Document:

exh-4d.htm

    
      
        	
                Exhibit
      4(d)

              	
                EXECUTION
      COPY

              

      

    

     

    REGISTRATION
RIGHTS AGREEMENT

     

    THIS
REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of
April 8, 2008 by and among Illinois Power Company, d/b/a AmerenIP, an Illinois
corporation (the “Company”), and the Initial Purchasers (as hereinafter
defined).

     

    This
Agreement is made pursuant to the Purchase Agreement dated April 1, 2008 (the
“Purchase Agreement”), by and among the Company, as issuer of $337,000,000
aggregate principal amount of 6.25% Senior Secured Notes due 2018 (the “Notes”),
and the Initial Purchasers, which provides for, among other things, the sale by
the Company to the Initial Purchasers of the aggregate principal amount of Notes
specified therein.  In order to induce the Initial Purchasers to enter
into the Purchase Agreement, the Company has agreed to provide to the Initial
Purchasers and their direct and indirect transferees the registration rights set
forth in this Agreement.  The execution and delivery of this Agreement
is a condition to the closing under the Purchase Agreement.

     

    In
consideration of the foregoing, the parties hereto agree as
follows:

     

    1.           Definitions. 
As used
in this Agreement, the following capitalized defined terms shall have the
following meanings:

     

    “Additional
Interest” shall have the meaning set forth in Section 2(e)(i)
hereof.

     

    “Advice”
shall have the meaning set forth in the last paragraph of Section 3
hereof.

     

    “Affiliate”
has the meaning given to that term in Rule 405 under the Securities Act or any
successor rule thereunder.

     

    “Agreement”
shall have the meaning set forth in the preamble to this Agreement.

     

    “Applicable
Period” shall have the meaning set forth in Section 3(u)
hereof.

     

    “Business
Day” shall mean any day other than a Saturday, a Sunday, or a day on which
banking institutions in The City of New York are authorized or required by law
or executive order to remain closed or a day on which the corporate trust office
of the Trustee is closed for business.

     

    “Closing
Date” shall mean April 8, 2008, the initial date of delivery of the Notes from
the Company to the Initial Purchasers.

     

    “Company”
shall have the meaning set forth in the preamble to this Agreement and also
includes the Company’s successors and permitted assigns.

     

    “Depositary”
shall mean The Depository Trust Company, or any other depositary appointed by
the Company; provided,
however, that such depositary must have an address in the Borough of
Manhattan, The City of New York.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Effectiveness
Period” shall have the meaning set forth in Section 2(b) hereof.

     

    “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended from time to
time.

     

    “Exchange
Notes” shall mean the 6.25% Senior Secured Notes due 2018 issued by the Company
under the Indenture containing terms identical in all material respects to the
Notes (except that (i) interest thereon shall accrue from the last date on which
interest was paid or duly provided for on the Notes or, if no such interest has
been paid, from the date of their original issue, (ii) they will not contain
terms with respect to transfer restrictions under the Securities Act, and (iii)
except for Exchange Notes held by Participating Broker-Dealers, they will not
provide for any Additional Interest thereon).

     

    “Exchange
Offer” shall mean the offer by the Company to the Holders to exchange all of the
Registrable Notes held by each such Holder for a like amount of Exchange Notes
pursuant to Section 2(a) hereof.

     

    “Exchange
Offer Registration” shall mean a registration under the Securities Act effected
pursuant to Section 2(a) hereof.

     

    “Exchange
Offer Registration Statement” shall mean an exchange offer registration
statement on Form S-4 (or, if applicable, on another appropriate form), and all
amendments and supplements to such registration statement, in each case
including the Prospectus contained therein, all exhibits thereto and all
documents incorporated by reference therein.

     

    “Exchange
Period” shall have the meaning set forth in Section 2(a) hereof.

     

    “FINRA”
shall mean the Financial Industry Regulatory Authority, Inc.

     

    “Holder”
shall mean any Initial Purchaser, for so long as it owns any Registrable Notes,
and each of its successors, assigns and direct and indirect transferees who
become registered owners of Registrable Notes under the Indenture.

     

    “Indenture”
shall mean the Indenture dated as of June 1, 2006 between the Company and the
Trustee (including the terms of the Notes to be set forth in an order of the
Company thereunder), as the same may be amended or supplemented from time to
time in accordance with the terms thereof.

     

    “Initial
Purchasers” shall mean Barclays Capital Inc., BNP Paribas Securities Corp.,
Lehman Brothers Inc., Fifth Third Securities, Inc. and U.S. Bancorp Investments,
Inc.

     

    “Inspectors”
shall have the meaning set forth in Section 3(p) hereof.

     

    “Majority
Holders” shall mean the Holders of a majority of the aggregate principal amount
of outstanding Notes or Exchange Notes, as the case may be.

     

    “Notes”
shall have the meaning set forth in the preamble to this Agreement.

     

    
      
        
        

      

      
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    “Participating
Broker-Dealer” shall have the meaning set forth in Section 3(u)
hereof.

     

    “Person”
shall mean an individual, partnership, corporation, trust or unincorporated
organization, limited liability company, or a government or agency or political
subdivision thereof or other legal entity.

     

    “Prospectus”
shall mean the prospectus included in a Registration Statement, including any
preliminary prospectus, and any such prospectus as amended or supplemented by
any prospectus supplement, including a prospectus supplement with respect to the
terms of the offering of any portion of the Registrable Notes covered by a Shelf
Registration Statement, and by all other amendments and supplements to a
prospectus, including post-effective amendments, and in each case including all
documents incorporated by reference therein.

     

    “Purchase
Agreement” shall have the meaning set forth in the preamble to this
Agreement.

     

    “Records”
shall have the meaning set forth in Section 3(p) hereof.

     

    “Registrable
Notes” shall mean the Notes, until the earliest to occur of (a) the date on
which any Note has been exchanged by a Person other than a Participating
Broker-Dealer for Exchange Notes in the Exchange Offer, (b) following the
exchange by a Participating Broker-Dealer in the Exchange Offer of any Note for
one or more Exchange Notes, the date on which such Exchange Notes are sold to a
purchaser in accordance with the Exchange Offer Registration Statement,
(c) the date on which any Note has been registered under the Securities Act
and disposed of in accordance with the Shelf Registration Statement and
(d) the date on which any Note is eligible to be distributed to the public
pursuant to Rule 144 under the Securities Act (or any successor provision
thereof) without the satisfaction of any conditions except the applicable
holding period set forth therein.

     

    “Registration
Expenses” shall mean any and all expenses incident to performance of or
compliance by the Company with this Agreement, including without
limitation:  (i) all SEC or FINRA registration and filing fees,
including, if applicable, the fees and expenses of any “qualified independent
underwriter” (and its counsel) that is required to be retained by any Holder of
Registrable Notes in accordance with the rules and regulations of the FINRA,
(ii) all fees and expenses incurred in connection with compliance with
state securities or blue sky laws (including reasonable fees and disbursements
of one counsel for all underwriters and Holders as a group in connection with
blue sky qualification of any of the Exchange Notes or the Registrable Notes)
and compliance with the rules of the FINRA, (iii) all expenses of any
Persons in preparing or assisting in preparing, word processing, printing and
distributing any Registration Statement, any Prospectus and any amendments or
supplements thereto, and in preparing or assisting in preparing, printing and
distributing any underwriting agreements, securities sale agreements and other
documents relating to the performance of and compliance with this Agreement,
(iv) all rating agency fees, (v) all reasonable fees and disbursements
of counsel for the Company and of the independent registered public accountants
of the Company, including the expenses of any “cold comfort” letters required by
or incident to the performance of and compliance with this Agreement,
(vi) all reasonable fees and expenses of the Trustee and its 

     

    
      
        
        

      

      
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    counsel
and any exchange agent or custodian, and (vii) all reasonable fees and
expenses of any special experts retained by the Company in connection with any
Registration Statement.

     

    “Registration
Statement” shall mean any registration statement of the Company which covers any
of the Exchange Notes or the Registrable Notes pursuant to the provisions of
this Agreement, and all amendments and supplements to any such Registration
Statement, including post-effective amendments, in each case including the
Prospectus contained therein, all exhibits thereto and all documents
incorporated by reference therein.

     

    “Rule 144
Period” shall mean the period of one year (or such shorter period as may
hereafter be referred to in Rule 144 under the Securities Act (or similar
successor rule) permitting Holders who are not Affiliates of the Company to
resell Registrable Notes without any conditions) commencing on the Closing
Date.

     

    “SEC”
shall mean the Securities and Exchange Commission.

     

    “Securities
Act” shall mean the Securities Act of 1933, as amended from time to
time.

     

    “Shelf
Registration” shall mean a registration effected pursuant to Section 2(b)
hereof.

     

    “Shelf
Registration Event” shall have the meaning set forth in Section 2(b)
hereof.

     

    “Shelf
Registration Event Date” shall have the meaning set forth in Section 2(b)
hereof.

     

    “Shelf
Registration Statement” shall mean a “shelf” registration statement of the
Company pursuant to the provisions of Section 2(b) hereof which covers all of
the Registrable Notes (except Registrable Notes which the Holders have elected
not to include in such Shelf Registration Statement or the Holders of which have
not complied with their obligations under the penultimate paragraph of Section 3
hereof or under the first paragraph of Section 2(b) hereof) on an appropriate
form under Rule 415 under the Securities Act, or any similar rule that may be
adopted by the SEC, and all amendments and supplements to such registration
statement, including post-effective amendments, in each case including the
Prospectus contained therein, all exhibits thereto and all documents
incorporated by reference therein.

     

    “TIA”
shall have the meaning set forth in Section 3(m) hereof.

     

    “Trustee”
shall mean the trustee under the Indenture.

     

    2.           Registration Under the Securities
Act.

     

    (a)           Exchange Offer. 
Except as
set forth in Section 2(b) below, the Company shall, for the benefit of the
Holders, at the Company’s cost, (i) prepare and file with the SEC as soon
as practicable after the Closing Date, but in no event later than 120 calendar
days after the Closing Date, an Exchange Offer Registration Statement on an
appropriate form under the Securities Act relating to the Exchange Offer,
(ii) use its reasonable best efforts to cause such Exchange Offer
Registration Statement to be declared effective under the Securities Act by the
SEC as soon as practicable after the Closing Date, but in no event later than
180 calendar days after the Closing Date, (iii) provided such Exchange
Offer Registration Statement has been declared effective 

     

    
      
        
        

      

      
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    under the
Securities Act by the SEC, use its reasonable best efforts to keep the Exchange
Offer Registration Statement effective until the completion of the Exchange
Offer, and (iv) provided such Exchange Offer Registration Statement has been
declared effective under the Securities Act by the SEC, commence the Exchange
Offer and keep the Exchange Offer open for not less than 20 business days, or
longer if required by applicable law, after the date on which such Registration
Statement was declared effective by the SEC (such period referred to herein as
the “Exchange Period”), use its reasonable best efforts to cause the Exchange
Offer to be completed not later than 45 calendar days after the date on which
such Registration Statement was declared effective by the SEC, and at the
termination thereof issue Exchange Notes in exchange for all Registrable Notes
tendered prior thereto in the Exchange Offer.

     

    In
connection with the Exchange Offer, the Company shall:

     

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

     

    (ii)           use
the services of the Depositary for the Exchange Offer with respect to Notes
represented by a global certificate;

     

    (iii)           permit
Holders to withdraw tendered Registrable Notes at any time prior to the close of
business, New York City time, on the last Business Day of the Exchange Period,
by sending to the institution specified in the notice to Holders, a telegram,
telex, facsimile transmission or letter setting forth the name of such Holder,
the principal amount of Registrable Notes delivered for exchange, and a
statement that such Holder is withdrawing its election to have such Registrable
Notes exchanged;

     

    (iv)           notify
each Holder that any Registrable Note not tendered by such Holder in the
Exchange Offer will remain outstanding and continue to accrue interest but will
not retain any rights under this Agreement (except in the case of the Initial
Purchasers and Participating Broker-Dealers as provided herein);
and

     

    (v)           otherwise
comply in all material respects with all applicable laws and regulations
relating to the Exchange Offer.

     

    As soon
as practicable after the completion of the Exchange Offer, the Company
shall:

     

    (i)           accept
for exchange all Registrable Notes or portions thereof duly tendered and not
validly withdrawn pursuant to the Exchange Offer in accordance with the terms of
the Exchange Offer Registration Statement and letter of
transmittal;

     

    (ii)           deliver,
or cause to be delivered, to the Trustee for cancellation all Registrable Notes
or portions thereof so accepted for exchange by the Company; and

     

    (iii)           issue,
and cause the Trustee under the Indenture to promptly authenticate and deliver
to each Holder, Exchange Notes equal in principal amount to the principal

     

    
      
        
        

      

      
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    amount of
the Notes as are surrendered by such Holder and accepted for exchange by the
Company.

     

    Interest
on each Exchange Note issued pursuant to the Exchange Offer will accrue from the
last date on which interest was paid or duly provided for on the Note
surrendered in exchange therefor or, if no interest has been paid on such Note,
from the date of original issue of such Note.  To the extent not
prohibited by any judicial order, judgment, law, regulation or applicable
interpretation of the staff of the SEC, the Company shall use its reasonable
best efforts to complete the Exchange Offer as provided above, and shall comply
with the applicable requirements of the Securities Act, the Exchange Act and
other applicable laws and regulations in connection with the Exchange
Offer.  The Exchange Offer shall not be subject to any conditions
other than the conditions referred to in Section 2(b)(i) and (ii) below and
those conditions that are customary in similar exchange offers, except as may be
required by applicable law.  Each Holder of Registrable Notes who
wishes to exchange such Registrable Notes for Exchange Notes in the Exchange
Offer will be required, as a condition to participating in the Exchange Offer,
to make certain customary representations in connection therewith, including, in
the case of any Holder, representations that (i) it is not an Affiliate of the
Company, (ii) it is not a broker-dealer tendering Registrable Notes acquired
directly from the Company for its own account, (iii) the Notes being exchanged,
and the Exchange Notes to be received, by it have been or are being acquired in
the ordinary course of its business and (iv) at the time of the Exchange Offer,
it has no arrangements or understandings with any Person to participate in the
distribution (within the meaning of the Securities Act) of the Exchange
Notes.  The Company shall inform the Initial Purchasers, after
consultation with the Trustee, of the names and addresses of the Holders to whom
the Exchange Offer is made, and the Initial Purchasers shall have the right to
contact such Holders in order to facilitate the tender of Registrable Notes in
the Exchange Offer.

     

    Upon
consummation of the Exchange Offer in accordance with this Section 2(a),
the provisions of this Agreement shall continue to apply, mutatis mutandis, solely with
respect to Notes or Exchange Notes held by Initial Purchasers and Participating
Broker-Dealers, and the Company shall have no further obligation to register the
Registrable Notes held by any other Holder pursuant to Section 2(b) of this
Agreement.

     

    (b)           Shelf Registration. 
If
(i) because of any change in law, regulation or in currently prevailing
interpretations thereof by the staff of the SEC, the Company is not permitted to
effect the Exchange Offer as contemplated by Section 2(a) hereof, (ii) the
Exchange Offer is not consummated within 225 calendar days after the Closing
Date or (iii) any Holder of Registrable Notes that is a “qualified institutional
buyer” (as defined in Rule 144A under the Securities Act) shall notify the
Company prior to the 20th calendar day following the consummation of the
Exchange Offer (A) that such Holder was prohibited by applicable law or SEC
policy from participating in the Exchange Offer, or (B) that such Holder may not
resell the Exchange Notes acquired by it in the Exchange Offer to the public
without delivering a prospectus and that the Prospectus contained in the
Exchange Offer Registration Statement is not appropriate or available for such
resales by such Holder, or (C) that such Holder is a Participating Broker-Dealer
and holds Notes acquired directly from the Company or one of its Affiliates (any
of the events specified in (i), (ii) or (iii) being a “Shelf Registration
Event”, and the date of occurrence thereof, the “Shelf Registration Event
Date”), then in addition to or in lieu of conducting the 

     

    
      
        
        

      

      
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    Exchange
Offer contemplated by Section 2(a) of this Agreement, as the case may be, the
Company shall promptly notify the Holders in writing thereof and shall, at its
cost, file with the SEC as promptly as practicable after such Shelf Registration
Event Date and, in any event, within 45 calendar days after such Shelf
Registration Event Date, or, if later, the 120th calendar day after the Closing
Date, a Shelf Registration Statement providing for the sale by the Holders of
all of the Registrable Notes (other than Registrable Notes owned by Holders who
have elected not to include such Registrable Notes in such Shelf Registration
Statement or who have not complied with their obligations under the penultimate
paragraph of Section 3 hereof or under this paragraph), and shall use its
reasonable best efforts to cause such Shelf Registration Statement to be
declared effective by the SEC as soon as practicable and in any event, on or
before the 120th calendar day after the Shelf Registration Event Date or, if
later, the 225th calendar day after the Closing Date.  No Holder of
Registrable Notes shall be entitled to include any of its Registrable Notes in
any Shelf Registration pursuant to this Agreement unless and until such Holder
agrees in writing to be bound by all of the provisions of this Agreement
applicable to such Holder and furnishes to the Company in writing, within 15
calendar days after receipt of a request therefor, such information as the
Company may, after conferring with counsel with regard to information relating
to Holders that would be required by the SEC to be included in such Shelf
Registration Statement or Prospectus included therein, reasonably request for
inclusion in any Shelf Registration Statement or Prospectus included
therein.  Each Holder as to which any Shelf Registration is being
effected agrees to furnish to the Company, without request and as soon as
practicable, all information with respect to such Holder necessary to make the
information previously furnished to the Company by such Holder not materially
misleading.

