct a reasonable investigation within the meaning of Section 11 of the Securities Act; provided,
however, that the foregoing inspection and information gathering shall be coordinated on behalf of the Initial Purchasers by you and on behalf of the other parties, by one
counsel designated by and on behalf of such other parties as described in and subject to the provisions of Section 4 hereof and, provided,
further, that such information shall be kept confidential by the Holder or by any such attorney, accountant or other agent unless required by law or regulation to be disclosed.
Each such person will be required to agree or acknowledge that information obtained by it as a result of such inspections shall be kept confidential and shall not be used by it as the basis for any
market transactions in the Securities of the Issuer unless and until such information is made generally available to the public through no fault or action of such person. 

        (o)   In
the case of any Shelf Registration, the Issuer, if requested by the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities at the
time outstanding, shall cause (i) its counsel to deliver an opinion and updates thereof relating to the Securities in customary form addressed to such Holders and the managing underwriters, if
any, thereof and dated, in the case of the initial opinion, the effective date of such Shelf Registration Statement (it being agreed that the matters to be covered by such opinion shall include such
matters as are customarily included in opinions requested in underwritten offerings of such type); (ii) its officers to execute and deliver all customary documents and certificates and updates
thereof reasonably requested by any underwriters of the applicable Securities; and (iii) its independent public accountants to provide to the selling Holders of the applicable Securities and
any underwriter therefor a comfort letter in customary form and covering matters of the type customarily covered in comfort letters in connection with primary underwritten offerings, subject to
receipt of appropriate documentation as contemplated, and only if permitted, by Statement of Auditing Standards No. 72, Letters for Underwriters and Certain Other
Requesting Parties, as amended by Statements on Auditing Standards No. 76 and No. 86. 

        (p)   In
the case of the Registered Exchange Offer, if requested by any Initial Purchaser or any known Participating Broker-Dealer, the Issuer shall cause (i) its
counsel to deliver to such Initial Purchaser or such Participating Broker-Dealer a signed opinion in the form set forth in Section 7(c) of the Purchase Agreement with such changes as are
customary in connection with the preparation of a Registration Statement and (ii) its independent public accountants to deliver to such Initial Purchaser or such Participating Broker-Dealer a
comfort letter, in customary form, meeting the requirements as to the substance thereof as set forth in Section 7(a) of the Purchase Agreement, with appropriate date changes. 

        (q)   If
a Registered Exchange Offer or a Private Exchange is to be consummated, upon delivery of the Initial Securities by Holders to the Issuer (or to such other Person as
directed by 

9

 

the
Issuer) in exchange for the Exchange Securities or the Private Exchange Securities, as the case may be, the Issuer shall mark, or caused to be marked, on the Initial Securities so exchanged that
such Initial Securities are being canceled in exchange for the Exchange Securities or the Private Exchange Securities, as the case may be; in no event shall the Initial Securities be marked as paid or
otherwise satisfied. 

        (r)   The
Issuer will use commercially reasonable best efforts to confirm that the ratings then applicable to the Initial Securities will apply to the Securities covered by a
Registration Statement. 

        (s)   In
the event that the Issuer opts for an underwritten offering and any broker-dealer registered under the Exchange Act shall underwrite any Securities or participate as
a member of an underwriting syndicate or selling group or "assist in the distribution" (within the meaning of the Conduct Rules (the "Rules") of the
National Association of Securities Dealers, Inc. ("NASD")) thereof, whether as a Holder of such Securities or as an underwriter, a placement or
sales agent or a broker or dealer in respect thereof, or otherwise, the Issuer will assist such broker-dealer in complying with the requirements of such Rules, including, without limitation, by
(i) if such Rules, including Rule 2720, shall so require, engaging a "qualified independent underwriter" (as defined in Rule 2720) to participate in the preparation of the
Registration Statement relating to such Securities, to exercise usual standards of due diligence in respect thereto and, if any portion of the offering contemplated by such Registration Statement is
an underwritten offering or is made through a placement or sales agent, to recommend the yield of such Securities, (ii) indemnifying any such qualified independent underwriter to the extent of
the indemnification of underwriters provided in Section 5 hereof and (iii) providing such information to such broker-dealer as may be required in order for such broker-dealer to comply
with the requirements of the Rules. 

