Document:

Exhibit 4.3

                         TYCO INTERNATIONAL GROUP S.A.

                                Debt Securities

                               Purchase Agreement

                                                                 March 30, 2000

MERRILL LYNCH INTERNATIONAL
J.P. MORGAN SECURITIES LTD.
ABN AMRO Bank N.V.
Banca d'Intermediazione Mobiliare IMI Spa
Banque Nationale de Paris
Barclays Bank PLC
Bayerische Hypo- und Vereinsbank AG
Commerzbank Aktiengesellschaft
Credit Lyonnais
Credit Suisse First Boston (Europe) Limited
Deutsche Bank Aktiengesellschaft
Dresdner Bank AG London Branch
HSBC Bank plc
Westdeutsche Landesbank Girozentrale

c/o Merrill Lynch International
25 Ropemaker Place
London EC2Y 9LY, England

Ladies and Gentlemen:

         Tyco International Group S.A., a Luxembourg company (the "Company"),
proposes to issue and sell to the managers named in Schedule II hereto (the
"Managers" which term shall also include any manager substituted as herein
provided), for whom you are acting as representatives (the "Representatives"),
the principal amount of its debt securities identified in Schedule I hereto
(the "Securities"), to be issued under the Indenture, dated as of June 9, 1998,
as supplemented by Supplemental Indenture No. 13 thereto (as so supplemented,
the "Indenture"), in each case, among the Company, Tyco International Ltd.
("Tyco"), a Bermuda company and the sole shareholder of the Company, and The

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Bank of New York, as trustee (the "Trustee"). The Securities will be
unconditionally guaranteed by Tyco (the "Guarantees"). If the firm or firms
listed in Schedule II hereto include only the firm or firms listed in Schedule
I hereto, then the terms "Managers" and "Representatives", as used herein shall
each be deemed to refer to such firm or firms.

         The Company and Tyco understand that the Managers propose to make an
offering of the Securities and the Guarantees on the terms and in the manner
set forth herein and agrees that the Managers may resell, subject to the
conditions set forth herein, all or a portion of the Securities and the
Guarantees to purchasers ("Subsequent Purchasers") at any time after the date
of this Agreement. The Securities and Guarantees are to be offered and sold
through the Managers without being registered under the Securities Act of 1933,
as amended, and the rules and regulations of the Securities and Exchange
Commission (the "Commission") thereunder (collectively the "Securities Act"),
in reliance upon exemptions therefrom. Pursuant to the terms of the Securities,
the Guarantees and the Indenture, investors that acquire Securities and the
Guarantees may only resell or otherwise transfer such Securities if such
Securities are hereafter registered under the Securities Act or if an exemption
from the registration requirements of the Securities Act is available
(including the exemption afforded by Rule 144A ("Rule 144A") or Regulation S
("Regulation S") of the rules and regulations promulgated under the Securities
Act by the Commission).

         The Company and Tyco have prepared and will deliver to the Managers,
on the date hereof, copies of a final offering circular dated March 30, 2000
(the "Offering Circular") used or to be used by the Managers in connection with
their solicitation of purchases of, or offering of, the Securities and
Guarantees. The Company and Tyco have previously delivered to the Managers
copies of a preliminary offering circular dated March 14, 2000 (the
"Preliminary Offering Circular").

         All references in this Agreement to financial statements and schedules
and other information which is "contained," "included" or "stated" in the
Offering Circular (or other references of like import) shall be deemed to mean
and include all such financial statements and schedules and other information
which is incorporated by reference in the Offering Circular; and all references
in this Agreement to amendments or supplements to the Offering Circular shall
be deemed to mean and include the filing of any document under the Securities
Exchange Act of 1934 as amended, and the rules and regulations of the
Commission thereunder (the "Exchange Act") which is incorporated by reference
in the Offering Circular.

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         The holders of the Securities and the Guarantees identified in
Schedule I will be entitled to the benefits of the registration rights
agreement (the "Registration Rights Agreement"), to be dated as of the Closing
Date (as defined below) among the Company, Tyco and the Managers, pursuant to
which the Company and Tyco will agree to file, as soon as practicable after the
Closing Date but in any event within 150 days of the Closing Date, a
registration statement with the Commission registering the Exchange Securities
(as defined in the Registration Rights Agreement) under the Securities Act.

         The Company and Tyco hereby agree with the Managers as follows:

           1. The Company agrees to issue and sell the Securities and Tyco
agrees to issue the Guarantees to the several Managers as hereinafter provided,
and each Manager, on the basis of the representations and warranties herein
contained, but subject to the conditions hereinafter stated, agrees to
purchase, severally and not jointly, from the Company the respective principal
amount of Securities and Guarantees set forth opposite such Manager's name in
Schedule II hereto at the purchase price of 99.032% of the principal amount
thereof (which shall equal the issue price of each Security (together with its
related Guarantee) of 99.432%, less a selling concession of 0.25% and a
combined management and underwriting commission of 0.15% of the principal
amount of the Securities which may be divided among you in such proportions as
you may determine which is to be payable to the Managers in connection with the
offering and sale of the Securities and Guarantees) (the "Purchase Price"),
plus accrued interest, if any, from the date specified in Schedule I hereto to
the date of payment and delivery.

           2. The Company and Tyco understand that the several Managers intend
(i) to make an offering of their respective portions of the Securities and the
Guarantees and (ii) initially to offer the Securities and the Guarantees upon
the terms set forth in the Offering Circular. In connection with the offering
and sale of the Securities and the Guarantees, Merrill Lynch International or
its affiliates may over-allot or effect transactions which stabilize or
maintain the market price of the Securities and the Guarantees at levels above
those which might otherwise prevail in the open market. Such transactions may
be effected in the over-the- counter markets or otherwise. Such stabilizing, if
commenced, may be discontinued at any time.

           3. Payment of the Purchase Price for the Securities and the
Guarantees shall be made by wire transfer in immediately available funds to the
account specified by the Company to the Representatives (which account
information shall be provided no later than noon on the Business Day prior to
the Closing Date (as defined below)) at 9:00 A.M., London time, on April 4,
2000 at the offices of Merrill Lynch International, 25 Ropemaker Place, London
EC2Y 9LY, England

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(or at such other time and place on the same or such other date, not later than
the fifth Business Day (as defined below) thereafter, as you and the Company
may agree in writing). As used herein, the term "Business Day" means any day on
which the Trans-European Automated Real-Time Gross Settlement Express Transfer
(TARGET) System is open and such day is not a day on which banks or foreign
exchange markets are permitted or required to be closed in London. The time and
date of such payment and delivery with respect to the Securities and the
Guarantees are referred to herein as the "Closing Date".

         Payment of the Purchase Price for the Securities and the Guarantees,
less an amount heretofore agreed to be deductible from the Purchase Price in
respect of expenses, shall be made (against delivery in the case of (i)) to (i)
the common depositary for Morgan Guaranty Trust Company of New York, Brussels
office, as operator of the Euroclear System ("Euroclear") and Clearstream
Banking, societe anonyme, Luxembourg ("Clearstream, Luxembourg") and (ii) the
nominee of The Depository Trust Company for the respective accounts of the
several Managers of global notes (the "Global Notes") representing the
Securities and the Guarantees, with any transfer taxes payable in connection
with the transfer to the Managers of the Securities and the Guarantees duly
paid by the Company. The Global Notes will be made available for inspection by
the Representatives at the office of Merrill Lynch International, 25 Ropemaker
Place, London EC2Y 9LY, England, not later than 1:00 P.M., London time, on the
Business Day prior to the Closing Date.

           4. The Company and Tyco, jointly and severally, represent and warrant
to each Manager that:

          (a) neither the Company nor Tyco has, directly or indirectly,
         solicited any offer to buy or offered to sell, and each will not,
         directly or indirectly, solicit any offer to buy or offer to sell, in
         the United States or to any United States citizen or resident, any
         security which is or would be integrated with the sale of the
         Securities and the Guarantees in a manner that would require the
         Securities or the Guarantees to be registered under the Securities
         Act;

          (b) the Preliminary Offering Circular as of its date did not contain,
         and the Offering Circular at the Closing Date will not contain an
         untrue statement of a material fact or 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; provided,
         that this representation, warranty and agreement shall not apply to
         statements in or omissions from the Preliminary Offering Circular and
         the Offering Circular made in reliance upon and in conformity with
         information

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         furnished to the Company and Tyco in writing by any Manager with
         respect to that Manager through Merrill Lynch International or J.P.
         Morgan Securities Ltd. expressly for use in the Preliminary Offering
         Circular or the Offering Circular, as the case may be;

          (c) the documents incorporated by reference in the Preliminary
         Offering Circular and in the Offering Circular, or portions thereof,
         to the extent only a portion of a document is incorporated by
         reference in the Preliminary Offering Circular or in the Offering
         Circular, when they became effective or were filed with the
         Commission, as the case may be, conformed in all material respects to
         the requirements of the Securities Act or the Exchange Act, as
         applicable, and none of such documents contained an untrue statement
         of a material fact or omitted to state a material fact required to be
         stated therein or necessary to make the statements therein, in the
         light of the circumstances under which they were made, not misleading;
         and any further documents so filed and incorporated by reference in
         the Preliminary Offering Circular or in the Offering Circular, when
         such documents become effective or are filed with the Commission, as
         the case may be, will conform in all material respects to the
         requirements of the Securities Act or the Exchange Act, as applicable,
         and will not contain an untrue statement of a material fact or omit to
         state a material fact required to be stated therein or necessary to
         make the statements therein, in the light of the circumstances under
         which they were made, not misleading;

          (d) PricewaterhouseCoopers, Arthur Anderson L.L.P. (Houston), Arthur
         Anderson LLP (Philadelphia) and Deloitte & Touche LLP who certified
         the financial statements and supporting schedules included or
         incorporated by reference in the Offering Circular are independent
         public accountants required by the Securities Act;

          (e) the financial statements of Tyco, and the related schedules and
         notes thereto, included or incorporated by reference in the
         Preliminary Offering Circular and in the Offering Circular present
         fairly the consolidated financial position of Tyco and its
         consolidated subsidiaries as of the dates indicated and the results of
         their operations and the changes in their consolidated cash flows for
         the periods specified; said financial statements have been prepared in
         conformity with United States generally accepted accounting principles
         ("U.S. GAAP") applied on a consistent basis, except as otherwise
         disclosed therein, and the supporting schedules included or
         incorporated by reference in the Preliminary Offering Circular and in
         the Offering Circular present fairly in accordance with U.S. GAAP the
         information required to be stated therein; any pro forma financial

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         information, and the related notes thereto, to the extent included or
         incorporated by reference in the Preliminary Offering Circular and in
         the Offering Circular, has been prepared in accordance with the
         applicable requirements of the Securities Act and the Exchange Act, as
         applicable, and is based upon good faith estimates and assumptions
         believed by Tyco to be reasonable; the selected financial data of Tyco
         included in the Preliminary Offering Circular and in the Offering
         Circular present fairly the information shown therein; the selected
         financial data of Tyco have been compiled on a basis consistent with
         that of the audited consolidated financial statements included or
         incorporated by reference in the Preliminary Offering Circular and in
         the Offering Circular; no pro forma financial statements would be
         required under the Securities Act to be included in the Preliminary
         Offering Circular and in the Offering Circular (to the extent not
         included or incorporated by reference) if the offering of the
         Securities was being made in a public offering pursuant to a
         registration statement under the Securities Act;

          (f) since the respective dates as of which information is given in
         the Offering Circular, there has not been any change in the capital
         stock or long-term debt (on a consolidated basis) of Tyco, or any
         material adverse change, or any development involving a prospective
         material adverse change that is reasonably likely to occur, in or
         affecting the general affairs, business, prospects, management,
         financial position, shareholders' equity or results of operations of
         Tyco and its subsidiaries, taken as a whole, whether or not arising in
         the ordinary course of business (a "Material Adverse Effect"),
         otherwise than as set forth or contemplated in the Offering Circular;
         and except as set forth or contemplated in the Offering Circular,
         neither Tyco nor any of its subsidiaries has entered into any
         transaction or agreement (whether or not in the ordinary course of
         business) material to Tyco and its subsidiaries, taken as a whole;

          (g) the Company is a corporation duly and validly organized and
         existing under the laws of Luxembourg, with power and authority
         (corporate and other) to own, lease and operate its properties and
         conduct its business as described in the Offering Circular, and is
         duly qualified as a foreign corporation to transact business and is in
         good standing under the laws of each other jurisdiction in which the
         nature of its business or its ownership or leasing of its properties
         requires qualification, except where the failure to be so qualified or
         in good standing would not have a material adverse effect on the
         Company and its subsidiaries, taken as a whole;

          (h)   Tyco is a limited liability company duly and validly
         organized and existing and in good standing under the laws of Bermuda,

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         with power and authority (corporate and other) to own, lease and
         operate its properties and conduct its business as described in the
         Offering Circular, and is duly qualified as a foreign corporation to
         transact business and is in good standing under the laws of each other
         jurisdiction in which the nature of its business or the ownership or
         leasing of its properties requires qualification, except where the
         failure to be so qualified or in good standing would not have a
         Material Adverse Effect;

          (i) each of Tyco's material subsidiaries is duly and validly
         organized and existing as a corporation under the laws of its
         jurisdiction of incorporation, with power and authority (corporate and
         other) to own its properties and conduct its business as described in
         the Offering Circular, is duly qualified as a foreign corporation to
         transact business and is in good standing under the laws of each
         jurisdiction in which the nature of its business or its ownership or
         leasing of its properties requires qualification, except where the
         failure to be so qualified or in good standing would not have a
         Material Adverse Effect; and, except as otherwise disclosed in the
         Offering Circular, all the outstanding shares of capital stock of Tyco
         and each subsidiary of Tyco have been duly authorized and validly
         issued, are fully paid and non-assessable, and are owned by Tyco, as
         the case may be, directly or indirectly, free and clear of all liens,
         encumbrances, security interests and claims, except for non-material
         liens that have arisen in the ordinary course of business and, in the
         case of non-United States subsidiaries, for directors' qualifying
         shares, and except where the failure to own such shares, directly or
         indirectly, free and clear of all liens, encumbrances, security
         interests and claims would not have a Material Adverse Effect;

          (j) Tyco had as of the date indicated in the Offering Circular a duly
         authorized and outstanding capitalization as set forth in the
         Preliminary Offering Circular and in the Offering Circular in the
         column entitled "Actual" under the caption "Capitalization of Tyco";
         except as disclosed in the Offering Circular and except with respect
         to the rights of holders of the Company's privately-placed 6-7/8%
         Notes due 2002 to receive 6-7/8% Notes due 2002 which are to be
         registered under the Securities Act for which the Company and Tyco
         have filed a registration statement on Form S-4 with the Commission,
         there are no holders of securities (debt or equity) of Tyco or any of
         its subsidiaries (including the Company), or holders of rights,
         warrants or options to obtain securities of Tyco or any of its
         subsidiaries who have the right to request the Company or Tyco to
         register securities held by them under the Securities Act other than
         holders who have elected not to exercise their rights or whose
         securities have been so registered;

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          (k)   this Agreement has been duly authorized, executed and
         delivered by each of the Company and Tyco;

          (l) the Securities have been duly authorized and when duly
         authenticated by the Trustee pursuant to the Indenture and issued and
         delivered pursuant to this Agreement, will have been duly executed,
         issued and delivered and will constitute valid and binding obligations
         of the Company, enforceable against the Company in accordance with
         their terms, except as the enforcement thereof may be limited by
         bankruptcy, insolvency (including, without limitation, all laws
         relating to fraudulent transfers), reorganization, moratorium or
         similar laws affecting enforcement of creditors' rights generally and
         except as enforcement thereof is subject to general principles of
         equity (regardless of whether enforcement is considered in a
         proceeding in equity or at law), and entitled to the benefits provided
         by the Indenture; the Indenture has been duly authorized, executed and
         delivered by the Company and constitutes a valid and binding
         instrument of the Company, enforceable against the Company in
         accordance with its terms, except as the enforcement thereof may be
         limited by bankruptcy, insolvency (including, without limitation, all
         laws relating to fraudulent transfers), reorganization, moratorium or
         similar laws affecting enforcement of creditors' rights generally and
         except as enforcement thereof is subject to general principles of
         equity (regardless of whether enforcement is considered in a
         proceeding in equity or at law); the Indenture has been duly qualified
         under the Trust Indenture Act of 1939, as amended (the "Trust
         Indenture Act"); the Registration Rights Agreement has been duly
         authorized, executed and delivered and will constitute a valid and
         binding agreement of the Company, enforceable against the Company in
         accordance with its terms, except as the enforcement thereof may be
         limited by bankruptcy, insolvency (including, without limitation, all
         laws relating to fraudulent transfers), reorganization, moratorium or
         similar laws affecting enforcement of creditors' rights generally and
         except as enforcement thereof is subject to general principles of
         equity (regardless of whether enforcement is considered in a
         proceeding in equity or at law);