     

    The
Company agrees to use its reasonable best efforts to keep the Shelf Registration
Statement continuously effective and the Prospectus usable for resales for the
earlier of: (x) the expiration of the Rule 144 Period and (y) such time as all
of the Notes covered by the Shelf Registration Statement have been sold pursuant
to the Shelf Registration Statement or cease to be Registrable Notes (the period
from the effective date of the Shelf Registration Statement until the earlier of
the events described in clauses (x) and (y) being the “Effectiveness
Period”).  The Company shall not permit any securities other than
Registrable Notes to be included in the Shelf Registration.  The
Company will, in the event a Shelf Registration Statement is declared effective,
provide to each Holder of Registrable Notes covered thereby, a reasonable number
of copies of the Prospectus which is a part of the Shelf Registration Statement,
notify each such Holder when the Shelf Registration has become effective and
take any other action required to permit unrestricted resales of the Registrable
Notes.  The Company further agrees to supplement or amend the Shelf
Registration Statement, if required by the rules, regulations or instructions
applicable to the registration form used by the Company for such Shelf
Registration Statement or by the Securities Act or by any other rules and
regulations thereunder for shelf registrations, and the Company agrees to
furnish to the Holders of Registrable Notes covered by such Shelf Registration
Statement copies of any such supplement or amendment promptly after its being
used or filed with the SEC.

     

    (c)           Expenses.  The
Company shall pay all Registration Expenses in connection with any Registration
Statement filed pursuant to Section 2(a) and/or 2(b) hereof and will reimburse
the Initial Purchasers for the reasonable fees and disbursements incurred by the
firm of counsel in connection with the Exchange Offer.  Except as
provided herein, each Holder shall pay all expenses of its counsel, underwriting
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    relating
to the sale or disposition of such Holder’s Registrable Notes pursuant to the
Shelf Registration Statement.

     

    (d)           Effective Registration
Statement.  An
Exchange Offer Registration Statement pursuant to Section 2(a) hereof or a Shelf
Registration Statement pursuant to Section 2(b) hereof will not be deemed to
have become effective unless it has been declared effective by the SEC; provided, however, that if,
after it has been declared effective, the offering of Registrable Notes pursuant
to such Exchange Offer Registration Statement or Shelf Registration Statement is
interfered with by any stop order, injunction or other order or requirement of
the SEC or any other governmental agency or court, such Exchange Offer
Registration Statement or Shelf Registration Statement will be deemed not to
have been effective during the period of such interference, until the offering
of Registrable Notes pursuant to such Registration Statement may legally
resume.  The Company will be deemed not to have used its reasonable
best efforts to cause the Exchange Offer Registration Statement or the Shelf
Registration Statement, as the case may be, to become, or to remain, effective
during the requisite period if it voluntarily takes any action that would result
in any such Registration Statement not being declared effective or that would
result in the otherwise eligible Holders of Registrable Notes covered thereby
not being able to exchange or offer and sell such Registrable Notes during that
period, unless such action is required by applicable law or regulation or
otherwise permitted by provisions of this Agreement.

     

    (e)           Additional Interest. 
In the
event that:

     

    (i)           the
Exchange Offer Registration Statement is not filed with the SEC on or prior to
the 120th calendar day after the Closing Date, then, commencing on the 121st
calendar day after the Closing Date, additional interest (the “Additional
Interest”) shall accrue on the principal amount of the Registrable Notes over
and above the otherwise applicable interest rate at a rate of 0.25% per annum,
plus an additional 0.25% per annum from and during any period in which such
event has continued for more than 90 calendar days;

     

    (ii)           the
Exchange Offer Registration Statement is not declared effective by the SEC on or
prior to the 180th calendar day after the Closing Date, then, commencing on the
181st calendar day after the Closing Date, Additional Interest shall accrue on
the principal amount of the Registrable Notes over and above the otherwise
applicable interest rate at a rate of 0.25% per annum, plus an additional 0.25%
per annum from and during any period in which such event has continued for more
than 90 calendar days;

     

    (iii)           (A)
the Company has not exchanged Exchange Notes for all Notes validly tendered and
not validly withdrawn, in accordance with the terms of the Exchange Offer, on or
prior to the 225th calendar day after the Closing Date or (B) if the Shelf
Registration Statement is required to be filed pursuant to Section 2(b) of this
Agreement but is not declared effective by the SEC on or prior to the later of
120 calendar days after the Shelf Registration Event Date and the 225th calendar
day after the Closing Date, then, commencing on the 121st
calendar day after such Shelf Registration Event Date or the 226th calendar day
after the Closing Date, as the case may be, Additional Interest shall accrue on
the principal amount of the Registrable Notes over and above the otherwise
applicable interest rate at the rate of 0.25% per annum, plus an additional
0.25% per

     

    
      
        
        

      

      
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     annum
from and during any period in which such event has continued for more than 90
calendar days;

     

    (iv)           the
Exchange Offer Registration Statement has been declared effective and such
Exchange Offer Registration Statement ceases to be continuously effective or the
Prospectus contained in such Exchange Offer Registration Statement ceases to be
usable for its intended purpose (A) at any time prior to the expiration of the
Applicable Period or (B) if related to corporate developments, public filings
with the SEC or similar events or because the Prospectus contains an untrue
statement of a material fact or omits to state a material fact required to be
stated therein or necessary in order to make the statements therein not
misleading, and such failure continues for more than 45 days (whether or not
consecutive and whether or not arising out of a single or multiple
circumstances) in any twelve-month period, Additional Interest shall accrue on
the principal amount of the Registrable Notes over and above the otherwise
applicable interest rate at a rate of 0.25% per annum commencing on the day that
(in the case of (A) above), or the 46th (cumulative) day after (in the case of
(B) above), such Exchange Offer Registration Statement ceases to be effective or
the Prospectus ceases to be usable for its intended purposes, plus an additional
0.25% per annum from and during any period in which such event has continued for
more than 90 calendar days; or

     

    (v)           the
Shelf Registration Statement has been declared effective and such Shelf
Registration Statement ceases to be continuously effective or the Prospectus
contained in such Shelf Registration Statement ceases to be usable for resales
(A) at any time prior to the expiration of the Effectiveness Period or (B) if
related to corporate developments, public filings with the SEC or similar events
or because the Prospectus contains an untrue statement of a material fact or
omits to state a material fact required to be stated therein or necessary in
order to make the statements therein not misleading, and such failure continues
for more than 45 days (whether or not consecutive and whether or not arising out
of a single or multiple circumstances) in any twelve-month period, Additional
Interest shall accrue on the principal amount of the Registrable Notes over and
above the otherwise applicable interest rate at a rate of 0.25% per annum
commencing on the day that (in the case of (A) above), or the 46th (cumulative)
day after (in the case of (B) above), such Shelf Registration Statement ceases
to be effective or the Prospectus ceases to be usable for resales, plus an
additional 0.25% per annum from and during any period in which such event has
continued for more than 90 calendar days;

     

    provided, however, that the
aggregate amount of Additional Interest in respect of the Registrable Notes may
not exceed 0.50% per annum (regardless of whether multiple events triggering
Additional Interest under this subsection (e) exist); provided, further, however,
that (1) upon the filing of the Exchange Offer Registration Statement (in the
case of clause (i) above), (2) upon the effectiveness of the Exchange Offer
Registration Statement (in the case of clause (ii) above), (3) upon the exchange
of Exchange Notes for all Notes validly tendered and not validly withdrawn (in
the case of clause (iii)(A) above) or upon the effectiveness of the Shelf
Registration Statement (in the case of clause (iii)(B) above), (4) upon the
earlier of (x) such time as the Exchange Offer Registration Statement which had
ceased to remain effective or the Prospectus which had ceased to be usable for
its intended purpose
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    purpose,
as applicable, and (y) the expiration of the Applicable Period (each in the case
of clause (iv) above), and (5) upon the earlier of (x) such time as the Shelf
Registration Statement which had ceased to remain effective or the Prospectus
which had ceased to be usable for resales again becomes effective and usable for
resales, as applicable, and (y) the expiration of the Effectiveness Period (each
in the case of clause (v) above), Additional Interest on the principal amount of
the Registrable Notes as a result of such clause (or the relevant subclause
thereof) shall cease to accrue;

     

    provided, further, however,
that if (i) the Holders do not make the representations required by Section 2(a)
of this Agreement or (ii) the Company shall request Holders to provide the
information required by the SEC for inclusion in the Shelf Registration
Statement, when required pursuant to Section 2(b) of this Agreement, then the
Notes owned by Holders who do not provide such representations or information,
as the case may be, when required will not be entitled to any Additional
Interest for any day after the Closing Date, regardless of the existence of any
events which would otherwise trigger  Additional Interest under this
subsection (e) for such Holders.

     

    Any
Additional Interest due pursuant to Section 2(e)(i), (ii), (iii), (iv) or (v)
above will be payable in cash on the next succeeding April 1 or October 1, as
the case may be, to eligible Holders (as determined under this subsection (e))
on the relevant record dates for the payment of interest pursuant to the
Indenture.

     

    (f)           Specific Enforcement. 
Without
limiting the remedies available to the Holders, the Company acknowledges that
any failure by the Company to comply with its obligations under Section 2(a) and
Section 2(b) hereof may result in material irreparable injury to the Holders for
which there is no adequate remedy at law, that it would not be possible to
measure damages for such injuries precisely and that, in the event of any such
failure, any Holder may obtain such relief as may be required to specifically
enforce the Company’s obligations under Section 2(a) and Section 2(b)
hereof.

     

    3.           Registration Procedures. 
In
connection with the obligations of the Company with respect to the Registration
Statements pursuant to Sections 2(a) and 2(b) hereof, the Company
shall:

     

    (a)           prepare
and file with the SEC a Registration Statement or Registration Statements as
prescribed by Sections 2(a) and 2(b) hereof within the relevant time period
specified in Section 2 hereof on the appropriate form under the Securities Act,
which form shall (i) be selected by the Company, (ii) in the case of a Shelf
Registration, be available for the sale of the Registrable Notes by the selling
Holders thereof and, in the case of an Exchange Offer, be available for the
exchange of Registrable Notes, and (iii) comply as to form in all material
respects with the requirements of the applicable form and include all financial
statements required by the SEC to be filed therewith; and use its reasonable
best efforts to cause such Registration Statement to become effective and remain
effective (and, in the case of a Shelf Registration Statement, the Prospectus to
be usable for resales) in accordance with Section 2 hereof; provided, however, that if
(1) such filing is pursuant to Section 2(b) of this Agreement, or (2) a
Prospectus contained in an Exchange Offer Registration Statement filed pursuant
to Section 2(a) of this Agreement is required to be delivered under the
Securities Act by any Participating 

     

    
      
        
        

      

      
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    Broker-Dealer
who seeks to sell Exchange Notes, before filing any Registration Statement or
Prospectus or any amendments or supplements thereto, the Company shall furnish
to and afford the Holders of the Registrable Notes and each such Participating
Broker-Dealer, as the case may be, covered by such Registration Statement, their
counsel and the managing underwriters, if any, a reasonable opportunity to
review copies of all such documents (including, upon request, copies of any
documents to be incorporated by reference therein and all exhibits thereto)
proposed to be filed; and the Company shall not file any Registration Statement
or Prospectus or any amendments or supplements thereto in respect of which the
Holders must be afforded an opportunity to review prior to the filing of such
document if the Majority Holders of the Registrable Notes, depending solely upon
which Holders must be afforded the opportunity of such review, or such
Participating Broker-Dealer, as the case may be, their counsel or the managing
underwriters, if any, shall reasonably object in a timely manner;

     

    (b)           prepare
and file with the SEC such amendments and post-effective amendments to each
Registration Statement as may be necessary to keep such Registration Statement
effective for the Effectiveness Period or the Applicable Period, as the case may
be, and cause each Prospectus to be supplemented, if so determined by the
Company or requested by the SEC, by any required prospectus supplement and as so
supplemented to be filed pursuant to Rule 424 (or any similar provision then in
force) under the Securities Act, and comply with the provisions of the
Securities Act, the Exchange Act and the rules and regulations promulgated
thereunder applicable to it with respect to the disposition of all Notes covered
by each Registration Statement during the Effectiveness Period or the Applicable
Period, as the case may be, in accordance with the intended method or methods of
distribution by the selling Holders thereof described in this Agreement
(including sales by any Participating Broker-Dealer);

     

    (c)           in
the case of an Exchange Offer Registration Statement, if in the reasonable
opinion of counsel to the Company there is a question as to whether the Exchange
Offer is permitted by applicable law, seek a no-action letter or other favorable
decision from the SEC allowing the Company to consummate an Exchange Offer for
such Notes.  The Company hereby agrees to pursue the issuance of such
a decision to the SEC staff level but shall not be required to take commercially
unreasonable action to effect a change of SEC policy.  The Company
hereby agrees, however, to (i) participate in telephonic conferences with the
SEC, (ii) deliver to the SEC staff an analysis prepared by counsel to the
Company setting forth the legal bases, if any, upon which such counsel has
concluded that such an Exchange Offer should be permitted and (iii) diligently
pursue a resolution (which need not be favorable) by the SEC staff of such
submission;

     

    (d)           in
the case of an Exchange Offer Registration Statement, prior to the effectiveness
of such statement, provide a supplemental letter to the SEC (i) stating that the
Company is registering the Exchange Offer in reliance on the position of the SEC
enunciated in Exxon
Capital Holdings Corporation (available May 13, 1988), Morgan Stanley and Co.,
Inc. (available June 5, 1991), Brown & Wood LLP
(available February 7, 1997) and, if applicable, any no-action letter obtained
pursuant to Section 3(c) of this Agreement and (ii) including a representation
that the Company has not entered into any arrangement or understanding with any
Person to distribute the Exchange Notes to be received in the Exchange Offer and
that, to the best of the Company’s information and belief, each Holder
participating in the Exchange Offer is acquiring the Exchange Notes in its
ordinary course of business and has no arrangement or 

     

    
      
        
        

      

      
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    understanding
with any Person to participate in the distribution of the Exchange Notes
received in the Exchange Offer;

     

    (e)           in
the case of a Shelf Registration, (i) notify each Holder of Registrable Notes
included in the Shelf Registration Statement, at least five Business Days prior
to filing, that a Shelf Registration Statement with respect to the Registrable
Notes is being filed and advising such Holder that the distribution of
Registrable Notes will be made in accordance with the method selected by the
Majority Holders of the Registrable Notes, (ii) furnish to each Holder of
Registrable Notes included in the Shelf Registration Statement and to each
underwriter of an underwritten offering of Registrable Notes, if any, without
charge, as many copies of each Prospectus, including each preliminary
prospectus, and any amendment or supplement thereto, and such other documents as
such Holder or underwriter may reasonably request, in order to facilitate the
public sale or other disposition of the Registrable Notes and (iii) consent to
the use of the Prospectus or any amendment or supplement thereto by each of the
selling Holders of Registrable Notes included in the Shelf Registration
Statement in connection with the offering and sale of the Registrable Notes
covered by the Prospectus or any amendment or supplement thereto;

     

    (f)           in
the case of a Shelf Registration, register or qualify the Registrable Notes
under all applicable state securities or “blue sky” laws of such jurisdictions
by the time the applicable Registration Statement is declared effective by the
SEC as any Holder of Registrable Notes covered by a Registration Statement and
each underwriter of an underwritten offering of Registrable Notes shall
reasonably request in writing in advance of such date of effectiveness, and do
any and all other acts and things which may be reasonably necessary or advisable
to enable such Holder and underwriter to consummate the disposition in each such
jurisdiction of such Registrable Notes owned by such Holder; provided, however, that the
Company shall not be required to (i) qualify as a foreign corporation or as a
dealer in securities in any jurisdiction where it would not otherwise be
required to qualify but for this Section 3(f), (ii) file any general consent to
service of process in any jurisdiction where it would not otherwise be subject
to such service of process or (iii) subject itself to taxation in any such
jurisdiction if it is not then so subject;