        (t)    The
Issuer shall use commercially reasonable best efforts to take all other steps necessary to effect the registration of the Securities covered by a Registration
Statement contemplated hereby. 

        (u)   In
the case of any Shelf Registration, the Issuer shall not prepare, make, use, authorize, approve or refer to any free writing prospectuses (as defined in
Rule 405 under the Securities Act) prepared by or on behalf of the Issuer or used or referred to by the Issuer in connection with the sale of the Securities (an "Issuer
Free Writing Prospectus") other than any communications pursuant to Rule 134 under the Securities Act or any document constituting an offer to sell or solicitation of an
offer to buy the Securities that falls within the exception from the definition of prospectuses in Section 2(a)(10)(a) of the Securities Act. 

        4.    Registration Expenses.    (a) The Issuer shall bear all fees and expenses incurred in connection with
the performance of its obligations under Sections 1 through 3 hereof (including the reasonable fees and expenses, if any, of Latham & Watkins LLP, counsel for the Initial Purchasers, incurred
in connection with the Registered Exchange Offer), whether or not the Registered Exchange Offer or a Shelf Registration is filed or becomes effective, and, in the event of a Shelf Registration, shall
bear or reimburse the Holders of the Securities covered thereby for the reasonable fees and disbursements of not more than one firm of counsel designated by the Holders of a majority in principal
amount of the Initial Securities covered thereby to act as counsel for the Holders of the Initial Securities in connection therewith. 

        (b)   Each
Holder shall pay all underwriting discounts, commissions and transfer taxes, if any, relating to the sale or disposition of such Holder's Transfer Restricted
Securities pursuant to the Shelf Registration Statement. 

        5.    Indemnification.    (a) The Issuer agrees to indemnify and hold harmless each Holder of the Securities,
any Participating Broker-Dealer and each person, if any, who controls such Holder or such Participating Broker-Dealer within the meaning of the Securities Act or the Exchange Act (each 

10

 

Holder,
any Participating Broker-Dealer and such controlling persons are referred to collectively as the "Indemnified Parties") from and against any
losses, claims, damages or liabilities, joint or several, or any actions in respect thereof (including, but not limited to, any losses, claims, damages, liabilities or actions relating to purchases
and sales of the Securities) to which each Indemnified Party may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such losses, claims, damages, liabilities or actions
arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in a Registration Statement, prospectus contained therein or in any amendment or supplement
thereto or in any preliminary or final prospectus relating to a Shelf Registration, Issuer Free Writing Prospectus or any "issuer information" filed or required to be filed pursuant to
Rule 433(d) under the Securities Act, or arise out of, or are based upon, the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make
the statements therein, and in the case of any prospectus or Issuer Free Writing Prospectus, in light of the circumstances under which they were made, not misleading, and shall reimburse, as incurred,
the Indemnified Parties for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action in respect thereof;  provided,
however, that (i) the Issuer shall not be liable in any such case to the extent that such loss, claim, damage or liability arises out
of or is based upon any untrue statement or alleged untrue statement or omission or alleged omission made in a Registration Statement or prospectus contained therein or in any amendment or supplement
thereto or in any preliminary or final prospectus relating to a Shelf Registration or Issuer Free Writing Prospectus in reliance upon and in conformity with written information pertaining to such
Holder and furnished to the Issuer by or on behalf of such Holder specifically for inclusion therein and (ii) the Issuer shall not be liable in any such case to the extent that such loss,
claim, damage or liability arises out of or is based upon the use of a Registration Statement after (x) a stop order has been issued by the Commission in respect of a Registration Statement or
any proceedings for such purposes have been initiated or (y) a Registration Statement has been suspended, so long as in the case of (x) and (y), the Holders shall have received prior
written notice of such action from the Issuer; provided further, however, that this indemnity agreement will be in addition to any liability which the
Issuer may otherwise have to such Indemnified Party. The Issuer shall also indemnify underwriters (if any), their officers and directors and each person who controls such underwriters within the
meaning of the Securities Act or the Exchange Act to the same extent as provided above with respect to the indemnification of the Holders of the Securities if requested by such Holders. 