          (m) the Guarantees have been duly authorized and when the Securities
         have been duly authenticated by the Trustee pursuant to the Indenture
         and issued and delivered pursuant to this Agreement, will have been
         duly executed, issued and delivered and will constitute valid and
         binding obligations of Tyco, enforceable against Tyco in accordance
         with its terms, except as the enforcement thereof may be limited by
         bankruptcy, insolvency (including, without limitation, all laws
         relating to fraudulent

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         transfers), reorganization, moratorium or similar laws affecting
         enforcement of creditors' rights generally and except as enforcement
         thereof is subject to general principles of equity (regardless of
         whether enforcement is considered in a proceeding in equity or at
         law), and entitled to the benefits provided by the Indenture; the
         Indenture has been duly authorized, executed and delivered by Tyco and
         constitutes a valid and binding instrument of Tyco, enforceable
         against Tyco in accordance with its terms, except as the enforcement
         thereof may be limited by bankruptcy, insolvency (including, without
         limitation, all laws relating to fraudulent transfers),
         reorganization, moratorium or similar laws affecting enforcement of
         creditors' rights generally and except as enforcement thereof is
         subject to general principles of equity (regardless of whether
         enforcement is considered in a proceeding in equity or at law); the
         Registration Rights Agreement has been duly authorized, executed and
         delivered and will constitute a valid and binding agreement of Tyco,
         enforceable against Tyco in accordance with its terms, except as the
         enforcement thereof may be limited by bankruptcy, insolvency
         (including, without limitation, all laws relating to fraudulent
         transfers), reorganization, moratorium or similar laws affecting
         enforcement of creditors' rights generally and except as enforcement
         thereof is subject to general principles of equity (regardless of
         whether enforcement is considered in a proceeding in equity or at
         law);

          (n) neither Tyco nor any of its subsidiaries is, or, with the giving
         of notice or lapse of time or both would be, in violation of or in
         default under, its memorandum of association, articles of
         organization, certificate of incorporation or other similar charter
         document (each a "Charter") or by-laws or any indenture, mortgage,
         deed of trust, loan agreement, note, lease or other agreement or
         instrument to which Tyco or any of its subsidiaries is a party or by
         which it or any of them or any of their respective properties is bound
         or subject, except for violations and defaults which individually and
         in the aggregate would not result in a Material Adverse Effect, or are
         not material to the holders of the Securities and the Guarantees; the
         execution, delivery and performance of this Agreement, the
         Registration Rights Agreement, the Indenture, the Securities and the
         Guarantees by the Company and Tyco, as the case may be, the
         consummation of the transactions contemplated herein, therein and in
         the Offering Circular (including the issuance and sale of the
         Securities and the Guarantees and the use of the proceeds from the
         sale of the Securities as described in the Offering Circular under the
         caption "Use of Proceeds") and the compliance by the Company and Tyco
         with their respective obligations under this Agreement, the
         Registration Rights Agreement, the Indenture, the Securities and the
         Guarantees do not and will not conflict

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         with or result in a breach of any of the terms or provisions of or
         with the giving of notice or lapse of time or both conflict with or
         constitute a breach of, or default or a Repayment Event (as defined
         below) under, or result in the creation or imposition of any lien,
         charge or encumbrance upon the property or assets of Tyco or any of
         its subsidiaries pursuant to, any indenture, mortgage, deed of trust,
         loan agreement or other material agreement or instrument to which Tyco
         or any of its subsidiaries is a party or by which Tyco or any of its
         subsidiaries is bound or to which any of the property or assets of
         Tyco or any of its subsidiaries is subject, except for such conflicts,
         breaches, defaults, liens, charges or encumbrances that would not
         result in a Material Adverse Effect, nor will any such action result
         in any violation of the provisions of the Charter or the by-laws of
         Tyco or any of its subsidiaries or any applicable law or statute or
         any order, rule or regulation of any court or governmental agency or
         body having jurisdiction over Tyco or any of its subsidiaries or any
         of their respective properties; and no consent, approval,
         authorization, order, registration or qualification of or with any
         such court or governmental agency or body is required for the issue
         and sale of the Securities and the issue of the Guarantees or the
         consummation by the Company or Tyco of the transactions contemplated
         by this Agreement, the Registration Rights Agreement or the Indenture,
         except such consents, approvals, authorizations, orders, licenses,
         registrations or qualifications as have been or will be obtained under
         the Securities Act and the Trust Indenture Act and as may be required
         under state securities or Blue Sky laws or foreign security laws in
         connection with the purchase and distribution of the Securities and
         the Guarantees by the Managers. As used herein, a "Repayment Event"
         means any event or condition which gives the holder of any note,
         debenture or other evidence of indebtedness (or any person acting on
         such holder's behalf) the right to require the repurchase, redemption
         or repayment of all or a portion of such indebtedness by the Company
         or Tyco;

          (o) other than as disclosed in or contemplated by the Offering
         Circular, there are no legal or governmental investigations, actions,
         suits or proceedings pending or, to the knowledge of the Company or
         Tyco, threatened to which Tyco or any of its subsidiaries is or may be
         a party or to which any property or assets of Tyco or any of its
         subsidiaries is or may be the subject which, if determined adversely
         to Tyco or any of its subsidiaries, could individually or in the
         aggregate have, or reasonably be expected to have, a Material Adverse
         Effect or which could be reasonably expected to materially and
         adversely affect the consummation of the transactions contemplated by
         this Agreement or the performance by the Company and Tyco of their
         respective obligations hereunder; and no such

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         proceedings are pending or, to the best of the Company's and Tyco's
         knowledge, threatened against Tyco or any of its subsidiaries which
         are required to be disclosed in the Offering Circular, other than
         those disclosed therein; and there are no contracts, mortgages, loan
         agreements, notes, leases or other documents to which Tyco or any of
         its subsidiaries is a party or by which any of them may be bound or to
         which any property or assets of Tyco or any of its subsidiaries is
         subject that are required to be described in the Offering Circular
         which are not described as required;

          (p) except as disclosed in the Offering Circular, no labor dispute
         with the employees of Tyco or any of its subsidiaries exists or, to
         the knowledge of the Company or Tyco, is threatened, which could
         reasonably be expected to result in a Material Adverse Effect;

          (q) neither the Company nor Tyco is, and upon the issuance and sale
         of the Securities and the issuance of the Guarantees as herein
         contemplated and the application of the net proceeds therefrom as
         described in the Offering Circular will be, an "investment company" or
         an entity "controlled" by an "investment company" as such terms are
         defined in the Investment Company Act of 1940, as amended (the
         "Investment Company Act");

          (r) the Securities and the Guarantees are eligible for resale
         pursuant to Rule 144A and will not be, at the Closing Date, of the
         same class as securities listed on a national securities exchange
         registered under Section 6 of the Exchange Act, or quoted in a U.S.
         automated interdealer quotation system;

          (s) none of the Company, Tyco, any of their respective affiliates, as
         such term is defined in Rule 501 (b) of Regulation D under the
         Securities Act ("Affiliates"), or any person acting on its or any of
         their behalf (other than the Managers, as to whom the Company makes no
         representation) has engaged or will engage, in connection with the
         offering of the Securities and the Guarantees, in any form of general
         solicitation or general advertising within the meaning of Rule 502(c)
         of Regulation D under the Securities Act, or in any manner involving a
         public offering of the Securities within the meaning of Section 4(2)
         of the Securities Act;

          (t) subject to compliance by the Managers with the representations
         and warranties set forth in the first three paragraphs of Section 5,
         it is not necessary in connection with the offer, sale and delivery of
         the Securities and the Guarantees to the Managers and to each
         Subsequent Purchaser in the manner contemplated by this Agreement and

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         the Offering Circular to register the Securities and the Guarantees
         under the Securities Act or to qualify the Indenture under the Trust
         Indenture Act;

          (u) with respect to those Securities and Guarantees sold in reliance
         on Regulation S, (A) none of the Company, Tyco, any of their
         respective Affiliates or any person acting on their behalf (other than
         the Managers, as to whom the Company makes no representation) has
         engaged or will engage in any directed selling efforts within the
         meaning of Regulation S and (B) each of the Company, Tyco, any of
         their respective Affiliates and any person acting on their behalf
         (other than the Managers, as to whom the Company makes no
         representation) has complied and will comply with the offering
         restrictions requirement of Regulation S;

          (v) neither the Company nor Tyco or, to the best of the Company's and
         Tyco's knowledge, any officer, director, employee agent or shareholder
         thereof, in each case acting on behalf of the Company or Tyco, as the
         case may be, has done any act or authorized, directed or participated
         in any act, in violation of any provision of the Foreign Corrupt
         Practices Act of 1977, as amended, applicable to such entity or person
         for which civil or criminal liability or penalties, as the case may
         be, could currently be imposed on the Company or Tyco;

          (w) the choice of law provisions set forth in this Agreement, the
         Indenture, the Securities, the Guarantees and the Registration Rights
         Agreement are legal, valid and binding under the laws of Luxembourg
         and Bermuda, respectively, and will be recognized and given effect to
         by the courts of Luxembourg and Bermuda, respectively, (unless a court
         determined that doing so would be contrary to public policy in
         Luxembourg and Bermuda, respectively); each of the Company and Tyco
         has the legal capacity to sue and be sued in its own name under the
         laws of Luxembourg and Bermuda, respectively; each of the Company and
         Tyco has, under the laws of Luxembourg and Bermuda, respectively, the
         power to submit, and has irrevocably submitted, to the jurisdiction of
         the New York courts and has validly and irrevocably appointed CT
         Corporation System, 111 Eighth Avenue, 13th Floor, New York, New York
         10011, U.S.A. (and any successor entity), as its authorized agent for
         the service of process pursuant to this Agreement, the Indenture, the
         Securities, the Guarantees and the Registration Rights Agreement; the
         irrevocable submission of the Company and Tyco to the jurisdiction of
         the New York courts and the waiver by the Company and Tyco of any
         immunity and any objection to the venue of the proceeding in a New
         York court, included in

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         this Agreement, the Indenture, the Securities, the Guarantees or the
         Registration Rights Agreement, are legal, valid and binding under the
         laws of Luxembourg and Bermuda, respectively; neither the Company nor
         Tyco or any of their respective assets is entitled to immunity (or any
         similar defense) from suit, execution, attachment or other legal
         process in Luxembourg and Bermuda, respectively; this Agreement, the
         Indenture, the Securities, the Guarantees and the Registration Rights
         Agreement are in proper legal form under the laws of Luxembourg and
         Bermuda, respectively, for the enforcement thereof against the Company
         and Tyco, respectively, and nothing in Luxembourg and Bermuda law,
         respectively, prevents suit upon this Agreement, the Indenture, the
         Securities, the Guarantees or the Registration Rights Agreement in the
         courts of Luxembourg and Bermuda, respectively; it is not necessary
         (a) in order to enable the Managers to exercise or enforce their
         rights under this Agreement, the Indenture, the Securities, the
         Guarantees or the Registration Rights Agreement in Luxembourg and
         Bermuda, respectively, or (b) by reason of the entry into and/or the
         performance of this Agreement, the Indenture, the Securities, the
         Guarantees and the Registration Rights Agreement, that any of the
         Managers should be licensed, qualified, authorized or entitled to do
         business in Luxembourg and Bermuda, respectively; and

          (x) in any proceedings in Luxembourg and Bermuda, respectively, or
         elsewhere in connection with this Agreement, the Company and Tyco will
         not be entitled to claim for themselves or any of their respective
         assets or property immunity from suit, execution, attachment or other
         legal process.

         Any certificate signed by any officer of the Company or Tyco delivered
to the Managers or to counsel for the Managers shall be deemed a representation
and warranty by the Company or Tyco, as the case may be, to each Manager as to
the matters covered thereby.

           5. Each of the Managers acknowledges that the Securities and
Guarantees have not been and will not be registered under the Securities Act
and may not be offered or sold within the United States or to, or for the
account or benefit of, U.S. persons except in accordance with Regulation S or
pursuant to an exemption from the registration requirements under the
Securities Act. Terms used in this paragraph have the meanings given to them by
Regulation S.

         Each Manager represents and warrants that it has offered and sold the
Securities and Guarantees and agrees that it will offer and sell the Securities
and Guarantees (i) as part of their distribution at any time and (ii)
otherwise, until 40

                                       13

<PAGE>

days after the later of the commencement of the offering and the Closing Date,
only in accordance with Rule 903 of Regulation S. Accordingly, neither it, its
affiliates nor any persons acting on its or their behalf have engaged or will
engage in any directed selling efforts with respect to the Securities and
Guarantees, and it and they have complied and will comply with the offering
restrictions requirement of Regulation S. Each Manager agrees that, at or prior
to confirmation of the sale of Securities and Guarantees, it will have sent to
each distributor, dealer or person receiving a selling concession, fee or other
remuneration that purchases Securities and Guarantees from it during the
restricted period a confirmation or notice to substantially the following
effect:

         "The Securities covered hereby have not been registered under the U.S.
         Securities Act of 1933, as amended (the "Securities Act"), and may not
         be offered and sold within the United States or to, or for the account
         or benefit of, U.S. persons (i) as part of their distribution at any
         time or (ii) otherwise until 40 days after the later of the
         commencement of the offering and the Closing Date, except in either
         case, in accordance with Regulation S under the Securities Act. Terms
         used above have the meanings given to them by Regulation S."

         Any Manager, with the prior written consent of Merrill Lynch
International and J.P. Morgan Securities Ltd., may directly or through its
agents or affiliates arrange for the resale of the Securities and Guarantees in
the United States to qualified institutional buyers or to purchasers who such
Manager reasonably believes is a qualified institutional buyer pursuant to Rule
144A.

         Each Manager further represents and warrants and agrees with the
Company and Tyco that:

          (i) it has not offered or sold and will not offer or sell any
         Securities and Guarantees to persons in the United Kingdom prior to
         the expiry of the period six months from the Closing Date except to
         persons whose ordinary activities involve them in acquiring, holding,
         managing or disposing of investments (as principal or agent) for the
         purposes of their business or otherwise in circumstances which have
         not resulted and will not result in an offer to the public in the
         United Kingdom within the meaning of the Public Offers of Securities
         Regulations 1995;

         (ii) it has complied and will comply with all applicable provisions of
         the Financial Services Act of 1986 with respect to anything done by it
         in relation to the Securities and the Guarantees in, from or otherwise
         involving the United Kingdom; and

                                       14

<PAGE>

        (iii) it has only issued or passed on and will only issue or pass on in
         the United Kingdom any document received by it in connection with the
         issue of the Securities and Guarantees to a person who is of a kind
         described in Article 11(3) of the Financial Services Act of
         1986(Investment Advertisements) (Exemption) Order 1996 (as amended) or
         is a person to whom such document may otherwise lawfully be issued or
         passed on.

         Each Manager also agrees with the Company and Tyco that:

          (i) it will not offer or sell Securities and Guarantees in the
         Federal Republic of Germany other than in compliance with the German
         Securities Sales Prospectus Act of 13 December 1990 (as amended), or
         any other laws applicable in the Federal Republic of Germany governing
         the issue, offering and sale of securities; and

         (ii) it will not offer, transfer or sell the Securities and
         Guarantees, whether directly or indirectly, to any individual or legal
         entity in the Netherlands, as part of their initial distribution, or
         at any time thereafter, other than to individuals or legal entities
         who or which trade or invest in securities in their conduct of a
         profession or trade (which includes banks, brokers, dealers, insurance
         companies, pension funds, other institutional investors and commercial
         enterprises, which regularly, as an ancillary activity, invest in
         securities).