     

    (g)           (1)
in the case of a Shelf Registration or (2) if Participating Broker-Dealers
from whom the Company has received prior written notice that they will be using
the Prospectus contained in the Exchange Offer Registration Statement as
provided in Section 3(u) hereof, are seeking to sell Exchange Notes and are
required to deliver Prospectuses, promptly notify each Holder of Registrable
Notes, or such Participating Broker-Dealers, as the case may be, their counsel
and the managing underwriters, if any, and promptly confirm such notice in
writing (i) when a Registration Statement has become effective and when any
post-effective amendments thereto become effective, (ii) of any request by the
SEC or any state securities authority for amendments and supplements to a
Registration Statement or Prospectus or for additional information after the
Registration Statement has become effective, (iii) of the issuance by the SEC or
any state securities authority of any stop order suspending the effectiveness of
a Registration Statement or the qualification of the Registrable Notes or the
Exchange Notes to be offered or sold by any Participating Broker-Dealer in any
jurisdiction described in Section 3(f) hereof or the initiation of any
proceedings for that purpose, (iv) in the case of a Shelf Registration, if,
between the effective date of a Registration Statement and the 

     

    
      
        
        

      

      
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    closing
of any sale of Registrable Notes covered thereby, the representations and
warranties of the Company contained in any purchase agreement, securities sales
agreement or other similar agreement cease to be true, correct and complete in
all material respects, (v) of the happening of any event or the failure of
any event to occur or the discovery of any facts, during the Effectiveness
Period, which makes any statement made in such Registration Statement or the
related Prospectus untrue in any material respect or which causes such
Registration Statement or Prospectus to omit to state a material fact necessary
in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading, as well as any other corporate
developments, public filings with the SEC or similar events causing such
Registration Statement not to be effective or the Prospectus not to be useable
for resales and (vi) of the reasonable determination of the Company that a
post-effective amendment to the Registration Statement would be
appropriate;

     

    (h)           obtain
the withdrawal of any order suspending the effectiveness of a Registration
Statement as soon as practicable;

     

    (i)           in
the case of a Shelf Registration, furnish to each Holder of Registrable Notes
included within the coverage of such Shelf Registration Statement, without
charge, at least one conformed copy of each Registration Statement relating to
such Shelf Registration and any post-effective amendment thereto (without
documents incorporated therein by reference or exhibits thereto, unless
requested);

     

    (j)           in
the case of a Shelf Registration, cooperate with the selling Holders of
Registrable Notes to facilitate the timely preparation and delivery of
certificates representing Registrable Notes to be sold and not bearing any
restrictive legends (except any customary legend borne by securities held
through The Depository Trust Company or any similar depositary) and in such
denominations (consistent with the provisions of the Indenture and the officer’s
certificate establishing the forms and the terms of the Notes pursuant to the
Indenture) and registered in such names as the selling Holders or the
underwriters may reasonably request (provided such names are consistent with the
names of the selling security holders set forth in the Shelf Registration
Statement) at least two Business Days prior to the closing of any sale of
Registrable Notes pursuant to such Shelf Registration Statement;

     

    (k)           in
the case of a Shelf Registration or an Exchange Offer Registration, promptly
after the occurrence of any event specified in Section 3(g)(ii), 3(g)(iii),
3(g)(v) (subject to the 45-day cumulative grace period within any twelve-month
period provided for in Section 2(e)(iv)(B) and Section 2(e)(v)(B)) and 3(g)(vi)
hereof, prepare a supplement or post-effective amendment to such Registration
Statement or the related Prospectus or any document incorporated therein by
reference or file any other required document so that, as thereafter delivered
to the purchasers of the Registrable Notes, such Prospectus will not include any
untrue statement of a material fact or omit to state a material fact necessary
to make the statements therein, in the light of the circumstances under which
they were made, not misleading; and the Company shall notify each Holder to
suspend use of the Prospectus as promptly as practicable after the occurrence of
such an event, and each Holder hereby agrees to suspend use of the Prospectus
until the Company has amended or supplemented the Prospectus to correct such
misstatement or omission;

     

    
      
        
        

      

      
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    (l)           obtain
a CUSIP number, and any other appropriate security identification number, for
the Exchange Notes or the Registrable Notes, as the case may be, not later than
the effective date of a Registration Statement, and provide the Trustee with
certificates for the Exchange Notes or the Registrable Notes, as the case may
be, in a form eligible for deposit with the Depositary;

     

    (m)           cause
the Indenture to be qualified under the Trust Indenture Act of 1939, as amended
(the “TIA”), in connection with the registration of the Exchange Notes or
Registrable Notes, as the case may be, and cooperate with the Trustee and the
Holders to effect such changes to such documents as may be required for them to
be so qualified in accordance with the terms of the TIA and execute, and use its
reasonable best efforts to cause the Trustee to execute, all documents as may be
required to effect such changes, and all other forms and documents required to
be filed with the SEC to enable such documents to be so qualified in a timely
manner;

     

    (n)           in
the case of a Shelf Registration, enter into such agreements (including
underwriting agreements) as are customary in underwritten offerings and take all
such other appropriate actions in connection therewith as are reasonably
requested by the Holders of at least 25% in aggregate principal amount of the
Registrable Notes covered thereby in order to expedite or facilitate the
registration or the disposition of the Registrable Notes;

     

    (o)           in
the case of a Shelf Registration, whether or not an underwriting agreement is
entered into and whether or not the registration is an underwritten
registration, if requested by (x) an Initial Purchaser, in the case where such
Initial Purchaser holds Notes acquired by it as part of its initial placement,
or (y) Holders of at least 25% in aggregate principal amount of the Registrable
Notes covered thereby: (i) make such representations and warranties to
Holders of such Registrable Notes and the underwriters (if any), with respect to
the business of the Company as then conducted and the Registration Statement,
Prospectus and documents, if any, incorporated or deemed to be incorporated by
reference therein, in each case, as are customarily made by issuers to
underwriters in underwritten offerings, and confirm the same if and when
requested; (ii) obtain opinions of counsel to the Company and updates thereof
(which may be in the form of a reliance letter) in form and substance reasonably
satisfactory to the managing underwriters (if any) and the Holders of a majority
in amount of the Registrable Notes being sold, addressed to each selling Holder
and the underwriters (if any) covering the matters customarily covered in
opinions requested in underwritten offerings and such other matters as may be
reasonably requested by such underwriters (it being agreed that the matters to
be covered by such opinion may be subject to customary qualifications and
exceptions); (iii) obtain “cold comfort” letters and updates thereof in
form and substance reasonably satisfactory to the managing underwriters from the
independent registered public accountants of the Company, addressed to each of
the underwriters, such letters to be in customary form and covering matters of
the type customarily covered in “cold comfort” letters in connection with
underwritten offerings and such other matters as reasonably requested by such
underwriters in accordance with Statement on Auditing Standards No. 72; and
(iv) if an underwriting agreement is entered into, the same shall contain
indemnification provisions and procedures no less favorable than those set forth
in Section 4 hereof (or such other provisions and procedures acceptable to
Holders of a majority in aggregate principal amount of Registrable Notes covered
by such Registration Statement and the managing underwriters) customary for such
agreements with respect to all 

     

    
      
        
        

      

      
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    parties
to be indemnified pursuant to said Section (including, without limitation, such
underwriters and selling Holders); and in the case of an underwritten
registration, the above requirements shall be satisfied at each closing under
the related underwriting agreement or as and to the extent required
thereunder;

     

    (p)           if
(1) a Shelf Registration is filed pursuant to Section 2(b) or (2) a
Prospectus contained in an Exchange Offer Registration Statement filed pursuant
to Section 2(a) is required to be delivered under the Securities Act by any
Participating Broker-Dealer who seeks to sell Exchange Notes during the
Applicable Period, make reasonably available for inspection by any selling
Holder of Registrable Notes or Participating Broker-Dealer, as applicable, who
certifies to the Company that it has a current intention to sell Registrable
Notes pursuant to the Shelf Registration, any underwriter participating in any
such disposition of Registrable Notes, if any, and any attorney, accountant or
other agent retained by any such selling Holder, Participating Broker-Dealer, as
the case may be, or underwriter (collectively, the “Inspectors”), at the offices
where normally kept, during the Company’s normal business hours, all financial
and other records, pertinent organizational and operational documents and
properties of the Company (collectively, the “Records”) as shall be reasonably
necessary to enable them to conduct due diligence activities, and cause the
officers, trustees and employees of the Company to supply all relevant
information in each case reasonably requested by any such Inspector in
connection with such Registration Statement; Records and information which the
Company determines, in good faith, to be confidential and any Records and
information which it notifies the Inspectors are confidential shall not be
disclosed to any Inspector except where (i) the disclosure of such Records
or information is necessary to avoid or correct a material misstatement or
omission in such Registration Statement, (ii) the release of such Records
or information is ordered pursuant to a subpoena or other order from a court of
competent jurisdiction or is necessary in connection with any action, suit or
proceeding or (iii) such Records or information previously has been made
generally available to the public; each selling Holder of such Registrable Notes
and each such Participating Broker-Dealer will be required to agree in writing
that Records and information obtained by it as a result of such inspections
shall be deemed confidential and shall not be used by it as the basis for any
market transactions in the securities of the Company unless and until such is
made generally available to the public through no fault of an Inspector or a
selling Holder; and each selling Holder of such Registrable Notes and each such
Participating Broker-Dealer will be required to further agree in writing that it
will, upon learning that disclosure of such Records or information is sought in
a court of competent jurisdiction, or in connection with any action, suit or
proceeding, give notice to the Company and allow the Company at its expense to
undertake appropriate action to prevent disclosure of the Records and
information deemed confidential;

     

    (q)           comply
with all applicable rules and regulations of the SEC so long as any provision of
this Agreement shall be applicable and make generally available to its security
holders earning statements satisfying the provisions of Section 11(a) of the
Securities Act and Rule 158 thereunder (or any similar rule promulgated under
the Securities Act) no later than 45 days after the end of any 12-month period
(or 90 days after the end of any 12-month period if such period is a fiscal
year) (i) commencing at the end of any fiscal quarter in which Registrable
Notes are sold to underwriters in a firm commitment or best efforts underwritten
offering and (ii) if not sold to underwriters in such an offering,
commencing on the first day of the first fiscal quarter of the Company after the
effective date of a Registration Statement, which 

     

    
      
        
        

      

      
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    statements
shall cover said 12-month periods, provided that the obligations
under this paragraph (q) shall be satisfied by the timely filing of quarterly
and annual reports on Forms 10-Q and 10-K under the Exchange Act;

     

    (r)           if
an Exchange Offer is to be consummated, upon delivery of the Registrable Notes
by Holders to the Company (or to such other Person as directed by the Company),
in exchange for the Exchange Notes, the Company shall mark, or cause to be
marked, on such Notes delivered by such Holders that such Notes are being
cancelled in exchange for the Exchange Notes; it being understood that in no
event shall such Notes be marked as paid or otherwise satisfied;

     

    (s)           cooperate
with each seller of Registrable Notes covered by any Registration Statement and
each underwriter, if any, participating in the disposition of such Registrable
Notes and their respective counsel in connection with any filings required to be
made with the FINRA;

     

    (t)           take
all other steps reasonably necessary to effect the registration of the
Registrable Notes covered by a Registration Statement contemplated
hereby;

     

    (u)           (A)  in
the case of the Exchange Offer Registration Statement (i) include in the
Exchange Offer Registration Statement a section entitled “Plan of Distribution,”
which section shall be reasonably acceptable to the Initial Purchasers or
another representative of the Participating Broker-Dealers, and which shall
contain a summary statement of the positions taken or policies made by the staff
of the SEC with respect to the potential “underwriter” status of any
broker-dealer that holds Registrable Notes acquired for its own account as a
result of market-making activities or other trading activities (a “Participating
Broker-Dealer”) and that will be the beneficial owner (as defined in Rule 13d-3
under the Exchange Act) of Exchange Notes to be received by such broker-dealer
in the Exchange Offer, whether such positions or policies have been publicly
disseminated by the staff of the SEC or such positions or policies, in the
reasonable judgment of the Initial Purchasers or such other representative,
represent the prevailing views of the staff of the SEC, including a statement
that any such broker-dealer who receives Exchange Notes for Registrable Notes
pursuant to the Exchange Offer may be deemed a statutory underwriter and must
deliver a prospectus meeting the requirements of the Securities Act in
connection with any resale of such Exchange Notes, (ii) furnish to each
Participating Broker-Dealer who has delivered to the Company the notice referred
to in Section 3(g) of this Agreement, without charge, as many copies of each
Prospectus included in the Exchange Offer Registration Statement, including any
preliminary Prospectus, and any amendment or supplement thereto, as such
Participating Broker-Dealer may reasonably request (the Company hereby consents
to the use of the Prospectus forming part of the Exchange Offer Registration
Statement or any amendment or supplement thereto by any Person subject to the
prospectus delivery requirements of the Securities Act, including all
Participating Broker-Dealers, in connection with the sale or transfer of the
Exchange Notes covered by the Prospectus or any amendment or supplement
thereto), (iii) use its 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
under the Securities Act and applicable rules and 

     

    
      
        
        

      

      
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    regulations
in order to resell the Exchange Notes; provided, however, that such
period shall not be required to exceed one year following the completion of the
Exchange Offer (or such longer period if extended pursuant to the last sentence
of Section 3 hereof) (the “Applicable Period”), and (iv) include in the
transmittal letter or similar documentation to be executed by an exchange
offeree in order to participate in the Exchange Offer (x) the following
provision:

     

    “If the
exchange offeree is a broker-dealer holding Registrable Notes acquired for its
own account as a result of market-making activities or other trading activities,
it will deliver a prospectus meeting the requirements of the Securities Act in
connection with any resale of Exchange Notes received in respect of such
Registrable Notes pursuant to the Exchange Offer”;

     

    and (y) a
statement to the effect that by a Participating Broker-Dealer making the
acknowledgment described in clause (x) and by delivering a Prospectus in
connection with the exchange of Registrable Notes, the Participating
Broker-Dealer will not be deemed to admit that it is an underwriter within the
meaning of the Securities Act; and (B) in the case of any Exchange Offer
Registration Statement, the Company agrees to deliver to the Initial Purchasers
or to another representative of the Participating Broker-Dealers, if reasonably
requested by an Initial Purchaser or such other representative of Participating
Broker-Dealers, on behalf of the Participating Broker-Dealers upon consummation
of the Exchange Offer (i) an opinion of counsel in form and substance reasonably
satisfactory to such Initial Purchaser or such other representative of the
Participating Broker-Dealers, covering the matters customarily covered in
opinions requested in connection with Exchange Offer Registration Statements and
such other matters as may be reasonably requested (it being agreed that the
matters to be covered by such opinion may be subject to customary qualifications
and exceptions), (ii) an officer’s certificate substantially similar to that
specified in Section 7(f) of the Purchase Agreement and such additional
certifications as are customarily delivered in a public offering of debt and
(iii) upon the effectiveness of the Exchange Offer Registration Statement,
comfort letters, in each case, in customary form if permitted by Statement on
Auditing Standards No. 72.

     

    The
Company may require each seller of Registrable Notes as to which any
registration is being effected to furnish to the Company such information
regarding such seller and the proposed disposition by said seller as may be
required by the staff of the SEC to be included in a Registration
Statement.  The Company may exclude from such registration the
Registrable Notes of any seller who fails to furnish such information within a
reasonable time after receiving such request.  The Company shall have
no obligation to register under the Securities Act the Registrable Notes of a
seller who so fails to furnish such information.