        (b)   Each
Holder of the Securities, severally and not jointly, will indemnify and hold harmless the Issuer and each person, if any, who controls the Issuer within the meaning
of the Securities Act or the Exchange Act and each person who signs the Registration Statement from and against any losses, claims, damages or liabilities or any actions in respect thereof, to which
the Issuer or any such controlling person may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such losses, claims, damages, liabilities or actions arise out of or
are based upon any untrue statement or alleged untrue statement of a material fact contained in a Registration Statement, prospectus contained therein or in any amendment or supplement thereto or in
any preliminary or final prospectus relating to a Shelf Registration or Issuer Free Writing Prospectus, or arise out of or are based upon the omission or alleged omission to state therein a material
fact necessary to make the statements therein, and in the case of any prospectus, in light of the circumstances under which they were made, not misleading, but in each case only to the extent that the
untrue statement or omission or alleged untrue statement or omission was made in reliance upon and in conformity with written information pertaining to such Holder and furnished to the Issuer by or on
behalf of such Holder specifically for inclusion therein; and, subject to the limitation set forth immediately preceding this clause, shall reimburse, as incurred, the Issuer for any legal or other
expenses reasonably incurred by the Issuer or any such controlling person in connection with investigating or defending any loss, claim, 

11

 

damage,
liability or action in respect thereof. This indemnity agreement will be in addition to any liability which such Holder may otherwise have to the Issuer or any of its controlling persons. 

        (c)   Promptly
after receipt by an indemnified party under this Section 5 of notice of the commencement of any action or proceeding (including a governmental
investigation), such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 5, notify the indemnifying party of the commencement
thereof; but the failure to notify the indemnifying party shall not relieve the indemnifying party from any liability that it may have under subsection (a) or (b) above except to the
extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided further that the
failure to notify the indemnifying party shall not relieve it from any liability that it may have to an indemnified party otherwise than under subsection (a) or (b) above. In case any
such action is brought against any indemnified party, and it notifies the indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein and, to the
extent that it may wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party (who shall not,
except with the consent of the indemnified party, be counsel to the indemnifying party), and after notice from the indemnifying party to such indemnified party of its election so to assume the defense
thereof the indemnifying party will not be liable to such indemnified party under this Section 5 for any legal or other expenses, other than reasonable costs of investigation, subsequently
incurred by such indemnified party in connection with the defense thereof. In no event shall an indemnifying party be liable for fees and expenses of more than one counsel (in addition to any local
counsel) separate from their own counsel for all indemnified parties in connection with any one action or separate but similar or related actions in the same jurisdiction arising out of the same
general allegations or circumstances. No indemnifying party shall, without the prior written consent of the indemnified party, which consent shall not be unreasonably withheld, effect any settlement
of any pending or threatened action in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party unless such
settlement (i) includes an unconditional release of such indemnified party from all liability on any claims that are the subject matter of such action, and (ii) does not include a
statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. No indemnifying party shall be liable for any settlement of any action or claim for
monetary damages which an indemnified party may effect without the written consent of the indemnifying party, which consent shall not be unreasonably withheld; provided,
however, that an indemnified party may settle any such action or claim without the consent of the indemnifying party if the indemnified party makes a written request that its
legal fees and expenses be reimbursed and such fees and expenses are not reimbursed by the indemnified party within 15 days thereafter. 