           6.   The Company and Tyco, jointly and severally, covenant and agree
with each of the several Managers as follows:

          (a) to furnish each of the Managers as many copies of the Offering
         Circular (including all amendments and supplements thereto) and
         documents incorporated by reference therein as you may reasonably
         request;

          (b) from the date hereof and prior to the Closing Date, to furnish
         you a copy of any proposed amendment or supplement to the Offering
         Circular, for your review, and not to effect any such proposed
         amendment or supplement to which you reasonably and timely object;

          (c) to file promptly, subject to the provisions of paragraph (b)
         above, all reports and any definitive proxy or information statements
         required to be filed by Tyco with the Commission pursuant to Section
         13(a), 13(c), 14 or 15(d) of the Exchange Act during the period
         mentioned in paragraph (d) below;

                                       15

<PAGE>

          (d) the Company and Tyco will comply with the Securities Act and the
         Exchange Act so as to permit the completion of the distribution of the
         Securities and the Guarantees contemplated in this Agreement and in
         the Offering Circular;

          (e) if, during such period after the first date of the offering of
         the Securities and the Guarantees as in the opinion of counsel for the
         Managers an offering circular relating to the Securities and the
         Guarantees is required by law to be delivered in connection with sales
         of the Securities and the Guarantees by a Manager or dealer, or at any
         time prior to the completion of the distribution of the Securities and
         Guarantees (in the reasonable view of Merrill Lynch International and
         J.P. Morgan Securities Ltd.), any event shall occur as a result of
         which it is necessary to amend or supplement the Offering Circular in
         order to make the statements therein, in the light of the
         circumstances existing when the Offering Circular is delivered to a
         purchaser (or, in the case of certain jurisdictions where the Offering
         Circular is not required to be delivered to a purchaser, when the
         Securities and Guarantees are sold), not misleading, or if it is
         necessary to amend or supplement the Offering Circular to comply with
         law, forthwith to prepare and furnish, at the expense of the Company
         and Tyco, to the Managers to which Securities may have been sold by
         you on behalf of the Managers, such amendments or supplements to the
         Offering Circular as may be necessary so that the statements in the
         Offering Circular as so amended or supplemented will not, in light of
         the circumstances existing when the Offering Circular is delivered to
         a purchaser (or, in the case of certain jurisdictions where the
         Offering Circular is not required to be delivered to a purchaser, when
         the Securities and Guarantees are sold), be misleading or so that the
         Offering Circular will comply with law;

          (f) to use the net proceeds received by the Company from the sale of
         the Securities pursuant to this Agreement in the manner specified in
         the Offering Circular under "Use of Proceeds";

          (g) so long as the Securities and the Guarantees are outstanding, to
         furnish to you upon request copies of all reports or other
         communications (financial or other) furnished to holders of Securities
         and the Guarantees and copies of any reports and financial statements
         furnished to or filed with the Commission or any national securities
         exchange;

          (h) each of the Company and Tyco agrees that they will not and will
         cause their respective affiliates not to make any offer or sale of

                                       16

<PAGE>

         securities of the Company of any class if, as a result of the doctrine
         of "integration" referred to in Rule 502 of Regulation D under the
         Securities Act, such offer or sale could be deemed to render invalid
         (for the purpose of (i) the sale of the Securities and the Guarantees
         by the Company to the Managers, (ii) the resale of the Securities and
         the Guarantees by the Managers to Subsequent Purchasers or (iii) the
         resale of the Securities and the Guarantees by such Subsequent
         Purchasers to others) the exemption from the registration requirements
         of the Securities Act provided by Section 4(2) thereof or by Rule 144A
         or by Regulation S thereunder or otherwise;

          (i) the Company agrees that, in order to render the Securities
         eligible for resale pursuant to Rule 144A, while any of the Securities
         remain outstanding, it will make available, upon request, to any
         holder of Securities or prospective purchasers of Securities the
         information specified in Rule 144A(d)(4) for so long as such
         information is required to be furnished by Rule 144A, unless the
         Company furnishes information to the Commission pursuant to Section 13
         or 15(d) of the Exchange Act (such information, whether made available
         to holders or prospective purchasers or furnished to the Commission,
         is hereinafter referred to as "Additional Information");

          (j) until the expiration of two years after the original issuance of
         the Securities and the Guarantees, the Company and Tyco will not, and
         will cause their respective "affiliates" (as such term is defined in
         Rule 144(a)(1) under the Securities Act) not to, resell any Securities
         and Guarantees which are "restricted securities" (as such term is
         defined under Rule 144(a)(3) under the Securities Act) that have been
         reacquired by any of them and shall immediately upon any purchase of
         any such Securities and Guarantees submit such Securities and
         Guarantees to the Trustee for cancellation;

          (k)   the Company and Tyco shall take all reasonable action
         necessary to enable Standard & Poor's Corporation and Moody's Investors
         Service, Inc. to provide their respective credit ratings of the
         Securities and the Guarantees;

          (l) the Company will use all reasonable efforts in cooperation with
         the Managers to permit the Securities and the Guarantees to be
         eligible for clearance and settlement through Euroclear, Clearstream,
         Luxembourg and DTC;

                                       17

<PAGE>

          (m) each certificate for a Security to be sold under Rule 144A will
         bear the legend contained in "Notices to Investors" in the Offering
         Circular for the time period and upon the other terms stated in the
         Offering Circular;

          (n) during the period beginning on the date hereof and continuing to
         and including the Business Day following the Closing Date, not to
         offer, sell, contract to sell or otherwise dispose of any debt
         securities of or guaranteed by the Company or Tyco which are
         substantially similar to the Securities or the Guarantees without
         prior written consent of the Representatives;

          (o) the Company and Tyco shall use all reasonable efforts to procure
         the listing of the Securities and the Guarantees on the Luxembourg
         Stock Exchange and to maintain such listing until none of the
         Securities and the Guarantees are outstanding; provided, however,
         that, if it is impractical or unduly burdensome to maintain such
         listing, the Company and Tyco shall use all reasonable efforts to
         procure and maintain as aforesaid a listing of or quotation of the
         Securities and Guarantees on such other securities or stock exchange
         or exchanges as it may (with the approval of Merrill Lynch
         International and J.P. Morgan Securities Ltd.) decide; and

          (p) whether or not the transactions contemplated in this Agreement
         are consummated or this Agreement is terminated, to pay or cause to be
         paid all costs and expenses incident to the performance of its
         obligations hereunder, including without limiting the generality of
         the foregoing, all costs and expenses (i) incident to the preparation,
         issuance, execution, authentication and delivery of the Securities and
         the Guarantees, including any expenses of the Trustee, (ii) incident
         to the preparation, printing, filing and distribution of the Offering
         Circular (including all exhibits, amendments and supplements thereto),
         (iii) in connection with the listing of the Securities and the
         Guarantees on any securities or stock exchange, (iv) in connection
         with the printing (including word processing and duplication costs)
         and delivery of this Agreement, the Indenture, the Registration Rights
         Agreement and the Preliminary and Supplemental Blue Sky Memoranda and
         the furnishing to the Managers and dealers of copies of the Offering
         Circular, including mailing and shipping, as herein provided and (v)
         payable to rating agencies in connection with the rating of the
         Securities, it being understood that the Company and Tyco shall not be
         responsible for the fees and expenses of counsel to the Managers
         except as explicitly set forth herein.

                                       18

<PAGE>

           7.   The several obligations of the Managers hereunder shall be
subject to the following conditions:

          (a) the representations and warranties of the Company and Tyco
         contained herein are true and correct on and as of the Closing Date as
         if made on and as of the Closing Date and the Company and Tyco shall
         have complied with all agreements and all conditions on their part to
         be performed or satisfied hereunder at or prior to the Closing Date;

          (b) subsequent to the execution and delivery of this Agreement and
         prior to the Closing Date, there shall not have occurred any
         downgrading, nor shall any notice have been given of (i) any
         downgrading, (ii) any intended or potential downgrading or (iii) any
         review or possible change that does not indicate an improvement, in
         the rating accorded any securities of or guaranteed by the Company or
         Tyco by any "nationally recognized statistical rating organization",
         as such term is defined for purposes of Rule 436(g)(2) under the
         Securities Act;

          (c) since the respective dates as of which information is given in
         the Offering Circular there shall not have been any material change in
         the capital stock or long-term debt of Tyco or any of its
         subsidiaries, or any Material Adverse Effect otherwise than as set
         forth or contemplated in the Offering Circular, the effect of which in
         the judgment of the Representatives makes it impracticable or
         inadvisable to proceed with the public offering or the delivery of the
         Securities and the Guarantees on the terms and in the manner
         contemplated in the Offering Circular;

          (d) the Representatives shall have received on and as of the Closing
         Date a certificate of a managing director or an executive officer of
         each of the Company and Tyco with specific knowledge about each of the
         Company's and Tyco's financial matters, satisfactory to you to the
         effect set forth in subsections (a) through (c) of this Section and to
         the further effect that there has not occurred since the date of the
         Offering Circular any Material Adverse Effect;

          (e) Mark A. Belnick, Chief Corporate Counsel and Executive Vice
         President of Tyco, shall have furnished to you a written opinion,
         dated the Closing Date, in form and substance satisfactory to you, to
         the effect set forth in Exhibit A-1 hereto;

          (f) Davis Polk & Wardwell, U.S.  counsel for the Company and Tyco,
         shall have furnished to you their written opinion, dated the Closing

                                       19

<PAGE>

         Date, in form and substance satisfactory to you, to the effect set
         forth in Exhibit A-2 hereto;

          (g) Beghin & Feider (in association with Allen & Overy), Luxembourg
         counsel for the Company, shall have furnished to you their written
         opinion, dated the Closing Date, in form and substance satisfactory to
         you, to the effect set forth in Exhibit A-3 hereto;

          (h) Appleby Spurling & Kempe, Bermuda counsel for Tyco, shall have
         furnished to you their written opinion, dated the Closing Date, in
         form and substance satisfactory to you, to the effect set forth in
         Exhibit A-4 hereto;

          (i) on the date hereof and on the Closing Date,
         PricewaterhouseCoopers shall have furnished to you letters, dated such
         dates, in form and substance satisfactory to you, containing
         statements and information of the type customarily included in
         accountants "comfort letters" to the Managers with respect to the
         financial statements and certain financial information contained or
         incorporated by reference in the Offering Circular;

          (j) you shall have received on and as of the Closing Date an opinion
         of Fried, Frank, Harris, Shriver & Jacobson, U.S. counsel to the
         Managers, with respect to the validity of this Agreement, the
         Indenture, the Securities and the Guarantees, the Registration Rights
         Agreement, the Offering Circular and other related matters as the
         Representatives may reasonably request, and such counsel shall have
         received such papers and information as they may reasonably request to
         enable them to pass upon such matters;

          (k) on the Closing Date, the Securities and the Guarantees shall have
         been approved for listing on the Luxembourg Stock Exchange, subject
         only to official notice of issuance;

          (l) the Company and Tyco shall have duly authorized, executed and
         delivered the Registration Rights Agreement and the Indenture to the
         Managers in a form and substance satisfactory to the Representatives
         and counsel to the Managers; and

          (m) on or prior to the Closing Date, the Company shall have furnished
         to the Representatives such further certificates and documents as the
         Representatives shall reasonably request.

                                       20

<PAGE>

           8. (a) The Company and Tyco, jointly and severally, agree to
indemnify and hold harmless each Manager and each person, if any, who controls
any Manager within the meaning of either Section 15 of the Securities Act or
Section 20 of the Exchange Act, from and against (i) any and all losses,
claims, damages, liabilities and expenses (including, without limitation, the
reasonable legal fees and other expenses incurred in connection with any suit,
action or proceeding or any claim asserted) caused by any untrue statement or
alleged untrue statement of a material fact contained in the Preliminary
Offering Circular or the Offering Circular (as amended or supplemented if the
Company or Tyco shall have furnished any amendments or supplements thereto), or
caused by any omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not
misleading, (ii) any and all losses, claims, damages, liabilities and expenses
whatsoever, as incurred, to the extent of the aggregate amount paid in
settlement of any litigation, or any investigation or proceeding by any
governmental agency or body, commenced or threatened, or of any claim
whatsoever based upon any such untrue statement or omission, or any such
alleged untrue statement or omission; provided that any such settlement is
effected with the written consent of the Company; and (iii) any and all
expenses whatsoever, as incurred (including the fees and disbursements of
counsel chosen by Merrill Lynch International and J.P. Morgan Securities Ltd.),
reasonably incurred in investigating, preparing or defending against any
litigation, or any investigation or proceeding by any governmental agency or
body, commenced or threatened, or any claim whatsoever based upon any such
untrue statement or omission, or any such alleged untrue statement or omission,
to the extent that any such expense is not paid under clauses (i) or (ii)
above; except insofar as such losses, claims, damages, liabilities or expenses
are caused by any untrue statement or omission or alleged untrue statement or
omission made in reliance upon and in conformity with information relating to
any Manager furnished to the Company or Tyco in writing by any Manager through
Merrill Lynch International or J.P. Morgan Securities Ltd. expressly for use
therein.

          (b) Each Manager agrees, severally and not jointly, to indemnify and
hold harmless the Company, Tyco and their respective directors and officers and
each person who controls the Company or Tyco within the meaning of Section 15
of the Securities Act and Section 20 of the Exchange Act, to the same extent as
the indemnity from the Company and Tyco to each Manager set forth in clauses
(i), (ii) and (iii) of paragraph (a) of this Section 8, but only with respect
to untrue statements or omissions, or alleged untrue statements or omissions,
made in the Preliminary Offering Circular or the Offering Circular in reliance
upon and in conformity with written information furnished to the Company or
Tyco by any Manager relating to any Manager through Merrill Lynch International
or J.P. Morgan Securities Ltd. expressly for use in the Preliminary Offering
Circular or the Offering Circular, as the case may be.

                                       21

<PAGE>

         If any suit, action, proceeding (including any governmental or
regulatory investigation), claim or demand shall be brought or asserted against
any person in respect of which indemnity may be sought pursuant to either of
the two preceding paragraphs, such person (the "Indemnified Person") shall
promptly notify the person against whom such indemnity may be sought (the
"Indemnifying Person") in writing. In the case of the parties indemnified
pursuant to Section 8(a) above, counsel to the indemnified parties shall be
selected by Merrill Lynch International and J.P. Morgan Securities Ltd., and,
in the case of parties indemnified pursuant to Section 8(b) above, counsel to
the indemnified parties shall be selected by the Company. The Indemnifying
Person shall pay the fees and expenses of such counsel related to such
proceeding. In any such proceeding, any Indemnified Person shall have the right
to retain its own counsel, but the fees and expenses of such counsel shall be
at the expense of such Indemnified Person unless (i) the Indemnifying Person
and the Indemnified Person shall have mutually agreed to the contrary, (ii) the
Indemnifying Person has failed within a reasonable time to retain counsel
reasonably satisfactory to the Indemnified Person or (iii) the named parties in
any such proceeding (including any impleaded parties) include both the
Indemnifying Person and the Indemnified Person and representation of both
parties by the same counsel would be inappropriate due to actual or potential
differing interests between them. It is understood that the Indemnifying Person
shall not, in connection with any proceeding or related proceeding in the same
jurisdiction, be liable for the fees and expenses of more than one separate
firm (in addition to any local counsel) for all Indemnified Persons, and that
all such fees and expenses shall be reimbursed as they are incurred. Any such
separate firm for the Managers and such control persons of Managers shall be
designated in writing by Merrill Lynch International and J.P. Morgan Securities
Ltd. and any such separate firm for the Company, Tyco and their respective
directors and officers and such control persons of the Company and Tyco shall
be designated in writing by the Company and Tyco. The Indemnifying Person shall
not be liable for any settlement of any proceeding effected without its written
consent, but if settled with such consent or if there be a final judgment for
the plaintiff, the Indemnifying Person agrees to indemnify any Indemnified
Person from and against any loss or liability by reason of such settlement or
judgment. Notwithstanding the foregoing sentence, if at any time an Indemnified
Person shall have requested an Indemnifying Person to reimburse the Indemnified
Person for fees and expenses of counsel as contemplated by the third sentence
of this paragraph, the Indemnifying Person agrees that it shall be liable for
any settlement of any proceeding effected without its written consent if (i)
such settlement is entered into more than 45 days after receipt by such
Indemnifying Person of the aforesaid request and (ii) such Indemnifying Person
shall not have reimbursed the Indemnified Person in accordance with such
request prior to the date of such settlement unless the Indemnifying Person in
good faith shall be contesting the

                                       22

<PAGE>

reasonableness of such fees and expenses (but only to the extent so contested)
or the entitlement of the Indemnified Person to indemnification under the terms
of this Section 8. No Indemnifying Person shall, without the prior written
consent of the Indemnified Person, effect any settlement of any pending or
threatened proceeding in respect of which any Indemnified Person is or could
have been a party and indemnity could have been sought hereunder by such
Indemnified Person, unless such settlement includes an unconditional release of
such Indemnified Person from all liability on claims that are the subject
matter of such proceeding.

         If the indemnification provided for in the first and second paragraphs
of this Section 8 is unavailable to an Indemnified Person or insufficient in
respect of any losses, claims, damages, liabilities or expenses referred to
therein, then each Indemnifying Person under such paragraph, in lieu of
indemnifying such Indemnified Person thereunder, shall contribute to the amount
paid or payable by such Indemnified Person 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 and Tyco on the one hand and the
Managers on the other hand from the offering of the Securities or (ii) if the
allocation provided by clause (i) above is not permitted by applicable law, in
such proportion as is appropriate to reflect not only the relative benefits
referred to in clause (i) above but also the relative fault of the Company and
Tyco on the one hand and the Managers on the other hand in connection with the
statements or omissions that resulted in such losses, claims, damages,
liabilities or expenses, as well as any other relevant equitable
considerations. The relative benefits received by the Company and Tyco on the
one hand and the Managers on the other hand shall be deemed to be in the same
respective proportions as the net proceeds from the offering of such Securities
and Guarantees (net of underwriting discounts and commissions but before
deducting expenses) received by the Company and Tyco and the total underwriting
discounts and the commissions received by the Managers bear to the aggregate
public offering price of the Securities and Guarantees. The relative fault of
the Company and Tyco on the one hand and the Managers 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 and Tyco
or by the Managers and the parties' relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission.