     

    In the
case of a Shelf Registration Statement, or if Participating Broker-Dealers who
have notified the Company that they will be using the Prospectus contained in
the Exchange Offer Registration Statement as provided in this Section 3(u) are
seeking to sell Exchange Notes and are required to deliver Prospectuses, each
Holder agrees that, upon receipt of any notice from the Company of the
occurrence of any event specified in Section 3(g)(ii), 3(g)(iii), 3(g)(v) or
3(g)(vi) hereof, such Holder will forthwith discontinue disposition of
Registrable Notes pursuant to a Registration Statement until such Holder’s
receipt of the copies of the supplemented or amended Prospectus contemplated by
Section 3(k) hereof or until it is advised 

     

    
      
        
        

      

      
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    in
writing (the “Advice”) by the Company that the use of the applicable Prospectus
may be resumed, and, if so directed by the Company, such Holder will deliver to
the Company (at the Company’s expense) all copies in such Holder’s possession,
other than permanent file copies then in such Holder’s possession, of the
Prospectus covering such Registrable Notes or Exchange Notes, as the case may
be, current at the time of receipt of such notice.  If the Company
shall give any such notice to suspend the disposition of Registrable Notes or
Exchangeable Notes, as the case may be, pursuant to a Registration Statement,
the Company shall use its reasonable best efforts to file and have declared
effective (if an amendment), as soon as practicable after the resolution of the
related matters, an amendment or supplement to the Registration Statement and
shall extend the period during which such Registration Statement is required to
be maintained effective and the Prospectus usable for resales pursuant to this
Agreement by the number of days in the period from and including the date of the
giving of such notice to and including the date when the Company shall have made
available to the Holders (x) copies of the supplemented or amended
Prospectus necessary to resume such dispositions or (y) the Advice.

     

    4.           Indemnification and
Contribution.  (a)  In
connection with a Shelf Registration Statement or in connection with any
delivery of a Prospectus contained in an Exchange Offer Registration Statement
by any Participating Broker-Dealer or Initial Purchaser, as applicable, who
seeks to sell Exchange Notes, the Company shall indemnify, defend and hold
harmless each Holder of Registrable Notes included within any such Shelf
Registration Statement and each Participating Broker-Dealer or Initial Purchaser
selling Exchange Notes, underwriters, their officers and employees, and each
Person, if any, who controls any such Person within the meaning of Section 15 of
the Securities Act or Section 20 of the Exchange Act from and against any and
all losses, claims, damages or liabilities, joint or several, to which that
Holder, Participating Broker-Dealer, Initial Purchaser, underwriter, officer,
employee or controlling person may become subject, under the Securities Act or
any other statute or common law and shall reimburse each Holder, Participating
Broker-Dealer, Initial Purchaser, underwriter, officer, employee or controlling
person for any legal or other expenses (including to the extent hereinafter
provided, reasonable counsel fees) incurred by that Holder, Participating
Broker-Dealer, Initial Purchaser, underwriter, officer, employee or controlling
person in connection with investigating any such losses, claims, damages,
liabilities or in connection with defending any action, insofar as such losses,
claims, damages, liabilities, expenses or actions arise out of, or are based
upon, (A) any untrue statement or alleged untrue statement of a material fact
contained in any Registration Statement (or any amendment thereto) or Prospectus
(or any amendment or supplement thereto), covering Registrable Notes or Exchange
Notes, as applicable, (B) the omission or alleged omission to state in any
Registration Statement (or any amendment thereto) or Prospectus (or any
amendment or supplement thereto) any material fact required to be stated therein
or necessary to make the statements therein not misleading, or (C) any act or
failure to act or any alleged act or failure to act by any Holder, Participating
Broker-Dealer, Initial Purchaser, underwriter, officer, employee or controlling
person in connection with, or relating in any manner to, the Notes or the
transactions contemplated hereby, and which is included as part of or referred
to in any loss, claim, damage, liability or action arising out of or based upon
matters covered by clause (A) or (B) above (provided that the Company shall not
be liable under this clause (C) to the extent that it is determined in a final
judgment by a court of competent jurisdiction that such loss, claim, damage,
liability or action resulted directly from any acts or failures to act under
taken or omitted to be taken such by such Holder, Participating Broker-Dealer,
Initial Purchaser or underwriter through its gross negligence or willful
misconduct); 

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

     

    provided, however, that this
indemnity does not apply to any loss, claim, damage, liability, expense or
action arising out of (i) an untrue statement or omission or alleged untrue
statement or omission made in reliance upon and in conformity with written
information furnished in writing to the Company by the Initial Purchasers or any
Holder, underwriter or Participating Broker-Dealer for use in a Registration
Statement (or any amendment thereto) or any Prospectus (or any amendment or
supplement thereto) or (ii) the failure of any Holder to comply with the
provisions of the last paragraph of Section 3 of this Agreement; provided, further, however,
that no indemnity by the Company to any Holder, Participating
Broker-Dealer, Initial Purchaser, underwriter, officer, employee or controlling
person shall apply in respect of any final Prospectus furnished by such person
to a person who receives the Exchange Notes or the Registrable Notes, insofar as
such indemnity relates to any untrue or misleading statement or omission made in
such final Prospectus but eliminated or remedied prior to the confirmation of
the sale of such Exchange Notes or Registrable Notes in any amendment or
supplement thereto, unless a copy of such amendment or supplement (excluding any
documents incorporated by reference in such final Prospectus) is furnished by
such person on or before the confirmation of such sale.

     

    
      (b)           Each
of the Initial Purchasers and each Holder, underwriter or Participating
Broker-Dealer agrees, severally and not jointly, to indemnify and hold harmless
the Company, its officers and employees, and each Person, if any, who controls
the Company within the meaning of Section 15 of the Securities Act or Section 20
of the Exchange Act, from and against any and all losses, claims, damages or
liabilities, joint or several, to which the Company, its officers, employees or
controlling persons may become subject, under the Securities Act or any other
statute or common law, and shall reimburse the Company and any such officer,
employee or controlling person for any legal or other expenses (including, to
the extent hereinafter provided, reasonable counsel fees) incurred by them in
connection with investigating any such losses, claims, damages, liabilities or
in connection with defending any action insofar as such losses, claims, damages,
liabilities, expenses or actions arise out of, or are based upon, (A) any untrue
statement or alleged untrue statement of a material fact contained in any
Registration Statement (or any amendment thereto) or Prospectus (or any
amendment or supplement thereto), covering Registrable Notes or Exchange Notes,
as applicable, or (B) the omission or alleged omission to state in any
Registration Statement (or any amendment thereto) or Prospectus (or any
amendment or supplement thereto) any material fact required to be stated therein
or necessary to make the statements therein not misleading, but in each case
only to the extent that the untrue statement or alleged untrue statement or
omission or alleged omission was made in reliance upon and in conformity with
written information concerning such Initial Purchaser, Holder, underwriter or
Participating Broker-Dealer specifically for inclusion therein; provided, however, that in
the case of a Shelf Registration Statement, no such Holder shall be liable for
any claims hereunder in excess of the amount of net proceeds received by such
Holder from the sale of Registrable Notes pursuant to such Shelf Registration
Statement.

       

    

    (c)           In
case any action shall be brought against any party in respect of which indemnity
may be sought pursuant to paragraph (a) or (b) of this Section 4, such party
(hereinafter called the indemnified party) shall promptly notify the party or
parties against whom indemnity shall be sought hereunder (hereinafter called the
indemnifying party) in writing, and the indemnifying party shall have the right
to participate at its own expense in the defense or, if it so elects, to assume
(in conjunction with any other indemnifying party) the defense thereof,

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

     

    including
the employment of counsel reasonably satisfactory to the indemnified party and
the payment of all fees and expenses.  If the indemnifying party shall
elect not to assume the defense of any such action, the indemnifying party shall
reimburse the indemnified party for the reasonable fees and expenses of any
counsel retained by such indemnified party.  Such indemnified party
shall have the right to employ separate counsel in any such action in which the
defense has been assumed by the indemnifying party and participate in the
defense thereof, but the fees and expenses of such counsel shall be at the
expense of such indemnified party unless (i) the employment of counsel has been
specifically authorized by the indemnifying party or (ii) the named parties to
any such action (including any impleaded parties) include each of such
indemnified party and the indemnifying party and such indemnified party shall
have been advised by such counsel that a conflict of interest between the
indemnifying party and such indemnified party may arise and for this reason it
is not desirable for the same counsel to represent both the indemnifying party
and the indemnified party (it being understood, however, that the indemnifying
party shall not, in connection with any one such action or separate but
substantially similar or related actions in the same jurisdiction arising out of
the same general allegations or circumstances, be liable for the reasonable fees
and expenses of more than one separate firm of attorneys for such indemnified
party (plus any local counsel retained by such indemnified party in its
reasonable judgment)).  The indemnified party shall be reimbursed for
all such fees and expenses as they are incurred.  The indemnifying
party shall not be liable for any settlement of any such action effected without
its consent, but if any such action is settled with the consent of the
indemnifying party or if there be a final judgment for the plaintiff in any such
action, the indemnifying party agrees to indemnify and hold harmless the
indemnified party from and against any loss or liability by reason of such
settlement or judgment.  No indemnifying party shall, without the
prior written consent of the indemnified party, effect any settlement of any
pending or threatened action, suit or proceeding in respect of which any
indemnified party is or could have been a party and indemnity has or could have
been sought hereunder by such indemnified party, unless such settlement includes
an unconditional release of such indemnified party from all liability on claims
that are the subject matter of such action, suit or proceeding.

     

    (d)           If
the indemnification provided for under this Section 4 is unavailable to an
indemnified party in respect of any losses, claims, damages or liabilities
referred to therein, then each indemnifying party, in lieu of indemnifying such
indemnified party, shall contribute to the amount paid or payable by such
indemnified party as a result of such losses, claims, damages or liabilities (i)
in such proportion as is appropriate to reflect the relative benefits received
by the Company from the initial offering and sale of the Notes, on the one hand,
and by a Holder from receiving Registrable Notes or Exchange Notes registered
under the Securities Act, on the other, or (ii) if the allocation provided by
clause (i) above is not permitted by applicable law, in such proportion as is
appropriate to reflect the relative fault of the Company on the one hand and
such Holder on the other in connection with the statements or omissions which
resulted in such losses, claims, damages or liabilities, as well as any other
relevant equitable considerations.  The relative fault of the Company
on the one hand and the Holders on the other 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 the Company or by any of the Initial
Purchasers and such parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent such statement or omission.

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

     

    The
Company and the Holders agree that it would not be just and equitable if
contribution pursuant to this Section 4 were determined by pro rata allocation
or by any other method of allocation which does not take account of the
equitable considerations referred to in the immediately preceding
paragraph.  The amount paid or payable to an indemnified party as a
result of the losses, claims, damages and liabilities referred to in the
immediately preceding paragraph shall be deemed to include, subject to the
limitations set forth above, any legal or other expenses reasonably incurred by
such indemnified party in connection with investigating or defending any such
action or claim.  Notwithstanding the provisions of this Section 4, an
indemnifying party that is a Holder of Registrable Notes or Exchange Notes shall
not be required to contribute any amount in excess of the amount by which the
total price at which the Registrable Notes or the Exchange Notes sold by such
indemnifying party to any purchaser exceeds the amount of any damages which such
indemnifying party has otherwise paid or become liable to pay by reason of any
untrue or alleged untrue statement or omission or alleged
omission.  The Holders’ obligations in this Section 4 to contribute
shall be several in proportion to the principal amount of Registrable Notes and
Exchange Notes registered for them and not joint.  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 Section 4, each Affiliate of a Holder, and each director, officer and
employee and Person, if any, who controls a Holder or such Affiliate within the
meaning of Section 15 of the Securities Act or Section 20 of the Exchange
Act shall have the same rights to contribution as such Holder and each Person,
if any, who controls the Company within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act shall have the same rights to
contribution as the Company.

     

    5.           Participation in an Underwritten
Registration.  No Holder
may participate in an underwritten registration hereunder unless such Holder
(a) agrees to sell such Holder’s Registrable Notes on the basis provided in
the underwriting arrangement approved by the Persons entitled hereunder to
approve such arrangements and (b) completes and executes all reasonable
questionnaires, powers of attorney, indemnities, underwriting agreements,
lock-up letters and other documents reasonably required under the terms of such
underwriting arrangements.

     

    6.           Selection of Underwriters. 
The
Holders of Registrable Notes covered by the Shelf Registration Statement who
desire to do so may sell the Notes covered by such Shelf Registration in an
underwritten offering, subject to the provisions of Section 3(n) hereof. In any
such underwritten offering, the underwriter or underwriters and manager or
managers that will administer the offering will be selected by the Holders of a
majority in
aggregate principal amount of the Registrable Notes included in such offering;
provided, however, that
such underwriters and managers must be reasonably satisfactory to the
Company.

     

    7.           Miscellaneous.

     

    (a)           Rule 144 and Rule 144A. 
For so
long as the Company is subject to the reporting requirements of Section 13 or 15
of the Exchange Act and any Registrable Notes remain outstanding, the Company
will file the reports required to be filed by it under the Securities Act and
Section 13(a) or 15(d) of the Exchange Act and the rules and regulations adopted
by the SEC thereunder; provided, however, that if
the Company ceases to be so required to file such reports, 

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

     

    it will,
upon the request of any Holder of Registrable Notes, (a) make publicly available
such information as is necessary to permit sales of its securities pursuant to
Rule 144 under the Securities Act, (b) deliver such information to a prospective
purchaser as is necessary to permit sales of its securities pursuant to Rule
144A under the Securities Act, and (c) take such further action that is
reasonable in the circumstances, in each case, to the extent required from time
to time to enable such Holder to sell its Registrable Notes without registration
under the Securities Act within the limitation of the exemptions provided by (i)
Rule 144 under the Securities Act, as such rule may be amended from time to
time, (ii) Rule 144A under the Securities Act, as such rule may be amended from
time to time, or (iii) any similar rules or regulations hereafter adopted by the
SEC.  Upon the request of any Holder of Registrable Notes, the Company
will deliver to such Holder a written statement as to whether it has complied
with such requirements.

     

    (b)           No Inconsistent Agreements. 
The
Company has not entered into, nor will the Company on or after the date of this
Agreement enter into, any agreement which is inconsistent with the rights
granted to the Holders of Registrable Notes in this Agreement or otherwise
conflicts with the provisions hereof without the written consent of Holders of a
majority in aggregate principal amount of the outstanding Registrable
Notes.  The rights granted to the Holders hereunder do not in any way
conflict with and are not inconsistent with the rights granted to the holders of
the Company’s other issued and outstanding securities under any such
agreements.

     

    (c)           Amendments and Waivers. 
The
provisions of this Agreement, including the provisions of this sentence, may not
be amended, modified or supplemented, and waivers or consents to departures from
the provisions hereof may not be given, unless the Company has obtained the
written consent of Holders of a majority in aggregate principal amount of the
outstanding Registrable Notes affected by such amendment, modification,
supplement, waiver or departure; provided that no amendment,
modification or supplement or waiver or consent to the departure with respect to
the provisions of Section 4 hereof shall be effective as against any Holder
of Registrable Notes unless consented to in writing by such Holder of
Registrable Notes.  Notwithstanding the foregoing sentence, (i) this
Agreement may be amended, without the consent of any Holder of Registrable
Notes, by written agreement signed by the Company and the Initial Purchasers, to
cure any ambiguity, correct or supplement any provision of this Agreement that
may be inconsistent with any other provision of this Agreement or to make any
other provisions with respect to matters or questions arising under this
Agreement which shall not be inconsistent with other provisions of this
Agreement, (ii) this Agreement may be amended, modified or supplemented, and
waivers and consents to departures from the provisions hereof may be given, by
written agreement signed by the Company and the Initial Purchasers to the extent
that any such amendment, modification, supplement, waiver or consent is, in
their reasonable judgment, necessary or appropriate to comply with applicable
law and regulation (including any interpretation of the staff of the SEC) or any
change therein and (iii) to the extent any provision of this Agreement relates
to an Initial Purchaser, such provision may be amended, modified or
supplemented, and waivers or consents to departures from such provisions may be
given, by written agreement signed by such Initial Purchaser and the
Company.

     

    (d)           Notices.  All
notices and other communications provided for or permitted hereunder shall be
made in writing by hand-delivery, registered first-class mail, telex,
telecopier, or any courier guaranteeing overnight delivery (i) if to a
Holder, at the most current address 

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

     

    given by
such Holder to the Company by means of a notice given in accordance with the
provisions of this Section 7(d), which address initially is, with respect
to the Initial Purchasers:

     

    
      
        	 
      	
                c/o

              	
                Barclays
      Capital Inc.

                200
      Park Avenue

                New
      York, New York 10166

                Attention:
      Fixed Income Syndicate Desk

                 

                BNP
      Paribas Securities Corp.

                787
      Seventh Avenue

                New
      York, New York 10019

                Attention:
      Syndicate Desk

                 

                Lehman
      Brothers Inc.

                745
      Seventh Avenue

                New
      York, New York 10019

              

      

    

     

     

     and
(ii) if to the Company, initially at the Company c/o Ameren
Corporation:

     

    P.O. Box 66149

    St. Louis, Missouri
63166-6149

    Attention: Treasurer

    

    and
thereafter at such other address, notice of which is given in accordance with
the provisions of this Section 7(d).