        (d)   If
the indemnification provided for in this Section 5 is unavailable or insufficient to hold harmless an indemnified party under subsections (a) or
(b) above, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of the losses, claims, damages or liabilities (or actions in respect
thereof) referred to in subsection (a) or (b) above (i) in such proportion as is appropriate to reflect the relative benefits received by the indemnifying party or parties on the
one hand and the indemnified party on the other from the exchange of the Securities, pursuant to the Registered Exchange Offer, or (ii) if the allocation provided by the foregoing
clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault
of the indemnifying party or parties on the one hand and the indemnified party on the other in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities
(or actions in respect thereof) as well as any other relevant equitable considerations. The relative fault of the parties shall be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by such indemnifying party on the one hand or such indemnified
party on the other, and the parties' relative 

12

 

intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission. The amount paid by an indemnified party as a result of the losses, claims, damages or
liabilities referred to in the first sentence of this subsection (d) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with
investigating or defending any action or claim which is the subject of this subsection (d). Notwithstanding any other provision of this Section 5(d), the Holders of the Securities shall not be
required to contribute any amount in excess of the amount by which the net proceeds received by such Holders from the sale of the Securities pursuant to a Registration Statement exceeds the amount of
damages which such Holders have otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this
paragraph (d), each person, if any, who controls such indemnified party within the meaning of the Securities Act or the Exchange Act shall have the same rights to contribution as such
indemnified party and each person, if any, who controls the Issuer within the meaning of the Securities Act or the Exchange Act shall have the same rights to contribution as the Issuer. 

        (e)   The
agreements contained in this Section 5 shall survive the sale of the Securities pursuant to a Registration Statement and shall remain in full force and
effect, regardless of any termination or cancellation of this Agreement or any investigation made by or on behalf of any indemnified party. 

        6.    Liquidated Damages Under Certain Circumstances.    (a) Liquidated Damages
("Liquidated Damages") with respect to the Transfer Restricted Securities shall be assessed as follows if any of the following events occur (each such
event in clauses (i) through (iv) below being herein called a "Registration Default"): 

        (i)    Any
Registration Statement required by this Agreement is not filed with the Commission on or prior to the applicable Filing Target Date; 

        (ii)   Any
Registration Statement required by this Agreement is not declared effective by the Commission on or prior to the applicable Effectiveness Target Date; 

        (iii)  The
Registered Exchange Offer has not been consummated by the Consummation Deadline; or 

        (iv)  If
after either the Exchange Offer Registration Statement or the Shelf Registration Statement is declared effective (A) such Registration Statement thereafter
ceases to be effective; or (B) such Registration Statement or the related prospectus ceases to be usable (except as permitted in paragraph (b)) in connection with resales of Transfer
Restricted Securities during the periods specified herein, in either case during the period the applicable Registration Statement must remain effective under this Agreement, because either
(1) any event occurs as a result of which the related prospectus forming part of such Registration Statement would include any untrue statement of a material fact or omit to state any material
fact necessary to make the statements therein in the light of the circumstances under which they were made not misleading, or (2) it shall be necessary to amend such Registration Statement or
supplement the related prospectus, to comply with the Securities Act or the Exchange Act or the respective rules thereunder. 

Liquidated
Damages shall accrue on the Transfer Restricted Securities over and above the interest set forth in the title of the Securities from and including the date on which any such Registration
Default shall occur to but excluding the date on which all such Registration Defaults have been cured, at a rate of 0.25% per annum (the "Liquidated Damages
Rate") of the principal amount of Transfer Restricted Securities held by such Holder for the first 90 day period immediately following the occurrence of such
Registration Default. The Liquidated Damages Rate shall increase by an additional 0.25% per annum 

13

 

of
the principal amount of Transfer Restricted Securities with respect to each subsequent 90 day period until all Registration Defaults have been cured, up to a maximum Liquidated Damages Rate
of 1.0% per annum of the principal amount of Transfer Restricted Securities. 

        (b)   A
Registration Default referred to in Section 6(a)(iv)(B) hereof shall be deemed not to have occurred and be continuing in relation to a Shelf Registration
Statement or the related prospectus if (i) such Registration Default has occurred solely as a result of (x) the filing of a post-effective amendment to such Shelf
Registration Statement to incorporate annual audited financial information with respect to the Issuer where such post-effective amendment is not yet effective and needs to be declared
effective to permit Holders to use the related prospectus or (y) other material events, with respect to the Issuer that would need to be described in such Shelf Registration Statement or the
related prospectus and (ii) in the case of clause (y), the Issuer is proceeding promptly and in good faith to amend or supplement such Shelf Registration Statement and related prospectus
to describe such events; provided, however, that in any case if such Registration Default occurs for a continuous period in excess of 30 days,
Liquidated Damages shall be payable in accordance with the above paragraph from the day such Registration Default occurs until such Registration Default is cured. 