         The Company, Tyco and the Managers agree that it would not be just and
equitable if contribution pursuant to this Section 8 were determined by pro
rata allocation (even if the Managers were treated as one entity for such
purpose) or by any other method of allocation that does not take account of the
equitable considerations referred to in the immediately preceding paragraph.
The amount

                                       23

<PAGE>

paid or payable by an Indemnified Person 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 Person in
connection with investigating or defending any such action or claim.
Notwithstanding the provisions of this Section 8, in no event shall a Manager
be required to contribute any amount in excess of the amount by which the total
price at which the Securities purchased by it exceeds the amount of any damages
that such Manager has otherwise been required to pay by reason of such untrue
or alleged untrue statement or omission or alleged omission. No person guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation. The Managers' obligations to
contribute pursuant to this Section 8 are several in proportion to the
respective principal amount of the Securities set forth opposite their names in
Schedule II hereto, and not joint.

         The remedies provided for in this Section 8 are not exclusive and
shall not limit any rights or remedies which may otherwise be available to any
indemnified party at law or in equity.

         The indemnity and contribution agreements contained in this Section 8
and the representations and warranties of the Company and Tyco set forth in
this Agreement shall remain operative and in full force and effect regardless
of (i) any termination of this Agreement, (ii) any investigation made by or on
behalf of any Manager or any person controlling any Manager or by or on behalf
of the Company, Tyco, their respective officers or directors or any other
person controlling the Company or Tyco and (iii) acceptance of and payment for
any of the Securities and the Guarantees.

           9. Notwithstanding anything herein contained, this Agreement may be
terminated in the absolute discretion of the Representatives, by notice given
to the Company or Tyco, if after the execution and delivery of this Agreement
and prior to the Closing Date (i) trading generally shall have been suspended
or materially limited on or by, as the case may be, any of the Luxembourg Stock
Exchange, the New York Stock Exchange, the American Stock Exchange, the Nasdaq
National Market System, the Chicago Board Options Exchange, the Chicago
Mercantile Exchange or the Chicago Board of Trade or (ii) trading of any
securities of or guaranteed by the Company or Tyco shall have been suspended on
any exchange or in any over-the-counter market or (iii) a general moratorium on
commercial banking activities in London shall have been declared by appropriate
authorities or a general moratorium on commercial banking activities in New
York shall have been declared by either Federal or New York State authorities
or (iv) there shall have occurred any outbreak or escalation of hostilities or
any change in financial

                                       24

<PAGE>

markets or any calamity or crisis that, in the judgment of the Representatives,
is material and adverse and which, in the judgment of the Representatives,
makes it impracticable to market the Securities on the terms and in the manner
contemplated in the Offering Circular or (v) the occurrence of any material
adverse change in the existing financial, political or economic conditions or
currency exchange rates or exchange controls in the United States, Luxembourg,
Bermuda or elsewhere which, in the judgment of the Representatives would
materially and adversely affect the financial markets or the success of the
offering, sale and distribution of the Securities and Guarantees or dealings in
the Securities and Guarantees in the secondary market or the market for the
Company's and Tyco's other debt securities.

         If this Agreement is terminated, such termination shall be without
liability of any party to any other party except as provided in Section 11
hereof, and provided further that Sections 4 and 8 shall survive such
termination and remain in full force and effect.

          10. If, on the Closing Date, any one or more of the Managers shall
fail or refuse to purchase Securities which it or they have agreed to purchase
under this Agreement, and the aggregate principal amount of Securities which
such defaulting Manager or Managers agreed but failed or refused to purchase is
not more than one-tenth of the aggregate principal amount of the Securities,
the other Managers shall be obligated severally in the proportions that the
principal amount of Securities set forth opposite their respective names in
Schedule II hereto bears to the aggregate principal amount of Securities set
forth opposite the names of all such non-defaulting Managers, or in such other
proportions as the Representatives may specify, to purchase the Securities
which such defaulting Manager or Managers agreed but failed or refused to
purchase on such date; provided that in no event shall the principal amount of
Securities that any Manager has agreed to purchase pursuant to Section 1 be
increased pursuant to this Section 9 by an amount in excess of one-tenth of
such principal amount of Securities without the written consent of such
Manager. If, on the Closing Date, any Manager or Managers shall fail or refuse
to purchase Securities and the aggregate principal amount of Securities with
respect to which such default occurs is more than one- tenth of the aggregate
principal amount of Securities to be purchased, and arrangements satisfactory
to you, the Company and Tyco for the purchase of such Securities are not made
within 36 hours after such default, this Agreement shall terminate without
liability on the part of any non-defaulting Manager, the Company or Tyco. In
any such case either you or the Company shall have the right to postpone the
Closing Date, but in no event for longer than seven days, in order that the
required changes, if any, in the Offering Circular or in any other documents or
arrangements may be effected. Any action taken under this

                                       25

<PAGE>

paragraph shall not relieve any defaulting Manager from liability in respect of
any default of such Manager under this Agreement.

          11. If this Agreement shall be terminated by the Managers, or any of
them pursuant to Section 9 or because of any failure or refusal on the part of
the Company or Tyco to comply with the terms or to fulfill any of the
conditions of this Agreement, or if for any reason the Company or Tyco shall be
unable to perform its obligations under this Agreement or any condition of the
Managers' obligations cannot be fulfilled, the Company and Tyco agree to
reimburse the Managers or such Managers as have so terminated this Agreement
with respect to themselves, severally, for all out-of-pocket expenses
(including the fees and expenses of their counsel) reasonably incurred by such
Managers in connection with this Agreement or the offering of the Securities
and the Guarantees.

          12. This Agreement shall inure to the benefit of and be binding upon
the Company, Tyco, the Managers and any Indemnified Persons referred to herein
and their respective successors and assigns. Nothing expressed or mentioned in
this Agreement is intended or shall be construed to give any other person, firm
or corporation any legal or equitable right, remedy or claim under or in
respect of this Agreement or any provision herein contained. No purchaser of
Securities from any Manager shall be deemed to be a successor or assign by
reason merely of such purchase.

          13. Any action by the Managers hereunder may be taken by you jointly
or by Merrill Lynch International or J.P. Morgan Securities Ltd. alone on
behalf of the Managers, and any such action taken by you jointly or by Merrill
Lynch International or J.P. Morgan Securities Ltd. alone shall be binding upon
the Managers. All notices and other communications hereunder shall be in
writing and shall be deemed to have been duly given if mailed or transmitted by
any standard form of telecommunication. Notices to the Managers shall be given
at the address set forth in Schedule I hereto. Notices to the Company and Tyco
shall be given to them, if to the Company, at 6, Avenue Emile Reuter, 2nd
Floor, L- 2420, Luxembourg, facsimile (352) 464-350, Attention: the Managing
Directors; if to Tyco, at The Zurich Centre, Second Floor, 90 Pitts Bay Road,
Pembroke HM 08, Bermuda, facsimile (441) 295-9647, Attention: Secretary, with a
copy in either case c/o Tyco International (US), Inc., 9 West 57th Street, 43rd
Floor, New York, New York 10019, facsimile (646) 282-8553/4; Attention: Chief
Corporate Counsel.

          14. Each of the Company and Tyco (i) agrees that any legal suit,
action or proceeding brought by any party to enforce any rights under or with
respect to this Agreement or any other document or the transactions
contemplated hereby or thereby may be instituted in any state or federal court
in The City of New York,

                                       26

<PAGE>

State of New York, U.S.A., (ii) irrevocably waives to the fullest extent
permitted by law any objection which it may now or hereafter have to the laying
of venue of any such suit, action or proceeding, (iii) irrevocably waives to
the fullest extent permitted by law any claim that and agrees not to claim or
plead in any court that any such action, suit or proceeding brought in such
court has been brought in an inconvenient forum and (iv) irrevocably submits to
the non-exclusive jurisdiction of any such court in any such suit, action or
proceeding or for recognition and enforcement of any judgment in respect
thereof.

         Each of the Company and Tyco hereby irrevocably and unconditionally
designates and appoints CT Corporation System, 111 Eighth Avenue, 13th Floor,
New York, New York 10011, U.S.A. (and any successor entity), as its authorized
agent to receive and forward on its behalf service of any and all process which
may be served in any such suit, action or proceeding in any such court and
agrees that service of process upon CT Corporation shall be deemed in every
respect effective service of process upon it in any such suit, action or
proceeding and shall be taken and held to be valid personal service upon it.
Said designation and appointment shall be irrevocable. Nothing in this Section
13 shall affect the right of the Managers, their affiliates or any indemnified
party to serve process in any manner permitted by law or limit the right of the
Managers, their affiliates or any indemnified party to bring proceedings
against the Company or Tyco in the courts of any jurisdiction or jurisdictions.
Each of the Company and Tyco further agrees to take any and all action,
including the execution and filing of any and all such documents and
instruments, as may be necessary to continue such designation and appointment
of CT Corporation in full force and effect so long as the Securities and the
Guarantees are outstanding but in no event for a period longer than eight years
from the date of this Agreement. Each of the Company and Tyco hereby
irrevocably and unconditionally authorizes and directs CT Corporation to accept
such service on its behalf. If for any reason CT Corporation ceases to be
available to act as such, each of the Company and Tyco agrees to designate a
new agent in New York City on the terms and for the purposes of this provision
reasonably satisfactory to the Managers.

         To the extent that either the Company or Tyco has or hereafter may
acquire any immunity from jurisdiction of any court (including, without
limitation, any court in the United States, the State of New York, Luxembourg,
Bermuda or any political subdivision thereof) or from any legal process
(whether through service of notice, attachment prior to judgment, attachment in
aid of execution, execution or otherwise) with respect to itself or its
property or assets, this Agreement, or any other documents or actions to
enforce judgments in respect of any thereof, it hereby irrevocably waives such
immunity, and any defense based on such immunity, in respect of its obligations
under the above-referenced

                                       27

<PAGE>

documents and the transactions contemplated thereby, to the extent permitted by
law.

          15. If pursuant to a judgment or order being made or registered
against the Company or Tyco, any payment under or in connection with this
Agreement to a Manager is made or satisfied in a currency (the "Judgment
Currency") other than in euro then, to the extent that the payment (when
converted into euro at the rate of exchange on the date of payment or, if it is
not practicable for such Manager to purchase euro with the Judgment Currency on
the date of payment, at the rate of exchange as soon thereafter as it is
practicable for it to do so) actually received by such Manager falls short of
the amount due under the terms of this Agreement, the Company or Tyco shall, to
the extent permitted by law, as a separate and independent obligation,
indemnify and hold harmless such Manager against the amount of such shortfall
and such indemnity shall continue in full force and effect notwithstanding any
such judgment or order as aforesaid. For the purpose of this Section, "rate of
exchange" means the rate at which the Manager is able on the relevant date to
purchase euro with the Judgment Currency and shall take into account any
premium and other costs of exchange.

          16. This Agreement may be signed in counterparts, each of which shall
be an original and all of which together shall constitute one and the same
instrument. This Agreement shall be governed by and construed in accordance
with the laws of the State of New York, without giving effect to the conflicts
of laws provisions thereof.

                                           Very truly yours,

                                           TYCO INTERNATIONAL GROUP S.A.

                                            By:  /s/ Richard W. Brann
                                                -------------------------------
                                                Name:  Richard W. Brann
                                                Title:  Managing Director

                                            TYCO INTERNATIONAL LTD.

                                            By:  /s/ Mark H. Swartz
                                                 -----------------------
                                                 Name:  Mark H. Swartz
                                                 Title: Executive Vice President
                                                         Chief Financial Officer

                                       28

<PAGE>

Accepted: March 30, 2000

CONFIRMED AND ACCEPTED,

MERRILL LYNCH INTERNATIONAL
J.P. MORGAN SECURITIES LTD.
BANCA D'INTERMEDIAZIONE MOBILIARE IMI SPA
BANQUE NATIONALE DE PARIS
BARCLAYS BANK PLC
BAYERISCHE HYPO- UND VEREINSBANK AG
COMMERZBANK AKTIENGESELLSCHAFT
CREDIT LYONNAIS
CREDIT SUISSE FIRST BOSTON (EUROPE) LIMITED
DEUTSCHE BANK AKTIENGESELLSCHAFT
DRESDNER BANK AG LONDON BRANCH
HSBC BANK PLC
WESTDEUTSCHE LANDESBANK GIROZENTRALE

By:  MERRILL LYNCH INTERNATIONAL

By      /s/
  -----------------------------------
         Authorized Signatory

By:  J.P.  MORGAN SECURITIES LTD.

By       /s/
  ------------------------------------
         Authorized Signatory

For themselves and the other Managers named in Schedule II hereto.

                                       29

<PAGE>

                                           SCHEDULE I

Representatives:                   Merrill Lynch International
                                   J.P. Morgan Securities Ltd.
                                   ABN AMRO Bank N.V.
                                   Banca d'Intermediazione Mobiliare IMI
                                   Spa Banque Nationale de Paris
                                   Barclays Bank PLC
                                   Bayerische Hypo- und Vereinsbank AG
                                   Commerzbank Aktiengesellschaft
                                   Credit Lyonnais
                                   Credit Suisse First Boston (Europe)
                                   Limited
                                   Deutsche Bank Aktiengesellschaft
                                   Dresdner Bank AG London Branch
                                   HSBC Bank plc
                                   Westdeutsche Landesbank Girozentrale

Purchase Agreement Dated:          March 30, 2000

Title of Securities:               6.125% Notes Due 2007 (the "Notes")

Aggregate Principal Amount:        (U)600,000,000

Purchase Price:                    99.032%

Price to Public:                   99.432%

Indenture:                         Indenture, dated as of June 9, 1998, as
                                   supplemented by Supplemental Indenture
                                   No. 13 thereto, dated as of April 4, 2000,
                                   among Tyco International Group S.A.,
                                   Tyco International Ltd. and The Bank of
                                   New York, as trustee.

Maturity:                          April 4, 2007

First Interest Payment Date:       April 4, 2001

Interest Rate:                     6.125%

Interest Payment Dates:            April 4 of each year until maturity

                                       30

<PAGE>

Redemption Provisions:             Optional Redemption.  The Notes may be
                                   redeemed, as a whole but not in part, at the
                                   election of the Company, at any time upon
                                   not less than 30 nor more than 60 days'
                                   notice (which notice shall be irrevocable) at
                                   a redemption price equal to the greater of
                                   (i) 100% of the principal amount of such
                                   Notes or (ii) as determined by the
                                   Reference Dealer, (A) the sum of the
                                   present values of the remaining scheduled
                                   payments of principal and interest thereon
                                   (not including any portion of such
                                   payments of interest accrued as of the date
                                   of redemption) discounted to the
                                   redemption date on an annual basis (based
                                   on the actual number of days elapsed
                                   divided by 365 (or, if any of those days
                                   elapsed fall in a leap year, the sum of (x)
                                   the number of those days falling in a leap
                                   year divided by 366 and (y) the number of
                                   those days falling in a non-leap year
                                   divided by 365)) at the Reference Dealer
                                   Rate, plus 10 basis points, plus (B) in each
                                   case, accrued interest thereon to the date of
                                   redemption.

                                   "Reference Dealer" means either of Merrill
                                   Lynch International or J.P. Morgan
                                   Securities Ltd. or their respective
                                   successors.

                                   "Reference Dealer Rate" means with respect
                                   to the Reference Dealer and any redemption
                                   date, the midmarket annual yield to
                                   maturity, as determined by the Reference
                                   Dealer, of the German Government Bund 6.00%
                                   due January 2007 or, if that security is no
                                   longer outstanding, a similar security in
                                   the reasonable judgment of the Reference
                                   Dealer, at 11:00 a.m. (London time) on the
                                   fifth business day in London preceding such
                                   redemption

                                     31

<PAGE>

                                   date quoted in writing to the trustee by such
                                   Reference Dealer.