     

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

     

    Copies of
all such notices, demands, or other communications shall be concurrently
delivered by the Person giving the same to the Trustee, at the address specified
in the Indenture.

     

    (e)           Successors and Assigns. 
This
Agreement shall inure to the benefit of and be binding upon the successors,
assigns and transferees of the Initial Purchasers, including, without limitation
and without the need for an express assignment, subsequent Holders; provided, however, that
nothing herein shall be deemed to permit any assignment, transfer or other
disposition of Registrable Notes in violation of the terms of the Purchase
Agreement or the Indenture.  If any transferee of any Holder shall
acquire Registrable Notes in any manner, whether by operation of law or
otherwise, such Registrable Notes shall be held subject to all of the terms of
this Agreement, and by taking and holding such Registrable Notes, such Person
shall be conclusively deemed to have agreed to be bound by and to perform all of
the terms and provisions of this Agreement and such Person shall be entitled to
receive the benefits hereof.

     

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

     

    (f)           Third Party Beneficiaries. 
Each
Holder and any Participating Broker-Dealer shall be third party beneficiaries of
the agreements made hereunder among the Initial Purchasers and the Company, and
the Initial Purchasers shall have the right to enforce such agreements directly
to the extent it deems such enforcement necessary or advisable to protect its
rights or the rights of Holders hereunder.

     

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

     

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

     

    (i)           GOVERNING LAW. 
THIS
AGREEMENT SHALL BE DEEMED TO HAVE BEEN MADE IN THE STATE OF NEW
YORK.  THE VALIDITY AND INTERPRETATION OF THIS AGREEMENT, AND THE
TERMS AND CONDITIONS SET FORTH HEREIN, SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

     

    (j)           Severability. 
In the
event that 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.

     

    (k)           Notes Held by the Company or its
Affiliates.  Whenever
the consent or approval of Holders of a specified percentage of Registrable
Notes is required hereunder, Registrable Notes held by the Company or its
Affiliates shall not be counted in determining whether such consent or approval
was given by the Holders of such required percentage.

     

    (l)           Entire Agreement. 
This
Agreement embodies the entire agreement and understanding between the Company
and each of the Initial Purchaser relating to the subject matter hereof and
supersedes all prior agreements and understandings, both written and oral, among
the parties hereto with respect to this subject matter.

     

    [continued
on next page]

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

     

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

     

    
      
        	 
      	
                Illinois
      Power Company

                d/b/a
      AmerenIP

                 

                 

              
	 
      	
                By:

              	
                
                  /s/
      Jerre E. Birdsong

                

              
	 
      	 
      	
                Name:  Jerre
      E. Birdsong

                Title:
      Vice President and Treasurer

              

      

    

     

     

    Confirmed
and accepted as of

    the date
first above written:

     

     

    
      
        Barclays
Capital Inc.

        BNP
Paribas Securities Corp.

        Lehman
Brothers Inc.

        

        
          	
                  By:

                	
                  Barclays
      Capital Inc.

                  For
      itself and as representative of the

                  several
      Initial Purchasers

                   

                   

                	 
      
	 
      	
                  
                    /s/
      Pamela Kendall

                  

                	 
      
	 
      	
                  Name:
      Pamela Kendall

                  Title:
      Director

                	 
      
	 
      	 
      	 
      
	
                  By:

                	
                  BNP
      Paribas Securities Corp.

                  For
      itself and as representative of the

                  several
      Initial Purchasers

                   

                   

                	 
      
	
                  By:

                	
                  
                    /s/
      Paul D. Lange

                  

                	 
      
	 
      	
                  Name:
      Paul D. Lange

                  Title:  Managing
      Director

                	 
      
	 
      	 
      	 
      
	
                  By:

                	
                  Lehman
      Brothers Inc.

                  For
      itself and as representative of the

                  several
      Initial Purchasers

                   

                   

                	 
      
	
                  By:

                	
                  
                    /s/
      Martin Goldberg

                  

                	 
      
	 
      	
                  Name:
      Martin Goldberg

                  Title:
      Senior Vice President

                	 
      

        

      

    

     

     

     

    
      Signature
Page to IP RRAEX-4.2

Exhibit 4.2

 

AMERICAN INTERNATIONAL GROUP, INC.

 

Sixth Supplemental Indenture

Dated as of May 16, 2008

 

(Supplemental to the Junior Subordinated Debt Indenture Dated as of March 13, 2007)

 

THE BANK OF NEW YORK,

as Trustee

 

 

 

     SIXTH SUPPLEMENTAL INDENTURE, dated as of May 16, 2008, between American International Group,
Inc., a corporation duly organized and existing under the laws of the State of Delaware (herein
called the “Company”), and The Bank of New York, a New York banking corporation, as Trustee
(herein called “Trustee”);

RECITALS:

     WHEREAS, the Company has heretofore executed and delivered to the Trustee a Junior
Subordinated Debt Indenture, dated as of March 13, 2007 (the “Indenture”), providing for
the issuance from time to time of the Company’s unsecured debentures, notes or other evidences of
indebtedness (herein and therein called the “Securities”), to be issued in one or more
series as provided in the Indenture;

     WHEREAS, Section 901 of the Indenture permits the Company and the Trustee to enter into an
indenture supplemental to the Indenture to establish the form and terms of a series of Securities;

     WHEREAS, Section 201 of the Indenture permits the form of Securities of a series to be
established in an indenture supplemental to the Indenture;

     WHEREAS, Section 301 of the Indenture permits certain terms of a series of Securities to be
established pursuant to an indenture supplemental to the Indenture;

     WHEREAS, pursuant to Sections 201 and 301 of the Indenture, the Company desires to provide for
the establishment of a new series of Securities under the Indenture, the form and substance of such
Securities and the terms, provisions and conditions thereof to be set forth as provided in the
Indenture and this Sixth Supplemental Indenture;

     WHEREAS, all things necessary to make this Sixth Supplemental Indenture a valid agreement of
the Company, in accordance with its terms, have been done;

     WHEREAS, the Corporate Units will include as a component the Debentures (as hereinafter
defined);

     WHEREAS, the Debentures are entitled to the benefit of a Remarketing Agreement, dated as of
the date hereof, among the Company, the Purchase Contract Agent (as hereinafter defined) and
Citigroup Global Markets Inc. and J.P. Morgan Securities Inc., as Remarketing Agents;

     NOW, THEREFORE, THIS SIXTH SUPPLEMENTAL INDENTURE WITNESSETH:

     For and in consideration of the premises and the purchase of the Securities of the series
established by this Sixth Supplemental Indenture by the Holders thereof, it is mutually agreed, for
the equal and proportionate benefit of all such Holders, as follows:

Sixth Supplemental Indenture

 

 

ARTICLE ONE

DEFINITIONS AND OTHER PROVISIONS

OF GENERAL APPLICATION

Section 1.1 Relation to Indenture

     This Sixth Supplemental Indenture constitutes a part of the Indenture (the provisions of
which, as modified by this Sixth Supplemental Indenture, shall apply to the Debentures) in respect
of the Debentures but shall not modify, amend or otherwise affect the Indenture insofar as it
relates to any other series of Securities or modify, amend or otherwise affect in any manner the
terms and conditions of the Securities of any other series.

Section 1.2 Definitions

     For all purposes of this Sixth Supplemental Indenture, the capitalized terms used herein
(i) which are defined in this Section 1.2 have the respective meanings assigned hereto in this
Section 1.2 and (ii) which are defined in the Indenture (and which are not defined in this
Section 1.2) have the respective meanings assigned thereto in the Indenture. For all purposes of
this Sixth Supplemental Indenture:

     1.2.1 Unless the context otherwise requires, any reference to an Article, Section or Annex
refers to an Article or Section of, or Annex to, as the case may be, this Sixth Supplemental
Indenture;

     1.2.2 The words “herein”, “hereof” and “hereunder” and words of similar import refer to this
Sixth Supplemental Indenture as a whole and not to any particular Article, Section or other
subdivision;

     1.2.3 The following terms have the meanings given to them in the Pledge Agreement (where
applicable, with respect to the Debentures): Collateral Account; Collateral Agent; Custodial
Agent, and Proceeds;

     1.2.4 The following terms have the meanings given to them in the Purchase Contract Agreement
(where applicable, with respect to the Debentures): Contract Adjustment Payments; Corporate Units;
Equity Units; First Stock Purchase Date; Purchase Contract Agent; Remarketing Period; Remarketing
Settlement Date; Separate Debentures; Separate Debentures Purchase Price; Stock Purchase Contract;
Stock Purchase Date; Treasury Portfolio Purchase Price, and Treasury Units.

Sixth Supplemental Indenture

-2-

 

     1.2.5 The terms defined in this Section 1.2.5 have the meanings assigned to them in this
Section and include the plural as well as the singular:

     “Additional Debentures” means any debt securities issued pursuant to Section 5.11(c)
of the Purchase Contract Agreement in respect of deferred Contract Adjustment Payments or pursuant
to Section 2.1(g)(ii), and shall (a) bear interest at an annual rate equal to the then market rate
of interest for similar instruments (not to exceed 10%), as determined by a nationally recognized
investment banking firm selected by the Company, (b) rank pari passu with the Debentures, (c)
provide for optional deferral on the same basis as the Debentures (d) be redeemable at the
Company’s option at any time at their principal amount, plus accrued and unpaid interest thereon
through their date of redemption and (e) be issued under the Indenture.

     “Adjusted Treasury Rate” means, with respect to any Redemption Date, the rate per
annum equal to the yield to maturity of the Comparable Treasury Issue, assuming a price for the
Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such Redemption Date.

     “Assurance Agreement” means the agreement of the Company, dated as of June 27, 2005,
in favor of eligible employees and relating to specified obligations of Starr International
Company, Inc. (as such agreement may be amended, supplemented, extended, modified or replaced from
time to time).

     “Base Rate” has the meaning set forth in Section 2.2(a)(iii).

     “Business Day” is any day, other than a Saturday, Sunday or other day on which banking
institutions in The City of New York are authorized or required by law or executive order to remain
closed.

     “Calculation Agent” means AIG Financial Products Corp., or any other Person appointed
by the Company, acting as calculation agent for the Debentures. Any successor or substitute
Calculation Agent may be an Affiliate of the Company.

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

     “Comparable Treasury Issue” means the U.S. Treasury security selected by an
independent investment bank selected by the Calculation Agent as having a maturity comparable to
the term remaining from the Redemption Date to the Final Maturity Date that would be utilized, at
the time of selection and in accordance with customary financial practice, in pricing new issues of
corporate debt securities of comparable maturity.

     “Comparable Treasury Price” means, with respect to any Redemption Date, the average of
the Reference Treasury Dealer Quotations for such Redemption Date.

Sixth Supplemental Indenture

-3-

 

     “Coupon Rate” means the interest rate payable on the Debentures as set forth herein.

     “Debentures” has the meaning set forth in Section 2.1(a).

     “Deferred Interest” has the meaning set forth in Section 2.1(g).

     “Deferral Period” means each period beginning on an Interest Payment Date with respect
to which the Company elects pursuant to Section 2.1(g) to defer all or part of any interest payment
due on such Interest Payment Date and ending on the earlier of (i) the First Stock Purchase Date
and (ii) the next Interest Payment Date on which the Company has paid all accrued and previously
unpaid interest on the Debentures.

     “Employee Benefit Plan” means any written purchase, savings, option, bonus,
appreciation, profit sharing, thrift, incentive, pension or similar plan or arrangement or any
written compensatory contract or arrangement.

     “Events of Default” has the meaning set forth in Section 2.1(h).

     “Failed Remarketing” has the meaning set forth in Section 2.1(p)(iii).

     “Final Maturity Date” means the earlier of February 15, 2041 and the maturity date
specified by the Company pursuant to Section 2.2(a)(i).

     “Indebtedness” means all indebtedness and obligations (other than the Debentures) of,
or Guaranteed or assumed by, the Company that (i) are for borrowed money or (ii) are evidenced by
bonds, debentures, notes or other similar instruments.

     “Initial Interest Rate” has the meaning set forth in Section 2.1(e).

     “Interest Payment Date” has the meaning set forth in Section 2.1(e).

     “Interest Period” means the period from and including any Interest Payment Date (or,
in the case of the first Interest Payment Date, May 16, 2008) to but excluding the next succeeding
Interest Payment Date.

     “Make-Whole Redemption Price” means the sum, as determined by the Calculation Agent,
of the present values, determined in accordance with customary financial practice, of the remaining
scheduled payments of principal discounted from the Final Maturity Date and interest thereon that
would have been payable to and including the Final Maturity Date (not including any portion of such
payments of interest accrued to the Redemption Date) discounted from the relevant Interest Payment
Date to the Redemption Date on a quarterly basis (assuming a 360-day year consisting of twelve
30-day months) at the Adjusted Treasury Rate plus 0.25%.

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     “Other Debentures” means each of the series of Securities issued under the Seventh
Supplemental Indenture to the Indenture and the Eighth Supplemental Indenture to the Indenture,
each dated as of the date hereof, and each between the Company and the Trustee.

     “pari passu”, as applied to the ranking of any obligation of a Person in relation to
any other obligation of such Person, means in any bankruptcy, insolvency or receivership proceeding
that each such obligation either (i) is not subordinated or junior in right of payment to any other
obligation or (ii) is subordinate or junior in right of payment to the same obligations as is the
other, and is so subordinate or junior to the same extent, and is not subordinate or junior in
right of payment to each other or to any obligation as to which the other is not so subordinate or
junior.

     “Pledge Agreement” means the Pledge Agreement, dated as of May 16, 2008, among the
Company, Wilmington Trust Company, as Collateral Agent, Custodial Agent and Securities
Intermediary, and The Bank of New York, as Purchase Contract Agent, as it may be amended from time
to time.

     “Purchase Contract Agreement” means the Purchase Contract Agreement, dated as of
May 16, 2008, between the Company and The Bank of New York, as Purchase Contract Agent, as it may
be amended from time to time.

     “Put Notice” has the meaning set forth in Section 2.1(n).

     “Put Right” has the meaning set forth in Section 2.1(n).

     “Reference Treasury Dealer” means each of Citigroup Global Markets Inc. and J.P.
Morgan Securities Inc., or their respective successors; provided, however, that if any of the
foregoing shall cease to be a primary U.S. government securities dealer in the United States (a
“Primary Treasury Dealer”), the Company shall substitute therefor another Primary Treasury
Dealer; and any other Primary Treasury Dealer selected by the Calculation Agent after consultation
with the Company.

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any Redemption Date, the average, as determined by the Calculation Agent, of the bid and
ask prices for the Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) quoted in writing to the Calculation Agent by that Reference Treasury Dealer at
5:00 p.m. on the third Business Day preceding such Redemption Date.

     “Regular Record Date” for the payment of any current interest payable on any Interest
Payment Date, the date specified in Section 2.1(f) and for the payment of Deferred Interest, the
date specified in Section 2.1(g)(ii).

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     “Remarketing” means a remarketing of Debentures pursuant to Section 2.1(p) and the
Remarketing Agreement.

     “Remarketing Agents” means the Remarketing Agents and any successor or replacement
remarketing agents appointed by the Company pursuant to Section 2.1(p).

     “Remarketing Agents’ Fee” means 0.25% of the sum of the Treasury Portfolio Purchase
Price and the Separate Debentures Purchase Price.

     “Remarketing Agreement” means the remarketing agreement entered into among the
Company, the Purchase Contract Agent and the Remarketing Agents pursuant to Section 2.1(p).

     “Remarketing Date” means any day during a Remarketing Period on which the Remarketing
Agent finds buyers for all of the Debentures offered in the Remarketing by 4:00 p.m., New York City
time.

     “Remarketing Period Start Date” means the first day of the Remarketing Period.

     “Reset Rate” has the meaning set forth in Section 2.1(p).

     “Reset Spread” has the meaning set forth in Section 2.1(p).

     “Successful” means, as to a Remarketing, that the Remarketing is conducted in
accordance with Section 2.1(p) and the Remarketing Agent finds buyers for all of the Debentures
offered in the Remarketing no later than 4:00 p.m., New York City time, on the last day of the
Remarketing Period.

ARTICLE TWO

GENERAL TERMS AND CONDITIONS OF THE DEBENTURES

Section 2.1 Terms of Debentures

     Pursuant to Sections 201 and 301 of the Indenture, there is hereby established a series of
Securities, the terms of which shall be as follows:

     (a) Designation. The Securities of this series shall be known and designated
as the “5.67% Series B-1 Junior Subordinated Debentures” of the Company
(the “Debentures”). The CUSIP number of the Debentures is 026874 BN6.