        (c)   Any
amounts of Liquidated Damages due pursuant to Section 6(a) above will be payable in cash on the regular interest payment dates with respect to the Transfer
Restricted Securities. The amount of Liquidated Damages will be determined by multiplying the applicable Liquidated Damages Rate by the principal amount of the Transfer Restricted Securities,
multiplied by a fraction, the numerator of which is the number of days such Liquidated Damages Rate was applicable during such period (determined on the basis of a 360-day year comprised
of twelve 30-day months), and the denominator of which is 360. The Issuer shall not be required to pay Liquidated Damages for more than one Registration Default at any given time.
Following the cure of all Registration Defaults, the accrual of Liquidated Damages will cease. 

        (d)   "Transfer Restricted Securities" means each Security until the earliest to occur of (i) the date on which such
Security has been exchanged by a person other than a broker-dealer for a freely transferable Exchange Security in the Registered Exchange Offer, (ii) following the exchange by a broker-dealer
in the Registered Exchange Offer of an Initial Security for an Exchange Security, the date on which such Exchange Security is sold to a purchaser who receives from such broker-dealer on or prior to
the date of such sale a copy of the prospectus contained in the Exchange Offer Registration Statement, (iii) the date on which such Initial Security has been effectively registered under the
Securities Act and disposed of in accordance with the Shelf Registration Statement or (iv) the date on which such Initial Security is distributed to the public pursuant to Rule 144 under
the Securities Act or is saleable pursuant to Rule 144(k) under the Securities Act. 

        7.    Rules 144 and 144A.    The Issuer shall use its commercially reasonable best efforts to file the reports
required to be filed by it under the Securities Act and the Exchange Act in a timely manner and, if at any time the Issuer is not required to file such reports, it will, upon the request of any Holder
of Initial Securities, make publicly available other information so long as necessary to permit sales of its securities pursuant to Rules 144 and 144A. The Issuer covenants that it will take
such further action as any Holder of Initial Securities may reasonably request, all to the extent required from time to time to enable such Holder to sell Initial Securities without registration under
the Securities Act within the limitation of the exemptions provided by Rules 144 and 144A (including the requirements of Rule 144A(d)(4)). The Issuer will provide a copy of this
Agreement to prospective purchasers of Initial Securities identified to the Issuer by the Initial Purchasers upon request. Upon the request of any Holder of Initial Securities, the Issuer shall
deliver to such Holder a written statement as to whether the Issuer has complied with such requirements. Notwithstanding the foregoing, nothing in this Section 7 shall be deemed to require the
Issuer to register any of its securities pursuant to the Exchange Act. 

14

 

        8.    Underwritten Registrations (If Any).    If any of the Transfer Restricted Securities covered by any Shelf
Registration are to be sold in an underwritten offering, which underwritten offering shall only be undertaken at the option of the Issuer, the investment banker or investment bankers and manager or
managers that will administer the offering ("Managing Underwriters") will be selected by the Holders of a majority in aggregate principal amount of such
Transfer Restricted Securities to be included in such offering with the consent of the Issuer, which consent shall not be unreasonably withheld. 

        No
person may participate in any underwritten registration hereunder, which underwritten registration shall only be undertaken at the option the Issuer, unless such person
(i) agrees to sell such person's Transfer Restricted Securities on the basis reasonably provided in any underwriting arrangements approved by the persons entitled hereunder to approve such
arrangements and (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the terms of such
underwriting arrangements. 

        9.    Miscellaneous.    

        (a)   Amendments and Waivers.    The provisions of this Agreement may not be amended, modified or supplemented, and
waivers or consents to departures from the provisions hereof may not be given, except by the Issuer and the written consent of the Holders of a majority in principal amount of the Securities affected
by such amendment, modification, supplement, waiver or consents. 