                                   Redemption Upon Changes In Withholding
                                   Taxes. The Notes may be redeemed, as a whole
                                   but not in part, at the election of the
                                   Company, upon not less than 30 nor more than
                                   60 days' notice (which notice shall be
                                   irrevocable), at a redemption price equal to
                                   100% of the principal amount thereof,
                                   together with accrued interest, if any, to
                                   the redemption date and Additional Amounts
                                   (as defined in Section 12.2), if any, if as
                                   a result of any amendment to, or change in,
                                   the laws or regulations of Luxembourg or
                                   Bermuda or any political subdivision or
                                   taxing authority thereof or therein having
                                   power to tax (a "Taxing Authority"), or any
                                   change in the application or official
                                   interpretation of such laws or regulations
                                   which amendment or change is announced and
                                   becomes effective after the date the Notes
                                   are issued, the Company or Tyco has become
                                   or will become obligated to pay Additional
                                   Amounts, on the next date on which any
                                   amount would be payable with respect to the
                                   Notes, and such obligation cannot be avoided
                                   by the use of reasonable measures available
                                   to the Company or Tyco, as the case may be;
                                   provided, however, that (a) no such notice
                                   of redemption may be given earlier than 60
                                   days prior to the earliest date on which the
                                   Company or Tyco, as the case may be, would
                                   be obligated to pay such Additional Amounts,
                                   and (b) at the time such notice of
                                   redemption is given, such obligation to pay
                                   such Additional Amounts remains in effect.

Sinking Fund Provisions:           None

Other Provisions:                  None

                                       32

<PAGE>

Closing Date and Time of Delivery: April 4, 2000

Closing Location:                  London, England

Address for Notices to
Managers:                          Merrill Lynch International
                                   25 Ropemaker Place
                                   London EC2Y 9LY, England
                                   Facsimile:  44-171-867-4488
                                   Attention:  Head of Transaction
                                                 Management Group

                                   J.P. Morgan Securities Ltd.
                                   60 Victoria Embankment
                                   London EC4Y OJP, England
                                   Facsimile:  44-020-7325-8240
                                   Attention:  Head of Debt Syndicate,
                                                 Resident Counsel,
                                               Head of Transaction Execution
                                                  Group

                                       33

<PAGE>

                                           SCHEDULE II

6.125% NOTES DUE 2007:

                                                        Principal Amount of
                          Manager                    Securities To Be Purchased
Merrill Lynch International......................          (U)246,000,000
J.P. Morgan Securities Ltd.......................             246,000,000
ABN AMRO Bank N.V................................               9,000,000
Banca d'Intermediazione Mobiliare IMI Spa........               9,000,000
Banque Nationale de Paris........................               9,000,000
Barclays Bank PLC................................               9,000,000
Bayerische Hypo- und Vereinsbank AG..............               9,000,000
Commerzbank Aktiengesellschaft...................               9,000,000
Credit Lyonnais..................................               9,000,000
Credit Suisse First Boston (Europe) Limited......               9,000,000
Deutsche Bank Aktiengesellschaft.................               9,000,000
Dresdner Bank AG London Branch                                  9,000,000
HSBC Bank plc....................................               9,000,000
Westdeutsche Landesbank Girozentrale.............               9,000,000
        Total....................................          (U)600,000,000

                                       34Exhibit 4.4

                          REGISTRATION RIGHTS AGREEMENT

           This Registration Rights Agreement (the "Agreement") is made and
entered into this 4th day of April, 2000 among Tyco International Group S.A., a
Luxembourg company (the "Company"), Tyco International Ltd., a Bermuda
company (the "Guarantor") and Merrill Lynch International ("Merrill Lynch"),
J.P. Morgan Securities Ltd.  ("J.P. Morgan"), ABN AMRO Bank N.V., Banca
d'Intermediazione Mobiliare IMI Spa, Banque Nationale de Paris, Barclays Bank
PLC, Bayerische Hypo- und Vereinsbank AG, Commerzbank Aktiengesellschaft,
Credit Lyonnais, Credit Suisse First Boston (Europe) Limited, Deutsche Bank
Aktiengesellschaft, Dresdner Bank AG London Branch, HSBC Bank plc and
Westdeutsche Landesbank Girozentrale (collectively, the "Managers").

           This Agreement is made pursuant to the Purchase Agreement, dated
March 30, 2000, among the Company, the Guarantor and the Managers (the "Purchase
Agreement"), which provides for the sale by the Company to the Managers of an
aggregate of Euro 600,000,000 principal amount of 6-1/8% Notes due 2007 and
related guarantees of the Securities issued by the Guarantor (collectively, the
"Securities"). In order to induce the Managers to enter into the Purchase
Agreement, the Company and the Guarantor have agreed to provide to the Managers
and their direct and indirect transferees the registration rights set forth in
this Agreement. The execution 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:

           "1933 Act" shall mean the United States Securities Act of 1933, as
amended from time to time.

           "1934 Act" shall mean the United States Securities Exchange Act of
1934, as amended from time to time.

           "Closing Date" shall mean the Closing Date as defined in the Purchase
Agreement.

<PAGE>

           "Company" shall have the meaning set forth in the preamble and shall
also include the Company's successors.

           "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, in the City of New York.

           "Exchange Offer" shall mean the exchange offer by the Company and the
Guarantor of Exchange Securities (and related Guarantees) for Registrable
Securities pursuant to Section 2.1 hereof.

           "Exchange Offer Registration" shall mean a registration under the
1933 Act effected pursuant to Section 2.1 hereof.

           "Exchange Offer Registration Statement" shall mean an exchange offer
registration statement on Form S-4 (or, if applicable, on another appropriate
form or any successor form used for substantially the same transaction), and all
amendments and supplements to such registration statement, 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 2.1
hereof.

           "Exchange Securities" shall mean collectively, the 6-1/8% Notes due
2007 Series B, issued by the Company and the related guarantees of the 6-1/8%
Notes due 2007 Series B issued by the Guarantor, containing terms identical to
the Securities in all material respects (except for references to certain
interest rate provisions, restrictions on transfers and restrictive legends), to
be offered to Holders of Securities in exchange for Registrable Securities
pursuant to the Exchange Offer.

           "Holder" shall mean a Manager, for so long as it owns any Registrable
Securities, and each of its successors, assigns and direct and indirect
transferees who become registered owners of Registrable Securities under the
Indenture and each Participating Broker-Dealer that holds Exchange Securities
for so long as such Participating Broker-Dealer is required to deliver a
prospectus meeting the requirements of the 1933 Act in connection with any
resale of such Exchange Securities.

           "Indenture" shall mean the Indenture relating to the Securities and
the Exchange Securities, dated as of June 9, 1998, as supplemented by
Supplemental Indenture No. 13, dated as of April 4, 2000, in each case among the
Company, the Guarantor and The Bank of New York, as trustee, as the same may be
amended,

                                        2

<PAGE>

supplemented, waived or otherwise modified from time to time in accordance with
the terms thereof.

           "Majority Holders" shall mean the Holders of a majority of the
aggregate principal amount of Outstanding (as defined in the Indenture)
Registrable Securities or each series of Registrable Securities as the case may
be; provided that whenever the consent or approval of Holders of a specified
percentage of Registrable Securities is required hereunder, Registrable
Securities held by the Company, the Guarantor and other obligors on the
Securities or the Guarantees or any Affiliate (as defined in the Indenture) of
the Company or the Guarantor shall be disregarded in determining whether such
consent or approval was given by the Holders of such required percentage amount;
provided further that, when used in connection with the Shelf Registration
Statement, the term Majority Holders shall mean the Holders of a majority of the
aggregate principal amount of all series of Registrable Securities participating
therein or whose securities are being sold thereunder in the particular case, as
applicable.

           "Manager" or "Managers" shall have the meaning set forth in the
preamble.

           "Participating Broker-Dealer" shall mean any of Merrill Lynch
International, J.P. Morgan Securities Ltd., ABN AMRO Bank N.V., Banca
d'Intermediazione Mobiliare IMI Spa, Banque Nationale de Paris, Barclays Bank
PLC, Bayerische Hypo- und Vereinsbank AG, Commerzbank Aktiengesellschaft, Credit
Lyonnais, Credit Suisse First Boston (Europe) Limited, Deutsche Bank
Aktiengesellschaft, Dresdner Bank AG London Branch, HSBC Bank plc, Westdeutsche
Landesbank Girozentrale and any other broker-dealer which makes a market in the
Securities and Guarantees and exchanges Registrable Securities in the Exchange
Offer for Exchange Securities.

           "Person" shall mean an individual, partnership (general or limited),
corporation, limited liability company, trust or unincorporated organization, or
a government or agency or political subdivision thereof.

           "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 any such
prospectus supplement with respect to the terms of the offering of any portion
of the Registrable Securities 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 material incorporated by reference
therein.

                                        3

<PAGE>

           "Purchase Agreement" shall have the meaning set forth in the
preamble.

           "Registrable Securities" shall mean, collectively, the Securities and
the Guarantees; provided, however, that Securities and Guarantees shall cease to
be Registrable Securities when (i) a Registration Statement with respect to such
Securities and Guarantees shall have been declared effective under the 1933 Act
and such Securities and Guarantees shall have been disposed of pursuant to such
Registration Statement, (ii) such Securities and Guarantees have been sold to
the public pursuant to Rule 144 (or any similar provision then in force, but not
Rule 144A) under the 1933 Act, (iii) such Securities and Guarantees shall have
ceased to be outstanding or (iv) the Exchange Offer is consummated (except in
the case of Securities and Guarantees purchased from the Company and the
Guarantors and continued to be held by the Managers or Securities which may not
be exchanged in the Exchange Offer).

           "Registration Expenses" shall mean any and all expenses incident to
performance of or compliance by the Company and the Guarantor with this
Agreement, including without limitation: (i) all SEC, stock exchange or National
Association of Securities Dealers, Inc. (the "NASD") registration and filing
fees, including, if applicable, the fees and expenses of any "qualified
independent underwriter" (and the reasonable fees and expenses of its counsel)
that is required to be retained by any holder of Registrable Securities in
accordance with the rules and regulations of the NASD, (ii) all fees and
expenses incurred in connection with compliance with state securities or blue
sky laws and compliance with the rules of the NASD (including reasonable fees
and disbursements of counsel for any underwriters or Holders in connection with
blue sky qualification of any of the Exchange Securities or Registrable
Securities and any filings with the NASD), (iii) all expenses of any Persons in
preparing or assisting in preparing, word processing, printing and distributing
any Registration Statement, any Prospectus, any amendments or supplements
thereto, any underwriting agreements, securities sales agreements and other
documents relating to the performance of and compliance with this Agreement,
(iv) all fees and expenses incurred in connection with the listing, if any, of
any of the Registrable Securities on any securities exchange or exchanges, (v)
all rating agency fees, (vi) the fees and disbursements of counsel for the
Company and the Guarantor and of the independent public accountants of the
Company and the Guarantor, including the expenses of any special audits or "cold
comfort" letters required by or incident to such performance and compliance,
(vii) the fees and expenses of the Trustee, and any escrow agent or custodian,
(viii) the reasonable fees and expenses of the Managers in connection with the
Exchange Offer, including the reasonable fees and expenses of one counsel to the
Managers in connection therewith, (ix) the reasonable fees and disbursements of
one special counsel representing the Holders of Registrable Securities in
connection with the Shelf Registration Statement and

                                        4

<PAGE>

(x) any fees and disbursements of the underwriters customarily required to be
paid by issuers or sellers of securities and the fees and expenses of any
special experts retained by the Company and the Guarantor in connection with any
Registration Statement, but excluding underwriting discounts and commissions and
transfer taxes, if any, relating to the sale or disposition of Registrable
Securities by a Holder.

           "Registration Statement" shall mean any registration statement of the
Company and the Guarantor which covers any of the Exchange Securities or
Registrable Securities 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 material incorporated by reference therein.

           "SEC" shall mean the United States Securities and Exchange Commission
or any successor agency or government body performing the functions currently
performed by the United States Securities and Exchange Commission.

           "Shelf Registration" shall mean a registration effected pursuant to
Section 2.2 hereof.

           "Shelf Registration Statement" shall mean a "shelf" registration
statement of the Company and the Guarantor pursuant to the provisions of Section
2.2 of this Agreement which covers all of the Registrable Securities on an
appropriate form under Rule 415 under the 1933 Act, or any successor or 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
material incorporated by reference therein.

           "Trustee" shall mean the trustee with respect to the Securities and
the Guarantees under the Indenture.

           2. Registration Under the 1933 Act.

           2.1 Exchange Offer. The Company and the Guarantor shall, for the
benefit of the Holders, at the Company's and the Guarantor's cost, use their
reasonable best efforts to (A) prepare and, as soon as practicable but not later
than 150 days following the Closing Date, file with the SEC an Exchange Offer
Registration Statement on an appropriate form under the 1933 Act with respect to
a proposed Exchange Offer and the issuance and delivery to the Holders, in
exchange for the Registrable Securities, of a like principal amount of Exchange
Securities, (B) to cause the Exchange Offer Registration Statement to be
declared

                                        5

<PAGE>

effective under the 1933 Act within 180 days of the Closing Date, (C) keep the
Exchange Offer Registration Statement effective until the closing of the
Exchange Offer and (D) cause the Exchange Offer to be consummated not later than
210 days following the Closing Date. The Exchange Securities will be issued
under the Indenture. Upon the effectiveness of the Exchange Offer Registration
Statement, the Company and the Guarantor shall promptly commence the Exchange
Offer, it being the objective of such Exchange Offer to enable each Holder
eligible and electing to exchange Registrable Securities for Exchange Securities
to transfer such Exchange Securities from and after their receipt without any
limitations or restrictions under the 1933 Act and under state securities or
blue sky laws.

           Each Holder participating in the Exchange Offer shall be required, as
a condition to such participation, to represent in writing to the Company that,
at the time of the consummation of the Exchange Offer, such Holder (a) is not an
affiliate of the Company within the meaning of Rule 405 under the 1933 Act, (b)
is not a broker-dealer tendering Registrable Securities acquired directly from
the Company for its own account, (c) acquired or will acquire the Exchange
Securities in the ordinary course of such Holder's business and (d) has no
arrangements or understandings with any Person to participate in the Exchange
Offer for the purpose of distributing the Exchange Securities.

           In connection with the Exchange Offer, the Company and the Guarantor
shall:

           (a) mail as promptly as practicable 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;

           (b) keep the Exchange Offer open for acceptance for a period of not
less than 30 calendar days after the date notice thereof is mailed to the
Holders (or longer if required by applicable law) (such period referred to
herein as the "Exchange Period");

           (c) utilize the services of the Depositary for the Exchange Offer;

           (d) permit Holders to withdraw tendered Registrable Securities at any
time prior to 5:00 p.m. (Eastern Standard Time), on the last business day of the
Exchange Period, by sending to the institution specified in the notice, a
telegram, telex, facsimile transmission or letter setting forth the name of such
Holder, the principal amount of Registrable Securities delivered for exchange,
and a statement that such Holder is withdrawing such Holder's election to have
such Securities and Guarantees exchanged;

                                        6

<PAGE>

           (e) notify each Holder that any Registrable Security not tendered
will remain outstanding and continue to accrue interest, but will not retain any
rights under this Agreement (except in the case of the Managers and
Participating Broker-Dealers as provided herein); and

           (f) otherwise comply in all respects with all applicable laws
relating to the Exchange Offer.

           The Exchange Securities shall be issued under (i) the Indenture or
(ii) an indenture identical in all material respects to the Indenture and which,
in either case, has been qualified under the Trust Indenture Act of 1939, as
amended (the "TIA"), or is exempt from such qualification and shall provide that
the Exchange Securities shall not be subject to the transfer restrictions set
forth in the Indenture. The Indenture or such indenture shall provide that the
Exchange Securities and the Securities having the same interest rate and
maturity (and related Guarantees) shall vote and consent together on all matters
as one class and that none of the Exchange Securities or the Securities having
the same interest rate and maturity (and related Guarantees) will have the right
to vote or consent as a separate class on any matter.

           As soon as practicable after the close of the Exchange Offer the
Company and the Guarantor shall:

               (i) accept for exchange all Registrable Securities duly tendered
          and not validly withdrawn pursuant to the Exchange Offer in accordance
          with the terms of the Exchange Offer Registration Statement and the
          letter of transmittal which shall be an exhibit thereto;

               (ii) deliver, or cause to be delivered to the Trustee for
          cancellation all Registrable Securities so accepted for exchange; and

               (iii) cause the Trustee promptly to authenticate and deliver
          Exchange Securities to each Holder of Registrable Securities so
          accepted for exchange in a principal amount equal to the principal
          amount of the Registrable Securities of such Holder so accepted for
          exchange.

           Interest on each Exchange Security will accrue from the last date on
which interest was paid on the Registrable Securities surrendered in exchange
therefor or, if no interest has been paid on the Registrable Securities, from
the date of original issuance. The Exchange Offer shall not be subject to any
conditions,

                                        7

<PAGE>

other than (i) that the Exchange Offer or the making of any exchange by a
Holder, does not violate applicable law or any applicable interpretation of the
staff of the SEC, (ii) the due tendering of Registrable Securities in accordance
with the Exchange Offer, (iii) that each Holder of Registrable Securities
exchanged in the Exchange Offer shall have made the representations set forth
above in this Section 2.1 and shall have made such other representations as may
be reasonably necessary under applicable SEC rules, regulations or
interpretations to render the use of Form S-4 or other appropriate form under
the 1933 Act available and (iv) that no action or proceeding shall have been
instituted or threatened in any court or by or before any governmental agency
with respect to the Exchange Offer which, in the Company's and the Guarantor's
judgment, would reasonably be expected to impair the ability of the Company and
the Guarantor to proceed with the Exchange Offer. The Company and the Guarantor
shall inform the Managers of the names and addresses of the Holders to whom the
Exchange Offer is made, and the Managers shall have the right to contact such
Holders and otherwise facilitate the tender of Registrable Securities in the
Exchange Offer.