     (b) Aggregate Principal Amount. The maximum aggregate principal amount of the
Debentures that may be authenticated and delivered under the Indenture and this Sixth
Supplemental Indenture is $1,960,000,000 (except for

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Debentures authenticated and delivered upon registration of transfer of, or exchange
for, or in lieu of, other Debentures pursuant to Section 304, 305, 306, 906 or 1107 of the
Indenture or 2.1(n) or 2.1(p) of this Sixth Supplemental Indenture).

     (c) Form and Denominations. (i) The Debentures will initially be issued in
the form of one or more Securities substantially in the form of Annex A, with such
modifications thereto as may be approved by the officer executing the same. The Debentures
will be denominated in U.S. dollars and payments of principal and interest will be made in
U.S. dollars. Except as provided for in Section 2.1(c)(ii), the Debentures will be issued
only in fully registered certificated form without coupons, and the authorized
denominations of the Debentures shall be $1,000 and integral multiples of $1,000 in excess
thereof. Debentures that are components of Corporate Units shall be registered in the name
of The Bank of New York, as Purchase Contract Agent. Principal and interest on the
Debentures will be payable, the transfer of such Debentures will be registrable, and such
Debentures will be exchangeable for Debentures of a like aggregate principal amount bearing
identical terms and provisions, at the office or agency of the Company maintained for such
purpose in the Borough of Manhattan, New York City, which shall initially be the Corporate
Trust Office of the Trustee, provided, however, that payment of interest may be made, at
the option of the Company, by check mailed to the Holder at such address as shall appear in
the Security Register or by wire transfer to an account appropriately designated by the
Holder entitled to payment. No service charge shall be made for any registration of
transfer or exchange of any Debentures, but the Company may require payment from the Holder
of a sum sufficient to cover any tax or other governmental charge that may be imposed in
connection therewith.

     (i) If any Debenture is no longer a component of the Corporate Unit and released from
the Collateral Account, the Company, at its election, may issue one or more certificates,
in form of a Global Security to represent such Debenture and any other Debentures that
cease to be a component of Corporate Units and are released from the Collateral Account.
If issued as one or more Global Securities, the Depositary shall be The Depository Trust
Company or such other depositary as any officer of the Company may from time to time
designate. Upon the creation of Treasury Units or the recreation of Corporate Units, an
appropriate annotation shall be made on the Schedule of Increases and Decreases on the
Global Securities held by the Depositary and on the Schedule of Increases and Decreases on
the Debenture held by the Collateral Agent. The Global Securities will be subject to the
provisions of Section 305 of the Indenture and bear the legend in Section 204 of the
Indenture; provided, however, that notwithstanding clause (2) of Section 305 of the
Indenture, the Global Securities may be exchanged in whole or in part for Debentures
registered in the name of the Purchase Contract Agent upon the recreation of Corporate
Units in accordance

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with the Purchase Contract Agreement and Pledge Agreement. Payments with respect to
Global Securities will be made by wire transfer to the Depositary.

     (d) Maturity. The principal amount of, and all accrued and unpaid interest
on, the outstanding Debentures shall be payable in full on the Final Maturity Date.

     (e) Rate of Interest. The Debentures shall bear interest (i) from and
including May 16, 2008 to but excluding the earlier of their maturity date and the
Remarketing Settlement Date at the rate of 5.67% per annum (the “Initial Interest
Rate”), and (ii) from and including the Remarketing Settlement Date, at the Reset Rate.
Interest on the Debentures shall be payable (i) quarterly in arrears on February 1, May 1,
August 1 and November 1 of each year, beginning on August 1, 2008, (ii) if there is a
Failed Remarketing, on February 15, 2011 for the period from and including February 1, 2011
to but excluding February 15, 2011 and (iii) after a Successful Remarketing, semi-annually
in arrears on February 1 and August 1 at the Reset Rate, accruing from the Remarketing
Settlement Date, unless the Company elects a Reset Rate that is a floating rate pursuant to
Section 2.2(a)(iii) (each such date on which interest is to be paid, an “Interest
Payment Date”). Except as provided in Section 2.1(p), the amount of interest payable
on the Debentures for any period will be computed (i) for any full quarterly or semi-annual
period on the basis of a 360-day year of twelve 30-day months and (ii) for any period
shorter than a full quarterly or semi-annual period, on the basis of a 30-day month and,
for any period less than a month, on the basis of the actual number of days elapsed per
30-day month. Except as provided in Section 2.1(p), in the event any Interest Payment Date
falls on a day that is not a Business Day, the interest payment due on that date will be
postponed to the next day that is a Business Day with the same force and effect as if made
on such originally scheduled date and no interest shall accrue as a result of such
postponement.

     (f) To Whom Interest is Payable. Except as provided in Section 2.1(g)(ii) and
as otherwise determined by the Company from time to time, interest (other than Deferred
Interest which shall be payable to the Persons specified pursuant to Section 2.1(g)(ii))
shall be payable to the Person in whose name the Debentures are registered at the close of
business on the 15th day of the month prior to the month in which the Interest
Payment Date falls, whether or not a Business Day, or on February 1, 2011 in the case of
the Interest Payment Date, if any, that falls on February 15, 2011.

     (g) Option to Defer Interest Payments. (i) The Company shall have the right,
at any time and from time to time prior to the First Stock Purchase Date, to defer the
payment of interest on the Debentures for one or more consecutive Interest Periods;
provided that no Deferral Period shall extend beyond the First Stock Purchase Date (such
interest referred to as “Deferred Interest”). Deferred Interest will, subject to
applicable law, accrue interest at the Initial Interest Rate

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compounded on each Interest Payment Date. The Company agrees that (A) until the First
Stock Purchase Date, (x) if an Event of Default has occurred and is continuing, (y) the
Company has given notice of its election to defer interest payments but the Deferral Period
has not yet commenced or (z) a Deferral Period is continuing, (B) the Company has given
notice of its election to defer Contract Adjustment Payments but the related deferral
period has not yet commenced or a deferral period is continuing with respect to such
Contract Adjustment Payments, or (C) Additional Debentures are outstanding, the Company
shall not, and shall not permit any Subsidiary, subject to the exceptions specified in
clause (v) of this Section 2.1(g), to: (a) declare or pay any dividends or distributions
on, or redeem, purchase, acquire or make a liquidation payment with respect to, any Capital
Stock of the Company, (b) make any payment of principal of, or interest or premium, if any,
on, or repay, purchase or redeem any debt securities of the Company that rank pari passu
with, or junior to, the Debentures (including the Other Debentures) or (c) make any
payments with respect to any Guarantee by the Company of securities of any Subsidiary if
such Guarantee ranks pari passu with, or junior to, the Debentures.

     (ii) The Company may pay Deferred Interest pursuant to this Section 2.1(g) to the
Holder at any time either in the form of cash or in the form of an Additional Debentures
having a principal amount equal to the aggregate amount of accrued but unpaid Deferred
Interest on the date of issuance and maturing on the later of August 1, 2014 and the date
five years after the date of commencement of the Deferral Period; provided, however, that
the Company must pay any accrued but unpaid Deferred Interest to the Holder either in the
form of cash or in the form of Additional Debentures on the First Stock Purchase Date,
whether or not such Holder participates in the Remarketing. Deferred Interest paid on any
Interest Payment Date shall be payable to the Person in whose name the Debentures are
registered at the close of business on the Record Date next preceding such Interest Payment
Date, provided that the Company shall establish a Special Record Date for any Deferred
Interest to be paid on a date other than an Interest Payment Date and Holders on that
Special Record Date shall be entitled to payment of the Deferred Interest.

     (iii) Upon termination of any Deferral Period and upon the payment of all Deferred
Interest (together with any compounded interest thereon, if any, to the extent permitted by
applicable law), the Company may elect to begin a new Deferral Period pursuant to clause
(i) of this Section 2.1(g).

     (iv) The Company shall give written notice to the Trustee and the Holders of the
Debentures of its election to begin any Deferral Period on any Interest Payment Date at
least one Business Day prior to the Regular Record Date for that Interest Payment Date.
Notwithstanding the previous sentence, the Company’s failure to pay any interest due within
five Business Days after any Interest Payment Date occurring prior to the First Stock
Purchase Date shall

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automatically and without any further action by any Person be deemed to commence a
Deferral Period.

     (v) The restrictions in clause (i) of this Section 2.1(g) do not apply to (a)
purchases, redemptions or other acquisitions of shares of the Company’s Capital Stock in
connection with (1) any Employee Benefit Plan or the Assurance Agreement or (2) a dividend
reinvestment, stock purchase plan or other similar plan, (b) any exchange or conversion of
any class or series of the Company’s Capital Stock (or the Capital Stock of any Subsidiary)
for any class or series of the Company’s Capital Stock or of any class or series of
Indebtedness of the Company for any class or series of the Company’s Capital Stock, (c) the
purchase of fractional interests in shares of the Capital Stock of the Company in
accordance with the conversion or exchange provisions of the Company’s Capital Stock or the
security or instrument being converted or exchanged, (d) any declaration of a dividend in
connection with any stockholders’ rights plan, or the issuance of rights, equity securities
or other property under any stockholders’ rights plan, or the redemption or repurchase of
rights in accordance with any stockholders’ rights plan, (e) any dividend in the form of
equity securities, warrants, options or other rights where the dividend stock or the stock
issuable upon exercise of the warrants, options or other rights is the same stock as that
on which the dividend is being paid or ranks pari passu with or junior to such equity
securities, (f) any payment during a Deferral Period of current or deferred interest in
respect of any debt securities of the Company that rank pari passu with the Debentures that
is made pro rata to the amounts due on pari passu securities and the Debentures, (g) any
payments of deferred interest or principal on such pari passu securities that, if not made,
would cause the Company to breach the terms of the instrument governing such pari passu
securities, (h) the repurchase of any debt securities of the Company that rank pari passu
with the Debentures in exchange for Capital Stock in connection with a failed remarketing
or similar event, any payment of deferred interest on any such debt securities in the form
of additional debentures that will rank pari passu with the Debentures and the repayment of
any such additional debentures at maturity or (i) any repayment or redemption of a security
necessary to avoid a breach of the instrument governing that security.

     (h) Events of Default. After the First Stock Purchase Date, the Debentures
shall be entitled to the benefits of the Events of Default set forth in Section 501 of the
Indenture. Until the First Stock Purchase Date, the following events shall be Events of
Default with respect to the Debentures (whatever the reason for such Event of Default and
whether it shall be occasioned by the provisions of Article Fourteen of the Indenture or be
voluntary or involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any administrative or
governmental body):

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     (1) default in the payment of interest, including compounded interest, in full
in cash or Additional Debentures on any Debenture for a period of 30 days after the
First Stock Purchase Date;

     (2) default in the payment of the principal of any Debenture at the final
stated maturity or upon a call for redemption pursuant to Section 2.1(i); or

     (3) the events set forth in Section 501(5) and (6) of the Indenture.

     (i) Redemption. The Debentures shall be redeemable in accordance with
Article Eleven of the Indenture. Subject to Section 2.2(a)(ii), at any time on or after
February 15, 2013, the Company may redeem, at its option, the Debentures, in whole or in
part, at a price equal to the greater of their principal amount and the Make-Whole
Redemption Price, plus, in either case, accrued and unpaid interest, if any, to the
Redemption Date.

     (j) Sinking Fund. Article Twelve shall not apply to the Debentures.

     (k) Subordination. The Debentures shall at all times prior to the Remarketing
Settlement Date, if any, be subject to Article Fourteen of the Indenture, subject to the
following modifications:

     (i) For purposes of the Debentures, the “or” before clause (iii) of the
definition of Senior Debt in the Indenture is deleted, the following clauses are
added to the definition of Senior Debt in the Indenture after the word “contracts,”
in clause (iii) for purposes of the Debentures:

“, (iv) any subordinated or junior subordinated debt that by its terms is
not expressly pari passu or subordinated to the Debentures, (v) any
Guarantee of any indebtedness, obligation or security issued by any Person
that is an Affiliate of the Company and such Person is viewed by the
Company as a vehicle to finance its operations, and (vi) Indebtedness of
the Company to its Subsidiaries”; and

     (ii) For purposes of the Debentures, the following provision is added to the
end of the definition of Senior Debt in the Indenture after the word “Securities”:
“provided that (a) trade accounts payable and accrued liabilities arising in the
ordinary course of the Company’s business, (b) the Company’s 6.25% Series A-1
Junior Subordinated Debentures, 5.75% Series A-2 Junior Subordinated Debentures,
4.875% Series A-3 Junior Subordinated Debentures, 6.45% Series A-4 Junior
Subordinated Debentures, 7.70% Series A-5 Junior Subordinated Debentures and the

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Other Debentures and (c) any other indebtedness, Guarantee or other obligation
that is specifically designated as being subordinate, or not superior, in right of
payment to the Debentures, shall not be considered Senior Debt”.

     (iii) For purposes of the Debentures, the provisions of Section 1404 of the
Indenture shall only apply in the case where (A) there has been an event of default
with respect to Senior Debt within the meaning of clause (i) of the definition of
Senior Debt, (B) the principal amount of such Senior Debt has been accelerated, (C)
the outstanding principal amount of Senior Debt at the time of acceleration is at
least $100,000,000 and (D) the event of default or acceleration has not been cured,
waived, or otherwise ceased to exist. In no other case and to no other Senior Debt
shall Section 1404 apply.

     (iv) The Debentures shall rank pari passu with the Company’s 6.25% Series A-1
Junior Subordinated Debentures, 5.75% Series A-2 Junior Subordinated Debentures,
4.875% Series A-3 Junior Subordinated Debentures, 6.45% Series A-4 Junior
Subordinated Debentures, 7.70% Series A-5 Junior Subordinated Debentures and the
Other Debentures.

     (l) Registrar, Paying Agent, Authenticating Agent and Place of Payment. The
Company hereby appoints The Bank of New York as Security Registrar, Authenticating Agent
and Paying Agent with respect to the Debentures. The Debentures may be surrendered for
registration of transfer and for exchange without service charge, but upon payment of any
taxes on other governmental charges payable in connection with such registration of
transfer or exchange, at the office or agency of the Company maintained for such purpose in
The City of New York, New York and at any other office or agency maintained by the Company
for such purpose. The Place of Payment for the Debentures shall be the Paying Agent’s
office in New York, New York. Principal and interest with respect to the Debentures will
be payable, the transfer of the Debentures will be registrable and Debentures will be
exchangeable for debentures of a like aggregate principal amount in denominations of $1,000
and integral multiples of $1,000, at the office of the Paying Agent.

     (m) Defeasance. After the First Stock Purchase Date, the Debentures will be
subject to Sections 1302 and 1303 of the Indenture unless the Company makes the election
set forth in Section 2.2(a)(iii).

     (n) Redemption at Holders’ Option. If there is a Failed Remarketing, each
Holder of Debentures that are Separate Debentures will have the right to require the
Company to redeem all or a portion of its Separate Debentures, but excluding any Additional
Debentures, on the First Stock Purchase Date (the “Put Right”). Such right will be
exercisable only upon delivery of notice to the Trustee

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on or prior to 11:00 a.m., New York City time, on the second Business Day prior to the
First Stock Purchase Date (a “Put Notice”). A Put Notice shall be irrevocable. If
a Put Notice shall have been duly given, the Separate Debentures to which the Put Notice
relates shall become due and payable on the First Stock Purchase Date, and the Company
shall redeem, such Debentures for a Redemption Price per Debenture equal to 100% of their
principal amount. Accrued and unpaid interest on such Debenture to such date of redemption
shall be paid to the Holders of such Debentures on the Record Date therefor. Section 1105
of the Indenture shall apply to any redemption pursuant to this Section 2.1(n), and Section
1107 of the Indenture shall apply to any Separate Debenture redeemed in part.

     (o) Modification. No supplemental indenture shall, without the consent of the
Holder of each Outstanding Debenture, modify or amend Section 2.1(n) or Section 2.1(p) in
any respect materially adverse to the Holder.

     (p) Remarketing and Reset Rate Mechanics.

     (i) Obligation to Conduct Remarketing and Related Requirements.