        (b)   Notices.    All notices and other communications provided for or permitted hereunder shall be made in writing
by hand delivery, first-class mail, facsimile transmission, or air courier which guarantees overnight delivery: 

        (1)   if
to a Holder of the Securities, at the address set forth on the records of the Registrar under the Indenture, with a copy to the Registrar under the Indenture. 

        (2)   if
to the Initial Purchasers; 

Citigroup
Global Markets Inc.

390 Greenwich Street

New York, NY 10013

Fax No.: (212) 723-8971

Attention: IBD Legal 

        with
a copy to: 

Latham &
Watkins LLP

885 Third Avenue

Suite 1000

New York, New York 10022

Fax No.: (212) 751-4864

Attention: Jonathan R. Rod 

        (3)   if
to the Issuer, to: 

Edison
Mission Energy

18101 Von Karman Avenue, Suite 1700

Irvine, California 92612

Fax No.: (949) 752-5624

Attention: General Counsel 

        with
a copy to: 

Skadden,
Arps, Meagher & Flom LLP

Four Times Square

New York, New York 10036

Fax No.: (212) 777-3252

Attention: Harold Moore 

15

 

        All
such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; three business days after being deposited in the
mail, postage prepaid, if mailed; when receipt is acknowledged by recipient's facsimile machine operator, if sent by facsimile transmission; and on the day delivered, if sent by overnight air courier
guaranteeing next day delivery. 

        (c)   No Inconsistent Agreements.    The Issuer has not, as of the date hereof, entered into, nor shall it, on or
after the date hereof, enter into, any agreement with respect to its securities that is inconsistent with the rights granted to the Holders herein or otherwise conflicts with the provisions hereof. 

        (d)   Successors and Assigns.    This Agreement shall be binding upon each of the parties and their respective
successors and assigns. 

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

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

        (g)   Governing Law.    THIS AGREEMENT SHALL BE GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CHOICE OF LAW RULES (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 

        (h)   Severability.    If any one or more of the provisions contained herein, or the application thereof in any
circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein shall
not be affected or impaired thereby. 

        (i)    Securities Held by the Issuer.    Whenever the consent or approval of Holders of a specified percentage of
principal amount of Securities is required hereunder, Securities held by the Issuer or its affiliates (other than subsequent Holders of Securities if such subsequent Holders are deemed to be
affiliates solely by reason of their holdings of such Securities) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage. 

16

        If the foregoing is in accordance with your understanding of our agreement, please sign and return to the Issuer a counterpart hereof, whereupon this instrument, along with all
counterparts, will become a binding agreement among the several Initial Purchasers and the Issuer in accordance with its terms. 

	 	 	Very truly yours,
	

 	
 	

EDISON MISSION ENERGY
	

 	
 	

By:	

/s/  STEVEN D. EISENBERG      

	 	 	 	Name:	Steven D. Eisenberg
	 	 	 	Title:	Vice President

The
foregoing Registration

Rights Agreement is hereby confirmed

and accepted as of the date first

above written. 

CITIGROUP
GLOBAL MARKETS INC. 

For
itself and on behalf of the

several Purchasers listed

on Schedule A hereto. 

	

By:	

CITIGROUP GLOBAL MARKETS INC.	

 
	

By	

/s/  DAVID BLACKFORD      
 David Blackford

Vice President

Authorized Signatory	

 

SCHEDULE A  

Citigroup
Global Markets Inc.

Credit Suisse Securities (USA) LLC

J.P. Morgan Securities Inc.

Merrill Lynch, Pierce, Fenner & Smith Incorporated

Goldman, Sachs & Co.

Deutsche Bank Securities Inc.

Lehman Brothers Inc.

UBS Securities LLC

Greenwich Capital Markets, Inc. 