           2.2 Shelf Registration. (i) If, because of any changes in law, SEC
rules or regulations or applicable interpretations thereof by the staff of the
SEC, the Company and the Guarantor are not permitted to effect the Exchange
Offer as contemplated by Section 2.1 hereof, (ii) if for any other reason the
Exchange Offer Registration Statement is not declared effective within 180 days
following the original issue of the Registrable Securities or the Exchange Offer
is not consummated within 210 days after the original issue of the Registrable
Securities, (iii) upon the request of any of the Managers with respect to
Registrable Securities that are not eligible to be exchanged for Exchange Notes
in the Exchange Offer or the Managers do not receive freely tradeable Exchange
Securities in the Exchange Offer or (iv) if a Holder known or identified in
writing to the Company (other than a Manager) is not permitted by applicable law
to participate in the Exchange Offer or elects to participate in the Exchange
Offer but does not receive fully tradeable Exchange Securities pursuant to the
Exchange Offer, then in case of each of clauses (i) through (iv) the Company and
the Guarantor shall, at their cost:

           (a) As promptly as practicable, file with the SEC, and thereafter
shall use their reasonable best efforts to cause to be declared effective within
210 days after the original issue of the Registrable Securities, a Shelf
Registration Statement relating to the offer and sale of the Registrable
Securities by the Holders from time to time in accordance with the methods of
distribution elected by the Majority Holders participating in the Shelf
Registration and set forth in such Shelf Registration Statement; provided,
however, that no Holder shall be entitled to have Registrable Securities held by
it included in the Shelf Registration Statement unless such Holder agrees in
writing to be bound by all of the

                                        8

<PAGE>

provisions of this Agreement applicable to such Holder and furnishes to the
Company in writing such information as the Company may reasonably request for
inclusion in the Shelf Registration Statement or any Prospectus included
therein.

           (b) Use their reasonable best efforts to keep the Shelf Registration
Statement continuously effective in order to permit the Prospectus forming part
thereof to be usable by Holders for a period of two years from the date the
Shelf Registration Statement is declared effective by the SEC, or for such
shorter period that will terminate when all Registrable Securities covered by
the Shelf Registration Statement have been sold pursuant to the Shelf
Registration Statement or cease to be outstanding or otherwise to be Registrable
Securities (the "Effectiveness Period"); provided, however, that the
Effectiveness Period in respect of the Shelf Registration Statement shall be
extended to the extent required to permit dealers to comply with the applicable
prospectus delivery requirements of Rule 174 under the 1933 Act and as otherwise
provided herein.

           (c) Notwithstanding any other provisions hereof, use their reasonable
best efforts to ensure that (i) any Shelf Registration Statement and any
amendment thereto and any Prospectus forming part thereof and any supplement
thereto complies in all material respects with the 1933 Act and the rules and
regulations thereunder, (ii) any Shelf Registration Statement and any amendment
thereto does not, when it becomes effective, contain an untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading and (iii) any Prospectus
forming part of any Shelf Registration Statement, and any supplement to such
Prospectus (as amended or supplemented from time to time), does not include an
untrue statement of a material fact or omit to state a material fact necessary
in order to make the statements, in light of the circumstances under which they
were made, not misleading.

           The Company and the Guarantor shall not permit any securities other
than Registrable Securities to be included in the Shelf Registration Statement.
The Company and the Guarantor further agree, if necessary, to supplement or
amend the Shelf Registration Statement, as required by Section 3(b) below, and
to furnish to the Holders of Registrable Securities copies of any such
supplement or amendment promptly after its being used or filed with the SEC.

           2.3 Expenses. The Company and the Guarantor shall pay all
Registration Expenses in connection with the registration pursuant to Section
2.1 or 2.2. Each Holder shall pay all underwriting discounts and commissions and
transfer taxes, if any, relating to the sale or disposition of such Holder's
Registrable Securities pursuant to the Shelf Registration Statement.

                                        9

<PAGE>

           2.4. Effectiveness. (a) The Company and the Guarantor will be deemed
not to have used their 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 the Company or
the Guarantor voluntarily takes any action that would, or omits to take any
action which omission would, result in any such Registration Statement not being
declared or remaining effective or in the Holders of Registrable Securities
covered thereby not being able to exchange or offer and sell such Registrable
Securities during that period as and to the extent contemplated hereby, unless
such action is required by applicable law.

           (b) An Exchange Offer Registration Statement pursuant to Section 2.1
hereof or a Shelf Registration Statement pursuant to Section 2.2 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 Securities pursuant to an Exchange Offer Registration
Statement or a 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 of competent jurisdiction, such Registration
Statement will be deemed not to have become effective during the period of such
interference, until the offering of Registrable Securities pursuant to such
Registration Statement may legally resume.

           2.5 Interest. The Indenture executed in connection with the
Securities will provide that in the event that either (a) the Exchange Offer
Registration Statement is not filed with the Commission on or prior to the 150th
calendar day following the date of original issue of the Securities, (b) the
Exchange Offer Registration Statement has not been declared effective on or
prior to the 180th calendar day following the date of original issue of the
Securities or (c) the Exchange Offer is not consummated or a Shelf Registration
Statement is not declared effective, in either case, on or prior to the 210th
calendar day following the date of original issue of the Securities (each such
event referred to in clauses (a) through (d) above, a "Registration Default"),
the interest rate borne by the Securities shall be increased ("Additional
Interest") by one-quarter of one percent per annum upon the occurrence of each
Registration Default, which rate will increase by one quarter of one percent
each 90-day period that such Additional Interest continues to accrue under any
such circumstance, provided that the maximum aggregate increase in the interest
rate will in no event exceed one-half of one percent (0.5%) per annum; provided,
however, that no Additional Interest shall be payable if the Exchange Offer
Registration Statement is not filed or declared effective or the Exchange Offer
is not consummated on account of the reasons set forth in clause (i) of the
first paragraph of Section 2.2 (it being understood, however, that in any such
case the Company and the Guarantor shall

                                       10

<PAGE>

be obligated to file a Shelf Registration Statement and Additional Interest
shall be payable if the Shelf Registration Statement is not declared effective
in accordance with clause (c)), that no Additional Interest shall be payable if
the Shelf Registration Statement is not declared effective as set forth above
because the request under clause (iii) of Section 2.2 or notice under clause
(iv) of such paragraph was not made on a timely basis; and provided, further,
that Additional Interest shall only be payable in case the Shelf Registration
Statement is not declared effective as aforesaid with respect to Securities that
have the right to be included, and whose inclusion has been requested, in the
Shelf Registration Statement. Following the cure of all Registration Defaults
the accrual of Additional Interest will cease and the interest rate will revert
to the original rate.

           If the Shelf Registration Statement is declared effective but shall
thereafter become unusable by the Holders for any reason (whether pursuant to
the last paragraph of Section 3 or otherwise), and the aggregate number of days
in any consecutive twelve-month period for which the Shelf Registration
Statement shall not be usable exceeds 30 days in the aggregate, then the
interest rate borne by the Securities included in the Registration Statement
will be increased by 0.25% per annum of the principal amount of the Securities
for the first 90-day period (or portion thereof) beginning on the 31 st such
date that such Shelf Registration Statement ceases to be usable, which rate
shall be increased by an additional 0.25% per annum of the principal amount of
the Securities at the beginning of each subsequent 90-day period, provided that
the maximum aggregate increase in the interest rate will in no event exceed one
half of one percent (0.5%) per annum. Any amounts payable under this paragraph
shall also be deemed "Additional Interest" for purposes of this Agreement. Upon
the Shelf Registration Statement once again becoming usable, the interest rate
borne by such Securities will be reduced to the original interest rate if the
Company is otherwise in compliance with this Agreement at such time. Additional
Interest shall be computed based on the actual number of days elapsed in each
90-day period in which the Shelf Registration Statement is unusable.

           The Company and the Guarantor shall notify the Trustee within five
business days after each and every date on which an event occurs in respect of
which Additional Interest is required to be paid (an "Event Date"). Additional
Interest shall be paid by depositing with the Trustee, in trust, for the benefit
of the Holders of the Securities entitled to receive the interest payment, on or
before the applicable semiannual interest payment date, immediately available
funds in sums sufficient to pay the Additional Interest then due. The Additional
Interest due shall be payable on each interest payment date to the record Holder
of Securities entitled to receive the interest payment to be paid on such date
as set forth in the Indenture. Each obligation to pay Additional Interest shall
be deemed to accrue from and including the day following the applicable Event
Date.

                                       11

<PAGE>

           3.  Registration Procedures.

           In connection with the obligations of the Company and the Guarantor
with respect to Registration Statements pursuant to Sections 2.1 and 2.2 hereof,
the Company and the Guarantor shall:

           (a) prepare and file with the SEC a Registration Statement, within
the relevant time period specified in Section 2, on the appropriate form under
the 1933 Act, which form (i) shall be selected by the Company and the Guarantor,
(ii) shall, in the case of a Shelf Registration, be available for the sale of
the Registrable Securities by the selling Holders thereof, (iii) shall comply as
to form in all material respects with the requirements of the applicable form
and include or incorporate by reference all financial statements required by the
SEC to be filed therewith or incorporated by reference therein, and (iv) shall
comply in all respects with the requirements of Regulation S-T under the 1933
Act, and use their reasonable best efforts to cause such Registration Statement
to become effective and remain effective in accordance with Section 2 hereof;

           (b) prepare and file with the SEC such amendments and post-effective
amendments to each Registration Statement as may be necessary under applicable
law to keep such Registration Statement effective for the applicable period; and
cause each Prospectus to be supplemented 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 1933 Act and comply with the provisions of
the 1933 Act, the 1934 Act and the rules and regulations thereunder applicable
to them with respect to the disposition of all securities covered by each
Registration Statement during the applicable period in accordance (in the case
of a Shelf Registration) with the intended method or methods of distribution by
the selling Holders thereof (including sales by any Participating
Broker-Dealer);

           (c) in the case of a Shelf Registration, (i) notify each Holder of
Registrable Securities, at least five business days prior to filing, that a
Shelf Registration Statement with respect to the Registrable Securities is being
filed and advising such Holders that the distribution of Registrable Securities
will be made in accordance with the method selected by the Majority Holders
participating in the Shelf Registration; (ii) furnish to each Holder of
Registrable Securities and to each underwriter of an underwritten offering of
Registrable Securities, 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, including financial statements and schedules and, if the
Holder so requests, all exhibits, in order to facilitate the public sale or
other disposition of the Registrable Securities; and (iii) hereby consent to the
use of the Prospectus or any amendment or supplement

                                       12

<PAGE>

thereto by each of the selling Holders of Registrable Securities in connection
with the offering and sale of the Registrable Securities covered by the
Prospectus or any amendment or supplement thereto;

           (d) use their reasonable best efforts to register or qualify the
Registrable Securities under all applicable state securities or "blue sky" laws
of such jurisdictions as any Holder of Registrable Securities covered by a
Registration Statement and each underwriter of an underwritten offering of
Registrable Securities shall reasonably request by the time the applicable
Registration Statement is declared effective by the SEC; provided, however, that
none of the Company and the Guarantor shall 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(d) or (ii)
take any action which would subject it to general service of process or taxation
in any such jurisdiction where it is not then so subject;

           (e) notify promptly each Holder of Registrable Securities included
under a Shelf Registration or any Participating Broker-Dealer who has notified
the Company and the Guarantor that it is utilizing the Exchange Offer
Registration Statement as provided in paragraph (f) below and, if requested by
such Holder or Participating Broker-Dealer, confirm such advice in writing
promptly (i) when a Registration Statement has become effective and when any
post-effective amendments and supplements thereto become effective, (ii) of any
request by the SEC or any state securities authority for post-effective
amendments and supplements to a Registration Statement and 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 initiation
of any proceedings for that purpose, (iv) in the case of a Shelf Registration,
if, between the effective date of such Registration Statement and the closing of
any sale of Registrable Securities covered thereby, the representations and
warranties of the Company and the Guarantor contained in any underwriting
agreement, securities sales agreement or other similar agreement, if any,
relating to the offering cease to be true and correct in all material respects,
(v) of the happening of any event or the discovery of any facts during the
period a Shelf Registration Statement is effective which makes any statement
made in such Registration Statement or the related Prospectus untrue in any
material respect or which requires the making of any changes in such
Registration Statement or Prospectus in order to make the statements therein not
misleading, (vi) of the receipt by the Company or the Guarantor of any
notification with respect to the suspension of the qualification of the
Registrable Securities or the Exchange Securities, as the case may be, for sale
in any jurisdiction or the initiation or threatening of any proceeding for such

                                       13

<PAGE>

purpose and (vii) of any determination by the Company or the Guarantor that a
post-effective amendment to such Registration Statement would be appropriate;

           (f) 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 Merrill Lynch and
J.P. Morgan on behalf 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 Securities acquired for its own account as
a result of market-making activities or other trading activities and that will
be the beneficial owner (as defined in Rule 13d-3 promulgated under the 1934
Act) of Exchange Securities 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
Merrill Lynch and J.P. Morgan on behalf of the Participating Broker-Dealers and
its counsel, represent the prevailing views of the staff of the SEC, including a
statement that any such broker-dealer who receives Exchange Securities for
Registrable Securities pursuant to the Exchange Offer may be deemed a statutory
underwriter and must deliver a prospectus meeting the requirements of the 1933
Act in connection with any resale of such Exchange Securities, (ii) furnish to
each Participating Broker- Dealer who has delivered to the Company and the
Guarantor the notice referred to in Section 3(e), 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, (iii) hereby consent
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 SEC, including all Participating
Broker-Dealers, in connection with the sale or transfer of the Exchange
Securities covered by the Prospectus or any amendment or supplement thereto,
provided any such Person has provided the Company in writing with any
information required by Item 507 or Item 508 of Regulation S-K under the 1933
Act (or any similar provision then in force) for inclusion in the Prospectus
contained in the Exchange Offer Registration Statement, 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 (or any other provision requested by Merrill Lynch and J.P. Morgan on
behalf of the Participating Broker-Dealers with respect to similar matters):

                     "If the exchange offeree is a broker-dealer holding
                     Registrable Securities acquired for its own account as a
                     result of market-making activities or other trading
                     activities, it will deliver a prospectus

                                       14

<PAGE>

                     meeting the requirements of the 1933 Act in connection with
                     any resale of Exchange Securities received in respect of
                     such Registrable Securities pursuant to the Exchange
                     Offer;" and

(y) a statement to the effect that by a broker-dealer making the acknowledgment
described in clause (x) and by delivering a Prospectus in connection with the
exchange of Registrable Securities, the broker-dealer will not be deemed to
admit that it is an underwriter within the meaning of the 1933 Act; and

           (g) (i) in the case of an Exchange Offer, furnish counsel for the
Managers and (ii) in the case of a Shelf Registration, furnish counsel for the
Holders of Registrable Securities copies of any comment letters received from
the SEC or any other request by the SEC or any state securities authority for
amendments or supplements to a Registration Statement and Prospectus or for
additional information;

           (h) make every reasonable effort to obtain the withdrawal of any
order suspending the effectiveness of a Registration Statement at the earliest
possible moment;

           (i) in the case of a Shelf Registration, furnish to each Holder of
Registrable Securities, and each underwriter, if any, without charge, at least
one conformed copy of each Registration Statement and any post-effective
amendment thereto, including financial statements and schedules (without
documents incorporated therein by reference and all exhibits thereto, unless
requested in writing);

           (j) in the case of a Shelf Registration, cooperate with the selling
Holders of Registrable Securities to facilitate the timely preparation and
delivery of certificates representing Registrable Securities to be sold and not
bearing any restrictive legends; and enable such Registrable Securities to be in
such denominations (consistent with the provisions of the Indenture) and
registered in such names as the selling Holders or the underwriters, if any, may
reasonably request at least three business days prior to the closing of any sale
of Registrable Securities;

           (k) in the case of a Shelf Registration, upon the occurrence of any
event or the discovery of any facts, each as contemplated by Sections 3(e)(v)
and 3(e)(vi) hereof, as promptly as practicable after the occurrence of such an
event, use their best efforts to prepare a supplement or post-effective
amendment to the Registration Statement or the related Prospectus or any
document incorporated therein by reference or file any other required document
so that, as thereafter