     (i) The Company and the Purchase Contract Agent shall appoint a nationally
recognized investment banking firm as Remarketing Agent and enter into a
Remarketing Agreement at least 30 days prior to the Remarketing Period Start Date.
The Remarketing Agreement shall include such terms, conditions and other provisions
as the Company, the Purchase Contract Agents and the Remarketing Agent may agree
among themselves but shall in any event include provisions to substantially the
following effect:

     (1) The Remarketing Agents will use their commercially reasonable efforts to
obtain a price for the Debentures to be remarketed in the Remarketing which results
in proceeds, net of the Remarketing Agents’ Fee, equal to at least 100% of the sum
of the Treasury Portfolio Purchase Price and the Separate Debentures Purchase
Price;

     (2) The Remarketing Agent will in consultation with the Company reset the
Coupon Rate on the Debentures (as a rate per annum for payment of interest on each
applicable Interest Payment Date) or establish the Reset Spread in order to give
effect to clause (1) above for Interest Periods or portions thereof commencing on
or after the Remarketing Settlement Date;

     (3) The Remarketing Agents will deduct the Remarketing Agents’ Fee from the
proceeds of the Remarketing and remit any Proceeds remaining after such deduction
to or at the direction of the Collateral

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Agent and the Custodial Agent in accordance with the Pledge Agreement; and

     (4) On any day in a Remarketing Period other than the last five Business Days
of such Remarketing Period, the Company may, in its absolute discretion (and
without prior notice being given to Holders of Debentures or of the Equity Units),
postpone the Remarketing until the following Business Day by giving notice of such
postponement to the Remarketing Agents in accordance with the Remarketing
Agreement.

     (ii) The Company and the Purchase Contract Agent shall use their commercially
reasonable efforts to effect Remarketing of the Debentures as described in this
Section 2.1(p). If in the judgment of counsel to the Company or to the Remarketing
Agents it is necessary for a Registration Statement covering the Debentures to have
been filed and have become effective under the Securities Act in order to effect
the Remarketing, then the Company and the Purchase Contract Agent shall use their
commercially reasonable efforts (i) to ensure that a Registration Statement
covering the full principal amount of Debentures to be remarketed shall have become
effective in a form that will enable the Remarketing Agents to rely on it in
connection with the Remarketing or (ii) effect such Remarketing pursuant to Rule
144A under the Securities Act or another available exemption from the registration
requirements under the Securities Act.

     (ii) Reset of Coupon Rate in Connection with Remarketing.

     (i) As part of and in connection with the Remarketing, the Remarketing Agents
shall, as contemplated by Section 2.1(p)(i)(2) and in accordance with the other
provisions of this Section 2.1(p), (A) reset the Coupon Rate to a new rate (the
“Reset Rate”), or (B) if the Company shall have made the election set forth
in Section 2.2(a)(iii), establish the reset spread (the “Reset Spread”),
rounded to the nearest one-thousandth (0.001) of one percent per annum, that will
apply to all Debentures (whether or not the Holders thereof participated in the
Remarketing) if such Remarketing is Successful for each Interest Period or portion
thereof commencing on or after the Remarketing Settlement Date.

     (ii) If the Remarketing has been determined to be Successful in accordance
with Section 2.1(p)(iii)(v), by approximately 4:30 p.m., New York City time, on any
Remarketing Date, the Remarketing Agent shall notify the Company, the Purchase
Contract Agent and the Trustee that the Remarketing was Successful and the Reset
Rate or Reset Spread, as the case may be, determined as part of such Remarketing in
accordance with this Section 2.1(p).

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     (iii) If a Remarketing is Successful, then commencing with the related
Remarketing Settlement Date, (A) the Coupon Rate shall be reset to the Reset Rate
or (B) if the Company shall have made the election set forth in Section
2.2(a)(iii), the Debentures shall bear interest at the Base Rate plus the Reset
Spread, determined in accordance with this Section 2.1(p) pursuant to such
Remarketing.

     (iv) In the event of a Failed Remarketing:

     (1) no Debentures will be sold in such Remarketing;

     (2) the Coupon Rate and the Interest Payment Dates will remain unchanged;

     (3) the Collateral Agent, for the benefit of the Company, will, at the written
instruction of the Company, deliver or dispose of the Debentures that are included
in Corporate Units in accordance with the Company’s written instructions to satisfy
in full, from any such disposition or retention, such Holders’ obligations to pay
the purchase price for the shares of Common Stock to be issued on the First Stock
Purchase Date under the Stock Purchase Contracts underlying such Corporate Units;
and

     (4) in the case of Debentures that are Separate Debentures the Holders of
which elected to participate in the Remarketing, such Debentures will be returned
to the related Holders in accordance with the Pledge Agreement and the Holders will
be entitled to exercise the Put Right.

     (iii) Remarketing Procedures.

     (i) The Company will (A) (x) give, or cause the Trustee to give on its behalf,
the Holders of the Separate Debentures and (y) cause the Purchase Contract Agent to
give the record holders of Equity Units notice of the Remarketing at least seven
Business Days prior to the Remarketing Period Start Date, and (B) request, not
later than seven nor earlier than 15 calendar days prior to the Remarketing Period
Start Date (or if clause (2) below applies, not later than 15 or earlier than 21
calendar days prior to the Remarketing Period Start Date), that the Depositary
notify its participants holding Debentures, Corporate Units or Treasury Units, of
the Remarketing. Such notices will set forth:

     (1) the Interest Payment Dates and Regular Record Dates that will apply after
the Remarketing Settlement Date;

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     (2) the modifications to the terms of the Debentures, if any, effected
pursuant to Section 2.2(a);

     (3) the procedures a beneficial owner must follow if it holds Debentures that
are Separate Debentures to elect to participate in the Remarketing; and

     (4) the procedures a beneficial owner must follow to exercise its Put Right in
the event such Remarketing is a Failed Remarketing if such beneficial owner holds
Debentures that are Separate Debentures.

     (ii) On the Remarketing Period Start Date, all outstanding Debentures included
in Corporate Units will be tendered or be deemed tendered to the Remarketing Agent
for Remarketing. Each Holder of Debentures included in Corporate Units, by
purchasing such Debentures agrees to have such Debentures remarketed on any
Remarketing Date and authorizes the Remarketing Agent to take any and all action on
its behalf necessary to effect the Remarketing.

     (iii) Each Holder of Debentures that are Separate Debentures may elect to have
such Holder’s Debentures remarketed in the Remarketing in accordance with
Section 5.02 of the Purchase Contract Agreement.

     (iv) If the Remarketing on any Remarketing Date is Successful, then on the
Remarketing Settlement Date the Collateral Agent shall deliver to the Remarketing
Agent the Debentures included in the Corporate Units and the Custodial Agent shall
deliver to the Remarketing Agent the Debentures the Holders of which have made the
election referred to in clause (iii) above, and the Remarketing Agent shall deduct
the Remarketing Agent’s Fee to which it is entitled as provided in
Section 2.1(p)(i) from the proceeds of such Remarketing and remit the remaining
proceeds in accordance with Section 2.1(p)(i)(3) for application as provided
therein.

     (v) If by 4:00 p.m., New York City time, on any Remarketing Date the
Remarketing Agent has found buyers for all of the Debentures offered in the
Remarketing in accordance with this Section 2.1(p), a Successful Remarketing shall
be deemed to have occurred.

     (vi) If, by 4:00 p.m., New York City time, on the last day of the Remarketing
Period, the Remarketing Agent is unable to find buyers for all of the Debentures
offered in the Remarketing in accordance with this Section 2.1(p), such Remarketing
shall be deemed to be a “Failed Remarketing.”

Sixth Supplemental Indenture

-16-

 

     (vii) The Company shall notify, or cause the Trustee to notify, the Holders of
the Debentures of a Successful Remarketing promptly following the Remarketing
Settlement Date, and shall cause a notice of any Failed Remarketing to be published
on the Business Day following the last day of the Remarketing Period, by
publication in a daily newspaper in the English language of general circulation in
New York City, which is expected to be The Wall Street Journal.

     (viii) The right of each Holder (whether of Separate Debentures or of
Debentures included in Corporate Units) to have its Debentures remarketed and sold
in connection with any Remarketing shall be limited to the extent that (i) the
Remarketing Agents conduct a Remarketing pursuant to the terms of the Remarketing
Agreement, (ii) the Remarketing Agents are able to find a purchaser or purchasers
for the Debentures offered in the Remarketing in accordance with this Section
2.1(p) and the Remarketing Agreement, and (iii) the purchaser or purchasers deliver
the purchase price therefor to the Remarketing Agent as and when required.

     (ix) Neither the Company nor the Remarketing Agents shall be obligated in any
case to provide funds to make payment upon tender of Debentures for Remarketing.

Section 2.2 Company’s Election to Change Certain Terms

     (a) The Company may, without the consent of any Holders of Debentures, in consultation with
the Remarketing Agents, elect at any time at least 30 days prior to the Remarketing Period Start
Date, but on one occasion only:

     (i) to change the maturity of principal of the Debentures to a date that is earlier
than February 15, 2041; provided, however, that the maturity of principal of the Debentures
may not be changed to a date earlier than February 15, 2013;

     (ii) to change the terms of the Debentures to eliminate the Company’s right to redeem
the Debentures at its option or to specify a date, which may not be earlier than February
15, 2013, on and after which the Debentures will be redeemable at the Company’s option
either in whole or in part (as elected by the Company) or to modify the definition of
“Make-Whole Redemption Price” or to provide that the Redemption Price shall be equal to the
principal amount of the Debentures to be redeemed, plus accrued and unpaid interest to the
Redemption Date; or

     (iii) to provide that the Debentures shall bear interest at a floating rate equal to
the applicable index (the “Base Rate”) plus a Reset Spread to be determined in
accordance with Section 2.1(p), in which case the Company may

Sixth Supplemental Indenture

-17-

 

also elect to modify the business day and day count conventions set forth in Section
2.1(e) to conform to market practice for floating-rate debentures bearing interest at a
rate determined by reference to such index.

     (b) The Company shall make the elections provided for in Section 2.2(a), as applicable, by
giving irrevocable written notice of such elections to the Trustee. Any election under Sections
2.2(a)(i) and 2.2(a)(ii) shall be effective when made, and any such election under Section
2.2(a)(iii) shall be effective on the Remarketing Settlement Date.

     (c) In the case of a Successful Remarketing, on or after the Remarketing Settlement Date the
Debentures will cease to be subordinated and the provisions of Section 2.1(k) shall not apply. In
the case of a Failed Remarketing, the Debentures will remain subordinated to Senior Debt and
Section 2.1(k) will continue to apply.

Section 2.3 Tax Treatment 

     (a) The Company agrees, and by acceptance of a Corporate Unit, each holder of a Corporate Unit
will be deemed to have agreed (unless the United States Internal Revenue Service requires a
different treatment from such holder) (1) for United States federal, state and local income and
franchise tax purposes to treat the acquisition of a Corporate Unit as the acquisition of the
applicable ownership interest in the Debenture and the Other Debentures and the Stock Purchase
Contract constituting the Corporate Unit, (2) to treat the Debenture as indebtedness for United
States federal, state and local income and franchise tax purposes, (3) if such holder purchased
the Corporate Unit in the initial offering for $75, to allocate $25 to the undivided beneficial
ownership interests in the Debenture and each Other Debenture and $0 to the Stock Purchase Contract
included in a Corporate Unit, and (4) to treat the Debenture as a “variable rate debt instrument”
for U.S. federal income tax purposes.

     (b) Any payment (including cash or property) and original issue discount under the terms of
this Sixth Supplemental Indenture shall be subject to withholding and backup withholding of tax as
required by law. Any such withholding and backup withholding shall be treated as if made to the
intended recipient in full compliance with the terms hereof.

ARTICLE THREE

MISCELLANEOUS

Section 3.1 Relationship to Existing Indenture

     The Sixth Supplemental Indenture is a supplemental indenture within the meaning of the
Indenture. The Indenture, as supplemented and amended by this Sixth

Sixth Supplemental Indenture

-18-

 

Supplemental Indenture, is in all respects ratified, confirmed and approved and, with respect
to the Debentures, the Indenture, as supplemented and amended by this Sixth Supplemental Indenture,
shall be read, taken and construed as one and the same instrument.

Section 3.2 Modification of the Existing Indenture

     Except as expressly modified by this Sixth Supplemental Indenture, the provisions of the
Indenture shall govern the terms and conditions of the Debentures.

Section 3.3 Governing Law

     This instrument shall be governed by and construed in accordance with the laws of the State of
New York.

Section 3.4 Counterparts

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

Section 3.5 Trustee Makes No Representation

     The recitals contained herein are made by the Company and not by the Trustee, and the Trustee
assumes no responsibility for the correctness thereof. The Trustee makes no representation as to
the validity or sufficiency of this Sixth Supplemental Indenture (except for its execution thereof
and its certificates of authentication of the Debentures).

Sixth Supplemental Indenture

-19-

 

     In Witness Whereof, the parties hereto have caused this Sixth Supplemental Indenture
to be duly executed all as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	AMERICAN INTERNATIONAL GROUP, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	 

Name: Robert A. Gender
	 	 
	 

	 	 	 	Title: Vice President and Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK,	 	 
	 	 	as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

Sixth Supplemental Indenture

 

ANNEX A

     [Include if this Security is a Global Security — THIS SECURITY IS A GLOBAL SECURITY WITHIN THE
MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED,
AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON
OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN
THE INDENTURE.

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

AMERICAN INTERNATIONAL GROUP, INC.

5.67% SERIES B-1 JUNIOR SUBORDINATED DEBENTURES

			
	 	 	 
	No.
	 	CUSIP No.: 026874 BN6
	$
	 	ISIN: US026874BN67

     American International Group, Inc., a corporation duly organized and existing under the laws
of Delaware (herein called the “Company”, which term includes any successor Person under
the Indenture hereinafter referred to), for value received, hereby promises to pay to
        , or registered assigns, the principal sum of            Dollars ($
)][Include in Global Security and in Pledged Debenture — the principal sum as set forth on the
Schedule of Increases or Decreases in Security attached hereto, which shall not exceed [ ]] on
February 15, 2041, and to pay interest on said principal sum from May 16, 2008 or from the most
recent Interest Payment Date to which interest has been paid or duly provided for, subject to
deferral as set forth herein, in arrears at a rate (i) of 5.67% per annum on February 1, May 1,
August 1 and November 1 (each such date, an “Interest Payment Date”), commencing August 1,
2008, to but not including the earlier of the repayment of the outstanding principal amount of this
Security and the Remarketing Settlement Date, (ii) if there is a Failed Remarketing, on February
15, 2011 for the period from and including February 1, 2011 to but excluding February 15, 2011 and
(iii) if the Remarketing Settlement Date occurs, equal to the Reset Rate from and including the
Remarketing Settlement Date, on each February 1 and August 1, or if the Company has elected that
this Security will bear interest at a floating rate after the Remarketing Settlement Date, equal to
the Base Rate plus the Reset Spread, on each February 1, May 1, August 1 and November 1, subject to
adjustment as provided herein, commencing with the first such date to occur after the Remarketing
Settlement Date, until

Series B-1 Debenture

A-1

 

the principal hereof shall have become due and payable, and on any overdue principal and
premium, if any, and (without duplication and to the extent that payment of such interest is
enforceable under applicable law) on any overdue installment of interest at the same rate per annum
compounded on each Interest Payment Date. The amount of interest payable on any Interest Payment
Date shall, except as provided herein, be computed (i) for any full quarterly or semi-annual period
on the basis of a 360-day year comprised of twelve 30-day months, (ii) for any period shorter than
a full quarterly or semi-annual period, on the basis of a 30-day month and, for (iii) any period
less than a month, on the basis of the actual number of days elapsed per 30-day month. In the
event that any date on which interest is payable on this Security is not a Business Day, then
payment of interest payable on such date will be made on the next succeeding day that is a Business
Day (and without any interest or other payment in respect of any such delay). The interest
installment so payable, and punctually paid or duly provided for, on any Interest Payment Date
will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or
more Predecessor Securities, as defined in said Indenture) is registered at the close of business
on the Regular Record Date for such interest installment, which shall be the close of business on
the 15th day of the month prior to the month in which the Interest Payment Date falls,
or on February 1, 2011 in the case of the Interest Payment Date, if any, that falls on February 15,
2011, whether or not a Business Day or such other date as the Company may specify. Any such
interest installment not punctually paid or duly provided for (other than Deferred Interest) shall
forthwith cease to be payable to the registered Holders on such Regular Record Date and may be paid
to the Person in whose name this Security (or one or more Predecessor Securities) is registered at
the close of business on a Special Record Date to be fixed by the Trustee for the payment of such
Defaulted Interest, notice whereof shall be given to the registered Holders of this series of
Securities not less than 10 days prior to such special record date, or may be paid at any time in
any other lawful manner not inconsistent with the requirements of any securities exchange on which
the Securities may be listed, and upon such notice as may be required by such exchange, all as more
fully provided in the Indenture.