ANNEX A  

        Each
broker-dealer that receives Exchange Securities for its own account pursuant to the Exchange Offer must acknowledge that it will deliver a prospectus in connection with any resale
of such Exchange Securities. The Letter of Transmittal states that by so acknowledging and by delivering a prospectus, a broker-dealer will not be deemed to admit that it is an "underwriter" within
the meaning of the Securities Act. This Prospectus, as it may be amended or supplemented from time to time, may be used by a broker-dealer in connection with resales of Exchange Securities received in
exchange for Initial Securities where such Initial Securities were acquired by such broker-dealer as a result of market-making activities or other trading activities. The Issuer has agreed that, for a
period of 180 days after the Expiration Date (as defined herein), it will make this Prospectus available to any broker-dealer for use in connection with any such resale. See "Plan of
Distribution." 

ANNEX B  

        Each
broker-dealer that receives Exchange Securities for its own account in exchange for Initial Securities, where such Initial Securities were acquired by such broker-dealer as a result
of market-making activities or other trading activities, must acknowledge that it will deliver a prospectus in connection with any resale of such Exchange Securities. See "Plan of Distribution." 

ANNEX C  

PLAN OF DISTRIBUTION  

        Each broker-dealer that receives Exchange Securities for its own account pursuant to the Exchange Offer must acknowledge that it will deliver a prospectus in
connection with any resale of such Exchange Securities. This prospectus, as it may be amended or supplemented from time to time, may be used by a broker-dealer in connection with resales of Exchange
Securities received in exchange for Initial Securities where such Initial Securities were acquired as a result of market-making activities or other trading activities. The Issuer has agreed that, for
a period of 180 days after the Expiration Date, it will make this prospectus, as amended or supplemented, available to any broker-dealer for use in connection with any such resale. In addition,
until [                        ], 200[7][8], all dealers effecting transactions in the Exchange Securities may be required to
deliver a
prospectus. 

        The
Issuer will not receive any proceeds from any sale of Exchange Securities by broker-dealers. Exchange Securities received by broker-dealers for their own account pursuant to the
Exchange Offer may be sold from time to time in one or more transactions in the over-the-counter market, in negotiated transactions, through the writing of options on the
Exchange Securities or a combination of such methods of resale, at market prices prevailing at the time of resale, at prices related to such prevailing market prices or negotiated prices. Any such
resale may be made directly to purchasers or to or through brokers or dealers who may receive compensation in the form of commissions or concessions from any such broker-dealer or the purchasers of
any such Exchange Securities. Any broker-dealer that resells Exchange Securities that were received by it for its own account pursuant to the Exchange Offer and any broker or dealer that participates
in a distribution of such Exchange Securities may be deemed to be an "underwriter" within the meaning of the Securities Act and any profit on any such resale of Exchange Securities and any commission
or concessions received by any such persons may be deemed to be underwriting compensation under the Securities Act. The Letter of Transmittal states that, by acknowledging that it will deliver and by
delivering a prospectus, a broker-dealer will not be deemed to admit that it is an "underwriter" within the meaning of the Securities Act. 

        For
a period of 180 days after the Expiration Date the Issuer will promptly send additional copies of this prospectus and any amendment or supplement to this prospectus to any
broker-dealer that requests such documents in the Letter of Transmittal. The Issuer has agreed to pay all expenses incident to the Exchange Offer (including the expenses of one counsel for the Holders
of the Securities) other than commissions or concessions of any brokers or dealers and will indemnify the Holders of the Securities (including any broker-dealers) against certain liabilities,
including liabilities under the Securities Act. 

ANNEX D  

	o
	CHECK
HERE IF YOU ARE A BROKER-DEALER AND WISH TO RECEIVE 10 ADDITIONAL COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR
SUPPLEMENTS THERETO. 

	
Name:	
 	

	

Address:	
 	

	

 	
 	

If
the undersigned is not a broker-dealer, the undersigned represents that it is not engaged in, and does not intend to engage in, a distribution of Exchange Securities. If the undersigned is a
broker-dealer that will receive Exchange Securities for its own account in exchange for Initial Securities that were acquired as a result of market-making activities or other trading activities, it
acknowledges that it will deliver a prospectus in connection with any resale of such Exchange Securities; however, by so acknowledging and by delivering a prospectus, the undersigned will not be
deemed to admit that it is an "underwriter" within the meaning of the Securities Act. 

QuickLinks

REGISTRATION RIGHTS AGREEMENT

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