                                       15

<PAGE>

delivered to the purchasers of the Registrable Securities or Participating
Broker Dealers, such Prospectus will not contain at the time of such delivery
any untrue statement of a material fact or omit to state a material fact
necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading or will remain so qualified. At such time
as such public disclosure is otherwise made or the Company determines that such
disclosure is not necessary, in each case to correct any misstatement of a
material fact or to include any omitted material fact, the Company agrees
promptly to notify each Holder of such determination and to furnish each Holder
such number of copies of the Prospectus as amended or supplemented, as such
Holder may reasonably request;

           (1) in the case of a Shelf Registration, within a reasonable time
prior to the filing of any Registration Statement, any Prospectus, any amendment
to a Registration Statement or amendment or supplement to a Prospectus or any
document which is to be incorporated by reference into a Registration Statement
or a Prospectus after initial filing of a Registration Statement, provide copies
of such document to the Managers on behalf of such Holders; and make
representatives of the Company and the Guarantor as shall be reasonably
requested by the Holders of Registrable Securities, or the Managers on behalf of
such Holders, available for discussion of such document;

           (m) use their reasonable best efforts to obtain a CUSIP number for
all Exchange Securities or Registrable Securities, as the case may be, not later
than the effective date of a Registration Statement, and provide the Trustee
with printed certificates for the Exchange Securities or the Registrable
Securities, as the case may be, in a form eligible for deposit with the
Depositary;

           (n) (i) cause the Indenture to be qualified under the TIA in
connection with the registration of the Exchange Securities or Registrable
Securities, as the case may be, (ii) cooperate with the Trustee to effect such
changes to the Indenture as may be required for the Indenture to be so qualified
in accordance with the terms of the TIA, to the extent that such changes may be
made without the consent of the Holders or the holders of any other securities
issued under the Indenture and (iii) execute, and use their 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 the Indenture to be so qualified in a timely manner;

           (o) in the case of a Shelf Registration, enter into agreements
(including underwriting agreements) and take all other customary and appropriate
actions in order to expedite or facilitate the disposition of such Registrable
Securities and in such connection whether or not an underwriting agreement is
entered into and whether or not the registration is as underwritten
registration:

                                       16

<PAGE>

                    (i) make such representations and warranties to the Holders
               of such Registrable Securities and the underwriters, if any, in
               form, substance and scope as are customarily made by issuers to
               underwriters in similar underwritten offerings as may be
               reasonably requested by them;

                    (ii) obtain opinions of counsel to the Company and the
               Guarantor and updates thereof (which counsel and opinions (in
               form, scope and substance) shall be reasonably satisfactory to
               the managing underwriters, if any, or, if there are no
               underwriters, the Majority Holders) addressed to the
               underwriters, if any, or, if there are no underwriters, the
               selling Holders of Registrable Securities covering the matters
               customarily covered in opinions requested in sales of securities
               or underwritten offerings and such other matters as may be
               reasonably requested by such Holders and underwriters;

                    (iii) obtain "cold comfort" letters and updates thereof from
               the Company's and the Guarantor's independent certified public
               accountants (and, if necessary, any other independent certified
               public accountants of any subsidiary of the Company or of any
               business acquired by the Company for which financial statements
               are, or are required to be, included in the Registration
               Statement) addressed to the underwriters, if any, and if there
               are no underwriters, use reasonable efforts to have such letter
               addressed to the selling Holders of Registrable Securities (to
               the extent consistent with Statement on Auditing Standards No. 72
               of the American Institute of Certified Public Accounts), such
               letters to be in customary form and covering matters of the type
               customarily covered in "cold comfort" letters to underwriters in
               connection with similar underwritten offerings;

                    (iv) if so requested by the Majority Holders, enter into a
               securities sales agreement with the Holders and an agent of the
               Holders providing for, among other things, the appointment of
               such agent for the selling Holders for the purpose of soliciting
               purchases of Registrable Securities, which agreement shall be in
               form, substance and scope customary for similar offerings;

                    (v) if an underwriting agreement is entered into, cause the
               same to set forth indemnification provisions and procedures
               substantially equivalent to the indemnification provisions and
               procedures set forth in Section 4 hereof with respect to the
               underwriters and all other parties to be indemnified pursuant to

                                       17

<PAGE>

               said Section or, at the request of any underwriters, in the form
               customarily provided to such underwriters in similar types of
               transactions; provided such underwriting agreement shall contain
               customary provisions regarding indemnification of the Company and
               the Guarantor with the respect to information provided by the
               underwriters; and

                    (vi) deliver such documents and certificates as may be
               reasonably requested by the managing underwriter or, if there are
               no underwriters, the Majority Holders and as are customarily
               delivered in similar offerings, if any.

The above shall be done at (i) the effectiveness of such Registration Statement
(and, if requested by the Majority Holders, each post-effective amendment
thereto) and (ii) each closing under any underwriting or similar agreement as
and to the extent required thereunder. In the case of any underwritten offering,
the Company and the Guarantor shall provide written notice to the Holders of all
Registrable Securities whose Securities are included in the Shelf Registration
Statement of such underwritten offering at least 15 days prior to the filing of
a prospectus supplement for such underwritten offering. Such notice shall (x)
offer each such Holder the right to participate in such underwritten offering,
(y) specify a date, which shall be no earlier than 10 days following the date of
such notice, by which such Holder must inform the Company of its intent to
participate in such underwritten offering and (z) include the instructions such
Holder must follow in order to participate in such underwritten offering;

           (p) in the case of a Shelf Registration or if a Prospectus is
required to be delivered by any Participating Broker-Dealer in the case of an
Exchange Offer, make available for inspection by representatives of the Majority
Holders of the Registrable Securities, any underwriters participating in any
disposition pursuant to a Shelf Registration Statement, any Participating
Broker-Dealer and any counsel or accountant retained by any of the foregoing,
all financial and other records, pertinent corporate documents and properties of
the Company and the Guarantor reasonably requested by any such persons, and
cause the respective officers, directors, employees, and any other agents of the
Company and the Guarantor to supply all information reasonably requested by any
such representative, underwriter, special counsel or accountant in connection
with a Registration Statement, and make such representatives of the Company and
the Guarantor available for discussion of such documents as shall be reasonably
requested by the Managers, in each case as shall be customary and reasonably
necessary to enable such Persons to exercise applicable due diligence
responsibilities; provided that any information that is designated by the
Company or the Guarantor in good faith, in writing, as confidential at the time
of delivery of

                                       18

<PAGE>

such information shall be kept confidential by such Persons, unless such
information becomes available to the public generally not as a result of a
breach of this Agreement, and unless disclosure is required in connection with a
court proceeding or required by law, in which case prior to such disclosure the
Company and the Guarantor shall be given such notice as shall be reasonably
practicable in the circumstances to enable the Company or the Guarantor to take
action to prevent disclosure of such information;

           (q) (i) in the case of an Exchange Offer Registration Statement,
within a reasonable time prior to the filing of any Exchange Offer Registration
Statement, any Prospectus forming a part thereof, any amendment to an Exchange
Offer Registration Statement or amendment or supplement to such Prospectus,
provide copies of such document to the Managers and their counsel and make such
changes in any such document prior to the filing thereof as the Managers or
their counsel may reasonably request and, except as otherwise required by
applicable law, not file any such document in a form to which the Managers or
their counsel shall not have previously been advised and furnished a copy of or
to which the Managers shall reasonably object, and make the representatives of
the Company and the Guarantor available for discussion of such documents as
shall be reasonably requested by the Managers; and

           (ii) in the case of a Shelf Registration, within a reasonable time
prior to filing any Shelf Registration Statement, any Prospectus forming a part
thereof, any amendment to such Shelf Registration Statement or amendment or
supplement to such Prospectus, provide copies of such document to the Holders of
Registrable Securities participating therein, to the Managers, to counsel for
the Holders of Registrable Securities participating therein selected by the
Majority Holders (all references to counsel for the Holders of Registrable
Securities in this paragraph being references to such counsel) and to the
underwriter or underwriters of an underwritten offering of Registrable
Securities, if any, make such changes in any such document prior to the filing
thereof as the Managers, the counsel to the Holders of Registrable Securities
participating therein or the underwriter or underwriters reasonably request and
not file any such document in a form to which the Managers, counsel for the
Holders of Registrable Securities or any underwriter shall not have previously
been advised and furnished a copy of or to which the Managers, counsel to the
Holders of Registrable Securities or any underwriter shall reasonably object,
and make the representatives of the Company and the Guarantor available for
discussion of such document as shall be reasonably requested by the Managers,
counsel for the Holders of Registrable Securities or any underwriter;

           (r) in the case of a Shelf Registration, use their reasonable best
efforts to cause all Registrable Securities to be listed on any securities
exchange on which

                                       19

<PAGE>

similar debt securities issued by the Company are then listed if requested by
the Majority Holders, or if requested by the underwriter or underwriters of an
underwritten offering of Registrable Securities, if any;

           (s) in the case of a Shelf Registration, use their reasonable best
efforts to cause the Registrable Securities to be rated by the appropriate
rating agencies, if so requested by the Majority Holders, or if requested by the
underwriter or underwriters of an underwritten offering of Registrable
Securities, if any;

           (t) otherwise comply with all applicable rules and regulations of the
SEC and make available to its security holders, as soon as reasonably
practicable, an earnings statement covering at least 12 months which shall
satisfy the provisions of Section 11(a) of the 1933 Act and Rule 158 promulgated
thereunder;

           (u) cooperate and assist in any filings required to be made with the
NASD and, in the case of a Shelf Registration, in the performance of any due
diligence investigation by any underwriter and its counsel (including any
"qualified independent underwriter" that is required to be retained in
accordance with the rules and regulations of the NASD); and

           (v) upon consummation of an Exchange Offer, obtain (i) a customary
opinion of counsel to the Company and the Guarantor addressed to the Trustee for
the benefit of all Holders of Registrable Securities participating in the
Exchange Offer, and which includes an opinion that (A) each of the Company and
the Guarantor has duly authorized, executed and delivered the Exchange
Securities and the related indenture, and (B) each of the Exchange Securities
and related indenture constitute legal, valid and binding obligations of each of
the Company and the Guarantor, enforceable against the Company and the Guarantor
in accordance with its respective terms (with customary exceptions) and (ii) an
officers' certificate containing the certifications substantially similar to
those set forth in Section 7(d) of the Purchase Agreement.

           In the case of a Shelf Registration Statement, each Holder agrees
that, upon receipt of any notice from the Company and the Guarantor of the
happening of any event or the discovery of any facts, each of the kind described
in Section 3(e)(v) and 3(e)(vi) hereof, such Holder will forthwith discontinue
disposition of Registrable Securities 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, and, if so directed by the Company and the
Guarantor, such Holder will deliver to the Company and the Guarantor (at their
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 Securities current at the time of receipt of such notice.

                                       20

<PAGE>

           If any of the Registrable Securities covered by any Shelf
Registration Statement are to be sold in an underwritten offering, the
underwriter or underwriters and manager or managers that will manage such
offering will be selected by the Majority Holders of all such Registrable
Securities included in such offering and shall be acceptable to the Company and
the Guarantor. No Holder of Registrable Securities may participate in any
underwritten registration hereunder unless such Holder (a) agrees to sell such
Holder's Registrable Securities on the basis provided in any underwriting
arrangements approved by the persons entitled hereunder to approve such
arrangements and (b) completes and executes all questionnaires, powers of
attorney, indemnities, underwriting agreements, lock-up letters and other
documents required under the terms of such underwriting arrangements.

           The Company shall be entitled for a period of time not to exceed 30
consecutive days in any one instance or 60 days in the aggregate during any
consecutive twelve-month period, to require that Holders refrain from effecting
any distribution of their Registrable Securities pursuant to the Shelf
Registration Statement if the Company or the Guarantor in its reasonable good
faith judgment determines that, in accordance with its understanding of the
disclosure requirements of applicable securities law, such distribution would
require disclosure of any financing (other than an underwritten secondary
offering of any securities of the Company or the Guarantor), acquisition,
corporate reorganization or other transaction or development involving the
Company, the Guarantor or any of their subsidiaries that is or would be material
to the Company and that, in the reasonable good faith business judgment of the
Company or the Guarantor, such disclosure would not at that time be in the best
interests of the Company or the Guarantor (a "Material Development Election")
provided that any period during which the Company requires Holders to refrain
from disposing of their Registrable Securities due to a Material Development
Election (an "Election Period") shall be deemed to trigger the obligation of the
Company to pay Additional Interest in accordance with the second paragraph of
Section 2.5 to the extent that such Election Period, together with all other
days that the Shelf Registration Statement has become unusable in any
consecutive twelve-month period, exceeds 30 days in the aggregate. The Company
shall, as promptly as practicable, give the Holders whose Securities are
included in the Shelf Registration Statement written notice of any such Material
Development Election. If such Holders have been required to refrain from
disposing of their Registrable Securities as a result of a Material Development
Election, the Company shall, as promptly as practicable following the
determination that the Holders may recommence such sales, notify such Holders in
writing of such determination but in any event no later than the end of such
30-day period in any one case or 60-day period in the aggregate.

                                       21

<PAGE>

           4.  Indemnification; Contribution.

           (a) The Company and the Guarantor, jointly and severally, agree to
indemnify and hold harmless the Managers, each Holder, each Participating
Broker-Dealer, each Person who participates as an underwriter (any such Person
being an "Underwriter") and each Person, if any, who controls any Holder or
Underwriter within the meaning of Section 15 of the 1933 Act or Section 20 of
the 1934 Act as follows:

                    (i) against any and all loss, liability, claim, damage and
               expense whatsoever, as incurred, arising out of any untrue
               statement or alleged untrue statement of a material fact
               contained in any Registration Statement (or any amendment or
               supplement thereto) pursuant to which Exchange Securities or
               Registrable Securities were registered under the 1933 Act,
               including all documents incorporated therein by reference, or the
               omission or alleged omission therefrom of a material fact
               required to be stated therein or necessary to make the statements
               therein not misleading, or arising out of any untrue statement or
               alleged untrue statement of a material fact contained in any
               Prospectus (or any amendment or supplement thereto) or the
               omission or alleged omission therefrom of a material fact
               necessary in order to make the statements therein, in the light
               of the circumstances under which they were made, not misleading;

                    (ii) against any and all loss, liability, claim, damage and
               expense whatsoever, as incurred, to the extent of the aggregate
               amount paid in settlement of any litigation, or any investigation
               or proceeding by any governmental agency or body, commenced or
               threatened, or of any claim whatsoever based upon any such untrue
               statement or omission, or any such alleged untrue statement or
               omission; provided that (subject to Section 4(d) below) any such
               settlement is effected with the written consent of the Company
               and the Guarantor; and

                    (iii) against any and all expense whatsoever, as incurred
               (including the fees and disbursements of counsel chosen by any
               indemnified party), reasonably incurred in investigating,
               preparing or defending against any litigation, or any
               investigation or proceeding by any governmental agency or body,
               commenced or threatened, or any claim whatsoever based upon any
               such untrue statement or omission, or any such alleged untrue
               statement or

                                       22

<PAGE>

               omission, to the extent that any such expense is not paid under
               subparagraph (i) or (ii) above;

provided, however, that this indemnity agreement shall not apply to any loss,
liability, claim, damage or expense to the extent arising out of any untrue
statement or omission or alleged untrue statement or omission made in reliance
upon and in conformity with written information furnished to the Company and the
Guarantor by the Holder, Participating Broker-Dealer or Underwriter expressly
for use in a Registration Statement (or any amendment thereto) or any Prospectus
(or any amendment or supplement thereto); and provided further that this
indemnity agreement shall not, with respect to a Shelf Registration Statement,
if applicable, with respect to any preliminary prospectus, inure to the benefit
of any Underwriter (or to the benefit of any Person controlling such
Underwriter) from whom the Person asserting any such losses, liabilities,
claims, damages or expenses purchased Registrable Securities if such untrue
statement or omission or alleged untrue statement or omission made in a
preliminary prospectus is eliminated or remedies in the Prospectus (as amended
or supplemented if the Company and the Guarantor shall have furnished amendments
or supplements thereto) and, if required by law, a copy of the Prospectus (as so
amended or supplemented) shall not have been furnished to such Person at or
prior to the written confirmation of the sale of such Registrable Securities to
such Person.

           (b) Each Holder severally, but not jointly, agrees to indemnify and
hold harmless the Company, the Guarantor, the Managers, each Underwriter and the
other selling Holders, and each of their respective directors and officers, and
each Person, if any, who controls the Company, the Guarantor, the Managers, any
Underwriter or any other selling Holder within the meaning of Section 15 of the
1933 Act or Section 20 of the 1934 Act, against any and all loss, liability,
claim, damage and expense described in the indemnity contained in Section 4(a)
hereof, as incurred, but only with respect to untrue statements or omissions, or
alleged untrue statements or omissions, made in the Shelf Registration Statement
(or any amendment thereto) or any Prospectus included therein (or any amendment
or supplement thereto) in reliance upon and in conformity with written
information with respect to such Holder furnished to the Company by such Holder
expressly for use in the Shelf Registration Statement (or any amendment thereto)
or such Prospectus (or any amendment or supplement thereto); provided, however,
that 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
Securities pursuant to such Shelf Registration Statement.