     Until the Remarketing Settlement Date, if any, the indebtedness evidenced by this Security is,
to the extent provided in the Indenture, subordinate and junior in right of payment to the prior
payment in full of all Senior Debt of the Company, and this Security is issued subject to the
provisions of the Indenture with respect thereto. Each Holder of this Security, by accepting the
same, (a) agrees to and shall be bound by, such provisions, (b) authorizes and directs the Trustee
on his or her behalf to take such action as may be necessary or appropriate to acknowledge or
effectuate the subordination so provided and (c) appoints the Trustee his or her attorney-in-fact
for any and all such purposes. Each Holder hereof, by his or her acceptance hereof, hereby waives
all notice of the acceptance of the subordination provisions contained herein and in the Indenture
by each holder of Senior Debt of the Company, whether now outstanding or hereafter incurred, and
waives reliance by each such holder upon said provisions.

     The Company shall have the right, at any time and from time to time, prior to February 15,
2011 to defer the payment of interest on this Security for one or more consecutive Interest Periods
as described on the reverse hereof. The Company shall give

Series B-1 Debenture

A-2

 

written notice to the Trustee and the Holders of this Security of its election to begin any
Deferral Period at least one Business Day prior to the Regular Record Date for that Interest
Payment Date, provided, however, that the Company’s failure to pay any interest due within five
Business Days after any Interest Payment Date occurring prior to the First Stock Purchase Date
shall automatically and without any further action by any Person be deemed to commence a Deferral
Period.

     Payment of the principal of (and premium, if any) and interest on this Security will be made
at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The
City of New York, in such coin or currency of the United States of America as at the time of
payment is legal tender for payment of public and private debts; provided, however, that at the
option of the Company payment of interest may be made by check mailed to the address of the Person
entitled thereto as such address shall appear in the Security Register or by wire transfer of
immediately available funds to an account designated by the Holder of this Security.

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

     Unless the certificate of authentication hereon has been executed by the Trustee referred to
on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under
the Indenture or be valid or obligatory for any purpose.

Series B-1 Debenture

A-3

 

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

     Dated:

	 	 	 	 	 	 	 
	 	 	American International Group, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	Attest:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

  [Secretary or Assistant Secretary]

	 	 	 	 	 	 

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

Dated:

	 	 	 	 	 	 	 
	 	 	The Bank of New York,
as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

Series B-1 Debenture

(Signature Page for Security)

 

ANNEX A

REVERSE OF SECURITY

     This Security is one of a duly authorized issue of securities of the Company (herein called
the “Securities”), issued and to be issued in one or more series under a Junior
Subordinated Debt Indenture, dated as of March 13, 2007 (herein called the “Base
Indenture”), as supplemented by a Sixth Supplemental Indenture, dated as of May 16, 2008
(herein called the “Sixth Supplemental Indenture” and, together with the Base Indenture,
the “Indenture”), in each case, between the Company and The Bank of New York, as Trustee
(herein called the “Trustee”, which term includes any successor trustee under the
Indenture), and reference is hereby made to the Indenture for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the Trustee, the holders of
Senior Debt and the Holders of the Securities and of the terms upon which the Securities are, and
are to be, authenticated and delivered. This Security is one of the series designated on the face
hereof limited in aggregate principal amount to $1,960,000,000 (except for Securities authenticated
and delivered upon registration or transfer of, or exchange for, or in lieu of, other Securities
pursuant to Section 304, 305, 306, 906 or 1107 of the Base Indenture or 2.1(n) or 2.1(p) of the
Sixth Supplemental Indenture).

     All terms used in this Security that are defined in the Indenture shall have the meanings
assigned to them in the Indenture.

     The Securities of this series are subject to redemption on or after February 15, 2013, in
whole or in part, upon not less than 30 days nor more than 60 days’ prior notice by first class
mail, postage pre-paid, to each Holder of Securities to be redeemed, at a Redemption Price equal to
the greater of 100% of the principal amount thereof and the Make-Whole Redemption Price, plus, in
either case, accrued and unpaid interest, if any, to the Redemption Date.

     In the event of redemption of this Security in part only, a new Security or Securities of this
series and of like tenor and of an authorized denomination for the unredeemed portion hereof will
be issued in the name of the Holder hereof upon the cancellation hereof.

     The Company may elect at any time at least 30 days prior to the Remarketing Period Start Date,
but on one occasion only:

     (i) to change the maturity of principal of this Security to a date that is earlier
than February 15, 2041; provided, however, that the maturity of principal of this Security
may not be changed to a date earlier than February 15, 2013;

     (ii) to change the terms of this Security to eliminate the Company’s right to redeem
this Security at its option or to specify a date that may not be earlier than February 15,
2013 on and after which this Security will be redeemable at the Company’s option either in
whole or in part (as elected by the Company) or to modify the definition of Make-Whole
Redemption Price or to provide that the

Series B-1 Debenture

A-5

 

Redemption Price shall be equal to the principal amount of this Security to be
redeemed, plus accrued and unpaid interest to the Redemption Date; or

     (iii) to provide that this Security shall bear interest at a floating rate equal to
the applicable index plus a Reset Spread determined in accordance with Section 2.1(p) of
the Sixth Supplemental Indenture, in which case the Company may also elect to modify the
business day and day count conventions set forth in Section 2.1(e) of the Sixth
Supplemental Indenture to conform to market practice for floating-rate debentures bearing
interest at a rate determined by reference to such index.

     The elections set forth in clauses (i) and (ii) of the preceding paragraph shall become
effective immediately upon the Trustee’s receipt of such notice and the election set forth in
clause (iii) above shall become effective on the Remarketing Settlement Date.

     The Indenture contains provisions permitting the Company and the Trustee, with the consent of
the Holders of not less than a majority in aggregate principal amount of the Securities of each
series affected at the time Outstanding, to execute supplemental indentures for the purpose of
adding any provisions to or changing in any manner or eliminating any of the provisions of the
Indenture or of any supplemental indenture or of modifying in any manner the rights of the Holders
of the Securities; provided, however, that, except as provided above and in the Sixth Supplemental
Indenture, no such supplemental indenture shall (i) extend the fixed maturity of any Securities of
any series, or reduce the principal amount thereof, reduce the rate or extend the time of payment
of interest thereon, reduce any premium payable upon the redemption thereof, modify the right of
Holders of Securities that are Separate Debentures to require the Company to purchase such
Securities upon a Failed Remarketing, or modify the provisions of the Indenture relating to the
Remarketing of the Securities, without the consent of the Holder of each Security so affected, or
(ii) reduce the aforesaid percentage of Securities the Holders of which are required to consent to
any such supplemental indenture, without the consent of the Holders of each Security then
outstanding and affected thereby. The Indenture also contains provisions permitting the Holders of
a majority in aggregate principal amount of the Securities of any series at the time outstanding
affected thereby, on behalf of all of the Holders of the Securities of such series, to waive any
past default in the performance of any of the covenants contained in the Indenture, or established
pursuant to the Indenture with respect to such series, and its consequences, except a default in
the payment of the principal of or premium, if any, or interest (subject to the Company’s right to
defer interest payments) on any of the Securities of such series. Any such consent or waiver by
the registered Holder of this Security (unless revoked as provided in the Indenture) shall be
conclusive and binding upon such Holder and upon all future Holders and owners of this Security and
of any Security issued in exchange herefor or in place hereof (whether by registration of transfer
or otherwise), irrespective of whether or not any notation of such consent or waiver is made upon
this Security.

Series B-1 Debenture

A-6

 

     No reference herein to the Indenture and no provision of this Security or of the Indenture
shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay
the principal of and premium, if any, and interest (subject to the Company’s right to defer
interest payments) on this Security at the time and place and at the rate and in the money herein
prescribed.

     The Company shall have the right, at any time and from time to time prior to February 15,
2011, to defer the payment of interest on the Securities for one or more consecutive Interest
Periods; provided that no Deferral Period shall extend beyond February 15, 2011 (such interest
referred to as “Deferred Interest”). Deferred Interest will accrue interest at the rate of
5.67% per annum compounded on each Interest Payment Date. The Company agrees that (A) until
February 15, 2011, (x) if an Event of Default has occurred and is continuing, (y) the Company has
given notice of its election to defer interest payments but the Deferral Period has not yet
commenced or (z) a Deferral Period is continuing, (B) the Company has given notice of its election
to defer Contract Adjustment Payments but the related deferral period has not yet commenced or a
deferral period is continuing with respect to such Contract Adjustment Payments, or (C) Additional
Debentures are outstanding, the Company shall not, and shall not permit any Subsidiary, subject to
the exceptions specified below, to: (a) declare or pay any dividends or distributions on, or
redeem, purchase, acquire or make a liquidation payment with respect to, any Capital Stock of the
Company, (b) make any payment of principal of, or interest or premium, if any, on, or repay,
purchase or redeem any debt securities of the Company that rank pari passu with, or junior to, this
Security or (c) make any payments with respect to any Guarantee by the Company of securities of any
Subsidiary if such Guarantee ranks pari passu with, or junior to, this Security. The Company may
pay Deferred Interest (together with compounded interest thereon, if any, to the extent permitted
by applicable law) to the Holder at any time either in the form of cash or in the form of
Additional Debentures having a principal amount equal to the amount of accrued but unpaid Deferred
Interest on the date of issuance and maturing on the later of August 1, 2014 and the date five
years after the date of commencement of the Deferral Period; provided, however, that the Company
must pay any accrued but unpaid Deferred Interest to the Holder either in the form of cash or in
the form of Additional Debentures on the First Stock Purchase Date, whether or not such Holder
participates in the Remarketing. Deferred Interest paid on any Interest Payment Date shall be
payable to the Person in whose name the Debentures are registered at the close of business on the
Regular Record Date next preceding such Interest Payment Date, provided that the Company may
establish a Special Record Date for any Deferred Interest to be paid on a date other than an
Interest Payment Date and Holders on that Special Record Date shall be entitled to payment of the
Deferred Interest. Upon termination of any Deferral Period and upon the payment of all Deferred
Interest and any compounded interest then due on any Interest Payment Date, the Company may elect
to begin a new Deferral Period.

     The restrictions on payments do not apply to (a) purchases, redemptions or other acquisitions
of shares of the Company’s Capital Stock in connection with (1) any Employee Benefit Plan or the
Assurance Agreement or (2) a dividend reinvestment, stock

Series B-1 Debenture

A-7

 

purchase plan or other similar plan, (b) any exchange or conversion of any class or series of
the Company’s Capital Stock (or the Capital Stock of any Subsidiary) for any class or series of the
Company’s Capital Stock or of any class or series of Indebtedness of the Company for any class or
series of the Company’s Capital Stock, (c) the purchase of fractional interests in shares of the
Capital Stock of the Company in accordance with the conversion or exchange provisions of the
Company’s Capital Stock or the security or instrument being converted or exchanged, (d) any
declaration of a dividend in connection with any stockholders’ right plan, or the issuance of
rights, equity securities or other property under any stockholders’ right plan, or the redemption
or repurchase of rights in accordance with any stockholders’ rights plan, (e) any dividend in the
form of equity securities, warrants, options or other rights where the dividend stock or the stock
issuable upon exercise of the warrants, options or other rights is the same stock as that on which
the dividend is being paid or ranks pari passu with or junior to such equity securities, (f) any
payment during a Deferral Period of current or deferred interest in respect of any debt securities
of the Company that rank pari passu with the Debentures that is made pro rata to the amounts due on
pari passu securities and the Debentures, (g) any payments of deferred interest or principal on
such pari passu securities that, if not made, would cause the Company to breach the terms of the
instrument governing such pari passu securities, (h) the repurchase of any debt securities of the
Company that rank pari passu with this Security in exchange for common stock in connection with a
failed remarketing or similar event, any payment of deferred interest on any such debt securities
in the form of additional debentures that will rank pari passu with this Security and the repayment
of any such additional debentures at maturity or (i) any repayment or redemption of a security
necessary to avoid a breach of the instrument governing that security.

     After the First Stock Purchase Date, so long as this Security bears interest at a fixed rate
of interest, this Security will be subject to defeasance of the entire indebtedness of this
Security and of certain restrictive covenants and events of default, in each case upon compliance
with certain conditions set forth in the Indenture.

     After the First Stock Purchase Date, the Securities of this series will be entitled to the
benefits of the Events of Default described in the Base Indenture. Until the First Stock Purchase
Date, the Securities of this series are entitled to the Events of Default specified in the Sixth
Supplemental Indenture.

     As provided in and subject to the provisions of the Indenture, the Holder of this Security
shall not have the right to institute any proceeding with respect to the Indenture or for the
appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall
have previously given the Trustee written notice of a continuing Event of Default with respect to
the Securities of this series, the Holders of not less than 25% in principal amount of the
Securities of this series at the time outstanding shall have made written request to the Trustee to
institute proceedings in respect of such Event of Default, as Trustee and offered the Trustee
reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in
principal amount of Securities of this series at the time outstanding a direction inconsistent with
such request, and shall have failed to

Series B-1 Debenture

A-8

 

institute any such proceeding, for 60 days after receipt of such notice, request and offer of
indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for
the enforcement of any payment of principal hereof or any premium or, to the extent provided in
Section 2.1(g) of the Sixth Supplemental Indenture, interest hereon on or after the respective due
dates.

     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Security is registrable in the Security Register, upon surrender of this Security
for registration of transfer at the office or agency of the Company in any place where the
principal of and any premium and interest on this Security are payable, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing,
and thereupon one or more new Securities of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated
transferee or transferees.

     The Securities of this series are issuable only in registered form without coupons in
denominations of $1,000 and integral multiples of $1,000 in excess thereof. As provided in the
Indenture and subject to certain limitations therein set forth, Securities of this series are
exchangeable for a like aggregate principal amount of Securities of this series and of like tenor
of a different authorized denomination, as requested by the Holder surrendering the same.

     No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in connection therewith.

     Prior to due presentment of this Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in whose name this
Security is registered as the owner hereof for all purposes, whether or not this Security be
overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary.

     The Company agrees, and by acceptance of a Corporate Unit, each holder of a Corporate Unit
will be deemed to have agreed (unless the United States Internal Revenue Service requires a
different treatment from such holder) (1) for United States federal, state and local income and
franchise tax purposes to treat the acquisition of a Corporate Unit as the acquisition of the
applicable ownership interest in this Security and the Other Debentures and the Stock Purchase
Contract constituting the Corporate Unit, (2) to treat this Security as indebtedness for United
States federal, state and local income and franchise tax purposes, (3) if such holder purchased the
Corporate Unit in the initial offering for $75, to allocate $25 to the undivided beneficial
ownership interests in this Security and each Other Debenture and $0 to the Stock Purchase Contract
included in a Corporate Unit, and (4) to treat this Security as a “variable rate debt instrument”
for U.S. federal income tax purposes.

Series B-1 Debenture

A-9

 

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

Series B-1 Debenture

A-10

 

ABBREVIATIONS

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

	 	 	 
	TEN COM:

	 	as tenants in common
	 
	 	 
	UNIF GIFT MIN ACT:    

	 	                        Custodian                                    
	 

	 	(Cust) (Minor)
	 
	 	 
	TEN ENT:

	 	as tenants by the entireties
	 
	 	 
	JT TEN:

	 	as joint tenants with right of survivorship and not as tenants in common
	 
	 	 
	Under Uniform Gifts
to Minors Act
(State)
	 	 

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

Series B-1 Debenture

A-11

 

ASSIGNMENT

     FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

 

 

(Please insert Social Security or Taxpayer I.D. or other Identifying Number of Assignee)

 

 

(Please print or type name and address including Postal Zip code of Assignee)

the within Debenture and all rights thereunder, hereby irrevocably constituting and appointing
                                         Attorney, to transfer said Debenture on the books of the Security Registrar, with
full power of substitution in the premises.

	 	 	 	 	 	 	 	 	 
	Dated:

	 	 	 	Signature	 	 	 	 
	 

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

Series B-1 Debenture

A-12

 

[TO BE ATTACHED TO GLOBAL CERTIFICATES AND PLEDGED

DEBENTURES]

SCHEDULE OF INCREASES OR DECREASES IN SECURITY

The initial principal amount of Securities represented by this [Global] Security is
$         . The following increases or decreases in this [Global] Security have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Signature of
	 	 	 	 	 	 	Principal	 	authorized
	 	 	Amount of	 	Amount of	 	amount of this	 	signatory of
	 	 	increase in	 	decrease in	 	Security	 	[Security
	 	 	principal	 	principal	 	following such	 	Registrar]
	 	 	amount of this	 	amount of this	 	decrease or	 	[Collateral
	Date	 	Security	 	Security	 	increase	 	Agent]
	 

	 	 
	 	 
	 	 
	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 

	 	 
	 	 
	 	 
	 	 

Series B-1 Debenture

A-13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}]]