           (c) Each indemnified party shall give notice as promptly as
reasonably practicable to each indemnifying party of any action or proceeding
commenced against it in respect of which indemnity may be sought hereunder, but
failure so to

                                       23

<PAGE>

notify an indemnifying party shall not relieve such indemnifying party from any
liability hereunder to the extent it is not materially prejudiced as a result
thereof and in any event shall not relieve it from any liability which it may
have otherwise than on account of this indemnity agreement. The indemnifying
party, upon request of the indemnified party, shall retain counsel reasonably
satisfactory to the indemnified party to represent the indemnified party and any
other the indemnifying party may designate in such action or proceeding and
shall pay the fees and expenses of such counsel related to such proceeding. In
any such proceeding, any indemnified party shall have the right to retain its
own counsel, but the fees and expenses of such counsel shall be at the expense
of such indemnified party unless (i) the indemnifying party and the indemnified
party shall have mutually agreed to the contrary, (ii) the indemnifying party
has failed within a reasonable time to retain counsel reasonably satisfactory to
the indemnified party or (iii) the named parties in any such proceeding
(including impleaded parties) include both the indemnifying party and the
indemnified party and representation of both parties by the same counsel would
be inappropriate due to actual or potential differing interests between them. In
no event shall the indemnifying party or parties be liable for the fees and
expenses of more than one counsel (in addition to any local counsel) separate
from their own counsel for all indemnified parties in connection with any one
action or separate but similar or related actions in the same jurisdiction
arising out of the same general allegations or circumstances. No indemnifying
party shall, without the prior written consent of the indemnified parties,
settle or compromise or consent to the entry of any judgment with respect to any
litigation, or any investigation or proceeding by any governmental agency or
body, commenced or threatened, or any claim whatsoever in respect of which
indemnification or contribution could be sought under this Section 4 (whether or
not the indemnified parties are actual or potential parties thereto), unless
such settlement, compromise or consent (i) includes an unconditional release of
each indemnified party from all liability arising out of such litigation,
investigation, proceeding or claim and (ii) does not include a statement as to
or an admission of fault, culpability or a failure to act by or on behalf of any
indemnified party.

           (d) If at any time an indemnified party shall have requested an
indemnifying party to reimburse the indemnified party for fees and expenses of
counsel, such indemnifying party agrees that it shall be liable for any
settlement of the nature contemplated by Section 4(a)(ii) effected without its
written consent if (i) such settlement is entered into more than 45 days after
receipt by such indemnifying party of the aforesaid request, (ii) such
indemnifying party shall have received notice of the terms of such settlement at
least 30 days prior to such settlement being entered into and (iii) such
indemnifying party shall not have reimbursed such indemnified party in
accordance with such request prior to the date of such settlement unless the
indemnifying party in good faith shall be

                                       24

<PAGE>

contesting the reasonableness of such fees and expenses (but only to the extent
so contested) or the entitlement of the indemnified party to indemnification
under the terms of this Section. No indemnifying person shall, without the prior
written consent of the indemnified person, effect any settlement of any pending
or threatened proceeding in respect of which any indemnified person is or could
have been a party and indemnity could have been sought hereunder by such
indemnified person, unless such settlement includes an unconditional release of
such indemnified person from all liability on claims that are the subject matter
of such proceeding.

           (e) If the indemnification provided for in this Section 4 is for any
reason unavailable to or insufficient to hold harmless an indemnified party in
respect of any losses, liabilities, claims, damages or expenses referred to
therein, then each indemnifying party shall contribute to the aggregate amount
of such losses, liabilities, claims, damages and expenses incurred by such
indemnified party, as incurred, in such proportion as is appropriate to reflect
the relative fault of the Company and the Guarantor on the one hand and the
Managers, the Holders, the Participating Broker-Dealers and/or the Underwriters
each on the other hand in connection with the statements or omissions which
resulted in such losses, liabilities, claims, damages or expenses, as well as
any other relevant equitable considerations.

           The relative fault of the Company and the Guarantor on the one hand
and the Managers, the Holders, the Participating Broker-Dealers and/or the
Underwriters each on the other hand shall be determined by reference to, among
other things, whether any such untrue or alleged untrue statement of a material
fact or omission or alleged omission to state a material fact relates to
information supplied by the Company and the Guarantor, the Holders, the
Participating Broker-Dealers and/or the Underwriters or the Managers and the
parties' relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission.

           The Company, the Guarantor, the Managers, the Holders, the
Participating Broker-Dealers and/or the Underwriters agree that it would not be
just and equitable if contribution pursuant to this Section 4 were determined by
pro rata allocation,(even if the Managers, the Holders, the Participating
Broker-Dealers and/or the Underwriters were treated as one entity for such
purpose) or by any other method of allocation which does not take account of the
equitable considerations referred to above in this Section 4. The aggregate
amount of losses, liabilities, claims, damages and expenses incurred by an
indemnified party and referred to above in this Section 4 shall be deemed to
include any legal or other expenses reasonably incurred by such indemnified
party in investigating, preparing or defending against any litigation, or any
investigation or proceeding

                                       25

<PAGE>

by any governmental agency or body, commenced or threatened, or any claim
whatsoever based upon any such untrue or alleged untrue statement or omission or
alleged omission.

           Notwithstanding the provisions of this Section 4, no Manager shall be
required to contribute any amount in excess of the amount by which the total
price at which the Securities sold by it were offered exceeds the amount of any
damages which such Manager has otherwise been required to pay by reason of such
untrue or alleged untrue statement or omission or alleged omission.

           No Person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the 1933 Act) shall be entitled to contribution from any
Person who was not guilty of such fraudulent misrepresentation.

           For purposes of this Section 4, each Person, if any, who controls a
Manager, Holder, Participating Broker-Dealer or Underwriter within the meaning
of Section 15 of the 1933 Act or Section 20 of the 1934 Act shall have the same
rights to contribution as such Manager or Holder, and each director of the
Company and such Guarantor, as the case may be, and each Person, if any, who
controls the Company and such Guarantor, as the case may be, within the meaning
of Section 15 of the 1933 Act or Section 20 of the 1934 Act shall have the same
rights to contribution as the Company. The Managers' respective obligations to
contribute pursuant to this Section 4 are several in proportion to the principal
amount of Securities set forth opposite their respective names in Schedule II to
the Purchase Agreement and not joint.

           5.        Miscellaneous.

           5.1 Rule 144 and Rule 144A. For so long as the Guarantor is subject
to the reporting requirements of Section 13 or 15 of the 1934 Act, the Company
and the Guarantor covenant that the Guarantor will file the reports required to
be filed by it under the 1933 Act and Section 13(a) or 15(d) of the 1934 Act and
the rules and regulations adopted by the SEC thereunder. If the Guarantor ceases
to be so required to file such reports, the Company and the Guarantor covenant
that the Guarantor will upon the request of any Holder of Registrable Securities
(a) make publicly available such information as is necessary to permit sales
pursuant to Rule 144 under the 1933 Act, (b) deliver such information to a
prospective purchaser as is necessary to permit sales pursuant to Rule 144A
under the 1933 Act to the extent required by the securities laws, 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 Securities without registration under the 1933 Act within the
limitation of the exemptions provided by (i) Rule 144 under the 1933 Act, as
such Rule may be amended from time to

                                       26

<PAGE>

time, (ii) Rule 144A under the 1933 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 Securities, the Company and the
Guarantor will deliver to such Holder a written statement as to whether they
have complied with such requirements.

           5.2 No Inconsistent Agreements. The Company and the Guarantor have
not entered into, and the Company and the Guarantor will not after the date of
this Agreement enter into, any agreement which is inconsistent with the rights
granted to the Holders of Registrable Securities in this Agreement or otherwise
conflicts with the provisions hereof. The rights granted to the Holders
hereunder do not in any way conflict with the rights granted to the holders of
the Company's and the Guarantor's other issued and outstanding securities under
any such agreements.

           5.3 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 and the Guarantor have obtained the written
consent of Holders of at least a majority in aggregate principal amount of the
outstanding Registrable Securities affected by such amendment, modification,
supplement, waiver or departure.

           5.4 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
(a) if to a Holder, at the most current address given by such Holder to the
Company and the Guarantor by means of a notice given in accordance with the
provisions of this Section 5.4, which address initially is the address set forth
in the Purchase Agreement with respect to the Managers; and (b) if to the
Company and the Guarantor, initially at the Company's address set forth in the
Purchase Agreement, and thereafter at such other address of which notice is
given in accordance with the provisions of this Section 5.4.

           All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; two 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 under the
Indenture, at the address specified in such Indenture.

                                       27

<PAGE>

           5.5 Successor and Assigns. This Agreement shall inure to the benefit
of and be binding upon the successors, assigns and transferees of each of the
parties, including, without limitation and without the need for an express
assignment, subsequent Holders; provided that nothing herein shall be deemed to
permit any assignment, transfer or other disposition of Registrable Securities
in violation of the terms of the Purchase Agreement or the Indenture. If any
transferee of any Holder shall acquire Registrable Securities; in any manner,
whether by operation of law or otherwise, such Registrable Securities shall be
held subject to all of the terms of this Agreement, and by taking and holding
such Registrable Securities 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, including the restrictions on resale set forth in this Agreement and,
if applicable, the Purchase Agreement, and such person shall be entitled to
receive the benefits hereof.

           5.6 Third Party Beneficiaries. The Managers (even if the Managers are
not Holders of Registrable Securities) shall be third party beneficiaries to the
agreements made hereunder between the Company and the Guarantor, on the one
hand, and the Holders, on the other hand, and shall have the right to enforce
such agreements directly to the extent they deem such enforcement necessary or
advisable to protect their rights or the rights of Holders hereunder. Each
Holder of Registrable Securities shall be a third party beneficiary to the
agreements made under this Registration Rights Agreement between the Company and
the Guarantor, on the one hand, and the Managers, on the other hand, and shall
have the right to enforce such agreements directly to the extent it deems such
enforcement necessary or advisable to protect its rights hereunder.

           5.7. Specific Enforcement. Without limiting the remedies available to
the Managers and the Holders, the Company and the Guarantor acknowledge that any
failure by the Company and the Guarantor to comply with their obligations under
Sections 2.1 through 2.4 hereof may result in material irreparable injury to the
Managers or 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, the Managers or any Holder may obtain such
relief as may be required to specifically enforce the Company's and the
Guarantor's obligations under Sections 2.1 through 2.4 hereof.

           5.8. Restriction on Resales. Until the expiration of two years after
the original issuance of the Securities and the Guarantee, the Company and the
Guarantor will not, and will cause their "affiliates" (as such term is defined
in Rule 144(a)(1) under the 1933 Act) not to, resell any Securities and
Guarantee which are "restricted securities" (as such term is defined under Rule
144(a)(3) under the 1933 Act) that have been reacquired by any of them and shall

                                       28

<PAGE>

immediately upon any purchase of any such Securities and Guarantees submit such
Securities and Guarantees to the Trustee for cancellation.

           5.9 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.

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

           5.11 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO THE
PRINCIPLES OF CONFLICT OF LAWS THEREOF.

           5.12 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.

           5.13 Jurisdictional Matters. Each of the Company and the Guarantor
(i) agrees that any legal suit, action or proceeding brought by any party to
enforce any rights under or with respect to this Agreement or any other document
in respect thereof or the transactions contemplated hereby or thereby may be
instituted in any state or federal court in The City of New York, State of New
York, U.S.A., (ii) irrevocably waives to the fullest extent permitted by law any
objection which it may now or hereafter have to the laying of venue of any such
suit, action or proceeding, (iii) irrevocably waives to the fullest extent
permitted by law any claim that and agrees not to claim or plead in any court
that any such action, suit or proceeding brought in such court has been brought
in an inconvenient forum and (iv) irrevocably submits to the nonexclusive
jurisdiction of any such court in any such suit, action or proceeding or for
recognition and enforcement of any judgment in respect thereof.

           Each of the Company and the Guarantor hereby irrevocably and
unconditionally designates and appoints CT Corporation System, 111 Eighth
Avenue, 13th Floor, New York, New York 10011, U.S.A. (and any successor entity),
as its authorized agent to receive and forward on its behalf service of any and
all process which may be served in any such suit, action or proceeding in any
such court and agrees that service of process upon CT Corporation shall be
deemed in every respect effective service of process upon it in any such suit,

                                       29

<PAGE>

action or proceeding and shall be taken and held to be valid personal service
upon it. Said designation and appointment shall be irrevocable. Nothing in this
Section 5.13 shall affect the right of Managers, their affiliates or any
indemnified party to serve process in any manner permitted by law or limit the
right of the Managers, their affiliates or any indemnified party to bring
proceedings against the Company or the Guarantor in the courts of any
jurisdiction or jurisdictions. Each of the Company and the Guarantor further
agrees to take any and all action, including the execution and filing of any and
all such documents and instruments, as may be necessary to continue such
designation and appointment of CT Corporation in full force and effect so long
as the Securities and the Guarantees are outstanding but in no event for a
period longer than eight years from the date of this Agreement. Each of the
Company and Guarantor hereby irrevocably and unconditionally authorizes and
directs CT Corporation to accept such service on its behalf. If for any reason
CT Corporation ceases to be available to act as such, each of the Company and
Guarantor agrees to designate a new agent in New York City on the terms and for
the purposes of this provision reasonably satisfactory to the Underwriters.

           To the extent that either the Company or the Guarantor has or
hereafter may acquire any immunity from jurisdiction of any court (including,
without limitation, any court in the United States, the State of New York,
Luxembourg, Bermuda or any political subdivision thereof) or from any legal
process (whether through service of notice, attachment prior to judgment,
attachment in aid of execution, execution or otherwise) with respect to itself
or its property or assets, this Agreement, or any other documents or actions to
enforce judgments in respect of any thereof, it hereby irrevocably waives such
immunity, and any defense based on such immunity, in respect of its obligations
under the above-referenced documents and the transactions contemplated thereby,
to the extent permitted by law.

           5.14. Judgment Currency. If pursuant to a judgment or order being
made or registered against the Company or the Guarantor, any payment under or in
connection with this Agreement to a Person is made or satisfied in a currency
(the "Judgment Currency") other than in euro then, to the extent that the
payment (when converted into euro at the rate of exchange on the date of payment
or, if it is not practicable for such Person to purchase euro with the Judgment
Currency on the date of payment, at the rate of exchange as soon thereafter as
it is practicable for it to do so) actually received by such Person falls short
of the amount due under the terms of this Agreement, the Company or the
Guarantor shall, to the extent permitted by law, as a separate and independent
obligation, indemnify and hold harmless such Person against the amount of such
short fall and such indemnity shall continue in full force and effect
notwithstanding any such judgment or order as aforesaid. For the purpose of this
Section, "rate of

                                       30

<PAGE>

exchange" means the rate at which the Person is able on the relevant date to
purchase euro with the Judgment Currency and shall take into account any premium
and other costs of exchange.

                                       31

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

                                          TYCO INTERNATIONAL GROUP S.A.

                                          By:    /s/ Richard W. Brann
                                            ------------------------------------
                                            Name:  Richard W.  Brann
                                            Title: Managing Director

                                          TYCO INTERNATIONAL LTD.

                                          By:    /s/ Mark H. Swartz
                                            ------------------------------------
                                            Name:  Mark H. Swartz
                                            Title: Executive Vice President and
                                                   Chief Financial Officer

                                       32

<PAGE>

Confirmed and accepted as of the date first above written:

MERRILL LYNCH INTERNATIONAL
J.P. MORGAN SECURITIES LTD.
ABN AMRO BANK N.V.
BANCA D'INTERMEDIAZIONE MOBILIARE IMI SPA
BANQUE NATIONALE DE PARIS
BARCLAYS BANK PLC
BAYERISCHE HYPO- UND VEREINSBANK AG
COMMERZBANK AKTIENGESELLSCHAFT
CREDIT LYONNAIS
CREDIT SUISSE FIRST BOSTON (EUROPE) LIMITED
DEUTSCHE BANK AKTIENGESELLSCHAFT
DRESDNER BANK AG LONDON BRANCH
HSBC BANK PLC
WESTDEUTSCHE LANDESBANK GIROZENTRALE

By:    MERRILL LYNCH INTERNATIONAL

       By: /s/ Illegible signature
         --------------------------------------------------
                   Authorized Signatory

By:    J.P. MORGAN SECURITIES LTD.

       By: /s/ Illegible signature
         --------------------------------------------------
                   Authorized Signatory

For themselves and on behalf of the other Managers.

                                       34

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